December 2012 - Keppel Corporation

From the CEO – Shaping the FutureAs 2013 marks Keppel Corporation’s 45th anniversary, CEO Mr Choo Chiau Bengstarts the New Year with a special message for Keppelites.Dear Keppelites,We all enjoy a good story.The Keppel story is 45 yearsin the making and stillgrowing strong. Keppelhas emerged, throughmany twists and turns,ups and downs, resilientand stronger, every time.Shaping the Future –the theme of our 45thAnniversary is apt asKeppelites continue tocraft our story with theirmulti-faceted experiencesin over 30 countriesworldwide. Together, weare constantly workingt o w a r d s s u s t a i n i n ggrowth, empoweringl i v e s a n d n u r t u r i n gcommunities whereverKeppel is present.Since 2009, when Istepped into the role asCEO, my top priority hasbeen to shape Keppel intoa stronger Group withprofitable businesses. Wehave since deepened ourcore competencies andbuilt new capabilities.We have fortified ourmulti-business strategyand financial resilienceto ride the cycles andseize opportunities. OurWe place great emphasis on talent development and leadership nurturance as part of our HR strategies to grow the capabilities of both theGroup and our employeesconcerted efforts in theright direction have helpedthe Group to achieverecord performance andincrease shareholdervalue even amidst globaleconomic turmoil.We are proud of ourrecord financial results,but numbers are onlypart of the Keppel story.What differentiate us areour people with the deepseateddesire to deliversustainable value creationto all our stakeholders.W i t h o u r f o c u s o nsustainable growth, oursound business strategiesand commitment to deliveron time and within budgetput us in good stead tocapture more value overthe long term.Across all the regionswhere we operate, themainstay of our NearMarket, Near Customerstrategy is that we willcontinue to work closelywith our customers andpartners, to deliver totheir satisfaction andexpectations.CHARACTER ASBUILDING BLOCKSGood strategies andthe right opportunitiescan only take us so far.Beyond that, we needcommitted people to helpus flourish in the long run.At the heart of every greatstory are the characters.Throughout Keppel’shistory, we have beenprivileged to have goodpeople who have diligentlycontributed to the successof the company since itsinception.Continues on page 4...Keppelite I December 2012

...continued from page 3.From the CEO – Shaping the FutureTeamwork, above all,defines and fortifies us asa Group. As Keppelites,we all share in the Group’svision and culture ofpassion, integrity and theCan-Do! spirit. Our corevalues serve as an enduringbond and reference pointfor Keppelites whereverwe are.Continued investmentin talent developmentand training will bekey as we build up ourbench strengths in futuregenerations of the Keppelteam. Through our inhouseKeppel College andTraining Centres, we aregrowing the capabilitiesof our workforce with astructured learning anddevelopment frameworkand programmes that aretailored to our Group’sbusiness needs.As we embrace changeand develop ourselves tostay relevant, we continueto place strong emphasison nurturing a sustainableand cohesive cast of futureleaders and employees tosteer the Group throughdifficult landscapes.SHARPENED FOCUSON TECHNOLOGYT h i s b r i n g s m e t oanother imperative – toinnovate, improve andgrow as a Group. Thusfar, technology andinnovation have enabledus to offer cost-effectivesolutions that meet theevolving and exactingneeds of our customers,while distancing ourselvesfrom competitors. Wehave set benchmarks –from our proprietary rigdesigns and waste-toenergysolutions to ouriconic properties.Driving our R&D effortsand technology foresightfurther is the KeppelTechnology AdvisoryPanel, supported by ourcentres of excellence.The recent restructuringof Keppel Offshore &Marine’s TechnologyDivision highlights ourcontinued efforts toadvance our technologyedge and productivity.As we stretch intonew frontiers such asdeveloping Arctic andoffshore wind technologyas well as expand into newterritories, we take thepractical approach thatour solutions and servicesmust be adaptive andcommercially viable. Weare confident of achievingthis by engaging andworking in partnership withcustomers to anticipatetheir needs and bring newsolutions to the markets.REACHINGNEW LEVELS OFEXCELLENCEOurs is a story authored bydiverse hands in differentlanguages, but all carryingthe Keppel signature ofdistinction. Through theyears, we have grownand prospered – not bychance, but because wehave remained adaptiveand rigorous in seekinginnovation and productivityenhancements as part ofour drive for operationalexcellence.Keppelites share in the Group’s vision and culture defined by passion, integrity and the Can-Do! spiritWith increasing globalcompetition, how the plotof our future growth willdevelop depends on howcreatively we build on ourKeppelite I December 2012

successes and continue toharness talent, technologyand innovation forcompetitive edge.I would like to rallyeveryone to be involved –to ignite your imaginationand bring new ideasforward. With initiativeand enthusiasm to dothings safer, faster andbetter, we can all makea difference to write ournext chapter on growth.We must all be spurredto raise the bar onsafety – it is a Keppelcore value that I cannotoveremphasise. We havemade good headway withour Group-wide safetyprogrammes but there ismore to do as we striveto augment the cultivationof safe mindsets and workpractices.We will also need to findinnovative and more costeffectiveways, be it inbuilding rigs, properties orinfrastructure. Mindful ofchallenges and competitionahead, we will have toremain disciplined as westrive to lift ourselves tothe next level.THRIVING WITHCOMMUNITIESEven as we progress, wehave never forgotten ourWith increasing global competition, how the plot of ourfuture growth will develop depends on how creativelywe build on our successes and continue to harness talent,technology and innovation for competitive edge.I would like to rally everyone to be involved – to igniteyour imagination and bring new ideas forward. Withinitiative and enthusiasm to do things safer, faster andbetter, we can all make a difference to write our nextchapter on growth.roots and responsibilitiesto the communities whichwe are a part of, whoseaspirations and long-termwell-being contributeto the sustainabilityand success of ourbusinesses.Building on our traditionof community serviceand civic engagementwill continue to be anessential CSR goal.Through the Keppel CareFoundation launched thisyear, we will aid the needyand under-privileged,promote education andencourage eco-friendlymindsets and initiatives.We seek to contributenot only to economicgrowth but to bringlongstanding benefits tothe communities in whichwe operate.On the back of incrementalp r o g r e s s m a d e i nsustainability reporting,we are further investingin systems and training toimprove our sustainabilityreporting capabilities andprocesses.CELEBRATING OURCULTURELooking back at thepast decades of Keppel’sevolution, we can beproud of our heritageand track record. I amconfident that we havelaid solid foundationsfor future generationsof Keppelites to take thecompany further.This year, a series ofinitiatives will be rolledout to engage Keppelites,customers, businesspartners and communitystakeholders. I invite all ofyou to participate in thecelebrations.A company is only asgood as its people. So, toevery single of our 40,000Keppelites around theworld, thank you.Let us now commitourselves to a higherstandard as we start thework of actively shapingKeppel’s destiny today.Not until the very lastpage will we know how atale ends, but the sum ofall our meaningful choices– yours and mine – willdetermine the outcomeof the Keppel story.The future lies in ourhands.To capture highlights of our yearlongcelebrations, a micro-sitehas been launched atwww.kepcorp.com/keppelat45Keppelite I December 2012

6 Sustaining Growth GrowthProducing for offshore MalaysiaKeppel Shipyard and BCPetroleum, a joint venturebetween Roc Oil Company,Dialog Group and PetronasC a r i g a l i , c e l e b r a t e dthe naming of an EarlyProduction Vessel (EPV) uniton 3 December 2012.To date, the teams haveclocked more than 600,000safe man-hours on theproject with zero lost-timeincidents.The Lady Sponsor, PuanHatijah Abdul Latiff, wifeof Encik Ramlan AbdulMalek, VP, PetroleumManagement Unit,Exploration & Production,P e t ro n a s , n a m e d t h eEPV, Balai Mutiara.When completed, BalaiMutiara will proceed tothe Balai Cluster oil fields,offshore Malaysia, to carryout extended well tests inthe Balai, Bentara, Spaohand West Acis fields.The project teams were ledby Elias Xanthopoulos of BCPetroleum and Leong SiewLoon of Keppel Shipyard witha firm, safety-first mindset.Keppel Shipyard’s workscope on this EPV projectincludes refurbishmentand life extension works,installation of the helideck,fabrication and installation ofthe flare tower, upgrading ofaccommodation facilities, andinstallation and integrationof the process modules.The conversion of BalaiMutiara is an extension ofthe Balai Cluster Risk ServiceContract, which is the secondcontract to be awardedby Petronas under its newpetroleum arrangementfor the development andproduction of marginalhydrocarbon reserves inMalaysia.The first Risk Service Contracthad brought about themodification and upgradingof the Floating ProductionStorage and Offloading(FPSO) vessel, Berantai. Thiswas also undertaken byKeppel Shipyard, and wascompleted a few monthsago.Over the years, KeppelShipyard has had the privilegeto participate in a numberof projects for Malaysiaand Petronas. Besides FPSOBerantai, Keppel Shipyarddelivered the Floating StorageUnit, Tenaga Empat, earlierthis year and successfullycompleted the FloatingStorage and Offloading (FSO)unit, FSO Sepat, in 2011.keppeliteWhen completed, Balai Mutiara will proceed to the Balai cluster of fields, offshore Malaysia,to carry out extended well testsKeppelite I December 2012

Sustaining Growth 7Striking start for Philippine offshoreplatformKeppel Subic Shipyard inthe Philippines has startedconstruction of the firstoffshore platform to befully built in the country.Together with its customer,Shell Philippines ExplorationBV (SPEX), the yard markedthe cutting of the firststeel plate for a DepletionCompression Platform (DCP)on 7 December 2012.Mr Tong Chong Heong,CEO of Keppel Offshore& Marine (Keppel O&M),shared, “Keppel has beenpresent in the Philippinessince 1975. Keppel SubicShipyard is one of our twoyards in the country. Over theyears, the yard has grown itsship repair and fabricationcompetencies. As a key yardin Keppel O&M’s globalnetwork, we continue toenhance its facilities and thecapabilities of its workforceto take on more offshoreprojects.“We are committed toextend and improve ourservices for our customers.With the strong supportfrom the national and localgovernment, and goodteamwork between us andSPEX as well as their jointventure partners, we areconfident that this projectwill progress safely andpromptly.”(From left) Mr Sabino Santos, Asset Manager of Chevron Malampaya, Mr Tong Chong Heong,CEO of Keppel O&M, Ms Milagros Magsaysay, representative of the first district of Zambales,Mr Sebastian Quiniones, SPEX Asset Manager and MD, Ms Josefina Patricia Magpale-Asirit,Undersecretary for DOE, and Mr Gemiliano Lopez Jr., Chairman of PNOC-ECMr Leong Kok Weng, Presidentof Keppel Subic Shipyard,said, “We are workingas one team with SPEXtowards our common goalof successfully completingthe DCP. To ensure safeand efficient operations, wehave been expanding ourfacilities and increasing thecapabilities of our workforce.We are pleased to enterthe construction phase andwill continue to work hardtowards delivery.”When completed, the DCP willbe deployed in the Malampayagas field, near Palawan Island,Philippines, where it willoperate next to an existingshallow water productionplatform. It is designed tomaintain the current availabilityand deliverability of naturalgas from the Malampayafield through regulatingthe gas export pressure andflow rates.The development of theDCP forms Phase 3 of theMalampaya Deep WaterGas-to-Power project, whichis led by the Departmento f E n e r g y ( D O E ) a n dsupported by the consortiumcomprising the Malampayaproject operator, SPEX, andits joint venture partners,Chevron Malampaya LLCand the Philippine NationalOil Company-ExplorationCorporation. keppeliteExtendingaidPhilippine PresidentBenigno Aquino III wasscheduled to attend theevent but was calledaway to oversee therelief operations forthe victims of typhoonBopha, the strongests t o r m t o h i t t h ePhilippines this year.To assist the victims oftyphoon Bopha, KeppelPhilippines Marine andKeppel Subic Shipyardt o g e t h e r d o n a t e dPhP300,000 to thePhilippine Red Cross.Mr Tong Chong Heong,CEO of Keppel O&M,shared, “Our thoughtsare with the familiesand victims of thetyphoon. We hope thatour contributions willgo some way to providethem with comfortand assist them withrecovery.”Keppelite I December 2012

8 Sustaining GrowthExpanding logistics footprint intoIndonesiaNew joint venture brings Keppel Logistics’ winning formula for efficient and reliablelogistics services into Indonesia.Keppel Telecommunications& Transportation’s (KeppelT & T ) w h o l l y - o w n e dsubsidiary, Keppel Logistics,has formed a joint venturew i t h P T P u n i n a r J a y a(Puninar Logistics) to provideintegrated logistics servicesfor the consumer and retailgoods sector in Indonesia.The joint venture company(JV Co), PT Keppel PuninarLogistics, will be 49% ownedby Keppel Logistics and 51%owned by Puninar Logistics.S y n e r g i s i n g K e p p e lLogistics’ strengths inserving the fast movingconsumer goods (FMCG)industry, modern logisticsmanagement expertise andIT infrastructure with PuninarLogistics’ wide domesticdistribution network andstorage capabilities, the JVCo will provide customisedand cost-effective integratedlogistics services, with afocus on the growing FMCG,retail and healthcare sectorsin Indonesia.Puninar Logistics’c o m p re h e n s i v e r a n g eof integrated logisticsservices are supported by150,000 sm of indoorwarehouse facilities,150,000 sm of open yardLaunching the logo for Keppel Puninar Logistics were (from left): Mr Pang Hee Hon, CEO of Keppel T&T; Mr Tjahjadi Lukiman, CEO of PuninarLogistics; Mr Eddy Korompis, President Commissary of Puninar Logistics; Mr Teo Soon Hoe, Senior ED of Keppel Corporation and Chairman ofKeppel T&T; H.E. Mr Anil Kumar Nayar, Singapore’s Ambassador to Indonesia, and Mr TP Rachmat, President Director of PT Triputra InvestindoAryastorage space and a fleet of800 vehicles.Mr Pang said, “Indonesia’seconomic growth has beensupported by large domesticconsumption and risingincomes, particularly in themiddle-income segment. Therise in consumerism creates agrowing demand for qualitylogistics services, especiallyin sectors such as retail andhealthcare. As a leadingintegrated logistics solutionsprovider backed by 40 yearsof extensive experience, welook forward to leverageour capabilities to providevalue-added solutions forour customers and partnersthrough this joint venture.”For the past five yearssince 2007, the Indonesianeconomy has posted healthyGDP growth rates above 6%,except for 2009, when it grew4.5%. Indonesia’s economicperformance in the first halfof 2012 has been positive,with a projected overall GDPgrowth rate of 6.1% in 2012by the World Bank.The JV agreement signingceremony was graced byHis Excellency Mr AnilKumar Nayar, Singapore’sAmbassador to Indonesia;Dr Muhamad Chatib Basri,Chairman of Indonesia’sInvestment CoordinatingBoard (BKPM); Mr Teo SoonHoe, Senior ED of KeppelCorporation and Chairmanof Keppel T&T; Mr TPRachmat, President Directorof PT Triputra InvestindoArya and Mr Eddy Korompis,President Commissary ofPuninar Logistics. keppeliteKeppelite I December 2012

Sustaining Growth 9Customised for Saudi AramcoKeppel FELS has delivered toAramco Overseas CompanyB.V., a subsidiary of SaudiAramco, its first KFELS SuperB Class jackup drilling rig.The rig, named SAR 202 inSingapore on 29 September2 0 1 2 , w a s d e l i v e r e d13 days ahead of schedule,on budget and with a perfectsafety record.To be deployed in offshoreSaudi Arabia, SAR 202 hasbeen customised to SaudiAramco’s requirements. Itis equipped with a highcapacity hook load of twomillion pounds for operationsin high temperature and highpressure wells. Capable ofdrilling down to 30,000 feet,the proprietary KFELS SuperB Class design is a globalbenchmark for ultra deepwell drilling rigs.Mr Wong Kok Seng, MD(Offshore) of Keppel Offshore& Marine and MD of KeppelFELS, said, “This order wasa win-win situation as SaudiAramco gave us our first orderin 2010 that kick-started thejackup building boom, whilewe have delivered their veryfirst purpose-built, nextgenerationoffshore drillingrig to their satisfaction.“The KFELS Super B Class isa cost-effective and highlycapable design ideally suitedto meet the needs of theMiddle East. The excellentcompletion of this rig is ademonstration of our abilityto deliver value throughleading edge technologicalas well as operationalexcellence.”Mr Mohammad Al-Hattab,Manager, Department Head,Southern Area Oil DrillingDepartment, Saudi Aramcosaid, “We started this projectduring the downturn andnaysayers said that it wouldbe late and that we wouldoverrun the budget. It hasinstead been delivered earlyand within budget.“This was accomplisheddespite the fact that wechanged the whole controlsystem after the Macondoincident. In fact, the rig wasfully upgraded to 100%API standards without anydelay. Keppel FELS hasproven to be an excellentpartner for us.”Besides the SAR 202,another KFELS B Classjackup rig, West Callistohas also been chartered ona three year contract withSaudi Aramco.The proprietary KFELS SuperB Class design has beendeveloped to meet thedemand for more powerfuljackups as the search forhydrocarbons moves intoharsher environments anddeeper underground. SAR202 is the sixth such jackupbuilt by Keppel FELS. keppeliteMr Chow Yew Yuen, COO, Keppel O&M (in blue) and Mr Khaled Al-Buraik (seated), VP,Drilling and Workover, Saudi Aramco celebrate the delivery of SAR 202 together with theteams from Keppel FELS and Saudi AramcoFollowing the delivery of SAR 202, Mr Khalid A. Al-Falih, President and CEO of Saudi Aramco(fourth from right) visited Keppel FELS on 30 October 2012 to reinforce the good relationsand tour the yardKeppelite I December 2012

10 Sustaining GrowthOptimum PRIMUSKeppel FELS deliveredPRIMUS, a KFELS B Classjackup rig, to offshoreMexican oil field servicescompany, Integradora deServicios Petroleros OroNegro (Oro Negro), sevendays early and with a perfectsafety record.PRIMUS was named by LadySponsor Mrs Brenda Gil on4 December 2012 at KeppelFELS, in the presence ofMexican Ambassador H.E.Antonio Villegas Villaloboswith his wife, Mrs ClaudiaVillegas.Mr Chow Yew Yuen, COOof Keppel Offshore & Marine(Keppel O&M) said, “This isa significant milestone in ourpartnership. PRIMUS is thefirst rig that Keppel FELS hasbuilt for our new customerOro Negro, and we are proudto be able showcase theKeppel hallmark of deliveringearly – seven days to be exactMexican Ambassador, H.E. Antonio Villegas Villalobos (third from left) and partner, Mrs Claudia Villegas (second from left); Mr Gonzalo Gil-White (sixth from left), Co-CEO of Oro Negro; Lady Sponsor Mrs Brenda Gil (sixth from right); Mr Tong Chong Heong (fifth from right), CEOof Keppel O&M and Mr Chow Yew Yuen (fourth from left), COO of Keppel O&M and senior management from Oro Negro and Keppel FELScelebrate the naming of PRIMUS– and with a perfect safetyrecord.“We are pleased to be ableto support Oro Negro inexpanding their fleet ofhigh specification jackuprigs to provide premium oilfield services to the offshoresector.”Mr Gonzalo Gil-White, Co-CEO of Oro Negro, said,“By partnering with KeppelFELS, we have been assuredof receiving this premiumrig without incident andahead of time. This is avalue-added service whichour customers appreciateas well.”PRIMUS is the first of two rigsby Keppel FELS for Oro Negroafter the Mexican companypurchased them from JasperInvestments. It is also OroNegro’s first jackup rig andis suited for deployment invarious parts of the worldincluding the Gulf of Mexico.keppeliteWorld energy championM a r k e t l e a d e r s h i p , astrong balance sheet andgood management arecharacteristic of companiesthat have survived, and evenflourished, during uncertaintimes.With these metrics, CitigroupResearch identified KeppelCorporation as one of 16world energy championswhich can deliversuperior performance toinvestors. Standing outamong the champions,Keppel Corporation wasalso selected as Asia’s‘Best-of-the-Best’ energychampion.Citigroup Research’s reportelaborated that Keppel’sstrengths include a globalnetwork of yards andstrong commitment toR&D.Other champions includecompanies like ExxonMobil,Seadrill and Gazprom. Theseworld energy championshave strongly outperformedthe MSCI sector over the past10 years. keppeliteKeppelite I December 2012

Sustaining Growth 11Straight talkMr Choo Chiau Beng, CEO of Keppel Corporation was interviewed by Bernie Lo ofCNBC ’Straight Talk’ on 16 November 2012. Keppelite presents highlights of theinterview.Mr Choo Chiau Beng, CEO of Keppel Corporation, opined that Keppel will constantly improveits productivity and quality in order to operate viablyBernie Lo (BL): How isthe state of Keppel’sbusiness?Choo Chiau Beng (CCB):Our yards around the worldare expecting to delivera record number of rigsnext year, and we are goingto be very busy. There isrevived demand for jackupsand semisubmersiblesbecause many of the oldjackups are obsolete. Thedemand for better andmore powerful equipmentis there, and we are in goodstead to get a fair share ofthe business.BL: While the status quois standard technology,are you concerned thatnew technologies suchas horizontal drilling forpetroleum, or fracking,will affect Keppel’sbusiness as the world’slargest producer ofoffshore marine rigs?CCB: We are alwaysconcerned abouttechnologies that disruptour business, but for themoment, we do not thinkthat this will impact us, asthere is a lot of controversysurrounding fracking due toenvironmental and healthconcerns associated with thetechnology.BL: Given that the costsof operating in Singaporehave escalated, wouldthis force Keppel tochange its structureor the way forwardgiven that 50% of yourworkforce is based inSingapore? Would youbecome more global andless Singaporean?CCB: Ultimately, Singaporehas a limited land area,and our offshore andmarine business is veryinternational because weadopt a Near Market, NearCustomer strategy. Thismeans that for offshoreand marine, we employa lot of people outsideof Singapore.It is very important to keep onimproving both productivityand quality to make thebusiness viable in Singapore.Because of our excellentlogistics and supply chain inSingapore, we are still verycompetitive in the offshorearea, particularly for jackups.In addition, the Singaporebusiness climate enablesbusinesses to functionprofitably even though costsare high.The key is to add value forour customers. For example,a rig or a ship requires a veryshort term turnaround, andthe best place to build itwould be in Singapore wherewe are able to offer this valueto the customer.The above interview highlightshave been reproduced withpermission from CNBC.‘Straight Talk’ with BernieLo features exclusive one-ononeinterviews with leadersin the corporate, political andsocial scene. keppeliteKeppelite I December 2012

12 Sustaining GrowthWorld’s best commercial developmentKeppel REIT’s newest property, Ocean Financial Centre, was named the World’s BestCommercial High-rise Development at the International Property AwardsOcean Financial Centre(OFC), Keppel REIT’s newestproperty, leads in architecturaland building excellencehaving been named theWorld’s Best CommercialHigh-rise Development atthe International PropertyAwards on 7 December 2012in London.Ms Ng Hsueh Ling, CEO ofKeppel REIT Management,said, “OFC is undeniablyone of the best commercialp r o p e r t i e s w i t h a nenviable location at theRaffles Place and MarinaBay precincts. The latestaward reflects Keppel REITManagement’s commitmenttowards investing in qualitycommercial propertiesthat will provide stableand sustainable returns toour Unitholders.”Since taking a majorityinterest of 99.9% in OceanProperties Limited LiabilityPartnership, which ownsO F C , K e p p e l R E I TManagement has successfullyincreased occupancy fromabout 80% in October 2011to about 96% to-date.Its latest tenants includethose from the energyand natural resources aswell as legal and financialservice sectors, namelyAnglo American, CBREGlobal Investors, Freshfields,Gazprom and Trafigura. Theyadd to the stellar line-up ofmultinational companiessuch as ANZ, BNP Paribasand Drew & Napier.Keppel REIT Managementhas also successfullycompleted the refinancingof OFC’s construction loan of$598 million at competitiveinterest rates. The refinancingsignificantly lengthens KeppelREIT’s weighted averagedebt maturity profile from2.3 years to 3.4 years as atSeptember 2012.D e v e l o p e d b y K e p p e lLand, OFC won the BestOffice Architecture, BestOffice Development andBest Commercial High-riseDevelopment in Singaporeand subsequently clinched theaward for Best CommercialHigh-rise Development at theAsia Pacific Property Awardsin April 2012.The landmark premiumGrade A office developmentwas completed in April 2011.At 43-storeys high, it is oneof the newest and largestoffice buildings in Singapore’sCBD with approximately886,000 sf of net lettablea re a . P h a s e 2 , w h i c hcomprises a carpark andretail podium, is currentlyunder construction withcompletion expected by3Q 2013. keppeliteKeppelite I December 2012

Sustaining Growth 13Industry recognitionDirector of Keppel FELS Brasiland VP of SINAVAL, shared,“Our strong practices stemfrom the commitment tosafety, quality and efficiency,which we seek to inculcate atall levels of our workforce.“We continue to seek waysto improve our operationsand raise our standards, andso deliver strong results forall our stakeholders.”Mr Abu Bakar Mohd Nor, CEO of N-KOM (centre), receives on behalf of N-KOM, the Ship Repair/Shipyard Award at Seatrade Middle East &Indian Subcontinent Awards 2012K e p p e l O f f s h o r e &Marine’s (Keppel O&M)yards worldwide upholdexceptional practices andservices that continue toreceive recognition from theindustry.Yardstick ofcustomer serviceOnly two years since itsinauguration, Nakilat-KeppelO&M (N-KOM) in Qatarhas swiftly establishedits reputation for qualityoperations.The yard was conferred theShip Repair/Shipyard Awardat Seatrade Middle East &Indian Subcontinent Awards2012, which was held on26 November 2012 in Dubai.N-KOM was also namedShipyard of the Year at theLloyd’s List Middle East &Indian Subcontinent Awards2012.Mr Abu Bakar Mohd Nor,CEO of N-KOM, shared,“We are very encouragedby the recognition we havereceived from the industryfor our practices andperformance.“Our growth over the lasttwo years is due largelyto the immense supportwe have received fromthe Qatari government,Qatar Petroleum and thePort of Ras Laffan as wellas our business partners,customers, suppliers andvendors, and employees.“We will continue toenhance our capabilitiesand grow into a centreof excellence for marine,offshore and onshoreservices.”Commitment toqualityOver in Brazil, BrasFELSsecured the Quality andSustainability Naval Awardin the large-size companycategory at an awards eventorganised by Brazil’s NationalUnion of Construction,Ship Repair and OffshoreIndustry (SINAVAL) and thenon-profit organisationfor sustainability, AROFoundation.Held on 12 November 2012in Rio de Janeiro, the eventrecognises and encouragesustainable practices in thenaval and offshore industry.Mr Alceu Mariano,Institutional RelationsBrasFELS’s win can beattributed to its adoptionof Programa IN9VE,a p r o g r a m m e w h i c hfacilitates the developmentof innovative ideas whichenhance processes, solutionsand the work environment ina sustainable manner.BrasFELS also stood out forits success at uniting itsworkforce with a common setof core values, which guidethe workforce’s conductand the yard’s operations,enabling them to deliverprojects safely, on time andwithin budget. keppeliteKeppelite I December 2012

14 Sustaining GrowthDelivering on excellenceKeppel FELS delivered Ukraine’sfirst two KFELS B Class jackuprigs, Piter Godovanets andNEZALEZHNIST earlier thisyear.Piter Godovanets has beenoperating in the field ofOdessa on the Black Seasuccessfully for the last sixmonths while NEZALEZHNIST(Independence) will startwork soon.NEZALEZHNIST, the secondKFELS B Class jackup rigfor Chernomornaftogaz, asubsidiary of Naftogaz, hassuccessfully completed itsre-commissioning in Giresun,Turkey, after crossing throughthe famous BosphorusBridge.Due to height restrictionsof the bridge, which has alimited clearance of 210 feetabove water level, the uppersections of the jackup rig’slegs and the upper part ofthe derrick could only beinstalled after the crossing.The leg installation and recommissioningwas fussfree,owing to the seamlesscollaboration between KeppelFELS and sister shipyard,Caspian Shipyard Companyin Baku, Azerbaijan.The success is testamentto the synergy betweenKeppel’s sister yards, awell-planned executionstrategy and innovativenessin overcoming challenges.In a letter to Keppel O&M,Mr Lars Bruun, ProjectManager appointed byChernomornaftogaz,commended the team,“I’ve rarely had a customermore satisfied with anoverall project result andits total performance as thisproject.”“Keppel FELS’s core valueswere deeply integratedthrough the project managerand then transformedto high project qualityperformance by the on-NEZALEZHNIST, the second jackup rig for Naftogaz, had to cross the Bosphorus Straits to be deployed on the Ukrainian shelf of the Black SeaKeppelite I December 2012

Sustaining Growth 15site team throughout theentire project scope ofwork. Individual skills andteam competence providedqualitative work in allphases, adding value tothe project for our ultimatecustomer.”For the Black SeaKeppel FELS has signeda contract with Ukraine’sN a t i o n a l J o i n t - S t o c kCompany “Naftogaz ofUkraine” (Naftogaz) on4 December 2012, to constructt w o s e m i s u b m e r s i b l edrilling rigs worth aboutUS$1.2 billion. The contractwill take effect upon finalcorporate approvals.The rigs will be built toKeppel FELS’s proprietaryDSS 38U design, whichis customised for theharsh weather conditionsof the Black Sea. Theseinclude extreme freezingtemperatures, storms withstrong winds and heavyseas.Mr Wong Kok Seng, MD(Offshore), Keppel Offshore& Marine (Keppel O&M)and MD of Keppel FELSsaid, “We are pleased tobe chosen by Naftogaz towork on these two complexprojects for the Black Sea.Having delivered two jackuprigs to them for the BlackSea, we understand thespecifications necessary forrigs to work in such extremeconditions.”“We have a suite ofproprietary semisubmersibleThe DSS 38U design is a modification of the successful DSS 38 semisubmersible rig (shown)designs capable of operatingin all frontiers. Coupled withour experience in buildingharsh environment rigs andthe strong partnership wehave built up with Naftogaz,we are confident of deliveringrobust, high quality rigs thatwill excel in operations in theBlack Sea.”Mr Evgen Bakulin, Chairmanof Naftogaz, added, “Theaddition of these rigs to ourfleet is part of our extensiveprogramme to moderniseour offshore exploration andproduction facilities. Thiswill allow us to reach a newlevel of shelf developmentin the Black and Azov Seas,rapidly boost our oil and gasproduction and reduce ourimports of natural gas.We have a suite of proprietarysemisubmersible designs capable ofoperating in all frontiers. Coupledwith our experience in buildingharsh environment rigs and thestrong partnership we have built upwith Naftogaz, we are confident ofdelivering robust, high quality rigsthat will excel in operations inthe Black Sea.Mr Wong Kok SengMD (Offshore), Keppel O&M,and MD, Keppel FELS“We selected Keppel FELSbecause they best met ourtender requirements andthey are a proven partner,having delivered two worldclass jackup rigs to us. TheDSS 38U design is forus, a new-generation andcost-effective rig with highspecifications. We lookforward to continuing thiswin-win partnership withKeppel as we grow ouroffshore capabilities.” keppeliteKeppelite I December 2012

16 Sustaining GrowthShipshape executionKeppel Offshore & Marine(Keppel O&M) is bustlingwith activity as new projectspull into its yards in Singaporeand the Netherlands. Bysetting high standards, theproject teams have achievedmany safety and performancemilestones this year.Double celebrations wereheld on 18 October 2012for safety achievementsonboard Discovery Offshore’stwo KFELS Super A Classrigs under construction atKeppel FELS. A total of fivemillion safe manhours wererecorded on the jackuprigs, Discovery Triumph andDiscovery Resilience.In recognition of the projectteam’s safety efforts,Mr Shannon Guidry, GM,International Operations,from Hercules Offshore( H o u s t o n ) p r e s e n t e dMr Yong Chee Min, GM, HSEof Keppel O&M with a safetybonus of $10,000.With more than 80% ofconstruction completed,the new-generation KFELSSuper A Class jackup rig,Discovery Triumph, achieved3.4 million man-hourswithout lost time incident(LTI). Discovery Resilience,which is nearing the half waypoint in its construction hasreached a safety milestone of1.6 million manhours workedwithout LTI.JDC and Keppel FELS alsojointly celebrated safemanhours on the jackupB333. On 19 October 2012.Mr Yuichiro Ichikawa,Representative Director andSenior Managing ExecutiveOfficer of JDC presentedMr Wong Fook Seng, ED(Operations) of Keppel FELS,with a safety bonus chequeof US$10,000.Longstanding customer,Maersk also marked twomore milestones withKeppel FELS on 23 November2012. The first was thestrike steel of jackup B347,followed by an awardceremony for jackup B331which achieved four millionsafe man hours. Mr MortenPoulsen, Senior Director ofMaersk presented KeppelFELS with a safety bonuscheque in commemorationof an excellent safetyrecord.GDI’s strike steel ceremonyfor the jackup B342 washeld on 28 November 2012at Keppel FELS. Present atthe ceremony was Mr IbrahimAl-Othman, CEO of GDI,Mr Yoichi Onoe, COO ofGDI and the project teamcomprising of Mr FahadAl-Ahbabi, CommercialM a n a g e r o f G D I a n dMr Mohsen Abdelalim,Technical Manager andProject Manager at GDI.O n j a c k u p B 3 3 5 f o rTransocean, Keppel FELSalso clocked two million safeman hours. To commemoratethis achievement, Mr RayCampbell, Transocean ProjectManager for B335 presentedKeppel FELS with safetybonus cheque of US$10,000on 11 December 2012.Mr Dan Farr, Director ofNew Builds at Transocean wasalso present.Keppel Singmarine launches jackup B337, Standard Integrity for Standard Drilling on1 December 2012Commemorating two million safe man hours on jackup B333, Hakuryo-II, Mr YuichiroIchikawa (left), Representative Director, Senior Managing Executive Officer of JDC presents MrWong Fook Seng (right), ED (Operations) of Keppel FELS with a plaqueKeppelite I December 2012

Sustaining Growth 17Over at Keppel Singmarine,jackup B337, StandardIntegrity, owned by customerStandard Drilling, waslaunched on 1 December2012, in the presence ofMr Mike Kelly, CEO ofStandard Drilling and hisproject team. This project,which is contracted toKeppel FELS, leverages thesynergistic capabilities ofKeppel yards.Across the seas, KeppelVerolme in the Netherlandsc o m p l e t e d e x t e n s i v eupgrading, repair, andmaintenance works onScarabeo 6, Saipem’ssemisubmersible drilling rig.The unit now has increaseddrilling capabilities to drillto water depth of1,200 metres. Scarabeo 6left the yard on 2 December2012. keppeliteKeppel Verolme completes upgrading, repair, and maintenance works on Scarabeo 6, Saipem’s semisubmersible drilling rigExcelling in investor relationsFor their strong commitmentto engage shareholders,Keppel Corporation andKeppel Land were bestowedtop honours at the IRMagazine Southeast AsiaConference and Awards heldon 6 December 2012.At Keppel, we are driven by a strongsense of accountability towardsinvestors and stakeholders. We makethe effort to understand the concernsof shareholders and better engagethe investing community by providingprompt and accurate informationabout our company.Ms Wang Look FungDirector of Group Corporate AffairsKeppel CorporationThis is the second yearr u n n i n g t h a t K e p p e lCorporation and Keppel Landhave been conferred the BestInvestor Relations Awardby section (Industrials) andGrand Prix for Best OverallInvestor Relations Award fora mid or small cap company,respectively.Keppel’s senior managementand investor relations (IR)teams meet regularly withinvestors and analysts andparticipate in local andinternational conferencesand road shows. KeppelCorporation alone conductedabout 200 meetings in 2012with investors and analystsacross Europe, Hong Kong,Japan, Singapore and theUS.The Group has also beenhelping analysts and investorsbetter understand its keybusinesses by facilitatingvisits to overseas projectsand units such as the Sino-Singapore Tianjin Eco-Cityin China and the BrasFELSshipyard in Brazil. keppeliteKeppelite I December 2012

18 Sustaining GrowthFrom strength to strength in 2012R o o t e d i n s t r o n gfundamentals, Keppelcontinues to grow acrossvarious businesses andm a r k e t s , e x c e e d i n gexpectations in the face ofan increasingly challengingglobal environment.KEPPEL CORPORATIONJuneK e p p e l C o r p o r a t i o nappointed Mr Tan PuayChiang as an independentDirector on its Board. Mr Tanis a veteran in the oil, gasand petrochemical sector,with 38 years of experiencewith Mobil Oil and laterExxonMobil.JulyK e p p e l C o r p o r a t i o nsubscribed to US$115 millionof new shares in KrisEnergy,an independent upstreamoil and gas company with adiverse portfolio in SoutheastAsia. Keppel Corporationholds 20% of KrisEnergy’senlarged share capital.SeptemberThe Keppel Care Foundationwas launched to providea more structured andsustainable frameworkfor the Group’s CorporateSocial Responsibility work.Keppel will commit up toS$50 million over the next10 years to the Foundation.OFFSHORE & MARINEJanuaryKV Ventus, a whollyownedsubsidiary of KeppelCorporation, acquired a49.9% substantial stake inOWEC Tower, an industryleadingdesigner of jacketfoundation, to strengthenKeppel Offshore & Marine’s(Keppel O&M) range ofsolutions for the offshorewind industry.Keppel AmFELS secured aUS$150 million contractfrom Diamond Offshore toconstruct and upgrade adeepwater semisubmersiblerig.Nature Cares, a wellness programme launched by Dr Tony Tan (third from left), President of the Republic of Singapore, is one of the initiatives supported by the Keppel Care FoundationKeppelite I December 2012

Sustaining Growth 19K e p p e l S i n g m a r i n ecelebrated the christeningof ROCKPIPER, a newgenerationrock-dumpingfall pipe vessel that wasdelivered safely, on timeand within budget to RoyalBoskalis Westminster.FebruaryKeppel O&M TechnologyCentre (KOMtech) andConocoPhillips announceda joint project to design afirst-of-its-kind ice-worthyjackup rig to operate in theArctic Seas.ENSCO 8505, the sixth ofseven ENSCO 8500 Series ®semisubmersibles for Ensco,was delivered on time, withinbudget and with a perfectsafety record.MarchM r C h o w Ye w Yu e nwas appointed COO ofKeppel O&M.Capping a great partnership between Keppel FELS and Ensco were the deliveries of the sixth and the seventh rigs in the ENSCO 8500 Series ® ofultra-deepwater semisubmersible rigs in 2012AprilKeppel O&M’s TechnologyDivision was restructuredto bring existing and newresearch and processimprovement units underone umbrella to fortifythe group’s commitmentto advance its technologyleadership.Keppel AmFELS won aUS$205 million contractfrom its repeat customerPerforadora Central SA deCV to build a LeTourneauSuper 116E jackup rig.Continues on page 20...ROCKPIPER, a new-generation rock-dumping fall pipe vessel was delivered by Keppel Singmarine safely and within budget to Dutch dredgingand marine contractor, Royal Boskalis Westminster N.V. (Boskalis)Keppelite I December 2012

20 Sustaining Growth...continued from page 19.Keppel Shipyard securedcontracts worth $170 millionin total to upgrade FloatingProduction Storage andOffloading (FPSO) projectsfrom SBM Offshore andBumi Armada.MayKeppel FELS delivered PiterGodovanets, Ukraine’s firstKFELS B Class rig.Keppel O&M celebratedits 10th Anniversary on1 May 2012 at its annualcocktail party at the OffshoreTechnology Conference inHouston, US.Bumi Armada’s FPSO Armada Sterling (on left) and FPSO Armada Claire (on right) are seen docked side by side at Keppel Shipyard. ArmadaSterling is the tenth project to be completed by Keppel Shipyard for long-term customer Bumi Armada. FPSO Armada Claire is currentlyundergoing refurbishment and upgrading works at the yardJuneKeppel FELS secured a thirdcontract from Maersk DrillingHoldings Singapore, awholly owned subsidiary ofA.P. Moller – Maersk A/S,to build a Gusto MSC CJ70ultra harsh environmentjackup rig worth aboutUS$560 million.Keppel FELS celebrated thenaming of NEZALEZHNIST,Ukraine’s second KFELS BClass jackup rig deliveredsafely, ahead of schedule andwithin budget.Keppel Shipyard deliveredto its repeat customer SBMOffshore, FPSO Cidade deParaty – the yard’s 100thFPSO/Floating Storage andOffloading (FSO)/ FloatingStorage and Re-gasificationUnit (FSRU) conversion andupgrading project.Keppel FELS delivered Seafox 5, one of the world’s largest offshore wind turbine installers and the first to be built in Singapore, capable ofoperating in up to 65-metre water depth in harsh environments – the deepest for such vessels. Seafox 5 was delivered to the Seafox Groupahead of time and with an impressive safety recordJulyKeppel FELS deliveredKeppelite I December 2012

Sustaining Growth 21With a strong pipeline of projects, Keppel FELS Brasil’s BrasFELS yard constantly seeks ways to enhance operational efficiencies to meet the demand for locally-built rigs in BrazilENSCO 8506, the final unitin the series of seven ENSCO8500 Series ® semisubmersiblerigs it was engaged to buildfor Ensco.Keppel Kazakhstan andits consortium partner,Ersai Caspian Contractor,secured a contract worthUS$242 million for a KFELSB Class jackup rig from TenizBurgylau.Keppel FELS Brasil securedan FPSO topside contractworth US$200 million fromMODEC and Toyo OffshoreProduction Systems PteLtd, a joint venture of ToyoEngineering Corporation andMODEC, Inc.Keppel Shipyard secured threeconversion and upgradingcontracts with a combinedvalue of S$103 million fromPTSC Asia Pacific, PerencoGroup and BC Petroleum.AugustKeppel O&M through itssubsidiary Fernvale firmedup contracts totallingUS$4.1 billion for thedesign and construction offive additional DSS 38Esemisubmersible drilling rigsfor Sete Brasil ParticipaçõesSA.Keppel FELS Brasil clinchedtwo contracts worth a totalof US$950 million fromPetrobras-led consortiums,Guara BV and Tupi BV, for thefabrication and integrationof topside modules for theFPSO units P-66 and P-69.Keppel FELS signed acontract to build for Floatel aDSS 20NS accommodationsemisubmersible rig worthUS$315 million.SeptemberKeppel O&M and its Italiancustomer Saipem S.P.Acelebrated the naming ofCastorone, one of the world’slargest and most capablepipelay vessels.Keppel FELS deliveredSeafox 5, built to itsproprietary Multi-PurposeSelf-Elevating Platform(MPSEP) design, to theSeafox Group.Keppel Shipyard deliveredFPSO Cidade de Anchieta toSBM Offshore.OctoberKeppel O&M appointedMr Michael Chia as MD(Marine) of Keppel O&M,Continues on page 22..Keppelite I December 2012

22 Sustaining Growth...continued from page 21.Mr Wong Kok Seng as MD(Offshore) of Keppel O&Mand Mr Chor How Jat as MDof Keppel Shipyard.Keppel FELS delivered aheadof schedule and with a strongsafety record, Paradise 400,the first high-specificationKFELS B Class jackup rig forSafin Gulf FZCO.Keppel Shipyard deliveredFPSO Armada Sterlingsafely and promptly toBumi Armada.K e p p e l S i n g m a r i n ecommemorated itsrich history and strongshipbuilding capabilities atits 125th Anniversary, heldon 30 October 2012.NovemberKeppel Subic Shipyardannounced its contractwith Shell PhilippinesExploration B.V. to builda depletion compressionplatform, while KeppelVerolme was engagedb y H e e r e m a M a r i n eContractors NederlandB.V. for the deepwaterconstruction survey of adeepwater constructionvessel. The combined valueof the two contracts is$160 million.BrasFELS was awardedUS$2 million in bonuses fordelivering FPSO Cidade deSao Paulo 19 days aheadof schedule and with anexcellent safety record.Keppel O&M celebratedits 10th Anniversary on26 November 2012 atGardens by the Bay withDeputy Prime Ministerand Minister for Finance,M r T h a r m a nShanmugaratnam as Guestof-Honour.DecemberKeppel FELS won a contractfrom Ukraine’s NationalJoint-Stock Company“Naftogaz of Ukraine”(Naftogaz) to construct twosemisubmersible drilling rigsworth about US$1.2 billion.Keppel FELS delivered Primus,a KFELS B Class jackup rig, tooffshore Mexican oil fieldservices company, Oro Negro,seven days early and with aperfect safety record.Keppel FELS won a contractfrom PEMEX Exploraciony Produccion, a subsidiaryo f M e x i c o ’s n a t i o n a loil company, PetroleosMexicanos, to build twoKFELS B Class jackup rigsworth US$420 million.INFRASTRUCTUREFebruarySecurus Data Property FundPte. Ltd. (Securus Fund),jointly managed by KeppelTelecommunications andTransportation (KeppelT&T) and AEP InvestmentManagement, acquired adata centre in London, UK.Work on the Sino-Singapore Jilin Food Zone International Logistics Park commenced in October 2012, with the first phase of the park, spanning about 40 hectares, expected to be operationalin 2014Keppelite I December 2012

Sustaining Growth 23local partners, formed ajoint venture to develop andoperate the Keppel WanjiangInternational ColdchainLogistics Park in Lu’an City,Anhui Province, China.DecemberKeppel Logistics partneredPT Puninar Jaya to enterthe Indonesian market toprovide integrated logisticsservices, with a focus onthe growing fast movingconsumer goods, retail andhealthcare sectors.PROPERTYKeppel Seghers’ proprietary waste treatment technology will be employed for a new waste-to-energy facility in Bialystok, PolandKeppel DHCS secured newcontracts to provide districtcooling systems (DCS)services at Biopolis andFusionopolis at one-north.MarchKeppel T&T formed a jointventure with the Jilin CityGovernment to develop theSino-Singapore Jilin FoodZone International LogisticsPark in Jilin City, Jilin Province.The joint venture will be thesole operator of the LogisticsPark.MayKeppel T&T appointedProfessor Neo Boon Siongand Mr Michael Chia to itsBoard of Directors.JuneSecurus Fund acquired an80% stake in a data centrelocated in Cyberjaya, atechnology park that formsa key part of the MultimediaSuper Corridor in Malaysia.Keppel T&T established a$500 million multicurrencym e d i u m t e r m n o t eprogramme.JulyKeppel FMO was awardeda five-year facilitiesmanagement servicescontract by Changi AirportGroup for Terminal 2 ofSingapore Changi Airport.AugustK e p p e l T & T i s s u e d$120 million fixed rate notesdue 2019 pursuant to its$500 million medium termnote programme establishedin June 2012.SeptemberKeppel Seghers was partof a consortium that wasawarded a $124 millioncontract for a waste-toenergycombined heat andpower project in Bialystok,Poland. The plant will processabout 120,000 tons ofwaste per year.OctoberK-Green Trust was awardeda Solar Pioneer Award for itsphotovoltaic (PV) installationat Keppel Seghers UluPandan NEWater Plant. Whencompleted in February 2013,the PV installation will be thelargest in Singapore.Keppel T&T and the Jilin CityGovernment commencedwork for the Sino-SingaporeJilin Food Zone InternationalLogistics Park.NovemberKeppel T&T, together withJanuaryKeppel Land China acquiredan additional 3.4-ha site witha 292-metre coastline for theintegrated residential-cummarinalifestyle developmentin Zhongshan, China. Thenew site will be integratedwith the existing 86-ha siteacquired in April 2008 andSeptember 2010.FebruaryKeppel Land reported$508.1 million gain from thesale of the group’s 87.5%stake in Ocean Propertiesto Keppel REIT (then K-REITAsia).Keppel Land China acquired51% stake in a commercialproject on an estimated2.6-ha site in Beijing’s CBD.This is the company’s secondproperty development inBeijing.Takashimaya signed aconditional agreement withContinues on page 24..Keppelite I December 2012

24 Sustaining Growth...continued from page 23.Keppel Land to pre-commitan estimated 15,000 sm ofretail space at Saigon CentrePhase 2 in Ho Chi Minh City,Vietnam.MarchKeppel Land appointedmaster architect Mr DanielLibeskind for its Plot 3development at KeppelBay, envisioned to be apremium waterfront propertycomprising 367 homes.Tower 3 of Marina BayFinancial Centre (MBFC)attained temporaryoccupation permit, makingMBFC Singapore’s largesti n t e g r a t e d m i x e d - u s edevelopment in the newdowntown.AprilOcean Financial Centre (OFC)attained the highest FiveStar rating for three awardcategories at the InternationalProperty Awards 2012:Best Commercial High-RiseDevelopment, Best OfficeDevelopment and Best OfficeArchitecture in Asia Pacific.JuneKeppel Land announcedthat Mr Ang Wee Gee willsucceed Mr Kevin Wong asCEO in 2013.Keppel REIT acquired ana p p r o x i m a t e 1 2 . 3 9 %interest in Ocean Propertiesfor a period of 99 years.This acquisition increasesKeppel REIT’s interest inOcean Properties from anapproximate 87.5% to99.9%.Keppel Land broke groundfor International FinancialCentre Jakarta Tower 2.Keppel Land marked theofficial opening of JakartaGarden City’s clubhousein a ceremony graced byBapak Murdhani, Mayor ofEast Jakarta.JulyKeppel Land entered ajoint venture agreementwith Sri Lanka developer,CT Properties to developluxury condominiums inColombo, Sri Lanka.Takashimaya signed a conditional agreement with Keppel Land to pre-commit an estimated15,000 sm of retail space at Saigon Centre Phase 2 in Ho Chi Minh City, VietnamKeppel REIT topped off of its landmark Sydney office building, 8 Chifley Square, on 25September 2012Keppelite I December 2012

Sustaining Growth 25Toasting to a new beginning for International Financial Centre in Jakarta were H.E. Mr Paulo Alberto da Silveira Soares, Ambassador of Brazil to Indonesia (fifth from right), Dr Lee Boon Yang,Chairman of Keppel Corporation (sixth from right), Mr Choo Chiau Beng, CEO of Keppel Corporation and Chairman of Keppel Land (fourth from right), the Board and management of KeppelLand as well as distinguished guestsAugustMBFC Tower 3 secured newoffice tenants, bringing theoverall commitment levelto over 70% at close to890,000 sf.SeptemberKeppel Land was namedSingapore’s Best OfficeDeveloper and Vietnam’s BestDeveloper, Best Residentialand Best Mixed-use Developerat the Euromoney Real EstateAwards 2012.Keppel REIT topped offof its landmark Sydneyoffice building at 8 ChifleySquare.Keppel REIT acquired a50% interest in a new officetower in Perth, WesternAustralia.OctoberK-REIT Asia was renamedKeppel REIT to position thecompany for further andsustainable growth.Keppel Land was awarded a3.2-ha prime residential sitealong New Upper ChangiRoad at $434.55 million.Keppel Land China acquireda 28.7-ha prime residentialsite in Xinjin Countyof Chengdu forRMB680.4 million to developabout 573 landed homes.International Financial CentreJakarta Tower 2 is the firstdevelopment in Indonesiato receive the Green MarkPlatinum Award from theBuilding and ConstructionAuthority of Singapore.NovemberMBFC Tower 3 secured newleases, bringing its overallcommitment level to 76% atclose to 960,000 sf.Keppel Land announcednew appointments in itsleadership team as part ofongoing efforts to furthergrow the company.Keppel REIT purchased aSteinway Model D-274 grandpiano which will be housedat OFC to commemorate itsname change.DecemberOFC was named the World’sBest Commercial High-Rise Development at theInternational Property Awardin London. keppelite* M i l e s t o n e s a s a t 2 4December 2012.Keppelite I December 2012

26 Special FocusToasting to Keppel O&M’s decade of excellence were (front row, L-R) Mr Tong Chong Heong, CEO of Keppel O&M; Dr Lee Boon Yang, Chairman of Keppel Corporation; Mr Tharman Shanmugaratnam, Deputy PrimeMinister and Minister of Finance; Mr Choo Chiau Beng, CEO of Keppel Corporation; Mr Chow Yew Yuen, COO of Keppel O&M, and the boards and management of Keppel Corporation and Keppel O&MKeppelite I December 2012

27Decade of excellenceHaving commenced thefirst leg of celebrationscommemorating 10 years ofexcellence at the OffshoreTechnology Conference(OTC) in Houston earlierthis year, Keppel Offshore& Marine (Keppel O&M)brought the party home toSingapore on 26 November2012.The soiree, held at the newlyopened Gardens by the Bay,brought the Keppel Boardof Directors and seniormanagement alongsidecustomers, businessassociates and partners,former Keppel Directorsand friends to celebrate theclosing of a momentousyear.Gracing the party as Guestof-Honourwas DeputyPrime Minister and Ministerfor Finance, Mr TharmanShanmugaratnam, who wasbrought through a colourfulexhibition of Keppel O&M’spast, present and future bythe Keppel Board of Directorsand senior management.Later, the group led theguests in a toast to KeppelO&M’s continual success andgrowth.At the party, Mr ChooChiau Beng, CEO of KeppelCorporation and Chairmanof Keppel O&M spokeon how Keppel O&M’sdecision to integrate hadbeen strategically beneficialDeputy Prime Minister and Minister for Finance, Mr Tharman Shanmugaratnam (third from left) touring the exhibition hall of the KeppelOffshore & Marine 10th anniversary celebrations with Dr Lee Boon Yang, Chairman of Keppel Corporation (second from left), Mr ChooChiau Beng (third from right), CEO of Keppel Corporation and Chairman of Keppel O&M, Mr Tong Chong Heong, CEO of Keppel O&M (far left),Mr Chow Yew Yuen (far right), COO of Keppel O&M and Mr Wong Kok Seng (second from right), MD (Offshore) as hostsLooking ahead, we will continue to adopt strategies whichstrengthen and deepen our core competencies. We will notdeviate from what has worked well for us, and we will fighthard to stay ahead in the industry.Mr Choo Chiau Beng,CEO of Keppel Corporation &Chairman of Keppel O&MThe confidence and support from all of you have madeKeppel Offshore & Marine where we are today. My sincerethanks goes out to our customers and business partners.Mr Tong Chong HeongCEO of Keppel O&Mto both Keppel and itscustomers.“The last 10 years haveproven that this integrationstrategy is right for us. It hasdemonstrated that a unitedwhole is far greater than thesum of the parts.“By eliminating duplicityand internal competition,streamlining our operations aswell as harnessing synergiesand combined strengths, wehave maximised value fornot only ourselves, but alsoour customers and businesspartners in more ways thanone. In the process, we havegrown from strength tostrength,” said Mr Choo.Since 2002, the collectivestrength of Keppel O&Mhas delivered strong results.Continues on page 28...Keppelite I December 2012

28 Special Focus...continued from page 27.Revenue grew three-foldfrom $1.9 billion in 2002to over $5.7 billion in 2011.For the first nine monthsof 2012, Keppel O&M hasachieved over $6.2 billioni n r e v e n u e . T h e s eachievements were generatedby a global workforce ofover 30,000, a significantincrease from around 14,000in 2002.Keppel O&M’s success isfirmly rooted in Keppelites,past and present, who havecommitted themselves tothe continued growth of thecompany. keppeliteMr Tong Chong Heong (second from left), CEO of Keppel O&M; with Mrs Jeanette Sim (centre), wife ofthe late Mr Sim Kee Boon, former Chairman of Keppel Corporation and her son Mr Peter Sim (far left);former Keppelite Ms Shirley Hew (second from right) and her husband, Mr Hoh Sooi Kim (far right)Mr Winston Choo (from left), former Director of Keppel O&M; Ms Lim Hwee Hua , former Directorof Keppel Corporation; Mr Tong; Mr Andy Lim, Chairman of Tembusu Partners; and Mr Tony Chew,Independent Director of Keppel CorporationMrs Oon Kum Loon (from left), Director of Keppel Corporation; Mr Tong, Mr Po’ad Bin Shaik Abu BakarMattar, Director of Keppel O&M; and Mr Neo Boon Siong, former Keppel Singmarine DirectorMr Chee Jin Kiong (from left), HR Director of Keppel Corporation; Mr Choo Chiau Beng, CEO of KeppelCorporation and Chairman of Keppel O&M, and wife Mrs Eileen Choo; Mr Kris Wiluan, Chairman ofKS Energy, Mr Richard Wiluan, Mr Lim Chee Onn, former Executive Chairman of Keppel Corporation;and Mr Wong Ngiam Jih, CFO of Keppel O&MMr Choo (centre) with Mr Foster T. Manning (left) of Definitive Management & Investment and Mr GohBoon Kiat, former Keppel Singmarine Executive DirectorMr Alan F.C. Choe (from left), former Director of Keppel Land; Mr Loh Wing Siew, former MD ofKeppel Corporation; Mr Choo; Mr Hwang Peng Yuan, former Director of Keppel Corporation; andMs Wang Look Fung (right), Director of Group Corporate Affairs, Keppel CorporationKeppelite I December 2012

29Mr Tong (left) with Mr David Chin, former Keppelite and Chairman of Keppel O&M Alumni, and wifeMr Yong Chee Min (from left), GM (HSE and Projects) at Keppel O&M; Mr Sit Peng Sang (centre),Director of Keppel O&M and Keppel AmFELS and Mr Fong Ying Yew, former Keppel Singmarine DirectorMr Long Sey Hai (from left), former Keppel Singmarine Director; Mr Wong K.C. Head of Reederei NSB;Mr Charles Chiam, Director of Keppel Prince Engineering; Mr Chee Jin Kiong, HR Director of KeppelCorporation; Mr Kung Yew Hock, former SGM of Keppel Shipyard; and Mr Lai Ching Chuan, GM(Corporate Development & Planning) at Keppel CorporationDr Lee Tsao Yuan (centre), former Director of Keppel Corporation, with Mr Teo Soon Hoe (right), SeniorED of Keppel Corporation and Mr Melvin Ng (left), Senior Project Manager at Keppel ShipyardMrs Alice Chua (left), wife of the late Mr Chua Chor Teck, former MD of Keppel Shipyard, with Mr Chooand Mr P.P. Nair, former Director of Keppel CorporationMr Leong Kang Chuen (centre), former Director of Keppel Singmarine, with Mr Paul Tan (left), GroupController, Group Control & Accounts, of Keppel Corporation and Mr Steven Lee (right), GM of KeppelHousingKeppelite I December 2012

30 Sustaining GrowthShowcase of strengths at BrasFELSWhile Keppel FELS Brasil’sBrasFELS yard in Angra dosReis continues to achieveprogress on significantworks and projects, it hasdrawn visitors, from headhonchos of national oilcompanies to members ofthe diplomatic corps, eagerto have a closer view ofdevelopments at the yard.MODEC’s FPSO Cidade DeSao Paulo as an example, shenoted the yard’s emphasis onsafety and ability to deliverprojects ahead of time.On 2 December 2012,BrasFELS also hosted DrTan Lian Choo, Singapore’sCharge d’Affaires ad interim/Minister-Counsellor to Brazil,accompanied by Mr ChooChiau Beng, CEO of KeppelCorporation and Singapore’snon-resident Ambassador toBrazil.Led by Mr Kwok, Dr Tanwas given a tour of theyard where she learnt howKeppel had successfullyturned BrasFELS into ahighly integrated shipyardover the last 12 years, withcapabilities ranging frombuilding Anchor HandlingTug Supply Vessels, PipelayingSupport Vessels, TensionLeg Wellhead Platforms anddrilling semisubmersibles,to the conversion, modulefabrication and integrationof FPSOs. . keppeliteV i s i t i n g t h e y a r d o n23 November 2012 wasPresident of Petrobras,Ms Maria das GraçasSilva Foster and hermanagement team.Mr Kwok Kai Choong,President and CEO of BrasFELStook the opportunity to showMs Foster the various projectscurrently under constructionin the yard.The strong partnershipbetween Petrobras andBrasFELS has been forged overmany successful deliveriesincluding three giant floatingproduction units, the P-52,P-51 and P-56. BrasFELSalso recently completed thefabrication and integrationof the Floating ProductionStorage and Offloading(FPSO) unit, Cidade De SaoPaolo, in addition to FPSOP-57, and the conversion ofFPSO P-48.The Petrobras team led by its President, Ms Maria das Graças Silva Foster (fourth from right), showing satisfaction with the progress of projectsat BrasFELSMs Foster expressed hers t ro n g c o n f i d e n c e i nBrasFELS’s capability todeliver projects safely andpromptly. Citing its work onDr Tan Lian Choo (standing, second from right), Singapore’s Charge d’Affaires ad interim/Minister-Counsellor to Brazil and Mr Choo Chiau Beng(standing, third from right), CEO of Keppel Corporation and Singapore’s non-resident Ambassador to Brazil with the BrasFELS teamKeppelite I December 2012

Sustaining Growth 31Finest homes in JakartaMr Lim Seng Bin (right), President Director of Jakarta Garden City, receiving the award for BestVilla Development at the South East Asia Property Awards 2012Jakarta Garden City sets benchmarks as a desirable live-work-play-learn haven with a vibrantand eco-conscious communityJakarta Garden City hasbeen named the Best VillaDevelopment at the SouthEast Asia Property Awards2012, held in Singapore on21 November 2012.T h e K e p p e l L a n d - l e dintegrated eco-townshipalso received the highlyc o m m e n d e d a w a rd i nthe Green Developmentcategory while KeppelL a n d w a s n a m e d t h ehighly commendedcompany in the BestD e v e l o p e r S i n g a p o r ecategory.Committed to high greenstandards, Phase 1 of thetownship was the firstresidential development inIndonesia to be conferredthe Green Mark GoldAward by the Building andConstruction Authority ofSingapore in 2011. keppeliteHallmarks of hospitalityTo reflect the growthand synergy of its reachacross Asia, Sedona HotelsInternational changedits name to Keppel LandHospitality Management(KLHM) on 14 December2012. Helmed by GMMr Khoo Peck Khoon,K L H M o p e r a t e s a n dm a n a g e s a g r o w i n gportfolio of quality assetsa n d a w a r d - w i n n i n gprojects. keppeliteKeppel Land Hospitality Management’s growing portfolio of award-winning projects across Asia, includesResidences at Reflections and Marina at Keppel BayKeppelite I December 2012

32 Sustaining GrowthLeading insightsB o l s t e r e d b y s t r o n gfundamentals, Singapore’so f f s h o r e a n d m a r i n esector remains strong,achieving a total turnover of$13.3 billion in 2011,c o m p a r a b l e t o t h e$13.5 billion achieved in2010 despite the globaleconomic downturn.However, the industryneeds to do more to meetthe challenges of thefuture. This was shared byMr Chow Yew Yuen, COOof Keppel Offshore & Marine(Keppel O&M) who was akeynote speaker at the 19thInternational Oil and GasIndustry Conference andExhibition (OSEA) held from27 to 30 November 2012.Mr S Iswaran (fourth from left), Singapore’s Minister in the Prime Minister’s Office and Second Minister for Trade and Industy, and Home Affairs,touring Keppel’s exhibition booth at OSEA 2012 with Keppel O&M senior management including CEO Mr Tong Chong Heong (third from left),and COO Mr Chow Yew Yuen (second from left)He shared on the trends inthe offshore industry, thechallenges and the role Asiancompanies can play to growin the sector.“Despite the uncertainty ofthe Eurozone, the MiddleEast and the recovery of theUS economy, the oil andgas sector is likely to remainrobust, backed by a steadyoil price. Asia and LatinAmerica have continued togrow and countries withstrong offshore and marinesectors will be well placedto service the market,” saidMr Chow.On challenges ahead, heshared, “Shale gas andr e n e w a b l e s h a v e t h epotential to reduce thedemand for oil and gas as thedominant energy resource.That, however, is unlikelyto happen in the near termand may in itself presentopportunities for oil and gasplayers in the future.“In the mean time, theoffshore oil and gas marketcontinues to expand andevolve as demand for newrigs with higher safety andenvironmental specificationsincrease. Exploration ismoving into deeper waterswith harsher environmentsa n d m o r e a d v a n c e dtechnology will be requiredto go into new frontiers.”He added that National oilcompanies such as Petrobrasin Brazil are taking moreownership of rigs andproduction vessels, andhaving operations in suchregions will be beneficial toshipyards. This Near Market,Near Customer strategy hasserved Keppel O&M wellover the years.Mr Chow later echoedthese sentiments over atthe Singapore Maritimeinstitute’s 2012 Forum heldat Nanyang TechnologicalU n i v e r s i t y ( N T U ) o n29 November 2012.He was among a panelof experts which includedProfessor Freddy Boey,Provost, NTU, Mr AndreasSohmen-Pao, CEO of BWMaritime and Dr ClausMyllerup, MD, Lloyd’sRegister Group TechnologyCentre.Mr Chow spoke on KeppelO&M’s R&D strategy ofsetting up technology centresin key locations such asBrazil, Houston and Europeto collaborate with likemindedpartners and remainplugged into pertinentmarket advancements.keppeliteKeppelite I December 2012

Sustaining Growth 33Boosting Singapore-Philippines tiesMr Choo Chiau Beng, CEO of KeppelCorporation and Co-Chairman of PSBC,delivered the opening remarks at theseminarThe economic forecastis looking good for thePhilippines, opening upopportunities for partnership,trade and collaboration withSingaporean companies.To boost business tiesbetween the two countries,the Philippines-SingaporeBusiness Council (PSBC) andthe Makati Business Clubjointly organised a missionto Singapore.Mr Choo Chiau Beng,CEO of Keppel Corporation,in his capacity as Co-Chairman of PSBC, deliveredthe opening remarks at aPSBC Seminar organisedby IE Singapore and thePhilippines Departmentof Trade & Industry on23 November 2012.The seminar, which wassponsored by the KeppelG r o u p , i n t r o d u c e dinvestment opportunities inthe Philippines, particularlyPublic-Private Partnership(PPP) projects.“In Singapore, PPP is aproven business modelfor many infrastructureprojects. With the upcomingPPP opportunities in thePhilippines, Singaporecan play a role with ourexperience operating underthe model,” said Mr Choo. Inan interview with Singapore’sChinese daily Lianhe Zaobao,Mr Choo commented onKeppel’s plans to furthergrow its shipyard operationsin the Philippines. keppeliteReaffirming strong partnershipMaersk Drilling’s (Maersk)CEO Mr Claus V. Hemmingsenand his team visited KeppelFELS to tour its yard31 October 2012. They werewarmly welcomed by KeppelOffshore & Marine’s CEOMr Tong Chong Heong,COO Mr Chow Yew Yuen,and Mr Wong Kok Seng,MD of Keppel FELS. The visitreaffirmed strong ties builtover years of committedpartnership.Keppel FELS has constructedfor Maersk, three DSS 21deepwater developmentsemisubmersible rigs.During the recent strikesteel ceremony for Maersk’sjackup B347, the partnersalso celebrated the safetyachievement of four millionsafe man-hours clockedon the construction of thejackup, B331. keppeliteMaersk is part of the A.P.Moller – Maersk Group and asignificant drilling contractorand supplier of floatingproduction solutions. To date,Mr Tong Chong Heong (right), CEO of Keppel Offshore & Marine warmly welcomes valuedpartner Mr Claus V. Hemmingsen, CEO of Maersk Drilling, to Keppel FELS on 31 October 2012Keppelite I December 2012

34 Sustaining GrowthDeepening ties with ChinaKeppel continues to strengthen its ties with China by building on strong rapport andrelations with Chinese delegations keen to learn more about the Group’s businesses.Mr Choo Chiau Beng (left), CEO of Keppel Corporation, in a candid exchange with Hefei PartySecretary Mr Wu CunrongOn 14 December 2012,Mr Choo Chiau Beng, CEOof Keppel Corporation,hosted a nine-memberdelegation from Hefei City,Anhui Province, led by MrWu Cunrong, Secretary ofthe Communist Party ofChina (CPC) Hefei MunicipalCommittee.The delegation wasintroduced to the Group’sc o r e b u s i n e s s e s a n dcapabilities. Party SecretaryWu also shared on recentdevelopments in Hefei City,as well as opportunities forcollaboration with Keppel.to develop and operatet h e K e p p e l Wa n j i a n gInternational ColdchainLogistics Park to provideintegrated third-party logisticsand cold chain services forthe distribution of food andagricultural produce forHefei and Lu’an region.The delegation also visitedR e f l e c t i o n s a t K e p p e lBay, where they enjoyedthe breathtaking view ofKeppel Bay and its multipleaward-winning Marina.Separately, earlier on20 November 2012, about50 Chinese officials whoare attending the Mastersin Public Administrationand Management Programmein the Lee Kuan Yew Schoolof Public Policy (LKYSPP)visited the Keppel SeghersTuas Waste-to-Energyplant and Reflections atKeppel Bay.The participants werei n t ro d u c e d t o K e p p e lSeghers’ global operations,while a plant engineerguided the delegation ona tour and explained theincineration process and thetypes of waste collected inSingapore.In the same week, 24 delegatesfrom the CPC NantongMunicipal Committee wereinvited by Keppel NantongShipyard to visit KeppelSingmarine in Singapore on22 November 2012,as part of their learningtour of Singapore and itsdevelopment strategies.K e p p e l S i n g m a r i n eshowcased its capabilitiesin specialised shipbuilding,in-house technologicalexpertise, and stellar trackrecord to its visitors through ayard tour and a presentationof its business and growthplans. Apart from buildingrelations with the districtofficials of Gangzha, whichis a part of Nantong, the visitwas organised to strengthenthe partners’ confidencein the growth prospects ofKeppel Nantong Shipyard.keppeliteEarlier in November 2012,Keppel Telecommunications& Transportation entered intoa joint venture with partnersDelegates from the CPC Nantong Municipal Committee meet with Keppel Singmarine senior management as part of their overseas learningtour to SingaporeKeppelite I December 2012

Sustaining Growth 35URA showcasesTianjin Eco-CityT h e ‘ S i n o - S i n g a p o r eTianjin Eco-City: Modelfor Sustainable UrbanDevelopment’ exhibit waslaunched by the UrbanRedevelopment Authority(URA) of Singapore on16 November 2012.Sino-Singapore T ianjinEco-City (Tianjin Eco-City) isa landmark bilateral projectbetween Singapore andChina to create a practical,scalable and replicable modelfor sustainable development.It showcased significantachievements to date, as wellas the collaboration betweenboth countries’ governmentagencies and companies.The exhibition was organisedwith the Sino-SingaporeTianjin Eco-City Investmentand Development Co.,Ltd (SSTEC), with supportfrom Sino-Singapore TianjinEco-City AdministrativeCommittee (ECAC). SSTEC,the master developer of theTianjin Eco-City project, is a50-50 joint venture formedby Keppel-led Singaporeconsortium and the Chineseconsortium.In conjunction with thelaunch, a seminar wasorganised for policy makers,urban planners and industryprofessionals to share keylessons and experiencesgained in planning anddeveloping the project.SSTEC’s CEO Mr Ho TongYen and ECAC’s DeputyInspector, Mr Li Dong sharedfuture plans for the project.keppeliteMr Wong Fook Seng, ED (Operations) of Keppel FELS sharing the company’s journey tomanufacturing excellenceRaising standardsKeppel FELS was the firstlocal company to receive theprestigious ManufacturingExcellence Award (MAXA)in 2008. It joined a selectgroup of companiesrecognised for attaining thehighest global standards inmanufacturing innovationand excellence.Sharing its experiences in itsproductivity and innovationjourney, the yard hosteda visit for participants ofMAXA’s ManufacturingExcellence Community– a knowledge-sharingplatform for participantsto learn from past MAXAwinners.Mr Wong Fook Seng, ED(Operations) of Keppel FELSshared, “Our Keppel yards areorganised like a productionline – our vessels move easilyfrom one production stageto another due to the designof our yards. We are ableto work around the clockand get things done quicklybecause we have teamsaround the world.”MAXA is jointly managedby Singapore EconomicDevelopment Board,Singapore-MassachusettsInstitute of TechnologyAlliance and SingaporeManufacturers’ Federation.keppeliteMr Teo Soon Hoe (left), Senior ED of Keppel Corporation, hosted a dinner for Mr Li Dong(right), ECAC’s Deputy Inspector and other ECAC officialsKeppelite I December 2012

36 Sustaining GrowthSustainable solutionsK e p p e l I n t e g r a t e dEngineering (KIE) shared aboutits proprietary technologiesand management processeswith guests to its wasteand wastewater treatmentfacilities in Singapore andQatar recently.Visiting KIE’s Singaporeoperations was a groupof delegates hailing fromthe Republic of Estonia on20 November 2012. Thedelegation, comprising boardmembers from various wastemanagement companies inEstonia, visited KIE on therecommendation from theWaste Management andRecycling Association ofSingapore.They sought to exchangee x p e r i e n c e s i n t h emanagement and recycling ofwaste and were hosted by MrLim Chiow Giap, SGM at KIE,and welcomed by Mr SonnyAswani, Honorary Consul forthe Republic of Estonia.On 7 December 2012, amulti-agency delegation fromAbu Dhabi also visited theKeppel Seghers Ulu PandanNEWater plant to understandSingapore’s approach towater management. Ledby Mr Abdulla Al Yousef,Associate Director ofEconomic and Energy Affairs,the group included officialsfrom the Abu Dhabi Waterand Electricity Authority, theRegulation and SupervisionMr Choi Shing Kwok (fourth from left), Permanent Secretary for Ministry of Environment and Water Resources, and members of his delegationvisited the DSWMC in Qatar. They were hosted by Mr Oon Ee Heng (third from left), GM of DSWMC and Mr Geoffrey Piggott (fifth from left),Regional Manager for Middle East and North Africa, KIEMr Lim Chiow Giap (back facing camera), SGM of KIE, provided an overview of KeppelSeghers’ global activities to the delegation from EstoniaBureau of Abu Dhabi, theEnvironment Agency of AbuDhabi and the Abu DhabiNational Energy Company.Over in Qatar, Singapore’sPermanent Secretary forthe Ministry of Environmentand Water Resources, MrChoi Shing Kwok visitedthe Domestic Solid WasteM a n a g e m e n t C e n t r e(DSWMC) on 4 December2012.DSWMC was designed, builtand is currently operatedby Keppel Seghers. As thefirst integrated facility in theMiddle East and designedto serve the whole of Qatar,the DSWMC serves as ashowcase of the advantagesof an integrated wastemanagement approach.keppeliteFruitfulexchangeAs part of the ongoingexchange with theSustainable EnergyDevelopment Authority(SEDA) of Malaysia, MrLoh Ah Tuan, Director ofKIE, was invited to be onthe panel of examiners fortechnical presentationswhich form part of thecompetency evaluationof a training courseorganised by SEDA forthe Energy Institute ofMalaysia.SEDA has had numerouscollaborations withKIE, including a plantvisit to Keppel SeghersTuas waste-to-energyplant earlier in Junethis year and invitingKIE to present technicalpapers.Keppelite I December 2012

Sustaining Growth 37Prepared at all timesERM and BCM workshops have been rolled out across Keppel Batangas Shipyard and Arab Heavy Industries to bolster the Keppel O&M group’s risk management culture and capabilitiesTo b o l s t e r t h e r i s kmanagement culture atits overseas units, KeppelO f f s h o r e & M a r i n e(Keppel O&M) conductedEnterprise Risk Management(ERM) and BusinessContinuity Management(BCM) workshops atKeppel Batangas Shipyardin the Philippines andArab Heavy Industries (AHI)in Ajman, UAE. Throughinteractive case studiesand discussions,m a n a g e m e n t a n dsupervisory staff familiarisedthemselves with the group’sframework and approach toidentifying, assessing andtackling risks. keppeliteDemonstrating readinessIn line with Keppel Land’saim to be ever-readyto tackle emergenciesand crises should theyoccur, ground staff atits properties regularlyparticipates in drills andexercises.with safety as their top priority.They learnt that having clearcommunication channels andquick responses were critical.Areas for improvement wereidentified to enhance theeffectiveness of the units’emergency response plans.keppeliteIn December, Keppel Landunits – Marina at Keppel Bayin Singapore and JakartaGarden City in Indonesia– held drills, with mockscenarios of outbreaks ofan influenza pandemicand social unrest,respectively.In both scenarios,participants acted swiftlyTo familiarise staff with procedures in case of emergencies, regular drills such as this mock demonstration was staged at Jakarta Garden Cityin IndonesiaKeppelite I December 2012Keppelite I December 2012

38 Empowering Lives38 Empowering LivesSwinging good timeKeppel Corporation’s Group Corporate Communications (GCC) hosted its annualFriends of Keppel party on 11 December 2012, to thank Keppel’s businessassociates, industry partners, government officials and media and analyst friendsfor their longstanding support. Themed “Swinging Sixties”, the soiree saw seniormanagement and guests grooving to 60s music and basking in excellent company.1 23 4 56 71. Mr Choo Chiau Beng (centre), CEO of Keppel Corporation and Dr Ong Tiong Guan (left), MD of Keppel Energy mingling with guests; 2. Mr Michael Chia (left), MD (Marine) and MD (Technology)of Keppel Offshore & Marine and Mr Oh Lock Soon, President (Thailand) of Keppel Land unravelling the puzzles at the party; 3. Mr Tay Lim Heng (left), CEO of Keppel Integrated Engineering withAmbassador Tony Siddique; 4. Mr Tong Chong Heong (right), Senior ED of Keppel Corporation and CEO of Keppel Offshore & Marine sharing a laugh with Mr Ronnie Lim of The Business Times;5. Lee Chin Siang and Jocelyn Chan of GCC lifting party spirits as hosts for the evening; 6. Liew Yuen Cheng, Senior Asset Manager of K-Green Trust; GCC’s Eva Ho and Frances Teh; Ms WangLook Fung, Director of Group Corporate Affairs, Keppel Corporation; Mr Chow Yew Yuen, COO of Keppel Offshore & Marine; GCC’s Roy Tan and Lee Chuiling and Ms Cindy Lim, GM, Group HR,Keppel Corporation; 7. Mr Jeremy Thia from DBS; Mr Louis Chua and Mr Gerald Wong from Credit Suisse; GCC’s Ms Chua Ying Ying; Ms Hu Juanxin and Mr Ding Qilin from Xinhua News Agency(Singapore Bureau); Mr Goh Toh Sim, Chief Representative (China) from Keppel CorporationKeppelite I December 2012

Empowering Lives 398 910 1112 13 148. Mr Manraj Sekhon (far left) from Fullerton Fund Management and his wife (far right), Mr Choo and wife, Mrs Eileen Choo; and Mrs Stephanie Yuen-Thio from TSMP Law Corporation;9. Ms Tan Siok Sun (centre) from SMU with GCC’s Roy Tan and Eva Ho; 10. Mr Patwant Singh from Channel Newsasia and his wife; Mr Kevin Lim and Mr Ashuman Daga from Thomson Reuters;11. Mr Bernard Tan from PUB; Ang Lai Lee from GCC and Mr Lim Tow Fok, GM, Keppel Land; 12. Mr Alvin Tay from the Business Times; 13. Mr William Goh, Director, Temasek Holdings;14. Lee Wan Jun of GCC; Mr Dale Wainwright from TradeWinds; and Ms Crystal Chan from IHS FairplayKeppelite I December 2012

40 Empowering LivesWelcome onboardMore than 240 newKeppelites were welcomed toKeppel on 11 December 2012at the Group Orientation.Mr Choo Chiau Beng, CEOof Keppel Corporation,highlighted in his openingaddress the importance ofteamwork and encouragednew Keppelites to tapinto the Group’s collectivestrength. He said, “We area team of 40,000 peoplefrom different businessunits. We must be able andwilling to ask for help andto offer assistance whenneeded.”Mr Choo also emphasisedinnovation and peopledevelopment in the successof Keppel.Mr Tong Chong Heong,S e n i o r E D o f K e p p e lCorporation and CEO ofKeppel Offshore & Marineand Mr Loh Chin Hua, CFOof Keppel Corporation alsoshared their knowledge andexperience, as well as visionfor the Group.The orientation comprisedcorporate presentations anda tour of various Keppeloperations and sites.Keppel Corporation’s CEO, Mr Choo Chiau Beng (far right) interacts with fresh KeppelitesMs Stehanie Ang, Associatefrom Keppel Corporation’sGroup Internal Audit, whojoined three months ago,said “The site visits to theyards were interesting andeye-opening. I could feelthe passion of the Keppelitesworking there.”Close to 500 Keppelitesattended the biannualorientation this year. keppeliteBalancing actYoung Keppelites share their aspirations and suggestions for the Group in regular ‘TalenTime’sessions with senior managementWhat does it take to keepyou with the company forthe next 10 years?13 young Keppelitesshared their views ina ‘ Ta l e n T i m e ’ s e s s i o no r g a n i s e d b y K e p p e lCorporation’s Group HR tofoster open communicationa n d e x c h a n g e w i t hsenior management on26 November 2012.The topic sparked a livelydiscussion on the importanceof not only attracting astrong pool of talents butretaining them – paramountto the sustainability of anyorganisation.While many considered careerprogression, personal growthand recognition as part ofthe pull factors to keep themin the organisation, almostall agreed that work lifebalance was an overarchingconsideration.“Open communication withthe management is a greatway for us to share ourpersonal aspirations andhopes in the company, andlearn that the managementalso values and understandsour sentiments”, sharedMr Say Huan Yuan, AssistantManager, Business Planning atKeppel Telecommunications& Transportation. keppeliteKeppelite I December 2012

Empowering Lives 41Grow local, think globalRobust exchanges andinspiring moments. Thesewere the positive takeawaysfrom many amongst 28Keppelites who recentlya t t e n d e d t h e G l o b a lAdvanced ManagementProgramme (GAMP). Theyhailed from China, Vietnam,Qatar, Belgium and as faras Brazil.For 10 intensive days from12- 22 November 2012 at theNanyang Executive Centre,they were engaged in deepdiscussions and project workwith eminent trainers overdiversified topics such asmergers and acquisitions,global strategic leadership,strategic communications,v a l u e c r e a t i o n , r i s kmanagement and corporategovernance.Senior management wasat hand to share theirexperience and contributeto the dynamic discussions.In particular, many found theinformal sharing by KeppelCorporation’s Senior EDMr Teo Soon Hoe personaland stirring.M r Te o e n c o u r a g e dKeppelites to surface goodideas to a receptive seniormanagement and sharedhow as a young Keppelite,he was also given muchbandwidth to explore ideasand opportunities.Wong Liang Kit, SeniorInvestment Manager, KeppelLand China shared, “TheGAMP was an enrichingexperience at many levels.Not only did we learn fromthe trainers, it was a greatopportunity to interact withfellow Keppelites, and thefree-exchange of ideas andinsights was invaluable!”His sentiments were shared byChua Ying Ying, AGM, GroupCorporate Communications,Keppel Corporation, ”Theprogramme provided a greatplatform to meet and interactwith Keppelites from acrossthe Group and the globe.“It really fostered the feelingof belonging in the Keppelfamily. In fact, our groupgelled together so well thateven after the course, we arekeeping up our connectionand in touch with eachother.” keppeliteParticipants from the Global Advanced Management Programme pose with Mr ChooChiau Beng (fourth from left), CEO of Keppel Corporation, after receiving their graduationcertificatesParticipants show their camaraderie after completing 10 full days of the intensive executiveprogrammeMr Liat Teng Lit, Group CEO, Alexandra Health System, shared on ‘Managing change: Trials& Tribulations of a Practitioner’, given his rich experience in reconstructing major hospitals inSingaporeThe participants enjoying a meal together with Dr Ong Tiong Guan (extreme right), MD ofKeppel Energy, Mr Chow Yew Yuen (second from right), COO of Keppel O&M and Ms CindyLim (next to Mr Chow), GM of Group HR at the HortParkKeppelite I December 2012

42 Empowering LivesCross border exchangeAs part of its peopledevelopment efforts, KeppelREIT and Mirvac Property Trust(Mirvac) sent two employeeseach on a mutual exchangeprogramme from Septemberto November 2012. Mirvacis Keppel REIT’s joint venturepartner for 8 Chifley Squarein Sydney and a new officetower to be developed onthe site of the Old TreasuryBuilding in Perth.The exchange saw KeppelREIT’s VP of Capital Markets,Ivan Lim (IL), and VP ofInvestment, Anthea Lee(AL), head over to Mirvac’shead office in Sydney, whileMirvac’s Property ManagersTroy Darcy (TD) and CormacDunne (CD), spent time inKeppel REIT’s headquartersin Singapore. The four sharedtheir cross border experiencewith Keppelite.CD: The weather in Singapore!It was a good thing that wedid not have to wear a tie andjacket to work every day!What is the biggestdifference betweenliving in Singapore andAustralia?IL: Australians generally leada well-balanced life. Mostof them do not go out forlunch – they pack lunchboxes and work through thehour so that they can finishby 5pm. The rest of the daywould be spent exercising,drinking with friends orgoing home to be with theirfamilies. This is something Ihope to learn from them.TD: The size of the countryand population density –Singapore is about 700 sqkm, which is about one-fifthof the Sydney metropolitanarea, but with more peoplethan what we have in Sydney!What impresses me most isSingapore’s well-plannedtowns and extremely efficientpublic transport network.What of Singapore areyou most impressedwith?CD: The commercial assetsare so well-planned andintegrated into the Singaporesystem. They provide asolid foundation that willsee Singapore continue tobecome one of the world’stop cities.What do you think liesin the future for Sydneyand Australia?AL: A waterfront city,Sydney’s CBD centresaround the Sydney cove,which offers spectacularviews of the harbour andSydney Opera House. Theunique blend of Victorianstyledbuildings alongsideswanky new skyscraperswill continue to attractinvestors who seek acosmopolitan city with astrong heritage.IL: Australia is a stable anddeveloped economy withan established legal systemand low sovereign risks.Sydney is well-positioned tocontinue on a growth path,especially in view of thestate’s A$62billion plannedinvestment to improvethe infrastructure in NewSouth Wales. keppeliteWhat was the biggestchallenge you had toovercome during yourstint?AL: Before starting ourprogramme, we thoughtthat the cultural differencesfrom working in a non-Asian environment wouldrequire some adjustment.However, we were lucky tohave friendly colleagues atMirvac, some of whom wehave already met from thelast two transactions and wefound that we fitted into ournew roles fairly quickly.Keppel REIT Management’s CEO Ms Ng Hsueh Ling (from left) and Toh Wan San, SVP of Asset Management, with Mirvac’s Property Managers,Troy Darcy and Cormac DunneKeppelite I December 2012

Empowering Lives 43Making wavesFrom team-building to knowledge sharing sessions, Keppel Young Leaders aims to develop the Group’s talent pool and create a cohesive and high-performance Keppel teamKeppel Young Leaders havemade waves of fun andfriendship at sea and on landin sailing and mass movieoutings recently. Rich insightsalso flowed in a knowledgesharingsession based ona business case study onKeppel AmFELS.Sailing throughchallengesOn 30 October 2012,12 members of the maincommittee hoisted their sailsfor Nongsa Point Marinain Riau Islands, Indonesiaon a three-day teambuildingexercise. OnboardBeneteau yachts, Endeavourand Venture, they weresupervised by Keppel BaySailing Academy’s principal,Tan Thong Meng, and chiefinstructor, Lynnette Leong.Tay Parng Tzuan, LeadEngineer from KeppelSeghers, enthused, “Notonly did I learn how tosail, I also sharpened mycommunication skills andfostered stronger bonds withmy team members duringthe process. I enjoyed thisteam-building exercise andit was definitely time wellspent.”Friendship in thespotlightMore than 100 KeppelYoung Leaders and theirfamilies also made wavesof friendship, not at sea,but at the cinemas afterwatching the inspirationalmovie, ‘Chasing Mavericks’on 24 November 2012. Theannual event provided aplatform for members tointeract with each otherand senior management,including Guest-of-HonourMr Choo Chiau Beng, CEOof Keppel Corporation.Mr Loh Kee Huat, AssistantYard Manager of KeppelSingmarine and GM of PrimeSteelkit, passed the baton ofPresidency of Keppel YoungLeaders to Mr Ivan Lim,AGM (Operations) of KeppelShipyard. Mr Lim shared,“We hope that throughtargeted projects and events,Keppel Young Leaders willcontinue to galvanise ournext generation leaders, honetheir leadership qualitiesand provide more avenuesfor their well-roundeddevelopment.”Learning by sharingKeppel senior managementand team members of theKeppel AmFELS Case StudyProject also shared theirknowledge and views ofKeppel’s operations in the USat a knowledge-sharing eventorganised by Keppel YoungLeaders. More than 100Keppelites from across theGroup attended the session.Enrique Mena, ProjectManager at Keppel AmFELSand Tay Khon-Whey,Marketing Executive atKeppel AmFELS, representedtheir team in introducing thehistory and operations ofKeppel Offshore & Marine’s(Keppel O&M) yard inBrownsville, Texas.The presentation wasf o l l o w e d b y a p a n e ldiscussion helmed byKeppel O&M’s COO Mr ChowYew Yuen; MD (Marine) andMD (Technology) Mr MichaelChia, SGM (Special Projects)Mr Ho Cheok Yuen; andMr Tan Geok Seng, Presidentand CEO of Keppel AmFELS.The panelists provided detailson the strategies of KeppelAmFELS and the Gulf ofMexico oil and gas industry.They also highlighted theirpersonal experiences aswell as lessons learnt fromworking in the US. keppeliteKeppelite I December 2012

44 Empowering LivesAppreciation to staff12 3 4561. The beautiful ‘Keppel batik’ encapsulates Keppel’s core value of collective strength 2. Revelling in the festive cheer were Keppel management (from left): Ms Magdeline Wong, GM of GroupTax; Ms Tan Eng Hwa, GM of Group Internal Audit; Ms Wang Look Fung, Director of Group Corporate Affairs; Mr Chee Jin Kiong, Director of Group HR; Mr Lai Ching Chuan, GM of CorporateDevelopment and Planning and Ms Tina Chin, GM of Group Risk Management 3. CEO Mr Choo pitches in to complete the batik painting 4. Keppelites shared well wishes for the companyon notecards hung on the Christmas tree 5. Bonding through artistic expression – Keppelites engaged in the traditional art of batik painting 6. Mr Lai Ching Chuan (left), GM of CorporateDevelopment and Planning received his 35-year Long Service Award from CEO Mr ChooKeppelite I December 2012

Empowering Lives 457 87. Mr Loh Chin Hua, CFO of Keppel Corporation (centre, seated) joined the Keppel family in 2002 as MD of Alpha Investment Partners (AIP). He is pictured here with his former team at AIP8. Ms Lynn Koh, GM of Group Treasury, pictured here when she first started her lifelong career with Keppel some 30 years agoSome 140 Keppelitescame together to toastfriendship and ring in asuccessful year ahead atKeppel Corporation’s yearendparty on 13 December2012, organised byGroup HR.CEO Mr Choo Chiau Bengthanked Keppelites fortheir commitment and effortsover the past year.Keppelites were treated toa sumptuous buffetspread, a magic show bySingaporean illusionistJeremy Pei, and a Christmascarol performance. Inaddition, Keppel lent itssupport to the NationalArts Council’s Arts@Workprogramme by invitingemployees to participate ina hands-on batik paintingsession.Exemplary KeppelitesSix loyal Keppelites werehonoured with Long ServiceAwards ranging from10 years to 35 years.Mr Loh Chin Hua, CFOof Keppel Corporation,Annie Chung and Teo PingHan of Group InternalAudit, and Suam Chee Kitof Group Risk Managementw e r e a w a r d e d t h e10-year award. Ms LynnKoh, GM of Group Treasurywas awarded the 30-yearaward, and Mr Lai ChingChuan, GM of CorporateDevelopment and Planningwas awarded the 35-yearaward.Mr Loh shared, “Many havecommenced their careersat Keppel and are still verypassionate about what theydo after so many years.There must be something inthe water at Keppel! Here,challenges are savouredand nothing is too difficult.Such tenacity is perhapsnot unusual in successfulorganisations. What isperhaps more unique andheart-warming is the carethat Keppelites have for oneanother, and the sense ofbelonging.”To young Keppelites,Mr Loh advised, “It does notmatter what your job titleis, nor the size of your job.The important thing is toembrace Keppel’s values anddesire to excel. Give yourselfa chance to learn, to growand to be noticed and pickedfor bigger roles.”Mr Lai shared, “35 yearsis a long time but I havenever had a dull momentin Keppel. I joined after mynational service and neverleft. Less than a year afterjoining Keppel Shipyard in1977, I was sailing on aKapal Management ship fromKotka in Finland to PrinceRupert in Canada. Keppel haskept me on the road aroundthe world ever since, whilerotating through 10 differentjobs in various business unitswithin the Group.“I have been privileged towork with many of our topexecutives, including MrSim Kee Boon and Mr ChooChiau Beng, and been involvedin many of our developmentsglobally. Keppel offersbountiful opportunities,especially to those who arewilling to step up to newchallenges and move out oftheir comfort zone.”Also sharing her thoughtswas Ms Koh,“Keppel hasgrown significantly from aship-repair company whenI joined 30 years ago to theconglomerate that it is today.Keppelites are always givenopportunities to learn andgrow with the company, andsuch valuable experiencesand challenges that stretchone’s potential are what Iappreciate most.” keppeliteKeppelite I December 2012

46 Empowering LivesGuts and gumptionFour months of intensecompetition spanning 14sports and games haverevealed the steely guts,grit and gumption ofKeppelites.The Keppel Games hasproven to be a much-lovedplatform for Keppelites fromall business units to pursuetheir sporting interests whilecoming together to forgefriendships and build bondsacross the Group.OverallScoreboardTrophies garnered908Team AtlanticGrand finaleBowlingSepak takrawTennisFlag designcompetition1049Team CaspianOverall challengetrophyBasketball9-a-side soccerBadmintonDartsNetballGolf (joint winner)793Team PacificDragon boatCybergamesPoolTable tennisGolf (joint winner)The four-month long Keppel Games ended with a bang at the Grand Finale, which saw a colourful variety of events, including long distance races, a march-past, soccer finals, track events, the inauguralswimming event and fun telematchesKeppelite I December 2012

Empowering Lives 47The 2012 season ended ona rousing note with TeamCaspian winning the OverallChallenge Trophy onceagain. The Grand FinaleChallenge Trophy was won byTeam Atlantic.The closing event, held atthe Ngee Ann Polytechnics p o r t s c o m p l e x o n25 November 2012, sawsenior management andKeppelites bask in anatmosphere of friendshipeven amidst the finalcompetitions.Testing enduranceStarting the day early, thelong distance runners wereflagged off by Mr HoeEng Hock, ED of KeppelSingmarine and President ofKeppelite Recreation Club.The competitors’ staminaand endurance were putto the test as they strodedistances between 3 and 5km each.Displaying solidarityUpon the arrival of Guestof-Honour,Mr Choo ChiauBeng, CEO of KeppelCorporation, the participantshailing from various businessunits marched in full forcein their respective teamsin a show of unity andcamaraderie.Scoring goalsOver in the soccer fields, thefinal face-off was played outbetween Team Atlantic andTeam Caspian. They wereevenly matched with a 0-0 tiefor most of the game, withTeam Atlantic scoring theirwinning goal just before thewhistle was blown.While Team Atlantic claimedthe champion position insoccer, Team Caspian hadearlier taken the second andthird positions and securedthe soccer challenge trophy.TrackingachievementsExcitement was on the tracksas the sprinters showedoff their explosive bursts ofspeed in the athletics events.They also worked in teams tovie for the prizes in the teamrelay races, comprising men,women and veterans alike.Pooling strengthsOver at the pool, swimmerswere eager to pit theirprowess against each other.Being the first swimmingevent organised at KeppelGames, Keppelites wereawed by their colleagues’swimming abilities. Loudcheers went out to allcompetitors for their sportingparticipation.Unleashing potentialThe final events were thetelematches, where theteams showcased teamworkand fun-loving spirit in gamessuch as hula-dancing and amass skipping competition.With a packed day ofintense competition andfun, the finale marked afitting conclusion to KeppelGames 2012, with its theme“Unleash Your Potential”.keppeliteKeppelite I December 2012

48 Empowering LivesSteadfast spiritSenior management and staff donned their masks for the KIE Dinner and Dance 2012 themed‘Phantom of the Opera’Mystery filled the air atK e p p e l I n t e g r a t e dEngineering’s (KIE) annualDinner & Dance held atthe Orchard Hotel on30 November 2012. Theparty, themed ‘Phantom ofthe Opera’, saw staff andsenior management donthe iconic ‘Phantom’ maskfor a night of revelry andcelebration.Chairman Mr Tong ChongHeong and CEO Mr Tay LimHeng thanked 46 veteranstaff for their steadfast spiritand service to the company,and presented them with theLong Service Awards, rangingfrom 10 to 40 years.Mr Ho Yaw Meng, AGM atKeppel FMO, who receivedthe 40-year Long ServiceAward shared, “Havingpassion for my work andhaving great colleaguesaround to support me waswhat kept me going for solong. I am happy that thecompany appreciates theeffort that we put in.”Staff took home attractivelucky draw prizes andmemories of merrimentshared with colleagues.keppeliteTasty treatTo thank the 25 Keppelitesand their children whoparticipated in the 2013Keppel calendar, ‘Eye on theFuture’, Keppel Corporation’sG r o u p C o r p o r a t eCommunications treatedthe families to a matineeperformance of Wild Rice’slatest production, ‘Hansel& Gretel’ on 8 December2012.The musical, which was basedloosely on the famed Germanfairy tale, was pepperedwith local flavour – fromthe pandan chiffon cakesthat adorned the Witch’swindows to references thatwere uniquely Singaporean.The performance featured30 budding talents as youngas four and got its audience,adults and children alike,tapping their feet, singingalong and reaching outfor candy that were tossedplayfully from the stage.Mr Zulkiffle Idris, Health,Safety and EnvironmentOfficer from Keppel Shipyardraved, “My family and I reallyenjoyed the show. It was ourfirst time watching a theatreperformance and now, weare hooked!” keppeliteKeppelites and their children gave Wild Rice’s ‘Hansel & Gretel’ the thumbs upKeppelite I December 2012

Empowering Lives 49Keppelites AbroadFlavourful experiencesTo Mr Oh Lock Soon, 54,President (Thailand) ofKeppel Land, Bangkok is asecond home and more. Hewas posted there to headKeppel Land’s Thai unit inDecember 2011. KeppelThai Properties is developingtwo landed housing projectsin Bangkok under the VillaArcadia brand.One of his main goals is toinculcate Keppel values inthe local team and to laystrong foundations fromwhich Keppel Thai Propertiescan continue to flourish.He shared, “Thailand hasa resilient and dynamiceconomy. Leveraging ourtrack record as a premierdeveloper, Keppel Land iscreating quality havens herethat will have enduring valueto the local communities.”Having lived and workedin Bangkok in his previousemployment six years ago,Mr Oh uses his familiaritywith the local culture andcustoms to his advantage.Swiftly adapting to localsocial customs such as thetraditional wai greeting andlearning basic Thai phraseshas helped him to integratequickly with his staff.He added, “It helps thatin Thai, quite a few wordsmean the same thing infamiliar dialects like Hokkienand Teochew; ‘tok’ for ‘table’and ‘kaoyi’ for ‘chair’. Thesimilarities in the languagesare probably due to the olderThai Chinese speaking thesedialects when they migratedto this country more than acentury ago.”A self-professed foodlover, Mr Oh is intrigued byThailand’s distinctive andflavourful cuisine, which usesan assortment of spices. Heenthused, “Dishes preparedin Thai kitchens, no matterhow simple, have a visuallyappealing edge over itsequivalent anywhere else.With dashes of sugar, limejuice, ground peanuts,fish sauce and cut chilli asembellishment to a simplebowl of noodles, this createsa symphony of coloursand hues.”The avid golfer also has nolack of lush greens withnumerous golf courseswithin and around Bangkok,which he uses to relax as wellas network with businessassociates.Despite the allures of the ‘landof smiles’ with its shoppinghavens, idyllic beaches, andtip-top hospitality standards,for Mr Oh, “There is noplace like home”. Withwife Joanna and childrenBernice, 25, and Bryan, 21,back in Singapore, he staysin touch with his familythrough daily video calls andtext messages.Currently serving as Vice-Chairman of the Singapore-Thai Chamber of Commerce,he often organises andparticipates in outreachefforts to help needy villagersfrom the less-developedmountainous areas inChiangrai.A champion for charitablecauses, he makes it a pointto bring his whole familyalong to help whenever hecan. His children, who aremedical professionals, havealso roped in colleaguesfrom the National UniversityHospital of Singapore tojoin their last trip toChiangrai to help implementsustainable medical practicesin rural areas.Mr Oh Lock Soon (in blue), President (Thailand) of Keppel Land, contributes actively to outreach efforts in less-developed villages of ThailandMr Oh’s Can-Do! spirit anddesire to build strong, lastingties with the community arewhat he believes will carryhim through any situation inlife, work and play. keppeliteKeppelite I December 2012Keppelite I December 2012

50 Nurturing Communities50 Nurturing CommunitiesGreener pasturesHome to one of China’s leading golf courses, Keppel Land’s Spring City Golf &Lake Resort (Spring City) in Kunming, is a certified ‘Classic Sanctuary’ by AudubonInternational. Keppelite reproduces excerpts of an interview with Spring City’s GMfor Operations, Mr Lau Tong Chye, by online Chinese golf portal funfungolf.com onthe resort’s environmental efforts.Q: Spring City hasplaced much emphasison environmentalprotection since itstarted operations. Howdo you promote andsustain this mindset?A: Environmentalprotection does not justmake better business sensefor us – it is our corporatesocial responsibility. SpringCity has consistently madeefforts since it startedoperations in areas ofenvironment managementincluding pesticide andinsecticide control,chemical safety as wella s w a t e r a n d e n e r g yconservation. These requirethe implementation ofscientific and professionalmethodologies, executedcollectively in a sustainedmanner by managementand staff over the years.Q: What are some of theenvironment protectioninitiatives that SpringCity has implemented?A: We make consciouse f f o r t s t o p r e s e r v ebiodiversity. For more thana decade, we plant manyspecies of trees yearly tohelp in the habitation ofwildlife such as songbirds,squirrels, butterflies, rabbitsand many different insectspecies.For the safe application ofchemicals, keen observationof the weather helps inpreventing chemical andfertiliser wastage, improvestheir usage efficacy andminimises the pollution ofwater bodies. We also payattention to the managementof water resources and theseinclude the recycling ofgroundwater and irrigationmanagement.We also encourage staffto adopt water and energysaving practices. Every year,we participate in eventssuch as World EnvironmentDay, Tree-Planting Day, andEarth Hour to promoteenvironmental awareness.Q: What are some of theenvironmental accoladesSpring City has attained?A: In 2009, Spring City wasrecognised as an AudubonCooperative Sanctuary byAudubon International, aninternational environmentalorganisation. A year later,we became the third golfclub in the world to receivethe enhanced accolade ofAudubon Classic Sanctuary.Golf Magazine China alsoConscious efforts in the design, construction and maintenance of Spring City in Kunming,China, help to preserve the biodiversity of the areapresented us with the BestEnvironmental InnovationAward and Best Eco-Friendliness Award in 2010and 2012 respectively. Ourresidential developmentproject, La Quinta (Phase 1)has received the Green MarkGold Award by the Buildingand Construction Authorityof Singapore.Q: Spring City hasrecently built a 1.7-kmnature trail with manyspecial plant species.Can you tell us moreabout it?A: There are over 300 plantspecies along the nature trail,mostly native to the Yunnanprovince. These plants adaptwell to the Kunming climate,are relatively easy to maintainand at the same time beautifyand protect the environmentby preventing soil erosion.Information boards placedalong the trail help tospread the message of theimportance of preservingbiodiversity. keppeliteKeppelite I December 2012

Nurturing Communities 51Pink of healthMr Tong Chong Heong, CEO of Keppel Offshore & Marine (right) receiving the HEALTHAwards from Dr Amy Khor, Minister of State for Health and Manpower (centre) and Mr AngHak Seng, Chief Executive of HPB (left)H e l p i n g t o k e e p i n gemployees in the pink ofhealth has helped the KeppelGroup reap the benefits of afit and productive workforce.For its efforts, the Groupreceived recognition at thisyear’s Singapore ‘HelpingEmployees Achieve Life-timeHealth’ (HEALTH) Awards,organised by Singapore’sHealth Promotion Board(HPB).K e p p e l S h i p y a r d a n dKeppel FELS each receivedthe Platinum Award, whileKeppel Land and KeppelLogistics clinched Gold,and Keppel Corporationwon Silver. To be eligiblefor the Platinum Award,the organisation must havewon at least two consecutiveGold Awards.Gracing the ceremonyas Guest-of-Honour wasDr Amy Khor, Minister of Statefor Health and Manpower,who awarded the trophiesto winners. keppeliteActive for lifeThe annual Keppel FELSActive Day, recently heldon 30 November 2012, isone of the ways in whichthe company promotesa healthy lifestyle at theworkplace. The sloganfor this year’s event, ‘BeKind. Be Safe. Be Healthy.’highlights the importantlink between personalacts of kindness and ahealthy and productiveworkforce.safely and efficiently,” sharedArun, a Keppel FELS hullproduction steel worker.Over at Keppel Shipyard,health promotion campaignssuch as smoking cessationprogrammes, coupled withcounselling and support forsmokers wanting to kickthe habit are also in place.Regular talks on topics such asworkplace communicablediseases, hypertension andcholesterol managementa re a l s o c o n d u c t e dthroughout the year.“This has been my fifthyear attending the eventand I am always excitedto be part of this activityinvolving employees andsenior management. Itencourages us to stayactive and healthy so thatour work can be carried outManagement including Mr Chow Yew Yuen, COO, and employees of Keppel O&M participating in a fun mass workout at the 10th KeppelFELS Active DayKeppelite I December 2012

52 Nurturing CommunitiesStep upMr Teo Soon Hoe (left), Senior ED of Keppel Corporation presenting Mr Chia Mia Chang(right), Principal of Ngee Ann Polytechnic a cheque for $30,000 which will go to the NPstudent Aid Fund, amid cheers from the NRA dancersKeppel Corporation wasthe sole Gold Sponsor ofDanzation 2012, a charitydance concert put togetherby Ngee Ann Polytechnic’s(NP) dance club, NewRevolving Age (NRA) on3 0 N o v e m b e r a n d1 December 2012.Keppel’s contribution wentto the NP Student Aid Fund,which provides financialassistance to needy students,while proceeds from thesale of the concert ticketsand t-shirts went to thePresident’s Challenge.To thank Keppel for itsdonation, Mr Chia MiaChang, Principal of NP,presented Mr Teo SoonHoe, Senior ED of KeppelCorporation with a token ofappreciation during a chequepresentation ceremony.T h e N R A d a n c e r s , i ncollaboration with localchoreographers and danceclubs, put together a rousingperformance that drewstanding ovations from afull-house audience at theNP Convention Centre.keppeliteTales of joyWith education as one ofits key corporate socialresponsibility focus areas,Keppel Land supportsthe kidsREAD volunteerprogramme, spearheadedby the National Library Board(NLB) to cultivate the love ofreading in children.A pool of about 20 KeppelLand volunteers head to thePAP Community FoundationKindergarten at TanjongPagar on a rotational basisevery Wednesday to readto children and engagethem through educationalgames.On 21 November 2012,the volunteers broughttheir young charges for anexcursion to the SingaporeArt Museum and basked inthe exhibits and an interactivearts and crafts workshop,where the children learnt tomake hand puppets.A first-time volunteerwith the NLB kidsREADprogramme, Mr NicholasTiong, Accountant at KeppelLand, shared, “It is good tobe able to step out of ourdaily routine and contributemeaningfully to society.Hearing the children’slaughter and seeing theirsmiles made this volunteerexperience truly fulfilling.”keppeliteMr Kwok Yan Hoe (centre), DGM of Sustainable Design & Knowledge Management, KeppelLand, helps a student create hand puppetsKeppelite I December 2012

Nurturing Communities 53Sound of musicKeppel REIT management brings music to Singapore’s financial district as part ofefforts to commemorate its name change and give back to the business community.The grand dame – a Steinwaypiano – is taking centrestageat Ocean Financial Centre(OFC), Keppel REIT’s newestproperty.At the launch event on14 December 2012,Dr Audrey Chin, Chairmanof Keppel REIT Management,shared, “This evening, weare going to add someseasonal lightness and joyto Singapore’s businessand financial district with arepertoire of tunes by youngbudding artistes who will beperforming on Keppel REITManagement’s brand newSteinway grand piano.The Steinway Model D-274grand piano debuted at theChildAid 2012 concert on7 and 8 December at theMarina Bay Sands GrandTheatre before taking itsplace at OFC.Ms Ng Hsueh Ling, CEO ofKeppel REIT Management,said, “As the largest landlordo f p re m i u m G r a d e Aproperties in the businessand financial district ofSingapore, we want todevelop long-term andmeaningful relationshipswith our tenants, businesspartners and the communityat large.raising funds for two childrenrelatedcharities – The StraitsTimes School Pocket MoneyFund and The Business TimesBudding Artists Fund.“Our efforts are madepossible with the support oflike-minded partners such asKeppel REIT Management.We want to thank KeppelREIT Management forgenerously contributing theirgrand piano that will be partof a performance featuringthree young musicians fromthe region.”Ms Celine Goh, GM forSteinway Gallery Singapore,shared, “OFC, which hasamongst its tenants, manymultinational conglomeratesand global corporations, willprovide musical talents withan international audiencein a world-class property.”keppelite“Keppel REIT was renamedfrom K-REIT Asia on 15October 2012. We wantedto mark this milestonewith a contribution tounderprivileged childrenthrough our partnership withChildAid, as well as give backto the business communitythrough the universallanguage of music.“We want to supportthe arts and engage thebusiness community throughmusic by organising regularperformances by youngaspiring pianists as well asprofessional musicians. Theperformances will showcasea wide variety of musicalgenres including classical,jazz and choral music.”“As we know, in music, threenotes make a chord. So this isan initiative by three partners– Keppel REIT Management,Steinway and ChildAid – tobring music that will enrichlives and also add vibrancyto Singapore’s business andfinancial district.”Mr Alvin Tay, Editor ofThe Business Times andChairman of the ChildAid2012 organising committee,said, “ChildAid is an annualshowcase of young musicaltalents who have theopportunity to perform ona world-class stage whileChildAid perfomer, 11-year-old Kennis Ang, enthralls audiences on the Steinway grand pianoat Ocean Financial CentreKeppelite I December 2012

54 Nurturing CommunitiesBowling for a causeSpecial athletes, Kian Say (in red) and Rausyan (second from right) with their team mates fromKRC 1 and KRC 2In support of SpecialOlympics Singapore,Keppelite Recreation Club(KRC) sent two teams witha $500 contribution each,to participate in its annualCharity Bowl.Ms Ainon Bte Haji MohdTaib, Senior AdministrativeAssistant at Keppel Shipyard,enjoyed the experience,sharing, “We were all pleasedto be there to encouragethe special athletes withintellectual disabilities toenjoy the competitive spiritand sport of bowling.”KRC participants paired withspecial athletes and deliveredtheir best moves and strikeson the alleys. Team KRC 1clinched the first runner-upposition in the team event,with Team KRC 2 comingin close behind as secondrunner-up.Held on 1 December 2012at NTUC Downtown EastOrchid Bowl @ E!hub, theevent received its largestsupport to date with a totalof 40 teams comprising 120players. keppeliteSpinning to gloryIn an effort to promotephysical fitness and a love forsports in those undaunted byphysical disabilities, KeppelLand contributed $10,000 insupport of the HandcyclingNational Disability LeagueSprint Race 2012.Organised by the HandcyclingAssociation Singapore (HAS)and the Singapore DisabilitySports Council, the race tookplace on 24 November 2012at the College East campusof the Institute of TechnicalEducation.Mr Foo Fung-liang, Presidentof HAS, said, “Our deepestgratitude to Keppel Landfor their kind support. Withthis sponsorship, we wouldbe able to encourage morephysically-challenged folkst o s t a y h e a l t h y w i t hhandcycling and at thesame time, raise awarenessof disability sports.”Representing Keppel Landat the event was Mr PaulLau, GM, Projects. Heshared, “Keppel Land’ssupport towards HAS forthe past three years reflectsour value of sharing withthe community. Throughparticipation in such events,we realise how fortunate weare as individuals.” keppeliteMr Paul Lau (right), GM, Projects at Keppel Land, tries his hand at handcyclingKeppelite I December 2012

Nurturing Communities 55Joyous givingKeppelites gave generously with open hearts this festive season, from donating blood to fulfilling the wishes of the less privilegedFrom donating blood tosharing joy and gifts with theunderprivileged, Keppelitesengaged in a variety ofmeaningful activities thisfestive season.Some 15 Keppel volunteersspent quality time withunderprivileged children ata carnival thrown by theJacob Ballas Children’sGarden on 18 November2012 to mark its fifthanniversary.Nine-year-old Elifiyan,who was accompanied byKeppel volunteer andCustomer Focus Manager atKeppel Land, Ms Ho ChanChan, shared his excitement,“This is my first time in JacobBallas Children’s Garden.I love the food here – there’sramly burger! I also enjoyedthe game booths and themagic show!”Over at Keppel yards andoffices, Keppelites stood inline to share their gift of lifeat the Keppel Group BloodDonation Drive between18 and 21 December 2012.The blood donation driveis organised annually byKeppel Volunteers andsupported by the HealthSciences Authority.Mr Yeo Teck Chye,Marketing Executive atKeppel FELS, who hasparticipated in the blooddrive for three consecutiveyears shared, “The donationof blood is very meaningful.I am encouraged byKeppel’s strong support forthis initiative. Christmas isall about giving and sharingand I can think of no bettergift than a donation thatsaves lives.”Keppelites and tenantsat Keppel’s commercialbuildings also steppedinto Santa’s big bootsthis Christmas to grantthe wishes of the lessfortunate.The “Grant A Wish” initiativeis organised yearly by KeppelLand’s Property Managementteam, rallying staff andtenants at Bugis JunctionTowers, Equity Plaza, Keppel/GE Towers, Ocean FinancialCentre and Prudential Towerto help fulfill the wishesof beneficiaries from theAssociation of Personswith Special Needs and theSingapore Cancer Society.keppeliteKeppelite I December 2012

56BackPagePreferred provider of drillingsolutions in MexicoKeppel FELS has won ac o n t r a c t f ro m P E M E XExploracion y Produccion,a subsidiary of Mexico’snational oil company,Petroleos Mexicanos(PEMEX), to build two KFELSB Class jackup rigs worthUS$420 million.Scheduled for delivery in1 Q 2 0 1 5 , t h e h i g hspecification rigs will be the19th and 20th KFELS B Classrigs on order at Keppel, with36 already delivered withinthe past decade.quality rigs to PEMEX safely,on time and within budget.“We are seeing moreenquiries from Mexico fornew rigs and we believeour KFELS B Class jackupdesign is well suited to meetthe requirements of theMexican market. Togetherwith our Keppel AmFELSyard in Brownsville, Texas,we aim to boost ourtrack record and establishourselves as the foremostprovider of drilling solutionsin Mexico.”When completed, the tworigs will join the list ofKFELS B Class jackup rigsalready built by Keppel forits Mexican customers. Thisincludes the PRIMUS jackuprig recently delivered toOro Negro, as well as theTonala rig operated byPeforadora Central.Mr Wong Kok Seng, MD(Offshore) of Keppel Offshore& Marine and MD of KeppelFELS, said, “We thank PEMEXfor selecting the provenKFELS B Class design asthe basis of their new rigs.With 36 rigs delivered and20 on order, the KFELS BClass design has been therig of choice for drillingoperators in meeting thehigher specification needsof their customers. We lookforward to delivering highPEMEX is the world’sfourth-largest crude producerat 2.5 million barrels perday. The Mexican nationaloil company has estimatedthat they will invest up toUS$2.4billion in 2012 inexploration, and expectto have 40 rigs eventuallyo p e r a t i n g i n M e x i c a nwaters.A senior official from PEMEXsaid, “The KFELS B Classjackup rig, such as the Tonalaand Ocean Scepter, whichare operating successfully inMexico, has proven to be anefficient, high specificationrig. The two new rigs willbe an important addition toour fleet as we expand ourexploration and productioncapabilities. We are confidentthat Keppel FELS will deliverthe rigs according to theKeppel FELS recently delivered a KFELS B Class jackup rig to Mexican customer Oro Negrospecifications required byPEMEX.”Developed by Keppel’stechnology arm, OffshoreTechnology Development,the KFELS B Class jackupdesign is able to operate inwater depths of up to 400feet and drill to depths of30,000 feet. keppelitePrinted on recycled paperKeppelite I December 2012