Roar - SPC
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A Quarterly <strong>SPC</strong> Newsletter<br />
Issue 4 2008<br />
p5<br />
<strong>SPC</strong> acquires its first<br />
onshore block<br />
p8<br />
Being a<br />
good sport<br />
p10<br />
How green are you?<br />
p14<br />
FaRmily Fun
A Quarterly <strong>SPC</strong> Newsletter Issue 4 2008<br />
Editorial<br />
Forging closer ties with China<br />
<strong>SPC</strong>’s success as a strong, integrated oil and gas company against the<br />
backdrop of Singapore’s rapid economic development has attracted<br />
attention from countries near and far, including China. This is evident<br />
from two high-profile visits by Guangdong dignitaries recently.<br />
On 15 September 2008, Guangdong GuangYe Assets Management<br />
Co., Ltd. (Guangdong GuangYe) visited the <strong>SPC</strong> head office and toured<br />
its storage and terminalling facilities at Pulau Sebarok. Guangdong<br />
GuangYe manages the state-owned assets of the Guangdong<br />
government. The delegation of senior management executives was led<br />
by Mr Wu Liang, Chairman of Guangdong GuangYe. This was Mr Wu’s<br />
second visit to <strong>SPC</strong> since 2007. The delegates were warmly received by<br />
<strong>SPC</strong> CEO Mr Koh Ban Heng and his management team, who gave the<br />
group an overview of <strong>SPC</strong>’s business activities.<br />
(From left) Mr Lim Chee Onn, Chairman,<br />
Keppel Corporation and <strong>SPC</strong> Chairman<br />
Mr Choo Chiau Beng, gave a warm<br />
welcome to Mdm Zhang Xiaokang,<br />
China’s Ambassador to Singapore and<br />
Mr Wang Yang, Guangdong Party Secretary.<br />
The following day saw Mr Wang Yang, Guangdong Party Secretary<br />
and Mdm Zhang Xiaokang, China’s Ambassador to Singapore, leading<br />
20 top officials from the South China province to the Singapore<br />
Refining Company (SRC). This was Mr Wang’s first visit to Singapore<br />
since his appointment as Guangdong Party Secretary in 2007. Keppel<br />
Corporation’s Chairman Mr Lim Chee Onn, <strong>SPC</strong> Chairman Mr Choo<br />
Chiau Beng and Mr Koh met the group to show them around the<br />
refinery. Besides the SRC, the delegation also visited the ChemGallery<br />
on Jurong Island as part of their four-day visit to learn about Singapore’s<br />
economic development.<br />
With China fast becoming an economic powerhouse, <strong>SPC</strong> looks forward<br />
to exploring growth opportunities with its Chinese counterparts.<br />
Looking at the headlines these days, it is not easy to find a piece of<br />
good news. With the doom and gloom reported everywhere, it seems<br />
that things will get even gloomier this year of the Ox. So when I was<br />
asked to do an editorial for this issue of ROAR, I wondered what I could<br />
share that is cheerful and would lighten up the mood. It actually wasn’t<br />
so difficult after all. By nature I am always inclined to look at the bright<br />
side of things. That is not to say that I am oblivious to the “dark” side.<br />
Feeling gloomy does little to help us overcome the bad situations that<br />
we may find ourselves in. With that in mind, let me share some of the<br />
cheers that we have in <strong>SPC</strong>.<br />
The Company organises regular recreational events for us all to enjoy<br />
time-out and build camaraderie with colleagues and family members.<br />
Activities such as movie screenings, overseas holiday trips, bowling<br />
tournaments, paintball games, annual family day for staff and dinner<br />
and dance as well as long service award luncheon, have always<br />
played to full house. We don’t just bring cheers to ourselves but also<br />
endeavoured to share that with the less privileged in our community.<br />
These included the annual Chinese New Year lunch for the elderly,<br />
an outing for underprivileged children to the Singapore Flyer and our<br />
participation in various charity and fund-raising events. So in the cheer<br />
department, we do serve up a varied menu and more than a plateful.<br />
Amidst the gloom last year, the <strong>SPC</strong> Group has also won many<br />
awards. We won the SIAS corporate governance award for the sixth<br />
consecutive year, the Energy Company of the Year (Gold award) for the<br />
second time, a joint third position for the Best Managed Board, and<br />
last but not least a first ever investor relations award. In the upstream<br />
business, we have also much to cheer about as we continue to grow<br />
our portfolio by winning 100% operatorship for the Mahakam Hilir<br />
block and setting up our China branch office in Shekou.<br />
2009 marks <strong>SPC</strong>’s 40 th anniversary. Having journeyed through the ups<br />
and downs with the Company for so many years, I can assure you that<br />
there is a lot to roar and cheer about in <strong>SPC</strong>. ROAR will be launching<br />
a special edition this year to pay tribute to all of you who have served<br />
the Company so loyally all these years. With the team that we have, I<br />
am sure we have the resilience to look on the bright side and continue<br />
to forge ahead and celebrate more successes.<br />
Remember, when you smile the whole world smiles with you. So, let us<br />
spread our smiles around, both in and out of the office and be of good<br />
cheer and spirit in this year of the Ox.<br />
Cheers!<br />
Doris Tan<br />
General Manager<br />
Human Resource & Administration<br />
2<br />
3
A Quarterly <strong>SPC</strong> Newsletter Issue 4 2008<br />
FY2008 results<br />
<strong>SPC</strong> reported its full year 2008 financial results on 20 January<br />
2009 and delivered a credible performance amidst a turbulent<br />
2008. Revenue increased 26.9% to a record $11.1 billion and PATMI<br />
(Profit After Tax and Minority Interests) was $229.7 million, a 55.4%<br />
decrease from a year ago, mainly on account of the weaker demand<br />
for refined products seen in the second half year. Despite a difficult<br />
year, the <strong>SPC</strong> Group achieved a return on equity of 13.1% in 2008.<br />
Earnings per share decreased from 99.9 cents per share to 44.61<br />
cents per share for the year 2008.<br />
In view of this commendable performance and to continue rewarding<br />
shareholders, the Board is recommending a final dividend of eight<br />
cents per share. This, coupled with the Group’s interim ordinary<br />
dividend that was paid in August 2008, would bring the total<br />
dividends for the financial year 2008 to 28 cents per share or a<br />
payout ratio of about 63% of PATMI.<br />
Commenting on the results, <strong>SPC</strong> CEO Mr Koh Ban Heng said, “In<br />
2000, <strong>SPC</strong> ventured into the exploration and production (E&P)<br />
sector to diversify its earnings base for long-term sustainability.<br />
Today, this strategy has achieved tangible results. Over the past few<br />
years, <strong>SPC</strong>’s E&P business has grown from strength to strength.<br />
The upstream business contributed about 40% of the Group’s 2008<br />
after-tax earnings. We have exceeded our near term target to have<br />
E&P contribute at least 30% of the Group’s bottom-line well ahead<br />
of our initial schedule.”<br />
While the global financial crisis had affected the Group’s<br />
performance adversely in 2008, <strong>SPC</strong> will continue to review all its<br />
capital investments and operating expenditures to ensure that these<br />
make economic sense in the current difficult environment. With low<br />
gearing and no long-term borrowings to be re-financed, the Group<br />
is financially robust and will be able to remain resilient in the face<br />
of the current economic downturn. Despite the difficult operating<br />
environment, the Group will continue to invest prudently to benefit<br />
from opportunities that may arise from the current downturn.<br />
<strong>SPC</strong> acquires its first<br />
onshore block<br />
In November 2008, the Indonesian<br />
government put up 29 oil and<br />
gas exploration and production<br />
(E&P) acreages worth US$891.8<br />
million for bidding. <strong>SPC</strong> was one<br />
of the successful bidders. The<br />
Company entered into a Petroleum<br />
Production Sharing Contract (PSC)<br />
with BPMIGAS, an Indonesian<br />
state-owned legal entity, to explore<br />
the Mahakam Hilir Block.<br />
The Block, covering approximately 344.14 square kilometres, is<br />
located onshore in the Kutai Basin in East Kalimantan. Located in one<br />
of Indonesia’s largest and most prolific oil and gas producing basins,<br />
the Mahakam Hilir block is <strong>SPC</strong>’s third asset in Indonesia, in addition<br />
to the Kakap and Sampang PSCs.<br />
As the Block’s 100% operator, <strong>SPC</strong> is committed to conducting seismic<br />
studies and exploration drilling to assess the potential of the acreage.<br />
With this latest addition, the Company now has a total of nine PSCs and<br />
one exploration permit, of which four are producing assets while the<br />
rest are at the exploration stage.<br />
A signing ceremony to mark the award to bidders was held in Jakarta,<br />
Indonesia on 13 November 2008.<br />
Kuala Lumpur<br />
Singapore<br />
Bandar Seri Begawan<br />
Mahakam Hilir<br />
The signing ceremony marking the<br />
acquisition was held in Jakarta.<br />
On the operatorship of its first onshore block, <strong>SPC</strong> CEO Mr Koh Ban<br />
Heng said, “This investment is in line with <strong>SPC</strong>’s plan to grow its E&P<br />
business, and participate in the entire oil and gas value chain.” He added,<br />
“The integration of <strong>SPC</strong>’s businesses will strengthen our earnings in the<br />
long-term and in many ways, validate our E&P growth.”<br />
First upstream<br />
office in China<br />
With the rapid development of <strong>SPC</strong>’s<br />
exploration and production (E&P)<br />
activities in China, <strong>SPC</strong> has set up<br />
its first upstream branch office in<br />
Shenzhen, China. A good number<br />
of Chinese government officials,<br />
along with a representative from<br />
International Enterprise Singapore<br />
The inauguration dinner<br />
provided excellent networking<br />
opportunities to build<br />
relationships.<br />
(Guangzhou Centre) as well as <strong>SPC</strong>’s business partners and<br />
associates, attended the grand opening of the office in Shenzhen<br />
on 22 September 2008.<br />
<strong>SPC</strong> E&P (China) Pte Ltd was established to operate and manage<br />
<strong>SPC</strong>’s E&P assets in China, namely Block 26/18 in the Pearl River<br />
Mouth Basin and Blocks 04/36 and 05/36 in Bohai Bay. With these<br />
three Chinese blocks, <strong>SPC</strong> continues to strengthen its strategic<br />
partnership with China National Offshore Oil Company (CNOOC),<br />
a relationship established since <strong>SPC</strong>’s formative days when its<br />
businesses were exclusively downstream in nature. Currently, the<br />
Bohai blocks are <strong>SPC</strong>’s largest producing asset.<br />
A ribbon-cutting ceremony was held at the new office located<br />
at Times Plaza. The event was officiated by <strong>SPC</strong> and CNOOC,<br />
witnessed by about 20 distinguished guests. A dinner reception<br />
followed at Kempinski Hotel, Shenzhen for more than 70 guests<br />
who came to celebrate the happy occasion.<br />
In Loving Memory of<br />
The late Chris Keong Poh Guan<br />
(24 April 1953 - 21 October 2008)<br />
Former Senior Vice-President, Marketing<br />
Jakarta<br />
The opening of the upstream office marked <strong>SPC</strong>’s confidence<br />
in China’s rapid development into a major oil and gas producing<br />
country. <strong>SPC</strong> endeavours to work closely with CNOOC to ensure<br />
the sustainable development of China’s oil resources.<br />
Dearly remembered by <strong>SPC</strong> colleagues<br />
The Mahakam Hilir acreage in Indonesia is <strong>SPC</strong>’s first onshore block.<br />
4<br />
5
A Quarterly <strong>SPC</strong> Newsletter Issue 4 2008<br />
<strong>SPC</strong> wins recognition<br />
for investor relations<br />
<strong>SPC</strong> CFO Mr Lee Chiang Huat<br />
was proud to receive the award<br />
from Mr Chris Kearns, Regional<br />
Manager for Asia-Pacific, The<br />
Bank of New York Mellon.<br />
The roar from the iconic leaping lion of<br />
<strong>SPC</strong> came across loud and clear when<br />
it was announced at the IR Magazine<br />
South East Asia Awards 2008 that the<br />
Company clinched the ‘Most Progress<br />
in Investor Relations - Small or Midcap’<br />
title.<br />
It marked a giant leap of confidence<br />
and achievement for <strong>SPC</strong>, being the<br />
top company in Southeast Asia for<br />
this category, considering the current<br />
trying economic situation. The annual<br />
IR Magazine Awards event has been<br />
widely recognised as the most accurate<br />
and valid measure of excellence in<br />
investor relations. The monthly UK-based magazine of 20 years is one<br />
of the most respected publications in the market, covering all areas<br />
in the field of investor relations. It is also a proud host of awards and<br />
conferences in countries that includes Australia, Canada, continental<br />
Europe, Hong Kong, Taiwan, the Nordic Region, the UK and the US. The<br />
IR Magazine South East Asia Awards, now into its fourth year, has been<br />
polling investors and analysts globally for the best in investor relations<br />
in Southeast Asian companies.<br />
The event also presented other general awards in several categories,<br />
honouring leading companies across Singapore, Malaysia, Indonesia,<br />
Thailand and the Philippines. The winners were determined based on<br />
the results of a survey with over 5,000 investors and analysts from<br />
more than 14 countries worldwide covering the Asian market.<br />
<strong>SPC</strong> was nominated in the small or mid-cap category as having achieved<br />
the most progress in investor relations, alongside heavyweights like<br />
Banyan Tree Holdings and CapitaCommercial Trust Management. <strong>SPC</strong><br />
was announced the winner of this title at the award ceremony held over<br />
a conference and luncheon at the Mandarin Oriental Singapore on 14<br />
November 2008.<br />
Undoubtedly the Company’s spirit in advocating transparency and<br />
engaging investors and analysts actively has won it many votes.<br />
“This award is a pleasant vindication of our IR team efforts. Together<br />
with our Business Units, we will strive to achieve even more in the IR<br />
space,” said Mr Lee Chiang Huat, <strong>SPC</strong> CFO who leads the IR team.<br />
The lion will roar even louder.<br />
Exploring global<br />
opportunities<br />
<strong>SPC</strong> CFO Mr Lee Chiang Huat<br />
introducing the <strong>SPC</strong> exhibits to<br />
Mr S Iswaran, Senior Minister of<br />
State for Trade and Industry.<br />
The exhibition served as a platform<br />
for the E&P team to profile their work<br />
to local and foreign visitors for possible<br />
business opportunities.<br />
Suntec Singapore became a hive of activity for the oil and gas fraternity<br />
when OSEA, Asia’s biggest oil and gas exploration and production industry<br />
exhibition and conference, came to town on 2 December 2008.<br />
This was the 17 th time that the event was held and the largest in scale<br />
since its inauguration in 1976. As the only integrated oil and gas<br />
company in Singapore, <strong>SPC</strong> took the opportunity at OSEA to showcase<br />
its business activities, especially its upstream portfolio, which has<br />
grown rapidly across the Asia-Pacific region.<br />
With more than 15,000 industry professionals and government<br />
officials from over 60 countries attending the four-day event, OSEA<br />
was a remarkable global networking platform for <strong>SPC</strong> to explore<br />
new oil and gas business opportunities, as well as expand its market<br />
presence worldwide.<br />
A faithful friend<br />
of the arts<br />
(Left) Mr Kevin Siak, Manager,<br />
Customer Relationship<br />
Management receiving the<br />
award from Dr Lee Boon<br />
Yang, Minister for Information,<br />
Communications and the Arts.<br />
As an avid sponsor of arts activities, <strong>SPC</strong> was recognised as a ’Friend<br />
of the Arts’ at the National Arts Council’s 2008 Patron of the Arts Award<br />
Ceremony on 21 October 2008.<br />
The evening event held at the Esplanade Theatre was graced by Dr Lee<br />
Boon Yang, Minister for Information, Communications and the Arts.<br />
An encouraging number of 291 sponsors comprising 262 organisations<br />
and 29 individuals contributed close to $37 million in cash and kind<br />
to the Singapore arts scene in 2007. This robust support from patrons<br />
enabled arts groups across Singapore to bring creativity and a new<br />
dimension of originality to the local arts scene through outreach events<br />
such as arts education, exhibitions, musicals, arts infrastructure,<br />
festivals and international arts showcases.<br />
Since <strong>SPC</strong>’s early days, the Company has been a loyal supporter of the<br />
Singapore Symphony Orchestra. In 2007, <strong>SPC</strong> sponsored the Singapore<br />
Symphony Orchestra’s China Tour where local musicians performed<br />
across five Chinese metropolis. The Singapore Chinese Orchestra<br />
and the Majlis Pusat Cultural Night were also <strong>SPC</strong>’s sponsorship<br />
beneficiaries. As a devoted supporter of the Singapore arts scene, <strong>SPC</strong><br />
has consistently been receiving recognition at the annual Patron of the<br />
Arts Award Ceremony.<br />
Energy star<br />
Amid the unpredictable oil prices in 2008, <strong>SPC</strong>’s resilience was<br />
acknowledged by the industry as it garnered its second award for<br />
excellence in the energy business, competing with energy giants in Asia.<br />
<strong>SPC</strong> collected the gold award for ‘Energy Company of the Year’ for the<br />
second year running, retaining the accolade it won in 2007 at the Energy<br />
Business Awards, Asia (EBAA) which was held in conjunction with the<br />
Asia Pacific Petroleum Conference (APPEC).<br />
The EBAA was first introduced in 2007 to honour companies in the<br />
region which have contributed significantly to the development of the<br />
energy business.<br />
The APPEC is a highly-acclaimed energy forum in Asia which has, since<br />
1985, been bringing industry players together annually to shed light on<br />
the prospects and challenges in the energy business.<br />
The 24 th APPEC was held at Raffles City Convention Centre from 21 to<br />
23 October 2008. At the opening ceremony of the forum, <strong>SPC</strong> received<br />
its gold award from Mr Linus Koh, President & COO of Singapore<br />
Mercantile Exchange.<br />
Ms Foo Jang See, <strong>SPC</strong> Senior Vice-President of Crude and Products Trading receiving the<br />
gold award from Mr Linus Koh, President & COO of Singapore Mercantile Exchange.<br />
6<br />
7
A Quarterly <strong>SPC</strong> Newsletter Issue 4 2008<br />
Being a good sport<br />
Heavy rains loomed in Brunei Darussalam, but they certainly did not<br />
dampen the high spirits of some 350 sports enthusiasts from the<br />
ASEAN national oil companies at the 22 nd ASCOPE Games.<br />
ASCOPE, which stands for “ASEAN Council on Petroleum”, was born in<br />
1975 to forge closer cooperation among ASEAN countries on oil and<br />
gas matters. From the initial five countries of which <strong>SPC</strong> represents<br />
Singapore, ASCOPE has now expanded to 10 ASEAN member<br />
countries assembling regularly through meetings and conferences to<br />
promote collaboration and discuss developments in the petroleum<br />
industry. <strong>SPC</strong> Chairman Mr Choo Chiau Beng and CEO Mr Koh Ban<br />
Heng attended the last ASCOPE National Committees Meeting for<br />
2008 in Malaysia on 20 August (see side story).<br />
The ASCOPE Games is another initiative that fosters friendship and<br />
strengthens the unity of the member countries. PetroleumBRUNEI<br />
hosted the 22 nd ASCOPE Games from 22 to 26 October 2008.<br />
Apart from the host, <strong>SPC</strong>, Pertamina, Petronas, PNOC and PTT also<br />
participated in the Games. <strong>SPC</strong> sent in three teams to compete<br />
in golf, badminton and bowling. Mr Choo and Mr Koh were at the<br />
Games to cheer the teams on.<br />
Though <strong>SPC</strong> did not win any medal, it was the Asean togetherness and<br />
spirit that mattered.<br />
The relief formula<br />
A joint cooperative agreement among <strong>SPC</strong>, PETRONAS,<br />
PERTAMINA, PTT and PNOC was signed at the 67 th ASEAN<br />
Council on Petroleum (ASCOPE) National Committees Meeting in<br />
Kuala Lumpur, Malaysia recently.<br />
Under this Resource Matrix Guiding Principle Document agreement,<br />
participating countries would deploy the required emergency<br />
resources to a member country when it has exhausted all its<br />
local resources in the event of a crisis. Aimed at enhancing each<br />
member’s crisis response capabilities, such collaborative effort is<br />
intended to build up the collective strength of ASCOPE members.<br />
The ASCOPE meeting held in Malaysia from 20 to 25 August was<br />
the second National Committees meeting for 2008 after a first in<br />
Bali, Indonesia in April. <strong>SPC</strong> is an active participant of ASCOPE,<br />
with key representations across all its working committees.<br />
Below:<br />
Besides the National Committees Meeting, ASCOPE members also meet<br />
at the Council Meeting annually to review past year’s activities and provide<br />
recommendations. <strong>SPC</strong> Chairman and CEO led the Singapore delegation to attend<br />
the 34 th ASCOPE Council Meeting in Malaysia on 30 November 2008.<br />
Right:<br />
After several days of intense competition at the games, participants finally loosened up<br />
at the finale dinner and enjoyed themselves through the night.<br />
8<br />
9
A Quarterly <strong>SPC</strong> Newsletter Issue 4 2008<br />
EHSS Quiz 2008<br />
1) Identify three hazards at your workplace.<br />
a)<br />
b)<br />
c)<br />
2) The United Nations Number for petrol is _____________ and<br />
the Hazard Information Emergency Code is ______________.<br />
3) When is “Bring Your Own Bag Day (BYOBD)”?<br />
a) Every first Wednesday of the month<br />
b) Every Wednesday of the week<br />
c) Every last Wednesday of the month<br />
4) Name three safety precautions to take when filling petrol at the<br />
service stations.<br />
a)<br />
b)<br />
c)<br />
5) The Workplace Safety and Health Act (WSHA) replaces the<br />
Factories Act, with effect from ___________ (dd/mm/yyyy).<br />
Its subsidiary legislation, Workplace Safety and Health<br />
(Risk Management) regulation, came into operation on<br />
___________ (dd/mm/yyyy).<br />
6) Which of the following is NOT a greenhouse gas?<br />
a) Water Vapour b) Methane c) Hydrogen<br />
7) Which substance will cause Ozone depletion?<br />
a) Chloro Fluoro Carbon (CFC) b) Carbon Dioxide c) Nitrogen<br />
8) List three activities which can help conserve energy at your<br />
workplace and briefly explain how you would implement them.<br />
a)<br />
b)<br />
c)<br />
9) Every hazardous product requires a SDS. What is SDS?<br />
a) Safety Data Sheet<br />
b) Safety Data Specifications<br />
c) Safety Demonstration Specialists<br />
10) In Singapore, the permissible sulphur content for automotive<br />
diesel is ____________ ppm.<br />
How green are you?<br />
<strong>SPC</strong> continues its efforts in promoting environmental awareness to<br />
its employees with the launch of a green quiz on 18 September 2008.<br />
An initiative by the Environment, Health, Safety and Security (EHSS)<br />
Committee, the EHSS Quiz 2008 also welcomed entries from service<br />
station staff and contractors.<br />
Six winners emerged after a month-long battle. Congratulations and well<br />
done to all our winners!<br />
Position Name department<br />
1 st Suresh P Sivanandam Manufacturing<br />
2 nd Nah Wenbin Exploration & Production<br />
3 rd Daing Alwee Pulau Sebarok Terminal<br />
4 th Tan Yeen Voon Exploration & Production<br />
5 th Teh Chee Hang Pulau Sebarok Terminal<br />
6 th Garett Lim Choon Lam Lubricant Sales<br />
Are you also ‘green’ enough to take on the quiz? Try the questions and see<br />
if you can fare as well as the winners.<br />
Answers are found at the end of this page.<br />
Good luck!<br />
Answers:<br />
1) Hazard is defined as anything with the potential to cause harm.<br />
Some examples: Electrical wires on the office floor; blind corners around cubicles<br />
2) 1203; 3[Y]E<br />
3[Y]E means:<br />
First prize winner Mr Suresh<br />
P Sivanandam from Manufacturing<br />
(right) receiving his prize from<br />
Mr Lim Swee Yong, EHSS Manager.<br />
3 – Foam<br />
[Y] – Violent Reaction Possible, BA required if product is on FIRE.<br />
E – Consider Evacuation<br />
(This sign is displayed on most of the petroleum road tankers in Singapore)<br />
3) b) Every Wednesday of the week (Giant at Vivo City has such a signage at the checkout counter)<br />
4) a) Switch off the engine (by law)<br />
b) No naked flame (by law)<br />
c) Do not smoke (by law)<br />
d) Do not use mobile phone (industry self-regulation)<br />
5) 01/03/2006; 01/09/2006<br />
6) c) Hydrogen<br />
7) a) Chloro Fluoro Carbon (CFC)<br />
8) Some examples: Turn off electrical appliances when not in use; Use energy saving bulbs<br />
9) a) Safety Data Sheet<br />
10) 50<br />
Mr Koh and Associate Professor<br />
Nilanjan Sen, Associate Dean of<br />
Nanyang Executive Education,<br />
sealed a partnership for <strong>SPC</strong><br />
staff development.<br />
The nine-module <strong>SPC</strong> Leadership Program for<br />
senior executives and managers held its first<br />
lesson in November 2008 at the Nanyang<br />
Executive Centre.<br />
Leaders in the making<br />
Did you know that leadership is neither confined to position nor limited<br />
by experience?<br />
In line with its human capital strategy to cultivate potential leaders,<br />
<strong>SPC</strong> has inked a leadership series with the Nanyang Business School of<br />
Nanyang Technological University to develop and enhance the leadership<br />
skills of its employees. The <strong>SPC</strong> Leadership Series consists of three<br />
courses: <strong>SPC</strong> Management Programme, <strong>SPC</strong> Leadership Programme<br />
and <strong>SPC</strong> Advanced Leadership Programme, that would serve executives,<br />
middle and senior managers, respectively. The courses will be delivered<br />
over the course of two years, until mid-2009.<br />
On the initiation of the joint effort, <strong>SPC</strong> CEO Mr Koh Ban Heng<br />
highlighted the Company’s strong partnerships with local universities<br />
for talent development at the signing ceremony on 18 September<br />
2008. <strong>SPC</strong> has been working closely with the National University of<br />
Singapore to nurture a pool of homegrown oil and gas specialists.<br />
<strong>SPC</strong> is now partnering the Nanyang Business School, selected<br />
for its high academic standards in executive training, for<br />
leadership development.<br />
Showing compassion<br />
Suppose you heard on the radio about<br />
a fire that had just broken out at a<br />
production plant. You have a family<br />
member who works there. What would<br />
you do? Call the company to confirm<br />
the incident and find out if anyone<br />
was hurt?<br />
Now, imagine how the company’s<br />
telephone lines would be flooded with<br />
calls from the next-of-kin (NOK) and how<br />
it would have to deal with the people<br />
gathered at the site, seeking information<br />
about the fire and their loved ones.<br />
Dr Victor Tai dotted his<br />
presentation with real case<br />
examples to enhance the<br />
participants’ understanding of<br />
the topics.<br />
During an emergency situation, NOK management is critical and integral<br />
to crisis response. Anger, confusion and uncontrollable anxiety from the<br />
families are some emotional outcomes that the company may have to<br />
grapple with. Having the appropriate skills to render assistance to the<br />
families will ease the pain caused by any tragedy.<br />
<strong>SPC</strong> recognises the challenges of NOK management. To equip its<br />
employees with the necessary skills to assist the family members, <strong>SPC</strong><br />
engaged a well-qualified and experienced psychologist, Dr Victor Tai, to<br />
conduct a one-day NOK management course on 11 November 2008.<br />
Dr Tai has been a Certified Senior Management Consultant at Psyscan<br />
Consulting International for 25 years. He is also the Senior Consultant<br />
Psychologist at Adam Road Hospital for 12 years. In his previous<br />
employment of almost 10 years, Dr Tai was Chief Psychologist at the<br />
Ministry of Defence. Dr Tai also held top positions as President of the<br />
Singapore Psychological Society and Deputy Chairman of the Singapore<br />
Professional Centre and was a founding member of the Singapore<br />
Society for Executive Health and the Singapore Society of Counselling.<br />
Using real life examples and an acute sense of humour, Dr Tai fuelled<br />
the participants’ interest in topics which enabled them to identify<br />
typical psychological reactions during a crisis, identify and manage grief<br />
responses, and be armed with basic counseling skills. These skills and<br />
knowledge can likewise be applied in their daily lives.<br />
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A Quarterly <strong>SPC</strong> Newsletter Issue 4 2008<br />
Forest in the city<br />
Park volunteers accompanied the group to educate them on the plants that they<br />
encountered along the way.<br />
Participants were enthralled by the greenery that greeted them along the walk.<br />
These six nominees were up for another round of voting to determine the top three<br />
places.<br />
(From left) The final winners were Ms Lim Lay Hoon (second prize), Ms Patsy Wong<br />
(first prize) and Mr See Sing Mun (third prize).<br />
A balmy Saturday morning on 15 November 2008 saw some 80 <strong>SPC</strong><br />
staff and their family members donning their walking gear for a<br />
scenic walk through the Southern Ridges, a rustic forest rich in flora<br />
and fauna nestled in southwest Singapore. This was the GreenSteps -<br />
a green activity organised by <strong>SPC</strong> for its staff to promote<br />
environmental consciousness and enjoy greenery despite living in a<br />
proverbial concrete jungle.<br />
Accompanied by experienced nature guides from the National Parks<br />
Board, the participants commenced the nine-kilometre walk from<br />
Henderson Waves – Singapore’s highest pedestrian bridge that<br />
connects the two hills of Mount Faber and Telok Blangah Park. As<br />
they moved on, participants found themselves slowly entering into a<br />
leafy world where one could hear birds sing and see flowers bloom.<br />
Those with cameras were also busy taking shots of the refreshing<br />
flora and fauna surrounding them.<br />
Telok Blangah Hill offered a charm of its own. At the Forest Walk,<br />
rare species of flora and fauna could be seen. And once the<br />
participants crossed the Alexandra Arch – a leaf-like bridge with<br />
curved deck and tilted arch that stretches over Alexandra Road - a<br />
different vista unfolded. That was the HortPark, home to thematic<br />
gardens and amazing open spaces.<br />
At Southeast Asia’s first one-stop gardening hub, after a hearty<br />
lunch, some of the participants continued to tour HortPark on their<br />
own, while others proceeded to the Terrarium Workshop, where<br />
they learned to grow a garden in a bottle.<br />
There was a simple training session by the terrarium trainer for the<br />
23 participants. Then, they were all set to make their own bottled<br />
garden and vie for the title “<strong>SPC</strong> Green Fingers”.<br />
One contestant quipped, “We learned that there would be prizes<br />
to be won, so you can imagine the tension among us!” said Patsy<br />
Wong, Senior Executive Secretary.<br />
However, tension turned into a moment of surprise for Patsy when<br />
s h e w a s a n n o u n c e d t h e t o p w i n n e r o f t h e g r e e n f i n g e r s a w a r d .<br />
She added, “Being a plant lover, I am really happy with myself. I can<br />
now proudly say that indeed, I have green fingers!”<br />
The second and third places were won by family members of Rina<br />
Lim, Senior Administrative Assistant of Special Products, and<br />
See Sow Lai, Senior Secretary of Refining, Supply and Aviation,<br />
respectively.<br />
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A Quarterly <strong>SPC</strong> Newsletter Issue 4 2008<br />
In the Moo-d for<br />
Chinese New Year<br />
During Chinese New Year, perhaps the most popular dish is the raw fish<br />
salad, or yusheng, which is a symbol of abundance and prosperity.<br />
At the annual <strong>SPC</strong> Chinese New Year Lunch on 28 January 2009, over 200<br />
employees gathered at the Imperial Herbal Restaurant and tossed yusheng<br />
as high as they could to bring good fortune and wealth in the Year of the Ox.<br />
Auspicious wishes also went round each table as they tossed the yusheng<br />
high up in the air. Besides receiving good luck, the lunch gathering was also<br />
a great moment for the employees to catch up with one another.<br />
The entertaining performances received enthusiastic response from the audience.<br />
FARMily fun<br />
It was a morning of fun at the farms for about 300 <strong>SPC</strong> staff and their<br />
families on 7 December 2008. The <strong>SPC</strong> Family Day held in Lim Chu<br />
Kang offered them educational tours and entertaining performances.<br />
Getting up close to the goats and drinking fresh milk at the goat farm.<br />
Children trying their hands at the Mini <strong>SPC</strong> Challenge.<br />
Survivor of the fittest,<br />
and youngest?<br />
Young children jumping and running about, that’s a common sight.<br />
But can they sit still if they want to – for three minutes, at a go?<br />
Staff members might be in a festive mood, but they also did not forget<br />
to share joy and cheers with the elderly from various old folks’ homes.<br />
On 19 February 2009 at the Red Star Restaurant led by <strong>SPC</strong> Chairman<br />
Mr Choo Chiau Beng, some 45 <strong>SPC</strong> volunteers brought warmth and gifts<br />
to 190 residents from Indus Moral CARE, the Kreta Ayer Senior Activity<br />
Centre (Chin Swee Branch), Moral Home for the Aged Sick, Tai Pei Old<br />
Peoples’ Home as well as the Samsui Women and Elderly (Redhill). This<br />
was the fourth year that <strong>SPC</strong> supported the Chinese New Year Lunch with<br />
the Elderly, organised by the Singapore Women’s Association. Ms Ellen<br />
Lee, MP for Sembawang GRC (Woodlands), was the guest-of-honour.<br />
At the Hay Dairies Goat Farm, the families learnt about the health<br />
benefits of drinking goat milk. Their kids also had a jolly good time<br />
playing with the kids (baby goats). At the Kok Hua Vegetable Farm,<br />
families were introduced to vegetable farming and some of them<br />
even went home with bags of fresh vegetables and fruits bought from<br />
the farm. Perhaps the greatest challenge was encountered at the<br />
Crocodile Farm when they had to overcome their fear of the reptile<br />
by learning how to cuddle a baby crocodile in their arms for the rare<br />
photo opportunities.<br />
By noon, the merry-makers were all ready to fill their stomachs with<br />
yummy food while keeping their eyes glued on performances such as<br />
magic show and balloon sculpting.<br />
Fresh produce at the vegetable farm.<br />
Children as young as two years old proved that they could at the Mini <strong>SPC</strong><br />
Challenge. With tiny hands placed firmly on palm-shaped decals on a toy car<br />
for at least three minutes, many walked away with a prize.<br />
The mini challenge was one of the activities that <strong>SPC</strong> organised in<br />
conjunction with the Subaru Impreza Challenge held at Ngee Ann City Civic<br />
Plaza from 8 to11 November 2008. The original version of the mini challenge<br />
was however a lot more demanding, both physically and mentally.<br />
Into its seventh year, the Subaru Impreza Challenge saw 40 participants<br />
from Hong Kong, Malaysia, the Philippines and Thailand placing their palms<br />
on Subaru Impreza cars in an endurance challenge. They were deprived of<br />
sleep and given only five minutes break once every six hours to eat and use<br />
the toilet.<br />
<strong>SPC</strong> volunteers helping the elderly to get<br />
off from the coach safely.<br />
A <strong>SPC</strong> volunteer having a chat with the<br />
elderly to learn about her life experience.<br />
Who would have thought that a barnyard full of fun is possible in this<br />
city of glass and concrete!<br />
A test of bravery at the crocodile farm.<br />
After enduring 81 hours 32 minutes, the winner finally emerged and went<br />
home with a Subaru Impreza and $3,000 <strong>SPC</strong> vouchers. <strong>SPC</strong> also sponsored<br />
vouchers worth $2,000 for the first runner-up and $1,000 for the second<br />
runner-up.<br />
<strong>SPC</strong> Chairman Mr Choo Chiau Beng giving out<br />
special ang pows to some senior citizens who<br />
are at least 90 years old.<br />
Ms Ellen Lee, MP for Sembawang GRC<br />
(Woodlands) (second on the left) also took time<br />
out to spend some joyful moment with the elderly.<br />
14<br />
15
Editorial Committee<br />
Lee Chiang Huat (Chief Editor)<br />
Andarina K. Sumarnu<br />
Elaine Ang<br />
Gan Dong Lee<br />
Herman Ng<br />
Joey Ho<br />
Kevin Siak<br />
Soon Boon Hoe<br />
Suresh Pitty Sivanandam<br />
Tan Poh Lay<br />
Tan Yeen Voon<br />
Get Quality. Use <strong>SPC</strong>.<br />
Singapore Petroleum Company Limited<br />
1 Maritime Square #10-10<br />
HarbourFront Centre<br />
Singapore 099253<br />
Tel : 6276 6006<br />
Fax : 6275 6006<br />
http://www.spc.com.sg<br />
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