October 2010 eppel www.kepcorp.com/ekeppelite

Keppel Group Newsletter Keppelite

Posting record nine months 4

A Viking ready for action 18

Keppel Games 44

SeamlessSeamless integrationintegration

MICA(P) NO. 169/01/2010 30 32

44

Contents

SUSTAINING GROWTH Business forums 38 Posting record profits 4 Insights into waste treatment 39 Fortifying collective strengths 7 Excellence in corporate governance Harnessing core competencies 10 Double bill at Lloyd’s List Awards 40 Positioning for growth 12 Leg doctors Expansion of Keppel Merlimau Cogen 13 New benchmark to luxury living 41 Keppel Land and K-REIT swap prime assets 14 Golden formula 42 Strengthening focus on China 15 Securing rig refurbishment contracts 16 Treat among friends 43 Further foray into Chengdu 17 EMPOWERING LIVES Fair Games 44 A Viking ready for action 18 Keppelites Abroad Enhancing bench strength 20 Brazil for all ages 46 Mission Peregrino accomplished 21 Grooming leaders for the next wave 48 Tianjin Eco-City draws more strategic partners 22 Connecting the dots 49 Building a replicable and scalable Eco-City 25 Growing in solidarity 50 Special Focus Walking up the fun 51 Seamless integration 28 NURTURING COMMUNITIES Specialised partner 30 Pounding the road for charity 52 Alpha invests in Korean prime office 31 Sharing charity honours 53 Hosting global dialogues 32 Four times the challenge Double strikes 34 Wheels for causes 54 Launch of Casa Villa homes 35 Keppel Volunteers Strengthening ties with Latin America 36 Colouring the lives of children 55 Safety onboard 37 BACK PAGE Keppel Seghers secures $341 million contract 56 New CFO for K-REIT Asia in the UK

Cover image: All smiles – Brazil’s President HE Luiz Inácio Lula da Silva (second from right), Mr Choo Chiau Beng, CEO of Keppel Corporation (right) and Mr Tong Chong Heong, CEO of Keppel Offshore & Marine (second from left) celebrating the successful completion of FPSO P-57 at the BrasFELS yard. 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 Wong Chai Yueh

Editorial Committee Andrea Lee, Ang Lai Lee, Catherine Tan, Chan Suan Sim, Cheryl Tang, Christie Lai, Chua Ying Ying, Diana Chan, Donald Sng, Elizabeth Widjaja, Eva Ho, Frances Teh, Geraldine Lai, Grace Chia , Hoo Yao Lin, Ivana Chua, Leanne Sim, Lee Wan Jun, Lim Kah Ai, Lynette Chong, Lynette Goh, Mak Chui Ling, Mohamed Yusof Mohamed, Raymond Chao, Roy Tan, Say Huan Yuan, Serena Toh, Teri Liew, Woon Pek Yong, Vett Ramos, Yolanda Guo Ying

Keppelite I October 2010 CO REG NO: 196800351N Editorial

Game for the challenge

Team Singapore athletes have just returned can. At the same time, we do not forget to have from the 19th Commonwealth Games with their fun and make friends from across the Group. haul of medals. Their outstanding achievements are an inspiration to young talents in Singapore. One of the Games’ key goals is to help imbue a common set of values and beliefs in the younger Here in Keppel, the drumbeats for our very own set of Keppelites. As they forge the company into house tradition – the Keppel Games – have just the future, they would perpetuate the Keppel begun. This year marks the seventh year of the culture and Can Do! Spirit. much anticipated annual affair. By the end of the Games, we would celebrate Through the years, the Keppel Games have the successful completion of weeks of rigorous successfully rallied the Group and individuals planning by the organisers, as well as arduous together through competitive sports. In fact, training and friendly competition by the players. the Games’ closing event in the last few years has developed into an iconic fund-raising effort. Although only the best wins, everyone triumphs. Keppelites even rally their families and friends from outside the Group to participate and do something For whether you were an organiser, a leader, a worthwhile for the less fortunate. team player or even a supporter, you would have witnessed the discipline, ability and will to fight of More importantly, the Keppel Games have brought Keppelites – that same fighting spirit that will prove Keppelites, young and old, from across different decisive in competition, at work or at play. units and departments together. Chipping in with our diverse strengths and skills, we have shown Indeed, in the competitive business arena and that the Keppel team spirit prevails. amid global economic uncertainties, we will need such strong men and women with the grit, morale The spirit behind the Games resonates with the and discipline to run the extra mile. values of Keppel. With properties, infrastructure projects, yards and For me, this is the essence of the Games – offices in more than 30 countries around the world, individuals with different abilities stepping forward the complex challenges of our diverse and global to contribute their strengths, and in the process, businesses demand nothing less than committed realise they can overcome challenges with passion, Keppelites who are game for the challenge. team work and shared commitment.

What matters most is that we get engaged, make a commitment to do our best, and give wherever we

Keppelite I October 2010 4 Sustaining Growth Growth

Posting record profits

Group net profit surpassed NET PROFIT BY SEGMENTS the billion dollar level for the first nine months of 2010, to S$m 9M 2010 % 9M 2009 % Change reach $1,016 million. This Offshore & Marine 694 68 609 66 14 represented a 10% growth Infrastructure 54 5 81 9 (33) over the corresponding period in the previous year. Property 253 25 133 14 90 EPS grew at the same rate Investments 15 2 99 11 (85) to 63.5 cents. Annualised Total 1,016 100 922 100 10 ROE was 21.7%. EVA of $747 million was $32 million above that of the same period last year.

For the third quarter, Group revenue of $2,450 million was 19% below that of the same quarter in 2009. This was mainly due to lower revenue from Offshore & Marine and Infrastructure Divisions.

Despite the lower revenue, the Group achieved a net profit of $346 million for the quarter, representing an 8% increase over the corresponding quarter in the prior year. Higher profit from Offshore & Marine and Property Divisions were partly offset by lower contribution from Infrastructure Division.

REVENUE AND PROFITS Group revenue of $7,339 million for the nine months to date was 20% lower than that of the same period in the previous year. Revenue from Offshore & Marine Division decreased by $2,120 million or 33% to $4,381 million due to the lower volume of work. The Property Division bolstered the Group’s performance by posting a 51% increase in pre-tax profit as compared to the previous year

Keppelite I October 2010 Sustaining Growth 5

The Division completed to $76 million as a result of and delivered eight rigs, lower contribution from the 14 specialised vessels, four EPC contracts in Qatar, partly FPSO conversions/upgrades offset by better performance and several rig upgrade/ from the cogen power plant repair contracts. in Singapore.

Revenue from Infrastructure Property Division recorded Division of $1,771 million profit of $465 million, was maintained at the same an increase of 51% over level of the prior year. Higher the preceding year. This revenue generated from was mainly attributable to the co-generation power higher contribution from plant in Singapore was several residential projects offset by lower revenue from in Singapore, China and Engineering, Procurement Vietnam, and share of the and Construction (EPC) associated companies which contracts in Qatar. are developing Marina Bay Suites in Singapore. Revenue from Property Division of $1,179 million Profit from Investments was 30% above the previous was lower as the previous year. The increase was mainly year included contribution attributable to the sale of from Singapore Petroleum units in Caribbean at Keppel Company (SPC), which Bay and progressive revenue was disposed in June recognition from Reflections 2009. Exceptional gains of at Keppel Bay. Rental income $422 million in the preceding from investment properties year comprised principally To meet the increasing demand for clean energy, expansion of the Keppel Merlimau Co-generation Plant will commence with completion expected in 2013 improved because of the profit from the disposal acquisitions of an Australian of SPC, partially offset investment building in by impairment of non- new orders to date. The regulatory regime will be March 2010 and additional performing assets. net orderbook stands at positive for rig builders who six strata floors of Prudential $4.1 billion with deliveries possess technologically Tower in November 2009. After taking into account into 2013. The ban on advanced proprietary designs. income tax expenses and deepwater drilling in the With our focus on innovation At the pre-tax level, Group non-controlling interests, US Gulf of Mexico has been and safety, the Group is in a profit of $1,444 million net profit attributable recently lifted, seven weeks good position to participate was 7% higher than that to shareholders was ahead of schedule. While in the improvement of this of the corresponding $1,016 million. Offshore & the lifting of the drilling ban segment. period in 2009. Earnings Marine remained the largest may not necessarily induce from Offshore & Marine contributor to net profit a full revitalisation of the The Infrastructure Division Division increased by 8% to with 68%, followed by offshore drilling segment, it recently secured an EPC $882 million. This was due to Property Division with 25% signifies a step towards the contract for the second phase improved margins driven by and Infrastructure Division normalisation of deepwater of the Greater Manchester cost efficiencies and higher with 5%. drilling activities in the Gulf Energy-From-Waste (EFW) productivity. region. project in the United PROSPECTS Kingdom. By harnessing the Profit from Infrastructure Offshore & Marine Division The more stringent offshore Division decreased by 33% secured $2 billion of drilling and workplace safety Continues on page 6...

Keppelite I October 2010 6 Sustaining Growth

...continues from page 5.

The successful 12 deliveries made by the Offshore & Marine Division in three months is further testament to its people’s commitment to quality and on schedule project execution

resources and synergising the Singapore private home in the region, residential third stake in MBFC Phase 1 efforts from the existing prices and sales volume are property sales have been to K-REIT Asia and acquire first phase of the project, we expected to remain steady encouraging in China, Keppel Towers and GE Tower expect to be able to deliver for the rest of the year. Vietnam and Indonesia. We from K-REIT Asia. This deal greater value. Although buying sentiment is have established Keppel Land will generate greater returns expected to remain cautious China Limited to sharpen our for unitholders of K-REIT Robust economic growth after the cooling measures focus on opportunities in Asia. in Singapore continued to announced in August, there China. sustain demand for electricity is still demand for homes While economic prospects since the beginning of this in good locations or with With healthy leasing activities have improved, the pace year. To meet the increasing compelling value offerings. on the back of improved of recovery remains uneven demand for clean energy, business confidence, the across the regions. Amidst this we will be commencing our We will time our launch of Marina Bay Financial Centre environment, the Group will expansion of the Keppel more units in our thematic (MBFC) and Ocean Financial work to fortify our collective Merlimau Co-generation residential projects such Centre projects have achieved strengths and capabilities P l a n t w i t h e x p e c t e d as Reflections at Keppel strong commitment levels. among the Divisions, and completion in 2013. Bay and Marina Bay Suites Keppel Land and K-REIT enhance sustainable growth and new project launch at Asia recently announced a in our various businesses.

On the back of strong Lakeside Drive to capture proposed asset swap. Keppel keppelite economic performance, this demand. Elsewhere Land will divest its one-

Keppelite I October 2010 Sustaining Growth 7

Fortifying collective strengths At Keppel Corporation’s third quarter and nine months 2010 results webcast, CEO Mr Choo Chiau Beng touched upon various project updates and opportunities, as well as the Group’s ability to weather the uneven global recovery. Keppelite reproduces excerpts of his speech.

CAUTIOUS OPTIMISM In contrast, Asia is experiencing Financial conditions across indicate that energy demand Over the last quarter, we a vigorous and balanced the globe have started to from developing countries have seen continuing global recovery. China and India are normalise but institutions is set to grow by 65% recovery, although the pace both poised to register strong and markets remain fragile. from 2005 to 2030. With varies across different regions growth this year. Singapore’s Oil prices are expected to fossil fuels remaining the and sectors. The US recovery economy for the third quarter remain around US$80 a dominant energy source is moderating in the face of grew by 10.3%, and is on barrel in the coming year. for the foreseeable future, debt, continued uncertainty track for full-year growth of a the long term outlook for and waning stimulus, while robust 13-15%, although the OFFSHORE & MARINE offshore drilling will stay Europe continues to see government has cautioned The fundamentals of the positive. an uneven recovery amidst that this is not likely to be offshore and marine industry complex policy challenges. sustained. remain sound. Projections Continues on page 8...

With oil companies expected to increase exploration and production efforts in the coming year, Keppel Offshore & Marine remains well-positioned to meet the needs of its customers and the industry

Keppelite I October 2010 8 Sustaining Growth

...continues from page 7.

O n e x p l o r a t i o n a n d production (E&P) spending, national oil companies are less sensitive to oil price movements. With oil prices stabilising at the current range, many offshore oil and gas projects are profitable, although financing for many of them is still an issue. Nevertheless, oil companies are expected to increase their E&P spending in the coming year.

There has been little change in the global rig fleet

composition for several years. Keppel Land is strengthening its presence in China with developments such as the Zhongshan waterfront residential cum marina development Following the Macondo in Guangdong incident, the industry is seeing a flight to quality, as as our reputation for delivery capacity, to Petrobras early, To be integrated as part of an owners and operators move and execution excellence. We safely and within budget. earlier project secured in April towards high-grading of welcome the lifting of the last year, this latest project their rig fleets. Interest is also ban on deepwater drilling in We are also continually will strengthen KIE’s working returning to shallow water the Gulf of Mexico and the developing innovative relationships with local rigs, reflected by the upward implementation of tighter product offerings to our partners and position us well to trend in dayrates for jackups. regulations. customers in new growth capture more opportunities in The dayrates of new and areas. Our new compact and the UK and the rest of Europe. better grade jackups against Orders for newbuild rigs are slim drillship designs, as well Leveraging its market leader those of standard ones are returning and the level of as our offshore wind turbine position in China, KIE is also also widening. enquiries has also picked installation vessel, will meet actively seeking opportunities up. We have raised our stake the industry’s quest for in the waste-to-energy sector Keppel is well-positioned to in Subic Shipyard in the effective yet environmentally there. meet the needs of the industry. Philippines to better capture friendly solutions. Two Ensco semisubmersibles opportunities from the On 21 October, KIE submitted built by Keppel have been increase in general repair and INFRASTRUCTURE a bid to design, build and permitted to return to drill upgrading work. We have The gathering global operate Singapore’s largest in the Gulf of Mexico, while bidded for the Petrobras rig momentum towards desalination plant to be two of three vessels helping tenders and are awaiting the sustainable development has located in Tuas. If we are in the spill relief operations results. provided good opportunities competitive, we look forward – Development Driller III for Keppel Integrated to more detailed discussions and Q4000 – were built by In the interim, we continue Engineering (KIE) to with the government in the Keppel. to focus on honing our continue growing its global coming months. strengths in delivery and track record. KIE has just We have also taken on execution excellence. On announced a second major Meanwhile, in Qatar, we several uncompleted projects 7 October, we achieved a contract win of $341 million have encountered some cost from other yards. This is a significant milestone in Brazil in the UK, for the second overruns and delays in our testament to both our ability by delivering the country’s phase of an Energy-from- projects, but we expect these to design and build high largest converted FPSO Waste plant in the Greater issues to be ironed out in the quality premium rigs, as well P-57, in terms of production Manchester area. coming year.

Keppelite I October 2010 Sustaining Growth 9

For Keppel Energy, we In China, the government has important market, with the The first phase of the Keppel are proceeding with the introduced further cooling establishment of a wholly- eco-development in the Eco- 800 MW expansion of our measures to stabilise the owned subsidiary, Keppel City, Seasons Park, is on track power plant on Jurong Island country’s property sector. Land China, which will own for launch before the end with an investment of around Nonetheless, with China’s and manage all of Keppel of the year. It is heartening $900 million, and the rapid urbanisation and the Land’s projects in China. The that more than 3,500 people e x p e c t e d c o m p l e t i o n leadership’s move towards China operations already have already registered their i s b y 2 0 1 3 . K e p p e l sustainable development, contribute 28% of Keppel interest for the units to be Telecommunications & we believe that the Chinese Land’s total earnings and launched. Transportation is also property market will see with the formation of Keppel expanding capacity in logistics continued growth for many Land China, we expect this to ON TRACK FOR in Singapore and China to years to come. grow in the coming years. SUSTAINED GROWTH meet greater demand. The multi-pronged growth Indeed, we have just The Sino-Singapore Tianjin strategy which we have PROPERTY succeeded in the acquisition Eco-City has continued to put in place is working out In property, our key markets of two prime sites in Chengdu show progress. This past well for us. By adhering have continued to see steady that would allow us to quarter saw the launches diligently to and sharpening growth. Although private grow our presence in this of some of the residential our focus on our core home prices in Singapore important city and capture developments in the Eco- competencies, we are able grew at a slower clip in value from China’s Develop City’s Start-Up Area. In recent to weather the storms well the last quarter, the strong the West strategy. With more months, our joint venture and effectively ride on the economic growth expected than 40,000 homes in the company has continued uneven global recovery. The this year means that demand pipeline, China accounts for to attract international outlook for the Group as a is likely to stay resilient. We about half of Keppel Land’s technology partners such as whole in the near term is are targeting to launch our total residential landbank. Hitachi and ST Engineering good, notwithstanding some homes in the Jurong Lakeside to contribute their ideas and immediate challenges which Drive site later in the year to We have sharpened Keppel expertise in this landmark our industries are currently meet this demand. Land’s focus on this very project. facing. keppelite

Keppel Integrated Engineering will provide proprietary Energy-from-Waste technology to the Runcorn II project and construct the plant in Greater Manchester

Keppelite I October 2010 10 Sustaining Growth

Harnessing core competencies As Keppel delivers another set of robust results, the Group continued to strengthen the breadth and depth of its businesses to drive sustainable growth. Excerpts of remarks from Senior ED and Group Finance Director Mr Teo Soon Hoe at the third quarter and nine months 2010 results announcement are reproduced here.

FREE CASH FLOW expenditure. The resultant Our proven track record in for the first phase of the Net cash used in operating free cash flow was an the design and construction Greater Manchester Energy- activities before changes in outflow of about $1 billion of drilling units has enabled from-Waste Plant in the working capital was $1.4 for the nine months. us to further develop and third quarter and further billion for the first nine offer proprietary and versatile collaborated with the months of 2010. This was BUSINESS REVIEW & solutions. We have received partners in the UK to carry partly offset by the negative OUTLOOK active enquiries on our out the second phase of the working capital changes, drillship and multi-purpose Greater Manchester project largely for expenditure on Offshore & Marine platforms. worth $341 million. When offshore and marine work, The challenging environment combined, they will be one property development and in the aftermath of the Gulf The Keppel FELS multi- of the largest waste and acquisition of landbank. of Mexico oil spill incident purpose self-elevating renewable energy projects led to new orders of only platform design has been in the UK upon completion. The Group spent more $2 billion. With the new chosen by the Seafox Group Keppel Seghers will continue than $700 million on contracts, net orderbook as as the basis for a new- to provide its proprietary acquisitions and operational at September 2010 stood at generation, wind turbine technology for the plant’s capital expenditure. This $4.1 billion, with deliveries installation vessel that can boiler, heat recovery, and flue included the acquisition of extending through to 2013. withstand harsh offshore gas cleaning system. a commercial building in The successful 12 deliveries environmental conditions in Australia by K-REIT Asia, made by the Division in the water depths of 65 metres Capitalising on the increasing further development cost of three months are further in the North Sea. Looking demand for customised Marina Bay Financial Centre testament to its commitment ahead, we are well-positioned logistics services, Keppel and Ocean Financial Centre, to quality and on schedule to capture opportunities, Telecommunications & and other operational capital project execution. offer and deliver competitive Transportation is expanding solutions to our customers. its warehousing space to further grow its businesses in Infrastructure the Asia Pacific region. Infrastructure Division is expected to complete Property the Qatar Solid Waste Notwithstanding property Management Centre by the cooling measures introduced end of this year and the recently in the region, we Doha North Wastewater do not foresee a significant Treatment Plant at the end adverse impact on the overall of 2011. There are cost over- property market in the near runs in the two projects and term. The sustained economic we expect to negotiate and growth especially in China, resolve these issues soon. Vietnam and Indonesia are expected to underpin K e p p e l I n t e g r a t e d demand for home ownership. Keppel Offshore & Marine continually invests in research and development to move into new frontiers with innovative vessel designs to meet customers’ demand Engineering broke ground On the commercial front, the

Keppelite I October 2010 Sustaining Growth 11

As part of its plans to further grow its businesses in the Asia Pacific region, Keppel Logistics is completing a new logistics hub in Foshan, China

improved business sentiments and GE Tower presents the continues to capitalise GROUP OUTLOOK are expected to drive demand opportunity to increase o n o p p o r t u n i t i e s t o While the Group has delivered for office space, and our quality residential landbank, create value through a good set of results for Property Division is poised to and ride on the growing various acquisitions the quarter, we are always benefit from the promising popularity of city living. and developments. The looking for opportunities outlook. At the same time, by redevelopment of Barclays to do even better. Over the acquiring Marina Bay House is one fine example. years, we have built up our We are strongly encouraged Financial Centre Phase One, We are confident that upon position to be the provider by the active sales volume K-REIT Asia will benefit from its targeted completion of choice in our business in our residential sector in the portfolio expansion in early-2014, the new sectors across the globe. Our the Singapore and overseas without any additional office tower will meet core commitment – to create region, as well as high level equity funding. This deal will the demand of tenants value for our stakeholders of enquiries for the local generate greater returns for seeking well designed and – remains firm and clear. office space. On 11 October unit-holders of K-REIT Asia. sustainable buildings in By leveraging on internal 2 0 1 0 , w e a n n o u n c e d Overall, we are confident Jakarta’s Central Business competencies across our the proposed asset swap that the transaction will District. The successful different Divisions, we shall agreement between Keppel strengthen both companies’ acquisition of two prime continue to build on our Land and K-REIT Asia. financials and unlock the sites in Chengdu and strong strategic platforms to

values of their assets. the waterfront site in propel growth. keppelite For Keppel Land, the Zhongshan strengthens acquisition of Keppel Towers The Property Division our focus in China.

Keppelite I October 2010 12 Sustaining Growth

Positioning for growth Keppelite highlights questions and answers at the nine months results webcast.

ON O&M PROSPECTS I don’t believe we are losing ON INFRASTRUCTURE’S ON CAPEX AND MARGINS competitiveness. QATAR PROJECTS TSH: The $700 million TCH: Lately we have had TCH: There were indications comprise largely capital a slew of enquiries for CCB: Third quarter operating that costs have overrun at expenditure (capex) on our jackups, so we believe that margins were up. Because our last project meeting on property business – Marina demand is coming more for of the lower workload, we the Qatar projects. With Bay Financial Centre and jackups at this point in time. have reduced the need for the delay in the projects, Ocean Financial Centre, However, for other places outsourcing to yards outside we would have to provide some capex on the Offshore such as Brazil, there will Singapore, which reduced our for costs overrun over that & Marine Division, as well as be demand for drillships, costs. We saved on logistic period. acquisition of landbank and

semisubmersibles and other costs and cost of operating properties. keppelite deepwater units. elsewhere. We also have However, we are putting in productivity gains from our claims which we believe may CCB – Mr Choo Chiau Beng, CEO of Keppel Corporation We are still waiting for experience curves. be favourably considered, Petrobras to open the bids, in view of what actually TSH – Mr Teo Soon Hoe, Senior ED and Group Finance which apparently will be after We had secured projects happened. Director of Keppel Corporation the elections. On the recent at good market prices, TCH – Mr Tong Chong Heong, jackup contracts announced resulting in high margins. CCB: The issues are not likely ED of Keppel Corporation by Sembcorp Marine, we On top of that, we were to be resolved by end of and CEO of Keppel Offshore bidded for the projects also supplemented by repair 2010, as one of the projects & Marine and lost. Nonetheless, we and offshore FPSO vessel will only be delivered end KW – Mr Kevin Wong, Group hope to win future jobs. conversion works. of 2011. CEO of Keppel Land

A number of factors, including gains from improved productivity, boosted margins of the Offshore & Marine Division

Keppelite I October 2010 Sustaining Growth 13

Keppel Merlimau Cogen commences 800 MW expansion

With the 800 MW expansion, Keppel Merlimau Co-generation Plant’s eventual generation capacity will be 1,300 MW

K e p p e l E n e r g y, t h e Natural Gas (LNG) to be capture opportunities from 2007 and has a good track energy division of Keppel supplied from the new Jurong the evolving energy market record of good track record Corporation, will commence Island LNG terminal. The in Singapore.” of efficiency and reliability. It the 800 MW expansion of total investment is expected is also the first independent its natural gas-fired Keppel to be around $900 million. The turnkey contract for the power project to enter the Merlimau Co-generation Keppel Energy will be using expansion was awarded to Singapore electricity market Plant on Jurong Island. internally generated cash ALSTOM Power Singapore since the New Energy Market and external borrowings to Pte Ltd and ALSTOM of Singapore was implemented With completion expected fund the expansion. (Switzerland) Ltd. A long- in January 2003. by 2013, the expansion will term service contract for boost the co-generation Dr Ong Tiong Guan, MD major maintenance of The co-generation plant plant’s capacity to 1,300 MW of Keppel Energy, said, turbines has also been is located at the Tembusu from its current capacity of “The expansion of Keppel awarded to ALSTOM Power sector of Jurong Island and it 500 MW. Merlimau Co-generation O&M Ltd and ALSTOM Power is well-positioned to support Plant is a significant Singapore Pte Ltd. the surrounding industries When completed, the asset milestone in our growth with their electricity, steam will be fuelled by both piped strategy. With the expansion, The Plant commenced supply, demineralised water natural gas and Liquefied Keppel Energy will be able to commercial operations in requirements. keppelite

Keppelite I October 2010 14 Sustaining Growth

Keppel Land and K-REIT swap prime assets

Marina Bay Financial Centre Keppel Towers GE Tower Phase One

The proposed asset swap will enhance value for both shareholders of Keppel Land and unitholders of K-REIT Asia

Keppel Land has entered into into premium residences for shareholders of Keppel Land area for live-work-play and a conditional share purchase city living. With a plot ratio and unitholders of K-REIT future development plans for agreement with K-REIT Asia of 5.6 and total gross floor Asia. the Tanjong Pagar precinct for the divestment of its area of 481,800 sf, the high- present good investment one-third interest in Phase rise residential development “For Keppel Land, the opportunities into the One of Marina Bay Financial will yield approximately 620 acquisition presents the future. Centre (MBFC Phase One) at residences with commercial opportunity to increase our an agreed value of $1,426.8 spaces on the first level. residential pipeline with the “At the same time, through million (inclusive of rental potential redevelopment of Keppel Land’s interest in support). MBFC Phase One comprises Keppel Towers and GE Tower. K-REIT Asia, the world-class two fully committed office The rapid transformation of MBFC development will As part of the asset swap, towers MBFC Towers 1 & 2, the business district into an continue to augment our K-REIT Asia also signed a with a total net lettable area conditional sale and purchase (NLA) of about 1.65 million agreement with a wholly- sf, Marina Bay Link Mall owned subsidiary of Keppel with a retail NLA of about Land for the divestment of 94,500 sf and 684 carpark The proposed asset swap will enhance Keppel Towers and GE Tower spaces. value for both shareholders of Keppel (KTGE) at an agreed value of Land and unitholders of K-REIT Asia. $573 million. Mr Kevin Wong, Group Mr Kevin Wong CEO of Keppel Land, said, CEO Keppel Land intends to “The proposed asset swap Keppel Land redevelop the site of KTGE will enhance value for both

Keppelite I October 2010 Sustaining Growth 15

sterling portfolio of prime with additional capital to Ms Ng Hsueh Ling, CEO of The agreements for both the commercial properties invest in more projects that K-REIT Asia Management, divestment and acquisition which have become the could generate higher said, “With the acquisition were negotiated at arm’s preferred business addresses returns. of MBFC Phase One, 90% of length on a willing-buyer of multinational corporations K-REIT Asia’s portfolio will be willing-seller basis, and are a n d m a j o r f i n a n c i a l After the asset swap, K-REIT strategically located within subject to the approval of institutions.” Asia’s portfolio asset size will Singapore’s prime Raffles the minority shareholders of increase from $2.5 billion to Place and the Marina Bay Keppel Land and minority For Keppel Land, the approximately $3.4 billion. precinct. unitholders of K-REIT Asia at acquisition price for KTGE the respective extraordinary payable to K-REIT Asia will K-REIT Asia will fund the “The asset swap will upgrade general meetings. be set-off against the sale acquisition of the one-third K-REIT Asia’s portfolio proceeds for MBFC Phase interest in MBFC Phase One of prime Grade A office U p o n a p p r o v a l , t h e One. The divestment will through a combination of assets without having to transaction is expected to yield a net gain of about the sale proceeds from the raise additional equity, and be completed no later than

$321 million and net divestment of KTGE, new will improve K-REIT Asia’s 31 December 2010. keppelite cash proceeds of about borrowings and part of the cash flow resilience while $812 million, as well as proceeds from the November maintaining a healthy provide the company 2009 rights issue. balance sheet.”

Strengthening focus on China

Keppel Land will strengthen of Keppel Land, said, “China in China to build on our will be re-designated its focus in China through is one of our strongest and sterling portfolio.” President (China). the establishment of wholly- most important markets. owned subsidiary, Keppel With Keppel Land China, Mr Choo Chiau Beng will At the same time, the Land China. we will be even more nimble be Chairman of Keppel organisation is further to capture value in such L a n d C h i n a a n d streamlined with Mr Tan Building on the Group’s a vast and fast growing Mr Kevin Wong the Deputy Swee Yiow who is re- strong network and track market. Chairman. designated as President record in 20 cities across (Singapore Commercial) and C h i n a , K e p p e l L a n d “Keppel Land’s experience Other board members include Head, Regional Investments currently has a total GFA in masterplanning and Mr Teo Soon Hoe, Mr Khor (Indonesia, Malaysia & of 5.47 million sm which developing townships Poh Hwa, Mrs Koh-Lim Wen Myanmar) and Mr Augustine translates to more than and prime residential Gin, Mrs Oon Kum Loon, Tan as President (Singapore 40,000 homes. developments will contribute Mr Loh Chin Hua, Mr Tay Residential) and Head, to sustainable, urban living Lim Heng, and Mr Ang Regional Investments (India & Keppel Land is also an solutions which are in rising Wee Gee, who will also be Middle East). Mr Linson Lim investor, as well as developer demand there. appointed the Executive Vice is re-designated as President cum project manager for Chairman. (Vietnam, Thailand and the

Keppel’s development in the “We will also leverage our Philippines). keppelite landmark Sino-Singapore strong Singapore experience Mr Ang will helm Keppel Tianjin Eco-City. i n d e v e l o p i n g p r i m e Land China while Mr Ho commercial properties to Cheok Kong, who currently Mr Kevin Wong, Group CEO actively look for opportunities oversees China operations,

Keppelite I October 2010 16 Sustaining Growth

Securing rig refurbishment contracts

Keppel FELS has secured on top of its proven project “We would like to thank with our valued customers contracts worth about management and execution Saipem and Ensco for in the coming months to US$101 million ($134 million) capabilities, further enables affirming us with the award deliver the projects to their to complete and refurbish the company to add value of these two new contracts. highest satisfaction,” added

two semisubmersible drilling in the completion, repair We remain committed to Mr Wong. keppelite rigs. and refurbishment of all work shoulder-to-shoulder types of rigs. This unique The first contract was proposition is something that awarded by Saipem S.p.A our customers appreciate.” for the commissioning of the technologically advanced The second contract was Frigstad D90 semisubmersible awarded by a subsidiary of rig, Scarabeo 9. A significant Ensco plc for the upgrade, part of the work scope repair and refurbishment involves the commissioning of its proprietary ENSCO of all marine and drilling sub- 7500 semisubmersible rig. systems onboard. Equipped The major work scopes with a Dynamic Positioning include significant life 3 system, Scarabeo 9 will be extension work, renewal of able to operate at a water steel and pipes, operational depth of 3,600 metres. enhancements, overhauling of machinery and expansion Mr Wong Kok Seng, ED of the living quarters. Keppel FELS will leverage its engineering expertise and project execution capabilities in the of Keppel FELS, said, commissioning of Scarabeo 9 for Saipem “Rig completions and refurbishments are highly complex projects by nature, because every vessel that comes into our yard is different. Very often, these rigs are in transit from various locations across the world and require further assessments and engineering solutions with quick turnaround times.

“Leveraging our internal competencies, we are a b l e t o s i z e - u p t h e project requirements and recommend the best course of action to get the jobs done safely, on time and within budget. Keppel FELS’ in-

house engineering expertise, Keppel FELS has been entrusted by long-time customer Ensco with the refurbishment of the ENSCO 7500 semisubmersible rig

Keppelite I October 2010 Sustaining Growth 17

Further foray into Chengdu

Leveraging its strong track record and relationships in fast-growing Chengdu, Keppel Land China secured two prime sites at Jinjiang District and Xinjin County for RMB 1.21 billion ($249 million) and RMB 617 million ($127 million) respectively in the Sichuan capital for residential development.

The first purchase is a 5.1-ha city site located along the Second Ring Road in Panchenggang, Jinjiang District. Situated in a prime location with high connectivity, the site is in The Arcadia, Keppel Land’s luxury villa development catering to the local upper-income class and expatriate community in Tianjin, is fully sold close proximity to Dongdajie, Chengdu’s financial street, segment, both developments burgeoning population. second-tier city the Company as well as to shopping are expected to launch their These favourable conditions, entered into. landmarks, the metro station first phases in the first half coupled with a limited supply and renowned schools. The of 2012. of prime sites in the city, The Waterfront, a 1,143-unit proposed development is augur well for our projects,” condominium development, envisioned to provide about “The latest acquisitions are said Mr Ang Wee Gee, is already fully sold. The 1,630 high-rise apartments. in line with our strategy Executive Vice Chairman of Botanica, which is jointly to further strengthen our Keppel Land China. developed with Surbana The second acquisition is focus in China. Since 2002, Land, has successfully sold for two separate sites with Keppel Land has built up Currently, Keppel Land more than 5,000 units over a combined land area of a strong reputation for its has two developments in five phases since 2005.

25 ha, located along the quality homes in Chengdu. Chengdu, which is the first keppelite same street in Mumashan, We are confident that the Xinjin County. The sites are in homes in these two prime close proximity to the Tianfu sites will be much anticipated Chengdu’s growth is well supported by New City, which is poised and will meet the surging strong fundamentals, increased foreign to be Chengdu’s software demand brought about town and the future CBD by Chengdu’s fast-track investments and rising affluence amidst with supporting lifestyle economic growth. a burgeoning population. These amenities. favourable conditions, coupled with a “Chengdu’s growth is limited supply of prime sites in the city, The two sites will be jointly well supported by strong augur well for our projects. marketed as a 250-unit villa fundamentals, increased Mr Ang Wee Gee development. Targeted at foreign investments and Executive Vice Chairman the upper-middle income rising affluence amidst a Keppel Land China

Keppelite I October 2010 18 Sustaining Growth

A Viking ready for action

Lady Sponsor Mrs Karen Russell at the christening of Rowan Viking at Keppel FELS, accompanied by senior management from Keppel and Rowan Companies, Inc

Keppel FELS has delivered development arm, Offshore by Lady Sponsor, Mrs Karen hook-load capacities of two the first of three KFELS N Technology Development Russell, spouse of Mr David million pounds or more, and Class jack-up rigs being built (OTD), following Keppel’s Russell, Rowan’s Executive will strengthen our ability to for Rowan Companies, Inc. extensive experience in VP of Drilling Operations on help our customers drill their (Rowan) safely, on time and constructing rigs for the 23 October 2010. most challenging wells. within budget. North Sea region since 1985. The North Sea region is Mr Matt Ralls, President and “Importantly, these rigs will Built to the proprietary one of the world’s toughest CEO of Rowan, said, “The be certified to work in the KFELS N Class design, operating environments for high-specification KFELS N demanding Norwegian sector this new-generation rig is offshore exploration and Class rigs are among the of the North Sea, where we the largest jackup to be production. most capable jackups in see solid demand for high- constructed in Singapore. the world. These rigs will specification jackups. At the This rig design is the brainchild The rig was named the add to our market-leading same time, we see multiple of Keppel’s research and Rowan Viking at Keppel FELS position in large jackups with drilling opportunities in other

Keppelite I October 2010 Sustaining Growth 19

global markets for this elite environments anywhere in class of rig.” the world, making them exceptionally versatile and Towering at 568 ft qualified for worldwide (extendable to 598 ft) or deployment. We are very about 56 storeys, the KFELS pleased that Rowan has N Class rig can operate in placed their confidence in harsh weather conditions the KFELS N Class fleet.” in water depths ranging from 400-500 ft, which are Echoing Mr Tong’s sentiments, 40% deeper than traditional Mr Michael J. Dowdy, VP, units in benign waters, and Engineering of Rowan, drilling depths of 35,000 ft, shared, “A project of this 15% deeper compared to magnitude requires the hard existing harsh environment work of many individuals jackups. The design is in to reach fruition. From the full compliance with the engineering drawing board demanding and technical to the cutting room floor to challenging requirements final outfitting at quayside, of rigs operating in the many people have put their Norwegian sector of the heart and soul into the design North Sea. and construction of this rig. They have done an incredible Speaking at the ceremony, job and we appreciate all of Mr Tong Chong Heong, CEO their hard work. of Keppel Offshore & Marine, said, “The Rowan Viking is In addition, Keppel FELS the result of the winning has had an outstanding combination of Keppel safety record during the Keppel FELS has delivered the first of three KFELS N-Class jackup rigs, Rowan Viking, being OTD’s rich design expertise, construction of the Rowan built for Rowan Companies, Inc. safely, on time and within budge and Keppel FELS’ strong Viking without any lost time engineering, construction incident. I cannot stress 26 ft apart. This special within budget and with no and project management enough how important that design allows the jackup to incidents.” experience. is to Rowan as we have an accept process modules for unwavering commitment production activities while C o n s t r u c t i o n o f t h e “Recovery of oil and to safety and strive to having concurrent drilling remaining two KFELS N Class natural gas in the North achieve an injury-free work activities at the secondary rigs, the Rowan Stavanger Sea’s inhospitable climate environment. We are very cantilever position. The two and the Rowan Norway, are and great depths requires proud to see that Keppel cantilever drilling positions on schedule with expected advanced and cost-effective FELS is also committed to also provide an exceptionally deliveries in 1Q and 2Q of offshore technology. safe work practices.” wide drilling envelope. 2011, respectively. In the US, Combining state-of-the-art Keppel AmFELS is currently design and dual capabilities, The KFELS N Class design Mr Tong added, “We are constructing the remaining the KFELS N Class rigs are also provides customers the heartened to deepen our two of four Rowan EXL- capable of performing flexibility of having a jackup successful partnership with Class jackup rigs (Enhanced efficient and safe drilling and that can undertake drilling Rowan and will strive to Super 116E), with expected production activities, even and production concurrently. deliver the remaining four deliveries in 1Q 2011 and 3Q under the severe conditions This high-specification rig Rowan rigs being built at our 2012. keppelite of the Norwegian North Sea. has features allowing drilling global yards with Keppel’s They can drill in challenging to take place at two positions hallmark quality, on time,

Keppelite I October 2010 20 Sustaining Growth

Enhancing bench strength

The Keppel Group welcomes four new members to its companies’ Boards, where they join other business leaders in steering the organisation towards sustainable growth.

Keppel Corporation Keppel Corporation has appointed Mr Tan Ek Kia and Mr Danny Teoh as Independent Directors on the Board with effect from New Board Directors augment the Keppel Group (from left): Mr Tan Ek Kia, Mr Danny Teoh and Mr Lim Chin Leong 1 October 2010.

Mr Tan Ek Kia, 62, is an In 2001, Mr Tan was conferred and the Singapore Dance Marine (Keppel O&M), the industry veteran in the oil, Panglima Gemilang Bintang Theatre. company appointed Mr Lim gas and petrochemicals Kenyalang by the State Chin Leong to its Board with sector, having spent over Government of Sarawak, Dr Lee Boon Yang, Chairman effect from 13 September 33 years at oil major Royal Malaysia, which carries the of Keppel Corporation, said, 2010 and Mr Loh Chin Hua Dutch Shell. His extensive title Datuk. “We are privileged to have with effect from 14 October experience at Shell included Ek Kia and Danny join our 2010. senior project management Mr Danny Teoh, 56, was Board. Both of them have and leadership positions in Managing Partner of KPMG many years of experience Mr Lim, 55, retired in January various locations including Singapore and a member of in their respective areas of this year as Chairman of Malaysia, Holland, China, KPMG’s International Board expertise. Asia, Schlumberger, and is Asia Pacific and Middle and Council until he retired on currently based in Beijing, East. 1 October 2010. He has more “Ek Kia’s deep insights in China. Over a career of than 30 years of experience the global energy sector will 30 years with Schlumberger, Mr Tan’s last position at Shell in the areas of auditing add value to our Group’s Mr Lim held senior before he retired in 2006 and financial advisory in strategic direction, while management positions in was Vice President, Ventures Singapore, Malaysia and Danny’s wealth of experience a wide range of areas and and Developments, Shell the UK. i n f i n a n c e a n d r i s k locations spanning Asia Chemicals, Asia Pacific and management will contribute Pacific, Middle East and Middle East region. A f t e r j o i n i n g K P M G to our overall financial the US. Singapore in 1984, governance of the Group. Currently, Mr Tan sits on the Mr Teoh was admitted to Together, they will support Mr Loh, 49, is the MD of Alpha boards of various companies the partnership in 1989. He our drive for sustained, Investment Partners Limited in Singapore, including SMRT was previously Head of Audit broad-based growth and to (Alpha), the real estate fund Corporation and CitySpring and Risk Advisory Services enhance shareholder value management arm of Keppel Infrastructure Management practices in Singapore as across the Group.” Land. He joined Alpha in Pte Ltd. He is also Chairman well as in Asia, and served September 2002, and has of Citygas Pte Ltd and a on its global team. Mr Teoh Keppel Offshore & 24 years of experience in real Board Director of Keppel currently sits on the boards Marine estate investing and fund Offshore & Marine. of Changi Airport Group Over at Keppel Offshore & management.

Keppelite I October 2010 Sustaining Growth 21

Prior to joining Alpha, Mr Loh extensive career in the air was the MD of Prudential transportation and logistics Investment Management Inc. industry. From 1998 to 2004, He also held appointments he was the Chief Executive in the Government of of SATS Airport Services Pte Singapore Investment Ltd. He became the COO Corporation (GIC). of SATS Ltd (SATS) in 2004 where he held the post till Keppel T&T his retirement in 2009. Keppel Telecommunications & Transportation (Keppel Mr Singh is currently the T&T) appointed Mr Karmjit Chairman of the Chartered Singh as an Independent Institute of Logistics and Non-Executive Director to Transport, Singapore, and is its Board with effect from also a member on the Board 1 October 2010. of The Logistics Institute- Mr Loh Chin Hua Mr Karmjit Singh Asia Pacific of the National

Mr Singh, 63, has had an University of Singapore. keppelite Mission Peregrino accomplished

Keppel Shipyard has successfully delivered the technologically-advanced Floating Production Storage and Offloading (FPSO) vessel, Maersk Peregrino, to Maersk FPSOs on 14 October 2010.

Mr Peter Williams, Senior Project Manager of Maersk Peregrino, shared, “Many congratulations on the successful departure of the Maersk Peregrino today. Maersk Peregrino was converted to meet Maersk FPSOs’ stringent requirements which will prepare her to handle the heavy crude oil of the I would like to extend a Peregrino field in offshore Brazil w a r m t h a n k y o u a n d appreciation to the Keppel involved the conversion well as upgrading the capacity of 1.6 million team for accomplishing a of a newbuild Very Large accommodation quarters. barrels. very fine job. The on-schedule Crude Carrier. This included and safe delivery of this high assembling and integrating The FPSO will operate in Mr Stig Hoffmeyer, CEO of quality FPSO is due to the the internal turret, a water depth of around Maersk FPSOs and Maersk excellent partnership that we fabricating and installing 100 metres at the Peregrino LNG, was hosted by senior have established with Keppel the flare tower, process field in Brazil’s Campos management from Keppel over the years.” piperack and helideck, Basin and is capable of Shipyard when he toured installing and integrating producing 100,000 barrels M a e r s k P e re g r i n o o n

Work on Maersk Peregrino topside modules, as of oil per day with a storage 2 October. keppelite

Keppelite I October 2010 22 Sustaining Growth

Tianjin Eco-City draws more strategic partners The Sino-Singapore Tianjin Eco-City (Tianjin Eco-City) has recently sealed several new collaborations with top quality eco-partners to work towards realising a model for sustainable urban living in China.

Keppel Telecommunications & Transportation has signed a Letter of Intent with SSTEC to explore the feasibility of developing an integrated logistics distribution centre within the EIP

FOSTERING AN ECO- latest signings, SSTEC Area Government and other industrial land deals for the ECONOMY has attracted a total of dignitaries. EIP and EBP with Zhuhai Tianjin Eco-City is well-poised RMB 2.5 billion worth of Singyes Renewable Energy to be China’s investment industrial investments to SSTEC’s strategic eco- Technology, PV World Pte hotspot for global green date. technology partners, namely Ltd, Element Computing enterprises as its Eco-Business Hitachi, Philips and ST Technology and Sichuan Park (EBP) and Eco-Industrial Held in conjunction with Engineering, gave a ringing N e a u t u s Tr a d i t i o n a l Park (EIP) continue to make the inaugural China (Binhai endorsement by committing Chinese Medicine. Keppel significant progress. Tianjin) International Eco- to establish their regional Telecommunications & City Forum (Binhai Forum) headquarters in theTianjin Transportation also signed a The Sino-Singapore Tianjin organised by the People’s Eco-City. Each of them will Letter of Intent with SSTEC Eco-City Investment and Government of Tianjin Binhai take up anchor tenancy in to explore the feasibility of Development Co., Ltd. New Area (TBNA) (see page individual office buildings in developing an integrated (SSTEC) has signed a series 25), the agreements were the EBP. The Tianjin Eco-City logistics distribution centre of investment deals with signed in the presence of Mr will be their strategic base for within the EIP. nine companies pertaining Mah Bow Tan, Singapore’s research and development, to sales and leasing, Minister for National eco-technology showcase BUILDING “GREEN” transfer of land use rights Development, Mr Zong as well as regional sales HOMES AND CARS as well as the establishment Guoying, Deputy Secretary and distribution activities in In line with Tianjin Eco-City’s of a joint venture for of Communist Party of China Tianjin and Northern China. aim to provide affordable housing and construction Binhai New Area Committee homes, SSTEC has entered projects. Including these and Chief of Binhai New SSTEC also sealed four into a joint venture with

Keppelite I October 2010 Sustaining Growth 23

SSTEC has partnered Hitachi, Philips, Siemens and ST Engineering, as well as Ayala Land and Farglory to create the first-of-its-kind Eco-CBD, a central piece in the Tianjin Eco-City’s next phase of development

Tianjin House Construction ZZJT will also invest research and development Construction of an entire Development Group (ZZJT) RMB 300 million in the EBP centre as well as its testing transportation network for to develop public housing, to develop a low carbon, and certification, technology the Tianjin Eco-City is on ready-built factories in the energy-efficient green consulting and sales track, and this will be ready EIP, as well as workers’ building to house its first headquarters, amongst dormitories. national housing technology others. Continues on page 24...

Keppelite I October 2010 24 Sustaining Growth

...continues from page 23.

for its first batch of residents Understanding with four (China) (Farglory), to create SSTEC also signed separate in 2012. Future residents global eco-technology the first-of-its-kind Eco-CBD, contracts with Hitachi, can expect a comprehensive partners – Hitachi (China) in Tianjin Eco-City. Philips and ST Engineering network of green public Ltd (Hitachi), Philips to implement eco-solutions transportation system and (China) Investment Co., T h e c o m p a n i e s w i l l for energy efficiency and electric vehicles. SSTEC also Ltd (Philips), Siemens Ltd. collaborate and participate in environmental management plans to bundle electric China, Corporate Technology the research and development in Tianjin Eco- City. Through vehicles with the sale of eco- (Siemens), and Singapore of new green technologies these collaborations, SSTEC homes. Technologies Engineering Ltd and develop sustainable and will draw even greater (ST Engineering), as well as practical solutions for the Eco- interest and awareness about China’s Chery New Energy two major Asian real estate CBD in areas such as green the Eco-CBD and other green will be the first automobile developers – Ayala Land, Inc. buildings, connectivity energy and clean-tech companies to

maker to offer such a (Ayala Land) and Farglory efficiency, eco-urban lifestyle invest in the Eco-City. keppelite deal. The company is part Land Development Group and economic vibrancy. of an 11-member alliance with expertise from the engineering, energy and transportation sectors. New CEO for Tianjin Eco-City The alliance’s task is to provide the eco-city with to Senior Minister Goh M r H o w i l l h o l d a environmentally friendly Chok Tong and Director concurrent appointment s o l u t i o n s , a n d m a k e (Special Duties) in the as Advisor on Eco-City transportation a breeze. Ministry of Information, matters in the Ministry of Projects will include providing C o m m u n i c a t i o n s a n d National Development. facilities to charge electric the Arts. He also holds Mr Goh Chye Boon will vehicles in car parks and concurrent appointments in complete his posting stint around the city. the Ministry of Foreign Affairs in Tianjin. (MFA) as 2Director of the FIRST-OF-ITS-KIND International Organisations During Mr Goh’s tenure ECO-CBD Directorate and Director as CEO, SSTEC attracted The Eco-Central Business (Academic Matters) of the top regional developers District (CBD) is a central MFA Diplomatic Academy. as well as several leading piece in the Tianjin Eco- international technology City’s next phase of Mr Ho Tong Yen will take over as CEO of Mr Ho’s career in the companies who share SSTEC at the end of this year development. Currently at Singapore Foreign Service the vision of creating a the conceptualising stage, includes postings at the sustainable, economically the development of the Mr Ho Tong Yen has been Permanent Mission to the vibrant and harmonious Eco-CBD is an important designated as CEO of United Nations (UN) in New city, to participate in the attempt by SSTEC and its Sino-Singapore Tianjin York and the MFA taskforce Tianjin Eco-City project. partners to challenge the Eco-City Investment and during Singapore’s non- norms of environmental Development Co., Ltd. permanent membership of Progress on the Eco-City’s degradation, pollution and (SSTEC), and will take over the UN Security Council. He four-sq km Start-Up Area resource-inefficiency that SSTEC’s outgoing CEO, Mr has also served as Special (SUA) is well on track are often associated with Goh Chye Boon at the end Assistant to then Minister and SSTEC has already conventional CBDs around of this year. for Foreign Affairs, Prof launched land beyond the the world. S Jayakumar, as well as SUA for development. Currently, Mr Ho Tong Yen Singapore’s Deputy Trade S S T E C h a s s i g n e d serves as Press Secretary Representative in Taipei. a Memorandum of

Keppelite I October 2010 Sustaining Growth 25

Building a replicable and scalable Eco-City The Keppel Group is the leader of the Singapore private sector consortium for the Sino-Singapore Tianjin Eco-City (Tianjin Eco-City), a landmark bilateral project between Singapore and China.

M a r k i n g t h e s e c o n d anniversary of the Tianjin Eco-City groundbreaking, the Tianjin Binhai New Area (TBNA) government organised the China (Binhai Tianjin) International Eco-City Forum (Binhai Forum) from 27-29 September 2010.

The Forum highlighted the achievements in eco- city construction and development of a low carbon economy in China.

Dr Lee Boon Yang, Chairman of Keppel Corporation, Dr Lee Boon Yang, Chairman of Keppel Corporation, sharing his views on the challenges of eco-urbanisation at the China (Binhai Tianjin) International Eco-City Forum spoke on the challenges of eco-urbanisation during the Forum, where the Keppel Group was a special sponsor.

Keppel Land and Keppel Integrated Engineering also participated in the Forum’s Eco Expo, which featured showcases from leading green developers as well as eco-technology companies.

Continues on page 26...

Dr Lee (fourth from left) was briefed by KIE’s China-based team during his visit to the KIE showcase in the Eco Expo

Keppelite I October 2010 26 Sustaining Growth

...continues from page 25.

On Keppel’s eco-development in the Tianjin Eco-City

energy efficient solutions to businesses located there.

What are the cost of investments and the expected returns for this project? From Keppel’s perspective, which are the regions and cities in China with promising prospects for real estate development? The Singapore Consortium established a 50-50 joint venture company, Sino- Singapore Tianjin Eco-City Investment and Development At the Eco Expo held in conjunction with the Binhai Forum, Mr Goh Toh Sim, Keppel Corporation’s Chief Representative in China (front Co., Ltd (SSTEC), with our left), had the opportunity to brief Mr Zeng Peiyan, former Chinese Vice Premier and Chairman of China Centre for International Economic Exchanges (front right). Looking on (row behind Mr Goh) are Mr Mah Bow Tan, Singapore’s Minister for National Development (behind left) Chinese partners to act as and Tianjin Mayor Huang Xingguo the master developer for the Tianjin Eco-City. SSTEC has Dr Lee shared with China its strong competencies in for Keppel as it adds to our an initial registered capital Business News on the environmental engineering, strong track record in China of RMB 4 billion. The Keppel significance of the Tianjin property and township and elsewhere in the world. Group currently holds a 45% Eco-City project to Keppel, d e v e l o p m e n t , K e p p e l stake in SSTEC. ahead of the Forum. is in a unique position to Keppel is also developing its Keppelite reproduces contribute to the successful own eco-development in the As a listed company, Keppel extracts of the interview. development of the Tianjin Eco-City which will integrate Corporation is accountable Eco-City. commercial, retail and to our shareholders and other Why did Keppel residential developments. stakeholders. We believe choose to In addition, the Tianjin Eco- Our direct involvement in in creating and sustaining participate in the City is located within the the Tianjin Eco-City signals strong recurring income development of the TBNA, at the heart of the our strong belief in and streams in all our businesses. Tianjin Eco-City? Bohai Rim, which is poised to commitment to the success As such, we expect good Keppel was picked to lead be the third pole of growth of the project. We also returns from the Tianjin Eco- the Singapore Consortium in China, after the Pearl River believe that our eco-homes City project. for this iconic project as Delta and Yangtze River Delta are able to provide the it has a distinct blend of regions. This means that the Chinese homebuyer good Keppel first ventured into core competencies. As Tianjin Eco-City will be able quality housing options. the Chinese market in the part of its vision, the to tap on the rapid economic 1980s, and we have seen Keppel Group aims to be development taking place in Our subsidiaries will also China undergo a dramatic a provider of choice for the TBNA. provide district heating and transformation. To date, we solutions to sustainable cooling systems to the Eco- have completed several real environment and urban The participation in the Tianjin City’s Eco-Business Park, estate development projects living. Through marrying Eco-City project makes sense offering cost-effective and in China’s first-tier cities,

Keppelite I October 2010 Sustaining Growth 27

Beijing and Shanghai. We the opportunities presented closely with our Chinese to move into cities in the also have a successful track by this directive. partner consortium led by next 20 years. record in masterplanning Tianjin TEDA. This is the and executing large- For the Revitalisation of the commercial track of the W h i l e t h i s m a s s i v e scale integrated township Old Northeast Industrial Base project. urbanisation will be a key developments such as The strategy, the government will contributor to China’s Botanica in Chengdu and encourage environmentally The two governments have economic growth, it also Central Park City in Wuxi. friendly construction and established a high-level joint means serious challenges green buildings. This is an steering council co-chaired for China’s social and With the mass urbanisation area where Keppel Land at the vice premier/deputy urban policies. trend in China, Keppel’s has strong competencies prime minister level, to experience in masterplanning in and an award-winning monitor and support the Eco- Issues of urban sprawl, and developing large-scale portfolio, and our presence City’s progress. This council is loss of arable land, eco-townships will be in Shenyang will allow us to supported by a joint working environmentally polluting even more relevant to the tap on these opportunities. committee that is co-chaired activities, spiralling demand Chinese market. I see at the ministerial level. There for energy and natural opportunities for us to grow Where does the is constant discussion and resources, as well as for our presence in tandem with Tianjin Eco-City engagement between the essential social services all China’s national priorities project stand in two governments on how to require urgent government and strategies. Keppel’s strategy? execute and realise the vision attention. The Tianjin Eco-City project is of the leaders. For example, Chinese an important part of Keppel’s Against this broader P r e s i d e n t H u J i n t a o strategy, as a platform to At the same time, Keppel backdrop, what we are mentioned that the next grow our presence in China. It is in regular contact and doing in the Tianjin Eco-City 10 years will be the showcases the Group’s ability exchange with the Singapore offers a new path towards critical period to building to offer holistic integrated government officials achieving sustainable a moderately prosperous solutions for modern urban responsible for the project, urbanisation. To heighten society, linking the past living. and we regularly seek the the demonstrative effect and future as well as to advice and guidance of the of the project, the two further promote the West Our dream for the Eco- local authorities in Tianjin. governments had further strategy. Our current City is to create a practical, agreed that the eco-city presence in Chengdu and replicable and scalable model What is the value of will be developed on Kunming allows us to ride for sustainable urban living the Tianjin Eco-City non-arable water-scarce that can be adopted and against the current land, with limited natural adapted to other parts of backdrop of massive resources. China, as well as the rest of urbanisation in the world. China? Our model is not the China is facing dramatic and only one. Many other How does Keppel accelerating urbanisation at a countries and cities are work with the pace unprecedented in world also exploring different government, as well history. With rural villagers models of development. as other industries flocking to urban centres But I believe that Tianjin and companies? in search of employment Eco-City’s unique value is in The Chinese central and and a better way of life, forging a way forward that local government policies China’s cities are set to grow is practical and achievable and support have been vital considerably both in size through good planning and to the success of the Tianjin and number. More than 350 rigorous implementation Seasons Park is the first collection of eco homes in the Keppel development Eco-City. Keppel works very million Chinese are expected and enforcement. keppelite

Keppelite I October 2010 28 Special Focus

Seamless integration Synergy and teamwork have enabled Keppel’s yards worldwide to accomplish challenging projects across continents with quality and precision.

The FPSO P-57 project completed with 68% of domestic content, fulfilled Brazil’s local content requirement, and was achieved with an outstanding safety record of about nine million incident- free man-hours

Keppel FELS Brasil’s BrasFELS of Brazil’s President H.E. and within budget, and with w i t h w h o m w e h a v e yard in Angra dos Reis and Luiz Inácio Lula da Silva, the highest safety standards. successfully converted 10 Keppel Shipyard in Singapore Governor of Rio de Janeiro FPSOs, including P-57, since have successfully completed Mr Sergio Cabral, as well as “Converted to Petrobras’ 2000.” P-57, the largest Floating Petrobras’ President Mr Jose new-generation FPSO design, Production Storage and Sergio Gabrielli at BrasFELS under SBM/Petrobras’ T h e u p g r a d i n g a n d Offloading (FPSO) vessel yard. They were joined by stringent requirements for pre-conversion of the converted for Brazil. the senior management of safety and quality, the P-57 255,272 dwt tanker, MT Keppel and SBM and some represents a major step in Accord, into the P-57 was Spanning 311 metres by 8,000 BrasFELS employees, in SBM’s business growth as a completed at Keppel Shipyard 56 metres, or almost three celebration of this landmark leading provider of offshore earlier this year, earning the football fields, the vessel was national project. floating production solutions. yard $1 million bonus from delivered early, within budget It is also a strong showcase of SBM for the safe and timely and safely to SBM Offshore Mr Tony Mace, MD and the reliability and capability completion. N.V. (SBM) for Petrobras. CEO of SBM, said, “After of Keppel’s global yards in 24 months of intensive carrying out massive projects Upon reaching the shores of On 7 October 2010, P-57 planning, engineering across continents. Brazil, further work performed was christened by Madam and execution together at BrasFELS yard included the Renée Carvalho, widow of with Keppel, we are very “At SBM, we are proud fabrication and integration the late Mr Apolônio de pleased that the P-57 will be to build on our strong of topside modules, piping Carvalho, in the presence delivered to Petrobras early partnership with Keppel, and electrical equipment, as

Keppelite I October 2010 29

All smiles: President Lula (second from left) and officials from the Brazilian government joined Keppel, SBM and Petrobras in celebrating the successful completion of FPSO P-57 well as commissioning. The “Indeed, we are very project has fulfilled Brazil’s privileged to be entrusted Brazilian pride local content requirement by SBM and Petrobras with with 68% of domestic the conversion of the P-57, More than just jobs. Six hundred thousand content, and was achieved and look forward to deepen employment, the revival of jobs that no longer existed with an outstanding safety this win-win partnership the shipbuilding industry in in this country, we have record of about nine million between our companies.” Angra has ignited a new recovered. incident-free man-hours to surge of national pride date. P-57 is the 12th major FPSO amidst Brazilians. “Petrobras has US$224 conversion/upgrading project billion to invest by 2014. When deployed on location that Keppel has completed At the christening ceremony, You will have many more in 2010, P-57 will have for Brazil. Including P-57, President Lula shared an vessels, platforms, and will a production capacity of Keppel’s projects for Petrobras emotional recount on how need more yards. These 180,000 barrels of heavy will contribute substantially Angra clawed back its companies will make oil per day. Its capabilities to Brazil’s domestic oil shipbuilding heritage. more Singapore shipyards include compressing two production capacity. here, because we have million cubic metres of gas Addressing the crowd, to build platforms for per day, processing 300,000 Mr Choo added, “We have he said, “Angra do not other countries in need, barrels of liquids per day and been equipping our yards and be afraid… This is where to South America or to storing 1,600,000 barrels training our workers to take we first took the view other countries that do not of oil. on more sophisticated jobs that it was possible to have the same technology over the years, transferring build here, it was here we as our own.” Mr Choo Chiau Beng, expertise, technology and took the first seed that we Chairman of Keppel Offshore systems from our Singapore would recover the Brazilian “On P-57, over 60% was & Marine and Non-Resident yards to Brazil in the process. shipbuilding industry, and Brazilian content. The next Ambassador of Singapore now here we are seeing could be 70%, 80%... we to Brazil, said, “P-57 is a “As a result, our BrasFELS it… can think of a platform sterling example of how yard is today the most to be 100% Brazilian our integrated global yards comprehensive offshore “Metalworkers in Brazil, content. If you launch the make it possible for Keppel and marine facility in Latin we recovered 600,000 challenge, we can do it.” to help fulfil the desire America, and has been for local content, whilst able to help to meet Brazil’s accomplishing challenging, requirements for greater large-scale projects with local content.” keppelite quality and precision.

Keppelite I October 2010 30 Sustaining Growth

Specialised partner

Keppel Singmarine demonstrates its commitment to deliver to customers’ satisfaction with its latest completions, Greatship Manisha (left) and Seaways 16

O n c e a g a i n , K e p p e l “These successful vessel Keppel Singmarine was As for Seaways 16, it has Singmarine has demonstrated deliveries reinforce Keppel awarded a safety bonus of demonstrated excellent its commitment to meet the Singmarine’s ability to US$10,000. The first three performance by exceeding needs of customers with maintain high standards of MPSSVs, delivered earlier its contractual bollard pull the safe completions of safety and quality in our this year have started and speed during its sea trial two vessels. products and services. operations smoothly. performance.

The company has delivered “With a proven track T h e s e 9 4 - m e t re l o n g The 100-tonne bollard a Multi-Purpose Supply and record and expertise in the MPSSVs are each equipped pull vessel is equipped Support Vessel (MPSSV), design and construction of with two units of electrically- with dynamic positioning Greatship Manisha, and an specialised ships, we are driven 2600 KW Azimuth system, thrusters and control Anchor Handling Tug (AHT), well poised to support thrusters and three units of pitch propulsion system to Seaways 16, to Greatship Greatship and Seaways in 1,050 KW tunnel thrusters enhance its position keeping Global Offshore Services growing their modern fleet to achieve Dynamic and manoeuvrability. Pte. Ltd. (Greatship) and of sophisticated vessels.” Positioning II capability. Seaways International Pte They are capable of She performs terminal Ltd (Seaways) respectively. Greatship Manisha is the s u p p o r t i n g o f f s h o r e handling, anchor handling, fourth MPSSV delivered to exploration, production escort and fire fighting

Mr Hoe Eng Hock, ED of Greatship with a perfect and subsea construction duties. keppelite Keppel Singmarine, said, safety record, whereby activities.

Keppelite I October 2010 Sustaining Growth 31

Alpha invests in Korean prime office

Prime Grade A office, Seoul Square, in Korea augments AAMTF’s sterling portfolio of properties

Korea’s Seoul Square, has Grade A office space. building façade, Seoul Square the upper end of its targeted become the latest prime Substantially rebuilt, it features was recently presented the returns. property invested by Alpha generous column-free spaces First Place Architectural Investment Partners (AIP), with luxury finishings and Award 2010 by the City of The AAMTF’s sterling portfolio the wholly-owned real estate offers one of the largest office Seoul for its contribution to of properties includes the fund management arm floor plates in Seoul. the refinement of Seoul’s city redevelopment of Katong of Keppel Land, under its skyline. Mall and private residential US$1.2 billion Macro Trends Linked to the subway developments in Singapore’s Fund (AAMTF). station via underground Incepted in 2007, the AAMTF prime residential districts, a passageways, Seoul Square is a real estate fund focused serviced apartment portfolio AIP participated in a is home to esteemed tenants on prominent trends across and hotel in Hong Kong, structured investment including LG Electronics and Asia in markets including an airport hotel at South in Seoul Square with an Mercedes Benz. It is directly Singapore, Japan, Taiwan, Korea’s Incheon Airport, an investment consideration of opposite the Seoul Railway South Korea and Hong Kong, office building in Seoul’s US$120 million. Station, which will feature as well as the fast emerging Gangnam Business District, the city terminus for the markets of China, India and commercial buildings in The 23-storey office building new express train line from Vietnam. Tokyo’s Shibuya District, is located in the heart of Incheon Airport. and a serviced apartment the City Hall area and The Fund, which is managed cum retail development in has a total rentable area Featuring one of the world’s by AIP, has achieved a return Manesar, India. keppelite of 1,429,509 sf of prime largest LED displays on its of 18% per annum and is at

Keppelite I October 2010 32 Sustaining Growth

Hosting global dialogues

Keppel plays host to visitors and repair of offshore Muhsin Mohammad Al-Zikri, Chairman and CEO of Keppel from far and wide and drilling units and structures, member of the Majilis AS Integrated Engineering and provides platforms for sharing specialised vessels such as Shura and Deputy Chairman, Mr Augustine Tan, President of insights and experience on tugs and supply boats, and Constituent Committee (Singapore Residential) and respective fields. the provision of offshore of Riyadh Company for Head, Regional Investments supply and logistics base. Construction. (India & Middle East). Kazakhstan relations Saudi Arabian At hand to welcome the The delegation was given a Mr Karim Massimov, the alliances delegation at Keppel HQ presentation on the Group’s Prime Minister of Kazakhstan, New friendships were on 30 September were businesses with focus on deepened his appreciation of formed when a six-man Dr Lee Boon Yang, Chairman Keppel’s presence in the Keppel’s businesses while in delegation from Saudi of Keppel Corporation, Middle East, namely the Singapore on 13 October Arabia came to Singapore Mr Choo, Mr Teo Soon Hoe, sewage treatment works 2010. to visit various prominent Group Finance Director of and the domestic solid waste Singapore companies. The Keppel Corporation and management centre in Qatar Mr Choo Chiau Beng, CEO of visit was led by ENG. Abdul Mr Michael Chia, Deputy by KIE, the Al Mada Towers Keppel Corporation, hosted dinner for the Prime Minister and his delegation at OCBC Centre. He was accompanied by Mr Tong Chong Heong, CEO of Keppel Offshore & Marine(Keppel O&M) ,Mr Sit Peng Sang ,CFO of Keppel O&M and Mr Yick Ping Wong, General Director of Keppel Kazakhstan.

Located in the seaport city of Aktau on the north- eastern part of the Caspian Mr Choo Chiau Beng, CEO of Keppel Corporation (right) hosted a sumptuous dinner for Mr Karim Massimov, the Prime Minister of Kazakhstan Sea, Keppel Kazakhstan (centre) and his delegation was set up in April 2003 to participate in and contribute to the emerging offshore oil and gas industry in the Kazakh Sector of the Caspian Sea. It complements sister yard, Caspian Shipyard Company, in strengthening Keppel O&M’s presence in the Caspian Sea.

The yard’s principal activities include the design,

construction, conversion A meeting of minds – The Saudia Arabian delegation and Keppel Corporation’s senior management engaged in friendly dialogue

Keppelite I October 2010 Sustaining Growth 33

being developed by Keppel at Marina at Keppel Bay, on Keppel’s key businesses, Through presentations Land and the Nakilat-Keppel on 26 September. corporate governance and and dialogue sessions, the O&M yard in Qatar. After risk management as well delegation was acquainted the meeting, the delegates Suzhou ties as some of the challenges it with Keppel’s operations, toured Keppel Bay precinct Keppel’s relationship with has overcomed. corporate governance before enjoying lunch at the Suzhou began 16 years policies and practices in risk Marina at Keppel Bay. ago when Keppel led a Following the meeting, the management. consortium of Singapore delegation were taken on a Old friend from companies to develop the tour at Marina at Keppel Bay Thereafter, they toured the Tianjin Suzhou Industrial Park and they were introduced Keppel Seghers Tuas Waste- Mr Gou Lijun, Secretary (SIP). The Sino-Singapore to the array of world-class to-Energy Plant where they of the Tianjin Municipal landmark project has berthing facilities as well gained great insights into the Education and Health achieved significant success as the architecture and Company’s environmental Working Committee and and and growth over the landscaping on the private engineering business and former Director-General of past decade. five-hectare Keppel Island. learnt about its waste the Tianjin Binhai New Area management solutions. Administrative Committee, Recently, Mr Shen Lei, China North calls led a 11-man delegation Director of SIP State- On 20 October 2010, Dr Lee A major state-owned Chinese to Singapore in late owned Assets Supervision and Mr Choo, hosted a conglomerate, CNIGC’s September. and Administration Office 42-member delegation from main business is to supply (SASAC) led a 24-member the China North Industries products for the Chinese Two years ago, he had Suzhou delegation to Group Corporation (CNIGC) military. It also develops worked closely with Keppel S i n g a p o r e t o i n v i t e at the Reflections Show high technology civilian in the run-up to the launch companies to explore Gallery. use machinery, chemicals, of the Sino-Singapore further investments in construction machinery, Tianjin Eco-City project. and collaboration with The CNIGC delegation was in amongst other products. During his stay in Singapore, SIP. The delegation’s visit Singapore to attend a training CNIGC comprises more Dr Lee Boon Yang took on 12 October to Keppel programme facilitated by than 100 owned or holding the opportunity to catch Corporation was hosted by the National University of enterprises, companies and up with this old friend Mr Choo.They were briefed Singapore. research institutions. keppelite

Mr Shen Lei, Director of SIP SASAC(left) and his delegation were received by Mr Choo Chiau Dr Lee Boon Yang, Chairman of Keppel Corporation(left) and Mr Teo Soon Hoe, Group Beng, CEO of Keppel Corporation and were briefed on Keppel’s key businesses, corporate Finance Director of Keppel Corporation caught up with Mr Gou Lijun Secretary of the Tianjin governance and risk management Municipal Education and Health Working Committee over lunch in September

Keppelite I October 2010 34 Sustaining Growth

Double strikes Projects for the offshore wind industry at Keppel Offshore & Marine are well underway.

Keppel FELS’ CEO Mr Tong Chong Heong and Project Manager Adeline Chia with Workfox’s Celebrating the strike steel milestone of Global Tech 1 are the managements of Global Tech 1 Operations Director Mr Rainier Verhulst (seated), Mr George Brill, Project Manager (left) and Offshore Wind GmbH and Keppel Verolme Mr Diederik C de Boer, Director of Seafox 5 Limited

Marking the start of convert electricity generated The design was chosen by teams, we are very proud physical construction, both by the wind turbines for Workfox B.V, a member of to cut first steel. We look Global Tech 1, a Mobile delivery to Germany’s the Seafox Group, as the forward to this exciting joint Offshore Application Barge national power grid. It can basis for a new-generation journey from a great design (MOAB), and Seafox 5, a also provide permanent wind turbine installation towards a state-of-the-art Multi-Purpose Self-Elevating accommodation for up to vessel that can withstand self-propelled installation and Platform (MPSEP), achieved 32 personnel operating the harsh offshore environmental decommissioning jackup. their respective strike steel wind farm. conditions all year round in milestones on 29 September the North Sea. Seafox 5 will set new and 1 Oct 2010. By serving both energy standards in the wind as transmission and wind farm The vessel also meets the well as oil and gas industry, Keppel Verolme is building maintenance functions, the oil and gas regulations which makes it unique of its the transformer substation MOAB helps to enhance the and has flexibility to carry kind.” for Global Tech 1 Offshore operational reliability and out other oil and gas Wind GmbH (formerly efficiency of the Global Tech offshore work apart from Adeline Seah, Keppel FELS’ Wetfeet Offshore) and it will 1 Wind Farm, contributing wind turbine installation, project manager for Seafox 5, be deployed at the Global to a greener environment. such as decommissioning, added, “Both our teams Tech 1 Wind Farm in the a c c o m m o d a t i o n , w e l l share the common goal to German Exclusive Economic Meanwhile, the contruction maintenance, offshore upkeep high standards of Zone in the North Sea. of the KFELS MPSEP Seafox 5, support works and others. safety and quality as we designed by Keppel’s work hand in glove to deliver This self-erecting floating Research & Development Mr Rainier W. Verhulst, on time, within budget and

platform will host the arm, Offshore Technology Workfox’s Operations safely.” keppelite transformers and high voltage Development is progressing Director, said, “After nine switchgears to collect and smoothly at Keppel FELS. months of hard work by our

Keppelite I October 2010 Sustaining Growth 35

Launch of Casa Villa homes

Hot on the heels of the sell- Garden City, will be well- targeted to be operational through its subsidiary out success of its landed received by home buyers by early-2011. company PT Mitra Sindo homes, Alamanda I & II, and investors alike.” Sukses, a joint venture with Keppel Land has released Jakarta Garden City is local Indonesian developer a new collection of Construction for Casa Villa developed by Keppel Land, PT Modernland Realty. keppelite 92 premium villas and homes is ongoing and another 30 plots of scheduled for handover in bungalow land at Jakarta 2012. When completed, the Garden City, its integrated homes will be the largest in township development in Jakarta Garden City, with a Indonesia on 10 October land size of approximately 2010. 198 sm and a built-up area of 215 sm. Casa Villa is located in the premier Lantana Garden Meanwhile, the building of cluster of Jakarta Garden township facilities such as City where home owners the clubhouse, shopping would be able to enjoy the arcade and modern market comprehensive facilities are on track for completion within the township, such by the end of this year and as the clubhouse, shopping Jakarta Garden City is setting new benchmarks for township building excellence in Indonesia arcade, modern market and international institution Sekolah Global Mandiri.

Beyond form and function, each home is designed with living spaces that reflect style and elegance. These features include flexible room configurations, spacious interiors and superior finishings, an elegantly landscaped backyard, complimentary clubhouse membership and one year of free cable television subscription.

Mr Lim Seng Bin, President Director of PT Mitra Sindo Sukses, shared, “We are confident that quality homes such as Casa Villa, enhanced by our integrated lifestyle Roaring success – Mr Lim Seng Bin, President Director of PT Mitra Sindo Sukses, the developer of Jakarta Garden City, commemorates the concept within Jakarta launch of Casa Villa homes

Keppelite I October 2010 36 Sustaining Growth

Strengthening ties with Latin America

Keppel’s trade relations with strengthening economic strength and stature since of Brazil’s biggest FPSO P-48 Latin America started in the engagements between 2004. to the completion of three 1980s when it undertook Asia and Latin America. floating production units, of various vessel repair jobs He also spoke about the Showcasing Rio’s best which P-56 is currently being from Petrobras of Brazil. increasing number of free Keppel FELS Brasil participated 100% built in Brazil. This Since then, the Group trade agreements between in the Rio Oil & Gas Expo and has enabled the company has achieved tremendous the two regions and their Conference this year, the to secure the contract to milestones and established growth potential. most important tradeshow build Brazil’s first tension leg strong ties with the region of its kind in Latin America wellhead platform. and its people. Helmed by a set of which drew the attention of distinguished panelists, the the world’s energy industry. Keppel FELS Brasil was Through active participation forum addressed issues a m o n g s t s o m e 1 , 2 0 0 in forums and conferences, such as investment and Running for the 15th time, exhibitors which showcased the Group continues to partnership opportunities, the event held between products and services relating expand its network and as well as best business 13 and16 September 2010 to the oil and gas industry. understanding of Latin practices and strategies. This broke records and attracted These comprised global America. event was also well attended some 53,000 visitors from energy companies to the by key business leaders and 51 countries. This visitorship manufacturers of cranes to Bridging partnerships government officials from was 33% higher than the pumps and lifeboats. Where builders of businesses Latin America and Asia. last event in 2008. meet, traffic and trade – that Organised by the Brazilian is the platform – Latin Asia As the event’s Strategic Participating in the event for Institute of Oil, Gas and Business Forum 2010. Sponsor, the Keppel Group the fourth time, Keppel FELS Biofuels, the tradeshow takes hosted the lunch session Brasil took the opportunity place once every two years D u r i n g h i s o p e n i n g for the 300 participants. to showcase its milestone at Riocentro Convention address, Mr Lim Hng Kiang, Organised by International achievements in the past Center, in Rio de Janeiro, Singapore Minister for Trade Enterprise Singapore, the decade in Brazil. These the reputed oil capital of

and Industry, shared on the annual forum has grown in range from the conversion Brazil. keppelite

Mr Hoe Eng Hock (extreme right), ED of Keppel Singmarine, networking with participants at Reeling in visitors at the Rio Oil & Gas Expo and Conference was Keppel FELS Brasil’s show Latin Asia Business Forum 2010 booth, exhibiting the latest projects being constructed in its BrasFELS yard

Keppelite I October 2010 Sustaining Growth 37

Safety onboard

To raise safety standards, Keppel’s Board Safety Committee (BSC) monitors and evaluates the Group’s health and safety policies regularly to ensure that they are effective and aligned with industry best practices.

From 20 to 27 September 2010, Mr Sven Ullring, Chairman of the BSC and Independent Director of Keppel Corporation, undertook safety walkabouts at various Group facilities a n d d e v e l o p m e n t s i n

Singapore and Vietnam. Mr Sven Ullring, Chairman of the BSC and Independent Director of Keppel Corporation (second from left) was briefed on the Keppel Safety Training Centre’s curriculum of safety processes and measures by Mr Abu Bakar, Senior GM (Operations) of Keppel Shipyard His visits included the worksites of Ocean Financial as The Estella construction of the Inter-Business of SsangYong Engineering Centre, Keppel Safety site in Ho Chi Min City. Unit Safety Committee, and Construction to glean Training Centre, Keppel Mr Ullring also met insights of their safety efforts

Shipyard’s Gul yard, as well Accompanied by members management and workers and experiences. keppelite

New CFO for K-REIT Asia

K-REIT Asia Management She has also been involved contribute to K-REIT Asia’s (KRAM) has appointed in numerous corporate growth and strengthen our Ms Eve Chan as its CFO exercises such as mergers, position as a pan-Asian with effect from 15 October acquisition and divestment REIT.” 2010. exercises, Public Offering launches, as well as the Ms Chan holds a Bachelor of Ms Chan, 40, has more organisation and structuring Accountancy from Nanyang than 18 years of experience of several private equity real Technological University of in group finance, tax, estate funds and real estate Singapore. She is a Certified accounting, corporate investment trusts. Public Accountant (CPA) finance and treasury, and has with the Institute of Certified held various senior finance Ms Ng Hsueh Ling, CEO Public Accountants of roles with portfolios that of KRAM, said, “Eve’s Singapore as well as a CPA

span the Asia Pacific and experience and in-depth Australia. keppelite Ms Eve Chan joins K-REIT Asia as CFO Middle East regions. financial expertise will

Keppelite I October 2010 38 Sustaining Growth

Business forums

Mr Choo Chiau Beng, CEO of Keppel Corporation (centre), was part of a distinguished panel that spoke on connecting Russia and Singapore

Political leaders and business RSBF is the only business- relationship between Russia of Asia and the relevance elites shared insights on to-business platform linking and Singapore, as it will of ASEAN through a high the trade relations between Russian political and business strengthen bilateral economic profile panel of speakers. Russia and Singapore, as elites with Singapore and the relations and further promote well as ASEAN’s economic rest of Asia. investment flow between the Delivering the keynote conditions, at two separate two countries. address was Mr Zainul Abidin business forums. These Keppel Corporation was a Rasheed, Senior Minister of events provided fertile ground sponsor of the event that Addressing ASEAN’s State for Foreign Affairs. He for lively exchanges of best saw the attendance of many future shared, “The financial crisis practices and collaborative political luminaries including On 6 October 2010, the third has brought about a new efforts. Singapore’s Minister Mentor ASEAN and Asia Forum was reality of the markets. Lee Kuan Yew and Senior held in Singapore to facilitate Connecting with Minister Goh Chok Tong. the sharing of insights and “While we see a gradual shift Russia critical perspectives on the in the centre of gravity in Against the backdrop of Mr Choo Chiau Beng, CEO region’s economic and the global economy towards increasing trade between of Keppel Corporation, was political conditions, and also Asia, we have to continue to Russia and Singapore, the part of the panel discussion to address new challenges work harder on long term fourth Russia-Singapore on “Connecting Russia and ahead for the people of goals to attract investment Business Forum (RSBF) was Singapore.” ASEAN and Asia. into Asia while keeping in held from 26 to 29 September mind that markets can turn at 2010. From 2007 to 2009, He remarked that the In support of the event, any point through contagion bilateral trade between Investment Promotion and Keppel Offshore & Marine from risks elsewhere. We Russia and Singapore Protection Agreement signed was a key sponsor. The event must be ever prepared to more than doubled from on 27 September was an serves as a key platform for deal with the challenges.”

$1.9 billion to $4.0 billion. important step in the growing the discussion of the role keppelite

Keppelite I October 2010 Sustaining Growth 39

Insights into waste treatment

Some 13 grassroot leaders of Keppel Integrated from Singapore’s Jurong Engineering, the visitors Group Representation were briefed on Keppel’s Constituency (GRC) called offerings in waste and on Keppel Seghers Tuas wastewater treatment and Mr Alvin Yeo, Independent Director of Keppel Corporation (right), receiving the Singapore Corporate Governance Award from Ms Teo Swee Lian, Deputy MD (Financial Supervision) Waste-to-Energy (WTE) Plant also took the opportunity to of the Monetary Association of Singapore on 2 October 2010. tour the plant facilities for a deeper understanding of the L e d b y M r T h a r m a n various components involved Shanmugaratnam, Minister in waste incineration. Excellence for Finance and Member of Parliament for Jurong The Keppel Seghers Tuas GRC, the participants WTE Plant is Singapore’s in corporate gained an overview of the first incineration plant to waste incineration process be built under the Public- governance and how it contributes to Private Partnership initiative sustainable development, as and has the capacity to treat well as impacts the lives of 800 tonnes of solid waste a Keppel was once again has won an award for the Singaporeans. day to generate more than recognised for corporate mentioned category. 20 MW of green energy, governance excellence Accompanied by Mr Tong contributing to Singapore’s and transparency at the Mr Alvin Yeo, Independent

Chong Heong, Chairman electricity supply. keppelite 11th Securities Investors D i r e c t o r o f K e p p e l Association Singapore Corporation, received (SIAS) Investors’ Choice the award on behalf of Awards 2010. Keppel Corporation while Mr Choo Chin Teck, Director, Held at the Raffles City Corporate Services of Keppel Convention Centre on Land, represented Keppel 5 October 2010, the event Land to accept the award. was part of Singapore’s inaugural Corporate In his acceptance remarks, G o v e r n a n c e W e e k Mr Alvin Yeo shared, “At launched by SIAS. Keppel, we believe that excellence in corporate Keppel Corporation came governance is essential in in second for the Singapore enhancing shareholder value Corporate Governance and achieving sustainable Award while Keppel Land growth for the Group. Both was runner-up for the Most the Board and Management Transparent Company in are committed in our the Properties category. efforts to act in the best This is the 11th consecutive interest of the company and Mr Tong Chong Heong, Chairman of KIE (first from right), giving Mr Tharman Shanmugaratnam, Minister for Finance and Member of Parliament for Jurong GRC (centre), a time that Keppel Land shareholders at all times.” summary of the intricacies of the waste incineration process keppelite

Keppelite I October 2010 40 Sustaining Growth

Double bill at Lloyd’s List Awards

Keppel Offshore & Marine (Keppel O&M) had twice the reason to celebrate on 7 October 2010.

Two of its business units, Keppel Shipyard and Keppel FELS, were lauded the Best Shipyard of the Year

Award and Achievement in Keppel Shipyard and Keppel FELS won the Best Shipyard of the Year Award and Achievement in Safety Award respectively at the 12 Lloyd’s List Safety Award respectively Asia Awards 2010 at the 12th Lloyd’s List Asia Awards 2010. This o f s t r o n g e x e c u t i o n Lloyd’s List. It is an affirmation In support of the industry, is also Keppel Shipyard’s capabilities, versatility, of the Can Do! spirit of Keppel O&M sponsored the sixth consecutive win of the innovation and safety to our people and winning Tanker Owner Award which award since 2005. deliver value-added solutions partnerships we have actively was presented by Mr Hoe to our customers. cultivated with customers Eng Hock, ED of Keppel Mr Tong Chong Heong, CEO and vendors. At Keppel, Singmarine, to BW Maritime.

of Keppel O&M said, “Keppel “ W e a p p r e c i a t e t h e we thrive on being able to keppelite O&M’s global reputation is r e c o g n i t i o n o f t h e deliver our projects safely, on built on a vital combination prestigious awards from time and within budget.”

Leg doctors

Keppel FELS’ Flying Squad Oritsetimeyin, thousands Kong Peng had set off just a in an excellent completion of has done the company proud of miles away in Calabar, day after receiving the call, the project which I strongly again. Nigeria, the offshore repair and flew off on Singapore’s believe only Keppel FELS team was aptly dubbed ‘leg National Day on 9 August. has the skills and expertise For their swift and effective doctors’. Additional 11 men set off just to take on. This really proves response to repair the legs days after as reinforcement. that Seawolf has made a of the jackup rig, Seawolf A 17-men team led by Sim right choice engaging Keppel Mr Dale Graham, Seawolf’s rig FELS for this project.” manager, said, “I would like to express my appreciation Mr Tong Chong Heong, CEO and thanks to the Keppel of Keppel Offshore & Marine, FELS crew under the lead commended the Flying of Sim Kong Peng for their Squad for a job well done. He excellent performance in was in praise of Kong Peng the repairs to the damaged for demonstrating strong leg braces. leadership and the team for reinforcing Keppel FELS’ “Their knowledge and reputation as the expert in Keppel FELS’ Flying Squad was commended by Seawolf for answering an urgent call for help expertise were instrumental jackup legs. keppelite swiftly and effectively

Keppelite I October 2010 Sustaining Growth 41

New benchmark to luxury living

Keppel Land has taken and the global showrooms cook up a storm, guided developments at Keppel luxury living to new heights of the world’s oldest watch b y p r e - p r o g r a m m e d Bay. with its latest collaboration manufacturers, Vacheron recipes on a motion censor with Saporiti Italia, one of Constantin in Switzerland, touchscreen computer “In enhancing the premier the most famous Italian has appointed six award- embedded in the kitchen’s and luxurious waterfront designers and manufacturers winning international bench top. They can also lifestyle experience, no of high-end furniture on designers to create unique entertain their friends with effort is spared to provide 13 October 2010. furniture pieces that will the kitchen’s built in dynamic the highest quality fittings, take centrestage at LED display lights. fixtures and features. The collaboration will see Reflections at Keppel Bay. Saporiti Italia furnish the Mr Augustine Tan, President “Saporiti, a luxury brand clubhouse and lobbies of Apart from the furniture (Singapore Residential) and celebrated worldwide for Reflections at Keppel Bay, pieces, the clubhouse at Head, Regional Investments its creative use of innovative which is designed by the Reflections at Keppel Bay (India & Middle East ), of materials and unique world-renowned master will also feature the world’s Keppel Land, said, “We manufacturing technologies, architect Daniel Libeskind. first interactive designer want to raise the benchmark will provide bespoke luxury kitchen, a creation by for luxury living and are to the selected amenities of Saporiti Italia, whose famous food designer committed to bring together Reflections at Keppel Bay.” illustrious portfolio includes Marti Guixé. the finest names and brands keppelite furnishing the United in the industry to lend their Nations office in Geneva Residents will be able to signature quality to our

The collaboration between Keppel Land and Saporiti Italia, one of the most famous Italian designers and manufacturers of high-end furniture, is set to raise the benchmark for luxury living at Keppel Bay

Keppelite I October 2010 42 Sustaining Growth

Golden formula

Marina at Keppel Bay was an intimate understanding of Vietnam, and also the start- importance of being involved once again selected to be the electrical and electronic up of a power plant in the in activities beyond work to the stage for an exclusive systems installed on rigs Suzhou Industrial Park. keep the mind constantly world-class lifestyle event being built in present times. rejuvenated. He elaborated on 24 September 2010. Reaching 70 this year, TK has His passion for life is even that maintaining a sound In conjunction with the been involved in a myriad of more evident when he talks mind and healthy body are Singapore Formula One (F1) work since he joined Keppel about his two beauties essential to be productive at

fever, Keppel Island Plaza at the age of 29. on wheels. TK shared the work. keppelite was transformed into an invitation-only pop-up party Starting out as an electrical named Red In My Head. engineer, TK was the first non-mechanical person to The event saw a high-profile be trained for a ship repair guest list of the entertainment manager role. A project he scene’s A-list crowd mingling recalls strongly is the repair with one another and moving of a Russian fleet of whaling to groovy tracks put on play vessels, which provided by popular DJ Top Billin from valuable lessons. Helsinki. On top of ship repair, TK Increasing the suspense was involved in the final factor, the party location construction phase of Sedona at the Marina was kept Residential Suites in Hanoi, Party goers revelled at an exclusive F1 event held at Marina at Keppel Bay under wraps until a few days before the date. On display at the outdoor soiree were three actual Ferrari F1 racing vehicles which drew countless admirers and sent the reading on the “cool” scale right through the roof that night.

Vintage wheels An enthusiast of vintage cars, Mr Seow Tiang Keng, Senior Manager (Electrical and Instrumentation) at Keppel FELS, was a proud participant at the Singapore F1 Drivers Parade on 26 September 2010, prior to the night race.

An industry veteran, TK, as he is fondly known as, has Testament that veterans can be active at work and play, TK Seow participated at the Singapore F1 Drivers parade

Keppelite I October 2010 Sustaining Growth 43

Treat among friends

Keppel FELS and its business partners turned up in costumes under the guise of ghosts, skeletons, witches, and devils for the Halloween-themed party

Trick or treat, it was an the strong turnout was a evening filled with much fun melting pot of warm ties and and laughter at the Keppel great merriment. FELS Sundowner held at the Singapore Night Safari on Not only did the event reflect 8 October 2010. Keppel FELS’ international customer base, it also More than 100 people, showed up the strength comprising customers, and familiarity of the partners and employees, relationships that Keppel g a m e l y t u r n e d u p i n FELS has established with its costumes under the guise partners. of ghosts, skeletons, witches, and devils for the Halloween- Organised regularly, the themed party. Sundowner is a great platform for Keppel FELS to From Brazilians to Vietnamese enhance customer relations and Americans to Danish, in lighter moments. keppelite

Keppelite I October 2010 44 Empowering Lives

Fair game Keppelites from across business units, levels and culture gathered once again to compete in the annual Keppel Games, which will be held over the course of two months.

Into its eighth year, the chosen by the judges after the fun at Kranji Sanctuary SMASHING TIME Games this year is convened much deliberation. Golf Course, bonding over Keppel’s best table tennis by Keppelite Recreation tee-offs and dinner as they players put up a tight fight Club for the first time, with As Keppel Games builds up on exchanged pointers on how in the Table Tennis Challenge support from volunteers of momentum, Keppelite shares to improve their swing or at Republic Polytechnic on various business units. The with you the excitement and where to get the best irons. 16 October 2010. All teams organising committee had challenges at the recent worked hard for almost two Golf, Table Tennis, Pool and months and got the ball Basketball events. rolling on 13 October 2010 at the Kranji Sanctuary Golf SWINGING INTO ACTION Course. Pacific snared the first challenge trophy in Golf by At the opening ceremony, sweeping six of the top 10 Mr Chee Jin Kiong, Director prizes, giving it a good start (Group Human Resources) in Keppel Games 2010 while of Keppel Corporation, Caspian’s Kamaruddin who shared his thoughts on was on top form that day, Keppel Games, “Keppel emerged winner of the Golf Games 2010 has been Challenge. redesigned to strengthen our

affiliation with this annual Over 90 Keppelites and Caspian team mates share victorious high-fives after winning the Table Tennis Challenge event. The aim is to foster business associates joined in trophy a stronger sense of identity for Keppelites and increase our ownership of the success of the Games. Keppel Games provides a platform that will bring interaction amongst Keppelites to another level and underscore the element of sportsmanship.”

On the same day, the winner of the Flag Design Competition was also announced. To team Caspian’s delight, their design of a runner on an uneven path best represented the theme Fly Our Keppel Flag High! was At the first event of the Keppel Games 2010, Mr Chor How Jat, GM (Operations) of Keppel FELS, making a calculated decision on the green

Keppelite I October 2010 empowering Lives 45

were equally good, making Alas, in a twist of event, as every point a deciding the white ball followed into factor to qualify for the next the pocket, it was Atlantic’s round. turn to cheer instead.

New blood was spotted at In the end, Atlantic the various events including dominated the pool scene by Teh Ming Ching who took bagging the first and second a shot at table tennis, not positions while Pacific settled knowing what to expect. for third. The four-month-old Keppel Singmarine employee had SHOOTING HOOPS no regrets. Stakes were high at the Basketball competition on With adrenaline coursing 24 October 2010 at Singapore through her veins, she said, Basketball Centre as the With focus and determination, Atlantic swept away the first and second prizes of the Pool tournament “It was a very memorable margin of points between and fun experience! When the teams began to narrow. I executed a move taught Everyone was all out to gain by Mr Hoe Eng Hock, as many points as they could Pacific’s in-house coach, he for their team. immediately leaped with joy and cheered, which inspired In the Men’s finals match, more confidence in me.” competition boiled down to Caspian and Pacific. After intense competition, Cohesiveness and rapport Pacific 1, the defending was Caspian’s success factor, champion repeated its victory while Pacific’s energy and once again. Despite the numerous three point shoots stressful situation, teams from kept the scores close. Fatigue Caspian managed to secure was beginning to show on the second and third places, the sportsmen’s faces but making Caspian the overall with grit and determination, champion for Table Tennis. Caspian once again took Basketball Challenge trophy ON CUE TO WIN home. On the following day at West Coast Recreation Centre, 12 With five more events to go, teams participated in the competition at the Keppel Nine-Ball Pool Challenge. Games 2010 is bound to get All eyes were on the semi- heated and players need to finals match, which saw two keep their spirits and energy Pacific teams taking on two levels high. The tide can Atlantic teams. Spectators change and shift in favour watched with bated breath of either team any time but as the ninth ball hit by what remains constant is the Pacific dropped into the spirit of camaraderie which pocket causing the team’s continues to shine brightly

supporters to erupt in cheers at the Games. keppelite

Competition heats up on the courts as players strive to rake in as many points as possible at immediately. the Basketball Challenge

Keppelite I October 2010 46 Empowering Lives

Keppelites Abroad Brazil for all ages

Keppel FELS Brasil’s At BrasFELS, the two are surroundings. Nonetheless, in Singapore, I am thankful BrasFELS yard is located in undertaking a range of duties their time in Brazil has been, for the opportunity to meet the unassuming town of that extend beyond their as the locals say, toda bom many wonderful people in Angra dos Reis, or ‘Bay of work scope in Singapore. (Portugese for “all good”) Brazil,” Betty shared. Kings’, which is part of an For instance, besides project and they have formed archipelago comprising 365 cost analysis work, Mok is friendship with the locals Meanwhile, despite the emerald islands. also involved in the and Keppel secondees. geographical distance, the negotiations process for some couple keeps in close touch Keppelite features two of the yard developments. “The Brazilians are very with their children and married couples who have approachable. They are grandchildren, who are spread embarked on their first Other than work challenges, always ready to smile and to across Singapore, Australia and overseas secondment at the couple also has to adjust make you smile. While I do New Zealand. The tech-savvy BrasFELS yard, where it to a different culture and new miss my friends and family family converses regularly presents them with various opportunities and challenges. Along with fulfilling careers, they are also building homes in this scenic natural landscape.

Adventure across seas Testament that adventure is not just for the young, Mok King Wee and Betty Mok, who have been Keppelites for almost four decades, broke out of their comfort zone to set up a new home in Brazil.

Betty, an Administrator, who takes care of secondees’ affairs and corporate communications, joined her husband Mok, Manager, in BrasFELS about four months ago. She mused, “My son jokes about how it is not just children who leave their nest, parents take flight too.” Betty Mok and Mok King Wee, venturing outside their comfort zone and to set up home in Brazil

Keppelite I October 2010 empowering Lives 47

through phone, Skype and not been insurmountable. better equipped to manage “My wife and I tried our follow one another’s blog and Roowei said, “After attending a diverse team.” hand at fishing. At our first Facebook updates. Portuguese classes arranged attempt, she managed a by the company, Lewis and “In addition, my experience larger catch than me,” Lewis Their advice to other I acquired a basic grasp at BrasFELS has provided me quipped. secondees on adapting to of the language. As we with a better understanding new roles and environment actively engage the locals in of how to facilitate Besides fishing, the couple is to have an open heart and Portuguese, we have become engineering work between also bond with each other curious mind. much more conversant as business units.” and fellow Keppelites over time goes by.” sporting activities such as Smooth transition On the couple’s home life swimming, gyming as well About a year ago, Lewis Liang Roowei, who is currently the in Brazil, Lewis, Manager as playing tennis and table and Teh Roowei flew halfway Project Engineer and Naval (Projects), shared, “It could tennis. round the globe to be part Architect for a Noble drillship be that we were not overly of BrasFELS. To the young project, heartily recommends attached to city life, hence H a v i n g f a m i l i a r i s e d couple’s pleasant surprise, that other Keppelites we adapted to Angra’s quiet themselves with the hustle the transition from their life venture forward to take up and serene lifestyle easily.” and bustle of Angra and the in Singapore to Brazil has opportunities for overseas wider Rio de Janeiro state, been much smoother than work assignment. She said, Living up to the adage “when the couple looks forward to they had expected. “Each work environment in Rome, do as the Romans explore the rest of Brazil and has its own unique set of do”, Lewis and Roowei Latin America in their free

While the language barrier challenges. Understanding have dived into recreational time. keppelite has caused the couple a these differences helps you activities that are popular few inconveniences, it has to be more adaptable and with the locals.

Transitioning from life in Singapore to Brazil has been much smoother than expected for the young married couple Teh Roowei and Lewis Liang

Keppelite I October 2010 48 Empowering Lives

Grooming leaders for the next wave

Bringing together talents from local and overseas business units, the fourth Keppel Global Young Leaders Programme (GYLP) saw 36 participants undergoing leadership development from 18 to 28 October 2010 in Singapore.

A collaboration between Keppel College and Nanyang Business School, GYLP aims to hone the leadership, strategic thinking and management skills of Keppelites in managerial positions. It is one of many executive development initiatives rolled out Group- wide by Keppel College.

The participants hailed from Participants of GYLP gained a deeper understanding of Keppel’s wide-ranging businesses during their tours at various facilities, which included different parts of the world, the Keppel Seghers Ulu Pandan NEWater Plant bearing testimony to the global footprint of Keppel. management, Mr Teo Soon sessions with management, helps us keep abreast of About 40 per cent of the Hoe, Senior ED and Group and workshops to further the developments in other current cohort comprised Finance Director of Keppel hone the young leaders’ business units, but also Keppelites based overseas Corporation, said, “At management skills. reinforces the Group’s in Brazil, China, Azerbaijan, Keppel, we should always perspective so that we the Netherlands, India, be learning and finding ways Leandro Nobrega Gullo, are more aware of the Norway, Bulgaria, Vietnam, to enrich ourselves with Production Supervisor from opportunities for synergy the Philippines, and the US. new knowledge. GLYP is an Keppel FELS Brazil’s BrasFELS among the various units.” excellent platform for young yard, said, “The workshops The selected group of managers to learn from one conducted by the professors At the end of the course, the Keppelites has an excellent another and stretch their from the Nanyang Business participants went beyond track record performance, capabilities.” School are very useful in just having an academic h i g h p o t e n t i a l a n d advancing our knowledge in exercise by presenting key demonstrated Keppel’s core O v e r t h e t w o - w e e k crucial leadership skills and recommendations based on values. Their kaleidoscope programme, participants enhancing key leadership assigned project topics to of backgrounds and work went through a series of competencies. Keppel senior management, cultures added to the dynamic activities comprising tours and ensuring what had been learning experience. and orientations that “The programme also learnt was applied in their

provided insights into the offers a strong platform presentations. keppelite During the networking Group’s various businesses for meaningful interaction breakfast with Keppel and operations, networking across Keppel. It not only

Keppelite I October 2010 empowering Lives 49

Connecting the dots Seeing Brazil in a new light, Lee Wan Jun from Keppel Group Corporate Communications shares her impressions of the country from a week-long work trip at Keppel FELS Brasil’s BrasFELS yard in Rio de Janeiro.

meet even more inspiring its capabilities in offshore challenges. and marine engineering and construction, and so As for the community, it augment its position to has seen greater prosperity serve the Latin American and progress as the yard and African market. continues to develop and grow over the years. Talent exposure and rotation is a channel through which During my walks down the these improved capabilities memory lane with a couple are being transferred to of BrasFELS’ old-timers, the rest of the Group. I was told of a time when At BrasFELS, overseas the community had little secondees are gathering employment opportunities. local intelligence from their The BrasFELS yard has not Brazilian colleagues as they only enabled the people to share their own experiences. Lee Wan Jun from Keppel Group Corporate Communications sees Brazil in a new light during provide for their families Strong friendships are also her one week-long work trip at Keppel FELS Brasil’s BrasFELS yard but also enriched the forged which bind both the locale by facilitating the inflow Keppel O&M community, Set amidst misty mountains During my overseas of global ideas, expertise, and Singapore and Brazil. and blue crystalline waters, assignment to coordinatefor technology and systems. the BrasFELS yard’s serene the naming ceremony of the Serendipitously, through surroundings belie the Floating Production Storage In turn, these national just one week in Brazil, I vibrancy of its operations. and Offloading (FPSO) P-57 and local conditions have was provided with a multi- vessel in BrasFELS, I saw the presented opportunities faceted education on The birthplace of several ripple effects of the yard’s and unleashed synergies for socio-economic dynamics, landmark projects, many vitality on a national and Keppel Offshore & Marine’s international business and of which are cutting-edge state level. (Keppel O&M) worldwide bilateral relations. Presented technologically and massive network of yards. with a myriad of opportunities in scale, BrasFELS has the At the naming ceremony, to see through other eyes, most substantial offshore President Luiz Inácio Lula da It is a symbiotic relationship – my mind finally connected credentials in Latin America. Silva hailed the economic the steady growth of Brazil’s the dots. With 8,000 workers, the and social significance of oil and gas industry leads to yard is abuzz every day Angra shipyard. the further demand for ship I am grateful that my work in with offshore and marine repair and conversion, as Keppel allows me to walk the engineering and construction With each successful well as rig and ship building grounds where it is happening works, as well as activities delivery, the yard helps services. so that when I return, I find and programmes to ensure to enhance Brazil’s that my perspective has sustainable operations reputation as an oil and gas Meanwhile, with more changed and I see the world such as skills training and p o w e r h o u s e w h i c h projects under its belt, in a whole new light. keppelite infrastructure upgrading. galvanises its people to BrasFELS continues to grow

Keppelite I October 2010 50 Empowering Lives

Growing in solidarity

As Brazil undergoes a Despite it being a holiday, the economic development Last year, BrasFELS launched significant chapter in its workers enthusiastically and success of Brazil.” the inaugural Trainee history from reform to participated in the yard- Engineers Scheme. Currently, meteoric, Keppel FELS Brasil’s wide Independence Day The workers’ continued about 50 engineers are BrasFELS yard in Angra dos Observance Ceremony. efforts have contributed to participating in the two-year Reis remains committed to Addressing the workers, the yard’s ability to complete programme. the local community. Mr KC Kwok, CEO of Keppel the conversion of Floating FELS Brasil, said, “Each and Production Storage and To provide them with a well- Its efforts in cultivating a every one at BrasFELS plays Offloading vessel P-57 on rounded understanding of strong and skilled workforce an important part in time, as well as to achieve the yard’s functions and to support Brazil’s growth c o n t r i b u t i n g t o t h e the marine mating milestone capabilities, they are exposed include ongoing training and revitalisation of the naval for Floating Production Unit to the various trades and development programmes. construction industry in P-56. sections within BrasFELS Brazil. through job rotation. Recently, the BrasFELS Much of BrasFELS’ success is yard commemorated the “Together, we share in the due to its continuous efforts The aim of this programme is nation’s growth on the same vision of helping Brazil in training its workers to to enhance their engineering joyous occasion of Brazil’s attain its goal of being in the take on more sophisticated expertise, spur innovation, Independence Day on league of net oil exporting jobs, transferring expertise, build key competencies and 7 September 2010, a countries. We will continue technology and systems from empower BrasFELS’ next national celebration since to work together as family Keppel’s Singapore yards generation of talents to 1822. at BrasFELS, contributing to over the years. take on leadership positions.

keppelite

BrasFELS yard’s continued focus on training and development will build up a competant and resilient workforce to bring the company into the future

Keppelite I October 2010 empowering Lives 51

Walking up the fun

(From top clockwise): Keppelites stepping out for bonding time with one another through a walk in the park; In lively spright, Group Finance Director Mr Teo Soon Hoe with daughter, Jasmine and son, Jonathan; CEO of Keppel Corporation Mr Choo Chiau Beng catches up with Keppelites at work and at play; He ain’t heavy, he’s my brother - enjoying WALK-n-FUN Day with baby in tow

More than 200 Keppelites off the forest walk and led the flora or simply enjoy it began to pour just as the from across the Group the stride up Telok Blangah being outdoors with their walk ended. turned up bright and early Hill, across the Alexandra families. at HortPark on Sunday of Arch and back. But come rain or shine, the 17 October 2010 to enjoy a Thoughtful items packed in spirit of Keppelites cannot WALK-n-FUN Day together. During the leisurely climb their goodie bags such as be dampened and for us, up the Southern Ridges, the fan and mosquito patch bonding can be a walk in the

Keppel Corporation CEO Keppelites stopped to catch came in handy and more park. keppelite Mr Choo Chiau Beng flagged the sight of birds, discover so, the rain poncho when

Keppelite I October 2010 52 Nurturing Communities

Pounding the road for charity

More than 160 participants Kuek, Permanent Secretary, Development) at Keppel two social service charities including Keppelites took part Ministry of the Environment Land. and a union. in the National Environment and Water Resources, who Agency (NEA)-MediaCorp also participated in the run. The Semakau Run raised This is one of the green Semakau Run 2010 on $370,000 and the proceeds initiatives taken by Keppel 2 October 2010. The Keppel BG (NS) Tay Lim Heng, will be channelled to seven to continuously spread the Group contributed $20,000 Deputy CEO of Keppel beneficiaries, which comprise message for environmental towards the event and has Integrated Engineering, said, four environmental non- c o n s c i o u s n e s s a n d

been a Platinum Sponsor “Keppel is supporting this government organisations, responsibility. keppelite since the inaugural run in event for the fourth year, 2007. and we are very pleased to be part of this effort Themed Caring for the to promote environmental Environment and Community consciousness and support this year, the event took place the less fortunate.” at Singapore’s first and only offshore landfill, Semakau Joining Mr Tay in the run Landfill. Operational since were Mr Thomas Pang, CEO 1999, Semakau Landfill of K-Green Trust, Ms Ng features sustainable waste Hsueh Ling, CEO of K-REIT management alongside a Asia Management, Ms vibrant ecosystem and rich Melissa Teh, GM (Finance biodiversity. and Administration) of Keppel Land, Mr Liew Yuen Flagging off the five-km Cheng, Asset Manager at competitive run was Guest- K-Green Trust, and Eugene Thumbs up for a good cause – representatives from across the Keppel Group beaming after of-Honour, LG (NS) Desmond Tan, Executive (Corporate the Semakau Run

LG (NS) Desmond Kuek, Permanent Secretary, Ministry of the Environment and Water Resources (on podium), flagging off the five-km competitive run

Keppelite I October 2010 Nurturing Communities 53

Four times the challenge

At the third SAFRA Keppel of both genders. Joyce Li, Quadthlon, Keppelites were from Keppel FELS’ Hull section part of 415 participants who was the only female in who got up at the crack of her team, said, “As the only dawn and gathered at East female in the team, I felt the Coast Park, Singapore, on pressure to perform well. 10 October 2010. Keppel Fortunately, I had the support continued its support as the of my team mates and we title sponsor of the event. have done well overall.” (Source from NCSS) Participants had to complete Mr Hoe Eng Hock, ED of Mr Tan Cheng Hui, Senior GM of Engineering at Keppel Singmarine, received the Pinnacle Award from President S. R. Nathan a total distance of 38.5 km Keppel Singmarine and across a variety of disciplines President of Keppelite including swimming, Recreation Club, shared, skating, cycling and running. “SAFRA Keppel Quadthlon Sharing charity Keppelites taking part in is a great platform to train the relay and individual mental resilience, promote categories displayed tenacity, healthy lifestyle and foster honours speed and endurance during ties among employees, and the race. these are important elements In support of the less a regular supporter of needed for greater work fortunate, Keppelites have community work and A Keppel team, KOM 6, came efficiency. As an advocator been pledging part of their we are honoured to be in fourth for the corporate of good work – life balance monthly income to charity on recognised for our efforts. relay, missing the chance to and healthy living, Keppel a regular basis. This culture Being an ardent associate clinch the third place medals is proud to sponsor the of sharing with the less of the SHARE programme by a mere 43 seconds. The Quadthlon for the third year privileged was recognised since 1984, we are very race required team members running.” keppelite by a string of awards from pleased to be a partner of the Community Chest on Community Chest as we 14 October 2010. believe in being responsible corporate citizens who In particular, Keppel make a difference to Singmarine won the Pinnacle society.” Award and SHARE Platinum Award. The Pinnacle Award Keppel FELS also won the is the highest charity honour, SHARE Platinum Award which acknowledges an while Keppel Logistics and organisation’s unwavering Keppel Shipyard received support and commitment to the SHARE Gold Awards. Community Chest. I n a d d i t i o n , K e p p e l Corporation was bestowed Mr Hoe Eng Hock, ED of the Corporate Gold Award Keppel Singmarine, shared, for its long involvement in Showing teamwork and tenacity are a team with members from Keppel Shipyard and “Keppel has always been charitable causes. keppelite Keppel Corporation

Keppelite I October 2010 54 Nurturing Communities

Wheels for causes Keppel Land contributed to environmental and disabled sporting initiatives recently.

Buggy good time Joining other eco-conscious companies, Keppel Land participated in a buggy race at The Float@Marina Bay on 19 September 2010 to help spread the green message. The race was part of the inaugural Singapore G1 event organised by the Singapore Environment Council, whose aim was to raise awareness of green technologies in transportation.

Mr Lim Kei Hin, CFO of Keppel Land and Ms Woon Pek Yong, Senior Manager, Investor Relations & Research of Keppel Land, were Witnessed by Guest-of-Honour Mdm Cynthia Phua, Member of Parliament for Aljunied Group Representation Constituency (left), Mr Choo co-captains of their buggy Chin Teck, Director of Corporate Services at Keppel Land (right), presented a cheque for $10,000 to Mr Foo Fung-liang, President of HAS at the Singapore G1, also known as the Green Grand disabled sport in Singapore. Prix. It encourages such persons to break out from their Sharing her experience, comfort zones, challenging M s Wo o n s a i d , “ T h e them to go beyond their Singapore G1 event is a good perceived limitations and reminder that all of us have cycle alongside able-bodied a part to play in ensuring families and friends. we leave a cleaner and more sustainable environment In support of the Handcycling for the next generation. It Association of Singapore’s is heartening to see like- (HAS) efforts, Keppel Land minded organisations come made a donation of $10,000 together to raise awareness w h i c h w a s p re s e n t e d for the environment.” by Mr Choo Chin Teck, Director of Corporate Hands up for Services at Keppel Land, to handcycling Mr Foo Fung-liang, President

Handcycling, an ideal sport for of HAS, at the Association’s Mr Lim Kei Hin,CFO of Keppel Land with his son in the race for a greener tomorrow persons who have limited use second Handcycling Time- of their legs or lower bodies, Trials/Sprint Race on

is fast becoming a popular 10 October 2010. keppelite

Keppelite I October 2010 Nurturing Communities 55 vKeppelolunteers Colouring the lives of children

Children’s Day took on more time taking part in the CFC are truly happy to be a part b y a p i n k d o l p h i n meaning for about 1,100 event. It is very heartwarming of this.” performance. underprivileged children this to see children reaching year, as they enjoyed the out to other children for a Gracing the event was The charity event raised a time of their lives at the good cause. The girls from Mr Lui Tuck Yew, Acting total of $282,050, which saw Underwater World Singapore CHIJ (Kellock) have put up a Minister for Information, Keppel Corporation donating (UWS). They were invited to great performance to bring C o m m u n i c a t i o n s a n d $10,000.The proceeds will be join in Children for Children joy to their underprivileged the Arts. On top of the channelled to The Business (CFC) 2010, organised by friends.” performance staged by the Times Budding Artists Fund The Business Times, CHIJ students from CHIJ (Kellock), and The Straits Times School

(Kellock) and The Arts Ms Wang Look Fung, the kids were also thrilled Pocket Money Fund. keppelite House. GM of Group Corporate Communications, Keppel Doing their bit for this Corporation, shared, “This good cause were 12 Keppel is an excellent platform to Volunteers who helped out at encourage and cultivate the this event, themed ‘Castaway, spirit of sharing among the Island Adventures’, where the young in Singapore. It helps children were encouraged to children from comfortable be ‘sea explorers’ in search homes realise how blessed of new lands. Students from they are to be a blessing CHIJ (Kellock) put up dance to those less privileged. and rhythmic performances CHIJ Kellock primary infused with underlying school students must be green messages, and craft commended for their efforts. activities such as the making Keppel and its volunteers Marvelling at the wonders of the underwater world of badges, pegs and magnets were also set up.

The Keppel Volunteers assisted by chaperoning the children where they were introduced to some 250 different species of marine life , ranging from the shallow turtle and ray touch pools, to the 83-metre long tunnel of the oceanarium.

Xu Youqing, Electrical Engineer from Keppel Energy, said “This is my first Children learning about the art of making recycled paper during the CFC 2010 event

Keppelite I October 2010 BackPage 56

Keppel Seghers secures $341 million contract in the UK

K e p p e l I n t e g r a t e d Mr Michael Chia, Deputy derived from household plant will be one of the Engineering (KIE), through Chairman and CEO of KIE, waste. Keppel Seghers will largest and most efficient Keppel Seghers, has won an said, “We are very happy provide proprietary EFW in Europe…Construction of Engineering, Procurement to deepen our partnership technology to Runcorn II and Phase II will be co-ordinated and Construction (EPC) with Viridor through the build it. with ongoing work on Phase contract worth around construction of Runcorn II I which permits significant € 187.3 million1 as it affirms the strength The combined Runcorn I and cost savings. It will enable (approximately $341 million), and reliability of Keppel II plant will be one of the Phase II to come on stream for the second phase of an Seghers’ waste management largest waste and renewable by 2014/2015 by which Energy-From-Waste (EFW) t e c h n o l o g y a n d E P C energy projects in the UK time large scale energy from project in the UK. capabilities. As we are upon completion, with total waste facilities will be cost already executing Runcorn capacity to treat 750,000 competitive against landfill This contract, Runcorn II, I, we will be able to tap tonnes of waste per year. with landfill tax by then was awarded by Viridor into existing resources and Running at full capacity, the being £80 per tonne.” EFW (Runcorn) Limited, synergise efforts to deliver plant will generate 70 MW a special purpose vehicle value through effective of electricity and 51 MW Runcorn I, which is owned (SPV) owned by Viridor solutions for our clients.” of heat. Viridor will supply by Viridor, John Laing plc and Waste Management Limited the waste through a waste INEOS Chlor, broke ground (Viridor). Runcorn II will be Runcorn II, which is expected supply agreement with the in Greater Manchester on

part of an earlier project to be completed by 2014 or SPV. 26 August 2010. keppelite currently executed by Keppel 2015, will have the capacity Seghers, named Runcorn I or to treat an additional Mr Colin Drummond, Chief the Greater Manchester EFW 375,000 tonnes of solid Executive of Viridor, said, 1 Contract value is split into GBP 85.6 million and EUR 83.3 million Project. recovered fuel per year “The combined Runcorn

The combined Runcorn I and II plant will be one of the largest waste and renewable energy projects in the UK upon completion, with total capacity to treat 750,000 tonnes of waste per year Printed on recycled paper Printed on recycled

Keppelite I October 2010