January 2008 - Keppel Corporation

eppel 

JANUARY 2008 

www.kepcorp.com/ekeppelite 

Keppel Group Newsletter 

Keppelite 

Bonus awarded for 

2008’s first delivery 6 

Breaking new ground 

at Reflections at 

Keppel Bay 16 

Clippers in 

Singapore! 22 

President Nathan opens 

Keppel Bay Bridge 

MICA(P) NO. 047/11/2007 

Keppelite I January 2008

18 22 

30 

Contents 

BUSINESS 

K-REIT Asia achieves consistent growth 4 

Double strikes – twice! 5 

Bonus awarded for timely delivery of first project 6 

Splashing start for Asia’s first Ice-breakers 7 

Colour the future green 8 

More than just good governance 

Lessons on taking it global 9 

Evergro to realise full potential of Tianjin projects 10 

Developing skills for the industry 11 

Visits to Keppel’s yards 

TEAM 

No one walks alone at Keppel O&M 12 

Chairman Lim appointed Presidential Adviser 13 

Brunei Energy Minister visits Keppel 

Special Focus 

Keppel Bay transformed 16 

Clippers return to Keppel Bay 22 

Goodbye 2007, Hello 2008! 28 

Vigilance put to the test 30 

PEOPLE 

Keppelites Abroad 

Fresh start in Tianjin 32 

COMMUNITY 

Rewarding excellence 33 

Keppelites’ tour of duty 

All eyes on health 34 

Keppel Volunteers 

Greenhorns to green fingers 35 

BACK PAGE 

Second drillship awarded to Keppel by 36 

repeat customer 

Insuring opportunities 14 

Learning from the region 15 

eppel 

Published for people in the Keppel Group by the Group Corporate Communications Division, Keppel Corporation Limited, 1 HarbourFront Ave, #18-01 Keppel Bay Tower, 

Singapore 098632. Printed by Image Printers Pte Ltd, Blk 1002, Redhill Industrial Estate, Jalan Bukit Merah, #03-12, Singapore 159456. 

Editorial Advisor 

Wang Look Fung 

Editor 

Ivana Chua 

Editorial Committee 

Andrew Ong, Ang Lai Lee, Catherine Tan, Chen Xi, Cheryl Tang, Chung Xin Lei, David Loh, Diana Chan, Donald Sng, Gayathri Prakash Nair, Geraldine Lai, Grace Chia, Irene Lee, 

Jacquelyn Wong, Jeanette Pang, Joey Ho, Lee Yin Chiin, Lynette Goh, Mak Chui Ling, Mohd Nor Nordin, Phang Weng Onn, Rebecca Ng, Roy Tan, Sarah Seah, Serena Toh, 

Tan Siyi, Teri Liew , Woon Pek Yong 

Keppelite I January 2008 

CO REG NO: 196800351N

Editorial 

Turning vision to reality 

They could only imagine the waterfront 

lifestyle promised as they put their money down 

for homes marked out on blue prints. But their 

confidence was anchored on the Keppel brand and 

vision for a world-class waterfront precinct. 

Today, homeowners of Caribbean at Keppel Bay 

enjoy open vistas not only to spectacular views of 

the Marina and surrounds but also to a new 

waterfront lifestyle right at their doorsteps. 

We see the same confidence in Keppel 

demonstrated by home buyers of Reflections at 

Keppel Bay with some 620 units launched 

successfully taken up. 

Bit by bit, the pieces of the jigsaw that is Keppel 

Bay are quickly moving into place. The commitment 

to distinguish this Keppel flagship development, 

from management down to teams and individuals 

working on different components at Keppel Bay 

these few years, has been unwavering. 

to the world-class quality that is to define Keppel 

Bay. 

For the success of Keppel Bay, it takes the collective 

will and effort of the whole Group. Indeed, Keppel 

Bay has demonstrated our synergy and strengths. 

We leverage networks, create cross-selling 

opportunities, uphold quality standards and 

execute with excellence a world-class product. 

Not surprisingly, our vision for Keppel Bay has also 

attracted fine names and brands to come alongside 

to lend their signature for a premier waterfront 

lifestyle experience. 

For Keppel, it does not stop at delivery. Even after 

we had handed over the keys to the home owners 

of Caribbean at Keppel Bay, we carry on the work 

of adding value to Keppel Bay. This value creation 

process has to be continuous as there can be no 

compromise on quality until we turn vision to 

reality. 

This is, after all, the Keppel showcase of excellence. 

It is the model of Keppel’s capability in developing 

premium quality homes and creating value to 

enhance lifestyles of its home owners, whether 

here or around the world. 

In a few short years, the southern waterfront will 

be one of Singapore’s most vibrant hubs for living 

and leisure. And Keppelites can be very proud that 

Keppel Bay is the shining beacon that beckons the 

world to our nation. 

The transformation of an old shipyard into one of 

Singapore’s most valuable prime real estates takes 

a steadfast vision of the big picture as well as 

pinpoint focus into every detail which contributes 


4 Business 

K-REIT Asia achieves consistent growth 

At its inaugural full year results conference on 23 January 2008, K-REIT 

management announced a robust performance to press and analysts. 

For the full year 2007, K-REIT 

Asia achieved a distributable 

income of $21.8 million, up 

42.5% from the same period 

in 2007. 

Net property income grew by 

19.6% year-on-year to reach 

$28.3 million. The increase 

was mainly driven by higher 

gross rental income from 

K-REIT Asia’s properties 

on the back of higher 

occupancy and rental rates. 

FY2007 gross rental income 

was higher by 19% at 

$39.1 million, compared to 

that for FY2006. 

K-REIT Asia’s one-third share 

of maiden contributions 

derived from its newly 

acquired asset, One Raffles 

Quay (ORQ), amounted 

to $2.8 million which 

contributed to growth in 

distributable income. 

Distribution per unit (DPU) 

increased by 25.6% from 

2.23 cents in 3Q2007 to 

2.80 cents in 4Q2007. DPU 

amounted to 8.82 cents, 

up 30.5% from FY2006 

annualised DPU of 

6.76 cents. For the period 

from 1 July to 31 December 

2007, K-REIT Asia will pay 

out 4.99 cents per unit on 

29 February 2008. 

Mr Tan Swee Yiow, CEO of K-REIT Asia, together with Mr Daniel Cerf, Deputy CEO of K-REIT 

Asia, hosted the Company’s first full year results conference 

PORTFOLIO SIZE 

EXCEEDS TARGET 

K-REIT Asia completed its 

acquisition of a one-third 

interest in ORQ for 

$951.4 million on 

10 December 2007, bringing 

the number of commercial 

office assets in its portfolio 

to five. 

This yield-accretive 

acquisition coupled with 

the portfolio’s revaluation 

gains of $433 million have 

enlarged KREIT Asia’s 

portfolio size by 210% to 

$2.1 billion as at end-2007 

from $677 million as at 

end-2006. 

This surpasses the $2 billion 

target portfolio size that the 

Manager set out to achieve. 

K-REIT Asia’s net asset value 

per unit has, in turn, surged 

by 85.3% from $2.04 to 

$3.78. 

ACTUAL ACTUAL PRO FORMA + / (-) 

4Q 2007 FY 2007 FY 2007 

2007 2007 

$’000 $’000 $’000 % 

Property Income 11,028 40,069 33,778 18.6 

Net Property Income 7,024 28,262 23,625 19.6 

Net Profit 919 12,689 11,196 13.3 

Distributable Income to Unitholders 6,920 21,812 15,307 42.5 

Distribution Per Unit (cents) 

For the Period 2.80 8.82 n.a. n.a. 

Annualised 11.11 8.82 n.a. n.a. 

SUSTAINABLE INCOME 

GROWTH 

Despite the current financial 

market volatility, K-REIT Asia 

will be able to sustain its 

income growth, given its 

fully committed portfolio 

occupancy and potential 

rental reversions from its 

relatively low average rentals. 


Business 5 

About 44.5% and 21.9% of 

the portfolio’s net lettable 

area will be due for lease 

expiry and rent renewal 

respectively between 2008 

and 2010. 

Going forward, the Manager 

will continue to seek 

acquisitions of prime 

commercial space in 

Singapore and other Asian 

growth cities. The Manager 

is also actively looking at 

asset enhancement to drive 

growth within its existing 

portfolio. keppelite 

Proposed rights issue 

To strengthen K-REIT Asia’s 

balance sheet and capital 

structure, the Manager 

plans to raise gross proceeds 

of up to $700 million by way 

of a fully renounceable 

rights issue. An additional 

listing application together 

with a draft Unitholders’ 

Circular will be submitted 

to the Singapore Exchange 

Securities Trading Limited. 

An extraordinary general 

meeting will be convened 

to seek Unitholders’ approval 

for the rights issue. The 

proposed exercise will offer 

K-REIT Asia’s Unitholders the 

right to subscribe for new 

units at a discount of up to 

20% to the then-prevailing 

trading price. 

The net proceeds will be used 

to repay part of the bridging 

loan of $942 million from 

Keppel Corporation which 

was drawn down for the 

acquisition of a one-third 

interest in One Raffles Quay 

Pte Ltd. 

This will reduce K-REIT Asia’s 

gearing from 53.9% as at 

31 December 2007 and 

provide it with a significant 

degree of additional debt 

capacity to acquire further 

property acquisitions. 

The major Unitholders of 

K-REIT Asia, Keppel 

Corporation and Keppel 

Land, have also provided an 

irrevocable undertaking to 

take up their respective 

provisional allocation of 

the rights units and also 

take up any rights units not 

subscribed for by minority 

Unitholders. 

The Keppel Group will, 

therefore, remain a major 

Unitholder of K-REIT Asia, 

following the completion 

of the rights issue. 

Double strikes – twice! 

Not one but two double 

celebrations were held at 

Keppel FELS when two 

projects marked their first 

construction milestone on 

1 December 2007 and 

another two on 2 January 

2008. 

The first two to strike steel 

were Greatdrill Chitra, a 

KFELS B Class jackup drilling 

Strike steel marks the beginning of the physical construction work for each project 

rig for customer Greatship 

Global Energy Services 

(Greatship), and the first 

floating hotel (floatel) Keppel 

FELS is building for Floatel 

International. 

While the construction of 

Greatdrill Chitra is carried out 

at the Keppel FELS yard in 

Singapore, initial works 

onboard the floatel, such as 

the fabrication of the 

pontoons are carried out at 

Keppel Batangas Shipyard in 

the Philippines. When 

completed, the pontoons will 

be brought to Singapore, 

together with columns 

fabricated in China, for 

integration with the upper 

hull. 

This new generation floatel 

is being built to the DSS20 

NS DP3 design, co-developed 

by Keppel’s R&D arm, 

Deepwater Technology 

Group and Marine Structure 

Consultants. 

The other two projects which 

struck steel were, PV Drilling 

II, the second KFELS B Class 

rig for PetroVietnam and 

Project B304, another KFELS 

B Class jackup rig. keppelite 


6 Business 

Bonus awarded for timely delivery 

of first project of 2008 

A toast for a project well done – the vessel, Sea Apache, was completed on time and on budget by Keppel Singmarine 

Keppel Offshore & Marine 

(Keppel O&M), through its 

wholly-owned subsidiary 

Keppel Singmarine, has 

delivered the first project for 

the year 2008 on time and 

with an excellent safety 

record on 21 January. 

Keppel Singmarine received 

a bonus of US$10,000 for 

the timely delivery of Sea 

Apache, a 139-tonne bollard 

pull Anchor Handling Tug/ 

Supply (AHTS) vessel, to 

Gulfmark Offshore Inc. with 

zero loss time incident. 

Its completion adds on to 

Keppel O&M’s sterling track 

record of on time, on budget 

deliveries. 

Mr Choo Chiau Beng, 

Chairman/CEO of Keppel 

O&M, said, “We are pleased 

to announce that all our 

major projects for 2007 were 

delivered on time to our 

customers despite the 

tight labour market and 

equipment supply crunch. 

“Credit goes to the forward 

planning and hard work of 

our people at all levels 

and our sub-contractors. 

Thanks to our customers 

and our vendors for their 

support. Looking ahead, we 

remain committed to our 

promise of on-time, onbudget 

completion of high 

quality projects for our 

customers.” 

Sea Cheyenne, sister vessel of Sea Apache, was delivered in 2007 


Business 7 

Meeting the expectation of 

its customers has been a 

motto for Keppel O&M, 

whose vision is to be the 

provider of choice for its 

customers. 

At the naming ceremony of 

the Sea Apache held recently, 

Mr Martin Watts, Area 

Director for Gulf Marine 

Far East, a subsidiary of 

Gulfmark, said, “Keppel has 

once again achieved a first 

class production of our 

vessel. The Sea Apache is the 

second delivery of a new 

class of vessels that we are 

very proud to add to our 

fleet. We are expecting four 

more deliveries this year, all 

from Keppel Singmarine.” 

Mr Hoe Eng Hock, 

Executive Director of Keppel 

Singmarine, said, “This vessel 

is delivered well on schedule 

despite late delivery of key 

equipment. Her performance 

during sea trials has also 

exceeded the design and 

contractual requirements for 

bollard pull and speed. We 

are very glad to play a part 

towards building Gulfmark’s 

fleet of over 60 offshore 

support vessels, and its 

continued expansion into the 

Southeast Asian offshore 

market.” 

Sea Apache is the second of 

a fleet of six vessels ordered 

by Gulfmark, which provides 

marine transportation 

services to the energy 

industry, primarily in the 

North Sea, Southeast Asia 

and the Americas. Designed 

by Marine Technology 

Development (MTD), the ship 

R&D arm of Keppel O&M, 

she will be deployed in South 

East Asia. keppelite 

Splashing start for Asia’s first 

Ice-breakers 

On 29 December 2007 and 

14 January 2008, Keppel 

Singmarine sent ice-breakers, 

H327 and H328 respectively, 

off to a splashing start. 

H328 was launched before 

the onset of a heavy storm. 

Just a minute before the 

vessel was to slide down the 

slipway, heavy big raindrops 

fell on the sturdy shoulders 

of the team involved in this 

milestone. Nevertheless, the 

launch went well. 

Launching the Ice-breakers is 

a milestone for the team at 

Keppel Singmarine. 

Mr Edmund Lek, GM 

(Production) of Keppel 

Singmarine, who oversaw 

the launching process, 

shared, “These two vessels 

are by far the largest and 

heaviest ever launched in 

Keppel Singmarine. 

“We did a lot of safety 

checks and had intensive 

discussions with our 

Engineering and Project 

teams to ensure that we are 

confident of the success of 

the project.” 

The two vessels will be 

deployed in the Barents 

and Arctic Seas. They are 

designed and built to the 

rules and standards of the 

Russian Maritime Register 

of Shipping, and are 

customised in accordance 

with the owner’s stringent 

Braving the storm at its launch, Ice-breaker H328 achieved its first major milestone 

requirements and superior 

technical specifications. 

The contract to build the 

two vessels – a multi-purpose 

icebreaking supply vessel 

and an auxiliary icebreaker 

vessel – was secured on the 

back of four Ice-Class Anchor 

Handling Tug/Supply (AHTS) 

vessels, as well as a Ice-Class 

Floating Storage and 

Offloading (FSO) vessel 

subsequently. keppelite 


8 Business 

Colour the future green 

Keppel Land has made 

harmonising and improving 

the environment a priority in 

the design and development 

of all its projects. 

Going beyond current best 

practices, Keppel Land recently 

formed an Environment 

Management Committee 

(EMC), responsible for 

developing and implementing 

environmental programmes, 

such as the achievement of 

ISO certifications. 

Kwok Yan Hoe, Assistant GM 

of Corporate Development 

is the ‘Environment 

Champion’, or Chairperson 

of EMC. He said, “Here at 

Keppel Land, we want to 

adopt a proactive approach 

towards environmental 

management. EMC is an 

extension of our on-going 

Be they homes or offices, Keppel Land’s developments are thoughtfully planned and designed 

to integrate form and function for an optimal environment 

efforts over the years to strike 

a balance between economic 

objectives and environmental 

viability.” 

Keppel Land’s commitment 

to protect the environment 

has not gone unnoticed. In 

the inaugural Singapore 

Green Summit 2007 jointly 

organised by the Singapore 

Environment Council and the 

Association for Chartered 

Certified Accountants 

(ACCA), Keppel Land 

emerged as one of seven 

finalists in the ACCA 

Singapore Environmental 

and Social Reporting Awards. 

Deemed the “Green 

Oscars”, this prestigious 

event honours and highlights 

outstanding efforts by 

companies that contribute to 

environmental sustainability 

in Singapore. It recognises 

the best environmental 

practices and management 

within the industries, as well 

as promotes the uptake of 

environmental and social 

reporting. 

Keppel Land was also one of 

six finalists in the ACCA 

Singapore Environmental 

Reporting Awards 

competition held in March 

2005. The award is presented 

to companies that display 

an exceptional effort in 

reporting their non-financial 

disclosures to their 

stakeholders. It aims to 

promote good corporate 

citizenship and encourage 

companies to be more 

accountable for the social, 

environmental and economic 

impact on their activities. 

keppelite 

More than just good governance 

Keppel Philippines Marine, 

Inc (KPMI) was once again a 

finalist in the fifth MAP Best 

Annual Report (BAR) Awards 

on 11 December 2007. 

Organised by the 

Management Association of 

the Philippines (MAP), in 

co-operation with the 

Philippine Stock Exchange 

(PSE) and news publication 

BusinessWorld, the Awards 

recognises companies who 

practice principles of good 

governance in the Philippine 

business community. 

This promotes investor 

confidence in the Philippine 

stock market by increasing 

the level of transparency, 

accountability and fairness 

amongst its members. 

Since the Awards were 

instituted in 2003, KPMI has 

always been in the list of 

finalists for the coveted 

award. 

“This award is another vote 

of confidence to KPMI’s 

practice of good corporate 

governance and disclosure,” 

said Ms. Agnes Barbara L. 

Lorenzo, KPMI’s Vice 

President for Administration 

and Finance, who received 

the award on behalf of the 

company. 

She added, “The Annual 

Report is a very useful and 

powerful communication 

tool. The shareholders are 

provided with a clear, 

balanced and fair assessment 

of the company’s 

performance as well as the 

plans to further increase the 

value of their investment.” 

keppelite 


Business 9 

Lessons on taking it global 

A delegation of graduate 

students from the Yale 

School of Management 

visited Keppel HQ on 

7 January 2008 and was 

hosted by Mr Lim Chee Onn, 

Executive Chairman of 

Keppel Corporation. The 

group was led by the 

distinguished Professor 

Jeffrey E Garten, the Juan 

Trippe Professor in the 

Practice of International 

Trade, Finance and Business 

at the Yale School of 

Management. 

His area of expertise is global 

finance and global business. 

In his course “Leading A 

Global Company” each year, 

he focuses on a dozen great 

global companies. 

Professor Garten also leads 

an annual trip for his 

students to Singapore to 

study the country’s potential 

as a location for future 

investments. This is the 

second time the Professor 

selected Keppel as a case 

study for his students. 

At Keppel, the students were 

given an overview of the 

Group’s key businesses and 

geographical span. Following 

the presentation, the 

students enjoyed a lively and 

meaningful exchange with 

the Chairman, benefitting 

from his experience in both 

the private and public 

sectors. They were keen to 

understand how Keppel 

overcame different challenges 

in its metamorphosis into a 

global company. Chairman 

Lim also presented Professor 

Garten with Keppel’s newly 

published book, More than 

Mettle, The Keppel Offshore 

& Marine Story, which will 

take its place of honour 

at the Yale School of 

Management library. 

To round up the visit, the 

delegation was then off to 

Keppel FELS where Mr Choo 

Chiau Beng, Chairman & 

CEO of Keppel Offshore & 

Marine, took them on a tour 

of the yard for an up-close 

and personal encounter with 

the mammoth rigs being 

built and repaired. keppelite 

Visitors from Yale listened intently as Mr Lim Chee Onn (second from right) shared Keppel’s story 


10 Business 

Evergro to realise full potential of 

Tianjin projects 

In 2007, the Evergro Group’s 

turnover grew 591.2% from 

$5.8 million in 2006 to 

$39.7 million. This year, the 

Group recognised revenue 

from the sale of residential 

developments in Changzhou 

Fushi and Tianjin Fushi 

totalling $34.1 million, with 

the balance from golf course 

operations. 

At the gross profit level, 

Changzhou contributed 

$3.5 million and the golf 

course operations contributed 

$3.6 million. The Group’s 

gross profit was reduced by 

a loss of $4.2 million from 

residential sales in Tianjin. 

In order to realise the full 

potential of the Group’s 

Tianjin projects, higher 

costs were also incurred 

to upgrade the present 

development and supporting 

infrastructure. Group gross 

profit was $2.9 million or 

$0.4 million lower than that 

for 2006. 

Other operating income of 

$8.9 million was due mainly 

to a reinvestment tax rebate 

obtained in Changzhou 

and other tax incentives 

totalling $5.4 million, and a 

$3.2 million gain from the 

disposal of a land parcel in 

Changzhou. In 2006, other 

operating income comprised 

mainly the receipt of the full 

and final settlement of 

$1.4 million of a long 

outstanding debt in Shenyang. 

Administrative and other 

expenses in 2007 were 

higher than in 2006 by 

$3.5 million. The 

commencement of land use 

tax in China in 2007 cost the 

Group $2.2 million. With the 

start of sales activities for the 

Tianjin and Changzhou 

projects, advertising and 

promotional expenses 

increased by $0.9 million. 

The remaining increase is due 

to higher depreciation 

charges for golf course 

assets. 

As a result, the Group 

suffered an operating loss of 

$3.8 million in 2007, which 

is $5.5 million lower than 

that for 2006. 

In 2007, the Group 

recognised divestment gains 

on the sale of its 10% stake 

in Tianjin Tianfu Property 

Development Co. and a 50% 

share in Jiangyin Yangtze 

Dragon Development Co. 

totalling $8.2 million. With 

these divestment gains, the 

Group reported a pre-tax 

profit of $4.4 million. The 

higher profit in 2006 is due 

to the gain on the sale of a 

90% stake in Tianjin Tianfu 

Property Development Co. 

The Group provided for a 

taxation of $4.2 million on 

the divestment gains and the 

gain from the sale of the 

Changzhou land. 

In all, the Group after tax 

profit was $0.2 million versus 

$7.5 million in 2006. 

The Group’s residential 

project in Changzhou is 

targeted for completion this 

year. Riding on the city’s rapid 

development, Evergro will 

continue to seek new 

opportunities. 

The residential project in 

Jiangyin is slated for launch 

in the first half of 2008 

through an initial phase of 

about 150 apartment units, 

with more to be progressively 

launched in the second half 

of the year. 

A recent significant 

development is the 

announcement of Tianjin as 

the proposed site for Eco-city, 

a Sino-Singapore joint 

project to be launched in 

2008. The Group will focus 

its attention on realising 

the potential value of its 

Tianjin projects, including 

the subsequent residential 

development phases and 

golf course. 

A series of macroeconomic 

control measures to cool 

investments in the real estate 

sector were introduced in 

PRC in 2006 and 2007. 

Going forward, the Chinese 

government is expected 

to introduce additional 

measures, in particular in 

credit tightening, financing 

of real estate projects 

and control of foreign 

investments. 2008 will also 

see greater attention on land 

hoarding, and measures for 

developers to quicken 

development. 

Overall, property prices may 

see some correction in cities 

that have experienced overly 

rapid price appreciation in 

2007. They will, however, 

remain stable and increase 

steadily in the second-tier 

cities, given the strong 

demand. keppelite 


Business 11 

Developing skills for the industry 

Getting great people assures 

the success of any company 

and the Keppel O&M Group 

makes it a priority to develop 

their relevant skills even 

before they join the 

company! 

On 16 January, Keppel O&M 

in collaboration with 

the Institute of Technical 

Education (ITE) launched 

the Higher National ITE 

Certificate (Higher Nitec) 

in Marine and Offshore 

Engineering course. 

The course will equip 

students with the relevant 

trade skills who will meet the 

critical need for supervisors 

in the offshore and marine 

industry. 

This industry has seen 

meteoric growth, with a 

2006 record output of over 

S$12 billion, a 38 per cent 

growth from 2005. A 

manpower survey conducted 

by the Association of 

Singapore Marine Industries 

(ASMI) in October 2006 

predicted that there would 

be a demand for about 120 

local supervisors per year 

over the next five years. 

At the launch, the ITE Board 

of Governors engaged 

Keppel O&M’s senior 

management in discussion 

on the Group’s business. 

They also took the 

opportunity to visit one of 

Keppel O&M’s yards where 

the launch was held. 


Chairman & CEO of Keppel 

Mr Choo (right) welcomes Mr Bob Tan, Chairman of ITE to Keppel O&M 

O&M said, “As a leader in 

our industry, Keppel O&M 

is glad to provide a glance 

into our industry for these 

academic institutions. We 

want to inspire talents 

with the right set of skills, 

knowledge and mindset to 

join us.” keppelite 

Visits to Keppel’s yards 

Delegates from North Carolina on a yard tour led by Deputy Shipyard Manager, Low Tiau 

Tong (third from right) 

Keppel O&M not only has a 

diverse group of employees 

working for the company, 

this diversity is also seen in 

the delegations of visitors 

that come to the Keppel 

yards in Singapore. 

Eager to learn the 

organisation and operations 

of Keppel’s yard, 

Scandinavian fund managers 

and analysts from the Arctic 

Securities in Norway met 

with Keppel O&M 

management for an 

interactive discussion on 

8 January. 

Just over a week later, a 

group of educational policy 

makers and business leaders 

from North Carolina’s Center 

for International 

Understanding and the 

Public School Forum also 

called on Keppel O&M to get 

a close-up view of the yard’s 

operations and facilities. 

keppelite 


12 Team 

No one walks alone at 

Keppel O&M 

The latest additions to the 


(Keppel O&M) family were 

given an insight to the 

organisation’s structure, 

heritage, practices and 

policies during the Keppel 

O&M corporate orientation 

on 21 December 2007. 



O&M, together with senior 

managers were present to 

welcome the new employees 

and answer their questions 

during the orientation. 

Building camaraderie amongst new employees while helping them integrate with the organisation is of highest priority 

Into its 17th run since its 

inception in March 2006, the 

orientation allows new 

Keppelites to get acquainted 

with each other and also 

helps to integrate them 

into the organisation. The 

programme has benefitted 

more than 700 employees 

who joined the company. 

“It’s like going to school on 

the first day and not knowing 

anyone. It can be quite 

overwhelming as Keppel 

O&M is a huge organisation. 

Through the orientation, 

new members know that 

they are not alone and that 

the management actively 

engages employees at all 

levels. Their mentors are also 

introduced to them during 

these sessions,” explained 

Cindy Lim, Keppel O&M’s 

Senior HR Manager, whose 

department is the facilitator 

for the orientation. 

At each orientation session, 

a veteran Keppelite is invited 

to share an inspirational job 

experience with the new 

employees. The speaker this 

time was Leow Ban Tat, 

Senior Marketing Manager 

of Keppel FELS. 

Not only did he speak about 

the overseas experiences and 

career opportunities he had 

in his more than four years 

with Keppel, he also shared 

his principles for personal 

success, urging everyone to 

balance the 3 Ps, namely, 

Patience, Perseverance and 

Politeness. keppelite 

Core Values goes to Bintan 

As part of the Core Values 

coaching programme, 

Keppel O&M Group 

HR conducted a 

teambuilding workshop 

for subsidiary Bintan 

Offshore’s 78 employees 

on 13 and 14 December 

2007. 

Applying a series of 

specially-designed 

teambuilding activities, 

the workshop helped 

build staff motivation, 

loyalty and team spirit by 

spreading the Group’s core 

values with employees. 

Launched on 8 August 

2002, Keppel O&M’s Core 

Values is an important tool 

for sharpening employees’ 

focus on company’s goals. 

This was followed by 

the introduction of the 

Core Values icons on 

6 November 2006 which 

have been well-received 

in both Singapore and 

overseas yards. 


Team 13 

Chairman Lim appointed 

Presidential Adviser 

Mr Lim Chee Onn, Executive 

Chairman of Keppel Corporation 

has been appointed as an alternate 

member of the Council of 

Presidential Advisers for a four-year 

term with effect from 2 January 


Mr Lim was one of three new 

members sworn in to the Council 

including former Supreme Court 

judge Mr Goh Joon Seng and 

Singapore Airlines chairman 

Mr Stephen Lee. 

The eight-member Council was 

formed in 1992 to advise the 

elected president on the use of his 

veto powers on the spending of 

national reserves and key public 

appointments. keppelite 

Executive Chairman, Mr Lim Chee Onn was sworn into the Council of Presidential Advisers on 9 January 2008 at the Istana 

Brunei Energy Minister visits Keppel 

Mr Nelson Yeo (2nd from left) showing 

HE Pehin Dato Yahya (3rd from left) the 

outfittings on Peregrine II during his visit of 

the yard 

Brunei Minister of Energy, 

HE Pehin Dato Yahya 

visited Keppel Shipyard on 

12 January for a tour of the 

drillship that will be working 

off the shores of his country. 

He was received by Chairman 

& CEO of Keppel O&M, 

Mr Choo Chiau Beng, as 

well as Keppel Shipyard’s ED, 

Mr Nelson Yeo who gave 

an overview of the yard’s 

operations. 

The drillship, Peregrine II, 

which was being outfitted at 

Keppel Shipyard for Frontier 

Drilling will be leased to Shell 

for operations in offshore 

Brunei. 

Key representatives from 

Frontier Drilling and Shell also 

presented the workings of 

the vessel. 

Mr Graham Henderson, MD 

of Brunei Shell Petroleum 

said of the vessel, “It’s only 

when you see these things in 

reality that you realise how 

incredible it is. This is a very 

important project for us in 

Brunei.” 

Of the yard, he added, “The 

safety here is fantastic. I’ve 

never been given so much 

safety gear before in my life. 

You could just feel everyone 

lives and breathes safety here 

and we appreciate that.” 

The visit demonstrated the 

warm relationship between 

the various parties and 

provided talking points for 

further discussions. keppelite 


14 Team 

Insuring opportunities 

Mr Nick Sansom engages the audience with his views on marine insurance 

Mr Nick Sansom 

Like any service industry, 

insurance is heavily 

dependent on financial and 

human capital, just as it is for 

the offshore and marine 

industry. 

At the 22nd Chua Chor Teck 

Memorial Lecture (CCTML), 

speaker Mr Nick Sansom 

encouraged his audience – 

hailing from the offshore and 

marine industry as well as 

academia – to consider a 

career in marine insurance. 

With plentiful opportunities 

and exposure to global 

operations, marine insurers 

play an important role in the 

industry. 

Speaking at the Lecture 

titled ‘Marine Insurance: 

Past, Present and Future’, 

Mr Sansom shed light on the 

development of the marine 

insurance industry over 

the last thirty years, both in 

Singapore and worldwide. 

He shared that the growing 

capacity of Singapore’s hull 

market is largely attributed to 

several factors. Among these 

are an increase in the number 

of shipowners with presence 

here as well as government 

initiatives that encourage 

ship operators and marine 

insurers to make Singapore 

their base. 

According to Mr Sansom, the 

next stage of development is 

to have Singapore become a 

wholesale insurance market 

for Asian – and ultimately 

global – shipowners. 

Held in memory of the 

late Mr Chua Chor Teck, 

the Lecture took place at 

the Singapore Polytechnic 

Auditorium on 16 January 


It is organised by the Society 

of Naval Architects and 

Marine Engineers of 

Singapore. 

Apart from supporting the 

CCTML, a Memorial Fund 

also gives out scholarships 

in keeping with Mr Chua’s 

dedication to attracting 

talents to the marine 

industry. To read more 

about the late Mr Chua 

and the Fund, visit 

www.kepcorp.com/ 

CCT_Memorial_Fund_Trustee. 

keppelite 

Mr Nick Sansom is the 

Senior Vice President 

and Head of Marine in 

Asia of Marsh (S) Pte Ltd. 

Mr Sansom was a 

barrister before working 

in marine insurance. 

Having built a strong 

grounding in claims 

and loss prevention, 

he moved into 

underwriting. 

He is a council member 

of the Singapore 

Shipping Association, a 

member of the Ship 

Insurance and Legal 

Committee of the Asia 

Shipowners Forum and 

vice-president of 

the Maritime Law 

Association of 

Singapore. 


Team 15 

Learning from the region 

The main hall in Keppel 

Shipyard was abuzz with 130 

people from Keppel FELS, 

Keppel Shipyard and Keppel 

Singmarine. It had to be an 

especially interesting event to 

draw such a crowd on the 

Saturday before Christmas – 

and indeed it was. 

They had gathered on 

22 December 2007 to listen 

to a presentation by two 

groups of Keppelites who 

shared their experiences of 

visiting the two shipbuilding 

powerhouses of Korea and 

China. 

Both groups set out with a 

mission to “See, hear, 

network and learn”. Judging 

from the presentations and 

the enthusiastic response of 

their audience, the two 

groups fulfilled their goals 

very well. 

Ivan Lim, Project Manager, 

Keppel Shipyard presented 

the first talk, “2Oth FPSO 

Conference & Visit to DSME 

Shipyard”. During their short 

but busy trip, the group 

attended the 20th FPSO 

conference, visited Hyundai 

Heavy Industries shipyard 

and DSME Shipyard and met 

with Mr Alex Monsen, 

General Manager (Projects) 

for Seadrill. 

The “takeaways” from the 

trip to Korea were plenty. In 

particular the detailed 

planning put in by the 

Cultural exchange – Employees of Keppel O&M learn from their Chinese and Korean counterparts 

Korean shipyards at the 

design level impressed the 

group. Another aspect 

was the Korean shipyards’ 

achievement in replacing 

scaffoldings with a cherry 

picker system. 

The group shared that the 

Korean system had allowed 

the country’s shipyards to 

scale new heights in the ship 

building industry. 

The second talk was 

presented by a group 

undergoing a Masters 

in Science in Marine 

Technology (International) 

In University of Newcastle 

upon Tyne. 

They visited Shanghai, China 

for a study trip from 

26 November to 2 December 

2007. The participants in 

this programme were from 

Keppel FELS, Keppel Shipyard 

and Keppel Singmarine. 

The group talked about 

their experiences attending 

Marinetec China 2007 and 

the Senior Maritime forum as 

well as visiting Wai Gao Qiao 

Shipyard, Keppel Nantong 

Shipyard and Shanghai 

Shipyard. They also had the 

opportunity to visit Yang 

Shan Port and Shang Hai Jiao 

Tong University. 

Wong Jen Ming, Project 

Manager of Keppel Shipyard 

said enthusiastically, “It was 

a really enlightening trip. We 

were able to observe the 

development of China’s 

shipyards on a first-hand 

basis. We also saw the 

collaboration between 

academia and industry in 

China. 

“This enabled us to expand 

and broaden our views and 

share ideas and ideals to see 

and to learn the exponential 

growth in Chinese 

shipbuilding industry and the 

strategies and methods used 

by the Chinese government 

to progress towards its goal 

of becoming the world’s 

largest shipbuilding country 

by 2015. 

“I have learnt and gained a 

lot experience from this 

China trip and look forward 

to more such trips 

in the future as they are 

really beneficial to people 

in our industry.” 

At the end of the session, 



Offshore & Marine 

commented, “We can learn 

from yards that are both 

less advanced and more 

advanced than us so that we 

can improve the services and 

solutions that we give our 

partners and customers. 

We have to continuously 

benchmark ourselves against 

the best to stay competitive.” 

keppelite 


16 Special Focus 

Keppel Bay transformed 

2008 is off to an auspicious start with a series of milestones accelerating dramatic 

transformations at Keppel Bay. 

ILLUMINATING THE 

SOUTH 

Singapore’s new landmark 

bridge at the southern 

waterfront, Keppel Bay 

Bridge, was named and 

opened by His Excellency 

S R Nathan, President of 

Singapore in a grand light-up 

ceremony on 3 January 

2008 involving spectacular 

pyrotechnics across its 

250-m span. 

“This new landmark bridge 

forms part of the masterplan 

and infrastructure to 

transform Keppel Bay into a 

premier waterfront precinct 

that integrates exclusive 

waterfront residences, a 

private marina and prime 

offices. 

Keppel Bay Bridge forms part of the masterplan and infrastructure to transform Keppel Bay into a premier waterfront precinct that integrates exclusive 

waterfront residences, a private marina and prime offices 

“Through building value 

and premium into Keppel 

Bay, we are playing our part 

to enhance Singapore’s 

live-work-play environment 

and contribute to the 

government’s Tourism 2015 

vision to transform the 

Sentosa – Harbourfront – 

Mount Faber Precinct into a 

world-class destination,” 

said Mr Teo Soon Hoe, Senior 

Executive Director and Group 

Finance Director of Keppel 

Corporation. 

Providing both pedestrian 

and vehicular access, the 

bridge links Marina at Keppel 

President Nathan was given a tour of the iconic Keppel Bay Bridge – HE S R Nathan, President of Singapore; Mr Teo Soon Hoe, Keppel Corporation’s Senior 

Executive Director and Mr Lim Chee Onn, Keppel Corporation’s Executive Chairman 


17 

Ms Wang Look Fung, Keppel Group Corporate Communications General Manager and 

Vietnam Ambassador, HE Nguyen Trung Thanh 

HE Patricia L Herbold, United States Ambassador and Mr Lim Chee Onn, Executive Chairman 

of Keppel Corporation 

Mr Tong Chong Heong, Keppel Offshore & Marine’s MD and COO; HE J Arturo Montoya, 

Ambassador of Peru and Mrs Montoya 

Keppelites past and present witnessed the transformation of the place where they had worked 

Mrs Eileen Choo, wife of Mr Choo Chiau Beng; Mr Nelson Yeo, Keppel Shipyard’s ED and 

Dr Lee Tsao Yuan, independent director of Keppel Corporation 

Bay and future waterfront 

residences on Keppel Island 

to the mainland. This results 

in a seamless walking route 

covering more than three km 

round the Bay which 

stretches from Reflections 

at Keppel Bay, through 

Caribbean at Keppel Bay, 

around the Keppel Island and 

to Keppel Bay Tower at 

the Harbourfront, where 

Keppel is headquartered. 

Keppel Bay Bridge, built at 

the cost of nearly $30 million, 

was jointly designed by 

DCA Architects and TY Lin 

International and constructed 

by Penta Ocean Construction 

Co. 

At night, the bridge is artfully 

lit, glowing as a vibrant 

nucleus to attractions 

surrounding the Bay. With 

programmable special effects 

Continues on page 18... 



...continued from page 17. 

lighting, the pylon and staycables 

are lit by spot-lights 

and its span by changing LED 

lights which can be tailored 

to suit the occasion. 

Residents at Keppel Bay 

and visitors alike can look 

forward to a great walking 

experience. Apart from 

panoramic scenic views of 

Sentosa Island and its 

upcoming Integrated Resort, 

the Harbourfront and Vivo 

City, Singapore Cruise Centre 

and Marina at Keppel Bay, 

pedestrians can gain quick 

insights into the rich 

historical surroundings 

through a series of 

informative plaques along 

the pedestrian walkway on 

the Bridge presented by the 

Keppel Group. 

BREAKING NEW 

GROUND 

Work has commenced for 

Asia’s iconic waterfront 

residences, Reflections at 

Keppel Bay, with a 

groundbreaking ceremony 

held on 8 January 2008. At 

the ceremony, Mr Teo Soon 

Hoe, Senior Executive 

Director and Group Finance 

Director of Keppel 

Corporation, announced 

that the main contract for 

Reflections at Keppel Bay, 

worth about $1 billion, has 

been awarded to Woh Hup. 

The 1,129-unit premier 

waterfront development is 

expected to be completed by 

2013. Mr Teo said, “We 

intend to bring together 

some of the finest names and 

brands in the industry to lend 

their signature quality to our 

developments at Keppel Bay. 

That is the reason why we 

have spared no efforts in 

going for the best to ensure 

that the waterfront 

residences at Reflections at 

Keppel Bay enjoy the highest 

quality in terms of fittings 

and fixtures, installation and 

features. 

“We are therefore happy to 

announce that we have 

awarded to Woh Hup the 

main contract amounting 

to some $1 billion for 

Reflections at Keppel Bay. 

“Woh Hup, one of 

Singapore’s leading 

construction companies, has 

an impressive track record 

and has won recognition not 

only for high quality execution 

and standards but also for its 

commitment to safety.” 

The first phase of Reflections 

at Keppel Bay, comprising 

some 620 waterfront homes, 

has been sold out and its 

much anticipated second 

phase is expected to be 

launched some time this 

year. 

Breaking new ground for Reflections at Keppel Bay – (From left) Mr Kevin Wong, Group CEO of Keppel Land; Mr Teo Soon Hoe, Senior Executive Director and Group Finance Director of Keppel 

Corporation; Mr Lim Chee Onn, Executive Chairman of Keppel Corporation and Mr Kim Yong, Deputy Chairman & Project Director of Woh Hup 


19 

Turning vision into reality – Senior Minister Goh Chok Tong (centre) opens Singapore’s new luxury waterfront playground, Marina at Keppel Bay witnessed by (from left) Mr Kevin Wong, Group 

CEO of Keppel Land; Mr Teo Soon Hoe, Senior Executive Director and Group Finance Director of Keppel Corporation; Mr Lim Chee Onn, Executive Chairman of Keppel Corporation and Mr Choo 

Chiau Beng, Senior Executive Director of Keppel Corporation 

NEW LUXURY 

WATERFRONT 

PLAYGROUND PREMIERES 

Singapore’s latest premier 

nautical destination, Marina 

at Keppel Bay, was opened 

on 19 January 2008 by 

Senior Minister Goh Chok 

Tong in a spectacular 

ceremony which saw the 

arrival of the fleet in the 

Clipper 07-08 Round the 

World Yacht Race (Read 

more about Clippers at 

Keppel Bay on pages 22-27). 

Located on the privately 

owned Keppel Island, yet 

minutes from the city centre 

via the iconic Keppel Bay 

Bridge, Marina at Keppel 

Bay is poised to be one 

of Asia’s top marina 

destinations alongside prime 

developments in the 

32-hectare Keppel Bay 

waterfront residential 

precinct. 

“Keppel Bay is envisioned to 

be a place where people, 

boaters and non-boaters, 

can come to enjoy the best 

of what Singapore’s premium 

waterfront has to offer. 

“Marina at Keppel Bay will 

enhance the premier and 

intimate waterfront lifestyle 

experience for homeowners 

in Keppel Bay, boaters from 

the region as well as visitors 

to Keppel Island with its 

premium berths, fine dining 

experiences and warm 

hospitality,” said Mr Lim Chee 

Onn, Executive Chairman, 

Keppel Corporation. 

Designed by leading 

architects and marina 

consultants Alfred Wong & 

Partners and Bellingham 

Marine Industries, the 

S$30 million Marina at 

Keppel Bay features state-ofthe-art 

Unifloat © modern 

concrete floating berths for 

170 yachts, including mega 

yachts of up to 250 feet. 

The berths will be 

constructed over two phases, 





with 75 berths in phase one 

constructed at a cost of 

approximately $9 million. 

Marina at Keppel Bay is the 

first marina in the region to 

have a reticulated vacuum 

sewer pump-out system. 

Commenting on the 

partnership with Keppel 

in an interview with The 

Business Times, Mr J. 

Everett Babbitt, President of 

Bellingham Marina noted, 

“Keppel is a very honourable, 

outstanding company and 

our talents mesh well 

because we bring a high 

degree of technical skills 

while they have all the 

contacts and infrastructure 

base throughout Asia.” 

Marina at Keppel Bay also 

features new fine dining 

experiences which include 

the multiconcept F&B 

entertainment venue Privé; 

The Wine Glass, a bayfronting 

bar; Southeast Asia’s 

first Takumi Tokyo Japanese 

restaurant; The Coffee 

Connoisseur and The Island 

Suite, a private dining room 

with an ensuite designer 

show kitchen by Miele. 

THE WORLD MEETS AT 

MARINA AT KEPPEL BAY 

Boat Asia 2008, the region’s 

leading leisure boat and 

luxury waterfront lifestyle 

event, will be held at Marina 

at Keppel Bay from 24 to 

27 April 2008. 

Produced by TMX Show 

Productions Pte Ltd (TMX), 

this is the first time Boat Asia 

– a top-draw annual show 

Singapore’s new luxury waterfront playground at Keppel Bay premieres 


21 

Marina at Keppel Bay will enhance the intimate waterfront lifestyle experience for homeowners in Keppel Bay 

Boat Asia 2008 steers into Marina at Keppel Bay. (From left) Mr Herman Ho, MD of TMX 

Show Productions and Mr Augustine Tan, CEO of Singapore Residential, Keppel Land 

for potential owners of 

luxury boats as well as 

thousands of boating 

enthusiasts in the region - is 

being held on the private 

Keppel Island. 

A highlight in the region’s 

social calendar, Boat Asia will 

feature on-water display of 

luxury motor yachts, sail 

boats, keel boats and 

catamarans, mega yachts 

and super yachts amidst a 

carnival atmosphere with 

music and fun. 

Thousands of general 

boating enthusiasts will 

visit on-land displays 

comprising speed boats, jet 

skis and sailing yachts, 

marine equipment and 

accessories, luxury resorts 

and properties and high-end 

consumer lifestyle products. 

With the rising number of 

wealthy individuals in the 

region who are drawn to 

Singapore as a centre for 

their investments or leisure 

activities, TMX is confident 

that Boat Asia 2008 should 

see even bigger deals being 

concluded than before. 

Mr Herman Ho, TMX’s 

Managing Director, said, 

“As the producer of the 

prestigious Boat Asia, which 

has won several accolades in 

the past, TMX is honoured to 

partner Marina at Keppel Bay 

with its world-class facilities, 

professional team and prime 

location. 

“This year’s event promises 

to be the premier leisure 

boating event in the region 

which will put Singapore on 

the map as a leading 

yachting destination. 

Together with Marina at 

Keppel Bay, we are confident 

that we will grow from 

strength to strength.” 

“Keppel is delighted to 

partner with TMX to 

promote Singapore as Asia’s 

leading sailing and boating 

destination through 

prestigious events such as 

Boat Asia. Our partnership is 

a marriage of strengths 

which will contribute to the 

vision and vibrancy of this 

southern waterfront. 

“Marina at Keppel Bay 

stands ready with its 

premium berths and facilities 

to host Boat Asia, which we 

believe will emerge as one of 

the world’s premier boat 

shows,” said Mr Augustine 

Tan, Chief Executive Officer, 

Singapore Residential of 

Keppel Land. keppelite 


22 Team 

Clippers return to Keppel Bay 

Homeward bound – The Uniquely Singapore Clipper leads the Clipper 07-08 Race Fleet into Singapore waters 

ARRIVING IN STYLE 

Singapore celebrated the 

return of the 10 international 

ocean racing yachts in the 

Clipper Round the World 

Yacht Race at the brand new 

Marina at Keppel Bay on 

19 January. 

This was the second time 

that Singapore is fielding an 

entry in the Clipper Round 

the World Yacht Race. The 

main sponsor of Uniquely 

Singapore for the Clipper 

07-08 Race is Keppel 

Corporation, together with 

race partner, the Singapore 

Tourism Board. 

The Clipper 07-08 Race Fleet 

sailed in from Fremantle, 

making an eventful nine-day 

stop-over in Singapore 

before continuing the race 

to Qingdao, China on 

27 January 2008. 

At the opening of Marina at 

Keppel Bay, Senior Minister 

Goh Chok Tong also 

bestowed the Uniquely 

Singapore Cup, sponsored 

by Keppel, upon New York 

Clipper, who won the race 

from Fremantle to Singapore. 

In close pursuit were 

Liverpool 08 and 

Westernaustralia2011.com 

RACE 05 – FREMANTLE TO SINGAPORE 

1 New York 

2 Liverpool 08 

3 westernaustralia2011.com 

4 Hull & Humber 

5 Durban 2010 and Beyond 

6 Glasgow: Scotland with style 

7 Uniquely Singapore 

8 Nova Scotia 

9 Jamaica 

10 Qingdao 


Onboard Uniquely Singapore Team 23 

(Top left) Bottoms up! Crew of the winning 

New York Clipper savour their sweet success 

(Top right) Last but definitely not the least – 

Qingdao Clipper’s crew members celebrate 

in high spirits 

(Right) An international parade – Some 200 

crew members from the 10 Clipper yachts 

disembarked at Keppel Bay during the 

Singapore stop-over 

(Right bottom) Residents of Caribbean at 

Keppel Bay camped out along the 

waterfront promenade in anticipation of 

catching the Clipper fleet’s arrival 

who garnered second and 

third positions respectively. 

Equally celebrated on 

this much anticipated 

homecoming leg was the 

Uniquely Singapore Clipper 

in seventh position. The 

Uniquely Singapore is crewed 

19 members including 

Skipper Mark Preedy, Keppel 

Ambassadors Koh Kok Siong 

and Diana Chan, as well as 

an ASEAN contingent 

supported by the Ministry of 

Foreign Affairs in celebration 

of ASEAN’s 40th Anniversary. 

“We share the same vision 

with our race partner 

Singapore Tourism Board to 



24 Team 

The arrival of the international Clipper 07-08 Race Fleet lent colour and excitement to Singapore’s vibrant southern waterfront hub, of which Keppel Bay is an integral part 


showcase the Uniquely 

Singapore brand to the 

world and to promote 

Singapore globally as a 

“must visit” destination. 

“The return of the 

international Clipper race 

fleet was timely and lent 

colour and excitement to this 

vibrant southern waterfront 

hub. 

In seventh heaven – Homecoming Uniquely Singapore Clipper makes a roaring entry 

“In concert with the slew 

of exciting waterfront 

developments and activities 

at Keppel Bay, Sentosa and 

the surroundings, Marina 

at Keppel Bay looks forward 

to draw even more 



(From left) Michelin-starred Chef Martin Wishart of Restaurant Martin Wishart, Edinburgh stirs up the action aboard the Glasgow clipper; Chef Joseph Martin of Pan Pacific, Singapore, reckons 

he’s probably the only roti prata-making ‘ang-moh’ (Caucasian) around; Raymond Capaldi, Executive Chef at Fenix, Melbourne makes himself at home in the galley of the Western Australia 

Clipper 

A Uniquely Singapore birthday – Uniquely Singapore skipper Mark Preedy celebrates his 36th 

birthday on arrival into Keppel Bay 

international yachts and 

boaters to visit Singapore,” 

said Mr Lim Chee Onn, 

Executive Chairman of 

Keppel Corporation. 

On the Singapore stop-over, 

Sir Robin Knox-Johnston, 

Founder of Clipper Ventures 

said, “Singapore has been a 

significant stop in all six 

Clipper Races and we are 

delighted that once again 

there is a boat proudly 

carrying the name of 

Singapore around the major 

ports of the world. The race 

has proved an excellent way 

to illustrate the maritime and 

commercial strengths of this 

vibrant country.” 

WHIPPING UP A STORM 

In conjunction with the 

arrival of the Clipper 07-08 

Round the World Yacht Race 

fleet in Singapore, three top 

Scottish chefs representing 

Australia, Scotland and 

Singapore took part in 

an inter-boat cook-off 

competition aboard the 

westernaustralia2011.com; 

Glasgow: Scotland with Style 

and Uniquely Singapore 

berthed at Marina at Keppel 

Bay. 

Michelin-starred Martin 

Wishart along with two 

other award-winning chefs, 

Raymond Capaldi of Fenix, 

Melbourne and Joseph 

Martin, Pan Pacific 

Singapore, pitted their 

culinary skills in the galley of 

the respective Clipper yachts 

before a distinguished panel 

of connoisseurs and the 

media. 

The rules were simple – the 

food had to have taste, style, 

be innovative and reflect the 

personality of the three 

nations in which they work 

and be suitable for crews to 

cook at sea. 

Special guest Sir Robin Knox- 

Johnston, founder of Clipper 

Ventures, also joined in the 

culinary escapade, whipping 

up his infamous ‘bully beef 

curry’. 

Blending rich heritage with 

current culinary trends and 

ingredients, the event left 

everyone with a unique 

and memorable dining 

experience. 



26 Team 


ASEAN AT HOME 

As part of the Uniquely 

Singapore experience, the 

ASEAN contingent was 

hosted by several local crew 

members in their homes 

during the nine-day stopover. 

The ASEAN home-stay 

programme encouraged the 

crew to spend quality time 

together, while getting to 

know more about Singapore 

and its myriad of cultures and 

cuisine. 

The word ‘unique’ best sums up my 

Singapore experience. This is my second time 

in Singapore and I have learnt a lot from my 

home-stay with Desmond. I take public 

transport, and in doing so, had the 

opportunity to observe firsthand how 

Singaporeans live and work. Chinatown was 

my favourite place. The food, atmosphere, 

lights and sounds reminded me of 

Chinatown back in the Philippines. As we 

embark on the next race, I am thankful for 

the wonderful memories of Singapore and 

the many friendships I have forged here. 

Valerio B. Ramos Jr, 

ASEAN crew member, The Philippines 

Serious crew bonding sessions take place in the evenings in the homes of the local crew as 

well as out at Singapore’s best known hangouts 

Living in a HDB flat with Yolyn Sim and 

her family is the best part of my stay in 

Singapore. Together with the other Clipper 

crew members, I was fortunate to explore 

Singapore in an atypical way, similar to 

reality show, The Amazing Race. We had 

to search for clues in different parts of 

Singapore which brought us to locations 

like Raffles Place, Little India and 

Chinatown. It was exceptional! 

Erma Rheindrayani Siswowaluyo, 

ASEAN crew member, Indonesia 

Singapore, we love you! 

The Singapore stopover was absolutely 

fantastic! It’s nice to have had such a warm 

welcome after being out at sea for so long. 

Harry Smith, 

Crew member of the Jamaican Clipper 

Fast friends – ASEAN crewmember Valerio B. Ramos Jr (right) and his host Keppel Ambassador 

Desmond Lim 

Singapore is one of the best stopovers so far 

and the hospitality has been wonderful. It’s 

a pity to have to leave the warmth behind 

and head out into the cold in Qingdao, 

but we are ready for the adventure! 

Lyn Condratoff, 

Crew member of the Western Australia Clipper 



A close encounter – Western Australia’s crew member comes face to face with the lions of 

Singapore, who presented them with mandarin oranges for good luck 

Lions rally to bestow Uniquely Singapore with an auspicious start in the race to Qingdao – 

From Left: Ms Winnie Pua, STB’s Director of Brand Management; Mr Teo Soon Hoe, Senior 

Executive Director of Keppel Corporation; Mark Preedy, Skipper of Uniquely Singapore; 

Mr Lim Chee Onn, Executive Chairman of Keppel Corporation and Sir Robin Knox-Johnston, 

Founder of Clipper Ventures with the Uniquely Singapore crew members 

RACING OFF TO 

QINGDAO 

After nine days of adventure 

and discovery on the sunny 

shores of Singapore, the grand 

fleet of 10 Clipper yachts 

bade farewell to the island 

on 27 January 2008 to reembark 

on the race to 

Qingdao. 

“In the last nine days, we 

have seen families, friends 

and fans of crew members 

from all across the world rally 

to cheer on the Clipper fleet. 

The Clipper 07-08 Race 

stopover at Marina at Keppel 

Bay has not only added 

colour and excitement to this 

vibrant southern waterfront 

hub; it has also generated 

goodwill for the local sailing 

fraternity and raised public 

interest in the sport,” said 

Mr Lim Chee Onn, Executive 

Chairman of Keppel 

Corporation, who flagged 

off the Clipper yachts at 

Marina at Keppel Bay. 

Bon Voyage Uniquely Singapore! Families, friends and well-wishers rush to say their goodbyes as the yacht sails out of Keppel Bay 

The Clippers were also sent 

off by a majestic pride of 20 

lions, which presented each 

of the ten skippers with a 

scroll wishing them – yi fan 

feng shun, peng cheng wan 

li – smooth sailing and a 

bright future ahead, as well 

as mandarin oranges for 

good fortune and prosperity. 

keppelite 


28 Team 

Goodbye 2007, Hello 2008! 

Old friendships were 

rekindled and new ties made 

on 31 December 2007 

when senior employees of 


gathered to celebrate the 

organisation’s sterling 

performance in 2007 as well 

as usher in the new year. 

In line with the theme of 

“All That Glitters”, the 

celebration was held at the 

Reflections at Keppel Bay 

show gallery and guests were 

dressed to the nines. 

Keppelite shares some 

moments of the night filled 

with dance, games and 

cheer. keppelite 

Farewell 2007, Welcome 2008! 

Penning good wishes to Keppel O&M 

Joining in the celebration were 

friends from Keppel Corporation’s Group Corporate 

Communications 

Keppel Corporation Executive Chairman, 

Mr Lim Chee Onn gets a surprise from 

one of the performers 


Team 29 

Mrs Eileen Choo (first from left), Miss Wang Look Fung 

(second from left), GM, Group Corporate Communications, 

Keppel Corporation and dancers from Dance Dynamix 

entertained the crowd with several dance routines 

Even the youngest ones enjoyed a dance workshop where they picked up some moves 

Showing how nimble he is, Mr CY Ho, Senior GM 

(Group Procurement) of Keppel O&M clears the 

limbo stick with ease 

Turning up the heat on the dance floor 


30 Team 

Vigilance put to the test 

It seemed to be a normal work 

morning on 11 December 

2007 when security personnel 

spotted a suspicious looking 

male entering Keppel 

Shipyard Benoi on a sampan 

through the slipway. 

Minutes later, yellowish 

smoke could be seen on 

board the Vessel Golar Spirit. 

Workers onboard the vessel 

were immediately evacuated. 

The Singapore Civil Defence 

Force (SCDF) and Police were 

alerted as Keppel’s Safety 

and Security officers swung 

into action, rushing to the 

scene in an instant. A search 

party for the suspect began 

in earnest while another 

force equipped to handle 

such critical situations 

assisted the SCDF to 

investigate the nature of the 

agent used in the chemical 

gas attack. 

The suspect was soon found 

and SCDF escorted him 

down and proceeded to 

decontaminate him. It turned 

out that the intruder was 

a disgruntled ex-contract 

worker who purchased 

ammonia gas and set it off 

on board the vessel to 

vent his frustrations against 

the Keppel Shipyard 

Management. 

The intruder was then 

handed over to the police to 

be dealt with according to 

the law. 

Having neutralised the 

ammonia gas and 

ascertained that it was not a 

terrorist-related incident, the 

green light was given for the 

Exercise to stand down. 

Keppel Shipyard (Benoi) security expertly assisting the SCDF with the containment of the 

suspected chemical attack 

A Command Post was also 

set up for command and 

control in co-coordinating 

both the external and 

internal response teams. 

People complaining of any 

symptoms such as itchiness, 

teary eyes, shortness of 

breath or vomiting were 

referred to the yard’s inhouse 

doctor at the 

temporary First Aid centre. 

They showered off and were 

quarantined before the 

arrival of the SCDF for a 

chemical decontamination. 

SCDF officers decontaminating the suspect as they bring him down from the vessel 


Team 31 

This marked the end of a 

successful joint Exercise code 

named “Hazmat” held 

with the Divisional Police, 

Singapore Civil Defense 

Force (SCDF), Police 

Coastguard, Captain of the 

vessel “Golar Spirit” and the 

Yard’s Security & Safety at 

Keppel Shipyard Benoi (KSB). 

This was the sixth in a series 

of International Ship and 

Port Facility Security Code 

(ISPS) exercises since it 

started in mid 2004, aimed 

at strengthening Keppel 

O&M’s Business Continuity 

Plan (BCM). 

The plan was painstakingly 

developed to identify 

potential threats and their 

impact on the organisation’s 

operations. 

Employees of CSC being “quarantined” at the medical centre while undergoing temperature checks 

This in turn will help in the 

development of response, 

continuity and recovery 

plans to ensure that 

critical functions recover 

promptly and increase the 

organisation’s resilience to 

unplanned disruptions in 

assets and personnel. 

Anthony Toh, Group Security 

Manager of Keppel O&M 

said, “This exercise may have 

taken many months to plan 

but it has now prepared us 

to save many lives and 

help set in place proper 

procedures for the future of 

the company. Combined 

training and exercises with 

Government agencies help 

us hone our own security and 

safety procedures when 

faced with compromising 

situations. 

“It is an exercise everyone in 

the yard appreciates, from 

customers to sub-contractors 

and our exercise today is 

testament to the effectiveness 

of our BCM plan.” 

CASPIAN SHIPYARD KEEPS 

CLEAR OF AVIAN FLU 

The outside temperatures 

were already freezing at 

Caspian Shipyard Company 

(CSC) when employees 

starting the day’s work found 

their own temperatures 

being taken to check for 

Avian Flu. 

Over five days, from 

6 December 2007, CSC 

conducted random 

temperature testing to gauge 

the yard’s pandemic 

preparedness in the event of 

a potential outbreak. This 

would help protect the 

health of its workers and 

minimise any disruption to 

the yard’s operations. 

More than 50 employees 

were tested and despite 

the cold weather, the 

exercise was well-received 

as employees realised 

susceptibility to the virus 

occurs regardless of the 

weather. 

Chief Financial Officer, Elshan 

Kurbanov said, “The bird 

flu exercise at CSC was part 

of of Keppel O&M’s risk 

managment strategy for 

overseas yards like CSC. This 

helps us to stay vigilant. We 

feel prepared in the event of 

an outbreak that the yard’s 

operations will not be 

disrupted. 

“We have learnt well from 

this exercise and improved 

our existing procedures.” 

keppelite 


32 People 

Keppelites Abroad 

Fresh start in Tianjin 

At 26, Yeo Hwee Pey is 

perhaps among the youngest 

Keppelites to venture on an 

overseas posting. 

After a little over three 

years with Keppel Land’s 

Regional Investments team in 

Singapore, the gutsy young 

lady decided to uproot 

herself to take on new 

challenges in the belly of 

China’s rising second-tier city, 

Tianjin. 

“Having accumulated some 

work experience at 

headquarters (Keppel Land), 

I hoped to gain more handson 

experience and exposure 

from an overseas posting, so 

when William Tan, my 

mentor under the Regional 

Investments Young Managers’ 

Programme mentioned that 

he was looking for additional 

manpower for the North 

China team, I grabbed the 

opportunity!” she says. 

Just a month into her 

posting, Hwee Pey is slowly 

settling into her new role 

in business development, 

which includes identifying 

and evaluating new real 

estate opportunities as well 

as securing new deals, 

among others. 

New as she is to the City, she 

observes that there are many 

people, Singaporeans for 

that matter, who have yet to 

hear of Tianjin. 

“Compared to the big cities 

like Shanghai and Beijing, 

Tianjin seems more ‘ulu’ 

(rural) so they wonder if there 

are modern amenities here. 

“In reality, there is a lot of 

buzz about Tianjin. It receives 

significant political and 

media attention and is 

geared to be the next hot 

spot following Shenzhen and 

Shanghai,” she explains 

passionately. 

Yet, Hwee Pey readily admits 

that it was tough at first to 

leave behind the comfort of 

home. “In Singapore, we are 

used to a certain way of 

doing things, there’s a sense 

of familiarity; you know what 

to expect and how to react. 

“One could afford to be 

passive in such an insulated 

environment, but once in a 

new place, I had to stop 

making comparisons to 

home and take the extra step 

to start asking questions and 

figuring out how things work 

here in Tianjin,” she says. 

But thanks to her warm, 

understanding colleagues, 

including those from 

Keppel Corporation’s 

Tianjin representative office 

and Keppel Integrated 

Yeo Hwee Pey makes bold strides into Tianjin 

Engineering who are just 

around the bend, Hwee Pey 

is never alone. 

“Interacting with them has 

been fun. Many of them 

have never visited Singapore 

and are eager to find out 

more. They find it strange 

that we don’t have the four 

seasons back home!” she 

muses. 

To Hwee Pey, her China 

posting is a natural 

progression from her previous 

work at Keppel Land’s 

headquarters. She reckons 

that she will be able to put 

what she has learnt over the 

past few years into good use. 

During her two-year stint 

in Tianjin, Hwee Pey also 

hopes to embark on greater 

adventures, seeing a chance 

to discover more about 

herself. 

“I want to be right here in 

the thick of action to build 

up my business development 

skills. Before my commitments 

grow as I get older, I wanted 

to have a taste of life out there 

on my own and to stretch my 

limits, to see how far I can go,” 

she says. keppelite 


Community 33 

People 33 

Rewarding excellence 

24 delighted young people 

received bursaries and 

scholarships at The Keppel 

Employees Union Scholarship/ 

Bursary Awards ceremony 

at the PSA Club on 

28 December 2007. 

These awards were for for 

PLSE, GCE “O” Level, 

polytechnic and university 

courses. 

Gracing the occasion was 

Mr Seng Han Tong, NTUC 

Assistant Secretary General 

and MP for Yio Chu Kang. 

Mr Phang Weng Onn, 

General Secretary of Keppel 

Employees Union said, “Our 

education system gives 

children the chance for 

upward mobility. Our system 

doesn’t ask where you live 

and where you come from. 

It only asks if you are capable 

and willing to scale the peaks 

of excellence.” 

Two-time award recipient 

Nithianathan s/o Sigamani 

who is pursuing his chemical 

engineering degree at the 

Nanyang Technological 

University, said, “I feel very 

privileged to receive this 

award, especially since I 

got one for my “A” levels. 

It has helped me to 

achieve my dream of 

becoming a chemical 

engineer.” keppelite 

Giving children of Keppelites a better future – The ceremony was witnessed by MP (Yio Chu Kang ) Mr Seng Han Tong (2nd row, 5th from right) 

Keppelites’ tour of duty 

Mr Koh Tah Seng has 

completed his secondment 

to PrimeSteelKit and has 

returned to Singapore as 

Senior Commercial Manager 

of Keppel Singmarine with 

effect from 10 January 2008. 

Mr Charles Yap will replace 

Mr Toh as General Manager 

of PrimeSteelKit as well as 

take up the appointment 

of General Manager 

(Business Development) of 

Keppel Singmarine starting 

22 December 2007. He 

leaves his post as President 

of Subic Shipyard & 

Engineering Inc after close to 

3 1/2 years there. 

Mr Mok Khim Wang, 

previously General Manager 

(Operations) of Keppel 

Shipyard (Benoi), has taken 

over the mantle of President, 

Subic Shiyard and 

Engineering Inc with effect 

from 19 Novermber 2007. 

Mr Albert Kee, the Yard 

Manager (Operations) of 

Keppel Shipyard (Tuas) has 

been promoted to General 

Manager (Operations) of 

Keppel Shipyard (Benoi). 

keppelite 


34 Community 

All eyes on health 

Our eyes are our windows to 

the world and we must take 

good care of them. 

There are many eye diseases 

that can occur without any 

signs or symptoms in their 

early development. And by 

the time you discover the 

problem, irreversible damage 

may have been inflicted to 

the eyes. It is therefore 

important to see your 

optometrist for regular eye 

examinations. 

The Keppel Credit Union 

(KCU) has recently tied up 

with the New Optometry 

and Ocular Care Centre 

(NOOCC) to offer KCU 

members a special rate 

for a comprehensive eye 

examination by professionally 

trained optometrists. 

Launched on 1 January this 

year, the tie-up will provide 

all KCU members an 

understanding of general eye 

care and to ensure that 

everyone has good eye 

health. 

To help KCU members better 

understand the subsidy, 

NOOCC and KCU held a 

presentation on 29 January at 

Keppel Shipyard’s (Tuas) 

Multi-purpose Hall. 

Length of Net Payment Subsidy Public Savings 

Membership By Member Amount Price $ % 

02-05 Years $47.40 $20.00 $80.25 $32.85 41% 

05-10 Years $42.40 $25.00 $80.25 $37.85 47% 

10-15 Years $37.40 $30.00 $80.25 $42.85 53% 

15-20 Years $32.40 $35.00 $80.25 $47.85 60% 

>20 Years $27.40 $40.00 $80.25 $52.85 66% 

Besides the special rate 

given by NOOCC, the cooperative 

will also subsidise 

the cost based on length of 

membership with KCU. The 

subsidies and savings are as 

follows: 

To enjoy the savings, simply 

obtain a letter / email from 

KCU. 

Do contact Donald Sng at 

6273 1555 or email 

donaldsng@kcu.org.sg. 

For further information, you 

may also contact NOOCC 

directly. 

NOOCC 

300 Margaret Drive 

Singapore 149302 

Telephone: 6471 1771 

Website: www.noocc.com 

Email: patientcare@noocc.com 

keppelite 

Enjoy up to 66% savings on eye checkups with the KCU – NOOCC tie up 


Community 35 

volunteers 

Keppel 

Greenhorns to green fingers 

For more than almost eight 

years since its inception, 

Keppel Volunteers has 

been actively engaged with 

its adopted charity, the 

Association for Persons with 

Special Needs (APSN). 

One of the APSN’s main 

objectives is improving the 

employability factor of its 

Centre For Adults (CFA) 

clients and the Keppel Group 

has sponsored $19,000 for 

their hydroponics farm pilot 

project. 

The CFA provides training 

and sheltered workshops for 

intellectually-disabled clients 

above 18 years old and APSN 

is constantly exploring new 

and innovative ways to train 

their clients with relevant skill 

sets. 

A hydroponics farm would 

provide this sheltered 

environment for the clients 

to learn skills in hydroponics 

farming that include seeding, 

transplanting, harvesting, 

cropping, packaging and 

selling the produce. 

In addition, their social skills 

can be further enhanced as 

they learn to work with 

different people. With the 

hydroponics facility, CFA will 

be able to train 150 clients 

on the farm. 

Starting the year off on 

a green note, Keppel 

Volunteers underwent a 

training session at the 

hydroponics farm on 

18 January 2008 to have 

a better understanding of 

the procedures. This would 

be essential for Keppel 

Volunteers to work 

effectively alongside CFA 

clients on the farm during 

future activities. 

Mr Teo Soon Hoe, Senior 

Executive Director and Group 

Finance Director of Keppel 

Corporation, was the Guestof-Honour 

at the APSN 

Hydroponics Farm Harvest 

ceremony that day. 

In his speech before officially 

opening the greenhouse, 

Mr Teo commended the 

Centre’s efforts. 

“I would like to applaud 

them for their work over 

the past few months and 

encourage their continuous 

efforts to learn and improve 

the operations of the farm,” 

he declared. keppelite 

Accompanied by Dr Francis Chen, APSN Acting President (left) and Mr Chan Chee Keong, 

Chairperson of APSN CFA Management Committee (right), Mr Teo harvested the first crop of 

vegetables at the opening ceremony of the hydroponics farm 

Keppel Volunteers learn the intricacies of hydroponics farming to develop their green fingers! 


36 

BackPage 

Second drillship awarded to 

Keppel by repeat customer 

Keppel Shipyard has been 

awarded a contract worth 

around $145 million to 

integrate and complete a 

new build “Bully” drillship. 

Keppel secured the contract 

with a company jointly 

owned by Frontier Drilling 

and Shell. 

This is the second drillship of 

the “Bully” rig design 

awarded to Keppel by the 

same owners. The first 

“Bully” drillship was 

awarded in June 2007 with 

delivery by fourth quarter 

2009. 

The new hull will be built in 

China and is due to arrive at 

Keppel Shipyard in the first 

quarter of 2009. The drillship 

is expected to be delivered by 

the second quarter of 2010. 

Mr Nelson Yeo, ED of 

Keppel Shipyard, said, 

“Owners continue to see 

value and viability in using 

Keppel to carry out the 

complex integration and 

completion of drillships and 

FPSOs utilising hulls built 

elsewhere.” 

The “Bully” drillships are 

designed to conduct surface 

BOP (Blow-out Preventer) 

drilling operations in water 

depths of up to 12,000 ft 

and sub-sea BOP operations 

in water depths of up to 

8,250 ft as equipped (up to 

10,000 ft capability). The 

total drilling depth below the 

drill floor is 40,000 ft. The 

drillships will also be 

equipped with ice-class hulls 

and fitted with Dynamic 

Positioning (DP-2) capabilities. 

Keppel Shipyard’s work 

scope for the Bully 2 includes 

installation, integration and 

completion of the owner 

supplied power generation, 

thrusters and drilling 

equipment packages on a 

new hull. keppelite 

The Keppel Shipyard and Frontier Drilling teams looking forward to another fruitful relationship as Mr Nelson Yeo, Executive Director of Keppel Shipyard (4th from right) seals the deal with Mr 

Vern Westerhout, Project Director of Frontier Drilling (6th from right)

January 2008 - Keppel Corporation

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