Singapore-based conglomerate Keppel Corporation is set to sell its 83.9% stake in the telecommunications company M1 to Simba Telecom, an Australian firm owned by billionaire David Teoh. The transaction is valued at approximately S$1.43 billion (around $1.1 billion), representing a multiple of 7.3 times EV/EBITDA. Keppel is expected to realize about US$778 million in cash proceeds from the sale. Despite the cash inflow, the deal is anticipated to result in an accounting loss of approximately $173 million for Keppel. This divestment aligns with Keppel's strategy to unlock value from its assets. Separately, Singapore-based logistics startup Ninja Van is reportedly in talks to raise funding at a significantly reduced valuation amid a challenging investment environment in Southeast Asia's tech sector.