ACROSS BORDERS THE HIGH LIFE - Keppel Land
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ACROSSBORDERS
A KEPPEL LAND PUBLICATION
3RD QUARTER 2014 MCI (P) 006/03/2014
THE HIGH LIFE
HIGHLIGHTS 04 Deal for Marina Bay Financial Centre Tower 3 07 BITING INTO THE BIG APPLE 15 Leading green developer
THIS ISSUE
19
As part of its commitment to engage and promote green practices among tenants, Keppel Land
and Keppel REIT have partnered Royal Philips (Philips) to offer tenants a solution to replace
existing lightings in its office premises on a zero capital expenditure scheme. Four tenants from
Bugis Junction Towers and Keppel Bay Tower have also formalised their interest in this initiative
with the signing of a memorandum of understanding with Philips on 9 September 2014
Sustaining Growth In Focus
04 Deal for Marina Bay 15 Leading green developer
Financial Centre Tower 3
06 Raising stakes in The Estella Empowering Lives
07 Biting into the Big Apple 22 Engaging staff
08 Divesting stake in Surabaya retail mall Leading HR practices
23 Gaining insights
09 Launch of China retail fund
Celebrations abound
10 Positive take-up at Highline Residences
24 World of opportunities
11 Boosting bilateral relations
12 Progress momentum in Tianjin Eco-City Nurturing Communities
14 Strong strides in sustainability 26 Helping hands
19 Winning partnerships 27 Cooking up a storm
20 Double wins at FIABCI 28 Supporting the arts
Creative win 30 Giving back
21 Inculcating a safe mindset Seeding green behaviour
Our Accolades:
Most Sustainable Corporations in the World
Published for Keppel Land by the Cover image: Keppel Land’s latest residential project in Tiong Bahru, Highline Residences, has received positive response,
Group Corporate Communications division of with more than a quarter of the 500 units sold during a closed-door sale held on 13 and 14 September 2014.
Keppel Corporation Limited,
1 HarbourFront Avenue, #18-01, Keppel Bay Tower, We believe all information in this newsletter to be current at the time of printing. Unless otherwise stated, all currencies are expressed in
Singapore 098632. Singapore dollars. No material contained in this publication should be reproduced without obtaining prior written permission from the
Group Corporate Communications department.
We also welcome your feedback and suggestions for improvements to our newsletter. You can reach us at keppelgroup@kepcorp.com.
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Blk 1002, Redhill Industrial Estate, Jalan Bukit Merah, Should you wish to be included in our mailing list, please email Marketing at marketing@keppelland.com
#03-12, Singapore 159456. An online version is also available at keppelland.com
04 Sustaining Growth 3Q/14
Deal for Marina Bay
Financial Centre Tower 3
Keppel Land, through its of 195,000,000 new Units at the issue and comprises three premium
wholly-owned subsidiary, Bayfront price of $1.17, (iii) part of the sales Grade A office buildings, luxury
Development Pte Ltd, has entered proceeds from the divestment apartments and a subterranean
into a conditional share purchase of the 16-year old Prudential Tower, retail mall.
agreement with RBC Investor Services and (iv) additional borrowings.
Trust Singapore Limited as trustee of Ms Ng Hsueh Ling, CEO of the
Keppel REIT, for the sale of its MBFC Tower 3 is a 46-storey Grade A Manager, said, “Singapore, supported
one-third shareholding interest in office tower with ancillary retail space. by positive economic fundamentals,
Marina Bay Financial Centre Tower 3 The office tower is part of continues to be a sought-after
(MBFC Tower 3) to Keppel REIT. Marina Bay Financial Centre, destination for businesses and
a landmark integrated development multinational corporations seeking to
The agreed value for the property is with a prime waterfront address at deepen and expand their presence in
$1,248 million or $2,790 psf, inclusive Singapore’s new financial district, the fast-growing Asian region.
of a five-year rental support of up to
an aggregate amount of $49.2 million. Keppel REIT's latest acquisition of
The agreed value is in line with Marina Bay Financial Centre Tower 3 will
strengthen its position as the leading landlord in
Keppel Land’s independent valuation
Singapore's Central Business District
by Colliers of $1,245 million as
at 28 August 2014, as well as
Keppel REIT’s independent
valuations by Cushman and Savills
of $1,281 million and $1,276 million
respectively as at 18 August 2014.
Mr Ang Wee Gee, CEO of Keppel Land,
said, “Over the course of the year, we
have seized opportunities to unlock
value in our portfolio and redeploy
our capital to deepen presence in
our core markets and opportunistically
enter into new ones. The timely
divestment of MBFC Tower 3 will
further strengthen Keppel Land's
financial position and also enable us
to pursue opportunities in new
commercial developments.“
The purchase consideration,
which was negotiated on a
willing-buyer and willing-seller basis,
has been reached at $710.1 million
(subject to completion and
post-completion adjustments).
Keppel REIT Management, the
Manager of Keppel REIT, intends
to fund the acquisition of the
two-year-old MBFC Tower 3 with
(i) part payment by way of issuing
Keppel REIT Units to Keppel Land,
(ii) net proceeds from the placement
3Q/14 Sustaining Growth 05
KEY PROPERTY INFORMATION
Description 46- storey premium Grade A commercial
building with ancillary retail space
Total Net Lettable Area (NLA) 1,341,980 sq ft
No. Of Tenants [1] 49
Principal Tenants [1] DBS Bank, WongPartnership, Rio Tinto,
McGraw-Hill, Booking.com,
Mead Johnson and Lego
No. Of Car Park Lots 357
Tenure 99 years commencing from March 2007
Building Age Two years
Occupancy [1] Approximately 94%
Weighted Average 7.0 years
Lease Expiry (By NLA) [1]
[1] As at 31 August 2014
“MBFC Tower 3, with its excellent approximately 43.8%. Approximately refinancing minimises refinancing risk
location and premium office building 93% of Keppel REIT's Singapore for the next 12 to 18 months providing
specifications, will be a strategic portfolio will be located within the comfort at this rating level.“
addition to Keppel REIT’s portfolio. prime Raffles Place and Marina Bay
The acquisition of MBFC Tower 3 and financial precincts. Moody's stable outlook on Keppel REIT
the divestment of Prudential Tower will reflects the trust's ability to continue
enhance and transform Keppel REIT’s Following Keppel REIT's to generate stable cash flows from its
portfolio in terms of age and quality announcement of the proposed portfolio, driven by steady occupancy
of assets, as well as improve the acquisition, rating agency Moody's levels and positive rental reversions.
portfolio property fundamentals to issued a report that it expects
ensure long-term sustainable income MBFC Tower 3 to “improve the quality The outlook also incorporates
to Unitholders.” of the trust's property portfolio and the rating agency's expectation for
enhance income diversification.” Keppel REIT to maintain its financial
The transaction will yield for Keppel Land Moody's has also reiterated that the discipline when pursuing growth
a net divestment gain of about acquisition has no immediate impact and to keep its credit profile within
$95.5 million upon completion, derived on Keppel REIT's rating of Baa2 targeted parameters.
after deducting the book value of the with stable outlook.
investment and excluding gain arising Mr Ang added, “We are also on track to
from Keppel Land's 44.93% effective Mr Alan Greene, Vice President and grow our fund management business.
interest in Keppel REIT. Senior Credit Officer of Moody's, said, The addition of MBFC Tower 3
“We expect Keppel REIT will reap the will increase Keppel REIT’s assets
On a pro forma basis, had the benefit of having greater pricing power under management to over $8.1 billion,
divestment been effected on as we expect that the occupancy entrenching its position as the
31 December 2013, Keppel Land's net rate at core CBD area to continue to leading landlord of premium Grade A
tangible assets per share would have improve on the back of tight supply buildings in the Raffles Place and
increased from $4.52 to $4.58. over the next 12 to18 months. Marina Bay precincts.”
The Company’s gearing ratio “While we foresee this acquisition as The acquisition, consideration Units
would improve from 38.3% as at adding slightly to the trust's leverage, to be issued to Keppel Land as well
31 December 2013 to about 29.1% we expect the leverage ratio to remain as the whitewash resolution are
post divestment. Post-acquisition, under 45%. Furthermore, Keppel REIT's subject to the approval of Unitholders
Keppel REIT is expected to have strong interest coverage of over four of Keppel REIT at an extraordinary
an aggregate leverage ratio of times and its proven proactive debt general meeting.
ACROSS BORDERS
06 Sustaining Growth 3Q/14
Raising stakes in The Estella
Keppel Land, through its wholly-owned to homebuyers, except for four improving infrastructure and declining
subsidiary, Keppel Land Estate Pte. Ltd, penthouse units which were recently interest rates will also support demand
has entered into a conditional released for sale. for housing.
share purchase agreement with its
Vietnamese partner, Tien Phuoc, for Mr Linson Lim, President (Vietnam), “We are confident that the subsequent
the acquisition of an additional 43% Keppel Land, said, “Keppel Land has phases of the development will
effective stake in The Estella Phases been growing with Vietnam since the enjoy the same positive demand
Two and Three held by Tien Phuoc in 1990s and is one of the pioneer real from homebuyers and investors
the Estella Joint Venture Company estate developers in the country. seeking quality properties with strong
Limited (Estella Joint Venture). The acquisition of Phases Two attributes and value offerings.”
and Three in The Estella reflects
The Company currently holds a 55% Keppel Land’s long-term commitment The Estella is a 15-minute drive to
stake in Estella Joint Venture. Upon to contribute to the sustainable HCMC’s central business district (CBD)
completion of the transaction scheduled urbanisation of Vietnam with our via the East-West Highway and
in end-2014, Keppel Land will hold a quality portfolio of properties.” Thu Thiem Tunnel. Families with
total of 98% interest in Phases Two school-going children will appreciate
and Three of the development. Phase Two, targeted for launch in early the site’s close proximity to reputable
2015, is expected to yield more than international schools such as the British
The Estella is a residential 500 homes ranging between 60 sm to International School, International
development comprising more 180 sm, including penthouses. School of HCMC-American Academy,
than 1,500 apartments with a retail European International School and
component located in the popular An Mr Lim added, “We remain confident Australian International School.
Phu Ward, District 2, Ho Chi Minh City in the long-term growth potential
(HCMC), Vietnam. Phase One of The of Vietnam's property market. It has The Estella is also located close to the
Estella has been completed. a young and dynamic population future metro station which will open in
and a growing middle-class with 2018 and which will connect residents
It comprises 719 units which have strong aspirations for home ownership. seamlessly from the CBD to District 9
been fully sold and handed over The city's high urbanisation rate, of the city.
Capitalising on the market recovery in Vietnam,
Keppel Land has raised its stake in The Estella
Phases Two and Three from 55% to 98%
3Q/14 Sustaining Growth 07
Future residents can look forward to the
panoramic views of Manhattan’s city skyline
when they move into Keppel Land’s first
residential development in the United States
Biting into the Big Apple
Keppel Land has made its maiden top developers and will be able to Future residents can also look
investment in the United States (US) tap on Macklowe’s deep insights, forward to the diverse range of
with a prime residential development rich experience and keen knowledge amenities and entertainment options
in New York City. Keppel Land’s total of the local market. With this prime around Midtown Manhattan. It is just
investment in the project is about property, we hope to meet the blocks from Central Park, New York’s
US$70 million. demand for well-located quality homes national historic landmark, and is
in one of the world’s leading business near numerous luxury designer and
Located on the Upper East Side in and financial capitals. fashion boutiques such as the
Manhattan, the property will also flagship outlet of high-end
have a retail component. It will be “Keppel Land will continue to department store, Bloomingdales.
developed by Macklowe Properties invest opportunistically in key global
(Macklowe), an established New York cities with good growth potential, The residential market in Manhattan
real estate developer whose while remaining focused on Asia, remains strong. According to
quality portfolio in the city includes with Singapore and China as our a 2Q 2014 report by Douglas Elliman
the Metropolitan Tower, a luxury core markets.” Real Estate, Manhattan faces a low
residential development, as well as inventory for condominiums. Listing
432 Park Avenue, the tallest residential The property is located in an inventory fell to a 14-year low of
building in the western hemisphere. established residential neighbourhood 4,164 units in 4Q 2013 but rose by
in Manhattan, on the boundary of 18% year-on-year (y-o-y) to 5,659
The investment will be managed by Upper East Side and Midtown East. in the second quarter this year,
the Company’s fund management It is conveniently located within which is still considered low for a
subsidiary, Alpha Investment Partners. walking distance to the subway station highly competitive market. Monthly
on Lexington Avenue and 59th Street, absorption rate edged 0.5 months
Mr Ang Wee Gee, CEO of Keppel Land, and is a five-minute walk from office y-o-y to 5.1 months in 2Q 2014, well
said, “For our first investment in the US, developments such as the Citigroup below the 8.4 months average of the
we are partnering one of New York’s Building and the Metlife Building. past decade.
ACROSS BORDERS
08 Sustaining Growth 3Q/14
Divesting stake in
Surabaya retail mall
Keppel Land, through its wholly- The retail mall is currently about continue to drive demand for quality
owned subsidiary, PT Keppel Land, 95% occupied with anchor tenants homes and investment-grade offices in
has entered into an agreement to such as Carrefour hypermarket, the country.”
sell its 80% effective shareholding Cahaya Departmental Store and
in BG Junction, a strata-titled retail Hartono Electronic. Keppel Land’s portfolio of projects
development in Surabaya, Indonesia, in Indonesia includes International
to Silverise Enterprise Ltd and Mr Sam Moon Thong, President Financial Centre Jakarta (IFC), located
PT Pelangi Arjuna, for approximately (Indonesia) of Keppel Land, said, on a prime site along Jalan Jendral
Rp 400 billion (S$42.8 million). “We constantly review our portfolio to Sudirman in Jakarta’s Central Business
Silverise Enterprise Ltd currently owns maximise returns and redeploy capital District, a three-hectare residential
a 20% stake in the retail development. to new projects. Indonesia remains site in West Jakarta acquired earlier
The sale is expected to result in an one of Keppel Land’s key growth this year, as well as Ria Bintan, an
after-tax profit of about S$12.5 million markets, where we are focused on integrated resort comprising hotels
for Keppel Land. the Greater Jakarta region. and championship golf courses.
Located near the Central Business “The medium to long term market Keppel Land is currently developing
District in Jalan Bubutan, BG Junction outlook for Indonesia remains positive, Tower 2 of IFC, a 48-storey Grade A
comprises a six-storey retail mall with a supported by a large population office building. When completed in the
net floor area of about 47,000 sm and base, an expanding middle class and second half of 2015, Tower 2 will offer
an adjoining multi-storey car park. increasing urbanisation, which will about 50,000 sm of net lettable area.
Keppel Land has entered into an agreement to
sell its 80% shareholding in BG Junction,
a six-storey retail mall in Surabaya, Indonesia
3Q/14 Sustaining Growth 09
Launch of China retail fund
In an exclusive interview with PERE, a publication dedicated to the world's private real
estate markets, MD of Alpha Investment Partners (Alpha), Ms Christina Tan, shares the
company’s plan to launch a fund focused on the Chinese retail sector by end-2014.
Across Borders reproduces extracts of the interview.
Keppel Land’s fund management Even though there is an oversupply of Chongbang will need to work to
arm, Alpha, is looking to launch an retail space in China, Ms Tan believes differentiate their malls.
$800 million evergreen fund focused that a good partner in China is
on the Chinese retail sector, especially essential because Chinese developers E-commerce tends to target the lower
in the Yangtze River Delta region. that understand what shoppers need price range market, so successful malls
are few and far between. need to target the middle class. Services
According to Ms Tan, it is in talks with like entertainment, dining, cinema and
existing investors about forming a For now, Alpha is opening the luxury lifestyle cannot be filled by the
property fund to capture opportunities fund to only a handful of its current e-commerce industry, and these are
in the market. international investors that intend the kind of tenants that Alpha will
to keep the assets for the longer be seeking.
This follows the success of Alpha and its term. Alpha will also explore
co-investors’ combined 80% investment making the fund open-ended to With $10.5 billion in funds under
in Life Hub @ Jinqiao in February 2013, allow investors to further add management, Alpha manages both
which has outperformed the firm’s capital at a later stage. core-plus and value-added funds.
underwriting by 11. Most recently, Alpha divested
“There are a number that have been J6 Front, an eight-storey
The property fund would be set up as investing in the China retail sector office-cum-retail building in Tokyo
a joint venture with Chongbang, its with us already and have seen how for its $1.18 billion Alpha Asia Macro
partner for Life Hub @ Jinqiao. the sector is trending,” Ms Tan said. Trends Fund (AAMTF) I, and made a
Ms Tan shared that Chongbang has The vehicle will involve a mixture $550 million exit out of Equity Plaza
also had success with multiple other of development and repositioning in Singapore for one of its core-plus
malls in Shanghai. investments to prepare for funds at a six times equity multiple.
long-term hold, targeting
She shared, “Chongbang has done core-plus returns overall. Last July, Alpha hauled $1.65 billion
well for itself and has been invited by for follow-on fund AAMTF II, which is
the government to consider other sites In order to meet the growing already more than one-third invested.
for redevelopment. That will help us to competition from e-commerce, Source: PERE, “AIP eyes launch of $800m China retail
get the land at a reasonable price.” Ms Tan also shared that Alpha and fund” by Michelle Phillips, 24 July 2014
Following their partnership for Life Hub @ Jinqiao
(in photo), Alpha and Chongbang will once again
be collaborating to set up a fund focused on
Chinese retail by end-2014 ACROSS BORDERS
10 Sustaining Growth 3Q/14
Positive take-up at
Highline Residences
Homebuyers have picked up future Havelock MRT stations, the rooftop communal garden facility.
more than a quarter of the development is less than a Those looking to entertain can do so
the total 500 units DURING 10-minute drive from Orchard Road, at one of the two rooftop function
A CLOSED-DOOR SALE the Central Business District and the rooms, which offer stunning panoramic
integrated resorts at Marina Bay views of the city, or in the spacious
and Sentosa Island. comfort of their own homes that have
Keppel Land has received positive high ceilings of up to 3.2 metres.
response for its latest residential Designed by award-winning architect
development in Singapore, Mok Wei Wei of W Architects, Residents can also look forward
Highline Residences. More than Highline Residences comprises 500 to privileged membership and
80% of the 160 released units were units spread across three residential personalised concierge services,
sold at an average price of close to towers and four low-rise blocks. including limousine and housekeeping
$1,900 psf during a closed-door sale Unit sizes range from one- to four- services, as well as complimentary
for registered prospects held on bedroom units, as well as penthouses. golfing at the award-winning
13 and 14 September 2014. Private Ria Bintan Golf Club.
previews had been held earlier Inspired by New York City’s High Line,
for registered prospects over the a public park built on a historic One of the first public housing
preceding two weekends. elevated rail line, Highline Residences estates in Singapore, Tiong Bahru is
features an elevated green ridge steeped in history and culture. Today,
Situated along Kim Tian Road, spanning 180 metres, which boasts it is a trendy neighbourhood where
Highline Residences is the first new recreational and communal facilities. the historic and modern co-exist
private housing to be launched in seamlessly, home to new food and
Tiong Bahru in seven years. A short Green-thumbed residents will enjoy lifestyle outlets that share shop fronts
stroll from the Tiong Bahru and growing herbs, spices and fruits at with stalwarts established in the 1940s.
More than a quarter of the 500 total units at
Highline Residences have been sold following a
closed-door sale for registered prospects held
over one weekend on 13 and 14 September 20143Q/14 Sustaining Growth 11
Boosting bilateral relations
Keppel hosted Chinese delegations
in Singapore and China in an effort to
continue strengthening ties between
both nations .
SINGAPORE
As part of the annual Global Green
Economic Forum, Keppel Land
hosted a group of eco-business
delegates from China to showcase its
green waterfront developments on
4 September 2014.
The delegates were introduced to (From left to right) Mr Xie Zhongfan, Executive Vice Mayor of Zhongshan Municipal Government;
Keppel Bay in Singapore, where Mr Xue Xiaofeng, Secretary of CPC Zhongshan Municipal Committee; Mr Edmund Ho Hau Wah,
Vice Chairman of the 12th CPPCC and former Chief Executive of Macau; Mr Liao Jingshan, Director of the
they toured the award-winning Hong Kong and Macau Affairs Office of Guangdong Provincial People’s Government; Mr Lin Xiquan,
Marina at Keppel Bay, as well Secretary of the CPC Zhongshan Shenwan Town Committee, visited the Keppel Cove project site
as the show gallery of Keppel Land’s
latest residential development,
Corals at Keppel Bay.
ZHONGSHAN
On the same day, Mr Edmund Ho
Hau Wah, Vice Chairman of the
12th Chinese People's Political
Consultative Conference (CPPCC)
and former Chief Executive of Macau,
visited Keppel Cove, Keppel Land’s
integrated residential-cum-marina
lifestyle development in Shenwan
Town, Zhongshan, Guangdong
Province, China. Mr Ho was
accompanied by Mr Liao Jingshan,
Director of the Hong Kong and Mr Chua Kay Chuan (centre, with microphone), Deputy CEO of SSTEC, briefed the APS delegation on
Macau Affairs Office of Guangdong the Tianjin Eco-City during a visit on 11 September 2014 (Source of photograph: SSTEC)
Provincial Government.
Located on MoDao Island in Shenwan a Singapore-based boutique fund
Receiving the visitors were Simon Goh, Town, Keppel Cove will comprise 250 management firm.
Assistant GM (Zhongshan), Keppel landed homes with private berths and
Land China, and municipal leaders 158 berths for the yachting community. After being briefed on the Sino-Singapore
including Mr Xue Xiaofeng, Secretary Some 42 villas of the development’s first Tianjin Eco-City (Tianjin Eco-City)
of the Communist Party of China (CPC) phase will be launched in 2015. project, the delegation visited the
Zhongshan Municipal Committee and Eco-Valley, Low-Carbon Living Lab,
Mr Xie Zhongfan, Executive Vice Mayor TIANJIN No. 3 Neighbourhood Centre, Qing Jing
of Zhongshan Municipal Government. Lake, Hua Qiang Fantawild Adventure
On 11 September 2014, Theme Park, as well as the Eco-City
The Shenwan officials explained how Sino-Singapore Tianjin Eco-City International Country Club. SSTEC,
they intend to leverage the town’s Investment and Development Co., Ltd. a 50-50 joint venture formed by a
geographical advantage to develop it (SSTEC) hosted a 34-strong delegation Keppel-led Singapore consortium and
into an international tourist destination led by Mr Wong Kok Hoi, Founder and a Chinese consortium, is the master
anchored on yachting. CIO of APS Asset Management Ptd Ltd, developer of the Tianjin Eco-City.
ACROSS BORDERS12 Sustaining Growth 3Q/14
SSTEC welcomes General Motor’s EN-V 2.0
zero-emission Electric Networked-Vehicles into the
Tianjin Eco-City (Photograph courtesy of SSTEC)
Progress momentum in Tianjin Eco-City
The Sino-Singapore Tianjin Eco-City Chevrolet EN-V 2.0 and its team into Networked-Vehicle, and look forward
(Tianjin Eco-City), the landmark the Tianjin Eco-City. to further expanding our cooperation
bilateral project between Singapore with GM in future.”
and China, is progressing steadily This is a three-way collaboration
in establishing itself as a thought- between SSTEC, GM and the CROSS-BORDER RMB DEALS
leader in developing green solutions, Sino-Singapore Tianjin Eco-City
as well as a vibrant model satellite Administrative Committee (ECAC), Separately, companies in the
city and an exemplary city of and marks the start of a demonstration Tianjin Eco-City can now diversify
economic dynamism. project aimed at studying the usage of their funding sources to better
low-speed, green transportation tools meet their financing needs under an
Due to its strong track record in for daily commuting. initiative announced by the People’s
China and elsewhere in the world, Bank of China Tianjin branch on
as well as its distinct blend of core The Chevrolet EN-V 2.0 will be 9 July 2014.
competencies, the Keppel Group deployed in the Eco-Business Park and
was entrusted to lead the Singapore the National Animation Industry Park The initiative allows eligible
consortium for the Tianjin Eco-City, while GM’s team will operate out of companies and individuals in
and works closely with its Chinese the Eco-Business Park. the Tianjin Eco-City to conduct
consortium partner to guide the 50-50 cross-border Renminbi transactions
joint venture, Sino-Singapore Tianjin Said Mr Ho Tong Yen, CEO of SSTEC, with Singapore.
Eco-City Investment and Development “We are very pleased to work
Co., Ltd. (SSTEC) with GM and ECAC to explore The initiative is an added dimension
green solutions to urban to the many areas of cooperation
GREEN WHEELS transportation challenges. between Singapore and China in
the Tianjin Eco-City that include
On 19 June 2014, SSTEC welcomed “We welcome GM’s decision to use urban planning, environmental
General Motors’ (GM) zero-emission the Tianjin Eco-City for the testing and protection, green buildings and
Electric Networked-Vehicles – demonstration of their new Electric public housing.3Q/14 Sustaining Growth 13
NEW PARTNERSHIPS
New projects were signed at It is also expected to complement In addition, SSTEC signed an
the seventh Singapore-Tianjin Keppel O&M’s existing engineering MOU with Tianjin Eco-City Green
Economic and Trade Council (STETC) office located in Shenzhen, Guangdong. Building Research Institute (GBRI) to
meeting, co-chaired by Singapore’s undertake research in the areas of
Minister for National Development, SSTEC also signed four agreements at green building management, green
Mr Khaw Boon Wan and the STETC meeting which saw more building technology and sustainable
Tianjin Mayor, Mr Huang Xingguo companies establishing a presence urbanisation.
on 30 July 2014. The projects there. The first agreement is with
spanned environmental, education education provider Ivy Group (Ivy), On the sidelines of the meeting,
and logistics services sectors. which will see Ivy leasing a second Keppel Group showcased its presence
school building to expand its presence in Tianjin and the rest of China at an
Keppel Offshore & Marine Technology in Tianjin Eco-City. exhibition of Singapore companies
Centre (KOMtech), the design and investing in Tianjin.
engineering arm of Keppel Offshore & SSTEC also signed an agreement with
Marine (Keppel O&M), signed a Dynamiker Biotechnology (Tianjin), Having ventured into China since
Memorandum of Understanding which will set up an office and a the 1980s, Keppel has expanded its
(MOU) with the ECAC to set up an research & development (R&D) facility presence into 23 Chinese cities to
engineering and technology foresight in the Eco-Business Park. meet China’s urbanisation needs with
unit in the Tianjin Eco-City. sustainable solutions.
The third agreement is between
The unit will carry out engineering SSTEC and Allied Gain Holding
work to support Keppel O&M’s Group Ltd (Allied Gain). Allied Gain,
projects in Singapore, monitor the which engages in a wide range of
development needs and trends in business activities, will invest in the
the offshore and marine industry, development of their company’s
and engage in technology foresight headquarters and an R&D centre in
research work. the Eco-Business Park.
(Front row) Keppel Corporation's Chief Representative (China), Mr Goh Toh Sim (left), and Vice Chairman of ECAC, Mr Yang Zhize (right), signed the MOU
between KOMtech and ECAC for an engineering and technology foresight unit in the Tianjin Eco-City. The ceremony was witnessed by (back row, from left)
Singapore’s Minister for National Development Khaw Boon Wan, Tianjin Mayor Huang Xingguo, Tianjin Binhai New Area Party Secretary Yuan Tongli and
Tianjin Vice-Mayor Ren Xuefeng (Photograph courtesy of SSTEC)
ACROSS BORDERS14 Sustaining Growth 3Q/14
Strong strides in sustainability
The Keppel Land Group has consistently demonstrated
strong commitment and drive towards sustainability, and
has made strong strides in recent months.
SUSTAINABILITY REPORT
KEPPEL LAND LIMITED
Keppel Land’s 2013 Sustainability
Report, published in June 2014,
is in accordance with Global Reporting
Initiative (GRI)’s latest G4 guidelines.
CONFIGURED The Company is the first in Asia to
FOR GROWTH report at a ‘Comprehensive’ level. which consists of large and mid-cap
Sustainability Report 2013 developed market companies.
CONFIGURED FOR GROWTH
The report focuses on material issues
that have been identified through REGIONAL LEADER
consultations with both internal and
Sustainability Report 2013
external stakeholders. These include Keppel REIT has ranked first and
economic performance, health and is named the Regional Leader for
safety, compliance, environmental Office Sector (Large Cap) in Asia in
impact, labour practices and social the Global Real Estate Sustainability
responsibility. Benchmark (GRESB) 2014. This is the
first year that Keppel REIT has been
The report has been assured externally assessed and ranked against real
by independent third parties in estate industry players worldwide.
accordance with GRI guidelines,
the AA1000 Assurance Standard on The annual survey, which saw
Keppel Land released its 2013 Assurance Engagements 3000 participation from 637 entities,
Sustainability Report in June 2014 (ISAE 3000). saw Keppel REIT emerge among the
top three across all entities and sectors
The Company also released a in Asia, as well as the top 5% in the
Chinese version of its annual and same sectors globally.
sustainability reports, available at
www.keppelland.com. Ms Ng Hsueh Ling, CEO of
Keppel REIT, said, “Beyond
INTERNATIONAL INDICES accolades, the recognition by
GRESB is a reflection of our
Keppel Land has retained its position commitment to continually shape
in the Dow Jones Sustainability the future by improving our
World and Asia Pacific Indices 2014 business operations and efficiencies,
for the fourth and fifth consecutive positioning ourselves as the employer
year respectively. of choice and positively impacting the
lives of those around us.”
In addition, the Company has
retained its position on both the An internationally-recognised
Morgan Stanley Capital International benchmark, GRESB assesses
(MSCI) Global Socially Responsible companies for excellence in
and Sustainability Indices since June integrated organisational approach
2012 and 2013 respectively, and is also towards measurement and
on the MSCI World Environmental, management of environmental key
Social and Governance (ESG) Index performance indicators.In Focus 15
Leading
green developer
For Keppel Land, the month
of September 2014 had been
a busy one as the company
initiated and participated in
a series of meaningful green
activities in conjunction with
THE Singapore Green Building
Week, which was held from
1 to 7 September 2014.
Ocean Financial Centre, with
its iconic green features, was
a showcase as an eco-icon
at the Singapore Green
Building Week
ACROSS BORDERS16 In Focus 3Q/14
GREEN SUPPORTER
Keppel Land and Keppel REIT Mr Lim Tow Fok, Keppel Land's GM of
displayed firm support towards Property Management and Knowledge
greening environments during the Management, was among the
International Green Building Conference distinguished speakers.
held at Marina Bay Sands from
1 to 3 September 2014. Keppel Land In his presentation on engaging
came onboard as a Gold Sponsor, building occupiers on sustainability,
while Keppel REIT participated as one Mr Lim shared that the Company
of the Green Mark Tour Hosts. recognises the need to inculcate a
‘green’ mindset amongst tenants,
Organised by the Building and and has formulated a detailed
Construction Authority of Singapore programme which includes outreach
(BCA), the annual conference activities, talks and bazaars to
serves as a platform for local and promote eco-consciousness.
international industry stakeholders
and the community-at-large to explore The conference also included a series
opportunities and address challenges of tours showcasing Singapore’s
on environmental sustainability for exemplary Green Mark buildings.
the built environment through Ocean Financial Centre, one of
plenary sessions, workshops and Keppel's five BCA Green Mark
tours to leading green developments Platinum buildings, was one
in Singapore. of the destinations.
DRIVING GREEN INNOVATION
In walking the green talk, Keppel Land joins seven other Swee Yiow, President (Singapore)
Keppel Land has pledged its Green Mark Champions on this of Keppel Land, represented the
support for BCA’s Green Buildings initiative, they being Ascendas, Company.
Innovation Cluster. The cluster CapitaLand, City Developments,
serves as the central focal point Housing Development Board, The ceremony was witnessed by
to reinforce the national drive JTC Corporation, Nanyang Guest-of-Honour Mr Lee Yi Shyan,
towards greater energy efficiency Technological University and Senior Minister of State for Ministry
as well as to streamline, coordinate National University of Singapore. of National Development and
and disseminate building energy Ministry of Trade and Industry.
efficiency-related activities. It will The partnership establishment
be a one-stop hub to experiment, ceremony took place at the Keppel Land, together with seven other partners,
exhibit and exchange knowledge International Green Building has pledged its support to BCA’s Green Buildings
of promising building energy Conference during the Innovation Cluster. Representing the Company
at the partnership establishment ceremony was
efficient solutions with industry BCA Breakfast Talk for CEOs on Mr Tan Swee Yiow, President (Singapore) of
stakeholders. 3 September 2014, at which Mr Tan Keppel Land (third from right)3Q/14 In Focus 17
LAUDED FOR EFFORTS
Asia Pacific Regional Network
Leadership Awards
Keppel Land was once again
recognised for its commitment to
sustainability. The Company has
emerged as one of the winners
among a pool of seven finalists in
the inaugural World Green Building
Council Asia Pacific Regional Network
Leadership Awards in Green Building,
under the category of Business
Leadership in Sustainability.
The awards ceremony was held on
3 September 2014 in conjunction
with the Singapore Green Building
Council's fifth anniversary dinner.
Representing Keppel Land at the World Green Building Council Asia Pacific Regional Network Leadership
Mr Tan Swee Yiow, President Awards was Mr Tan Swee Yiow (far right) who received the ‘Business Leadership in Sustainability’ Award
(Singapore) of Keppel Land, received from Guest-Of-Honour Dr Vivian Balakrishnan (second from right), Minister for the Environment and Water
the award on behalf of the Company Resources. Ms Jane Henley (first from left), CEO, World Green Building Council and Er Ng Eng Kiong (second
from Guest-Of-Honour Dr Vivian from left), President, Singapore Green Building Council witnessed the presentation
Balakrishnan, Minister for the
Environment and Water Resources. The Glades at Tanah Merah (pictured) was
among the developments conferred the
LEAF Award by the National Parks Board
The judges commended the
Company’s comprehensive reporting
processes, which include sustainability
key performance indicators for staff.
“Senior management’s commitment
and willingness to engage in greening
the (built environment) is obvious, and
deserving of recognition,” the judges said.
Ocean Financial Centre, developed
by Keppel Land and owned by
Keppel REIT, was also among
the eight finalists in the Leadership
in Sustainable Design and Performance
category. The award celebrates
innovative green building projects that
reduce carbon emissions and other
environmental impacts, while cutting
costs and driving higher levels of health
and productivity for building occupants.
LEAF Awards
Keppel Land’s residential projects,
Highline Residences and The Glades,
have attained the Landscape
Excellence Assessment Framework
(LEAF) certification by the National
Parks Board (NParks).
Continues on page 18 »
ACROSS BORDERS18 In Focus 3Q/14
“Besides engaging and
educating tenants with our
Green Fit-Out and Green WATER EFFICIENT BUILDINGS
Office Operation Guides,
we have formed a Tenants Ocean Financial Centre and certifications. We are encouraged
Go-Green Committee, Prudential Tower have been by this latest accolade and will
awarded the Water Efficient continue our efforts towards a
comprising representatives Building (Silver) certification more sustainable future.”
from our various commercial by the Public Utilities Board.
buildings. Alongside other The certification was Ocean Financial Centre, with its
initiatives which include presented in a ceremony on state-of-the-art energy-efficient
25 September 2014. and environmentally-friendly
complimentary environmental technologies, utilises a myriad
gap analysis for tenants in our Mr Toh Wah San, Senior VP, of sustainable features and
commercial buildings, we aim Asset Management, Keppel REIT, innovative applications, such
shared, “We believe that as harvesting rainwater for the
to raise eco-awareness and resource efficiency is not only our irrigation of rooftop gardens,
encourage more stakeholders responsibility, but also makes good recycling condensate water for
to join us in our green journey.” business sense. Ocean Financial the cooling tower as well as
Centre, as well as all of the other using water-efficient tap fittings,
Mr TAN SWEE YIOW Keppel REIT buildings, bear contributing towards saving
PRESIDENT (SINGAPORE) OF Keppel Land internationally-recognised green 42 million litres of water annually.
» Continued from page 17 Singapore Environmental MAKING A MARK
Achievement Awards
Tenants and visitors will soon be able
Ten winning developments were At the Singapore Environmental to easily identify green buildings with
presented the LEAF certification in a Achievement Awards (SEAA) 2014, the display of the Green Mark plaque
ceremony on 19 August 2014. Tanah Sutera, the joint venture on building entrances, lobbies and
developer of Keppel Land’s integrated atriums of buildings conferred by
Mr Tan said, “We are honoured to township of Taman Sutera in Johor Bahru, the BCA.
have been conferred the LEAF Award swept the Merit Award (Regional)
by NParks for The Glades at for contributions towards environmental Eight building owners and developers,
Tanah Merah and Highline Residences. sustainability. including Keppel Land, received the
This follows the recognition for plaque from Ms Denise Phua,
Corals at Keppel Bay and As a socially responsible developer, Mayor of Central Singapore,
158 Cecil Street – Keppel Land Tanah Sutera introduced District Mayor, at BCA's green
developments which were conferred various green initiatives within building exhibition held at Bugis+
the inaugural awards last year. the township to create and nurture on 5 September 2014.
a sustainable community.
“Greening a development provides The plaque was introduced by BCA
both tangible and intangible value In July 2014, the team at Tanah Sutera to recognise developers’
to a property as it not only improves also celebrated the opening of achievement in building and
energy efficiency, but also enhances Sutera Mall’s Good Earth Centre. operating a sustainable property,
the well-being of our residents with The Centre processes food waste and also to showcase their
better air quality, clean water as well from the mall’s F&B outlets into usable achievement to visitors.
as a healthy environment. ” compost for the integrated township.
Said Mr Tan, “The BCA Green Mark
Launched in 2013, LEAF recognises Mr Steven Shum, GM of Tanah Sutera, Plaque, awarded to Ocean Financial
developments that incorporate said, “We aim to nurture and cultivate Centre, recognises our continual
outstanding green landscaping. a zero-waste mindset among our efforts to develop properties that
It is the first scheme in Singapore residents and tenants. Our most harmonise with the environment
dedicated to the provision and recent win at the SEAA spurs us as well as enhance the well-being
management of greenery. on as we strive towards this goal.” of the community.“3Q/14 Sustaining Growth 19
Winning
partnerships
Keppel Land has partnered
Royal Philips to replace its existing
conventional office lamps with
energy-efficient LED lighting on a zero
capital expenditure (capex) scheme to
reduce lighting energy consumption
in its office premises by up to 60%.
This is also the first time Philips has
embarked on such an initiative in
Singapore for office buildings.
The agreement was signed on
9 September 2014 between Mr Tan
Swee Yiow, President (Singapore) of
Keppel Land, and Ms Harjit Gill, Keppel Land has partnered Philips to replace its existing conventional office lamps with energy-efficient LED
CEO, ASEAN and Pacific of Royal lighting. At the signing of the agreement was (front row, from left) Mr Tan Swee Yiow, President (Singapore) of
Philips, in the presence of Mr Ang Keppel Land and Ms Harjit Gill, CEO (ASEAN and Pacific) of Royal Philips. It was witnessed by (second row, from
left) Mr Lam Siew Wah, Deputy CEO (Industry Development), BCA; Mr Ang Wee Gee, CEO of Keppel Land;
Wee Gee, CEO of Keppel Land, Mr Frans van Houten, President and CEO of Royal Philips; and Ms Ng Hsueh Ling, CEO of Keppel REIT
Ms Ng Hsueh Ling, CEO of Keppel
REIT Management, Mr Frans van
Houten, President and CEO of Royal
Philips, as well as Mr Lam Siew Wah, Mr Ang said, “We believe this is the focus of BCA’s third Green Building
Deputy CEO (Industry Development) first time a landlord has worked out Masterplan in pushing for greater
of the Building and Construction a scheme with a lighting vendor owner-tenant collaboration. As
Authority of Singapore (BCA). to offer a solution to replace tenants contribute to nearly half of a
existing lightings in office premises building’s total energy consumption,
As part of its commitment to engage without upfront cost to tenants. this joint effort and commitment by
and promote green practices among both landlord and tenants to reduce
tenants, Keppel Land and Keppel REIT “We encourage all our tenants at energy usage and adopt energy
have also extended the scheme to Keppel Bay Tower and Bugis Junction efficiency measures can enhance the
their tenants. Towers to join us in our green journey total building’s energy performance
as we continue to improve our significantly. We hope to see more
Tenants from Bugis Junction Towers, environmental performance. of such mutually beneficial landlord-
namely Cathay Pacific, PremierWills We hope to eventually roll out this tenant collaborations in future.”
and REC, as well as The Swatch scheme to all of the buildings under
Group from Keppel Bay Tower, the Keppel Land Group.” If all the tenants at Keppel Bay
have formalised their interest in Tower and Bugis Junction Towers
this initiative with the signing of a Ms Gill concurred, “The launch of this come on board the scheme, overall
memorandum of understanding with first commercial zero-capex lighting annual savings of 1.5 million kWh, or
Philips on the same day. model is a significant milestone for both $400,000 per annum, is expected.
our businesses, and we thank Keppel These savings equate to the energy
Under the zero capex scheme, for supporting our vision as we work required to power about 250
Philips will offer LED lighting with no towards fulfilling BCA’s third Green five-room HDB apartments in
upfront capital investment required. Building Masterplan, encouraging Singapore for one year.
The cost savings from the lower building tenants to play a bigger role in
energy consumption from the LED the green building movement.” The third Green Building Masterplan
lighting will be shared between the was launched at the opening
parties for an agreed time period, Mr Lam said, “We are heartened ceremony of the International
following which the savings will be that Keppel Land is working with its Green Building Conference 2014,
enjoyed by Keppel and its tenants for tenants to reduce energy usage in of which Keppel Land was a Gold
their respective premises. its properties. This is in line with the Sponsor (read more on page 16).
ACROSS BORDERS20 Sustaining Growth 3Q/14
Double wins at FIABCI
In recognition of its excellence in With this win, both properties will as well as environmental impact and
design and architecture, go on to participate in the highly community benefit.
Ocean Financial Centre and acclaimed FIABCI Prix d’Excellence
Marina Bay Suites were conferred Awards 2015. The award ceremony was held on
the coveted International 13 August 2014 at Parkroyal on
Real Estate Federation FIABCI Participants were evaluated on Pickering hotel.
Singapore Property Awards under aspects such as concept, architecture
the Office and Residential (High Rise) and design, development and
categories, respectively. construction, finance and marketing,
Creative win
Keppel Land’s brand advertisement for Corals at Keppel Bay (right) has been
conferred the Bronze award under the category of Print Single/Campaign -
Chinese at the SPH iink Awards held on 1 August 2014. Into its 10th year, the SPH
iink Awards is organised by the Singapore Press Holdings (SPH) to celebrate
and honour the best print advertisements and the creative people behind
them. Receiving the award on behalf of the Company was Keppel Land’s GM of
Marketing, Mr Albert Foo (left picture, fourth from left), together with the team
from DDB Group Singapore, the creative agency behind the advertisement3Q/14 Sustaining Growth 21
Inculcating a safe mindset
As one of Asia’s premier property headquarters at Bugis Junction Towers Yangon, some of whom were from the
developers, Keppel Land upholds as well as Marina at Keppel Bay government sector.
safety as a top priority in its projects on 30 June 2014. Employees carried
both locally and overseas. out the response plan for a severe Held at the Inya Room of Sedona
haze outbreak, which included Hotel Yangon, speakers at the seminar
SINGAPORE disseminating information on the included Mr Peter Jones, GM,
Pollutant Standards Index and Workplace Safety and Health,
Held on 8 August 2014, the seventh instructions to work from home. Keppel Land, who shared on the
instalment of Keppel Land’s Annual Group’s safety practices across its
Consultants and Contractors Health MALAYSIA various projects in the region.
and Safety Meeting saw over
120 Keppelites, consultants and For its good efforts in upholding Keppel Land’s appointed contractor for
contractors coming together to share safety best practices at The Seed, the extension of Sedona Hotel Yangon,
best practices in safety. one of the residential projects situated Woh Hup, also shared on the
within Keppel Land’s joint venture practices implemented onsite during
To commend the efforts of project development of Taman Sutera, the construction, which is currently ongoing.
teams and contractors who have made Company was invited by Malaysia’s
significant contributions towards safety Department of Occupational Safety GLOBAL PLATFORM
excellence, Safety Recognition Awards and Health (DOSH) to share on some
were given out to project teams of of its processes at the Safety & Health Keppel Land's position as an industry
The Luxurie, Ocean Financial Centre Officer Seminar on 26 August 2014 leader in terms of workplace safety
Phase Two, Marina Bay Suites and at the DOSH headquarters in Johor and health was reinforced at the
The Lakefront Residences. Bahru. The seminar is a satellite event World Congress on Safety & Health at
of Malaysia’s International Conference Work in Frankfurt, Germany from
In his opening remarks, Mr Loh Chin Hua, on Occupational Safety and Health 24 to 27 August 2014.
CEO of Keppel Corporation 2014 held in Kuala Lumpur.
and Chairman of Keppel Land, During the congress, Keppel Land's
commended the project teams for The Seed is also one of the projects Director of Workplace Safety and
their achievements. He reiterated that shortlisted for the DOSH Workplace Health Mr John Birchall was invited as
safety is a collective responsibility and Safety Awards which will be held in a panelist in a dialogue session on the
that all stakeholders should embrace November 2014. topic of Diversity in the World of Work,
a strong innovative spirit, which, in relation to occupational health and
coupled with valiance, will reinforce MYANMAR safety. During the session, Mr Birchall
the Company’s safety foundation. shared on Keppel Land's systems
On 30 August 2014, Keppel Land held and practices that are in place to
In addition, as part of the Company’s its first safety seminar in Myanmar overcome challenges companies may
business continuity efforts, safety at Sedona Hotel Yangon. Invited have when working in a culturally
drills were held at Keppel Land’s guests included top engineers in diverse environment.
As safety is a top priority at Keppel Land,
regular events are held for the sharing of
best safety practices. The Company’s Annual
Consultants and Contractors Health and Safety
Meeting (pictured) is one such platform
ACROSS BORDERS22 Empowering Lives 3Q/14
Mr Ang Wee Gee (first row, sixth from left), CEO of Keppel Land, took the chance to
interact with staff from HCMC, Vietnam, at a cocktail session in August 2014
With people as the cornerstone of Mr Ang took the chance to update
Keppel Land’s business, CEO Mr Ang the staff on the Company’s
Engaging Wee Gee took the chance to interact
with local staff during his recent visit to
performance and corporate strategy,
as well as the challenges ahead.
staff
Ho Chi Minh City (HCMC), Vietnam.
He also shared the rationale behind
Close to 30 Keppel Land staff from Keppel Land’s brand philosophy
various departments attended a – Thinking Unboxed – which was
cocktail session at Intercontinental unveiled last year, and reiterated the
Saigon Hotel on the evening of importance of continually innovating
13 August 2014. to stay ahead of competition.
Leading
HR practices
As an employer of choice,
Keppel Land continually improves
and innovates work processes and
initiatives within the Company for
the benefit of its employees. Keppel Land received
multiple accolades at the
For its efforts and systems, Singapore HR Awards
2014. Representing the
Keppel Land was lauded at the Company was Mr Chan
Singapore HR Awards held on Kam Fai, GM (HR)
11 July 2014. Organised by the
Singapore Human Resource Institute Retention and Success Planning as in an increasingly challenging
(SHRI), the awards recognise leading well as Compensation and Rewards business environment.”
best practices in various aspects of Management categories.
human capital management. Standing firm to its commitment to
Receiving the awards on behalf uphold good labour practices and
After a rigorous judging process, of the Company, Mr Chan Kam Fai, as a supporter of human rights,
the judging panel, comprising GM (HR) of Keppel Land, said, Keppel Land has been a signatory to
representatives from the academia, “We are honoured to receive these the United Nations Global Compact
HR profession and various government accolades which recognise the (UNGC) since 2011, and has pledged
bodies, conferred Keppel Land progress of ongoing collaborative its commitment to the UNGC’s
three awards including Leading HR efforts between the HR department 10 universal principles in the areas
Practices in Learning and Human and other units to build an engaged, of human rights, labour standards,
Capital Development as well as special pro-learning and dynamic organisation environmental protection and
mentions in the Talent Management, that will enable us to stay competitive anti-corruption.3Q/14 Empowering Lives 23
Gaining
insights
To keep its directors and employees
abreast of the latest regulatory
requirements, Keppel REIT
organised an anti-money laundering
(AML) talk conducted by KPMG on Keppel REIT organised an
13 August 2014. anti-money laundering talk
conducted by KPMG on
Under the regulations of the Monetary 13 August 2014
Authority of Singapore, all employees
and officers of a capital market During the training, Keppel REIT in organisations, as well as the
services licence holder have to be directors and staff learnt how money various due diligence procedures the
regularly trained on AML laws launderers and the financiers of organisation can undertake to reduce
and regulations. terrorism could exploit vulnerabilities its risk exposure.
Celebrations
abound
The Chinese Mid-Autumn Festival is an annual
occasion when Keppel Land employees bond over
Chinese tea and mooncakes, as well as pit their
wits against one another with lantern riddles.
In Singapore, Keppel Land held its annual
Mid-Autumn celebration on 5 September 2014
at the Company’s headquarters in Bugis Junction
Tower. Senior management and staff engaged
in fun activities such as the penning of wishes on
lanterns before releasing them (left photo).
In Malaysia, staff of Tanah Sutera, Keppel Land’s
joint venture company, enjoyed scrumptious
mooncakes during a celebration at Sutera Mall on
29 August 2014 (photo below).
ACROSS BORDERS24 Empowering Lives 3Q/14
World of opportunities
The saying “the world is VENTURING INTO VIETNAM side of the business and am given
your oyster” is especially the opportunity to work closely
apt for Keppelites as Thirty-year old Wayne Teo jumped at with various departments, including
the Keppel Group has the chance when presented with Projects and Marketing.”
the opportunity to work in Keppel
businesses in over
Land’s office in Ho Chi Minh City More than a year into his secondment,
30 countries. (HCMC), Vietnam, for two years Wayne has not only built relationships
under the Finance Management with the locals, he has also learnt to be
As an employer of Development programme. more flexible in embracing different
choice, Keppel Land working styles.
seeks to provide its staff Working in a foreign country may be
opportunities which allow daunting to some due to language “People have different personalities
them to be stretched to barriers, but Wayne has never been and things may not always turn out the
their fullest potential. one to back down from a challenge. way you want them to. I have learnt
It has also always been his dream to to take things in my stride, adapt and
Across Borders profiles
spread his wings and work abroad. work around the situation.
two employees who
have left their home Leaving the comfort of home, Wayne, “I try to put myself in others’ shoes
countries in search of previously Assistant Finance Manager and think from their perspective.
new experiences and at Keppel Telecommunications & Reminding myself that we share
adventures abroad. Transportation in Singapore, ventured different customs and values has
forth to assume his new role as helped me to be more understanding
Financial Controller at Keppel Land and tolerant towards things that come
(Vietnam). Wayne now oversees the my way, both good and bad,” he said.
finances for various trading properties,
including those which have been When he is not busy with work, Wayne
launched for sale, as well as enjoys exploring different parts of
properties that are in the initial Vietnam. He has visited coastal towns
stages of development. and islands such as Nha Trang and
Phu Quoc, which are known for their
“This is an exciting role for me as I white sandy beaches. Having yet
am now exposed to the operational to explore central Vietnam, Wayne
looks forward to soaking in the famed
breathtaking scenery of the imperial city
of Hue, the charming old town of Hoi
An and the historical ruins of My Son.
When asked about his biggest
challenge living abroad, he laughed,
“I suppose it will be doing my own
laundry and cooking my own meals!”
Keppel Land is one of the pioneers
and largest foreign real estate
investors in Vietnam with a diverse
portfolio of properties in Hanoi,
Ho Chi Minh City, Dong Nai and
Vung Tau including Grade A offices,
residential properties, integrated
Financial Controller at Keppel Land (Vietnam),
Wayne Teo (second from right), celebrates with his
colleagues at the company’s year-end party in 2013You can also read
