September - October 2009 A Renaissance Services SAOG Group Newsletter vol.0 issue 6

CEO message - Nothing fails like success05

In brief01

October - Topaz takes

home two Seatrade awards

October - CSG kicks off

large-scale training and

employement drive

October - Renaissance

sponsors the Muscat Rugby

Football league

October - Happy Diwali!

please visit www.renaissance-oman.com

November - Q3 financial

results announced and

published

November - UPP pub-

lishes its Oman country

book in recognition of the

39th National Day of the

Sultanate

00Renaissance Board visits Fujairah

Two Topaz facilities had prominentvisitors recently. The RenaissanceBoard members were in Fujairah andvisited the Port of Fujairah, attendingthe inauguration of the new Al Haylfacility. Mr. Samir J. Fancy, Chairmanof the Board and Chief Guest of theevent, cut the ribbon during theinauguration ceremony.

The board members were treatedto presentations and site visits hostedby Bhagchand Motwani, DGM ofTopaz Fabrication and Construction,John McFadyen, GM of Topaz MarineRepair and Tom Bower, GM of TopazShip Building.

As a special treat, the Board andthe Topaz senior management teamwere taken for a boat ride on thebrand new Topaz Fujairah, the newestaddition to the Topaz Marine MENAfleet and the pride of Topaz ShipBuilding. Ron Clark, GM of TopazMarine MENA and his team hostedthe boat ride and a lunch on board.

Dear Colleagues,

I had a great conversation with our Chairman, Samir Fancy, recently in which he was questioning me on

the company’s ability to change and adapt to the significant challenges arising from the global financial and

economic crisis. While the challenges are serious, the conversation was optimistic. Why? - Because we

believe in the people and leadership skills at every level of the organization that have demonstrated

resilience to challenge throughout the company’s history. But a history of success is no cause for

complacency and I felt it would be worth sharing the stimulus of Samir’s question with colleagues through-

internalnewsletter

Mr. Samir Fancy inaugurates the new Topaz Engineering facility

out the group - hence this note. I was reminded of a

famous quote from the renowned historian Arnold

Toynbee, who said “Nothing fails like success”. Then

two coincidences occurred that are worth repeating:

First I read a paper from Standard Chartered on

‘Growing Stronger from the Crisis’. The messages

were the same: The world economy is undergoing

profound changes. No market will be exempt from the

affect of those changes, including the robust

markets in which we operate. Companies with

financial clout, market-leading business

relationships, and flexibility to adapt will grow

stronger and win.

Then I read a blog from renowned management

guru Dr. Stephen R. Covey, who was himself

quoting Arnold Toynbee’s words, whose, along with

Topaz sponsors the Flying Angel... CSG trains 245 new recruits...

HSE and Safety matters... Make a green contribution... all inside!02Inside

03From the Chairman’s statement

Renaissance has consistently followed a policy of

matching loan maturities to asset profile; using only long

term sources of funds to acquire capital assets. This

prudent strategy has been a significant source of comfort

even in the most turbulent times. Renaissance and its

subsidiaries continue to be a preferred customer for banks

who prefer to lend to asset backed industries with

sustainable cash flows such as ours. The strength of our

business model, our track record of performance, our

transparency and our balance sheet are among the reasons

why financial institutions continue to choose to support us

on new projects at a time when they are rigorously selective

in making choices for new lending.”

Samir J. Fancy, Chairman of Renaissance Services

04Renaissance Values

Customers

We commit to serve our customers so well that

we will merit a volume of business from them

relatively as great or greater than that enjoyed

by our competitors. To give our customers what

they want, not what we think they want or would

prefer them to want. To

deliver projects,

products and services

on time, in cost and in

compliance with

customer specification.

To foster non-confronta-

tional contract relations

with customers. We

commit to exceed

customer expectations,

safely, efficiently and

profitably.

“

06Social Responsibility

In CSR activity this month, two very large-scale projects from the Marine and Contract Services businesses are on the way to realizing a better

standard of living for thousands of people. Find out more about the Flying Angel project and the Safety Signage initiative inside.

continued on page 4

07Topaz appoints new COO 08

Contract Services totrain and employ 245 Omanimen and women

Topaz Energy and Marine

recently announced the

appointment of Bill Bayliss as the

Chief Operating Officer of Topaz

Engineering, the company’s

engineering division. He replaces

the outgoing COO Jim Masterton

who remains with the company in

an advisory capacity through to

retirement. Jim had been with

Adyard for the past 5 years and

has seen the company through its

monumental growth.

A 20 year veteran of the oil &

gas industry, Bill has had a

successful career with industry

names such as KBR and Petrofac.

He has joined Topaz to head the

Engineering division that

encompasses Fabrication and

Construction, Marine Repair, Ship

Building and Maintenance Services.

At the helm of Topaz Engineering,

Bayliss will lead a team of more than 5,000

skilled staff located all over the Middle

East and the Caspian Region. Fazel

Fazelbhoy, CEO of Topaz announced,

“We’re very excited to have Bill on board.

He has a demonstrated capability of

successfully managing large divisions and

possesses exactly the kind of drive and

ambition required to deliver our engineer-

ing business to the next level of growth.”

09Topaz sponsors the Mission to Seafarers’

Flying Angel project

Bill Bayliss,

newly appointed

COO for Topaz

Engineering

The Contract Service Group is launching an

employment campaign to train 245 Omani

nationals in CSG-related employment

opportunities at various locations all across

Oman, including major cities and at oilfield

facilities.

Training has commenced at the National

Hospitality Institute (NHI) where the applicants

undergo Safety and Hazard Protection courses,

as well as basic job skills tailored according to

the different job responsibilities.

CSG currently employs over 1160 Omani

nationals and has won the prestigious Omani

award for Omanisation Programme for six years.

Attractive employment packages and benefits

await the successful candidates who qualify for

the openings. To know more please contact NHI:

(+968) 99319250 or jobs@nhioman.com.

Providing employment opportunities to local

workforces, applying a policy of nondiscrimina-

tion, and having the best team in each field of

business are just some of the guidelines among

the Renaissance Values and within our company

philosophy.

10Topaz bags double honors at regional Seatrade Awards

Congratulations to Topaz Energy and Marine for winning two Seatrade

Middle East and Indian Subcontinent Awards this year. During the grand

award ceremony held in Dubai and in attendance of over 600 maritime

executives, Fazel A. Fazelbhoy, CEO of Topaz Energy and Marine was

awarded for the ‘Personality of the Year’, while Topaz’s Marine MENA fleet

received the ‘Workboats’ award. The ‘Personality of the Year ’ award

presented to Fazelbhoy was one of three special honors on the night, while

the ‘Workboats’ award was given on account of the MENA fleet’s cutting-

edge specifications, young and diverse fleet size, blue-chip client base and

laudable safety track. The company’s engineering division was also

represented by its Topaz Marine Repair unit as a finalist in the ‘Ship

Repair/ Shipyard’ category.

Fujairah Port is the third largest

offshore anchorage in the world

and hundreds of vessels are

parked there awaiting their next

destination. Each year, thousands

and thousands of seafarers can

become stuck on their ships in

Fujairah waiting for either fuel or

cargo, with nothing to do and often

with no real possibility of

contacting anyone outside the ship.

In 2006, the Flying Angel project

was started to improve the quality

of life of seafarers in Fujairah Port.

One million dollars was raised to

construct a purpose-built seafarer

support vessel, the Flying Angel,

which visits the ships and allows 75

seafarers per day to come on

board the vessel and enjoy its

CSG operations at the SQU Hospital Patients Trayline

satellite telephones, internet

connection, entertainment facilities

and library. The Mission to Seafar-

ers works to improve the quality of

all seafarers’ lives, irrespective of

color, race, faith or belief.

With their sponsorship, Topaz

will use its considerable vessel

management infrastructure to

manage the Flying Angel and

absorb the operating and running

costs for the entire vessel, which

last year was close to US$

400,000. In doing so, many

thousands of mariners will continue

to enjoy the opportunity to contact

loved ones and the company can

give something back to the sea and

the seafarers that have given us so

much.

The Flying Angel provides communication and support forthousands of seafarers

Fazel A. Fazelbhoy, CEO Topaz (left) Ron Clark, GM of Topaz Marine MENA (right)

11 Contract Services Group invests in Safety signage

Road accidents are the leading

causes of fatalities in Oman’s

interior, and road accidents in Oman

have become a matter of serious

concern to the community at large.

To support safe first practices, the

Contract Services Group has

developed a series of Life Saving

signs of international highway

quality to reinforce Road Safety at

the five PACs which it owns and

operates for PDO in Oman’s oil-

14UMS hosts Iftar gathering

United Media

Services organized

an Iftar gathering at

Al Maasa Hall.

Sandeep Seghal,

CEO of UMS

(center), is seen in

discussion with

other members of

the UMS Team.

Feedback15

Please send your feedback to Hala Srouji, Corporate

Communication Manager, via email: hala@tawoos.com or

phone: 24796636 (ext.303) Thank You!

HSE Statistics12

With staff strength of over 5,500 employees, the Contract Services

Group has reached over four million man-hours with Zero LTI for the

months of August and September. Congratulations on being a step

closer to Goal Zero: No harm to people or the environment.

PAC Qarn Alam celebrates Eidwith residents and staff13

fields.

The Life-Saving Rules emerged

from a long and intricate

international study that measured

LTI across hundreds of companies,

and it was found that by following

these Life-Saving Rules then near

zero accidents and injuries would

be the result. The Safety signs

have been designed in Arabic and

English to reach the workers,

residents and visitors of the PAC

locations specifically, and

the local community as

well.

The signs have recently

been implemented at

Fahud, Nimr and Qarn

Alam, and will soon go up

in the PACs under

construction at Marmul

and Bahja.

PAC Qarn Alam was filled with festivities and

decorations to mark the Eid occasion last month. Residents

and staff were invited to a morning buffet in a lively

decorated dining hall, and celebrations continued into the

evening with games and competitions, as well as an

evening buffet and cake dessert for all attending.

Topaz Sponsors and Exhibits at MEWE16

Nothing fails like success continued from page 118

Samir’s, were already busy agitating in my brain. This is what he wrote.

'Are you struggling to make changes or respond to changingconditions? I know many people right now are being forced to changethe way they work or live because of our turbulent environment. Whatwe might all consider in these times is what the great historian ArnoldToynbee once said:

Nothing fails like success.What does that mean exactly? Well, if you consider the challenges

you're facing, you might just be using an old approach that isn't equal tothe challenge. In other words, when we have a challenge and theresponse is equal to the challenge, that's called success. But once wehave a new challenge, the old, once successful response no longerworks. That's why it's called a failure.

We have to examine our paradigms (our view of things), our tools, ourskills to determine if we're approaching the problem in the right way. Asa first step, we may even step back and make sure we've correctlydefined the problem. Then we need to see if, based on the evidence ofresults or lack of results, if we need a new approach.

As you ponder your challenges, consider if you need a new mindset,a new skillset or toolset. You may need to adjust your view, try adifferent perspective or a new way to think about it. Then you may needto acquire some new skills or tools to tackle the problem. Whatever thecase, you may need to find a new model to drive success. This can bean exciting proposition because you will most likely find new growth anddevelopment in the process - this is success!

Remember: nothing fails like success. Be vigilant and be ready tocontinually learn and adapt to new challenges, which will surely comeyour way'.

Three areas of thought emerged in my mind from all this: First, I am

pleased how well most of our businesses have responded to the crisis –

our collective results show considerable success and resilience. Well

done! Second, as we enter the new business plan cycle, how aware are

we of the profound changes in the market? – to succeed we have to

Topaz was an exhibitor as well as

one of the sponsors for the Middle

East Workboats Exhibition, which

ran from 5 – 7 October at the Abu

Dhabi National Exhibition Centre,

and included over 170 exhibitors. As

it was a workboat show, the Topaz

delegates at the stand primarily

represented the Topaz Marine

division, and Topaz Ship Building

and Topaz Marine Repair units.

Topaz had a great space selected

which ensured good visibility and

plenty of traffic around the stand.

The organizers noted a 70%

increase in the number of exhibitors

which was seen as a powerful sign

of the continuing growth in the

offshore marine support sector in

the region.

17Awareness

Being green is more than a matter of

sound business practice and an important

moral issue; it is a cause for survival. It’s

easy to think that we’re too small to make a

global difference or that all the decisions are

in the hands of our leaders. Turning off a

standby light once won’t make a difference,

but do it for the rest of your life and it will

amount to something. And if everybody’s

doing something, then we’re moving in the

right direction.

We can act at many levels and support

the different existing organizations in your

communities or start your own. One thing

that all the leaders who provide inspiration

and action have in common is the idea that

in crisis lays opportunity. Here’s a small

exercise to start with:

Make a list of the little wasteful things that

you do every day and stop doing them, and

educate those around you to do the same.

Think about the electrical equipment we leave on

every day, even when not in use. Have you left your

computer on overnight? Or the lights on in your office

when you were out for a meeting? How many times

you left the water tap running while you turned to do

something else? Have you left the air conditioning or

heater on when you could have done without it? Do

you throw leftover food away? Are you using the other

side of printed paper that you do not need to print a

draft document? Have you considered walking to

places rather than driving?

Renaissance encourages you to start making a

change today. If you have an idea that you would like

to share with us, please mail to hala@tawoos.com. It

is through the great people within this company that

our organization can respond to the significant issues

of our times. We must all do our utmost to protect our

planet and the life on it. Make protecting the

environment a core personal and business value.

anticipate and satisfy changing customer needs efficiently and profitably;

we may well have to manage the business somewhat differently. Third, the

2009 performance to date demonstrates the importance of individual and

corporate leadership throughout the group in such unpredictable times.

We know strong and sustainable businesses are characterized by

committed and effective leadership at all levels of the organization. So,

going forward, are we keeping our leadership knowledge and skills fresh

and relevant in a rapidly changing world?

Experience has taught me that answers and insights into all this will be

abundant amongst the very bright and focused leaders running the

businesses, divisions and departments throughout our group. I just want to

be sure we capture those inputs to create a consistency of purpose and

approach in our response to the challenges of 2010 and beyond. As such,

as the bottom-up business planning process cascades upwards to the final

plan, may I ask each of you to consider the following to include in the

summary of your plans:

First, an even deeper and more thoughtful analysis than usual on the

changing business environment in your area of responsibility; giving

serious consideration to how we may need to adapt or completely change

our business model to sustain our growth and leadership ambitions.

Second , what investment do we need to make in our leadership capital in

2010? - being sure to allow budget for the learning, training and

motivational needs of leaders at every level of our group.

Best wishes to you all for the business planning process. Thank you for

all your efforts through to the end of Q3. Strength and stamina to us all for

a significant push to get an excellent Q4 result to out-perform the crisis

and give us momentum going into 2010.

Sincerely,

Stephen R. Thomas

CEO

Renaissance Services SAOG