january 2010 - Keppel Corporation

keppellandchina.com

january 2010 - Keppel Corporation

eppel

JANUARY 2010

www.kepcorp.com/ekeppelite

Keppel Group Newsletter

Keppelite

Equipping China’s

largest WTE plant 6

Safety all the way 14

Lending a hand 34

Uniquely Keppel

MICA(P) NO. 169/01/2010

Keppelite I January 2010


9

22

26

Contents

SUSTAINING GROWTH

Expanding horizons in Vietnam 4

Equipping China’s largest WTE plant 6

Early start to 2010 8

Honouring a great ship 9

Steady improvement in performance 10

Keppel T&T seeks growth opportunities 11

Tianjin Eco-City to pilot eco-manufacturing base 12

Delivering hardy vessels 13

Safety all the way 14

Keeping pace 16

SPECIAL FOCUS

Homecoming for Uniquely Singapore 17

Double win for Keppel Nantong 21

Leveraging cyberspace

Qatar’s largest yard gears up for business 22

People matters 23

Marine Fellow

Missions accomplished 24

Buoyant milestone for P-56 25

Contributing to Qatar’s green vision

Union of hearts and minds 26

Ship of knowledge

Harnessing solar power 27

Light years ahead

EMPOWERING LIVES

Game for more 28

A ‘belly’ good year

Second home 29

Keppelites Abroad

Navigating Nantong 30

Soaring on a Keppel scholarship 31

Pillars of support 32

NURTURING COMMUNITIES

Seeding high standards of accountability 33

Visions of Pandora

Lending a helping hand 34

Keppel Volunteers

Colouring life 35

BACK PAGE

Keppel expands property portfolio 36

Cover image: The crew from Uniquely Singapore celebrating their homecoming at Marina at Keppel Bay with

Keppelites and the public.

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

Roy Tan

eppel

Editorial Committee

Agnes Wu, Audrea Lee, Ang Lai Lee, Catherine Tan, Cheryl Tang, Chua Ying Ying, Diana Chan, Donald Sng, Elizabeth Widjaja, Eva Ho, Geraldine Lai, Grace Chia, Hoo Yao Lin,

Ivana Chua, Lee Wan Jun, Lee Yin Chiin, Lin Mei Li, Lynette Chong, Lynette Goh, Mak Chui Ling, Marianne Goh, Mohamed Yusof Mohamed, Raymond Chao, Say Huan Yuan,

Serena Toh, Teri Liew, Wong Chai Yueh, Woon Pek Yong, Vett Ramos

Keppelite I January 2010

CO REG NO: 196800351N


Editorial

Journey towards sustainability

For almost three weeks in December, the world’s

attention was riveted on Copenhagen, the venue

of the 2009 United Nations Climate Change

Conference.

Many world leaders arrived in Copenhagen with

the intent to bridge the divide between developing

and developed nations as well as amongst larger

developing nations.

The result is the Copenhagen Accord. The Accord’s

key outcomes include a long-term global goal to

limit temperature increases to less than 2 degrees

Celsius above pre-industrial levels, the

establishment of a process for countries to publicly

indicate their emission reduction commitments as

well as actions and pledges to provide new funding

to developing countries.

However, the fact that the Accord is non-binding

and the absence of concrete targets and actions

to curb carbon emissions have led many to label it

a failure. A binding international agreement

leading to tangible outcomes looks likely to take

years to achieve.

Yet, Copenhagen has achieved something

significant: it etched in the world’s consciousness

the need for responsible sustainable behavior in

all our activities.

We do not need to wait for governments to reach

an agreement for companies as well as individuals

to take action.

In the Keppel Group, there are already several

ongoing initiatives and efforts – some in place for

several years - to reduce the environmental impact

of our businesses as well as to ensure positive

impact on the communities wherever we operate.

To instill a safety first mindset, $17.5 million was

invested in 2008 in programmes and initiatives to

ensure that Keppel’s yards, offices and plants are

safe for all stakeholders.

Our waste-to-energy and water treatment

technology and solutions help both national and

local governments optimise utilisation of limited

natural resources. Green champions across the

Group are trained to share knowledge and ideas

in caring for the environment.

From 2007 to 2009, Keppel worked with

government agencies to launch Singapore’s first

coral nursery, which will enhance biodiversity.

Beyond monetary support, Keppelites have

committed their time as well as conducted

volunteer dives to care for the coral fragments.

We have also partnered the National Arts Council

to present Keppel Nights, Singapore’s first

sustained ticket subsidy scheme to help make the

arts more accessible and affordable.

The Keppel Volunteers programme harnesses the

Group’s diverse resources, skills and talents for a

network of dedicated volunteers in service to the

community.

These are just a few examples of how Keppel has

been putting into action its strategic thrusts of

Sustaining Growth, Empowering Lives and

Nurturing Communities.

To better coordinate all these initiatives and efforts,

Keppel has also begun building a Group-wide

corporate social responsibility framework. This will

allow us to better strategise and implement even

more effective programmes to benefit our

stakeholders and reinforce the long-term

sustainability of our businesses.

As a famous Chinese adage goes, “A journey of a

thousand miles begins with a single step.”

Keppel will continue to hit the road with nimble

feet.

Our property developments are consistently

recognised for their high green building standards.

Keppelite I January 2010


4 Sustaining Growth Growth

Expanding horizons in Vietnam

One of Vietnam’s pioneer

and leading foreign property

developers, Keppel Land

has a portfolio of quality

properties in Ho Chi Minh

City (HCMC), Hanoi, Dong

Nai and Vung Tau and more

than 20,000 homes in the

pipeline.

Leveraging its experience

and expertise in developing

iconic waterfront properties

in Singapore and the region,

Keppel Land made an

auspicious start to the new

year with two joint venture

(JV) projects to expand its

waterfront property portfolio

in Vietnam.

WATERFRONT VILLA SITE

Witnessed by Singapore’s

Prime Minister Lee Hsien

Loong and Vietnam’s Prime

Minister Nguyen Tan Dung in

a ceremony held in Hanoi on

12 January 2010, a JV

agreement for an 11-ha

waterfront residential site

was signed by Mr Kevin

Wong, Group CEO of Keppel

Land and Mr Nguyen Thanh

Lap, Chairman of Tien

Phuoc.

The site is expected to yield

175 villas fronting the

Saigon River in HCMC when

completed.

Mr Kevin Wong said, “As a

pioneer foreign developer in

Vietnam, Keppel Land has

introduced and set standards

in sustainable developments

Mr Kevin Wong, Group CEO of Keppel Land (third from left) and Mr Nguyen Thanh Lap, Chairman of Tien Phuoc, signed a JV agreement for an

11-ha waterfront residential site

with desirable live-work-andplay

environments. We

target to achieve a minimum

of Singapore’s Building and

Construction Authority’s

Green Mark Gold Standard

in our developments.

“The acquisition will leverage

on the strengths of the

partnership and present an

excellent opportunity for

Keppel Land to further

enhance our reputation as a

choice developer of high-end

landed homes in Vietnam.”

Upon the issuance of

investment certificate and

relevant government

approvals, KLL Strategic

Holdings, a wholly-owned

subsidiary of Keppel Land,

will take up a 60% stake

amounting to US$16.2

million (approximately

$22.7 million) of the total

registered capital of

US$27 million (approximately

$37.8 million) in the JV

company while Tien Phuoc

will subscribe for the

remaining interest.

The villa development is also

Keppel Land’s third landed

waterfront property in

HCMC. The first, Villa Riviera,

located in District 2, saw all

101 units sold within a year

of its launch in 2006.

THIRD TOWNSHIP SITE IN

HCMC

The second JV project is a

waterfront residential

township site in District 2

which was secured in

exchange for the

construction of social

housing in a pioneer

government-led initiative.

Keppel Land will develop the

site together with Tien Phuoc

and another local developer,

Tran Thai.

For this pilot programme,

which will be developed in

phases, the developer will

build and transfer a social

housing project of about

1,800 apartments to the city.

In return, HCMC will assign

a 30-ha cleared site to the

developer, zoned for

waterfront development.

The prime cleared site,

located at South Rach Chiec

in District 2, is Keppel Land’s

third township in Vietnam.

It is also the second

collaboration between

Keppel Land and Tien Phuoc,

the first being The Estella, a

1,393-unit condominium

development also in District 2.

Keppelite I January 2010


Sustaining Growth 5

Keppel Land was able to

leverage its reputation in

Vietnam and its strong

relationships with local

authorities and strategic

partners to secure another

large site to meet demand

for its homes and build up its

quality portfolio.

The acquisition will leverage on the strengths of the

partnership and present an excellent opportunity for

Keppel Land to further enhance our reputation as a

choice developer of high-end landed homes in Vietnam.

Mr Kevin Wong

Group CEO, Keppel Land

“There is a growing middleclass

who have become more

discerning in their choice of

residences and where they

set up their businesses. Our

new township will allow us

to tap on our experience to

masterplan and develop a

desirable live-work-and-play

environment and lifestyle for

our residents,” said Mr Ang

Wee Gee, ED and CEO

(International), Keppel Land

International.

Flemmington Investments’

42% stake in the project

amounts to US$16 million

(approximately $22.3 million)

of the total registered capital

of US$38 million

(approximately $53.2

million), while local partners

Tien Phuoc and Tran Thai

hold the remaining 38% and

20% respectively.

The waterfront township will

comprise about 4,700 homes

with a potential gross floor

area of about 1 million sm.

The first phase of the

development is expected to

be launched in 2011. keppelite

Keppel Land’s residential developments in Ho Chi Minh City, such as Riviera Cove, have been well-received by Vietnamese homebuyers

Keppelite I January 2010


6 Sustaining Growth

Equipping China’s largest WTE plant

China has surpassed America

as the world’s largest

producer of household

garbage, according to the

New York Times.

It was against this backdrop

that Keppel Seghers, the

environmental engineering

arm of Keppel Integrated

Engineering (KIE), secured

two contracts from repeat

customers to supply wasteto-energy

(WTE) solutions,

totalling US$53 million

(approximately $74.2 million),

in China.

The first contract, awarded

by Shenzhen Energy

Environmental Engineering

Company Ltd, is for the

expansion of an existing

WTE plant in Shenzhen,

Guangdong. When

completed in 2011, the WTE

plant will be the largest in

China with an eventual

capacity to treat 4,200

tonnes of municipal waste

per day.

Keppel Seghers’ technology

will enable the facility to treat

an additional 3,000 tonnes

to the existing 1,200 tonnes

of municipal waste per day.

The existing WTE plant’s key

components were also

provided by Keppel Seghers

in 1999, when it was built.

Back then, the plant was also

the largest WTE plant in

China.

Mr Michael Chia, Deputy

Chairman and CEO of KIE,

said, “We are honoured

to mark our 10 years of

collaboration with Shenzhen

Energy with this landmark

project.”

Besides the contract,

a Memorandum of

A toast to 10 years of collaboration – (from left) Mr Gao Zimin, Chairman of Shenzhen Energy Group, Mr Teo Soon Hoe, Senior ED and Group Finance Director, Keppel Corporation, Mr Goh Toh

Sim, Chief Representative for China, Keppel Corporation, Mr Li Songtao, Chairman of Shenzhen Energy Environmental Engineering and Mr Michael Chia, Deputy Chairman and CEO of KIE

Keppelite I January 2010


Sustaining Growth 7

Understanding (MOU) was

signed between Keppel

Corporation and Shenzhen

Energy Group to explore

areas of strategic

partnerships related to

environmental protection,

including WTE projects.

Both the contract and the

MOU were signed in the

presence of Mr Wang Rong,

Standing Committee

Member of Communist Party

of China (CPC) Guangdong

Provincial Committee,

Deputy Secretary of CPC

Shenzhen Municipal

Committee and Acting

Mayor of Shenzhen.

At the ceremony, Mr Teo Soon

Hoe, Senior ED and Group

Finance Director of Keppel

Corporation, said, “For the

majority of fast developing

countries, waste is a serious

problem. As cities develop,

land becomes scarce.

Consequently, landfills, as the

conventional solution for

waste, become inadequate.”

Noting the advantages of

WTE, Mr Teo mentioned

that not only is it able to

effectively reduce the volume

of waste going to the landfill

by 90%, it also produces

energy in the process.

Furthermore, with the

technology advances,

emissions from WTE facilities

are now able to pass the

most stringent emission

standards.

He elaborated, “In fact,

Keppel Seghers has

implemented WTE solutions

for many urban communities

in Japan, Korea, the Middle

East, America and Europe.

One of the WTE plants in

South Korea, fitted with

Keppel Seghers’ technology,

is situated just 50m away

from a residential apartment.

This is testament that WTE is

a practical and green solution

that forms a vital part of the

answer to the challenges of

urban waste management.”

The second contract,

awarded by China Energy

Conservation Investment

Corporation (CECIC), is for

the supply of technology for

the furnace, boiler and flue

gas cleaning components for

a WTE plant in Chengdu.

When completed in 2011,

the plant will be able to treat

1,800 tonnes of municipal

waste per day.

Mr Michael Chia added,

“The two contracts from

repeat customers affirm the

quality and reliability of our

WTE technology as an

effective solution to waste

management. The strength

of our WTE technology will

enable Keppel to gain further

traction in the WTE market

in China and the rest of the

world.”

KIE is currently the market

leader for imported WTE

solutions in China, with 60%

of the market share.

Last year, Keppel Seghers

secured two WTE technology

projects in China. In July

2009, Keppel Seghers

secured an £11 million

(approximately $22.3 million)

contract from Tianjin Binhai

Environmental Industry

Development Ltd to provide

technology to a WTE plant in

Hangu, Tianjin.

In March 2009, Keppel

Seghers was also awarded a

$30 million contract by

Riseland Holdings, a

subsidiary of Everbright

International, to provide

technology to a WTE plant in

Jinan, Shandong. keppelite

The two contracts from repeat customers affirm the quality and reliability of

our WTE technology as an effective solution to waste management. The

strength of our WTE technology will enable Keppel to gain further traction

in the WTE market in China and the rest of the world.

Mr Michael Chia

Deputy Chairman and CEO, KIE

Keppelite I January 2010


8 Sustaining Growth

Early start to 2010

Keppel FELS delivers first rig of the year ahead of schedule and within budget.

After wrapping up a record

year of 13 rig deliveries in

2009 – all of them delivered

on time and within budget –

Keppel FELS kicked off 2010

with an early delivery in

January.

Keppel FELS delivered

ENSCO 8502, the third of

seven ENSCO 8500 Series ®

semisubmersible (semi)

drilling rigs it has been

contracted to build

exclusively for Ensco

International (Ensco), seven

days ahead of schedule.

The rig is on track to

commence operations in

the US Gulf of Mexico in the

second quarter of 2010,

under a two-year contract

with Nexen Petroleum U.S.A.

Inc. with term extension

options.

The early completion was a

culmination of progressive

productivity gains achieved

by Keppel FELS on the

construction of the Series.

Construction lead time for

ENSCO 8502 was reduced by

1.1 million man-hours, as

compared to the first rig in

the Series. This represents a

15% boost in efficiency.

Mr Dan Rabun, Chairman,

President & CEO of Ensco,

said, “We are pleased that

Keppel has remained an

outstanding long-term

supporter of Ensco’s

deepwater strategy. We

commend the shipyard and

management teams for

managing the project

schedule and resources

very well even through

challenging times, resulting

in an early and within budget

delivery.

“With each consecutive rig,

we have seen continuous

improvement in the

construction progress,

reaffirming our decision to

build the entire seven-rig

series with a single yard to

realise efficiencies and

economies of scale. We are

further convinced that

Keppel FELS is the right

choice as our trusted

shipyard partner.”

Mr Tong Chong Heong, CEO

of Keppel FELS, said, “Keppel

has supported and moved

closely in step with our

customers as the offshore

market’s needs evolved over

the years.

“In particular, we take

pride in delivering to our

customers, not only on time

and within budget, but also

quality products that are

ready to be deployed for

operations, smoothly and

safely. We are confident that,

like her sister rigs, ENSCO

8502 will be ready to drill on

location shortly after she

arrives in the Gulf of

Mexico.” keppelite

ENSCO 8502 was delivered seven days ahead of schedule as a result of the progressive productivity gains achieved by Keppel FELS on the

construction of Ensco’s seven-rig series

Keppelite I January 2010


Sustaining Growth 9

Honouring a great ship

Greatship Maya is the first state-of-the-art vessel that Keppel Singmarine is

building for Greatship and customising geotechnical services for GC Rieber.

Keppel Singmarine has

delivered a platform supply

geotechnical vessel on

schedule to Greatship Global

Offshore Services Pte. Ltd

(Greatship).

Named on 23 January 2010,

the vessel has been bareboat

chartered to GC Rieber

Shipping Asia Pte Ltd (GC

Rieber). The vessel will be

deployed by GC Rieber and

partner company Bluestone

Offshore Pte Ltd in Australia

in the first quarter of 2010.

Unlike standard platform

supply vessels, the vessel is a

Igniting brilliant beginnings for Greatship

Maya – Lady Sponsor Mrs Hege Tiller

multi-functional enhanced

offshore support vessel

equipped with drilling unit,

which is capable of operating

at water depths of up to

1,800 metres. She is also able

to perform real-time in-situ

tests from downhole or

seabed mode as well

as various geotechnical

laboratory tests onboard.

The 94-metre long vessel is

equipped with two units of

electrical driven 2600KW

Azimuth thrusters and three

units of 1050KW tunnel

thrusters to achieve a

Dynamic Positioning II

capability. It has a moon pool

and 1,000 sm of clear deck

space for the installation of

drilling derrick, line tensioner

winches, mud pumps,

hydraulic unit and various

specialised containers for

performing geotechnical

services.

She was named by Lady

Sponsor, Mrs Hege Tiller,

spouse of Mr Finn Atle

Hamre, Managing Director of

GC Rieber Shipping Asia Pte

Ltd.

Mr Hoe Eng Hock, ED of

Keppel Singmarine, said,

“We have worked hand-inhand

with Greatship over the

last two years to deliver this

fine vessel. Her successful

completion reinforces Keppel

Singmarine’s ability and

Greatship Maya is a multi-functional enhanced offshore support vessel

commitment to provide

reliable and versatile solutions

in meeting the needs of all

offshore environments.

“With a proven track

record and expertise in the

design and construction of

specialised ships, we are wellpoised

to support Greatship

in growing its modern fleet

of sophisticated vessels.”

Greatship Maya is one of the

few OSVs in the world to be

certified as Special Purpose

Ship under the IMO SPS

Code 2008 to meet stringent

standard for safety and

stability for vessels carrying

more than 12 special project

personnel.

Mr Venkatraman

Sheshashayee, ED of

Greatship, said, “We are very

proud of the outstanding

quality and capability of

Greatship Maya, which has

reinforced our decision to

work with a world-class

shipbuilder such as Keppel

Singmarine.

“As we look forward to the

rest of our vessels this

year, we are confident that

they will perform to our

customers’ expectations and

distinguish Greatship as a

choice provider of innovative

and versatile solutions for the

offshore industry.” keppelite

Keppelite I January 2010


10 Sustaining Growth

Steady improvement in performance

For the full year 2009, K-REIT

Asia’s distributable income

of $70.5 million is 21.1%

higher than that for the same

period in 2008. This was due

mainly to higher rental rates

achieved for new and

renewed leases and income

contribution from K-REIT

Asia’s one-third interest in

One Raffles Quay Pte Ltd.

4Q 2009 FY 2009 FY 2008 + / (-)

$’000 $’000 $’000 %

Property Income 17,015 62,811 52,646 19.3

Net Property Income 13,441 48,880 39,659 23.3

Net Income 7,031 27,616 19,289 43.2

Distributable Income to Unitholders 19,400 70,519 58,182 21.2

Distribution Per Unit (cents)

For the Period 1.45 5.28 4.41 (19.7)

Annualised 5.75 5.28 4.41 (19.7)

Net property income rose

23.2% year-on-year to

$48.9 million in 2009, due

mainly to positive rental

reversions and contribution

from the additional six strata

floors of Prudential Tower.

The average gross monthly

rent of K-REIT Asia’s portfolio

was 7.2% higher at $8.16

psf in December 2009

compared with $7.61 psf in

December 2008.

Distribution per unit (DPU)

for 2009 was 5.28 cents

compared with 4.41 cents in

2008, which has been

restated to take into account

the effect of the one-for-one

rights issue and enlarged

unit base of approximately

1.3 billion units.

K-REIT Asia CEO and FC, Ms Ng Hsueh Ling (left) and Ms Evelyn Tong respectively, briefed

media and analysts on the company’s performance and key milestones achieved in 2009

Restated taking into account the effect of the underwritten, renounceable 1-for-1 rights issue to raise gross proceeds of S$620 million at an

issue price of $0.93 per rights unit and computed based on the issued units at the end of each period aggregated with 666,703,965 units

which were issued on 22 November 2009

For the period from 1 July to

31 December 2009, K-REIT

Asia will pay out 2.77 cents

per unit on 25 February 2010

based on 100% of its

taxable income available for

distribution to Unitholders.

This will bring the total DPU

pay-out to 7.76 cents for the

period from 1 January to

31 December 2009.

RIGHTS ISSUE

COMPLETION

In November 2009, K-REIT

Asia successfully completed

a one-for-one rights issue

at $0.93 per unit and

raised gross proceeds of

approximately $620 million.

The rights issue has provided

the company with additional

funding capacity to pursue

acquisition growth.

Some $99.7 million of the

rights proceeds was used to

repay a bridging loan facility

for the purpose of financing

the acquisition of the six

strata floors of Prudential

Tower. After the repayment,

K-REIT Asia’s aggregate

leverage was 27.7% as at

end-December 2009.

SEEKING ACQUISITION

AND GROWTH

OPPORTUNITIES

K-REIT Asia is well-positioned

to capitalise on the recovery

of Singapore’s economy with

its high-quality asset

portfolio, strong tenancy

profile and diverse tenant

business mix. The weighted

average lease term for its

portfolio is 5.2 years while

that of its top 10 tenants is

6.7 years, providing income

stability for Unitholders.

The acquisition of additional

six strata floors of Prudential

Tower in November 2009

marked K-REIT Asia’s first

third-party acquisition. The

purchase has raised its stake

Keppelite I January 2010


Sustaining Growth 11

from 44.4% to a majority

control of 73.4% of the total

strata area, which will put

K-REIT Asia in a stronger

position to manage the

income generated from this

asset.

As at end-2009, K-REIT Asia’s

portfolio net lettable area was

1.3 million sf and portfolio

size was $2.1 billion. On an

average psf basis, portfolio

valuation has fallen by 5.3%

to $1,616 psf from a year

ago, which is at the lower end

of market valuation for prime

office space.

With enhanced financial

flexibility from the rights

issue, K-REIT Asia intends to

pursue opportunities for

strategic acquisitions in

Singapore and other Asian

growth cities. It will continue

to identify potential asset

enhancement initiatives for

its property portfolio to

maximise rental income,

and to place emphasis on

attracting creditworthy new

tenants, retaining good

existing tenants and

improving operational and

cost efficiencies. keppelite

Full year results for

Keppel Corporation

and Keppel Land will

be reported in the

February issue with

their releases in late

January.

Keppel T&T seeks

growth opportunities

Keppel Telecommunications

& Transportation (Keppel

T&T) group revenue

decreased 12% in 2009 to

$113.3 million due mainly to

lower logistics revenue in

Singapore and the winding

down of the network

engineering business.

Nonetheless, revenue from

logistics activities in China

continued to show healthy

improvements. The group

has further expanded its data

centre business.

Profit before tax and

exceptional items was

$65.3 million due to lower

operating profit. However,

share of contributions

from associated companies

improved 4% to

$58.5 million. Group profit

after tax was 13% lower at

$47.7 million due to

impairment in value of

investments and provision

for restructuring costs.

The Directors are pleased to

recommend a first and final

dividend of 3.0 cents per

share tax exempt (one-tier)

for 2009 subject to approval

by shareholders at the

next Annual General

Meeting to be convened in

April 2010.

PROSPECTS

Logistics operations are

expected to benefit from

the improved economic

outlook. In Singapore,

Keppel T&T will redevelop

its logistics assets to

maximise returns. The group

currently enjoys a strong

position in Foshan and

looks to expand its

Logistics activities in China continued to show healthy improvements

warehouse and distribution

business in the region. In

addition, it is looking to

deepen its logistics

operations in Vietnam.

The group’s data centre in

Singapore has commenced

operations and currently

serves a number of blue-chip

customers. The Citadel100

data centre in Ireland

continues to enjoy full

occupancy, while demand for

data centres continues to

hold up well. keppelite

Keppelite I January 2010


12 Sustaining Growth

Tianjin Eco-City to pilot

eco-manufacturing base

Senior management from SSTEC and guests from Keppel Corporation and the Tianjin authorities marking the groundbreaking of Tianjin Eco-City’s Eco-Industrial Park

On 30 December 2009, the

Sino-Singapore Tianjin Eco-

City (Tianjin Eco-City) took

another leap forward in its

development as it began

construction on the 130-ha

Eco-Industrial Park (EIP),

which will cost about

RMB 4 billion to develop and

can draw in RMB 4 billion

worth of investments and

about 10,000 jobs when

completed.

Located in the northern

region of the Eco-City, next

to major highways leading to

Tianjin’s city centre, port and

airport, as well as Beijing, the

EIP will be the first of its kind

in China, serving as the

premier eco-manufacturing

base for the Bohai Rim area.

The EIP’s groundbreaking

ceremony was graced by

Mr He Lifeng, Deputy

Secretary of the Communist

Party of China Tianjin

Municipal Committee and

Chairman of Sino-Singapore

Tianjin Eco-City Investment

and Development Co., Ltd.

(SSTEC), Dr Lee Boon Yang,

Chairman of Keppel

Corporation, and guests

from the Tianjin Binhai New

Area (TBNA) Administrative

Committee, Eco-City

Administrative Committee

and Tianjin Eco-City

Investment and Development

Co., Ltd.

The EIP will be home to light,

clean industries involved in

waste management, green

buildings and transport,

potable water and hygienic

environment. Using the

Eco-City as a base, these

industries can tap the

growing eco-business

opportunities in the fast

growing TBNA and northern

China.

“The EIP will serve China’s

rapidly growing need

for clean technologies

production bases. We expect

the EIP to become a major

hub for eco-manufacturing

corporations that radiates

out to the Bohai Bay region.

More importantly, it can

serve as a model of how

industries can also be

developed in an eco-friendly

and sustainable way,” said

Mr Goh Chye Boon, CEO of

SSTEC.

To kickstart the development,

SSTEC will commence

construction of more than

220,000 sm of ready-built

factories on a 15-ha land plot

starting from 2Q 2010. This

move aims to satisfy the

strong demand from local

and foreign investors

interested in setting up

manufacturing facilities to

serve the Tianjin Eco-City,

TBNA and northern China

markets.

The EIP will be built

according to the Eco-City’s

Green Building Evaluation

Standard, which draws the

best from China’s Green Star

standards and Singapore’s

Green Mark standards.

Putting green building

concepts into practice, the

construction of EIP will adopt

eco-friendly strategies such

as optimisation of building

layout, utilisation of

renewable energy and

suitable building materials,

recycling of water and waste,

provision of green spaces

and environmentally-friendly

construction methods. keppelite

Keppelite I January 2010


Sustaining Growth 13

Delivering hardy vessels

Keppel Singmarine and its

sister yard Keppel Nantong

demonstrated their

commitment to meet the

needs of customers with the

timely and safe deliveries of

an Anchor Handling Tug

Supply (AHTS) vessel and

two tugboats.

On 1 January 2010,

Keppel Singmarine delivered

Hadi 27, an AHTS to Hadi H.

Al-Hamman Establishment

(Hadi). The 80-tonne bollard

pull vessel is equipped with

dynamic positioning system

and Azimuth thrusters to

enhance its position keeping

and maneuverability as she

performs various supply and

support functions for the

offshore installation and

floating units.

Mr Hoe Eng Hock, ED of

Keppel Singmarine, said,

“Hadi 27 has exceeded its

contractual bollard pull and

speed during its sea trial

performance conducted in

December 2009. We are also

proud to announce that our

projects and construction

with Hadi have been on time

and with zero lost-time

incidents.”

contracting, trading and

marine service providers

to the oil & gas and

petrochemical industries in

the Middle East with its

headquarters in Saudi

Arabia.

Over in China, Keppel

Nantong has also delivered

two 65-tonne bollard pull

twin-screw Azimuth Stern

Drive tugboats to Keppel

Smit Towage.

Both KST 54 and KST 55 are

of the proprietary MTD

3265ST design developed by

Keppel Singmarine’s

technology unit, Marine

Technology Development.

Both vessels also exceeded

the contractual bollard pull

and designed speed during

its sea trial performance.

Keppel Smit Towage is a joint

venture between Keppel and

Smit International Singapore.

The company operates a

complete spectrum of

towage. keppelite

KST 55 is of the proprietary MTD 3265ST design developed by Keppel Singmarine’s

technology unit, Marine Technology Development

Hadi 27 is currently operating

in Saudi Arabia. Since

2002, Hadi has awarded

Keppel Singmarine a total of

12 AHTS orders. Hadi is

one of the leading general

Delivered on time by Keppel Singmarine, Hadi 27 is currently operating in Saudi Arabia

Keppelite I January 2010


14 Sustaining Growth

Safety all the way

Safety never takes a day off at Keppel Offshore & Marine’s yards. Backed by a

strong safety culture shared by its workforce, customers, vendors and suppliers,

Keppel FELS and Keppel Shipyard recently celebrated safety milestones on its

projects.

BW Pioneer on its way to the US Gulf of Mexico, where it will be the first FPSO deployed there

DELIVERING ON SAFETY

With good safety

records, BW Pioneer and

Four Rainbow, two Floating

Production Storage and

Offloading (FPSO) vessels

have left Keppel Shipyard

for deployment in their

respective fields.

BW Pioneer, which achieved

over five million man-hours

worked without lost-time

incidents (LTI), left the yard

on 8 January this year.

As it was the world’s first

FPSO to be deployed and

operate in the US Gulf of

Mexico (GoM), the project

team had to overcome the

challenge of meeting the

requirements of the US

Coast Guard and Minerals

Management Service.

Senior Project Manager,

Mr Jamil bin Abdul Ghani,

said, “Safety and work went

hand in hand on this project,

as endorsed by the project

teams of Keppel and

BW Offshore. We ensured

that all safety processes were

in place and everyone on the

project was aligned to the

safety standards.

“It required good teamwork,

continuous vigilance,

perseverance and strict

observance of the yard’s

‘Safety Starts with Me’ and

‘Together We Care’ slogans.

The time and effort spent in

creating a safe and healthy

work environment has been

worth it.”

In celebration of its

safety achievements, the

project team comprising

BW Offshore, Keppel Shipyard

and contractors donated

close to $9,000 to charity.

At the one millionth and

four millionth man-hours

achieved without LTI

milestones, about $4,500

and $4,400 were donated

to the Children’s Cancer

Foundation and the

Sumatra Quake Relief Fund

respectively.

Leased by Petrobras America

Inc. to operate in the

Cascade and Chinook fields

of the US GoM, FPSO

BW Pioneer will be turret

moored at a water depth of

about 2,600m – by far the

deepest for an FPSO.

FPSO Four Rainbow left

Keppel Shipyard for the

Woollybutt field in Western

Australia on 31 December

2009 after completing its

refurbishment and life

extension works with almost

half a million man-hours

without LTI.

Mr Foo Kim Suan, Senior

Project Manager, shared,

“This record was

accomplished due to

Keppelite I January 2010


Sustaining Growth 15

teamwork and vigilance of

everyone involved. As it was

a fast-track project, one of

our challenges was to ensure

all work processes were

carried out safely even

though the schedule was

tight.”

Work on the vessel included

blasting and coating of cargo

tanks and water ballasting

tanks, installing a new gas

lift compression module

and desander skids, as

well as upgrading of the

accommodation.

JACKING UP SAFETY

STANDARDS

Having just celebrated the

early delivery of the sixth of

seven KFELS semisubmersible

drilling tenders to Seadrill in

December 2009, Keppel FELS

and its customer had good

reason to commemorate

another milestone recently.

construction of each of the

KFELS B Class jackup rigs,

West Callisto and West Juno,

on 14 January 2010.”

To commemorate the

safety milestones, Seadrill

presented a bonus of

S$10,000 to Keppel FELS on

14 January 2010.

Keppel FELS has constructed

four of Seadrill’s world-class

jackups. Construction of the

seventh SSDT and the two

jackups remains on schedule

with expected deliveries

extending from 2Q 2010

into 2Q 2011. When

completed, Keppel-built

rigs will make up 35% of

Seadrill’s premium fleet.

BULLY SAFE AND SOUND

The twin Bully drillships at

Keppel Shipyard celebrated

significant safety milestones

on 8 January 2010.

while Bully II clocked over

one million man-hours

worked without LTI. Both

vessels have zero reportable

incidents since the project

started.

With work on the drillships

being done simultaneously, it

is twice the challenge for the

project management team to

ensure that safety vigilance

is kept up on both projects.

Besides the manpower

involved, installing Huisman’s

muilti-purpose tower (MPT),

the world first enclosed steel

structural drilling tower

which weighs about 950

tonnes, involved precise

planning between the

clients, vendors and Keppel

Shipyard.

Senior Project Manager

Low Kok Chiang said, “Both

the floating cranes, Asian

Hercules and Asian Hercules

II, were utilised to lift and

install the MPT onboard the

drillship. Scheduling day and

night shifts, we were

constantly trying to make

sure everyone was alert

and vigilant at all times.

Teamwork and coordination

were vital to ensuring the

operation was carried out

smoothly and safely.” keppelite

“The longstanding partners

celebrated one million safe

manhours achieved on the

Bully I achieved zero lost-time

incidents (LTI) after three

million man-hours worked

Safety rewards – Mr Jerry Dokos, Project Manager, Seadrill shares his endorsement at the

safety bonus presentation as Mr Bryan Toh, Project Manager, Keppel FELS, looks on

Commemorating the safety milestones of the Bully drillships are (left) Mr David Smallwood,

Project Manager of Frontier Bully Projects and Mr Spencer Leong, GM of Keppel Shipyard

(Gul)

Keppelite I January 2010


16 Sustaining Growth

Keeping pace

Driven by a commitment to

operational excellence,

projects at Keppel FELS

remain on track, achieving

several milestones in recent

months.

Mr Wong Kok Seng, ED of

Keppel FELS said, “We

were able to deliver by

consistently striving for

operational excellence and

innovation, backed by strong

project management and

close partnerships with

our unions, customers,

contractors and vendors.

“For 2010, we will remain

focused on execution

excellence and further

improving efficiency to

deliver superior solutions and

services safely, on time, and

within budget, while

pursuing more projects.”

KFELS N CLASS JACKUP

Shortly after the celebration

of one million manhours

without lost time incident on

the construction of SKDP 3

in November 2009, the

teams from Skeie Drilling

& Production (Skeie)

and Keppel FELS cheered

to yet another milestone

achievement.

On 18 December 2009,

the keel was laid for the

last of the trio of KFELS N

Class jackup drilling rigs

being built by Keppel FELS

for Skeie. Construction of all

Teamwork thrives – Mr Chia Chuan Beng, Senior Project Manager, Keppel FELS and Mr Mark Aitken, Site Manager for SKDP, show solidarity in

keeping construction safe, on time and within budget

three rigs continues to be

on track.

The trio are the world’s

first jackups to be designed

and constructed to suit

operations in the Norwegian

Continental Shelf.

KFELS SSDT TM

Following the finalisation

of the contract to

build Vietnam’s first

semisubmersible drilling

tender for PetroVietnam

Drilling and Well Services

Corporation, Keppel FELS

has struck first steel for the

rig on 22 January 2010.

Targeted for delivery in the

fourth quarter of 2011, this

tender assist rig will be built

to Keppel’s award-winning

KFELS SSDT TM 3600E design.

Steely beginnings – Mr Nguyen Quynh Lam, CEO of Bien Dong Production & Operating

Company, activates the cutting of the first steel for the KFELS SSDT while Mr Tong Chong

Heong, CEO of Keppel Offshore & Marine, looks on

keppelite

Keppelite I January 2010


Special Focus 17

Homecoming for

Uniquely Singapore

The atmosphere at Keppel Bay was nothing short of electric at the homecoming

of Uniquely Singapore and welcome of the Clipper Race fleet. As the fleet sailed

into Marina at Keppel Bay, joyful cheers from about 1,000 spectators including

family, friends and fans of the international crew were accompanied by the

pulsating beat of 41 drummers in a spectacular ceremony held on Saturday,

23 January 2010.

Continues on page 18...

Keppelite I January 2010


18 Special Focus

...continued from page 17.

WAVES OF CELEBRATION

AT KEPPEL BAY

Singapore has always been

regarded as one of the best

stopovers in the Clipper

Race, so much so that even

past Uniquely Singapore

crew members from the

Clipper 05/06 and 07/08

Races specially made the trip

to town to join in the

celebrations at Keppel Bay.

The journey to Singapore for

the Clipper Race fleet from

Geraldton, Western Australia

has not been without its

thrills and spills, especially for

the Irish entry Cork which ran

into a submerged reef off

Indonesia and had to be lost

to the sea. Fortunately, all the

crew members were safe.

The California clipper, had

engine troubles the day

before the celebrations and

had to be towed into Keppel

Bay from Nongsa Point

Marina & Resort for the

festivities. Despite it all, spirits

were high and all joined in

the revelry.

A rousing welcome for the Clipper Race fleet at Keppel Bay by Dr Lee Boon Yang, Chairman of Keppel Corporation. Looking on are (from left)

Ms Aw Kah Peng, Chief Executive, Singapore Tourism Board; Mr Teo Soon Hoe, Senior Executive Director & Group Finance Director, Keppel

Corporation; Mr Choo Chiau Beng, CEO, Keppel Corporation; Sir Robin Knox-Johnston, Chairman, Clipper Ventures Plc and Mr Kevin Wong,

Group CEO, Keppel Land

The Uniquely Sing

In his welcome speech,

Dr Lee Boon Yang, Chairman

of Keppel Corporation, said,

“With the slew of exciting

waterfront developments

and activities at Keppel Bay,

HarbourFront and Sentosa,

we expect more international

yachtsmen and boaters to be

drawn to Singapore. This is

where Marina at Keppel Bay,

with its premium berths,

RYA-accredited sailing

academy and variety of

services and facilities, will

play its part to promote

Continues on page 20...

The jubilant crew from Cape Breton Island who won the Uniquely Singapore cup sponsored by Keppel Corporation

Karan Teo! Well done and welcome home Keppel Ambassador

Sail for a cause – K

Clipper training an

The energy at Keppel Ba

cannons and confetti – t

themselves. We’ve taken

world. We’ve got a lot o

together and respected

global mindset – it’s a gl

Mr Jim Dobie

Skipper of Uniquely Singapore

Keppelite I January 2010


19

apore team cheered on by residents of Caribbean at Keppel Bay

The ‘world’ sails into one great location at Keppel Bay

eppel Ambassador Adrian Tan sets up booth at the Marina to sell postcards of photographs he took during the

d those of Keppel Bay to raise funds in aid of children’s charities

y was awesome with the drum beats, water

he people at Keppel have really outdone

the Keppel ‘Can-Do!’ attitude around the

f nationalities on board – people have just got

each other’s culture. Yes, we definitely have a

obal boat!

Jim Dobie, skipper of Uniquely Singapore, receives a token from Chairman Dr Lee Boon Yang

of Keppel Corporation

Keppelite I January 2010


20 Special Focus

...continued from page 19.

Singapore’s attractiveness as

a leading destination and

sailing hub in Asia.

“We share the vision with

Singapore Tourism Board to

showcase the Uniquely

Singapore brand to the world

and to promote Singapore as

a ‘must visit’ global city.”

Chairman Dr Lee attended

the Ceremony accompanied

by Mr Choo Chiau Beng,

CEO of Keppel Corporation

and other distinguished

guests which included

ambassadors.

The Chairman also presented

the Uniquely Singapore Cup,

sponsored by Keppel, to

Cape Breton Island which

crossed the finish line in the

Singapore Straits at 0914

local time on Sunday, 17

January 2010. It beat Spirit

of Australia by just 15

minutes while Jamaica

Lightning Bolt was third to

cross the line.

Sir Robin Knox-Johnston,

founder and Chairman of

Clipper Ventures, who was

also at the celebrations, said,

“This is the third time that

there has been a Uniquely

Singapore entry in the

Clipper Race and each time,

the arrival ceremony is more

staggering.”

Coming in 7 th position in the

race from Geraldton, the

spirits of the Uniquely

Singapore crew were far

from dampened.

Keppel Ambassador Karan

Teo, who was racing on the

homecoming leg, was elated

to be among family and

friends. On her Uniquely

Singapore experience, she

shared, “The best part of this

experience for me has been

bonding with the crew.

We’ve got a really good crew

and I can’t wait to show

them the sights and be a

good host – both as a

Singaporean and as a Keppel

Ambassador.”

The international crew is

looking forward to a

wonderful stopover, all

ravenous to sample the wide

array of culinary cuisines

Singapore is renowned for.

The colourful Clipper race

fleet will recharge at Keppel

Bay before gunning for one

of the most challenging legs

to Qingdao, China on

2 February 2010. keppelite

Flying the flag high for Singapore and Keppel

Keppelite I January 2010


Sustaining Growth 21

Double win for

Keppel Nantong

Ushering in the new year

on a positive note,

Keppel Nantong Shipyard

(Keppel Nantong) received

two awards from the

Nantong Municipal People’s

Government.

The company was ranked

sixth among Nantong’s Top

10 Export Enterprises for

achieving an export value of

US$129 million from January

to November 2009.

This represented a 231%

increase compared to the

same period in 2008.

Keppel Nantong was given a

cash award of RMB 769,000

(approximately $157,000)

from the city’s government

for its contributions.

It was also lauded for

implementing an excellent

set of safety practices and

policies by the Nantong

Administration of Work

Safety and received a

Safety Excellence Award

on 14 January 2010.

Mr Lee Tai Kwee, President

of Keppel Nantong, said,

“We are greatly

encouraged by the

government’s recognition

of our safety practices, as

well as efforts in

contributing to the export

revenue and employment

growth of Nantong. We

will continue to tap

opportunities and

contribute more to the

development of Nantong’s

marine industry.” keppelite

Keppel’s contributions to Nantong’s growth and safety efforts gain recognition from the

Nantong Municipal People’s Government

Winner of the Best Departmental Website for 2009 Award, the International Projects’ website

excelled in content, knowledge management and sharing capabilities

Leveraging

cyberspace

With the aim to enhance

communication and

efficiency, Keppel Land is

looking into space, more

precisely, cyberspace. The

company recently concluded

its first ever Best

Departmental Website

competition.

Spanning two months, the

competition was organised

to encourage all

departments to adopt and

promulgate innovative usage

of K2Portal, a web-based

knowledge sharing platform,

for their operational needs.

During the awards ceremony

in December, Mr Kevin Chua,

Head of Keppel Land IT,

shared, “While spurring on

optimal usage of the

portal, it is also timely to

recognise the efforts of

the departments that

have leveraged the K2

Portal to collaborate and

share information for

the company’s collective

knowledge in the last five

years.”

Representing the winning

department, Mr Stephen

Choo, Senior GM of

International Projects, said,

“We created this website

with the intention of making

it an integral component of

our project management

processes and a learning

platform for all our project

staff.”

Ms Eva Ho, Assistant

GM of Group Corporate

Communications, who

was one of the judges,

commented, “I’m very

impressed with the breadth

and depth of information

available on the K2Portal,

which will contribute

effectively towards better

information-sharing within

Keppel Land.” keppelite

Keppelite I January 2010


22 Sustaining Growth

Qatar’s largest yard gears up

for business

The significance of the

largest shiprepair yard in

Qatar, Nakilat-Keppel

Offshore & Marine (Nakilat-

Keppel O&M), received a

boost when Qatar’s Deputy

Prime Minister and Minister

for Energy & Industry, HE

Abdullah bin Hamad

Al-Attiyah visited the yard

on 14 January 2010.

Accompanied by Qatargas

Chairman and CEO, Mr Faisal

Al-Suwaidi and Nakilat’s MD

Mr Muhammad A. Ghannam

(who is also Chairman of

Nakilat-Keppel O&M), he was

given a brief of the yard’s

facilities and progress by

Nakilat’s Director, Facilities

Development, Mr Stephen

May and senior management

from Nakilat-Keppel O&M,

including its CEO, Mr Yong

Chee Min from Keppel

Offshore & Marine (Keppel

O&M).

With development of the yard

going well, HE Abdullah bin

Hamad Al-Attiyah was pleased

to see many Singaporeans

already working in Qatar and

extended his warm welcome.

As they observed the

progress of the fabrication

work on the dock gates and

steelwork facilities, the

Minister and his delegation

gave positive feedback on

their yard visit, having gained

an insight into the work

process.

With progress of the 80/20

joint venture shipyard

between Nakilat and

Keppel O&M on track, Phase

One and Two of the yard is

expected to commence

business operations around

3Q 2010. Located on a

43-ha site at the port of

Ras Laffan, Phase One

and Two of the yard’s

development includes two

graving docks of 350,000 dwt

and 450,000 dwt.

Once fully operational,

Nakilat-Keppel O&M will,

with the support of Keppel

Shipyard’s specialised LNG

tanker repair teams from

Singapore, handle the

drydocking and repairs of

LNG vessels as well as other

commercial vessels in Qatar

and the Middle East market.

At the moment, about 1,000

workers have been recruited

and this will be increased as

the yard’s business volume

picks up. keppelite

HE Abdullah bin Hamad Al-Attiyah (centre), Qatar’s Deputy Prime Minister & Minister for

Energy & Industry learning about the yard’s progress from Mr Yong Chee Min (second from

right), CEO, Nakilat-Keppel O&M

When operational, Nakilat-Keppel O&M will operate in all sectors of the shiprepair industry and will have some 80 drydocking projects a year

Keppelite I January 2010


Sustaining Growth 23

People matters

Planner and Deputy CEO

between 2001 and 2008.

Mrs Koh-Lim Wen Gin

Mrs Koh-Lim Wen Gin was

appointed to Keppel Land’s

Board of Directors with

effect from 20 January

2010.

Mrs Koh, 65, has played

a key role in shaping

Singapore’s cityscape,

through her 34-year

career with the Urban

Redevelopment Authority

(URA). She was URA’s Chief

Mr Choo Chiau Beng,

Chairman of Keppel Land,

said, “Wen Gin’s extensive

experience in urban master

planning and development

will lend strategic counsel

and insights to further

enhance Keppel Land’s

expertise in building

townships and other

large-scale integrated

projects.”

Mrs Koh was involved in a

variety of high quality

landmark developments

which have contributed to

Singapore’s growth as a

global city. For her

achievements, Mrs Koh

was presented the Public

Administration Medal

(Silver) in 1986, the Public

Administration Medal (Gold)

Mr Michael Chia

in 2002 and the Meritorious

Service Medal in 2009.

Mr Michael Chia, Deputy

Chairman of Keppel

Integrated Engineering (KIE),

has replaced Mr Chua Chee

Wui as KIE’s CEO with effect

from 13 January 2010.

Mr Chua has left the Group

to seek new personal and

professional opportunities.

Ms Cindy Lim

Ms Cindy Lim Joo Ling,

Deputy GM of Group Human

Resources (GHR) has been

promoted as GM of GHR

with effect from 1 January

2010. She will also oversee

HR matters in Keppel

Offshore & Marine. keppelite

Marine Fellow

Mr Tong Chong Heong, CEO of Keppel Offshore & Marine receives the IMarEST Fellowship

certificate from Admiral Nigel Guild, IMarEST President-Elect

Becoming a Fellow of

the Institute of Marine

Engineering, Science &

Technology (IMarEST) is

a strong recognition of

Mr Tong Chong Heong’s

long-time standing and

experience as a committed

marine specialist.

Mr Tong, CEO of Keppel

Offshore & Marine, is an

offshore and marine industry

veteran who has served the

Keppel Group for more than

40 years.

He was presented the

Fellowship certificate by

Admiral Nigel Guild, IMarEST

President-Elect and his wife,

Professor Felicity Guild on

20 January 2010, during

their visit to Singapore. keppelite

Keppelite I January 2010


24 Sustaining Growth

Missions accomplished

2009 closed on a pleasing

note for Keppel FELS Brasil’s

BrasFELS yard which

completed two jobs to the

satisfaction of its customers,

Noble Corporation and

Diamond Offshore.

Mr Kwok Kai Choong,

President of Keppel FELS Brasil

shared, “We are glad to have

delivered the projects safely,

on time and within budget,

affirming our customers’

confidence in our yard as the

most comprehensive offshore

and marine facility in Latin

America.”

NOBLE MISSION

Noble Corporation’s

Noble Dave Beard, a

semisubmersible drilling rig,

arrived at BrasFELS in March

2009 for completion and

commissioning work prior to

site deployment.

The work scope included

completion works on

the thrusters’ installation,

architectural work on the

accommodation and work

spaces, piping, electrical,

mechanical and other

painting works, in addition to

commissioning.

BrasFELS has since further

secured three repair and

upgrading jobs for Noble’s

Brazil-based drillships. Work

will commence with the

arrival of the first drillship by

early 2011 and is anticipated

to conclude in the second

half of 2013.

QUEST ACCOMPLISHED

Ocean Quest from

Diamond Offshore arrived

at BrasFELS on 18 November

2009 for structural

repairs to its columns and

other works including

an installation of a

higher capacity drillship

compensator.

With BrasFELS’s good project

management, the repairs

were completed ahead of

schedule, thus enabling the

rig to return to service earlier

than planned.

Mr John Baugus, Project

Manager, Brasdril Sociedade

de Perfuracao LTDA, a

subsidiary of Diamond

Offshore, commended,

“The performance by Team

BrasFELS was excellent. The

entire team, from the

workers on the rig all the way

up to upper management,

combined to meet an

extremely demanding

delivery schedule while

maintaining a commitment

to safety and quality.” keppelite

Noble Dave Beard on its way to BrasFELS in March 2009 for completion works

Ocean Quest returns to work earlier than scheduled as a result of BrasFELS’s strong project

management

Keppelite I January 2010


Sustaining Growth 25

Buoyant milestone for P-56

It was a majestic sight to

behold as two giant

‘C’-shaped blocks were

simultaneously floated and

undocked safely and

successfully into the emerald

waters of the Bay of the

Kings in Angra dos Reis,

Brazil, on 29 December

2009.

With that, Keppel’s BrasFELS

yard, one of the largest

and best equipped offshore

and marine yards in Latin

America, has achieved

another important milestone

on the construction of

floating production

platform (FPU) P-56 for

Petrobras.

P-56’s lower hull was built in

two ‘C’ sections, which will

be ‘mated’ later at sea. This

innovative method was also

used with great success on

the preceding FPUs P-52

and P-51, and has enabled

Brazil to undertake the

construction of large-scale

national projects on home

ground.

BrasFELS’s technological capabilities and technical expertise are key in the joining of the two

‘C’ sections of the lower hull of P-56

The innovative method used

to construct massive units

attests to BrasFELS’s

technological capabilities

and engineering expertise.

Coupled with its project

management strength,

BrasFELS is well-poised to

contribute national content

towards Brazil’s landmark

offshore projects. keppelite

Contributing to Qatar’s green vision

In places with arid climactic

conditions, many would

consider water the new oil.

Understanding the

importance of sustainable

water solutions to hyper-arid

Qatar, Keppel Seghers, the

environmental engineering

arm of Keppel Integrated

Engineering, sponsored the

publication of a book entitled

Water, Agriculture and

Environment in Arid Lands

(Water and Agricultural

Vision for Qatar by 2020).

Commissioned by the Friends

of Environment Centre, a

non-governmental

organisation that looks into

environmental management,

the book examines the

opportunities and challenges

of water management for

agriculture in Qatar.

Keppel Seghers is currently

building the Doha North

Sewage Treatment Works

(DNSTW) plant, which will

be Qatar’s largest

wastewater treatment, water

reuse and sludge treatment

facility.

Speaking at the book release

event on 4 January 2010,

Mr Vincent Wong, COO

(Global Head of Engineering)

of Keppel Seghers, said, “The

high-quality treated water by

DNSTW will be used for

agriculture to ease the load

on groundwater resources.”

keppelite

Sponsored by Keppel Seghers, the book

examines the opportunities and challenges

of water management for agriculture in

Qatar

Keppelite I January 2010


26 Sustaining Growth

Union of hearts and minds

Keppel Merlimau Cogen

(KMC) saw a meeting of

minds when it signed the

first Collective Agreement

with the Union of Power and

Gas Employees (UPAGE) on

14 January 2010.

Bearing witness to the

significant milestone which

took place in KMC on

Jurong Island were Keppel

Corporation’s Chairman,

Dr Lee Boon Yang, and CEO,

Mr Choo Chiau Beng, as well

as Dr Ong Tiong Guan,

MD of Keppel Energy, Mr Sin

Boon Ann, advisor to

UPAGE and Member of

Parliament for Tampines GRC

and Mr Tay Seng Chye,

President of UPAGE.

The strong presence of

Keppel‘s management at the

ceremony is testament to the

firm support given to the

welfare of KMC employees.

KMC officially became a

unionised company of

UPAGE in May 2008,

following which negotiations

for the Collective Agreement

began. While the process

had not been without its

challenges, Keppel Energy’s

management never once lost

sight of the imperative of

staff welfare.

Mr Nicolas Lai, GM of KMC,

shared, “KMC is a member

of the Keppel Group, which

has a long tradition of

collaboration with unions of

different industries to create

a caring working

environment for its

employees.

Dr Lee Boon Yang (second from right) and Mr Choo Chiau Beng (first from left), Chairman and CEO of Keppel Corporation respectively,

bantering with KMC’s bargainable employees after the signing ceremony

“We entered the first

Collective Agreement

between KMC and UPAGE in

the same spirit and with the

hope that it will form the

foundation for a long-term

win-win relationship.” keppelite

Ship of knowledge

The 92-year-old MV Doulos,

currently used as a floating

bookshop, has been

berthed at Keppel Bay since

27 December 2009.

The historical vessel is the

world’s oldest ocean-faring

passenger ship and is

expected to be

decommissioned later this

year. keppelite

Keppelite I January 2010


Sustaining Growth 27

Harnessing solar power

Located near the equator,

Singapore is well-positioned

to benefit from the year

round sunshine.

Harnessing this abundant

sunlight, Keppel Offshore &

Marine Technology Centre

(KOMtech) has installed two

photovoltaic (PV) power

plants on its rooftop to

convert solar energy into

electricity.

Each PV power plant has an

average lifespan of about

25 years and can generate

energy savings of 30,000

kilowatt hours (kWh)

annually. Combining the

usage of two such plants,

KOMtech can potentially

save as much as 1.5 million

kWh, as well as prevent

carbon dioxide emissions of

1,300 tonnes.

With the breakthrough in

low cost production of PV

panels coupled with

increasing cost of

conventional electricity

generation, using PV

technology is becoming

more viable. Utilising solar

energy makes both

environmental and business

sense as such green features

help KOMtech save energy

and costs for the future. keppelite

With the installation of PV power plants on its rooftop, KOMtech will be able to generate

energy savings and minimise carbon dioxide emissions for over two decades

Light years ahead

M1 plans infrastructure upgrade for faster and greener network.

Leading mobile operator

and member of the Keppel

Group, MobileOne (M1) will

be testing a new generation

of cellular technology known

as Long Term Evolution (LTE),

which touts higher mobile

broadband speeds and lower

carbon footprint.

Made possible by energy

efficient technology from

Nokia Siemens Networks,

M1 will begin implementing

the technology from

February 2010 on a trial

basis.

Users can look forward to

mobile broadband speeds

fast enough to dispatch

bandwidth-sapping high

definition (HD) TV content

to their mobile phones.

Besides enhanced network

coverage and capacity, LTE

technology will also lower

site power consumption

significantly. M1 expects to

achieve up to 35% reduction

of its telecommunications

networks carbon footprint by

early 2011.

Mr Patrick Scodeller, Chief

Technical Officer of M1, said,

“The trial will help pave the

way for faster and better

quality mobile broadband

services in the future. The

extensive use of Nokia

Siemens Networks’ proven

energy efficient equipment

will ensure that we have in

place a platform that is well

able to meet the increasingly

demanding environmental

standards now and in the

future.”

Starting this month, the

public can witness the

impressive power of LTE

technology at M1’s flagship

store in Paragon which will

be showcasing HD TV

streaming and high-speed

web surfing. keppelite

Keppelite I January 2010


28 Empowering Lives Lives

Game for more

For a job well done, Mr Choo

Chiau Beng, CEO of Keppel

Corporation, hosted an

appreciation luncheon for

the Keppel Scholars Alumni

Association (KSAA)

Committee and its Keppel

Games 2009 Organising

Committee on 15 January

2010.

A flurry of suggestions,

feedback and brainstorming

of new ideas were

fervently exchanged over

lunch, joined by Keppel

Corporation’s senior

management, Mr Teo

Soon Hoe, Senior Executive

Director and Group Finance

Mr Choo Chiau Beng, CEO of Keppel Corporation hosts an appreciation luncheon for the Organising Committee of Keppel Games 2009

Director, Ms Wang Look

Fung, GM of Group

Corporation Communications,

Mr Chee Jin Kiong, Director

of Group Human Resources

(HR) and Ms Cindy Lim, GM

of Group HR.

The lunch ensued from

Group HR’s Annual Review

and Dialogue Session with

KSAA on 16 December

2009, where key milestones

and achievements including

those of Keppel Volunteers

as well as its work plan for

2010 were reviewed.

Importantly, the need to

reposition KSAA so as to

enlarge the outreach and

involvement of young and

promising leaders across

the Group was also

deliberated.

Keppelites can look forward

to more refreshing and

exciting activities in 2010.

keppelite

A ‘belly’ good year

Keppel Offshore & Marine’s

yards made merry to the tune

of Auld Lang Syne and

welcomed the new

year on 31 December with a

bang.

At Keppel Shipyard, a party

was thrown not just to herald

the new year but also to

congratulate 43 employees

who were recognised as

outstanding employees. The

Best Employee Award

categories consisted of Best

Supervisor, Best Worker and

Best Support Staff.

The party was attended by

hundreds of employees with

fascinating performances by

various departments and

groups such as the Keppel

Filipino Club who did a

“Jingle Bell Rock” dance.

Supervisor Mohd Tahir Bin

Md Shah had the crowd on

their feet as he serenaded the

audience with two love

songs by Tom Jones. With

fantastic lucky draw prizes

and games galore, it was a

great way to usher in 2010.

Over at Keppel FELS, the

revelry also flowed with a

Brazilian-themed party

organised by the Engineering

department, complete with

prizes for Mr and Mrs Brazil

– the Best Dressed Award,

Décor of the Year, Show of

the Year and a lucky draw.

Management and staff were

also entertained by

humorous skits and

performances by employees,

as they tucked into a

sumptuous buffet. The star

performance was a belly

dance by the Desert Roses

duo which captured

everyone’s imagination.

Celebrations continued with

several rounds of toasting

and cheering, and well

wishes to new beginnings.

A party of belly dancers and performances

put up by employees at Keppel FELS

keppelite

Keppelite I January 2010


Empowering Lives 29

Second home

Made up of people from all

walks of life, Keppel Offshore

& Marine is like a second

home to many of its

employees, providing

training, lodging and growth

opportunities. Keppelite

takes a look at two

employees who have formed

deep ties at the workplace.

TAKING THE SAFE PATH

As an industry leader, Keppel

Shipyard’s concerted efforts

to ensure a secure work

environment has resulted in

numerous safety and training

initiatives.

All geared up for safety, Farid is keen to use

his knowledge and skills to ensure a

conducive working environment at Keppel

Shipyard (Photo courtesy of Workplace

Safety and Health Council)

Part of its comprehensive

safety training programmes

in collaboration with

Singapore’s Workplace

Safety and Health Council

(WSHC), includes getting

workers to undergo the

Professionals Conversion

Programme (PCP) for

Workplace Safety and Health

(WSH) officers.

One such participant was

Mohammad Farid Bin Jaafar,

a former technical support

officer. When he was

considering a career switch,

he did not expect to be

working in a shipyard, much

less as a safety officer. Since

undergoing the PCP course,

he is now an Assistant Safety

Officer at Keppel Shipyard.

He said, “Previously, I had not

considered how complex

safety could be but here in

the marine industry, the set

of safety regulations are so

comprehensive that it is a

specialised knowledge.”

Having attended the

Specialist Diploma in WSH at

Ngee Ann Polytechnic, Farid

is not only competent in

marine safety but is also

confident about advising

companies on safety hazards

as he has the necessary skills

to handle safety procedures.

Farid has been able to apply

his skills at Keppel Shipyard

and encouraged good safety

habits amongst his peers.

For Aminul, Keppel Singmarine is akin to a second home where his colleagues and him have

formed close bonds

Elaborating that training is

only one part in ensuring a

safe yard, he shared, “An

effective safety officer needs

to assess the situation on the

ground and consider a

variety of mindsets when

dealing with a multi-cultural

workforce. Safety is a journey

and I am glad to have taken

this path.”

HOME IS WHERE THE

HEART IS

Mohammed Aminul Islam of

Keppel Singmarine has been

a migrant worker in

Singapore for 12 years. He

started out as a Mechanical

Fitter and has since risen to

the rank of a Technician

Officer.

Appreciative of the support

he has received from the

Keppel community, Aminul

said, “Keppel Singmarine is

like a second home to me.

The company takes my

welfare into account and my

colleagues and I have form

close ties.”

A father of two, Aminul

sometimes misses his

family back in Bangladesh.

Nevertheless, he is glad to

have the chance of working

in Singapore and providing

his family with a comfortable

living.

Motivated and enthusiastic

about his work, Aminul

firmly believes that he can

achieve more and is

delighted with the

opportunities Keppel has

given him. He shared that

work has developed him in

all areas of his life and has

given him the confidence

to execute projects well.

keppelite

Keppelite I January 2010


30 Empowering Lives

Keppelites Abroad

Navigating Nantong

Keppel Scholar Li Gang spends quality time with his wife during their holiday in Spain in 2008

Some 18 years ago, Keppel

Scholar Li Gang arrived on

the shores of Singapore and

eventually settled down to

call the Lion City his home.

He became a Singapore

Permanent Resident in 1997

but had no qualms when he

was asked to return to his

homeland to help set up a

yard in 2004.

Together with a team from

Keppel, they combed

through the vast China

landscape extending from

the country’s Pearl River Delta

to Northern Dalian before

finally zeroing in on a site

with neighbouring marine

supporting industries along

Chang Jiang River in the

municipality of Nantong,

110 km northwest of

Shanghai.

It was a journey which

eventually led to Keppel

Offshore & Marine sealing an

agreement with Nantong

Zhonghe Holding Company

in May 2005. Not long after,

Keppel Nantong Shipyard

(Keppel Nantong) was born

and Li Gang became the VP

of Keppel Nantong.

On relocating to Nantong,

Li Gang recounted, “I still

remember the joyful

moment in late December

2004 when we were

informed that our Nantong

yard project was approved by

the government. We had

been facing stiff competition

from a major Chinese

shipyard, which made a bid

for the same yard and

hence it was a good

Christmas gift for us.”

He shared that his team’s

perseverance in establishing

good partnerships and

networks in China has

helped deepened ties with

the local Nantong municipal

government and its

agencies.

“It is heartening to see how

the Nantong yard has grown

over the years from a team

of five to the current 1,000

workforce strength. From the

acquisition to the yard

development, we are happy

that our efforts have paid off

with positive results achieved

today.”

In terms of the working

culture, he quipped, “As a

native born Chinese, I have

had little difficulty adjusting

to the working lifestyle and

understanding the needs of

the locals. At the same time,

as I have studied and worked

in Singapore for 12 years,

I am able to act as a liaison

between Singaporeans and

Chinese.”

With his Singaporean wife

staying on back home, the

36 year-old shuttles to

Singapore to spend quality

time with her.

He said, “It’s not easy for us

to maintain the long distance

relationship over the past five

years and I am thankful to

have an understanding

and supportive wife. She

understands that I enjoy my

work and will be able to

contribute more to the

Keppel Group by being

based in China.”

Li Gang believes that

adopting the Can Do! spirit

and strong work ethics in

Keppel will enable one to

achieve their ambitions and

dreams. keppelite

Keppelite I January 2010


Empowering Lives 31

Soaring on a Keppel scholarship

On the cusp of graduation this year, Chan Suan Sim recounts her journey since

taking up a Keppel Scholarship and shares her anticipation with Keppelite

on becoming a fully-integrated member of the Keppel family.

“When I made the decision

to take up the Keppel

Scholarship four years ago, I

had no idea how quickly I

would be assimilated into the

vibrant culture of the

company even before I

would join the workforce

proper.

As a conglomerate, Keppel

was my natural choice as it

offers a broad range of

learning opportunities across

its three core businesses. The

prospect of joining a multinational

company with such

diversity was both fascinating

and daunting to me.

This early impression proved

to be accurate and my

interest in the Group

deepened during my

internships at Keppel

Corporation, Keppel Land

and Keppel Integrated

Engineering in the past three

years.

The internships have exposed

me to the various businesses

and services that Keppel

offers from rigbuilding,

environmental engineering

to property development.

These stints have

been valuable learning

opportunities, stretching my

abilities, as well as instilling

in me a sense of pride as a

Keppelite.

Keppel is committed to

groom talents and they

believe in starting early. As

a studying scholar, I have

been invited to various

company events such as

the Grow Beyond series

and continue to receive

Keppelite regularly, which

helps me keep abreast

of new developments.

Participating in Group

events has also given me the

chance to forge a strong

network of ties with other

Keppel scholars and

employees.

Further to the invaluable

exposure to a different

working culture, I realised

that Keppelites, be it in

Singapore or abroad, local or

foreign, share the same

passion and values in

whatever we do.

Taking up the Keppel

Scholarship has opened

doors to many places –

places that have helped

expand my horizons and

promote self-discovery.

Even with all these

experiences I have enjoyed,

they are but just the tip of

the iceberg. I look forward to

starting on my first full-time

stint upon graduation and

develop my potential as a

Keppelite of mettle.” keppelite

Taking up the Keppel Scholarship

has opened doors to many places

– places that have helped expand

my horizons and promote

self-discovery.

Bringing warm greetings from Singapore, Suan Sim meets Mr Cheung Tak On, VP of Keppel

Offshore & Marine (USA) (left) and Mr Eric H Namtvedt, President of FloaTEC, LLC in the US

Keppelite I January 2010


32 Empowering Lives

Pillars of support

When Mohammad Abul

Kalam Azad came to

Singapore and joined

Keppel FELS, he was full of

hope and aspirations for

his career. Recognising his

hard work and efforts, the

company granted hima

sponsorship to further his

education in 2004.

Grateful for the faith the

company had in him, he was

determined to make the

most of this opportunity to

upgrade himself.

However, it was during this

period when Kalam was

pursuing a Diploma in

Mechanical Engineering

that he experienced some

of the most challenging

moments of his life.

In one of his semesters, his

mother passed away and his

wife had their first child.

Struggling with a conflict of

emotions, work and family

commitments, his academic

commitments had to take a

backseat.

As a foreigner, he did not

have a network of relatives

he could reach out for

support and assistance. As a

result, he was not able to

perform in school and even

failed two modules, which

caused him to be barred

from school.

Mohammad Abul Kalam Azad drew strength from the support he received from his wife and colleagues to overcome challenges

Alerted to Kalam’s plight, the

Group Training Department

of Keppel Offshore & Marine

quickly stepped in to

persuade the school’s

administrators to review

Kalam’s circumstances and

provide him with a second

chance. Meanwhile, his

peers at work helped to

alleviate his work load during

the crucial examination

periods, so that he could

better concentrate on his

studies.

Kalam was able to draw his

strength and inspiration

from the support he

received from his wife and

colleagues. With their

encouragement, he

persevered and eventually

completed his academic

pursuit successfully.

Starting out his career as a

Mechanical Fitter with

Keppel FELS, he is now an

Assistant Mechanical and

System Manager.

Reflecting on the tough fiveyear

period that it took to

acquire his Diploma in

Mechanical Engineering,

Kalam said, “I am very

thankful to have had my

wife and colleagues to lean

on in my time of need.

Without their support, it

would have been much

harder for me to deal with

the loss of my mother, cope

with multiple commitments

and overcome academic

setbacks.” keppelite

Keppelite I January 2010


Nurturing Communities 33

Seeding high standards of

accountability

From supporting the arts,

protecting the environment,

championing safety to

leading best practices in

governance, the Keppel

Group has constantly strived

to contribute to communities

where it operates.

In an effort to consolidate its

corporate social responsibility

initiatives (CSR), Keppel has

formed a cross-business unit

committee, comprising key

management from across

the Group, to provide

strategic direction and guide

its efforts.

oversee efforts to develop

processes and products that

minimise impact to the

environment and ensure

that our operations and

products meet national or

international standards in the

areas of environmental

protection, labour relations,

health and safety.

The Group CSR Steering

Committee will also ensure

coherence and consistency

in Keppel’s efforts to be

a socially responsible

company internationally, as

well as in local communities.

Keppel Group Corporate

Communications. At the

Group level, the working

committee will identify,

initiate measures and

manage pertinent CSR

aspects, track and report

CSR performance and

recommend and implement

strategies to achieve

collective goals. keppelite

Chaired by Mr Choo

Chiau Beng, CEO of Keppel

Corporation, the Group CSR

Steering Committee will

Supporting them is the

Group CSR Working

Committee, chaired by

Ms Wang Look Fung, GM of

Keppel Group strives to contribute back to communities wherever it operates

Visions of Pandora

Spreading the green message amongst

employees and their families with

3D-screening of hit movie, Avatar

The importance of responsible

urban development for

sustainable living was a key

theme in the box office hit

movie ‘Avatar’.

Keppel Land sponsored

the movie screening for

employees on 8 January

2010 with the aim of

reinforcing the Copenhagen

Climate Change Summit’s

message on sustainability.

The event received an

overwhelming response with

close to 250 tickets snapped

up.

The moviegoers experienced

the beauty and power of

Mother Nature through

3D lenses, as they were

transported into the pristine

world of Pandora, a mythical

forest faced with the threat

of deforestation.

Striking a chord with its

audience, Ms Syndee Yap,

Finance Manager at Keppel

Land, said, “The movie

has enabled more people

to be exposed to the

important message of

conserving the environment

and represents Keppel Land’s

efforts to continually spread

the green message to

employees and associates.”

keppelite

Keppelite I January 2010


34 Nurturing Communities

Lending a helping hand

The Ilha Grande Island of

Angra dos Reis, Brazil,

suffered a landslide on

1 January 2010 destroying

some houses and a

hotel. Keppel FELS Brasil

immediately mobilised a

workboat and barge to assist

in the transfer of equipment

to the island to facilitate

the search and rescue

operations.

As the aftermath of the

landslide gradually worsened

with continuous heavy rain,

Mr Kwok Kai Choong,

President and CEO of Keppel

FELS Brasil, led 80 Keppelites

in providing relief to the

victims of landslides on

9 January 2010.

Keppelites gave of their time and energy to provide relief to victims of the landslide in Angra dos Reis, Brazil

Working tirelessly with the

authorities, the employees

had taken the initiative to

lend their time and efforts.

Mr Kwok said, “We are

working in partnership with

the City Hall. They have

informed us of the biggest

necessities needed and

together, we will help in the

recuperation of the city.”

The Keppelites donated basic

necessities as well as helped

in the distribution of the

relief supplies. In addition,

Keppel is refurbishing four

buildings in Jacuecanga to

accommodate 140 families

displaced by the landslides.

In an appreciation letter

to Mr Kwok, Artur and

Alessandra Jordão, Mayor

and First Lady of Angra

dos Reis respectively, wrote,

“We are at a lost for words

to express our gratitude

during this period when we

are working together to

support our city. Rare are

people like you, toiling

side by side with the

workforce, unloading

donations, together with

your marvelous team who

have spared no effort to

help us day today.” keppelite

Mr Artur Jordão (left), Mayor of Angra dos Reis, thanks Mr Kwok Kai Choong (centre),

President and CEO of Keppel FELS Brasil, for supporting relief efforts

Keppelite I January 2010


Colouring life

Nurturing Communities 35

volunteers

Keppel

Keppel Volunteers made a

splash with graffiti on some

building walls on 23 January

2010. Letting their creative

juices flow, they painted

Block 49 of Stirling Road with

much zest. It was not a

vendetta against the

residents there, nor had they

decided to break the law.

Instead, it was a project

with SG Cares, another

home-grown volunteer

organisation, on a muralpainting

spree at a Housing

Development Board (HDB)

estate in the Queenstown

district.

Aptly named Heritage Mural

Painting, this activity was

the brainchild of Social

Creatives Limited, a company

developed with the intention

of integrating creativity

among communities, thus

working towards making

Singapore a more caring

society – beautiful on the

inside, as well as out.

Their previous projects

include painted dustbins

along Orchard Road in 2008

and in stations along the

North-East Line of the Mass

Rapid Transit system.

Armed with nothing but

paint brushes in their hands

and a determination to

leave a piece of history for

future generations to

appreciate, a group of

excited Keppelites teamed

up with their SG Cares

counterparts to cover the

HDB walls with their

interpretation of the theme,

‘Curls of Life’.

Revolving around the myth

of Medusa, which has been

typically represented by a

female Greek goddess with

a head of snakes for hair, the

volunteers transformed her

into a Siren.

In their graphic illustration,

her hair is painted in a

myriad of colours to

represent the multi-racial

society of Singapore –

connected yet flowing freely

as one.

The collaboration with

SG Cares to embark on

volunteer projects is the first

of many. Through this

partnership, Keppelites can

participate in many more of

such meaningful projects on

a selective basis. keppelite

Painting for the future – Keppelites add colour to the Queenstown district

Keppel Volunteer Evelyn Liew contributing her time and creative talents during the Heritage

Mural Painting activity

Keppelite I January 2010


36

BackPage

Keppel expands property portfolio

Keppel Land has acquired

a 30.3-ha site for

RMB 884 million ($180

million) in Shenyang, the

gateway to Northeastern

China. The site will be

developed into a residential

township comprising about

6,000 waterfront apartments

and will increase the

company’s portfolio in

China to more than 30,000

homes.

Commanding a 900m

frontage along the 400m

wide Hun River, the new

waterfront site is located in

the Hunnan New District

outside the Second Ring Road

and a 20-minute drive from

the city centre. It is also a

25-minute drive to

the Shenyang Taoxian

International Airport, the

largest capacity and busiest

airport in Northeastern

China.

Mr Ang Wee Gee, ED and

CEO (International) of Keppel

Land, said, “Shenyang’s

economy has continued to

grow strongly and the

outlook for its property

market is promising.

“Choice waterfront sites are

few and select in Shenyang.

With its connectivity and

proximity to the Central

Business District, we are

confident that Keppel’s new

site will be a coveted

residential address.”

Targeted at the upper-middle

market, the initial phase of

1,200 high quality apartments

is expected to be launched

progressively, starting from the

second half of 2011.

Shenyang, the capital city of

Liaoning Province, plays a

crucial role as the economic,

industrial, commerce and

transportation centre

in Northeastern China.

Strategically located within

the Bohai Economic Rim,

Shenyang’s strong economic

performance and rapid

urbanisation have led to

increased and sustained

demand for more homes.

The waterfront project is

Keppel Land’s second

township in Shenyang, the

first being a 34-ha integrated

township development in

Shenbei New District. keppelite

Keppel Land’s second township in Shenyang will provide 6,000 waterfront homes

Printed on recycled paper

Keppelite I January 2010

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