KeppelTelecommunications and Transportation Keppel TT has revealed that is has bought 45% of Thai company, Advance Research Group Company ARG. Keppel TT paid $15 million for the stake, valuing ARG at little over $33 million. ARG is Thailand's leading internet content provider and business information services company.
In 1999, ARG made profits of Bt13.1 million $320, 731 on revenues of Bt283.6 million $6.9 million. The price paid by Keppel means that it is valuing the Thai company at over 100 times its 1999 profits.
The investment is the second that Keppel TT has made in ARG after it took...
