Keppel T&T

Keppel T&T: will jointly develop and operate a Chinese cold-chain logistics park in Luan city, Anhui province, riding on the Chinese govt's priority of improved food safety. The 33-ha Keppel Wanjiang International Coldchain Logistics Park (Anhui) will be 60 km west of Hefei, Anhui's capital, and will serve the central China region that includes Anhui, Henan, Hubei, Hunan and Jiangxi. The JV will be 60% held by KT&T and the rest held by the Jin'an district govt, and private investors. The registered capital of the JV will be Rmb 180m. The logistics park is scheduled for operations by end 2014. KT&T trades at 13.2x P/E. The stock is +0.4% at $1.29.