NOVEMBER 2016 www.kepcorp.com/ekeppelite

Safety, our collective responsibility 20

Seeds of sustainability 30

United as OneKeppel 38

Celebrating the Keppel fellowship

MCI (P) 032/02/2016 30 38

44

Contents

SUSTAINING GROWTH Collaborating for growth 4 Strong safety culture 35

Responding with agility 11 Distinguished service 36 Bolstering confidence 14 Award-winning golf course

Enhanced portfolio 15 Spurring Innovations Energy-efficient blowers 37 KrisEnergy plans preferential offering to raise $140m Strengthening industry partnerships 16 EMPOWERING LIVES United as OneKeppel 38 First-ever repair job for Ocean Rig Powering to victory 40 Meeting robust data centre demand 17 Active and engaged 41 Repeat success 18 Nurturing human capital 42 Energy issues in focus 19 Fostering a compliance-centric culture Deepening China insights Keppelites Around the World Safety, our collective responsibility 20 Overseas immersion 43 Realisation of a vision 23 NURTURING COMMUNITIES SPECIAL FOCUS Planting seeds of life 44 Distinguishing Keppel Fellows 24 Adding a dash of vibrancy Towards a common goal 26 A taste of home 45 Staying resilient Wheels of hope Innovative edge 27 Running for a cause 46 Building rapport, exchanging insights 28 On a roll Seeds of sustainability 30 Keppel Volunteers Leading the way 32 Brightening lives 47 Fueling LNG developments 34 BACK PAGE Positive response for Vietnam homes 48 Scenic Riviera in Sheshan

Cover image: Launching Keppel Fellows were Guest-of-Honour Mr Tharman Shanmugaratnam (centre), Singapore’s Deputy Prime Minister and Coordinating Minister for Economic and Social Policies, Dr Lee Boon Yang (left), Chairman of Keppel Corporation and Mr Loh Chin Hua (right), CEO of Keppel Corporation.

Published for people in the Keppel Group by the Group Corporate Communications Division, Keppel Corporation Limited, 1 HarbourFront Ave, #18-01 Keppel Bay Tower, Singapore 098632. Printed by Image Printers Pte Ltd, Blk 1002, Redhill Industrial Estate, Jalan Bukit Merah, #03-12, Singapore 159456.

Editorial Advisor Ho Tong Yen

Editor Eileen Tan

Editorial Committee Ang Lai Lee, Brian Higgs, Casey Chiang, Cheryl Goh, Chua Sian Howe, Donald Sng, Elizabeth Widjaja, Gabriela Hott Soares, Grace Chia, Guo Xiao Rong, Han Sufen, Hayley Teo, Hoo Yao Lin, Ivana Chua, Jayne Yeo, Kevin Ho, Liang Hui Hui, Lee Wan Jun, Mia Liu, Priscilla Chong, Razali Maulod, Ricky Ling, Roy Tan, Serena Toh, Song Jia Jia, Sue Ann Huang, Tang Yi Bing, Tay Jia Wei, Teri Liew, Tracy Pham, Woon Pek Yong, Yolanda Guo

Keppelite I November 2016 CO REG NO: 196800351N Editorial Forging strong partnerships to achieve workplace safety

At the Workplace Safety and Health Leadership at the event. He shared, “As OneKeppel, we Summit for Marine Industries on 23 November need to harness our collective strengths and tap 2016, Mr Sam Tan, Minister of State, Prime the different capabilities and best practices in the Minister’s Office & Ministry of Manpower, shared different business units in order to achieve Health that the marine sector had made significant Safety and Environment (HSE) Excellence.” improvements in workplace safety and health over the years. Mr Tan also said that he was Over the years, Keppel has sought to strengthen heartened that safety is a core value at Keppel, and partnerships across our operations which has commended Keppel’s management for taking the in turn led to heightened safety awareness and lead with innovative approaches to ensure workers’ enhanced systems. We established the Group safety, health and well-being. HSE Alerts system to better disseminate lessons learnt across our global operations and ensure Over the past decade, Keppel has made significant that preventive measures are taken promptly. strides in our safety journey. More than 65,000 An inaugural Global HSE Workshop was also people have been trained at the Keppel Safety organised by the Group in November 2015 to Training Centre and Safety Awareness Centres encourage collaboration across business units and since 2010. This year, Keppel was once again share best practices. the company which won the largest number of Workplace Safety and Health (WSH) awards. We work closely with our contractors and However, despite the progress made, fatalities and subcontractors to maintain high safety standards accidents continue to occur. Regrettably, the Group throughout our workforce. In 2015, Keppel suffered six fatalities so far this year, compared to invested approximately $46 million in enhancing four for the whole of 2015. More must be done infrastructure, upgrading systems and building in order to create a safe and healthy workplace knowledge and skillsets across the Group. Our for everyone. subcontract workers undergo the same safety training and are subjected to the same standards Key to achieving this goal is the combined as direct employees. To raise the safety bar, Keppel effort and cooperation of Keppel’s stakeholders, works closely with the Ministry of Manpower including not just Keppel’s board, management and WSH Council to roll out safety initiatives and and staff, but also unions, and our supply chain encourage our contractors to equip themselves comprising contractors and subcontractors. Close with the relevant safety qualifications. collaboration will allow the Group’s different business units to leverage one another’s strengths, Safety is a long-term journey. Together, we must refine and implement our HSE Strategy, and continue to inculcate and strengthen our safety support the goals set in Vision 2020. culture, put into practice our safety principles and steer the Group towards a safer future. The Keppel Group Safety Convention, held on 28 October 2016, is an annual platform to engage the Group’s stakeholders and share best practices and innovations to raise safety standards (see story on pages 20 to 22). Mr Tan Ek Kia, Chairman of Keppel Corporation’s Board Safety Committee reiterated the importance of strong partnerships

Keppelite I November 2016 4 Sustaining Growth Growth

Collaborating for growth Anchored on its multi-business strategy, Keppel continues to stay resilient amidst the ongoing headwinds, and is seeding new growth through the collaboration of its business verticals. Mr Loh Chin Hua, CEO of Keppel Corporation, presented the Group’s performance and key developments for 3Q & 9M 2016 via a ‘live’ webcast on 20 October 2016. Keppelite reproduces his speech.

MACRO ENVIRONMENT construction. With priority Global growth remains given to strengthening their Keppel is responding with agility slow. Weak demand balance sheets, the oil majors in the major advanced are expected to continue and resilience to the challenging economies, coupled with holding back on offshore environment, underpinned by our the transition to slower but exploration expenditure. On multi-business strategy. more sustainable growth in a more positive note, we China, are also weighing on see continuing interest in global trade. Against these Floating Production Storage (Keppel O&M) has remained floating desalination plants. headwinds, gross domestic and Offloading conversions profitable. Other Divisions in We expect that our O&M product (GDP) growth in and production solutions the Keppel Group continue business will be increasingly Singapore has slowed. such as tension leg platforms to bolster our earnings, diversified beyond just oil According to the Ministry of and semisubmersible with our Property business and gas. Trade & Industry Singapore’s production units, as well now the largest contributor, advance estimates, GDP as opportunities in the Infrastructure providing In the short term, painful grew by only 0.6% in the development of specialised steady recurring income, and measures which have kept third quarter, compared to vessels. our data centre and asset Keppel O&M profitable the same quarter a year ago, management businesses despite the sharp drop in which is the weakest rate of Also resilient amidst the serving as new areas of revenues and operating growth since the 2009 global global slowdown are growth. profits will have to financial crisis. strong urbanisation trends, continue. Reflecting our especially in Asia, driving Rightsizing of our Keppel solidarity as OneKeppel, The landscape for Offshore demand for quality homes O&M business will continue senior management across & Marine (O&M) remains and offices, infrastructure as we prepare for an all the Keppel business units very challenging. The big and connectivity, which extended period of weaker have voluntarily taken a news for the Oil & Gas sector Keppel is well-poised to meet demand for new oil rigs. reduction in our monthly during the quarter was as a provider of solutions for We are not just cutting costs salary. The directors of OPEC’s announced deal to sustainable urbanisation. and surviving the downturn Keppel Corporation will also cut production. Although still in the offshore industry, but be proposing lower directors’ scant on details, the news BUILDING A STRONGER are also investing prudently fees for 2016 at next year’s was welcomed by the oil KEPPEL in new capabilities and Annual General Meeting. market and we have seen oil Keppel is responding with exploring new markets and Whilst Keppel remains recover to above US$50 per agility and resilience to the opportunities. Our aim, as profitable, the voluntary barrel. Despite the gradual challenging environment, always, is to emerge from cuts by directors and senior recovery in oil price, demand underpinned by our multi- the downturn stronger. We management demonstrate in the offshore market is business strategy. are looking at re-purposing our determination to hunker expected to remain tepid. the technology that we have down, and deal squarely Oversupply remains a key Despite the strong headwinds developed for the offshore with the challenges we concern, worsened by the affecting the O&M industry, industry for other uses, such face. It is also the right overhang of rigs still under Keppel Offshore & Marine as floating power plants and thing to do, given the hard

Keppelite I November 2016 Sustaining Growth 5

measures we have taken to Economic Value Added OFFSHORE & MARINE continues to retain its core rightsize our O&M Division was S$39 million while our In this quarter, Keppel O&M capabilities. Other parts of and the sacrifices that our annualised Return on Equity continued to rightsize, the Keppel Group are still stakeholders have to make. (ROE) was 7.6%. further reducing its direct growing and are in need of workforce by about 3,080. good people, especially those For our asset-heavy Cash from operating This includes a reduction of with strong engineering businesses, such as Property activities has reversed from around 660 in Singapore and and project management and Infrastructure, our focus an outflow of S$738 million 2,420 in our overseas yards. expertise. Where possible, is on returns. In seeking in the first nine months of we will look to redeploy higher returns, we proactively 2015 to an inflow of S$274 For the first nine months of displaced talents to other recycle our capital and million over the same period the year, Keppel O&M has business units within the co-invest with like-minded this year. This turnaround has reduced its direct workforce Group. partners through platforms been led by lower working by close to 8,000 or around such as those in our capital requirements for 26%. Apart from reducing variable newly-created Keppel Capital. Keppel O&M, better asset costs, we have also worked We see strong investor turns in our Property Division, Much of the reduction has on cutting our overheads demand for real assets such and improving cash inflows so far been through natural which have come down by as data centres, power plants, from our Infrastructure attrition. However, we will close to 20% year-on-year offices and waste-to-energy business. also increasingly look into in the first nine months (WTE) plants, and Keppel early termination of contracts of 2016. These efforts, can partner with investors Net gearing has reduced and selective retrenchment together with cost savings to develop these assets from slightly from 0.62x as at in Singapore, in line with achieved on our projects, greenfield and brownfield. end-June 2016 to 0.57x as at the drop in workload, while have allowed our operating These partnerships allow us end-September 2016. ensuring that Keppel O&M margins to remain at 11.4% to more ambitiously grow our Infrastructure and Property Continues on page 6... businesses and to capture value in the process, without overburdening our balance sheet.

We are also driving collaboration across the Group, to harness synergies, capture new business opportunities and create value. I will highlight examples of how collaboration within our Group has started to bear fruit.

FINANCIAL PERFORMANCE In the first nine months of 2016, our business divisions achieved a net profit of S$641 million. This was down 43% year-on-year, mainly due to lower profit contributions from the O&M With an extensive suite of gas solutions, Keppel is well-positioned to capture opportunities across the value chain of a growing gas market Division.

Keppelite I November 2016 6 Sustaining Growth

...continued from page 5.

for 3Q 2016 and 12.5% for further announcements as new markets. These include Towage and Maju Maritime’s nine months of this year appropriate. production solutions, gas dual-fuel tugs. Keppel will despite the lower top line. solutions and specialised leverage its shipbuilding We are also reviewing our The O&M Division has vessels, as well as non-oil and and design capabilities, and yard capacity in light of secured new contracts worth gas solutions. LNG bunkering services to declining workload. about S$500 million year- provide end-to-end solutions to-date. We see a promising future for vessel owners turning to The harsh winter in the O&M for the liquefied natural gas LNG as a marine fuel. market will not last forever. Even as we work at (LNG) market over the long We are not just cutting costs optimising our operations term. The use of LNG as Keppel O&M, through its to survive the short term. and resources, we remain an alternative marine fuel subsidiary Gas Technology We are taking advantage of focused on the timely and is on the rise as a result of Development, has also the downturn to restructure effective execution of our emissions reduction goals set signed an MOU with Shell Keppel O&M and make order book. Twenty projects by the International Maritime to jointly explore potential the company leaner, more were delivered on time and Organisation and the United opportunities catering to competitive and stronger on budget in the first nine Nations Climate Change the demand for LNG as when spring returns. months of 2016, including Conference. a fuel in coastal areas, nine in the third quarter. Four inland waterways and the We are monitoring the additional projects are slated Keppel is well-positioned international marine sectors. political developments and for delivery in the last quarter to capture opportunities investigations in Brazil, which of the year. across the value chain in Keppel has long been known continue to widen in scope. the growing gas market. for our innovative solutions, While we wait for more We have secured orders and we will continue to In October 2016, clarity on Sete’s plans, we for our first two dual-fuel expand our suite of we announced that believe that the provision tugs, which will be built solutions and pursue new following further internal of S$230 million taken at to Keppel’s award-winning opportunities for growth. investigations, Keppel the end of 2015 remains proprietary design. recognised that certain appropriate and adequate. PROPERTY transactions associated with Our joint venture with Shell, Keppel Land has been actively the agent of some Keppel We are looking out for FueLNG, has also secured implementing our strategy to entities in Brazil may be opportunities to leverage its first two contracts from recycle assets and focus on suspicious. Keppel has since our expertise to service Shell to provide bunkering seeking higher returns. We notified the authorities in niche, adjacent, or even services for Keppel Smit have achieved divestment the relevant jurisdictions of its intention to cooperate and work towards the resolution of the underlying issues arising from or in connection with the transactions.

I want to reassure all our stakeholders of Keppel’s zero-tolerance stance against any form of illegal activity, including bribery and corruption, involving its employees or associates. The matter is closely under review and we will make The acquisition of a newly completed retail development in Jiading District, Shanghai, is part of Keppel Land’s strategy to seize opportunities in key Chinese cities

Keppelite I November 2016 Sustaining Growth 7

proceeds totalling about S$530 million year-to-date.

Amongst the divestments in this quarter was the 80% stake held by Keppel Land China and Alpha Investment Partners (Alpha) in Life Hub @ Jinqiao (Life Hub), a successful mixed-use development in Shanghai, China, for US$517 million.

Significantly, our stake in Life Hub was divested based on the property’s sale value The recently launched Palm Heights in Ho Chi Minh City, Vietnam, sold more than half of its total units in one weekend of RMB 5.5 billion, which is close to a 70% premium over the original purchase redeploy our funds and Keppel Land’s approach of total sales value amounted price of RMB 3.3 billion three have made investments of “Thinking Unboxed”. to some S$1.6 billion. years ago. It is an example of about S$430 million this year the successful collaboration especially in our key markets Strengthening our presence Of these, 2,940 homes were between Keppel Land of Vietnam and China, where in Yangon, Myanmar, we are sold in China, up 32% year- China and Alpha, which we are strengthening our furthering our collaboration on-year. In Vietnam, we is now under Keppel presence. with Shwe Taung Group sold 260 homes over the Capital. Through innovative with a conditional joint same period, including all asset management and In Shanghai, Keppel venture agreement for a 135 units of the newly enhancement efforts, we Land China is acquiring 40% stake in developing launched Palm Residence in contributed to growing a newly completed retail premium serviced residences HCMC over one weekend. a profitable mall which development in the and offices in the next phase enjoys high occupancy upcoming Jiading District, of Junction City. This follows In addition, we are launching with international retailers. for a total consideration Keppel Land and Shwe around 1,500 homes for sale This has proven to be an of approximately Taung’s first joint venture to in Vietnam in the fourth excellent investment for S$102 million. Keppel Land develop Junction City Tower, quarter of the year. Over Keppel, and also Alpha’s Retail Management will be a Grade A office building in the weekend of 15 October investors. We have achieved its manager and contribute Yangon’s CBD. 2016, we sold 450 homes in an internal rate of return of to enhancing the value of Palm Heights, also in HCMC. over 20% per annum without the community mall. Riding on growing demand These new sales are not in taking any development for high quality properties our reported nine month risks. The examples of the Life in Vietnam, we have also numbers. Hub and Jiading malls increased our involvement Keppel Land is also unlocking demonstrate how we are in prime developments in Despite continuing property value in Sedona Hotel building new muscles, and Ho Chi Minh City’s (HCMC) market cooling measures, we Mandalay, of which it has shortening time to market. Thu Thiem New Urban Area. sold 300 homes in Singapore inked a conditional sales As a property player, we do in the first nine months, and purchase agreement to not have to physically develop For the first nine months of compared to 155 units divest its 100% stake. all our projects ourselves but this year, Keppel Land sold sold over the same period can also selectively acquire 3,510 homes. This is 13% last year. Simultaneously, we are and add value to completed higher compared to the seizing opportunities to projects. This reflects same period last year. The Continues on page 8...

Keppelite I November 2016 8 Sustaining Growth

...continued from page 7.

We opened the much we are not under pressure progressively completed commenced the operations anticipated Saigon Centre to accumulate land and will and will contribute to and maintenance phase retail mall on 1 August only do so if we can get our recurring income and for the solids stream and 2016, with Takashimaya an adequate risk-adjusted revaluation gains. sludge treatment facilities Department Store as its return. As we look to turn in the Doha North Sewage anchor tenant. Phase Two our inventory more, we can INFRASTRUCTURE Treatment Works in Qatar. of Saigon Centre, which rightsize our property book Keppel Seghers, a wholly- The 10-year operations and also includes 44,000 sm of and re-deploy the balance owned subsidiary of Keppel maintenance phase of the premium Grade A office sheet space that is freed Infrastructure, has secured contract will contribute space as well as 195 luxury up for our other growth a contract from repeat to stable income streams, serviced apartments, is businesses. Our objective customer Shenzhen Energy while Keppel Infrastructure expected to be completed is not to create the largest Environment Engineering continues to seek new in end-2017. landbank or property to provide technology and opportunities to design, business but one that builds services to the Baoan WTE build, own and operate its In our residential portfolio, good homes, offices and plant in Shenzhen, China, own assets. we have a 70,000-strong commercial developments which will make it the pipeline and over 16,000 sought after by buyers and world’s largest WTE facility The mega trends of data launch-ready homes from tenants. Our goal is to keep in terms of incineration traffic, cloud computing now till end-2018. We aim Keppel Land a developer capacity. The contract win and Big Data augur well for to increase the inventory with one of the highest ROEs reinforces Keppel’s position our data centre business. turn and launch more homes in Asia. as the leader among Demand for data centres for sale, especially in those imported WTE technology remains strong in Europe and markets with favourable On the commercial front, solutions providers in the Asia-Pacific. conditions. With a landbank Keppel Land has over China. comprising more than 10 one million sm of gross floor This is a business that we will times the number of homes area under development. We have also completed continue to grow as Keppel sold on average each year, These projects will be the handover, and Data Centres Holding, a joint

Keppel Seghers has won a contract from repeat customer Shenzhen Energy Environment Engineering to supply technology solutions for the Baoan Waste-to-Energy (WTE) plant, which will be the world’s largest WTE facility in terms of incineration capacity

Keppelite I November 2016 Sustaining Growth 9

venture between Keppel Telecommunications & Transportation (Keppel T&T) and Keppel Land, has firmly established itself as a trusted partner and operator of data centres by the industry. We will continue to improve the value proposition to our customers by looking into the energy efficiency, connectivity, security and reliability of our data centres.

In October 2016, we announced that Keppel Data Centres Holding will unlock value with the divestment of 90% of Keppel DC Singapore 3 to Keppel DC REIT for over S$200 million. This will allow Keppel Data Centres The good returns from the divestment of Keppel’s stake in Life Hub @ Jinqiao reflect the successful partnership between Keppel Land China and Alpha Investment Partners Holding to recycle its capital and provides a valuable deal flow pipeline for unitholders Meanwhile, our distribution our interests squarely with investing successfully in of Keppel DC REIT. centre in the Sino-Singapore investors by co-investing real assets. Tianjin Eco City began significantly in the REITs Keppel Logistics has just operations in 3Q 2016, and and Trust that we manage. With the latest approval, announced the acquisition will cater to the growing Keppel also provides a Keppel Capital can strive of a stake in a Singapore- market in Northern China. steady flow of pipeline for better operating based e-commerce fulfilment assets for growth, and efficiencies and provide company, Courex. This is in INVESTMENTS has strong operating more varied and complete line with Keppel’s plans to The creation of Keppel capabilities in driving value career opportunities for grow our Logistics Division Capital is a critical piece from the assets that we its investment and asset by acquiring complementary of our business model in manage. management professionals. capabilities to tap into fast- how we can pool together Keeping investors’ interests growing market sectors. like-minded investors to Keppel Capital has recently at heart and ensuring that Courex’s cloud-based co-fund the development received approval from any conflicts are properly inventory management of infrastructure, energy the Monetary Authority of managed will remain a key platform and crowdsourcing and property assets from Singapore to centralise certain part of Keppel Capital’s DNA model of managing its delivery greenfield and brownfield. regulated activities carried and processes. fleet will allow Keppel to gain The REITs and Trust under out by its licensed asset a competitive foothold in Keppel Capital also form managers, in addition to Drawing on the Group’s the rapidly growing part of a critical ecosystem non-regulated activities. This strengths, Keppel Capital e-commerce space. The for capital recycling. It is a is a significant step towards will connect financial acquisition will strengthen our symbiotic relationship that allowing Keppel Capital to investors with high-quality ability to tap the e-commerce we share with unitholders. fulfill its vision to become real assets in the energy, sector in Singapore and As a strong and responsible a global asset management Southeast Asia. sponsor, we have aligned powerhouse focused on Continues on page 10...

Keppelite I November 2016 10 Sustaining Growth

...continued from page 9.

infrastructure and property spaces, whilst creating pull- Our strategic moves and rightsizing efforts ensure that the through opportunities for Group remains resilient and nimble in the face of harsh our business verticals. We are encouraged by positive challenges. feedback from both existing We will continue to work our assets hard, and then and prospective investors, many of whom are large recycle them at the right time, to earn the best pension and sovereign wealth risk-adjusted returns. funds seeking alternative investments with steady, predictable cash flows.

We announced in the last the National Environment total net profit. We are office tenants and external quarter that Keppel Capital Agency of Singapore, determined to improve the customers. had launched a new data ahead of schedule and on quality of our earnings by centre fund and a property budget, thus improving the growing stable streams of The good returns from the fund through Alpha with operating cash flow from recurring income for the divestment of our stake in a combined target size of the plant. long term. Life Hub reflect the successful US$1.5 billion. I am pleased partnership between to update you that the FORTIFYING EARNINGS CREATING SYNERGIES Keppel Land China and Alpha Asia Macro Trends STREAMS By hunting as a pack and Alpha. Fund III has made its first Our strategic moves and capitalising on synergies as acquisition of an office rightsizing efforts ensure OneKeppel, I am confident The Alpha Data Centre Fund, building in Tokyo, Japan. that the Group remains that we will perform better a product of collaboration Meanwhile, the Alpha Data resilient and nimble in as a business, both in good between Alpha, Keppel Centre Fund, set up in the face of harsh times and when the going T&T and Keppel Land, is yet collaboration with Keppel challenges. gets tougher. another example of how T&T, is close to making its we can compound value maiden acquisition. When We will continue to work An immediate opportunity creation as a Group, layering fully invested, the two new our assets hard, and then for us is to further encourage our diverse strengths to private funds will add as recycle them at the right the flow of goods and create winning propositions much as US$3.5 billion to time, to earn the best services between Keppel for customers and investors. Keppel’s total assets under risk-adjusted returns. companies and associates. management. Gains from revaluations, In September 2016, Keppel Whilst we have started impairments and divestments Land had begun purchasing to see some fruits from Our asset managers of contributed S$91 million or renewable energy from collaborating and unleashing the public-listed REITs and 14% of our earnings in the Keppel Infrastructure to synergies across our business Trust have also made good first nine months of 2016. power its corporate office units, the potential to do progress. Keppel DC REIT’s These sources of income at Bugis Junction Towers in even more is there. We are

portfolio of quality data are an integral part of our Singapore. The renewable only just beginning. keppelite centres was expanded by business model and we energy is harvested from new acquisitions in Italy and expect them to contribute photovoltaic panels installed the United Kingdom in the regularly and meaningfully in premises operated by past three months. to our bottom line. Keppel Infrastructure and is then transferred to Keppel Meanwhile, Keppel For the first nine months Land. There is also potential Infrastructure Trust has of 2016, recurring income for Keppel Infrastructure completed the upgrading contributed S$237 million and Keppel Land to offer of the Senoko WTE Plant for or 37% of the Group’s similar schemes to other

Keppelite I November 2016 Sustaining Growth 11

Responding with agility Keppelite reproduces the speech delivered by Mr Chan Hon Chew, CFO of Keppel Corporation, at the Group’s 3Q & 9M 2016 results webcast.

The Group recorded a net FINANCIAL HIGHLIGHTS profit of S$225 million this quarter, which was 38% S$m 3Q 2016 3Q 2015 % Change 9M 2016 9M 2015 % Change below the same quarter last Revenue 1,459 2,440 (40) 4,827 7,817 (38) year. Earnings per share (EPS) was correspondingly 38% Operating Profit 185 371 (50) 697 1,183 (41) lower at 12.4 cents, while Profit before Tax 286 470 (39) 849 1,423 (40) Economic Value Added (EVA) was S$30 million. Net Profit 225 363 (38) 641 1,120 (43) EPS (cents) 12.4 20.0 (38) 35.3 61.7 (43) 3Q 2016 FINANCIAL HIGHLIGHTS The Group’s revenue for the third quarter was 40% or or S$138 million. Similarly, The O&M Division’s pre- stake in Life Hub, as part S$981 million lower than in EPS decreased 38% to tax profit fell from of the continuing process the same quarter last year. 12.4 cents. S$206 million to S$22 million, of recycling capital to earn All Divisions except Property a steep 89% or S$184 million higher returns. recorded lower revenue SEGMENTAL REVIEW decline from the same during the quarter. Overall, the Group’s revenue quarter last year. This was The Investments Division’s was 40% lower than in the driven by the 63% drop pre-tax profit decreased Operating profit of same quarter last year, driven in revenues, as well as a by 40% mainly as a result S$185 million was 50% largely by the 63% decline in S$10 million impairment of share of losses from or S$186 million lower the O&M Division as a result provision for plant and KrisEnergy and lower share as compared to the same of lower volume of work, machinery. Despite the of profits from k1 Ventures. quarter in 2015. This deferment of some projects sharp 63% fall in revenues, was due mainly to lower and suspension of the the Division did well to After tax and non-controlling profits from the Offshore & Sete Brasil contracts. achieve an operating margin interests, the Group’s net Marine (O&M), Property and of 11.4%, less than one profit in the third quarter Infrastructure Divisions. The Infrastructure Division percentage point lower than decreased by 38% or recorded lower revenue as the 12.3% margin in the S$138 million to S$225 million Profit before tax decreased well, due mainly to lower same quarter last year. The as compared to the same by a smaller extent of 39% to prices and volume from the ongoing rightsizing exercise period last year. Property was S$286 million due to higher power and gas businesses. which started more than the top contributor to the contribution from associated a year ago contained the Group’s earnings at 70%, companies, including the This was partially offset by a erosion of its margins in the followed by Infrastructure gain from the sale of Life 4% growth in the Property third quarter. at 17%. Hub @ Jinqiao (Life Hub) in Division’s revenue, primarily Shanghai, China. due to higher revenue from The Property Division’s pre- 9M 2016 FINANCIAL residential projects such as tax profit increased by 9% HIGHLIGHTS Correspondingly, net profit The Glades and Highline or S$17 million due mainly Net profit for 9M 2016 after tax and non-controlling Residences in Singapore, to higher share of profit from was down 43% from the interests for the third and Waterfront Residence in associated companies arising quarter was lower by 38% Tianjin, China. from the divestment of our Continues on page 12...

Keppelite I November 2016 12 Sustaining Growth

...continued from page 11.

same period last year to second quarter of 2016, net the same period last year, led S$641 million. Similarly, S$641 million. EPS also gearing has decreased 5% by lower profit from O&M EPS decreased by 43% to decreased by the same extent from 62%. This was due and Infrastructure. Operating 35.3 cents. to 35.3 cents. Annualised mainly to proceeds from profit from Property was Return on Equity declined to recycling of assets such as lower due to the absence SEGMENTAL REVIEW 7.6%, while EVA was lower the divestment of our stake of write-back of excess cost Overall, the Group’s at S$39 million. in Life Hub, proceeds from accruals. 9M 2016 revenue of the sale of development S$4.8 billion was 38% lower Free cash inflow was projects, and the receipt of Pre-tax profit correspondingly from last year, led mainly S$552 million, as compared retention monies from our decreased by 40% or by the 58% decrease in to an outflow of S$784 EPC projects in Qatar. S$574 million due mainly to O&M revenue resulting million in the prior year due lower operating profit, share from lower volume of work, mainly to the slowdown in In 9M 2016, the Group of losses from KrisEnergy, deferment of some projects working capital increases earned a total revenue of lower share of profits from and suspension of the Sete and lower operational S$4.8 billion, a 38% or other associated companies Brasil contracts. capital expenditure from S$3 billion decrease from the and higher net interest the Offshore & Marine and same period last year. Except expense, partially offset by Meanwhile, revenue from Property Divisions. for Property, all Divisions share of profit from the sale the Property Division recorded lower revenues. of Life Hub. increased by 24% to Net gearing increased by S$1.5 billion as compared 4% from 53% at the end 9M 2016 operating profit of After tax and non-controlling to the same period last year, of 2015 to 57%. However, S$697 million was 41% or interests, net profit was 43% led by higher revenue from in comparison to the S$486 million lower than in or S$479 million lower at residential projects such as

Net Profit & EPS

Net profit (S$m) EPS (Cents) 2,237 124.8 1,946 619 1,846 1,885 109.4 34.5 102.3 103.8 1,525 844 685 726 84.0 346 47.4 38.0 39.9 4Q: 4Q: 19.3 4Q: 4Q: 405 22.3 521 3Q: 3Q: 29.1 3Q: 406 457 414 22.9 363 22.8 25.3 20.0 641 2Q: 35.3 3Q: 2Q: 347 406 397 3Q: 384 225 21.6 19.2 22.3 21.9 12.4 751 2Q: 41.9 2Q: 1Q: 205 1Q: 11.3 357 19.8 312 339 360 1Q: 17.6 18.7 19.8 1Q: 211 11.6

Keppelite I November 2016 Sustaining Growth 13

Trust, partially offset by S$611 million, significantly the provision for losses on less than the outflow of the Doha North Sewage S$1.79 billion in the prior Treatment Works. period. This was driven mainly by the cash proceeds The Investments Division’s from sale of development pre-tax profit decreased properties and the slowdown by 62% or S$96 million in working capital increases due to share of losses from in the O&M Division. This KrisEnergy and lower share resulted in the net cash of profit from k1 Ventures. inflow from operating The pre-tax profit included activities of S$274 million as S$51 million from Keppel compared to an outflow of Capital’s fund management S$738 million in the same business. period last year.

After tax and non- Net cash generated from controlling interests, the investing activities amounted Group’s earnings decreased to S$278 million, comprising 43% or S$479 million to mainly investment As part of the process of recycling capital to generate higher returns, Keppel DC Singapore 3 S$641 million, with the and dividend income of was divested to Keppel DC REIT in 3Q 2016, unlocking cash for Keppel to pursue its growth strategies Property Division being the S$360 million, less top contributor at 55% investments and operational followed by O&M at 26%. capital expenditure of 8 Park Avenue in Shanghai, In the Property Division, S$97 million. China, and The Glades in pre-tax profit increased by Amidst a poor market Singapore. 14% or S$56 million due environment especially in As a result, there was mainly to higher contributions the O&M sector, the Group an overall cash inflow of Infrastructure’s revenue from associated companies recorded a creditable net S$552 million for 9M 2016, decreased by 22%, as a result of gains from profit of S$641 million for as compared to a cash attributed mainly to lower the disposal of Life Hub and 9M 2016. 3Q 2016 results outflow of S$784 million in prices and volume from the gains from Keppel REIT’s remained comparable to 9M 2015. power and gas businesses. divestment of the office each of the first two quarters tower at 77 King Street in of the year on a quarter-to- OUTLOOK In 9M 2016, the Group Sydney, Australia. quarter basis. The Group remains recorded a pre-tax profit committed to our multi- of S$849 million, 40% or Infrastructure’s pre-tax This translated to EPS of business strategy, as we S$574 million lower than in profit was lower by 48% or 35.3 cents, which was 43% harness the strengths of our 2015. S$88 million, due mainly to lower than the corresponding core competencies to stay divestment gains recognised period in 2015. responsive to changes in the The O&M Division’s in the same period last year. macro environment. pre-tax profit was 66% or The Division’s profits in 2015 FREE CASH FLOW S$446 million lower as a were boosted by gains from In 9M 2016, operational cash We are also focused on result of lower revenue and the divestment of its 51% inflow was S$885 million, capturing greater efficiencies higher interest expense. interest in Keppel Merlimau S$167 million below the by controlling our costs, so The Division’s operating Cogen and dilution re- previous period. as to build resilience for the margin for the first nine measurement gains from future into our businesses and months at 12.8% was at the combination of Keppel Outflow for working stay the course in creating about the same level as Infrastructure Trust and capital changes, interest value for our stakeholders in last year. CitySpring Infrastructure and income tax was the long term. keppelite

Keppelite I November 2016 14 Sustaining Growth

Bolstering confidence Keppelite shares highlights of senior management’s responses to questions from the investment community.

Q: Will there be a need will bear the burden of Q: KrisEnergy has Q: Some residential to cut more jobs in this cut. As a Group, the challenges meeting some launches in China and Keppel O&M in 4Q 2016? voluntary salary cut is an act of its debt covenants. Vietnam seem to have How do you see 2017 of solidarity. Bear in mind To what extent would been scaled back. Can shaping up? that our salary structure Keppel lend a helping you comment on why LCH: Given our expectations has variable components, hand? Do you have this is so? that the market will continue which allow for flexibility. to writedown your AWG: Units for launch will be to be slow for the foreseeable Total compensation will investment in them due lower as projects sell out. The future, we have to continue correspond with business to a lower recoverable data provided in our results to rightsize. We have been performance. value? slides are indicative and do relying on natural attrition up LCH: KrisEnergy is an not take into consideration till now. Moving forward, we Q: Is the provision of associate company and new projects that may be will look at ending contracts S$230 million made in investment. They have secured in the future. The a bit earlier and possibly 4Q 2015 for the projects to make plans to try and numbers will have to be consider retrenchment, but I with Sete Brasil still solve the challenges. As a adjusted accordingly. am unable to share more as adequate? shareholder, we will look there are no concrete plans LCH: At this point in time, at those plans and make Keppel Land has an existing at this point in time. we believe it is appropriate a decision. landbank of 70,000 units. and adequate. We will We are monitoring the For 2017, we believe evaluate this every quarter CHC: We review the value of markets closely and if that the O&M headwinds with our auditors, as well our investment in KrisEnergy conditions are favourable will continue to be quite as the audit committees of every quarter. As of 3Q 2016, and attractive, we will launch challenging. It is very hard both Keppel Corporation there was no need for a more units over the next

to say how next year will and Keppel O&M. writedown. We will continue few years. keppelite shape up as this depends on to monitor this and review the economy and on policies. Q: You have been again at year-end. LCH – Mr Loh Chin Hua, While we are hopeful for reviewing yard capacity CEO of Keppel Corporation a brighter 2017, we are as part of rightsizing Q: What is Keppel Land’s CHC – Mr Chan Hon Chew, prepared that things will efforts. When do you strategy for Myanmar? CFO of Keppel Corporation continue to stay quite tough expect to make a AWG: Over the past 20 CYY – Mr Chow Yew Yuen, as in 2016. decision? years, we have built up our CEO of Keppel Offshore & CYY: We have left no stone reputation as well as a strong Marine Q: How much of a salary unturned in the rightsizing network of relationships in or fee cut will directors exercise over the last 18 to Myanmar. With a capable AWG – Mr Ang Wee Gee, and senior management 19 months. With lower ground team, we are in a CEO of Keppel Land be taking? revenue comes excess good position to capitalise LCH: We do not provide capacity. We have been on opportunities there. We information on salary cuts looking at all our yards consider Myanmar to be a but the directors’ fee cut and where we can reduce country with huge potential will be announced at next capacity. There will be some and are monitoring the year’s Annual General yards that we can consider market very closely. When Meeting. Most of the senior mothballing and we will opportunities open up, we management at Keppel make it known when the would be keen to invest O&M and across the Group decision is made. further.

Keppelite I November 2016 Sustaining Growth 15

Enhanced portfolio

Keppel DC REIT Unitholders Built to energy-efficient approved the REIT’s and carrier-neutral proposed acquisition of a specifications by Keppel 90% interest in Keppel DC Data Centres Holding, a joint Singapore 3 (KDC SGP 3), venture between Keppel formerly known as T27 Telecommunications & or Keppel Datahub 2, at Transportation and Keppel an Extraordinary General Land, KDC SGP 3 will Meeting held on 7 November improve Keppel DC REIT’s 2016. portfolio occupancy rate and lease profile. Besides being accretive to the REIT’s distribution per The acquisition will be Keppel DC REIT Unitholders approved the acquisition of a 90% interest in Keppel DC unit, the addition of KDC funded by the recently Singapore 3 (pictured) at an Extraordinary General Meeting held on 7 November 2016 SGP 3 as the REIT’s third completed preferential asset in Singapore will also offering which allowed price and participate in its leverage will be lowered to strengthen its foothold in Unitholders to increase their expansion. Post acquisition 27.7%, allowing increased one of the fastest-growing investment in Keppel DC and preferential offering, debt headroom for future data centre hubs in Asia. REIT at a discounted issue Keppel DC REIT’s aggregate growth. keppelite

KrisEnergy plans preferential offering to raise $140m

KrisEnergy, in which for by other shareholders. The preferential offering is among others, the existing Keppel Corporation owns In addition, Keppel is in part of KrisEnergy’s proposed noteholders’ approval of a 39.9% stake, is planning discussions with KrisEnergy financial restructuring the CSE. a preferential offering to to establish Keppel Offshore efforts, which include a raise up to $140 million. & Marine as a preferred Consent Solicitation Exercise The net proceeds from The zero-coupon secured partner to provide KrisEnergy (CSE) in relation to its notes the proposed preferential notes with free detachable with offshore and marine maturing in 2017 and 2018 offering will be used for warrants will be offered on solutions. to reduce the notes’ coupons capital expenditures relating a pro-rata basis to all to 4%, from 6.25% and to the Group’s existing existing KrisEnergy Each warrant will carry the 5.75% respectively, and to assets, repayment of the shareholders. right to subscribe to one extend the maturity dates bridge upsize and general

new share in KrisEnergy at an of the notes by five years, working capital. keppelite Keppel will subscribe to exercise price of 11 cents per among other terms. It is also its pro-rata share of the share. The warrants, if fully seeking to restructure its notes, and will also take exercised, would provide credit facility with DBS Bank. up all excess notes that are KrisEnergy with an additional The proposed preferential not successfully subscribed $138 million. offering is conditional upon,

Keppelite I November 2016 16 Sustaining Growth

Strengthening industry partnerships

Keppel Offshore & Marine (Keppel O&M) was one of eight industry leaders to sign a memorandum of understanding with the new Technology Centre for Offshore and Marine Singapore (TCOMS), to explore research collaboration in offshore and marine engineering Mr Chow Yew Yuen (fifth from left), CEO of Keppel Offshore & Marine, at the launch of the Technology Centre for Offshore and Marine technologies, on 31 October Singapore, which was officiated by Mr S Iswaran (eighth from left), Minister for Trade and Industry (Industry) of Singapore (Photograph courtesy 2016. of the National University of Singapore)

Launched on the same industry players, research Mr Chow Yew Yuen, CEO of “Through our partnership day, TCOMS aims to institutions and academia. A Keppel O&M, shared, “As with TCOMS, we hope to enable the local offshore key feature of the new centre part of efforts to innovate develop more robust and and marine engineering will be a next-generation and identify growth areas, innovative solutions that industry to undertake Deepwater Ocean Basin Keppel is always seeking new can effectively address the higher-value activities equipped with simulation opportunities to collaborate needs and challenges of through encouraging global capabilities, including smart with leading educational and the offshore and marine

partnerships between sensing and data analytics. research institutions. industry.” keppelite

First-ever repair job for Ocean Rig

BrasFELS recently completed Airton Rodrigues, Assistant the re-delivery of the Operations Manager, drillship Corcovado, its first- BrasFELS, said, “We are ever repair job for Ocean pleased to forge a strong Rig UDW, a Greece-based partnership with Ocean Rig offshore drilling contractor. and work closely together towards a safe and successful BrasFELS’ work scope for this re-delivery.” project comprised piping and steel outfitting, fabrication Over the years, BrasFELS and installation. The has undertaken more than vessel entered the yard on 50 repair projects for both 20 October 2016 and Brazilian and international

departed on 22 November customers. keppelite 2016.

Drillship Corcovado is BrasFELS’ first repair job for Ocean Rig

Keppelite I November 2016 Sustaining Growth 17

Meeting robust data centre demand

Keppel Data Centres Holding the same time, companies commitment to create value 20,000 sm and is fitted out (KDCH), in collaboration with are facing pressures to scale for investors by drawing to Uptime Tier III-equivalent the Alpha Data Centre Fund their IT infrastructure to keep on the synergies of the specifications. The partially- (Alpha DC Fund) managed pace with fast-changing Keppel Group. Through the occupied facility can currently by Alpha Investment Partners technology trends. Alpha DC Fund, investors support an IT load of 4.8MW. (Alpha), have jointly entered are able to participate in a With additional investment into a real estate and “Keppel T&T is well-placed fast-expanding sector that and planning consent, the asset purchase agreement to meet these demands as a is underpinned by strong facility will be able to draw to acquire a data centre trusted data centre services growth trends.” additional power up to in Europe’s key internet provider. Our collaboration 40MVA to meet growing exchange of Frankfurt, with the Alpha DC Fund To be named Keppel DC demand for quality data Germany, for a purchase allows Keppel T&T to build Frankfurt 1 (KDC FRA 1), centre space in Germany. consideration of EUR 76 on our established data the two-storey facility is million (approximately centre track record to rapidly sited on freehold land in KDCH and/or its affiliates are S$116.8 million). This marks deploy capital, scale up and the Am Martinzehnten expected to be appointed the first acquisition for leverage the fast-paced Industrial Park, which is to provide development the Alpha DC Fund since demands of the industry,” in close proximity to the and management services it achieved first closing in he added. city centre and Frankfurt in respect of the operation July 2016. Airport. Frankfurt is also the of the facility. The facility Ms Christina Tan, CEO of home of the DE-CIX Internet will provide high availability Upon the expected Keppel Capital and MD of Exchange, the world’s largest data centre services to a completion of the transaction Alpha, said, “Alpha DC internet exchange, ensuring leading global financial in 4Q 2016, the Alpha DC Fund’s maiden acquisition low-latency and high-quality institution, which will Fund and KDCH will own of a quality data centre connectivity. use approximately 25% 60% and 40% interest in facility, less than four months of the data centre space, the data centre respectively. from the fund’s inception, is KDC FRA 1 features a gross with an option for further

KDCH is a 70-30 joint testament to Keppel Capital’s floor area of approximately expansion. keppelite venture between Keppel Telecommunications & Transportation (Keppel T&T) and Keppel Land, while Alpha is a wholly-owned subsidiary of Keppel Capital. KDCH will be funding the acquisition through borrowings and/or internal resources.

Mr Thomas Pang, CEO of Keppel T&T, said, “We are seeing robust demand for high-availability data centre space from businesses, financial institutions and cloud providers, stemming from post-Brexit data sovereignty concerns. At Keppel Data Centres Holding and the Alpha Data Centre Fund have announced the acquisition of Keppel DC Frankfurt 1 in Europe’s key internet exchange of Frankfurt, Germany

Keppelite I November 2016 18 Sustaining Growth

Repeat success

Following the successful re- deliveries of semisubmersible rigs Ocean Rover, Ocean Patriot, Ocean Monarch and Ocean Quest, Keppel FELS was tasked by repeat customer Diamond Offshore with a series of upgrading works on its ultra-deepwater harsh environment semisubmersible, Ocean Great White, in 3Q 2016. Keppel FELS was awarded a US$100,000 bonus from repeat customer, Diamond Offshore, for its early delivery of semisubmersible The work scope on Ocean Ocean Great White Great White included an upgrade in rig stability, station keeping and the removal of marine growth from submerged areas, making it one of the most challenging repair jobs undertaken by Keppel FELS. Multiple works of various trades were also carried out at the same time. The rig arrived in Singapore in August 2016 and column installation was completed ahead of schedule.

An inclining experiment was carried out after the major structural changes were Upgrading works performed on Ocean Great White (pictured) was one of Keppel FELS’ most challenging projects in 2016 completed. Subsequently, a sea trial was conducted in the South China Sea in we kept to our timeline and Offshore, said, “We were “All our partnerships with October 2016 before the rig maintained a high standard once again impressed Keppel FELS have proven departed in the same month. of safety and quality. Our with the professionalism that Keppel does not just strong partnership with and responsiveness of the deliver to meet expectations Mr Chris Ong, MD, Keppel Diamond Offshore enabled Keppel FELS project team. but value-adds to each job. FELS, said, “The entire project us to ensure a smooth and Their dedication gave us Ocean Great White was no was executed offshore at successful delivery.” the confidence to award exception. We look forward anchorage, so we had to the additional work scopes to our next project together.”

overcome logistical and Mr David Wedgeworth, to Keppel instead of keppelite executional obstacles while Director of Engineering engaging third-party working hard to ensure that Projects, Diamond vendors.

Keppelite I November 2016 Sustaining Growth 19

Deepening China insights

Guest-of-Honour and Minister for Trade and Industry (Industry) of Singapore, Mr S Iswaran Over 120 government, technologies on businesses (centre); Chairman of Keppel Corporation, Dr Lee Boon Yang (left); and CEO of Keppel business and academic and the global economy. Telecommunications & Transportation, Mr Thomas Pang (right) at the Singapore International Energy Week 2016 leaders from Singapore and China gathered in Co-sponsored by Keppel Beijing to attend the Corporation, the forum is second annual China- organised by the Singapore Singapore Executive Forum Chamber of Commerce and Energy issues held on 21 October 2016. Industry in China and China’s Caixin Media. in focus Themed “Investing in the Changing Economy”, the The Keppel Group has forum provides a platform participated in, and As a key player in Singapore’s called on policymakers and for global investors and contributed to China’s growth energy sector, the Keppel industry players to generate entrepreneurs to discuss and development since the Group supported the solutions for a sustainable business opportunities and 1980s. Keppel has operations Singapore International future. investment trends in light in offshore and marine, Energy Week (SIEW) as a of the changing global property, infrastructure sponsor for the seventh Also speaking at the event economic landscape. and investments across consecutive year. was Mr Nicholas Lai, ED This year, topics covered 25 Chinese cities. Keppel (Gas-to-Power) of Keppel included China’s “One also leads the Singapore Held from 24 to 28 October Infrastructure, who shared Belt, One Road” initiative, consortiums in the China- 2016, this year’s theme, how the Keppel Group is the country’s financial Singapore Suzhou Industrial “New Energy Realities”, well placed to seize growth reform, as well as the Park and the Sino-Singapore focused on the challenges opportunities by providing impact of disruptive Tianjin Eco-City. keppelite posed and opportunities solutions for sustainable created by significant shifts in urbanisation. He said, the global energy landscape. “Through our innovative solutions in high quality In his opening remarks, infrastructure, energy and Guest-of-Honour and green buildings, the Keppel Minister for Trade and Group is poised to meet Industry (Industry) of growing urban demands Singapore, Mr S Iswaran, for clean and liveable cities, urged delegates to take effectively and sustainably.” a long-term view of the energy landscape even as Organised by the Energy they continue to keep a Market Authority of close watch on current Singapore, SIEW provides a market volatilities. He also platform for top policymakers emphasised the importance and energy practitioners in of fostering dialogue and Asia to discuss global energy building partnerships to issues, exchange views and respond nimbly to shifts in forge closer cooperation. Mr Lee Yi Shyan, Chairman of Business China, speaking at the China-Singapore Executive the energy industry, and keppelite Forum 2016, which was co-sponsored by Keppel Corporation

Keppelite I November 2016 20 Sustaining Growth

Safety, our collective responsibility Keppel’s stakeholders, including employees, contractors, subcontractors, partners and business associates, reaffirmed their collective commitment to uphold the Group’s core value of safety at the annual Keppel Group Safety Convention.

The 10th Keppel Group Safety Convention brought together over 900 Keppelites, contractors, subcontractors, partners and business associates to reaffirm their collective commitment to safety

“Keppel’s safety goals are Safety Convention held best achieved through a on 28 October 2016 at coordinated, integrated The Star Performing Arts approach, where business Centre, Singapore. units learn from one another, not just within Themed “Harnessing each vertical, but across Strengths towards HSE the Group. We must Excellence”, the convention continue to harness our brought together over 900 strengths, resources and Keppelites, contractors, expertise as OneKeppel subcontractors, partners and to bring us another step business associates – a record closer to Health, Safety attendance for the event – and Environment (HSE) to reaffirm their collective excellence.” commitment to safety.

This was one of the key Gracing the event as Learning more about this year’s winning safety innovation projects are (L-R): Dr Lee messages conveyed by Guest-of-Honour was Boon Yang, Chairman of Keppel Corporation; Mr Loh Chin Hua, CEO of Keppel Corporation; Mr Loh Chin Hua, CEO of Mr Sam Tan, Minister of Guest-of-Honour Mr Sam Tan, Minister of State, Prime Minister’s Office and Ministry of Manpower, Singapore; and Mr Tan Ek Kia, Chairman of Keppel Corporation’s Board Safety Keppel Corporation, during State, Prime Minister’s Committee the 10th Keppel Group Office and Ministry of

Keppelite I November 2016 Sustaining Growth 21

Manpower of Singapore, While recognising the Mr Loh also applauded to foster safe and healthy who said in his keynote myriad safety achievements, Keppelites who continue working environments, address, “I am heartened by milestones and efforts of to come up with innovative as well as the Keppel Keppel’s strong support of our the various Keppel business solutions to enhance Group Safety Photography national initiatives and efforts units over the past decade, safety at work. A total of Competition, for photos by allowing stakeholders Mr Loh emphasised that 53 teams participated in that captured this year’s to be regularly updated more must be done to raise this year’s safety innovation safety theme. The coveted on the latest best safety the bar, especially in light competition, up from 48 Chairman Safety Challenge practices and innovations. of the Group’s recent spike entries last year. Trophy was awarded to Your commitment to in Accident Severity Rate. Keppel FELS for its strong high standards of safety “There is much room for The convention recognised safety performance and in your yards, offices and improvement in our safety winners of the Keppel innovative safety measures. worksites in Singapore and efforts across the Group, and Group Safety Awards, which around the world is indeed we cannot continue business recognises Keppelites who This year’s convention commendable.” as usual,” he said. have gone the extra mile also saw the inclusion of a live sharing session by six employees from across the Group, who discussed on-stage how they actively make a difference at their respective work sites, as well as a safety game show hosted by Keppel Infrastructure’s Mr Paul Rodrigues, also chairman of the event’s organising committee.

In his closing remarks, Mr Tan Ek Kia, Chairman of Keppel Corporation’s Board Safety Committee, touched

Mr Chris Ong (right), MD of Keppel FELS, received the Chairman Safety Challenge Trophy on behalf of Keppel FELS from Dr Lee Boon Yang (left), on how safety contributes Chairman of Keppel Corporation significantly to sustainability in Keppel’s businesses.

“We therefore cannot overemphasise the importance of commitment and ownership of safe working practices. I can see among the management and staff strong desire, determination and commitment to improve

further,” he shared. keppelite

This year’s convention saw the inclusion of a live sharing session by six employees from across the Group Continues on page 22...

Keppelite I November 2016 22 Sustaining Growth

...continued from page 21.

2016 Safety Innovation Award Winners A total of 53 safety innovation teams submitted their safety innovation projects this year. Three platinum, five gold, 12 silver and 15 bronze awards were presented to project teams who developed innovative solutions to improve safety.

Project Name Business Unit Award Sea Water Intake Guide Online Cleaning Keppel Infrastructure Platinum Roll-Ex Keppel FELS Platinum Thruster Trolley Keppel Shipyard Platinum Multi-Purpose Lifter Keppel Infrastructure Gold Anti-Flooding Warning System Keppel FELS Gold ROE Underwater Viewer Keppel Shipyard Gold Good Catch Keppel Singmarine Gold B.O.B Keppel Telecommunications & Transportation Gold Safety Innovation Project 2016 Keppel Infrastructure Silver Incident Protection e-Lock Keppel Infrastructure Silver Embrace Technology to Enhance Safety & Keppel Land Silver Security at Workplace Installation of Safety Barrier in Refuse Keppel Land Silver Compactor Room The Eye of Tower Cranes II Keppel Land Silver Foldable Manhole Barrier Keppel FELS Silver Cold Work Alignment Jig Keppel FELS Silver No-NID Keppel Shipyard Silver Safe Manhole Protection Keppel Shipyard Silver Super Cradle Keppel Singmarine Silver Seamless Communicator Keppel Singmarine Silver Lock Stop Keppel Telecommunications & Transportation Silver Working Safely at the Sifting Ash Conveyor Keppel Infrastructure Bronze Safe Footing Keppel Infrastructure Bronze Adjustable Trellis Balcony Ladder Keppel Land Bronze Enhancement for Re-threading of Scaffold Coupler Keppel Land Bronze Wuxi Safety Railing Keppel Land Bronze Handy Bolt and Nut Tightener Keppel FELS Bronze Safety Through Laser Scanning Keppel FELS Bronze Flange Lifter Keppel Shipyard Bronze Chain Block Holder: Shaft Pulling Tool Keppel Shipyard Bronze New Grit Discharge Chute Keppel Shipyard Bronze Manhole Guardian Keppel Singmarine Bronze Smart Grip Keppel Singmarine Bronze K-truck Dashcam Keppel Telecommunications & Transportation Bronze Light Savior Keppel Telecommunications & Transportation Bronze Racking Eye Keppel Telecommunications & Transportation Bronze

Keppelite I November 2016 Sustaining Growth 23

Realisation of a vision

Keppel Land celebrated come in one-to four-bedroom iconic Reflections at Keppel Over 50% of the development the completion of Corals configurations ranging from Bay, we are confident is covered by lush greenery at Keppel Bay, the third 600 sf to 3,000 sf as well as that Corals at Keppel Bay and water features, including residential development to penthouse units spanning waterfront homes, with an expansive garden at premiere at Keppel Bay, on from 5,000 sf to 8,000 sf. a whole host of lifestyle its centre, surrounded by 31 October 2016. Each unit is designed to offerings, will be sought after facilities such as an Olympic- provide an excellent layout by discerning homeowners length swimming pool and Situated on the southern with spacious rooms and and collectors.” clubhouse with a landscaped coast of Singapore, Corals expansive views of the roof, rainwater filtration at Keppel Bay is Keppel Land waterfront, lush landscape, Residents can enjoy the and recycling system and world-renowned and the historic King’s ultimate smart-living as well as double-glazed architect Mr Daniel Dock situated alongside the experience through the glass panels. The waters Libeskind’s second development. fully-integrated Corals surrounding Corals at Keppel collaboration following the at Keppel Bay Habitap Bay are home to a thriving iconic Reflections at Keppel Mr Tan Swee Yiow, President smart home mobile kaleidoscope of coral reefs Bay. Corals and Reflections (Singapore) of Keppel application, in addition and marine life. at Keppel Bay are the only Land, said, “Keppel Land to a suite of homecare two residential developments is privileged to be able and lifestyle services via For its sustainable features, in Asia designed by to contribute to shaping the Laureate concierge Corals at Keppel Bay has Mr Libeskind. Singapore’s skyline with service, exclusive to achieved Singapore’s iconic residences and office Keppel Bay. Residents also Building and Construction Corals at Keppel Bay buildings. Our vision for receive a complimentary Authority Green Mark comprises 11 five-to-10- true waterfront living has 10-year membership and GoldPlus Award as well as storey buildings thoughtfully been realised with Corals at five-year subscription at the Landscape Excellence arranged in a necklace- Keppel Bay which features the precinct’s exclusive Assessment Framework like composition. Its 366 Mr Libeskind’s signature waterfront playground, Award by the National luxurious waterfront homes architecture. Following the Marina at Keppel Bay. Parks Board. keppelite

Corals at Keppel Bay, Keppel’s second collection of waterfront homes in collaboration with world-renowned master architect Mr Daniel Libeskind, is available for immediate occupation

Keppelite I November 2016 24 Special Focus

Distinguishing Keppel Fellows

1

2 3

1. Guest-of-Honour Mr Tharman Shanmugaratnam (second from left), Singapore’s Deputy Prime Minister and Coordinating Minister for Economic and Social Policies, together with Dr Lee Boon Yang (left), Chairman of Keppel Corporation, and Mr Loh Chin Hua (extreme right), CEO of Keppel Corporation launched Keppel Fellows; 2. (L-R) Mr Charles Foo, Head Secretariat, Keppel Technology Advisory Panel; Mr P P Nair, former Group Personnel Director/ED, Keppel Shipyard and former Board Director, Keppel Corporation; Mr Tong Chong Heong, former CEO of Keppel Offshore & Marine and former Board Director, Keppel Corporation; Mr Loh Wing Siew, former MD of Keppel Shipyard and former Senior ED of Keppel Corporation and Mr Loh Chin Hua; 3. Mrs Lim Hwee Hua, former minister in the Prime Minister’s Office and former Board Director, Keppel Corporation with Mr Goon Kok Loon, former Board Director, Keppel FELS

It was an evening of board members and selected it is today – a successful, experience and wisdom of recognising and celebrating retired members of the senior diversified global company the Keppel Fellows, so that the contributions of Keppel’s management team across deeply involved in the Keppel can continue to benefit tough men and women the Keppel Group who have provision of solutions for from your valuable ideas and of bold vision, as about contributed to the growth sustainable urbanisation. networks.” 80 distinguished guests of the company through the convened at the Corals at decades. “We hope that through this Dr Lee also thanked former Keppel Bay show gallery Keppel Fellows platform, you CEO of Keppel Corporation on Keppel Island for the In his welcome remarks at the will continue to strengthen Mr Choo Chiau Beng and launch of Keppel Fellows on launch, Chairman of Keppel those ties and the spirit of Consultant to Keppel 9 November 2016. Corporation Dr Lee Boon camaraderie that you had Corporation Ms Wang Yang, said, “The Keppel with your old colleagues at Look Fung for agreeing to Keppel Fellows was Fellows have all contributed Keppel. At the same time, steer Keppel Fellows as its established as a distinguished in many ways over the years we hope to be able to better first Chairperson and Vice platform to honour former to build Keppel into what engage and harness the Chairperson respectively.

Keppelite I November 2016 25

Distinguishing Keppel Fellows 4 5

6 7 8

9 10

4. (L-R) Mr Goh Boon Kiat, former ED of Keppel Singmarine and former Board Director, Keppel Telecommunications and Transportation; Mr Chow Yew Yuen, CEO of Keppel Offshore & Marine; Mr Ng Siong Tee, former Director & GM, Kapal Management; Mr Loh Wing Siew; Mr Boon Swan Foo, former Board Director, Keppel Offshore & Marine and Dr Lee Tsao Yuan, former Nominated Member of Parliament and former Board Director, Keppel Corporation; 5. Mr Wong Ngit Liong (left), member of the Research, Innovation and Enterprise Council under the Prime Minister’s Office and former Board Director of Keppel TatLee Bank and Dr Lee Boon Yang; 6. Mr Ch’ng Jit Koon (left), former Senior Minister of State, Ministry of Community Development and former Board Director, Keppel TatLee Finance with Mr Chan Soo Sen, former Minister of State, Ministry of Trade and Industry and former Director, Corporate Office, Keppel Corporation; 7. (L-R) Mr Tong Chong Heong, Mr Lim Chee Onn, former Executive Chairman of Keppel Corporation and former Chairman of Keppel Land with Mr Choo Chiau Beng, former CEO of Keppel Corporation and Chairperson of Keppel Fellows; 8. Mr Benedict Kwek, former MD and CEO of Keppel TatLee Bank with Ms Wang Look Fung, Consultant to Keppel Corporation, former Director of Group Corporate Affairs at Keppel Corporation and Vice Chairperson of Keppel Fellows; 9. (L-R) Mr Andrew Ang, Senior Judge, Supreme Court Singapore and former Board Director, Keppel Corporation; Mr Loh Chin Hua and Professor Cham Tao Soon, former member of the Council of Presidential Advisers and former Board Director, Keppel Corporation; 10. Mr Heng Chiang Meng (left), former Member of Parliament and former Board Director, Keppel Land with Mr Ang Wee Gee, CEO of Keppel Land

Guest-of-Honour, Deputy through periods of great He said, “I’m delighted help in growing that culture Prime Minister (DPM) and difficulty.” to be here and to join in that has allowed Keppel to Coordinating Minister the recognition of not only grow – to grow it beyond for Economic and Social DPM Tharman also urged what has been a very Keppel itself.” Policies, Mr Tharman Keppel Fellows to make the successful Singapore Shanmugaratnam, said most of the vibrant pool of company, but what has At the event, the newly in his address, “Keppel experience and talent within been a very interesting minted members of Keppel is synonymous with the institution to benefit not collection of individuals Fellows were each presented the Singapore story – its only Keppel, but also the developed over the with a special collar pin success, its energy and larger corporate sector in years through Keppel. emblazoned with the new

the way you have grown Singapore. I hope that you can also logo. keppelite

Keppelite I November 2016 26 Sustaining Growth

Towards a common goal

The business environment Ms Christina Tan, who is also received participation from and bonding as they is constantly evolving, MD for Alpha Investment over 100 staff from Keppel participated in a series of bringing about new growth Partners (Alpha). Ms Tan REIT Management, Alpha, activities around Singapore’s opportunities. We have to be challenged the team to think Keppel Infrastructure Fund business district and popular agile, sharpen our skills and out of the box and find Management and Keppel DC tourist spots. It was down to capabilities, and capitalise innovative ways to chart a REIT Management. Joining business on the second day on synergies as OneKeppel collective path towards the them were colleagues from as management discussed to seize these opportunities. future. Australia, China, Japan, Keppel Capital’s strategic Korea and Taiwan. roadmap and each business Reiterating this message in Themed “Revolutionary unit’s growth plans for 2017 her opening address at the Goals, Evolutionary Steps”, Day one started with an and beyond. inaugural Keppel Capital the two-day meeting on exciting ‘Amazing Race’ strategy meeting was CEO 3 and 4 November 2016 which saw teams strategising Ideas on how to further grow Keppel Capital and leverage the strengths of the Group were shared freely, from new business platforms to innovative products. It was evident that everyone is working towards achieving the company’s goal of being the best-in-class asset management business.

keppelite

Teams strategising as they map out the best route to win the Keppel Capital ‘Amazing Race’ Staying resilient

The Board and Management past year, and brainstormed strategically located assets, The Keppel Group’s core of Keppel REIT gathered and charted strategies going strong tenant base, as well values and operating for the company’s annual forward. as disciplined and prudent principles that have become business plan meeting at approach towards capital part of Keppel REIT’s DNA the Keppel Leadership During the meeting, the management. will continue to guide the Institute on 25 October Board and management Manager as it adapts to 2016. expressed their belief that, Dr Audrey Chin, Chairman the changing business despite the challenging of Keppel REIT Management, environment to capture Joined by Mr Loh Chin Hua, market conditions and also reiterated the need value and deliver sustainable

CEO of Keppel Corporation, slower economic growth, to stay agile and build returns to Unitholders. keppelite the board, management and the REIT would continue on core competencies to key executives reviewed the performing creditably enhance and sustain value REIT’s performance over the given its premium and for Unitholders.

Keppelite I November 2016 Sustaining Growth 27

Innovative edge

Senior management with Keppelites who received gold awards at the fourth Keppel Offshore & Marine Innovation Awards

Recognising that technology Keppel O&M participated so innovation becomes submersible DSS™ Series rigs and innovation are two this year, a 25% increase even more important. and N-Class jack-up rigs, as key drivers that keep it over last year. Thirty-six I encourage all Keppelites to well as Keppel Singmarine’s ahead of the competition, recipients walked away with think out of the box, study arctic icebreakers, were Keppel Offshore & Marine gold awards, which include the technologies we have recognised by the Institute (Keppel O&M) has constantly a cash prize for each team. developed and come up of Engineers Singapore as invested in R&D and with new applications and being among the top 50 encouraged its employees Addressing the winners systems.” engineering feats that have to come up with new and at the awards ceremony, contributed to Singapore’s impactful solutions to sustain Mr Loh Chin Hua, Chairman Mr Chow Yew Yuen, CEO nation building. its market leading position. of Keppel O&M and CEO of of Keppel O&M, added, “It Keppel Corporation, said, is through innovation that Keppel O&M Technology At the fourth Keppel O&M “Innovation has been a key we are able to differentiate Centre’s Azimuth Stern Innovation Awards held pillar of Keppel’s success and ourselves from our Drive tug design with on 27 October 2016, the even as we go through this competitors. All Keppelites a 65-tonne bollard pull company continued to difficult period, we must must embrace the strong capacity, which can run on recognise talented Keppelites continue to invest in R&D culture of innovation here both liquefied natural gas who have made an impact and reinvent our business at Keppel.” and diesel fuel, also received on the company and industry strategies. the Outstanding Maritime through their innovative Keppel O&M has been R&D and Technology Award solutions. “As we search for recognised for several at the biennial Singapore opportunities in new groundbreaking innovations International Maritime A total of 41 team across markets, we will have to this year. In July 2016, Awards in April 2016.

10 business units in re-purpose our technologies, Keppel FELS’ semi- keppelite

Keppelite I November 2016 28 Sustaining Growth

Building rapport, exchanging insights

Keppel continues to forge vessels for ship-owners, FLYING THE FLAG HIGH Singh, made his introductory strategic partnerships with to converting floating FOR SINGAPORE visit to the Doha North government and industry production storage and Singapore’s new Sewage Treatment Works leaders by sharing insights offloading vessels for oil Ambassador to the State (DNSTW) and Domestic and best practices. The companies. of Qatar, H.E. Jai Sohan Solid Waste Management company regularly hosts distinguished guests at its plants, facilities and businesses around the world.

FOSTERING COLLABORATION The Japanese Ambassador to Singapore, H.E. Kenji Shinoda, visited Keppel Offshore & Marine (Keppel O&M) on 17 November 2016 to explore further collaboration between Keppel and Japanese companies in providing offshore and marine solutions.

Japanese Ambassador H.E. Kenji Shinoda (fourth from left), penned his wish for greater collaboration in Keppel O&M’s guest book. He was H.E. Shinoda was hosted by hosted by Mr Loh Chin Hua (second from right), Chairman of Keppel O&M and CEO of Keppel Corporation, Mr Chris Ong (third from left), MD of Keppel FELS, Mr Chor How Jat (extreme right), MD of Keppel Shipyard, Mr Louis Chow (extreme left), ED (Commercial) of Keppel Shipyard, Mr Loh Chin Hua, Chairman and Mr Keith Teo (second from left), GM (Marketing) of Keppel FELS of Keppel O&M and CEO of Keppel Corporation. They were joined by the management of Keppel FELS, Keppel Shipyard and Keppel Singmarine.

H.E Shinoda penned in the guest book, “We will continue to work closely as we further promote our Singapore-Japan business partnership.”

Keppel’s services for Japanese customers range from building jackup rigs for drilling operators, repairing and upgrading tankers Singapore’s new Ambassador to the State of Qatar, Mr Jai Sohan Singh (centre, in white shirt), made his introductory visit to the Doha North and liquefied natural gas Sewage Treatment Works in October 2016

Keppelite I November 2016 Sustaining Growth 29

Centre (DSWMC) on 26 October 2016 and 2 November 2016, respectively.

H.E. Sohan was Singapore’s Ambassador to Germany from August 2012 to September 2016.

During his visit, H.E. Sohan was introduced to the management teams of the DNSTW and DSWMC, who conducted site tours for the Ambassador and briefed him on the plants’ operations and facilities.

“The Ambassador was particularly impressed by the flora and fauna we have Participants of the MPAM programme visited Marina at Keppel Bay to gain a better understanding of Keppel’s capabilities in developing world- class waterfront precincts cultivated in the Doha North Sewage Treatment Works and proud that Keppel is During the visit, the This batch of MPAM CEO of Sino-Singapore flying the flag high 22-man delegation was programme participants Tianjin Eco-City Investment for Singaporean briefed on the Group’s comprise mostly officials and Development Co., Ltd., companies in Qatar,” said businesses and ventures in from the Chinese central as well as senior management Mr Surenthiran Muniandy, China, and collaboration and provincial government from across the Group. GM (O&M) of the DNSTW. with Chinese partners. agencies, as well as senior They also toured Keppel executives of Chinese state- During the meeting, the ECAC STRENGTHENING CHINA Bay and learnt about the owned enterprises. delegation shared about CONNECTIONS transformation of the island the tax incentive scheme in A delegation from the from a shipyard into a Besides Marina at Keppel the Sino-Singapore Tianjin National Development world-class waterfront Bay, the group also visited Eco-City and discussed tax and Reform Commission precinct. Keppel Logistics’ plant administration matters with (NDRC) of China visited in Tuas. Keppel’s representatives. Keppel Corporation on Separately, on 4 November 25 October 2016, while 2016, participants of On 16 November 2016, an The delegation also visited they were in Singapore the Master in Public eight-member delegation several Keppel projects in for a two-week Urban Administration and led by Mr Zhang Erxiang, Singapore, such as Corals Governance Programme. Management (MPAM) Director of Finance Bureau at Keppel Bay and Highline programme, Lee Kuan Yew of the Sino-Singapore Tianjin Residences’ show gallery, as Mr Ho Tong Yen, GM, Group School of Public Policy, Eco-City Administrative well as Keppel Datahub and Corporate Communications National University of Committee (ECAC), visited Keppel Seghers Ulu Pandan of Keppel Corporation Singapore, had a dialogue Keppel Corporation during NEWater Plant. keppelite hosted the delegation, which session with Mr Ho to learn their five-day study visit was led by Mr Liu Jianxing, about the Group’s businesses, to Singapore. Deputy Director-General, corporate governance and International Cooperation talent management, as well The delegation was warmly Centre, NDRC. as strategy in China. received by Mr Tay Lim Heng,

Keppelite I November 2016 30 Sustaining Growth

Seeds of sustainability

Who would have dreamed sludge treatment facility to treat sludge generated. remarked, “This project it would be possible to build serve the entire country, and In addition, the plant has embodies the bold vision a nature sanctuary in the subsequently operate and a state-of-the-art sludge of the Qatari government middle of a desert? maintain this facility for 10 thermal drying facility, which to overcome environmental years. As part of the project, is the first of its kind in the constraints through the One company has turned Keppel was to develop a region. use of modern technology, this dream into reality in a landscaped green buffer creating more liveable and country where it hardly ever zone. The DNSTW has the capacity sustainable spaces. Keppel rains and temperatures soar to treat up to an average flow is happy to have played a above 40°C. Today, Qatar is closer to of 245,000m3 of wastewater significant role in supporting realising its vision. per day and is the largest Qatar’s vision for sustainable The first seed was planted wastewater treatment, water development.” as early as 2007 when, as Spanning 4km by 4km, reuse and sludge treatment part of Qatar’s vision for the DNSTW is the first facility in Qatar. The incoming Some 45km north of Doha sustainable development, wastewater treatment facility wastewater is treated to and near Umm Salal Ali, Keppel was awarded in Qatar to use advanced international standards. the green buffer zone the Doha North Sewage membrane and ultra-violet spans over 8.3 sq km, and Treatment Works (DNSTW) treatment technologies to Currently, the reclaimed is envisioned as a public project, amounting to reclaim high-quality water water from the facility is recreational park, with two about QR3.6 billion for non-potable purposes, being put to good use – it is ponds and 50 picnic areas. (approximately S$1.5 billion) employ a comprehensive irrigating what is envisaged About 95,000 trees are from Ashghal, the Public odour control system to as the biggest man-made being planted to create this Works Authority. minimise the impact on the park in the Gulf Cooperation nature sanctuary. The trees surrounding environment, Council member states. are native or near native Keppel was to design and be equipped with hardwood and are selected and build a wastewater modern sludge treatment Dr Ong Tiong Guan, CEO for their resistance to the treatment, water reuse and processes to receive and of Keppel Infrastructure, harsh climate.

Recycled water from the Doha North Sewage Treatment Works has transformed the surrounding landscape into a lush oasis in the middle of the desert

Keppelite I November 2016 Sustaining Growth 31

The Doha North Sewage Treatment Works is the first wastewater treatment facility in Qatar to feature membrane technology

The treated non-potable water from the facility not only irrigates the park, but also maintains two man-made lagoons

Saw Yoong Chiat, Construction Manager for DNSTW who has been there since 2009, shared, “Having witnessed the development of this project, from when it was just a construction site to what it is now – a modern wastewater and sludge treatment facility that is sustaining a lush man- made park, I am really happy to be part of this.”

Rajendran Balasubramanian, Senior Project Manager Migratory birds finding relief in the facility’s lagoon and another Keppelite who witnessed the gradual greening of the landscape, the trees or near the lagoons. The DNSTW is Keppel which is the first-of-its-kind added, “Even as the buffer Hopefully, when the entire Seghers’ second landmark integrated waste sorting and zone is about half done, we buffer zone is completed, project in Qatar. Keppel also recycling, waste treatment are already welcoming our we will see families enjoying designed, built and handed and green energy generation first visitors. We see many a respite from the hustle and over the Domestic Solid facility in the Middle East. migratory birds perched on bustle of Doha city.” Waste Management Centre, keppelite

Keppelite I November 2016 32 Sustaining Growth

Leading the way The Keppel Group is committed to operate in a sustainable manner and uphold execution excellence. Various business units across the Group were recognised for their efforts in the months of October and November.

ADVANCING CORPORATE sustainable Singapore by SUSTAINABILITY being environmentally Keppel Corporation conscious and adopting was named a winner more responsible modes of in the Sustainable operation to reduce their Business Category (Large environmental footprint. Organisations) at the Singapore Apex Corporate PROVIDING SOLUTIONS Sustainability Awards held Keppel Logistics’ on 26 October 2016. commitment to operational and business excellence Organised by Global was recognised when it was Compact Network named Singapore Domestic Singapore, the Awards Logistics Service Provider of are the most prestigious the Year by Frost & Sullivan form of recognition for at an awards ceremony on corporate sustainability 14 October 2016. efforts in Singapore. Award recipients are assessed based This is the fifth time in seven Mr Ho Tong Yen (centre), GM of Group Corporate Communications, Keppel Corporation and Chairperson of the Keppel Group Sustainability Working Committee, received the Singapore on their alignment with years that Keppel Logistics Apex Corporate Sustainability Award on behalf of the Company from Mr Masagos Zulkifli Environmental, Social and has been conferred the (right), Minister for the Environment and Water Resources of Singapore. The presentation was Governance principles. award. Mr Desmond Gay, witnessed by Mr Ho Meng Kit (left), CEO of Singapore Business Federation CEO of Keppel Logistics, Mr Ho Tong Yen, GM, Group received the award on behalf Corporate Communications of the company. of Keppel Corporation and Chairperson of the Keppel Mr Zainal Izham, Industry Group Sustainability Working Analyst (Transport & Committee, received the Logistics), Frost & Sullivan award on behalf of the said, “Keppel Logistics Company from Guest-of- has efficiently provided Honour and Minister for one-stop solutions for their the Environment and Water customers, ranging from Resources of Singapore, home delivery to inventory Mr Masagos Zulkifli. management services. Keppel Logistics represents In his opening address, the true definition of a Mr Masagos Zulkifli dependable service provider highlighted the important with the commitment

role that businesses to be the best for their (From L-R) Mr Darren Lee, GM, Regional Supply Chain & Business Development, Keppel play in building a more customers.” Logistics, and Mr Desmond Gay, CEO of Keppel Logistics, received the Singapore Domestic Logistics Service Provider of the Year award from Ms Cecilia Chang, Senior Vice President, Frost & Sullivan

Keppelite I November 2016 Sustaining Growth 33

INNOVATING FOR commissioning projects, 2-Star Green Building Design The award recognises the CUSTOMERS the vessel also has a transit Label by the China Green building owners, Keppel REIT DLV 2000, a high speed of 14 knots and a Building Council. Management and Mirvac specification derrick lay vessel 43,000 sf open deck to Group’s efforts in building an developed and constructed transport and assemble large The centre which has a total environmentally sustainable by Keppel Singmarine, has subsea structures, enabling floor area of 28,000 sm and energy-efficient office clinched Marine Log’s Best it to undertake efficient including 13,000 sm of tower. Ships of 2016 award for its standalone operations in warehouse space, is the first innovative design and state- remote areas safely. warehouse in China to be The 33-storey David of-the-art features. awarded the accolade for Malcolm Justice Centre DLV 2000 is also designed both its ambient and cold incorporates the latest in Built to Keppel’s proprietary to allow a deepwater room facilities. The award green technology such as design, DLV 2000 is now 500-tonne flexlay system recognises buildings that a gas-fired trigeneration serving McDermott as the to be incorporated at a have effectively incorporated system, the first of its kind in flagship vessel in its fleet future date in addition to green features into their Perth’s CBD, which provides of global offshore pipelay its existing S-lay functions, designs. an environmentally friendly and construction vessels. making the vessel a highly method of generating The vessel is able to achieve versatile asset which can be Over in Perth, Australia, electricity, heat and cooling. efficient pipelay rates for further customised to meet Keppel REIT’s David Malcom long trunklines and can customers’ evolving needs. Justice Centre was conferred In recognition of its energy operate in severe weather the prestigious Western performance, the building conditions while maintaining GREENING BUILDINGS Australia (WA) Commercial also received a 5-Star Green significant thrust output and Keppel Telecommunications Property of the Year Award Star – Office Design v3 power distribution. & Transportation’s (KTT) for innovation at the Certified Rating from the integrated logistics WA Property Council of Green Building Council of

With a holding capacity distribution centre in the Australia’s 2016 Property Australia in 2014. keppelite of up to 400 personnel to Sino-Singapore Tianjin Eco- Awards held on 4 November facilitate large hook-up and City has been conferred the 2016.

DLV 2000, a high specification derrick lay vessel developed and built by Keppel Singmarine, Keppel Telecommunications & Transportation’s integrated logistics distribution centre in the has won Marine Log’s Best Ships of 2016 award for its innovative design and state-of-the-art Sino-Singapore Tianjin Eco-City has been awarded the coveted 2-Star Green Building Design features Label

Keppelite I November 2016 34 Sustaining Growth

Fueling LNG developments

Since securing Singapore’s fuel, which will come into liquefied natural gas (LNG) force in 2020. bunkering license in a joint venture with Shell in January Mr Michael Chia, MD 2016, Keppel Offshore & (Marine & Technology) of Marine’s (Keppel O&M) Gas Keppel O&M, explained, Technology Development “Keppel and Shell can (GTD) continues to make combine our resources inroads in LNG-related and expertise as leading developments. global shipbuilder and energy supplier, and work Keppel O&M’s equal joint together in collaboration Celebrating the partnership of FueLNG are (L-R) Ms Goh Swee Chen, Chairperson of Shell venture company with Shell, with stakeholders such as Singapore; Mr Michael Chia, MD (Marine and Technology), Keppel O&M; and Mr Lauran FueLNG, is preparing to begin shipping companies, terminal Wetemans, GM, Downstream LNG, Shell International LNG bunkering in 2017, operators, local governments starting with truck-to-ship and regulators, to meet their Keppel also participated at the value chain discussed bunkering. The company needs in engine retrofitting the inaugural LNG Bunkering LNG bunkering demand is poised to benefit from or setting up coastal LNG Roundtable held in October and supply, regulatory and

the global 0.5% cap on storage infrastructure, 2016 in Singapore, where infrastructural issues. keppelite sulphur content of marine amongst others.” key organisations across

Scenic Riviera in Sheshan

Keppel Land launched the Speaking at the launch, increasingly placing more station, about 20 km from first phase of Sheshan Riviera, Mr Samuel Ng, City Head emphasis on the pursuit the Shanghai Hongqiao its latest villa development for Shanghai, Keppel Land of luxurious yet healthy International Airport and a in Shanghai, China, on China, said, “Many high lifestyles. At Sheshan Riviera, 45-minute drive from the 25 October 2016. net worth individuals are homeowners can enjoy the city centre. convenience of urban living and yet be one with nature, Homeowners can enjoy away from the hustle and picturesque views of bustle of everyday life.” Sheshan Hill with the development overlooking Spanning over 170,000 sm, the Sheshan National Forest Sheshan Riviera offers 217 Park, as well as a host landed homes ranging from of leisure amenities and 271 sm to 375 sm. The facilities including a development is located clubhouse and a community within Shanghai’s luxury commercial centre that is villa enclave and is close to integrated with the lush

Keppel Land has launched the first phase of Sheshan Riviera, its latest villa development in the Metro Line 9 Sheshan greenery. keppelite Shanghai, China

Keppelite I November 2016 Sustaining Growth 35

Strong safety culture

Keppel BrasFELS held the 15th edition of its Week for the Prevention of Accident at the Workplace in November 2016. Themed “Safety starts with me”, the annual event aims to educate employees on their collective responsibility to ensure a safe working environment. During the Week for the Prevention of Accident at the Workplace 2016, children of BrasFELS employees were encouraged to participate in a drawing competition to nurture a strong safety culture among employees’ families During the week, employees attended various talks and workshops covering topics such as safety training with rotating portable equipment, working at heights, and occupational hearing loss, amongst others.

In addition, children of BrasFELS employees were invited to participate in a drawing competition, held in conjunction with Children’s Day on 12 October 2016, to nurture a strong safety culture among employees’ families. A total of 48 drawings were submitted across three age categories. BrasFELS celebrated one million safe manhours on their Floating Production Storage and Offloading project, Cidade de Campos dos Goytacazes MV29, together with representatives from Karoon Gas, Petrobras and MODEC “The drawing competition was an excellent initiative to manhours on their latest Production Systems also held of our partnership with educate our young on the Floating Production Storage a ceremony to present tokens MODEC. Our four previous importance of safety,” said and Offloading (FPSO) of appreciation to three projects were delivered Solange Chagas Moreira, collaboration, Cidade de employees in recognition safely, on time and to high Quality Control Auxiliary at Campos dos Goytacazes of their exceptional quality standards. BrasFELS, and mother of MV29. contributions. João Pedro, one of the “We are committed to winners of the drawing The project teams celebrated Mr Luiz Caetano, Operations ensure strong execution competition. the safety milestone together Director of BrasFELS, said, of our projects and will with Petrobras and Karoon “Cidade de Campos dos continue to build upon SAFETY MILESTONE Gas during the latter’s visit Goytacazes MV29 is our fifth operational and safety BrasFELS and MODEC have to the shipyard. BrasFELS FPSO project with MODEC capabilities to achieve this achieved one million safe and MODEC Offshore companies. We are proud goal.” keppelite

Keppelite I November 2016 36 Sustaining Growth

Distinguished service

Mr Allen Ang, GM, Across his 22-year career, Project Management and Mr Ang has led several Sustainable Design at Keppel initiatives related to building Land, has been conferred innovation and sustainability the Ministry of National for various residential and Development (MND) commercial projects. Medallion in recognition of his services and contributions The annual MND Huddle to Singapore’s green building brings together partners and sector. volunteers who have served on MND boards, committees Mr Ang received the and advisory panels, as Medallion from Mr Lawrence well as volunteer leaders Wong, Minister for National who lead programmes for Development and Second fellow volunteers in their

Minister for Finance of communities. keppelite Singapore, at the MND For his efforts and contributions to Singapore’s green building sector, Mr Allen Ang (right), Huddle on 10 November GM, Project Management and Sustainable Design at Keppel Land, was conferred the Ministry of National Development Medallion by Mr Lawrence Wong (left), Minister for National 2016. Development and Second Minister for Finance of Singapore

Award-winning golf course

Ria Bintan Golf Club (Ria 2016, alongside acclaimed Organised by Asian Golf was recently reopened after Bintan) has been named championship courses Magazine, the Asian Golf being refurbished, and the one of the Top 3 Best Pan Pacific Nirwana Bali Awards is the premier annual 9-hole Forest Course. Golf Courses in Indonesia Resort and Royale Jakarta poll of golfing facilities in the at the Asian Golf Awards Golf Club. region. This year, winners One of Asia’s best-established were decided by a panel of and leading courses, judges and the total votes Ria Bintan has consistently cast online over a duration been named one of the best of three months. golf courses in Asia and Indonesia. Set amidst pristine white beaches, clear emerald It was the first in Indonesia waters and lush tropical to achieve the highly- forests, Ria Bintan is a acclaimed Audubon 27-hole championship International Classic course designed by Sanctuary Program celebrated golf legend Gary certification for its leadership, Player. The club boasts two commitment and high award-winning courses, the standards of environmental Ria Bintan Golf Club has been named one of the Top 3 Best Golf Courses in Indonesia at the Asian Golf Awards 2016 18-hole Ocean Course which management. keppelite

Keppelite I November 2016 Sustaining Growth 37

Spurring Innovations

Energy-efficient blowers

Proper ventilation is vital for forced draft ventilation Singapore on 4 October sustained energy efficiency workers performing work blower. Powered by a 7.5kW 2016. The annual awards improvement industry-wide. in confined spaces. This is standard efficiency motor, seek to promote a culture of keppelite where ventilation blowers the blower functions by play a key role in ensuring a evacuating harmful gases continuous supply of fresh trapped within the working air. There are 300 blowers space, while fresh air is of different sizes deployed continually pumped into around the clock in Keppel the chamber to maintain Shipyard and finding a way acceptable oxygen levels for to be more energy-efficient work to be carried out. will achieve significant cost and energy savings. In tweaking the blower’s design, the project team A project team led by Keppel used a more energy-efficient Shipyard and comprising 3.7kW motor that allowed members from Ngee them to maintain the air Ann Polytechnic’s Centre change rate at 16,800 m3 of Innovation for Marine per hour. It is also a more Offshore Technology and eco-friendly design, lowering Safenergy, a software the footprint of each development vendor, set blower by 6.22 tonnes of about exploring just how carbon dioxide equivalent Mr Boo Chin Tuan (right), GM, Operations Excellence and Talent Management, Keppel they could achieve such and 14,400kWh of energy Shipyard, receiving the Energy Efficiency National Partnership award for Best Practices (Honourable Mention) from Mr Masagos Zulkifli (left), Minister for the Environment and a result by tweaking the per year. This results in an Water Resources, Singapore existing blower design. estimated cost savings of about $2,600 for each Team member Andrew unit per year. On top of Chua, an engineer from these savings, space is also Keppel Shipyard, shared the better utilised due to the team’s approach to seeking new blowers’ stackable a more efficient design, design. “Energy efficiency starts with a big heart for the Earth In recognition of its efforts and a keen intuitive eye for in conserving energy, Keppel inefficiency.” Shipyard received the Energy Efficiency National The previous version Partnership award for Best deployed at Keppel Shipyard Practices (Honourable was a 20 year old design Mention) from the National Project team members worked closely to find a solution to make ventilation blowers used in known as the steel axial Environment Agency of Keppel Shipyard more energy-efficient

Keppelite I November 2016 38 Empowering Lives Lives

United as OneKeppel

Management and Keppelites epitomising the OneKeppel spirit at the 2016 Keppel Games

After months of intensive GAINING A HEAD START training and spirited In the first event of the day, competition involving close athletes put their enviable to 1,000 Keppelites, the endurance and stamina 2016 Keppel Games drew levels to the test in the Men’s, to an adrenaline-filled close Women’s and Veteran’s with the last three sporting Open categories of the long events held during the distance run. Grand Finale at Ngee Ann Polytechnic sports complex Runners in the Men’s Open on 20 November 2016. category had to navigate a challenging 6.7km route Despite tough competition with hilly terrain, while from Caspian and Pacific, female runners and veterans defending champions had to contend with the Atlantic emerged victorious shorter, but faster-paced once more, clinching the 3km route. Overall Challenge Trophy by winning a grand total of Atlantic eventually emerged

29 gold medals as well as victorious in both the Keppelites putting their enviable endurance and stamina levels on show in the long the Grand Finale Challenge 3km Women’s Open and distance run Trophy. Veteran’s Open categories,

Keppelite I November 2016 Empowering Lives 39

MEDAL Gold Silver Bronze Gold Silver Bronze Gold Silver Bronze TALLY 29 19 17 16 27 24 12 11 17 Team Atlantic Team Caspian Team Pacific

Challenge Overall challenge Badminton Netball Trophies/ Grand finale Basketball Table tennis Events Flag design Darts Won 9-ball pool Golf Bowling Soccer Cyber games Dragonboat International chess Sepak takraw Tennis Volleyball

Team Pacific claimed the at the 200m mark, Pacific gold medal in the 6km Men’s supporters could feel their Open, while Team Caspian hearts pulsating when took home the gold medal. the team’s second runner, Jeffrey Wong from Keppel SPLASHING TO VICTORY Logistics, managed to close Old rivalries flared again at the gap with lightning speed, the swimming championship enabling their anchor runner, during the Grand Finale. Hoo Sze Yoong from M1, Traditional favourites to pull away from the pack Atlantic maintained their in the final leg and wrest dominance, achieving victory from both Atlantic a podium finish in all the and Caspian. events and clinching all three podium spots in the Women’s Recounting his experience, 50m Freestyle. Jeffrey shared, “As our team came from behind, my sole Dark horse Pacific managed Keppelites took to the pool for a splashing race in the swimming championship focus was on overtaking the a few upsets, stunning opponents once I received Atlantic with Sherman Tan SPRINT FINISH Rounding up the segment the baton. Of course, the from Keppel Infrastructure Deafening cheers emanated was the Men’s 4 X 100m loud cheers from the Pacific coming in first in the Men’s from the stadium as passions Relay event. Spectators supporters provided me with 100m Breaststroke in a time ran high throughout the watched the race with bated that extra burst of energy!” of 1m 20.41sec. track segment of the Grand breath as the swift baton Finale. With months of hard interchanges and constant While this unexpected Caspian was not to be training under their belts, overtaking made it difficult turn of events had Pacific outdone, coming in second Keppelites demonstrated to anticipate the final supporters going wild with in the Men’s 100m Freestyle steely grit and determination outcome. exuberance, it was eventually and third in the Men’s 100m as they raced to the finish Caspian that accumulated Breaststroke and Women’s line in a series of track With Team Pacific 1 50m Breaststroke. events. trailing behind the others Continues on page 40...

Keppelite I November 2016 40 Empowering Lives

...continued from page 39.

the most number of gold Benn Seah, Chairman of medals in the track segment, the Keppel Games 2016 coming in first for the Men’s organising committee, said, 100 m, Men’s 4 X 400 m and “Thanks to the dedication of Veterans’ 4 X 100 m events. the committee, participants and supporters, the Games UNITED AS ONE closed off with a successful Despite the fierce Finale. We are very heartened competition, Keppelites have to see participants and demonstrated camaraderie supporters from different and sportsmanship in teams cheering each other abundance throughout the on with respect and grace, Games by helping each fully epitomising the spirit other on and off the field, of OneKeppel. We look cheering each other on the forward to seeing everyone sidelines, and congratulating at the next Keppel Games!”

opposing teams on their keppelite good performance.

Participants sprinting to the finish line in the track events as the 2016 Keppel Games drew to a close

Powering to victory

The Keppelite Recreation Corporate Open category, Can Do! spirit of each and join the KRC Dragons can Club (KRC) Dragons took against formidable teams every team member allowed contact Sebastian Lim at to the water for the 34th from DBS Bank, OCBC Bank us to achieve this remarkable [email protected], Singapore River Regatta held and Hewlett-Packard. result.” or Nicholas Chua at on 5 and 6 November 2016. [email protected].

The KRC Dragons also put up Keppelites interested to keppelite Jointly organised by the a good fight in the National Singapore Dragon Boat Corporate Women and Association, People’s Mixed categories, achieving Association and Civil first runner-up positions in Service Club, the annual both races. 200m dragon boat race is Singapore’s biggest and Sebastian Lim, Team Captain longest-running water of KRC Dragons and sport event. Graduate Engineer at Keppel FELS, shared, “It is an honour After months of intensive to lead this team of extremely training, the KRC Dragons dedicated and passionate were rewarded when they Keppelite paddlers. While emerged as champions in the competition was The KRC Dragons came in tops in the 34th Singapore River Regatta National Corporate Open the hotly contested National extremely tough, the category

Keppelite I November 2016 Empowering Lives 41

Active and engaged

With people as the 3Q 2016 financial results. GHR of Keppel Corporation, lifestyles, Keppel Corporation cornerstone of the company, Mr Loh highlighted that also shared the results has been holding its Monthly Keppel is committed to despite strong headwinds, of the Global Employee Outdoor Cohesion Activities engage its employees and Keppel continues to respond Engagement Pulse Survey since February 2016. promote strong bonds with agility and resilience to conducted in August 2016. amongst staff to foster a the challenging environment. The results provided an In November 2016, Mr Loh productive workforce. insight into employees’ gamely joined Keppelites On how Keppel is investing engagement levels in areas for the monthly activity. STAYING ABREAST OF prudently in expanding such as communication, Keppelites enjoyed an DEVELOPMENTS capabilities and exploring innovation and collaboration. invigorating walk along Employees from Keppel new markets, Mr Loh cited the Sentosa Boardwalk to Corporation gathered at the the example of Keppel Nicholas Choo, Assistant GM Universal Studios Singapore, Keppel Leadership Institute Offshore & Marine’s (Keppel of Legal and Compliance while some challenged on 31 October 2016 to gain O&M) recent moves to at Keppel O&M, also took themselves with a 6km run insights into the Group’s strengthen its portfolio of the opportunity to update to Henderson Waves at performance, compliance liquefied natural gas (LNG)- staff on Keppel’s regulatory Telok Blangah. framework as well as human related businesses, such as compliance framework resource initiatives. securing contracts to build where he reiterated the Catherine Ho, Senior its first two dual-fuel diesel importance of developing a Manager, GHR of Keppel Organised by Keppel LNG harbour tugs, and its strong compliance culture. Corporation, enthused, Corporation’s Group partnership with Shell to “This monthly activity is a Human Resources (GHR) jointly explore opportunities BONDING THROUGH great way to get acquainted department, the session saw to cater to increasing EXERCISE with colleagues from other Keppel Corporation CEO demand for LNG as a fuel. To cultivate inter-department departments while enjoying Mr Loh Chin Hua provide cohesion and encourage some fresh air and flexing an overview of the Group’s Mr Robert Chong, Director, Keppelites to adopt active those muscles!” keppelite

Mr Loh Chin Hua (in white shirt), CEO of Keppel Corporation, joined staff at the company’s Monthly Outdoor Cohesion Activity

Keppelite I November 2016 42 Empowering Lives

Nurturing human capital

A strong learning culture and Assistant Technical develop their potential, graduation plaques from is a critical corporate asset. Associate Schemes. Thirty- regardless of their starting Mr Simon Lee, President At Keppel, employees are two employees also attained point. Beyond paper of Keppel AmFELS, at a encouraged to upskill and their Higher Nitec, Diplomas, qualifications, skills mastery ceremony on 22 September grow to reach their full Bachelor’s Degrees and is very important and I urge 2016. The two-year potential. Master’s Degrees under all employees to strive for programme allows selected the company’s Employee excellence through lifelong graduate engineers from On 12 October 2016, Development and scholarship learning.” universities in Brownsville, Keppel Offshore & Marine schemes. Texas, to learn from celebrated the graduation Separately, four engineers experienced tradesmen and of 12 Keppelites who had Mr Chow Yew Yuen, CEO of from Keppel AmFELS’ production personnel by completed their Nitec and Keppel Offshore & Marine, inaugural Operational participating in construction

Higher Nitec education under shared, “All Keppelites Leadership Training and repair work. keppelite Keppel’s Technical Associate are given opportunities to Programme received their

Senior management from Keppel Offshore & Marine celebrated the academic milestones of Keppelites at a Staff Graduation Ceremony Fostering a compliance-centric culture

Keppel Corporation’s Group operationalise regulatory Mr Kevin Chng, GM, GRC The workshops came on the Risk and Compliance (GRC) compliance across the of Keppel Corporation, back of recent collaborative department organised a Group and equip over said, “As we continuously efforts between GRC and series of workshops 130 attendees with the strive to enhance our business units to conduct on compliance for key knowledge and tools to regulatory compliance trainings on anti-bribery, management from across train their own teams, framework to ensure Whistle-Blower Protection the Group in November both local and overseas. conformance globally, Policy and Personal Data 2016. Topics covered included these workshops help Protection Policy for Keppel anti-bribery, personal data to reinforce common Nantong Heavy Industries, Held at the Keppel protection, competition principles and provide Keppel Nantong Shipyard Leadership Institute, the law, insider trading and guidance in our response and Keppel Land China’s workshops’ aim was to anti-money laundering. to real world challenges.” headquarters in Shanghai.

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Keppelite I November 2016 Empowering Lives 43

Keppelites Around the World

Overseas immersion

“Mina-san, Issho ni include discipline, efficiency, immerse themselves in not easy because one has to ganbarimasho”, which and a strong commitment to the experience, Mr Wong learn three separate scripts means “let’s strive together” deliver high quality products acknowledged the (hiragana, katakana and in Japanese, aptly sums on time. uniqueness of Japan’s kanji), grammar, as well as up the working culture in language and culture makes slang. After four years of Japan, where the emphasis The 52-year-old Singaporean it a particularly challenging lessons, Mr Wong is now in many organisations is on has been President of RSJ for destination for overseas able to converse fluently teamwork, cohesion and the past six years. Located postings. in Japanese but humbly collaboration. in Kitakyushu, Fukuoka, the adds that “you never stop company specialises in the “In Japan, the language learning”. According to Mr Wong fabrication of heavy steel barrier is still the main hurdle Chun Yu, President of structures and is a leader in for foreigners. You may Outside of work, Mr Wong Regency Steel Japan (RSJ), a the fabrication of rack and not be able to invest the enjoys the occasional subsidiary of Keppel Offshore chord fabrication for jackup necessary time and effort indulgence in outdoor & Marine, other common rigs for the offshore market. to master the language, activities such as hiking and characteristics of workers in especially if you have to hit climbing mountains. He the Land of the Rising Sun While advising Keppelites the ground running,” he said, shares that he conquered that are worth admiring who head abroad to fully explaining that Japanese is Japan’s highest peak, the 3,776m high Mount Fuji, in 2013.

As with all Singaporeans, he also finds joy in seeking out good local food. “If you have the opportunity to work overseas, you must embrace the culture of your host country and make an effort to understand the local mores,” he said.

“A big part of the experience is trying the local cuisine. I love the taste of Fukuoka’s Ichiran ramen, which some regard as the best ramen around… and of course, not forgetting the fresh sushi and sashimi that is synonymous

with Japan!” keppelite

During his free time, Mr Wong (right) enjoys exploring different parts of Japan with his wife, Karen (left)

Keppelite I November 2016 44 Nurturing Communities Communities

Planting seeds of life

BrasFELS’ Environment and as experience the joy of Integrated Management seeing their plants grow Systems department over time. organised an environmental workshop for students Since 2015, volunteers from the Cornelis Verolme from BrasFELS have been Municipal School on engaging the students 20 October 2016 in from Cornelis Verolme celebration of Brazil’s Municipal School National Tree Day. through the shipyard’s Ocean Financial Centre was the backdrop for Catalonia’s 229-man human tower Teach-It-Forward on 19 October 2016 Aiming to inculcate the value Programme, where they of personal responsibility conduct Portuguese and for the environment, the mathematics classes workshop gave students the for students in need of opportunity to sow their own academic assistance. The Adding a dash of plants. This allows them to school is located near the appreciate the challenges of shipyard in Angra dos Reis, vibrancy the planting process, as well Brazil. keppelite

Ocean Financial Centre, with Ms Ng Hsueh Ling, CEO of its strategic location in the Keppel REIT Management, heart of Singapore’s CBD, said, “We are glad for the modern glass façade and opportunity to host the distinctive green wall, sets an castell’s performance at impressive stage for local as Ocean Financial Centre, well as international events. which adds to the colour and vibrancy of the business On 19 October 2016, and financial district. It is the building formed the a celebration of culture, backdrop for Catalonia’s strength and performing 229-man human tower – or arts.” castell – during the opening performance of Catalan Separately, from 29 October Week on 19 October 2016. to 5 November 2016, the The human tower is a Catalan façade of Ocean Financial tradition that first started in Centre was lit up in purple 1712 and has been declared in a show of support for an Intangible World Heritage The Purple Parade 2016. by UNESCO. This is the first The Purple Parade supports time that Singapore has inclusion and celebrates hosted Catalonia’s human the abilities of people with

Employees from BrasFELS and students from the Cornelis Verolme Municipal School tower. special needs. keppelite commemorated the National Tree Day in Brazil by planting seeds for the future

Keppelite I November 2016 Nurturing Communities 45

A taste of home

Over 3,500 Singaporeans The event was graced by living, working and Singapore’s Deputy Prime studying in San Francisco, Minister and Coordinating the United States (US), got Minister for National a taste of home at Security, Mr Teo Chee Singapore Day, held in Hean; Senior Minister of September 2016. State for the PMO, Foreign Affairs and Transport, Organised by the Overseas Ms Josephine Teo; as well as Singaporean Unit of the Member of Parliament and Prime Minister’s Office Deputy Chairperson of the (PMO), Singapore Day is Government Parliamentary an annual event aimed Committee for Home Affairs at keeping overseas and Law, Mr Edwin Tong. Singaporeans connected to home. This was the first Keppel Corporation was time it was held on the a corporate partner for

West Coast of the US. Singapore Day. keppelite

Singapore’s Deputy Prime Minister and Coordinating Minister for National Security, Mr Teo Chee Hean (left) presenting Keppel Corporation represented by Director of Group Human Resources, Mr Robert Chong, with a token in appreciation of Keppel’s support of Singapore Day

Wheels of hope

Keppel Land organised a Vietnam’s culture while volunteer trip to the Binh doing my best to teach the Chanh district in Ho Chi village children.” Minh City (HCMC), Vietnam from 9 to 12 November 2016 WOW is sponsored by in support of the Words Keppel Land and managed on Wheels (WOW) mobile in partnership with the library project. Singapore International Foundation and HCMC’s During the trip, volunteers General Sciences Library. To engaged children in the date, 11 volunteer trips have rural villages through reading been organised since the and games. Ng Xiao Tong, programme was launched in Hull Engineer (Engineering) May 2014. Keppel Land organised a volunteer trip to the Binh Chanh district in Ho Chi Minh City, at Keppel Singmarine, said, Vietnam, in support of the Words on Wheels mobile library project “This trip was very fulfilling Aimed at promoting a as it allowed me to be a culture of reading and self- aged between six and 15 materials and multimedia teacher and student at the learning, the mobile library in the Binh Chanh district tools. keppelite same time – I learnt about provides over 3,000 children with access to educational

Keppelite I November 2016 46 Nurturing Communities

Running for a cause

Despite dark clouds looming 18 November 2016 in 2016, committing $30,000 Minister of State for Finance overhead, 125 Keppelites support of a charitable cause. to the event. The annual and Law of Singapore, from across the Group charity fundraiser, which saw Ms Indranee Rajah. thronged The Float@ The Keppel Group was a more than 5,000 participants Marina Bay and Singapore’s Silver Bull Sponsor of the in the 5km mass run, was Into its 13th year, the CBD on the afternoon of SGX Bull Charge Charity Run flagged off by Senior Singapore Exchange Ltd (SGX) Bull Charge rallies the financial community and its listed companies to make a meaningful difference to the lives of underprivileged children and families, persons with disabilities and the elderly. Its four adopted beneficiaries are AWWA Ltd, Autism Association (Singapore), Fei Yue Community Services and Shared Services for Charities.

keppelite One hundred and twenty-five Keppelites from across the Group participated in the SGX Bull Charge Charity Run on 18 November 2016

On a roll

Keppel Care Foundation against each other in friendly (KCF), the philanthropic competition. arm of the Keppel Group, supported the Special The Keppel teams put up a Olympics Singapore good fight, making it into the Charity Bowl 2016 held top 10 in the Teams category. at the Temasek Club on Two veteran Keppel bowlers 5 November 2016. This is also emerged Champion and the third consecutive year first runner-up in the Ladies that KCF has supported the category. annual charity fundraiser. Special Olympics Singapore Six Keppelites as well as 66 aims to promote and provide participants from various year-round sports training other organisations joined and athletic competition in Keppelites were on a roll at the Special Olympics Singapore Charity Bowl 2016 hands with athletes from a variety of Olympic-type Special Olympics Singapore sports for children and adults to pit their bowling skills with intellectual disabilities.

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Keppelite I November 2016 Nurturing Communities 47

Brightening lives

Keppel Volunteers supported Centre, shared, “It was a nationwide walk that aims to with practical life skills to a number of worthwhile fun and enriching session. raise funds for out-of-school enhance their employability causes in the month of I was heartened to see the youth in the Philippines. so that they can grow to October as it strives to make students beaming with pride become contributing a positive impact on the at their unique art pieces.” Mr Richard Cabral, President members of society.” community. of Alay Lakad Association SUPPORTING YOUTH of Bauan (ALAB), said, “We Mr Wong Jen Ming, President GREEN FINGERS Twenty-six volunteers from are appreciative of Keppel’s of Keppel Batangas Shipyard, Keppel Volunteers organised Keppel Batangas Shipyard continuous support in added, “In Bauan, the a terrarium workshop for joined hands on 22 October providing technical training percentage of out-of-school 35 students from Student 2016 to participate in to Bauan’s out-of-school youth is 9.9%, whereas the Care Services (Hougang) on the annual Alay Lakad, a youth, equipping them Philippines national average 27 October 2016, where is 3.5%. This makes this 20 Keppelites bonded with programme all the more the students while helping integral to building a them create their own better future for the personalised mini gardens. community.”

Ms Mok Rui Wen, Manager To date, a total of 25 ALAB of Student Care Services scholars have graduated (Hougang), said, “The from the Shielded Metal students thoroughly enjoyed Arch Welding and Structural the workshop and many of Fitting training courses at the them happily hugged their Keppel Batangas Training terrariums home!” Centre.

Kelvin Xu, Assistant Research MARINE CONSERVATION

Engineer at Keppel Offshore In the Philippines, Keppel Volunteers took a morning walk through Bauan to raise funds for As part of Keppel’s & Marine Technology the town’s out-of-school youth environmental conservation efforts, 30 Keppel Volunteers from Keppel FELS participated in an Intertidal Watch survey workshop led by the Singapore’s National Parks Board (NParks) on 30 October 2016.

The workshop aims to equip volunteers keen on participating in NParks’ Intertidal Watch surveys with the necessary skills to collect quantitative data to aid in the science-based management of Singapore’s Keppel Volunteers and youth from Student Care Services (Hougang) were all smiles as they created colourful terrariums and fond memories coastal areas. keppelite together

Keppelite I November 2016 BackPage 48

Positive response for Vietnam homes

Keppel Land has achieved Palm City, comprising 135 strong take-up for its two landed homes ranging from waterfront residential terrace to semi-detached developments, Palm City and houses, was 100% booked The View at Riviera Point, in in a private preview held over Ho Chi Minh City (HCMC), one weekend in July 2016. Vietnam. Following its sell-out success, Keppel Land and its partners Mr Linson Lim, President launched the 816-unit Palm (Vietnam) of Keppel Land, Heights to prospective said, “The positive take- homebuyers in October up at Palm City and The 2016. As of 3 November View, with about 800 units 2016, about 570 homes in booked across the two Palm Heights have been projects in the second half booked at an average of 2016, reflects confidence price of VND 32.5 million in Keppel Land’s homes in (approximately S$1,950) Vietnam. The developments’ psm. value propositions, such as prime location, wide array Separately in District 7, of amenities and thoughtful Keppel Land and joint venture innovations, are strong partner Tan Truong launched draws to homebuyers.” The View, Phase 1B of the Riviera Point development. Palm City is a 30-ha integrated About a third of the 345 waterfront township jointly launched units at The View developed by Keppel at Riviera Point have been Land and its Vietnamese booked at an average price of partners, Tien Phuoc and VND 37 million (approximately

Tran Thai. The project is S$2,200) psm. The project About 570 units of Keppel Land’s Palm Heights condominium located within the Palm City strategically located by the comprises a total of integrated waterfront township in Ho Chi Minh City, Vietnam, have been sold Giong Ong To and Muong 518 units. Kinh Rivers in District 2, and is a 15-minute drive from Riviera Point is the tallest partner opened the new be HCMC’s new business the CBD. To be developed condominium in District 7, link bridge over the Ca Cam district. The development will in phases, Palm City will and has a 500m frontage River, providing residents of comprise premium residential comprise about 5,000 of the Ca Cam River. When Riviera Point with convenient apartments, office and retail apartments, as well as retail, fully completed, it will offer access to the myriad properties as well as an commercial, educational and 2,400 units to be developed amenities in the nearby Phu 86-storey integrated mixed- medical facilities when fully in several phases. Phase 1A, My Hung township. use tower complex. Phase 1 completed. The township comprising 549 units, was of the integrated waterfront will also house The American completed in 2014. As at Keppel Land is also development comprising School’s new expanded end-October 2016, about developing Empire City at a more than 500 premium campus. 95% of the development prime 14.6-ha waterfront site high-rise apartments, is has been sold. In September in the upcoming Thu Thiem expected to be launched

Palm Residence, Phase 1 of 2016, Keppel Land and its New Urban Area, slated to later this year. keppelite Printed on recycled paper Printed on recycled

Keppelite I November 2016