Keppel Land China expands portfolio with maiden site in Nantong

Keppel Land China expands portfolio with maiden site in Nantong:

• Press Release

Key Points

• Keppel Land China, through its wholly-owned Singapore subsidiary, Merryfield Investment Pte Ltd, has secured a 17.2 hectare site within the main city of Nantong, Jiangsu province, for RMB 1.04 billion (S$ 202 million) for a lakefront residential development.
• Keppel Land China’s maiden property development in Nantong is located in the established town centre of the state-level Nantong Economic & Technological Development Area (NETDA), now home to 50 of the Fortune 500 enterprises.
• The exclusive low-density residential development will comprise about 1,000 homes, ranging from villas, terraces, duplexes to high-rise apartments supported by complementary lifestyle commercial facilities. Targeted at the high income segment, the first phase is expected to be launched in the first half of 2012.

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• Kepland acquires an additional stake in Jiangyin Evergro Properties Co., Ltd
• Keppel Land buys two prime residential sites in Chengdu - 18 OCT 2010 

Keppel secures S$240 million worth of conversion and specialised shipbuilding contracts

Keppel secures S$240 million worth of conversion and specialised shipbuilding contracts:

• Press Release

Key Points

• Keppel Offshore & Marine Ltd (Keppel O&M), through wholly-owned subsidiaries Keppel Shipyard Limited and Keppel Singmarine Pte Ltd, has clinched new contracts totalling S$240 million.
• These comprise the upgrading of a Floating Production Storage and Offloading (FPSO) vessel, the conversion of a livestock carrier, as well as the building of a diving support vessel.
• With these latest projects, the total value Keppel O&M in 2010 has edged up to S$3.2 billion.
• Additionally, Keppel Shipyard has secured its third livestock carrier conversion project from the Hijazi & Ghosheh Group, a world-leading owner and operator of such vessels. 
• This contract involves converting the Reestborg container ship into a livestock carrier for Hijazi & Ghosheh’s affiliate company, Reestborg Compania Naviera S.A. 
• Keppel Shipyard’s work scope includes providing design engineering services, equipment procurement, as well as modifying the ship’s structural, piping and electrical systems. 
• When completed in the second quarter of 2011, the livestock carrier will ply the route between Australia and the Middle East.
• Fortifying its track record for customised ship solutions, Keppel Singmarine has also won a contract from a Malaysian customer to build a diving support vessel.
• The 80-metre ship will be based on a new design specially developed by Keppel’s Marine Technology Development unit for the customer. 
• When completed in the second quarter of 2012, this diving support vessel will be able to perform multiple functions including rescue and subsea operations.

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• Keppel seals US$360 mil contract with mermaid’s asia offshore drilling for two newbuild jackups - 2 DEC 2010
• Keppel wins US$180 mil KFELS B Class jackup rig contract from Standard Drilling

Keppel to build US$180 million KFELS B Class Jackup for Jasper

Keppel to build US$180 million KFELS B Class Jackup for Jasper:

• Press Release

Key Points

• Keppel FELS Limited (Keppel FELS) has secured an order for a KFELS B Class jackup rig worth about US$180 million from Jasper Investments Limited (Jasper), with an option for another similar unit. 
• The rig is slated for delivery in 2H 2012.
• If exercised, the option for the additional rig will bring the total contract value to about US$365 million.
• Total value of new contracts secured in 2010 reaches S$3 billion.

About Jasper Investments Limited
Jasper Investments Limited is a holding company listed on the SGX since 1993 which principally invests in the offshore oil and gas drilling and services sector. Jasper’s principal subsidiary, Jasper Offshore, owns and operates oil rigs for deep sea drilling which are contracted out to oil and gas exploration and production companies. For more information on Jasper Investments, please visit http://www.jasperinvests.com/index.php.

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• Keppel seals US$360 mil contract with mermaid’s asia offshore drilling for two newbuild jackups - 2 DEC 2010
• Keppel wins US$180 mil KFELS B Class jackup rig contract from Standard Drilling

K-Reit completes acquisition of 77 King Street

(I) COMPLETION OF ACQUISITION OF 77 KING STREET
(II) USE OF PROCEEDS FROM THE NOV 2009 RIGHTS ISSUE 

• Press Release

Key Points

• Further to the announcement dated 19 July 2010 in relation to the acquisition of 100% interest in Lots 1, 3, 4 and 5, 77 King Street, Sydney, Australia (the “Acquisition”), the Acquisition has been completed.
• The Acquisition was financed with S$19.4 million from K-REIT Asia’s rights issue in November 2009 (the “Rights Issue”) and additional borrowings. 
• Such use of proceeds of the Rights Issue is in accordance with the stated use and the percentage of the proceeds allocated to such use.
• As at the date of this announcement, the Manager has disbursed all the proceeds from the Rights Issue.

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• Financial News - 19 JUL 2010: K-REIT - ACQUISITION OF THE OFFICE TOWER AT 77 KING STREET, SYDNEY, AUSTRALIA

Kepland completes divestment of one-third interest in MBFC Towers 1 & 2 and Marina Bay Link Mall - 15 DEC 2010

Completion of
(i) divestment of one-third interest in Marina Bay Financial Centre Towers 1 & 2 and Marina Bay Link Mall; and
(ii) acquisition of Keppel Towers and GE Tower

• Press Release

Key Points

• Keppel Land has completed divestment of the one-third interest in the MBFC 1 Property to K-REIT Asia, and the acquisition of the KTGE Property from K-REIT Asia on 15 DEC 2010. 
• The net proceeds received by Keppel Land from the Transactions was about S$826 million.

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• Keppel Land Divestment of MBFC phase 1 confirmed as capital gain and not taxable - 6 DEC 2010
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