Keppel's Senior Executive Director to Retire
Keppel Corporation Limited announced that Teo Soon Hoe, Senior Executive Director, Keppel Corporation will retire June 1, 2014. Teo will step down as Chairman of Keppel Telecommunications & Transportation Ltd (Keppel T&T) and non-independent director of Keppel Infrastructure Fund Management Pte Ltd (KIFM), Trustee Manager of Keppel Infrastructure Trust, with effect from the same date. Teo will continue to represent Keppel Corporation as its nominee director on the boards of Tianjin Eco-city companies, and k1 Ventures Limited. Further, Keppel Land Limited (Keppel Land) and Keppel T&T have appointed him as Senior Advisor to their respective boards and he will also continue to represent Keppel T&T as its nominee director on the board of M1 Limited.
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.
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.
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.
