MARCH 2006 Eppel
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MARCH 2006 eppel www.kepcorp.com/ekeppelite Keppel Group Newsletter Keppelite First WTE plant in Jiangyin 6 Keppel wins more jackup orders 8 Alpha exceeds fund target 36 Entertainment capital at Caesars Singapore MITA(P) NO.059/11/2004 Keppelite I March 2006 March 2006 1 3/31/06, 3:32 PM 6 7 10 Contents BUSINESS Keppel shines at Singapore Corporate Awards 4 Focus on human capital 26 GlobalSantaFe orders ultra-deepwater drilling rig 5 Going the extra mile with Singapore Petroleum First waste-to-energy plant in Jiangyin 6 Excellence award for Keppel FELS 27 Another successful repair for ENSCO Keppel yards pool resources to offer fast track 7 upgrading COVER STORY Entertainment capital at Caesars Singapore 18 Keppel wins more jackup orders 8 to draw tourists Keppel Land despatches documents on 10 TEAM K-REIT Asia to shareholders Staging class acts 28 More FPSO contracts for Keppel Shipyard 11 A helping hand to the Clippers 29 The next lap for P-52 12 KRC in efforts to promote health 30 Strengthening ties with Qatar 13 Ultimate rigs The Libeskind signature at Keppel Bay 14 Appreciating long-serving staff 31 Bourbon AHTS delivered Committed to the local community Indonesia’s best golf course in Ria Bintan 15 Welcoming new Keppelites 32 Four in a row Kepture! for the Arts Friendship that spans 20 years 16 Keppel O&M holds inaugural corporate orientation 33 Tackling the bird flu Delivering global solutions 17 Keppel FELS Brasil achieves double certification PEOPLE Keppelites Abroad Keeping a promise sound 22 What’s brewing in Belgium? 34 Keppel Land joins Singapore Compact 24 COMMUNITY Keppel Volunteers Thai Chee Ken steps down Equipping volunteers to make the difference 35 Visitors from Norway 25 BACK PAGE China yard gears up for more work Alpha raises $720 million exceeding fund target 36 eppel 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 Wang Look Fung Editor Teo Chang Ching Editorial Committee Andrea Lee, Ang Lai Lee, Clara Ko, Diana Chan, Fatima Lay, Felicia Lee, Grace Chia, Hong Tin Wei, Ivana Chua, Karin Lam, Kelvin Ng, Lee Yin Chiin, Low Hooi Hoon, Lynette Goh, Mohd Nor Nordin, Nicole Tan, Phang Weng Onn, Romell Song, Sarah Seah, Serena Toh, Teri Liew, Woon Pek Yong, Wong Mei Lin, Yang Sook Chin Keppelite I March 2006 CO REG NO: 196800351N March 2006 2 3/31/06, 3:32 PM Editorial Orchestrating excellence Music prodigy Lidia Baich’s outstanding Setting the stage for the pursuit of excellence, performance at the Keppel-sponsored Singapore through our vast platter of Group-led initiatives, is Symphony Orchestra concert this month, was a not the entire deal. marvel for many. Commitment and creative energies flow in both Trained by her concertmaster grandfather at the directions between management and staff, age of four, and now protégé to world-renowned creating a hive of ideas that yields synergistic Maestro Lorin Maazel, Lidia’s music career and benefits for the entire organisation. prospects have been closely guided by master mentors, and look set to scale greater heights. That is the true artistry of Keppel’s approach towards cultivating talent – senior management For me, it was indeed a glittering display of talent, proactively provides effective platforms for but more than that – I was inspired by the talent individual self-discovery. As our people explore, cultivation. discover and realise their true potentials, they come to embrace the key values of progress, dedication At Keppel, we too believe in mentorship, and passion espoused by the Company. harnessing talent and breeding leaders in their fields of expertise. This is our way in Keppel – we help our people bring out their very best. With a global footprint spanning 30 countries now, we need to be able to deploy good people and With tireless drive, creativity and pursuit towards tap their diverse strengths, skills and expertise to lifelong learning, every Keppelite contributes in his sharpen Keppel’s competitive edge in markets or her own capacity to powering up our engine. where we operate. Indeed, our people, from senior management to Talent management and succession planning employees on the ground, are the very lifeblood ensure we groom and retain the best individuals of our business. to step up to greater roles and responsibilities, and fulfill key leadership positions and functions. Our best talents grow to become good leaders; and great leadership will steer Keppel towards As such, we are tenacious in our efforts to achieving our business objectives – that of driving strengthen the quality of our human resource base growth, increasing value – as we pursue excellence across the Group. in all our conduct. Being a conglomerate fortunately means that opportunities for talent nurturance and exposure are aplenty in the Group, through job rotations, internships and overseas postings. Our businesses provide many platforms for excellence but it truly has to begin with the very individual. Keppelite I March 2006 March 2006 3 3/31/06, 3:33 PM 4 Business Keppel shines at Singapore Corporate Awards At the inaugural Singapore Having been named the Best Corporate Awards (SCA) Annual Report 15 times in presentation ceremony the last 30 years of the held at the Raffles City former Annual Report Award Convention Centre on competition, and bagged the 7 March 2006, Keppel Land Grand Award eight times, an and Keppel Corporation award which is presented to emerged the Gold winner of the company whose annual the Best Annual Report report wins the best award Award (ARA), and the Silver for three consecutive years, winner of the Best Investor Keppel Land continues to Relations Award (IRA) place great emphasis respectively, in the category on upholding corporate of listed firms with a market integrity and accountability capitalisation of $500 million to stakeholders. or more. “For us, it is not just The ARA recognises about winning awards and Keppel Land bags Best Annual Report Award at the inaugural Singapore Corporate Awards companies which have accolades. Keppel Land has demonstrated excellence always placed emphasis on in financial reporting corporate disclosure and “It is also a stewardship through round after arduous presentation and a wider transparency. report, and a document of rounds of checking, vetting scope of disclosures beyond record of our company’s and rewriting, to piece the minimum level of “The annual report is an achievements and activities,” together a winning annual regulatory requirements; important communication said Mr Choo Chin Teck, report. while the IRA honours tool we use to share strategic Keppel Land’s Director of companies who have thrusts and plans for further Corporate Services, who The SCA honours the showed quality disclosure, growth with investors, received the award on behalf commitment of listed corporate transparency and customers, employees and of the Company from Mr J Y companies and individuals to fairness in disclosure. other stakeholders. Pillay, Chairman of the the highest levels of Singapore Exchange. corporate governance and disclosure standards, and is There is of course, a lot of organised by The Business hard work done behind the Times in collaboration with scenes. UBS and supported by the Singapore Exchange. Bringing it together are the investor relations and group Apart from ARA and IRA, corporate communications the organisers also confer teams who package the the Best Managed Board information to ensure Awards, as well as the Chief consistency of message, tone Financial Officer of the Year It’s teamwork for Keppel Land’s award-winning annual report and positioning, going Award. keppelite Keppelite I March 2006 March 2006 4 3/31/06, 3:33 PM Business 5 GlobalSantaFe orders ultra-deepwater drilling rig Keppel FELS has secured a extremely well in the North contract with GlobalSantaFe Sea, Eastern Canada and Corporation (GSF) to build an South America. ultra-deepwater drilling rig for US$270 million. “I am happy that we are now working on our first Under the contract semi newbuild project agreement, GSF will supply together, and I am confident the drilling and sub-sea that the highly efficient equipment while Keppel DSS-51 rig will meet GSF’s FELS provides the design, charter commitment on engineering and time and within budget.” construction of the hull as well as the accommodation Commenting on the demand quarters for 180 men and for deepwater mobile drilling marine equipment. rigs, Mr Choo said, “The fundamentals for deepwater The rig, to be named the GSF exploration and production Development Driller III, is are strong with consensus scheduled for delivery in the amongst operators, drillers first quarter of 2009. and service providers that the market for exploration and GSF has chosen to build the production of hydrocarbons state-of-the-art will be sustained over the Keppel FELS will build for GlobalSantaFe an ultra-deepwater semisubmersible rig designed by semisubmersible (semi) to next few years.” Keppel’s Deepwater Technology Group (DTG) and the Marine Structure Consultants (MSC). the proprietary design, DSS- This DSS-51 is an enhancement of the successful DSS-20 rig, Maersk Explorer (above), built by Keppel FELS 51, jointly designed and According to ODS- developed by Keppel’s Petrodata’s 12-monthly Deepwater Technology rolling forecast between working again with Keppel The DSS-51 rig is Group (DTG) and Marine February 2006 and January FELS on our newbuild semi. maintenance-friendly with Structure Consultants (MSC). 2007, the demand for Keppel FELS has a track excellent safety features well semisubmersibles is expected record of well designed and suited for both exploration Mr Choo Chiau Beng, to rise from 141 to 167 units built rigs that have been and development drilling as Chairman and CEO of while the marketed supply delivered on schedule.