Keppel Land terminates Vietnamese JV agreements with An Phu Corp

Mainboard-listed property developer Keppel Land on Friday said it has terminated its Vietnamese joint venture agreements with An Phu Corporation.

It said the contracts were terminated because conditions were not fulfilled, without elaborating.

Under the agreements signed in 2007, Keppel Land was to have developed condominiums in Ho Chi Minh City with An Phu.

Keppel Land said the termination of the agreements is not expected to have any material impact on its assets for the current financial year.

Source : Channel NewsAsia – 12 Mar 2010

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