eKeppelite 2011 Dec

MICA (P) 072/01/2011

eppel

Keppel Group Newsletter

DeCeMber 2011www.kepcorp.com/ekeppelite

KeppeliteSetting clear

examples 6

Strong growth track

in 2011 22

Touching lives 44

excellent execution

Keppelite I December 2011

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 AdvisorWang Look Fung

EditorLee Wan Jun

Editorial CommitteeAng Lai Lee, Casiopia Low, Chan Suan Sim, Christie Lai, Doreen Lim, Chua Ying Ying, Diana Chan, Donald Sng, Eileen Tan, Elena Ong, Elizabeth Widjaja, Eva Ho, Frances Teh, Grace Chia, Hoo Yao Lin, Joycelyn Tay, Lim Kah Ai, Maria Magdalena, Mohamed Yusof Mohamed, Ong Tze Haung, Roy Tan, Serena Toh, Sue Ann Huang, Teri Liew, Wong Chai Yueh, Woon Pek Yong, Vett Ramos, Yeo Wan Xin, Yolanda Guo

Contents

CO REG NO: 196800351N

eppel

SUSTAINING GROWTHSeizing market opportunities 4

Six in a row for Ensco 5

Setting clear examples 6

Restored to mint condition 7

First anchor tenant at 8 Chifley Square 10

Strategic moves 11

Winning developments

Jewel of the East 12

Clean energy project on track

Foreign exchange 13

Showcasing exemplary practices 14

Mentoring leaders 15

Sharing on project risk management

Securing our business 16

Sterling partnerships 17

Inspiring every moment

Vietnamese vitality 18

Garden of life 19

A toast to friends 20

New feather in cap 21

SpeCIAl FOCUSContinuing strong growth track in 2011 22

34

7

eMpOWeRING lIVeSAppreciation all around 30

At home in Singapore 33

Clash of the titans 34

Rewarding outreach 36

Working out for better well-being

Keppelites AbroadShanghai school of hard knocks 37

Bridge over troubled waters 38

Homeward bound 39

Team Keppel 40

Doing our share 41

Walking our talk

NURTURING COMMUNITIeSKeys to a better life 42

Window to the world 43

Touching lives 44

Keppel VolunteersSeason of giving 45

Hello to a greener 2012 46

BACK pAGeKeppel secures US$809 millioncontract for new DSS™ 38E rig 48

30

Cover image: Celebrating the success of ENSCO 8505 onboard the rig’s drilling control room are (left to right) Mr Tong Chong Heong, CEO of Keppel Offshore & Marine; Mr Choo Chiau Beng, CEO of Keppel Corporation and Chairman of Keppel Offshore & Marine; Guest-of-Honour, Mrs Josephine Teo, Minister of State for Transport and Finance; and Dr Lee Boon Yang, Chairman of Keppel Corporation


editorial


Leading through learning

We can all take an important lesson from

some of the world’s greatest leaders. They lead

by learning.

Wal-Mart founder Sam Walton, a good role model,

is well-known for his passion for fresh ideas and

insatiable appetite for learning.

In his relentless pursuit for knowledge, the

entrepreneur read voraciously, spent time in

competitors’ stores, constantly asked questions of

his peers, listened to his employees and invented

creative ways to foster an ideas-driven culture.

The crux is that even at the peak of his success,

Walton saw himself not as a definitive expert in

the retail business but as a lifelong student of his

craft.

Like Walton, Keppel CEO Choo Chiau Beng

too is an avid learner, ravenous for insights

and the expansion of an awareness of the

environment. Learning, a transformational and

developmental process by nature, shapes and

sharpens perspectives.

In a highly competitive global marketplace ridden

by complex geopolitical, environmental and

economic challenges, the crucial link between

lifelong learning and the development of strong

leadership has become critical to organisations.

At Keppel, learning starts from within. Learning

from our leaders is a part of succession planning.

Avenues for open dialogues with senior

management enable Keppelites to tap on

the expertise and experience of leaders in the

organisation.

The sharing by our leaders also lends inspiration,

helps unleash potential in the talent pool and

encourages the development of a learning

organisation.

To further foster this culture, the Leadership Series,

a monthly knowledge-sharing programme, was

spearheaded by the Keppel Young Leaders. The

Series provides Keppelites with the platform to

engage in frank and insightful discussions with

seniors who share rich and diverse experiences

from across the Group.

For Keppel to remain a dynamic and robust

organisation, Keppelites must learn multi-

dimensionally and with an open mind, seize every

opportunity to absorb lessons not only from our

leaders but also from our peers, customers and

even our competitors. By learning quickly and

constantly, we are better able to adapt, reflect and

lead others on diverse fronts onto new phases of

growth.

Though engaging our talents optimally within and

across our businesses, Keppel will groom leaders to

drive sustainable growth into the future.

4 Sustaining Growth


4 Sustaining Growth

Securus Data Property Fund (Securus Fund) has formed a joint venture company ( J V C o ) w i t h K e p p e l Te lecommunicat ions & Transportation’s (Keppel T&T) wholly-owned subsidiary to own, manage and operate a data centre in Gore Hill, Sydney, Australia.

T h e J V C o , S e c u r u s Guernsey 2, will be 70% he ld by Securus Fund and 30% indirectly held by Keppel T&T through its wholly-owned subsidiary. The JV Co has entered into a conditional agreement to purchase the data centre for a cons iderat ion of AUD60 million.

Located in the Gore Hill technology precinct in Sydney, the new purpose-built Tier III data centre is a freehold A-Grade asset that has recently achieved practical completion.

A portion of the data centre has already been fitted out to serve a long-term lease with a blue chip anchor tenant. The remaining data centre space will be fitted out in stages to Tier III standards so as to offer premium co-location services to other blue chip clients.

M r J o n a t h a n K i n g , Co-Fund Manager of Securus Fund, said, “This is Securus Fund’s second acquisition

Seizing market opportunities

in Australia this year, after the acquisition of the iseek Data Centre in Brisbane Export Park in July, and is in line with our strategy of acquiring high quality data centre assets across our target markets.

“The Gore Hill asset has all the physical attributes of a first-class data centre, by virtue of its strategic location and power availability. This opportunity will further enhance our market position and allow us to capitalise on the growth opportunities in the fast growing data centre sector.”

Mr Pang Hee Hon, CEO of Keppel T&T, said, “Australia is one of the leading data centre hubs in the Asia Pacific

region, and the market is experiencing strong demand for data centres. Therefore, acquiring the Gore Hil l data centre will allow us to quickly meet the fast growing demand of the market in Australia, and build up Keppel’s capability and track record in the Asia Pacific region.”

The data centre is strategically located about six kilometres from Sydney’s central business district. As it is located along one of Sydney’s main power and data arteries, the data centre is supported by a large and secure electrical supply allowing it to service customers with high energy requirements. Furthermore, the data centre has access to multiple carrier networks

The new purpose-built Tier III data centre at Gore Hill is a freehold A-Grade asset

and has high fibre optic connectivity, making it ideal for offering prime data co-location services.

Earlier in July 2011, Securus Fund also acquired 70% of i seek Data Centre , located at Brisbane Export Park, Australia, from iseek Communications.

Securus Fund is the world’s f i rst Shariah compliant data centre fund and is jointly managed by Keppel Data Centre Investment Management, a wholly-owned subsidiary of Keppel T&T, and AEP Investment Management . Securus Fund is also 30% owned by Keppel T&T’s wholly-owned subsidiary, Keppel Data Centres. keppelite


Sustaining Growth 5

Keppel FELS is on course to deliver ENSCO 8505, its sixth of seven ENSCO 8500 Series® ultra-deepwater semisubmersible drilling rigs for Ensco, safely, on time and within budget.

The project is expected to be completed in the first quarter of 2012, and has a strong safety record of zero lost-time incidents in over five million man-hours. Upon completion, ENSCO 8505 will be deployed by Anadarko, Apache and Noble Energy fo r opera t ions in the Gulf of Mexico.

Six in a row for ensco Singapore’s Minister of State for Transport and Finance, Mrs Josephine Teo was the guest-of-honour at the naming ceremony of ENSCO 8505. The rig w a s n a m e d b y L a d y Sponsor, Mrs Roxanne Rabun, at Keppel FELS on 10 December 2011.

Min is ter Teo sa id , “ In addition to the ability to offer customised solutions, our shipyards have long e s t a b l i s h e d a s t ro n g reputation for quality and timeliness. Keppel FELS’ achievement today has

done Singapore proud and bears testament to their capabilities and reputation as a leader in their field.”

Designed to address some of the most demanding offshore drilling requirements at water depths up to 8,500 feet, ENSCO 8505 features a two million pound quad derrick, offline pipe handling capability, 35,000 feet drilling capacity and 8,000 tonnes of variable deck load.

Ensco currently has four add i t i ona l r i g s unde r construction at Keppel FELS. They are ENSCO 8506, the final and seventh ENSCO 8500 Series® semisubmersible rig Keppel FELS is constructing for Ensco, and three KFELS Super A Class jackup rigs with deliveries scheduled in 2013 and 2014.

Mr Tong Chong Heong, CEO of Keppel Offshore & Marine, shared, “Ensco has been a long-term customer

ENSCO 8505 is the 15th rig Keppel FELS will be delivering to Ensco with trademark quality and timeliness

Keppel and Ensco donate $20,000 to the Institute of Technical Education for an endowment fund that will provide financial assistance to needy and underprivileged students

and we are proud that they have entrusted Keppel with 19 major newbuild projects worth nearly US$4.8 billion in total over the years. ENSCO 8505 is the 15th rig that we will be delivering with our hallmark of quality and timeliness. Being able to deliver six ENSCO 8500 Series® rigs within 42 months and with the seventh due next year is testament to the excellent execution capabilities and productivity gains we have developed with Ensco.

“Our close collaboration i n c l u d e s c u s t o m i s i n g products to fit the market and we are glad that the ultra-premium harsh environment KFELS Super A Class rigs we are building for Ensco have received market acceptance with the recent contracting of ENSCO 120. We are committed to delivering these high-specification rigs to the highest satisfaction of Ensco.” keppelite

6 Sustaining Growth


W ith a h igh l e ve l o f corporate transparency and responsiveness, Keppel has been successfully engaging the investing public.

For the first time ever, Keppel Corporation and Keppel

Setting clear examplesLand have clinched the Best Investor Relations Award by Sector (Industrials) and the Grand Prix for Best Overall Investor Relations Award for a small or mid-capital company respectively at the IR Magazine Southeast

Keppel Corporation and Keppel Land were honoured at the IR Magazine Southeast Asia Conference and Awards 2011

Asia Conference and Awards 2011 held at the Singapore Exchange on 6 December 2011.

This annual event honours companies and individuals from across the region for excellence in communicating with investors and analysts, and the results are based on a survey of investors and analysts.

E x p l a i n i n g K e p p e l Corporat ion’s investor relations philosophy, Ms Wang Look Fung, Director of Group Corporate Affairs said, “Proactive, transparent and engaging are the three words that best describe our investor relations efforts.

With the support of senior management who play an integral role, we constantly seek to understand the issues that matter most to the investors and the public so that we are able to effectively address them.

“Investors appreciate the access to management’s insights and views through the quarterly results webcasts, non-deal roadshows and meetings facilitated. Senior management sometimes take time during our business trips overseas to meet investors, building understanding and relationship.”

For Keppel Land, persistence at communicat ing key messages to analysts, in reaching out to investors and in getting business units to share more pertinent information have reaped rewards for the Investor Relations and Research team of Keppel Land.

This past year, numerous analysts’ trips to Keppel Land’s project sites, both local and overseas such as in Tianjin and Chengdu, enabled them to see for themselves the locations and features of the different developments. Similarly, s e n i o r m a n a g e m e n t ’s involvement in non-deal roadshows and conferences were key factors in clinching their win. keppelite

Proactive, transparent and engaging are the three words that best describe our investor relations efforts. With the support of senior management who play an integral role, we constantly seek to understand the issues that matter most to the investors and the public so that we are able to effectively address them.Ms Wang Look FungDirector,Group Corporate Affairs


Sustaining Growth 7

Be it in Singapore, Brazil, the Netherlands or in the middle of the ocean, Keppel Offshore & Marine is committed to deliver timely and quality repair and upgrade services to the satisfaction of its customers.

RIGGed Up AT Keppel FelSAmidst a record number of newbuildings on its plate, Keppel FELS continues to make good progress on its repair projects. Its repair, refurbishment and upgrade projects in the year include work on the drillship Noble Roge r Ea son and the semisubmersibles Jack Bates, Nanhai 6 and Kan Tan IV.

Work on Noble Roger Eason has been carried out across Keppel FELS in Singapore and BrasFELS in Brazil. The vessel is being lengthened

restored to mint condition

by cutting the ship in half and inserting a stern block at the aft of the cut vessel. Fabrication of the new stern block was recently completed in Singapore with a record of more than 1.5 million safe man-hours.

Johnny Ng, Project Manager a t K e p p e l F E L S s a i d , “Leveraging the synergy of our global yards, we are able to undertake the fast track completion of this drillship. By constructing and commissioning the new stern block prior to the arrival of the drillship, we significantly reduced the overall repair and upgrading schedule.”

Noble Roger Eason is the second Noble Corporation drillship to undergo this process at Keppel yards. Work on the first, Noble

Reflecting the strong teamwork between Keppel’s global network of yards, work on Noble Roger Eason is carried out across Keppel FELS in Singapore and BrasFELS in Brazil

The Keppel team has again delivered high quality construction, outfitting, painting and commissioning. The decision to build the stern modules for the Noble Leo Segerius and the Noble roger eason in Singapore has worked well with the overall project schedule. I am confident the future between Keppel and Noble is bright.Mr David WilliamsChairmanCEO & President of Noble Corporation

Continues on page 8...

8 Sustaining Growth


Leo Segerius, was recently completed in Brazil.

Jack Bates, a 25 year-old semisubmersible rig, completed a f i ve -year special periodic survey at Keppel FELS from June to November 2011. The yard carried out hull and tank painting, accommodation refurbishment as well as anchor winch and fairlead overhauls. Various electrical systems were upgraded and both lifeboat platforms were replaced.

Returned to Transocean on 14 November 201, the project had a safety record of zero lost-time incidents in some 840,000 man-hours worked.

K e p p e l F E L S f u r t h e r strengthened its partnership with Chinese rig owners with the successful repair of two of their semisubmersible rigs. Nanhai 6, which is operated by Maersk Drilling for China

Oilfield Services Limited was in the yard for periodic repairs and delivered on time and without incidents.

The other semisubmersible rig, Kan Tan IV, was first built by Keppel FELS in 1983 and has returned for maintenance and a special periodic survey. Belonging to Sinopec Star Petroleum and currently operated by Frigstad Offshore, the rig is undergoing painting works on the columns, bracings, main deck, superstructure and derr ick mast . The other major works include the steel renewal, hul l ventilation, overhauling of anchor winches and piping works. The rig is expected to depart the yard in March 2012.

QUAlITy FIx WITH THe FlyING SQUAdKeppel FELS’ Flying Squad takes Keppel’s renowned rig repair services beyond its yards.

Recently, a squad of some 33 offshore repair specialists responded to a call from Keppel’s repeat customer, SeaWolf Oil Services Limited, to conduct repairs on the legs of a jackup rig operating in Nigeria.

The Friede & Goldman Super M2 jackup rig, ONOME, had two of its legs stuck in the seabed. The legs had to be extricated before the rig could be towed to Nigeria’s port Calabar for inspection and repairs by the Flying Squad.

All three rig legs had been bent out of shape and more than 100 feet of bracings had to be repaired and replaced.

Leading the squad was Shao Hai Zhou, Senior Hull Superintendent at Keppel FELS. He said, “We were glad to be able to support Seawolf by completing the repairs safely and ahead of schedule. Our line of work sometimes requires us to travel to unfamiliar places, where we can only assess

Keppel Verolme renewed 44 tonnes of steel on the container vessel, CMA CGM Alaska

Repair on Jack Bates was completed safely and on time

...continued from page 7.


Sustaining Growth 9

Barging ahead with new capabilities

Converted from a mating barge into a f loating dock, FS-1 has proven its worth with several key pro jec t s a l ready completed on it. It is an important asset which has significantly extended the capabilities of BrasFELS, Keppel ’s Sh ipyard in Brazil, beyond its existing drydock facility.

FS-1’s maiden project was the docking of the drillship Noble Leo Segerius which had its stern section jumboised or extended in an upgrading programme. Fo l lowing that, FS-1 was again put to good use for the docking of its first semisubmersible drilling rig, ENSCO 6000, which was carried out on 26 October 2011.

T h e 2 2 , 0 0 0 - t o n n e docking capacity of the FS-1 easily accommodated ENSCO 6000 which had a total displacement of 11,114 tonnes during the docking operation, as well as a pontoon measuring 75 metres by 50.4 metres.

BrasFELS floating dock FS-1 takes on its first semisubmersible drilling rig, ENSCO 6000, on 26 October 2011

the work scope on arrival. Our experience and expertise as well as good teamwork with our customers are thus essential to us getting the job done successfully.”

Work on ONOME was completed in 66 days, 18 days ahead of schedule. In a letter to the Keppel team, Mr Vincent Okhomina, S e a w o l f ’s O f f s h o r e Installation Manager on ONOME commended them on a job well done and without incident.

The Flying Squad is presently on standby for the repair of SeaWolf’s Delta Queen, a Friede & Goldman L-780 jackup rig.

eMeRGeNCy ReSpONSe FROM Keppel VeROlMeThe 366-metre long container vessel CMA CGM Alaska, owned by ship operator Claus-Peter Offen, turned to Keppel Verolme for urgent repairs after a collision. The collision had left CMA CGM Alaska with an indentation and a large hole on her starboard side. As a result, water f looded into the ballast tank.

Keppel Verolme, in the Netherlands, quickly set to work on fixing the vessel. It renewed 44 tonnes of steel and applied a complete paint job, all within 16 days. The project was completed on 2 November 2011. keppelite

10 Sustaining Growth


K-REIT Asia has signed on the first anchor tenant for its 8 Chifley Square in Sydney.

Corrs Chambers Westgarth (Corrs) has pre-committed to about 87,000 square feet (sf) of premium office space for a 12-year term, which is about 40% of the total net lettable area (NLA) of the building.

This first lease comes ahead o f the deve lopment ’s completion, which is targeted to be in the third quarter of 2013. Corrs will occupy levels nine to 18 of the 30-storey building. The law firm currently has offices in Sydney, Melbourne, Brisbane and Perth.

Ms Ng Hsueh Ling, CEO of K-REIT Asia Management, s a i d , “ T h e s t r o n g pre-commitment level affirms our positive sentiments for the Australian office market. We ant ic ipate hea l thy demand for the remaining space as 8 Chifley Square a p p e a l s t o l e a d i n g corporations which value the building’s prime location and premium quality.”

Located in the heart of Sydney ’s CBD, a t the junction of Hunter Street and Elizabeth Street, 8 Chifley

First anchor tenant at 8 Chifley SquareLeading Australian law firm, Corrs Chambers Westgarth, to set up head office at K-reIT Asia’s 8 Chifley Square.

Square has an estimated 205,700 sf of NLA.

Corrs’ partner and CEO John W.H. Denton said, “We are proud and excited at the prospect of moving into this exceptional building, which is the first of its kind in Australia. The building’s architecture and design is forward thinking and we feel it matches the kind of firm we choose to be.”

8 Chifley Square is designed to achieve premium grade classification by the Property Council of Australia. It is looking to achieve a 6-Star Green Star rating by the Green Building Council Austra l ia and a 5-Star National Australian Built Environment Rating System (NABERS) energy rating, both the highest in their respective categories.

K-REIT Asia and Mirvac Property Trust, a member of the Mirvac Group, each own a 50% interest in the premium office tower.

As at 15 December 2011, K-REIT Asia has an asset size of approximately $6 billion, comprising eight quality commercial properties in Singapore and Australia. keppelite K-REIT Asia’s 8 Chifley Square signs on its first anchor tenant, ahead of its completion in the

third quarter of 2013


Sustaining Growth 11

than 10 years, will also be appointed as Head of Sedona operations in Myanmar to enable him to maximise the synergies of Keppel Land’s hospitality assets in Yangon and Mandalay.

Meanwhile, Mr Oh Lock Soon who has more than 26 years o f e x p e r i e n c e i n t h e construction and real estate industry, has been appointed as President (Thailand) of Keppel Land and will be based in Thailand.

In related moves, Mr Sam

Strategic movesKeppel Land has announced t w o n e w s t r a t e g i c appointments for its operations in Myanmar and Thailand.

Mr Saman Sarathchandra, formerly GM of Sedona Hotel Yangon, has been appointed as President (Myanmar) of Keppel Land and will be responsible for developing the company’s business in Myanmar, leveraging his many years of experience in the country.

Mr Saman, who has been with Keppel Land for more

Mr Saman Sarathchandra Mr Oh Lock Soon

Keppel Land received double accolades at the inaugural South East Asia Property Awards held on 30 November 2011. Its developments Ocean Financial Centre (OFC) won the Green Development

Winning developmentsAward (Southeast Asia) while The Estella clinched the Best Condo Development Award (Vietnam).

The Property Awards was launched by Ensign Media

Platinum dealKeppel Land has sold its approximately 87.5% shareholding in Ocean Properties, the owner of OFC, to K-REIT Asia for a period of 99 years. The transaction was completed on 14 December 2011. Keppel Land will realise a net gain of about $492.7 million through the sale. For K-RE IT As ia , the acquisition is Distribution Per Unit-accretive.

One of the largest and newest premium office buildings in the Raffles Place and Marina Bay p re c i n c t s , OFC i s a 43-storey premium Grade A office tower. Comprising 884,957 square feet of net lettable area, the development is already about 80% leased to establ ished corporate tenants.

Moon Thong will relinquish his Myanmar portfolio and be re-designated as President (Indonesia and Malaysia) while Mr Linson Lim will

re l inquish his Thai land portfolio and be re-designated as President (Vietnam and The Philippines). keppelite

Celebrating Keppel Land’s win at the South East Asia Property Awards ceremony are (from left) Annie Tan, Manager, Marketing, Paul Lau, Deputy GM, Projects, Sofie Lisby, Deputy Editor, Property Report magazine, Albert Foo, GM, Marketing, James Lim, Manager, Projects, and Steve Ang, Executive, Projects

to recognise the quality of the region’s real estate, construction, architecture,

interior design and industry professional services. keppelite



Keppel Prince Engineering’s work on the Macarthur wind farm in Victoria, Australia, is progressing on schedule. The company, an Australian s u b s i d i a r y o f K e p p e l Integrated Engineering, won an A$27 million contract from Vestas Towers A/S in 2010 to build 80 of the 140 towers and construct 140 foundation rings for the wind farm.

Massive 55-metre turbine blades were delivered to the wind farm in November

Clean energy project on track2011. When completed b y e a r l y 2 0 1 3 , t h e 420-megawatt wind farm is set to be the largest wind farm in the southern hemisphere, with each turbine having a generation capacity of three megawatts when assembled.

Keppel Prince Engineering is one of the largest employers in Portland, and has over 150 employees working on the Macarthur wind farm project. keppelite

Massive wind turbine blades arrive at the Macarthur wind farm in Victoria, Australia

Peranakan-themed upmarket mal l , 112 Katong has ushered downtown luxury

Jewel of the eastand lifestyle to the East of Singapore when it opened on 15 December 2011.

Alpha Investment Partners i s an inves to r o f the Perennial Katong Retail Trust, a private trust which owns 112 Katong.

Set in the junction of East Coast Road and Joo Chiat Road, the revamped building is designed to harmonise with the rich Peranakan heritage of the Katong area.

Peranakan-inspired motifs spanning the glass facade of 112 Katong are illuminated by LED lights, presenting a modern interpretation to Peranakan architecture and design.

The mall, with a total net lettable area of 207,000 sf, has achieved close to 100% occupancy. Anchor tenants include Market Place Gourmet Supermarket and Golden Village, which will have a Peranakan-themed multiplex.

With its variety of shopping, dining and entertainment options, 112 Katong will be treasured by the large residential population in Marine Parade, Katong and Joo Chiat. keppelite

A new premier lifestyle destination in Singapore’s East



Committed to sharing ideas and building its network, Keppel actively engages in national, industry and business conferences and forums.

CROSS-BORdeR COOpeRATIONKeppel Land participated in the Vietnam-Singapore Business Forum held from 30 November to 2 December 2011 in Hanoi.

Hosted by the Vietnam Chamber of Commerce and Industry and attended by some 300 government leaders, businesses, entrepreneurs and economists, the annual event aims to enhance cross-border business cooperation b e t w e e n S i n g a p o r e and Vietnam, faci l i tate the exchange of ideas, knowledge and experiences, as well as further cement business ties between the two countries.

Speaking at the forum on the topic of real estate and property management, M r D o a n A n h H u n g , DGM of Keppe l Land V i e t n a m , s h a re d t h e company’s strategy amidst the cu r rent economic outlook.

He said, “We take a long-term view on our investments and remain confident in the growth potential of Vietnam’s property market, supported

Foreign exchange

by its growing middle-class and rapid urbanisation.”

Keppel Land has been a partner for growth and development in Vietnam since early 1990s. To-date, Keppel Land has 17 projects in Vietnam with a pipeline of about 22,000 homes.

BlUe AGeNdAEarth is blue when viewed from space, as it is covered mostly in water. And yet, fresh and clean water to support human life is waning

due to a warming world. The issue of sustainable water management thus took centre stage at water conferences held across Europe in November this year.

At Aquatech held from 1 to 4 November in Amsterdam, a n d A q u a r a m a o n 16 November in Belgium, Keppel Seghers showcased its advanced water solutions t h a t a r e c a p a b l e o f mitigating water scarcity and managing water resources

for governments around the world.

Keppel Seghers’ water solutions cover the full water cycle, including wastewater treatment, process and drinking water, desalination and water reuse. Industry m e m b e r s t o o k k e e n interest in Keppel Seghers’ MEMST ILL ® membrane distillation technology, which was showcased at the events. keppelite

Keppel Seghers’ MEMSTILL® membrane distillation technology aroused industry interest at top European water conferences in November 2011



The Keppel Group warmly welcomes visitors from far and wide to learn about its operations and practices, showcas ing S ingapore and the Group’s strengths and capabi l i t ies across diverse sectors.

SAUdI STOpOVeRPres ident of the Saudi Ports Authority (SEAPA),

Showcasing exemplary practicesHis Excellency Abdulaziz Bin Mohammed Bin Nasser Al-Tuwaijri, led a delegation on a visit to Keppel Shipyard on 30 November 2011. SEAPA is the government agency that supervises the ports of Saudi Arabia.

Keppe l Sh ip ya rd ’s ED Mr Chor How Jat and Senior GM Mr Louis Chow hosted

the delegation, sharing on the Group’s offshore and marine capabilities as well as past and present projects for the Middle East. This includes a customised KFELS Super B Class jackup rig for Saudi Aramco to be delivered in the second half of 2012.

With a global network of 20 yards worldwide, Keppel Offshore & Marine operates two yards in the Middle East region. They are Nakilat-Keppel Offshore & Marine which is based in Qatar, and Arab Heavy Industries, located in United Arab Emirates.

RUSSIAN VISITA delegat ion from the Science & Technology Society of Shipbuilders of the Russian Federation (NTOS) called on Keppel Shipyard and Mr Nelson Yeo (foreground, extreme right), MD of Keppel Shipyard, hosted delegates from

the Science & Technology Society of Shipbuilders of the Russian Federation

Delegates from the Saudi Ports Authority (SEAPA) were warmly welcomed at Keppel Shipyard

Keppel S ingmar ine on 11 November 2011.

Led by Professor Vladimir V. Alexandrov, President of the NTOS and Professor at Saint Petersburg State Marine Technical University, the delegation comprised personnel from education and research institutes as well as shipbuilding and ship repair companies.

Keppe l shared on the offshore and marine projects it had delivered to Russia over the years. This includes the ice-class Floating Storage and Offloading unit, Yuri Korchagin, a project delivered by Keppel Singmarine with its sister yard, Caspian Shipyard Company, and the two icebreakers, Toboy and Varandey. keppelite



Keppel FELS shared project management best practices at its yards with Keppelites from across the Group

Established processes support the execution of smooth operations, enabling project managers to identify, assess, mitigate and review the risks impacting a project’s scope, schedule and costs.

This was amongst many important tenets of Keppel FELS’ project management methodology shared by its project managers with 30 Keppelites from across the Group on 1 December 2011, initiated by Keppel Corporation’s Group Risk Management Department.

Mr Wong Kok Seng, MD of Keppel FELS, kicked off the session by emphasising on the continuous improvement

of project management processes and team work to ensure continued project success.

Ms T ina Chin, GM of Group Risk Management of Keppel Corporation, shared, “Keppel Offshore & Marine’s expert project management capabilities ensures consistent

high quality delivery. We hope the participants can pass on their newly-acquired knowledge in their respective business units.”

Mr Lim Kim Chiew, Chairman of Keppel Land’s Project Management Focus Group, appreciated the session, remarking, “We have gained

Sharing on project risk management

invaluable insights into rigs design and construction, p r o j e c t m a n a g e m e n t control processes, and MD review session for proactive management of risks. These lessons learnt can help us in our business review and improvement on the project management system.” keppelite

As the global economy faces uncertain times ahead, good mentorship becomes all the more pertinent, as it keeps employees engaged and sustains their enthusiasm and determination. Good mentorship is also crucial to succession planning and talent management.

This was the message shared by Mr John Bittleston and Ms Eliza Quek, experienced trainers brought in by Keppel Group Human Resources

Mentoring leadersto conduct an Executive Mentoring Workshop for over 20 managers across the Keppe l Group on 6 December 2011.

According to John and Eliza, good mentors must have seven attributes: common sense; rough edges which have been smoothed; care; a good listening ear; wisdom; lucidity; and creativity.

Mentors with these attributes are able to connect with their

mentees readily and bridge cultural differences between employees.

Mr Au Yong Kong Seng, GM, China Business Unit of Keppel Telecommunications & T r a n s p o r t a t i o n commented, “John and Eliza have vast experiences which allowed them to share interesting anecdotes. These were very thought-provoking and stimulating, and relatable to our personal and workplace experiences.

Indeed, it was a very inspiring and interactive workshop.”

A d d e d M r L i m A h Cheng, Asst. GM, Project Management, Keppel FELS, “The workshop has further reinforced my belief that the process of mentoring and enabling others is a rewarding and fulfil l ing experience.” keppelite



Mr Mok Kim Whang, President and GM of Keppel Subic Shipyard, shares how the shipyard is ever-ready to ensure business continuity

To enhance the resilience of Keppel’s businesses in any eventuality, Keppel C o r p o r a t i o n h e l d a n inaugural Business Continuity M a n a g e m e n t ( B C M ) Conference for the Group on 8 December 2011.

The conference was attended by Keppel Corporation’s Chairman Dr Lee Boon Yang, CEO Mr Choo Chiau Beng, Senior Executive Director Mr Tong Chong Heong, board members and senior management of the Group a s w e l l a s o v e r 2 5 0 Keppelites.

In his opening remarks, Mr Choo emphasised the importance of enhancing Group-wide operational resilience. Citing recent world examples such as the tsunami in Japan and the tension in Iran which could disrupt oil supply from the Middle East, he underlined the need to be vigilant and well-prepared to respond seamlessly to bus iness in ter rupt ions as well as ensure rapid business recovery.

The participants benefitted from presentations by fellow Keppelites across the Group who shared their experiences and mitigation plans that enabled our businesses to recover quickly from severe disruptions, such as hurricanes and typhoons, terrorism, pandemic flu,

Securing our businesspower outages and loss of critical equipment.

The participants also gleaned insights from the guest speaker, Dr Goh Moh Heng, President of the Business Continuity Management Institute, who presented on “The top five things an organisation should know when implementing its BCM programme”.

Dr Goh said implementing a standardised, effective and robust BCM plan across business units involved commitment from senior m a n a g e m e n t , a c t i v e engagement of all aspects of business operations and the consideration of key interdependencies.

K e p p e l C o r p o r a t i o n ’s G r o u p C o r p o r a t e C o m m u n i c a t i o n s a n d Group Human Resources departments also took the opportunity to underscore their supporting roles in BCM planning and crisis management.

Ms T ina Ch in , GM of Group Risk Management, concluded the conference thus, “It is heartening to see the conference bringing different parts of the Group together, to share how business units put into practice their BCM plans. The conference serves as a timely platform to allow

business units to learn from each other’s diverse experiences and distill what

are the common concerns and strategies to manage risks.” keppelite

Guest speaker Dr Goh Moh Heng elaborates on the top five things to know when implementing a BCM programme



Every minute, every hour, every day, Keppel touches lives in over 30 countries across the globe through our workforce of 37,000.

This is the conceptual thrust behind the Keppel Group’s 2012 calendar, which features Keppe l i t e s Sus ta in ing Growth, Empowering Lives and Nurturing Communities at all hours of the clock as

they find joy and inspiration in their day’s work.

This chronicle hopes to deepen Keppelites’ sense of belonging and collective purpose, as we strive as one to realise our vision of being the Provider of Choice for Solutions to the Offshore & Marine Industries, Sustainable Environment and Urban Living. keppelite

Inspiring every moment

Keppel Group’s 2012 calendar features keppelites enjoying their day’s work

Sterling partnershipsK e p p e l F E L S a n d i t s subcontractors celebrated another year of win-win collaborations at its annual Subcontractors Night, held on 28 November 2011, and attended by some 280 representatives.

Mr Tong Chong Heong, CEO of Keppel Offshore & Marine, expressed his appreciation for their support, which undergirds Keppel’s ability to consistently deliver quality services to its customers and maintain a strong orderbook.

He added, “The market is becoming more volatile and competitive, with rising competition from emerging

markets such as China. As such, we must not stick to the status quo. We must continue to challenge ourselves to do our jobs better, quicker and safer. As we continue to control costs, safety must not be compromised. Safety should always be our top priority.”

Keppel FELS conferred JS Marine Engineering with the “Best in Health, Safety and Environment” Award as well as recognised six of its subcontractors for ten years of dedicated services.

In add i t ion , Mr Tong encouraged the subcontractors

to look beyond Singapore. He expressed his hopes to see more subcontractors come forward to work with Keppel on the overseas projects. keppelite

Keppel FELS celebrates another year of strong partnerships with its subconstractors



Ho Chi Minh City (HCMC), the economic heart of Vietnam, is a metropolis on the move with its endless throngs of motorbikes, cars, and buses amidst the cacophony of heavy traffic and thick populace.

A h igh-octane c i ty of commerce and culture, remnants of the city’s past from churches, temples and old government buildings, sit side by side with modern luxuries from designer malls,

Vietnamese vitalityeileen Tan, Keppel Group Corporate Communications executive, shares her insights on the vitality of Vietnam while working with Keppel Land’s Vietnam team during the groundbreaking of Saigon Centre in November.

big modern offices, high-end cuisines to luxurious spas – clear signs of the country’s rising aspirations for high quality of living. It is amidst this setting of pure energy that I stepped foot on HCMC, buzzing with exc i tement to be co l laborat ing wi th my local colleagues to deliver milestone events for Keppel Land and the city.

Gaining momentum as one of the fastest growing emerging economies , V i e tnam’s middle class population and urbanisation rate are growing in lockstep. These trends present tremendous business opportunities. Recognising this, companies from all over the world have been swarming into the market aggressively.

Ahead of the competition is Keppel Land, a pioneer foreign investor who has been operating in Vietnam for more than 20 years. Today, the company ’s portfolio of properties in Hanoi, HCMC, Dong Nai and Vung Tau, is one of largest and most diverse, spanning Grade A offices, award-winning serviced apartments and integrated residential township developments.

I n t e re s t i n g l y, t h o u g h Vietnam’s goods and services are increasingly catered to an international audience, the country remains deeply connected to its Asian roots. Respect and reputation are important aspects of doing business in Vietnam, and bui lding trust and relationships with locals are critical to partnerships.

For Saigon Centre, Keppel Land has worked with its joint venture partners Sowatco and Resco for over a decade since phase one of the project was launched in 1996. The opening of the Safety Awareness Centre was also made possible with the support of the local Vietnamese partners.

My week in HCMC had been an eye-opening experience. In the thick of the project, as I grappled with the language and agonised over whether things got lost in translation, I gradually learnt to adopt the composure of the Vietnamese, which is to never appear harried even when in a hurry and always put people first. keppelite

Ho Chi Minh City is a vibrant city of commerce and culture – remnants of the city’s past, churches, temples and old government buildings, sit side by side with modern luxuries from designer malls, big modern offices, high-end cuisines to luxurious spas



Garden of lifeIn Jakarta where traffic gridlocks, overcrowding and city smog are a grating part of everyday life for some urban dwellers, Handoyo Lim leads an enviable quality lifestyle amidst a wholesome living environment at Jakarta Garden City (JGC) where he lives, works and plays.

Blue skies, fresh air, lush landscaping, convenient amenities within a stone’s throw and spacious, eco-conscious homes – these are the cherished comforts of home sweet home offered by JGC, Keppel Land’s flagship township development in Indonesia.

Handoyo isn’t keeping the secret of ‘paradise found’ to himself. Not just a resident of JGC, he is also Keppel Land Indonesia’s Marketing and Communications Manager for JGC for four years now, responsible for the advertising and promotion activities at the township.

L iv ing is bel iev ing and Handoyo has been won over by JGC’s offerings. With his strong belief in the merits of living at JGC both as a resident and as part of the JGC marketing team, Handoyo takes spec ia l pride in marketing JGC and attracting more people who yearn for a clean, convenient and centrally located home.

JGC is the first residential development in Indonesia to clinch the Green Mark Gold Award by the Building and Construction Authority of Singapore.

“I used to live in Kelapa Gading, a mature neighbouring township. It is my job and aspiration for JGC to grow to become better than it. With rapid urbanisation and environmental concerns, Indonesians are becoming more eco-conscious and seek homes which can achieve energy and cost savings while benefiting the environment at the same time.

“The team at JGC works very hard towards the goal of making JGC the choice township to live in and we are pleased that our hard work

has borne fruit, judging from the success of our launches so far,” shared Handoyo.

The comprehensive amenities offered by the township fulfill the needs of Handoyo’s family. His six-year-old son attends Sekolah Global Mandiri which is just a short drive away while his wife frequents the market and shopping arcade nearby. Over the weekends , the fami l y makes use of the newly completed clubhouse which houses a wide range of facilities – from a children’s playground to a function room big enough to hold a wedding!

For Handoyo, work is only a few minutes away while JGC’s accessible and well-connected location means

that he can get to the heart of the central business district in half an hour’s drive.

The unique exper ience of living where he works has allowed Handoyo to deve lop s t rong bonds with his neighbours who were also his customers. The close community ties mean that neighbours are always ready to lend a helping hand.

“My first-hand experience of JGC has allowed me to share a deeply personal and authentic experience of the key benefits of living in the township to my customers. I am confident that our future launches will be successful as well,” said Handoyo. keppelite

Handoyo‘s family bonds over a barbecue in their backyard



Thomas Jefferson once l i k ened f r i endsh ip to wine – raw when new, ripened with age, a true restorative cordial.

A toast to friends

1. Ms Wang Look Fung, Director of Group Corporate Affairs, Keppel Corporation, in conversations with Ambassador Tony Siddique and Ambassador Michael Tay; 2. Mr Choo Chiau Beng, CEO, Keppel Corporation congratulates Mr Ding Qilin, Chief Correspondent of Xinhua News Agency on his lucky draw win; 3. Ms Lynn Kan, Journalist at Business Times and Ms Angelina Choy, Art Editor of The Straits Times (centre) flanked by Roy Tan and Eva Ho of Keppel Corporation’s GCC; 4. Guests enjoy an evening of fine wines and scenic views as they toast to friendship; 5. Analysts Ms Cheryl Lee from UBS (second from left), Mr Gerald Wong and Mr Christopher Chng from Credit Suisse (centre), and Mr Jason Saw from DMG with members of Keppel Corporation’s GCC team; 6. (Centre) Mr Chee Jin Kiong, Director, Group Human Resources, Keppel Corporation with Mr Conrad Raj, Editor-at-large at Today; 7. Mr Yong Pow Ang, Chief Correspondent at Lianhe Zaobao (left), Mr Dale Wainwright, Asia Correspondent at Tradewinds, Yolanda Guo of Keppel Corporation’s GCC, Ms Angela Koh, Associate Editor of Lianhe Zaobao, and Mr Soon Fook Soon, GM of Business Development & Commercial (China), Keppel Integrated Engineering; 8. Ms Aw Kah Peng, Chief Executive of the Singapore Tourism Board sharing her thoughts with Keppel Corporation CEO Mr Choo Chiau Beng

It is befitting then, that Keppel Corporation Group Corporate Communication’s (GCC) annual ‘Friends of Keppel’ party was held at The Wine Glass at Marina at Keppel Bay,

set against a captivating view of the waterfront.

Keppel’s business associates, i n d u s t r y p a r t n e r s , gove r nmen t o f f i c i a l s ,

analysts and media friends attended the party, themed ‘Icons and Idols’, on 15 December 2011 to renew old ties and forge new friendships. keppelite

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4 5

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Adding on to its track record of 90 international awards, Spring City Golf & Lake Resort (Spr ing City) in Kunming clinched the Yunnan Reputational Brand Award and Kunming Reputational Brand Award on 9 December 2011.

Spring City, an Audubon I n t e r n a t i o n a l C l a s s i c Sanctuary and one of China’s leading golf courses, is the first golf resort to bag the Yunnan Reputational Award.

Presented by the Yunnan and Kunming governments, the two awards recognise companies with outstanding operations and significant contributions to the region’s

New feather in cap

s o c i a l a n d e c o n o m i c development.

Recently, Rose Chen, a student with Spring City’s Junior Academy Programme, also brought glory to the resort by securing the trophy at the China Citic Bank Amateur Golf Championship held in Hainan, China, on 24 November 2011.

Mr Lau Tong Chye, GM, Operations, Spring City, said, “By sponsoring the entire training and practice schedule together with golf equipment, the Junior A c a d e m y P ro g r a m m e provides an opportunity for middle school students from villages to be skilled in the game.

Drawing international golfers

The seventh Honma Cup China-International Media Golf Tournament 2011 was held at Spring City from 1 to 4 December 2011. This event saw Spring City host over 110 golfers from local and international media, from Malaysia, Korea, Japan and Singapore.

Besides golfing, participants also took part in a forum where topics such as the role and impact of media on golf tournaments led to engaging interactions and debate.

“This programme promotes young golfers and talents, and with Rose’s win, we are on the right track to support sustainable development and growth in the golf industry.”

From a village near Spring City, 18-year-old Rose has been training at Spring City for the past 5 years.

He added, “We are very proud of Rose, and I’m sure that her success story will serve as an inspiration to fellow and future participants in the programme.” keppelite

Spring City hosted over 110 local and international media personnel at the seventh Honma Cup Media Golf Tournament 2011

22 Special Focus


Keppel’s strong fundamentals and core competencies continue to drive further growth across businesses a n d m a r k e t s a m i d s t challenging and competitive landscapes.

Keppel CORpORATION

JuneMr Tong Chong Heong was appointed as Senior Executive Director of Keppel Corporation.

Continuing strong growth track in 2011

OctoberK e p p e l C o r p o r a t i o n announced the appointment o f Mr Loh Ch in Hua , MD of Keppel Land’s real estate fund management arm, Alpha Investment P a r t n e r s ( A l p h a ) , a s CFO wi th e ffec t f rom 1 January 2012.

OFFSHORe & MARINe

JanuaryKeppel FELS secured orders from Clearwater Capital Partners, LLC to build a pair of premium KFELS B Class jackup rigs at US$360 million and from Discovery Offshore S.A. to construct two harsh environment jackups based on the proprietary KFELS Super A Class design for about US$416 million.

Keppel Philippines Marine Inc increased its stakes in Keppel Philippines Subic Shipyard to 84%.

February Keppel FELS won contracts from Ensco to build two enhanced KFELS Super A Class harsh environment j a c k u p r i g s a t a bo u t US$440 million.

Keppel FELS Brasil secured two contracts total l ing R$500 mil l ion (approx. $381.4 million) from Single Buoy Moorings, and the jo int venture company MODEC and Toyo Offshore Production Systems.

Maersk Drilling Holdings Singapore placed orders with Keppel FELS for two Gusto MSC CJ70 harsh environment jackup rigs worth close to US$1 billion.

Keppel FELS secured contract worth about US$380 million from Transocean Offshore Deepwater Holdings to build two high-specification KFELS Super B Class Bigfoot jackup rigs.

March Keppel Offshore & Marine (Keppel O&M) acquired 28% stake in SGX-listed topside module fabricator Dyna-Mac via equity placement to strengthen its lead as the total solutions provider for floating production systems (current stake in Dyna-Mac is 27%).

K e p p e l A m F E L S w o n contract from Mexico’s Perforadora Central SA de CV to build a jackup rig worth US$195 million.

With 16 units ordered in 2011, the KFELS B Class design is among Keppel’s suite of proven proprietary designs that is gaining market acceptance

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Record delivery

Even as Keppel Offshore & Marine (Keppel O&M) secured record new orders worth some $9.8 billion for the year-to-date, it also delivered some 26 major projects across i t s yards around the world. This includes five semisubmersibles, three

pROJeCTS Type CUSTOMeR

Newbuild jackups1 Rowan Stavanger KFELS N Class Rowan Companies2 Rowan Norway KFELS N Class Rowan Companies3 Rowan EXL IV LeTourneau Super 116E Rowan Companies

Newbuild semisubmersibles1 West Jaya SSDT™ 3600E Seadrill 2 Alpha Star DSS™38 semisubmersible QGOG 3 P-56 Semisubmersible Petrobras4 ENSCO 8504 ENSCO 8500 semisubmersible Ensco 5 Pv Drilling V SSDT3600E PetroVietnam

FpSO/FSO/FSRU conversions and upgrading1 FPSO Okha FPSO SBM 2 FPSO Lewek Emas FPSO EMAS /PV Keez 3 FPSO Armada TGT1 FPSO Bumi Armada 4 FPSO P-58 FPSO Petrobras 5 FSO Sepat FSO Bumi Armada 6 FPSO Aseng FPSO SBM 7 FPSO OSX -1 FPSO OSX

Newbuild vessels1 Princess Chloe Barge P.T. Mitra 2 Ratu Giok 1 Barge P.T. Pelayaran Kartika3 Straits Venture Barge PT Indo Straits 4 KST 57 Tug Keppel Smit Towage 5 KST 58 Tug Keppel Smit Towage 6 GLOBAL 1201 Derrick pipelay vessel Global Industries7 KST 59 Tug Keppel Smit Towage 8 Maju Tug Tug Maju Maritime

Major upgrades/ repairs/ drillship outfitting1 Bully 1 Drillship outfitting Noble 2 Ensco 7500 Semisubmersible repair Ensco 3 Scarabeo 9 Semisubmersible completion Saipem

jackup rigs, seven FPSOs, one drillship outfitting, eight specialised vessels and two major repair/completion projects.

In the execution of its projects, Keppel O&M has maintained its track record for safe, timely and within

budget del iver ies. I ts value proposition includes meeting local content requ i rement such as with the P-56 which was completed entirely in Brazil as well as the completion of complex projects such as the Scarabeo 9.

Keppel Shipyard secured S$170 million contracts for completing a Pipe Laying Vessel for Saipem S.p.A and converting a Floating, Storage and Offloading (FSO) vessel for Bumi Armada Berhad.

Keppel FELS secured a contract worth about US$210 million from Japan Drilling Company to build a KFELS Super B Class jackup rig.

April Jasper Investments placed a s e c o n d o rd e r w i t h Keppel FELS to build a KFELS B Class jackup rig at US$180 million.

Keppel Shipyard and Keppel Singmarine clinched new contracts worth $240 million to build a multi-purpose diver support construction vessel for SBM Offshore as well as modify and upgrade a Floating Production Storage and Off loading (FPSO) vessel for Petrofac.

The KFELS Multi-Purpose Sel f -E levat ing-P latform wind turbine installation vessel under construction at Keppel FELS secured job for deployment at DanTysk in the German sector of the North Sea.

May K e p p e l F E L S s e c u re d US$393 million contract to build two KFELS B Class Bigfoot jackup rigs from returning customer, Gulf Drilling International.


24 Special Focus


Keppel FELS won four repeat KFELS B Class rigs order from Standard Drilling worth US$772 million.

Keppel FELS secured a contract with Vision Drilling, a wholly-owned subsidiary of Dynamic Offshore Drilling, to build its first KFELS B Class jackup drilling rig for US$180 million.

JuneKeppel FELS was awarded a US$142 million contract from Seadrill to build a repeat semisubmersible drill ing tender based on the KFELS SSDT™ 3600E design.

Mr Chow Yew Yuen was appointed as MD of Keppel O&M and will assist the CEO of Keppel O&M in all aspects of Keppel O&M. He will continue in his role as the President of the Americas.

Keppel FELS was awarded a contract worth about US$260 million by Floatel International (Floatel) to build a new generation a c c o m m o d a t i o n semisubmersible.

Ahead of its opening in 2012, Keppel Singmarine Brasil secured two newbuild contracts worth about S$140 million from fleet operators in Brazil. The first contract is for six 45-tonne bollard pull twin-screw Azimuth Stern Drive harbour tugboats for Rebocadores do Brasil S.A., and the second contract is to construct a large-sized 4500 dwt Platform Supply Vessel.

The stake in Dyna-Mac, a topside module fabricator will allow Keppel better control over the process of designing and fabricating oil and gas production modules

JulyK e p p e l F E L S ’s r e p e a t customer, Asia Offshore Drilling, ordered the third KFELS B Class jackup rig worth US$184 million.

AugustKeppel Shipyard secured t w o c o n t r a c t s w o r t h S$146 million to convert an FPSO unit for SBM as wel l as to fabricate a n d i n t e g r a t e a n external turret mooring system for an ex ist ing FPSO vessel.

Keppel FELS secured a repeat order from Transocean for a KFELS Super B Class B igfoot jackup r ig for US$195 million.

SeptemberFloatel became a subsidiary of Keppel O&M through an amalgamation exercise.

Keppel Nantong in China secured a contract worth S$143 million to build the world’s largest heavy lift sheerleg floating crane for Asian Lift.

Keppel Shipyard secured t h r e e c o n v e r s i o n contracts worth a total of S$142 m i l l i on . The se contracts are to convert a Liquefied Natural Gas (LNG) Carrier to a Floating Storage Unit (FSU), a VLCC tanker to an FSO unit as w ell as a tanker to a FPSO unit.

October Keppel FELS secured a contract worth US$199 mi l l ion for its refurbished KFELS B Class jackup rig from Safin Gulf FZCO as well as a contract to build an enhanced KFELS Super A Class harsh environment jackup rig from Ensco for US$245 million.

NovemberKeppel Singmarine secured two contracts worth about S$47 million from Indonesian customers. The contracts are for a Coal Transshipment Barge for repeat customer PT Indo Straits Tbk, and the construction of three tugboats for an international shipping company.


25


decemberKeppe l O&M se cu red a c o n t r a c t w o r t h US$809 million from Sete Brasi l for a proprietary DSS™38E semisubmersible.

INFRASTRUCTURe

JanuaryThe Keppel Group signed three agreements to deepen and broaden its investments and scope of activities in the Sino-Singapore Tianjin Eco-City (Tianjin Eco-City) in China.

Keppel Telecommunications & Transportation(Keppel T&T) signed an agreement for the land use rights for t h e d e v e l o p m e n t o f an integrated logist ics distribution centre within the Eco Industrial Park of the Tianjin Eco-City.

K e p p e l I n t e g r a t e d Engineering (KIE) signed a framework agreement to explore joint investment and development of water t rea tment p ro j ec t s i n the Tianjin Eco-City, and also entered into a lease agreement that will establish i t s presence in a new innovation centre.

Keppel T&T and Keppel L a n d f o r m e d a j o i n t venture company, Keppel Data Centres Hold ing, to consolidate their data centre assets and position the business for further growth. Keppel Data Centres Holding (JV Co) is 70%:30% indirectly held by Keppel T&T and Keppel Land respectively. The JV Co also acquired two data centre assets, Keppel Datahub and Keppel Digihub, currently owned by

Keppel T&T and Keppel Land respectively.

MarchKeppel T&T, through a subsidiary, entered into a conditional agreement to sell its 35% shareholding of Wuhu Annto Logistics Co to Midea for an after t a x n e t p r o c e e d o f approximately $52.6m.

AprilA joint venture was inked between KIE and Tianjin Eco-City Investment and Development Co to pursue the bu i l d i ng , own ing and operation of a water reclamation plant in the Tianjin Eco-City.

JulyKeppel Logistics completed the sale of its 35% stake in Wuhu Annto Logistics

(Annto) and ceased to be a registered shareholder of Annto.

Securus Data Property Fund (Securus Fund), jointly managed by a subsidiary of Keppel T&T and AEP Investment Management, completed the acquisition of a 70%-stake in iseek Data Centre from iseek Communications.

Keppel T&T signed a non-binding Memorandum of Understanding with the Construction Office of Sino-Singapore Jilin Food Zone to jointly develop a logistics park to serve the proposed Jilin Food Zone.

AugustKeppel Logistics completed

KIE inks JV agreement with TECID to pursue the building, ownership and operation of a water reclamation plant in the Tianjin Eco-City


26 Special Focus



With the opening of Nanhai Distribution Centre, Keppel Logistics Foshan will add another 35,000 sm of warehousing space and manage a total of over 100,000 sm of warehousing space in Guangdong Province

the acquisition of the other 50%-stake in Transware Distribution Services from MISC Integrated Logistics for $17.85 million.

OctoberKeppe l T&T s i gned a joint venture agreement with Sinotrans to jointly develop and operate a river port along Yangtze River, serving Wuhu City, Anhui Province and the central region of China. This marked Keppel T&T’s first port project along Yangtze River.

K I E handed ove r t he Domest i c So l id Waste M a n a g e m e n t C e n t r e project in Qatar to clients a n d c o m m e n c e d t h e Operational and Maintenance phase.

NovemberKeppel T&T through its joint venture, Keppel Logistics (Foshan), officially opened its new distribution centre in Foshan, Guangdong Province.

decemberSecurus Fund formed a joint venture with Keppel T&T’s wholly-owned subsidiary, Boxtel Investments, to own, manage and operate a data centre in Gore Hill, Sydney, Australia.

pROpeRTy

MarchKeppel Land was awarded a prime residential site in Sengkang by the Housing and Development Board for about $286.8 million.

Alpha Investment Partners, ( A l p h a ) t h r o u g h i t s US$1.2 billion Macro Trends Fund (AAMTF), and NTUC Income, entered into an agreement to jointly acquire Capi ta l Square for an investment consideration of about $889 million.

K-REIT Asia Management, the Manager of K-REIT As ia , announced tha t RBC Dexia Trust Services Singapore, in its capacity as the trustee of K-REIT Asia, entered into a sale and purchase agreement for the acquisition of levels 26 to 29 of the 30-storey Prudential Tower at a purchase price of approximately $125.1 million inclusive of rental support. Post-acquisition, K-REIT Asia owns approximately 93% of

the total strata area which translates to 223,830 sf of net lettable area at Prudential Tower.

AprilSingapore’s Senior Minister Goh Chok Tong officiated at the groundbreaking ce remony o f Keppe l ’s Seasons City in the Tianjin Eco-City. Located within the Keppel Group’s 36.6-ha site, Seasons City comprises three office towers, retail premises and serv iced apartments with a total Gross Floor Area of about 254,398 sqm.

MayJ a k a r t a G a r d e n C i t y became the first residential development in Indonesia to be conferred the Green

27


Seasons City, a mixed development of three office towers, retail premises and serviced apartments, had its groundbreaking in April this year

Mark Gold Award by the Building and Construction A u t h o r i t y ( B C A ) o f Singapore.

JuneRiviera Point in Ho Chi M i n h C i t y, V i e t n a m , received positive response for its public launch. The project is jointly developed by Keppel Land’s wholly-owned subsidiary, Elaenia Pte Ltd, and established local property developer, Tan Truong Co.

Keppel Land China secured a 7.2-hectare site in Nanxiang Town, Jiading District in Shanghai, China for about $241 m i l l i on f o r t he Continues on page 28...

development of about 1,000 high-rise apartments.

Keppel Land, together with JV partners – local developers Tien Phuoc Co and Tran Thai Co, obtained masterplan approval and kickstarted the development of a prime 30-ha cleared site in South Rach Chiec, District 2 of HCMC. The waterfront development will comprise about 6,430 homes supported by quality retail, commercial, educational and medical facilities with a total gross floor area of about one million sm.

JulyK-REIT Asia Management,

as Manager of K-RE IT As ia , announced tha t RBC Dexia Trust Services Singapore, in its capacity as the trustee of K-REIT Asia h a d e n t e re d i n t o a n agreement with Mirvac Property Trust for the acqu i s i t ion o f a 50% interest in Mirvac 8 Chifley Trust, which owns 8 Chifley Square, Sydney, Australia.

AugustK e p p e l L a n d C h i n a s e c u r e d a 2 1 . 5 - h a lakefront residential site in Binhu district, Wuxi, Jiangsu province, China for about $368 million. The deve lopment w i l l compr i se 2 ,500 un i t s ,

i n c l ud i ng commerc i a l components.

Deputy PM and Minister for Finance and Manpower Tharman Shanmugaratnam opened the Ocean Financial Centre.

SeptemberKeppel Land achieved strong take-up for The Luxurie in Sengkang which comprises 622 homes.

Alpha set up its new China office in Shanghai, China and appointed Mr Eric Goh Lai Soon as CEO of China Operations.

28 Special Focus


Alpha also announced the first closing of its Alpha Asia Macro Trends Fund II (AAMTF II). The AAMTF II raised a commitment of o v e r U S $ 4 6 0 m i l l i o n (S$556 million) as at end June 2011 f rom e ight inst i tut ional investors . AAMTF II made its maiden investment by entering into an agreement to acquire a 142-room boutique Central Park Hotel in Hong Kong for HK$515 million (about S$80 million).

OctoberKeppel Land clinched several top awards for best practices in sustainability. It was the sole winner for the Singapore Awards for Sustainability Reporting (SASR) 2011 by the Association of Chartered Cer t i f i ed Accountants (ACCA).

Keppel Land was a l so selected as a component of

the Dow Jones Sustainability Indices (DJSI World Index and DJSI Asia Pacific Index). It is the only Singapore company to be included in the Sustainability Yearbook 2011 which features the top 15% of companies


out of 2,500 worldwide in sustainability leadership.

In the Global Real Estate Sustainability Benchmark (GRESB), Keppel Land was named the Best Performer in Asia and earned a “Green Star”

based on GRESB’s model of environment performance.

For the third time, Keppel Land garnered the “Best in Class” status conferred by Norwegian financial institution Storebrand and

The Luxurie, Keppel Land’s homes in Sengkang, continues to receive positive response

Mr Choo Chin Teck, Director, Corporate Services and Company Secretary of Keppel Land (right), receives the Best Sustainability Report Award from Ms Grace Fu, Senior Minister of State, Ministry of the Environment and Water Resources

29


Keppel Land breaks new ground for Saigon Centre Phase 2 in Ho Chi Minh City

scored the highest among other l i s ted S ingapore developers.

Keppe l Land, through subsidiary Straits Property Investments, entered into a conditional share purchase agreement with RBC Dexia Trust Services Singapore as trustee of K-REIT Asia, for the sale of its approximate 87.5% shareholding interest in Ocean Propert ies to K-REIT Asia for a period of 99 years.

The agreement, negotiated on a wil l ing-buyer and willing-seller basis, has been reached at the consideration of $1,571.3 million (subject to completion and post-completion adjustments). This was based on an agreed value for the property at $2,013.1 million with a rental support of up to $170 mi l l ion from the completion of the sale to 31 December 2016.

The transaction will yield for Keppel Land a net gain of about $492.7 million upon completion, derived after deducting the book value of the investment and excluding gain arising from the Group’s 46.4% in K-REIT Asia.

K-REIT Asia also proposed a rights issue to partly finance the acquisition. Keppel Land would provide an irrevocable undertaking to subscribe for its pro-rata entitlement of K-REIT Asia’s rights units.

K-REIT Asia Management Limited, as manager of K-REIT Asia, announced that K-REIT Asia received an investment grade rating of “BBB” and an ASEAN scale rating of “axA” by Standard & Poor’s on 20 October 2011.

`Marina at Keppel Bay was conferred the Green Mark Gold Award by the BCA, as well as the Clean Marina

accreditation by the Marina industry Association of Australia.

Keppel Land and JV partners, Southern Waterborne and Transportation Corporation (SOWATCO) and Saigon Real Estate Corporation (RESCO) held a groundbreaking ceremony for Phase two of Saigon Centre in Ho Chi Minh City.

To ensure safety at the work sites of its projects, Keppel Land, with the support of local Vietnamese partners, opened a Safety Awa rene s s Cen t re t o provide training to raise the safety standards among its workforce.

decemberK-REIT Asia Management Limited, as Manager of K-REIT Asia, announced its first anchor tenant at 8 Chifley Square in Sydney – Corrs Chambers Westgarth.

A leading Australian law firm, the company has pre-committed approximately 87,000 sf of premium office space at 8 Chifley Square in Sydney, Australia, for a 12-year term. This works out to be approximately 40% of the total net lettable area of the building. Both K-REIT Asia and Mirvac Property Trust, a member of the Mirvac Group, own a 50% interest each in the office tower.

Keppel Land announced the complet ion of the divestment by subsidiary Straits Property Investments of its approximately 87.51% in Ocean Properties to K-REIT Asia for 99 years. keppelite

*Milestones as at 23 December 2011

30 empowering Lives


30 empowering Lives

A b o u t 1 1 0 K e p p e l Corporation employees gathered at the Reflections at Keppel Bay show gallery for the Long Service Awards Presentation cum Year End Luncheon on 16 December 2011.

Keppel Corporation’s CEO Mr Choo Ch iau Beng expressed appreciation to all employees for their hard work. 26 loyal Keppelites were also honoured with L o n g S e r v i c e Aw a rd s

ranging from 10 years to 40 years. Remarkably, the 26 employees have contributed a total of 640 years of service to the company!

Some 16 members of the Keppel Filipino Community (KFC) which is formed by about 300 Filipino Keppelites and their family, added to the celebratory air with Christmas carols.

The highlight of the party was an exciting lucky draw

Appreciation all around

Senior ED Mr Tong Chong Heong (first image, second from left) and Chairman Dr Lee Boon Yang (centre of second picture) and senior management from across the Keppel Group celebrate with employees at the Keppel Corporation’s year-end party

Say Huan Yuan, Assistant Manager, Business Planning, Keppel Telecommunications & Transportation, who is on secondment from Keppel Corporation, received the top lucky draw prize from CEO Mr Choo

empowering Lives 31


which saw 10 employees walk away with pr izes tota l l ing over $4,500, including shopping vouchers, travel vouchers and electronic products.

To spread the festive cheer to others less fortunate, Keppel Group Human Resources garnered support from all departments to prepare gifts for under-privileged children at The Haven. 150 gifts were collected to stuff the children’s stockings.

To end the year on a high note, Keppel Integrated Engineering (KIE) held its Dinner and Dance (DnD) on 10 December 2011. Themed “Tropical Paradise”, the party saw staff decked out in vibrant beach wear. Joining the party were Mr Michael Chia, Deputy Chairman of KIE, Mr Loh Ah Tuan, Director of KIE and RADM (NS) Chew Men Leong, Chief Executive of the Public Utilities Board.

The highlight of the party was the presentation of long service awards to deserving KIE employees. BG (NS) Tay Lim Heng, CEO of KIE, honoured all long service award recipients, and thanked them for their contribution towards K IE ’s growth over the years.

Guests were entertained b y c h a r m i n g h u l a dancers, while those who participated in the arm

1. Mr Michael Chia, Deputy Chairman of KIE (centre, in black shirt) and Mr Thomas Pang, CEO of Keppel Infrastructure Fund Management (second from right), join KIE employees to ring in a successful year ahead; 2. A toast to good cheer – Senior management from KIE (from left) BG (NS) Tay Lim Heng, CEO of KIE, Mr Michael Chia, Deputy Chairman of KIE, Mr Jeffrey Lee, AGM of Keppel Sea Scan, Mr Thomas Pang, CEO of KIFM, Mr Goh Chin Aik, GM of Operations and Maintenance, KIE, and Mr Tan Dek Joon, SGM Commercial of Keppel Seghers; 3. KIE employees cheer on their senior management who made a lively and colourful entrance to the party; 4. KIE employees faced off in an arm-wrestling contest; 5. Hula dancers enthralled audiences with their performance at the KIE Dinner and Dance party

wrestling and belly-dancing competit ions basked in thunderous applause from the crowd. keppelite

1 2

3 4 5

32 empowering Lives


Distilled wisdom

In presenting the 40-year long service award to Keppel Corporation’s CEO Mr Choo Chiau Beng, Chairman Dr Lee Boon Yang noted that nowadays, it is not easy to find people who join a company and serve it loyally and with commitment over such a long period of four decades.

Dr Lee praised Mr Choo for serving Keppel with loyalty and dedication, h a v i n g s t e e re d t h e company through many ups and downs during his time. Dr Lee added that

Keppel’s achievements are to a large extent due to the effort of long-serving staff like Mr Choo, who have made Keppel their life-long mission.

He reca l l ed how sh ip repair and shipbuilding was doomed as a sunset industry in 1984. But it was not to be. Keppel, Dr Lee said, showed how we can create a special company w i t h d e t e r m i n a t i o n , courage, creativity and innovativeness.

Some of the long service award winners also had

Third row from left (years of service in brackets): Grace Chia (10), Dennis Tan (10), Caroline Chang (10), Cindy Lim (10), Chia Tsui Lin (10), Ahmad Fua’ad Bin Hassan (30), Paul Tan (30);Second row from left: Irene Koh (30), Freda Goh (30), Katrina Hui (30), Chua Bee Hoon (20), Lee Chui Ling (20), Mak Puay Hoon (30);Front row from left: Michael Poh (40), Tong Chong Heong (40), Wang Look Fung (30), Dr Lee Boon Yang, Choo Chiau Beng (40), Chee Jin Kiong (40), Magdeline Wong (30);Not pictured: Ang Ting Yang (10), Leong Yoke San (10), Cheryl Wong (30), Constance Teh (30), Wong Kin Wah (30), Doris Chia (40), Poon Kit Peng (40)

some words to share with Keppelites:

“It was definitely a sense of camaraderie which saw us through the good times as well as bad times… Among the things which have kept us together are great leadership, fairness and meritocracy.”Mr Tong Chong Heong Senior ED

“The special thing about Keppel Group is that we are a very people-oriented organisation while remaining focused on the company’s performance. We take care

of employees and one another… One thing which has impressed me the most is how all the staff will close ranks and work together in adversity.”Mr Chee Jin KiongDirector, Group Human Resources

“Always have that fire in your belly in whatever you do. You have to have that passion. And never forget the people around you. We work as a team, we grow as a team.” Ms Wang look Fung Director, Group Corporate Affairs

empowering Lives 33


Lending a listening earThe recently opened workers’ dormitory, Cassia@Penjuru, is a cozy home away from home for Velayutham Senthil Kumaran, who came from India to work at Keppel Shipyard in February 2011.

He shared, “I feel very comfortable here. There are many recreational facilities. I can get together with my housemates to cook meals, and buy groceries at low prices.”

L o c a t e d a t P e n j u r u Walk, Cassia@Penjuru is Keppel Housing’s latest accommodation facility. It is jointly owned by Keppel and Jurong Shipyard Pte Ltd.

In addit ion to Cassia@Penjuru, Keppel Housing

At home in Singaporealso operates Acacia Lodge, Juniper Lodge, Lantana Lodge and K i an Teck Hostel. These dormitories, home to some 10,000 foreign workers, enable Keppel to take care of the welfare of its people and maintain a dynamic workforce.

The compounds feature modern amenities, including c o n v e n i e n c e s t o r e s , laundromats, banking and IT terminals, and barber shops. The bigger dormitor ies also have facilities such as gymnasiums, wet markets and canteens. Each resident pays a nominal sum of $40 to $50 per month in housing rent.

Keppel undertakes a holistic approach towards the welfare of it foreign workers.

Mr Steven Lee, GM of Keppel Housing, said, “The safety and welfare of our foreign workers are paramount. This includes their mental well-being, which we understand includes having to adjust to a foreign country and being away from their loved ones.”

In line with this approach, Keppel Housing officially launched a counselling p ro g r a m m e f o r t h e residents of its estates in October 2011. Presently, the workers can turn to three full-time counsellors when they need a listening ear.

One of the counsellors, Dr Rezwana Islam, is a gene ra l p rac t i t i one r who received training in counseling as part of her degree. She said, “Being of the same nationality is a big help in building rapport and connecting w i th them, because for most Bangladeshis, counselling is still a foreign concept.

Another counsellor, Yang Kun, a psychology graduate from Hunan province in China, explained that language barriers are key challenges for mainland Ch ine se work ing i n Singapore. He said, “A lot of them are from different provinces in China, each with their own dialect. Sometimes they have difficulty communicating among themselves, let alone in English.”

By providing support and encouragement, the counsellors ease the minds of the foreign workers, enabling them to better concentrate on thei r work.

Keppel Housing is looking to expand the counseling programme. The three counsellors have received a o n e - d a y w e l f a r e training course by Mr Jolovan Wham, 31, ED of the voluntary welfare organisation Humanitarian Organisation for Migration Economics (Home). They will also receive additional training in the next three months to better equip them for the job.

Located at Penjuru Walk, Cassia@Penjuru is Keppel Housing’s latest accommodation facility

34 empowering Lives


K e p p e l G a m e s 2 0 1 1 culminated in an exciting finish – after more than two months of intense competition. Team Caspian overcame last year’s champion, Team Pacific, and secured the Keppel Games Overall Grand Champion Trophy.

B e s i d e s p ro m o t i n g a sporting lifestyle and healthy c o m p e t i t i o n a m o n g s t Keppelites, Keppel Games is an annual platform for cu l t i vat ing s t rong t ies amongst employees from

Clash of the titansacross the Group. Keppelite shares highlights of the finale event, which took place on 27 November 2011.

ROUSING STARTAt National University of Singapore, where the finale was held, senior management and Keppelites from across the Group started the day with a rigorous, seven-minute workout led by professional fitness instructors. Stretching and flexing, they were soon warmed up for the final matches.

Keppel GAMeS 2011: FINAl SCOReS

Atlantic Caspian pacific

634 892 794

eVeNly MATCHedThere was a nail-biting finish in the soccer finals. Equally dexterous, Team Atlantic and Team Caspian came to a 0-0 score after full-time play. As such, the game proceeded to a penalty shoot-out in which Team Atlantic emerged champion,

having snared four goals while Team Caspian fell short with only three.

However, Team Caspian cornered the 9-a-side Soccer Challenge Trophy, having secured both the second and third places in the competition.

The two-month long Keppel Games 2011 ended on a high note

empowering Lives 35


Charity shootout

Funds were raised for the Association for Persons w i t h S p e c i a l N e e d s (APSN), Keppel’s adopted char i ty, through the Charity Penalty Shootout a t K e p p e l G a m e s 2011.

enthused, “It is great that we have a charity fundraiser component in Keppel Games. I am very happy to be able to participate in this meaningful event and do my bit for charity!”

TRAIlBlAzeRSIn the running events, more than 180 athletes put their best foot forward in races with varying distances, ranging from 100 metres to six kilometres.

Zhang Ya Juan, an Engineer at Keppel FELS, remarked, “This is the fifth time that I have represented Team Caspian in the Veteran’s Open category. I look forward to being part of Keppel Games every year. Besides getting a good workout, Keppel Games provides opportunities for

me to bond with my fellow Keppelites.”

FUN ANd GAMeSBesides sporting matches, Keppelites also engaged in a series of telematches. The participating teams gamely applied their wits and energies to tackling challenges such as balancing tennis balls on the foreheads of their members and piecing together a gigantic jigsaw puzzle to form the words “Blazing for Passion, Striving for Success”, the theme of Keppel Games 2011. keppelite

$50,000 was raised for Keppel’s adopted charity, Association for Persons with Special Needs, through the Charity Penalty Shootout`

Volunteers from Keppel and beneficiaries from APSN took aim with a football at placards indicating amounts ranging from $1,500 to $2,500. The sum raised per person corresponded with the placards they managed to

strike with each kick. A record $50,000 was garnered from Keppel’s business units.

One of the participants in the fundraiser, Vernon Neo, Business Development Manager at Keppel Seghers,

36 empowering Lives


Joined by Keppel O&M’s management, Keppelites kicked into high gear with an energetic workout at Keppel FELS ACTIVE Day

Working out for better well-beingMore than 2,000 Keppelites worked up a hearty sweat at the annual Keppel FELS ACTIVE Day campaign on 17 December 2011, which encourages employees to ‘live well, eat well and stay healthy’.

Guest-of-Honour, Mr Tong Chong Heong, CEO of Keppel Offshore & Marine, commented that good health leads to higher productivity.

Urging all Keppelites to make healthy living a priority, Mr Tong said, “There are many small habits we can adopt to stay healthy. For example, instead of taking

the lift, you take the stairs. Instead of taking soft drinks, you can opt for water.”

A t t he e v en t , s en i o r management and employees participated in a rigorous work out led by fitness instructors from Team Fitness Guru.

Throughout the year, Keppel FELS’ Human Resource Department regularly rolls out programmes to promote better health and wellness amongst employees. Their initiatives include fruit and health bazaars, health and welfare talks, recreational activities as well as subsidised health screenings. keppelite

Active contributions to the community and the People’s Act ion Par ty (PAP ) o f Singapore, garnered Lu Qimin, Assistant Project Manager at Keppel Singmarine, the Youth Medal at the recent PAP Annual Party Awards Ceremony.

Presently serving his third term as Chairman of the Young PAP Marsiling Branch, Qimin has been an active member for more than 10 years, since he was 18, and also a regular volunteer at the

rewarding outreachconstituency’s weekly Meet-the-People Sessions.

Qimin connects people who need assistance with those who can provide it, and also helps to convey appeals through letters, telephone calls or face-to-face meetings. He has also helped to raise political awareness among young Singaporeans by managing the party’s new med ia communica t ion channels.

Q i m i n s h a r e d , “ M y

experiences with Young PAP have been meaningful and enriching. I derive much satisfaction from being able to help others. These experiences have helped me become more mature and articulate.

“The Meet- the-Peop le Sessions have enabled me to interact with people from all walks of life and has better equipped me to manage expectations, gather feedback and explain complex concepts in layman terms.” keppelite

At the PAP Annual Party Awards Ceremony, Lu Qimin (right), Assistant Project Manager from Keppel Singmarine, receives the Youth Medal from Mr Khaw Boon Wan, Chairman of the People’s Action Party, Minister for National Development and Member of Parliament for Sembawang Group Representative Constituency

empowering Lives 37


Keppelites Abroad

Shanghai school of hard knocks was getting nowhere, he proceeded to scream and shout for the next two hours until his voice turned hoarse.

One of the workers abruptly barged into the room and demanded that the contractor stop his act and pay their fees. It was then that it came to light that the migrant workers were “actors” hired to support the contractor’s claims.

Experiences such as these have schooled Ben in sizing

up a person or situation quickly, thinking on his feet and maintaining a calm composure. These qualities have served him well as he undertakes his work responsibilities, which include identifying growth opportunities and ensuring that projects are wel l-managed and profitable.

Sharing observations about the city, Ben said, “China’s growth, especially in Shanghai, has been phenomenal. As a developer, we must capture the many opportunities that will put us in good stead, especially since China will continue to grow and prosper given that it plays a critical role as the world’s engine of growth.” “My very first visit to Shanghai was in 2001 and by the time I started working there in 2005, I could hardly make out the places I visited only four years ago.”

Ben, who is a Singaporean, decided to live in Shanghai in 2006 and eventually joined Keppel in July 2007.

“The next big change was in 2009 when Shanghai was preparing for the World Expo. The city became a large construction site and

“You will learn to expect the unexpected when working abroad,” Mr Ben Lee, City Head of Keppel Land China’s operations in Shanghai, shared as he recounted a challenging experience he had in the country.

It was a four-hour long, tense discussion between a contractor, government officials, the local police chief and Keppel Land with numerous migrant workers present. In the first two hours, the contractor pleaded his case in tears. Realising he

roads were diverted to make way for new buildings, such that even local taxi drivers themselves lost their way around the city!”

Ben and his family which includes two children aged seven and nine, have since adapted and grown to live like one of the locals. To help his children assimilate to the local culture and language, Ben “forced” them to watch local Chinese cartoons by terminating their satellite TV subscription.

Ben explained, “One of the biggest challenges I faced was expressing my views in Chinese. I remember my first meeting with the locals where I had so much difficulty finding the right words that I sat through the meeting without a word and jotted down my thoughts in English. I do not wish for my children to have to learn the hard way.”

For Ben, living in China has broadened his horizon and enriched his life experiences. He shared, “It is a great opportunity to live in a different environment and experience a totally different culture.” keppelite

Living in China has broadened and enriched life experiences for Ben and his family

38 empowering Lives


Tan Yoke Lan, a 63-year-old grandmother of six, made headlines during the recent SEA Games, not just for clinching one gold, two silver and two bronze medals at Bridge but more for her courage and grit. She was battling breast cancer even as she battled for Singapore.

It is an “extraordinary story of an ordinary woman, ordinary no more”, aptly described by her appreciative husband Mr Charles Foo, Director/Advisor of Keppel Offshore & Marine Technology Centre.

Two months before she was due to compete at the SEA Games, Yoke Lan discovered she had stage two breast cancer. She immediately underwent

bridge over troubled waters

a total mastectomy but deferred post treatment of chemotherapy so that she could attend the Games and not disappoint her team mates.

To keep her stamina up during the tournament which sometimes stretched up to 10 hours a day, the ‘iron woman’ boosted herself with health supplements and took frequent breaks in between rounds. She even chose to walk up to her hotel room on the sixth floor daily just to keep her fitness up.

Despite tremendous personal effort and sacrifice, she attributed her success to teamwork. In fact, Yoke Lan wants to connect with young people through

sharing her experience and encourage more to join the team. To achieve this, she is donating her reward from the Singapore National Olympic Council to sponsor and groom young Bridge players.

“Bridge is my passion. It has brought me to places around the world and I have made many good friends who share my love for the game,” Yoke Lan enthused. Her pursuit of the game over the last three decades has seen her play and win at regional and world championships in Philippines, Hong Kong, Beijing, New Zealand, Holland, Belgium and Portugal. When news broke on her clinching gold, she was moved by the deluge

of congratulatory SMS-es which streamed in from friends across the globe.

When asked how she bridges the home front and national service? She quipped, “I am a fast worker and do my housework late into night so that I can train the next day.” She was also quick to add that she has a most encouraging husband who said, “We all have our own and different interests. It is important to pursue our passions or our lives will be very mundane.” And although Mr Foo does not play the game, Yoke Lan commented that he was very good at making coffee and tea for her Bridge-playing friends.

It goes to show that behind the tough Keppel men are their equally passionate “better “ halves who, on top of being pillars of strength at home, also cultivate their own interests with the same zeal and determination.

Following the interview with Keppelite, Yoke Lan was leaving for her first chemotherapy session. She was a vision of calm as she assured, “Don’t worry, someone up there will take care of me.”

Keppelites wish her a speedy recovery and more medals ahead. keppelite

Mr Charles Foo with his ‘golden’ lady – Tan Yoke Lan who received a congratulatory bouquet for her win from Mr Choo Chiau Beng, CEO of Keppel Corporation

empowering Lives 39


Homeward boundThe Keppel-sponsored Singapore boat prepares for the awaited race home from Australia in the coming leg of the Clipper 11-12 race.

very exciting, I think my favourite part was when we were climbing up the fleet in the middle of the race; I really thought we had a good chance of being on the podium for a while. “Right from the outset we decided we were going to come back with a vengeance; we wouldn’t accept anything less than f i f th place,” explained Ben. “We made it and I was very impressed with how the crew mucked in and got involved.” Sher l yn Chen, a gap-year student and one of the ten round-the-world crew members on board Singapore, shared, “I think

we are very motivated to do well, to climb back up the leaderboard, because we know we belong in the top half of the fleet. We’ve done it and we’re all very pleased about that.”

Celina Chan, Senior Engineer from Keppel FELS, as well as Keppel Ambassador for the upcoming leg of the race, is full of nervous energy. She said, “Whenever I read the Clipper Race updates, I get really excited about being part of the competition. Though I do get j itters imagining how challenging the race might be, I remain very motivated to do my best in this once in a lifetime experience.” keppelite

Singapore secured a top five finish in the Gold Coast and is now on its way from Queensland to Singapore

Singapore, one of the ten yachts in the Clipper 11-12 Round the World Yacht Race, is on its way from Queensland, Australia, to Singapore. The team was in a buoyant mood, having beaten off stiff competition from its Chinese rival, Qingdao, to secure a top-five finish in the New Zealand-Gold Coast leg, after its two disappointing races earlier.

Exemplifying Keppel’s Can-Do! spir it, members of the Singapore crew had worked very hard to get their campaign back on track.

Ref lect ing on the race to Australia, Singapore’s skipper, Ben Bowley, said, “That was an absolutely cracking race for us. There was a lot of competition and it was anyone’s race right up until the last minute, which is all we’re after, really. It’s

Keppel Ambassador Celina Chan will compete in the upcoming leg of this ocean-crossing race where she will brave turbulent seas`

40 empowering Lives


Keppelite Recreation Club (KRC) organised a series of recreational and sporting activities in the months of November and December to build team spirit amongst Keppelites.

BOWlING FOR A CAUSeKRC members represented Keppel Corporation for the third time in the Special Olympics Unified Charity Bowl held on 26 November 2011 at Super Bowl Safra at Mount Faber.

In teaming up with special needs athletes to compete in ten-pin bowling, KRC members gained a better understanding of intellectual disability and appreciation for persons with such disabilities.

Keppel Corporation donated $1,500 towards the event,

Team Keppel

which was part of Special Olympics’ efforts to raise funds to support programmes that empower persons with intellectual disabilities to become physically fit and productive.

STRIKING CHORdSOn a separate occasion, 71 bowlers from across the Keppel Group gathered on 3 December 2011 for KRC’s year-end event , the Fun Bowl. Supporters cheered enthusiastically as participants in the four-game series conquered the lanes at the CDANS Club.

T h e d a y e n d e d w i t h many smiling faces as the participants and supporters tucked into a sumptuous buffet after an enjoyable day of bowling and bonding.

Daryl L im, Engineer at

Keppel FELS, walked away as the highest scorer of the day, with 227 points.

STRONG FINISHKRC’s dragon boat team participated in the 29th Singapore River Regatta, held over two days at Boat Quay from 26 to 27 November 2011.

Keppel Dragons fielded one Men’s Team in the 200-m Corporate Open Category, clocking a time of 73’17 seconds to emerge first in the heats.

T h e t e a m f o u g h t t h r o u g h r o u g h water conditions to come in third place with a timing of 69’34 seconds in the semi-finals.

Darryl Tai, Captain of Keppel Dragons, shared, “Having

trained consistently and with additional trainings three months prior to the race, the team put up a valiant fight to achieve these results.

Even though we did not make it to the finals for this race, I remain proud of the team’s efforts, hard work and determination, and believe that we will strive further to achieve better results.”

Keppe l i t e s i n t e re s t ed to join Keppel Dragons can contac t Dar ry l a t [email protected] or Olivia Lim at [email protected]. keppelite

KRC bowlers had a meaningful Saturday, bowling with special athletes Keppel Dragons persevered to maintain their lead at the heats of the 29th Singapore River Regatta

empowering Lives 41


Teams that play together, work together.

A huge t roop o f 200 employees from Keppel L a n d h i k e d u p F o r t Canning Park together on 18 November 2011. The inaugural mass walk was part of quarterly staff get - together act i v i t ies organised by the Staff Welfare Committee and Human Resources team to encourage staff bonding. While gett ing to know each other better, staff also benefited from the physical workout.

Walking our talkOver at K-REIT Asia, the team also came together on 6 December 2011 for a day of sea, sun and fun. The day started with an engaging networking lunch with the K-REIT Asia’s Board of Directors before heading to a kelong.

The team forged stronger bonds ove r games o f charade. They also had an educational tour of the kelong, learning about aquaculture in Singapore and fished to their hearts’ content. keppelite

Keppel Land’s quarterly staff get-together activities, such as the recent mass walk at Fort Canning Park, deepens camaraderie amongst employees

In 2011, Keppelites continued to make a difference to the lives of the disadvantaged

Doing our shareby donating generously to the Community Chest o f S i n g a p o r e . T h e i r

col lective contributions were recognised at the Community Chest Awards

Presentat ion Ceremony 2011. Keppel FELS was conferred the 5-Year Outstanding SHARE Platinum Award as well as SHARE Platinum Award. Keppel Singmarine too received the SHARE P lat inum Award whi le Keppel Logistics and Keppel Shipyard garnered SHARE Gold Awards. President Tony Tan presented the awards to the recipients at the Istana on 13 October 2011. keppelite

Keppel receives commendations for its contributions to the less fortunate: (from left) President Tony Tan and Mr Tong Chong Heong, CEO of Keppel Offshore & Marine

42 Nurturing Communities



Keys to a better life

Hearts overflowed with joy as 20 needy families received the keys to their new homes in the Keppel-GK Eco Village on 25 November 2011.

The ceremony, which took place amidst joyous cheers and well-wishes, concluded Phase 1 of the housing project jointly undertaken by Keppel, the charity organisation Gawad Kalinga (GK) and the local government of the Municipality of Bauan in Batangas, Philippines.

Resident and Community Organiser of the Eco Village, Rolilando M. Macalipay, shared, “With colourful houses and blossoming mango t rees , the Eco Village is a cheery living environment. I am so glad to have a home here. This is a healthy environment for my children to grow up in.”

Guest-of-honour, Bauan

Mayor Ryanh M. Dolor, s a i d , “ M y d e a r e s t beneficiaries, I appeal to you to please protect and maintain the peacefulness and magnificence of this community. My warmest gratitude to the joint forces of Keppel and Gawad Kalinga for helping to bring about the success of the Eco Village housing project.”

Keppel Batangas Shipyard l eads Keppe l G roup ’s efforts in the development of the estate. Keppel had provided seed funding for building materials and other construction needs. Its employees have actively volunteered in the building process. The local government had contributed the land for the development.

The Eco Village has also deepened social ties within the l o ca l commun i t y, bringing together volunteers

from schools including De La Salle -Lipa, Batangas State University, civic groups from Batangas and Lipa City as well as the Philippine Air Force.

At the ce remony, ten act ive volunteers were presented with certificates of appreciation. One of them was Chairman of host community Barangay Inicbulan, Maricho Ramos. He said, “We are very fortunate to have this community building project in our area. We are not just changing the landscape, we are changing lives. It is truly rewarding to be part of this transformation and witness the joy it brings to the beneficiaries.”

Active involvement in building their own homes has also led the beneficiaries to nurture a strong sense of belonging to their new community. To-

date, the 20 families have each poured some 1,000 man-hours at the Eco Village, while another 15 families have each contributed more than 500 man-hours.

Mr Stefan Tong, Executive Vice President of Keppel Philippines Marine, said, “Keppel is pleased with the opportunity to help drive such a meaningful project. I urge all of you to continue in your support for the Keppel-GK Eco Village. The second phase of construction has already started. We look forward to its completion in the first quarter of next year.

“With so many loving hands on deck, I am confident that this 60-unit Eco Village will not only significantly better the lives of its future residents, but also serve as an inspiration for community outreach.” keppelite

The first set of 20 families received keys to their new homes at the Keppel-GK Eco Village on 25 November 2011

Nurturing Communities 43


In support of Words on Wheels (WoW), a mobile library project, 15 Keppelites headed to Chuong My District in Hanoi, Vietnam, from 9 to 12 December 2011 to volunteer in the project.

WoW is sponsored by Keppel Land and managed in partnership with the Singapore International Foundation and the Hanoi

Window to the worldPublic Library. It aims to provide Hanoi’s v i l lage children with a window to the world by building up a culture of reading and self-learning, and to bridge the urban-rural resource divide.

Dur ing the i r v i s i t , the volunteers organised tele-matches, dances and indoor educational activities for the children, aged six to 13.

The trip left such a positive and memorable impression that several volunteers indicated their interest in future participation and were keen to rally the support of more colleagues.

Emmulin Wee, Executive, Investor Relat ions and Research, Keppel Land, s a i d , “ I t ha s been a fulfilling and heart-warming experience for me. As a Singaporean growing up in a different environment, it was humbling to see the Vietnamese children being so appreciative over our small gestures. The smiles on the children’s faces made all our efforts worthwhile.”

Echoing these sentiments, Gooi L inghuey, Project Engineer, Keppel FELS, said, “WoW has been a remarkable experience. I embarked on

this trip hoping to make a small difference to the lives of the Vietnamese children, but they taught me how to appreciate life and find joy in simplicity instead! It has been a touching journey and well worth all the efforts we have put in for the trip.”

Xu Youqing, Engineer, Keppel Energy, added, “To share the joy and excitement with the children by being a kid again was an entirely new experience which will remain as fond memories for many of us.”

Keppelites also donated over 300 pre-loved children’s books to the Hanoi Public Library, and stationery gift sets to a school. keppelite

Keppel Group organised its first overseas volunteer trip to Hanoi in support of Words on Wheels, Singapore’s first mobile library project in Vietnam




were given opportunities to experience and understand the need to create an accessible environment for the disabled and elderly.

MASSAGe THeRApySome 60 employees from Keppel Land enjoyed a mobile massage by members from the Singapore Association of the Visually Impaired on 7 December 2011. The massage activity was organised as part of Keppel Land’s quarterly lunch time activities and is a way in which Keppel Land supports worthy social causes.

GIFTS OF JOyOver in Braz i l , Keppel Singmarine Brasil made a donation to a local municipal school, Escola Municipal Izilda Reiser Mafra, in support of the school’s Christmas and New Year’s parties.

On 2 December 2011, some 200 students from the school were paid a surprise visit by Santa Claus who bore gifts that were prepared by employees of Keppel Singmarine Brasil.

Mr Tan Chong Kee, GM, Keppel Singmarine Brasil,

sa id , “At Keppe l , we always look to support the communities in which we operate. We are delighted to be able to contribute to this meaningful cause which gives our staff at Keppel Singmarine Brasil an opportunity to interact with the local community.” keppelite

As a responsible corporate citizen, Keppel supports worthy causes that help the disadvantaged. Across the globe, Keppelites are spreading good will and cheer to those who need it most.

WAlKING TAllKeppelites and beneficiaries from the Association for Persons with Special Needs (APSN), Keppel’s adopted charity, took to the streets on 26 November 2011, in a walkathon organised by the Children’s Charities Association (CCA).

The annual event, which comprises a 1.5km walk along Orchard Road and a fair, raises funds for more than 75,000 less fortunate children under the care of the CCA’s six member charities, including APSN.

RIddING BARRIeRSTo raise awareness of the physical barriers that the disabled face in their daily commute, and the importance of improving accessibility for the wheelchair-bound, K e p p e l C o r p o r a t i o n contributed $15,000 towards the Handicaps Welfare Association (HWA) Mobility Day on 3 December 2011 .

The event presented a platform where stakeholders in urban-planning and members of the public

Touching lives

Ms Indranee Rajah, MP for Tanjong Pagar/Tiong Bahru GRC (second from left) acknowledges Keppel’s support of the Handicaps Welfare Association Mobility Day 2011 by presenting a token of appreciation to Ms Cindy Lim, GM of Group Human Resources, Keppel Corporation (far left)

Keppel Singmarine Brasil’s employee Mr Nazareno Bett Dal Bo dressed up as Santa Claus and arrived with presents for school children in Navegantes



Warming heartsTrue to its tradition and in the spirit of the festive season, Keppel Volunteers led several activities in December 2011 to enrich the lives of the less fortunate.

COMFORTING pReSeNCeTo b r i n g c h e e r a n d friendship to needy elderly, and to improve their living conditions, Keppel Volunteers has been supporting a home maintenance programme in Telok Blangah district since July this year.

In addition to its regular efforts to spruce up the homes of the elderly, Keppel Volunteers organised the donat ion of new beds and mattresses to over 2 0 b e n e f i c i a r i e s o n 10 December 2011.

Madam Lim Ai Tee was all smiles when she received new beds sponsored by Keppel Offshore & Marine. As the 68-year-old had not been able to afford mattresses for herself and her mentally

Season of givingdisabled son, both mother and son had been sleeping on the floor in their one-room HDB rental apartment. With the new beds, the family can now look forward to more restful nights.

NURTURING HOpeKeppel Volunteers’ adopted charity, the Association for Persons with Special Needs (APSN), has been conducting bak ing c las ses fo r i t s beneficiaries, empowering them with practical skills to earn an income.

Supporting APSN’s efforts to inculcate self-reliance in its beneficiaries, Keppel Volunteers organised Bake Sales for the muffins and cookies prepared by the beneficiaries over the past few months.

At the most recent Bake Sale on 7 December 2011, over 150 boxes of chocolate chip cookies were sold, raising some $2,500 for the charity. keppelite

Keppel Volunteers stayed true to tradition, bringing cheer to needy elderly with its regular home maintenance programme

Keppel invited its friends to convey their well wishes to the Spastic Children’s Association of Singapore via an online portal

Well wishes, dedicated to the staff and children of the Spastic Children’s Association of Singapore (SCAS), adorn Keppel’s tree of good tidings online at www.kepcorp.com/ecard2011_kgroup.

The online site is part of Keppel ’s effort to spread the warmth of the ho l i day s to the

underprivileged. Through its year-end e-greeting card, Keppel had invited its friends to post a message at the site. In addition, the Group donated $20,000 to the SCAS to support rehabilitation programmes for children diagnosed with cerebral palsy.`


“I have been using ‘Bobble Bottle’ – a reusable water bottle that f i lters water as you drink – for almost two years now. I plan to continue using it in the future and will spread the green word by encouraging my

friends and family to use it too.”

Dejana DeljaninHR manager, Keppel Seghers UK

Hello to a greener 2012With a new year comes new resolutions. Keppelites across the Group share their green aspirations and actions for the new year to build a more sustainable future.

“I wi l l make a more conscientious effort to reuse, reduce and recycle, and encourage my friends and colleagues to do the same. By doing this, I hope to reduce our ‘waste footprint’ which according to National Environment

Agency is an average of 1,280 kilograms of waste per person in Singapore in 2010.”

Ethan QuekExecutive, Contracts, Keppel FMO, and Committee, Keppel Volunteers

“I intend to always have with me a reusable shopping bag. This will ensure that I can turn away plastic bags from grocery, departmental and convenience stores. According to the Singapore Environment Council, more than 2.5 billion plastic bags

are thrown away every year in Singapore! By using reusable bags, we can make a big difference to the amount of waste our society generates.”

Daphne NgHR Assistant, Group Human Resources, Keppel Corporation

“I make an effort to sort recyclable materials and use the recycling bins that are near my home. Recycling helps to conserve precious resources. Also, when a material is recycled into a new product, the process generally consumes less energy than when such products are made from raw materials.”

Yap Chor HianManager, Supply Chain Management, Keppel Logistics



“Energy conservation helps to reduce the consumption of fossil fuels , which in turn helps to minimise global warming. To do my part, I install energy saving lights at home, and apply the same principle at work through the use of energy

saving bulbs and sensors at Marina at Keppel Bay. For the new year, I look forward to adopting more green technologies at both places.”

Trevor Fong GM, Marina at Keppel Bay

“In 2012, I will step up my recycling efforts, even if I have to go out of my way to locate recycling points. Fortunately, the number of recycling stations in Singapore is set to increase. For example, instead of the present arrangement

of one bin for every five public housing blocks with weekly collection, there will be one recycling bin for every block.”

Gerard LimGraduate Engineer, Process Excellence, Keppel FELS

“Recycling plastic bottles is my 2012 mission. Plastic bottles are extremely ubiquitous these days. Everything and anything, f rom beverages and cooking ingredients to cosmetics and medicine, are sold in them. While they are useful, they are environmentally unfriendly

as most plastics are non-biodegradable and much end up taking up space in landfills for a long time.”

Loh Kee HuatGM, Prime Steelkit, and President, Keppel Young Leaders

“Emissions from motor vehicles are one of the largest sources of air pollution. Thus, we should all try to walk or cycle for short distances. If I am not rushing for time, I intend to make cycling my main

mode of transport. This plan allows me to protect the earth whilst keeping fit! ”

Yau Tuck WaiEngineer, Keppel Shipyard

“Eating meat results in a higher carbon footprint than eating non-meat products, so I plan to eat less meat and more vegetables. If the global population shifts to a low-meat diet, farmland would be freed up, and vegetation growing on this land would absorb more carbon dioxide. Millions of tonnes of methane, a potent greenhouse gas produced by cattle, would be prevented every year.”Grace Tan Executive, Corporate Development (Organisational Development), Keppel Integrated Engineering


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Keppel Offshore & Marine (Keppel O&M), through its subsidiary Fernvale Pte. Ltd., has secured a contract w o r t h a p p ro x i m a t e l y US$809 million from Urca Drilling B.V., a subsidiary of Sete Brasil Participações S.A. (Sete Brasil), for the design and construction of a semisubmersible (semi) drilling rig based on Keppel’s propr ietary DSS™ 38E design.

The DSS™ 38E i s an enhancement of Keppel’s proven fifth generation deepwater solution, the DSS™ 38. With improved capability and operability, it is designed to meet the stringent requirements of the deepwater “Golden Triangle” region, comprising Brazil, Africa and the Gulf of Mexico.

Scheduled for delivery in 4Q 2015, the rig is intended to support the exploration o f B r a z i l ’s e s t i m a t e d 50 billion barrels of deep-sea oil and gas reserves. Brazil is currently the world’s 11th largest oil producer and is expected to be in the top five by 2020. Its national oil company, Petrobras, has plans for $224 billion in capital expenditure from 2011 to 2015.

Keppel secures US$809 million contract for new DSS™ 38e rigThis brings Keppel Offshore & Marine’s new orders for the year-to-date to $9.8 billion.

Sete Brasil specialises in chartering drilling rigs for Brazil’s pre-salt exploration.

Mr Joao Carlos Ferraz, CEO of Sete Brasil, said, “Keppel designed rigs have an established track record of operating efficiently in their respective fields and we are confident that the DSS™ 38E rig will be well suited for offshore Brazil. As we grow our fleet of drilling rigs to meet the demands of our customers, partnering reliable shipyards which can deliver quality rigs on time and within budget is an imperative for us.”

Mr Chow Yew Yuen, Keppel O&M’s MD and President of the Americas said, “We are proud that our proprietary DSS™ 38E des ign has been chosen by Sete Brasil as their first semi. It is an enhancement of the design from our first two drilling rigs built for Brazil, Gold Star and Alpha Star.

“We are pleased to be able to partner Sete Brasil in developing drilling solutions for Brazil’s deepwater oil fields. Having delivered several key projects such as the P-52, P-51 and P-56 that have increased Brazil’s production capabilities, we

look forward to developing rigs that will further boost Brazil’s offshore dril l ing resources.

“Having a proven shipyard in Brazil also ensures that we are able to satisfy any local content requirements. With a suite of proprietary deepwater drilling rig designs and more than 30 years of experience participating in Brazil’s oil and gas industry, we aim to provide cost-effective and value-added propositions for Brazil’s offshore and marine industry.”

Jointly developed and owned by Keppel’s Deepwater

Technology Group and Marine Structure Consultants, the DSS™ 38E design is in the league of some of the world’s most advanced drilling semisubmersibles.

Keppel operates one of the most comprehensive shipyards, BrasFELS, in Brazil. The yard’s current projects include the repair and upgrade of Noble’s two Brazil-based drillships as well as the construction of the first Tension Leg Wellhead Platform (TLWP), P-61 for the Papa-Terra field in Brazil’s Campos Basin for Petrobras and Chevron. keppelite

Well suited for offshore Brazil, the DSS™ 38E is an enhancement of the design of Keppel’s first two drilling rigs built for Brazil, Gold Star and Alpha Star, (pictured above) which are successfully operating in offshore Brazil

eKeppelite 2011 Dec

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