keppelite february 2013 issue - tj giavridis marine services co. ltd.

12 Sustaining Growth...continued from page 11.The Group’s consistent growth in earnings and creditable ROE and dividend are testament to its financial strengthSuccessful deliveries madeby Offshore & Marine in thequarter reflect our strongtrack record of qualityproject execution. Withrecord deliveries expectedin 2013, we will continueto focus on enhancing ourexecution, engineering anddesign capabilities to sustainour market leadership andfurther distance ourselvesfrom competitors. We willcontinue to increase theefficiency of our yards aswe pursue our Near Market,Near Customer strategy.InfrastructureThe 800MW expansion ofthe KMC is on track for fulloperations in the middle of2013. With the increasedcapacity, Keppel Energy iswell-positioned to meetthe growing demand in theSingapore energy market. Thecompletion of the expansionwill see us operating one ofthe most efficient plants inthe market.K e p p e l I n t e g r a t e dEngineering (KIE) has recentlycommenced work on theWaste-to-Energy (WTE)combined heat and powerplant in Poland. We willleverage on our proven WTEtechnology and experienceto ensure successful deliveryof this project. In light ofthe challenges faced in ourEngineering, Procurementand Construction contracts,KIE will be more deliberateand selective in its pursuit ofnew projects.We will continue to expandour portfolio of energyefficient district coolingplants and selectively pursueFacilities Management andOperation projects locallyand overseas that providesuitable margins with limiteddownside risk.Keppel Telecommunications& Transportation (KeppelT&T) continues to strengthenits presence in China withthe Sino-Singapore Jilin FoodZone International LogisticsPark and the upcomingdevelopment of KeppelWanjiang International ColdChain Logistics Park in AnhuiProvince. These two projectswill further boost KeppelT&T’s capabilities in providinghigh quality and reliable foodlogistics services.Keppel T&T has also expandedits logistics footprint intoIndonesia by partneringPuninar Logistics to provideintegrated logistics servicesfor the consumer productssector.PropertyOur home sales in Singaporehave moderated with theabsence of new launches.However, the sale of 115homes in the quarter fromour existing stock is healthy.In our overseas markets, wesold about 730 homes inthis quarter, primarily fromour properties in China. TheChinese property market maytake a while to fully recoveras its new leaders are notexpected to remove all theproperty cooling measuresso quickly.On the commercial front,w e c o n t i n u e t o s e ehealthy interest in qualityoffice spaces, with strongcommitted occupancy ratesfor MBFC Office Tower 3 andOcean Financial Centre.Keppel REIT continues toproduce good returns from itsportfolio of quality incomeproducingcommercial assets,registering strong growth of79% in distributable incomeand maintaining an almostfull occupancy rate.Alpha Investment Partnershas successfully raisedmore than US$700 millionfor the Alpha Asia MacroTrends Fund II, reflecting theconfidence of institutionalKeppelite I February 2013