Tribute to service - Keppel Land China€¦ · Keppel values guide us in making the right decisions...

Tribute to serviceMCI (P) 153/01/2014

January 2014www.kepcorp.com/ekeppelite

Setting a record 8

Landing top

honours 14

Spreading festive

cheer 28

Keppelite I January 2014

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Contents

CO REG NO: 196800351N

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Cover image: Mr Loh Chin Hua, CEO of Keppel Corporation, presents a specially-designed book entitled Mission. Mettle. Mint. to Mr Choo Chiau Beng at the dinner held in Mr Choo’s honour.

Published for people in the Keppel Group by the Group Corporate Communications Division, Keppel Corporation Limited, 1 HarbourFront Ave, #18-01 Keppel Bay Tower, Singapore 098632. Printed by Image Printers Pte Ltd, Blk 1002, Redhill Industrial Estate, Jalan Bukit Merah, #03-12, Singapore 159456.

Editorial AdvisorWang Look Fung

EditorCandice Low

Editorial CommitteeAng Lai Lee, Carol Huang, Chan Suan Sim, Cheryl Goh, Chew Chong Peng, Dale Lai, Donald Sng, Eileen Tan, Elizabeth Widjaja, Eva Ho, Frances Teh, Grace Chia, Hayley Teo, Hoo Yao Lin, Ivana Chua, Lee Chin Siang, Lee Wan Jun, Liang Hui Hui, Lim Xuehui, Noelle Yong, Priscilla Chong, Razali Maulod, Roy Tan, Say Huan Yuan, Serena Toh, Sue Ann Huang, Teri Liew, Tracy Pham, Vett Ramos, Woon Pek Yong, Yolanda Guo, Yu Zehan

SUSTAINING GROWTHKeppel REIT posts record distributable income 5

Stronger performance from Keppel T&T 6

Steady distributions from K-Green Trust 7

Setting a record 8

Deepening presence in Indonesia 10

Model for sustainable development 11

Landmark arrival of P-61 12

At the helm 13

Landing top honours 14

SpeCIAL FOCUSMission. Mettle. Mint. 16

A new realm of possibilities 20

Propelling offshore wind 21

New tug for Baku 22

Winning partnership

Spurring InnovationsInspirations from outside the box 23

eMpOWeRING LIVeSGem of experience 24

Stellar service

Keppelites AbroadDesert flower 25

Making merry 26

NURTURING COMMUNITIeSSpreading festive cheer 28

Heartfelt thanks from Azerbaijan 30

Lion Men

Keppel VolunteersSwabbing to save lives 31

BACK pAGeSuper ace delivery 32

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Keppelite I January 2014Keppelite I January 2014

From the desk of the new CEOWe reproduce the message to Keppelites from Mr Loh Chin Hua, CEO of Keppel Corporation, which was sent on 2 January 2014.

What do you do when you assume leadership of a great company? One that has grown and shown great resilience through the ups and downs in the past 45 years…it must be to make her an even better company, to attain greater success than what we enjoy today, and to ensure she will outlast all of us. This is the Keppel way.

It is my privilege to take over from Chiau Beng, who along with his predecessors and generations of Keppelites present and past, have built Keppel to what it is today.

We have a strong foundation. Our three key businesses of offshore & marine, property and infrastructure are doing well. I am blessed with a strong and wise Board, a sterling leadership team of Yew Yuen, Tiong Guan and Wee Gee, and all of the 43,000 Keppelites around the globe. Apart from a strong balance sheet, confidence from customers and good products, our core values like passion, integrity, customer focus, safety, innovation are deeply entrenched across the Group. We have a rich tradition of overcoming adversities, through toughness, enterprise and hard work. We have emerged stronger each time. This is in our DNA and will continue to serve us well in the next leg. Continues on page 4...

Dear Keppelites,

Indeed, we have many strengths. But the road ahead will be challenging. Our competitors are not sitting still. Neither must we. To keep winning, we need to aim high, and stay sharp. I believe there are some important principles that must underlie everything we do, as Keppel enters its next era:

AMBITIONFirst: Set high ambitions and stay hungry. We must not be content with what has been achieved but to continue to push the boundaries of our performance.

We must strive to be the leader in all our chosen businesses, not be just another player. To pull ahead of competition, we must continue to provide our customers with the best value proposition so that they will seek us out. We must be always on the lookout for new profit pools that we can tap consistently, and stay one step ahead so we are not overtaken by technology, rivals or shifting markets.

QUALITY eXeCUTIONGreat execution has long been a hallmark of Keppel. We must be uncompromising in maintaining our commitment to that. We will deliver our projects on time, on budget and incident-free. To meet this commitment, we have to

work hard but we also need to continuously improve our processes to raise productivity and to improve efficiencies.

peOpLeThis brings me to the next principle: Commitment to building the very best team possible. We can be in the right businesses but unless we have the right people running them, we will not be able to derive profits from them nor scale them. In this respect, we will do more to bolster our bench strength, nurturing and developing young Keppelites to take up fresh challenges and new roles. We will also widen our pool


of resource by selectively looking for local hires who share our values in the 30 plus countries that we operate in. Talent management and succession planning will remain high on our priority list. We will hone and use platforms like the Keppel College and the Keppel Young Leaders to imbue the right values in our people and to uncover the best and the brightest to lead us.

INNOVATIONAnother principle is committing to ongoing investment in R&D and thinking innovatively. This has put us at the forefront of our chosen industries. We must continue to invest wisely in R&D and to create a culture where we think out of the box and dare to take thoughtful risks, across the value chain. Somewhere out there is another innovative award-winning design that our property customers will appreciate, and another industry workhorse like the KFELS B Class jackup waiting to be developed. We will keep collaborating with our customers, industry partners and universities to think up new product solutions using the best technology on offer. We will seize every opportunity to innovate and to produce industry leading products and services to meet the needs of our customers.

eNTeRpRISe AND RISK TAKINGWhat has also set us apart is a strong entrepreneurial spirit and the ability to see and act decisively on opportunities. Some have described us as eagles soaring high ready to seize opportunities quickly. This spirit of enterprise and willingness to take calculated risks has gotten us to where we are today. We do not bet the farm and we must always ensure proper risk management principles

are followed, but to realise our full potential, we must continue to take calculated risks where we are rewarded appropriately.

FINANCIAL DISCIpLINeCapital is scarce. As a conglomerate, we must deploy our capital to earn the best risk-adjusted returns. We will adopt a capital-constrained mindset in choosing projects, critically weighing all opportunities available, and not just settle for those that meet the minimum hurdle rate. And as our businesses are cyclical, it is vital for Keppel to maintain financial discipline and an institutional quality balance sheet. Here, reviewing our rich history helps. There are many fine examples of how the Group was able to seize growth opportunities even when the currents were against us. We made lemon juice from the lemons. Financial muscle is imperative for us to act decisively on the right opportunities.

CLARITY OF FOCUSGood conglomerates must stick to their core competencies. Even as we look for new opportunities, we shall not stray too far from our core and close adjacencies. Good housekeeping means we should provide the appropriate oversight and stewardship of the businesses we are in. There must also be a discipline to prune non-core businesses and assets, monetise and recycle capital to bring better returns.

In the months ahead, I will be working closely with the senior management team to give more thought into the principles I have set out above, to see how we can best operationalise them and further ingrain them into our processes and our behaviours, much like how the

...continued from page 3.

Keppel values guide us in making the right decisions every day.

2013 has been a great year for us. It has been made spectacular with the delivery of 21 rigs, and reinforcing the position of KFELS B Class jackup as an industry benchmark with 69 of them secured since 2000. In Property, we added Corals at Keppel Bay, a world-class waterfront precinct transformed from the old Keppel Shipyard, reflecting our ability and determination to create value for our stakeholders. In Infrastructure, we have restructured Keppel Energy and Keppel Integrated Engineering into Keppel Infrastructure, consolidating our resources to invest in, own and operate energy and environmental engineering solutions and services. These are but a few examples of our list of achievements and successes in 2013. But we shall not rest on our laurels.

2014 will usher in a new chapter for the Keppel story. I am committed to further fortify the foundations for a stronger Keppel, sustainable for all our stakeholders. The bar has been set high. However with the support of the Board, Unions and all Keppelites, I am confident we will make this an even greater company focused on doing well and doing good. As always, the battle cry for us in Keppel is Can-Do!

I wish you and your loved ones a Healthy and Happy New Year!

Loh Chin Hua


Sustaining Growth 5 Sustaining Growth 5

Keppel rEIT posts record distributable incomeKeppel REIT recorded its highest full-year distributable income of $214 million for FY2013 since its listing. This is an increase of 6.0% year-on-year (y-o-y) and represents a distribution yield of 6.6% based on Keppel REIT’s closing price of $1.185 on 31 December 2013.

The Distribution per Unit (DPU) of 1.97 cents for 4Q 2013 resulted in a DPU of 7.88 cents for FY2013, 1.4% higher than the DPU of 7.77 cents for FY2012.

In FY2013, Keppel REIT registered a 10.9% y-o-y increase in both property income and net property income to $174.0 million and $138.3 million respectively. This is due to improved performance from Ocean Financial Centre and 77 King Street and the additional income from the acquisition

of 8 Exhibition Street in Melbourne.

Ms Ng Hsueh Ling, CEO of Keppel REIT Management, said, “We are pleased that the REIT has recorded its highest full year distributable income of $214 million for FY2013. We have been proactive in

our lease management and are pleased to conclude the financial year with all our Singapore assets of nearly 2.4 million sf of net lettable area fully committed, increasing our portfolio average occupancy to 99.8%.”

The Manager has a lso c o m p l e t e d t h e e a r l y refinancing of all loans due in 2014 and a further $60 million due in 2015, with no refinancing requirements for the next 22 months.

Seven out of eight existing buildings under Keppel REIT are fully committed. Overall portfolio average occupancy increased from 99.4% in 3Q 2013 to 99.8% in 4Q 2013. In Australia, Keppel REIT’s new premium office building in Sydney’s CBD, 8 Chifley

$’000 4Q 2013 FY2013 FY2012 % Change

Property Income 47,492 174,043 156,870 10.9 Net Property Income 37,350 138,294 124,660 10.9 Share of results of associates 15,764 62,134 46,844 32.6Total Return before Net Change in Fair 46,660 162,561 131,077 24.0 Value of Investment Properties and TaxIncome Available for Distribution 54,920 214,043 201,899 6.0 Distribution to Unitholders1 54,920 214,043 201,899 6.0Distribution per Unit (“DPU”) (Cents) 1.97 7.88 2 7.77 1.4 For the Period/Year Distribution Yield % 6.6%3 6.6%3 6.0 4 –

1 The distribution to Unitholders is based on 100% of the taxable income available for distribution.2 Total DPU for FY2013 is 7.88 cents based on 1.97 cents, 1.97 cents, 1.97 cents and 1.97 cents announced in 1Q 2013, 2Q 2013, 3Q 2013

and 4Q 2013 results announcements respectively.3 The yield is based on the market closing price per unit of $1.185 as at the last trading day, 31 December 2013.4 The yield is based on the market closing price per unit of $1.295 as at the last trading day, 31 December 2012.

FINANCIAL HIGHLIGHTS

Square, has also achieved 95% occupancy.

Overall, the weighted average lease expiry for the top 10 tenants is approximately 9 years, and 6.5 years for the entire portfolio. Keppel REIT’s total portfolio of 10 property assets in Singapore and Australia grew 10.4% y-o-y to a total value of $7.2 billion.

Keppel REIT will continue to focus on maintaining the strong occupancy for its portfolio of properties and proactively manage leases due for rent review and renewal. It will selectively p u r s u e a n d r e v i e w opportunities for strategic acquisitions and divestments to deliver long-term growth for Unitholders. keppelite

All five of Keppel REIT’s Singapore properties, including Ocean Financial Centre (in picture) are fully committed

6 Sustaining Growth


Keppel Telecommunications & Transportation (Keppel T&T) registered higher full year net profit, rising 13.9 per cent to $63.2 million last year.

Fu l l year revenue a lso rose to $161.7 million, up 17.6 per cent as both the data centre and logistics divisions recorded higher revenue.

Revenue for the logistics division grew 16.5 per cent to $108.6 million, while revenue for the data centre division grew 20 per cent to $53.1 million.

Earnings per share rose 10 cents or 14% from the year before to 11.4 cents. Net asset value per ordinary share increased 10% to 85 cents per share.

While Keppel T&T’s China logistics operations reported lower profits because of the start-up and implementation costs incurred by newly d e v e l o p e d p r o j e c t s , overall operating profit improved 31.7 per cent to $33.3 million.

Construction of Keppel T&T’s new air logist ics hub at Tampines Logistics Park in Singapore remains on schedule, while cargo throughput for the Wuhu

Stronger performance from Keppel T&T

Sanshan Port, in Anhui Province, China, which started operating last year has been encouraging. The Tianjin Eco-City Distribution Centre is also slated for completion in the second half of this year.

Demand for data centre space is robust, sustained by the growing trends in cloud computing, e-commerce and

social media. Construction of the Group’s third data c e n t re i n S i n g a p o re , Keppe l Datahub 2 , i s proceeding well.

Keppel T&T will seek new data centre development opportunities. The Securus Data Property Fund is actively pursuing new acquisition opportunities in Asia and Europe to add to its current

portfolio of six assets.

The Fund is also exploring the establishment of a data centre real estate investment trust to be listed on the Main Board of the Singapore Exchange.

Keppel T&T declared a final cash dividend of 3.5 cents per share, the same as in 2012. keppelite

Keppel T&T data centre division’s revenue for 2013 increased 20 per cent


Sustaining Growth 7

Steady distributions from K-Green TrustContinuing its track record of paying out stable and reliable distributions to unitholders, K-Green Trust (KGT) announced that its distribution per unit for 2H 2013 would be maintained at 4.69 cents, similar to the corresponding period in the previous year. Together with the distribution of 3.13 cents per unit for 1 H 2 0 1 3 , t h e t o t a l distribution for FY 2013 was 7.82 cents per unit, same as FY 2012. This translated to a distribution yield of 7.5% based on the market closing price of $1.045 on 31 December 2013.

Exc luding construct ion revenue arising from the flue gas treatment upgrade, the KGT group revenue for

FY 2013 was $67.1 million, 1.5% lower compared to FY 2012. The f lue gas treatment upgrade was completed last year.

Profit after tax for FY 2013 w a s $ 1 4 . 2 m i l l i o n , contributing to earnings per unit of 2.25 cents for the year. Excluding the contribution from the construction of the flue gas treatment upgrade last year, profit after tax was $0.3 million or 1.9% lower compared to FY 2012.

Net asset value per unit as at 31 December 2013 was $1.00. Cash generated from operations remained healthy at $52.3 million for FY 2013.

Mr Thomas Pang, CEO of Keppel Infrastructure

Fund Management (KIFM), the Trustee-Manager of KGT, said, “K-Green Trust continues to deliver stable and predictable returns to our unitholders. As part of our asset enhancement program, we have installed a 1MWp solar photovoltaic system on the rooftops of Ulu Pandan NEWater Plant which has helped to reduce electricity intake from the grid, and operating cost of the plant.

“ In 2014 , we rema in commi t ted to d r i v i ng growth through acquisitions and will continue to seek other asset enhancement opportunities and capacity expansion to improve the operating performance of our plants.”

The 1MWp solar photovoltaic system installed on the rooftops of the Keppel Seghers Ulu Pandan NEWater Plant reduced the plant’s electricity intake from the grid, helping to lower the operating cost of the plant

KGT is a ‘green’ infrastructure-focused business trust listed on the Singapore Exchange. Its current portfolio includes the Senoko Waste-to-Energy (WTE) Plant, the Keppel Seghers Tuas WTE Plant, and the Keppel Seghers Ulu Pandan NEWater Plant. All three assets have long-term concession agreements with Singapore statutory bodies and are expected to provide stable performance.

K IFM wi l l cont inue to evaluate asset enhancement opportunities and capacity expansion in all three assets, and will continue to work with its sponsor, Keppel Infrastructure, to identify and evaluate suitable acquisitions. keppelite

8 Sustaining Growth


Setting a recordKeppel FELS delivered 21 rigs in 2013, setting a new record for the most number of offshore rig deliveries by a company in a single year.

Keppel FELS delivered its 21st rig, a KFELS B Class unit, ARABDRILL 60, to Arabian Drilling Company (ADC) on 27 December 2013. This exceeded Keppel FELS’ initial target of 20 rigs for the year.

ARABDRILL 60 was delivered five days ahead of schedule, on budget and with a perfect safety record. It was named in the presence of the Guests-of-Honour, Mr Mohamed Yousof Rafie, Chairman of ADC’s Board of Directors,

and Mr Lawrence Wong, Singapore’s Acting Minister for Culture, Community and Youth and Senior Minister of State for Communications and Information.

Mr Lawrence Wong shared, “Keppel FELS has many rigs in its track record, but this one is special because it is Keppel’s 21st delivery, capping off 2013 and setting a new record, not just for Keppel but any company in the world. Furthermore, it commemorates the 45th

ann iversary of Keppe l Corporation. So there are many ways to celebrate this special occasion and I want to congratulate Keppel and Arabian Drilling Company.”

M r R a f i e s a i d , “ T h e performance of our first new KFELS B Class rig, ARABDRILL 50, has fully met our expectations and we are confident ARABDRILL 60 will be just as successful. Together, these two high specification rigs enable us to offer Saudi Aramco

productive, safe and cost-efficient drilling operations. We have been impressed with the commitment by Keppel FELS in delivering to high quality and safety standards, while ensuring our requirements were met. This is a win-win partnership we have built with Keppel that we hope to continue into the future.”

Noting that ARABDRILL 60 underwent some variation orders to bring the rig in compl iance with Saudi

(Front row from L-R) Mr Tong Chong Heong, CEO of Keppel Offshore & Marine (Keppel O&M); Mr Abdulaziz Abdullah Al Mulhim, Regional Manager of Bank AlFransi; Dr Lee Boon Yang, Chairman of Keppel Corporation; Mr Lawrence Wong, Acting Minister for Culture, Community & Youth; Mr Mohamed Yousof Rafie, Chairman of Arabian Drilling Company (ADC); Mr Saad A. Saab, Board Member & MD (Admin) of ADC; Mr Aamir Salim, Operations Manager (Offshore) of ADC; and Mr Choo Chiau Beng, then-Chairman of Keppel O&M, celebrate the naming of ARABDRILL 60


Sustaining Growth 9

Mammoth feat Mr Wong Kok Seng, MD (Offshore) of Keppel O&M and MD of Keppel FELS, shared how Keppel was able to pull off the world record-setting feat, providing insights on the rig-building process to reporters at the naming ceremony.

Building a KFELS B class jackup rig involves coord ina t ion among multiple teams and over a thousand workers. We streamlined the process through new technology and equipment and an innovative construction methodology. Our teams collaborated seamlessly and we worked closely with every customer to understand their needs.

While the bulk of the fabrication was undertaken at Keppel FELS’ yards in Singapore, certain parts were fabricated by our sister yards in Indonesia, t he Ph i l i pp ine s and China as wel l as our subcontractors’ facilities. The blocks were then brought back to Keppel FELS for integration.

T h e t h o u s a n d s o f components that go into a particular rig are supplied by hundreds of vendors from all over the world. The right components must arrive at the right time to enable a smooth construction process. Our supply chain management capabilities have been built up over many years to

take on the volume of rig building.

We set out to deliver 20 and ended up delivering 21 rigs on time or ahead of schedule and safely. Our previous record was 13 in 2009. This is the Keppel standard. We always challenge ourselves to do better.

To complete 21 rigs in a year, we had to deliver a vessel nearly every two weeks. This meant that there were 45 projects going on simultaneously, including repair works on other vessels. A confluence of factors - the timing of rig orders, availability of equipment and resources – together with good forward planning and a focus on excellent execution, made the record possible. In the long term, we are prepared for productivity of around 11 rigs per year – a combination of semisubmersible and jackup drilling units. This is equivalent to about one rig delivered per month, which will still maintain us at the forefront of the industry.

Aramco’s contract , Mr Muhammad Umar Loan, MD (Technical) of ADC praised the safe and early completion of the project.

Developed by Keppel ’s technology arms, Offshore Technology Development and Bennett Offshore, the award-winning KFELS B Class jackup design is able to operate in water depths of up to 400 feet and drill

to depths of 30,000 feet, which is readily upgradeable to higher performance capabilities. This class of rigs accounts for over 30% of total jackups completed globally since 2000.

ARABDRILL 60 is the 51st KFELS B Class rig delivered since 2002. In 2013 alone, 15 KFELS B Class rigs were del ivered and 18 were ordered. keppelite

The delivery of ARABDRILL 60, the 21st rig delivered by Keppel FELS in 2013, sets a new record in a milestone year for Keppel

10 Sustaining Growth


Deepening presence in IndonesiaIn line with Keppel Land’s commitment to strengthen its foothold in Indonesia, with a focus on Jakarta, the company has entered into an agreement to acquire a well-located three hectare s i te for approx imate ly Rp. 400.8 billion ($42 million) in West Jakarta, where it will develop a high-rise condominium with ancillary shophouses for sale.

Mr Sam Moon Thong, President (Indonesia), Keppel Land, said, “Indonesia is one of Keppel Land’s key growth markets where we will continue to build up our presence. We believe that Indonesia’s steady economic growth, underpinned by s t rong fundamenta l s , will continue to support demand for well-located and affordable homes.

“The residential sector has been growing rapidly in the last few years and we expect this trend to continue in the mid- to long-term, driven by a burgeoning middle-class and growing population.”

Located along the Jakarta Outer Ring Road, the site enjoys excellent connectivity to key business districts and various entertainment hotspots. It is a 15-minute drive from the Soekarno-Hatta International Airport and about 12 km away from International Financial Centre

Jakarta, Keppel Land’s Grade A commercial development in the city centre along Jalan Jenderal Sudirman.

“Th i s new res ident i a l site is situated within an established residential area that is well-served by major transportation networks as we l l as support ing amenities and facilities, including shopping malls and international schools. We are confident that we will see positive demand from homeowners who want to own thoughtfully-designed homes in close proximity to West Jakarta’s Central Business District,” Mr Sam added.

Named Indonesia’s Best Residential Developer at the Euromoney Real Estate Awards 2013, Keppel Land will leverage its expertise a n d e x p e r i e n c e t o develop more than 1,200 condominium units and about 60 ancillary shophouses on the site.

Targeted at homebuyers in the midd le income segment, the first phase of the development is expected to be launched in the first quarter of 2015.

Future homeowners will also be able to enjoy a wide range of shopping, dining and leisure amenities at

Puri Indah Mall, PX Pavilion and Carrefour Hypermart. International schools such as Ipeka International and Global Nusantara School are also in close proximity.

Keppel Land is currently constructing International Financial Centre Jakarta Tower 2, which is located just beside the fully-leased Tower 1 and near the upcoming Setiabudi MRT station. Work on the new 48-storey Grade A office tower is progressing well, with piling works completed. When completed in the second half of 2015, Tower 2 will offer about 50,000 sm of net leasable area. keppelite

Keppel Land has entered into an agreement to acquire a well-located three hectare site in West Jakarta, where it will develop a high-rise condominium with ancillary shophouses for sale


Sustaining Growth 11

Sino-S ingapore T ianj in Eco-City Investment and Development Co., Ltd. (SSTEC) briefed the United Nat ions (UN) members and other stakeholders on the progress of the Sino-Singapore Tianjin Eco-City (Tianjin Eco-City) at the UN Headquarters on 7 January 2014. SSTEC was invited to speak by the Permanent Missions of Singapore and China to the UN.

The event held in New York City was in conjunction with the Open Working Group (OWG) on Susta inable Development Goals from 6 to 10 January 2014. Established at the Rio+20 Conference in June 2012, the OWG will formulate recommendations to the UN General Assembly on p o s s i b l e S u s t a i n a b l e Development Goals. Both

Model for sustainable development

Singapore and China are members of the OWG.

Ambassador Karen Tan, S ingapore’s Permanent Representative to the UN, said, “SSTEC’s briefing on the lessons learnt about sustainable development across the three pillars – soc i a l , e conomic and environmental – will be valuable to the OWG’s work. I t shows that a sustainable development goal on sustainable cities and human sett lement is possible, practical and implementable.”

Ms Lu Mei, Counsellor from the Permanent Mission of China to the UN, said, “China and Singapore’s joint development of the Tianjin Eco-City on deserted alkaline land is a new model of urbanisation and sustainable

deve lopment that has achieved remarkable results. China wishes to continue working with Singapore a n d o t h e r c o u n t r i e s on sustainable cities to contribute to international cooperation on sustainable development.”

Mr Ho Tong Yen, CEO of SSTEC, said, “We are delighted to work with the Permanent Missions of Singapore and China to the UN and share our work with the international community. We hope that through the Tianjin Eco-City, we can contribute to the international community’s sustainable development goals.”

Owing to its solid track record and strong core competencies, the Keppel Group was entrusted to lead

Mr Ho Tong Yen (center), CEO of SSTEC, gave a briefing on the progress of the Sino-Singapore Tianjin Eco-City at the UN Headquarters (Source of photograph: SSTEC)

the Singapore consortium for the Tianjin Eco-City. The Group works closely with its Chinese consortium partner to guide SSTEC, a 50-50 joint venture, in its role as the master developer of the Tianjin Eco-City.

GARNeRING pReSTIGe In December 2013, SSTEC was conferred the Award of 2012 Tianjin Advanced Enterprises with Foreign Investment by the Tianjin Municipal Government. SSTEC is among 89 companies with foreign investment based in Tianjin chosen from a field of 20,000 to receive the honour. Besides outs tand ing economic performance, the award recognises contributions to staff welfare, environmental protection, and community well-being. keppelite



Landmark arrival of P-61P-61, Brazil’s first Tension Leg Wel lhead Platform (TLWP) has arrived in the Papa Terra field, in the Campos Basin located near Rio de Janeiro, Brazil.

The TLWP P-61 was designed by FloaTEC, a joint venture be tween Keppe l FELS and McDermott focused on f loat ing product ion systems. The lower hull of P-61 was built at BrasFELS in Brazil, while the topsides were constructed at Keppel FELS in Singapore. The components were then integrated by BrasFELS, fu l f i l l ing local content requirements.

A d d re s s i n g B r a s F E L S , Everton Rebelo, Project Director of P-61, Petrobras, shared that the success of the P-61 project would not have been possible “without the relentless and remarkable support of BrasFELS.”

B e i n g t h e f i r s t T LW P d e s i g n e d a n d constructed for Brazil, the P-61 project has had its fair share of challenges. However, with good teamwork and communication between FloaTEC, Keppel, McDermott and Petrobras, this project has been able to advance soundly and steadily.

Moo red by p i l e s and tendons, TLWP P-61 will work together with the Floating Production Storage and Offloading (FPSO) unit P-63, which has begun producing oil at the field. Together, the units are able to produce 140,000 barrels of oil per day (bopd).

Petrobras has successfully achieved its target of nine offshore platform deliveries by 2013. Keppel O&M has been a part of four of the nine projects – namely, FPSO P-58, FPSO Cidade de São Paulo, FPSO Cidade de Paraty and TLWP P-61 – underlining the group’s

efforts to contribute to the growing offshore and marine sector in Brazil.

BrasFELS is one of Keppel’s two yards in Brazil. Operated by Keppel since 2000, the yard has delivered a number o f m i l e s tone p ro j e c t s for the country such as three mammoth Floating Production Units, P-51, P-52 and P-56.

C u r r e n t l y, B r a s F E L S ’ ongoing projects include the newbui lding of s ix DSSTM 38E drilling rigs and topside fabrication and installation for three FPSO units. keppelite

Designed by FloaTEC, a joint venture between Keppel FELS and McDermott, the TLWP P-61 has arrived in the Papa Terra field in Brazil



BOARD AppOINTMeNTMr Lim Kei Hin, CFO of Keppel Land, was appointed to the Board of Keppel REIT Management (Keppel REIT) as a Non- Independent Non-Executive Director on 10 January 2014.

Mr Lim, 56, has been CFO of Keppel Land Group since 2007 and is currently a Director of its various subsidiaries and associated c o m p a n i e s , i n c l u d i n g Keppel Thai Properties, K e p p e l P h i l i p p i n e s Properties, Keppel Land China and Alpha Investment Partners.

H e h a s m o r e than 20 years of experience in diverse financial and g e n e r a l m a n a g e m e n t roles in Singapore, the

Philippines, Australia and the USA.

Before jo in ing Keppel , M r L i m w a s C F O o f Singapore Airport Terminal Services Limited. He holds a Bache lor of Sc ience (Economics ) degree in Account ing & F inance (Honours) from the London School of Economics & Political Science, UK.

Mr Lim is taking over the Board seat relinquished by Mr Loh Chin Hua, CEO of Keppel Corporation, who has been appointed Advisor to the Board of Keppel REIT. With these new appointments, the Board of Keppel REIT will comprise a total of nine directors, of whom six are Independent Directors.

at the helm

pReSIDeNT AT KeppeL AMFeLSMr Simon Lee has been appointed President of Keppel AmFELS with effect from 1 January 2014. He will report to the board of Keppel AmFELS LLC and M r C h o w Ye w Yu e n , COO & CEO-Designate of Keppel Offshore & Marine ( K e p p e l O & M ) a n d C h a i r m a n o f K e p p e l AmFELS LLC.

Mr Lee, 40, has garnered e x t e n s i v e o v e r s e a s experience over his 19 years with Keppel. In 1998, he was seconded from Keppel FELS to Keppel AmFELS in Brownsville, Texas. In 2004 he was posted to Keppel O&M USA in Houston, Texas. Prior to his current position, he was V ice Pres ident

(Operations) of Keppel FELS Brasil.

Mr Lee has project and sh i p ya rd e xpe r t i s e i n engineering, procurement, const ruct ion, hook-up and commiss ion ing of offshore drilling rigs and production platforms. He ha s managed va r i ou s projects on drilling rigs, production platforms, FPSO module fabrication and integration.

Mr Lee holds a Master of Business Administration (MBA) f rom Univers i ty of Houston, Texas and a Bachelor degree in Naval Architecture and Offshore Engineering (First Class Honours) from University of Strathclyde, Glasgow, Scotland. keppelite

Mr Lim Kei Hin Mr Simon Lee



Landing top honoursKeppel Land garners top accolades for exemplary business practices relating to sustainability and economic and social contributions.

LeADING THe FIeLDKeppel Land has been ranked 17th globally in the prestigious Global 100 Most Sustainable Corporations in the World 2014, placing it top in the Asian region and real estate sector worldwide.

At the same time, Keppel Land has also retained its position in The Sustainability Yearbook 2014 for the fourth consecutive year as one of the top 15% companies worldwide in sustainability leadership. This year, The Sustainabil ity Yearbook includes only corporations that achieve a score within 30% of the best performing company in the respective industry.

Mr Ang Wee Gee, CEO of Keppel Land, following the announcement of both awards at the World Economic Forum in Switzerland on 22 January 2014, shared, “As environmental, social and governance issues dominate global agendas, we recognise that sustainability is no longer an option, but a necessity.

“As Asia’s leading developer, Keppel Land adopts a proactive approach towards environmental management and protection to create a sustainable future. We are dedicated and committed

Most Sustainable Corporations in the World

to develop properties that improve the quality of life of communit ies across Asia through integrating susta inabi l i ty into our business operations. “Looking ahead, Keppel Land will continue to sharpen our focus on sustainability and innovation. In doing so, we believe that Keppel Land can shape the future to achieve positive and sustainable outcomes for our business, the environment and the community at large.”

Aligning itself with best pract ices, Keppel Land s e e k s g u i d a n c e f ro m internationally-recognised standards including the ISO 14001 and OHSAS 18001. Having adopted the Global Reporting Initiative (GRI) Sustainability Framework,its report is externally assured in accordance with the AA1000 Assurance Standard.

Keppel Land’s Sustainability Report 2012, titled ‘Shaping the Future’, was rated Level A+.

Mr Doug Morrow, MD, Corporate Knights, said, “In selecting the world’s clean capitalism leaders, we adopt a rigorous assessment where corporations are measured against 12 resource and social-productivity metrics.

“This is the first time a Singapore company has done so well since the launch of the Global 100 in 2005. It goes to show that there is a heightened awareness with regards to sustainability

issues among Asian countries today. Similarly, in the real estate sector, with growing concerns on building green developments, it has further encouraged developers to implement sustainability initiatives in their business models.

“We believe that eco-leaders such as Keppel Land and the rest of the Global 100 winners lead the way for a sustainable future with their relentless commitment and efforts toward changing the way we do business today, and encourage more corporations to join on this sustainable journey.”

We are dedicated and committed to develop properties that improve the quality of life of communities across asia through integrating sustainability into our business operations.Mr Ang Wee GeeCEO, Keppel Land



GROWING WITH CHINAKeppel Land China has been conferred the Top 10 ASEAN Companies in China award by the China-ASEAN Business Council. Mr Ang Wee Gee, CEO of Keppel Land, has also been named one of the Outstanding ASEAN Entrepreneurs in China.

T h e To p 1 0 A S E A N Companies in China award, into its second year, took place in Beijing on 7 January 2014 in the presence of Mr Yu Ping, Vice Chairman of China Council for the Promotion of International Trade, Mr Ge Zhirong, State Department Counsel lor and President of the China Entry-Exit Inspection and Quarantine Association, and Mr Xu Ningning, Executive President of China-ASEAN Business Council.

Receiving the award on behalf of Keppel Land China was M r H o C h e o k K o n g , P r e s i d e n t o f K e p p e l Land China. This is the second consecutive year that Keppel Land China has been commended for its economic and social contributions to the local Ch inese communi t i e s .

Mr Ang said, “Our heartfelt thanks go to the judging panel for recognising Keppel Land’s contributions in China over the last two decades. Over the years, we have stayed the course and grown in tandem to meet the country’s urbanisation

needs. Today, our portfolio of award-winning residential, commercial, waterfront and lifestyle developments across 10 Chinese cities is distinguished for its quality and hallmark excellence.

“Looking ahead, we are confident that Keppel Land is well positioned to continue to grow with China. We will leverage our expertise and experience to scale up in the high-growth cities of Shanghai, Beijing, Tianjin, Chengdu and Wuxi, where Keppel Land China has established a firm foothold. We will also continue to play our role as a responsible corporate citizen through balancing economic viability

Mr Ho Cheok Kong (left), President of Keppel Land China, receives the award for “Top 10 ASEAN Companies in China” from Mr Yu Ping (right), Vice Chairman of China Council for the Promotion of International Trade, at the China-ASEAN Business Council award ceremony. This is the second consecutive year that Keppel Land China has been honoured for its economic and social contributions to the local Chinese communities

with efforts in environmental p ro tec t ion and soc i a l responsibility.”

As at end-2013, Keppel Land has a portfolio of assets worth $5.9 billion in China, comprising more than 20 projects in 10 cities. Its land bank of 5.6 million sm translates to a pipeline of about 40,000 homes. To date, Keppel Land China has sold over 23,000 homes and completed over 21,000 homes.

The China-ASEAN Business Council consists of the China Council for the Promotion of Internat ional Trade, the ASEAN Chamber of Commerce and Industry,

national business leaders, well-known enterprises and experts from ASEAN member states.

The judging panel for the Award comprised the China Council for the Promotion of Internat ional Trade, Ministry of Commerce of the People’s Republic of China, ASEAN Ambassadors, and var ious commerce chambers from ASEAN and China. Companies were assessed based on their scale of investment, their rate of development in China, contribution to economic progress and philanthropic efforts. keppelite


16 Celebrating 45 years 16 Special Focus

Mission. Mettle. Mint.The Keppel Man. He is a man on a mission. Casting his sights far into the future, his strides have been purposeful through time and tides. He is fired by a passion not just to survive but to excel. His mettle is chiseled by adversity and tested by storms. He forges a mint of experience for value that endures and outlasts.

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Such a Keppel man is Mr Choo Chiau Beng, CEO of Keppel Corporat ion from 2009 to 2013, who dedicated 42 years in service to the Group. In tribute to Mr Choo’s contributions, board directors and senior management of the Group held a special party at the Capella, Sentosa on 9 January 2014.

Fond recol lect ions and s en t imen t s f i l l e d t he evening of celebrat ion where Keppelites shared personal anecdotes on Mr Choo, talented musicians

took to instrument and song and apprec iat ion tokens were presented to our former CEO and his wife, Mrs Eileen Choo.

On behalf of Keppelites, Dr Lee Boon Yang, Chairman of Keppel Corporation, presented Mr Choo with the gift of a painting by Singapore watercolourist Ong Kim Seng, who is one of Mr Choo’s favourite artists. Mrs Eileen Choo was also honoured as the Unsung Hero, that woman behind the successful man and pi l lar of strength. Mrs

Choo was given a specially crafted bowl named Deep Blue by Singapore ceramist Iskander Jalil.

Summing up the theme of the evening, a specially designed book by Group Corporate Communications entitled Mettle. Mission. Mint, the only one of its kind with every page hand printed and handstitched, w a s p r e s e n t e d t o Mr Choo by new CEO Mr Loh Chin Hua.

T h e b o o k f e a t u r e d photographs of the days of

venture, moments of trials and triumphs and lighter sides of Mr Choo many may not have seen. There are also tributes and congratulations in the book from colleagues and customers who have become Mr Choo’s good friends.

In the words of Ms Wang Look Fung, Director of Group Corporate Affairs, the photo book was “a frail attempt to capture all the Keppel moments for Mr Choo over four decades”. keppelite

Continues on page 18...

1. Mr Choo and Mrs Eileen Choo were presented with appreciation tokens by Chairman Dr Lee Boon Yang; 2. CEO Loh Chin Hua presented a specially designed photo book entitled Mission.Mettle.Mint. to Mr Choo, produced by Ms Wang Look Fung, Director of Group Corporate Affairs and Group Corporate Communications; 3. Mr Choo attributes his achievements to team effort: here with him, from left: Mr Sit Peng Sang, Director of Keppel O&M; Mr Chee Jin Kiong, Director, Group HR, Keppel Corporation; Mr Y Y Chow, COO and CEO-Designate, Keppel O&M; Mr Tong Chong Heong, SED, Keppel Corporation & CEO of Keppel O&M; Mr Teo Soon Hoe, SED of Keppel Corporation; Mr Loh Chin Hua; and Mr Ang Wee Gee, CEO of Keppel Land; 4. With comrades from Keppel O&M: from left, Mr Abu Bakar, CEO, Nakilat-Keppel O&M; Mr Chow Yew Yuen, COO & CEO-designate; Mr Michael Chia, MD (Marine and Technology); Mr Choo; Mr Burt Loh, GM (Operations), Keppel Shipyard; Mr Charles Chiam, Director, Keppel Prince Engineering; Mr Chee Jin Kiong; and Mr Ivan Lim, President, Keppel Young Leaders and GM (Operations), Keppel Shipyard; 5. Mr Choo browses through the photo book, a special collection of Keppel moments; 6. One voice in song, When you believe, by ladies from Group Corporate Communications; 7. Tugging hearts with their music – Loh Jun Hong, Keppel-supported musician (extreme left) accompanied by Keppel’s own talents, Lee Kai Zhao (centre) and Alvin Lim (on piano), both from Keppel FELS; 8. His right-hand ladies, Janna Low (left) who was Mr Choo’s PA for 20 years and Stephanie Tan (right) who has worked with him since 2004; 9. Good wishes and toast to a happy retirement

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18 Celebrating 45 years 18 Special Focus

In tribute to Mr Choo Chiau Beng

Over 42 years in service at Keppel, Mr Choo impacted and influenced many lives. Keppelites share personal anecdotes on Mr Choo, and express heartfelt appreciation to the man for his dedication, passion and leadership. Here are extracts of their tributes.

“Some people would say Keppel employed Chiau Beng and gave him great career opportunities for more than four decades. That is correct. But I see more to it . I see the relationship as that of a partnership. Chiau Beng embraced and adopted Keppel as his entrepreneurial platform throughout his working life – a platform which he nurtured and transformed beyond the l imits of corporate and national resources that he started out with. From a little

known shiprepair yard, he participated and led in its growth into a world-class leader in offshore and marine with a Group market cap of nearly $20b by the time he retired.

“Chiau Beng was a visionary in every sense of the term. He understood from a very early stage that to stay in the forefront of our business, Keppel has to maintain a technology edge. He believed in investing in technology and R&D to keep our solutions at the forefront of the pack…

“Today Keppel O&M has 30 proprietary products including a bold new design for a drillship. … Fortunately for Keppel, Chiau Beng is not one to allow success to breed complacency… even as he was poised to retire, Chiau Beng was energetically strengthening the foundation for Keppel’s

future. Over the past 42 years, Chiau Beng had on many occasions sought out and c rea ted new bus iness opportunities for Keppel beyond O&M. Keppel Energy and SPC are some of these examples.

His visionary leadership was again ref lected in the consolidation of the three shipyards – Keppel FELS, Keppel Shipyard and Keppel Singmarine under Keppel O&M in 2002. The consolidation unleashed synergies which enabled Keppel O&M to surpass what the three companies could achieve separately…

An old Keppelite told me that Chiau Beng had said ‘We’ve decided to paddle our own canoe’. This was after talks with another party fell through. Nevertheless in its first 10 years under Chiau Beng’s able leadership and with strong management support, the Keppel O&M canoe had became a big aircraft carrier!

“Throughout his career, Chiau Beng has been very focused on people and talent development… He appreciated the importance of recruiting and retaining good people to boost our human capital. He took a personal interest in meeting new hires and Keppel Young Leaders, mentoring and

inspiring many of them here and overseas. He formed the virtual Keppel College, which today runs global training programmes for the Group. Thanks to Chiau Beng’s assiduous cultivation and inspiration of young Keppelites, we have today strong and capable hands guiding and steering our diversified interests around the world.

“ A s C E O o f K e p p e l Corporation from 2009, he broadened and deepened his interests and stewardship of the Group’s diversified bus iness in te res t s . As Chairman of Keppel Land, he sharpened the company’s focus and tightened its operations at home and in the regional markets. He established Keppel Land China to concentrate on one of our most important property markets. He restructured the infrastructure business to provide critical mass and resources for this additional wing of our interests.

“On beha l f of Keppel Corporation and the Board, I thank Chiau Beng for 42 years of outstanding and distinguished service to the Group … A large measure of what Keppel is today is the result of his vision, wisdom, diligence, exceptional mix of entrepreneurial skills and ability to motivate fellow Keppelites to strive for

Dr Lee Boon Yang (left), Chairman of Keppel Corporation, presented a painting by watercolourist Ong Kim Seng to Mr Choo in appreciation for 42 years of dedication and service

...continued from page 17.

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In tribute to Mr Choo Chiau Beng

excellence despite the odds. Keppel is indebted to him for safely navigating the company through many challenging situations and crisis over the past four decades.

“We thank him for the steady pair of hands to cha r t the course . We thank him for inspiring all Keppelites with the Can-Do! spirit. We thank him for playing a major role in identifying and grooming a fellow Keppelite, Loh Chin Hua, as his successor.”

Dr Lee Boon YangChairman, Keppel Corporation

“Chiau Beng … is a man of many sterling qualities… I will just highlight three of them which are outstanding and awe-inspiring.

“The first is his academic excellence and incisive mind. He went to the UK on a Colombo Plan scholarship and graduated with first class honours in naval architecture. He won accolades from the Harvard Business School. He has the commanding ability to see the big strategic picture and at the same time pay attention to the details.

“Secondly, his leadership and accomplishments as Chairman of Keppel Land. He spearheaded the drive to

diversify our markets from Singapore to the region in countries such as China, Vietnam, Indonesia… What is remarkable is that this took place during a period of global economic slowdown and turbulence. Granted, much of the ground work took place during the years before 2009, but it was under his chairmanship that many of these projects were monetised to enhance shareholder value.

“The third quality… is his absolute dedication to one of Keppel’s core values – its untiring commitment for the welfare of its people. Here I offer you a quote from one of his interviews – ‘As the boss, when I see that something is not fair, I will voice it, so that people are fairly treated…’ His passion and concern for the employees … are deeply rooted in his fervent belief that the sustainability of the Company depends ultimately on its people.

“… Even after he retires as CEO of Keppel Corporation, I am sure that Chiau Beng, in his many roles in education, philanthropy and diplomacy will be able to help Singapore address the ‘endless dance between progress and inequality’.”

Mr edward LeeDirector, Keppel Land

“Tough man, bold vision – this best characterises Chiau Beng.

“…I have learnt many valuable lessons from the man, but what struck me most i s one part icu lar occasion when there were just the two of us having beer after a game of golf. I apologised to him for something that had occurred at work, and he said to me – ‘We have battle scars all over us. The most important thing is to learn from it.’

“I was so moved by his words. He went on to say to me, ‘I know you are going through a hard time, but this is where you pick yourself up and move forward.’

“And with his words, I was fired up. We went to new markets like Russia, Mexico and all the other places … so, thank you, Chiau Beng for your invaluable guidance.”

Mr Chow Yew YuenCOO and CEO-designate, Keppel O&M

“Mr Choo shares his vision, mission and values with those around him, inspiring them to achieve more than what they think they are capable of. He had steered Keppel through turbulent, testing times with a vision which has been embraced by Keppelites. Even after

his retirement, his values, principles and leadership will inspire us for ages to come.”

Ivan LimPresident, Keppel Young Leaders

“It has been said that Leadership is action, not position. I think that this best describes Mr Choo, as he lmsman of the Keppel Group. He was a visionary and passionate CEO. As a boss, he was nurturing and strikingly down-to-earth.

“Mr Choo no t on l y encouraged his team and younger persons like myself to think big and excel, he also made sure that we had the opportunities to stretch and grow.

“As a mentor, he preferred to share his life experiences and challenges, rather than fill us with his victories and vast achievements. And because he led by example, we somehow understood that we too, could achieve our dreams, as long as we believed and worked hard to pursue them.”

Ivana ChuaSenior Manager, Group Corporate Communications,Keppel Corporation



Imagine a world where models of new oil rig designs can be printed and tested quickly and inexpensively, design decisions can be made immediately and design iterations can be reproduced with rapid accuracy.

This may well become a reality in the offshore and marine industry as three-dimensional (3D) printing technology continues to evolve. It was one of many potent ia l app l i ca t ions presented at the 28th Chua Chor Teck Memorial Lecture by Professor Chua Chee Kai, Chair of the School of Mechanical and Aerospace Engineering and Director of Nanyang Technological U n i v e r s i t y A d d i t i v e Manufacturing Centre at Singapore Polytechnic on 8 January 2014.

3D printing, also known as Additive Manufacturing, i s w i d e l y t o u t e d a s revolutionary as it allows for the manufacturing of complex products with unprecedented ease and versatility. Working from a digital file, 3D printers build in a layer-by-layer fashion to form a 3D product.

Addressing over 200 people, Professor Chua noted that even as 3D Printing has massive potential to become a game-changer in multiple indust r ies – inc lud ing

a new realm of possibilities

the offshore and marine industry – there are still many challenges to overcome before it truly becomes a disruptive technology.

Established in 1986 and held annually, the Chua Chor Teck Memorial Lecture focuses on offshore and marine related topics and has benefited thousands of industry professionals and students. The lecture series is held in honour of the pioneering spirit of the late Mr Chua Chor Teck, who was formerly MD of Keppel Shipyard. keppelite

The 28th Chua Chor Teck Memorial Lecture speaker Professor Chua Chee Kai, Chair of the School of Mechanical and Aerospace Engineering and Director of Nanyang Technological University Additive Manufacturing Centre, and moderator Mr Charles Foo, Director/Advisor of KOMtech, open drink bottles using a 3D-printed bottle opener

A stimulating discussion on the benefits, potential and challenges of 3D printing took place at the 28th Chua Chor Teck Memorial Lecture




Designed and built by Keppel FELS, Seafox 5 is one of the world’s largest self-propelled installation jackups. Keppel FELS owns the vessel together with the Seafox Group.

On 13 December 2013, it successfully completed the installation of all 80 monopiles and transition pieces for the Aarsleff Bilfinger Berger Joint Venture (ABJV) at the DanTysk Offshore Wind Farm, located in the German sector of the North Sea.

Mr Keesjan Cordia, MD of Workfox BV/Ltd and Manager of Seafox 5, said, “Seafox 5

Propelling offshore wind

has demonstrated its ability to perform as initially designed without any safety issues due to the reliability of our offshore crew and proven operational expertise.”

Mr Dirk van der Lely, Chairman of Seafox Group, said, “I am very glad and proud that the vessel’s design has proven its capabilities. Our operations and ship crew have been exce l lent in operat ing the unit with minimum downtime in challenging conditions. We would also like to thank Keppel for supporting us in resolving technical issues.” keppelite

Seafox 5 successfully completed all its foundations installation work and the ABJV project team recorded 980 working days without lost-time injuries on the project

Alumni affair

Celebrating Mr Chua Chor Teck’s legacy as the ‘most illustrious son of Keppel’, about 40 members of Keppel Offshore & Marine (Keppel O&M) Alumni mingled with Keppel senior management over tea before attending the Chua Chor Teck Memorial Lecture, an annual fixture on the Alumni calendar.

Mr Loh Chin Hua, CEO of Keppel Corporation and Chairman of Keppel O&M, chatting with Keppel O&M Alumni members

Mr Tong Chong Heong (right), CEO of Keppel O&M, catches up with old friends

Mr Chow Yew Yuen, COO and CEO-designate of Keppel O&M, chatting with Mr David Chin (left), Chairman of the Keppel O&M Alumni



Baku Shipyard completed its first project, the newbuilding of a 50-tonne bollard pull azimuth stern drive tug for SOCAR Shipping, on 19 December 2013.

The grand opening of the shipyard took place in September 2013 and was officiated by the Azerbaijan’s President Ilham Aliyevm.

SOCAR Sh ipp ing i s a subsidiary of the State Oil Company of Azerbaijan Republic (SOCAR), which has a 65% share in the shipyard. The new tug is expected to be used to support Baku’s new port and its operations.

new tug for BakuAs the Shah Deniz gas field off the coast of Azerbaijan in the Caspian Sea enters its second stage of development, activity in Baku Shipyard is expected to ramp up to support the country’s growing oil and gas sector.

The shipyard had been awarded cont rac t s by SOCAR Shipping to build five crew boats. To be built to a design jointly developed by Keppel Singmarine and Shiptech, the crew boats will be well-suited to operate in the harsh environment of the Caspian Sea. keppelite

The 50-tonne bollard pull azimuth stern drive tug, SOCAR-1, is Baku Shipyard’s first delivery

Keppel Singmarine and Gaztransport & Technigaz (GTT) signed a Technical Assistance and License Agreement on 8 January 2014 for the design and construction of Liquefied

Winning partnershipNatural Gas (LNG) carriers us ing GTT’s membrane containment systems. GTT is a leading global company in the design of membrane containment

s y s t ems fo r ma r i t ime transportation and storage of LNG. Keppel Singmarine is currently the only shipyard in Singapore with a license for GTT’s design.

Mr Hoe Eng Hock, MD of Keppel Singmarine, said, “This win-win partnership allows us to incorporate GTT’s innovative solutions in our design and building of LNG carriers. With an established track record of delivering over 400 specialised vessels, we understand our industry’s need for quality and safe solutions. With

this partnership, we are confident of meeting the market requirement.”

Both companies will now be able to leverage each other’s expertise and experience in specialised shipbuilding and LNG technology to cater to global demand for optimised and high quality LNG carriers. As demand for LNG to fuel transportation grows worldwide, the need for small to medium-scale LNG carriers and bunker ships is also expected to rise. keppeliteMr Philippe Berterottière, Chairman and CEO of Gaztransport & Technigaz (front row, third

from left) and Mr Hoe Eng Hock, MD of Keppel Singmarine (front row, fourth from right), exchange a firm handshake to signal the start of a winning partnership





Spurring Innovations

Inspirations from outside the box at Keppel Land, Thinking unboxed led to a simple and safe solution borrowed from the motor industry.

W h i l e p l a n n i n g t h e construct ion of Ocean Financial Centre Phase Two, which includes a seven-storey carpark and a retail annexe, the Keppel Land team, together with appointed c o n t r a c t o r O b a y a s h i Corporation, encountered a towering challenge.

A tower crane, with its 40-metre radius, needed to be maneuvered around a compact space of less than 18 metres. This had to be done safely without affecting the fully operational office tower at Ocean Financial Centre. Moreover, the boom of the crane had to move beyond a cooling tower about eight metres above the crane operator’s cabin, with no clear line of sight for the operator.

Drawing inspiration from the sensors commonly found in cars, the Keppel and Obayashi teams devised an

innovative tool to overcome the challenge.

Proximity sensors with wireless transmitters were secured at equal intervals on each side of the crane’s boom, alerting the operator whenever the boom came within two metres of any structure.

Apart from eliminating blind spots during operation of the crane, the sensors also functioned as an extra safety mechanism in the event of any miscommunication

between the operator and signalman. Ocean Financial Centre Phase Two was completed in September 2013 wi th zero c rane accidents.

Jase Chua, Manager of Workplace Safety Health at Keppel Land, said, “At Keppel, we believe that it is important to walk the safety talk, which is why we challenge both ourselves and our contractors to make our worksites safer for all.”

Concurring, Anthony D

Valiyaveettil, Safety Manager at Obayashi, said, “As a team, we have proven that a simple innovation, such as the proximity sensors, can go a long way in preventing accidents. We are glad to have like-minded partners such as Keppel Land, who constantly advocate and encourage innovation and safety at the worksite.”

For the project, the team received the Gold award at the Keppel Group Safety Convention on 7 October 2013. keppelite

Thinking out of the box, the Keppel Land team demonstrated that simple innovations such as proximity sensors can contribute to a safer working environment

24 Empowering Lives

Keppelite I January 2014 Keppelite I January 2014

24 Empowering Lives

Committed to nurturing staff to deliver sterl ing s e r v i c e , K e p p e l L a n d Hospitality Management has collaborated with SHATEC, the international hotel and

Stellar servicetourism school in Singapore, to enhance their skills with more training.

Eleven individuals from Keppel Land’s various overseas

properties participated in the pilot run of a training programme from 6 to 17 January 2014 in Singapore. The participants underwent a selection process rigorous selection process for the programme, which aims to sharpen skil ls in the areas of food & beverage, food production, front office management and housekeeping.

Armed with newfound knowledge and enhanced skillsets, the participants returned to their respective workplaces with renewed

vigour and have also shared the lessons learnt with their colleagues.

Mr Khoo Peck Khoon, GM of Keppel Land Hospitality Management, shared, “We constantly seek to improve ourselves when it comes to delivering unique and memorable experiences for our members and guests. This partnership with SHATEC will spur us in our journey for excellence by allowing our employees to realise their full potential through the highly customised training programme.” keppelite

Gem of experienceKeppel Offshore & Marine’s Human Resources team invited Mr Choo Chiau Beng, who recently retired from Keppel Group, to share his wisdom at a Lunch & Learn session on 19 December 2013. Speaking on “Leaders and Leadership,” Mr Choo shared insights gleaned from his extensive experience that were especially valuable for the younger Keppelites in the audience. Keppelite shares nuggets of wisdom from his talk.

ON LeADeRSHIp TRAITS:“ P a s s i o n , t r u s t a n d achievement are not only about your personal traits, it is about how you are

perceived so that people will follow you. Your people should see that you have both feet planted firmly on the ground and your arms stretching for the sky.”

ON IDeNTIFYING AND GROOMING LeADeRS:“A different boss, a new role, or a completely unforeseen event can bring about the best in people...If you refuse to adjust to unfamil iar circumstances and choose instead to stay in a cocoon, you might as well stay at home.”

ON KeppeL’S FUTURe SUCCeSS:“The key to success is that

improvement is a never-ending process. You can’t stand still – our competitors certainly won’t. To succeed,

in Keppel or anywhere else, you will have to continually learn, re-learn and then learn some more.” keppelite

Mr Choo Chiau Beng (right), former Chairman of Keppel O&M and former CEO of Keppel Corporation, engaging Keppelites at a Lunch and Learn session on 19 December 2013. Mr Chee Jin Kiong (left), ED, HR of Keppel O&M faciliated the Question & Answer session

Staff from Keppel Land’s various overseas hospitality properties underwent the pilot run of a training programme held in conjunction with SHATEC

Empowering Lives 25


Keppelites Abroad

Fairuz Aledroos took on the challenge of joining N-KOM’s Commercial and Marketing team despite coming from a Biomedical Science background

Bright, resourceful and personable, Fairuz Aledroos could have taken up a comfortable off ice job in Singapore when she graduated in Biomedical Sc ience f rom Nat iona l University of Singapore in 2011. Instead, she planted herself in a newly-opened shipyard in Qatar, far outside her comfort zone and away from her family and friends.

Fairuz, Senior Executive of Commercial and Marketing at N-KOM, shared, “In my NUS days, I participated in a student exchange programme to Mexico. That experience opened my eyes to independent living and different cultures, as well as fuelled my interest to work overseas. As such, when I saw that Keppel had an opening in Qatar, I went for it.

“P r i o r t o wo rk i ng a t N-KOM, I had never been to the Middle East region. In addition, I did not have any background in the offshore and marine industry, having graduated in Biomedical Sciences. Nonetheless, I was not deterred from applying

Desert flowerThe dainty Fairuz aledroos, from nakilat-Keppel Offshore & Marine (n-KOM), blooms in tough climates.

for the job. I believed that if I had a positive work attitude and pushed myself to quickly learn as much as possible about the region and industry, I could be an effective member of the work team. It has been challenging, but well worth the effort.”

Enabling Fairuz to more readily scale the learning curve was an intensive two weeks training stint at Keppel Shipyard before her assignment in N-KOM. Fairuz said, “I am grateful to my colleagues at Keppel Shipyard. They patiently imparted the ski l ls and knowledge which were very helpful to my work in Qatar.”

At N-KOM, Fairuz’s duties i n c l u d e c o o rd i n a t i n g N-KOM’s public relations, corporate communications, business development and market research efforts.

Fairuz elaborates, “N-KOM was officially opened in November 2010. When I joined the yard, it was still in the midst of establishing its systems and practices. As such, in the last three

years, I learnt not only how to execute my duties, but also how to build up the systems and network that would enable my work.

“I have enjoyed my three yea r s a t N -KOM. The N-KOM team is determined and resourceful, and I find it invigorating to work amongst them. Though N-KOM is a relatively young operation, we envisioned it to be the choice yard of the Middle East region, and

have taken systematic steps to ensure efficient, quality services.

The highs and lows of working at N-KOM in Qatar have definitely made Fairuz hardier and more resilient. “I have come to believe that no challenge is too tough for those who are innovative and resourceful. With the r ight att i tude, we can flourish in all environments.” keppelite

26 Empowering Lives

Keppelite I January 2014 Keppelite I January 2014

1 2

At Keppel Offshore & Marine: 1 & 2. Playing to the theme of Mexican Fiesta, Keppelites at Keppel FELS celebrated their record delivery of 21 rigs on 23 December 2013 with colourful dances, games and delicious Mexican food; 3. Limbo rock at Keppel Shipyard during the year end party on 31 December 2013; 4. Keppelites at Keppel Singmarine were all smiles at their year end party on 24 December 2013At Keppel Land: 5. (Extreme left) Mr Choo Chin Teck, Director of Corporate Services at Keppel Land, enjoying a light-hearted moment at Keppel Land’s Christmas celebration on 24 December 2013; 6 & 7. Keppel Land staff were naughty and nice at their Christmas partyAt Keppel Telecommunications & Transportation: 8: At the Keppel T&T office, Tay Boon Yan, Safety & Security Officer, and Stephanie Lim, Executive, Compensation & Benefits, led festivities as Santa and Santarina; 9 & 10: It was “Back to School” for Keppelites in Keppel T&T during their Dinner & Dance held on 19 October 2013 at Orchard Hotel

5 6

9 10

Making merryKeppelites across the Group celebrated the end of a fruitful year and looked ahead to 2014 with a slew of celebrations. From donning Santa hats and Mexican sombreros to dusting off old school uniforms, Keppelites enjoyed bonding with colleagues.

Empowering Lives 27


At Keppel Offshore & Marine: 1 & 2. Playing to the theme of Mexican Fiesta, Keppelites at Keppel FELS celebrated their record delivery of 21 rigs on 23 December 2013 with colourful dances, games and delicious Mexican food; 3. Limbo rock at Keppel Shipyard during the year end party on 31 December 2013; 4. Keppelites at Keppel Singmarine were all smiles at their year end party on 24 December 2013At Keppel Land: 5. (Extreme left) Mr Choo Chin Teck, Director of Corporate Services at Keppel Land, enjoying a light-hearted moment at Keppel Land’s Christmas celebration on 24 December 2013; 6 & 7. Keppel Land staff were naughty and nice at their Christmas partyAt Keppel Telecommunications & Transportation: 8: At the Keppel T&T office, Tay Boon Yan, Safety & Security Officer, and Stephanie Lim, Executive, Compensation & Benefits, led festivities as Santa and Santarina; 9 & 10: It was “Back to School” for Keppelites in Keppel T&T during their Dinner & Dance held on 19 October 2013 at Orchard Hotel

Making merryKeppelites across the Group celebrated the end of a fruitful year and looked ahead to 2014 with a slew of celebrations. From donning Santa hats and Mexican sombreros to dusting off old school uniforms, Keppelites enjoyed bonding with colleagues.

3 4

7 8

28 nurturing Communities



Spreading festive cheer Keppelites demonstrate our commitment to nurturing communities wherever we operate with their spirit of giving in China and Vietnam.

VOLUNTeeRING IN VIeTNAMVolunteers from Sedona Suites Ho Chi Minh City made their annual trip to Nam Hung Rosa Orphanage School in Hoc Mon District, which is about one hour’s drive from the city, bringing with them te lev i s ions , c lothes, stat ionery and food items donated by residents and staff of the development.

Ms Rose Nguyen, Sales and Marketing Manager at Sedona Suites Ho Chi Minh City, said, “Activities like these make the Christmas season really meaningful. It was truly heartwarming to see the children’s faces light

up with joy as they received the items.”

At Sedona Suites in Hanoi, volunteers organised a bazaar to raise funds for various charit ies in the region. Attracting a strong turnout of over 1,300 residents and members of the public, the bazaar raised over VND127.5 million (about $7,650).

Fifteen volunteers reached out to residents of Mother La Vang Home and Phan Sinh Home in Dong Nai province, where Keppe l Land i s developing a waterfront city township project. Besides contributing time and effort, volunteers roped in friends

Staff and residents of Sedona Suites Ho Chi Minh City shared some Christmas cheer with children at Nam Hung Rosa Orphanage School in Hoc Mon District

Volunteers enjoy a day with residents of Mother La Vang Home and Phan Sinh Home in Dong Nai province

and family to raise over VND 60 mil l ion (about $3,000) in funds and basic necessities.

This is the fifth year that Keppel Land is supporting these two homes, which p r o v i d e s h e l t e r f o r underprivileged children, orphans and elderly with special needs.

Ms Nguyen Th i Tham, As s i s t an t Manage r o f Accounts and F inance, shared, “We hope that through our humble efforts, children and elderly with special needs will have a joyful spring and a happy new year ahead. Giving back to the community is

an important part of our company culture and we will continue our efforts to help those in need.”

BRINGING CHeeR IN CHINAPutting on an entertaining show, staff from Keppel Corporation’s Beijing and Tianjin Representative Offices delighted their audience at Tianjin Prince of Peace Children’s Home & Children Rehabilitation Centre during a visit on 20 December 2013.

The children also eagerly took to the stage to showcase their performance, for which they had practised all month, captivating the audience

nurturing Communities 29


Staff from Keppel Land China’s Tianjin office brought smiles to the children from the Xiangyu Autism Mutual Aid Association

Volunteers from Keppel Corporation’s Beijing and Tianjin Representative Offices spent quality time with children in the season of giving

Fuel for thought

Don’t judge each day

by the harvest that you

reap, but by the seeds

that you plant.

Robert Louis Stevenson,

author and poet

with their sincerity and vivacity.

The joyfu l ce lebrat ion wrapped up with a Christmas feast for the children, who also received donations of daily necessities from the Keppelites. Established in 2003, the Tianjin Prince of Peace Children’s Home and Children Rehabilitation Centre provides shelter, education and medical treatment for orphans, children with special needs and children with congenital diseases.

At Xiangyu Autism Mutual Aid Association, Keppelites from Keppel Land China’s

T i an j i n o f f i c e a r r i v ed bearing gifts during a visit on 18 December 2013.

Much to the delight of the children, the volunteers also surprised them with a cake to celebrate the birthday of one of the children.

Han Jinna, Specialist of Sales and Marketing, Keppel Land China, said, “Through such regular act iv i t ies, we hope to contribute to the welfare, learning and development of children with autism. In addition, we hope to bring about greater understanding and awareness of the condition.” keppelite



Lion MenAs part of its longstanding support of the Singapore arts scene, Keppel Land has co-sponsored the film The Lion Men by Singaporean director Jack Neo.

Part one of the film will premiere in theatres on 30 January 2014 and part two in March 2014. In part two, audiences will catch scenes f i lmed in Keppel Land’s 8 Park Avenue project in Shanghai. keppelite

Synopsis

The Lion Men follows the rivalry between two lion dance troupes. Shi Shen (Tosh Zhang) is the top performer in the Tiger Crane Lion Dance Association, but feels restricted by Master He’s (Chen Tianwen) traditional mindset. He decides to take a group of disciples and forms his own lion dance troupe, which fuses

hip hop dancing with lion dance movements.

A m a j o r l i o n d a n c e competition is coming up and Mikey (Wang Weiliang) is appointed to be Shi Shen’s successor. However, he has a huge fear of heights and the situation worsens when both Mikey and Shi Shen fall for Master He’s daughter (Eva Cheng).

Keppel Land is a co-sponsor of the movie The Lion Men by Singaporean director Jack Neo

In recognition of Caspian S h i p y a r d C o m p a n y ’s (CSC) contr ibut ions to the Azerbaijan Diplomatic Academy (ADA), a student lounge at the education institution was named after Keppel Offshore & Marine.

CSC, Keppel’s joint venture yard in Azerbaijan, donated 175,000 Azerbaijani manats ($275,000) towards the ADA endowment fund in 2012.

In a note to Mr Chandru Rajwani, President of CSC, Mr Natig Hajiyev, President of ADA Foundation, penned, “The room named after

Heartfelt thanks from azerbaijanKeppel Offshore & Marine now serves as the writing centre of ADA. It is one of the liveliest and most productive spots at our ADA campus. Your support plays an important role in the making of the best education institution in Azerbaijan.”

CSC’s close ties with ADA have enabled the yard to send its employees for further training at the university. These mutually beneficial ties will further strengthen when Mr Rajwani joins ADA’s School of Business Advisory Board in early 2014. keppelite

Students from the Azerbaijan Diplomatic Academy expressing their appreciation for Caspian Shipyard Company’s contributions to enhancing facilities in their institution





Improving the odds

Swabbing to save lives Two minutes and a cheek swab – that is all it takes to become a potential bone marrow donor.

To raise awareness for and debunk common mi sconcept ions about donating bone marrow, Keppel collaborated with the Bone Marrow Donor Programme (BMDP) to organise a Bone Marrow Awareness Drive. BMDP is a non-profit organisation that manages Singapore’s only register of volunteer bone marrow donors.

The drive took place at the Group’s various offices from 13-16 January 2014. Keppelites rallied to the cause, with more than 80%

of the participants registering to be bone marrow donors. This is especially heartening since most drives normally result in a 30% registration rate.

Alicia Chua, HR Executive of Keppel Logistics, and a coord ina to r o f th i s drive, shared, “The talks conducted were effective in clarifying myths about bone marrow donation. It is very encouraging to see many participants register to be potential bone marrow donors after the informative sessions with BMDP.” keppelite

Participants swab their cheeks to test and establish their tissue type as part of the process to becoming bone marrow donors during a Bone Marrow Awareness Drive session

Why are bone marrow donors required?E v e r y d a y, a t l e a s t s ix S ingaporeans are diagnosed with blood diseases, such as leukaemia or lymphoma, because their bone marrow is not producing the right amount of various blood cells.

Wh i l e many requ i re a transplant to survive, the odds are against them – the chance of finding a match in the general population is 1 in 20,000.

Increasing the pool of volunteer donors increases the chance of finding a match for a transplant which gives the patient a new immune system and a new lease of life.

What is required to sign up?I nd i v i dua l s mus t be between the ages of 18 to 49 and in good health. Two minutes and a simple cheek swab are needed to register as a volunteer

bone marrow donor. BMDP will only request your consent to donate marrow if your tissue type matches perfectly with that of the patient.

Is the donation process painful? How long is the recovery process?Donation is generally not painful. Bone marrow will either be harvested from the back of the donor’s pelvic bone while under general anaesthesia or in a procedure similar to blood donation. Bone marrow replaces itself completely within four to six weeks after donation. Short-term side effects of stiffness and discomfort last just 2-3 days.

How can I contribute now?Request a postal kit at http://bmdp.org/donors/sign-up/ or you may also make an online donation to BMDP. Every $150 helps to add a new fully tissue-typed donor to the register.

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Keppel FELS announced the delivery of ENSCO 121, the second ultra-premium harsh environment ENSCO 120 Series jackup rig, to Ensco plc (Ensco) on 23 December 2013. An enhanced version of Keppel’s proprietary KFELS Super A Class design, ENSCO 121 has been chartered for operations in the North Sea. Mr Wong Kok Seng, MD (Offshore) of Keppel Offshore & Marine and MD of Keppel FELS, said, “We are pleased to deliver ENSCO 121, our 18th newbuild rig for Ensco. Over the years, we have established a strong and longstanding relationship with Ensco based on mutual trust and understanding.

“We are committed to continue to support Ensco in growing its fleet and delivering all our projects for Ensco to their highest satisfaction.” Capable of operating in water depths of up to 400 feet, ENSCO 121 is the second of four rigs in the ENSCO 120 series that Keppel FELS is building for Ensco.

Mr Dan Rabun, Chairman, President and CEO of Ensco, said, “The ENSCO 120 Series rigs are the most efficient and capable rigs of their class. They are ideal for ultra-deep well programs in challenging

Super ace delivery

shelf environments, and our customers who have now seen these rigs first-hand are impressed with how well the ENSCO 120 Series responds to their needs.”

This first unit, ENSCO 120, was delivered in September 2013 and is currently operating in the North Sea. The third rig in the series, ENSCO 122, is expected to be delivered in mid-2014 and has been contracted for multi-year terms in the North Sea. The fourth rig, ENSCO 123, is expected to be delivered by Keppel FELS in 2Q 2016. keppelite

Strengthening partnership on the delivery of ENSCO 121: (L-R) Mr Aziz Merchant, ED (Engineering) of Keppel FELS, ED (Deepwater Technology) of KOMtech and ED of Deepwater Technology Group; Mr Wong Kok Seng, MD (Offshore) of Keppel O&M and MD, Keppel FELS; Mr John S. Knowlton, Senior VP – Technical of Ensco; and Mr Ron Potter, Assistant General Counsel of Ensco

An enhanced version of Keppel’s proprietary KFELS Super A Class design, ENSCO 121 has been chartered for operations in the North Sea

Tribute to service - Keppel Land China€¦ · Keppel values guide us in making the right decisions...

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Transcript of Tribute to service - Keppel Land China€¦ · Keppel values guide us in making the right decisions...