Keppel Land is axing its stake in an Indonesian associate that is set to sell off a West Bali site. This move is meant to help sharpen the company’s focus on the Jakarta market. It expects to record a net divestment gain of about S$17.6 million by the end of 2017. Keppel Land now has an effective 24.5 per cent in Purimas Straits Resort, which has entered into an agreement to sell the 20.5 ha site to Bali Sudamala Development.
