Issue 21 – June 2016
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cover story A Facilitator of Knowledge and Expertise Interview with Dr Silvio De Bono, Managing Director, Idea Management Consulting Services Ltd.
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CORPORATE INTERVIEW A Client Focused Culture Mark Bugeja, Managing Partner and Head of Assurance Services, tells us why offering a solutions driven cost effective service is paramount
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Special INTERVIEW Learn, Change & Grow An exclusive interview with the eternal entrepreneurial impresario Frank Grima
44 FoCUS
Embracing the Same Objective Interview with Matthew J. Mercieca, Founder, Senior Architect & CEO with Matthew James Mercieca Design Architects Newspaper Post
Malta Business Review
MALTA’S BEST
ENTREPRENEUR OF THE YEAR AWARDS
2016
SmartCity Malta | Friday, 29th July
DEVELOPING TALENT, ENCOURAGING
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Celebrating 5 Years of Entrepreneur Excellence
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INFO
For further information please contact Margaret Brincat M: 9940 6743 • margaret@mbrpublications.net Martin Vella M: 9926 0162 • martin@mbrpublications.net
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For further information please contact Margaret Brincat M: 9940 6743 • margaret@mbrpublications.net Martin Vella M: 9926 0162 • martin@mbrpublications.net Steve Garrett M: 9926 0166 • events@mbrpublications.net
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PuBLisher MBR Publications Limited editor Martin Vella teChniCaL advisor Marcelle D’Argy Smith saLes direCtor Margaret Brincat design Evgeni Anastasov, Jacqueline Muscat advertising Call: 9940 6743 or 9926 0163/4/6; Email: margaret@mbrpublications.net or admin@mbrpublications.net ContriButors Antoine Bonello; Stephanie Borg; Rochelle Beighton; Nolliag Mac an Bhaird; David Cameron; George Carol; Andrew Clark; Barak Kalir; Jean Paul Demajo; David Sadler Smith; Damian P. Xuereb sPeCiaL thanks Databyte; DOI; Jobsplus, Employment Training Corporation; Grant Thornton; HSBC; Industrial Property Registration Directorate; Magro Bros Design Group; Matthew J. Mercieca Design Architects; MALTCO Lotteries; Ministry of Finance; Multi Packaging Ltd; Nexos Lighting; SmartCity Malta; Simon Estates; WH Partners Print ProduCtion Printit offiCes Highland Apartment - Level 1, Naxxar Road, Birkirkara, BKR 9042 teLePhone +356 2149 7814
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COVER STORY
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A Facilitator of Knowledge and Expertise
Interview with Dr Silvio De Bono, Managing Director, Idea Management Consulting Services Ltd.
ERC Story
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Dealing with Irregular Migration in the 21st Century
Barak Kalir debates on a hotly debated issue not only in Europe about the treatment of irregular migrants
CORPORATE INTERVIEW
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A Client Focused Culture
Mark Bugeja, Managing Partner and Head of Assurance Services, tells us why offering a solutions driven cost effective service is paramount
TALKING POINT
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Together we are against Corruption and Together we can defeat it
Outgoing UK British PM David Cameron, in one of his last instalments, tells us why corruption is the cancer at the heart of so many of our problems in the world today
SPECIAL INTERVIEWS
quote of the month “Rely on your own strength of body and soul. Take for your star self-reliance, faith, honesty and industry. Don’t take too much advice — keep at the helm and steer your own ship, and remember that the great art of commanding is to take a fair share of the work. Fire above the mark you intend to hit. Energy, invincible determination with the right motive, are the levers that move the world.”
Noah Porter
Disclaimer All rights reserved. No part of this work covered by copyright may be reproduced or copied and reproduction in whole or part is strictly prohibited without written permission of the publisher. All content material available on this publication is duly protected by Maltese and International Law. No person, organisation, other publisher or online web content manager should rely, or on any way act upon any part of the contents of this publication, whether that information is sourced from the website, magazine or related product without first obtaining the publisher’s consent. The opinions expressed in the Malta Business Review are those of the authors or contributors, and are not necessarily those of the editor or publisher.
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Learn, Change & Grow
An exclusive and engrossing interview with the eternal entrepreneurial impresario Frank Grima
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The Ultimate Learning Experience
Nolliag Mac an Bhaird talks us through St Edward’s College, explaining the benefits and values which makes this unique college more than the traditional educational experience
OUR GOLD PARTNERS
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CONTENTS 24
Embracing Traditions, Innovating to Add Convenience
Malta Business Review interviews John Magro, Managing Director of Magro Bros Group, who are celebrating their 100 year anniversary
Special Feature: Women Leaders
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Nurturing Educational Relationships
Rebecca Bonnici, Managing Director with BELS, reveals why she has a deep passion for education and learning with over ten years of operational and leadership experience
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Where are Malta’s Women Leaders?
Damian P. Xuereb wrote this article in 2013, but it never found its way to the press, until MBR Publications Limited picked up on the controversial subject!
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Work, Risk & Sacrifice
We interview Christine Pace, Managing Director at Dorkins & Fashion Limited, as she demonstrates the power of desire and great business smarts
FEATURES & Monthly Interviews
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Malta-LIBYA-TUNISIA-ALGERIA-MOROCCO Trade FAIR & b2b networking forum
We highlight the significance of the B2B Networking Event, bringing over 400 business leaders from eight different countries
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Embracing the Same Objective
Matthew J. Mercieca, Founder, Senior Architect & CEO with Matthew James Mercieca Design Architects shares his viewpoints on the past, present and future of architecture in Malta
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Malta’s Best Entrepreneurs of the Year 2016
We present the first group of this year’s nominees for the most coveted business awards in Malta, as we celebrate the 5th anniversary of these prestigious awards
Special Feature
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SmartCity Malta- A Unique Work and Lifestyle Destination
MBR Publications Ltd brings its readers with an exclusive take on SmartCity Malta, and why it is a unique development that balances office spaces with unique lifestyle elements
EDITORIAL By the time this publication goes to print, the British would have voted whether or not they want to remain member of the EU. That the outcome maybe a forgone conclusion of BREXIT which will have severe repercussions and shock waves throughout the EU establishments and financial institutions will be beyond any reasonable doubt! Nevertheless, whatever and however negative those implications will be, one has to still fathom. Is BREXIT, short for a British exit from the EU, predictably irrational? Not really! This is part of “the price of inequality”. One could also call it a logical consequence of the preponderance of the “establishment”. All the politicians, economists, bankers, business tycoons and celebrities have been warning “the people” about the dire economic consequences. They were right, that it could have quite great consequences – for themselves! They forgot that they are mostly part of that infamous one percent. These were arguments which hardly fazed the “little guy” who is part of the other 99 percent. He did not wake up in shock this morning realising that the British Pound would or has lost almost thirteen percent against the US Dollar – he/she pays for the loaf of bread with the pounds he/she has left in the pocket. OK, some have planned a USA vacation this summer – how did they vote? They do not have to worry about falling stock prices because they do not own any. But maybe now housing prices in the cities may become more affordable again. May the lessons be learnt that nothing has to be taken for granted and that there will always be the likes of ambitious extreme politicians and supporters such as Boris Johnson and Nigel Farag, who are prepared to spread a web of untruth, falsehood and deceit in order to attain their objectives, and in the process disrupt a whole process of EU unity, fraternity, freedom and democracy, which have in past been won through bloodshed and wars, lest we forget. This is a fist time that a EU member state decided to leave the EU and the political ramifications will be enormous. One might be horrified at the thought that BREXIT is a victory for the populists. The right wing parties all over Europe will love this, and Mr. Trump in USA also. Even Putin in the Kremlin will bask in joy over the division and loss of market shares this may cause. However, more than a victory of the populists, this is a declaration of bankruptcy of “the establishment”. This was a clear vote that “the people” are beginning to understand that progress is to the benefit of a few and they are being left behind. We can expect more of that to come. I would advise all traditional political parties to fasten their seat belt! As the EU weaves further into uncertainty, I hope you find this bumper issue one of the best read of the month!
Martin Vella
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Malta Business Review’s editorial opinions are decided by its Editor, and besides reflecting the Editor’s opinion, are written to represent a fair and impartial representation of facts, events and provide a correct analysis of local and international news. Agents for:
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Malta Business Review
COVER STORY INTERVIEW
A Facilitator of Knowledge and Expertise By George Carol
Dr Silvio De Bono, Managing Director, Idea Management Consulting Services Ltd, talks with MBR about the significance of why a purpose driven organisation has to look for ideas and innovation in order to remain at the forefront of competition. MBR: When you look at the effort you have put into IDEA Management Consulting Services Limited , while you have tremendous business pressure and your time is pulled in many directions, management consultancy and advisory is such a core part of who you are. Would you talk about where that desire to give back came from? SD: Management Consultancy has really become part of me, or to be more correct it has been for almost a quarter of a century. I started off assisting leading consultants in carrying out odd work like interviewing and data collecting. Eventually I learned the ropes of analysis, which led me to start consulting after a long preparatory period. In addition, it was also necessary to prepare myself academically and technically. MBR: IDEA Management Consulting Services Limited (IMCSL) were awarded with the Award in Human Resource Development and Management. What significance does this award hold to you and the company? SD: I have been involved in training and development for the same number of years I have been in consultancy. It was therefore a natural step to set IDEA Leadership and Management Institute, which is fully accredited by the National Commission for Further and Higher Education. The Institute today offers a number of Higher Diploma Programmes and a wider number of awards. The Award in HR is probably our flagship since I have been actively involved in HR for a long period of time. MBR: How does IMCSL design and deliver solutions for career enhancement, critical talent management, increased flexibility/ choice and retention? 06
SD: IDEA Leadership and Management Institute strive to help its clients in identifying the correct training and educational requirements. In doing so, our main interest is not to sell programmes but rather to help employees develop their full potential in order to enhance their career, develop their talent and become more employable.
intensity. Corporate strategic projects give the consultant the long-range perspective while short term projects are generally more results oriented over a shorter period of time. In both instances, the Consultant is required to show determined leadership skills and vision. The rest of the team needs to be part of the success. The Consultant on his and her own will not get the results.
Being a good Consultant is not being dogmatic but rather a facilitator of knowledge and expertise
MBR: What is the differentiating factor of your firm’s consulting arms offering on advisory services, and what distinguishes your consulting culture?
MBR: Can you tell us how does working on strategic projects give you more exposure to several leadership teams and what benefits do you derive? SD: Over the years we have worked on a number of projects ranging in size and
SD: Our pride and joy is to work with the client and not for the client. This implies that in developing our plans we ensure that the client and the respective employees are an integral part of the actions to be taken. Being a good Consultant is not being dogmatic but rather a facilitator of knowledge and expertise. The role is to facilitate workable solutions with clear actions and results.
COVER STORY INTERVIEW
Malta Business Review
MBR: Can you walk us through your training and development programmes? SD: As already pointed out, the Institute offers a gamut of training and educational courses. Our focus is management programmes with different specialisations. We offer specific diploma programmes in Business Management and Human Resource Management and Development as well as a series of awards and off the shelf training in different areas ranging from project management to financial management, from customer care to dealing with different people from Quality to ISO standards. MBR: You are known to be results-oriented. With so much need out there, was it important as your skills and techniques evolved to hone in on specific areas where you could make the most impact? How are you effective when it comes to management? SD: We are paid to get results. In doing so the role of the Consultant as the leader to identify the best leadership fit at a particular point in time. There is no one perfect style of leadership but a series of different styles and methods depending on the situation. The development of situational leadership theories reinforces this idea. MBR: You are strong on the benefits of marketing, lecturing and presentations, especially bringing a learning curve to corporate marketers early in their lives to get them interested. With the many cuts in this area today, how critical is it that focus on the event presentations be maintained for C-level executives and is the dialogue there to encourage it? SD: There is no correct formula how to do this. Way back in my career I met a very interesting person who told me that the formula for
Dr Silvio De Bono delivering a presentation at the Customer Experience B2B Networking Forum 2016
success is based on the ability to interact with others. This led me to move from personal passion to compassion, the difference being the drive to share knowledge and experiences. Holding knowledge and information does not get you anywhere. This may sound as a contradiction but withholding knowledge does not make you more competitive.
purpose driven makes one want to achieve more, whether these are business opportunities, contacts, new ideas and so on. A purpose driven organisation looks for ideas and innovation how to remain at the forefront of competition.
So the role of the Consultant as the leader is to identify the best leadership fit at a particular point in time
SD: In the course of the past years I have coined the idea of anticipatory leadership. Research clearly shows that good leaders are those who manage the organisaton for future generations and not for present ones. Being reactive is definitely out the question, being proactive is also part of the past. Being anticipatory leader implies that you are constantly ahead of time. MBR
MBR: IMCS is known as a purpose-driven organisation. Some say that purpose is difficult to measure. How does an organisation measure purpose? SD: Each organisation should be driven by a set of objectives, whatever these may be. The purpose should above all be achievable since otherwise it will serve no purpose. There are a number of buzz words which are commonly used to measure objectives and purpose. However, from past experiences, I think that the best way to do so is to measure against your personal satisfaction. This is what matters after all. MBR: Does being a purpose-driven organisation help drive new business opportunities? SD: There is very little doubt that being
Testimonial We as a company have been working with Idea Management for many years for business consultancy to tailor made training courses. I would highly recommend Idea Management for training and developing staff knowledge and confidence on various business related subjects. Idea’s Tutors are knowledgeable. Our staff were always very eager to attend training courses provided. We as a company benefited as staff became very motivated and even more successful and professional in their duties. Dr. Silvio De Bono presenting an award certificate in HR
Ron Mifsud Managing Director – Repro House
MBR: How will a focus on purpose influence the next generation of leaders?
EDITOR’S NOTE Dr Silvio De Bono graduated Doctor of Business Administration from Maastricht School of Management specialising in Organisational Behaviour and Organisational Development. De Bono also holds a Master of Philosophy from Maastricht School of Management and a Masters Degree in Human Resource Management from the University of Malta and other managementrelated undergraduate degrees. He is the author and co-author of mangement related of management books and management articles. He lectured for Maastricht School of Management and Grenoble School of Management in Change Management,. Organisational Development and Transformation, HR Management Issues. He currently lectures at the University of Malta in HR and Research Methods. He has gained professional international experiences in Europe, Asia, Africa, South America and the Gulf. His research interests are in strategic human resource management and development, managerial competencies, leadership and change. He also carries training programme in industry in Malta and abroad.
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Malta Business Review
ERC Story
The treatment of irregular migrants is a hotly debated issue not only in Europe but all over the world. In the face of increasing flows of migrants and refugees, many countries have adopted restrictive policies that often include the deportation of undocumented migrants to combat “illegal migration”. Dr Barak Kalir brings an anthropological perspective that could help explain how deportation policies are implemented and why their implementation mostly fails.
Dealing with irregular migration in the 21st century By Barak Kalir The starting point of this research project is the disproportionality between the alleged “crime” of being an undocumented migrant and the sanction of deportation. But what determines the ways in which deportation is being implemented on the ground? What are the factors that prevent or expedite implementation? Dr Kalir’s research team is carrying out extensive fieldwork to compare the implementation of deportation strategies in four democratic countries, all signatories to relevant international conventions: Greece and Spain, the first destinations for migrants seeking to enter the European Union; Israel and Ecuador, both interesting case studies for their fundamentally different approach. According to the team, Israeli deportation policy is highly restrictive while Ecuador has one of the most progressive deportation regimes in the world which includes close partnership with civil society. While current studies focus either on the laws and procedures of the host country or on the networks and survival strategies of irregular migrants, this project adds a different perspective. It explores
the in-between actors who deal with undocumented migrants on the ground: on one hand, police agents, asylum service officers, local authorities, in charge of locating, detaining and deporting people; on the other hand, civil society organisations, human rights movements, religious organisations, which assist and at times also protect them.
This comparative study will provide findings of vital importance that could lead policy-makers and actors in the field to find alternative approaches in dealing with the realities of irregular migrants nowadays. MBR Creditline: European Research Council Photo: Getty Images
PROJECT • DEPORT REGIMES • DETAILS Researcher (PI): Host institution: Project: ERC call: Max ERC funding: Start date: End date: 08
Dr Barak Kalir Universiteit Van Amsterdam, Netherlands The Social Life of State Deportation Regimes: A Comparative Study of the Implementation Interface Starting Grant , ERC-2013-StG, panel SH2 1,488,410 € 2014-03-01 2019-02-28
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Malta Business Review
CORPORATE INTERVIEW
A Clien Mark Bugeja, Managing Partner and By Nick Bilocca
MBR: How significant is the role and position of Grant Thornton Malta with the local financial services and advisory sphere? MB: Grant Thornton plays a very important role in the local market and this is largely a reflection of Grant Thornton’s role internationally. The market we operate in is to a certain extent dominated by the four largest firms and this has created a situation of concentration in the market which is of concern to regulators. This was one of the reasons which triggered the audit reform in the European Union led by Commissioner Barnier. MBR: The EU directive which resulted from the reform, which coincidentally is being transposed into Maltese law in these days, is intended to open up the market to more players. Although the reform presents a number of challenges, there is no doubt that this will give Grant Thornton the possibility to make inroads into the market. MB: Coming to our position in Malta, we have the advantage of focusing on growing organisations and on businesses which come up with innovative ideas. We believe that we can help such organisations unleash their potential and this is why we have been supporting initiatives like crowd funding for several years. Grant Thornton has also recently 10
been appointed as a corporate adviser by the Malta Stock Exchange for Malta’s new SME listing product, Prospects. And of course we have a fully-fledged unit which can help businesses source EU funding and provide related advisory services. We believe that these financing platforms provide opportunities for our growing businesses particularly at a time when obtaining traditional sources of finance is very difficult.
We need to keep investing in training our people and in developing the necessary tools to help us deliver top notch services. MBR: What is it that sets Grant Thornton apart from competition and what is the differentiating factor? MB: One of the most distinguishing features of our service is the time and the level of involvement that partners and managers dedicate to clients. We have had many situations where new clients point out that the attention they get from our top people is much more when compared to what they used to get from their previous service provider. Although this comes at a considerable cost to the firm, it lies at the basis of our philosophy, since it ensures that our clients get the best service
possible. This philosophy is found in all Grant Thornton member firms worldwide so much so that our partner to professional staff ratio stands at 1:10 compared to 1:15 in the four largest firms. We consider this to be a key factor in ensuring that we deliver high quality services to our clients. We also get positive comments about our culture and work environment from people joining our team from other firms. Despite the everyday pressures we face we do our best to see that our people have a fruitful and enjoyable experience at Grant Thornton. MBR: Can you tell us how Grant Thornton Malta evolved as more opportunities have come in? MB: I think that Grant Thornton in Malta evolved in the same way as the other firms in Malta. We need to remember that before the advent of financial services which started in the early 1990s, most of the companies in Malta were family owned business of various sizes and foreign owned companies which had chosen Malta as their manufacturing base. There were also a number of Government owned entities which required accounting and auditing services. At the time the Malta Stock Exchange did not exist and therefore there were no listed entities. As a result the demand was for relatively simple and straight forward services.
CORPORATE INTERVIEW
Malta Business Review
t - F o c u s e d C u lt u r e Head of Assurance Services, tells us why offering a solutions driven cost effective service is paramount. At the same time we have seen tighter regulation coming in and the introduction of more complex accounting and auditing standards. This, whilst putting a strain on our resources, also creates opportunities for offering new services to clients. We have also seen an increased use of IT which created more demand for IT services. The market and regulatory pressures being felt by businesses is also pushing them to seek our business risk services such as internal audits and system audits. Last but not least, being at the start of a new EU programming period we have new opportunities to help clients obtain EU funding and for the first time to participate in EU wide tendering processes issued by the European Commission for the provision of professional services. It is therefore not surprising that the advisory and tax services lines of most firms, including Grant Thornton, have grown in recent years both in absolute and relative terms when compared to audit and accounting. I believe that those will remain growth areas in the future and therefore we need to keep investing in training our people and in developing the necessary tools to help us deliver top notch services. MBR: What is notable about your recent merger and how did this merger come to be? What are the benefits to having such a merger? MB: We saw the merger with EMCS, which came into effect in November 2014, as a great opportunity principally because it enabled us to broaden our range of services on the advisory side of our business and to create synergies between our tax and regulatory teams.
are structured in the most tax efficient manner having regard to local and foreign tax regimes. The regulatory side is also facing pressure from increased oversight and more onerous requirements that are being introduced internationally to respond to new situations that emerge from time to time. Unfortunately these pressures come at a significant cost which, many times, cannot be passed on to clients.
Grant Thornton has also recently been appointed as a corporate adviser by the Malta Stock Exchange for Malta’s new SME listing product, Prospects Our tax and regulatory partners regularly participate in local fora and in events organised by Grant Thornton International. We encourage these initiatives since they bring into our firm new ideas and experiences of fellow practitioners from Grant Thornton and other organisations.
coming our way. We are also encouraged with the results we are getting from our investment in our marketing and business development functions which are essential to ensure that more people become aware of our service offering. Naturally, all this needs to be accompanied by better and larger office facilities. We are currently operating from two separate offices but intend to move under one roof in the shortest time possible. Alongside these initiatives we are taking a more active role in our international organisation through our involvement in various committees and fora. There are service areas where we can do more and others we need to invest in. Grant Thornton is facing challenging and exciting times, and has many opportunities coming its way. It is up to us to take them. MBR
For more information contact us on: Tel: +356 21320134 Email: grantthornton@mt.gt.com Website: www.grantthornton.com.mt
Despite these challenges these remain high growth areas which deserve continued trust and investment. MBR: Some would say this is a large firm, but it has a very intimate feel. How do you keep that edge? MB: I think that this is one of the biggest challenges we are facing. Our close contact with our people and clients has proved to be successful over the years but this is now being threatened because of the growth we are experiencing.
We have always believed that having added muscle in the market helps and we have most certainly achieved that goal.
However, I believe that with a bit of effort we can still retain the familiar and informal atmosphere we are proud of and which our people are accustomed to.
MBR: Can you explain Grant Thornton’s role in the tax and regulatory industry, how the market is changing and what are the opportunities for growth?
MBR: How strong is Grant Thornton today and what is vision for the company, highlighting some of your plans for the future?
MB: Tax and regulatory are two other important area of our business and areas where we, like other local firms, are facing huge challenges. Malta’s tax system has been under the spotlight for some time and is expected to remain so for some time. Our tax team continually strives to ensure that our clients’ affairs
MB: Although Grant Thornton enjoys a good reputation and strong positon in the market, we have a number of hurdles to surmount. Most pressing is the need to have more and better trained people across all the service lines. We have invested heavily in our People and Culture team and are already seeing good result
EDITOR’S NOTE Mark Bugeja joined the audit and investigations department of Grant Thornton’s audit and investigations department in 1987 and was admitted partner in 1993. He became Managing Partner in 2013. Early on in his career, Mark was seconded to the then Deloitte Haskins & Sells offices in Turin, Milan and Florence, Italy. Mark specialises in auditing and has extensive experience of high-profile clients in Malta, Italy and other countries across a broad range of industrial and service sectors. His responsibilities include the audits of large international groups of companies. Amongst others, he is the partner in charge of the audit of a US subsidiary in Italy and has reviewed work performed for Grant Thornton offices in the United States relating to SOX 404 requirements and other assurance services. Mark holds a Bachelor of Arts (Honours) Accountancy degree from the University of Malta and a Masters degree in Business Administration (MBA) from Henley Management College UK.
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Malta Business Review
Talking Point
Together we are against corruption and together we can defeat it By David Cameron, Prime Minister of the United Kingdom Corruption is the cancer at the heart of so many of our problems in the world today. It destroys jobs and holds back growth, costing the world economy billions of pounds every year. It traps the poorest in the most desperate poverty as corrupt governments around the world syphon off funds and prevent hard-working people from getting the revenues and benefits of growth that are rightfully theirs. It steals vital resources from our schools and hospitals as corrupt individuals and companies evade the taxes they owe. It can even undermine our security, as Sarah Chayes argues in her essay, if the perceived corruption of local governments makes people more susceptible to the poisonous ideology of extremists. The longer I have been Prime Minister, and the more I have seen in this job, the more I believe that we cannot hope to solve the big global challenges of our time without making a major dent in the whole cycle of corruption. If we continue to hide from this problem, how will developing countries blessed with natural resources ever break out of the poverty trap? How will we stop people from risking their lives to cross the 12
Mediterranean unless we enable them to build a better life back at home? In the end, we have to deal with corruption if we are to have any hope of a truly prosperous and secure future.
How will we stop people from risking their lives to cross the Mediterranean unless we enable them to build a better life back at home? Furthermore, people actually want us to deal with this problem, every bit as much as they want us to tackle issues like poverty and migration. They want the law to be upheld and they want the corrupt to be punished, with justice and recompense for those who have suffered. Yet while corruption is such a huge problem, the national and global efforts to deal with it are often weak. No country has a perfect record on these issues – and so there is a hesitation in raising them. For too long there
has been something of an international taboo over stirring up concerns. For too long it has just been too easy for those in authority to ignore or pretend not to know what is going on. As David Walsh puts it in his essay: this “longing to indulge the irresponsibility of not knowing” has been the rock upon which corruption is built. I profoundly believe that this has to change – and it has to change in every country. Make no mistake, corruption affects us all, Britain included. From tax evasion and overseas territories who have been accused of hiding the proceeds of corruption, to an MPs’ expenses scandal that tore at the fabric of the world’s oldest democracy, we have our own problems and we are very much still dealing with them. That is why I have made tackling corruption such a political priority. From the 2010 Bribery Act to becoming the first major country in the world to establish a public central registry of who really owns and controls companies, I am determined that we should do everything we can to demonstrate leadership on these issues and put our own house in order. Continue on page 22
Corporate Interview of the Month
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Higher EDUCATION Education HIGHER
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corporate interview
LEARN, CHANGE, GROW Interview with Frankie Grima (City Lounge)
by Martin Vella
Everyone knows Frank Grima as a successful entertainment businessman and restaurant entrepreneur. But not everyone knows of Frank Grima the entrepreneurial impresario. In this exclusive interview Mr Grima discloses a personal metamorphoses, which has made him a serene and better person. As I interviewed Frank at his latest restaurant venture in Valletta, in the alluring ambience of City Lounge, I was smitten with the modest and sincere replies Frank gave of an astonishing story about an extraordinary journey of entrepreneurship, where dreams, concepts, quality and tenacity of purpose are supreme. I enjoyed interviewing Frank about his latest projects and his ambitions to create, innovate and achieve. I learned a lot from the exchange. He challenged my thinking and he boosted my confidence in the future of our Capital City, Valletta, if we, as a nation, can get committed to simply doing the right things right. MBR: Let’s start with City Lounge. Why did you choose Valletta and why did you choose this location, in the heart of the city? FG: The fact that Malta was awarded the prestigious European Capital of Culture 2018 led not only to a cultural regeneration and a strengthened buinsess sector in Valletta, but was also being recognised on a European level as the policy needed to dignify our historical heritage and our identity. This project drew lots of interest from business people like myself. It seems that people are looking at Valletta as a new trend and people like me will always follow such trends. I managed to find a very good location in the heart of the City, right in St George’s Square, which is quite unique, with its terrace facing Parliament Square, and because I found this kind of location, I opted for this venture. MBR: But what was it that motivated you to do this? FG: What motivated me was the fact that Valletta is an up-and-coming place and even though I do have business interests in Paceville, I don’t consider myself a Pacevilleman anymore. I am looking at selling my places of entertainment in Paceville and moving with the trend; slowing down and opening more lounges and restaurants. Valletta, for me, is the new enterprise, and I have many more projects in mind as far as this city in concerned. MBR: What does City Lounge offer your distinguished guests? What’s on the menu? What’s the choice preference for people who come here? And, what else does it offer to people who want a night out? 16
FG: City Lounge is both a lounge and a steakhouse. We also offer fish and pasta, but it’s mainly a dedicated steakhouse. People may come here and enjoy a lunch or dinner, but may also come here to enjoy a drink in a lounge-setting environment with an exceptional view of the Palace square from the terrace. So, one doesn’t have to eat. People may come here for a bottle of wine, a cocktail, a whiskey; whatever one likes really. We also gave special attention to the interior décor, which is striking and oozes relaxing ambience. We specialise in steaks. We have been in the steakhouse business for sixteen years, with our venue in Portomaso, Buffalo Bill. So the steakhouse business is one I’m familiar with, one I know and one I have studied well. MBR: What made you move from the entertainment scene to this type of investment? That is, what propelled you to your current business venture here and beyond?
Valletta, for me, is the new enterprise, and I have many more projects in mind as far as this city in concerned FG: First of all, I am not getting any younger. I haven’t been to the bars and clubs in the evening for five years now. I have still got an office in Paceville, but I am going to be moving that to Valletta too. I am even living in Valletta. I have another two projects in the pipeline here in Valletta, which are subject to permits being issued, but although I said I am moving out of Paceville.
MBR: So it’s still all within the food and beverage sector. FG: That’s right! Food and beverage. MBR: But do you have other things in mind with regards to your investments and business? FG: I have another large project in mind and we have already applied for permits with MEPA on that front. I cannot tell you what the project is about at this stage, but I will say that it’s a large project, that it’s also subject to permits, and that it’s a coastline project. We are also working on a 7,000 square metre Vietnamese style resort consisting of part beach, part restaurant and part softentertainment area. But it will be a very casual place. MBR: What do you think are the ingredients to setting up a place of business like this and making it run successfully, in the heart of Valletta? Because, as you know, Valletta is a little bit quiet in the evenings. So, what are the success factors as far as City Lounge goes? FG: I cannot call City Lounge a success story as yet, because we are busy, but not that busy. It’s still picking up and we are still working on making it better. Valletta is going to take another three to four years to develop in terms of our sector. There are more things that need to be done to Valletta for it to be successful. The main thing is a parking area, which at the moment is lacking. If the parking will happen, then Valletta will happen. Without a place for people to park, I am afraid, Valletta might decrease in popularity. So, unless there’s investment in parking, all this hype surrounding Valletta might dissipate in my opinion.
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Malta Business Review
MBR: What were the challenges you faced when it came to working in Valletta? FG: The challenges to working in Valletta are an extreme when it comes to trying to build a place during working hours; with trying to choose a theme according to what people want… I conducted a little bit of research with lawyers and business people, regarding what they expect from a venue in Valletta, and I got some good feedback. Everybody seems to like a nice décor these days and needless to say, décor doesn’t come cheap. So you have to spend a little bit of money. I am happy that the public, in general, seems to like the décor and the place more generally, so I am happy with the response at the moment. MBR: And how does all this tie in with your lifestyle and the fact that you have settled down to a more relaxed way of living? FG: Good question. My lifestyle has changed dramatically. I used to be a night person, meaning that I used to go home at around four or five in the morning, after closing, and wake up in the afternoon. Now, I do the contrary. I sleep at around seven thirty or eight o’clock in the evening and look at things differently. I now wake up early in the morning and by seven o’clock, I’m in Valletta every day. I go to church every morning here in Valletta, at St John’s church, which is something I enjoy, after which, I come to work. I now enjoy the day business more than the night business. As I said, I am not getting any younger. I’m going to be fifty-nine soon. MBR: Yes but they say that life begins at fifty… FG: They say life begins at forty! I would say that I have a more relaxed approach to the business than I used to. I look at it from a different angle. I don’t rush anymore like I used to. I think I used to make bad judgments from rushing. Because when you are living at night, it’s easier to make bad judgements. Now, I do tend to think once, twice, even three times before I do something. Because I have made a lot of mistakes in the past. Who doesn’t? But now, I am far more careful and think a lot before I do something. I also research www.maltabusinessreview.net
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Malta Business Review
CORPORATE INTERVIEW
and ask people of their opinions before I decide on something. MBR: So has Valletta been your sole focus? FG: No. I want to open more places in Valletta, which would consist of two different concepts that would attract different crowds. But besides Valletta, as I said earlier, I have an application for a 7,000 square metre project which includes the restaurant. We want to attract a 40+ crowd to this project and it’s not going to be situated in Valletta. MBR: What about your focus in terms of your personal life? I’m talking about Sue here… FG: Well, obviously, having a girlfriend makes you more relaxed; it makes you more settled, you know?! MBR: Yes, but she comes from a business background too, with business acumen, she’s tech-savvy, etc… So you are practically two great minds. Tell me about that. FG: Well, Sue and I can discuss business. I can talk to her and she’s very encouraging. Sometimes she tells me “you’re crazy; you should stop” but when I come up with something good, she’s the first one to tell me to go for it and give me full support.
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MBR: When setting up such an establishment, are you thinking in terms of a long-term engagement? FG: When you rent, the terms stand for between fifteen and eighteen years. MBR: It’s not about rent; I’m talking about the business in general. FG: Of course you think long-term.
I have been thinking about it for thirty odd years. It would be the ultimate goal for me MBR: And what are the benefits of that? FG: The benefits of that have to do with leaving a legacy behind. I have a son and I have nephews, and I have to leave something behind for them. MBR: Are there any moments at which you can sit back, relax and appreciate your successes? Leave the failures, because you don’t regret the failures. What’s past is past. But, the successes… can you appreciate the successes and then look to the future and say “this is what needs to be done” or not?
FG: Well, I’m more relaxed these days. I do take a lot of holidays. I like to go abroad every two months. I visit my son, who’s presently studying at university in London, reading for a degree in Business Studies. I often discuss things with him because he’s very much interested in the business. I wouldn’t like him to be in my shoes to be honest, because this is a tough business; it’s not at all an easy business. MBR: Can you share a thought about your plans for your future? What can you see happening most in your future? What is your most important priority? What would you like to see happen most? FG: The beach resort concept is my dream. I have been thinking about it for thirty odd years. It would be the ultimate goal for me. I really, really want this to come to fruition and I am looking forward to it. I would be very sad if it doesn’t happen because I have been thinking about it for so long. And I have a very, very good plan for it. MBR: Nothing ventured, nothing gained. Right? FG: Indeed, Nothing ventured, nothing gained! MBR
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Malta Business Review
EDUCATION
Ultimate Learning Experience
The
By Nolliag Mac an Bhaird At St Edward’s College we believe in ‘Virtus et Honor’, old, perhaps even old fashioned ideals, however these qualities are what make an Edwardian! In our Early Years and Junior programs we look to instil a sense of confidence and responsibility, with a large helping of respect, into our students. These qualities are reinforced as the student moves through St Edward’s. People in Malta will often comment on the manner in which Old Edwardians carry themselves, from recent graduates to not so recent ones! Descriptors that come to mind are respectful, eloquent, courteous, articulate, excellent command of English and aware of his or her responsibilities to society. If you look at the graduates that have passed through the College you will find that many are leaders in Business, Politics and Industry in Malta now and have been in the past. Malta is an independent and proud state, unemployment is relatively low, the standard of living good, you will find that this has come about due to the dedication of many Maltese including the input of many Edwardians. For the past six years College has been offering
the International Baccalaureate programme, the IB, in Form 6, with outstanding results. IB is recognised nationally and internationally as an excellent programme in preparing students for entry into tertiary education. Apart from the knowledge that a student will accrue during his/her time at IB the student will be taught the skills needed to manage, apply and handle this knowledge, critical, creative and analytical thinking skills are emphasised; skills needed to be successful in today’s world. Gone are the days of regurgitation. IB teaches the methods needed for students to become critical thinkers!
any parent with several children. Parents love and care for them equally yet the characters are often quite different. There is no magic formula for developing a ’personality’. Caring educators, apart from teaching the knowledge and skills of their particular subject, often find themselves explaining social and emotional situations when students confide in them. Educators at College are individuals who invest more than an academic interest in our charges. We also want our graduates to be outstanding responsible citizens, leaders in society.
St Edward’s College recognises the importance that society, Tertiary level education and prospective employers, place on the ‘currency’ of academic results. These figures/ marks/grades are how our world quantifies a person. College results over the years have been excellent. However, having said that, St Edward’s truly believes in education being more than examination grades. We recognise and believe that each of our students is unique; every single one will have his or her distinct personality. Ask
Most all schools talk about maximizing their student’s potential. This can be achieved when the three legs of the ‘educational stool’, student, parent and teacher are working together. If any ‘leg’ is weak or too strong the balance will be upset. At St Edward’s we believe in including parents and having student input, into education. The sooner a student understands that they can influence their education, the sooner that, under the guidance of teachers, the student will realise that she or he has a role to play, a responsibility, in his or her education. From an early age at St Edward’s we endeavour to instil this understanding of responsibility into our students. This understanding, on the part of the student, can be crucial in his or her success.
Mr Nolliag Mac an Bhaird together with St. Edwards College students during the Customer Experience event held by MBR Publications Ltd on the 8th April, 2016 at The Palace, Sliema
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Part of the challenge and fun of being an educator is looking for the key, that connection, with the student, when you are both engaged in the topic, these are the ‘light bulb’ moments; everyone gets excited in the lesson. This might be in the Early Years program in discovering which colours a child prefers, why that colour and not another or in the IB, Form 6, it might be a heated discussion on the ethics of any topical issue. What and why is it that students are more engaged in certain topics and are not interested in others are questions that any good educator
EDUCATION
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St. Edwards College
will ponder and learn from. Teachers and students are, in St Edward’s, on a voyage of discovery! The College’s strong commitment to pastoral care and character development reassures parents that their children will receive the support and attention they need in a new environment which strikes the correct balance between academic excellence and fun. St Edward’s Student Support services include Career Guidance, Counselling Services, TEFL support and Special needs. Facilities include tennis courts, basketball and volleyball courts, a fabulous running track, all weather, age appropriate soccer pitches and a state of the art gym with the latest equipment. Classrooms are fitted out with interactive whiteboards; Early Years and Kindergarten have recently been refurbished and stocked with appropriate educational toys. St Edward’s has excellent science lab’ facilities, art rooms, a large hall and stage, and specialist rooms for learning support, music and drama. Students will
also find wifi throughout the school. Parents are kept abreast of their child’s progress through the use of an on-line software platform. Homework, notes, discipline reports, grades and so on are all communicated to students and parents instantly.
Part of the challenge and fun of being an educator is looking for the key, that connection, with the student Health, safety and security are paramount at St Edward’s. Part of the perimeter of the college incorporates the bastions of the Cottonera lines built in the 1600’s by the Knights of Malta. The college can be accessed through three gates which are part of beautiful wrought iron railings. Each gate is covered by CCTV. A security guard oversees any person entering or leaving college. Regular emergency fire and evacuation drills are part of college life. Boarder meals are varied, tasty and
Sixth Form Students being lectured at St. Edwards College
healthy. The canteen for day students also caters for the variety of tastes that one might encounter in many children! College accepts both boys and girls, day and boarding, for the last 2 years of school, Years 12 and 13. These students can either sit for the full IB Diploma or individual certificates in each subject. In Years 7 to 11, ages 12 to 16 approximately, the college accepts only boys for day and boarding. These students can sit for the Maltese SEC examinations (Maltese equivalent of ‘O’ Levels) or the IGCSE. St Edward’s has been accepting boarding students since 1929. However, gone are the days when boarding meant living in long, Spartan corridors packed with rows of beds. St Edward’s boarding facilities offer boys and girls unparalleled levels of comfort, privacy and cost, without compromising any of the benefits and values which are associated with the more traditional boarding experience. MBR EDITOR’S NOTE Nollaig Mac an Bhaird is the new headmaster of St Edward’s College. A graduate of Trinity College, Dublin, Mac an Bhaird has been headmaster or held senior positions in various international schools in Curacao, the International School of Aruba and Rotterdam. He is a founder member of the Academy for International School Heads and has served on accreditation teams for a number of international schools and accreditation associations. Apart from Secondary Education Certificate (Sec), St Edward’s also offers International General Certificate of Secondary Education (IGCSE) and the International Baccalaureate diploma for admission to universities worldwide, including the University of Malta.
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Malta Business Review
talking point
Continue from page 12
Through our chairmanship of the G8 and the Summit at Lough Erne, I put tax, trade and transparency on the global agenda and sought agreement on a global standard for the automatic exchange of information over who pays taxes where. While many said it would never happen, today 129 jurisdictions have committed to implementing the international standard for exchange of tax information on request and more than 95 jurisdictions have committed to implementing the new global common reporting standard on tax transparency by 2018. First, corruption should be exposed so there is nowhere to hide. We need to end the use of secret shell companies, so that the corrupt no longer have an easy and anonymous way to hide their loot and move it across borders. We need to drive out the rogue lawyers, estate agents and accountants who facilitate or tolerate corruption in commerce and finance. We need to expose the theft or misuse of taxpayers’ money by opening up budgets and procurement so that people can see exactly how their money is used and they can demand that people are held to account when it is stolen. And we need a sustained effort in those areas which Paul Collier describes as the “pockets of high corruption”, including corruption-prone sectors such as the extractive and construction industries. Second, we need to deal properly and comprehensively with the corruption we expose. That means bringing the perpetrators to justice, actively enforcing anti-corruption laws and working together across international borders to hunt down the corrupt, prosecute them and send them to
jail. One cutting-edge idea to explore here comes from Prime Minister Lee Hsien Loong. In Singapore, instead of prosecutors having to prove the guilt of the corrupt, they reverse the burden of proof so the accused have to show that they acquired their wealth legally. The Prevention of Corruption Act also provides for extra-territorial jurisdiction, so that the actions of Singaporeans overseas are treated in the same way as actions committed in Singapore, regardless of whether the corrupt acts had consequences in Singapore itself.
Corruption should be exposed so there is nowhere to hide. We need to end the use of secret shell companies, so that the corrupt no longer have an easy and anonymous way to hide their loot and move it across borders Third, we need more than just clear rules that are properly enforced. As so many of the contributors have argued, we also need to make it much harder for corruption to thrive by driving out the underlying cultures that have allowed this cancer to fester for so long. This means tackling head on what John Githongo describes as the ‘pirate sector’ by creating a culture where the corrupt are (in Lesotho vernacular) “bobolu” and made to feel a social stigma that shames them for what they do. It means challenging corrupt behaviours globally by embracing the vast possibilities that Paul Collier highlights
around the twinning of different countries’ institutions and professions. From tax collection agencies, treasuries and civil services to professions such as accountancy and law, twinning can begin to build a newly shared culture of probity and honesty. Changing the culture of corruption also means embracing the power of new technologies to deliver greater accountability for public money and public services. In India, for example, welfare smartcards are helping to prevent corrupt officials taking a cut of payments to the poor. Technologies like this can provide the information to enable government agencies, businesses, campaigning NGOs and individual citizens to come together in a comprehensive movement against corruption. But all of this will only really work if political leaders have the courage to stand together, to speak up where previously there was silence, and to demand the strengthening and co- ordinating of international institutions that are needed to put fighting corruption at the top of the international agenda where it belongs. We cannot and must not fail this test of political leadership. As David Walsh writes: “No longer in the dark, we now have the opportunity for change. It would be a crime not to seize it.” I intend to seize it, with the support of all the authors in this book and together with the widest possible coalition of leaders from politics, business and civil society. Together we are against corruption. And together we can defeat it. MBR
EDITOR’S NOTE David William Donald Cameron is a British politician who has served as the Prime Minister of the United Kingdom since 2010, as Leader of the Conservative Party since 2005 and as the Member of Parliament (MP) for Witney since 2001. Cameron studied Philosophy, Politics and Economics (PPE) at Brasenose College, Oxford. He then joined the Conservative Research Department and became special adviser, first to Norman Lamont and then to Michael Howard. He was Director of Corporate Affairs at Carlton Communications for seven years. Cameron first stood for Parliament in Stafford in 1997. He ran on a Eurosceptic platform, breaking with his party’s then-policy by opposing British membership of the single European currency, and was defeated by a swing close to the national average. He was first elected to Parliament in the 2001 general election for the Oxfordshire constituency of Witney. He was promoted to the Opposition front bench two years later and rose rapidly to become head of policy co-ordination during the 2005 general election campaign. With a public image of a youthful, moderate candidate who would appeal to young voters, he won the Conservative leadership election in 2005. Following the election of a hung parliament in the 2010 general election, Cameron became Prime Minister as the leader of a coalition between the Conservatives and Liberal Democrats. The 43-year-old Cameron became the youngest Prime Minister since Lord Liverpool in 1812, beating the record previously set by Tony Blair in May 1997. He was re-elected as Prime Minister in the 2015 general election with the Conservatives winning a surprise parliamentary majority for the first time since 1992, despite consistent predictions of a second hung parliament. He is the first Prime Minister to be re-elected immediately after serving a full term with an increased popular vote share since Lord Salisbury in 1900 and the only Prime Minister other than Margaret Thatcher to be re-elected immediately after a full term with a greater share of the seats.
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Dental Healthcare
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Malta Business Review
Interview of the Month
Magro Brothers: Celebrating 100 years of History
Embracing Traditions,
The firm Magro Brothers was established 100 years ago in May 1916 at Xewkija, Gozo. Gianni Magro was then already an established general provisions merchant, and at the age of 50 he decided to rope into the business his three sons; Wigi, Giuseppi and Manwel and established the firm ‘Magro Brothers’. Over the years the business expanded and soon became the premier company in Gozo. By 1934, the three Magro brothers had completely taken over the business from their father and established themselves as leading general merchants and food distributors in Gozo. Young, full of vigour, and completely immersed in business, they decided to expand further and invested in processing tomatoes for the production of Kunserva. The tomato paste was canned in tin containers with a capacity of five and a half pounds (5 pounds 8 ounces), equivalent to 2.5 kg. Grocers would then sell the kunserva by weight and roll it in a grease-proof paper. The Three Hills Brand Kunserva was an immediate success and it was destined to become, in a few years time, a household name in Gozo, in Malta, and even abroad. In 1977, John & Michael, the third generation of the Magro family, took full responsibility for the running of the company. Today, John’s three children, the fourth generation of the family, are already engaged in the family business and are ably assisted by professional executives and managers from outside the family. The company is still a family concern, still operates from the island Gozo and is still heavily involved in food processing and in the Maltese agricultural sector. The company processes over 85% of Malta’s tomato crop from its 200 registered farmers in Malta and Gozo. It is also an important operator in the dairy sector and in the packaging of Maltese honey, local olive oil and pickled vegetables. The company is continuously developing new products in response to changes in consumers` demands and lifestyles, both locally and also for overseas markets. Over the last 3 years the company has invested 2.5 million Euros in new processing lines and a similar investment program is in place for the next 2 years. Our export portfolio includes major supermarkets in several European countries and leading distributors in Africa and Asia. In Malta the company is renowned for its popular brands including The Three Hills Brand, Mayor, Savina, Hanini, Victoria and more recently Pinto`s Pride. 24
Mr John Magro, Managing Director of Magro Bros Group
Malta Business Review interviews John Magro, Managing Director of Magro Bros Group, who are celebrating their 100 year anniversary. In this interview we find out just why John has his hands firmly on the wheel of Magro Bros Group’s group culture, brands and strategy. MBR: As food manufacturing and consumer companies continue to expand their global presence, they face a host of formidable challenges: which would you highlight most among them; staying close to the consumer, finding and attracting local talent, and managing an increasingly complex or bureaucratic barriers? JM: We are noticing that in mature markets where consumer companies have long been present, more people are returning to indigenous food processors who respond to local tastes and recipes. Hence, over the past few years we have focused on this strategy. The success of any company depends on the talent of its people. Operating on a very small island attracting the right people has always been a challenge, but the company has a long history. Somehow we have been doing the right things to attract the right people. Business today is much more complex than it used to be 40 years ago, when I started my career in business. This is however the reality of the day and we business operators need to be skillful how to handle complex issues efficiently. MBR: As a the first Managing Director who “grew up” in the company, you represent a cultural change at Magro Brothers Group. How would you characterize that change? JM: Magro Brothers was founded by my grandfather who was a sole trader dealing in
Gozitan agricultural produce and exporting it to Malta. In 1916 he roped in the business his three sons, and the business grew and expanded in several sectors, including shipping between the islands and exports of Maltese produce and food processing. In 1977 my brother Michael and I took over the running of the company and as you said I occupied the role of Managing Director since then. However, I never regarded myself of being the first Managing Director of the company but rather the third generation in our family business.
Internally IT has become an indispensable tool for all our operations MBR: What emerging markets account for Magro Bros Group and what significance in overall turnover does this have? JM: As already mentioned in the first question our business model focuses on mature markets both in Malta and in the rest of Europe. Our sales are currently split 60-40 between local sales and exports. MBR: Let’s talk about the role of your strong brands. You have significantly increased the number of Magro Group’s brands. Will you continue to do that?
Interview of the Month
Malta Business Review
Innovating to add Convenience
By Martin Vella
Aerial view of The Magro Food Village in Xewkija
JM: We feel that our strongest brand is in fact the MAGRO brand although we don’t produce any products under this brand. We in fact managed to register MAGRO as a brand in the food industry in Malta. We like to believe that this brand represents to our clients values of good quality, reliability and innovation. We have the Three Hills brand which has been present on the market since 1934 and MAYOR and several other brands which have been launched during the past forty years. I believe that brands are created for a purpose and for a specific range of products. Hence, if in the future we decide to create other products which do not fit into our existing brands we will create new brands. MBR: It seems you spend a lot of time talking not only with consumers but also with
employees. Do you feel that’s important to do as a Managing Director? JM: I wish I have more time to spend with my employees and with my customers. It is something I like to do and I also feel that it is an important part of my job. A Managing Director is like an orchestra leader who has to ensure that all members of the orchestra are playing in harmony the same tune. It sounds easy and yet so often it gets difficult.
A Managing Director is like an orchestra leader who has to ensure that all members of the orchestra are playing in harmony the same tune MBR: Speaking about IT and technology, what role do IT and digital technologies play in Magro’s corporate strategy? JM: In today’s world IT and Technology play a very significant role; giving us new tools to communicate directly with our end consumers and people in trade. Internally IT has become an indispensable tool for all our operations. MBR: Corporate social responsibility and sustainability are topics of growing importance. Magro Group has set ambitious sustainability goals, being recognized by external experts as a leader in sustainability. What lessons have you learned that other companies can also learn from?
Mr John and Michael Magro
JM: We operate from a small island where everybody practically knows each other and where space is very limited. In such
dimensions, a small business operator is necessarily very conscious of its social responsibility and sustainability every day. I am pleased that of recent even large international companies are dedicating part of their resources for corporate social responsibility and sustainability projects. MBR: What role does agriculture play in the overall economic development of the country and what does the ‘Magro’ brand mean to you and how would you like to see it develop in future? JM: Over the past 100 years my family has been closely associated with the trading and promotion of local agricultural products. Over the years we have invested heavily in this sector and this is investment is still ongoing. It is our intention to continue with our food processing activity and to promote local agricultural produce, together with our coveted brand both in Malta and abroad. MBR EDITOR’S NOTE Mr. Magro, Managing Director of Magro Brothers Group, is a leading figure in the Maltese agro industry. Back in 1977, he took over the running of the family business and together with his brother, they built a diversified group of some twenty companies in sectors ranging from Food Processing and importation to Retailing, Real Estate and Construction. Mr Magro was instrumental in the building of a food factory complex over an area of 27,000 sq meters complying with EU food hygiene standards. Magro Brothers were also pioneers in introducing in Malta voluntary third party Food Safety certifications. Today, the organisation holds ISO 22000 certification and maintains an A-plus level grade in the BRC Global Standard for Food Safety. Mr. Magro was born on the 20th August 1955 and is married to Lynn nee’ Camilleri and they have three children – Christian, Nicholas and Joanna, and their grandchildren Mikela, Marta and Tumas.
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Malta Business Review
finance and investment forum 2016
MBR ltd’s Finance and Investment B2B Networking Forum 2016 By Rochelle Beighton
days lie ahead, as we have a global mind-set and the world is our market,” Dr Cardona concluded. The Hon Minister for the Economy, Investments & Small Business, Dr Chris Cardona
MBR
Publication Ltd’s annual Finance and Investment forum hit Smart City last Friday 17th June and proved to be yet another huge success for the organisers. The event brought together leading experts from different financial, tax, legal and SME business organisations to speak about issues and their perspectives regarding key topics in Malta’s financial sector. The forum opened with a welcome registration and reception, where guests were welcomed with complimentary breakfast and were able to network before the event officially kicked off. The Hon Minister for the Economy, Investments & Small Business, Dr Chris Cardona interacted with delegates and exhibitors as he opened talks with a speech in which he hailed the forum as a gathering for the sharing of ideas. Dr Cardona went on to list Malta’s desirable traits which make it, “a place of substance with an appetite for business to do well,” describing the Island as cost competitive and communicative with a high quality of life. He said that, “the level of growth in Malta outstrips most of those in the EU and as a government we are grateful to those businesses who are succeeding in Malta, and who spread the word. I think Malta’s best
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After a video showcasing the financial services Malta has to offer, Head Business Advisory at Grant Thornton, Dr George Vella discussed access to finance and how one of the biggest issues banks in Malta face is liquidation. Mr Vella said that despite banks being strong, they are in fact over liquidated as 52% of their assets are held in cash. He claimed: “The financial service industry is doing well, our mentality is strong and we’ve managed to attract a lot of financial institutions, but is this actually trickling into the rest of the economy?” One of the keynote protagonists of the day was EU funding, innovation management and business development specialist Anamaria Magri Pantea; who took centre stage to deliver a passionate and inspirational speech about EU funding for innovation in SMEs. She stirred the room with her take on EU funding for innovation, where she described the creative sector as a horizontal way of thinking, and drove home the importance of innovation within all sectors. Head of Sales at Go Beyond Investing, Jean Paul Barthet spoke next about the importance of investing in start-ups, and a common misconception that, in order to be successful, they have to become a household name. He explained that, “Angel investing isn’t a high risk game for only the rich, and successful start-ups don’t have to become a verb in our vocabulary in order to be successful. The seed
of angel investing and innovation has been planted in Malta, and there is the potential to earn high returns and to positively affect the economy.” After a networking coffee break there was a surprise speech from property mogul Simon Debono, of Simon Estates, whose witty humour and knowledge convinced guests on the stability and benefits of investing in Maltese property. Managing director of Tameflow Consulting, Steve Tendon, followed with a resounding rendition and discussion of the unstoppable disruption of the financial service industry tehmed “Blockchain”, which was voted as the best presentation of the event, followed by Dr Marina Grech, who discussed opportunities for the Maltese Investments Market; where she explained the legal logistics of Malta’s finance sector. Before guests were treated to a complimentary three course lunch, Malta Stock Exchange CEO Designate, Simon Zammit concluded the conference with an overview of the Maltese Capital market. Here he explained Malta’s role as an effective source of capital for large organisations and SMEs. Three absorbing and animated finance videos were also played during the conference. Attendees left with a different outlook on finance in Malta, with a fresh appreciation for innovation and new knowledge to last them until next year’s forum. A sumptuous five-course buffet prepared by Delicia Caterers ended the networking event on a savoury note! MBR
SPECIAL Feature: Women Leaders
Malta Business Review
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Malta Business Review
Transport & Logistics
Express Trailers Awarded the Lufthansa Cargo Gold Award By Andrew Clark Express Trailers continues to lead in the air cargo segment by confirming itself as Lufthansa’s top agent in Malta during 2015. In fact, by reaching both targets in terms of revenue and weight, Express Trailers’ Air Cargo section has just been awarded the prestigious Lufthansa Cargo Gold Award. This award was received by Gilbert Galea, Stephen Cassar, Matthew Vella, and Jesmond Mifsud who handle Express Trailers’ air cargo operations. It was presented by Mr Thomas Egenolf, Director of Lufthansa Cargo Italy and Malta, and Mr Abré Smit, Regional Manager Northeast Italy & Malta during a business event and awards ceremony held recently at Palazzo de Piro in Mdina. On presenting the award, Mr Egenolf said that this award was being presented as an acknowledgement and in recognition of the constant high level of commitment by Express Trailers towards Lufthansa’s cargo operations. “Express Trailers’ Air Cargo Department has won many awards in the past however this is the first time the company was awarded the Gold Award by Lufthansa Cargo, an award which makes us very proud of our people,”
The Lufthansa Cargo Gold Award presented to Express Trailers’ air cargo section.
said Franco Azzopardi, Chairman and CEO of Express Trailers.
our company puts into the delivery of our services.”
Franco Azzopardi thanked Gilbert Galea, Stephen Cassar, Matthew Vella and Jesmond Mifsud, adding that “this recognition would not have been possible without the commitment and the professional attitude of our people heading the air cargo section at Express Trailers. This award reflects the team work and the level of excellence that
“We are equipped to offer air cargo services to a wide range of sectors namely industrial, fashion and retail, pharma, fresh and frozen food, special equipment, live animals, valuables, perishables, hazardous cargo and more. We are trusted and we keep delivering. This Gold Award from Luftansa is another proof of this,” concluded Franco Azzopardi. MBR
(From left) Jesmond Mifsud, Gilbert Galea, Stephen Cassar and Matthew Vella who handle Express Trailers’ air cargo operations. 28
Transport & Logistics
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SPECIAL FEATURE: WOMEN LEADERS
The Customer Experience
Malta Business Review
SPECIAL Feature Pull-and-keep Supplement
Women Leaders www.maltabusinessreview.net
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Malta Business Review
SPECIAL FEATURE: WOMEN LEADERS
Nurturing Educati By George Carol
industry grew and eventually I opened a second BELS school, this time on Malta, with the same ethos as the one in Gozo. After my father’s retirement I also took over the school in Gozo. So my road to ownership was very much spurred on by support from my parents and my husband, as without them I would not have been able to do it. Throughout the time that I was building the new centre and taking over the Gozo one, I also had our two daughters.
Rebecca Bonnici has a deep passion for education and learning with over ten years of operational and leadership experience in the education sector. In this interview Rebecca discusses the importance of instilling students with excellent English communication skills, the challenges and the significance to nurture relationships in order to render the learning experience more authentic.
MBR: Was teaching something you had wanted to do or was it just the easiest option open to an English-speaking nation? RB: I got into ELT at the age of 18. At the time, my intention was to teach English in the summer, to earn enough money to pay off my car loan, whilst reading for my degree at the University. I hadn’t thought much further than that, then. However, once I got qualified as an ELT teacher I was lucky enough to have a boss who believed in me and who nurtured my abilities and slowly, I began to look at ELT, less as the vehicle that would assist me with my financial commitments and more as a consideration for a future job. After I graduated, my parents also caught onto the fact that I loved ELT more than I did anything else that I had studied and so they insisted I persue both the Cambridge CELTA and DELTA courses.
MBR: In recent years, a number of language-learning services have cropped up. What makes BELS a different proposition from other players tackling this space?
MBR: What was it about you personally and professionally that made you take the next step, one that many teachers think about but never follow up on, and set up your own school? RB: In this respect I was lucky, my father already owned a language school on Gozo, so I didn’t have to start from scratch. Having said this my father also didn’t believe in spoon-feeding me either. He insisted I work for other people, not only in ELT; before he even considered giving me a job. He is a firm believer in the ‘school of life’ and so wished me to experience working for and with others, before entering his business realm. Even when he did eventually concede, he made sure I did the rounds of each department within our organisation, so that I would get a clear understanding of what it meant to work in a language school. As the years went by my passion for teaching and the
RB: Well, first of all we are small by choice. Malta has many medium and large language schools and so we decided to compete with this, by offering a quality service to clients who are looking for a personal and client-focussed school in which to learn English. I am also very proud to say that both schools are owner run. I am present in the centres on a regular basis and I encourage interaction with my clients.
Teachers encourage learners to view interaction as both the means and goal of their language stay with us MBR: What did you offer students at the beginning that was different from other schools and unique? RB: In the beginning, before we had the school in St. Paul’s Bay, the primary difference was that we were based on Gozo. To this day we are still the only accredited, year round operation on Gozo. MBR: What difficulties with setting up a business in Malta surprised you most and what problems do you still face today?
Entrance to the Gozo centre 32
RB: I try not to dwell on the difficulties of the past and look to the future with a more positive outlook. An issue that is being faced by Maltese schools, that is making us less competitive on the international front; is VAT. While the educational section of the package we offer is exempt, all the other components; accommodation, leisure, etc. are all VAT-able; albeit at different rates. Internationally any ancillary service, offered by ELT schools is VAT exempt.
special feature: Women Leaders
Malta Business Review
ional Relationships today. I am very proud to say that I employ a group of motivated people who, like me, believe in the brand and also share my values. So my culture at BELS is a lot about nurturing my team, so that together we may nurture the relationships we have with our clients, as well as our suppliers. MBR: How important is that social element in keeping people going, keeping them participating, helping with those full participation rates?
Our reception area is warm and welcoming
MBR: Has the way English is taught at BELS changed over the years? How would you describe the methods used today? RB: We have always taught English at our schools using the communicative approach; where teachers encourage learners to view interaction as both the means and goal of their language stay with us. Initially our teachers only used course books to deliver the course material, however over the years technology has entered the class-rooms and so learning has become more diverse and current. Our classes today are equipped, not only with audio equipment but also interactive white-boards. The school also subscribes to various international publications and teachers are encouraged to utilize these materials appropriately in class, in order to render the learning experience more authentic.
MBR: What are some of the most important aspects of the company’s culture at the moment?
RB: I believe it is quite important and attempt to have regular gatherings for all of my team. It is during these ‘gatherings’ that BELS also develops its best ideas; whether on a boat trip or on a family day in a local farm or in a restaurant; the seeds of change have often been sown at these social events, e.g. product refinement, the choice of a new company charity etc.
My culture at BELS is a lot about nurturing my team, so that together we may nurture the relationships RB: The positive and lasting customer experience is of paramount importance to us. We believe very much in the power of the word of mouth for marketing and over the years this has proven to be a winning streak for us. However, running a successful language school is not only about the customer, it’s also about the team and I hold mine very close to my heart. Without them my schools would not have the energy nor the drive we have
We deliver experiences & most importantly smiles
MBR: What does the future hold for you and your school? :)
RB: Now that would be letting the cat out of the bag , however what I will say is that BELS plans to be around for more than another 20 years and we plan to keep doing what we do best, with some surprises in the very near future too. MBR EDITOR’S NOTE
Our lounge areas encourage interaction
Owner and Managing director Rebecca takes pride in calling BELS her own. She makes it a point to be present in each centre on a weekly basis, to meet clients and learn more about how BELS can meet their needs better. In her free time she enjoys diving, reading, travelling and most of all spending time with her family.
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Malta Business Review
SPECIAL FEATURE: WOMEN LEADERS
Where are Malta’s women leaders? By Damian P. Xuereb
Targeted for the local papers, this article never found its way to the press. Many thanks to a colleague who combed through the article with me, back in 2013 until MBR Publications Limited picked up on the controversial subject!
Some men can be good bosses, but if you want a great boss go for a woman- so the maxim states. Are women really better at leadership? It is one thing to say it and it is another thing to prove it scientifically. What is certain – at least from a subjective perspective- is that many less competent males make it all the way up to the top with seemingly few obstacles along their path, whereas few women make it to the top. Why are so many men in leadership positions, and quintessentially why are so few women in leadership positions? We can logically break the issue into three components that are quite frequently discussed in circles addressing female participation:
I
“Women do not want leadership positions.”
Malta has one of the lowest female participation rates in Europe. In 2014 Eurostat data indicates inactive men accounted to 25.1%, whilst women accounted to 50.7% roughly a 2:1 ratio. This cannot be correlated to education given that Malta’s educational system outputs nearly the same ratio of men to women year on year, up to tertiary level. It does not even relate to unemployment: this year’s statistics (March 2016) indicate 2,993 male job seekers as to 1,040 female, roughly a 3:1 ratio that has been consistent despite changes government policy with the intent of enhancing participation throughout the years. If one had to argue participation from an educational level and the unemployment
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figures, it would lead to think that the workforce is more open to women than men! And yet there are a lot less women in leadership positions. In Malta the ratio of unemployment by gender does not relate to the number of inactive persons. The ratio is constant throughout the various age groups, with the exception of the 20-24 year-olds at a ratio of 2:1 men is to women. The latter age group is hardly a child-bearing age by today’s standards- with most women becoming mothers at a later age, while this age is often reserved for academia or the first years in a career. This again goes against the theory that women are at a disadvantage to men as they are likely to interrupt their careers due to parenting responsibilities.
This brings us back to the first 2:1 ratio. Why are women choosing to stay out of the workforce? Is it a lack of stimulating factors from a career point of view? Or has the traditional home-maker (more politically correct) role taken a more prominent and central position in the priorities of the modern Maltese women? If the latter is true, why does Government policy place such importance on the participation of women in the workforce? Is it only the economic factors that drive this policy, such as increasing the workforce replacement rate and hence decreasing the welfare gap and reducing poverty, etc? Surely, the numbers seem to indicate that women are, in fact, not as interested in employment as men, let alone leadership positions.
special feature: Women Leaders
II
“Women are not capable of leadership positions.”
Statistics regarding applied management science in Malta are incomplete and at times - in certain areas of research - missing altogether. There is limited grounded research and what little there is often based on qualitative measurement. This kind of research often delves into the detail and is not based on numbers needed to prove or disprove such a statement. Given that the measurement of good leadership is largely the application of a situational set of skills, it would be (entirely) mistaken to state that one gender is capable of performing where another is not. Thus, any situation could be mastered by an individual who has the competence and drive to ‘make it happen’, irrespective of his/her social background or gender. This is why a new leader can ‘rise’ despite having no background, unlike for example royalty which has leadership cast upon it through generations irrespective of their competence for the role.
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On the basis of argument above, why is the management/employee ratio so skewed towards men? Why aren’t there more women in the managerial rungs? Why is Malta lagging behind other countries with so few female leaders? A personal observation leads me to believe that Malta’s culture often lends itself to be overly democratic and, as such, ‘leaderless’ where it matters. Excessive amounts of consultation and stakeholder involvement in all sectors of society create an environment that is consistent with leaderless groups that tend to procrastinate in deciding matters that need urgent resolution. Government has often been chastised for this. Social studies indicate that in leaderless situations people tend to elect overconfident, self-centred individuals. At times, such individuals are narcissistic to the point of being malignant and history teaches us that, with few exceptions, such
personality traits are more common in men than in women. Unfortunately, subordinates, being either in a corporate environment or the public sphere miss the ‘incompetence factor’ for the ‘toxicity’ of the leader’s charisma, that will inevitably, lead to grave issues at a later stage. Nevertheless Malta has produced a number of women leaders that do shine above the rest. I will refrain from pointing out names but clearly most of Malta’s popular female leaders star in arts rather than in for example, sciences. This is also endemic to Malta’s natural tendency of lower participation in technical subjects that spans across both sexes. In a recap, I believe there is little ground to prove or disprove that Maltese women are not capable of being leaders. As a society we need to be careful not to mix up the natural charisma for leadership skills. A leader is a leader, whether male or female.
“There are invisible barriers to women in achieving leadership positions.”
Controversial (and at times conspiratorial!) theories give raise to the popular belief that male chauvinism is the culprit to the emergence of a stronger breed of women leaders. Male chauvinism is often described as a glass ceiling limiting of women in leadership positions. Dr ChamorroPremuzic, an international authority in personality profiling and psychometric testing, believes that the main reason for the uneven management gender ratio is the inability to discern between confidence and competence. Thus people generally misinterpret displays of confidence as a sign of competence, and are fooled into believing that men are better leaders than women. This theory would lead one to reason that the only ‘real’ advantages men have over women are the manifestations of pride and presumption, where the culture allows it. Sexism is an issue we need to learn to contend with, but the there are other factors which cannot fail to be mentioned. A study published in the British Psychological Society decomposed the self-estimate of intelligence across 12 nations across the globe and it consistently proved that men tend to think they are brighter than women. Needless to say, the more masculine-oriented the culture is, the more prominent these behaviours become. I am not aware of any research base that measures of Malta’s cultural masculinity carried out on a national basis. Masculinity
on a cultural level is normally associated to a society that tends to assume that men are supposed to be assertive, tough, and focused on material success, whereas women are supposed to be more modest, tender, and concerned with the quality of life. Needless to say, if our assumption of a traditional leader is that of being ‘assertive and tough’ then the glass ceiling is immediately created.
transactional style leadership when a situation of leadership is required rather than a consistent type of leadership. The study also proved that in the areas where males seemed to have an advantage over women, a null effect was registered on the measurement of effectiveness. This, I believe, very much enhances the argument that there is no advantage in being male.
This kind of study would be fundamental in establishing, for instance, that here in Malta we score higher in cultural masculinity than in a Scandinavian country and supposedly lower than an Middle Eastern one. The Study would give Government and the civic society the tools to develop the correct policies to influence cultural behaviour. The Study would determine whether we do have a tendency towards masculinity and eventually chauvinistic prejudice that may arise from it. Only then can the correct policy may be implemented to modify this behaviour or, at a career level, introduce the necessary mediators to ensure that women be given equal chances, and break the invisible barriers.
In summary, arrogance and high degrees of machismo are diametrically opposed to modern leadership theory that unequivocally and scientifically proves that the qualities of the best leaders are made up of humility and fierce resolve. In reality ego-centricity and overconfidence only lead to self-serving agendas. Normally this kind of behaviour does not survive long-term growth in any sector and when it does it comes at a high price.
The three components come in line with the scientific proof that women perform better than men in positively affecting their subordinates, therefore achieving higher degrees of leadership effectiveness. A study published in a journal of the American Psychology Association determined that men tend to be associated more to
A good leader will always be one that inspires vision, promotes the common interest of the team and sets aside personal agendas in favour of high performance of the team. A good leader will be one that has the correct values, irrespective of gender. MBR Damian P. Xuereb researches leadership, focusing on subjects that are difficult to address.
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Malta Business Review
SPECIAL FEATURE: WOMEN LEADERS
Work, By George Carol
Christine Pace, Managing Director at Dorkins & Fashion Limited, showcases the power of desire and great business smarts during this interview. Christine tells us how to be all passionate, determined and committed to turning our ideas into a reality, and building successful businesses.
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Risk and Sacrifice MBR: What has been the secret of your success?
CP: I don’t attribute success to a secret, but more to a recipe of passion, dedication, commitment, hard work and a good dose of support, especially from family members. The work and support of my husband and partner, Bobby, my son Michael and my siblings has been indispensable to my success. MBR: What is it about your make-up that compels you to both create and build business? CP: When creating a new business a lot of background research has to be done on the product, the best location for the product, keeping everything on budget, coordinating works and a hundred and one other things. All this is very exciting and it’s a big adrenaline charge for me, it is also more exciting as there has to be a lot of interaction between Bobby, and all the other various managers, family members and not, to achieve the best possible results. MBR: How do you define purpose in your work, and how do you measure the impact when you are looking at that type of an objective? CP: My purpose in my work is always to create the best possible shopping experience. Our customers have to feel a positive energy whenever they shop at any one of our outlets. This can only be measured by the constant feedback from our customers and by the reaction of our staff members.
Peter Bonavia from Carmelo Caruana Ltd presenting Christine Pace the Best Retail & Leisure Entrepreneur of the Year Award 2015
MBR: Is the message out about the critical role that companies like Dorkins play and about how dynamic this industry is? CP: I believe it is. When one looks at the sheer numbers in the fashion retail sector it is clear that it is one of the major employers on the island. Thousands of staff members are directly employed to work in outlets and back offices, a constant chain of workers are employed in construction, tile laying, air-conditioning, glazing, IT technology, banks and much more. This business generates many millions of euro to the Maltese coffers.
MBR: How challenging is it to show differentiation in a business like this?
My purpose in my work is always to create the best possible shopping experience
CP: Very difficult and very challenging. Our line of business is very challenging and also very competitive; everyone is trying to be innovative and to differentiate in anyway possible. Best results are achieved through strong marketing, best price product and good customer care.
MBR: Behind that employee base, you have also put diversity and inclusion at the forefront. How critical is it that your consumer profile is mirrored within the workforce?
MBR: For a company of Dorkins’ size and scale, where do you see your growth coming from? CP: Dorkins Limited has always managed to move forward in the world of fashion retail and we do not feel that we have reached saturation. However we are exploring other venues for growth such as on line shopping and property.
CP: It is of great importance that our employees interact with our customers. Much of your retail success depends on the level of trust that consumers have with the staff in providing them with the positive experience that they need when selecting their purchases. MBR: Are the opportunities there today for women within the fashion industry
and what do you tell women coming in about the careers this industry offers? CP: There are plenty of opportunities in this industry as it is quite diverse. Fashion retail is not just sales girls in a shop, but much more as in management and administration, stock purchasing from overseas markets, marketing and others. It is not easy but if they have the passion for it then yes, fashion retail will give you the career that you can handle. MBR: Is it hard to not become so engaged when you see something done differently than how you would do it, and do you have to take a step back? CP: It is impossible for me not to get engaged, I do not work from a scale of from one to ten but from a scale of one to infinity. There is no detail that does not require your attention, but this not as a lack of trust in my team but more of a work in progress with major team effort approach. Rather than calling it a step back I would say we compromise difference of opinions. MBR: Is an entrepreneurial spirit something you are born with or it can be taught? CP: An entrepreneurial spirit you are born with, like any other talent. You can be a born athlete, a born musician or any other talent, but it will always depend on you and how much you are willing to work, risk and sacrifice. MBR www.maltabusinessreview.net
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Big Data Summit
DEBATE
Malta Business Review
By David Sadler Smith
Death of a Salesman fiction or non-fiction? Has digital marketing killed off the traditional salesman...
If you are a salesman you are probably fed up of hearing that 60% of a B2B buying decision has been concluded before any contact with a potential vendor or sales person. This “perceived wisdom” calls out to companies to spend more time and budget on “marketing technology” and developing online content in order to educate and ultimately influence a buyer towards their solution. It further implies that businesses could pay for this by optimising their sales organisation… that’s code for getting rid of some of the sales people. After-all, a salesman is not required at the top of the funnel because the inputs required by a buyer at that stage are self-served from online content. This of course is crap. And there seems to be some research that bears this out. That is according to the global b2b research company Sirius Decisions. They surveyed over 1000 buyers and found that they were more likely to interact with a salesman at the beginning of their journey than at any other stage… and then continue to interact with suppliers throughout the buying process.
As a marketer, and a buyer, this makes a lot more sense to me.
– through online chat, webinars, social
As a consumer I love the digital environment as it gives me fast access to a wealth of information and data. It gives me confidence that I will be able to make good decisions… not because it gives me the right answers but because it give me a level of intelligence that allows me to ask the right questions.
a mixture of face-to-face (exhibitions, events
For answers… I rely on a mixture of inputs from previous experience, others recommendations and from thought leaders… some of whom will come from suppliers. This process of identifying and asking the right questions goes on throughout the buying journey so it makes sense that interacting with solution providers and their salesman will be an important part of the process.
success you will achieve… I would love to see
Yes the landscape has changed, and many of these salesman interactions happen online
content in order to create more and earlier
platforms etc. But many are direct and will be and dare I say it sales visits), telephone calls and email. In industries where the decision making process is either long or complex, the more direct sales interactions you have the more the data that disputes that. And the level of that success is likely to be linked to the quality of the information you share and your sales team’s ability to transmit it effectively. So the argument is not about more online content and less direct selling. The challenge now for many organisations is how to be more effective with online marketing opportunities for the direct sales team.
MBR
Note from the Author: David Sadler Smith is a Marketing Manager, translating strategy into effective marketing content that drives action at Honeywell
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Special Feature: Women Leaders
Special Feature: Women Leaders
Malta Business Review
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Malta Business Review
forthcoming event
MALTA • LIBYA • TUNISIA • ALGERIA • MOROCCO Trade Exhibition & B2B Networking Forum 2016 SmartCity Malta – Friday 15th July by Nathan Archer & Rochelle Beighton
DOING BUSINESS WITH MALTA
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uilding on the success of the 2014 Malta-Tunisia-Libya Business, B2B Networking and trade exhibition Forum will allow entrepreneurs and business leaders from North African countries to learn from the economic success of Malta. The forum is being organised by MBR Publications, which publishes the Malta Business Review, who developed the format in collaboration with author, lecturer and researcher Werner E Jung from the Flexible Factory Institute. Over 300 delegates will be given the opportunity to develop new contacts with attendees from Libya, Tunisia, Algeria, Morocco, Malta, France, Italy Slovenia and Turkey, at Smart City on Friday 15th July.
Malta is rare success story in the Eurozone. It was not majorly affected by the economic downturn in 2008. With a stunning geographic location, modern infrastructure, adequate and flexible labour supply, the country is an attractive place to do business in Europe. Simon DeBono, owner and managing director of Simon Estates, said at the June 2016 Finance & Investments Forum: “Malta has extremely stable government system. The Prime Minister lives on one side of the street and opposite him is the Leader of the Opposition. We have a low tax rate of 15% and have not lost a war in 60 years!” Malta has enjoyed healthy diplomatic relations with Tunisia and Libya since relations were first established in the 1960s. In 2015 the North Africa Business Council was created with the aim of promoting business between Malta and North African countries; and in the process, create opportunities for the Maltese business community. Despite conflict in some of the MENA countries, such as Libya’s ongoing
civil war, private enterprises have been able to continue trading with each other, as well as Malta; the latter of which could offer a unique platform for further trade between European countries and the MENA region. In an exclusive interview with MBR Mr. Werner E Jung revealed he created the name, ‘Bottom-Up,’ from his research into how to overcome financial inequality in developing countries, he said: “‘I believe that we have to start at the bottom of the pyramid to build up a healthy and socially compatible economic system. The top down approach, sometimes also termed as “trickle down” “Reaganomics” or “Laissez-faire” of the 80’s has proven to be the booster rocket for the unhealthy development we have experienced from then on. My background is in engineering and micro-economics (business administration) where you learn that you need to start small and with a solid foundation, in order to create something which proves to be sustainable. “These are emerging markets which Europe needs in the future and should not be left to the Chinese uncontested. The European and UN policies for foreign aid have failed miserably. It is time that we start putting our money where our mouth is: providing help for these countries to help themselves.”
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forthcoming event
Malta Business Review
THE CHANGING FACE OF LIBYA 1977 - Col Gaddafi declares a “people’s revolution”. The country’s official name is changed to the Great Socialist People’s Libyan Arab Jamahiriyah and “revolutionary committees” are set up. 1988 – Pan Am Flight 103 is blown-up in Lockerbie, killing all 243 people on board and 11 people on the ground. Libya admit responsibility in 2003. 1989 – Libya, Algeria, Morocco, Mauritania and Tunisia form the Arab Maghreb Union. 2003 - UN Security Council votes to lift sanctions imposed after Lockerbie. Libya says will abandon weapons of mass destruction. 2005 – Libya’s first auction of oil and gas heralds the return of US energy companies in more than 20 years.
Tunisia: Top investing countries in 2014
(Source: Central Bank of Tunisia)
2011 – Inspired by revolts in neighbouring Egypt and Tunisia, violent protests break out in Benghazi, leading to clashes between security forces and anti-Gaddafi rebels. Gaddafi is captured and killed. The National Transitional Council (NTC) declares Libya to be officially “liberated”.
UK
18.0%
France
15.4%
Quatar
9.7%
Austria
7.6%
Italy
5.0%
2014 – UN staff leave, embassies are shut down and foreigners are evacuated as security situation deteriorates. Fighting largely destroys Tripoli International Airport.
Canada
36.0%
Germany
29.0%
2016 - UN announces a new Tunisia-based interim government, but both parliaments in Tobruk and Tripoli do not recognise its authority. Government embarks on cleaning and wiping out radical Muslim elements, including ISIL, in order to stabilise the country,
Algeria: Top investing countries in 2014
(Source: The National Agency for Development and Investment) Kuwait
23.0%
Spain
17.0%
Egypt
17.0%
United States
13.0%
Mr Jung said that while there are continuing problems in MENA & MAGHREB countries, a strong economy with a social dynamic is still vital to creating financial security: “In the last two years unfortunately political and social tensions in the MENA and MAGHREB areas have not improved significantly. The terror of radical Islamic groups is holding these countries in a stranglehold. Some of these countries’ economies rely heavily on tourism – the fear of terror attacks is keeping tourists away as is especially evident this year. This uncertainty about the future is a great impediment for direct investments. These countries have to get their act together – it is not our job to mess with their internal affairs.
France
7.0%
Saudi Arabia
6.0%
China
4.0%
“However we should offer them our assistance if they want it. What puzzles me is why the rich Arab/Muslim states do not provide more help for stabilisation, apart from building shopping malls for the few who can afford to shop there?” MBR
Morocco: Top investing countries in 2014
(Source: Moroccan Development Agency) France
21.0%
United Arab Emirates
13.3%
Saudi Arabia
12.8%
USA
11.9%
Kuwait
5.3%
Switzerland
5.1%
Spain
4.3%
Italy
3.6%
Turkey
2.7%
UK
2.6%
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Malta Business Review
Architecture
Embracing the Same Objective By Martin Vella
Matthew J. Mercieca, Founder, Senior Architect & CEO with Matthew James Mercieca Design Architects shares his viewpoints on the past, present and future of architecture in Malta.
MBR: Talking about contemporary Maltese architecture, do you think it is possible to identify a contemporary Maltese style and do you think Matthew James Mercieca Design Architects Malta (MJMDA) works in this direction? MJM: MJMDA does not create its design work and projects within any predetermined style. We think that talking style for style sake can be rather stale. Having said that, locally, as happens internationally, one can pick up ingredients that mingle to create trends. But I would not go so far to say that these trends should in fact be called a Maltese Style, although some trends tend to have a patterned tile included in the material palette for example. At MJMDA we conceive our projects using processes that depend on a wide array of parameters. Architecture and design that considers and addresses as many parameters as possible, including context, client brief, design requirements and many others is more successful, longer term. We do not aim to mimic a style, but use carefully crafted and co-ordinated processes to guide us towards an initially unknown result. This direction and method of work, often creates solutions that are innovative and fresh as well as functional and beautiful. MBR: Can you describe an evolution in your work from when you began until today? MJM: The ethos is the same as it was at the beginning and is ever more valid today: architecture and design in an integrated fashion; all professional disciplines required rolled into one; architecture as refined product. These key aims help us go beyond the norm and excel. What has changed significantly is the firm’s resources on the other hand. Each component of the MJMDA team is carefully selected to work within a master strategic plan and processes. So the finalised completeness and refined nature of the work has consistently improved throughout the years. And practise makes (more) perfect. 44
MBR: What have proved to be watershed moments for your practice? MJM: We have experienced a steady and constant development as a firm. No critical turning points since the beginning in 2003 that meant a fresh page come to mind. However, there have been many critical lessons to learn. It has been a growth experience, and the only water shedding involved was related to tears, be it from the hard work or sheer joy of having succeeded at a project.
We like to dig deep, explore, research, and challenge the status quo MBR: What are your thoughts on the importance of renders in architecture today? MJM: Renders remain a crucially important component for design presentation and understanding of real architecture. But they are components nonetheless. Both in my early student days, and in professional practise I have constantly worked at the edge of technology, investing significantly to have tools to make high end visualisation and 3D modelling part and parcel of deliverables. They refine design faster, they communicate, market and sell projects, and that is important. What is presently of concern, is that the render seems to be superseding the need to have real, high quality work actually finished and for all to experience. Creating a convincing render is an excellent skill to possess; but having the capability and foresight to actually finish it sustainably is way more important towards the success of real inhabitable architecture. Not that inhabiting the purely virtual for extended periods of time is too far away with the commercial introduction of VR headsets like the Oculus Rift.
MBR: What do you think is the most effective way of presenting a project and why does MJMDA stand out from the rest? MJM: Project presentation suitability and customisability is vital. We scan our palette of presentation techniques and choose according to the project requirements. From sketches, to detailed layout plans, physical working models, to 3d models, to high end renders, to augmented reality and 3d cutting & printing. We have used them all in the right place. Being prepared with having multiple angles and build up for the design project is how our designs stand out. We like to dig deep, explore, research, and challenge the status quo. Approaching the problem at hand with an open mind, and systematically hitting each performance requirement goes a long way. Using complementing techniques to communicate design intent as clearly as possible is what usually secures the sparkle in our clients eyes as they repeatedly say ‘I would have never thought of that!’ MBR: MJMDA is a collaborative architectural studio which integrates several professionals from different fields and backgrounds. How do you manage the team work and which are the features of working in a collaborative atmosphere? MJM: Process, process, process. Tasks, flow and constant communication between several individuals with varying expertise, but embracing the same goal: completed functional projects without the frequent interdisciplinary politics, tug of wars, and struggles. The project comes first. MBR: MJMDA projects are characterized by a high degree of social responsibility and a strong respect of the environment, how do you manage these issues in the design process? MJM: We try to offer a service to all those that come to seek it of us, without waving people away. And we also strive to offer
Architecture
that service at a fair price across the board. Therefore, we reach our goal of impacting people’s lives positively to some degree. Even with our wealthiest clients their wellbeing in the use of the work they engage us is our top priority. With respect to the environment, it is a central parameter of our design efforts. It gets due consideration and inclusion in the initial design stages, but also the proper attention to detail in execution. We can respect the environment and contribute in our projects constantly in so many ways: reduction of carbon footprint, energy efficiency, consumption of natural light, insulation and thermal comfort, addressing fumes, exhaust, planning for noise generating devices, diligence in the selection and sourcing of materials and a consistent green agenda and sensitivity. Finally, the interplay with cultural heritage to keep it in good order by restoring and protecting it, whilst keeping it relevant, secures it for future generations.
With respect to the environment, it is a central parameter of our design efforts MBR: What projects is MJMDA working on at this moment? Could you please tell us a bit about your current activity?
MJM: 2016 has been a busy year thus far, and is potentially a record breaking one. We have just completed two semi-detached villas, one of which was an interiors project and the other full site to completion including interiors. We have completed two new offices in the beginning of the year also. We like to name our projects, and our most opulent villa in development at the moment is AMP: a 2,100m² detached villa with a life amplifying design. Limber Lattice, a new 5,000m² office building is also underway, a milestone in new local office building design in our opinion. We are also working on F&B locations. One of the freshest new projects is a bar in Strait Street, which is full of promise to be a small but fantastic location. There are a host of about 30 active projects that the team is working on presently to varying degrees.
Malta Business Review
We have also been engaged as consultants in selection processes and specialised reporting as well as local architects in collaboration with foreign firms for new and exciting large scale projects. MBR: Do you believe we can use architecture to create a mould in which to form new housing developments and therefore new experiences of human cohabitation? MJM: I think to enter a complex discussion and review of historical examples of mass production and standard housing here and why they generally failed mid last century is beyond the point. What I do believe though is that the future is about mass customisation. Architecture is fully customisable already but is only reachable to the few that can afford such complex professional assistance. With technological processes capable of both collecting information about client needs, generative design processes and tools to create optimum solutions, and a set of standard design responses, the result is complex but unique works of architecture. These would better address the complexities of individual requirements at a fraction of the development cost. MBR EDITOR’S NOTE Graduated in 1999 in Architecture and Civil Engineering Design Stream at the University of Malta, with a semester at Virginia Tech University in Virginia, USA, Matthew J. Mercieca proceeded to work with top firms on the island of Malta for three years. Matthew has also furthered his studies by attending a masters level course in New Entertainment Design at the Politechnico di Milano in 2006. Establishing his own firm in 2003, MJMDA, he was commissioned and has completed numerous projects with a unified design approach: one that sees a continuous thread from project inception to completion yielding unified results with superior integrated quality and functionality. Several of his works have been reviewed in local and international publications, referenced in academic papers and dissertations as well as in cultural publications. As CEO of MJMDA’s multidisciplinary team Matthew continues to challenge the status quo to spearhead advanced design solutions for the architecture of the future, today. www.maltabusinessreview.net
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Malta Business Review
“
MALTA’s BEST ENTREPRENEUR OF THE YEAR AWARDS 2016
NOMINEES FOR MALTA’ OF THE YEAR
Where some see only risk, e n t re p re n e u r s see o p p o r t u n i t y
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Vera Sant Fournier From a young age during her secondary education at St. Martin’s College Vera Sant Fournier’s interest lay in History & Art. At the age of 16 she worked alongside her father in a family run Art Gallery. A couple of years later she followed her passion and furthered her studies in Art & Design at the Malta College of Art, Science & Technology where she obtained further education and direct experience in the elements of Wood, Stone, Jewelry, Paper, History of Art, Ceramics, and the Fine Arts. Trips to Paris, London, Venice, Prague, Portugal, Sweden, Milan and New York, to mention a few, exposed Vera to a broader vision of style and design. Described as “efficient, meticulous and flexible allowing her to transform abstract thoughts into personalised realities through her capable and innovative approach to interior design”. Today, Vera Sant Fournier runs her own studio in conjunction with her team of Project Manager, Designers, Architects and her Personal Assistant, who, working as a team look after the implementation services of Vera Sant Fournier- Design Studio. This combination allows the Studio to implement designs centred around their clients’ needs, aspirations and budget. The team is totally committed to delivering an excellent level of service, which is believed to be the hallmark of her business and reputation. Ryan & Kurt Zarb Ryan and Kurt Zarb Are both Directors of Azeta Limited. While Ryan showed deep interest in the manufacturing of woodwork
at a tender age, Kurt started working in the sector of furniture and joinery also at a young age. Both brothers took over the management of their Company after their late father passed away, and facing difficult challenges the brothers trudged on doggedly with determination and commitment, and taking each project one step at a time. Their major achievements in three areas are outstanding: innovation in development of high technology; commitment to excellence integrating and implementing technology; and to education, an area on which the Woodworking Machinery Industry places a high value. Ryan and Kurt also implemented innovative energy-efficient features, such as in the European-style windows, which has gained traction in Malta. These reduce energy costs and carbon emissions, making them particularly attractive to architects. Both brothers demonstrated entrepreneurial capabilities by harnessing their investments, refurbishing of a new showroom and modernisation of new machinery in their factory. Ryan and Kurt stand apart in their joint dedication to corporate social responsibility in their employment practices, civic activities, environmental concern and ethical conduct and attention to green building concepts, which today have earned Azeta Ltd a reputation as a market leader in the furniture and joinery sector in Malta.
David Seisun
David Seisun, the Managing Director of Sixteen Limited, is a 26-year old self-made entrepreneur. A Graduate in BSc Computing and Information Systems from Goldsmith University, he has occupied numerous high level positions including that of Chief Commercial Officer with HandsOn Systems Ltd. A keen believer in innovation, he has co-founded an Austria-based company: Olivia office GMbH in which he currently occupies the post of Chief Technical Officer. Following the Austrian success story, he set up Sixteen Ltd shortly after. Sixteen Ltd has established itself as a leader in providing cloud-based ERP solutions. Providing a range of solutions from accounting ERP solutions to iPAD-based point of sale; from beauty/fitness to real estate alongside vast-ranging 24/7 IT support products has consolidated further Sixteen Ltd.’s position in Malta and beyond. David’s motto? Impossible is nothing.
Simon Debono Simon DeBono was born in 1964, founded the Estate Agency ‘SIMON Estates’ in 2000 to cater for a segment of clientele that
required a superior level of personalised service. Building up a database of 17,000 properties for sale and 9,000 properties for Lease, spanning the Residential and Commercial sectors. He was educated at St. Aloysius College (Malta) and Ingatestone Anglo European College (UK). Worked in the UK for 5 years, Maltese Banking Sector for 13 years, General Secretary of the Malta Union of Bank Employees for 10 years, and Real Estate for the last 16 years. He currently serves as the Treasurer of the Federation of Estate Agents and is on the Building Industry Consultative Council advising the Government. He operates Branches in the Capital City of Valletta, Naxxar (Malta) and Geneva in Switzerland. He has been instrumental in piloting the new Legislation regulating Estate Agents in Malta. He is involved philanthropic activities in housing the under privileged.
Benji & Zak Borg In 2012, Zak was in the process of finishing a Master’s degree in computer science in Fraunhofer on Real Time embedded systems, and Benji was finishing an animation degree from one the most prestigious universities in California. In the evenings we combined our design and software development knowledge and began creating an app. One app turned to two and eventually we started getting more and more requests from clients to develop custom apps and as a result ANCHOVY. was born.
Etienne Scerri
Coming from a family of entrepreneurs it was easy for me to move in in the entrepreneurial arena. At early stage I came to realize that great success is a result of experiences and good network. So I embarked in a life learning experience within the manufacturing, aviation and pharama, after which I start a number of businesses as self-employed and partnerships with key companies.-The effect of this learning experience was actually to define my carrier, this changed after I came across and successfully finished my Masters in Technology Based Entrepreneurship. Today I think of myself as an entrepreneur with the key skill to turn concepts into successful businesses.
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Highland Apartment - Level 1, Naxxar Road, Birkirkara, BKR 9042 |
MALTA’s BEST ENTREPRENEUR OF THE YEAR AWARDS 2016
Malta Business Review
S BEST ENTREPRENEUR AWARDS 2016 John Schembri John Schembri epitomises the spirit of entrepreneurship. Having served out a first career as an officer in the Armed Forces of Malta, John founded SHIELD Consultants in 2004 and has overseen the company’s growth into Malta’s foremost firm in the specialist field of operational risk management. A highly qualified security risk management specialist, holding a MSc. degree from the University of Leicester, UK, John has steered SHIELD into Health and Safety; Business Continuity Management; Emergency Response and Crisis Management; Critical Infrastructure protection as well as Maritime Security risk management and compliance. Recognising the need for innovation and change within a complex and highly dynamic industry, John also developed STORM, a unique system of online tools for operational risk management, which is now deployed in over 15 countries, including high risk zones like Nigeria, Gabon, Algeria, Libya, South Iraq, Kurdistan and Pakistan. In 2015, STORM was shortlisted for Risk Management Product of the year in the prestigious CIR Awards, London. John is also the Founding President of the Malta Association of Risk Management (MARM).
Mario Muscat Born 13th December 1958, Mario is married to Jennifer and they have 6 children. Started the business Ozosystem Ltd in June 1996, 20 years ago from a small bedroom he began by employing 2 people. 20 years on saw Ozosystem grow and evolve into Ozogroup employing almost 1,300 people. Mario has seen his dreams materialising with a number of achievements in many areas namely, ISO 9001 certification, building an in-house training academy, European business awards, and National winner of 2015-2016 for Growth and Sustainability and National Champion. The biggest achievement was reached when he was chosen by the London Stock Exchange as one of 1000 companies to inspire Europe. OzoGroup was also chosen from amongst 23 million SME’s in Europe. Mario’s ultimate dream is to see OzoGroup operating in Europe and with each passing day he feels that his company is moving towards this dream.
Matthew J. Mercieca
Graduated in 1999 in Architecture and Civil Engineering Design Stream at the University of Malta, with a semester at Virginia Tech University in Virginia, USA, Matthew J. Mercieca proceeded to work with top firms on the island of Malta for three years. Matthew has also furthered his studies by attending a master’s level course in New Entertainment Design at the Politechnico di Milano in 2006. Establishing his own firm in 2003, MJMDA, he was commissioned and has completed numerous projects with a unified design approach: one that sees a continuous thread from project inception to completion yielding unified results with superior integrated quality and functionality. Several of his works have been reviewed in local and international publications, referenced in academic papers and dissertations as well as in cultural publications. As CEO of MJMDA’s multidisciplinary team Matthew continues to challenge the status quo to spearhead advanced design solutions for the architecture of the future, today.
Matthew Spiteri
Matthew Spiteri studied Mechanical Engineering at the University of Malta and in Michigan, USA. He holds a Master in Engineering and is currently reading an MBA with the University of Chester. In 2008, Matthew started working on the Altern concept, which focuses on providing simple and effective sustainable solutions that are both financially and environmentally feasible. Today Altern Limited designs and manufactures a range of domestic and industrial LED lights in Malta for the local and foreign market, a first on our island. Matthew has led the company from a start-up concept to one which offers a range of innovative concepts and products, making Altern a key player within the sustainable energy business.
Justin Haber My aim in the business world is not to copy others or compete with other businesses, but to be original and offer something unique
to my clients. Every sector in my business is surrounded by passion. I went from being paid to play football and taking care of myself to working hard from early hours in the morning to late at night so that every day I get to chase my dreams and watch each one become a reality. Being nominated for this award is an honor. This would not have been possible without my wife, Raquel, and colleagues’ support.
Nadine Pecorella Nadine owner of BLOOM! said she became an entrepreneur because she wanted to have some fun and do things better than existing companies in the hospitality sector. Studied hotel management at the Institute of Tourism Studies in Malta and has lived and worked in London and Malta. Started her career at the iconic Berkeley Hotel in Knightsbridge, London, belonging to the Savoy Group, before returning to Malta and working in senior positions for 17 years with some of Malta’s top hotels. What we do…“We create strategic integrated experiences that form a human connection in all our Corporate & Event projects between brands, places and people whilst celebrating our heritage, culture and future”.
Margaret Brincat | Mobile: +356 9940 6743 | margaret@mbrpublications.net
www.maltabusinessreview.net
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Malta Business Review
Trademark Registration
Protect your Intangible Assets against Competitors and Increase Brand Goodwill
In today’s competitive environment a trademark is essential in order to differentiate your brand, both locally and internationally. A trademark thus should be a key element within the marketing and branding strategy of any company. Competitors tend to willfully imitate the name or logos of a strong brand name or product in order to leech off from the market share of a well-known brand. For this reason, it is a must to register one’s trademark in order to be protected by law and to be able to seek remedies when infringements occur. A company has exclusive rights to a trademark only when it is registered. This means that the registration of a trademark will prevent others from using identical or similar name or mark on products or services. Therefore, registration protects a business from anyone wanting to take unfair advantage of its brand name or wanting to make any use of it, which is detrimental to the brand. A trademark is also an intangible asset for a business, thus forming part of the company’s total assets. Within such a business framework, a trademark therefore also helps towards increasing the value of the company’s goodwill.
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Goodwill in a trademark is the value of the attraction of a business or product to customers that the trademark possesses. It is the benefit and advantage of the good name, reputation and connection of a business. When a business name is protected, the company’s name, reputation, and its relevant strong business track record, are also protected. Additionally a trademark can be transferred, assigned or licensed earning
such benefits and claims from any goodwill it would have generated. For further information on how to protect and register your trademark in Malta visit www.commerce.gov.mt. Should you be interested in protecting and registering your trademark in the European Union, kindly visit www.euipo.europa.eu. MBR
fashion
R
ouge fashion boutique is situated in the heart of B’Kara. Which prides itself on it’s personalized service. Making the client feel a million dollars at the minimal of expense!! Always waiting for their clients to receive that special compliment on that special occasion.
One of their main clothing brand is Little Mistress. It’s a go-to brand for high glamour party dressing. With everything you need from show-stopping cocktail dresses to flirty partywear, stand out from the crowd in the brand’s signature lace
and embellished evening dresses. From maxis to prom dresses and bodycons, the collection is buzzing with high octave style Rouge also caters for fashion forward with another brand Paper Dolls. This brand takes you effortlessly from day to night in the seas on latest styles. Each collection focuses on tailored, bodycon dresses and chic seperates which are crafted from luxe fabrics. Paper Dolls’ effortlessly chic signature style of pretty prints, delicate detailing and splashes of colour from a fashion focused yet timeless collection.
Malta Business Review
Our brand is feminine with an opulent and luxurious approach to ready to wear. It’s the life and style of party looking to the latest catwalk trends and translating them into fashion-savvy collections. Synonymous with glamour and attention to detail our collection of dresses are sure to turn heads to any party. From alluring maxis to dancefloor ready outfits be ready for any occasion with the latest styles. So pop over to our boutique where you will not regret the expierence. MBR
Pat and Christine
Available from our outlet
7, Triq Anglu Mallia, B’Kara, Malta | email: rougemalta@gmail.com | Tel: +356 21447372
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Malta Business Review
employment
Maltese gender pay gap seems to favour men In Malta the average gender pay gap is 11% for the four occupational groups analysed. In none of these professions a gender pay gap in favour of women was found. The highest reading obtained is a 21% wage difference for Service and sales workers. The next highest identifiable gender pay gap is 17% for Elementary occupations. The lowest gender pay gap is a 2% difference for Professionals. For a better understanding of the occupational wage differences in Malta, more data is needed. The average gender pay gap for the ten analysed occupational groups is 11%. A national average, compiled with 2013 data by Eurostat, indicates a gender pay gap of 5.1% only. This difference between the two composite averages suggests that there are still other occupational groups in Denmark where the gender pay gap is smaller wider than the ones presented in the table below.
Where does the gender pay gap come from? The gender pay gap is defined as unequal pay for work of equal value which is performed with the same skills and qualifications. This pay gap results from gender segregation attitudes and practices. These attitudes and practices reinforce the existing unequal development
opportunities for men and women, as well as unjustified remuneration within occupational groups and professions. Note that the gender pay gaps portrayed below are for the analysed occupations and professions only.
Table 1. Gender pay gap for large occupational groups in Malta
Source: EU SILC 2013 Dataset. The gender pay gap was obtained through a comparison of the gender-specific gross median wages and dividing the resulting difference by the male median wage. All occupational groups in the table have at least 10 observations for both male and female respondents.
What is the WITA-Gender Pay Gap project? With Innovative Tools Against Gender Pay Gap – WITA GPG (January 2015 - December 2016) aims to make a significant contribution in reducing the large and enduring gender pay gap. It is made possible by the European Commission PROGRESS program Action Grant nr. 4000004929. One of the activities is to compare male and female wages at the level of occupational groups and release the results for publication at the national WageIndicator websites of all 28 EU-member states and Turkey, as well as dissemination though press releases. More information about the WITA project http://www. wageindicator.org/main/Wageindicatorfoundation/ projects/wita-gpg More information about Gender Pay Gap in Malta http://www.mywage.org/malta/home/salary/ genderpay-gap-in-malta
wageindicator now in 80+ countries! WageIndicator Foundation was established in 2001 with the aim of contributing to greater transparency on labour markets. WageIndicator Foundation collects, compares and shares labour market information through online and offline surveys and research. Its national websites serve as online libraries featuring wage information, labour law and career advice, both for employees and employers. Currently WageIndicator Foundation has operations in more than 80 countries. It is supported by renowned universities, trade unions and employer’s associations worldwide. Over 100 specialists from around the globe contribute to the work of WageIndicator Foundation. The websites managed by WageIndicator Foundation has a monthly outreach to millions of people. MBR Check: WageIndicator.org or WageIndicator.org/GenderPayGap
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holistic Trade therapy Finance
Malta Business Review
The Holistic Therapy by Stephanie Borg
Combining Nursing skil s and Massage Therapy to Promote Healing While massage may have developed a reputation as a self-indulgent treat for people who love pampering, new studies are showing that it has a wide variety of tangible health benefits. As a nurse and a massage therapist, I combine the ancient art of massage and modern knowledge of anatomy to create a therapeutic experience and promote holistic therapies. My job allows me to look at life rather than just the body—asking what is going on in life that needs healing. The idea of caring for the entire person, not just their physical body, is one that dates back to Florence Nightingale, in which her pioneering actions define her as “The Mother of Modern Nursing.” Massage as a healing tool has been around for thousands of years in many cultures.
Touching is a natural human reaction to pain and stress, and for conveying compassion and support. Think of the last time you bumped your head or had a sore calf. What did you do? Rubbed it, right? The same was true of our earliest ancestors. Healers throughout time and throughout the world have instinctively and independently developed a wide range of therapeutic techniques using touch. Many are still in use today, and with good reason. There is now scientific proof of the benefits of massage - benefits ranging from treating chronic diseases and injuries to alleviating the growing tensions of our modern lifestyles. Therapeutic massage manipulates the soft tissues and muscles to restore natural, pain free functions, treating the entire body, both
the psychological and the physiological needs of clients. Many people wait until they are already in pain or suffering injuries before turning to massage, but why let it get that bad? It is a good idea to take regular massage as a preventive measure so that such injuries do not occur. One of my intentions is to also teach how to perform stretching exercises, reduce stress and when to apply heat or cold compress. Specific self-care exercises become a natural extension of a massage session. Regular massage maintenance will help enhance your overall sense of wellbeing for optimum physical and mental health. Remember, “The mind and body are not separate, what affects one, affects the other.” MBR
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Malta Business Review
Feature: smart city
SmartCity Malta SmartCity Malta is a unique business park which is home to a mix of Maltese and international companies. Set in an area of 360,000 m2 along the picturesque coast of Ricasoli Point, SmartCity Malta offers a harmonious blend of office and food and drink spaces, with one-third of the land set aside for green and open leisure areas. SmartCity Malta is a joint venture between the Republic of Malta and SmartCity Dubai, where the Government of Malta has a 9% equity stake. SmartCity is the international business parks arm of TECOM Investments and is envisioned to develop and manage a network of interconnected business townships across the world in order to replicate the astounding success TECOM has seen in its 11 business parks in Dubai. SmartCity Malta, together with SmartCity Kochi, is one of the first two SmartCity outposts in the EU and India respectively. Both developments are supported by cutting-edge infrastructure, unique lifestyle amenities and a responsive support system. They will model all subsequent SmartCity developments around the world, perpetually growing the global network of business townships. 52
Companies operating from SmartCity Malta can plug into this global network and leverage a host of benefits such as, networking events and forums where companies share best practices, forge partnerships, access new talent and enter new markets. SmartCity Malta’s vision is to facilitate success for business partners and the knowledge economy of Malta. To achieve its vision, SmartCity Malta has created the ideal platform for companies interested to serve the EU and North African Markets via Malta. SmartCity Malta leverages its SmartCity network, its location and its partnership with the Government of Malta to deliver the SCM advantage. Infrastructure To achieve its goals SmartCity Malta has developed the most advanced and reliable ICT infrastructure available in Malta today. Through a progressive integration of technology and services, SmartCity Malta has developed its proprietary ICT Infrastructure concept to meet the technical demands of mission critical digital operations. Business partners
at SmartCity Malta have access to the Metro Ethernet network, which enables a high bandwidth of up to 1GB, highspeed internet connections, a propriety network distribution centre and a largescale power distribution centre that is fed with 33kV power via a dedicated protected tunnel thereby assuring business continuity which creates the link between SmartCity Distribution Centre and Delimara Power Station by passing through Marsascala. Within its modern campus, SmartCity Malta provides ready-to-operate, modern, fully serviced commercial spaces that cater to the needs of knowledge-based enterprises for a range of companies ranging from software to finance, cloud computing, telecommunications and Business Process Outsourcing (BPO) amongst others. Environmental impact From development through to execution, SmartCity Malta has consulted with construction specialists to ensure that the environmental impact of the campus remains minimal, and that practices result in transferrable cost savings for
Feature: smart city
Malta Business Review
– a unique work and lifestyle destination the business partners. Some of these measures include rainwater harvesting through a storm water management system, use of solar photovoltaic powered LED Lights and energy-efficient LED street lights and limited glazing in building envelope.
promenade and grand steps overlooking the lagoon. In addition, the open-air amphitheatre, which will continue to host a number of attractions, and the terraced seating, all enjoy breath-taking views of the infinity lagoon and the azure Mediterranean Sea.
The implementation of these sustainable features has helped to accomplish savings, such as reducing the annual consumption of irrigation water by 52.3%, and energy consumption by 17.6%. Moreover, 13.97% of the building material is comprised exclusively of preand post-consumer recycled content.
Laguna Walk offers a selection of indoor and outdoor dining experiences with food and beverages outlets, including business partners such as Wejla by Tartarun, Chocafé, Bistro Ten-O-One, Laguna Restaurant, The Londoner Pub and Da Vinci who offer a variety of cuisines to tempt every palate.
With its environmental fundamentals in place, SmartCity Malta’s first buildings SCM01, SCM02 and SCM03 have been awarded LEED Silver by the U.S. Green Building Council (USGBC). SCM01 is the first building in Malta to be awarded LEED Silver certification by the USGBC.
Laguna Walk’s resort-based leisure facilities include family and pet-friendly settings, ample parking space and majestic water fountain shows to create an ambience of quality and convenience. In addition to its alfresco leisure and dining opportunities, Laguna Walk skirts the expansive Lagoon to evoke a great ‘outdoors’ feeling that is endemic to the Maltese Islands and takes full advantage of the country’s climate. It is the ideal location for leisurely walks or fitness activities, and provides a natural walkway through SmartCity Malta’s leisure district.
Laguna Walk Laguna Walk at SmartCity Malta is the first development of its kind on the island, which offers a dynamic venue for various events with its spectacularly choreographed fountains, beautiful
Whether corporate or social, Laguna Walk plays host to a number of special events and entertainment attractions such as public events, business dinners, weddings, and so many more. Picturesque platforms jutting out into the Lagoon create the perfect setting for music concerts, shows and events, while the Grand Steps provide stadium seating for these stages. Exciting and varied entertainment offerings also permeate the promenade for a truly unique event. With its excellent leisure facilities, SmartCity Malta is quickly becoming the island’s pre-eminent entertainment venue. Given all these advantages, SmartCity Malta is a unique development that balances office spaces with unique lifestyle elements that encourage job retention and employee satisfaction. The open green spaces and thoughtful outdoor areas create a community that enriches the quality of life, promotes individual well-being, development and peace of mind. MBR
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Malta Business Review
dental healthcare
TOOTH WHITENING!!! By Dr Jean Paul Demajo
A very popular topic spoken about very openly in social circles, tooth whitening is delivered in different formats and at different prices. There are three main types of tooth whitening. THE HOME KIT This method involves taking impressions of your teeth and producing thin plastic trays to fit onto them. These trays fit your upper and lower teeth like a glove. Bleaching gel is then placed in the tray and when the tray is worn the bleach dispersers on the tooth surface. This is left in contact for 4-7hours during the day or at night for 3-7days. Advantages • Relatively cheap • Good efficiency • The trays are yours to keep so on buying new bleach these may be used indefinitely. • With already sensitive teeth, you may pace the bleaching load by skipping 1-2days in between bleaching so as to give the teeth a break. During those days you may also place desensitizing gel instead of bleach in the tray to alleviate any sensitivity. Dis-Advantages • Dis-advantages • Excessive bleach may leave the tray and irritate the gums. • The trays may be uncomfortable for the patient to wear. • Must repeat procedure every now and again to maintain their bleaching colour. • Uncertain what tooth colour the teeth will whiten to.
CLINICAL LASER TOOTH WHITENING This method of whitening your teeth utilizes a laser/light system. The patient lies in the dental chair with a light fixed on his/her dentition. Of course the mouth and gums are isolated with cotton-wool and isolation dam material respectively, whilst the skin and lips are protected with sun-cream. The eyes are also protected with specific safety glasses preventing any damage. Bleaching gel is placed on the teeth and when the light is switched on the synergistic effect of the lamp with the bleach caused the teeth to whiten. Advantages • Very quick 45-60minutes • Very good results • No need to wear any bleaching trays Dis-Advantages • Slightly more expensive than the homekit • May be too strong for young patients • Teeth may be sensitive for 24hours after the procedure • Must repeat procedure every now and again to maintain their bleaching colour. • Uncertain what tooth colour the teeth will whiten to. COMBINATION The laser tooth whitening is done to achieve the whitest natural result and then maintained with bleaching trays as described in the home kit. This is the most effective cost-efficient method.
VENEERING METHOD The method of veneering your teeth is the only form of tooth whitening not requiring any maintenance whitening procedures. It is also the form where you are guaranteed to whiten your teeth to whichever your preferred degree of whiteness is; to whichever tooth colour you prefer. This method involves minimal tooth filing and fixing of very thin porcelain facets onto your teeth. Advantages • The colour is exactly your chosen colour • Simultaneous tooth straightening as well as the whitening. • Colour doesn’t change, therefore no need for a maintenance program Dis-Advantages • Expensive • Albeit minimal, it involves some tooth filing • De-bonding or fracture of veneers • Irreversible The whitest natural colour is a B1. The whitest available is a BL1HT( Bleaching shade with high translucency). This is 4shades whiter than the whitest. B1 B0 BL2 BL1 BL1HT It is important to know what products and methods are out there as many phony unprofessional methods of tooth whitening are for sale on the high street. These may seriously damage your teeth. Stick to professional advice and ASK your dentist! MBR
extra-oral pre-treatment
intra-oral pre-treatment
extra-oral post-treatment
A Case STUDY A 40+year-old woman working in the beauty business wishes to revamp her smile. Requiring numerous crowns, bridges and veneers she wished to fix her teeth and chose a “sub-zero” bleaching white (BL1 HT) shade. Dentists tend to advise against such degree of whiteness as the teeth may look very unreal, but this patient got just what she wanted and was extremely happy. 54
Dr Jean Paul Demajo Dental and Implant Surgeon, Trained in London working in private practice in Malta
European Financial Regulated Markets
Malta Business Review
Finance Minister Edward Scicluna addresses the Operators of the European Financial Regulated Markets By Special Corespondent Minister for Finance Edward Scicluna addressed the Federation of European Securities Exchanges (FESE), which is holding its annual convention at the Hilton, St Julian’s. Prof Scicluna remarked that as a result of the financial crises, in order to strengthen the sector while protecting the investor, pieces of legislation and regulations were introduced. He acknowledged that this could translate into protracted slower growth in the short term, but over the medium and long term future, such course of action will yield positive results and growth of the financial sector. Minister Scicluna commended the European Union Commission for taking a leading role in undertaking an extensive review of current legislation aimed at enhancing investment and economic growth. Whilst stressing the need to focus on enhanced investor education, Prof Scicluna mentioned that locally this issue is being addressed with the help of the Malta Stock Exchange and other market practitioners. The Finance Minister referred to Commissioner Hill’s comments regarding the Commission’s commitment to legislate less
The Hon Minister For Finance Prof Edward Scicluna, during FESE Convention
but better. In the local context, where the absolute majority of all companies are by definition SMEs, the Malta Stock Exchange (MSE), earlier this year, launched “Prospects”, the new tool to access the capital markets geared towards the needs of SMEs and start-up companies, fits in well with the Commission’s focus on these economically important entities and is also in line with the MSE’s commitment to open up new capital market opportunities, in order to create economies of scale and to afford businesses more competitiveness and sustainability. Minister Scicluna concluded his address by
stating that “Malta’s financial sector will remain highly regulated and transparent and will be participating in all European and International fora related to Anti-money laundering and Anti Tax Avoidance under the aegis of the EU and the OECD respectively because we believe that the best way forward is by maintaining the country’s treasured reputation. We will strive with our might to maintain the country’s competitiveness, but not by compromising on an agreed set of international standards”. MBR Photo: DOI - Kevin Abela Source: The Ministry for Finance
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Malta Business Review EU Presidency
A Sushi Bar will be opening soon on the 1st floor
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Economy
Malta Business Review
Economic Growth in Malta Continues to Impress In the first quarter of this year, economic growth in Malta continued to exceed expectations increasing by 5.2 per cent over an already high growth rate of 6.3 per cent recorded in the same quarter of last year. This comes at a time where the EU and the Euro Area are growing at 1.8 and 1.7 per cent, respectively. In nominal terms, the Maltese economy is estimated to have grown by 7.6 per cent.
This robust economic performance reflected strong increases in both investment and private consumption. Indeed in the first quarter of 2016, investment activity recorded a significant increase of 16.2 per cent or €57.6 million despite the fact that Malta is currently at the start of the 2014-2020 EU funding program. Private consumption increased by 5.9 per cent or €58.5 million, over the previous year. Exports of goods and services also registered an increase of 0.5 per cent. Economic growth continued to be broadbased as the majority of sectors recorded positive growth. Double digit growth rates were recorded in the in the real estate activities sector which increased by 11.9
per cent and the professional, scientific and technical activities sector increasing by 11.2 per cent. Other notable private sector increases were also recorded in the information and communication sector, in wholesale and retail trade as well as in the mining and quarrying and the agriculture and fishing sectors. It is noteworthy that the manufacturing sector also recorded a significant increase in value added of 6.79 per cent. Mirroring the dynamic performance in the labour market, compensation of employees increased by 5.8 per cent or €54.5 million in the first quarter of this year while, the robust
economic activity boosted business profits which increased by 7.7per cent or €65.4 million. Minister for Finance Edward Scicluna comments: “The GDP data published today show that the Government has achieved one of its main policy targets which is that of increasing Malta’s growth potential. This was the result of various supply-side policies implemented throughout these last three years including measures to increase labour force participation and measures to attract local and foreign investment by attaining economic and fiscal stability.” MBR
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Malta Business Review
World Credit Congress
MACM at the 5th World Credit Congress in Bucharest Josef Busuttil, director general of the Malta Association of Credit Management (MACM), participated in the 5th World Credit Congress, which was held between the 8th and 10th June 2016 at the Marriott Hotel in Bucharest, Romania. During his one hour presentation, Josef Busuttil argued that in today’s commercial world, competition is increasing and suggested that the credit function has become a people’s function and its role has become that to assist sales. Companies are deploying the credit function to gain and sustain competitive advantage in the market. Together with World renowned credit professionals, Josef Busuttil was also involved in two separate panel discussions, addressing topical issues including, best
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credit management practices in today’s business world and credit risk management now warrants a seat at the table.
to grant and manage credit, whilst ensuring sound cash flow and securing long term profit.
Josef Busuttil said that the role of the credit function has a lot to offer to an organisation but very often the function is underutilised. Firms that involve the credit function in their strategic decisions result to be more profitable and also enjoy better cash flow the lifeblood of every business organisation.
The credit experts who contributed to the success of this World Credit Congress came from USA, UK, Mexico, Ireland, South Africa, Romania, Germany and Malta.
He emphasised that sustaining long-term customer relationship is the name of the game in today’s turbulent times and the credit function should not be seen as a cost centre but a dynamic function that can contribute to the organisations’ long-term profit. Josef Busuttil also explained the importance for the credit practitioners to be trained and skilled adequately in order
The 5th World Credit Congress was well attended by delegates coming from twenty-two different countries around the World and it was endorsed by the world most renowned credit management organisations and associations, including MACM – Malta Association of Credit Management. MBR
EU Anti-Tax Avoidance Directive
Malta Business Review
“EU tax agreement acceptable to Malta” The Hon Minister Edward Scicluna
Speaking at a meeting of EU Finance Ministers (ECOFIN Council) in Luxembourg recently, Minister for Finance Edward Scicluna stated that Malta can accept the latest version of a proposal for an EU Anti-Tax Avoidance Directive following several amendments that have been made to the text which address the country’s original concerns. The acceptance of the proposal comes after several months of intensive negotiations in which Malta worked to ensure that its general system of taxation and the competitiveness of its financial services sector will be safeguarded. Minister Scicluna thanked “the European Commission and the Dutch Presidency of the Council of the EU, which understood our particular concerns, while at the same time recognised that Malta was fully committed to finding a solution once these were addressed.” Pending any objection being raised during a brief silence procedure, the agreement by Malta and several other like-minded member states will ensure a minimum set of EU rules to fight tax avoidance. At the same time, the latest text clearly notes that measures intended to tackle so called “hybrid mismatches” contained within the directive
The Hon Minister For Finance Prof Edward Scicluna, during the ECOFIN Concil meeting
are not intended to affect the general features of the tax system of member states.
and also approved draft recommendations under the European Semester cycle of 2016.
“The full imputation tax system is Malta`s general system of taxation, affecting all taxpayers, whether individuals, pensioners or corporate, the design of which has been in place since the very beginning in our country. We have sought and obtained the reassurance we needed in this regard,” Minister Scicluna said in the margins of ECOFIN.
On 17 June, Minister Scicluna also attended the European Stability Mechanism (ESM) Annual Board of Governors meeting, as well as a meeting of the Euro group. Minister Scicluna was accompanied by Ambassador Marlene Bonnici, Permanent Representative of Malta to the EU and the Permanent Secretary for Finance Alfred Camilleri during the ECOFIN Council meeting. MBR
Ministers also held a round of discussions on the strengthening of the Banking Union, which will be a priority during Malta’s Presidency of the Council of the EU in 2017,
Photo: MFIN Source: The Ministry for Finance
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Malta Business Review
DIGITAL GAMING
Maltco Lotteries signs a collaboration agreement with the University of Malta
Maltco Lotteries have signed a collaboration agreement with the University of Malta’s Institute of Digital Games to help benefit the entire gaming industry.
Malta’s national lottery brand are collaborating with the University of Malta and have signed an agreement to support the University’s Institute of Digital Games. This is an opportunity for the national lottery custodian to show support for and shine a spotlight on this ever growing industry. This support was initiated by Maltco Lotteries and will benefit ongoing research initiatives at the University. In the local gaming scene Maltco Lotteries are on the front line, interacting with customers and ensuring that players receive the best entertainment experience possible. For the first time ever Maltco Lotteries has initiated a collaboration with the University’s Institute of Digital Games for a minimum of two consecutive years, starting June 2016. Talented University of Malta students selected on merit by an independent panel at the University will have a post in the Institute of Digital Games, fully sponsored by Maltco Lotteries. This will give more opportunities in Digital Game analysis, design and technology in Malta and encourage more students, both nationally and internationally, to enrol in the M.Sc. in Digital Games course at the University of Malta. Maltco is a major contributor to Malta’s economy through job creation and investment as well as to social well-being through an on-going programme of charitable donations to help the most in need in the community. The Institute of Digital Games was established in 2013 at the University of Malta to deliver world-class, postgraduate education 60
and research in game studies, game design and game technology. The international team of researchers at the Institute come from a variety of disciplinary backgrounds including literature, media studies, computer science, human-computer interaction and design. Researchers of the Institute have been and are currently involved in numerous externally funded research projects, editorial boards of top academic journals and programme committees of the most prestigious conferences in games research. University Rector, Professor Juanito Camilleri, commented “The University of Malta has invested a lot of resources in setting up the Institute of Digital Games and in supporting efforts on a national level to promote this sector. Malta is now starting to reap the benefits through a sustained increase in economic activity in this area. The University welcomes industry initiatives such as this, which support it in its missions of teaching, research and knowledge transfer.” The Institute of Digital Games is one of the top international centres in this discipline and the work it carries out is at the forefront of innovative games research. Maltco, being part of the INTRALOT group, which is present in 57 jurisdictions across all 5 continents, will help the University raise the profile of the Institute internationally and attract more students to the flagship M.Sc. in Digital Games.
Maltco Lotteries CEO Vasileios Kasiotakis said: “We are proud to collaborate with the University of Malta and we want to be the pillars in furthering the Maltese academic in the Maltese industry, research in this vital area is an issue that affects everyone in the community, whether you are an agent, employee, customer, regulator, lawmaker, professional or citizen, so this collaboration will open up new perspectives and insights in Malta for the benefit of all.” MBR For further information email info@maltco.net, visit the Maltco website www.maltco.com or call 2388 3000.
ABOUT MALTCO MALTCO Lotteries offers a comprehensive portfolio of entertaining games of chance and skill based on Responsible Gaming Principles that makes a major contribution to the social and economic development of the Maltese Islands. The company is one of the major contributors towards the Responsible Gaming Fund administered by the Government of Malta. MALTCO operates a comprehensive training programme for agents and their assistants in recognition of their channel partnership. The company supports many good causes and sponsors several local sports.
jewellery
Malta Business Review
Jewelbox Creative Jewellery
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ewelbox is introducing a fresh, dazzling and exciting new collection by victoria cruz.
All jewellery pieces are made of 925 silver, combined with Flashy Swarovski elements and finished in, Yellow gold, Rose gold or Rhodium plating. A piece from the Victoria Cruz collection will beyond doubt bring a smile to any mother receiving such gift on mother’s day as the jewellery is elegantly worn by women of all ages and style, to add the vast range of colorful pieces will match every outfit for any occasion.
Jewelbox also displays a full range of silver Jewellery & Gifts at both shops in Valletta offering an extensive selection of High end silver jewellery , with the Dimitrios Exclusive collection being a state of the art collection all handmade to a perfection rarely seen on silver pieces. Jewelbox boasts a selection of over 5000 different pieces including Pearl jewellery and Pearl strands made to measure, vintage jewellery with the Vintage collection being one of the
most attractive collections and the Line Argent collection being the most versatile collection displayed at Jewelbox. All attentively chosen and well priced to meet everyone’s demands. The next time you are looking for that something special and unique make sure you drop by at Jewelbox in Valletta where our well trained and helpful staff will make sure you find the right piece of jewellery for the perfect occasion. MBR
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Malta Business Review
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Malta Business Review
Waterproofing
Waterproofing when the heat is ON
By Antoine Bonello We live in an age of constant change with the internet and other sophisticated communication devices dictating our lifestyle and bombarding us with news and gossiping, thus making the world a small place. These fast changes are also very visible in the constructing Industry with evermore architects creating innovative designs and putting no limits to building structures. Most of these buildings besides being aesthetically pleasing are also proenvironment with smart solutions to use less artificial light, cooling and heating devices. In Malta were architects like Renzo Piano have left their mark are also adopting the concept of self-sufficient structures and are utilizing every single space to maximize the benefits aesthetically and financially. Being and island with low rainfall and a lot of sun, it is needless to say that not using solar panels would have been a crime against nature. However these bulky structures are becoming an eyesore almost in every town and village as they are being fitted in unthinkable places by their owners, with poor regulation and proper aesthetic design whatsoever, with the concept of the more the merrier. It is these unaware problems that drive serious pro-environment companies like NAICI to find simple yet innovative and effective solutions for this havoc. I was ecstatic when I heard about the new GUAINA REFLEX thermal membrane; it is a simple yet effective solution. This revolutionary product is the perfect answer for our flat roofs here in Malta. Besides its strong waterproofing properties, this new resin liquid membrane has thermal properties, making it unique and hence reduces by far structural heat intake in summer by 90%. From now on we will use less air-conditioning to cool our houses or workplace. But the most astonishing property of this innovative product is the ability to increase the efficiency and the intake of solar panels by redirecting the sunrays horizontally towards them. This means more money in the owner’s pocket, an increase of cleaner energy and most of all no need to fill every single space with costly panels. With this effective solution and with fewer panels you will achieve more, leaving you more free space on the roof to use at your own leisure and also stopping the urge to implement eyesore structures. Preparation and proper product application are the secret to prevent a piss poor performance. It sounds simple when you
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Waterproofing
Malta Business Review
read it but it requires dedicated people with a lot of good will and the desire to always learn new things in order to be achieved. An important factor that one also has to consider is who will carry the works. REMEMBER never let anyone experiment with your home. Delicate works like waterproofing should be carried out by professionals and properly trained people. Always make sure that the persons are traceable and trustworthy. It is therefore recommended that you always ask the persons you wish to commission the works if they are affiliated with the Malta Professional Waterproofing and Resin Flooring Association and demand to see their affiliation Card. This way you can determine whether or not the person has the necessary knowledge to do a proper job. The Malta Professional Waterproofing and Resin Association is constantly monitoring to make sure that its members are working according to the trade and provides them with technical assistance should the need arise. The Malta Professional Waterproofing and Resin Flooring Association was established with an aim in mind, to teach all its members proper working modalities and product knowledge. The more you know the better, especially when it comes to waterproofing. Every job is different from the previous one
and different supports require different preparations. The ability to know which materials are to be used and for what reason is the secret of a successful Installer. The Resin and Membrane Centre is Malta’s largest showroom with regards waterproofing and resin flooring, it is situated in the centre of the island at 264 Old Railway track St Venera and is reachable practically from anywhere. We make sure that every work we undertake is carried out according to the trade requirements. Same can be said for our retail sector, we make sure to give the proper information on all our products to all our esteemed clientele and the retail outlets that sell our goods.
We are also proud to say that professional formation with regards waterproofing and resin flooring to all Maltese applicators is now a reality thanks to a combined effort with NAICI International academy, which holds regular teaching classes in Malta. All this is being made possible because we believe in Malta and in the abilities of the Maltese applicators to produce high quality workmanship. We are proud of what we sell and proud to use products that have we the environment at heart. MBR For more information visit The Resin and Membrane Centre showroom at 264 Old railway track St Venera, Malta www.theresincentre.com
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Malta Business Review
Newsmakers
Crunch time for the Maltese Government: Spanish General Corruption risks tarnishing Malta’s good name in Europe Directorate of and with very few politicians making a case and speaking up. Taxes Ruling Affects Simon Busuttil then moved on to the list of Maltese Participation priorities that will be overshadowing Malta’s Presidency in 2017, including, but not limited to, migration, terrorism, climate change, Syria Exemption A binding tax ruling recently handed down -has clarified the position with regards to tax refunds received by corporate shareholders of Maltese subsidiaries. The tax refund system in Malta grants shareholders of Maltese companies the right to receive a refund of the corporate tax paid in Malta by the Malta company when certain conditions are met. Maltese companies are subject to tax at a flat rate of 35% on their worldwide income. By virtue of the full imputation system, a tax refund of the Malta tax paid by the company is available to the shareholders upon dividend distribution to the shareholders to avoid economic double taxation. When the dividends are distributed by the Malta company to the shareholders out of its trading income, the refund paid to the shareholders by the Inland Revenue Department would be that of 6/7ths of the Malta tax paid by the company. According to the Spanish tax ruling, all such refunds received by Spanish corporate shareholders of Maltese companies will be treated as dividends to which the Spanish participation exemption may apply. The latter regime exempts dividends and capital gains received from shareholdings if certain conditions are met, as follows: 1.
One must hold a minimum stake of 5%, directly or indirectly, in the corporate capital or shareholders’ equity of the entity. This must be held continuously for one year. Alternatively, the 5% requirement is also deemed to be met if the acquisition price of said stake exceeds 20 million Euro;
2.
The equity must have been subject to a minimum tax of 10%. This minimum level of tax is deemed to be met if the foreign subsidiary is resident in a country with which Spain has concluded a double tax treaty (such as Malta). MBR
To find out how this ruling could affect you, please contact Ramona.Azzopardi@whpartners.eu
During a recent conference on Malta’s EU Presidency 2017 organised by MEP Roberta Metsola, titled ‘Malta in the Driving Seat’, Leader of the Nationalist Party Simon Busuttil reflected on a myriad of scenarios leading to and resulting from Malta’s impending EU Presidency. He encouraged the importance of having a successful Presidency by a small member state. Experience has shown that some of the best Presidencies have been carried out by small or medium-sized countries within the EU. These have provided a model to follow, one in which a small member state can leave an imprint. Holding the Presidency is a huge privilege and something to be proud of, and small states especially have an influence which supersedes their actual size. Small states that are seen to survive also seek to integrate. Simon Busuttil also spoke about the Nationalist Party and its roots to European integration. He stated that although the party took on that name due to its achieving Malta’s independence, in the present, the title might take on a different meaning on an European stage. However, he added that our country stands to gain from European Union integration. Challenges are huge and are around every corner. Whilst condemning the tragic murder of UK Labour MP Jo Cox, Simon Busuttil opened up about Brexit. He stated that this sentiment and its resulting referendum have been in the making for a number of years, with nobody making a case for the European Union in the United Kingdom. It all started off in 1973 with the media viciously opposing the idea of Europe,
and Libya. He stated that although a lot has been said already during the conference, the common thread linking them is that no single country, no matter the size, can overcome those priorities singlehandedly, and that is why the EU makes sense. He said that throughout his 9 years in the European Parliament, he spoke widely of migration, however member states were too slow to discuss and implement solutions. As a result, it took one million Syrian refugees moving towards Germany, the largest European country to start addressing this issue seriously. None of these challenges can be overcome by countries acting on their own. In conclusion, Simon Busuttil said that he feels very proud that Malta will be holding the Presidency. However, he added that in our country today, we have a government that has allowed the only Minister of an EU country involved in the Panama Scandal to stay in office. Simon Busuttil said that two days ago, Nationalist MPs left the Parliamentary Chambers because they could not entertain a discussion by this Minister. He stated that as a country, Malta’s reliability and credibility are at stake and what is unacceptable for him, is also unacceptable for Members of the European Parliament and European institutions. He appealed to the Prime Minister to not start the Presidency with those two persons on board, because he would not be taken seriously. Simon Busuttil also encouraged social partners and the civil society to stand up for the reputation of our country. He added that new details are emerging on a new scandal, a corruption scandal, one which puts us face to face with our credibility with the European Union. He questioned how the government could proceed with this nomination, seeing that the Governor of the Central Bank of Malta would be a representative of the European Central Bank. With a hint of frustration, he added that many people like himself have worked hard for Malta’s reputation within the European institutions and would be very disappointed to see it go down the drain. He appealed to the Government to remedy the situation before it’s too late. MBR
Source: PN Press
Farewell to Air Malta’s Captain Charles MasSA The very first Air Malta flight ever captained by a Maltese pilot was the departure of KM116 to Gatwick on the 8th of October 1985. The Captain of that flight was 31 year old, Charles Massa. At the time all Air Malta flights were captained by foreign pilots and Charles had been flying under supervision with them in preparation for his command. The start of Air Malta had heralded new and exciting opportunities for young Maltese people interested in having a career in aviation. In 1974 the possibilities of becoming a pilot in Malta were very remote. After 41 years flying for Air Malta, 31 of which as a Captain, Mr Massa flew a total of 25,000 hours and piloted over 8,000 take-offs and landings. 66
Captain Massa together with his crew on his last flight. From left Rebecca Micallef, Claire Muscat, First Officer Paul Sultana, Analise Zammit, Captain Charles Massa, Anthony Schembri and Ian Gauci Borda. Photos: Jason Muscat / Air Malta
His last flight KM 612, Malta – Rome – Malta of Thursday 5th May. Contacted for a comment Captain Massa said, “Since I have been flying I have seen a lot of changes in the aviation industry – all for the better. From improvements in air safety to the changes in aircraft technology that revolutionised the way we fly including flying instruments and navigational aids. Today we fly with more fuel efficient aircraft and technological improvements in this area are bound to make aircraft more efficient and safe.” The airline thanks Captain Charles Massa for his excellent contribution throughout all these years and wishes him a happy retirement. MBR
Currency Rating
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