Access Asia Jun / Jul 2016: ASEAN - Insights for the Australian Business

Page 1

THE MAGAZINE OF AUSTCHAM SINGAPORE

THE MAGAZINE OF AUSTCHAM SINGAPORE

|

WWW.AUSTCHAM.ORG.SG

|

WWW.AUSTCHAM.ORG.SG

ASEAN INSIGHTS FOR AUSTRALIAN BUSINESS 2016

JUNE / JULY



PRESIDENT’S MESSAGE

Welcome to the mid-year edition of Access Asia. In this issue we focus on the ASEAN region and take a look at how the business landscape has changed with new developments like the creation of the AEC and updates to the Comprehensive Strategic Partnership between Singapore and Australia.

BOARD MEMBERS

ASEAN is a region with great potential for growth and successful investment.

PRESIDENT GUY SCOTT

I recently enjoyed interviewing Chris Pearce from Toll for the Face to Face feature about their plans and why they chose Singapore as their strategic base. Singapore’s position and the ease of doing business here were important factors. Singapore is becoming increasingly well positioned as a hub for investment into ASEAN, and the Chamber is growing its regional outlook accordingly. The Board recently determined seven key initiatives as the medium-term strategic growth platform for the Chamber, and underpinning each of these areas is a recognition of Singapore’s strategic place within the broader region. One of the primary initiatives is to have a greater connection between Australian chambers of commerce and business councils across ASEAN member countries, allowing us to strengthen our advocacy position and better represent the needs of members.

VICE PRESIDENTS ADAM LYLE Padang & Co GREG WILLIAMS Commonwealth Bank of Australia HONORARY TREASURER GRAHAM LEE Pricewaterhouse Coopers HONORARY SECRETARY JOHN DICK DA Partners

I hope to be able to share more details about this with you in the near future.

BELINDA BRAGGS ACS Servtech

Importantly we are also looking to strengthen ties with Australian partners and

IAN CUMMIN BlueScope

continue our advocacy work within Singapore. We are currently finalising a submission to the Singapore Committee for the Future Economy, to provide the Australian business perspective and demonstrate Australia’s commitment and support of a prosperous and vibrant Singapore. This year is shaping up to be another busy year for the Chamber as we continue to build ties between the Australian and Singapore business community, while increasing our efforts to look outwards to the opportunities on offer within the

NIGEL CUMMINGS Sliding Doors Entertainment PHILIP FORREST Honorary Life Member FREYA HONE ANZ DEREK MACKENZIE designphase dba

broader region.

CHRIS REES Austrade

See you at the upcoming AGM on 23 June.

SEAN STRATON Credit Suisse BENJAMIN TAN Qantas Airways FRASER THOMPSON Alphabeta

GUY SCOTT PRESIDENT

ANNETTE TILBROOK AustCham SIngapore

PLATINUM SPONSORS

SILVER SPONSORS

BRONZE SPONSORS


VIRTUOSOS

REQUIRED

g .s du rd fo is.e am a St w.s w sit Vi t w a er st gi Re

FUTURE

FROM 2 TO 18 YEARS OLD The world-renowned Suzuki Violin Program, over 20 music ensembles and the largest instrumental music program in Singapore helps to develop accomplished musicians at Stamford American.

500

seat professional theater

music ensembles

large scale annual concerts

Stamford offers an outstanding international education for students from 2 to 18 years.

We offer the rigorous IB Program – enhanced by

American standards and a focus on languages – to equip your child for global citizenship.

21/2/2016 – 20/2/2020

Stamford American International School CPE Registration Number: 200823594D Period of Registration: August 10, 2014 to August 9, 2018

Inquiry Hotline +65 6653 7907


EXECUTIVE DIRECTOR’S MESSAGE

We are quickly moving into the middle of the year, and the Chamber is continuing to look at new opportunities and areas of interest to our members.

different approach, partnering with other Australian chambers of commerce and business councils around the broader ASEAN region and collating the results to give you a closer look at business in Singapore. We know that many businesses don’t see Singapore in isolation, so as a Chamber we are moving to better reflect this regional outlook. The survey will bring together the results from each ASEAN member country and provide a regional snapshot of the Australian business activity. At the same time that we are looking outwards to the ASEAN region, we are also strengthening our relationships in Australia. I recently returned from three days in Darwin for the Regional Australia-Asia Chambers Forum where I met with many of the peak business organisations in Australia, and had the opportunity to speak to Kate Carnell, the new Australian small business and family enterprise ombudsman. We are looking to foster these relations and further strengthen our ties with the Australian business community and government so we can continue to advocate strongly on your behalf. We will be embarking on our annual Roadshow in the second half of the year and will use this as an opportunity to further cement these relationships as we showcase all that Singapore has to offer Australian business looking to expand into the region. We are also looking at new events, to help keep you up to date with recent changes announced under the CSP as well as current and proposed free trade agreements, including the TPP. In addition to this, we are stepping up our social media presence. You can follow us on twitter @AustChamSG and check out our Facebook and LinkedIn page - AustCham Singapore, to keep you informed with relevant business news from Australia, Singapore and the region more broadly. I look forward to seeing you at an event soon.

ANNETTE TILBROOK

EXECUTIVE DIRECTOR

CONTENTS

Our annual business survey is well under way and this year we are taking a

6

FACE TO FACE WITH CHRIS PEARCE

8

ASEAN ECONOMIC COMMUNITY

13

ASEAN BUSINESS OUTLOOK

14

CSP A WIN FOR AUSTRALIAN BUSINESS

16

ASEAN BUSINESS CASE STUDIES

21

AUSTCHAM’S STRATEGIC PRIORITIES

24 OUT & ABOUT

28 NEW MEMBERS

32 MEMBERSHIP CARD OFFERS

34 NEWS FLASH


FACEtoFACE with

CHRIS PEARCE

C

hris Pearce is the Chief Executive Officer of Toll Global Logistics, based in Singapore as the headquarters for the operations in Asia and Australia. Toll has a presence throughout the region including India across to China, and Malaysia, Indonesia, Vietnam, Taipei and Korea. Originally from Sydney, Chris has been in Singapore since 2014. Tell me about Toll in Singapore, how big is the company and what is your presence across the region? Our business in Singapore is very large, and I think we’d be one of the largest certainly in terms of revenue. We also have a very large operation in Thailand, Malaysia, China, Australia and New Zealand, and in the rest of Asia we’ve got varying levels of presence. We are looking at entry into new countries, and for the last 2 years we’ve seen reasonable healthy growth. We are doing well. We’ve spent a lot of time in getting the business to a point where we can actually drive true value add back to customers. Tell me a little more about Toll City For us it’s a big investment, it’s not that far off being finished. It’s a really impressive facility and the opportunity to get our customers under one roof is really exciting for us. It’s fitted out with the best and the most appropriate technology to enable us to showcase what we can do, and that will assist us with our future growth. So what was the trigger to Toll City that made it a good business case? We want to be in Asia, this is our growth platform. For me, making sure we have a facility here that’s built for the future city of Singapore is vital, because we believe Singapore is a hub for Asia for a whole heap of reasons. It’s just really easy to do business here. In Singapore we talk a lot about the grey tsunami that’s coming our way very quickly. There are less and less workers in Singapore and 6

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

we really do need to be the smart nation. We need to work out how to remove labour from our operations and with Toll City we have a world class facility with world class innovation so we can show people you don’t need to have 100 workers inside a warehouse manually booking orders. We do that well in Australia, and we really want to use Singapore to show case that. Getting some of that knowhow out of Australia that we have developed through necessity is really important. We’ve worked out how to do things very efficiently and if you can get some of those smarts and transfer the relevant ones into Asia I think it makes a great difference. Will the CSP mean much for Toll at the moment? Not at the moment for us, but I think it’s a great thing for small to medium sized players. We have our process in place and we find the Singapore government easy to work with. But I think that’s because we have the size and the infrastructure to deal with it but I think for Australian business more generally yes the CSP is a very good thing. What about the ASEAN? You have a big footprint across the region so how does a body like ASEAN help your business? They’re very important. All the cross border agreements going through now have a huge impact. We often talk about the changes brought about by the free trade agreements because it totally reshapes where people have their manufacturing facilities, their


FACEtoFACE

SINGAPORE “ISWEA BELIEVE HUB FOR ASIA FOR A WHOLE HEAP OF REASONS. IT’S JUST REALLY EASY TO DO BUSINESS HERE

warehouse facilities, what moves where and how they do it. We believe we should be leading the way in helping people understand what it means for their countries. So we are working to build that capability into our business because we see it as an opportunity for us. Tell me about your background? What bought you to this industry? I started off many years ago in engineering and then I moved into manufacturing. I love logistics because it’s such a dynamic business. You’ve got all these industries and you get to get involved in all these organisations who have different strategies and different cultures and it’s a lot of fun trying to work out where Toll fits in and how we can add value for our clients. Logistics is a big growth business and the opportunity in this part of the world is huge, logistics in Singapore is relatively straight forward but the challenges you have in some of the developing countries are enormous. I think you’re right, it absolutely is growing and for companies like ourselves and a lot of the multinationals we are also becoming a lot more relevant. As places across the region are tightening up on their heavy vehicle legislation we become a lot more relevant because we are always compliant, certainly when it comes to things like safety we are generally leading the way and across a broad range of corporate compliance standards.Singapore has different challenges, but they are still challenges. Challenges here are not

Guy and Chris having a chat in Toll’s office.

necessarily around compliance and safety because a lot of that already exists here, so for Singapore its more around the idea of ‘smart nation’, how are you going to do things differently and smarter. And that’s where we think we can make a difference. What’s your view on how the economy will be over the next little while? I’ve got a bit of a different view on this, and there are exceptions to this either by country or by industry, but I would suggest that we have been in this cycle since 1989. The expectation that the good times are returning, I don’t think that’s right. I think every year we go into it saying this will be another doom and gloom year and I think that’s probably right, but we need to adapt and learn how to live within that environment. Businesses need to be flexible and agile and they need to respond and act very quickly. It’s different by country or by sector but I just think that’s the new norm and businesses just have to get used to it. And if they’re not in a place where they can change their form to fit whatever demands are coming they won’t exist in the future. So the opportunities are there, you just have to shape yourselves to take them? Absolutely the opportunities are there and whilst a lot of other businesses are looking to hunker down I do think you still need to take measured risks and I still think that you have to go out there and do things a little differently and find where that value add for customers is and work on that. Also how can we do things smarter and how can we create innovation both in our services and ultimately for our customers. We spend a lot of time in upskilling our organisation in this part of the world and I think we have done a really good job of it. ACCESSASIA | WWW.AUSTCHAM.ORG.SG

7


ASEAN Economic Community

Opportunities in the world’s 7th largest economy

The Association of Southeast Asian Nations (ASEAN), a group of ten diverse nations Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam – has enjoyed remarkable economic progress in recent years. Consider the numbers: if ASEAN were a single country, it would already be the seventhlargest economy in the world. Combined GDP has doubled since 2007 and now stands at almost $2.5 trillion, roughly 20 percent larger than India’s economy today. It is projected to rank as the world’s fourth-largest economy by 2025.

8

ACCESSASIA | WWW.AUSTCHAM.ORG.SG


in investment in infrastructure, housing, and commercial space will also be needed by 2030 in the region – an amount equivalent to 4.5 times the current size of Australia’s economy – creating large new opportunities for Australian construction firms and property developers. The AEC is increasingly dismantling the barriers to serving these customers, although progress varies significantly by sector. For example, cosmetics can be largely thought of as a single market in ASEAN, whereas sectors such as financial services and healthcare remain far from integrated. • Optimizing costs. The AEC provides the opportunities for businesses to reduce costs by exploiting economies of scale in production provided by AEC. The automotive, electronics, and food manufacturing industries have already begun to consolidate production, with potential savings of up to 15 percent of the cost base. There are further potential savings from reducing inventory holdings, eliminating duplicate testing and certification procedures, and reducing supply chain costs. Already many businesses in ASEAN have started to take advantage of these opportunities to significantly improve their cost bases.

The numbers sound impressive, but can we really think of countries with such wide economic disparities as a single grouping? The ASEAN Economic Community (AEC) aims to create a single economic region through promoting freer movement of goods, services, capital, and skilled labour across the region’s borders. The AEC is still very much a work in progress. The official scorecard shows that roughly 92 percent of the 277 priority measures for creating a single market and production base have currently been adopted. However, in many cases, there is a large difference between the adoption of measures and real impact on the ground that can be felt by businesses. Tariffs have been removed on many types of goods, but other types of barriers remain a stumbling block to freer trade, and progress on liberalizing services and investment has been slower. There is no sector today that is fully integrated across the dimensions that matter for cross-border

operations. In the automotive sector, for example, non-tariff measures such as import licensing and other quantity control measures constrain manufacturers’ ability to grow. That said, this is not to say that AEC does not matter for businesses in Singapore. Far from it. In fact, there are two main areas of potential value, which could reduce costs by as much as 30 percent in some industries, and gain access to large new markets: • Gaining access to new consumers. More than 90 million people will move to urban areas in ASEAN by 2030. As the region continues to urbanize and a greater share of the population shifts from farming to manufacturing or service jobs with higher wages, the size of the consuming class could increase by 250 million in ASEAN by 2030. This will create large new markets for consumer products (ranging from financial services to beef), but also for real estate and infrastructure. Some $7 trillion

So this begs the question of what should Australian businesses do to take advantage of AEC? The first step is to understand what AEC could mean in your sector. A recent survey by McKinsey found that only 13 percent of respondents reported that their current strategy reflects AEC, with the biggest share in the logistics sector and some of the lowest in the consumer/retail and telecom/ICT sectors. A useful thought experiment is to think through what would you do differently if ASEAN was one integrated economic region – where would you locate factories, skilled staff, R&D and other key activities? After that, it can be useful for businesses to think through a few shortterm “no regret” moves to take advantage of AEC (e.g., rethinking sourcing of production inputs, exploring new market opportunities), as well as to monitor regulatory developments that will act as key markers for whether larger strategic bets become viable (e.g., investment into a new market). AEC provides a gateway to the world’s 7th largest economy. The question now is whether Australian firms will seize this opportunity.

Author Dr Fraser Thompson Director AlphaBeta

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

9


Before you reach the Hunter Valley, we’ll serve you a taste of it in the air

Enjoy Rockpool inspired cuisine paired with some of Australia’s best wine when you fly with Qantas. Australia starts here.


Why ASEAN and why now? Along with China and India, ASEAN is one of three rapidly growing spheres of Asian prosperity. In this context, ASEAN is very much part of the broader Asian trend of a booming middle class and per capita income, increasingly discretionary & discerning consumer behaviour, rapidly urbanizing, and with heavy demand for infrastructure investment and value added services. Singapore is a key hub for growth in ASEAN and much of the progress over the next decade will be predicated on Singapore being a cultural wellspring of capital, talent, governance and ideas for the region. According to the McKinsey Global Institute, more than half the world’s “consuming class” will live within a five hour flight of Myanmar by 2025. Viewing ASEAN as one integrated market is compelling. It contains well over 600 million people, more than half of whom are under the age of 35 years. It has the third largest workforce in the world, behind only China and India. Over the last decade and a half, ASEAN has enjoyed a sustained period of rapid economic growth and financial stability. This growth has seen member economies double their per capita GDP. ASEAN’s GDP stands at US$2.4 trillion, making it the seventh largest economy in the world (just slightly smaller than all of the UK but bigger than Brazil). Collectively ASEAN is a larger trading partner for Australia than any single country other than China, accounting for 15 per cent of Australia’s total trade with a value of $90 billion. Last year, we published a report on the rise of ASEAN from the perspective of Australian business – Why ASEAN And Why Now. The focus of the report is on six potentially transformative growth drivers and trends. Three of these are monoliths in the ASEAN landscape. •

The advent of the ASEAN Economic Community (AEC) represents a major milestone in the evolution of ASEAN architecture and as such is worthy of serious consideration as part of any business plan which contemplates ASEAN.

Prospective step growth in the services sector across the region is a natural and profound consequence of the stage of economic development ASEAN has now attained.

Emergence of regional business leaders is a by-product of the success of the ASEAN grouping and an ever growing bottom-up force for shaping a future together.

The remaining three are bound together and define the major development challenge the ASEAN grouping confronts. •

The first is to upgrade labour force skills to close ASEAN’s productivity gap.

The second is to reduce barriers and attract investment and associated know how. Foreign investment has a significant part to play here (particularly in infrastructure development), as domestic savings and government revenue are low in many ASEAN member states.

And the third is to upgrade infrastructure on which growth depends.

The opportunities for Australian businesses can be viewed in these contexts – The AEC will mean the ASEAN region will transition – over time from fragmented and sub scale to defragmented with scale – one market, but not characterized by homogeneity and uniformity Connectedness across ASEAN means diversity becomes its strength, blending capital and skills with abundant labour and resources, while connectedness to Asia means a bigger role for ASEAN situated at the heart of an economically vibrant and growing region. We see increased demand for many of the services Australia excels at providing such as higher education, vocational education and skills training, financial services, ICT and telecommunications, and Tourism, recreation and leisure. With the exception of Singapore, at present the services sector contributes less than 50 per cent to GDP across ASEAN developing economies. In most developed economies, this contribution is in the range of 60 to 80 per cent. The expansion of the services sector therefore has the potential to be a major driver of growth across ASEAN. Efficient services are a critical enabler of global and regional value chains, a key theme in the ASEAN growth narrative. In particular, services that help boost productivity will be essential to ASEAN’s future success. The time has never been better for Australian businesses to become “insiders” in ASEAN. Chris Rees

Senior Trade Commissioner - Singapore

Contact us to discuss how our industry specialists can help your business Phone: +65 6418 8400 Email: singapore@austrade.gov.au Web: www.austrade.gov.au/singapore

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

11



CURRENT ECONOMIC ENVIRONMENT The ASEAN is at risk of a more protracted and enduring slowdown. The persistence of lacklustre final demand in the high-income economies, the ongoing slowdown in China, and the rise or protectionist policies in some economies all point to a region where economic risks, with few exceptions, are skewing to the downside.

G3 and China, that trend looks set to continue. This would seem to suggest that a purely cyclical explanation for the trade recession would be sufficient.

The key risk remains an incredibly lacklustre global trade environment. The persistence and depth of the regional trade recession looks to be as equally characterised by its enduringness posing the risk that the trade recession ultimately morphs into domestic slowdowns and/or recessions via income channels. The economies we would view as most vulnerable to this dynamic are Singapore, Thailand, Malaysia and Indonesia. The Philippines stands out as relatively immune given its very strong services sector and the fact that global growth does appear to have a services bias at present.

The varying degrees of exposure of the ASEAN economies to the G3 economies means that the trade slowdown is not felt evenly. A second factor which increases heterogeneity in Asia is the adjustment to lower commodity prices over the medium term. Commodity exporters, such as Indonesia and Malaysia, were particularly punished by this dynamic in 2015, whereas the largest commodity exporters (as a % of trade) such as the Philippines, Singapore and Thailand benefitted. This dynamic is perhaps most apparent in the import figures where the price deflating impact of falling commodity prices make themselves apparent.

The risk of an on-going slowdown centres on how open the ASEAN economies are and the size of trade relative to their GDP. An ongoing trade recession will thus represent an unprecedented drag on export growth (and import growth) of near crisis proportions for an extended period of time. A myriad of causal and associated risks thus present themselves around this outlook. The end-game appears to be an increasingly heterogeneous ASEAN. Indonesia for example has a relatively low trade exposure, but that trade exposure is predominantly in undiversified commodities and is acutely affected by the China slowdown. But will the domestic sector be insulated from an ongoing trade recession? The transmission mechanism of a trade recession to a domestic recession is likely to be via the corporate sector – mainly the non-financial sector, though the financial sector may prove to exacerbate these effects via financial accelerator effects. Medium-term anchors, such as the commencement of the ASEAN Economic Community and the introduction of the Asia Infrastructure Investment Bank (AIIB) should see investment and infrastructure begin to flourish. Currency depreciation is proving to be insulating for domestic income and some ASEAN economies are displaying nimbleness by evolving into what appears to be a more services-oriented economy and the new global services supply chain environment that is developing alongside that. Since peaking in 2010-11, Asian trade volumes and industrial production have generally been following the loss of G3 momentum in a linear fashion. Based on ANZ’s latest forecasts for the

Conclusion: ASEAN risks from an extended slowdown becoming more apparent. One of the most important economic revelations of 2015 was that the Asian trade recession is the result of not only weak final demand but also what could be a structural break in the historical relationship between global income growth and trade growth. That is, the global trade multiplier seems unusually repressed at this time. If this dynamic were to continue then the exporting and production platforms that many ASEAN economies are built upon start to look excessive and the prospect of an extended slowdown in the ASEAN becomes all the more real.

Author Glenn Maguire Chief Economist, Asia Pacific ANZ

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

13


CSP

A WIN FOR AUSTRALIAN BUSINESS Early last month the Australian and Singapore governments announced further details under the Comprehensive Strategic Partnership (CSP), first signed by the two countries in the middle of 2015. AustCham has been advocating strongly for many of the changes and the announcement of the additional details show that both governments have heard the concerns voiced by the Chamber on behalf of our members. Many of the areas where we will see change have been identified as significant roadblocks for business, have created administrative burdens or, as is the case for Australian Universities in Singapore, have caused issues around recognition of quality and services offered. It is clear both countries have things to gain from this partnership, Singapore predominately in the area of defence and Australia in areas around business and education. Through the push and pull of both countries looking to further their own interests in areas of strategic importance, the developments under the CSP have delivered great opportunity for change and improvement. Perhaps most importantly, the developments that assist Australian business have strong 14

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

potential for tangible and real outcomes. The CSP offers genuine solutions to clear problems faced by business. And while the announcement included many areas, of special note were changes designed to increase labour mobility. This promises greater opportunity for the movement of personnel between Singapore and Australia, through important changes to visa requirements. Current issues with visa requirements are creating substantial red tape and increasing the administrative burden on business. These are exactly the things which can create a barrier for those looking to expand into overseas markets, the more red tape increases the risk of businesses putting overseas expansion into the too hard basket. By instituting a two year working visa for employees of Australian companies with a presence in Singapore the governments are removing what was a substantial burden on businesses and a potential roadblock for further expansion into Singapore. These changes are a positive step in developing stronger business partnerships between Australia and Singapore, and it is certainly pleasing to see result from the advocacy work of the Chamber, however

our work is not done. The Board recently determined seven key strategic priorities to set our future direction and to ensure we remain relevant to our members. In a few months we will again travel to Australia for our annual Roadshow, speaking to Australian companies and showcasing what Singapore and the rest of South East Asia can offer business. We will also continue our Australian door knock, engaging with senior political leaders and bureaucrats in State and Federal governments to promote business, advocate key interest issues, educate and inform. Our medium term goal is to grow the Roadshow to create an annual, “open door� Federal Government door knock, with a delegation of Australian and Singaporean businesses having open access to key policy makers in Canberra. We recognise we must continue to build our relationships within Australia, but that we also must keep looking outwards to the broader South East Asian region and at how Singapore is placed within ASEAN. As connectivity between ASEAN member countries increases, Singapore is becoming a more relevant hub from which to access the region. The changes announced under the CSP now make it easier for Australian businesses to


access these markets, and as a Chamber we will continue to be at the forefront of new and emerging areas of opportunity. Currently there is no official Australian business association representing Australian businesses working offshore at the ASEAN level, and with the growing connectivity of ASEAN countries through free trade agreements Australian businesses need to be connected at this regional level. AustCham Singapore is taking the lead, harnessing the support of the other Australian business chambers in the ASEAN region. Establishing an Australian ASEAN association will give us a seat at the table for discussions on policies that will affect our members, and allow us to engage the ASEAN secretariat around matters that affect the ASEAN Economic Community. The next 12 months will be an interesting time for Australia, Singapore and the region more broadly. AustCham will continue to keep you updated with new developments and work to advocate strongly on your behalf.

CSP FOR BUSINESS AT A GLANCE •

Improved mobility and lengths of stay for our business people, including investors/independent executives and contractual service suppliers and their families, and installers and servicers of machinery and equipment.

Commitment to establish a professional services framework to support mutual recognition of professional qualifications. Priority will be given to arrangements for engineers and accountants.

Singapore has guaranteed that Australian financial service providers will be able to provide a range of financial services on a cross-border basis. This includes investment advice and portfolio management services and brokerage services for insurance of maritime, aviation and transport related risks.

Singapore has committed to develop a process for future requests by Australian universities to use the term “University” for a campus in Singapore and to consider feedback on regulatory processes.

Australia will locate one of its five start-up “landing pads” in Singapore to promote innovation and entrepreneurship.

Author Guy Scott President AustCham Singapore

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

15


ASEAN

BUSINESS STORIES

With a total population larger than the European Union or North America, and GDP sitting between France and Brazil as 6th and 7th ranked economies, ASEAN represents great opportunity for business. Performance in the region has been strong, with an average annual growth since 2007 of 5.1 per cent, well above the average rate for the global economy. Singapore is well positioned as a hub from which to access the ASEAN market and with recent developments like the CSP it is becoming easier for Australian businesses to enter the region. AustCham has over 550 member companies and while many of these have a presence across the ASEAN region, others are investigating the market looking to make the move to expand. As ASEAN becomes more connected through the creation of the AEC and increased social and political ties, the opportunities for business are expanding and becoming easier to access. The following are three short case studies from our members, sharing their experiences across the region and what makes them successful. From an Australian insurance company with a history in Singapore going back over 120 years, to an award winning interior design firm responsible for some of the region’s most iconic spaces and a donor-funded development company building critical infrastructure in lower income developing countries, this is a diverse range of businesses all forging their way in the ASEAN marketplace.

16

ACCESSASIA | WWW.AUSTCHAM.ORG.SG


ASEAN BUSINESS STORIES

InfraCo Asia InfraCo Asia Development Pte Ltd (InfraCo Asia) is a commercially managed infrastructure development and investment company that is headquartered in Singapore, and exists to stimulate greater private sector investment in infrastructure in South Asia (Bangladesh, Bhutan, India, Nepal, Pakistan & Sri Lanka) and South-East Asia (Cambodia, Indonesia, Laos, the Philippines & Vietnam). InfraCo Asia funds early stage, high-risk infrastructure development activities by taking an equity stake in sustainable and commercially viable infrastructure projects. These contribute to economic growth, social development and poverty reduction. It steps in where the private sector is initially unable or unwilling to invest. By mitigating early stage development risks, InfraCo Asia facilitates private sector participation and provides an effective approach to bridging Asia’s US$8trillion infrastructure gap. InfraCo Asia CEO, Allard Nooy, said Singapore is the perfect place for the company’s headquarters, as the island state strives to be the infrastructure hub for ASEAN. “Having our headquarters in Singapore means we have fantastic connectivity; a finger on the Asian-investment pulse and an immersion in the myriad cultural flows that shape the business community here,” Mr Nooy said. “We are within a roughly six-hour radius of all 12 of our focal countries. We employ a unique co-development model that sees us working with diverse Joint-Venture partners right across Asia. “Singapore is also known for its strong rule of law, and it has in place a number of tax treaties that enable us to avoid double taxation in some countries where we work,” he said. InfraCo Asia is a company of the Private Infrastructure Development Group (PIDG) www.pidg.org PIDG, established in 2002, is a coalition of donors mobilising private sector investment to assist developing countries attain sustainable infrastructure, stimulating growth and combating poverty. InfraCo Asia is currently funded by three members of PIDG – the Australian Department of Foreign Affairs and Trade (DFAT), the Swiss State Secretariat for Economic Affairs (SECO), and the UK Department for International Development (UKAid).

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

17


ASEAN BUSINESS STORIES

designphase dba Designphase began interior design operations in Singapore in 1981. The firm has witnessed first-hand the amazing transformation of this tiny but important island. In the early days, in the field of interior design, there were only a few Singapore-based designers serving a minute market of multinational offices as hotels were largely designed by foreign firms and shopping centres by architects. As Singapore became more organized, influential and prosperous, the call for professional services (including specialist interior designers) rose and their community strengthened. Coincidentally, Singaporeans began to travel a great deal, for business, education and leisure. Their observations began to inform business and society resulting in greater acceptance of creative thought, higher standards and more refined processes. Over time, Singapore’s brand throughout Asia has become synonymous with design excellence and quality. “Together with our experience and longevity of cultural integration within Singapore and the region, the designphase brand has become closely associated with the first-rate reputation of Singapore.” said Derek MacKenzie, Managing Director of designphase. “It hasn’t all been plain sailing. Weathering the storms of crisis (Asian, global and internal) has taught us a great deal about focus, governance and the weighing of priorities.” Part of designphase’s strategy is to never ‘depend’ on overseas work for survival, and having a robust enquiry in place to assess the processes, responsibilities, deliverables and governing circumstances of each assignment. Derek added that their strong home base has delivered relationships which have precipitated partnerships and collaboration for overseas projects. “The high ethical and professional standards of Singapore clients and consultants provide us with great confidence throughout these assignments.” “Our firm is currently actively engaged in interior design projects in Malaysia, UAE, India, South Korea and USA. The scope of our service is similar in most projects where we provide space planning, concept evolution, detailed design, working drawings and specifications as core activities. All of these activities are carried out in Singapore where our skills and expertise reside. Singapore is well known for its diligent workforce and high integrity.“ “As our reputation permeates the region and the world, Singapore will remain our base. In ‘The Asian Century’, this is certainly an inspiring and convenient location, while efficient, sensible and safe for our business.”

18

ACCESSASIA | WWW.AUSTCHAM.ORG.SG


ASEAN BUSINESS STORIES

QBE With operations in Asia dating back more than 100 years, Australian insurance giant QBE is hardly a newcomer to the region, but is optimistic that trade liberalisation across ASEAN will drive new ways of doing business in the future. Karl Hamman, Chief Executive Officer of QBE Insurance (International) Ltd, Singapore Branch, believes QBE is well placed to leverage its extensive experience across nearly all ASEAN markets. “We’ve been in Singapore for over 127 years. We’re the oldest Australian company trading in Singapore and we understand the region well because of our history. We have very substantial businesses in ASEAN markets,” Hamman said. The nature of the insurance business and how it is regulated in many ASEAN nations means insurers need to have a physical presence, so they can write insurance policies in the country they are issued. Hamman has a positive outlook on the potential for reform under the AEC – especially the development of more uniform financial regulations across ASEAN nations – in terms of lowering operating costs while still growing the business. “In Asia, we’re a commercial corporate insurer and that business can be facilitated anywhere in Asia,” says Hamman. “So if the AEC came about, we could potentially write the business out of Singapore. It would allow us to deploy capital more efficiently and run the business on less capital, so that would be a huge benefit.” Hamman believes QBE is in a good position to take advantage of the strong economic growth anticipated across many of the ASEAN countries over the next five to ten years, most of which will be likely to be fuelled by major infrastructure projects.

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

19


TOGETHER, OUT&ABOUTWE LAUGH We believe happy children make more effective learners

TOGETHER, THE BEST FOR EVERY CHILD We believe happy children make more effective learners. Following the Australian Author Curriculum, we consistently encourage students to strive for academic excellence in a welcoming and nurturing environment.

www.avondale.edu.sg Avondale Grammar School, Phoenix Park, 304/318 Tanglin Road, Singapore, 247979 T: +65 6258 8544 Avondale Grammar School is registered by the Council of Private Education. Registration number: 200514242C valid 14 March 2015 – 13 March 2019.


STRATEGIC

PRIORITIES

AustCham has a strong history in Singapore, and we have worked hard to build and maintain our reputation as a leading chamber of commerce in the region. The AustCham Board is committed to seeking new directions for the Chamber to ensure we remain relevant to our members. The Board has determined the following seven key initiatives as the medium term strategic growth platform.

1 2 3 4 5 6 7

Greater ASEAN Connectivity – Currently there is no official Australian business association representing Australian businesses working offshore at the ASEAN level, and with the growing connectivity of ASEAN countries through free trade agreements Australian businesses need to be connected at this regional level. AustCham Singapore is taking the lead, harnessing the support of the other Australian business chambers in the ASEAN region. Establishing an Australian ASEAN association will give us a seat at the table for discussions on policies that will affect our members, and allow us to engage the ASEAN secretariat around matters that affect the ASEAN Economic Community. Australian Door Knock - Our annual Roadshow will continue to engage with senior political leaders and bureaucrats in State and Federal governments to promote business, advocate key interest issues, educate and inform. Our medium term goal is to grow the roadshow to create an annual, “open door” Federal Government door knock, with a delegation of Australian and Singaporean businesses having open access to key policy makers in Canberra. Committee for the Future Economy – This Committee was set up by the Singaporean government late last year and is tasked with developing economic strategies to support Singapore’s next transformation as a growing and resilient economy into the future. Singapore is unique in its ability to identify and transform itself to pursue opportunities and global shifts. AustCham is actively investigating how best to engage with this committee, to provide insights from the Australian business perspective to demonstrate Australia’s commitment and support of a prosperous and vibrant Singapore.

Comprehensive Strategic Partnership (CSP) – AustCham believes it can play a key role in helping shape the direction of the CSP, educating Australian and Singaporean businesses on the opportunities opened up by the CSP and advocating on behalf of business using the CSP as the framework for accessing key decision makers.

Technology – AustCham will ensure it is at the forefront of current and future technology to make full use of all platforms available to communicate with our members and the broader community. This includes developing a comprehensive social media strategy, ensuring our online content is up to date and of value to our members and creating apps that better connect and communicate with our members. We have set a KPI target of ranking in the top 3 for connections of peer organisations in the region for all relevant social media platforms.

Innovation – Both Singapore and Australia have innovation at the core of their national growth agendas; it’s a key component of the CSP and is a key focus area for Singapore’s Committee on the Future Economy. AustCham will keep members informed of these specific initiatives as well as other relevant developments as they arise.

Partnerships – AustCham will seek to build relationships with peak industry groups in Australia to create better connectivity for our members and further support Australian businesses looking to enter the Asian market. Working in partnership with these organisations will allow us to work together on advocacy issues and further promote the interests of our members.

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

21


Early Years Specialist Education from 2 years old Laying the foundation for lifelong learning

1ST AND ONLY SCHOOL TO OFFER MANDARIN OR SPANISH, WITH DAILY AND BILINGUAL PROGRAMS FROM AGE 2

1ST AND ONLY SCHOOL TO OFFER SMART STEPS AND PERCEPTUAL MOTOR PROGRAM FROM AGE 2

We believe that being multilingual is a key element of global

Our innovative programs exploit the strong link between

citizenship. It fosters cultural appreciation and enhances

the development of children’s gross motor skills and the

communication skills, not only amongst peers here at

physical impact of skills required to help ensure they excel

Stamford American but through life across education, work

in the classroom. This begins with SMART Steps at age

and travel. That is why two of the most widely spoken

2, a highly respected program designed to enhance key

languages globally - Mandarin and Spanish - are part of

movement patterns essential for successful body and brain

our core curriculum from age 2, with a choice of daily and

development. Progression to the Perceptual Motor Program

bilingual options.

at age 3 further develops fundamental skills essential to classroom success.

22

ACCESSASIA | WWW.AUSTCHAM.ORG.SG


1ST AND ONLY SCHOOL TO OFFER SUZUKI VIOLIN FROM AGE 3

1ST AND ONLY SCHOOL TO PARTNER WITH A CELEBRITY CHEF

Music not only helps to develop a child’s senses and self-

Our role at Stamford American is to educate children with

expression it has a direct link to mental development,

the right knowledge and skills to help them make better food

intelligence and memory. Playing the violin is introduced at

choices, which will in turn boost their concentration in the

age 3 and is proven to improve concentration, and combined

classroom. Early Years children enjoy a family-style lunch,

with the Suzuki philosophy of encouragement, listening and

with over 25% organic ingredients and no MSG, trans fat

learning with others, Stamford American children foster

or lard, served in partnership with Celebrity Chef Emmanuel

emotional awareness and creative development.

Stroobant encouraging healthy eating and table etiquette in the early years.

To find out more about Stamford American International School, visit www.sais.edu.sg or call +65 6653 7907

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

23


OUT&ABOUT LAUNCH PAD: UNDERSTANDING AND ACCESSING GRANTS AND FUNDING

VENUE SPONSOR

Wed 20 April & Thu 21 April 2016 Our sold out Launch Pad session saw over 40 attendees over two days. Martin Atchinson and Stefan Focus of Stepping Stone shared their expert tips on helping entrepreneurs identify and access grants and fundings.

UPCOMING EVENTS

UPCOMING EVENTS ANNUAL GENERAL MEETING THU 23 JUNE 2016 SUPPORTING PARTNER 1

2

1. Erica Marcellan, Jason Krueger, Ying Hau 2. Simon Honeybone, Stefan Focas, Susie Macmillan 3. Martin and Stefan sharing with our members.

BUSINESS CONNECTS JULY THU 28 JULY 2016 EVENT SPONSOR

BREAKFAST WITH THE STARS: HE PHILIP GREEN THU 4 AUGUST 2016 VENUE SPONSOR

3

BREAKFAST WITH THE STARS WITH GABRIEL COSTIGAN

VENUE SPONSOR

Fri 22 April 2016 Our young business leaders enjoyed an exclusive intimate breakfast with Gabrielle Costigan, CEO Asia of Linfox Logistics a part of our Breakfast with the Stars series hosted at The South Beach.

WINE & CHEESE NIGHT: A TASTE OF AUSTRALIA & NEW ZEALAND FRI 19 AUG 2016 CO-SPONSORS

1

2

1. Guests enjoy the opportunity to network before breakfast commenced

SUPPORTING SPONSOR

2. Gabrielle sharing her career journey wih our members 3. Sam Gibbins, Gabrielle Costigan, Sally Bell and Stepan Marhoul

3


OUT&ABOUT

BUSINESS CONNECTS APRIL Thu 21 April 2016

EVENT SPONSOR

Over 90 AustCham members and their guests attended our networking evening at Boomarang Bar, Boat Quay. Thank you to John Knox and AdventBalance + LOD for partnering with us for the event. Special thanks to Martin Mcgettigan from Boomarang for his ongoing support.

1

2

3

4

5

1. John Knox of AdventBalance + LOD welcoming guests 2. Candida Braithwaite, Andreas Koch, Duncan Gray and Graham Lee 3. David Ten, Laura Arbelaez, Gary Wong, Alesha Faye, Ivan Lim and Sayonnara lth 4. Robyn and Dale Anderson, Ian Gordon and Annette Tilbrook 5. Lucky draw winner Ingrid Hession with John Knox and John Dick 6. Jean Ang, Emmanuel Bernardos, Belinda Braggs, Patricia Hancock and Ben Pynt 6

7

7. David Holloway and Ben Smith ACCESSASIA | WWW.AUSTCHAM.ORG.SG

25



OUT&ABOUT

BUSINESS CONNECTS MAY Thu 26 May 2016

EVENT SPONSOR

Over 100 AustCham members and their guests joined us at Pan Pacific’s Living Room for an evening of networking. Thank you to Michael Wilde and Gems World Academy for partnering with us for this event.

1

2

3

4

5

1. Guests enjoying an evening of networking 2. Duncan Gray, Tony Gravina, Elodie Nguyen, Priya Panwar, and Daniel Willett 3. Michael Wilde presenting the lucky draw prize to Wayne Salamonsen 4. Kerriann and Daniel Tyson-Jones with Philip Forrest 5. Annette Tilbrook, Stephen Barton, Martin Jenkinson, Jessie Yim and Lily Kamsani 6. Our members catching up over a drink 6

7

7. Mark Morgante and Anthony Ellis ACCESSASIA | WWW.AUSTCHAM.ORG.SG

27


NEW

MEMBERS GOLD CORPORATE MEMBERS

GOLD CORPORATE MEMBERS

ANZ

ANZ

ANZ

ANZ

WENDY CHUNG

DAVID GREEN

MARK HARDING

INGRID HESSION

Business Development Manager www.anz.com.sg

CEO, Singapore www.anz.com.sg

Head of Funds & Insurance, South East Asia www.anz.com.sg

Associate Relationship Director – Expatriate Team www.anz.com.sg

ANZ

ANZ

ANZ

LENDLEASE ASIA

HO GIAO PIK

CHLOE LIM

TONY LOMBARDO

Head of Banks & Diversified Financials Singapore www.anz.com.sg

Business Development Manager www.anz.com.sg

SUBAHSHINI SUBRAMANIAM

RIO TINTO SINGAPORE

RIO TINTO SINGAPORE

BOLD BAATAR

DUNCAN WHITE

MD Sales And Marketing & Marine, Rio Tinto Iron Ore www.riotinto.com

General Manager, Freight Portfolio www.riotinto.com

28

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

Business Development Manager www.anz.com.sg

WESTPAC BANKING CORPORATION

WESTPAC BANKING CORPORATION

DAVID KOH

DYANNE TAN

Head of Corporate & Institutional Banking, Asia www.westpac.com.sg

Senior Relationship Manager www.westpac.com.sg

Chief Executive Officer, Asia www.lendlease.com


CORPORATE MEMBERS CORPORATE MEMBERS AUSTRALIAN EXPATRIATE GROUP

JARRAD BROWN Fee-Based Financial Adviser www.australianexpatriate group.com

BANYAN TREE LANG CO

CLOUDGO

ENTONG INTERNATIONAL

NICK TRAN

RORY FITZPATRICK

JASON KRUEGER

Senior Manager www.banyantree.com/en/ ap-vietnam-lang-co

Managing Director www.cloudgo.asia

Building Consultant www.entonginternational.com

HASSELL DESIGN (SINGAPORE)

HOGAN LOVELLS LEE & LEE

IT CONSULTING & SERVICES

KPMG SERVICES

PAUL SEMPLE

JARED RALEIGH

MAX COLLINS

Principal www.hassellstudio.com

Senior Associate www.hoganlovells.com

Director www.itsc.sg

Partner www.kpmg.com.sg

LEM SOLUTIONS

MALCOLM RAMSAY

LINFOX INTERNATIONAL GROUP

LITMUS GROUP

MEL SYERS Owner & Director www.linkedin.com/company/ lem-solutions

GABRIELLE COSTIGAN CEO Asia www.linfox.com

Lead Partner www.litmusgroup.com

MERCURI URVAL SINGAPORE

MUTANT COMMUNICATIONS

DOMINIC ROHDE

JOSEPH BARRATT

Management Consultant www.mercuriurval.com

CEO www.mutant.com.sg

CHINTAN GANATRA

PHOTOFIT

QUBE PORTS

ELTON YOUNG

MORT DALY

Fitness Coach www.photofit.sg

Regional Manager, Singapore and SE Asia www.qube.com.au

MERCANTILE PACIFIC ASIA

ARUN NARULA Executive Chairman www.mercantilepacific.com

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

29


NEW

MEMBERS CORPORATE MEMBERS CORPORATE MEMBERS

RE/DIGITAL

JODIE COLLINS Managing Director www.re.digital

GET READY TO LEAD To find out more or to enrol w: companydirectors.com.au/icdc 30

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

SECORA PRODUCTIVITY CONSULTING

SINGAPORE SPORTS HUB

THE BRITISH CLUB

ROBERT ABERNETHY

CLIVE SMITH

RONNIE NG

Deputy Managing Director www.sportshub.com.sg

Head Of Sales www.britishclub.org.sg

Director S.E. Asia www.secora.com

The most important chapter of your career Building your career has taken hard work and a lot of planning. Now it’s time to take the next, crucial step. Our International Company Directors Course will equip you with the knowledge to address the unique challenges faced when operating across countries and regulatory frameworks. Immerse yourself in real world experiences, join lively discussions with small groups and gain invaluable understandings from industry insiders. Upcoming dates: Monday 5 to Friday 9 September 2016, Hong Kong Monday 14 to Friday 18 November 2016, Singapore


BELINDA FRASER

HUDSON JOYCE

Executive Director, Team Leader

Subsea Engineer AirSWIFT

CREDIT SUISSE (SINGAPORE)

MARK KENDALL Consultant PADDLECLOUD

ASSOCIATE MEMBERS

STEVE MCKENZIE CONSULTANT ENGINEER

VISITCANBERRA

RYAN MCKENZIE

Director www.visitcanberra.com.au

Civil, Structures, Project Management www.smce.net.au

IAN HILL

GOLD CORPORATE MEMBERS

INDIVIDUAL MEMBERS

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

31


MEMBERSHIP CARD OFFERS PRESENT YOUR AUSTCHAM MEMBERSHIP CARD AND ENJOY THESE BENEFITS

travel QANTAS Complimentary business class check-in for you and your family at the Qantas lounge in Singapore

lifestyle and entertainment THE BRITISH CLUB First 90 sign-ups enjoy a transferable Individual Lifetime membership at only $9,900+ GST

retail EASTERN CARPETS Up to 50% off storewide and a surprise gift with every purchase FLORAL IMAGE Purchase 3 months flower rental and enjoy 3 months free SHIVA DESIGNS 15% discount on purchases over $99

restaurants and hotels ANGSANA BINTAN 30% off best available rate at Angsana Bintan BANYAN TREE BINTAN 30% off best available rate at Banyan Tree Bintan ANGSANA LANG CÔ Complimentary choice of one unlimited inclusion (golf/spa/dining) per day BANYAN TREE LANG CÔ Stay 3 pay 2 Nights with daily breakfast CAPRI BY FRASER 10% off best available room rates and dining CARLTON HOTEL SINGAPORE 20% off total bill at Café Mosaic, Tuxedo and Gravity Bar 10% off total dinner bill at Wah Lok Cantonese Restaurant FAR EAST HOSPITALITY 5% off best available rate with complimentary daily breakfast and WiFi FRASERS HOSPITALITY 10% off best available rate when staying for two or more nights HOLIDAY INN SINGAPORE, ORCHARD CITY CENTRE 20% off total bill at Tandoor and Window on the Park 15% off total bill at Lobby Bar & Lounge MEAT SMITH Exclusive all day happy hour drinks and 25% off all meat platters NOVOTEL SINGAPORE CLARKE QUAY 15% off total buffet food bill only at The Square Restaurant SOI 60 10% off total bill TFE HOTELS 10% off best available rate 32

ACCESSASIA | WWW.AUSTCHAM.ORG.SG


MEMBERSHIP CARD OFFERS

transport and relocation services ALLIED PICKFORDS Two hours complimentary handyman service on moving day

health services DENTAL ESSENCE Special members’ rates for consultations

business services CLIFTONS 25% discount on room bookings COALFACE DIALOGUE Special members’ rates on selected professional development program GEEK TEAM ASIA 20% discount off all your technology support needs RUNNINGSTREAM 50% discount for the first year proprietary Portfolio Program 25% discount on RunningStream courses and seminars SERVCORP Enjoy one month complimentary ‘The Virtual Office’ package

financial services ANZ Application fee waiver for new Australian property loan (save up to USD$750) PAY2HOME Enjoy money transfers to Australia for a flat fee of $15 (save 25%) QBE SINGAPORE 20% discount on personal lines including travel coverage WESTPAC Enjoy $0 establishment fee for new Australian or New Zealand investment property loan (save up to AUD$750)

education BRITISH COUNCIL 20% off all corporate training workshops GEMS WORLD ACADEMY SINGAPORE Priority discounts and preferential Attractive discounts for enrolments in the 2016-2017 academic year SINGAPORE MANAGEMENT UNIVERSITY Receive 5% discount from SMU Executive Development on selected open-enrollment programmes

visit www.austcham.org.sg for full details & conditions ACCESSASIA | WWW.AUSTCHAM.ORG.SG

33


NEWS FLASH FEDERAL ELECTION 2016 The Australian federal election will be held on Saturday 2 July 2016. It is now too late to enrol to vote for this election. You can check if you are enrolled to vote on the AEC website. Online

AGM 2016 The AustCham Annual General Meeting 2016 will be held on Thursday 23 June at 6.00pm. The AGM is an opportunity for us to update you on our progress, and highlight some of our achievements for the 2015/16 year. We will also expand on our future plans and strategic

applications for a postal vote (for those already registered to vote) are also available on the AEC website. Your application for a postal vote must be received by the AEC by 29 June 2016. The Australian High Commission Singapore will be open for in person pre-poll voting on weekdays from 9am – 4pm commencing Monday 20 June until Friday 1 July 2016. The High Commission will also be open for voting on Election Day, Saturday 2 July 2016, from 10am –

priorities for the Chamber as we move into the

5pm. In order to be granted access to the High Commission to vote in

2016/17 year. The evening will conclude with a

person you will need to bring your current photo identification.

networking opportunity supported by Woodside, our partners for the event. This is an important

For more information, visit the AEC website at www.aec.gov.au

evening for the Chamber and we hope to see you

or contact the AEC via email (info@aec.gov.au) or telephone

there.

(+61 2 6160 2600).

Congratulations to Burnt Ends Congratulations to Australian chef/owner David Pynt and the team at Burnt Ends, recently named 70th in the top 100 restaurants in the world. Awarded 17th place in the 50 best restaurants in Asia earlier this year, Burnt Ends have now been recognised as world culinary leaders. Chef Pynt was part of our recent President’s Lunch and Business Awards, working alongside other leading Australian chefs in Singapore. The restaurant opened here in Singapore in 2013, following Chef Pynt’s successful venture in London and has been widely praised for the creative use of seasonal produce and cooking methods including ovens and grills where food is smoked, roasted, or cooked directly on coals for maximum flavour.


Australia’s first bank, Here in Asia. With more than 40 years’ experience in Asia, take advantage of our strong local and regional knowledge and expertise. Whether you’re investing in Australian or New Zealand property, or just need a trusted banking partner in Asia and Australasia, Westpac can help.

Speak with one of our Relationship Managers today. Singapore +65 6530 9898 Hong Kong +852 2842 9888 Visit www.westpac.asia Westpac Banking Corporation ABN 33 007 457 141 AFSL 233713, Westpac Singapore Branch holds a wholesale banking licence is subject to supervision by the Monetary Authority of Singapore. Westpac Hong Kong Branch holds a banking licence and is subject to supervision by the Hong Kong Monetary Authority. Westpac Hong Kong branch also holds a licence issued by the Hong Securities and Futures Commission (SFC) for Type 1 and Type 4 regulated activity.

ACCESSASIA | WWW.AUSTCHAM.ORG.SG

35


Re

pe Boo r ky st er so na ou at lt r w w w. ou r ai s

gi

Results that speak for themselves

.c

IB 2015 Students above IB World Average

91%

Point Average

34.2

29.9

AIS

World Average

ATAR 2015* Students Achieving

Point Average

82.4

68.7

AIS

NSW

90+ ATAR

42% 16.5% AIS

NSW

AIS is the world’s most popular Australian International School for children aged 18 months to 18 years old, offering the best of the Australian curriculum and the International Baccalaureate.

www.ais.com.sg +65 6653 7906

19/2/2016 – 18/2/2020

Australian International School Pte Ltd is registered by the Council for Private Education. CPE Registration Number 199204405H. Period of Registration 6 July 2015 to 5 July 2019 *Including IBDP and HSC students excluding non-university bound students

om

.sg


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.