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Keppelite I July 2009

Keppel Group Newsletter

JULY 2009www.kepcorp.com/ekeppeliteeppel

MICA(P) NO. 2006/12/2008

KeppeliteMessage from the

new Chairman 4

Developments in

Tianjin Eco-City 24

Tops for

governance 27

One heartbeatfor success

One heartbeatfor success


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

EditorSay Huan Yuan

Editorial CommitteeAgnes Wu, Ang Lai Lee, Catherine Tan, Chen Xi, Cheryl Tang, Chua Ying Ying, Diana Chan, Donald Sng, Eva Ho, Faye Chiam, Geraldine Lai, Grace Chia, Ivana Chua,Jacquelyn Wong, Jeanette Pang, Lee Yin Chiin, Lin Mei Li, Lynette Chong, Lynette Goh, Mak Chui Ling, Marianne Goh, Mohamed Yusof Mohamed, Rebecca Ng, Roy Tan,Sarah Seah, Serena Toh, Teri Liew, Wong Chai Yueh, Woon Pek Yong, Vett Ramos

Contents

CO REG NO: 196800351N

eppel

SUSTAINING GROWTHMessage from the new Chairman 4

A solid first half 6

Growing business and people 8

Modest growth in challenging times 10

Focus on sustaining growth 14

$30m in semi upgrading contracts 16

Fifth ice-class vessel completed 17

Proposal to unlock value in Evergro Properties 18

One heartbeat for success 19

Addressing global water needs 20

Ushering in propitious tidings 21

Perfect reach 22

Commendations from customers 23

SPECIAL FOCUSKeppel’s interests in Tianjin Eco-City 24

Tops for governance 27

Developing Asia’s Best

Keppel FELS Baltech turns fifteen 28

Savouring Keppel Island in style 29

Win-win partnership 30

Elevating sustainability in urban living 31

Proactive risk management

People matters

Pandemic prepared 32

Friends from far and wide 34

Once a Keppelite, always a Keppelite 36

EMPOWERING LIVESGeneration of growth 38

KRC to draw more Keppelites 41

Gearing up for the big race 42

Living ties 44

Keppelites AbroadBridging two worlds 45

The games in swing 46

Bonding over bowling

NURTURING COMMUNITIESKeppel VolunteersPride on parade 47

BACK PAGENew WTE technology contract in Tianjin 48

41

19 28

Cover image: (R-L) Mr Abu Bakar, Senior GM (Operations) of Keppel Shipyard, Mr Ahmed Mahmud Yayale,Secretary to the Government of the Federal Republic of Nigeria, and Mr Dimeji Bankole, Nigeria’s Speaker ofthe House of Representatives, at the naming ceremony of FPSO Armada Perdana whose timely conversionwork is a result of the strong teamwork between Keppel Shipyard and repeat customer Bumi Armada Berhad.


Despite the ‘come what may’ attitude soredolent of many sailors’ carefree ways, the mostexperienced captains are far from blasé when itcomes to preparing for a safe offshore passage.

In fact, it may even be said, that the best seamasters are obsessive about preparing for the worstor the unexpected.

And so it is too, that corporations like ours, Keppel,must study our course and inspect all our riggingsand systems to ensure a watertight and hard-wearing ship. This way, we can be sure of a safejourney, especially if it turns out to a long one.

The level of provision and precaution that sailorstake, which some may call paranoia can beappreciated in the context of the amount of risksand uncertainties in all forms at sea, from troubledwaters to turbulent storms.

In the business world, market caprice and volatilityrival that of oceans. For Keppel, sailing in foreignwaters with operations in some 30 countriespresents a multitude of risks and challenges too.

That’s why risk management is taken very seriouslyat Keppel. To enhance our long-term operationalresilience, we have in place rigorous riskmanagement controls to protect the interests ofour shareholders.

In sailing, great pains are taken before every voyageto check and recheck the integrity of every stitchand seam on all the sails, from the giant kite tothe littlest storm jib. Every sail has a specific purposeand will be called upon in times of need; and allare judiciously cared for.

Indeed, on a well-kept ship, no floorboard shouldbe left unturned. No chafe left bald without apatch, and no bolt left unfastened. Every tiny pinand spring in the winches too is carefully takenapart, hand-cleaned and replaced.

Such maintenance and repair works take lengthsof time and effort but result in a solid ship safe forthe long haul.

The scale and stringency of continuous effortstaken by Keppel to inculcate best practices aresimilarly immense.

Like well-weathered skippers, Keppel’s Board andtop management are committed to growing theGroup’s long-term sustainability. Over the years,with their strategic steerage, the Group hasstrengthened its robust risk management systemand built a resilient and risk-centric culture rootedin consistent and prudent adherence to policiesand internal controls.

In addition, Group Risk Management develops andregularly reviews Group-wide risk-related policiesand guidelines to promote risk-based decisionmaking and ensure alignment to the Group’soverall corporate objectives.

With these measures in place, our stakeholderscan be reassured that Keppelites remain vigilantand disciplined especially through these uncertaintimes.

The threats are real. The current global economicmaelstrom has tossed up and out even the biggestof global financial institutions and privatecorporations, many of whom have been wreckedfor failing to identify treacherous risks or were ill-equipped with poor internal controls.

When the tide rises, all ships, big and small, willfloat they say. But the best prepared will be carriedaloft by well-set sails, soaring ahead of the rest.

EditorialSecuring every stitch andseam for the long haul


4 Sustaining Growth


4 Sustaining Growth

Dear Keppelites,

I joined the Keppel Boardfrom 1 May 2009 andassumed the Chairmanshipon 1 July 2009. Since joiningKeppel, I have learned muchabout our operations. Fromits humble origins forty yearsago as a ship repair yard,Keppel has grown into aSingapore conglomerateoperating in 35 countriesworldwide. Keppel’s reachextends to Brazil in SouthAmerica, Texas in the USA,numerous European andCentral European countriesas well as the Middle Eastand much of Asia and SouthEast Asia. We providecomprehensive solutions anddeliver quality productsthrough our business unitswherever we operate.

Even before joining Keppel,I have always admiredand respected Keppel forits many achievements. InDecember 2008, KeppelOffshore & Marine invitedme to the naming ceremonyfor a Jindal jackup rig,Virtue I. I was fascinatedby the breath and depthof Keppel’s proprietarytechnology and capabilitiesto produce such state-of-

Message from the new ChairmanDr Lee Boon Yang, who assumed Chairmanship in Keppel on 1 July 2009,shares his aspirations for the Group.

the-art solution to meetour valued customer’srequirements on time andaccording to budget. I sawhow Keppel had been ableto build up a strong, lastingand mutually profitablepartnership with customersaround the world.

Then in March this year,I visited Qatar as a memberof the President of theRepublic of Singapore’sdelegation. We werebriefed on how Keppel won,amidst stiff internationalcompetition, landmarkprojects for solid waste andwaste water managementw h i c h w i l l i n t ro d u c einnovative and energyefficient solutions for Qatar.I felt proud that Singaporehas a company with suchcapabilities.

In the short period sincecoming onboard, I had manyinteractions with seniormanagement and executives,young and not so young. Thekey takeaway from suchmeetings is that Keppelitesare confident, capable andrealistic. We have a goodteam at the helm. Keppelitesat all levels share a commonvision backed up by strongvalues and are deeplypassionate about whatwe do. Regardless of thechallenge, a sophisticatedsemi-submersible or awaste-to-energy plant or anaward-winning propertydevelopment, we have doneit and we are ready to domore.

At Keppel, we not onlyfocus on value creation inall our businesses, but we

also nurture talents andencourage innovations. Wehave harmonious andcooperative relations withour unions and workforce. Ina 35,000-strong Group,this is no easy feat. It musthave taken much effort anddedication of managementand workers through theyears to grow and nurturethis positive relations. Suchstrong ties amongst the rankand file will continue to servethe Group well in meetingthe challenges ahead.

People are our greatest asset.The times may be tough.The key to successfullyweathering the storm andemerging stronger, betterplaced and more profitableis good people. I amconfident that the numerousprogrammes and initiatives

We have to continue to examine our strategy goingforward and be prepared to make changes and evenreposition some businesses in order to emerge fromthis downturn in better shape and in strongerposition for the upturn.Dr Lee Boon Yang

Chairman, Keppel Corporation


Sustaining Growth 5

in the Group for executiveand leadership training,skills development andupgrading and mentorshipand R&D will ensure thatnewer Keppelites imbibe thedistinctive Keppel culture andcore values of integrity,passion and collectivestrength.

Chief Executive Officer,Choo Chiau Beng, recentlyannounced the setting upof the Keppel College.Consolidating the trainingand talent managementprogrammes Group-wide isindeed a step in the right

direction to maximise thepotential of every individualKeppelite towards enhancingbusiness productivity andcompetitive edge.

Today we are facing verydifficult market conditions.To prepare for this newbusiness climate, we have, inrecent months, made twomajor decisions. Right afterthe successful launch of theKeppel Land rights issuewhich brought in nearlyS$700 million, we sold ourstake in Singapore PetroleumCompany for a cashconsideration of nearly

S$1.47 billion. These twomeasures have certainlygiven a boost to our financialposition and put us in strongposition to weather thedifficult times.

As we deliver the orderbookin Offshore & Marine andwork hard on clinchingfresh newbuild contracts, wewill be looking to growprofit contributions from ourother key competencies.Challenging times also meanthat there will be newopportunities ahead. Ourfinancial strength puts us ina strong position to exploit

new opportunities for valuecreation and earningsaccretion to the Group andto enhance returns toshareholders.

Despite the adverse businessclimate, Keppel’s first halfresult for 2009 has beenexcellent. We posted a halfyear record of $603 million,7% more than the firstsix months of 2008. Thehalf year earnings for thisyear have surpassed thatof the whole year in 2005.

This speaks well ofManagement’s businessfocus and ability to createvalue. But there is no roomfor complacency. We haveto continue to examineour strategy going forwardand be prepared to makechanges and even repositionsome businesses in order toemerge from this downturn inbetter shape and in strongerposition for the upturn.

I am proud to join you asa Keppelite. I am confidentthat by working in unison wewill be able to write andunfold new chapters in thesuccessful and inspiring storyof Keppel.

Dr Lee Boon YangChairman

6 Sustaining Growth


The Keppel Group deliveredanother strong set of resultswith a record first halfattributable profit beforeexceptional items of$603 million and EPS of37.8 cents. AnnualisedROE was 22.1%. EVAbefore exceptional items of$452 million was $56 millionhigher than that of first half2008.

Group revenue in the secondquarter of $3,202 millionwas 21% above that of thecorresponding quarter in2008. Higher revenues werereported by Offshore &

A solid first halfKeppel posted highest PATMI recorded by the Group in a quarter.

Marine and PropertyDivisions because of highersales and percentagecompletion of contracts.

Group attributable profitbefore exceptional items of$317 million was the highestachieved in a quarter and 6%above the same quarter inthe previous year.

GROUP REVENUEFor the half year, Grouprevenue of $6,180 millionwas $1,326 million or27% above that of thecorresponding period in2008. Revenue from

Offshore & Marine Divisionof $4,377 million was 36%higher than previous year’slevel. In the first half, theDivision completed anddelivered 15 major projects.

Revenue from PropertyDivision of $547 million was7% higher. The increase wasdue to the higher percentageof physical completion forunits sold in Reflections atKeppel Bay. Revenue fromKeppel Land was lower asseveral residential projects inSingapore and overseas werecompleted in the lastfinancial year.

At the Keppel Land level,revenue was $396 millioncompared to $459 million forthe corresponding half lastyear.

Revenue from InfrastructureDivision increased by 11% to$1,223 million. Engineering,procurement and construction(EPC) revenue recognitionfrom the Doha NorthSewage Treatment Worksplant project in Qatarcontributed to the higherrevenue. This was partiallyoffset by lower revenuefrom Keppel MerlimauCo-generation Plant in

Keppel Corporation’s senior management briefed press and analysts on the Company’s performance for the first half of 2009, as well as prospects of the various business units


Sustaining Growth 7

Singapore because of lowerenergy prices.

PROFITSAt the pre-tax level, Groupprofit of $866 million was8% higher than the first halflast year with increasedcontribution from Offshore &Marine and Infrastructure,partially offset by lowercontribution from Propertyand Investments.

Offshore & Marine Divisioncontinued to deliver earningsgrowth with higher profit of$523 million, 37% above theprevious year. The increasedprofit was due to the higherrevenue and improvedoperating margins of theDivision.

Infrastructure Divisioncontinued to increase itscontribution to the Groupwith a profit of $79 million,one and half times higherthan the previous year.

Contribution from PropertyDivision of $178 million wasmarginally lower because ofthe lower profit from KeppelLand.

The decrease in profit fromInvestments was due toreduced contribution fromSingapore PetroleumCompany (SPC). Exceptionalgains of $422 millioncomprise principally profitfrom the disposal of SPCpartially offset by impairmentof non-performing assets.

1H 2009 FINANCIAL RESULTS SUMMARY FOR THE KEPPEL GROUP

Company PATMI* (S$M) %YOY EPS# (CENTS) %YOY

Keppel Corporation 602.6 7.4 37.8 7.1

Keppel Land 95.1 -15.8 8.2 -26.1

Keppel T&T 22.7 0.3 4.1 –

* Before exceptional items# Basic EPS

After taking into accountincome tax expenses andminority interests, theattributable profit toshareholders of $1,025million was $464 million or83% higher than thecorresponding period in2008. EVA after exceptionalitems was $874 million,a n i m p r o v e m e n t o f$478 million. Excludingexceptional items, attributableprofit was $603 million.

Offshore & Marine Divisionremains the largestcontributor to attributableearnings before exceptionalitems with 66%, followed byProperty Division with 13%,Investments with 12% andInfrastructure Division with9%.

PROSPECTSWe are in the midst of adownturn in the Offshore &Marine industry. But, wehave an outstandingorderbook of $7.7 billionwith deliveries up to 2012.The Division will focus onexecuting its contracts welland deliver them on time.Offshore & Marine Division

will continue to be thelargest contributor to theprofit of the Group.

The fundamentals of theindustry remain resilient inthe longer term. Explorationand production spending isexpected to increase tomeet the growth in demandfor energy and offsetdeclines in crude oil reserves.The Division will pursueopportunities in existing andnew markets and continueits investments in researchand development tostrengthen its competitiveposition and enhance itsproduct and service offerings.

Sentiments for the propertymarkets have improved inSingapore, China andVietnam. Sales of Singaporeprivate residential propertiesin the first half of this yearhave picked up and priceshave stabilised. The Groupwill review its option tolaunch new projects andre-launch existing projects inits pipeline.

Prime office rentals inSingapore have also

stabilised with an activemarket for the office leasingsegment. Sales of residentialtownship projects in Chinafor the first half of 2009 haveimproved. The Group sold1,440 units of new homes inthe first half. Sentiments inthe Vietnam market haveimproved with encouragingsales of The Estelladevelopment.

In the Infrastructure Division,the major EPC contracts areprogressing well and onschedule. The Division willhave about 38% of thewaste-to-energy capacity inSingapore with the soon-to-be completed Tuas SouthWaste-to-Energy Plant andthe acquisition of the SenokoIncineration Plant in thesecond half of this year.

The Keppel Merlimau Co-generation Plant continuesto operate efficiently andgenerate good returns forthe Group. The Divisionwill tap on its intellectualproperty in waste-to-energyand water technology tooffer sustainable eco-friendlysolutions to its customers.keppelite

8 Sustaining Growth


ENVIRONMENT REMAINSVOLATILEThe global economicsituation remained volatile inthe second quarter of 2009.United States unemploymenthit 9.5% in June, the highestin 26 years. At the sametime, there are signs ofrecovery in China, with itsgovernment increasinglyconfident of achieving a near8% growth this year.

Oil prices remain volatile.From a low of US$35 a barrelin February, it went up to overUS$70 a barrel and is nowhovering around US$60 abarrel. Singapore’s economyhas moved out of technicalrecession this past quarter;the official forecast for 2009has been revised upwardsfrom -4% to -6%. Althoughstill a contraction, it is asmaller one.

Recovery looks to be insight, although many believethings may get worse beforegetting better. What is clearis that the path to a full andsustained recovery will bechallenging.

SUSTAINING OURPERFORMANCEAgainst this backdrop, I amhappy to report that Keppel

Commitment to business andpeople developmentAgainst the backdrop of a volatile environment, CEO Mr Choo Chiau Bengannounced Keppel Corporation’s solid performance for the first six monthsof this year.

Corporation has turned in yetanother solid performancethis past quarter. PATMI for2Q 2009 grew 6% over2Q 2008 to $318 million.This brings 1H 2009 PATMIto $603 million, a growth of7% over the same periodlast year.

EPS grew by 7% to37.8 cents. We will be payingout an interim dividend of

15 cents per share, anincrease of 7% on last year.

STRENGTHENING OURPOSITIONTo build on our performance,we are relentlessly sharpeningour competitive edge. Ourbusinesses are focused ondelivery excellence andproject execution, so thatwe continue to producetop quality products and

solutions for our customersand partners. The sale ofour stake in SingaporePetroleum Company toPetroChina was part of ourstrategic exercise to furtherfocus on our businesses.Keppel Land has alsosuccessfully completed itsrights issue.

Both these moves, resultingin $1.8 billion for the Group,

CEO Mr Choo Chiau Beng expressed confidence that Keppel’s continued emphasis on, and investment in R&D to build our technologyleadership will enable us to ride the economic cycles well


Sustaining Growth 9

have strengthened ourposition considerably duringthis difficult period, giving usgood room to seize valuecreation opportunities.

In June, Keppel transferredits nascent SustainableDevelopment & Livingbusiness to SingBridgeInternational (SingBridge), anewly formed companywholly-owned by TemasekHoldings. SingBridge willbenefit from the attention ofits Chairman, Mr Lim CheeOnn and its CEO, Mr KoKheng Hwa. SingBridge willbe well placed to focus onsustainable developmentprojects with long gestation.

This will leave Keppel,especially in these unchartedtimes, to focus on andgrow its businesses andoperations. We will continueto participate in sustainabledevelopment projectsthrough our environmentalengineering and propertyarms. In this regard, weshall continue to lead theSingapore consortium inthe development of the

Sino-Singapore Tianjin Eco-City, which I will elaboratelater.

For Offshore & Marine, therewere no newbuild orders thispast quarter. With ourorderbook of $7.7 billionextending into 2012, ourtask at hand is to ensurethat existing orders areexecuted well, on time andon budget.

The long-term fundamentalsfor the offshore and marineindustry remain intact. Weare confident that with ourcontinued emphasis on andinvestment in R&D to buildour technology leadership,we will be able to ride thecycles well.

For property, in Singapore,residential sales have startedmoving again and thedecline in prime commercialrentals has slowed. InVietnam, there are signs thatthe market is recovering. InChina, with governmentstimulus and easing of credittaking effect, transactionvolumes have surged.

Urban property prices havealso risen in June, the firsttime in six months. Thesepositive signs are reflectedin the healthy sales ofresidential units in ourtownship projects. In order tomaximise synergy and extractoptimal value from ourproperty portfolio in China,Keppel Land has justannounced the proposeddelisting of Evergro.

At this point, let me givean update on the Sino-Singapore Tianjin Eco-Cityproject between Singaporeand China. Since its officialg ro u n d b re a k i n g l a s tSeptember, there has beengood progress in the TianjinEco-City. Our joint venturecompany with the Chinesehas reported a projectedtotal investment of overRMB40 billion from morethan 10 major regionaldevelopers.

This strategic project is alsoa platform for our Propertyand Infrastructure Divisions.We have recently announcedour development plan forKeppel’s own 36.8-ha sitein the Start-Up Area. Workon Phase 1 of the site isexpected to start in thecoming months.

O u r e n v i r o n m e n t a lengineering arm, KeppelIntegrated Engineering(KIE), also recently secured a$22.3 million contract toprovide waste-to-energytechnology to a plant servingthe Tianjin Binhai New Area,which includes the Eco-City.

W i t h e n v i r o n m e n t a lpollution and water scarcitybecoming global concerns,K I E i s a l s o p u r s u i n gopportunities to offer waste-to-energy and water reusetechnologies and solutions toother regions in China, quiteapart from those in Europe,the Middle East and LatinAmerica.

COMMITMENT TOPEOPLE DEVELOPMENTAmidst th i s economicuncertainty, our people,or Keppel i tes as weca l l them, remain theCompany’s most valuableasset. As part of peopledeve lopment and toprepare ourse lves forthe upturn, we havecontinued to invest in skillsupgrading and training,supported by thegovernment’s incentives.

We are also consolidating theGroup’s programmes forexecutive and leadershipdevelopment into a newentity – the Keppel College.At the same time, we arerationalising our humancapital to maximise thepotential of every Keppeliteand to continue enhancingproductivity in all ourbusinesses.

While the global economicl a n d s c a p e r e m a i n schallenging, Keppel aims tocontinue to grow shareholdervalue, riding on the collectivestrengths of our businesses,our people and our robustfinancial position. keppelite

To build on our performance,we are relentlessly sharpening ourcompetitive edge. Our businesses arefocused on delivery excellence andproject execution, making sure thatwe continue to produce top qualityproducts and solutions for ourcustomers and partners.Mr Choo Chiau BengCEO, Keppel Corporation

10 Sustaining Growth


FINANCIALACHIEVEMENTS ANDHIGHLIGHTSWe delivered a strongquarter with net earnings of$318 million, up 6% from thesame period last year. This isthe highest PATMI recordedby the Group in a quarter.

Consistent earnings growth amidstchallenging timesSenior Executive Director and Group Finance Director Mr Teo Soon Hoe sharedupdates on the performance of Keppel’s business units.

Senior Executive Director and Group Finance Director Mr Teo Soon Hoe announced record earnings in 1H 2009, and an increased interimdividend of 15 cents per share

This brought our earningsto a half year record of$603 million, 7% more thanthe first half of 2008.Including the gain on saleof Singapore PetroleumCompany (SPC), our earningsfor 1H 2009 have exceeded$1 billion.

Consequently, EPS grew at thesame percentage of 7% to38 cents. Our annualisedROE was 22.1%, and EVAincreased to $874 million. Freecash flow was sustained above$1 billion for the half year,improving further our net cashposition from 4% to 16%.

With the record earnings in1H 2009, we are pleased todeclare an increased interimdividend of 15 cents pershare, up from 14 cents inthe prior year.

REVENUE AND PROFITPERFORMANCESRevenue increased by27% to $6.2 billion. BothEBITDA and operating profitimproved by 28%. Growth inpretax profit and PATMI wereat a lower percentage due toreduced contribution fromassociated company, SPC.

All segments showedimprovement in revenue,resulting in 27% higherGroup revenue over thecorresponding period lastyear. The main contributorof the increase, Offshore& Marine Division, grewby 36% as compared to1H 2008.

Property recorded slightlyhigher revenue mainly due tomore contribution fromKeppel Bay.

Infrastructure Division alsomade good progress in thefirst half, with an 11%growth largely attributed tothe Doha North SewageTreatment Plant project inQatar.


Sustaining Growth 11

In just six months, Offshore& Marine recorded half abillion dollars profit beforetaxation, representing 60%of Group’s total pretaxearnings. This is attributed toboth higher revenue andbetter margins on itsorderbook.

Infrastructure increased itspretax profits in 1H 2009by one and a half timesdue to better performanceb y K e p p e l M e r l i m a uCo-generation Plant andcontribution from the twoQatar projects.

Investments showed adecline in profits before taxdue to lower share of profitsfrom associated companies.

Offshore & Marine’s PATMIincreased by 37% ascompared to 1H 2008,while the Property Divisionmaintained its PATMI atthe same level. Infrastructurehas more than doubled itsPATMI for the half yearwith higher contributionfrom both Keppel Energyand Keppel IntegratedEngineering.

CONSISTENT EARNINGSGROWTHThis is the first time thatGroup PATMI has surpassed$300 million in a quarter.

The half year earnings forthis year have exceeded thatof whole year in 2005.

Earnings for the first half of this year have exceeded that of the whole year of 2005

Continues on page 12...



As a result, EPS for this quarterof 20 cents has brought our1H 2009 earnings to a recordof nearly 38 cents per share.

For the past two years,we achieved return onequity of above 20%. For1H 2009, our annualisedROE is 22.1%. In line withour increased earnings,we are rewarding ourshareholders with a higherinterim dividend of 15 cents,as compared to 14 centslast year.

HEALTHY FREE CASHFLOWNet cash used in operating

activities for the half yearwas $296 million. This wasmainly due to increase inour working capital for theperiod.

Net cash from investingactivities was $1.3 billion,as a result of dividend incomeas well as divestmentproceeds from SPC of$1.5 billion. The Groupspent $208 million onoperational capex, anddevelopment of ourinvestment buildings.

The resultant free cash flowwas still a robust $1 billionfor the first half year of 2009.

BUSINESS REVIEW &OUTLOOK

Offshore & MarineAccording to the InternationalEnergy Agency, world energydemand is expanding by45% between now and2030. Crude oil accounts forabout a third of the overallrise.

To meet this demand growthand offset decline, 64 millionof barrels per day of grosscapacity needs to beinstalled between now and2030, which is six times thecurrent capacity of SaudiArabia.

The successful deliveriesmade by Offshore & Marinein the first half of this yearare testament to theDivision’s commitment tofulfill customers’ needs forquality and timeliness. Wewill also have a busy secondhalf with another 38deliveries.

Our track record in thedesign and construction ofdrilling units has strengthenedour value propositionsto operators. With theseproprietary designs, theDivision can furtherdemonstrate its versatility tooffer a variety of products to

Keppel Land achieved strong sales of its township homes such as Central Park City in Wuxi, China, in the first half of 2009

...continued from page 11.



suit diverse offshoreenvironments worldwide.

PropertySentiments in the Singaporeproperty market haveimproved in the secondquarter. Sales volume forresidential properties hasincreased and prices havefirmed. Rental rate has alsostabilised.

The government stimuluspackage in China has takeneffect and has eased thecredit crunch and housingwoes. The revived interest isseeing more units beingsold by the Property Divisionfor its China residential

development in 1H 2009.Similarly, Vietnam’s housingmarket situation received aboost showing good signs ofrecovery.

Earlier this month, we haveannounced the proposedvoluntary delisting of Evergro.By combining the operationalexpertise, industry knowledgeand extensive networksof both companies, theDivision will be in an evenstronger position to captureopportunities and growth inChina.

Evergro shareholders canalso make use of thisopportunity to participate in

the future growth ofKeppel Land if they opt toreceive new Keppel Landshares in exchange for theirEvergro shares.

InfrastructureOur Design-Build-Own-Operate Singapore fifthincineration plant at TuasSouth is also scheduled tocommence operations in thesecond half of this year.

We expect to complete thetrade sale of the SenokoIncineration Plant (SIP) in thesecond half this year. SIP willinitially be injected into aprivate Business Trust wholly-owned by the Group.

The two plants in Singaporewill treat 2,900 tonnes ofsolid waste a day andproduce about 54 MW ofgreen energy.

GROUP OUTLOOKAt the interim of this verychallenging year, we havemanaged to produce amodest growth in ouroperating results.

We intend to continuefocusing on our execution tobe the global leader in thedesign and construction ofdrilling rigs as well as theleading provider of a suite ofcomprehensive environmentalsolutions. keppelite

The first truckload of trash arriving at Keppel Seghers Tuas Waste-to-Energy Plant, which is scheduled to commence operations in the second half of this year



ON OFFSHORE & MARINECCB: We are in a cyclicaldownturn of the offshore &marine industry. Our peopleare working very hard, allover the world, to ensurethat we get new orders atgood prices and at profitablerates. We are cautiouslyconfident that we will getsome new orders.

Local content is veryimportant in Brazil and we

Focus on sustaining growthKeppelite highlights questions and answers at the 1H 2009 results briefing.

are virtually the only yardin Brazil able to fulfillthe requirement of thegovernment.

We built the P-52 with avery large local content, theP-51 semisubmersible witheven larger local contentand P-56 which we arebuilding now is built entirelyin Brazil. So, our yard inBrazil is very well-placedbecause it has a proven

track record that it candeliver its projects.

We have also done FPSOprojects in Singapore andin Brazil, for Petrobrasand Petrobras’ contractors.In fact, Keppel Shipyardprobably has the mostinvolvement in FPSOs thatare currently operating inBrazil. So we think that weare in a good positionto win more Brazilian

contracts. Exactly how muchis speculation.

In our strategy of “NearMarket, Near Customer” wemust be aware that, for theoil and gas business,countries want to keep workwithin their own boundaries,their own territories, and wemust respect and worktowards that.

That is why we have yards invarious countries. We havetwo yards in the Caspianregion, in Kazakhstan andAzerbaijan, which we hopewill also be able to capturesome business there.

As the market shifts,demand shifts. Everybodywill go after whatever is left.So we expect competition.We are paranoid aboutcompetition. We will seehow we can fend off thecompetition as much as wecan. That is the name of thegame.

ON WTORRECCB: I think there wasspeculation made on ouracquisition of the WTorre SAfacility in Rio Grande in thesouth of Brazil. We havetalked but if it is not earningsaccretive, we do not see a lotof reasons to put cash intothat yard.Analysts and fund managers fielded questions on Keppel’s results and prospects for the future



We need not own the yardbecause under the rules,whoever wins the nextproject for Petrobras on theeight FPSOs, will be able touse the yard. So we are notin any hurry to do any deals.

ON TIANJIN ECO-CITYCCB: We are very optimisticabout the long-termpotential profitability ofthis project. Tianjin is only28 minutes from Beijing viatrain and it is another 20minutes from the Eco-Citysite. It is a very convenientlocation for Beijing as well asfor Tianjin itself.

Currently, we have anagreement for 36.8-ha ofland at a fixed price. We do

not have to pay everythingupfront. And we think thatthe current market price ofland in the Tianjin Eco-Cityarea is somewhat higherthan what we had agreedon.

In fact, the three MOUs thatour joint venture companysigned with showed that theprices were higher than whatwas agreed with us. So weare optimistic that the TianjinEco-City project will be value-enhancing for Keppel.

Right now, we are workingwith our partners and all thegovernment agencies tolaunch the first phase of theStart-Up Area as soon as wecan. In fact, we are targeting

to do so end of this year orearly next year.

The current situation inChina is that we have a veryhigh take-up of residentialunits in Chengdu, Wuxi,Jiangyin and so on. So we areoptimistic that the take-upfor our residential projects inthe Tianjin Eco-City will bestrong.

I cannot give you a precisenumber right now. We are stillworking the numbers, anduntil we are able to sell, wecannot give you a number.

ON PROCEEDS FROMSPC SALETSH: It is good to have cashat this point in time. We will

obviously have the capacityto look for opportunities. Wehave already decided to payslightly increased interimdividends. We normally lookat special dividends only atthe end of the year.

So let us see what happensin the next few months andwe shall look at it when weannounce our year-endresults. keppelite

CCB – Mr Choo Chiau Beng,

Chief Executive Officer of

Keppel Corporation

TSH – Senior Executive

Director and Group Finance

Director of Keppel Corporation

Keppel FELS Brasil will leverage its strong local presence, experience and track record to strengthen its leadership position in the Brazilian offshore market



Keppel Offshore & Marine(Keppel O&M) has securedcontracts worth S$30 millionthrough its overseassubsidiaries for theupgrading and repair ofthree semisubmersibles(semis).

Mr Tong Chong Heong,CEO of Keppel O&M, said,“Keppel O&M’s network ofyards in the key markets,coupled with their strongexecution capabilities andquick turnaround, continueto advance the Group as the

Keppel secures $30m in semiupgrading contracts

choice partner for the repair,upgrading and completion ofrigs anywhere in the world.

“We are pleased thatour customers DiamondOffshore, China OilfieldServices Limited and NobleDrilling affirm this byreturning to our global yardsfor their needs. With ourclosely-integrated yardsbacked by resources fromheadquarters in Singapore,we will continue to deliverprojects to our customers’satisfaction.”

In the Netherlands, KeppelVerolme clinched a contractfor the repair and upgradingof a semi accommodationrig, COSLRIVAL (ex-PortReval), from China OilfieldServices Limited. The rigarrived in May 2009 andhas been docked in the500,000 dwt mammothdry-dock for generalclass renewal surveys,inspections, overhauls andrepairs.

The work scope includes theupgrading of electrical

switchboards, piping systemsand overhauling of marineequipment as well as deckcrane reinforcement.

COSLRIVAL is the thirdaccommodation support rigfor Norwegian waters tohave arrived in KeppelVerolme for a major overhauland upgrade.

In Brazil, Keppel FELS Brasilclinched contracts for therepair and upgrade of twosemis – Noble Drilling’s NoblePaul Wolff and DiamondOffshore’s Ocean Yatzy.

The upgrading of NoblePaul Wolff, which includedthe renewal of pipingsystems, anodes in tanksand steel work, was recentlycompleted. She is the secondNoble vessel to be servicedin the BrasFELS yard after thearrival of Noble Dave Beardin May 2009 for mechanicalcompletion which areongoing.

Meanwhile, the DynamicPositioning drilling semiOcean Yatzy will havestructural repairs carried outon a lifeboat platform,stability column andhelideck, as well as severalpiping and steel deckrenewal works. keppelite

The repair and upgrading of rigs such as COSLRIVAL, an accommodation semisubmersible in Keppel Verolme’s drydock, are some of theprojects keeping Keppel yards busy



Keppel Singmarine deliveredKogalym, a Multi-PurposeDuty Rescue Vessel onschedule to customerLUKOIL-Kaliningradmorneft(LUKOIL) on 1 July 2009.

Jointly designed by MarineTechnology Development(MTD), the ship design anddevelopment arm of KeppelOffshore & Marine (KeppelO&M), and its consultants,Robert Allan, Kogalym is thefifth ice-class vessel KeppelSingmarine has delivered toLUKOIL since 2003.

Named after a key oilproduction region for LUKOILin western Siberia, Kogalymwas christened by Mrs OlgaKessler, EnvironmentalEngineer (Labour Safety) ofLUKOIL at Keppel Singmarineon the day of delivery.

Fifth ice-class vessel completed

The timely delivery ofKogalym is a commendableachievement by KeppelSingmarine.

M r V i c t o r V e l i k o v ,Deputy General-Directorof LUKOIL, attested toKeppel Singmarine’s strongcapabilities when he said,“Heavy-duty support vesselssuch as Kogalym are highlyvaluable in ensuring smoothoffshore operations all yearround in the unique weatherconditions of the CaspianSea.

“Keppel Singmarine hasdemonstrated its strongcapabilities and commitmentonce again, with the timelydelivery of another finevessel. The company hasproven itself over the yearsas a reliable partner to

LUKOIL, and we are pleasedthat the rest of our vesselsbeing constructed by themare progressing well.”

This 60-tonne bollard pullvessel will be deployed in theCaspian Sea region toperform supply duty andrescue operations intemperatures as low as-20°C and ice thickness of upto 70 cm.

Said Mr Hoe Eng Hock,ED of Keppel Singmarine,“Through the successfuldelivery of Kogalym andseveral other importantprojects, we have developeda good understandingof LUKOIL’s operatingrequirements, be it in theCaspian Sea or Arctic regions.In the process, we havealso honed our expertise in

designing, engineering andconstructing advanced ice-breaking vessels.

“We look forward todeepening our win-winpartnership with LUKOIL andcontinuing to support themto become a leading globalenergy company.”

Over the last four years,LUKOIL has entrusted KeppelSingmarine with specialisedshipbuilding projects such asAsia’s first icebreakers, twoice-class Anchor HandlingTug/Supply vessels and aFloating Storage andOffloading vessel which isbeing completed by sisteryard, Caspian ShipyardCompany in the Caspian Sea.keppelite

Mr Tong Chong Heong, CEO of Keppel O&M (right) presents a token of appreciation to Lady Sponsor, Mrs Olga Kessler, Environmental Engineer (Labour Safety) of LUKOIL, who wasaccompanied by Mr Victor Velikov, Deputy General-Director of LUKOIL



Keppel Land and EvergroProperties (Evergro) jointlyannounced on 12 July 2009the proposed voluntarydelisting of Evergro fromthe Singapore ExchangeSecurities Trading Limited(SGX-ST).

On the proposed delisting,Mr Kevin Wong, GroupCEO of Keppel Land,said, “By combining theoperat iona l expert i se ,industry knowledge andextensive networks ofboth companies, KeppelLand will be in an evenstronger position to captureopportunities and growthin China.

“It provides us with astronger platform tomaximise the potential ofour existing portfolioand collective strengths aswe continue to growKeppel Land as the choicedeveloper of homes inChina.”

Under the Delisting Proposal,Keppel Land will make anexit offer for all the issuedordinary shares in the sharecapital of Evergro (Shares)

Proposal to unlock value inEvergro Properties

other than such number ofShares already owned,controlled or agreed to beacquired by Keppel Land asat the date of the Exit Offer(Offer Shares) wherebyEvergro shareholders willreceive either:

a. 1,000 new ordinary sharesin Keppel Land for every7,000 Offer Shares tenderedin acceptance of the ExitOffer; or

b. S$290 in cash for every1,000 Offer Shares tenderedin acceptance of the ExitOffer.

The Exit Offer considerationof new ordinary shares

in Keppel Land or cashrepresents a premium ofapproximately 21.1% or16.0% respectively toEvergro’s last transacted priceon 10 July 2009 of S$0.25per share.

Mr Wong added, “This is anopportunity for Evergroshareholders to unlock thevalue of their Shares at apremium to market. Evergroshareholders who wish toparticipate in the futuregrowth of Keppel Land canopt to receive new KeppelLand shares in exchange fortheir Shares.”

For Keppel Land, whichhas a direct interest of

By combining the operational expertise,industry knowledge and extensive networks ofboth companies, Keppel Land will be in an evenstronger position to capture opportunities andgrowth in China.Mr Kevin Wong

Group CEO, Keppel Land

approximately 85.38% inEvergro, this proposeddelisting will involve a totalcash consideration of up toS$54 million (if all acceptingEvergro shareholders elect toreceive cash as considerationfor their Offer Shares) to befinanced from internalresources.

Merrill Lynch (Singapore) hasbeen appointed as financialadviser to Keppel Land. TheBoard of Evergro will appointan Independent FinancialAdviser (IFA) to advise thedirectors who are consideredto be independent for thepurposes of the DelistingProposal and the Exit Offer,on the Exit Offer. keppelite



Secretary to the Governmentof the Federal Republic ofNigeria.

Bumi Armada’s CEO & ED,Mr Hassan Basma, said,“Understanding and trustbuilt over years of closecollaboration betweenKeppel Shipyard and BumiArmada have resulted in thetimely and safe execution ofthe conversion works forFPSO Armada Perdana.

“Under the capableleadership of the combinedteams, we have been able tofast-track the project whichtook just 18 months, fromthe time the contract wasawarded to the completionof the conversion.”

One heartbeat for successClose collaboration with repeat customer results in timely conversion worksat Keppel Shipyard.

Mr Nelson Yeo, ED of KeppelShipyard, said, “KeppelShipyard is pleased to carryout the conversion of BumiArmada’s second FPSO.The delivery of ArmadaPerdana successfully andsafely, with a record of 1.8million man-hours withoutlost-time injury, is achievedthrough the efforts ofeveryone working on theproject. This conversionfurther strengthens thepartnership between our twocompanies”

The vessel, which arrived inMay last year, underwentfabrication, installation andintegration of a 12-pointspread mooring system,riser balcony and topside

facilities, as well as upgradingof its accommodation andauxiliary support systems.

It now has a storage capacityof one million barrels of oilwith water and gas injectioncapabilities included in itstopside. It is also capable ofprocessing 45,000 barrels ofoil per day (bopd).

Keppel Shipyard’s affiliationwith Bumi Armada goesback into the last decadewhen it first converted theFPSO Armada Perkasa in1997 for operation in thePM3 Field, Malaysia. It wasrecently upgraded further in2007 for deployment in theOkoro Setu Field, Nigeria.keppelite

Armada Perdana is the second FPSO to beconverted by Keppel Shipyard for BumiArmada

Keppel Shipyard is on trackto complete the conversionof FPSO Armada Perdanafor repeat customerBumi Armada Berhad (BumiArmada).

A ceremony for the namingof the FPSO prior to itsdeployment in the Oyo field,70km off the coast ofNigeria, was held at theshipyard on 18 July 2009.

Gracing the occasion wereMr Dimeji Bankole, Nigeria’sSpeaker of the Houseof Representatives, andMr Ahmed Mahmud Yayale,

FPSO Armada Perdana was named In the presence of guests from afar, Mr Ahmed Mahmud Yayale, Secretary to the Government of the FederalRepublic of Nigeria (first from left) and Mr Dimeji Bankole, Nigeria’s Speaker of the House of Representatives (third from left)



HRH Willem-Alexander, Prince of the Netherlands (left), getting an insight of Keppel Seghers’ capabilities from Ronald Carrette, Head ofProposal from Keppel Seghers (Belgium)

Although water scarcity mayseem remote to Singaporeand other developedcountries, it is estimated byUN Water Statistics thatcurrently, one in six peopleworldwide lack safe drinkingwater while 2.5 billionhave no access to basicsanitation.

Adding to the challenge ofcreating access to clean andpotable water is meetingthis need fast enough.Demand is set to rise rapidlyas the world populationgrows alongside rapidi n d u s t r i a l i s a t i o n ,urbanisation and climatechange.

Against this backdrop, theSingapore InternationalWater Week (SIWW) 2009,held from 22 to 26 June,focused not only on the

Addressing global water needs

science of water, but also onhow to realise the benefitsof technologies of solvingglobal water issues.

Being one of the 14 proudfounding sponsors of SIWW,Keppel Corporation took theopportunity to showcase the

water capabilities of KeppelIntegrated Engineering(KIE), its environmentalengineering arm. Takingcentrestage for KIE was itskey projects which includedKeppel Seghers Ulu PandanNEWater Plant, Singapore’sfirst NEWater Plantdeveloped under the Public-Private Partnership, andDoha North SewageTreatment Works (DNSTW),the largest integratedwastewater treatment andsludge treatment facility inthe Middle East.

As the DNSTW, currentlybeing developed, is one ofthe largest environmentalengineering undertakings bya Singaporean company,Mr Chua Chee Wui, CEO ofKIE, was invited to be oneof the panelists for theMiddle East and North AfricaBusiness Forum.

Giving insight to KIE’sapproach to doing businessin the Middle East, Mr Chuasaid emphatically that“sincerity is key.”

The international waterevent also saw the openingof Singapore’s newestNEWater plant, ChangiWater Reclamation Plant, forwhich KIE provided theEngineering, Procurementand Construction (EPC) forone of its key liquids modules.

Other co-located events atthe SIWW include theWater Leaders Summit,Water Convention, the 7thMinisters’ Forum onInfrastructure Developmentin the Asia Pacific Regionand International WaterAssociation’s 6th Leading-E d g e C o n f e re n c e o nWater and WastewaterTechnologies. keppelite

Mr Chua Chee Wui, CEO of KIE, shared his philosophy on doing business in the Middle Eastduring the CEO Busines Forum for the Middle East and North America



Subic Shipyard andEngineering, Inc (SubicShipyard) has beenprogressively upgrading andexpanding its facilities toenhance its competitivenessand capabilities.

At exactly 3.00 am on 8 July2009, the dock valve of thenewly extended drydock ofSubic Shipyard was openedfor flooding. The figures

Ushering in propitious tidings“3” and “8” were chosenbecause they are consideredlucky numbers – ”3" inCantonese signifies birthwhile “8” signifies prosperity.The dock gate was thenopened at 8.00 am markingthe beginning of its fulloperations.

Mr Mok Kim Whang,President and GM of SubicShipyard, explained, “We

opened the extendeddrydock during an auspicioustiming to herald in prosperityfor the shipyard.

“More significantly, as thiscomponent of the yardupgrading project hasbeen completed ahead ofschedule and within budget,we would like to continuehaving such smooth-sailingsuccess in our operations.”

The upgrading programmeincludes the lengthening ofthe graving dock from350 to 550 metres, the175-metre jetty extensionproject, the constructionof a training centre, theacquisition of portal and jibcranes, and concreting thefabrication area. keppelite

Senior Minister and Co-ordinating Minister forNational Security, ProfessorS Jayakumar launched theinaugural Lee Kuan YewWorld City Prize at theopening ceremony of theSIWW 2009. It is co-organised by Singapore’sUrban RedevelopmentAuthority and the Centrefor Liveable Cities.

The Prize seeks to recognisethe achievements ofoutstanding individuals andorganisations who havecontributed urban initiatives,policies or projects whichepitomise foresight, goodgovernance or innovationin overcoming the challengesfaced by cities.

Keppel sponsors inaugural Lee Kuan Yew World City PrizeThe biennial international award focuses on four pillars instrumental to the success of every city – liveability,vibrancy, sustainability and quality of life.

Minister for NationalDevelopment, Mr Mah BowTan, said, “Many cities arefaced with challenges ofrapid urban growth, lack ofhousing and infrastructureand increasing trafficcongestion. Singapore tooseeks to develop a liveableand sustainable city with agood quality of life. We hopethat the Lee Kuan Yew WorldCity Prize will serve as acatalyst to facilitate thesharing of best practices inurban solutions world wide,and spur further innovationin sustainable urbandevelopment in pursuit ofcity excellence.”

Mr Choo Chiau Beng, CEO ofKeppel Corporation said,

“Keppel is honoured to beassociated with this awardof distinction. Through ouroperations in Singaporeand abroad, and particularly,with our businesses inenvironmental engineeringand developing qualityhomes, we have participatedin the creation of vibrant,liveable and sustainableu r b a n c o m m u n i t i e sworldwide.

“Most recently, Keppel’sleadership in the Sino-Singapore Tianjin Eco-City,which aims to be a modelof sustainable developmentin China, continues todemonstrate our commitmentto excellence globally, andmoving into the future.”

The Lee Kuan Yew WorldCity Prize Laureate will bepresented with an awardcertificate, a gold medallion,and a cash prize ofS$300,000, sponsoredby Keppel Corporation.Members of the Prize Counciland Nominating Committeeare prominent local andinternational thought leaders,practitioners, academics andrelevant experts from theprivate and public sectors.

The inaugural Lee Kuan YewWorld City Prize will beawarded in June 2010 at theLee Kuan Yew AwardsCeremony and Banquet, tobe held during the WorldCities Summit 2010 inSingapore.



Completing an outstandingcollection of four highefficiency jackup rigs that willfurther Maersk Drilling’s(Maersk) reach in the globaldeepwater drilling market isKeppel FELS-built MaerskReacher.

Delivered on schedule, withinbudget, and incident-free,the rig was named byLady Sponsor, Mrs AnneNorderud-Poulsen, wife ofMr Morten Poulsen,Maersk Project Director,Semisubmersibles, on 21 July2009.

The series, awarded to KeppelFELS in 2005, is built to theCJ-50 design by MarineStructure Consultants (MSC)of the Netherlands.

The rigs can operate in waterdepths of 350 feet, aresuitable for drilling hightemperature/high pressurewells of 30,000 feet, and arealso highly automated forsafe operations.

Mr Claus V. Hemmingsen,CEO of Maersk Contractors,said, “We would like tocommend Keppel FELS thatlike its sister rigs, MaerskReacher is delivered to oursatisfaction and high esteem,bearing Keppel’s mark ofdistinction.”

Perfect reachKeppel FELS completes fleet of four jackups for Maersk with the latest delivery.

The first rig, Maersk Resilient,was delivered in February2008 and has commencedoperations for DubaiPetroleum Establishment.The second rig, MaerskResolute, was delivered inAugust 2008 and has beencontracted to Dong Energyfor operations in the Danishpart of the North Sea overthree years. The third rig,Maersk Resolve wasdelivered in January 2009and is currently operating inNorway.

Mr Tong Chong Heong,CEO of Keppel O&M, said,“Maersk is our valuedpartner and we are veryhonoured to be entrustedwith building some of themost advanced premiumoffshore rigs in their fleet.”

In addition to the jackupunits, Keppel FELS is currentlycompleting for Maersk thelast two of three new ultra-deepwater semisubmersibles(semis), based on theKFELS DSS-21 design, jointlydeveloped by Keppel’sDeepwater TechnologyGroup (DTG) and MSC.

The last two semis areexpected to be completedin 3Q 2009 and 2010respectively. The first semi,Maersk Developer, was

delivered in end-2008 andis the most technicallyadvanced deepwater drillingrig to be designed andcompleted by Singapore todate.

Mr Claus V. Hemmingsen,CEO of Maersk Contractors,added, “The Keppel andMaersk project teams havealways enjoyed closecollaboration and built astrong foundation of trustover the years. Keppel FELShas again affirmed ourrespect in their world-class

Delivered on time and within budget, Maersk Reacher completes the fleet of four jackup rigsfor Maersk

workforce and we remainpleased to have theircontinuing support.”

Mr Tong added, “We prizethis longstanding relationshipwith Maersk and arecommitted to continue todeliver excellent projects, ontime and within budget toMaersk to be their choiceprovider.” keppelite



West Setia underwent repair works atKeppel FELS’ Pioneer Yard 2, which werecompleted ahead of schedule end-June2009

SIGN OF FRIENDSHIPA letter brimming withwords of commendation andpersonally hand-writtensignatures to Keppel FELSfrom Ensco InternationalIncorporated (Ensco), is anunwavering sign of the trustand friendship sharedbetween the two companies.Keppel FELS had deliveredENSCO 8501, the second ofseven ENSCO 8500 Series®

u l t r a - d e e p w a t e rsemisubmersibles to long-time customer, Ensco in Junethis year.

Ensco’s Capital Projects andOperations groups expressedtheir high regard and

appreciation to everyonewho was part of the rigconstruction “family” andespecially commendedKeppel FELS for the “value,service and spirit of theefforts” taken to completeENSCO 8501 – a job welldone!

STAMP OF SATISFACTIONKeppel FELS scored highnotes with Seadrill AsiaLimited (Seadrill) for excellentexecution in repair workswhich are ahead of schedulefor semisubmersible tenderrig, West Setia.

Commendations from customersFor jobs well done, Keppel FELS was lauded by two of its customers this month.

The rig went through a classsurvey while at the yard, withrepair works such as hullrenewals, steel modificationsand installation of third partyequipment performed to thesatisfaction of Seadrill andtheir client, Chevron.

Beyond the contractedwork scope, the team alsocompleted additional worksthat surfaced as the projectprogressed.

In a commendation letter toMr Wong Kok Seng, ED(Operations), Keppel FELS,

Seadrill’s MD Mr Staale Roedsaid, “All the works werecompleted to our satisfactionin a highly professionalmanner and with fullattention to health, safetyand the environment.

“The high level of planningwas apparent, allowingwork to progress smoothlyand safely. Co-operationbetween your team and ourrig crew was excellent.”keppelite

24 Special Focus


Keppel to develop eco-homes andcommercial developmentsin Tianjin Eco-City

25


Keppel Corporation andKeppel Land will take upinterests of 45% and 55%respectively in a 36.8-hasite located in the 4-sqkmStart-Up Area (SUA) ofthe Sino-Singapore TianjinEco-City (Tianjin Eco-City).The total capital investmentcost of Keppel’s developmentis about RMB705 million( a p p r o x i m a t e l yS$148.5 million).

Keppel Land has beenappointed the projectmanager for the developmentof the site, which will becarried out in phases.

The site, which is atmasterplan developmentstage, is expected to yieldabout 5,000 homes in totalas well as commercialdevelopments includingoffice and retail with a totalGross Floor Area (GFA) ofabout 680,000 sm.

Phase 1 is expected to yieldabout 1,760 homes with atotal Gross Floor Area (GFA)of about 170,000 sm andcommercial developments(including office and retail)covering a total GFA of about40,000 sm. Construction ofPhase 1 will commencein 1Q 2010 and the saleslaunch of Phase 1 of homesis expected in 2Q 2010.

The Keppel development isstrategically located alongthe Eco-Valley, which isthe ecological green spinelinking major transit nodes,residential developments andcommercial centres. It is also

in proximity to the Eco-Business Park and thecommercial sub-centrewhich is located next to aplanned light rail (LRT)station.

Mr Kevin Wong, Group CEOof Keppel Land, said, “KeppelLand has a successful trackrecord in masterplanningand executing large-scalei n t e g r a t e d t o w n s h i pd e v e l o p m e n t s . O u rknowledge of and experiencein the China market will putus in good stead to harnesssynergies and create value forthe Tianjin Eco-City.

“Keppel Land will galvanisethe expertise and talents ofinternational consultantsand agencies to contributetowards the developmentof a thriving city in anecologically sustainableurban living environment.”

The international team ofexpertise engaged tocontribute to Keppel’s firstdevelopment comprisesSkidmore, Owings & Merrill,one of world’s largest andmost influential architecture

firms; Palmer & TurnerConsultants; Rocky MountainInstitute, a renowned US-based consultant on efficientand sustainable solutions;and Parsons Brinkerhoff, oneof the leading engineeringconsultancy firms with vastexperience in China and eco-projects.

Keppel is committed tocreate a harmonious andeco-driven live-work-playenvironment integratinghomes and commercialdevelopments. In line withKeppel Land’s commitmentto promote green living andvision for the Eco-City, thehomes and commercialproperties will be developedto achieve at least the BCAGreen Mark Gold or itsequivalent.

Eco-features in the Keppeldevelopment include theprovision of good thermalinsulation for buildings anduse of solar energy to reduceenergy consumption;thoughtfully planned internalspatial lay-outs for effectivelighting and ventilation forindoor air quality; rainwater

collection (recycled water) forirrigation and outdoorcleaning purposes as wellas extensive landscapingfeatures including theintroduction of sky gardens.

ECO-CITY DRAWSSTRONG INVESTMENTSAlthough it had just brokenground late last year, theTianjin Eco-City has alreadyattracted a total investmentof RMB40 billion. “At thestart, we were knocking oninvestors’ doors, but nowthey are knocking on ours’instead,” shared Mr GohChye Boon, CEO of SSTEC,in a recent interview withSingapore’s The Straits Times.

Over two weeks in July,the Sino-Singapore TianjinEco-City Investment andDevelopment Co (SSTEC)s i g n e d o n i n q u i c ksuccession Memoranda ofUnderstanding (MOUs) withthree top regional developers– Shimao Property HoldingsLtd (Sh imao) , one ofmainland China’s topdevelopers; Farglory Land

Tianjin has achieved one of the highest growth rates inthe first quarter of this year and being the economiccentre of the Bohai sea region, many investors anddevelopers have shown keen interests in our Eco-City.To create a truly international city of the future, it isimportant for us to work with world-class investors anddevelopers from around the world.Mr Goh Chye BoonCEO, SSTEC



26 Special Focus

D e v e l o p m e n t G ro u pShanghai (Farglory), a unit ofFarglory Group, Taiwan’slargest developer and MitsuiFudosan, Japan’s largestdeveloper - to collaborate ondifferent developments inthe Tianjin Eco-City.Together, these threeprojects are expected tocreate more than 24,000homes at a total cost of morethan RMB23 billion. Thisrepresents new heights forthe Tianjin Eco-City as thesecollaborations cover anarea of more than 6 sqkm,greater than the originally-planned 4 sqkm for theSUA.

Mr Goh shared that heanticipates the next wave ofinvestments coming fromindustries ranging fromwater technology to wastemanagement, which areexpected to bring in up toRMB3 billion over the nextcouple of years.

SSTEC has identified six mainclusters for the Tianjin Eco-City’s industry development:clean and renewable energy;water technology; greentransport; environmentalm a n a g e m e n t ; w a s t emanagement; and greenbuildings. “Tianjin Eco-Cityis not just a residential city.Job creation, industrydevelopment and economicgrowth are all very vital,” saidMr Goh.

For investors, apart fromthe tremendous potentialpresented by the Eco-City,they view Tianjin as aspringboard to launchproducts and services intothe larger northern Chinamarket, he added.

SSTEC’s strategy is to focuson market proven urban eco-solutions, instead of purelypursuing zero-carbon targetsthat will price homes in theTianjin Eco-City beyond the

Tianjin city centre), the30-sqkm Tianjin Eco-City isenvisioned to create aharmonious and sustainablecommunity that meets theneeds of an urbanising Chinaand will be a moderntownship where 350,000residents can live, work andplay.

Mr Goh, CEO of SSTEC, isconfident that the TianjinEco-City will continue toattract international players.He said “Tianjin has achievedone of the highest growthrates in the first quarter ofthis year and being theeconomic centre of theBohai sea region, manyinvestors and developershave shown keen interests inour Eco-City. To create a trulyinternational city of thefuture, it is important for usto work with world-classinvestors and developersfrom around the world.”keppelite

reach of most home buyers.By starting with pragmaticand realistic goals, SSTECaims to attract a criticalmass of residents into theTianjin Eco-City. At the sametime, it will ensure that anyeco-solutions implementedwill leave room for futureupgrading.

SSTEC is the masterdeveloper for the TianjinEco-City. Currently beingincorporated, it is a 50/50joint venture between theChinese Consortium led byTianjin TEDA InvestmentHolding Co., Ltd (TianjinTEDA) and the SingaporeConsortium led by theKeppel Group.

The Tianjin Eco-City isa landmark bilateralproject between China andSingapore with private-sectorinvestment and development.Located in the Tianjin BinhaiNew Area (40 km away from


To make the Tianjin Eco-City a world-class model of sustainable development, SSTEC is working with international partners with top-notch expertise and innovative ideas



The best in the property andreal estate industry in Asiadeserved the shine of honouraccorded to them at therecently held Asia PacificProperty Awards 2009presented by CNBC on16 July 2009.

Developing Asia’s BestAmongst them was Keppel,which swept six awards fromvarious categories.

Keppel also had a “bonus”victory for having SaigonCentre selected as anominee to compete in the

Winners at Asia Pacific PropertyAwards 2009

SINGAPORE– Reflections at Keppel Bay, Best High-Rise Development,

Residential

CHINA– 8 Park Avenue, Best High-Rise Development, Residential– The Arcadia, Tianjin, Best Property, Residential

VIETNAM– Villa Riveria, Best Development, Residential– Saigon Centre, Best Mixed-Use Development,

Commercial

INDIA– Elita Promenade, Best Development, Residential

Keppel Corporation made itto the list of top 10 regionalcorporations that exemplifyhigh standards of corporategovernance, reportedfinancial firm UBS and US-based GovernanceMetricsInternational (GMI) followinga recent assessment.

Tops for governanceOn a scale of one to 10,Keppel Corporation scored aGMI rating of 6.5 which isabove Singapore’s averagerating of 5.1. A total of 46firms were evaluated inSingapore and they fared bestin board accountability andremuneration categories.

Within the Asian regionexcluding Japan, Singaporehad also emerged topamongst 10 countries,followed by Thailand andIndia.

Companies were evaluatedb a s e d o n s i x c r i t e r i a

c o m p r i s i n g b o a r daccountability, financialdisclosure and internalcontrols, shareholder rights,remuneration, market forcontrol, as well as corporatebehaviour. keppelite

Reflections at Keppel Bay received a five-star rating in its category for Best High-RiseDevelopment, Residential (Singapore)

International PropertyAwards which will be heldend this year.

The Awards cover a widespan of 21 categories and paytribute to the world’s finestproperty companies through

the International Awards, splitinto regions covering theAmericas, Asia Pacific, Europe& Africa, Arabia and UnitedKingdom. keppelite



Fifteen rewarding years in thebusiness certainly calls for aspecial celebration. KeppelFELS Baltech (KFB) celebratedits anniversary in traditionalBulgarian-style with musicand dance on 8 July 2009.

In the midst of revelry,Mr Tong Chong Heong,CEO of Keppel Offshore &Marine (Keppel O&M), whohad gamely joined in theBulgarian folk dance ‘Horo’during the celebration inVarna, Bulgaria, reflected onKFB’s years of growth.

Mr Tong said, “KFB has comea long way, considering thatit started out with just ahandful of local engineersin Varna. Today, KFB hasbecome a state-of-the-artengineering company, backedby a capable workforce ofmore than 100 people.

Keppel FELS Baltech turns fifteen“It has also grown to becomean important part of theKeppel O&M Group, helpingto boost the competitiveedge of our global yardsacross Singapore, theNetherlands, the US and theCaspian region, with highquality engineering solutionsfor offshore rigs andspecialised marine vessels.”

Admiral Christo Kontrov,Regional Governor ofVarna, on the long-runningrelationship between Keppeland Varna said, “I would liketo express my appreciation toMr Tong and representativesof Keppel O&M managementfor creating employmentopportunities in Varna,especially during the period1995 - 2000 when it was themost difficult period for theBulgarian shipbuildingindustry.

“I would also like to assureyou that the partnershipbetween the regionalgovernment of Varna andKeppel Corporation willcontinue to grow in future.”

KFB, founded in 1994, wasKeppel O&M’s first Europeans u b s i d i a r y. K F B m a d esubstantial progress by 1996,and became the first marinecompany in Bulgaria to be

awarded the internationallya c c l a i m e d I S O 9 0 0 1Certificate.

Through its involvement inseveral landmark projectswith the Group, it has builta strong track record inoffshore and marineengineering, and has beeninstrumental in customisingKeppel’s proprietary rigdesigns for various customers.keppelite

Mr Tong Chong Heong (extreme right), CEO of Keppel O&M, learnt Bulgarian folk dance‘Horo’ during Keppel FELS Baltech’s 15th anniversary. Left is Mr Aziz Merchant, GM(Engineering) of Keppel O&M

Keppel FELS Baltech’s employees showed up in strength to celebrate 15 years of sucess



Keppel Island will play hostto a week-long showcase ofthe latest in haute lifestyle asluxury exhibitors cometogether to unveil top-of-the-line products, elegantand bespoke – the first of itskind here in Singapore.

With a sprawling land areaof over five hectares andscenic waterfront views,Keppel Island will addexclusivity and sophisticationto the inaugural CeltonLiving in Style International2009 which will be heldfrom 22 to 29 September.Presented by The AnnixGroup, the public can expectit to be one of the prominentevents during the F1 Race.

Ms Wang Look Fung,General Manager, GroupCorporate Communicationsof Keppel Corporation, said,“The waterfront at KeppelBay, with its distinctivehomes and the scenic marinaprovides an apt setting forthis premier lifestyle eventwhich promises to be one ofthe highlights during the F1Race here in Singapore.

“Through such platforms,Keppel is proud to showcasethe quality live-work-playurban living that Singaporeas a global city offers.”

The invitation to lap it upIn Style come in the formof black-tie gala charity

Savouring Keppel Island in style

fundraisers, the finestselection of cocktailsand cigars, gastronomicexperiences with world-renowned chefs, exquisitetimepieces and jewellery,exclusive previews ofluxurious homes andultimate getaways, just toname a few.

“The idea is to celebrateluxury with a difference,”said Mr Amit Alok, CEO ofThe Annix Group. “To meetthe growing demand forluxury items and ultimateexperiences among localaudiences and visitors,we are creating a platformfor interactive and lively

e x c h a n g e s b e t w e e nexhibitors and consumers.”He shared this at the Livingin Style media event held on1 July 2009 at the Reflectionsat Keppel Bay show.gallery.

Tickets to Celton Living inStyle International 2009 are

available to the public from15 July at www.tdc.sg.For more information onCelton Living In StyleInternational 2009, pleasevisit www.livinginstyle-international.com. keppelite

Attendees of the LIS media event taking a close look at plans for Keppel Island

A glimpse of the high life on display at Reflections at Keppel Bay



Over the years, KeppelVerolme’s management andits union, Works Council,have developed a strongcollaborative relationship tosupport the growth of thecompany’s business as wellas meet the needs of itsemployees.

In the face of currentchallenging economic times,the foundation of mutualtrust and support built upover the years haveenabled the two partiesto work out solutions to helpthe company effect cost-savings and stay competitive.

One programme introducedis a flexible working hourregime that will involve 290employees, starting from1 August 2009.

The flexible arrangementensures that manpower

Win-win partnershipKeppel Verolme management and its workers’ union work together to tidethrough challenging times.

resources are efficiently andoptimally utilised withoutwastage, such as by allowingthe workers to work shorteror longer hours accordingto the workload at theshipyard.

Employees will also needto multitask with eachdepartment leveraging oneanother’s skill-sets. Forinstance, production workersfrom the steel departmentwill assist their peers from themechanical department andvice versa.

Mr Harold Linssen, MD ofKeppel Verolme, said, “Wehave built up trust andrapport with our union overthe years as we have beenthrough many good and badtimes together.

“We are happy to garnersupport from them for this

flexible working hourregime as this will help thecompany to achieve cost-savings. By encouraging ouremployees to multitask, wealso hope to better leveragethe skill-sets of all employeesand indirectly help reducemanpower.”

Mr W. van der Hor, Chairmanof the Works Council,commented, “We share thesame goal and vision as themanagement. Recognisingthe need for such a measureto help the company totide through the currenteconomic downturn, we haveexplained the rationale ofthe new regime to ourmembers and have gatheredt h e i r s u p p o r t a n dunderstanding.”

Mr H. Tirion, Project CostController of Keppel Verolme,was one of the union

members who gave his fullsupport readily.

“Seeing how the economicdownturn has affected ouryard business, I can fullyunderstand the rationalebehind this regime and seehow it can help us tidethrough these challengingtimes.”

Mr Tong Chong Heong,CEO of Keppel O&M isfully supportive of the newregime. He said,”It isgratifying to see KeppelVerolme’s management andits Union working in unisonto ride out the tough times.I hope this collaborativeeffort will serve as aninspiring example to otherUnions and subsidiaries inKeppel to work closelytogether to overcome themany challenges ahead.”keppelite

Mr Tong Chong Heong, CEO of Keppel Offshore & Marine (third from right), gave his full support to the management of Keppel Verolme and Works Council representatives on the flexibleworking hour regime




Keppelite updates on theprincipal staff movementswithin the Keppel Group ofcompanies:

KEPPEL CORPORATIONMs Cindy Lim has beenappointed the Deputy GM ofGroup HR of KeppelCorporation with effect from1 July 2009. She wasseconded from KeppelOffshore & Marine (KeppelO&M), where she willcontinue to oversee the HRand Talent Developmentactivities.

Ms Lim first started her careerin Keppel FELS in 2001 as aQuality System Engineer, andbecame Quality SystemManager in 2004. She wasthen transferred to GroupHR of Keppel O&M asManager in 2005, and wassubsequently promoted toSenior Manager in 2007 andAssistant GM on 1 May2009.

MARINA AT KEPPEL BAYMr Trevor Fong has beenappointed the GM of Marinaat Keppel Bay with effectfrom 1 July 2009. Mr Fongwas previously the GM ofTradeOne Asia, a formers u b s i d i a r y o f K e p p e lCorporation. keppelite

Peoplematters

Reflections at Keppel Bay,the residential showcase inAsia for master architectDaniel Libeskind, plans toincrease its eco-efficiencywith 49 KONE MonoSpace®

elevators and 18 KONEMiniSpace™ elevators.

Powered by the KONE EcoDisc®, these elevators canachieve a 70% reduction inenergy costs compared toa hydraulic elevator and50% less compared to ageared traction elevator,

Elevating sustainabilityin urban livingReflections at Keppel Bay turns up sustainability factor witheco-efficient lifts.

thus significantly reducingthe development’s carbonfootprint.

Mr Augustine Tan, CEO,Singapore Residential,Keppel Land, says, “ABuilding and ConstructionAuthority Gold GreenMark award development,Reflections at Keppel Bayis another good exampleof Keppel’s commitmentto develop propertieswhich harmonise with theenvironment and enhance

the quality of life of ourhomeowners.”

Other energy-efficientf e a t u r e s i n t h edevelopment include theuse of double-glazed andlow emissivity glass toreduce heat and sub-meters to monitor theenergy usage. Homeownerswill also be provided withe n e r g y - e f f i c i e n trefrigerators, washingmachines and inverterair-conditioning. keppelite

Having robust riskmanagement policies inplace is essential for theKeppel Group to mitigatethe effects of a constantlyevolving global economy.With a global presence inmore than 30 countries, thisimperative is even morepronounced.

As Keppelites continue tokeep a close vigil oversignificant changes to keep

Proactive risk managementahead of competition, seniorm a n a g e m e n t re c e n t l yattended a discussion sessionon ‘Timing, Intensity andEngines of the Wor ldRecovery in 2009 – 2010’.

K e p p e l G ro u p R i s kM a n a g e m e n t i n v i t e dDr Thierry Apoteker, CEO,founder and chief economistat TAC Financial, to shareh i s v i e w s o n g l o b a lmacroeconomic affairs.

He did not expect a sharprecovery and forecastfurther market volatility.

Keeping abreast ofchanging economic ,financial and political risksin the markets where weoperate will facilitate themanagement in makingb u s i n e s s d e c i s i o n s ,executing strategies andcapi ta l i s ing on newopportunities. keppelite



“Hi, I am from the Ministryof Health and I would like toinform you that yourcolleague was tested positivefor H1N1 and was in closecontact with you recently.”

When such a call reachesyou, do you know what todo and how to react?

This chilling scenario waspresented to some Keppelemployees recently duringKeppel Corporation’s secondPandemic Exercise held inearly June.

By simulating a pandemicoutbreak of H1N1, theexercise brought home theurgency and importance ofa robust system to ensurebusiness continuity underthe most unexpectedcircumstances.

Since the SARS outbreak in2003 and the threat of Avianflu, Keppel Group has beenlooking at ways to minimisebusiness disruption in theface of public healthemergencies.

The Business ContinuityPlanning (BCP) Committeecomprises members from keystrategic functions such asGroup Risk Management,Group Human Resources,G r o u p I n f o r m a t i o nTechnology and GroupCorporate Communications.

Pandemic preparedIt reviews and makesrecommendations on theGroup’s BCP policies,framework and procedures,as well as identifies gaps inexisting policies, andimplements initiatives andindustry best practices toaddress them.

Besides testing work-from-home scenarios, thisexercise aimed to examinethe effectiveness of theimprovements that weremade since the first exercisein 2007. The exercise wasalso a chance to test therobustness of Keppel

Corporation’s IT systemsand remote access to criticalIT resources, alternativework procedures andcommunication flow.

Given that H1N1 situationwas being updated veryquickly , the BCP committee

Be socially responsibleIf you have been given medical leave, do not return to work or school before the endof the leave period.

Source: Ministry of Health



met with various challengesin the course of theirplanning for the drill. Manyof the policies, such as travel,had to be relooked at andchanged constantly in orderto remain relevant under thelatest conditions.

Suam Chee Kit, from GroupRisk Management, shared,“We had to quickly reviewand revised our BCP plansto ensure that it remainsrelevant in addressing H1N1,as our previous plans andassumptions which were allbased on Asian Flu andSARS.”

Agatha Goh, from GroupHuman Resources, reflectedthat the exercise provedto be very helpful in notonly testing the resilienceof our systems, but alsoin surfac ing areas ofimprovement such asenhancing the overallcommunication structureand refining alternativebusiness processes.

REALISM INJECTEDBecause of prior experience,the BCP committee was notonly able to adapt quickly,but to also raise the barduring the simulationexercise by injecting a doseof realism. There was aneed to test situationalawareness and proceduralunderstanding down to theindividual staff level.

A random employee fromeach department was henceinformed during the exercise

that he/she was in “closecontact” with a fictionalemployee who testedpositive for H1N1. He/shewas then quizzed on theprocedures that should befollowed under such acircumstance.

Such role-playing exercisesproved to help greatly insimulating challenges duringa pandemic.

CONSTANT VIGILANCEAlthough Singapore has nowmoved fully into mitigation

phase against H1N1, it isimportant that Keppel remainsvigilant against the threat.

While the severity of theflu remains relatively mild,latest data show that 53%of samples taken frompatients with influenza-likeillness are H1N1-positive,meaning to say, one intwo patients with flu-likesymptoms are sufferingfrom H1N1.

While not as fatal asfeared initially, individuals

Subic Shipyard andEngineering recentlyprepared for a possiblepandemic by conducting apandemic flu simulationexercise.

Aside from the simulationexercise, shipyard workers

have been conducting dailyphysical exercises to increasetheir resistance against anyflu virus and keep healthy atthe same time.

As Mr Mok Kim Whang,President and GM of SubicShipyard explained, “Just as

Fighting fit

Exercising is one fun way to help keep the flu in check at Subic Shipyard

keeping fit and practisingpersonal hygiene are thefirst line of personaldefence against anysickness, simulationexercises is the first line ofcorporate defence againstevents that may endangerbusiness continuity.”

with underlying medicalconditions may developserious complications ifexposed to H1N1.

Hence, it is important thatKeppelites continue toexercise social responsibilityand practice good hygiene atall times. That is where thebest cure perhaps lies –constant vigilance. keppelite



Keppel hosted severalvisits to foreign delegatesand dignitaries recently, atestament to its globalpresence and internationalstanding.

ENGAGING AFRICAAs part of a study visit toSingapore, some 35 seniorofficials from Africa and theWorld Bank visited KeppelOffshore & Marine (KeppelO&M) on 25 June 2009 tolearn about its successfulp e o p l e d e v e l o p m e n tstrategies.

The delegation, whichcomprised nine Ministers, aswell as Permanent Secretariesand other senior leaders fromGhana, Kenya, Mozambique,Nigeria, Tanzania andRwanda, had a livelyexchange with Keppel O&M’ssenior management led byMr Tong Chong Heong, CEOof Keppel O&M.

Keppel O&M managementalso shared how the overseasyards are managed to ensurethat their multinationalemployees work and livetogether harmoniously.

With the comprehensiverange of human resourcetopics discussed, the visitwas a fruitful one for thedelegates.

Friends from far and wideBINDING TIES WITHNANTONGKeppe l Corporation alsohosted a delegation fromthe Nantong MunicipalPeople’s Government from25-26 June 2009.

Led by Vice Mayor Shen ZhenXin, the Chinese delegationwas in Singapore to explorebusiness collaboration withS ingapore companies

through a seminar that wasorganised by NantongM u n i c i p a l P e o p l e ’sGovernment, InternationalEnterprise (IE) Singapore andSingapore Chinese Chamberof Commerce & Industry(SCCCI).

The object ive was topromote Nantong as anattractive destination forinvestment. At the seminar,

the audience were introducedto the developments ofNantong’s shipbuilding andmarine supporting industries,as well as the benefits ofinvesting in the municipality.

Mr Lee Tai Kwee, Presidentof Keppel Nantong Shipyard,was one of the key speakersfor the seminar. He sharedwith the participants thereasons behind KeppelCorporation’s decision to setup its yard in Nantong in2005, while thanking thesupport from the Nantonggovernment.

Mr Lee said, “We havedeveloped a good relationshipwith the Nantong governmentand we are very happy withthe support that we havereceived for our projects inNantong. We look forward totheir continuous support forour future endeavours in theregion.”Mr Tong Chong Heong, CEO of Keppel O&M (right) shares his yard and talent management

experience with esteemed guests from Africa and the World Bank

The Nantong delegation and Keppel senior management toasts to better ties and future collaborations



During their stay inSingapore, the Nantongdelegation also visitedMarina at Keppel Bay (MKB)where Mr Choo Chiau Beng,CEO of Keppel Corporation,together with other seniormanagement from variousbusiness units hosted asumptuous lunch.

DEEPENING RELATIONSWITH BRAZILA delegation from Brazil alsovisited the Keppel Group’sheadquarters from 3-4 July2009.

H.E. Sérgio Cabral, Governorof Rio de Janeiro, Brazil,accompanied by Ambassadorof Brazil to Singapore,H.E. Paulo Alberto da SilveiraSoares, and a delegationcomprising seniorgovernmental officials, wasreceived warmly by seniormanagement from KeppelCorporation.

The delegation wasintroduced to the KeppelGroup’s core businesses inoffshore and marine,property and infrastructureby Keppel hosts, non-executive Chairman Dr LeeBoon Yang, CEO Mr ChooChiau Beng, Senior ExecutiveDirector and Group FinanceDirector Mr Teo Soon Hoe, aswell as well as the Group’stop management across thedifferent business units.

The delegation also called atthe world-class MKB wherethey got to experience firsthand the waterfront precinctof Keppel Bay.

The Group, through KeppelFELS Brasil and BrasFELS,enjoys a long-standingrelationship with Brazil.Some of the significantprojects delivered in thepast ten years include theFPSO vessel P-48, and twoproduction platforms, P-52and P-51. The BrasFELSyard in Angra dos Reis ispresently busy with the P-56production platform. Ways inwhich Keppel can contributeto Rio’s economic growthwere key topics discussedover the two-day visit.

GROWING ROOTS INBROWNSVILLEU.S. congressman Mr SolomonOrtiz and Mr Ong Siew Gay,Deputy Chief of Mission andCounsellor for the SingaporeEmbassy in Washington,D.C. toured Keppel AmFELSInc. on 18 July 2009.

“I appreciate and love therelationship we have had

(From left) U.S. congressman Mr Solomon Ortiz, Mr G S Tan, CEO & President of KeppelAmFELS and Deputy Chief Mr Ong Siew Gay cast their sights about Keppel AmFELS’ yard

with the company fromSingapore,” said Mr Ortizduring the tour of the Keppelfacility in Brownsville, whichhas a local employment ofabout 2,000 people.

Mr Ong said during theluncheon at the facility. “Ithink we in Singapore areprivileged to have KeppelAmFELS… Singapore is lessthan 700 sqkm. It has nonatural resources, just good

hardworking people whoare smart. We are privilegedto be able to set upcompanies like KeppelAmFELS and contribute tothe local communities.”

Keppel AmFELS is a majorcontributor to the university’snew fine arts building andappreciates the longstandingrelationship it has built withthe local community. keppelite

Dr Lee Boon Yang (third from left) introduces the world-class Keppel Bay to H.E. Sérgio Cabral (second from left), Governor of Rio de Janeiro



The Keppel journey forMr Lim Chee Onn startedin 1983 when he cameonboard as director in thegroup, and later when hewas appointed ManagingDirector of then StraitsSteamship Company (nowKeppel Land) in 1984. In2000, he took over the batonfrom the late Mr Sim KeeBoon as Executive Chairmanof Keppel Corporation.

But as the adage in the groupgoes, “Once a Keppelite,always a Keppelite”. Mr Limis deeply appreciated for hisinvaluable contributions toKeppel.

Although Mr Lim hasrelinquished his duties asExecutive Chairman andDirector of KeppelCorporation as well asChairman of Keppel Land on30 June 2009, he willcontinue his service as SeniorAdvisor so that the Groupcan benefit from hiscontinued guidance andstrong network.

Keppel Corporation andKeppel Land hosted dinnersin honour of Mr Lim on 1 Julyand 24 July 2009 respectivelywhere Keppelites fromacross the group extendedtheir good wishes andappreciation to him. keppelite

Once a Keppelite, always a Keppelite

The Keppel journey must be personally and professionallysatisfying, rewarding and enriching for Chee Onn.We celebrate his achievements with him.

On behalf of the Keppel boards and Keppelites acrossthe Group, we thank Chee Onn for his invaluablecontributions through the years. He has left a very deepand lasting imprint on Keppel. His contributions andstewardship over 26 years will always be remembered andtreasured by successive generations of Keppel.

Even as he embarks on a new journey, we extend our verybest wishes for his good health, success and happiness.Dr Lee Boon YangChairman, Keppel Corporationin tribute to Mr Lim Chee Onn at the farewell dinnerhosted by Keppel Corporation

Token of appreciation presented to Mr Lim was Ong Kim Seng’s water colour painting of Mr Lim’s alma mata, St Joseph’s Institiution, whosemission is to nurture leaders who are men of integrity and men for others



Fondly known as the ‘three wise men’ of Keppel – Mr Teo Soon Hoe (right) extending hisgood wishes to Mr Lim while Mr Choo Chiau Beng (centre) looks on

Vietnamese music scholar Huynh Thuc Anh performs in Mr Lim’s honour

Toasting to Mr Lim’s health and happiness as he embarks on a new journey at the dinner hosted by Keppel Land

38 Empowering Lives


38 Empowering Lives

Generation of growth

2009 Keppel Scholars (from L-R): Goh Si Hui, Law Yi Ming, Ong Chee Lam, Yeo Wei Zheng

the key difference to theorganisation as it strives toovercome these challenges.

“Our candidates have givenme much hope that ourpresent generation of youngpeople does have thequalities which our companyneeds to ensure that wecontinue to excel in thecoming decades.”

The video shown during theceremony showed thescholars to possess admirablequalities such as tenacity,resilience, and Can-Do!spirit.

Law Yi Ming, a KeppelCorporation scholar, was adedicated rugby playerwhose determination helpedRaffles Junior College clinchthe ‘A’ division rugby title in2007. He recalled, “Fallingdown does not signal theend of a journey, but anopportunity to learn, to getback on one’s feet, and tomake amends.”

Fellow Keppel O&M scholarOng Chee Lam, impressedby the warm welcomeextended by seniormanagement, added, “Ifeel that Keppel is theplace where you want tolove, protect and care for. Iam looking forward tothe opportunities to bravethrough tough timestogether and bring freshideas to the Group.” keppelite

Generations of young andaspiring individuals havejoined Keppel since theinception of the scholarshipprogramme in 1989. Today,they are posted across theGroup and globe, growingalongside the Company asKeppel continues to drive adifference.

This year, four dynamicyouths joined the league ofsome 167 scholars who arepursuing their dreams of aquality education andchallenging career withKeppel.

They were warmly welcomedinto the Keppel family at theKeppel Group ScholarshipsAward Ceremony, held at theReflections at Keppel Bayshow gallery on 7 July 2009.

Mr Choo Chiau Beng,CEO of Keppel Corporation,said, “The Keppel GroupScholarship is an importantconstituent of our humancapital development strategy.

“As fresh blood, our scholarsinject new ideas, drive and acreative and entrepreneurialspirit. Each scholar inherits

not only Keppel’s history andvalues but also the excitingopportunity to shape itsfuture.”

In the worst of times, thebest of people are the lifeforce of any company.Professor Bernard Tan, Guestof Honour and Chairman ofthe Scholarship SelectionCommittee, acknowledgedthis and emphasised theneed for resilient individualsto steer the company inuncertain times. He shared,“It is principally the calibre ofthe people who will make

Empowering Lives 39


Eager to stretch theirminds and potential,budding talents across theGroup are sprinting aheadin their learning curves atschool and at work.Keppelite shares the latestupdates on how threeKeppel scholars are takinggreat strides in theirdevelopment paths.

CONSTRUCTIVEDREAMSAs a child, Song Eng Keatcould not help being nosy,about how things workedthat is. At first, he startedto dismantle his toys. As hiscuriosity grew in lateryears, he progressed tomore complex things andbegan to take apart evenhis computer.

But Song did not leave atrail of destruction behindhim. Much to the contrary,Song was consequently so

intrigued to learn moreabout the ways and wondersof the electrical andelectronic world, that hedecided to delve intoelectrical engineering atNgee Ann Polytechnic (NP).

Today, Song, 21, has fulfilledhis childhood dream andmore. Graduating as oneof the top students of hiscohort, he even bagged anindustry scholarship fromthe Association of MarineIndustries (ASMI), sponsoredby Keppel O&M.

He has started work as anassistant electrical engineerwith Keppel Singmarinesince April this year.

Song shared, “Thanks to mymentors and supervisors, Ihave been able to adaptquickly to the new workingenvironment. In the shortfew months since I’ve been

here, I appreciate the bondsthat I’ve forged and learningopportunities given to me.”

The energetic youth, havingjuggled studies, Vice-Presidency of the ElectricalEngineering AcademicSociety and communityservice while at NP, nowlooks forward to growing hisroots in Keppel and buildingcamaraderie with hiscolleagues.

DRIVEN BY PASSIONTinagaran Puvanasan isall revved up to floor theaccelerator and drive his wayto fulfilling his dreams. But itwill not be on just any car; itwill be an eco-car designedand built by a team of six ledby him.

The 20-year-old, a KeppelO &M scholarship recipientthrough the ASMI ScholarshipProgramme, is building the

eco-car as part of his finalyear academic project.

When completed, it will runin the Shell Eco MarathonAsia 2010, competingagainst other prototypevehicles to travel the fartheston the least amount of fuel.

Tinagaran shared, “It is aninteresting and meaningfulengineering challenge. Ibelieve I will be able to applylessons and experience fromthis project to work later on.”

The same determination andzest to achieve in areas ofhis passion also propelledTinagaran to volunteer inthe Youth Olympic Games(YOG). Proud of Singapore’srole in the pioneer event,Tinagaran readily offered hisservices as a youth guide.


Powering the future

Song Eng Keat looks forward to growing his roots in Keppel and building camaraderiewith his colleagues

Tinagaran Puvanasan is building an eco-car as part of his final year academic project

40 Empowering Lives


Balancing these myriadcommitments is not new tothe current Vice Presidentof International Students’Club. Despite his activeparticipation in diverseprojects, Tinagaran continuesto do exceptionally wellacademically. Indeed, thismechanical engineeringstudent at NP has been onthe Director’s list for threeconsecutive semesters.

S i n c e a t t a i n i n g t h es c h o l a r s h i p i n 2 0 0 8 ,Tinagaran has interned oncewith Keppel, at KeppelShipyard’s MechanicalDepartment. He sharedthat this experience hadput him a step ahead of hispeers at school because it hasgiven him a ‘real-world’understanding of mechanicalengineering and the marineindustry.

LEARNING ON THE ROADWhile the road to learningmay sometimes be longand challenging, it didbring Keppel Corporationscholar Chan Suan Sim on ajoyride to Babson College inWellesley in the United Statesearly this year.

Yearning for cross-culturali n s i g h t s i n t o h o wentrepreneurial minds areharnessed at the Americancollege, ranked Number Onefor entrepreneurship inthe BusinessWeek 2009’s“The Best UndergraduateBusiness Schools” list,Suan Sim packed her bags

for a five-month longlearning adventure.

Currently a fourth yeareconomics student majoringin finance at the SingaporeManagement University,she shared, “I wanted toaugment my educationwith an experience of howthe Western educationalsystems are structured. Iwas also eager to immersemyself in a foreign cultureand environment and toexperience diverse workingstyles. I was amazed thatthe students I met theredemonstrated very strong

a w a re n e s s r e g a rd i n genvironmental issues. Thathas inspired me to wantto learn more in that area.

“I also appreciated how anopen-minded culture canbe conducive for thefree exchange of diverseopinions and multipleperspectives.”

Learning in school was onlypart of the experience.During one of her roadtrips, her car window wassmashed and the GPS wasstolen. Robbed while ont h e r o a d , S u a n S i m

discovered that expectingthe unexpected is partand parcel of l ife, nomatter how well thoughtout one’s plans can be.

“I realise now that it isimportant to be able tostay calm and think quicklyon my feet when things gowrong,” she added.

With a hunger for learningand an adventurousand g loba l mindset ,Suan Sim is certainly well-equipped for whateverbumpy and exciting roadsahead!

Exploring her boundaries, Suan Sim was awed by the Grand Canyon during her overseas stint in the US


Empowering Lives 41


Starting out from a humbleclubhouse with just a fewhundred affiliates in the1970s, the KeppeliteRecreation Club (KRC) hassince grown significantly instrength, serving over 4,000members today.

In appreciation of thestrength and supportfrom Keppelites’ activeparticipation, the Clubcelebrated its 33rd Dinner andDance (D&D) at OrchardHotel on 3 July 2009.

Guest of Honour Mr CharlesFoo, Chairman of KRC andMD (Special Projects) ofKeppel Offshore & Marine(Keppel O&M) took theopportunity to thank themembers for their unstintingsupport, not just for thisyear’s D&D, but for all theprojects and activities thatthe club had organised in thepast.

Mr Foo shared, “Over the pasteight years, KRC has organisedmore than 300 activitiesrelating to sporting, leisure andvolunteer programmes. Ourmembership has grownsubstantially as a result of themany new and engagingactivities. I am proud to seehow our efforts have helpedto enhance the camaraderieand work-life balance of ourmembers.”

Compared to the few basicofferings of recreational

KRC to draw more Keppelites

activities when it began,the Club now boasts amuch wider range ofactivities and programmessuch as dragon-boating,bowling, cricket and charitynight fundraisers.

Recently, the Club heightenedits outreach efforts byreaching out to a widergroup of Keppel businessunits in addition to KeppelO&M. This has led to theformation of several sub-committees to look into theneeds of members fromother sister companies in theGroup.

Mr Foo added, “While wework hard, we must alsotake time to have fun andunwind. In the near future,we hope to attract evenmore Keppelites from across

the Group to join us asmembers. KRC will continueto play an active role in thefostering of a cohesiveworkforce, which is vital tothe Group’s competitive edgeand ability to excel.”

T h e D & D , t h e m e d“Entertainment Tonight”,

took off with a series ofexciting and entertaininggames such as quizzes andcompetition for the best-dressed. Keppelites alsoshowcased their dancingtalents that left the audienceclamouring for more asthe evening drew to amemorable close. keppelite

Keppelites showcased their talent in dance

The KRC party kicked off with a series of exciting and entertaining games

42 Empowering Lives


Name Thomas PangAge 44Race Leg 1: Humber,UK – Rio de Janeiro,BrazilProfession GM,CorporateDevelopment,Keppel Offshore &MarineKey attributes Teammanager for KeppelOffshore & Marine’sdragon boating squadThomas’ leadershipexperience and team-building skills willcome in handy forUniquely Singapore.

Name Karan TeoAge 32Race Leg 4: WesternAustralia – Singapore– Qingdao, ChinaProfessionMarketing Executive,Keppel SeghersKey attributes Avolunteer diver andavid adventure seekerwith internationalexposure Karan’sdynamic personalityand sociabledisposition will beappreciated by hercrew especially whenthe going gets tough.

Four Keppelites fromdifferent walks of life knewthey were in for the time oftheir lives when they decidedto take up the challengeof becoming KeppelAmbassadors in the Clipper09-10 Round the WorldYacht Race.

As Keppel Ambassadorscompeting in the testingocean-crossing race, not onlydo they need to face thecapricious elements of theopen sea, but they also haveto evince the Can–Do! spiritof Keppel while tacklingthem.

The preparations that go intosuch a once-in-a-lifetimeopportunity are naturallyanything but slipshod. TheClipper participants had togo through three parts oftraining before taking on therace.

For those preferring to trainin Asia, Parts A and B of theClipper Training curriculumare conducted by Keppel BaySailing Academy (KBSA) atMarina at Keppel Bay withthe last session in Gosport,UK. Thomas Pang and AdrianTan were the first of theKeppel quartet to completetheir training.

Sharing the strategy he hadlearnt from the training,

Gearing up for the big raceThomas said, “Sailing on theyacht means working withcrew members from differentnationalities, age groups andbackgrounds.

“Together with the skipper,we will identify the strengthsand weaknesses of eachcrew member to bring outthe best in each of us. Wemust also learn how tomotivate one another andbuild up team spirit.”

For Adrian, he had come outof his training feeling moredetermined and motivatedthan ever to win the race.A surge of emotion floodedhis heart when he had firststepped onboard theUniquely Singapore clipper.

Adrian shared, “When weboarded the UniquelySingapore race boat, therewas immediately a sense ofpride knowing that we willbe representing Keppel andSingapore. It felt good.”

PLATFORM FORCHARACTER BUILDINGIn line with Keppel’scontinuous commitment toskills development andcharacter building for itsemployees, Keppelites areencouraged to take upsailing at KBSA with theCompany sponsoring 40%of the course fees.

Empowering Lives 43


Ms Wang Look Fung, GM ofKeppel Group CorporateCommunications, explained,“At Keppel, we not onlycelebrate an adventure-seeking mindset, we alsonurture it and provideopportunities for it toflourish.”

Responses so far for thesailing courses have beenvery positive.

Terence Chua, Pro jectE n g i n e e r a t K e p p e lSingmarine, was one of thefirst Keppelites who eagerlyseized the opportunity.More than just picking upsailing skills through thecourse, Terence had also builtup self-confidence whilelearning more about teamwork.

For Zac Tan, Senior InvestmentManager of Township &Waterfront Developments,Keppel Land International, thesailing courses had provenbeneficial for work.

Zac shared, “I took up thisexperience because theitinerary includes visitingvarious marinas in Singaporeas well as Nongsa PointMarina & Resort in Batam,Indonesia.

“This course is a goodchance for me to have a

better understanding of themarina community andlifestyle which may be helpfulin my work when it comesto developing Keppel Land’snew marina development inZhongshan, China.”

Not only Keppelites butmembers of the public havebeen attracted to take upKBSA’s Royal YachtingAssociation (RYA) accreditedsa i l ing courses . Thesestudents range from novicest o s e a s o n e d s a i l i n genthusiasts who wish toexpand the i r naut ica lknowledge and expertise.

Boris Zange, Trader atDeutsche Bank, shared,“I had a great time withKBSA, and I learnt muchmore about sailing than I hadexpected to. The experiencedinstructors made this coursenot only very effective butalso very fun.

“The s tate-of- the-ar tyachts make for a safe andexciting sailing experience.Furthermore, as KBSA isRYA-approved, which isa qualification acceptedworldwide, I will definitelyrecommend this to anyonekeen in sailing!”

For details on KBSA’s offerings,visit www.kbsa.com.sg.keppelite

Name Bart KregersmanAge 27Race Leg 5: Qingdao– CaliforniaProfession ResearchEngineer, KeppelSeghers (Belgium)Key attributesResourceful andinventive, engineering-trained Bart has ahands-on mentality tosolving problems andviews challengesas an opportunity toexplore, grow anddevelop oneself. Bartstands ready totransfer hiscompetencies fromwork toadventure.

Name Adrian TanAge 31Race Leg 7:Caribbean – Humber,UKProfession Contractsand ProcurementManager, Keppel FMOKey attributes Selfmotivation, rigourand strict disciplinehelped Adrian win forSingapore a silvermedal in theInternational DragonBoat Race in 1996.That experience andothers have shaped awinner out of him, ashe sharpens his skillsto win pride and joyfor Singapore again,this time on thecompetitive globalrace.

44 Empowering Lives


Living tiesThrough talent managementprogrammes and relationshipbuilding activities, Keppel’sshipyards in the Philippinesare constantly looking forways to develop theirhuman capital, as well asempower the lives of thosein the community.

HARNESSING LOCALTALENTSSince 2006, KeppelPhilippines Marine and SubicShipyard and Engineeringhave been sponsoring thecollege education ofoutstanding youths who lackthe financial means to pursuemarine-related courses.

This year, Keppel scholarshipswere awarded to twosalutatorians and twovaledictorians. They will be

studying Navel Architectureand Marine Engineering atthe NAMEI PolytechnicInstitute in MandaluyongCity, Philippines.

For one of the recipients,Norwin Dela Cruz, thescholarship is an opportunityto pursue a dream career. Heshared, “I have always hadan affinity for ships. With thisscholarship, I can take myinterest further byundergoing the necessarytraining that will enable meto work in shipbuilding anddesign.”

For Zarra Mendoza, anotherrecipient, the scholarshipprovides much neededfinancial assistance for hereducation. She explains, “Myfamily has to work very hard

to make both ends meet.If I did not receive thisscholarship, my collegeeducation would be at theexpense of another sibling’sschooling opportunity.”

To date, 11 students haveb e n e f i t e d f ro m t h i sscholarship programme.

BUILDING RELATIONSTHROUGH SPORTSKeppel Batangas Shipyardjoined other members of theBatangas Province TripartiteIndustrial Peace Council(BPTIPC) on 19 June 2009 forthe organisation’s thirdSportsfest.

Through games such astug-of-war, basketball,darts, billiards, bowling,table tennis and golf,

Keppel Batangas employeescompeted with those ofother BPTIPC’s members,sharing and bonding overmuch laughter and good-natured jibes.

“Through such fun-filledevents, we have not onlystrengthened our ties withour business partners andco-workers, but alsoestablished new friendships,”said Mr Israel Sanchez, HR& Administration Manager ofKeppel Batangas.

BPTIPC is an associationspearheaded by the regionalgovernment to promotecooperation and collaborationbetween the businesscommunity and laboursector in the Batangas area.keppelite

Mr Kok Boon Heng, President of Keppel Batangas (left), and Ms Agnes Barbara L. Lorenzo, VPof Administration & Finance, Keppel Philippines Marine (right), extend a warm welcome to thenew members of the Keppel family

The Keppel Batangas team with Batangas Vice Governor Marc Leviste (front row, fourth fromleft)

Empowering Lives 45


Enjoying the challenges andrewards of his work in oneof the region’s most soughtafter holiday destinationscertainly presents the bestof both worlds to MunirMuhammad Said.

Known affectionately by hiscolleagues as Moon, theMarina Consultant forNongsa Point Marina &Resort situated in idyllicBatam, Indonesia, knows heis one of few who can findboth job satisfaction andescape from the hustle andbustle of urban life inSingapore in one place.

With its 192 rooms and 65world-class berths, NongsaPoint Marina & Resort is partof Keppel Land’s portfolio ofhotels and resorts in theregion. Here, Moon’s area ofexpertise is wielded wherewater meets land – at thebrand new renovated marinafacilities.

Backed by seven years ofmarina-related experience,Moon was no stranger toNongsa Point Marina &Resort when he was firstposted there in May this year.Moon was a key member ofthe operations team at sistermarina, Marina at KeppelBay, also managed by KeppelLand, prior to his currentposting.

Keppelites Abroad

Bridging two worlds

Moon’s job scope is tocreate and implement aset of Standard OperatingProcedures (SOPs) for themarina’s new operationsteam. These include the day-to-day operations, use andmaintenance of the world-class pontoon systems builtby world-renowned marinabuilders, Bellingham Marine,w o r k s a f e t y a s p e c t s ,emergency procedures andother crew responsibilities.

Having worked in bothmarinas, Moon shared thatan important commonalityis the strong emphasison outstanding servicestandards – Marina at KeppelBay is the only marina inSouth-east Asia to bemanaged by a fully-trained

and qual i f ied mar inamanagement team.

To bring Nongsa PointMarina & Resort on par,Moon is keen to share theknowledge and experiencehe had accumulated throughthe training programmes heunderwent. Moon is certifiedwith the widely recognised‘Introduction to MarinaManagement’ course byMarina Industries Associationof Australia.

Moon shared, “I hope myexperience can aid in theprofessional development ofthe staff at Nongsa PointMarina & Resort and helpraise the level of service thatis offered to the boatingcommunity.”

Since his posting to Batam,Moon’s love of the sea hasgrown by leaps and bounds,especially in fishing! WhileMoon used to fish only usingrods, reels and hooks, he haslearnt from his colleaguesto employ other moretraditional methods such asspearing, laying ‘bubu’ (fishtrap) and ‘ben-to’ (crab trap),and even catching prawnwith unused pipes!

Moon encourages fellowKeppelites to take up anoverseas posting whengiven a chance. “Be it nearor far, an overseas postingsurely has its own set ofchallenges. Correspondingly,one will also learn and growfrom the new experiencesalong the way.” keppelite

Moon (right) stays buoyant and upbeat with support of colleagues at Nongsa Point Marina & Resort

46 Nurturing Communities


46 Empowering Lives

For fun and friendship,16 Keppelites fromKeppel Offshore & Marinerepresented Keppel RecreationClub (KRC) in the Associationo f S i n g a p o r e M a r i n eIndustry’s (ASMI) 17thbowling tournament at JurongSuperBowl on 28 June 2009.

A popular annual event, theASMI Bowling Tournamentwas once again met with anoverwhelming response this

Bonding over bowlingyear as a total of 30 teamscomprising 120 players pittheir bowling skills againstone another.

After a roll-off by Mr HoeEng Hock, ED of KeppelSingmarine and Vice-President of ASMI and fourrounds of games, the KRCteams did themselves proudby winning second and thirdplace for the team event.keppelite

31 July will see fighting-fitKeppelites take the first swingat winning the covetedOverall Keppel GamesChampionship Cup at theannual Games – beginningwith the Keppel Offshore &Marine Golf Challenge.

The golf event will kickstarta three-month long series ofintense competitions intoaction.

The three teams – Atlantic,Caspian, and Pacific –comprising mixed groupingsof the various business unitswithin the Keppel Group,have already started to sweatit out at trainings for thevarious games.

The games in swingIvan Teo, Chairman of KeppelGames 2009 organisingcommittee, shared, “We hopeto encourage sportsmanship,

camaraderie, and friendshipnot just within the teams,but ultimately across differentall the business units.”

To register, contact yourteam manager today. Formore information, visitwww.keppelscholars.com.keppelite

Event Date Venue

Golf 31 July National Service Resort and Country Club

(Kranji Sanctuary)

Basketball 2 August Singapore Basketball Centre

Futsal 16 August The Cage

Darts 30 August Serangoon Garden Country Club

Pool 6 September Pool Fusion

Bowling 13 September Orchid Bowl @ Orchid Country Club

Table tennis 27 September Republic Polytechnic

Badminton 4 October Choa Chu Kang Sports Hall

Kep-Walk! 18 October East Coast Park

The 17th ASMI Bowling Tournament was a hit again this year

Nurturing Communities 47


volunteers


Keppel

Pride on paradeEvery year, the SingaporeNational Day Parade (NDP)Preview is a highly anticipatedevent attended by the KeppelVolunteers and students fromthe Association for Personswith Special Needs (APSN),Keppel’s adopted charity.

This year, brandishing thesame badge of pride, theKeppel troop marchedshoulder to shoulder withpeople from all walks of life,coming together as oneunited people to celebrateSingapore’s birthday.

Held at the Float@Marinaon 11 July 2009, they wereamong the first to catch anexciting glimpse of the NDPrehearsals.

The slight drizzle before theshow did not dampen theirspirits as it soon gave way toa splash of rainbow acrossthe sky which aptly reflectedthis year’s National Daytheme, “Come Together –Reaching Out, ReachingUp”.

Spectacular jumps by theRed Lions parachutists setoff the 10-chapter showwhich offered a series ofvisual treats without a pause.Among them was a thrilling15-minute Total Defence drillsimulation that showcasedan impressive range of the

Singapore Armed Forces andthe Home Team’s capabilities.

Another highlight was the21-gun Presidential Salutethat was held for the first timeon a specially constructedfloating platform. Theceremony, which waspunctuated by cannon shots,was clearly a crowd favouritejudging from the wild cheersthat grew louder with eachreverberating boom.

As evening descended,magnificent burst of lightsand colours on the stageadded to the night an airof enchantment. Swayingflickers of light from theaudience’s heart-shapedtorches that came with thefunpacks also lent a magicalaura to the atmosphere.

The evening culminated ina long-anticipated showerof fireworks, along withan unexpected torrentialdownpour. Despite thesudden return of rain, itwas evident from the

bright smiles on the students’faces that the fun and joyof spending an enjoyableevening with KeppelVolunteers were far fromextinguished. keppelite

Heart-felt celebration of Singapore’s 44th National Day

Keppel Volunteers and the students shared heartfelt moments of joy at the NDP Preview

Nurturing Communities

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Prin

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Keppel secures WTE technologycontract in TianjinKeppel Integrated Engineering(KIE), through KeppelSeghers, has secured a11 million (approximately

S$22.3 million) contract toprovide technology to awaste-to-energy plant (WTE)in Hangu, Tianjin, China. Thecontract was awarded byTianjin Binhai EnvironmentalIndustry Development Ltd.

Located in Binhai Technical &Economic Development Area(TEDA), Tianjin, the plant willhave three incineration lineswhich will be able to treat1,500 tonnes of municipal

waste per day (combinedcapacity) to generate morethan 20 MW of greenenergy.

The plant is expected tobe operational in 2011.Keppel Seghers will provideequipment for the furnace,boiler and flue gas cleaningcomponents of plant.

Mr Chua Chee Wui, CEO ofKIE, said, “Having gainedmomentum in China’s WTEmarket as the leader forimported WTE solutions,we are pleased to make

further inroads by providingproven, effective greentechnology for managingw a s t e p ro d u c e d b yb u r g e o n i n g c i t i e s i nChina.”

Latest figures from China’smegacities, like Beijing andShanghai, show the urgencyof China’s waste problem.Just recently, Beijing’smunicipal administrationcommission warned that atthe current rate of wasteproduction, Beijing’s 13landfills will be full in “fourto five years”.

KIE is currently the marketleader for imported waste-to-energy solutions in China, with60% share of the market.

Earlier in March this year,Keppel Seghers was alsoawarded a S$30 millioncontract to providetechnology to a WTE plant inJinan, Shandong, by RiselandHoldings, a subsidiary ofEverbright International. Theplant will be able to treat2,000 tonnes of municipalwaste per day, making it oneof the largest WTE plants inChina. keppelite

As the market leader of imported WTE solutions for China, KIE is well-poised to help Chinese cities manage their environmental challenges posed by waste. The WTE plant in Nanshan, Shenzhen,is one of the many projects that KIE has completed in China

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