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Choo Chiau Beng News

06 Aug 2013

Keppel Celebrates 45 Years

In commemoration of its 45th Anniversary, themed “Shaping the Future”, Keppel Corporation commits $12 million to National Art Gallery, Singapore in support of its center for art education, to be named Keppel Center for Art Education. Committed to shaping the future, Keppel Corporation presented, as a gift to children of Singapore, the commitment of $12 million to National Art Gallery for its center for art education, which will be named Keppel Center for Art Education. President Tony Tan witnessed the presentation of the cheque by Dr Lee Boon Yang, Chairman of Keppel Corporation and Mr Choo Chiau Beng, CEO of Keppel Corporation to Mr Hsieh Fu Hua…

18 Jul 2013

Keppel Charts The Next Lap Of Growth

The Board and Management of Keppel Corporation Limited (Keppel Corp) has announced  the Group's holistic succession plan in charting its next lap of growth. On 1 January 2014, Mr Choo Chiau Beng, 65, CEO of Keppel Corp, will be succeeded by CFO Mr Loh Chin Hua. At Keppel Offshore & Marine Ltd (Keppel O&M), Mr Tong Chong Heong, 66, will be succeeded by COO Mr Chow Yew Yuen as CEO with effect from 1 February 2014. Mr Choo and Mr Tong will be appointed as Senior Advisors to the respective Boards of Keppel Corp, and Keppel O&M and Keppel Infrastructure, thereafter. The Company will make an announcement on the appointment of the new CFO for Keppel Corp at an appropriate time.

09 Jul 2012

Keppel Acquires Stake in KrisEnergy

Global marine offshore & energy group Keppel Corp. Keppel Corporation Limited (Keppel Corporation), through a wholly-owned subsidiary, has subscribed for new shares in KrisEnergy Ltd (KrisEnergy) for a total consideration of USD 115m. The consideration amount was injected as new capital into KrisEnergy, and Keppel Corporation now holds 20% of KrisEnergy's enlarged share capital. Established in 2009, KrisEnergy is an independent upstream oil and gas company with a diverse portfolio in Southeast Asia. The acquisition was funded internally and the price was derived from a willing buyer, willing seller basis. KrisEnergy was previously 100% held by parent company KrisEnergy Holdings Ltd, whose major shareholder is First Reserve, a leading global investment firm dedicated to the energy industry.

19 Apr 2012

Keppel Issues Unaudited Results for First Quarter

The Directors of Keppel Corporation Limited has issued unaudited results of the Group for the first quarter ended March 31, 2012. Net profit improved 141 percent, to S$751 million, compared to 2011's S$312 million. Earnings per share of 41.9 cents were up 138 percent from 1Q 2011's 17.6 cents. “I am happy to report that, for the first quarter of this year, Keppel Corporation has turned in a better performance than the corresponding period last year,” said Choo Chiau Beng, Chief Executive Officer. The outlook for the global economy remains mixed, according to Choo Chiau Beng. There are signs of improvement in the U.S. economy. Notwithstanding the various policy response mechanisms, the Eurozone sovereign debt crisis remains unresolved with renewed concerns over Italy and Spain.

26 Jan 2012

Keppel Details FY 2011 Results

The Directors of Keppel Corporation Limited advise the following unaudited results of the Group for the full year ended 31 December 2011. The FY 2011 Report Card and the Address by Mr Choo Chiau Beng, Chief Executive Officer, are below. I am pleased to announce that 2011 was yet another record year for Keppel Corporation. Our net profit grew by 14% to a new high of nearly $1.5 billion. This is the fifth year running that our net profit has surpassed the $1 billion mark. Also for the fifth consecutive year, our Return on Equity has remained above 20%. Economic Value Added has also increased to $1,024 million for the year. With these strong results, the Board of Directors will be recommending a total distribution to shareholders of 43 cents per share for the whole year.

20 Oct 2011

Keppel Appoints New CFO

In a move towards succession planning, the Board of Directors of Keppel Corporation Limited ("Keppel" / the "Company") announced that Mr Teo Soon Hoe will relinquish his role as Group Finance Director with effect from 1 January 2012. Mr Teo, 62, will continue to serve as Senior Executive Director and remain on the Keppel Board. He will remain as Chairman on the boards of Keppel Telecommunications & Transportation Ltd and M1 Limited. He will assist the CEO, Mr Choo Chiau Beng to strategize and grow Keppel's competencies in Sustainable Development, and oversee Keppel's investment portfolio and special projects such as the Sino-Singapore Tianjin Eco-City.

26 Jan 2011

Keppel Corp. Year End Results for 2010

The Directors of Keppel Corporation Limited advise the following unaudited results of the Group for the full year ended 31 December 2010. The FY 2010 Report Card and the Address by Mr Choo Chiau Beng, Chief Executive Officer, are below. The full set of financial documents for the results and the Address by Mr Teo Soon Hoe, Senior Executive Director and Group Finance Director, are attached and also available for download below. 1. Net profit before exceptional items improved 12% to S$1,419 million, compared to FY 2009's S$1,265 million. 2. Earnings Per Share of 88.7 cents, up 12% from FY 2009's 79.4 cents. 3. ROE remained above 20%. 4. Economic Value Added before exceptional items increased from S$1,026 million to S$1,035 million.

25 Jan 2011

Keppel Corp. Live Webcast, Financial Results, Jan 25

Keppel Corporation is announcing the Group's Full Year financial results on 25 January 2011, Tuesday at 5.30pm (GMT+8). Join the 'live' webcast, as Chief Executive Officer, Mr Choo Chiau Beng and senior management present the Group's performance and outlook. Register at www.kepcorp.com.

23 Apr 2010

Keppel Q1 Results

1. Net profit improved 13% to S$322 million compared to 1Q09. 2. Earnings per share of 20.2 cents, up 13% from 1Q09’s 17.9 cents. 3. Annualised ROE remained above 20%. 4. Economic Value Added increased from S$211 million to S$240 million. 5. Cash outflow of S$501 million. 6. Net cash decreased from 0.14x to 0.07x. The first quarter of this year saw the global recovery gaining momentum. The latest figures indicate that the recovery in the US is gradually broadening to embrace the manufacturing and services sectors, with signs of a turnaround in the labour market. Across in Europe, while recovery seems to be tentative, there appears to be improved business confidence. Economic growth in Asia has certainly remained firm. China grew by 11.9% in the first quarter of the year.

10 Dec 2008

Jindal’s 2nd Jackup – Early & Incident-Free

Keppel FELS Limited (Keppel FELS) is set to deliver a jackup rig ahead of schedule to Virtue Drilling, an associate company of India’s Jindal Drilling & Industries (Jindal). Named in the presence of Guest-of-Honor, Dr Lee Boon Yang, Singapore’s Minister for Information, Communications and the Arts, the jackup rig Virtue I, has also achieved a clean safety record of about 2.1 million man-hours worked without incidents. “In its strive for excellence in technology innovation and project execution…

03 Dec 2007

KOMtech: Keppel Debuts New Tech Center

Keppel Offshore & Marine Limited (Keppel O&M) celebrated its fifth year with a strong net orderbook of over $8.9b, including above $4.8b of new contracts secured year-to-date. The company was established in 2002 following the restructuring and integration of the offshore and marine businesses of Keppel Corporation. Focused on technology innovation to provide viable and cost effective solutions for its customers, Keppel O&M’s proprietary technologies have generated contracts worth some $10.3b over the years, including current projects under construction.

09 Oct 2001

Keppel To Restructure KHZ Under Keppel FELS

Keppel Corporation Limited (KCL) will restructure Keppel Hitachi Zosen Limited (KHZ) under Keppel FELS Limited (Keppel FELS), the rig building and repair arm of Keppel FELS Energy and Infrastructure (KFEI), to create a global leader in servicing the international marine and offshore market. KCL will transfer its entire 61% interest in KHZ to Keppel FELS immediately upon completion of the privatization of Keppel FELS Energy & Infrastructure Ltd (KFEI) in early to mid November this year. Shareholders of KFEI have given their approval for the delisting of the company on October 5. KCL Executive Director Choo Chiau Beng, said, ?The restructuring…

31 Oct 2001

Keppel FELS In Azerbaijan

Keppel FELS, a member of the Keppel Group, has successfully established a foothold in Azerbaijan through its joint venture yard, Caspian Shipyard Company. The world leader in the construction of jack-up rigs celebrates the first operating birthday of its rig built in the Caspian Sea. Keppel FELS retraces its trailblazing record as the first Singaporean company to build jack-up rigs there. “This is not business as usual, but it’s our business. We conduct it with a ‘can do’ attitude…. “Caspian Shipyard Company has established an industry capability that will have long term benefits to the country and the Caspian Region… It is the industry expectation that Caspian Shipyard will continue on to become a strong regional player…

09 Sep 2003

"Ink" It In: WMTC a Must for Maritime Professionals

Mirroring the metamorphosis of the globalization of the marine industry and seeking to stake a leadership claim atop the marine technology information heap, the World Maritime Technology Conference & Exposition will bring together the world, both literally and figuratively, in San Francisco in late October. Set in historic San Francisco and scheduled for October 17-20, this meeting is being hosted by the Society of Naval Architects and Marine Engineers (SNAME) but as the "World" in its title belies, includes participation from around the globe, tapping the expertise of professional marine technical organizations from 11 countries. "This is the largest assembly of 'who's who' in naval architecture, marine engineering and ship production that we have ever had," said Admiral Robert E.

22 Dec 2003

FELS Setal Clinches $775M Contract

The consortium of FELS Setal SA, a subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M) in Brazil, and Technip Engenharia S/A (Technip), an affiliate of Technip S.A., has been awarded the P-52 contract from Petrobras Netherlands BV (PNBV). The signing ceremony of the US$775 million contract to build the semi-submersible production platform was witnessed by Brazil’s President Luiz Inácio Lula da Silva in the presence of more than 1000 guests at FELS Setal’s Brasfels Yard. Delivery of the floating production unit is due in 41 months for possible deployment in the Roncador field, a deepwater location of the Campos Basin, off the north coast of the State of Rio de Janeiro, Brazil.

12 Mar 2002

Keppel FELS Delivers Rig

Keppel FELS Limited, the world leader in the construction of jackup rigs, has successfully designed and built its first KFELS MOD V “B” class ultra premium jackup drilling unit. Built for Chiles Offshore Inc. (AMEX: "COD") (CHILES), Chiles Discovery is the benchmark for a new generation of ultra premium deep-well drilling rigs. Keppel FELS received an early delivery bonus for Chiles Discovery, a testament of its excellent project management and executing capabilities. The company was also awarded bonuses for good safety performance, as well as delivering a rig that exceeds its original design parameters. The Chiles Discovery showcases…

10 Apr 2002

AMFELS Wins $83M Deal

Keppel Corp.'s AMFELS Inc unit in Brownsville, Texas, won a $83 million contract to build a new jack-up rig for Mexican company Perforadora Central S.A. de C.V. Due for delivery in the first quarter of 2004, this rig is the fourth MOD V "B" class ordered in two years. The first "B" class, Chiles Discovery has just been delivered in Singapore. Its sister rig Chiles Galileo, being built in AMFELS for the same owner Chiles Offshore Inc is due in September 2002. The third vessel, Atwood Beacon, is currently under construction in Singapore for Atwood Oceanics Pacific Limited and is expected to be delivered in June 2003. "This new generation rig looks set to become the rig of choice to replace the aging jack-up rigs that have been built in the 70/80s when they retire.

23 Apr 2002

Keppel Corp. Units Win $46M in Contracts

million from repeat customers. The $23 million contracts for the upgrading and repair of jack-ups, Ensco 51 and Ensco 54 are from ENSCO Offshore Company (ENSCO), with whom Keppel has built two jack-ups in the last four years and carried out numerous repairs. Middle-Eastern client. ENSCO for repairs and new construction. ability to respond swiftly to their needs and to help them solve complex problems in good time. contracts between the two companies. contractors in the world. months. Both vessels are repaired in Singapore and will be re-deployed in the Asia Pacific region. construction and delivery of two gas compression modules for Dresser Rand. vessel which was completed one month ahead of schedule. quarter of 2003. capacity of a safety vessel for offshore drilling and workover rigs.

31 Jul 2000

Shipyards Hold “Informal” Merger Talks

Keppel Hitachi Zosen reportedly had informal merger discussions with rival SembCorp Marine today. "...we have had informal discussions with SembCorp Marine but we have not come to grips with any hard figures yet," chairman designate of Keppel Hitachi Choo Chiau Beng said following the shipyard's half year results. Singapore is estimated to have an excess shipyard capacity of 20 percent, mostly from the new floating docks commissioned in the last five years. He said Keppel Hitachi might look to sell its excess capacity including its Philippines shipyard, to improve profitability. As for Keppel's rig building arm Keppel FELS, it is targeting to achieve 12 percent return on equity by 2003.

01 Jul 2002

Keppel Shipyard Named SBM's Preferred Yard in FPSO conversions

Keppel Shipyard, the wholly owned subsidiary of Keppel Corporation Limited (KCL) through Keppel Offshore & Marine Ltd (Keppel O&M), has been chosen as the preferred shipyard in the Far East for the conversion of Floating Production Storage and Offloading facilities (FPSOs) for Single Buoy Moorings Inc (SBM). This follows SBM’s satisfaction with Keppel’s performance and safety record in the two FPSO conversions for them in 2000. This was disclosed by Mr Choo Chiau Beng Executive Director of KCL and Chairman & CEO of Keppel O&M, at a ceremony to celebrate the successful completion of an FPSO for SBM, the owner and operator of the largest fleet of FPSO/FSOs. At the ceremony at Keppel Shipyard on June 28, 2002, the FPSO was named FPSO Falcon.

02 Aug 2007

Keppel Opens Nantong Shipyard

Unveiling the sculpture, Soaring with the Can Do spirit, to commemorate the inauguration of Keppel Nantong Shipyard are Mr Luo Yi Min, Party Secretary of Communist Party of China (CPC) Nantong Committee and Mr Lim Chee Onn, Executive Chairman of Keppel Corporation. Keppel Offshore & Marine Limited (Keppel O&M) has officially opened its new wholly-owned subsidiary, Keppel Nantong Shipyard Co. Ltd (Keppel Nantong), in Nantong, Jiangsu province, China. Min, Party Secretary of Communist Party of China (CPC) Nantong Committee, graced the occasion as the Guest-of-Honour, joined by more than 300 guests. The ceremony was landmarked by the sale of two 45-tonne Azimuth Stern Drive tugboats to Kuwaiti owner, Arabian Gulf Mechanical Services & Contracting (AGMS).

29 Oct 2007

Keppel Delivers Sea Cheyenne for Gulfmark

Keppel Singmarine Pte Ltd (Keppel Singmarine), a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), has delivered an Anchor Handling Tug/Supply (AHTS) vessel to Gulfmark Offshore Inc (Gulfmark) on schedule. The 140-ton bollard pull vessel was christened Sea Cheyenne by Rex Carroll Ross, wife of Rex Ross, Director of Gulfmark Offshore, at a naming ceremony on October 27, 2007. This is the third of eight vessels which Keppel Singmarine is building for the company since 2003. The design of the vessels is developed by Marine Technology Development (MTD), the ship design and development arm of Keppel O&M. Gene Leech, Executive Vice-President of Gulfmark Offshore, said, “Keppel Singmarine has once again delivered their vessel to us on time and to our full satisfaction.

29 Oct 2007

Keppel Delivers Sea Cheyenne for Gulfmark

Keppel Singmarine Pte Ltd (Keppel Singmarine), a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), has delivered an Anchor Handling Tug/Supply (AHTS) vessel to Gulfmark Offshore Inc (Gulfmark) on schedule. The 140-ton bollard pull vessel was christened Sea Cheyenne by Rex Carroll Ross, wife of Rex Ross, Director of Gulfmark Offshore, at a naming ceremony on October 27, 2007. This is the third of eight vessels which Keppel Singmarine is building for the company since 2003. The design of the vessels is developed by Marine Technology Development (MTD), the ship design and development arm of Keppel O&M. Gene Leech, Executive Vice-President of Gulfmark Offshore, said, “Keppel Singmarine has once again delivered their vessel to us on time and to our full satisfaction.