Container Vessel Sold For $11.8M

Wednesday, May 23, 2001

Keppel Telecommunications and Transportation Ltd. sold a container vessel for $11.8 million to Turkish buyers. The MV Kimanis is a 923-TEU built in 1993 and was sold to Merit Gemicilik Ve Ticaret Ltd Sirketi. Keppel said the progressive sale of the group's fleet aims to maximise shareholder value and was in line with its strategy of divesting non-core assets and transforming it from an investment holding firm to a network engineering and IT services provider. - (Reuters)

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