AUGUST 2013 www.kepcorp.com/ekeppelite Corporate excellence 8 Safety honours 10 The Games begin 34 Shaping the future MCI (P) 073/01/2013 10 36 42 Contents SUSTAINING GROWTH EMPOWERING LIVES Solutions for Mexico 4 The Games begin 34 Global service 7 Growing with Singapore 36 Corporate excellence 8 Count on learning 37 Safety honours 10 Inspiring education Successful conversions 12 Engaging talent 38 Sharing on sailing Perfect 10 13 Keppelites Abroad Chinese links 14 Stepping out for growth 39 Eco-City progressing on track 15 NURTURING COMMUNITIES Patron of the arts 40 Keeping ahead in finance 16 Garden melodies Clear on transparency 18 Race for a cause 41 Strong start Keeping the rivers flowing CELEBrating 45 YEARS Shaping the future – 45 years and beyond 19 Jars of joy 42 New tenant at 8 Chifley Square 28 Keppel Volunteers Warming hearts 43 Starting service BACK PAGE Brazil updates 29 Fifth semi for Floatel 44 Championing sustainability 30 A safe township 32 Distinguished visitors 33 Cover image: Keppel committed $12 million to the National Art Gallery in support of its centre for art education. Witnessed by President Tony Tan (centre), Keppel Corporation’s CEO Mr Choo Chiau Beng (far left) and Chairman Dr Lee Boon Yang (second from left) presented the cheque to the National Art Gallery, represented by Mr Hsieh Fu Hua (second from right), Chairman of the National Art Gallery and its CEO, Ms Chong Siak Ching (far right), at Keppel’s 45th anniversary gala dinner. 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 Elizabeth Widjaja Editorial Committee Ang Lai Lee, Carol Huang, Chan Suan Sim, Cheryl Goh, Chew Chong Peng, Clement Lim, Dale Lai, Diana Chan, Donald Sng, Eileen Tan, Eva Ho, Frances Teh, Grace Chia, Hayley Teo, Hoo Yao Lin, Ivana Chua, Lee Chin Siang, Lee Wan Jun, Liang Hui Hui, Lim Xuehui, Lin Wenjian, Priscilla Chong, Razali Maulod, Roy Tan, Serena Toh, Sue Ann Huang, Teri Liew, Tracy Pham, Vett Ramos, Woon Pek Yong, Yolanda Guo, Yu Zehan Keppelite I August 2013 CO REG NO: 196800351N Editorial Our future starts today Keppel’s growth journey has historically imagined that a Singaporean company could been intertwined with the meandering fortunes design and build, in the last 10 years, half of all of Singapore. As a small island nation, Singapore the new jack-up rigs in the world? has had to navigate deftly global tides which it has no control over, and punch far above its weight in The new generation of Keppelites is building on order to thrive. Likewise, Keppel, which started as success and an unstoppable Can Do! culture in a small shiprepair yard, has had to eke out a niche the organisation. Our new leaders, having been in the global arena to become a multi-national carefully identified and groomed, stand ready conglomerate it is today. to take on the baton and sprint towards the next lap. Rounding up a well-received National Day Rally on 18 August 2013, Prime Minister (PM) Lee Hsien Even as we make strides into the future, we Loong shared with Singaporeans grand plans recognise that we are an integral part of our on how our cityscape will continue its dramatic community and must remain vested in its transformation: space will be freed up in the south well-being and sustainability. for a Waterfront City; in the east by the moving of the Paya Lebar Airbase and further expansion PM Lee spoke of significant policy shifts in of Changi airport to ballast Singapore’s position healthcare, education and housing towards a more as an air hub. inclusive society, even as the values of self reliance and meritocracy remain at the core. These are ambitious plans. But as PM Lee puts it, they reflect our fundamental mindset and spirit – On a similar note, while Keppel is providing and which is to be confident and to aim high. These growing solutions to sustainable urbanisation and are long term plans. They build on the hard work future, we continue to care for and nurture the of our forefathers and will challenge our leaders communities wherever we operate. to rally citizens into the future. The future is a shared one – with our Keppelites as At Keppel, we stand at a similar chapter in our well as with the community-at-large. We are not story. We owe our present to the tough men of the averse to challenges but we will continue to focus past who marched with bold visions and had the on realising our aspirations. dare to blaze a trail where there was none. And we are ready, because at Keppel, the future We had survived many ups and downs, made always starts today. difficult decisions and ventured beyond Singapore’s shores. Our achievements today in the face of overwhelming challenges speak volumes of our people, past and present. Who would have Keppelite I August 2013 4 Sustaining Growth Growth Solutions for Mexico A s M e x i c o s e e k s t o significantly increase its production of oil and gas, Keppel FELS has been at the forefront in providing drilling solutions through its jackup rigs. It recently secured its 12th order for Mexico since 2010 and delivered its third jackup since 2012. The yard also celebrated milestones for four Mexican rigs recently, marking the good progress made on the projects. NEW ORDER On 2 August 2013, Keppel FELS secured a contract to build a KFELS B Class jackup rig for US$206 million from Parden Holding, a company based in Uruguay. Scheduled for delivery in 4Q 2015, the jackup rig is intended for operations in offshore Mexico. It will be built to Keppel’s award- winning KFELS B Class design and customised to Parden Holding’s requirements. This contract brings the total number of KFELS B Class jackup rigs ordered for the Mexican market since 2010 to 12. It is also the 66th KFELS B Class jackup rig ordered since 2000. When completed, it will operate in water depths of up to 400 feet and drill to depths of up to 30,000 feet and include accommodation LA SANTA MARIA is the first of two KFELS B Class jackup rigs Keppel FELS is delivering to Mexican customer CP LATINA and the third of twelve for up to 150 persons. to be delivered for the Mexican market since 2012 Keppelite I August 2013 Sustaining Growth 5 FIRST DELIVERY FOR CP is building for CP LATINA. third such rig Keppel FELS portfolio, the acquisition of LATINA The second rig is scheduled has delivered to Mexican two such rigs is a strong base On the same day, Keppel FELS to be delivered in 4Q 2013. customers since 2012. With for us to establish a foothold also delivered a KFELS B Class another nine on order, we in the Mexican offshore jackup rig, to Constructora Mr Wong Kok Seng, are well placed to be the market. We are confident y Perforadora LATINA (CP MD (Offshore) of Keppel leading provider of offshore that the second rig Keppel LATINA), a private Mexican Offshore & Marine and MD drilling solutions for the is building for us will be company in the energy of Keppel FELS, said, “This Mexican market.” delivered just as efficiently, sector. on-time and safe delivery enabling us to meet the is a demonstration of the Mr Santiago del Valle Toca, demands of the market.” The rig was named LA SANTA win-win partnership we Chairman of CP LATINA, MARIA at a ceremony in have developed with our added, “We chose the KFELS Keppel FELS recently delivered Keppel FELS. Delivered on new customer CP LATINA. B Class for its excellent track two similar rigs to Mexican time and with a perfect safety We are glad that they have record, strong capabilities customer Oro Negro while record, it will be chartered to chosen the KFELS B Class as and cost-efficiencies. We sister yard, Keppel AmFELS in PEMEX, Mexico’s national oil their first two jackup rigs. were also looking for a rig Brownsville, Texas, delivered company, for deployment in The premier rig of its class, that could be delivered to a jackup rig to Perforadora offshore Mexico. the KFELS B Class has a our timeline and this early Central in April 2013 with proven track record in the delivery has shown that another due for delivery in LA SANTA MARIA is the first Gulf of Mexico. Keppel FELS is the right 1Q 2014. of two high-specification partner for us. As we look to jackup rigs that Keppel FELS “LA SANTA MARIA is the expand our drilling services Continues on page 6... The board and management of Keppel Offshore & Marine and CP LATINA celebrate the naming of LA SANTA MARIA, in the presence of Lady Sponsor Mrs Rosario Toca de Del Valle (second row, centre) Keppelite I August 2013 6 Sustaining Growth ...continued from page 5. MILESTONE steel ceremony, reflecting from PEMEX and Keppel Mr Ting Shing Mau, Project CELEBrations the excellent progress of FELS led by Mr Antonio Manager, Keppel FELS. Deepening the partnership the project. Celebrating the Vargas Cardenas, Project keppelite between Keppel FELS and milestone were the teams Manager of PEMEX and its Mexican customers, the yard marked milestone ceremonies of four Mexican rigs. Grupo R’s first three jackup rigs – Cantarell I, Cantarell II and Cantarell III – held their strike steel ceremonies at the same time on 1 July 2013.