Keppel Ltd.

The name of the company Keppel was derived from a British ship captain, Captain Henry Keppel, who discovered a natural, deepwater harbour (the Keppel Harbour) in Tanjong Pagar in 1848. The harbour was previously known as New Harbour until 1900 when the acting governor of Singapore, Sir Alexander Swettenham, renamed the harbour to Keppel Harbour in the honour of Captain Henry Keppel when he visited Singapore in 1900.{{cite web|url=http://www.kepcorp.com/en/content.aspx?sid=86|title=Keppel Corporation - Heritage}}

In 1968, Temasek Holdings founded Keppel Shipyard when Keppel Harbour was taken over from the British Royal Navy after it withdrew from the island. In the 1970s and 1980s, Keppel Corporation focused on diversification within the company and regionalisation with the first overseas venture in 1975, Keppel Philippines Shipyard was set up in partnership with Filipino investors, with head offices in Cebu and Manila. In 1978, Keppel then ventured into the finance industry by providing financial services to marine contractors under Shin Loong Credit (renamed Shin Loong Finance) which propelled the growth and expansion of the financial services provided by Keppel.

Keppel then ventured into the property market in 1983 after acquiring Straits Steamship Company, an established shipping company with substantial land holdings in Singapore. The Straits Steamship Company was then renamed to Straits Steamship Land (now known as Keppel Land) to focus on the property market.

In 1990, with the acquisition of the Asia Commercial Bank, Keppel Corporation established banking and financial services as a major pillar of growth for the company and in 1997 Keppel Bank acquired Tat Lee Bank,{{Cite news |date=23 November 1998 |title=Keppel, Tat Lee cut rates by 1/2 -pt |url=https://eresources.nlb.gov.sg/newspapers/digitised/article/biztimes19981123-1.2.33.2 |access-date=7 February 2024 |work=The Business Times |pages=17 |via=NewspaperSG}} resulting in an enlarged bank called Keppel TatLee Bank to expand its services in the banking industry. In 1999, Keppel Shipyard (now known as Keppel Offshore & Marine group) moved its operations base from Keppel Harbour to Jurong to expand Keppel Corporation's offshore and marine operations in yards around Tuas, Gul and Benoi, which were close to one another and also to develop the land which Keppel Harbour was situated on into waterfront residential area.

In 2001, Keppel divested its banking and financial services business and privatised its offshore and marine business which resulted in the integration of Keppel Shipyard together with Keppel FELS and Keppel Singmarine to form the Keppel Offshore & Marine group in 2002.

In 2015, Keppel Shipyard got a secured floating Production storage and Offloading conversion project worth of $89 million. The project includes repair, upgrade and modification. FPSO Conversion has already started and it is going to be completed in third quarter of 2016.{{Citation | url=http://www.offshore-technology.com/news/newskeppel-wins-89m-worth-contracts-4644367 | title = Keppel wins contracts worth $89m | date = 10 August 2015 }}

They were the recipients of the Business China Enterprise Award in 2015, for their contributions to China-Singapore business relations.{{Cite web|title = Home|url = http://businesschina.org.sg/bcawards/|website = businesschina.org.sg|access-date = 24 December 2015}}

On 28 February 2023, Sembcorp Marine completed its acquisition of Keppel Corporation's Offshore & Marine division for $3.34 billion.{{Cite web|url=https://www.upstreamonline.com/finance/done-deal-sembcorp-marine-acquires-keppel-offshore-marine-for-3-34-billion/2-1-1411498|title=Done deal!: Sembcorp Marine acquires Keppel Offshore & Marine for $3.34 billion|date=1 March 2023}} Subsequently, on 27 April 2023, Sembcorp Marine's shareholders approved Sembcorp Marine's name change to Seatrium.{{Cite web|url=https://www.upstreamonline.com/finance/sembcorp-marine-is-no-more-long-live-seatrium-/2-1-1441676|title=Sembcorp Marine is no more, long live Seatrium!|date=27 April 2023}}

On 1 January 2024, the company has officially changed its name to Keppel Ltd.

The Keppel Group of Companies includes subsidiaries, associated companies, as well as shareholdings in other companies.

• Keppel Land
• Keppel Infrastructure Holdings
• Keppel Telecommunications & Transportation
• Keppel Capital Holdings{{cite web|url=http://www.kepcorp.com/en/content.aspx?sid=89|title=Keppel Corporation - Group Structure}}

In a press release after an American subsidiary pleaded guilty in federal court in Brooklyn, New York, U.S. prosecutors said Keppel units paid about $55 million to win 13 contracts with Petrobras and another company. The payments, through a series of shell companies, were bribes disguised as consulting agreements. Keppel Offshore & Marine USA pleaded guilty to the bribery scheme which ran for more than a decade, while its parent, Singapore-based Keppel Offshore & Marine, entered into a deferred-prosecution agreement with the government. It agreed to pay $422 million to end the U.S. bribery probe.{{cite news|url=https://www.bloomberg.com/news/articles/2017-12-22/keppel-offshore-agrees-to-pay-422-million-to-end-bribe-probe|title=Keppel Offshore to Pay $422 Million to End Bribery Probe|newspaper=Bloomberg.com|date=22 December 2017|access-date=21 April 2018|via=www.bloomberg.com}}

In July 2016, during testimony in court, a former agent for Keppel alleged that high-ranking Keppel executives Chow Yew Yuen, Tong Chong Heong, Tay Kim Hock, Kwok Kai Choong, and Choo Chiau Beng, approved the former agent's bribing of Brazilian officials to secure contracts with Brazil's state-controlled Petroleo Brasileiro SA.{{cite web |title=Keppel's former agent in Brazil says managers backed bribes |url=https://www.businesstimes.com.sg/companies-markets/keppels-former-agent-brazil-says-managers-backed-bribes |publisher=The Business Times}} Meanwhile, Jeffery Shiu Chow, a long-time attorney for Keppel, told an American court that he had assisted in the bribe payments.{{cite web |last1=Leong |first1=Grace |title=Ex-Keppel O&M lawyer discussed with company seniors 'economic terms of contracts' used to bribe Brazilian officials: Court papers |url=https://www.straitstimes.com/singapore/ex-keppel-om-lawyer-discussed-with-company-seniors-economic-terms-of-contracts-used-to |publisher=The Straits Times}}

• Ocean Financial Centre

{{Reflist}}

• [https://www.keppel.com/ Keppel Limited]
• [https://www.keppel.com/en/who-we-are/about-keppel/ About Keppel]

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Category:Companies listed on the Singapore Exchange

Category:Temasek Holdings

Category:Singaporean brands

Category:Singaporean companies established in 1968

Category:Multinational companies headquartered in Singapore

Category:Companies in the Straits Times Index