Keppel Ltd. Provides Update on Civil Action Regarding Ownership of Land Plots in Jakarta

Key Highlights

• Appeal Filed Against Keppel Subsidiary: An individual, Tumpal Hutabarat, has filed an appeal against a previous court decision regarding the ownership of certain land plots in Jakarta.
• PT. Kepland Investama Involved: The civil action is directed at PT. Kepland Investama, a wholly-owned subsidiary of Keppel Ltd.
• Previous Court Decision: On 9 February 2026, the South Jakarta District Court ruled the Claimant’s lawsuit as inadmissible.
• Current Status: The Claimant has now appealed the decision to the DKI Jakarta Province High Court.
• Keppel’s Position: Keppel’s Indonesian legal counsel maintains that PT. Kepland’s land certificates represent the strongest proof of ownership under Indonesian Agrarian Law.
• Expected Impact: The company does not anticipate any material impact on its operations or overall financial performance as a result of the appeal.
• Ongoing Updates: Keppel Ltd. will continue to keep shareholders informed about any material developments in the legal proceedings.

Details for Investors

Keppel Ltd., a leading Singapore-based conglomerate, has issued an update regarding a civil action involving the ownership of certain land plots in Jakarta by its wholly-owned subsidiary, PT. Kepland Investama. This legal matter was first disclosed in company announcements dated 17 March 2025 and 23 February 2026.

According to the latest update, the South Jakarta District Court had previously ruled on 9 February 2026 that the lawsuit brought by individual claimant Tumpal Hutabarat was inadmissible. However, the Claimant has since appealed this decision to the DKI Jakarta Province High Court, through the South Jakarta District Court.

Keppel Ltd. has emphasized that its Indonesian counsel remains confident regarding the strength of PT. Kepland’s land ownership certificates, citing that these documents are the “strongest proof of ownership” under Indonesian Agrarian Law. This assertion is important for shareholders, as it underpins the security of Keppel’s property assets in Indonesia.

The company has further stated that it does not expect the ongoing appeal to have any material impact on its operations or its overall financial performance. This assessment should provide some reassurance to investors concerned about potential risks or disruptions arising from the litigation.

Despite the company’s confidence, shareholders should be aware that legal proceedings in Indonesia can be protracted and outcomes are subject to judicial discretion. Any change in the status of the land ownership or an adverse ruling could have implications for the value of Keppel’s Indonesian assets and, by extension, its share price.

Keppel Ltd. has committed to keeping shareholders updated on any material developments in these court proceedings. Investors are encouraged to monitor further announcements from the company regarding this matter.

Potential Price Sensitivity

• The outcome of the appeal process, while not currently expected to be material by management, could become price sensitive if new facts emerge or if the Indonesian High Court’s decision differs from the District Court’s ruling.
• If the land certificates are challenged or if PT. Kepland is unable to defend its ownership claims, this could negatively impact Keppel’s asset base and share valuation.

Next Steps

• Keppel Ltd. will continue to monitor the legal proceedings and provide timely updates to shareholders as appropriate.
• Investors should stay alert for further company announcements related to the litigation and any material impact assessment.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with financial advisors before making investment decisions based on company disclosures or legal proceedings.

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