Singapore: Keppel Corporation, parent group of specialist vessel and rig manufacturer Keppel Offshore and Marine, celebrates its 40th anniversary this month. "With roots in Singapore, Keppel Corporation's 40-year history has seen the company grow from a shiprepair yard in 1968 into a globally diversified group with a 32,000-strong workforce in 34 countries around the world," said Lim Chee Onn (pictured), executive chairman of Keppel Corporation.
"During these past four decades, Keppel had gone through many ups and downs, and had to navigate numerous twists and turns," he continued, adding, "2001, in particular, was a significant turning point for Keppel as we embarked on the strategy to streamline our diverse portfolio to focus on the three key businesses of Offshore & Marine, Property and Infrastructure.
With focus on its key businesses, Keppel was able to generate creditable growth over the past seven years. Profit after tax and minority interests close to quadrupled from S$270 million in 2001 to over S$1bn at the end of 2007, achieving a compounded annual growth rate of about 23% over this period.
Keppel O&M is one of the largest offshore and marine groups in the world and operates a strategic network of 20 yards serving regions including Asia Pacific, Gulf of Mexico, Brazil, Caspian Sea, Middle East and the North Sea.
The group launched its year-long celebrations with a special concert graced by Senior Minister Goh Chok Tong. The concert is the inaugural programme under Keppel Nights, a sustained arts sponsorship scheme that is a joint initiative between Keppel Corporation and the National Arts Council (NAC) to cultivate audiences for the arts. [19/08/08]
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