SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Dec 22, 2023

2. SEC Identification Number

PW-305

3. BIR Tax Identification No.

000-067-618

4. Exact name of issuer as specified in its charter

Keppel Philippines Properties, Inc.

5. Province, country or other jurisdiction of incorporation

Metro Manila

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

12 ADB Avenue, Ortigas Center, Mandaluyong City (business office address changed to:26th Floor, The Podium West Tower, ADB Avenue, Wack wack Greenhills East, Mandaluyong City Postal Code 1555

8. Issuer's telephone number, including area code

(02) 8593-0460 local 4990

9. Former name or former address, if changed since last report

18th Floor, Units 1802B-1803, The Podium West Tower, 12 ADB Avenue, Ortigas Center, Mandaluyong City

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares	293,828,900

11. Indicate the item numbers reported herein

2 and 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Keppel Philippines Properties, Inc.KEP

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Disposition of Assets and Other Events
Background/Description of the Disclosure
Item 2. Disposition of Assets Completion of sale of all KEP shares (Sale Shares) in SM Keppel Land, Inc. (SMKL) (Divestment) KEP refers to its disclosure on 27 March 2023 in relation to the sale of all its own and Opon-KE Properties, Inc. (OKEP) redeemable preferred shares and common shares in SMKL, constituting 40% and 10% interest respectively in SMKL to BDO Unibank, Inc. (BDO). KEP wishes to announce that the divestment has been completed on 22 December 2023; hence, SMKL has ceased to be an associated company of KEP in accordance with the terms of the Divestment. BDO paid KEP and OKEP a consideration of approximately Php 6.52 billion and Php 1.63 billion respectively, subject to purchase price adjustments based on the actual adjusted net asset value of SMKL as of 22 December 2023. The subject sale will result in an estimated increase in KEP's net asset value by Php 10.90 per share. KEP's net asset value was Php 9.97 per share as of 30 September 2023. Item 9. Other Events Redemption of KEP's outstanding Redeemable Preferred Shares (RPS) On 22 December 2023, the Board of Directors approved the redemption in year 2024 of KEP's outstanding 59,474,100 RPS held by Keppel Land Limited (Keppel) at a redemption price equivalent to its issuance cost of Php 10.00 per share plus a cumulative annual premium of 12%. The annual premium was determined after taking into consideration the opinion of the Independent Financial Advisor, research on pricing of preferred shares of comparable companies and Keppel's long-term investment in KEP. The Board of Directors also approved the appropriation of Retained Earnings corresponding to the accumulated annual premium amounting to Php 1.43 billion. The total Redemption Price will amount to Php 2.02 billion and will result in a reduction in KEP's net asset value by Php 4.86 per share.
Other Relevant Information
Please see attached SEC form 17-C