December Configured for growth 17. A special tribute 28. Learning and loving the arts 37.

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1 December Configured for growth 17 A special tribute 28 Learning and loving the arts 37 Milestone listing MCI (P) 153/01/2014

2 Contents SUSTAINING GROWTH Strong debut for first data centre REIT in Asia 4 Star delivery 6 Keppel Land to acquire 75% stake in 7 retail management company Strengthened portfolio New lease of life 8 Joint venture in Yangon Proven performance, perfect safety record 9 Sustainability benchmark 10 Environmental excellence Green stewardship 11 Belgian honour 12 Keppel Infrastructure divests facilities management arm Progress in the Philippines 13 Steady progress 14 Breaking the ice Strong industry presence 15 Port personality Steel going strong 16 Information on the go Special FOCUS Configured for growth 17 A merry gathering 24 Spurring Innovations Superior semi accommodation 26 On the Mark 27 A SPECIAL TRIBUTE In memory of Teo Soon Hoe 28 EMPOWERING LIVES Keppelites Around the World Scaling heights 32 A leg up to good health 33 Bayside bonding New year, new beginnings 34 NURTURING COMMUNITIES Festive cheer 36 Keen and green advocacy Learning and loving the arts 37 Sight to behold 38 Warm companionship Keppel Volunteers Touching lives 39 BACK PAGE Top of the league 40 Cover image: (From L-R) Celebrating the successful listing of Keppel DC REIT on 12 December 2014 are Mr Chua Hsien Yang, CEO of Keppel DC REIT Management; Ms Jacqueline Poh, MD of Infocomm Development Authority of Singapore; Mr Magnus Bocker, CEO of Singapore Exchange; Mr Chan Hon Chew, Deputy Chairman of Keppel Telecommunications & Transportation (Keppel T&T) and CFO of Keppel Corporation; Mr Loh Chin Hua, Chairman of Keppel T&T and CEO of Keppel Corporation; and Mr Thomas Pang, CEO of Keppel T&T. Published for people in the Keppel Group by the Group Corporate Communications Division, Keppel Corporation Limited, 1 HarbourFront Ave, #18-01 Keppel Bay Tower, Singapore Printed by Image Printers Pte Ltd, Blk 1002, Redhill Industrial Estate, Jalan Bukit Merah, #03-12, Singapore Editorial Advisor Wang Look Fung Editor Kevin Ho Editorial Committee Ang Lai Lee, Brian Higgs, Candice Low, Carol Huang, Cheryl Goh, Chew Chong Peng, Donald Sng, Eileen Tan, Elizabeth Widjaja, Eva Ho, Frances Teh, Grace Chia, Hayley Teo, Hoo Yao Lin, Ivana Chua, Jayne Yeo, Lee Chin Siang, Lee Wan Jun, Liang Hui Hui, Maria Kozhanova, Mia Liu, Priscilla Chong, Razali Maulod, Roy Tan, Sam Neo, Say Huan Yuan, Serena Toh, Sue Ann Huang, Teri Liew, Tracy Pham, Woon Pek Yong, Yolanda Guo, Yu Zehan CO REG NO: N

3 Editorial Tough man, bold vision What a journey! This was how Soon Hoe summed up his 40 years at Keppel at his retirement six months ago. It was indeed a terrific and marvelous journey, one where many of us have been privileged to ride alongside with him. Keppel mourns the loss of a son. He was a trusted leader and loyal friend, one who had always put the Company first before self, the very reason why he had never sold off a single Keppel share, the very reason why he had his family late in life, and the very reason why he drove hard bargains at negotiating tables sometimes even to unfair and unwarranted criticisms in the marketplace. The steel in this man is simply amazing. Coming from a humble home, being frugal was second nature to Soon Hoe. He would never overpay for any purchases, nor sell off anything for a fraction less. Yes, we remember how widely he smiled after the disposals of Keppel TatLee Bank and Singapore Petroleum Company, but to me, the quiet contentment in his eyes says it all. Soon Hoe s work ethos was exemplary. We will recall how he dug his heels in against the incessant calls for a five day week at Keppel Corp. Red-eyed flights were the norm for him as he believed in packing it to the hilt. This hard-nosed entrepreneur left indelible marks on everything he laid hands on with meticulous attention to details, leaving no stone unturned, oftentimes literally when he walked the grounds. Keppelites in their grief will find inspiration in the strength of this man. Some may look at Soon Hoe s passing as the beginning of an end of an era. But I think not. It must and will be the birth of a brave new world for Keppel.

4 4 Sustaining Growth 4 Sustaining Growth Strong debut for first data centre REIT in Asia (Front row from left) Mr Chua Hsien Yang, CEO of Keppel DC REIT Management; Ms Jacqueline Poh, MD of Infocomm Development Authority of Singapore; Mr Magnus Böcker, CEO of Singapore Exchange; Ms Chan Shui Har, CFO of Keppel T&T; Mr Chan Hon Chew, Deputy Chairman of Keppel DC REIT and CFO of Keppel Corporation; Mr Loh Chin Hua, Chairman of Keppel T&T and CEO of Keppel Corporation; and Mr Thomas Pang, CEO of Keppel T&T with the Keppel DC REIT team at the listing ceremony on 12 December 2014 The Keppel Group marked a milestone on 12 December 2014 with the successful listing of Keppel DC REIT, the first ever data centre real estate investment trust (REIT) to be listed in Asia and in Singapore on the Mainboard of the Singapore Exchange. It was also the largest REIT Initial Public Offering (IPO) on the Singapore Exchange for the year-to-date with $512.9 million raised. The units of Keppel DC REIT debuted strongly upon commencement of trading, opening at $0.98 each, 5.4% above Keppel DC REIT s IPO price of $0.93 per unit. Trading continued to be robust throughout the trading day, with 105 million units exchanging hands and reaching an intra-day high of $ Keppel DC REIT s IPO was approximately 9.6 times subscribed while institutional investors indications of interest for the placement tranche amounted to $4.7 billion, representing 24.4 times subscription. Concurrently but separate from the offering, Keppel DC REIT also secured $270 million worth of commitment from nine cornerstone investors. Speaking at the listing ceremony, Guest of Honour Ms Jacqueline Poh, Managing Director of Infocomm Development Authority of Singapore, congratulated Keppel DC REIT on its successful listing and noted the pivotal role that data centres play in the digital economy. Data centres are the backbone of the digital economy and play an important role in enabling activities such as cloud computing and analytics. As an established, homegrown data centre player in Singapore, Keppel has indeed contributed to the data centre industry here, she said. Mr Chua Hsien Yang, CEO of Keppel DC REIT Management, said, We would like to thank our Unitholders for their support towards Keppel DC REIT. The strong trading performance on its first trading day signals confidence in the growth potential of the REIT. With Keppel Telecommunications & Transportation (Keppel T&T) as a committed Sponsor providing a visible acquisition pipeline, Keppel DC REIT is poised to capitalise on and benefit from the growth in

5 Sustaining Growth 5 demand for data centres within key data centre hubs in Asia-Pacific and Europe. Unique opportunity As the first data centre REIT listed in Asia, Keppel DC REIT will provide investors with an opportunity to gain exposure to the data centre asset class via the IPO Portfolio. The data centre industry is backed by strong fundamental growth drivers such as a rise in data creation and storage needs, the growing adoption of cloud computing, increasing compliance and regulatory requirements on data security, and increasing outsourcing of data centre requirements. The data centres in Keppel DC REIT s portfolio have been designed and built to attract well-established customers. As of 30 September 2014, the data centres in its portfolio enjoy a high occupancy rate of 93.5% and a high customer retention rate of 97.8% from a diverse customer base that includes Fortune 500 and S&P 100 companies, governmentrelated entities, MNCs and financial institutions. Moreover, the REIT benefits from a balanced lease profile comprising co-location arrangements as well as double-net and triple-net leases, providing for both stability and opportunities for rental reversions. keppelite Keppel DC REIT s portfolio consists of the following properties: Location Singapore Sydney, Australia Brisbane, Australia Cyberjaya, Malaysia London, the United Kingdom Amsterdam, the Netherlands Dublin, Ireland Data Centre Asset T25 S25 Gore Hill Data Centre iseek Data Centre Basis Bay Data Centre GV7 Data Centre Almere Data Centre Citadel 100 Data Centre Leading growth Mr Chua Hsien Yang With more than 13 years of experience in mergers and acquisitions, real estate investments, fund management, business development and asset management in the Asia-Pacific real estate sector, Mr Chua Hsien Yang has been appointed CEO of Keppel DC REIT Management. As CEO, Mr Chua will drive the growth of Keppel DC REIT and lead its efforts to capitalise on new opportunities in the data centre industry. Keppel DC REIT s portfolio comprises eight high-quality data centre properties in seven key data centre hubs across Asia-Pacific and Europe with a visible acquisition pipeline through right-of-first-refusals from the sponsor, Keppel T&T Mr Chua joined the Keppel Group in 2008 with Keppel REIT Management Limited, the manager of Keppel REIT, where he last held the position of Senior Vice President (Investment). Over the span of six years in Keppel REIT Management Limited, he led the completion of transactions worth approximately $7 billion in total.

6 6 Sustaining Growth Star delivery Keppel FELS has delivered a third KFELS B Class jackup drilling rig to Star Drilling Pte. Ltd., an associate company of India s D P Jindal Group (Jindal). The rig was named Jindal Explorer at a ceremony in the yard on 2 December 2014 and has been delivered on time, on budget and with a perfect safety record. Mr Wong Kok Seng, MD (Offshore) of Keppel O&M and MD, Keppel FELS, said, We are pleased to deliver a third KFELS B Class jackup rig to Jindal and support their growth as the leading drilling operator in India. This accomplishment is a result of our proven project management and execution capabilities as well as our excellent teamwork with Jindal. This is also our 11th rig for Indian customers, all of which are built to our proprietary KFELS B Class design. We understand the needs of our customers and have customised this design to meet Jindal s requirements for robust jackups able to work in offshore India. Jindal Explorer is purposebuilt to meet the unique requirements of offshore India s harsh environment, bearing pressure and rig geometry. Capable of operating in water depths of 350 feet and drilling down to 30,000 feet, this design also incorporates Keppel s advanced and fullyautomated high capacity rack and pinion elevating system, and self-positioning fixation system. Mr Raghav Jindal, Director of D P Jindal Group, said, We are glad to add Jindal Explorer to our fleet of high specification jackup rigs. It is tailored to meet the stringent needs of our customers and I am confident that it will be successful wherever it is deployed. The KFELS B Class is a proven design for us with our two jackup rigs DISCOVERY I and VIRTUE I operating successfully without any downtime in offshore India for Oil & Natural Gas Corporation (ONGC). Keppel FELS has been a reliable partner for us in ensuring our rigs are cost-efficient and delivered on time to the highest quality and standards. According to the Oil & Gas Journal, India has nearly 5.7 billion barrels of proven oil reserves at the beginning of 2014, of which 56% are offshore. Production declines in some of the mature oil fields and the Indian government s push to reduce its dependence on oil imports presents tremendous opportunities for exploration and production activities. keppelite The management of Keppel O&M and Jindal celebrate the successful delivery of the Jindal Explorer, the third jackup rig Keppel O&M has delivered for Jindal

7 Sustaining Growth 7 Keppel Land to acquire 75% stake in retail management company Keppel Land has agreed to enter into a joint venture with Array Holdings Private Limited, incorporated in Hong Kong, through the acquisition of a 75% stake in Array Real Estate Pte Ltd (Array). The remaining 25% stake will continue to be held by Array Holdings Private Limited. Array has a strong track record in the development, management, marketing and leasing of retail malls. Their clients include property owners and property funds in Singapore and the region. Its experienced team, which will continue to be led by CEO Mr Michael Leong, has played key roles in the development and mall management of approximately three million sf of retail space over the years. These include Jurong Point Shopping Centre, Heartland Mall, Century Square, Tampines One, Hougang Mall, Tiong Bahru Plaza, White Sands, and Liang Court in Singapore, and Taimall in Taiwan. Collectively, this would be one of the largest retail portfolios in Singapore. Mr Ang Wee Gee, CEO of Keppel Land, said, This partnership will strengthen Keppel Land s commercial expertise. The company will also leverage Array s experience and network to capture opportunities in retail and mixed-use projects both locally and abroad. The transaction is expected to be completed in January keppelite Strengthened portfolio Keppel REIT successfully completed the acquisition of a one-third interest in Marina Bay Financial Centre (MBFC) Tower 3 on 16 December This The addition of MBFC Tower 3 reinforces Keppel REIT s position as the leading landlord of premium Grade A office buildings in Singapore s business and financial district follows the conclusion of the Extraordinary General Meeting held on 24 November 2014 which saw Keppel REIT receiving overwhelming approval and support from Unitholders for all three resolutions relating to the proposed acquisition. Located in the heart of Marina Bay, the 46-storey MBFC Tower 3 comprises over 1.34 million sf of net lettable area and is occupied by diverse tenants including DBS Bank, WongPartnership, Rio Tinto, McGraw-Hill and Lego. The addition of MBFC Tower 3 strengthens Keppel REIT s position as the leading landlord of premium Grade A office buildings in Singapore s business and financial district. Following this acquisition, the overall portfolio age has improved to approximately five years, positioning Keppel REIT as the REIT with the youngest portfolio of premium grade office buildings in prime central business district locations in Singapore. Post-acquisition, Keppel REIT s portfolio consists of interests in nine premium office assets with 12 office towers. keppelite

8 8 Sustaining Growth New lease of life Celebrating the successful completion of the FPSO Bertam project are (L-R) Mr Chor How Jat, MD of Keppel Shipyard, Mr Michael Chia, MD (Marine) of Keppel O&M, Mr Adif Zulkifli, VP, Malaysia Petroleum Management, Petronas, Mr Chris Bruijnzeels, Senior VP Development, Lundin, and Mr Nasir Abdullah, Head of Liaison Office, Petronas Carigali On 4 December 2014, Keppel Shipyard celebrated the naming of the Floating Production Storage and Offloading (FPSO) vessel Bertam with Lundin Petroleum, Petronas and its exploration & production subsidiary, Petronas Carigali. Originally named Idkam, the 43-year-old FPSO vessel was given a new lease of life after undergoing refurbishment and upgrading works at Keppel Shipyard, which were completed with a record of more than 2.5 million safe man-hours without lost-time incident. After sailing away from Keppel Shipyard, FPSO Bertam will be deployed in the Bertam Field in offshore Malaysia to support the operations of Lundin and Petronas Carigali. FPSO Bertam is the 14th project that Keppel has completed for Petronas and Petronas Carigali. keppelite Joint venture in Yangon On 2 December 2014, Keppel Land entered into a conditional joint venture agreement with the ShweTaung Group (STG), a reputable Myanmar construction group, to develop a 23-storey Grade A office tower in Yangon s central business district (CBD), subject to approval from the Myanmar Investment Commission. Keppel Land s total investment in the project will be US$47.4 million (approximately S$61.6 million). Keppel Land will hold a 40% stake in the office tower, which is part of Junction City, a mixed-use development comprising the five-star Pan Pacific Hotel, a shopping centre, residential towers, as well as Yangon s largest car parking facility of over 1,400 car park lots. When completed, the office tower will offer a net leasable area of about 33,400 sm of premium Grade A office space, meeting demand for much-needed high quality office space in Yangon. Construction has commenced and is expected to be completed in The new office development is strategically located some 19 kilometres south of the Yangon International Airport and eight kilometres from Keppel Land s Sedona Hotel Yangon. keppelite The new office development will add to Keppel Land s portfolio of properties in Myanmar which includes Sedona Hotel Yangon (pictured), whose new tower block is expected to be completed in 2016

9 Sustaining Growth 9 Proven performance, perfect safety record Seafox 5 has completed over a hundred jacking cycles in a year equivalent to what a typical drilling rig does over a 20-year span while maintaining a perfect safety record. Seafox 5, a multi-purpose self-elevating platform (MPSEP) based on Keppel FELS proprietary design and jacking system, has achieved zero lost time incidents since commencing operations two years ago, a testament to the safe operations of its rig and crew and its robust build quality. The rig s first job was as an offshore wind turbine installer, installing 80 monopole foundations for Vattenfall at the 288MW DanTysk project in offshore Germany. The versatility of the rig subsequently enabled it to work for Maersk Oil, providing offshore accommodation, well services and lifting support in the Tyra field in offshore Denmark. As an offshore wind turbine installer, Seafox 5 is equipped with a 1200 tonne crane onboard, which has enabled it to complete the fastest installation with the biggest monopiles in the world installing a single monopole within 19 hours, with four installations completed in a week. Over the course of installing 80 monopiles in one year, Seafox 5 completed 106 jacking cycles up and down, the equivalent of 6000 metres of jacking. Mr Rainier Verhulst, Operations Director of Seafox 5, said, 106 jacking cycles up and down is equivalent to what a normal drilling rig does in a 20-year lifespan. The achievement of this feat during a single project within the short time span of one year and with almost zero down time rating to boot proves the robustness of the design and equipment built by Keppel. Still going strong The proprietary jacking system used by Seafox 5 was developed by Keppel FELS research and development arm, Offshore Technology Development (OTD) in The jacking system consists of multiple jacking units working in tandem. It is capable of lifting a load of up to 70,200 kips, making it suitable for elevating decks of the world s largest jackups. Used across Keppel s suite of proprietary-designed jackup rigs, it has a proven Seafox 5 jacked up 106 times in the installation of monopiles for the DanTysk wind farm in offshore Germany track record of extensive operational deployments in harsh environments across the globe such as the Australian and Canadian waters, Gulf of Mexico, North Sea and Southeast Asia. There are about 2,200 of these jacking systems currently in operation on more than 50 jackup rigs. Recounting the initial development stages, Dr Foo Kok Seng, ED of OTD, said, We carried out a full scale life-cycle load test and satisfied the ABS and DNV requirements. In our trials, we tried our best to damage the jacking system but it withstood the tests. Up till today, the jacking systems continue to hold a clean record. keppelite

10 10 Sustaining Growth Sustainability benchmark Driven by a firm commitment to continuously strengthen its environmental, social and governance management and strategy, Keppel Corporation s sustainability efforts have been affirmed by its inclusion on the Euronext Vigeo World 120 index released 28 November The company is listed among the top 120 companies in Europe, North America and Asia Pacific for control of corporate responsibility risk and contribution to sustainable development. This is the second time that Keppel Corporation has been included on the index developed by Euronext, the primary exchange in the Eurozone, and Vigeo, a leading European expert in responsible performance. Index component companies were selected from over 2,500 companies with the largest market capitalisations across 39 sectors globally. We are pleased to be included on these sustainability indices alongside established global companies leading the field in terms of sustainability. It affirms and encourages the commitment and efforts of our staff to uphold the highest quality, environmental, social, ethical and governance standards. For us, sustainability is a journey and we recognise that there are always opportunities to improve. With operations in over 30 countries worldwide, Keppel is committed to be a responsible corporate citizen that positively impacts the communities where we operate, said Mr Loh Chin Hua, CEO of Keppel Corporation. Keppel Corporation was comprehensively assessed by Vigeo across six key domains of responsible performance: environment, business behavior, human rights, governance, human resources and community involvement. To ensure accuracy and relevance, Vigeo reviews and updates the index twice a year. keppelite There were double distinctions for Keppel Data Centres in 2014 as KDH2 bagged two prestigious environmental certifications for its energy efficient features Environmental excellence Keppel Datahub 2 (KDH2) was awarded the LEED Gold Certification by the U.S. Green Building Council (USGBC) on 24 November 2014, in recognition of the data centre s environmentally friendly design, operations and management. The LEED certification is an internationally recognised benchmark in sustainable building and design developed by the USGBC. It is awarded to companies that demonstrate environmental excellence and leadership in transforming the building industry. Earlier this year, KDH2 also achieved the distinction of being the first new data centre in Singapore to clinch the BCA-IDA Green Mark Platinum Award from the Building and Construction Authority of Singapore and Infocomm Development Authority of Singapore. keppelite

11 Sustaining Growth 11 Green stewardship In recognition of its commitment towards environmental stewardship and corporate social responsibility, Keppel Land garnered several awards in recent months. SUSTAINABLE BUSINESS AWARDS Keppel Land was named Winner in the Energy Management category at the Sustainable Business Awards 2014, which is organised by Global Initiatives and developed in collaboration with PricewaterhouseCoopers. Global Initiatives is a Singapore firm that promotes partnership solutions to global challenges through film, international events and media projects. The Awards aims to increase awareness of sustainable business bestpractices and demonstrate how sustainable business benefits companies, the environment and all stakeholders in the short and long run. In consideration for the award, Keppel Land was evaluated using a comprehensive framework that assessed sustainability at the core of its business. Ms Serena Toh, GM of Investor Relations and Corporate Social Responsibility of Keppel Land, received the award on behalf of the company from Mr Tony Gourlay, CEO of Global Initiatives, at the ceremony held on 24 November 2014 at Marina Bay Sands. MIPIM ASIA AWARDS At the 8 th MIPIM Asia Awards 2014, Ocean Financial Centre bagged the Gold award for Best Innovative Green Building. Mr Tan Swee Yiow, President (Singapore) of Keppel Land, received the award on behalf of the company during the awards ceremony held in Hong Kong on 2 December Innovation has always been ingrained in Keppel Land s culture, spurring our people on to develop new and sustainable solutions to challenges posed by rapid urbanisation across the globe. We are very privileged to have been able to develop some of Singapore s most iconic developments Ocean Financial Centre being one of them, said Mr Tan. Recognitions such as this latest award encourage us in our pursuit of excellence and to continue to develop benchmark developments of enduring value to the community wherever we stamp the Keppel hallmark. The prestigious MIPIM Asia Awards recognise excellence and innovation in Asian real estate development. Winners are selected by a distinguished jury of prominent real estate industry leaders. keppelite Mr Tan Swee Yiow (right), President (Singapore) of Keppel Land, received the Gold Award for Best Innovative Green Building on behalf of Keppel Land at the 8 th MIPIM Asia Awards 2014

12 12 Sustaining Growth Belgian honour Dr Lee Boon Yang, Chairman of Keppel Corporation, has been conferred the title of Commander of the Order of the Crown by the Kingdom of Belgium in recognition Dr Lee Boon Yang (centre), Chairman of Keppel Corporation, was bestowed the decoration of Commander of the Order of the Crown by Her Royal Highness Princess Astrid of Belgium (left), with His Excellency Didier Reynders (right), Federal Deputy Prime Minister and Minister of Foreign Affairs and European Affairs, tying the ribbon as part of the ceremony of his contributions to economic cooperation and trade between Singapore and Belgium. The decoration was bestowed by Her Royal Highness Princess Astrid, on behalf of His Majesty King Philippe of Belgium, during a ceremony at Shangri-La hotel, Singapore on 27 November This award is a culmination of the close and fruitful ties that Keppel Corporation has forged with Belgium over the past 12 years. The synergy within Keppel Seghers, founded in Belgium and now linked to Singapore, has delivered value and benefitted many around the world, said Dr Lee. The ceremony was held in conjunction with the Belgium Economic Mission to Singapore, during which Dr Ong Tiong Guan, CEO of Keppel Infrastructure, hosted His Excellency Geert Bourgeois, Minister- President of Flanders, to a visit to Keppel Corporation. Keppel Seghers and waste management firm ISVAG also signed a Memorandum of Understanding on joint research and exchange of information, knowledge and experience in WTE. keppelite Keppel Infrastructure divests facilities management arm Keppel Infrastructure (KI), through its wholly-owned subsidiary, signed an agreement on 28 November 2014 for the sale of its entire stake in Keppel FMO (KFMO) to Cofely GDF SUEZ for a cash consideration of $44.72 million, subject to a post-closing adjustment for working capital and a deferred consideration amount of up to $9.72 million (to be paid if certain targets are achieved by KFMO). KFMO provides integrated facilities management services for clients across various industries and business segments in the public and private sectors. The purchaser, Cofely South East Asia Pte. Ltd., is a subsidiary of the GDF SUEZ Group. Cofely GDF SUEZ is one of Europe s leading facilities managers, involved in the design, implementation and delivery of integrated facilities management solutions. Ms Cindy Lim, GM (Infrastructure Services) of Keppel Infrastructure, said, We are proud to have grown KFMO since the 1980s into one of Singapore s leading facilities management companies. We believe that with Cofely GDF SUEZ s global facilities management know-how, KFMO and its employees can achieve the next level of growth. Mr Yeo Kong Nee, GM of KFMO, said, Our focus during this transition period is our customers, and we will ensure that operations and service delivery remain seamless. keppelite

13 Sustaining Growth 13 Progress in the Philippines Presidential dialogue During his state visit to Singapore, President of the Philippines Mr Benigno S. Aquino III met over 20 Singapore business leaders at a roundtable session on 19 November 2014 to encourage further investments by Singapore businesses in the Philippines. Keppel Group, with its shipyard and property presence in the Philippines, participated in the roundtable meeting and was represented by Mr Michael Chia, MD (Marine and Technology), Keppel Offshore & Marine, and Mr Ang Wee Gee, CEO, Keppel Land. Keppel Subic Shipyard is making good progress on the first complete offshore platform constructed in the Philippines Mr Ang Wee Gee (extreme left), CEO of Keppel Land, and Mr Michael Chia (extreme right), MD (Marine and Technology), Keppel O&M, participated in a roundtable meeting with Mr Benigno S. Aquino III (fourth from right) during his state visit to Singapore On track for completion Work on a Depletion Compression Platform (DCP), the first complete offshore platform to be constructed in the Philippines, is progressing well at Keppel Subic Shipyard, in the Central Luzon region of the Philippines. This DCP for Shell Philippines Exploration BV (SPEX) comprises gas compression facilities mounted on a barge deck, supported by four tubular legs on base footings. Keppel Subic Shipyard is responsible for the fabrication of the entire DCP, including the integration of topside modules and fabrication of a link bridge that connects to a shallow water platform. The project struck steel two years ago, and is presently on track for delivery in 1Q In November this year, more than eight million safe man-hours without lost time incidents were recorded on this project. When completed, the DCP will be deployed in the Malampaya gas field, off the coast of Palawan Island in the Philippines, next to the existing Shallow Water Platform. The DCP is designed to maintain the current availability and deliverability of natural gas from the Malampaya field by regulating the gas export pressure and flow rates. Mr Leong Kok Weng, President of Keppel Subic Shipyard, said, We are grateful to the Philippine government, SPEX and our other partners for their encouragement and support of this milestone project. We will continue to focus on safe and timely execution, and work towards a successful delivery. keppelite

14 14 Sustaining Growth Steady progress BrasFELS, Keppel Offshore & Marine s (Keppel O&M) shipyard in Angra dos Reis, Rio de Janeiro, Brazil, continues to make steady progress on all its projects. (Left photo) The lower hull of the second DSS 38E semisubmersible drilling rig which Keppel O&M is undertaking for Sete Brasil arrived at BrasFELS from Singapore on 19 November It will be integrated with upper hull structures and topsides modules that are under construction at BrasFELS. Meanwhile, commissioning works are underway for the first DSS 38E unit which is expected to be delivered in 4Q 2015 (Right photo) Petrobras Floating Production Storage and Offloading (FPSO) unit, P-66, arrived at BrasFELS in mid-december The FPSO is at the yard for the installation and integration of topsides modules fabricated by BrasFELS. BrasFELS has also been engaged to perform a similar workscope for FPSO P-69. When completed, P-66 and P-69 will be deployed in Brazil s Guara field and Tupi field respectively Breaking the ice Keppel Offshore & Marine (Keppel O&M) warmly welcomed an Arctic delegation for a study visit on 19 November Keppel shared insights on the Group s pioneering expertise in offshore and marine technology and its construction of Asia s first icebreaker vessel for operations in the Arctic waters. members of the Indigenous Peoples Secretariat. The study visit enabled Singapore, a Permanent Observer on the Arctic Council, to engage the leaders of the Arctic indigenous community, who have full consultative status in the Council. During the yard visit, Keppel O&M showcased Singapore s contributions to the development of the Arctic States. Keppel O&M and ConocoPhillips have also previously jointly designed a first-of-its-kind ice-worthy jackup rig to operate in the Arctic Seas. keppelite The Arctic delegation comprised Permanent Participants of the Arctic Council, an intergovernmental forum that addresses environmental protection and sustainable development issues in the Arctic region, as well as Mr Michael Chia (centre, in white shirt), MD (Marine & Technology) of Keppel O&M and Keppel Offshore & Marine Technology Centre (KOMtech), and Dr Foo Kok Seng (third from left), ED (Shallow Water Technology) of KOMtech and Offshore Technology Development, hosted a delegation comprising Permanent Participants of the Arctic Council and members of the Indigenous Peoples Secretariat

15 Sustaining Growth 15 Strong industry presence Showcasing its projects and capabilities, Keppel Offshore & Marine (Keppel O&M) participated in the 20th Offshore South East Asia (OSEA) exhibition and conference with a booth presence. Held from 2 to 5 December 2014, the biennial OSEA is Asia s largest oil and gas event, gathering over 28,000 industry experts and professionals to discuss strategic, operational and technological developments. OSEA Guest of Honour Mr S Iswaran, Minister, Prime Minister s Office, Second Minister for Home Affairs and Second Minister for (From L-R) Mr Toh Ko Lin, ED, Keppel Singmarine, Mr Abu Bakar Bin Mohd Nor, MD of Keppel Singmarine; Mr Wong Kok Seng, MD (Offshore) of Keppel O&M and MD, Keppel FELS; Mr Chow Yew Yuen, CEO of Keppel O&M; Minister S Iswaran, Minister, Prime Minister s Office, Second Minister for Home Affairs and Second Minister for Trade & Industry; Mr Michael Chia, MD (Marine & Technology) of Keppel O&M; and Mr Chor How Jat, MD of Keppel Shipyard at Keppel O&M s booth at OSEA 2014 Trade & Industry, visited Keppel O&M s booth to learn about its latest projects and proprietary designs. In his OSEA opening speech, Minister Iswaran expressed optimism for the oil and gas industry in the longterm despite short-term uncertainty, while also noting the importance of R&D collaborations. The corporate lab jointly established by NUS and Keppel allows Keppel to better access upstream research capabilities at NUS, and commercialise technologies into products and solutions, he said. keppelite Port personality Mr Harold Linssen, MD of Keppel Verolme, has been unanimously awarded the prestigious Port Personality of the Year 2014 by Rotterdam-based foundation, Port Personality of the Year. Mr Linssen is the first recipient from the shipbuilding, ship refit, ship Mr Harold Linssen, MD of Keppel Verolme, is the first recipient from the shipbuilding, ship refit, ship repair and maintenance industry to be awarded the Port Personality of the Year repair and maintenance industry to receive this title. Keppel Verolme s strong reputation in maintenance, modification and conversion of deep sea vessels and offshore units was a major contributing factor to Mr Linssen earning the much coveted title. Earlier in 2014, the world s largest and most innovative cruise ship, Oasis of the Seas, was given a new lease of life by Keppel Verolme, which completed the ship s maintenance and refurbishment works in October, casting the limelight on the importance of the maritime industry to Rotterdam. Mr Linssen is the 34th port entrepreneur to receive the distinction, which was established in 1981 by the Harbour Press Club Kyoto which was then based in Rotterdam. He will officially receive the title on 12 January 2015, as tradition entails that the distinction be handed over on the second Monday in January. keppelite

16 16 Sustaining Growth Information on the go Together with representatives from Mitsui and Nippon Steel, Mr Loh Chin Hua (third from left), Chairman of Keppel O&M and CEO of Keppel Corporation, and Mr Chow Yew Yuen (second from left), CEO of Keppel O&M, took part in a Kagami Biraki ceremony, hitting the drum with a hammer to represent happiness and peacefulness, expressing Regency Steel Japan s deep appreciation to its guests at its 10th anniversary celebration Steel going strong The average person spends more time browsing the Internet on mobile devices such as smartphones and tablets than they do on desktop computers, according to research by Nielsen. Recognising the need to provide its stakeholders with easy web navigation and quicker access to information on the go, Keppel REIT launched the mobile interface of its website in December Users can look forward to up-to-date financial information, news, media releases and presentations that are specially optimised for viewing on their mobile devices. In line with the Keppel Group s efforts to stay abreast of technological trends, Keppel Telecommunications & Transportation also rolled out its mobile platform earlier this year in July. keppelite One of the hallmarks of Keppel FELS renowned jackup rigs is its strong rack and chord system. Since 2004, these racks and chords have been fabricated at Regency Steel Japan (RSJ), a joint venture fabrication facility in Japan between Keppel FELS, Mitsui and Nippon Steel. On 27 November 2014, RSJ celebrated 10 years of growth and partnership with senior management of Keppel Offshore & Marine (Keppel O&M), Mitsui and Nippon Steel. Mr Chow Yew Yuen, CEO of Keppel O&M, said, Having control over the supply of high-grade steel removes potential bottlenecks in the construction of jackup rigs and enables us to stay ahead of our competitors. When Keppel FELS delivered a world record 21 rigs in 2013, the support from RSJ was vital to us delivering high quality rigs on time. When RSJ was formed, it had orders for just 3 units of racks and chords and sales of 5 billion yen. In contrast, it now has sales in excess of 15 billion yen and has produced 75 sets of racks and chords with a total fabricated tonnage of about 148,780 metric tonnes for Keppel FELS rigs. keppelite Keppel REIT rolled out its mobile website to provide stakeholders with quick access to information on the go

17 Special Focus 17 Configured for growth For Keppel, 2014 was a year of many firsts, including the delivery of the world s largest jackup rig and the listing of Asia s first data centre REIT. As Keppel continues to be configured to capture strategic opportunities in 2015 and beyond, Keppelite looks back at milestones achieved during the year. KEPPEL CORPORATION January Mr Loh Chin Hua was appointed CEO of Keppel Corporation and an Executive Director to the Board on 1 January February Mr Chan Hon Chew was appointed CFO of Keppel Corporation on 1 February another five cycles of the biennial award from 2020 to The Sino-Singapore Tianjin Eco-City was selected as a National Green Building Base by the China Green Building Council at the seventh Plenary Committee Meeting of the China Green Building Council. April Keppel Corporation was voted the company with the Best Managed Board and Best Investor Relations in Singapore in FinanceAsia s annual poll. The company also came in second position in the Best Corporate Governance, Best Corporate Social Responsibility and Most Committed to a Strong Dividend Policy categories. Keppel Corporation was ranked the most attractive employer in Singapore in the Engineering Sector Services category at the Randstad Awards May Keppel Corporation hosted the 77th ASEAN Council on Petroleum (ASCOPE) National Committee & Associated Meetings, a platform for strengthening synergy and fostering cooperation in the Southeast Asian petroleum sector. July Committed to upholding transparency and accountability, Keppel Corporation s Board of Directors was conferred the Silver Award for Best Managed Board among Singapore-listed companies with a market capitalisation of $1 billion and above at the Singapore Corporate Awards. Keppel Corporation was named a Distinguished Patron of the Arts by the National Arts Council for the seventh consecutive year, in recognition of its sustained contributions to nurture the arts in Singapore. Continues on page Keppel Corporation launched its ios and Android compatible mobile website to enhance on-the-go access to company information, which was further augmented by mobile results webcast and Question and Answer functions. March Keppel Corporation extended its sole sponsorship of the Lee Kuan Yew World City Prize with a further commitment of $1.75 million, bringing its total commitment to $3.5 million. The contribution supports (Left to right) Mr Loh Chin Hua, CEO and Board Director of Keppel Corporation, together with Board Directors of Keppel Corporation, Mr Tony Chew and Mr Alvin Yeo, at the Singapore Corporate Awards

18 18 Special Focus...continued from page 17. November Keppel Corporation was included on the Euronext Vigeo World 120 index which recognises the top 120 companies in Europe, North Amercia and Asia Pacific for control of corporate responsibility risk and contribution to sustainable development (see page10). OFFSHORE & MARINE Prime Minister Lee Hsien Loong (centre in green) sharing a light moment with Keppelites and senior management. In his rally speech, Keppel was cited as a model for organisations and society to emulate in moving from an over-emphasis on academic qualifications to recognising the different pathways to success The Keppel Group garnered 39 Workplace Safety and Health Awards, topping last year s record of 32 awards and affirming its continued emphasis on safety. Ocean Mineral Singapore received approval from the International Seabed Authority for its first seabed exploration licence. August Keppel Corporation clinched the top spot in the Governance & Transparency Index 2014 as the Best Governed and Most Transparent Listed Company in Singapore. Singapore s Prime Minister Lee Hsien Loong, addressing the nation during his National Day Rally speech, lauded Keppel for its belief in its people and providing many opportunities and support for Keppelites to grow and succeed, regardless of where they start when they join the company. September Mr Robert Chong was appointed Director of Group Human Resources, Keppel Corporation, on 1 September Keppel Corporation was selected as an index component of the Dow Jones Sustainability Asia Pacific Index for the second consecutive year, the only industrial conglomerate and one of four Singapore companies to be included. The company was also included as a constituent of the MSCI Global Sustainability Index, which comprises companies with high environmental, social and governance ratings relative to their sector peers. Keppel Corporation received the Strongest Adherence to Corporate Governance accolade at the Southeast Asia Institutional Investor Corporate Awards. October In recognition of its sustainability efforts, Keppel Corporation was awarded the Sustainable Business Award at the Singapore Sustainability Awards. Keppel Corporation won the Singapore Corporate Governance Award (Big Cap) at the Securities Investors Association of Singapore (SIAS) Investors Choice Awards. Keppel Care Foundation received a Corporate Gold Award at the Community Chest Awards. The Sino-Singapore Tianjin Eco-City s National Green Development Demonstration Zone Implementation Plan received approval from China s State Council. February Mr Chow Yew Yuen was appointed CEO of Keppel O&M on 1 February Keppel FELS secured a contract from a whollyowned subsidiary of UMW Oil & Gas Corporation for a KFELS B Class jackup rig worth US$218 million. Keppel FELS also secured contracts to build three high-specification KFELS B Class jackup rigs worth about US$650 million from new customer Fecon International Corp. The three rigs are scheduled to be delivered progressively in 2H March Keppel FELS secured a contract from TS Offshore to construct an ultra-high specification jackup rig worth about US$500 million. Scheduled for delivery in 1Q 2017, it will be the first jackup built to Keppel s new proprietary KFELS N Plus design. Keppel Shipyard, Keppel Singmarine and Keppel Nantong secured contracts

19 19 worth a total of about $140 million. Keppel Shipyard will undertake, for SOFEC Inc., the fabrication of an external turret mooring system for a Floating Production Storage and Offloading (FPSO) vessel that will operate in the Tweneboa-Enyenra- Ntomme fields in Ghana, in water depths averaging 1,500 metres. Keppel Singmarine secured three contracts from a subsidiary of Bumi Armada to build two ice-class supply vessels and an ice-class multi-purpose duty-rescue vessel. Keppel Nantong secured an order from KSP Towage for the construction of two tugs scheduled for delivery in 3Q The tugs will be chartered for deployment in Malaysia. April Keppel O&M, through its wholly owned subsidiary Keppel FELS, signed a conditional management services agreement with Titan Petrochemicals Group Limited and Titan Quanzhou Shipyard Co. Ltd (TQS) to manage the TQS shipyard. Located in Quanzhou in Fujian Province, TQS is one of the largest shipyards in China, occupying a total area of 110 hectares along 3,600 metres of coastline. Baku Shipyard secured a contract worth US$378 million from Keppel Shipyard s contract with Golar Hilli Corporation to perform the world s first-of-its-type conversion of an existing Moss LNG carrier, the HILLI, into a Floating Liquefaction Vessel became effective in July 2014 BP Exploration (Shah Deniz) Ltd, the operator of the Shah Deniz gas field development, to design and build a Subsea Construction Vessel (SCV). When completed, the SCV will be deployed for the Stage 2 development of the Shah Deniz field, some 70 kilometres offshore in the Azerbaijan sector of the Caspian Sea. Keppel FELS signed an engineering services agreement with Workfox B.V, a subsidiary of the Seafox Group, to embark on an engineering study of a purpose-built accommodation jackup rig with well intervention and Plug & Abandonment (P&A) features. Named Seafox 8, the project is developed to address a gap in the current P&A market. July Keppel Shipyard and Keppel Singmarine secured contracts worth a total of $368 million. Keppel Shipyard secured a contract for the conversion of a FPSO vessel for Armada Kraken, a wholly owned subsidiary of Bumi Armada. Keppel Singmarine secured a contract from Baku Shipyard to design and carry out fabrication and outfitting works for a SCV. Keppel Shipyard s contract with Golar Hilli Corporation, a subsidiary of Golar LNG Ltd, to perform the world s first-of-its-type conversion of an existing Moss LNG carrier, the HILLI, into a Floating Liquefaction Vessel (FLNGV), became effective. The contract is worth approximately US$735 million. Keppel FELS delivered ENSCO 122, the third ultra-premium harsh environment ENSCO 120 Series jackup rig, to Ensco ahead of schedule. Gulf Drilling International Limited (GDI) awarded two contracts worth US$110 million to Nakilat- Keppel Offshore & Marine (N-KOM).The first contract is for the construction of a self-propelled and selfelevating liftboat customised for field transit operations in the Middle East and North Africa (MENA) region in water depths of up to 65 metres. N-KOM was also awarded a six-year repair and maintenance contract for GDI s existing fleet of jackup rigs operating in the Middle East. At the seventh Singapore- Tianjin Economic & Trade Council Meeting, Keppel O&M signed a memorandum of understanding to set up a technology centre in the Sino-Singapore Tianjin Eco-City. August Keppel FELS delivered the world s largest jackup rig, Continues on page 20...

20 20 Special Focus...continued from page 19. Keppel FELS delivered the world s largest jackup rig, XLE-2, to Maersk Drilling on budget and seven days ahead of schedule. It is the second of three such rigs that Keppel is building for Maersk XLE-2, to Maersk Drilling on budget and seven days ahead of schedule. The rig is a XL Enhanced (XLE) harsh environment jackup rig and has been customised for operations in the North Sea. Keppel FELS delivered its fourth jackup rig, Dukhan, to GDI of Qatar nine days ahead of schedule, on budget and with a perfect safety record. Dukhan is a high specification rig built to Keppel s proprietary KFELS B Class design. Keppel FELS secured a contract from GDI of Qatar to build a repeat high specification KFELS B Class jackup rig worth US$227 million. As part of the contract, GDI has options for two more KFELS B Class rigs for deliveries in October Keppel Shipyard and Keppel Nantong secured contracts from repeat customers worth a total of $153 million. Keppel Shipyard s contract is for the conversion of a FPSO vessel for Armada Cabaca Limited while Keppel Nantong s contract is to construct a submersible barge, Giant 7, for Smit Shipping. Keppel FELS secured a contract from BOT Lease Co. Ltd, an affiliated company of The Bank of Tokyo-Mitsubishi UFJ, for a KFELS Super B Class jackup rig worth about US$240 million. Scheduled for completion at end-2016, the rig, which is provisionally named Hakuryu 15, will be operated by Japan Drilling Co., Ltd. November Keppel AmFELS LLC delivered the jackup rig, Coatzacoalcos, to Mexico s Central Panuco S.A. De C.V. on time, within budget and with zero lost time incidents. Coatzacoalcos is the fourth jackup rig built by Keppel AmFELS for Perforadora Central and the third based on the LeTourneau Super 116E design. The yard is currently building a fifth jackup to Keppel s proprietary KFELS B Class design for Perforadora Central. Keppel FELS was conferred the title of Largest manufacturer of offshore rigs current by Guinness World Records for delivering 21 rigs in 2013 (see page 40). December Keppel FELS has delivered a third KFELS B Class jackup drilling rig to Star Drilling Pte. Ltd., an associate company of India s D P Jindal Group (Jindal) (see page 6). Keppel Shipyard celebrated the naming of the Floating Production Storage and Offloading (FPSO) vessel Bertam with Lundin Petroleum, Petronas and its exploration & production subsidiary, Petronas Carigali (see page 8). INFRASTRUCTURE March K-Green Trust (KGT) proposed an expansion in its investment mandate to cover a wider range of infrastructure assets, to better align with the wider business of its sponsor, Keppel Infrastructure (KI). April KGT received approval from its unitholders to expand its investment mandate on 15 April 2014 and was renamed Keppel Infrastructure Trust (KIT) on 16 April 2014 to better represent the nature and scope of the infrastructure assets and businesses that the trust may acquire. May Keppel Datahub 2 became the first new data centre in Singapore to achieve the Platinum Award for BCA-IDA Green Mark, the highest green accolade conferred by the Building and Construction Authority (BCA) and Infocomm Development Authority of Singapore (IDA) specifically for data centre developments. Mr Khor Un-Hun was appointed CEO of Keppel

21 21 Infrastructure Fund Management (KIFM), Trustee-Manager of KIT, on 15 May June On 1 June 2014, Mr Loh Chin Hua succeeded Mr Teo Soon Hoe as Chairman of Keppel Telecommunications & Transportation (Keppel T&T) and Mr Chan Hon Chew was appointed to the Keppel T&T Board as a Non-Executive and Non-Independent Director. Keppel Seghers sold its entire interest in Amotfors Energi, an associated company whose principal activity is to own, operate and maintain a wasteto-energy (WTE) plant in Amotfors, Sweden. KIT entered into an agreement with the National Environment Agency to provide additional incineration capacity to the Senoko WTE Plant. The plant will undergo upgrading between 3Q 2015 and 3Q 2016 to boost its contracted incineration capacity by up to 10% from 2,100 tonnes per day. October Keppel Logistics expanded its capabilities down under with Keppel Logistics (Australia) with a 10,000 sm warehouse in Brisbane, Australia. The warehouse currently serves as a Regional Distribution Centre serving the Australian and New Zealand markets of international publisher Wiley, with Keppel Logistics (Australia) providing warehouse management and local transportation services. Continues on page Dr Ong Tiong Guan, CEO of KI, was appointed to KIFM s Board as a Non-Executive and Non-Independent Director on 1 June Mr Teo Soon Hoe retired from his position on the Board. July On 1 July 2014, Mr Thomas Pang was appointed CEO of Keppel T&T and to the company s Board as an Executive Director. Mr Khor Poh Hwa was appointed to the Board of Keppel T&T as a Non-Independent, Non-Executive Director. Mr Michael Chia stepped down as a Non-Independent, Non-Executive Director and member of the Board Risk Committee and Board Safety Committee of Keppel T&T. September Mr Lim Chin Leong was appointed to the Board of Keppel T&T as an Independent, Non-Executive Director, and member of the Nominating Committee and Board Safety Committee on 1 September Keppel Infrastructure Trust (KIT) agreed to acquire a 51% stake in Keppel Merlimau Cogen, which will form an integral part of the combination of KIT and CitySpring Keppel T&T entered into a sale and purchase agreement to acquire Almere Data Centre 2, a purpose-built shell and core data centre facility located in Almere, the Netherlands

22 22 Special Focus...continued from page 21. November Keppel Gas entered into a Heads of Agreement with Petronas LNG to purchase up to one million tonnes of Liquefied Natural Gas per year over 10 years. KIFM and CitySpring Infrastructure Management, in their capacity as Trustee- Managers of KIT and CitySpring Infrastructure Trust (CIT) respectively, agreed to combine KIT and CIT. KIT agreed to acquire a 51% stake in Keppel Merlimau Cogen, which will form an integral part of the combination. This will create the largest Singapore infrastructurefocused business trust. These transactions are subject to the approval of minority unitholders of KIT and CIT. Keppel and Temasek will abstain from voting. approved at an Extraordinary General Meeting on 25 November December Keppel DC REIT made a strong debut on the Main Board of the Singapore Exchange, becoming the first data centre REIT listed in Asia and the largest REIT IPO in Singapore for the year-to-date with $512.9 million raised. Mr Chua Hsien Yang was appointed CEO of Keppel DC REIT Management (see page 4). Property January Mr Loh Chin Hua was appointed Chairman of Keppel Land on 1 January Keppel Land China was named one of the Top 10 ASEAN Companies in China for the second consecutive year by the China-ASEAN Business Council. Keppel Land acquired a prime three-hectare site in West Jakarta, where it will develop a high-rise condominium with ancillary shophouses for sale. Keppel Land was ranked 17 th in Corporate Knights Global 100 Most Sustainable Corporations in the World, placing it first in Asia and real estate companies worldwide. February Keppel Land was recognised for excellence in innovation and conferred the Channel NewsAsia Luminary Award May Keppel garnered a total of 12 awards at the annual BCA Awards, with Keppel Land awarded the highest honour of BCA Green Mark Champion. Keppel Bay Tower and Bugis Junction Towers were conferred the BCA Green Mark Platinum Awards. July Keppel Land increased its stakes in The Estella in Ho Chi Minh City to 98% in Phases 2 and 3 of the development. Keppel Land made its maiden investment in the United States with a prime residential development in Manhattan, New York City. Keppel Land s total investment in the project is about US$70 million. Keppel Land divested its 37.7% interest in Elita Keppel T&T entered into a sale and purchase agreement with the Reggeborgh Group and VolkerWessels Group to acquire Almere Data Centre 2 located in Almere, the Netherlands. Keppel Infrastructure signed an agreement for the sale of its entire stake in Keppel FMO to Cofely GDF SUEZ (see page12). Keppel T&T s proposed divestment of its interests in Keppel Digihub, Keppel Datahub 1, Gore Hill Data Centre and Citadel 100 Data Centre, and their proposed injection into Keppel DC REIT to its shareholders was Keppel swept a total of 12 awards at the annual Building and Construction Authority of Singapore (BCA) Awards night held on 22 May 2014,including the prestigious BCA Green Mark Champion Award, received by Keppel Land CEO Mr Ang Wee Gee (centre), as well as the BCA Green Mark Platinum Award and BCA-IDA Green Mark Platinum Award received by Mr Chng Hak Kiat (right), Senior GM, Keppel Data Centres and Mr Rick Lim (left), Deputy GM, Keppel Datahub

23 23 Keppel Land moves ahead to the next phase of developing a 37-storey office tower in Saigon Centre Phase 2 Garden Vista, a residential development in Kolkata, India. August Keppel Land and Alpha Investment Partners (Alpha) completed the divested of their 65% and 35% respective interests in Equity Plaza for a cash consideration of $550 million. Ocean Financial Centre and Marina Bay Suites were conferred the International Real Estate Federation FIABCI Singapore Property awards under the Office and Residential (High Rise) categories respectively at the FIABCI Singapore Property Awards. September Keppel REIT completed the divestment of its 92.8% interest in Prudential Tower for $512 million, which was 4.5% above the $490 million valuation. Keppel Land announced the divestment of its 80% effective stakeholding in BG Junction, a stratatitled retail development in Surabaya, Indonesia, for approximately $42.8 million. Keppel Land retained its position on the MSCI Global Socially Responsible and Sustainability Indices, and was listed on MSCI World Environmental, Social and Governance Index of large and mid-cap developed market companies. At the inaugural Asia Pacific Regional Network Leadership Awards in Green Building by the World Green Building Council, Keppel Land was named a winner in the Business Leadership in Sustainability category. Keppel REIT was ranked first and named Regional Leader for Office Sector (Large Cap) in Asia in the Global Real Estate Sustainability Benchmark This is the first year that Keppel REIT has been assessed and ranked against real estate industry players worldwide. Keppel Land partnered with Royal Philips to replace its existing conventional office lamps with energy-efficient LED lighting on a zero capital expenditure scheme to reduce lighting energy consumption in its office premises by up to 60%. October Strengthening its commercial portfolio in the Southeast Asian region, Keppel Land progressed into the next phase of developing a 37-storey office tower in Phase Two of Saigon Centre in Ho Chi Minh City, Vietnam, for US$255 million. Keppel Land announced that it will expand its SM-KL project in Manila, the Philippines. Phase Two will comprise a 42-storey office building and an extension of retail mall, The Podium, for $336 million. Keppel Land announced its plans to redevelop International Financial Centre Jakarta s Tower 1 into a 49-storey state of the art office tower for approximately $266.4 million. Keppel Land divested its 51% interest in Al Mada Towers, a condominium development in Jeddah, Saudi Arabia, for $185.1 million. November Keppel Land was named the Most Admired ASEAN Enterprise under the corporate excellence category (large size company) at the ASEAN Business Awards December Keppel Land completed the divestment of its one-third interest in Marina Bay Financial Centre Tower 3 to Keppel REIT (see page 7). Keppel Land announced plans to jointly develop a 23-storey office tower with the ShweTaung Group in Yangon s CBD which will be part of the Junction City mixed-use development in Myanmar. Keppel Land s total investment in the project is approximately $61.6 million. (see page 8). keppelite

24 24 Sustaining Growth Mr Loh Chin Hua (left), CEO of Keppel Corporation and H.E. Luis Fernando de Andrade Serra (right), Ambassador of Brazil; 2. (From left) Mr Chow Yew Yuen, CEO of Keppel Offshore & Marine; H.E. Tran Hai Hau, Ambassador of Vietnam; and H.E. Heather Alison Grant, High Commissioner of Canada; 3. Mr Michael Chia (left), MD (Marine & Technology) of Keppel Offshore & Marine, and Mr Kevin Chong (centre), Director of Singapore Industrial Research, Deutsche Bank AG; 4. Mr Conrad Raj (left), former Editor-at-large of Mediacorp Press and Mr Chan Hon Chew, CFO of Keppel Corporation A merry gathering It was a night of merriment, good food and even better company as the annual Friends of Keppel party saw government and business associates, journalists and analysts relax and catch up with Keppel senior management. Hosted by Keppel Corporation s Group Corporate Communications, the event was held on 5 December 2014 with the theme of A Garden Christmas.

25 Sustaining Growth From left) Mr Ronnie Lim, former Energy Correspondent of Business Times; Mr Ho Tong Yen, CEO of Sino-Singapore Tianjin Eco-City Investment and Development Co., Ltd.; and Ms Debra Soon, MD of Channel NewsAsia; 6. (From left) Mr Chew Boon Leong, Correspondent, Lianhe Zaobao; Ms Angela Koh, Associate Business Editor, Lianhe Zaobao; and Ms Yolanda Guo, Assistant Manager, Group Corporate Communications, Keppel Corporation; 7. (From left) H.E. Heather Alison Grant, High Commissioner of Canada; Mr Robert Chong, Director of Human Resources, Keppel Corporation; and Mr Thomas Pang, CEO of Keppel T&T; 8. (From left) Mr William Goh, Director of Portfolio Management, Temasek; Mr Tay Lim Heng, Director of Group Risk Management, Keppel Corporation, Ms Eva Ho, Deputy GM of Group Corporation Communications, Keppel Corporation; Mr Robert Chong, Director of Group Human Resources, Keppel Corporation; and Mr Wong Kok Seng, MD (Offshore), Keppel Offshore & Marine; 9. H.E. Antonio A Morales (left), Ambassador of the Philippines together with H.E. Rogelio Granguillhome Morfin (right), Ambassador of Mexico; 10. Mrs Tran Hai Hau (left), wife of H.E. Tran, Ambassador of Vietnam and Ms Wang Look Fung (right), Director of Group Corporate Affairs, Keppel Corporation

26 26 Sustaining Growth Spurring Innovations Superior semi accommodation As the search for oil and gas continues to move into deeper waters further offshore, more innovative offshore accommodation solutions are required for robust support. Floating accommodation platforms provide additional living quarters for drilling and production personnel during hook-up and commissioning in the development phase, for maintenance and upgrading during the production phase, as well as for decommissioning. Among Keppel O&M s suite of proprietary designs for semisubmersible accommodation units is the DSS 20NS, a new generation accommodation semi designed to work in some of the harshest environments. The DSS 20NS design meets the most stringent rules and regulations for the Norwegian Sector of the North Sea, making it one of only two proven designs built for the harsh North Sea environment in the last two decades. Developed by Keppel O&M s Deepwater Technology Group (DTG), the DSS 20NS design incorporates a number of Keppel s tried-and-tested enhancements as well as the unique requirements of its customers and their markets. The first unit to be built to this design, Floatel Superior, was completed in 2010 and has been successfully operating in the North Sea. The second unit, Floatel Endurance, is on track for completion in 1Q The DSS 20NS design incorporates the latest technology such as Dynamic Positioning (DP) 3 capability and enhanced stationkeeping, enabling it to operate securely alongside fixed platforms, floating platforms and Floating Production Storage and Offloading Vessels, with a full complement of deck cranes, large open deck Fuel for thought Completed in 2010, the Floatel Superior is the first DS 20NS accommodation semi built for the North Sea, where it has been operating successfully area, workshops and firefighting capabilities. Able to accommodate 440 persons in single bed cabins, the DSS 20NS design features ample recreation areas as well as office amenities. In recognition of its innovative, world-class features, the DSS 20NS design bagged a Gold award at the Keppel O&M Innovation Awards In 2013, the design also received external recognition, garnering the Prestigious Engineering Achievement Award from the Institution of Engineers Singapore in keppelite Innovation distinguishes between a leader and a follower. Steve Jobs

27 Sustaining Growth 27 On the Mark A trademark that has come to represent Keppel s high standards of quality and distinction, the Keppel spur is the inspiration behind the Keppel Group s 2015 calendar, On the Mark. Through creatively angled photographs, the calendar provides fresh perspectives on the Keppel spur and how it embodies Keppelites achievements, present resolve and untapped potential. In putting together the calendar, Keppel Corporation s Group Corporate Communications team combed through an extensive selection of photographs to shortlist twelve that represent the diverse industries and activities that Keppel is involved in. Keppelite showcases four of those photographs here. keppelite

28 28 Sustaining A Special GrowthTribute In memory of Teo Soon Hoe An astute trail blazer, sharp strategist and tough negotiator, the late Mr Teo Soon Hoe was also a patient boss, loyal colleague and, above all, a doting father and devoted husband. Mr Teo passed away on 14 December 2014 from cancer. His instrumental role in Keppel s growth over his 40 year-career with the Group is legendary, but just as profound is the personal impact he had on those around him. An understated and humble man, he lives on as an inspiration to many. Keppelite remembers Mr Teo through tributes from family, friends, colleagues and business associates. Mr Teo Soon Hoe was a devoted husband to Valerie and doting father to his daughter and son From joining as an Assistant in the Management Services Unit of Keppel Shipyard in 1975, Mr Teo rose through the ranks, was seconded to various subsidiaries in the Keppel Group and played indispensable roles in many of Keppel s watershed years. Having served as the Group Finance Director (GFD) of Keppel Corpoation from 1985 to 2011, Mr Teo went on to be the Senior Executive Director until his retirement in May Generous with his expertise, Mr Teo was a mentor to many in the early stages of their careers, as well as an advisor to companies across the Group. Besides serving as Chairman of Keppel Telecommunications & Transportation (Keppel T&T), Mr Teo was a Director in several companies in the Group, including Keppel Offshore & Marine, Keppel Land, Keppel Infrastructure Fund Management, k1 Ventures and Sino-Singapore Tianjin Eco-City Investment and Development Co., Ltd. Indeed, he was at the forefront of the efforts of Keppel and Singapore to further bilateral business relations with China, establishing robust relationships with and earning the trust of partners in China despite his lack of fluency in the Chinese language. In his last public address at his retirement dinner in June 2014, Mr Teo spoke vividly about his most memorable moments at Keppel. What a journey! was his refrain, as he recounted a number of milestones he had jotted down on a Singapore Airlines notepad during his most recent business trip. In a way, it was symbolic of the resourcefulness and tireless work ethic which he displayed from a young age, helping his mother sell kueh as a boy. Years later, as a young man, he put himself through university. The austere hardship he endured in his formative years imbued him with a tenaciously frugal nature, and in his leadership roles he demanded strong financial discipline in all of Keppel s endeavours. Prudence thus became one of Keppel s hallmark attributes which helped to cushion the Group during many industry and economic downturns. An intensely private person, the full extent of Mr Teo s talents including tennis, photography and debating as a student at Raffles Institution was known only to those closest to him. There was no doubt, however, that his greatest joy in life was his family. He was so happy when the kids were born, said his wife Valerie. He worked hard for us, and the children especially.

29 A Special Tribute 29 Mr Teo Soon Hoe s tenacity and fierce dedication to his work was instrumental in making Keppel a world-class corporation My Dad was a humble and simple man. He disliked overspending on unnecessary things. He encouraged me to read more and was willing to buy books I liked. Dad was a caring father. Every day, he would ask us how was school. Even when he was sick, he helped me in my homework, especially my maths problem solving. My Dad was a kind man. Every day, I noticed Dad would read the newspaper obituaries first. He would make time to pay his respects to his friends parents who passed away. I once asked Dad if I could be a Keppelite. Dad said Yes, BUT I must be very good. I will work very hard to be like my Dad. Jonathan Teo Son Dad was a filial son. He loved his 94-year-old mother very much. He would have lunch with her immediately upon being discharged from hospital. When he couldn t, Ah Mah would bring food to him for dinner at home. Dad was a good friend. He treated everyone with respect, including drivers and the coffee lady in the office. He has so many good friends here and all over the world. Dad helped me with my maths too algebra in lower primary school when we were not yet taught. I helped Dad in Chinese. He wanted to be fluent in Chinese upon retirement. He always emphasised that Chinese was very important. My dad worked and lived for all of us. Jasmine Teo Daughter Soon Hoe rendered distinguished service to Keppel in many different capacities for over 40 years. He rose from Management Assistant in 1975 to Group Finance Director (GFD) and Senior Executive Director (SED) prior to his retirement in May Post retirement, he continued to serve Keppel in various non-executive appointments. His clear focus on Keppel s interests and total commitment to execution excellence in all our businesses were instrumental in the success and growth of the company. As GFD, he managed the Group s investments with skillful and sensitive hands to create tremendous value for all stakeholders. His appetite for hard work and attention to detail helped to ensure that our multiple property projects not just sold well but also gained accolades and awards for building excellence. His devotion to Keppel is legendary within the company. Those of us who worked closely with Soon Hoe have the greatest respect for him. He had also gained tremendous respect from his peers in the business community on account of his firm, friendly and fair approach with all who dealt with him. We have lost a good friend, capable colleague and visionary entrepreneur. We mourn his demise and offer our deepest condolences to his wife Valerie and their children. Dr Lee Boon Yang Chairman Keppel Corporation Keppel has lost a son. Soon Hoe worked tirelessly and dedicated his life s work to Keppel. I will always remember him as someone who always thought of Keppel first. For his colleagues, Soon Hoe has been a rock that we could depend on, especially in the face of adversities. At Keppel, Soon Hoe was single-mindedly focused on one mission: to seize opportunities to create and enhance value for the Group. This focus drove him to start and grow Keppel s banking and financial services division, which was eventually divested and provided a strong war chest for Keppel s growth. Continues on page 30...

30 30 A Special Tribute...continued from page 29. Soon Hoe was also instrumental to the development of Keppel Bay into today s world class waterfront precinct. His passion, drive, commitment, courage and energy will remain an inspiration to all of us for a long time to come. Loh Chin Hua CEO Keppel Corporation Soon Hoe was a great friend and a loyal and courageous colleague for over 40 years. As GFD of Keppel Corporation for 28 years and SED for two and a half years prior to his retirement, Soon Hoe was head of finance and a key member of the top management of Keppel. He was also overseeing our Tianjin Eco-City project while concurrently taking on the chairmanship of Keppel T&T and M1. He was sharp, energetic and fiercely loyal to Keppel, and he made special effort to ensure Keppel s interests were protected and indeed, enhanced. We will all miss him. Choo Chiau Beng Senior Advisor Keppel Corporation his career, he contributed significantly both as a leader as well as a team player. He had an uncanny ability to successfully take on the appropriate role depending on what the situation demanded of him. We shall henceforth value Soon Hoe for the contribution he shall continue to make within Keppel as a role model for all our young managers. For this, we are deeply grateful to him. Lim Chee Onn Executive Chairman Keppel Corporation Soon Hoe and I were colleagues and friends for 40 years. I deeply admired his entrepreneurial skills in building Keppel s financial services business. He was a very tough but skillful negotiator and such a good dealmaker that he was always able to seal deals in the best interest of Keppel. He was also adept at building up the companies. I worked closely with him in managing the finance company and was fortunate to learn and grow under his leadership. He empowered us and gave us a free hand in working towards meeting the strategic vision for the company. This was Soon Hoe s special touch he was tough at work and yet had a caring heart for the people around him. Chee Jin Kiong Former Director Group Human Resources Keppel Corporation Soon Hoe was both a dear friend and a close colleague. We always quietly supported each other in our respective areas of work. I admired him for his skillful ways with financial matters and he respected me for my strengths in operational management. Soon Hoe was truly passionate and committed to furthering Keppel s interests, so I knew I could trust his judgment whenever he recommended a certain course of action. My wish is for all Keppelites to remember Soon Hoe s contributions and how he devoted himself to growing Keppel to what it is today. Tong Chong Heong Senior Advisor Keppel Offshore & Marine Soon Hoe s demise is an immense loss to his family, friends and fellow Keppelites. We shall all miss his counsel, cheerfulness, Can Do! spirit, and, in particular, his tenacity to pursue all that is worthy of pursuit. He displayed great fortitude during his working life in Keppel. Throughout Keppel TatLee Finance came into being in February The banking and financial services division was nurtured and grown into a major pillar of earnings growth from the Group. In 2001, following a strategic streamlining exercise, the division was divested. The proceeds enabled the privatization and integration of Keppel s Offshore & Marine business to become a prime business division today

31 A Special Tribute 31 Soon Hoe is irreplaceable. His passion, determination and entrepreneurial spirit exemplified the core of what Keppel stands for. As a friend, he was thoughtful, caring, dependable and ever ready to reach out to those who needed help. Tan Swee Yiow President (Singapore) Keppel Land Etched on the proverbial coin of Soon Hoe is drive, acumen and entrepreneurship on one side; and on the other are his three Cs concern, consideration and compassion for others. Khor Poh Hwa Chairman Keppel Infrastructure Fund Management Board Director Keppel Telecommunications & Transportation As Chairman of Keppel T&T, Soon Hoe tirelessly provided strategic guidance on the China investment projects to ensure the best investment terms and returns. I admired his foresight and focus on execution excellence and learnt a lot from him. At a personal level, every time he visited us on his trips he would first ask about our family and work before talking about business issues. Three years ago, when he came to know that I would be going for a major heart operation, he immediately spoke with his friend who was a doctor to ensure that my surgeon would be giving me the best treatment. When I awoke the morning after my surgery, he was my first visitor in hospital. He was such a caring boss all Keppelites at Keppel T&T will remember him. Vincent Ko CEO China Logistics Business Unit Keppel Telecommunications & Transportation Mr Teo was a very good boss who treated his co-workers with respect, regardless of age or working background. He always willingly took the time to guide us through his decisions and explain the rationale behind them. During nearly 30 years of working with him, he taught me a lot. His passing is indeed a great loss. He will be deeply missed. Doris Chia Administrative Executive Keppel Corporation Mr Teo was one of the instrumental pioneers of the Sino-Singapore Tianjin Eco-City project and participated in the entire phase of establishing and growing the joint venture company Sino-Singapore Tianjin Eco-City Investment and Development Co., Ltd. He made significant contributions to the development of the Sino- Singapore Tianjin Eco- City, and worked tirelessly for achieving the vision of this project set by the governments of Singapore and China. We are deeply impressed by and accord the greatest respect for Mr Teo s professionalism, passion and commitment. We will all miss him. Yuan Tongli Standing Committee Member Communist Party of China (CPC) Tianjin Municipal Committee Secretary Committee of Political and Legal Affairs of the CPC Tianjin Municipal Committee Mr Teo Soon Hoe was a man of graciousness, dedication and a broad mind. He made his mark and was highly respected. During his time, he pushed for Keppel s investment in Lu an City and gave his support to the development of the Keppel Wanjiang International Coldchain Logistics Park. His efforts contributed significantly to the economic cooperation between Singapore, Lu an City and Jin an District. The people of Jin an will remember him for his contributions. Wang Longzhao Party Secretary of Jin an District Jin an District People s Government Mr Teo was a loving father and husband, an insightful and sharp business leader and simply a nice person to know. We are deeply saddened by his passing and believe many feel the same way. We offer our deepest condolences to his family. Kevin Chong Director of Singapore Industrial Research Deutsche Bank AG Mr Teo stood out among business leaders for his foresight and his passionate pursuit for excellence. I was constantly amazed by his energy level and mental ability to tackle different strategic issues concurrently. Mr Teo would fight to deliver and it is this unyielding spirit that has helped build Keppel into a world class corporation. Beneath the tough persona, Mr Teo was a devoted and selfless husband and father. When he was unwell, his key concern was to ensure his children were kept busy with activities and distracted from his condition. At a recent charity dinner which Mr Teo sponsored, I learned that he benefitted from a bond-free undergraduate scholarship. In the spirit of paying it forward, he continued to support the same organisation among many others he supported over the years. It was my privilege to have known Mr Teo beyond the professional front. I will miss him dearly. Low Horng Han Industrial, ASEAN Healthcare Citigroup Investment Research

32 32 Empowering Lives Lives Keppelites Around the World Scaling heights Vo Anh Khoa s work with Keppel Land has allowed him to reach new heights literally. In 2013, together with two colleagues, he reached the summit of the 3,143 metres-tall Fansipan mountain in Northwest Vietnam, dubbed the Roof of Indochina. A self-professed workaholic, Khoa unexpectedly took up mountaineering a few years ago, and relishes the physical and mental challenges it poses. I ve come to realise that there are many parallels in working life to scaling a mountain it requires not only the right skills and the tools, but perseverance and a Can-do! attitude, he shared. In his five years with Keppel Land (Vietnam), the 30-year old Senior Marketing Communications Executive has had plenty of opportunities to hone those qualities in working on the development of Keppel Land s residential projects in Ho Chi Minh City. These include The Estella, the company s first condominium project, Riviera Point Phase 1A and Riviera Cove, a villa development. While many may say they Vo Anh Khoa, Senior Marketing Communications Executive, has discovered many parallels between mountaineering and working life are driven by a passion for their work, Khoa has a concrete example of how he actually is. Once, in search of a suitable location to place directional signage for a Keppel Land project, he drove his motorcycle up and down the highway multiple times until he was certain of the right spot. While certain tasks can be outsourced to a contractor, their proposals may not take into consideration other seemingly minor but significant factors. For every project and task I m involved in, I take it as an opportunity to expand my skillset. Now I can even contribute to discussions with contractors on what materials to use, he laughed. These are definitely not things you learn in a classroom. Neither are the many lessons he has picked up in his short time mountaineering. Now thinking of scaling Mount Kinabalu in the East Malaysian state of Sabah next year, Khoa says, Reaching each rest point is akin to meeting a personal short-term goal, and each step towards the summit accumulates a sense of satisfaction and achievement. There may be sharp drops or steep ascents along the path, but we must be receptive to encountering obstacles and not lose motivation to arrive at the summit. Khoa is also excited by the growth of the company in his country. Keppel Land has been operating in Vietnam for more than two decades and has rode out the ups and downs in the property market. I have no doubts that in the next 10 years, Keppel Land will have progressed far and will be even more recognised for the sterling quality of all our projects. Married to his high-school sweetheart, Khoa is a proud father to his two-year old daughter nicknamed Bingo. He shared, Every morning my daughter passes by my office at Saigon Centre on her way to school and points out eagerly that daddy works for Kep Po Len. keppelite

33 Empowering Lives 33 A leg up to good health To promote fitness at work and encourage Keppelites to exercise regularly, management and over 4,000 employees from Keppel FELS worked up a sweat during the annual KFELS Active Day, held at Pioneer Yard on 6 December Keppel Corporation. We are all constantly busy with our work but it is very important to take the time to exercise and keep healthy. An active lifestyle not only improves our health but it also increases our concentration at work, enabling us to work safer and more productively, he said. keppelite Heeding the event organisers call to KICK the blues away, start BOXING today, the participants spent an enjoyable morning doing a vigorous kickboxing workout. Among the participants was Mr Loh Chin Hua, Chairman of Keppel O&M and CEO of Keppelites worked up a good sweat with a vigorous kickboxing workout at the annual KFELS Active Day held at Pioneer Yard Bayside bonding More than 70 staff across Keppel REIT and Keppel Land Hospitality Management bonded over a sumptuous lunch and light-hearted trivia games at the Marina at Keppel Bay on 27 November Keppel Land regularly holds such cross-unit interactions to forge stronger bonds between staff across different departments and nurturing a better working environment. keppelite A fun-filled lunch interaction session at Marina at Keppel Bay brought staff from Keppel REIT and Keppel Land Hospitality Management closer together During a tour led by the Head of Marina Management at Keppel Land Hospitality Management, Mr Trevor Fong, the group was wowed by both the plethora of sea creatures in the waters and the superyachts lining the berths.

34 34 Empowering Lives New year, new beginnings As we move into 2015, Keppelites across the Group share their aspirations for the year ahead and wishes for Keppel in our next chapter of growth. As we make the transition to our next chapter of growth, I hope we can leverage strengths within the Keppel Group of companies locally as well as overseas to grow Keppel Telecommunications & Transportation in the data centre and logistics sectors. Ngiam Share Ching GM (Business Development) Keppel Telecommunications & Transportation I hope that the Group will be able to harness all the knowledge and expertise spread across the countries in which we operate, allowing us to unlock unprecedented amounts of energy and creativity and make our clients and ourselves even more successful than we are today. Harold Linssen MD Keppel Verolme My main objective is to continue growing with BrasFELS, helping the company deliver projects in alignment with our core values and four Golden Pillars. I will strive to work with my team to improve processes in the shipyard and make it more competitive locally and internationally. Renan Carlos De Faria Assistant Manager, Operations Management BrasFELS My wish is to see Keppel continue to be at the forefront in product development and innovative solutions. Customers must continue to view us as the solutions provider of choice. I also hope the Group continues to develop employees to their fullest potential for the successful growth of our Keppel family. Rajinee D/O Kunachelvam Technical Manager Keppel FELS

35 Empowering Lives 35 In the Chinese Hsia Calendar, 2015 is a Goat Year characterised by the Wood element sitting on top of the Earth element, creating good conditions for positive innovations. Aptly, let us start thinking in new directions, for within our own creativity lies the key to Keppel s brand of success. Ivan Lim Shaw Chuan GM (Operations) Keppel Shipyard As we prepare ourselves for the next lap, my hope is for Keppel to become more competitive and successful. I hope all Keppelites will continue to work safely and look out for each other. Always remember that there is no job so important that it cannot be done safely. Paul Rodrigues Assistant GM (HSE Operations) Keppel Infrastructure Li Gang VP (Commercial) Keppel Nantong My wish is for everyone working for Keppel around the world to be proud that they are an employee of the company and continue to play their part in its success and growth. By driving close collaboration with stakeholders, Group Risk Management will continue to support our risk mitigation and capitalise on growth opportunities. I hope to contribute to upholding a strong risk-centric culture to keep us agile to leap into the next phase of growth. Perlita Wee Senior Manager, Group Risk Management Keppel Corporation I hope that the Group will be able to smoothly ride out the expected tougher global and local market conditions next year and emerge stronger, more united and hungrier than ever for success. Lee Yong Poh Senior Manager, Marketing Keppel Land Moving forward, I hope Keppel Land continues to strengthen its presence and become the number one real estate developer and employer of choice in Asia. As a young Keppelite, I hope to contribute to the Group s continuous growth, while growing with the company. Cady Tran Thi Minh Hai Executive, Marketing Keppel Land Vietnam

36 36 Nurturing Communities Communities Festive cheer To spread Christmas cheer to the less fortunate, Keppel REIT invited tenants of Ocean Financial Centre and those working in the vicinity to grant a wish for the children of Melrose Home. The home, which is part of the Children s Aid Society, provides a supportive environment for children and teenagers aged between three and 18 years who need care and protection. The children s wishes were listed on tags hung on decorated Christmas vases at the concierge of Ocean Financial Centre. Separately, as part of the Marina Bay Singapore Countdown 2015 celebrations, the building façade of Ocean Financial Centre will be lit up to usher in the New Year and Singapore s Golden Jubilee. The annual countdown event is also supported by Raffles Quay Asset Management, the building manager for Marina Bay Financial Centre and One Raffles Quay. keppelite Keppel REIT invited tenants of Ocean Financial Centre and members of the public to grant a wish for the children of Melrose Home Keen and green advocacy As a leading green developer, Keppel Land is renowned not only for its award-winning properties with eco-friendly designs, but also as a keen advocate of environmental education and outreach. The Good Earth ecoexhibition was held from 7 to 30 November 2014 at Sutera Mall in Taman Sutera, Keppel Land s integrated township in Johor Bahru, Malaysia. The event was organised in collaboration with various research, educational and charity organisations including the Effective Microorganism (EM) Research Organisation, Raffles University Iskandar and Kiwanis CareHeart Centre. The eight galleries showcased Tanah Sutera s philosophy of the 5Rs: Rethink, Reduce, Reuse, Recycle and be a Responsible member of the community. The Good Earth exhibition at Sutera Mall raised environmental consciousness through activities such as a recycling art competition (pictured) Examples of EM technology application within Taman Sutera were also on display and participants had the chance to learn more through activities and educational workshops held throughout the month. keppelite

37 Nurturing Communities 37 Learning and loving the arts One year on since its relaunch, Keppel Nights has enabled thousands of students to grow in their appreciation of the arts, exposing them to internationally-renowned acts. The programme is a partnership between Keppel Corporation and Esplanade Theatres on the Bay to give students from heartland schools access to world-class performances. Keppelite shares reflections from teachers of participating schools. Educational experience A dramatic tale of unrequited love and tragic irony, Onegin is based on Alexander Pushkin s landmark narrative poem of the same name. Performed by the revered Stuttgart Ballet, the ballet was a journey back into the grand, opulent world of Imperial Russia. The education kit provided by Esplanade beforehand was very useful for the students as there were descriptions and interesting YouTube links to explore, shared Peicai Secondary School teacher Lee Ching Yi, who accompanied her students on 1 November Most of the students very much enjoyed this first experience watching a ballet concert. They were impressed by the flexible dancers and awesome costume and prop design. Mesmerising moves Tracing the lives of three prolific Malay dance choreographers, Onak Samudera was a vibrant showcase of traditional and contemporary Malay dance, video projections and live narration. The performance on 7 November 2014 was enjoyed by more than 250 Keppel Nights students. Ahmad Ibrahim Secondary School teacher R Azmann A Rahman shared, It was heartening to see our students very engaged throughout the entire performance. Onak Samudera not only successfully showcased finer points of traditional and contemporary dance to our students, but most importantly, it drove across the message on the importance of embracing core values such as respect, responsibility, and resilience in life. Enthralling notes World-renowned conductor Valery Gergiev led the London Symphony Orchestra and pianist Denis Matsuev in an evening of masterpieces by Russian composers Shostakovich, Rachmaninov and Prokofiev. I was a bit worried that the performance would be heavy-going for the students. On the contrary, they found it very pleasant and everyone was engaged during the performance. All the students were enthralled by the piano solo, observed Ivan Teo, Head of Department for Physical Education and Cocurricular Activities at Loyang Secondary School, who accompanied his students on 20 November Students from Loyang Secondary School were thrilled to watch the London Symphony Orchestra through the Keppel Nights programme I would like to thank the Esplanade staff for receiving us and bringing us all the way to the door. We are not very accustomed to VIP treatment! keppelite

38 38 Nurturing Communities Sight to behold As part of the Keppel Group s ongoing efforts to make a positive difference in local communities, BrasFELS sponsored an educational day trip for the students of Cornélis Verolme, a school in Angra dos Reis, in the state of Rio de Janeiro, Brazil on 26 November the city of Rio de Janeiro. For many of the students, this was their first trip to the city and its iconic statue. One of them was nine year-old Luciana Fontes, who was ecstatic at being the first in her family to visit Christ the Redeemer and eager to share her experience with them. BrasFELS sponsored a learning visit to Christ the Redeemer, in the city of Rio de Janeiro, for students of the Cornélis Verolme school 66 students accompanied by their teachers and BrasFELS volunteers, visited the worldfamous Christ the Redeemer statue atop Corcovado mountain, which overlooks Most students on the trip were part of the Brazilian Ministry of Education s Mais Educação (More Education) programme, which promotes holistic education. keppelite Warm companionship It may have been a chilly winter morning on 29 November 2014, but there was plenty of warmth and joy at a local nursing home as 16 Keppel Nantong volunteers visited elderly residents there. During the visit, the volunteers distributed gifts such as food and winter clothing to the elderly, and chatted with them about their health and families. To cap off a productive morning, the volunteers split into groups to help with gardening and light chores around the nursing home. Volunteers from Keppel Nantong brought warmth and cheer to the elderly at a local nursing home The visit was part of Keppel Nantong s yearlong community service programme focused on helping underprivileged groups in society. keppelite

39 Nurturing Communities 39 Touching lives Whether in a community garden or at the theatre, Keppel volunteers engaged beneficiaries in a slew of fun-filled activities in recent months. Active aging On 21 November 2014, 12 Keppel volunteers worked with 15 elderly folks from St Theresa s Home to construct a garden as part of the Community in Bloom project, which improves the mental wellness of the elderly through gardening. First-time volunteer Jeow Pei Fen, Assistant Finance Manager from Keppel Telecommunications and Transportation s China office, was inspired to volunteer after learning about Keppel Volunteers at a recent Keppel Young Leaders symposium. Undeterred by Keppel volunteers and APSN beneficiaries were thrilled to meet the cast of the W!ld Rice pantomime Monkey Goes West after watching the show working under the sun and the language barrier with the elderly, Pei Fen is keen to continue volunteering. She said, The elderly folks smiles and their willingness to open up to us are very rewarding. Meanwhile, sharing the joy of music, 13 Keppel volunteers belted their hearts out with 25 elderly folks from Thye Hua Kwan Bedok Radiance Seniors Activity Centre during a karaoke session at Marina at Keppel Bay on 22 November Pantomime fun Enjoying a hilarious take on the Chinese classic Journey to the West, Keppel volunteers and Association for Persons with Special Needs (APSN) beneficiaries attended W!ld Rice s Monkey Goes West on 4 December 2014, even meeting the cast during an autograph session. NTUC retail assistant and APSN beneficiary Aaron Lam thoroughly enjoyed the show, which was also his first theatre experience. He said, I have watched movies and drama serials based on Journey to the West but this musical was particularly funny. Ryan Giam, Assistant Systems Engineer of Group Information Systems, said, I ve always wanted to volunteer but the events are often held on weekends, when I usually return to Johor Bahru to visit my daughter. I am glad to finally participate and that my boss was very supportive. This outing to Victoria Theatre was in conjunction with Keppel Care Foundation s donation to W!ld Rice to host the underprivileged to attend. keppelite Keppelites and elderly folks from Thye Hua Kwan Bedok Radiance Seniors Activity Centre enjoyed a karaoke session at Marina at Keppel Bay Keppel volunteers participated in the Community in Bloom project, which seeks to improve the mental well being of the elderly

40 40 BackPage Top of the league Mr Wong Kok Seng (holding the Guinness World Records certificate), MD (Offshore), Keppel O&M and MD, Keppel FELS, together with 21 project team members representing the 21 rigs completed As proof that it is officially amazing, Keppel FELS has been conferred the title of Largest manufacturer of offshore rigs current by Guinness World Records (Guinness) for delivering 21 offshore rigs to its customers in Guinness defined largest manufacturer in this case as the company which delivered the most number of offshore rigs in one year. The official record was awarded by Guinness after it completed a thorough assessment of supporting documentation provided by Keppel FELS, including a report by Deloitte & Touche LLP verifying that Keppel FELS had indeed achieved the feat of delivering 21 rigs in Keppel FELS also provided verification from the market intelligence firm IHS Petrodata that 21 is the most number of offshore rigs delivered by a single company in a year. In addition, IHS Petrodata compared the information against the deliveries of the top 10 rigbuilders in Mr Wong Kok Seng, MD (Offshore), Keppel Offshore & Marine and MD, Keppel FELS, said, For this achievement to have been possible, all aspects of our business had to be in good order. All our departments marketing, engineering, procurement, logistics, planning, project management, production, operations, among others had to be fighting fit and punching above their weight. Through its strong teamwork and executional capabilities, Keppel FELS delivered on its promises to its customers, and in doing so, set the 21-rig delivery world record. Keppel FELS previous delivery record was 13 rigs in Since 2000, Keppel FELS has built and delivered over 40% of the jackup rigs and about 30% of the semisubmersible rigs that have entered the global market. keppelite Printed on recycled paper