Keppel Group Newsletter Keppelite · Keppelite I January 2012 Editorial An eye on the black swan...

Deepening community commitments

MICA (P) 041/01/2012

eppel

Keppel Group Newsletter

JANuAry 2012www.kepcorp.com/ekeppelite

KeppeliteStaying strong

together 7

Lessons from

a global leader 24

The Can-Do! boat

races home 31

Keppelite I January 2012

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

EditorOng Tze Haung

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, Lee Wan Jun, Maria Magdalena, Mohamed Yusof Mohamed, 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 GROWTHSteady performance outlook 4

Stable growth by K-Green Trust 5

Keppel T&T’s profit rises 38% 6

Staying strong together 7

Waterfront homes in Zhongshan 8

Model for waste management 9

Pulling in two decades of growth 10

New appointments 11

Reflections of an icon 12

Bolstering operations in Brazil 13

Delivering on preparedness 14

Exchange on excellence

Positive engagement 15

Portal push 16

Growing repute as world-class marina 17

SpeCIAL FOCUSWrapping up the year on a high note 18

26

12

eMpOWeRING LIVeSSpurred by innovation 22

Lessons from a global leader 24

Building up a career 25

Goodbye 2011, hello 2012! 26

Keppelites AbroadDrinking in a global experience 29

Selfless service 30

The Can-Do! boat races home 31

NURTURING COMMUNITIeSBlossoming community 32

Roar of the dragons 33

Caring hearts 34

Gift of life

Keppel VolunteersHomes and hearts on the mend 35

BACK pAGeTaking off on wind 36

22

Cover image: Making a difference – Keppel Volunteers touch lives through meaningful community engagement activities such as home maintenance projects for the elderly and underprivileged.


Editorial


An eye on the black swan

Black Friday this January had cast a grim pallor across world markets. It marked Standard & Poor’s unprecedented credit downgrading of nine European nations, stripping even France and Austria of their coveted triple-A status. The World Bank has also slashed global GDP forecasts and forewarned a second global crisis.

It is clear that conventional economic wisdom has fallen short in preparing us for present and future crises. No forecasting model had predicted the far-reaching impact of the subprime mortgage crisis sparked by the Lehman collapse in 2008.

Paradoxically, we see more and more “black swan” events – what risk managers call low probability and high impact events that are almost impossible to foretell.

Is this the new normal?

The recent chain of events has revealed the serious deficiencies and interdependencies of the global financial markets – the poison of any systemic failure in any important node of this closely knitted network can very rapidly spread its toxins.

It has become even more critical that we are able to identify, measure, mitigate and manage risks and their potential impact. This was echoed in findings by the Havard Business Review, based on a study showing that over two-thirds of some 1,419 business executives surveyed said risk management had become more important since the financial crisis.

While the role of risk management has heightened for organisations and businesses, there is no fail-proof formula for anticipating how risk cascades through a company. Events in one part of the global and dynamic economy may trigger reactions in seemingly unrelated areas.

This same view was echoed in the Global Risks 2012 report released during the recent World Economic Forum in Davos. The report highlighted

the complexity of the issues and the prevalence of emerging unanticipated risks. As Steve Wilson, Chief Risk Officer of General Insurance from Zurich, commented, “Connected systems that we thought mitigate risk are actually concentrating risk, and these are risks that we do not fully understand yet.”

From natural disasters, industrial accidents to economic volatility, Keppel has weathered many crises through the decades. Despite our best efforts, we, like other companies, are not impervious to unexpected threats. Even as the Group’s span across over 30 countries reflecting our scale and strength, it also inevitably exposes us to risks and vulnerabilities.

We continue to put in place safeguards to stand us in good stead. Rigorous and disciplined risk management has always been a vital mandate for our businesses worldwide. We continually stay abreast with the changing environment while strengthening our risk management culture and practices across the Group.

One of the ways in which Keppel’s Group Risk Management team achieves this is through conducting regular training for our key executives (read about a recent workshop for our Brazilian yards on page 13).

Beyond a framework of processes and procedures, effective risk management is necessarily a function of a vigilant and united team with a good nose to the ground and a commitment to overcome challenges.

American President Theodore Roosevelt once said that, “Risk is like fire: If controlled it will help you; if uncontrolled it will rise up and destroy you.” At Keppel, we will harness the “fire” of Keppelites‘ passion to spot and slay the black swans.

4 Sustaining Growth


4 Sustaining Growth

K-REIT Asia achieved a distributable income of approximately $113.0 million for FY2011, an increase of 31.9% compared to the same period in 2010. This resulted from a higher share of profits from BFC Development P te L td (BFCDPL ) and One Raffles Quay Pte Ltd (ORQPL) which own Marina Bay Financial Centre Towers 1 & 2 and Marina Bay Link Mall, and One Raffles Quay respectively, as well as higher interest income. The share of profits from BFCDPL and ORQPL grew by 285.7% to approximately $37.4 million while interest income increased by 91.2% to $23 million.

N e t p ro p e r t y i n c o m e (NPI) declined 8.4% from $67.3 million for FY2010 to $61.7 million for FY2011 due mainly to the divestment of Keppel Towers and GE Tower in December 2010 which was offset by the NPI contr ibutions from properties acquired in 2010 and 2011.

Distribution per unit (DPU) f o r F Y 2 0 1 1 s t o o d a t 7.08 cents. This is 11.1% higher than the DPU of 6.37 cents achieved in FY2010 and 6.0% higher than the 6.68 cents DPU forecast published in the Circular to Unitholders on 8 N o v e m b e r 2 0 1 0 . Unitholders will receive a

Steady performance outlook

DPU of 2.45 cents for 2H 2011 on 24 February 2012.

VALUeD ASSeTK-REIT Asia successfully completed the acquisition of an approximate 87.5% interest in Ocean Financial Centre (OFC) on 14 December 2011. Completed in April 2011, OFC is a landmark 43-storey office tower located in the heart of Singapore’s CBD. Since completion of the acquisition, an additional 5% of the building’s net lettable area (NLA) has been leased out, bringing OFC’s occupancy has increased to nearly 85%.

WeLL-BALANCeD pORTFOLIO pROFILeAs at 31 December 2011, K-REIT As ia’s portfo l io occupancy remained healthy at approximately 94.1%. The Singapore portfolio occupancy was 93.9% compared with the core CBD occupancy rate of 91.2%.

Approx imate ly 57 ,600 square feet or 2.2% of K-REIT Asia’s total portfolio NLA will be due for rent review and renewal in 2012. The weighted average lease term to expiry (WALE) for the portfolio and the top ten

tenants stood at 6.7 years and 8.2 years respectively.

ReADY TO RIDe OUT UNCeRTAINTIeSK-RE I T As i a ’s hea l thy p o r t f o l i o o c c u p a n c y, well-staggered lease profile as well as prudent capital management put i t in good stead to weather the economic uncertainties in the year ahead. Its long portfolio WALE will mitigate K-REIT Asia’s downside risks in a potential market downtrend in 2012. keppelite

K-REIT Asia completed the acquisition of an approximate 87.5% interest in Ocean Financial Centre


Sustaining Growth 5

K-Green Trust (KGT) posted a net profit of $16.0 million for the full year (FY) which ended 31 December 2011, 17.3% higher than i ts projection of $13.6 million. Earnings per unit for 2011 was 2.54 cents and net asset value per unit as at 31 December 2011 was $1.11.

Distribution per unit (DPU) for

Stable growth by K-Green Trust2H 2011 will be 4.69 cents, 8.8% higher than the DPU paid in the corresponding period last year from 29 June to 31 December 2010.

Together with the distribution of 3.13 cents per unit for the period from 1 January to 30 June 2011, total cash distribution for FY 2011 will be 7.82 cents to achieve a distribution yield of 8.6% based on unit closing price

of $0.905 on 31 December 2011.

Revenue for the year was $90.6 million, 17.9% higher than the projected figure of $76.8 million. This was mainly due to $10.1 million higher recognition of construction revenue, following a shift in schedule of the flue gas upgrading works for the Senoko Waste-to-Energy (WTE) Plant from FY2010

to FY2011. The flue gas treatment facilities upgrade project is on track to meet the scheduled completion by June this year.

Mr Thomas Pang, CEO of Keppel Infrastructure Fund Management, the Trustee-Manager of KGT, said, “KGT has achieved good performance in 2011. In 2012, we will focus on acquisitions in areas of waste management, water treatment, renewable energy and energy eff ic iency, including assets which were identified under the Rights of First Refusal, as well as asset enhancement opportunities in our existing portfolio.

“We are committed to drive growth and to deliver stable, predictable and reliable distributions for our unitholders.”

KGT currently owns the Senoko WTE Plant, the Keppel Seghers Tuas WTE Plant and the Keppel Seghers Ulu Pandan NEWater Plant. The underlying performance of these three assets in its portfolio is expected to remain stable as all three assets have long-term concession agreements with Singapore statutory bodies, namely, the National Environment Agency and PUB. keppelite

The flue gas treatment upgrade project at Senoko WTE plant is on schedule

6 Sustaining Growth


Keppel Telecommunications & Transportation’s (Keppel T&T ) ne t p ro f i t a f t e r exceptional items attributable to shareholders for the full year (FY) which ended 31 December 2011 jumped 38% to $79.4 mi l l ion, compared to $57.6 million in FY2010.

Revenue rose 10% to $118.1 million compared to last year’s $107.8 million due to higher revenue generated by the data centre division.

Keppel T&T’s profit rises 38%Earnings per share (after e xcep t iona l i t ems ) o f 14.4 cents increased 39% compared to 10.4 cents a year earlier.

The board has recommended a first and final dividend of 3.5 cents per share, for approval by shareholders at the next Annual General Meeting.

Net asset value per ordinary s h a r e g r e w 1 5 % t o 71.0 cents per share ,

Keppel T&T will continue to seek out opportunities to expand its logistics business

compared to 62.0 cents in FY2010.

Looking ahead, Keppel T&T will strive to maintain high occupancy in its logistics facilities across Guangdong and South East Asia. Its data centres are enjoying h igh occupancy in i t s current facilities.

Mr Pang Hee Hon, CEO of Keppel T&T, said, “We are pleased to achieve c red i t ab l e re su l t s fo r

our shareho lders . The expansion plans that we have embarked on wil l serve to position us for further growth.

“Amidst the uncerta in global outlook, Keppel T&T will continue to seek out opportunities to expand its logistics business, as well as to develop and acquire high-quality data centre assets.” keppelite


Sustaining Growth 7

2011 was a good year for Keppel Offshore & Marine (Keppel O&M), hav ing secured a record $10 billion worth of new orders. While the year turned out better-than-expected, there are uncertainties and challenges lurking on the horizon.

At the annual Keppel O&M strategy meeting held on 17 January 2012, senior executives from across the world gathered to brainstorm and share perspect ives on the way forward for the Group.

Mr Choo Chiau Beng, CEO of Keppel Corporation and Chairman of Keppel O&M, kicked off the meeting with a sombre message.

Staying strong togetherThis year, the key focus for the Keppel Offshore & Marine strategy meeting was to seek ways to further harness the Group’s collective strength to enhance competitiveness.

He shared that while the Group has done well so far, the global and industry outlook is becoming more difficult and will impact the Group’s business.

M r C h o o r e m i n d e d Keppelites at the meeting that that they will need to push ahead with the Group’s productivity drive, and to ensure our systems and processes continue to serve the company well to deliver all projects on time and within budget.

Strengthening safety was another area which Mr Choo addressed extensively. “We must remember that we are responsible for everyone working in our yards, and

that we must stress that all accidents are preventable,” emphasised Mr Choo.

Over the years, Keppel O&M has purposefully and thoughtfully expanded its network of yards in line with its “Near Market, Near Customer” strategy.

With more local content requirements by national oil companies, Keppel O&M is well-positioned to harness the collective strength of its network to better meet customers’ needs.

Mr Tong Chong Heong, CEO of Keppel O&M, commented, “Together, we are a force to be reckoned with. The key is how to make the team work

better together. We need to continue with our cross-poll ination programme, w h e re e x p e r t i s e a n d experiences are proactively and meaningfully shared among our different yards. To make our strategy work, we also need to train and g room our work fo rce to take the Group to a higher level.”

T h ro u g h o u t t h e d a y, p r o p o s a l s a n d recommendations were a i r e d a m i d s t r o b u s t discussions. All agreed that while there are challenges ahead, as long as Keppel O&M steadfastly focused o n s t r e n g t h e n i n g i t s competitive edge, the Group will emerge stronger. keppelite

8 Sustaining Growth


K e p p e l L a n d C h i n a ’s integrated residential-cum-marina lifestyle development in Zhongshan is raising benchmarks in waterfront living.

The development has been named the Most Anticipated Project by the Guangzhou Daily at the Pearl River Delta Property Awards 2011.

F r o n t i n g t h e w e l l -known Xijiang River, the development’s winning features include its channels and waterways, which will make up about 30% of the total land area for

Waterfront homes in Zhongshanprivate berthing of yachts, a c lubhouse, a sa i l ing academy, and comprehensive recreational facilities for a luxurious and complete waterfront living.

In January 2012, Keppel Land China increased the land area for the integrated deve lopment wi th the acquisition of an additional 3.4-hectare (ha) site with a 292-metre coastline.

The new site will be integrated into the existing 86-ha site, which was acquired in April 2008 and September 2010. The phased acquisition for

the entire site was carried out through Sunsea Yacht Club (Zhongshan), of which Keppel Land China has an effective 80% stake through its wholly-owned subsidiary, Keppe l Ch ina Mar ina Holdings.

Mr Ang Wee Gee, Executive Vice Chairman of Keppel Land China, said, “The strategic acquisition of this site reinforces our vision to build iconic and luxurious waterfront properties in China. We are confident t h a t t h e s e e x c l u s i v e waterf ront homes wi l l be highly sought after by

discerning buyers who apprec i a te i n teg ra ted developments that meet their lifestyle needs.

“ T h e l o n g - t e r m fundamentals for China’s property market remain positive, driven by strong home ownership aspirations, fast rising affluence and the nation’s position as one of the world’s engines of growth. We will continue to build on our reputation as a lead ing proper ty developer, leveraging our st rong track record in delivering premier homes in good locations.”


Sustaining Growth 9

Model for waste managementOn 17 January 2012, Keppel Integrated Engineering hosted the Ambassador of the Republic of Chile, HE Luis Fernando Danús, and the Deputy Chief of Mission from the Embassy of Chile, Mr Mauricio Hurtado at the Keppel Seghers Tuas WTE plant.

HE Fernando was interested to learn about Keppel’s WTE technology as the Chi lean government is studying the feasibility of implementing WTE projects in the country.

Mr Lim Chiow Giap, Senior GM (Special Projects), KIE and Mr Venkat Patnaik, GM of Plant Operations for Keppel Seghers Tuas WTE Plant and Senoko WTE Plant, led the Chilean officials on a tour of

Mr Venkat Patnaik, GM of Plant Operations for Keppel Seghers Tuas and Senoko WTE plants (left) explains the operations of the plant to HE Luis Fernando Danús (centre), while Mr Lim Chiow Giap, Senior GM (Special Projects), KIE looks on

When completed in 2019, the entire 89.4-ha integrated lifestyle development will feature 1,762 waterfront villas with private berths and waterfront apartments. The first edition of the waterfront homes is expected to be launched in early-2014.

Mo Dao Island, where the development is located, plays a critical part in Zhongshan’s ove ra l l mas te rp lan to transform the area into an exclusive residential

and commercial enclave complete with leisure and marina facilities.

Zhongshan is known as one of the “Four Little Tigers” in Guangdong, and its government is focused on infrastructure development, including acceleration of main road network construction, road construction in major transport facilities such as railway, ports and airports, as well as inter-city and intra-city road construction.

Res idents o f the new development would be about 35 km, or a 20-minute drive, to Zhongshan’s city centre and would be well-connected by air, sea and land infrastructure. The development enjoys access to six international and domestic airports within a 100-km radius, a well-established network of ferry services to Hong Kong and Macau as well as a convenient road network that links to major expressways.

Residents will also benefit from the development’s connectivity and accessibility to the future Hong Kong-Macau-Zhuhai bridge, as well as a bridge and/or tunnel between Shenzhen and Zhongshan, which is being considered. The last stretch of rail from Guangzhou to Zhuhai is also in the final stage of completion. keppelite

the plant, and introduced the merits of WTE technology as a sustainable and proven waste management solution.

The officials were also keen to gain an understanding of S ingapore’s Pub l i c -Private Partnership (PPP) arrangements in delivering environmental services. PPP as a mode of procurement allows the public sector to acquire services at the most cost-effective basis, rather than directly owning and operating the assets.

The Keppel Seghers Tuas WTE Plant is Singapore’s fifth incineration plant to be built, and the first under the National Environment Agency’s PPP initiative. keppelite

Singapore’s approach to waste management, which makes use of industry-leading solutions such as Keppel

Seghers’ waste-to-energy (WTE) technology, stands as an international model that is widely sought after.

10 Sustaining Growth


Keppel Smit Towage (KST), a joint venture between Keppel Shipyard and SMIT Singapore Pte Ltd, has grown in scale over the last two decades. From a small local company, it has established itself as a trusted name for marine towage services in the Asia-Pacific region.

O p e r a t i n g a f l e e t o f 60 robust versatile harbour tugs, KST’s services span harbour towage, ocean towage, offshore support and salvage. The company currently has a 30% market share in Singapore, and is active in markets such as Indonesia, Malaysia, Australia, Diego Garcia, India and Brunei.

On 23 December 2011, the company celebrated its 20th anniversary with its customers and business partners. Addressing the dinner guests, Mr Choo C h i a u B e n g , C E O o f Keppel Corporation and C h a i r m a n o f K e p p e l Offshore & Marine, noted, “On this special occasion, we not only commemorate Keppe l Smi t Towage’s growth over the years, but also celebrate the many men and women behind its success.

“People make a company, and KST is backed by a uni ted and pass ionate

Pulling in two decades of growthteam led by Ben Chew and Jerry Wong.”

To ensure operat iona l exce l lence, KST draws on Keppel’s expertise in designing, engineering and building tugs, and SMIT’s experience in managing and operating the towage vessels.

Elaborating on KST’s business strategy, Mr Loek Kullberg, MD of SMIT International’s H a r b o u r To w a g e a n d Terminals division, said, “The strategy was based on that of Singapore Airlines: new equipment and service with a smile.”

He added, “There has been strong investment in new equipment and the quality of the services provided is guaranteed, not least because most of the tugs are built at K e p p e l ’s f i r s t - c l a s s yards.”

During the celebratory dinner, Mr Kullberg also announced that the tug Kejora Enam had been conferred the coveted SMIT 2011 Corporate Fleet Survey Award, which is given to the best performing tug crew and organisation in SMIT Group. Kejora Enam is owned and managed by Kejora Resources Sdn Bhd, a KST joint venture in Malaysia.

In addition, it was shared at the dinner that KST, through a joint venture corporation, wil l operate in Dafeng, China. The company will also be stepping up activities in Nantong.

As KST enters its third decade of growth, it will hold fast to its commitment to provide its customers with safe, efficient and value-added services. keppelite

Management of Keppel and SMIT celebrate Keppel Smit Towage’s two decades of achievements

Together with business partners and customers, Keppel Smit Towage celebrate its 20th anniversary


Sustaining Growth 11

in large scale engineering projects across different industries will stand him in good stead. I am confident that he will be able to rise to the challenges in this new role and contribute significantly to the growth of KIE’s envi ronmental engineering business.”

P r i o r t o j o i n i n g K I E , Mr Waterhouse, 41, was Assoc ia te P r inc ipa l a t McKinsey & Co. Singapore w h e r e h e p r o v i d e d c o n s u l t a n c y s e r v i c e s focusing on capital project management & operational improvement.

He graduated with a LLB Honours (Upper Second) f rom the Univers i ty of Liverpool in the UK and was admitted as a Barrister

New appointments

of Law at Lincoln’s Inn in the UK.

Separately, Mr John Birchall, Director of Safety, Keppel Land, has been appointed to assume the roles of Secretary to Keppel Corporation’s Board Safety Committee and Coordinator for Group Safety with effect from 1 February 2012. Mr Birchall takes over from Mr Chandru Sirumal Rajwani for both roles. Mr Birchall has over 20 years of experience as a Safety Practitioner, is a Chartered Member of the Institution of Occupational Safety and Health (CMIOSH) and a Director-Districts for the Singapore branch.

To re inforce corporate stability and operational agility, Keppel Land has

set up a Risk Management U n i t w h i c h f o c u s e s explicitly on enhancing the group’s risk management culture and strategy. Ms April Chang, formerly Assistant GM, Asset Management of Keppel Land China, will lead the team as Head, Risk Management, Keppel Land with effect from 1 February 2012.

In addition, Mr Bernard Kong, who has more than 25 years of experience in the property and re lated indust r ies including a four year stint with a property developer in Ind ia , has rep laced M r P e t e r C h e w a s President (India and Middle East ) with effect f rom 9 January 2012. keppelite

Ms April Chang Mr Bernard KongMr Matthew Waterhouse

K e p p e l I n t e g r a t e d Eng inee r ing (K IE ) has appointed Mr Matthew Waterhouse to the newly-c rea ted ro le o f Ch ie f Operating Officer (COO) with effect from 25 January 2012.

Reporting directly to BG (NS) Tay Lim Heng, CEO of KIE, Mr Waterhouse will be responsible for the operational leadership of KIE’s projects, including enhancing service delivery to clients by improving internal operations and ensuring t imely del ivery for key projects. To be based in Qatar initially, he will focus on the ongoing water treatment project there.

BG (NS) Tay said, “Matthew’s international experience

Mr John Birchall



reflections of an iconIn a recent interview with Channel NewsAsia, Mr Augustine Tan, President, Singapore (residential) of Keppel Land, shared on the making of the iconic reflections at Keppel Bay with master architect Daniel Libeskind, and how Keppel Land is raising the benchmarks of prime waterfront properties. Keppelite shares excerpts from the documentary, Singapore Property Explored, Examined, Deconstructed.

The iconic Reflections at Keppel Bay redefines waterfront living in Asia

What were the motivations behind getting Daniel Libeskind to undertake this project?Our vision for Keppel Bay is t o b e a w o r l d - c l a s s waterfront precinct which

will put Singapore on the world’s prime real estate map.

It has to be a project that more than justif ies the location. Keppel Bay has a strategic locat ion at

the southern precinct of Singapore and can be seen visibly from most parts of Singapore. We wanted a project that is not only marketable, but will have t he be s t q ua l i t y a n d contribute to Singapore’s

landscape. With these high expectations, we felt that we would tap on the expertise of foreign architects.

How did you manage to invite Daniel Libeskind to develop Reflections at Keppel Bay? We were introduced to Daniel by our joint venture partner during the bid proposal for the Integrated Resorts at Marina Bay. We were not successful then but we were very happy with Daniel’s performance. We actually considered a few other foreign architects, but we felt that his enthusiasm and passion put him above the rest.

We were confident that Daniel was able to transform the vision we had to reality, for a quality iconic project t ha t i s s t unn ing and attractive to both residents and investors.

What do you think are some of the advantages and disadvantages of hiring a foreign architect over a local one?Engaging a foreign architect is not necessarily at the detriment of local architects. In fact, local architects



contribute very much to the usability of the space.

When we first spoke to Daniel about this project, he was equally excited given that this is his flagship project in Asia. That being the case, we assembled a team of local consultants, ranging from local architects, interior designers to structural engineers to advise him on the local regulations and standards, and to work closely with him. Everyone plays a crucial role to make sure that our v is ion is brought to fruition.

Good foreign architects contr ibute not only to

the project but also to Singapore’s skyl ine. As Singapore becomes more affluent and globalised, we are increasingly compared against other countries. Mar ina Bay Sands has a t t r a c t ed qu i t e a b i t of interest, and I believe Reflections at Keppel Bay would certainly attract the same level of interest from tourists, foreigners and locals alike.

There are some criticisms on the ground, especially from local architects who say that developments like these look iconic on the outside, but are in fact not necessarily very

sensible. What is your defense to that?I cannot comment on other developments, but certainly for our developments, whenever we appoint foreign architects, we ensure that our objectives are met.

There is teamwork and contributions from our local consultants to ensure that it does not only look stunning on the outside, but is also practical and usable for residents.

There have also been criticisms that Singaporeans are in the losing end when star architects are invited

to develop residential projects as it pushes the prices up. This is a definitive no. All the stakeholders involved in this design development, including foreign and local architects, consultants and the contractor, all benefit from the same pie. It is a win-win situation.

Foreign architects come here with their know-how, technology and creativity. These are qualities that local architects can learn and in the process, enhance their knowledge and expertise. keppelite

Overseas-based operations inevitably face risks and vulnerabilities ensuing from local laws, environmental, health and safety issues and competitive pressures.

To bolster the enterprise risk management framework and practices at Keppel’s operations in Brazil where it has a sizeable presence, K e p p e l C o r p o r a t i o n ’s Group Risk Management department conducted Enterprise Risk Management ( E R M ) a n d B u s i n e s s Continuity Management (BCM) workshops for Keppel FELS Brasi l and Keppel Singmarine (KSM) Brasil in December 2011.

Bolstering operations in BrazilThe purpose was two-fold – to help implement a systematic process for identifying company risks and to foster a risk-centric culture through enhancing risk awareness and building risk competency. The workshops also helped management to identify key threats and mit igat ions to address potential disruptions.

For Mr Kwok Kai Choong, President & CEO of Keppel FELS Brasil, “The workshop has brought about a heightened awareness and bet te r appreciation of the need for a clear understanding of the unique business risks in the operating environment and

the importance of mapping out effective actions to mitigate such risks.”

Mr Tan Chong Kee, GM of KSM Brasil also added, “We have gained an in-depth understanding of ERM and BCM processes and their importance for the

sustainability of a successful enterpr ise. Adopting a systematic approach in risk management will enable us to better manage risks in our business operations, espec ia l l y in th i s new business environment for KSM Brasil.” keppelite

Keppel Corporation’s Group Risk Management team and colleagues in Brazil exchange insights on risk management and business continuity management



Delivering critical information and corporate messages in a timely, coherent and credible manner during a crisis can help protect lives, operations and reputation.

To equip spokespersons with the skills to effectively deliver

Delivering on preparednessresponses that are in line with the company’s values and key messages in the event of a crisis, Keppel C o r p o r a t i o n ’s G r o u p Corporate Communications and Group Human Resources departments organised a crisis communications workshop for

Keppel Energy’s management on 17 January 2012.

Participants were given operational and corporate crisis scenarios specific to the business and had their media-handling skills tested and honed.

Mr Nicholas Lai, GM (Asset Management) of Keppel Ene rgy, sha red , “The workshop was practical in its approach and we benefited by learning from seasoned professionals. It was definitely time well spent.” keppelite

Keppel Energy’s management in a mock press conference

Headquartered in Houston, Schlumberger Limited is the world’s leading oilfield services company supplying technology, information solutions and integrated p r o j e c t m a n a g e m e n t that optimise reservoir performance for customers working in the oil and gas industry. keppelite

Robust Quality, Health, Safety & Environment (QHSE) systems help companies achieve a strong performance culture in a holistic manner as well as improve all phases of its processes.

T h i s w a s s h a r e d b y Ms Hinda Gharbi, President of Schlumberger Asia with K e p p e l m a n a g e m e n t , safety champions and lead assessors on 20 January 2012. She had been invited to share Schlumberger’s QHSE success story.

Exchange on excellenceDr Panos Cavou lacos , Schlumberger Bus iness Consulting’s MD for Asia, also presented on how the company works with oil and gas partners and clients to put in place QHSE programmes and tools.

Dr Lee Boon Yang, Chairman of Keppel Corporation, Mr Sven Bang Ul l r ing, Chairman of the Keppel Corporation Board Safety Committee, Mr Tong Chong Heong, CEO of Keppel Offshore & Marine and

Mr Lim Chin Leong, Member of the Board of Directors of Keppel Offshore & Marine and former Chairman of Schlumberger Asia were among the 50 participants w h o a t t e n d e d t h e discussion.

The sharing of Schlumberger’s best practices and open exchange of views enabled Keppelites to distill insights and valuable lessons, and reinforced the importance of high safety standards and values.



Through two separate forums in December 2011 and January 2012, young talents gained insights into the Group and senior management learned about how changing habitual tendencies can lead to greater success in life.

eNGAGING YOUNG TALeNTSTa lent ime i s a regular platform organised for young talents, including high potentials, scholars, management trainees and graduate engineers, to meet with senior management and chat about their aspirations, feedback and suggestions for the Group.

The third run of Talentime saw 22 enthusiastic young Keppelites from across the Group gather at Keppel Corporation’s head office on 15 December 2011.

Positive engagementC h a i r e d b y K e p p e l Corporation CEO Mr Choo Chiau Beng and Keppel Corporation Senior Executive Director Mr Tong Chong Heong, the session provided an opportunity for senior management and new h i r e s t o s h a r e t h e i r experiences and engage in active discussion.

Mr Choo shared with the participants that for them to build a strong foundation for a long-term career in Keppel, it is pertinent that they try out various roles and participate in a range of act iv i t ies . I t i s a lso important to have the push to work outside one’s comfort zone.

Angie Ang, Management Trainee from Keppel Energy, shared, “Having joined Keppel for only a few months, I found the session

very interesting. It provided us with a p latform to s h a re w h a t w e h a v e experienced since joining Keppel, as well as what we hope to achieve in days ahead. It also enabled us to tap on the experience and wisdom of sen ior management.”

pOSITIVITY FROM WITHIN“Don’t marry a jerk” is one piece of good advice by many a successful woman in the corporate sector. Dr Mary Ann Mason shared this and other nuggets of wisdom from a book she co-authored entitled “Mothers on the Fast Track: How a New Generation Can Balance Family and Careers” with Keppel’s senior management. The talk was part of an in-house forum organised by Group HR on 18 January 2012.

Dr Mary Ann Mason speaking to Keppel’s senior management on how to harness the talent of mothers

Dr Mason was joined by Dr Paul Ekman who shared their research and insights on how changing habitual tendencies can lead to growth, success and a greater fulfillment in life.

N a m e d o n e o f T i m e Magaz ine ’s 100 Mos t Influential People in 2009, Dr Ekman is a renowned expert and pioneer in the study of emotions. He shared that the sooner one recognises an emotion, the more choices one will have in dealing with it, which can in turn help improve one’s emotional balance in a high pressure job.

Keppel’s senior management gained insights on how to harness positivity to engage talents and promote a more conducive work environment. keppelite



Function and flair – 28 teams in Keppel Land focused on demonstrating these qualities as they vied for the K2Portal Best Website Award 2011. It was the second intranet website competition to be held in Keppel Land, with the first back in December 2009.

The contest was an innovative ploy to spur the optimal adoption of the internal-use portal and recognise the efforts of departments that have leveraged the K2Portal to collaborate and share information.

Conceptualised as early as in 2005, the portal was set up to retain organisational knowledge and serve as an easy-to-use platform for information dissemination and communication across the cyberspace.

Mr Kevin Chua, Head of Keppel Land IT, reiterated, “We are heartened by the enthusiastic response, spanning from our local S ingapore off i ces and s u b s i d i a r i e s t o t h e international operations. Over t ime and effor t , our people have come to embrace and even enjoy the K2Portal as a platform for knowledge sharing and collaboration.”

For two months, portal administrators from across

Portal push

the Keppel Land group attended in-house trainings, design workshop and one-to-one consultancy with the IT team to spruce up their designs and content layouts. Creative ideas spawned from leveraging concepts from Apple’s iPad, the Google Search Engine and other modern gadgetry. Competition was so rife that some teams kept the faces of their portal sites a secret by releasing them only in the last few days of the competition.

F i v e f i n a l i s t s w e r e shortlisted by a panel of

judges before online voting by staff. Impressed guest judge, Teri Liew, Deputy GM of Group Corporate Communications, Keppel Corporation, commented, ”I was energised by the creativity and thought put in by the teams on their portal s ites. They were so attractive and easy to nav igate that you are encouraged to use them in spite of some of the heavy content.”

Speaking for the award winner, Desmond Wong, GM of Property Management of Keppel Land China Limited,

said, “For our newly set up Keppel Land China Portal, we place special emphasis on using it, not only to share technical knowledge but also as a decision making tool for new ventures and future projects. We want the right knowledge to reach the right people at the right time for better organisational performance.” keppelite

The winning design in the K2Portal Best Website Award 2011



From the United Kingdom to the United Arab Emirates, Marina at Keppel Bay’s (MKB) reputat ion as a w o r l d - c l a s s m a r i n a destination continues to spread internat iona l ly, especially following the launch of its own iPhone app.

Connecting with customersMKB launched Singapore’s first marina-centric iPhone app, MarinaKB SG back in October 2011 and has since garnered some 3,500 downloads , ex tend ing awareness of the Marina to over 45 countries such as the United States, United Kingdom, Czech Republic, Latvia, Switzerland and United Arab Emirates.

Mr Trevor Fong, GM of MKB, said, “We are very pleased with how far this application has traversed. Technology, when properly harnessed, does indeed do wonders; MKB’s name has gone beyond the borders of the Asia-Pacific, and is a strong testament to our marketing efforts. This platform has resulted in cost savings, and has allowed us to better connect with our members, guests and marinas globally.”

Users of MarinaKB SG enjoy a device-based loyalty programme which makes use of QR code recognition

Growing repute as world-class marinato accrue discounts and privileges each time they visit the marina. Whether they wine and dine at the F&B outlets, charter selected luxury yachts or sign up for sailing courses with the Royal Yachting Assoc ia t ion-accred i ted Keppel Bay Sailing Academy, users can redeem rewards such as wine vouchers, rebates, set lunches, cruises and more.

Search MarinaKB SG in the Apple App Store now!

HOpe COMeS ASHOReIn January 2012, the Marina a lso hosted MV Logos Hope, a missionary vessel operated by GBA Ships, a German charitable Christian organisation.

Management and staff of MKB warmly welcomed m o re t h a n 4 0 0 c re w and their family members a s h o r e w h e n t h e 12,000-tonne megaship berthed alongside Keppel Island Plaza.

MarinaKB SG, developed by Marina at Keppel Bay, has garnered almost 3,500 downloads since its launch

MV Logos Hope, which transports supplies and voluntary help to needy people globally, has touched lives in over 160 countries including far-flung locales such as Cape Verde, Ghana and Trinidad and Tobago.

In support of its charitable miss ion, MKB part ia l ly sponsored the berthing of MV Logos Hope during its stay. keppelite

18 Special Focus


Keppel Offshore & Marine (Keppel O&M), through i ts subs id iar ies Keppel S i n g m a r i n e ( K e p p e l Singmarine) and Keppel Verolme BV (Keppel Verolme), wrapped up 2011 with new contracts totall ing S $ 1 5 0 m i l l i o n f r o m international customers.The se con t r a c t s t ook Keppel O&M’s new orders for 2011 to reach the S$10 billion milestone.

Keppel Singmarine, the specialised shipbuilding

Wrapping up the year on a high noteKeppel Offshore & Marine closes 2011 with a total of S$10 billion worth of new orders and begins 2012 with a new contract win.

division of Keppel O&M, has entered into contracts fo r the bu i ld ing o f a 91-metre container vessel and three 4000 DWT bulk ore/fuel carriers for Papua New Guinea customer Ok Tedi Mining Limited ( O k Te d i M i n i n g ) , whi le Keppel Verolme, K e p p e l O & M ’ s comprehensive yard in the Netherlands, is undertaking u p g r a d i n g a c t i v i t i e s o f a sem i submer s ib l e drill ing rig, Scarabeo 6, f o r I t a l i a n c u s t o m e r

Saipem Misr for Petroleu Services S.A.E. (Saipem).

Mr Chow Yew Yuen, MD of Keppel O&M, sa id , “With these contracts, our new orders for the year has reached a record high of some S$10 billion, with del iver ies extending to 2015.

“It reflects the confidence of global customers in the capabilities of our yards. We have established a solid track record of successfully

completed projects and we intend to maintain this by executing our orders to the satisfaction of our customers.

“With a network of yards around the world, we are proud to be able to offer a variety of services to customers wherever they are. We will continue to strengthen the partnership with repeat customers like Saipem and gain the trust of new customers like Ok Tedi Mining.”

Busy quays at Keppel yards around the world – seen here are Keppel FELS in Singapore (left) and Keppel AmFELS, Brownsville, Texas (right)

19


The container vessel to be built by Keppel Singmarine i s capab le o f load ing 3,000 tonnes of copper concentrate or carrying 236 twenty-foot equivalent units (TEU) of containers. In addi t ion, the three 4 0 0 0 D W T b u l k o re /fuel carriers that Keppel Singmarine will be building will each be able to carry a minimum of 4,000 tonnes of copper concentrate or 1,900,000 litres of bulk diesel fuel. All the vessels are scheduled for delivery in 2Q 2013.

In the Netherlands, Keppel Verolme will undertake the upgrade and maintenance of the semisubmersible drill ing rig, Scarabeo 6.

The vessel is expected to arrive at the yard in 2Q 2012 for a period of six months.

Work on the rig includes upgrad ing i t s d r i l l i ng capabi l i t ies to a water depth of 1,200 metres, the prefabr icat ion and installation of various deck extensions, and the renewal of traction winches, cable spooling winches and double riser tensioners.

A new storage area for risers will be constructed and new sponsons and blisters will be installed to accommodate the new winches as well as enhance buoyancy and stability. The maintenance programme

will include refurbishment of the accommodations.

Keppel Verolme last carried out a major upgrade on Scarabeo 6 in 1998.

A regular customer of K e p p e l , S a i p e m h a d previously sent the Saipem 7000, a semisubmersible crane and pipelaying vessel, for drydocking at Keppel Verolme in 2007.

More recently, the yard comp le ted the repa i r and modification of the semisubmersible pipelay vessel, Castoro Sei in 2010 for Saipem.

In 2011, Keppel FELS in Singapore delivered Scarabeo

9, a 6th generation ultra-deepwater semisubmersible drilling rig, to Saipem on schedule and with no lost time incidents.

Keppel’s current projects for Saipem include the completion of a newbuild p i p e l a y i n g v e s s e l , C a s t o r o n e , w h i c h i s being jointly undertaken by Keppel Shipyard and Keppel S ingmar ine, as well as a survey and repair programme on the S44, a barge for post-trenching and backfilling of pipelines, car r ied out by Keppel Verolme.

Continues on page 20...

20 Special Focus


In 2011, Keppel FELS in Singapore delivered Scarabeo 9, a 6th generation ultra-deepwater semisubmersible drilling rig, to Saipem on schedule and with no lost time incidents

In addition, Keppel Verolme has also been busy with the crane vessel Thialf, which arrived at the yard for repair, maintenance and painting works on 23 December 2011.

Thialf is Heerema Marine Contractors’ largest crane vessel. Upon completion of these works, Thialf is expected to be able to continue in service for another 20 years.

GOOD START TO 2012 Ushe r i ng i n t he new

year on a positive note, Keppe l AmFELS , a US wholly-owned subsidiary of Keppel O&M, has secured a contract from Diamond Off shore to cons t ruc t and upgrade a moored semisubmersible rig with de l ivery scheduled for 3Q 2013. The estimated shipyard contract price i s a p p r o x i m a t e l y US$150 million.

The r ig , to be named O c e a n O n y x , w i l l b e constructed from an existing hull of a Diamond Offshore

cold stacked unit, which previously operated as the Ocean Voyager.

Keppel AmFELS’ scope of work on the Ocean Onyx will include the reconstruction

of the rig, installation of a d v a n c e d e q u i p m e n t such as a modern drilling package, and installation of sponsons to the pontoons to enhance the stability of the rig in deepwater.

...continued from page 19.

With these contracts, our new orders for the year has reached a record high of some S$10 billion, with deliveries extending to 2015.Mr Chow Yew YuenMD Keppel O&M

21


The rig will be designed to operate in water depths of up to 6,000 feet and will have a variable deck load of 5,000 long tonnes, a five-ram blowout preventer, and accommodations for 140 personnel.

Mr Larry Dickerson, President and CEO of D iamond Offshore, said, “We have worked with Keppel for more than a decade, and

our rigs have consistently been delivered on time and within budget, whether in the US or Singapore. With Keppel’s track record as a leading offshore yard, we are confident that this project will also be a success.”

K e p p e l O & M h a d previously built four similar semisubmersible rigs for Diamond Offshore – the Ocean Baroness, Ocean Rover,

Ocean Endeavour and Ocean Monarch.

Mr Tan Geok Seng, President of Keppel AmFELS, said, “We are pleased to be able to embark on another major rig project for Diamond Offshore, which has worked with Keppel on more than 20 projects since 1996.

“Diamond’s rigs are sent regularly to our yards around

the world for maintenance, r e p a i r a n d u p g r a d e , and Keppel AmFELS has proven to be their yard of choice in the US Gulf of Mexico. Having built a long-term partnership with Diamond, we understand the company’s needs and are confident of delivering another high quality rig to their satisfaction.” keppelite

Diamond Offshore’s Ocean Endeavour was one of four semisubmersible drilling rigs previously upgraded by Keppel O&M. This rig is similar to Ocean Onyx which Keppel AmFELS will be upgrading

22 Empowering Lives


22 Empowering Lives

That necessity is often the mother of invention is well illustrated by Singapore’s water as well as offshore and marine industr ies. Mr Tan Gee Paw, Chairman of PUB and a member of the Keppel Technology Advisory Panel, elaborated on the success factors behind these industries at the 26th Chua Chor Teck Memorial Lecture.

Addressing the 200-strong audience, Mr Tan shared, “The need to survive gives birth to innovation, to new ideas. A society that is not

Spurred by innovation

endangered is one that will level off and be mediocre.”

Despite land constraints and no natural aquifers, Singapore has developed a diversified and sustainable w a t e r s u p p l y f o r i t s people. Indeed, Singapore ha s made subs tan t i a l headway in technology and infrastructure for the col lect ion, product ion, distribution and reclamation o f wate r, bu i ld ing an extensive repository of knowledge and experience in water management solutions.

The 26th Chua Chor Teck Memorial Lecture’s guest speaker Mr Tan Gee Paw, Chairman of PUB (left) and a member of the Keppel Technology Advisory Panel, as well as moderator Mr Teo Soon Hoe, Senior ED of Keppel Corporation, share their experiences

The 26th Chua Chor Teck Memorial Lecture saw a stimulating discussion on the success factors behind Singapore’s water and offshore and marine industry

Similarly, despite being written off as a “sunset industry” in the 1980s, Singapore’s offshore and marine sector has grown from strength to strength. Local companies such as Keppel have forged ahead, prov id ing compet i t ive , value-added offshore and marine solutions to global customers through constant innovation.

Keppel has also thrived by seizing opportunities, especially those in adjacent sectors. For instance, Keppel is extending its expertise

in jackup rig design and construction to offshore wind turbine and foundation installers.

While both Singapore’s water and offshore and marine industries have attained much success , Mr Tan cautioned that they cannot rest on their laurels. Only by staying nimble and agile can they stay relevant and keep at bay the challenges to their industries.

Ong Chee Lam, Engineer (Product ion) of Keppel Singmarine, said, “This

Empowering Lives 23


Alumni meetthought-provoking talk touched on many interesting points. I especially enjoyed Mr Tan’s sharing on the type of leadership that would bring about evolution and growth in an organisation. I am sure that Mr Tan has inspired many in the audience to see the bigger picture – to anticipate the challenges ahead as well as think creatively on how to meet them.”

Established in 1986 and held annually, the Chua C h o r Te c k M e m o r i a l Lecture is a tribute to the pioneering Mr Chua Chor Teck. The lecture focuses on offshore and marine-related topics.

The late Mr Chua Chor Teck was the MD of Keppel Shipyard which was renamed Keppel Corporation in 1986. Mr Chua was awarded a scho la r sh ip to pursue Naval Architecture at the University of Newcastle-upon-Tyne in 1965. On his return to Singapore, he joined Keppel Shipyard as a Ship Repair Manager. His talents, dedication, robust courage and quiet strength were recognised early and he progressed through the ranks.

Those who had the fortune to work with him found him unassuming, approachable, honest and sincere. His death was a loss to his family and all who knew him. keppelite

Speaker Tan Gee Paw (left) and Keppel Corporation’s CEO Choo Chiau Beng met up with the KOM Alumni members, including Mr Loh Wing Siew (extreme right), formerly MD of Keppel Corporation (1994-2000)

Mr Tong Chong Heong (standing), Senior Executive Director of Keppel Corporation and CEO of Keppel Offshore & Marine and Mr Wong Kok Seng (seated,extreme right), MD of Keppel FELS chatting up old friends

About 40 members of the KOM Alumni caught up with each other and with Keppel ’s sen ior management over tea before attending the Chua

Chor Teck Memorial Lecture together. The Lecture is now marked as an annual event in the Alumni calendar, which is apt since Mr Chua Chor Teck has been held up

by many Keppelites, both past and present, as the ‘most illustrious son of Keppel’.

24 Empowering Lives


In a fast-paced job market where many constantly seek the next better offer, Mr Choo Chiau Beng, CEO of Keppel Corporation, cuts an impressive and rare figure, having recently surpassed 40 solid years of service at Keppel.

I t w a s t h e re f o re n o t surprising that Mr Choo was invited to share his insights in leading and g r o w i n g K e p p e l , a conglomerate with global o p e r a t i o n s , w i t h t h e Singapore Management

Lessons from a global leaderUniversity’s pioneer Executive MBA (EMBA) c lass on 10 January 2012.

When Mr Choo joined Keppel in 1971 as a management trainee, he had not expected his job over the next 20 years to be so tough. Then, the offshore and marine industry underwent a severe downturn in the early 1980s and was branded a “sunset industry”. The team had to find ways to survive.

Those early days of difficulty enabled Keppel to build up

a strong team. Mr Choo shared, “We are willing to tighten our belts in bad times, while in good times, we shared the rewards and we treated everybody fairly.”

Mr Choo added, “To keep a l ive, we adapted our yards and facilities to build different things apart from rigs. If you are adaptable and f lex ib le , you wi l l survive. However, one must always remember to focus on your revenue streams. You need to choose your battlefields.”

Another golden rule which Mr Choo shared was that it is important to be trustworthy and reliable when it comes to customers.

From the beginning, Keppel has focused on making timely deliveries to customers. “That’s how we built up the trust by our customers,” emphasised Mr Choo.

In addition to the opportunity to hear from Keppel’s chief executive, the 30 EMBA s t u d e n t s a l s o v i s i t e d Keppel Offshore & Marine’s (Keppel O&M) yards on 12 January 2012 as part of their ‘Executing Global Strategy’ module to study how world class companies s u s t a i n c o m p e t i t i v e advantages to achieve market leadership position.

Mr Choo Chiau Beng, CEO, Keppel Corporation, shared invaluable insights and experiences from his long career at Keppel with EMBA students from Singapore Management University

The group was warmly welcomed by Mr Wong Kok Seng, MD of Keppel FELS and engaged in a robust discussion on Keppel O&M’s strategy and the competitive landscape.

During the tour of the yards ’ operat ions and innovative processes, the students were impressed by the sights of massive rigs and marine vessels.

Mr David Lim, COO of Sakari Resources Limited and a participant of the SMU EMBA programme, summed up his experience thus, “It was an eye opener for us to see the world’s foremost rig builder in action.

“Being a global leader in offshore rig design and construction, ship repair a n d c o n v e r s i o n , a n d specialised shipbuilding, Keppel Offshore & Marine has good systems and processes in place and has continued to invest on technology and innovation as well as on staff training to stay ahead of the curve. It is definitely an exemplary company for the class to study.” keppelite

Empowering Lives 25


Building up a career

F r o m f i g h t i n g o f f c h a u v i n i s t i c b u s i n e s s a s s o c i a t e s t o a gu n -w i e l d i n g n e g o t i a t o r, Ms Ng Hsueh Ling, CEO and ED of K-REIT Asia Management shared a slew of interesting lessons and anecdotes from her colourful career at the Keppel Young Leaders Leadership Series session held on 12 January 2012.

Her multi-faceted career has spanned real estate and assets as well as fund management, contributing to a wealth of experience which she candidly shared with some 50 enraptured young leaders who attended the talk.

Hav ing worked for 21 years in the real estate industry, Ms Ng’s experience encompasses the strategic sourcing, investment, asset and portfolio management and development of assets that has taken her to Asian countries such as Indonesia, Japan and Korea. In each of these countries, she had an s to r y to t e l l , and something for the young leaders to chew on.

Recounting a time before her Keppel days when she was in negotiations with a group of male counterparts in Korea, Ms Ng shared how walking away from the discussion table after her counterparts showed signs

of disrespect when terms were not going their way had helped her gain the upper hand when she was requested to go back to the negotiation table.

When walking away was not an option, such as when an Indonesian joint venture partner pulled out a gun during a discussion on pricing his share of the partnership, she had to rely on a different set of persuasion skills and reasoning to extricate herself and her colleague from the dangerous situation.

Though harrowing, such experiences have made her career life so much more interesting, and she urged

Ms Ng Hsueh Ling, CEO and ED of K-REIT Asia Management, shared many colourful anecdotes at the Keppel Young Leaders Leadership Series

all Keppelites to “seize opportun i t ies to work overseas and learn to make things work.”

While there had been days in her middle management days when she felt tired with the constant networking required, Ms Ng emphasised t h e i m p o r t a n c e o f connections and making new acquaintances who may in future, become good friends, useful contacts and reliable sources of help.

As a CEO, she believes in giving clear directions to her team so that they know where and how to move forward towards a definite goal.

Important as having a vision is, there must be concrete and realistic steps taken to achieve the vision. It is also crucial that a leader knows how to help his or her team work towards that vision, not just via one fixed route, but always with an alternative ‘Plan B’ in mind.

On her source of motivation at work, Ms Ng had this to share: One must always w o r k h a rd a n d w o r k smart, and must possess a ‘Can-Do!, never-say-die’ attitude.Never give up until you are fully satisfied that you have given nothing but your very best. keppelite

26 Empowering Lives


To celebrate the achievements of 2011 and to usher in the new year, Keppelites across the Group celebrated at various parties, renewing old ties and forging new friendships.

AT KeppeL CORpORATIONS e n i o r m a n a g e m e n t from across the Group welcomed 2012 at a New Year countdown party on 31 December 2011 hosted by Keppel Corporation CEO, Mr Choo Chiau Beng and Mrs Eileen Choo.

Held on the 42nd storey of the spanking new Ocean Financial Centre, the event was set against a breathtaking backdrop of the Singapore skyline, with “front-row seats” of the fireworks

Goodbye 2011, hello 2012!

display at the Marina Bay Singapore Countdown.

Proposing a toast to the n e w y e a r, M r C h o o thanked the Keppel leaders for their contribution to the company.

He shared, “Our people are the very foundation and heart of our company. I hope that Keppel will continue to remain competit ive, productive, and above all, driven by men and women with passion and integrity.”

Reflecting on his experience of the past year, and looking forward to the year ahead, Mr Choo said, “It has been a stellar year for K e p p e l . O u r s t r o n g fundamentals and core competencies have allowed

Keppel Corporation CEO, Mr Choo Chiau Beng and Mrs Eileen Choo, together with Keppel Group senior management, toast to a year of abundance and success

Keppel Corporation Chairman Dr Lee Boon Yang (at right) with the “God of Fortune” and dragon mascot

Empowering Lives 27


us to continue to drive continued growth across our businesses and markets amidst challenging and competitive landscapes.

“In embracing the New Year, we must remain agile in adapting to changes and continue to innovate for sustained growth. We must continue to develop and execute our business productively, profitably and safely, as we expand our global presence and break into new frontiers.”

Separately on 18 January, the “God of Fortune”, accompanied by a yellow d r a g o n m a s c o t , l e d Keppelites in a lo hei at Keppel HQ, organised by the Group Human Resources (GHR).

The Lo Hei was hosted by Keppel Corporation’s Chairman Dr Lee Boon Yang, CEO Mr Choo Chiau Beng, Senior Executive Director Mr Teo Soon Hoe, Senior Executive Director Mr Tong Chong Heong, as well as other senior management. It was attended by more than 100 Keppelites from across departments.

Greeting Keppelites in fluent Mandarin, Dr Lee said, “Despite the challenging c l i m a t e , K e p p e l h a s continued to do well. This has been made possible by everyone’s effort and great teamwork. For the coming year, we should continue to strive for better performance and good results.”

Mr Choo, Mr Teo and Mr Tong also offered their best wishes for all staff and commended them for their dedication and hard work put in for 2011.

AT KeppeL OFFSHORe & MARINeKeppel Offshore & Marine

The year-end parties at Keppel O&M were filled with entertaining performances

(Keppel O&M) also welcomed 2012 with a ser ies of celebrations on 30 December 2011.

At Keppel Shipyard, a party was held not just to herald the new year but also to congratulate 24 employees who were recognised as

outstanding employees. Best Employee Awards were given outfor Best Worker, Best Supervisor and Best Support Staff.

The party was attended by thousands of employees

Continues on page 28...

28 Empowering Lives


f r o m a c r o s s K e p p e l Shipyard’s three yards. Various departments also put up enthrall ing solo a n d g r o u p c u l t u r a l performances.

Ove r a t Keppe l FELS , c e l e b r a t i o n s w i t h a n “ in te r na t iona l f i e s ta” theme was organised by the Engineering department. As management and staff tucked into a sumptuous buffet spread, they were entertained by performances by the various departments, as well as lively acts by employees from Keppel FELS’ overseas engineering offices in Shenzhen and Mumbai. The party concluded with prizes given out for the Best Dressed and Best Performance as well as a lucky draw.

Separately, Keppel FELS also held a Chinese New Year celebration party on 20 January 2011. The party was attended by more t h a n 1 0 0 0 g u e s t s , c o m p r i s i n g K e p p e l O & M m a n a g e m e n t , representatives from the union, subcontractors , overseas colleagues and employees of all levels.

Themed “Year o f the Dragon”, the committee put up a lively lion and dragon dance performance, much to the delight of the crowd. Coupled with f u n - f i l l e d i n t e r a c t i v e g a m e s a n d a l u c k y draw sponsored by the management, the party ended with a Lo Hei session to welcome a year of good fortune.

Keppel Singmarine too had a j o y o u s y e a r - e n d celebration over lunch and a s inging competit ion. T h e c e l e b r a t i o n a l s o recognised superv isors w i th good reco rds in workplace health, safety and environment. Mr Hoe Eng Hock, ED of Keppel Singmarine, wrapped up the event with a sharing on the company’s performance. He also unveiled new projects for 2012.

The event ended on a high note with several rounds of toasting, cheers and well wishes to new beginnings.

AT KeppeL LAND CHINACelebrations continued further up north at Keppel Land China on 6 January 2012. Organised for and by

the Shanghai city office, more than 70 Keppelites took part in its Dinner & Dance amidst the cold wintry weather. The team dressed gamely for a costume-themed party, putting on their finest outfits from pirates to the God of Wealth!

Speaking at the event, Mr Ang Wee Gee, Executive Vice-Chairman of Keppel Land China, highlighted the significance of Shanghai as the city where Keppel Land built its inaugural residential project – One Park Avenue. He also thanked the Shanghai team for their hard work and contributions in the past year and encouraged them to put their best foot forward in 2012 to continue to grow the business. keppelite

Mr Ang Wee Gee, Executive Vice-Chairman of Keppel Land China (wearing a mask) and Mr Ho Cheok Kong, President of Keppel Land China (wearing a pirate costume) joined the Shanghai city office’s Dinner and Dance on 6 January 2012

...continued from page 27.

Empowering Lives 29


Keppelites Abroad

Drinking in a global experienceof Bram de Brauwer, 30, Marketing Manager.

An environment so conducive to ideation and innovation is as vital to the company’s over 80 waste and water technology innovators and engineers as it is to Bram, who is charged with delivering compelling and effective marketing programmes for the company worldwide from Europe to the Americas and Asia.

“Thanks to an international atmosphere created by our colleagues from Singapore,

Italy, France, Germany, Poland and other countries, it does not feel like we are in Belgium sometimes. But what is really great is that we all work like one big family,” Bram shared.

The global spread of KSBe drew Bram to the company two years ago. KSBe’s international presence offered an opportunity for Bram to put his postgraduate degree and skills in International C o m m u n i c a t i o n s t o good use.

Today, Bram takes pride in seeing the successful internat ional i sat ion of Keppel Seghers’ branding across markets, bearing the distinctive mark of the Keppel Group family branding.

Doing business overseas has also widened his horizons to local cultural practices. For example, he shared, “I learnt that to do business in Finland, start with a sauna. It is common that business associates talk shop and continue negotiations in the sauna. It serves the same purpose as golf in other places.”

More importantly, working on projects worldwide has

In a quiet part of Antwerp, Belgium, along the calm River Rupel, sits a stylishly retrofitted, modern office block that used to be a brewery.

The relaxed façade belies the vibrancy of an industry-leading, global environmental engineering company and the vitality of its 150-strong staff made up of diverse nationalities.

Such is the inspiring workplace at Keppel Seghers Belgium (KSBe), which fires up the passion and imagination

also given Bram a first-hand understanding of the urgency of waste and water problems facing cities.

Savour ing the buzz of being in the business of solving some of the biggest waste and water problems plaguing humankind, he added, “We should al l contribute to preserving our planet and adopt sustainable habits or solutions to help address pressing problems in waste management and wastewater treatment.

“Water is sometimes called the blue gold, and it is. Being part of a company that contributes to solutions for these global problems makes working at Keppel Seghers a very gratifying experience. The future for our industry looks promising, if we want to save our planet, that is.” Drinking in the myriad opportunities for both career and personal fulfilment at KSBe has certainly been a rewarding experience for Bram.

Be it in Belgium or other countries where Keppel is present, Keppelites too can count on gaining remarkable experiences. keppeliteStriking connections – Bram (left) with colleagues at a company party

30 Empowering Lives


In a truly commendable display of selflessness and courage, two Keppelites from Keppel Thai Properties (KTP) – Andaman Wanatham and Warayut Chaisin – went above and beyond the call of duty to help residents at Villa Arcadia Watcharapol (VAW) located in Bang Khen, as Bangkok was inundated by one of the worst floods in Thailand’s history.

In late October 2011, the Governor of Bangkok had issued a flood warning to residents of six districts, including Bang Khen, as large amounts of water from northern Thailand were rapidly bearing down on the capital. Keppel Land’s head office announced a temporary office closure from 28 October to 6 November 2011 to allow staff and

Selfless serviceresidents in the affected areas to evacuate to safety.

Despite the danger of their homes in the Bang Khen area being flooded, both Andaman and Warayut volunteered to stay on at the villa to help residents in the event of the flood waters reaching VAW. From October to November, they stayed in the library room in VAW’s clubhouse and only paid occasional visits back to their homes before rushing back to be on standby.

“I wanted to ensure the safety of the remaining residents. Floodwaters can have a severe and lasting impact. I hoped that our preparations could ensure the residents’ safety and minimise the damage done to VAW,” shares Warayut.

Andaman echoed similar sentiments, saying, “As customer focus is our core value, I felt that it was our duty to help the residents in need of assistance.”

As the water levels rose and entered VAW’s compound, Andaman and Warayut w o r k e d c l o s e l y w i t h Thammaporn Pattamalai, Senior Customer Service & Property Management M a n a g e r, a n d K T P ’s management team to monitor the situation and implement water damage prevention measures. Gate motors, batteries and items in the sales office and show gallery were moved to higher ground, while the wall plugs were sealed with adhesive tape.

U s i n g w a t e r p u m p s , floodwaters were pumped

out over the sandbag barrier at the main entrance of VAW. Additional sandbags and pumps were a l so purchased as flood levels within the compound crept ever higher.

Though travel was made more difficult by the worsening flood situation, on 7 November 2011, Keppel staff from Villa Arcadia Srinakarin (VAS) made the journey to VAW to deliver food and medicine to Andaman, Warayut and the VAW security guards. This is a testament to the unity of Keppelites even during difficult times.

Andaman and Warayut’s self less dedication is a quintessential display of Keppel’s Can Do! Spirit and is an inspiration to all Keppelites. keppelite

(From left) Warayut, Thammaporn and Andaman from KTP went above and beyond their duty to help residents at Villa Arcadia Watcharapol when floodwaters reached a peak of around 40 to 45cm within the development

Empowering Lives 31


The Can-Do! boat races home

that has been used on it), is doing us very proud… The determination and Can-Do! spirit of the crew just keep our boat sailing faster and faster!”

Skipper Ben also said, “The real challenge on this race is the heat and the length of the journey. It’s one of the longest we’ll be doing… the light, drifty conditions will slow us down and it will be combined with stifling heat and humidity.”

“The tactical element of the race is still unfolding... Our race tactic to race north seems to be paying off!

Staying a little higher on the wind allows us to keep slightly better speed and hopefully in some more consistent breeze.”

As excitement builds up for the Singapore stopover from 28 January 2012 to 4 February 2012, no one feels the pressure more than Celina who shared her thoughts with Keppelite via email.

What are your thoughts on sailing to Singapore?Sailing upon the high seas and the Pac i f ic Ocean gives me a unique sense of achievement and pride which I cannot get anywhere else. Seeing the Singapore and Keppel words on the boat, from the main sail, medium weight spinnaker to the coffee grinder, never fails to make me feel proud.

What do you think are your strengths in contributing to the crew?It’s all about teamwork on Singapore and every crew member plays an important part. I’m glad that Ben gives everyone opportunities to try new things, such as getting up the spinnaker pole to spike, while maintaining safety onboard. I feel like a sponge soaking up all the knowledge on sailing. keppelite

At press-time, the Keppel-sponsored Singapore boat is sailing towards home from Gold Coast, Australia in the seventh stage of the world’s longest ocean race.

The 4,600-mile leg will see the ten 68-foot Clipper yachts sai l up the east coast of Australia, past the Great Barrier Reef and north towards Papua New Guinea before picking up the monsoon trade winds to speed towards Singapore.

Shouldering the responsibility of steering the vessel home is Ben Bowley, from Winchester in the south of England. He

is skippering Singapore, who fell to the back of the fleet in early January but has since reeled back the miles lost and clawed her way back up the leaderboard from eighth to fifth position.

Keppel Ambassador Celina Chan, a Senior Engineer from Keppel FELS, is sailing in Leg 5 of the race to Singapore and then to Qingdao.

She shared her excitement in her crew diary entry, saying, “We’ve progressed very well again… Sticky Vicky, our heavyweight spinnaker (it was so named because of the amount of sail repair tape

Singapore, one of the ten Clipper 11-12 yachts, will sail into Marina at Keppel Bay together with the other nine international entries on 28 January 2012

32 Nurturing Communities



Neighbourliness continues to bloom at the Keppel-GK Eco Village. Families which have moved into the Eco Village have not only been hard at work furnishing their new homes but also actively engaged in building common areas and the remaining units.

Napoleon Gadon, whose family received one of the first 20 completed homes at the Eco Village, shared, “We feel fortunate to be part of the Keppel-GK Eco Village. Members of this community watch over each other; especially the children, when their parents are at work.”

Another proud resident, Joselito Villalon, said, “My family is very grateful to all who have helped make it possible for us to have a place to call home. We devote our free time to help with the construction of our neighbours’ houses to pay forward the kindness that we have received. In doing so, we have also enhanced ourrelationship with the many members of the Keppel-GK Eco Village.”

Located in Bauan, Batangas province, the Philippines, the Keppel-GK Eco Village is a joint effort between Keppel Group and the charity organisation Gawad Kalinga (GK). Comprising 60

Blossoming communityhomes when completed, the Eco Village’s first 20 homes were handed ove r to 20 needy fami l i e s on 23 December 2011.

The remaining 40 units will be completed in 2012 – 20 new homes will be occupied by the end of the first quarter, while the last 20 units are slated for completion in the second quarter.

Construction works at the village have been supported by a steady stream of volunteers from Keppel Batangas, located 30 minutes from the Eco Village, as well as local community members.

Future residents of the Eco Village have also been part of the building process, which strengthens their sense of belonging to the community. More than 24 families have put in 1,000 man-hours

at the Eco Village, while another 16 families have contributed more than 500 man-hours.

A future resident of the Eco Village, Marilyn Jimenez, enthused, “Putting in more

than 500 man-hours is a big accomplishment for my family. We are proud of our efforts and look forward to share with the next generation our contributions to this wonderful community.” keppelite

The remaining 40 units will be completed in 2012 ñ 20 new homes will be occupied by the end of the first quarter, while the last 20 units are slated for completion in the second quarter

Future residents of the Eco Village have also been part of the building process, which strengthens their sense of belonging to the community

Nurturing Communities 33


Usher ing in 2012, the lunar year of the dragon, Keppelite Recreation Club’s d ragon-boat ing team, Keppel Dragons, looks forward to performing at peak in its forthcoming races.

Keppelite spoke to team captain, Darryl Tai, to find out what makes the team great.

Darryl shared, “Timing, technique and teamwork – each is a critical quality embraced by our team. In a way, they also embody Keppel’s core values, as dragon boating is a great team-building sport and Keppel’s Can-Do! spir it helps to spur us on to greater heights.”

roar of the dragonsTIMING Coordination is key in dragon boating. For the boat to move fast, the paddle strokes of all team members have to be in sync. A missed stroke can drag the boat’s speed down by as much as 20%, and once a boat loses speed, it is extremely difficult for it to regain momentum. In a race where the winners and losers are usually separated by a few tenths of a second, a single mistake could prove to be a costly one.

Thus, it comes as no surprise that Darryl shared that great emphasis is placed on timing during the team’s training sessions.

TeCHNIqUeGood technique is another

team that drives the boat forward. All 22 members of the team are equally important.

“The strong bonds between the Keppel Dragons were not forged overnight. As long as we remain united, I am confident that we will be able to soar to greater heights in the near future.”

Keppel Dragons are looking to recruit more Keppelites who share their passion for water sports. Interested Keppelites may contact Darryl at [email protected] or Olivia at [email protected]. keppelite

important factor as i t distinguishes good dragon boaters from amateurs and the Keppel Dragons train hard on land as well as on the sea.

“With the emergence of expatriate teams in recent years, the dragon boat scene is flourishing,” Darryl observed. “The quality of the new teams has been steadily increasing, and thus, we will have to continuously hone our technique to compete with the best.”

TeAMWORK Above all, a successful team is a united one. As Darryl shared, “the boat is only as strong as its weakest link.” In dragon boating, it is the collective strength of the


Keppel Dragons giving their all in a race




The spirit of giving was palpable at the fourth Keppel Group Blood Donat ion Drive organised by Keppel Volunteers in collaboration with the Singapore Red Cross Society from 20 to 23 December 2011.

Many Keppelites put aside their fear of needles and pain to support the cause. With collection centres set up at Keppel Bay Tower, Keppel O&M Tower, Keppel Shipyard (Tuas) and Keppel Singmarine, the campaign was a success, collecting a record high of 485 packets of blood from first-time and regular donors.

First-time donor, Benjamin Ng Keyi, Human Resources

Gift of lifeAssistant of Keppel Shipyard Tuas, shared, “With the encouragement from fellow colleagues, I decided to take the plunge to donate blood for the first time. The experience was not as painful as I expected. Knowing that my contribution could affect another person’s chance to live will spur me on to give blood as and when I can.”

T h e b l o o d d r i v e w a s implemented in December as many regular donors are away during the holiday season and unable to contribute to the blood bank. From all walks of life, Keppelites made up for this shortfall, contributing to the well-being of patients. keppelite

First-time donor, Benjamin Ng Keyi, Human Resources Assistant, Keppel Shipyard Tuas, found the experience meaningful and less painful than imagined

Sharing with those in need during the festive Christmas season has been an annual year-end t rad i t ion for Keppel Corporation’s Group Corporate Communications (GCC) department.

The department held a charity auction in December 2011 and donated the proceeds to Dover Park Hospice (DPH), a non-profit organisation providing hospice care for terminally-ill patients.

With strong support from the department heads of Keppel Corporation and the GCC team, more than 30 items, including a digital photo frame, art and craft items, and a coffee machine

were auctioned off for a total of $7,600.

Receiving the donation o n b e h a l f o f D P H , Ms Cynthia Hng, DPH’s Head of PR & Volunteerism, said, “A big ‘thank you’ to the Group Corporate Communications team for raising funds for DPH. Fundra is ing p lays an important role at DPH as the hospice provides subsidies of about 41% to the total patient bill while patients pay only 14%, and the remaining 45% is met by government subvention. This donation will help our patients spend their last days in comfort and dignity.” keppelite

Ms Eva Ho, DGM of GCC (third from left) presents GCC’s contribution to Ms Cynthia Hng, DPH’s Head of PR & Volunteerism (fourth from left)


Caring hearts

Nurturing Communities 35


Out with the old, in with the new! Ushering in the lunar new year would not have been complete without a serious spate of cleaning and mending at the homes of elderly residents under the care of the Telok Blangah branch of the Moral Senior Activity Centre.

On 14 January 2012, 29 Keppel Volunteers provided care and assistance to the elderly by giving a fresh clean glint to their homes in eight HDB units.

Besides general cleaning, the volunteers also carried out basic home repairs. Damaged window handles were replaced while cracks in the ceiling and floor tiles were filled. Dim or damaged bulbs were also replaced with new ones.

Keppel Volunteers also helped avert potent ia l safety and health dangers by removing hazards such as exposed electrical wires.

Teo San San, a secretary at Keppel Digihub, reflected on the activity as a first-time volunteer. “Tile filler was smeared all over my fingers as we mended the cracked walls but it was worth it.

“Giving care and aid to the elderly has been a humbling

Homes and hearts on the mend

yet meaningful experience. It was heartening to see everyone work together as a team to improve the living environments of the residents.”

Apart from making their p h y s i c a l e n v i ro n m e n t more comfortable, Keppel Volunteers also brought the lunar festive atmosphere to the hearts of the elderly.

Teo Keng Siong, Assistant P ro jec t Manager f rom Keppel Shipyard, said, “The mandarin oranges that we gave to each elderly resident really helped to create a festive atmosphere at the Centre. They were

Keppel Volunteers usher in the Lunar New Year with residents from Telok Blangah Moral Senior Activity Centre

pleasantly surprised by this gesture. Their happy smiles are our inspiration and motivation.”

Enjoying both the time spent

with the elderly and the satisfaction of spreading goodwill to those in need, many volunteers are keen to be involved in the meaningful activity again. keppelite

Constance Liu, HR executive at Keppel Land (left) and Teo San San, secretary at Keppel Digihub (right) mended cracked wall tiles

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Keppel Corporation, through its wholly-owned subsidiary KV Ventus B.V., has entered into agreements to acquire a 49.9% stake in offshore wind turbine foundation designer, OWEC Tower (AS) for about NOK 61 million.

OWEC Tower, headquartered in Norway, is a leader in the design and engineering of offshore wind turbine foundations. The company has developed a proprietary j a c k e t f o u n d a t i o n design known as OWEC Quattropod®, which i s currently the only proven jacket design in the market. The OWEC Quattropod® des ign sepa ra te s and optimises the piling and jacket installation process, resulting in reduced installation costs and faster project delivery.

With the aim of getting a slice of the offshore wind foundation business, Keppel hopes to tap on OWEC Tower’s expertise to further develop its business in the design and construction of offshore wind turbine foundations as well as installation and support vessels.

Mr Michael Chia, Keppel’s Director of Group Strategy and Development, said, “We are seeing offshore wind energy rapidly gaining traction around the world

Taking off on windKeppel expands its suite of offshore wind solutions with the acquisition of a stake in OWEC Tower, an industry leading designer of offshore wind jacket foundation.

and a large number of offshore wind farms are under construction and planning. This will result in a huge increase in demand for foundation structures. With OWEC Tower’s leading design in this segment, our partnership puts us in an ideal position to capture a share of this market.

“As offshore wind farms move into deeper waters w i t h b i g g e r c a p a c i t y turbines, a large number of jacket foundations will be required. W ith our experience and expertise as a leading rig builder, we see good potential in supporting OWEC Tower to meet this demand in a cost-effective and reliable manner. Together with our proprietary designs for offshore wind turbine and foundation installers, we are confident of further enhancing our suite of solutions for the offshore wind industry.”

To-date, OWEC Tower is the only company with a track record of having its jacket foundation design installed for offshore wind farms. Projects include the Beatrice pilot test off the coast of Scot land, the German pilot project Alpha Ventus, Ormonde wind farm in the UK, and the Belgian Thornton Bank project. keppelite

The OWEC Quattropod® design separates and optimises the piling and jacket installation process, resulting in reduced installation costs and faster project delivery

Keppel Group Newsletter Keppelite · Keppelite I January 2012 Editorial An eye on the black swan...

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Transcript of Keppel Group Newsletter Keppelite · Keppelite I January 2012 Editorial An eye on the black swan...