Singapore Corporate News - 24 Sep 2007

Keppel O&M investing in scholarships

KEPPEL Offshore & Marine Limited is investing in scholarships to build up the talent pool in the maritime industry.

It recently pumped $50,000 into two student endowment schemes at Nanyang Technological University (NTU) which will benefit final year students who excel in selected subjects. Since 2002, Keppel O&M has awarded over 450 scholarships to employees as well as tertiary students.

Keppel O&M employs around 1,300 engineers in Singapore, of which graduates and post-graduates constitute two thirds. Engineers make up more than half of Keppel O&M's executive workforce.

However, expertise isn't something that can be instilled overnight, Mr Tong stressed, as it takes years of experience to attain a high level of skilled workmanship.

To aid the process, the group channelled $17 million towards training and development in 2006, of which $11 million was invested in Singapore alone. This is in marked contrast to 2005, when only $3.6 million was spent on training and development of staff in Singapore.

China Angel eyes M&A opportunities

THIS Mid-Autumn Festival has seen mooncakes sales soaring in China - and that is a big slice of good news for China Angel, the only dedicated mooncake maker listed on the Singapore Exchange (SGX).

Buoyed by the strong sales, China Angel is eyeing merger and acquisition opportunities as well as organic business growth.

The Guangdong-based company is among the leading mooncake makers in China, where the Mid-Autumn Festival is a major event on the calendar. While there are other SGX-listed food and beverage companies - like the Tung Lok restaurant group - which also makes mooncakes seasonally, China Angel stands out with mooncakes as its core business.