Keppel T&T and Keppel Corp

Keppel T&T and Keppel Corp: Keppel T&T's subsidiaries have sold $34.3m of group relief qualified tax deductions to Keppel Corp and K-REIT for $5.8m (17% of $34.3m, the prevailing corp tax rate). Generally beneficial for Keppel T&T as it allows them to make use of tax deductions earlier. Currently, Kep T&T trades at approx P/E 7.6x.