Ho Ching News

Keppel FELS Limited (Keppel FELS) is on track to deliver ENSCO 8503, the fourth of seven ENSCO 8500 Series semisubmersible drilling rigs being built exclusively for Ensco plc (NYSE: ESV). ENSCO 8503 is scheduled to commence a two-year primary term with Cobalt International Energy, L.P. in the Gulf of Mexico in early 2011. The rig was named at Keppel FELS by Lady Sponsor, Cynthia Bryant, spouse of Joseph H. Bryant, Chairman & CEO of Cobalt International Energy, L.P., in the presence of Guest of Honor, Ho Ching, Executive Director & CEO of Temasek Holdings Pte Ltd. Daniel W.

The AP has reported that the Peninsular and Oriental Steam Navigation Co. said it has agreed to a $6.3 billion offer from Singapore port operator PSA International -- a switch of alliances that is likely to spark a bidding war for the 165-year-old British maritime icon. The approach from PSA trumped a 3.3 billion pound ($5.9 billion) cash offer from government-owned Dubai Ports World that P&O agreed to in November. P&O Chairman John Parker noted that the 470 pence ($8.40) per share offer from PSA, which would make the combined company the world's largest ports operator, was a 6 percent premium on the 443 pence ($7.91) offered by DP World. Shares in P&O were trading above both offers Thursday, up 1.8 percent at 516.25 pence ($9.22).