Keppel FELS secures new contracts worth US$101 million - 30 SEP 2010

Keppel FELS secures new contracts worth US$101 million. See press release.

Key Points

• Keppel FELS Limited has secured new contracts worth about US$101 million (S$134 million) to complete and refurbish two semisubmersible drilling rigs respectively for Saipem S.p.A and Ensco plc.
• The first contract was awarded by Saipem S.p.A for the commissioning of the technologically advanced Frigstad D90 semisubmersible rig, Scarabeo 9. A significant part of the workscope involves the commissioning of all marine and drilling sub-systems onboard. Equipped with a Dynamic Positioning 3 system, this state-of-the-art rig will be able to operate at a water depth of 3600 metres. Scarabeo 9 is slated to depart from a Chinese yard and arrive in Keppel FELS towards the end of October 2010.
• The second contract was awarded by a subsidiary of Ensco plc for the upgrade, repair and refurbishment of its proprietary ENSCO 7500 semisubmersible rig. The major work scopes include significant life extension work, renewing steel and pipes, operational enhancements, overhauling machinery and expanding and updating the living quarters. ENSCO 7500 has arrived at Keppel FELS, after fulfilling its drilling contract with Chevron in Perth, Western Australia.
   

Keppel Land strengthens focus on China - 29 SEP 2010

Keppel Land strengthens focus on China. See press release.

Key Points

• Keppel Land Limited (Keppel Land) today announced it will strengthen its focus in China through a wholly-owned subsidiary, Keppel Land China Limited (Keppel Land China) which is being established to own and operate all of Keppel Land's properties in the country.
• Building on the Keppel Group’s strong network and track record in 20 cities across China, Keppel Land currently has a total GFA of 5.3 million sm which translates to more than 40,000 homes in township, residential and waterfront developments. Keppel Land is also an investor, as well as developer cum project manager for the Keppel development, in the landmark Singapore-China government project, the Sino-Singapore Tianjin Eco-City.
  

Financial News - 5 SEP 2010: Keppel Land unlocking value from Barclays House

Keppel Land unlocking value from Barclays House. See press release.

Key Points

• Keppel Land will unlock value from its Barclays House complex in Jakarta's CBD through the redevelopment of one of its two buildings.
• The existing 10-storey building, which was first completed in 1985, can be redeveloped into a 40-storey tower with a maximum potential gross floor area of about 56,000 square metres (sm) (approximately 600,000 square feet).
• The redevelopment, which will take about three years, is estimated to cost about Rp 636 billion (S$95 million). 
• Upon its targeted completion in early 2014, the new tower will be state-of-the-art with larger floor plates and green features such as high-efficiency mechanical and electrical equipment, energy saving lighting and fixtures with sensors to monitor water consumption.