APAC Insider July

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APAC Insider Magazine / July 2016

Implications for BIM in China Clyde & Co explore how BIM will affect the construction market in China.

Allied Wallet Explores Growth in the East Allied Wallet provides customized payment solutions to businesses around the world, and has been expanding into the Asian market for many years.

We interviewed Tech Billionaire Andy Khawaja to find out more about Allied Wallet’s success in the Asia Pacific Region.

Hong Kong Boards Admit Failure on Managing Bribery in New Report

Growing Demand from APAC Predicted to Drive the Global Embedded Systems Market

APAC Insider Magazine / July 2016

Editor’sNote Welcome to the latest issue of APAC Insider Magazine.

In this issue, we provide you with the latest news and updates from across the Asia Pacific area.

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Our exciting main feature is our interview with Andy Khawaja, CEO of leading ecommerce specialist Allied Wallet, who provides us with an exclusive insight into his firm’s work in the region.

Building Information Modelling (BIM) is the latest trend in the construction industry. Clyde & Co explore the implications for this technology in China.

Real estate in China is a hot topic, and as such we explore the latest developments in this space, including the new investment by top Chinese Real Estate Investment Managers Kailong.

In addition, a number of Hong Kong board members admit to having flawed anti- corruption policies, which potentially mean that bribery and other fraud could be committed.

Further afield in India, pioneering cold chain business Dulas joins with Indian solar company Sunintown for solar refrigeration deployment as India moves to develop domestic vaccine programme in 2017.

We hope you enjoy this issue.

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Contents 4. News

Features 12. Implications for BIM in China 14. Allied Wallet Explores Growth in the East 16. Best IP Law Firm - Malaysia 18. Implications for BIM in China 20. SpeedyCloud Partners with Tenable Network Security to Boost Cloud Security for Customers in China 22. Latest Appointments Highlights Importance of APAC for Media 24. Blueshift Expands Asia Pacific Presence, Hires Former WalmartLabs and Groupon Execs 28. Growing Demand from APAC Predicted to Drive the Global Embedded Systems Market 30. Hong Kong Boards Admit Failure on Managing Bribery in New Report 34. Dulas and Sunintown Partner for Indian Cold Chain Supply 36. The Institute of Risk Management (IRM) 38. Office Space in Town Secures Backing from Top Chinese Real Estate Investment Managers Kailong for Its ÂŁ160 Million London Serviced Office Joint Ventures

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APAC Insider Magazine / July 2016

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Creditsafe Puts 40 Million Chinese Company Credit Reports Online

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• Announcement follows the recent international expansion of Creditsafe’s online credit report platform to offer information in 102 languages on over 190 million companies in 51 countries • UK companies wishing to trade with China can now check creditworthiness of potential customers and suppliers before committing to commercial partnerships Creditsafe, the world’s most-used provider of company credit reports, has announced that it has added credit reports on 40 million Chinese companies to its platform. The news follows Creditsafe’s recent announcement that its system provides information on over 190 million companies in 51 countries, including Australia, Bangladesh, India, Nepal, Pakistan, Russia, South Korea, Sri Lanka and Taiwan.

China is now the world’s second largest economy after the USA and UK exports to China rose by 9% in 2014 to £14.1 billion. China is also the largest country in the world by population and is forecast to be the world’s biggest luxury goods market by 2020.

Prime Minister David Cameron described the recent visit of Chinese ambassador Liu Xiaoming to the UK as marking the dawn of a “golden era” in bilateral ties between the two countries.

According to UK Trade and Investment (UKTI) advice opportunities for UK companies to sell into the Chinese market include the supply of luxury consumer goods and groceries, energy saving technologies, luxury cars, aircraft interiors and offshore wind technologies.

Despite the economic opportunities created by the Chinese and UK governments as well as general growth in consumer demand for products and services, UK companies still need to be aware of potential risks before trading with China. These challenges include language barriers, a relatively complex business culture and the fact that some parts of the economy are still closed to full foreign participation.

Rachel Mainwaring, Operations Director at Creditsafe, commented: “We are excited to provide this new set of reports on Chinese companies as the latest stage in our international expansion strategy. The opportunity for UK organisations to build long-lasting commercial relationships with Chinese companies is huge, but not without its risks. By finding out as much as possible about companies using our credit reports, organisations can understand who they are dealing with and undertake due diligence in advance of setting up face-to-face meetings.”

The range of information Creditsafe can obtain in each country will vary. Using local official sources and registries in every country, Creditsafe is able to quickly answer questions about a company’s stability and financial health. Where official information is not available, Creditsafe will conduct a direct interview with the business and freshly investigate.

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news

Dragon Capital to Float Largest Vietnam Dedicated Fund on the London Stock Exchange

Dragon Capital, one of the leading investment management companies investing in Vietnam, today announces the intention to list its flagship fund, Vietnam Enterprise Investments Limited (“VEIL”), on the Main Market of the London Stock Exchange.

Launched in 1995, VEIL is the largest and longestrunning fund focused on Vietnam with a Net Asset Value (“NAV”) of approximately US$850 million.

The London listing is expected to create a more transparent and liquid market in VEIL’s shares, widening potential ownership, attracting greater analyst coverage, increasing VEIL’s profile and narrowing the discount to NAV at which the shares currently trade.

On 21 June 2016, VEIL will hold an EGM for the approval of certain matters relating to the proposed listing. It is expected that admission to trading of VEIL’s shares on the Main Market of the London Stock Exchange will take place in early July 2016.

Post-listing, VEIL is expected to become a key vehicle for exposure to Vietnam given its size and equity-only investment mandate, appealing to both institutional and retail investors. Approximately half of VEIL’s NAV is represented by stocks which are at their foreign ownership limits and cannot otherwise be accessed by foreign investors.

In macroeconomic terms, Vietnam has an attractive growth profile. GDP rose 6.7% in 2015. There are strong FDI inflows and a young, expanding and well-educated workforce. The country also stands to benefit from the recent Free Trade Agreement with the EU and the US-led Trans-Pacific Partnership.

VEIL is managed by Dragon Capital, established in 1994 with approximately 100 employees and US$1.3 billion under management across various funds and accounts.

Dominic Scriven, Executive Chairman of Dragon Capital Group, said: “This is a milestone for VEIL and Dragon Capital. With the listing in London, we are responding to demand from a wide range of investors looking to benefit from Vietnam’s growing economy. Increased access and transparency will overcome barriers for a number of institutional and retail investors.”

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APAC Insider Magazine / July 2016

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ESP Properties and the Branded Entertainment Network (BEN) Extend Partnership into Asia-Pacific Region

Effort focuses attention on product placements and branded integrations to amplify brands and captivate audiences.

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ESP Properties, a sports and entertainment marketing agency dedicated to rightsholders—and part of WPP’s GroupM, the world’s leading media investment management group—has announced that it has extended its strategic partnership with The Branded Entertainment Network (BEN), the world-leading marketplace for branded integration in popular global entertainment, into the Asia-Pacific region.

With the evolution of the sponsorship landscape and brands becoming more literate in new age advertising, product placements and brand integrations have emerged as a powerful form of advertising that targets consumers within content as natural part of their viewing experience. As marketers focus on maximizing returns on their advertising investments and move past commercial avoidance, this has become one of the most important vehicles by which a brand can reiterate its message to viewers in a subtle yet impactful manner.

BEN is an interactive platform that provides end-toend access to film, TV, OTT, digital influencer, music video and celebrity brand placements. From a range of highest grossing films to the top rated TV series to broad-ranging influencer programming across online video networks, BEN aims to help brands discover content that delivers their target audience and is aligned with brand objectives.

With the pace of change and innovation accelerating in the advertising industry globally, BEN’s expansion into Asia Pacific will be led by ESP Properties APAC, one of the region’s foremost advertising, marketing and sponsorship agencies.

Gary Shenk, CEO of BEN, commented, “ESP Properties is clearly a leader in understanding and capitalizing on the power of branded integrations in content. Extending our partnership with ESP in Asia Pacific is a critically important strategic decision that will further our business and extend our reach for the brands and content partners that we represent in the high-growth APAC markets. We are excited and pleased to be working so collaboratively with ESP on this growth initiative.”

Toh Jin Wei, Managing Director of ESP Properties added “Brand integration in movies and sitcoms have the ability to build long-term relationships with viewers by connecting with them emotionally yet subtly. It can add a sense of realism to a movie and foster brand recall amongst viewers in a tactful manner which is what brands these days are looking for. We are very excited about our new partnership with Branded Entertainment Network here in Asia as we believe in the value of the product and that the platform will become the preferred choice for branded integration campaigns.”

As part of the agreement, ESP Properties will have access to BEN’s technology, database of content, planning and analytics to enhance advertising, marketing and branded integration campaigns.

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GTT Expands Asia-Pacific Presence with New Services in Sydney

GTT Communications, Inc. the leading global cloud networking provider to multinational clients, has announced that it has increased its presence in the Asia-Pacific region with the expansion of its Point of Presence (PoP) in Sydney, Australia.

Through this network deployment, GTT is now able to provide multinational enterprises doing business in Australia with a comprehensive suite of wide area networking EtherCloud® services, Internet services and managed services, to complement its existing voice offerings in the region.

The Sydney PoP extends the reach of GTT’s global, Tier 1 IP network, ranked in the top five worldwide.

The site interconnects to multiple, diverse cable systems in the region to ensure network redundancy and high-performance connectivity, including the lowest latency route between Australia and the United States.

GTT’s Sydney expansion aligns with significant growth in Internet traffic in the Asia-Pacific region, particularly in the business sector. According to the Cisco® Visual Networking Index research report, Asia-Pacific will lead the world in business IP traffic by 2019, with 11.4 exabytes of traffic per month.

“This PoP expansion is a significant and strategic addition to the GTT network,” said Rick Calder, GTT president and CEO. “Our increased presence in Sydney provides our clients doing business in the region with improved connectivity and performance through our comprehensive suite of cloud networking services.”

GTT’s Sydney expansion marks the company’s fifth PoP in the Asia-Pacific region. This announcement follows the company’s recent announcement of new PoPs in the Middle East in Dubai, United Arab Emirates, and in Doha, Qatar.

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APAC Insider Magazine / July 2016

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Hong Kong Climbs to World’s Most Expensive Office Market

Asia accounts for four of the top five, CBRE Group reports

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Hong Kong has become the world’s highest-priced office market and Asia continued to top the list of the world’s most expensive office locations, accounting for four of the top five markets, according to CBRE Research’s latest semi-annual Global Prime Office Occupancy Costs survey.

Hong Kong’s (Central) overall prime occupancy costs of US$290 per sq. ft. per year topped the “most expensive” list, displacing London’s West End (US$262 per sq. ft.). Beijing (Finance Street) (US$188 per sq. ft.), Beijing (Central Business District (CBD)) (US$182 per sq. ft.) and Hong Kong (West Kowloon) (US$179 per sq. ft.) rounded out the top five.

The study also found that the real estate recovery in Ireland continued to gain momentum, with Dublin, which experienced a 50 percent drop in rents during the downturn, showing the second-largest year-overyear prime occupancy cost increase among the 126 cities surveyed (up 16.6 percent year-over-year)— second only to Hong Kong West Kowloon (up 19.5 percent year-over-year). In North America, real estate fundamentals saw steady improvement with both Atlanta (Downtown) and Seattle (Downtown) among the 10 markets with the fastest growing prime occupancy costs.

Global prime office occupancy costs—which reflect rent, plus local taxes and service charges for the highest-quality, “prime” office properties—rose 2.4 percent year-over-year, with the Americas up 2.3 percent, EMEA up 2.1 percent and Asia Pacific up 2.7 percent.

“We expect the global economy to keep growing, and the global service sector, the primary occupier of prime office properties, will continue to expand

through periods of volatility, “ said Richard Barkham, global chief economist, CBRE. “Since inflation is low, the growth in prime office occupancy costs is significant for both users and investors.”

CBRE tracks occupancy costs for prime office space in 126 markets around the globe. Of the top 50 “most expensive” markets, 20 were in Asia Pacific, 20 were in EMEA and 10 were in the Americas.

Asia Pacific was home to seven of the top 10 most expensive markets—Hong Kong (Central), Beijing (Finance Street), Beijing (CBD), Hong Kong (West Kowloon), Tokyo (Marunouchi/Otemachi), New Delhi (Connaught Place - CBD), and Shanghai (Pudong).

The service sector will show particularly strong growth in Asia as pensions and insurance products gain market share. So occupancy cost growth will continue to trend upwards at a moderate pace.

Hong Kong (Central) is the only market in the world—other than London’s West End—with a prime occupancy cost exceeding US$200 per sq. ft. Hong Kong Central’s double-digit growth in occupancy costs was fuelled by two factors: an ultra-low vacancy rate due to lack of new development and continued demand for high-quality space in prime locations by mainland Chinese companies.

The most expensive market in the global ranking from the Pacific Region was Sydney (US$93 per sq. ft.), in 22nd place.

A few key Southeast Asian markets registered decreases, including Singapore and Jakarta.

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news

NTT Communications Announces New C-Suite for East Asia Headquarters

NTT Communications has announced key senior management changes at NTT Com Asia, the company’s East Asia Headquarters in Hong Kong.

Mr. Hideaki Ozaki has been named the new President and CEO of NTT Com Asia, and joined

by Mr. Theodoric Chan as Chief Commercial Officer (CCO), and Mr. Taylor Man as Chief Technology Officer (CTO). The three C-Suite executives will oversee business strategies and development in the East Asia region covering Hong Kong, Macau, Taiwan and Korea.

The three executives bring decades of industry experience driving development of NTT Communications’ business with enterprises and ICT partners in Japan and other Asian markets to their new roles at NTT Com Asia.

“I am very honored to join NTT Com Asia, an organization that delivers high quality and innovative ICT solutions for enterprises to establish a strong foothold in Hong Kong, Asia and beyond. Under the leadership of Mr. Takanobu Maeda since 2009, the organization has experienced tremendous business growth and transformed itself from a telco to a data center, cloud and ICT industry leader. I am excited to be part of this fast growing company,” said Mr. Ozaki, formerly Head of Carrier Relations and Planning Division, Global Business at NTT Communications headquarters.

Mr. Ozaki has played a critical role in expanding NTT Communications’ overseas business and developing relationships with other ICT partners around the world, and has participated in many corporate investment and M&A projects in Asia.

Apart from Mr. Ozaki, the company also announced the appointment of two C-suite executives. Mr. Theodoric Chan has taken up the role of Chief Commercial Officer and will oversee the company’s sales and marketing strategies, while Mr. Taylor Man is promoted to Chief Technology Officer and will oversee the company’s product strategies. Mr. Brandon Lee, the former Chief Strategy Officer of NTT Com Asia, has joined NTT Holding Company to develop the group’s global business. He will remain a member of NTT Com Asia’s Board of Directors.

“Investing in technology and talent is the first step in enterprises’ digital transformation,” said Mr. Ozaki.

“The new executive team is built upon this vision to align our leadership and organizational structure to make this happen. I look forward to working with the NTT Communications’ team in Hong Kong, Macau, Taiwan and Korea to take the company to new heights,” he noted.

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APAC Insider Magazine / July 2016

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APABA-DC Gains New Member

Dorsey Partner Jenny Lee Joins the Board of the Asian Pacific American Bar Association of D.C.

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International law firm Dorsey & Whitney LLP has announced that Partner J.H. Jennifer Lee has been elected to the board of directors of the Asian Pacific American Bar Association of Washington, D.C. She will serve as co-chair of the Partners and Senior Counsel Committee of the APABA-DC board.

Ms. Lee represents clients on matters involving consumer financial protection enforcement and counsels clients on regulatory compliance.

As a litigator who worked inside the Consumer Financial Protection Bureau (Bureau) Office of Enforcement for several years beginning with the Bureau’s founding, Ms. Lee possesses unique experience that she draws upon to provide clients with defense strategies for enforcement by or litigation with the Bureau. Ms. Lee’s expertise also includes responding to Bureau requests involving data-collection, rulemaking, enforcement Civil Investigative Demands or supervision examinations.

In addition, Ms. Lee also represents clients in corporate compliance matters or in proactive engagement opportunities with the Bureau to discuss upcoming regulations or industry-wide policy perspectives. In addition to Bureau matters, Ms. Lee has represented clients on consumer financial protection matters involving state banking regulators or attorneys general, committees of Congress and the Department of Justice. She assists in efforts to implement or update compliance programs and decrease risk or litigation exposure in light of the continually evolving landscape of consumer financial protection regulations. Ms. Lee has a J.D. from the University of Michigan Law School and a B.S. degree from Duke University.

APABA-DC is the oldest and largest association of Asian Pacific American attorneys in the Washington, D.C. area. APABA-DC supports the professional growth and advancement of its members, cultivates an understanding of the issues facing the Asian Pacific American legal community and the Asian Pacific American community-at-large, and promotes the involvement of its members in the greater community.

“This is a well-deserved honor for Jenny and for the Firm,” noted Ken Cutler, Managing Partner of Dorsey & Whitney. “Community and diversity are Dorsey core values, and service on the board of the APABA-DC is an extremely effective way for Jenny and the Firm to give back to the profession.”

“I look forward to my work on the APABA-DC board,” noted Ms. Lee. “I have always been inspired by the organization’s mission and impressed by its accomplishments. It is an honor to contribute to their work.”

Clients have relied on Dorsey since 1912 as a valued business partner. With locations across the United States and in Canada, Europe and the Asia-Pacific region, Dorsey provides an integrated, proactive approach to its clients’ legal and business needs. The firm represents a number of the world’s most successful companies from a wide range of industries, including leaders in the banking, energy, food and agribusiness, health care, mining and natural resources, and public-private project development sectors, as well as major non-profit and government entities.

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Provectus Biopharmaceuticals Establishes Australian Subsidiary

Corporate Structure Better Reflects International Research Efforts.

Provectus Biopharmaceuticals, Inc., a clinical-stage oncology and dermatology biopharmaceutical company has announced that it has formed an Australian subsidiary, Provectus Biopharmaceuticals Australia Pty Ltd. In addition, the Company is opening a Sydney office in New South Wales.

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Peter Culpepper, Interim CEO, stated, “The creation of an Australian entity is a fundamental part of our plans for extended global reach in conjunction with planned partnering for commercialization of PV-10.”

He noted, “Provectus has already been very active in Australia for years because of our research into PV-10 as an investigational treatment for melanoma. In fact, we began our phase 1 study of PV-10 in 2005 at the Sydney Melanoma Unit in North Sydney and the Newcastle Melanoma Unit in Waratah, both in New South Wales. Since then, we have also worked with the Princess Alexandra Hospital in Brisbane, Queensland, the Royal Adelaide Hospital in Adelaide, South Australia, and the Peter MacCallum Cancer Centre in Melbourne, Victoria.”

Culpepper concluded, “With a subsidiary in Australia, we are bringing our corporate structure in line with our scientific work. Our research and development program has been international from the very beginning, and now, Provectus is an international company. The new unit should make it easier to work with the Australian regulatory authorities, and having an office in the region may facilitate our work in Asian markets as Sydney is just two hours ahead of Beijing, Hong Kong and Singapore. If and when PV-10 receives approval in Australia and other nations in the region, we will have pre-positioned ourselves to develop a sales and marketing force.”

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Provectus Biopharmaceuticals is investigating new therapies for the treatment of skin cancer, liver cancer and breast cancer. Provectus’ investigational oncology drug, PV-10, is an ablative immunotherapy under investigation in solid tumor cancers. The Company has received orphan drug designations from the FDA for its melanoma and hepatocellular carcinoma indications. PH-10, its topical investigational drug for dermatology, is undergoing clinical testing for psoriasis and atopic dermatitis.

Provectus has completed Phase 2 trials of PV-10 as a therapy for metastatic melanoma, and of PH-10 as a topical treatment for atopic dermatitis and psoriasis.

Information about these and the Company’s other clinical trials can be found at the NIH registry, www. clinicaltrials.gov. For additional information about Provectus, please visit the Company’s website at www.provectusbio.com or contact Porter, LeVay & Rose, Inc.

APAC Insider Magazine / July 2016

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Radware Expands Focus on ASEAN Market

Firm opens new office in Thailand.

Radware, a leading provider of cyber security and application delivery solutions ensuring optimal service level for applications in virtual, cloud, and software-defined data centers, has announced opening of its new office in Bangkok, Thailand.

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Strategically located in the upcoming Ratchada area in Bangkok, the new office, which also equips comprehensive training and demonstration facilities, will support Radware’s operation across Thailand. In order to provide the best solutions and services to our expanding customer base in the Telco, Banking, Government, Retail and Manufacturing sectors, Radware Thailand office has also added additional resources, including the appointment of a new Enterprise Business Manager focusing on Banking and Government customers and a new Systems Engineer.

“Radware has been established in Thailand for more than 10 years and we will continue to provide investment and support our operations here,” said Paul Coates, VP of South APAC, Radware.

“Asia Pacific continues to be a strategic region for Radware, and building out a new infrastructure in Thailand allows us to provide even faster technical and sales supports to our valued customers in various industries.”

Radware has 16 offices setup in the Asia-Pacific region to fully serve and support its customers and partners, including major markets in Australia, China, Hong Kong, India, Japan, Korea, Singapore, Taiwan and Thailand.

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A nsiderac

Readership

China 29,827

Japan 23,861

South Korea 3,692

Pakistan 4,353

Taiwan 4,031 Philippines 2,580

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Singapore 10,480

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Thailand 2,580 Malaysia 11,125

India 23,378

Sri Lanka 1,499

Indonesia 4,676 Australia 36,276

Other 1,740

New Zealand 1,129

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APAC Insider Magazine / July 2016

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Allied Wallet Explores Growth in the East

Allied Wallet provides customized payment solutions to businesses around the world, and has been expanding into the Asian market for many years. We interviewed CEO Andy Khawaja to find out more about the firm’s work in the Asia Pacific Region.

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Allied Wallet offer a wide range of customized payment and ecommerce solutions for merchants throughout both the world and the corporate landscape. In recent years the firm has turned its attention to the Asian market, as growth in the region led to a gap in the market for quality payment solutions.

Andy Khawaja, CEO of Allied Wallet, explains how the firm came to move into the region, which has the second largest ecommerce market in the world after the U.S, and the range of services it provides, which are tailored to suit the individual needs of the market.

“Around seven years ago I began to witness massive growth in Asia, and as such five years ago I incorporated Allied Wallet in Hong Kong, which serves as my base in the APAC region. I noticed that the area was a rising hub not just for technological development, but also for the online payments market, as the consumer sector has expanded rapidly in Asia as the region’s economies have grown.

“From our offices in Hong Kong we serve predominantly the Hong Kong, Chinese and Japanese markets, providing merchant services, credit card processing and cyber security services. Cyber security is a key area that we focus on, as we have noticed that before we entered the market these services were not being provided.

As such we have been educating the market and supporting them, providing services to ensure that merchants are not able to sell fraudulent goods, as well as PCI card encryption to reduce credit card fraud and supporting B2B clients in reducing criminal activity.

“In addition, we also offer the full complement of Allied Wallet services for both merchants and customers, including payment processing, merchant services and our free digital wallet solution.”

Although shopping is a key aspect of the Asian ecommerce market, another key segment is social media and gaming according to Andy.

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“Dating sites, social media and online gaming are all key growth areas for the online payments market in Asia. Although many of these sites offer free registration, many offer users the chance to make purchases, for example in-game purchases which will provide enhancements for the player, such as coins or new capabilities. Allied Wallet supports these sites, as this, particularly online gaming, is an ever growing trend in the region.

“There are a wide variety of games available, and although they are being developed in Asia they are being used by gamers around the world. One of Allied Wallet’s unique features is that our platform supports payment from customers around the world, and even allows users to pay using their local credit or debit card. This allows users of Asian based gaming sites to pay easily and ensures that the game developers are able to reach an international audience.”

Being a truly global platform is of vital importance in the growing worldwide economy, according to Andy.

“With the increase in global travel it is crucial that firms integrate their technology to support local forms of payment. Allied Wallet’s technology allows users to pay using virtually any method, including local forms of payment such as Japan’s JCB cards. This is important for those who use our service in that region and ensures that they are able to use their cards where ever they may be.”

Looking ahead, Andy believes that the region’s obsession with social media will continue, and as such is keen to launch his latest business idea: a social media integrated virtual shopping experience.

“My new project is an online shopping mall to rival eBay and Alibaba, in which merchants bid to give clients the lowest price! I believe this innovative shopping experience will resonate well in the Asian market, and as such I am dedicating 50% of the market share for this new venture to that market: the remainder will be split between the Arab, US and European markets.

“Social media integration will be a key feature of the new online shopping mall, allowing users to share their purchases and recommendations with friends. This will particularly appeal to the Asian market, which is heavily focused on social media websites.

“This latest venture will provide us with exciting opportunities to grow in the Asian market and I look forward to taking advantage of these in the future. I foresee massive growth in this market throughout 2016 and into 2017, which will be interesting and exciting for Allied Wallet.”

Company: Allied Wallet LTD Website: https://www.alliedwallet.com/

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APAC Insider Magazine / July 2016

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Best IP Law Firm - Malaysia

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Chung Chambers is an intellectual property legal firm based in Penang that helps to protect and leverage clients’ IP assets such as trademark, patent, copyright, industrial design and others. We spoke to Managing Partner Patricia Chung to learn more.

Chung Chambers provide legal services in relation to intellectual properties and corporate, including registration, execution, civil and criminal enforcement in relation to corporate and intellectual property matters, drafting all kinds of corporate agreements including but not limited to licensing and franchising agreements and also online legal consultations.

Patricia explains the firm’s mission and the steps it takes to ensure that clients receive the highest quality of service.

“Chung Chambers’ mission is to grow together with clients and we believe this is the way to strengthen the bond between us and our clients, therefore we provide progressive legal platforms for our clients from a new startup corporation to Initial Public Offering while leveraging their intellectual properties.

“All of the dedicated lawyers here at Chung Chambers believe that the most rewarding aspect working in this profession would be assisting our clients to give them piece of minds in all legal aspects and Chung Chambers often provide legal advice prior to any disputes occur as our team believe ‘Prevention is always better than Cure’.”

Patricia has a corporate background which has allowed the firm to move into intellectual property and arbitration in order to provide a one stop legal service to corporate clients from protecting to leverage their intellectual properties.

She is now a registered member of Chartered Institute of Arbitrators (MCIArb), UK and Malaysia branch and also a registered member of Malaysian Institute of Arbitrators (MMIArb).

Looking to the future, Patricia believes that the firm’s embracement of digitalisation will help support its growth and further its expansion.

“With our stable and organised software system, we trust Chung Chambers can develop further to maintain and grow together with the existing vast and stable clientele base by delivering quality services.”

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Company: CHUNG CHAMBERS Advocates & Solicitors Name: Patricia Chung, Managing Partner Email: pat@chungchambers.com Web Address: www.chungchambers.com Address: B303-4-15, Krystal Point 1, Jalan Sultan Azlan Shah, MK 12, 11900 Bayan Lepas, Penang, Malaysia Telephone: +604-6402755/2 Facsimile: +604-6402758

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APAC Insider Magazine / July 2016

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Implications for BIM in China

Clyde & Co explore how BIM will affect the construction market in China.

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China is one of the fastest-growing Building Information Modelling (BIM) countries and has an increasing number of construction projects adopting BIM technology. Although BIM in China is still in its early development, available BIM technology in the past decade has been generating considerable value for enterprises in the construction industry. The BIM technology has also been addressed on a nationwide scale. For instance, China’s Ministry of Housing and UrbanRural Development issued the “Guiding Opinions on Promoting the Application of Building Information Modelling” in 2015. With the occurrence of successful BIM applications in a host of high-profile projects such as the Z15 Tower in Beijing, the Disneyland Resort in Shanghai and the Ping An International Finance Centre in Shenzhen, members of the construction industry are shifting their attention to this hot topic.

Up to around ten years ago, only 2D design was used by civil designers and a single change in one work sheet could trigger a chain of revisions to a multitude of related drawings. With the introduction of Computer Aided Design (CAD) software, 3D design gained popularity in the civil engineering sector. However, projects that had already been designed or commenced in the 2D era, complicated and significantly slowed the acceptance of BIM technology which involves modelling in a completely integrated 3D-to-4D environment with intelligent data running through the whole process.

Hence the lack of experience, less mature technology and insufficient funding to support such massive system implementation remains the prevailing obstacles to BIM’s development in China today. Furthermore, in the China construction context where complex multi-level contracting and handshake agreements between contractors are not uncommon, to fully implement an allin-one project from initial planning to completion, requires a long term, transparent and highly structured view.

On a positive note, a wave of regulatory mandates and industry rules in recent years have helped draw a clearer picture to support BIM in China. The Ministry of Science and Technology has included BIM into its key research topics in the “Twelfth Five-year Plan.” Also large developed cities are endorsing BIM, such as Shenzhen which has implemented its own standards for BIM management and Shanghai which is establishing a Model Contract for the tendering of consultancy services for BIM technology. The list goes on and BIM’s vigorous expansion throughout all phases in China’s construction is gradually taking shape.

Still, there is an urgent need for cooperation from many parties. Of the greatest importance, corresponding legislative actions are called upon to support BIM’s implementation in construction projects and to ensure information security as well. Apart from the legal environment, technical resources such as advanced databases to manage large amounts of data and platforms to facilitate information sharing are essential foundations to allow BIM projects to operate. Last but not the least is the training of professionals to master BIM software, which is already a wellrecognized trend among construction practitioners and engineering students.

A final point worth mentioning is the advanced achievements in BIM made in Hong Kong.

The Hong Kong Institute of Building Information Modelling (HKIBIM) was established in 2009.

Consequently, BIM took off earlier in Hong Kong and benefits from complimentary technological advantages. The combination of potential business opportunities in Mainland China’s construction sector, the advances already achieved supporting BIM in China along with Hong Kong’s competent personnel and experience in executing BIM points to future success. We do expect that 2016 will be a promising year for BIM in China.

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APAC Insider Magazine / July 2016

Feature

SpeedyCloud Partners with Tenable Network Security to Boost Cloud Security for Customers in China

Continuous monitoring and vulnerability management solutions from Tenable provide cloud security assurance for customers of leading Chinese IaaS provider.

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Tenable Network Security®, Inc., a global leader transforming security technology for the business needs of tomorrow, has announced Chinese cloud industry leader SpeedyCloud as a partner in China with the selection of Tenable’s market-defining continuous monitoring solution to provide customers with increased cloud security assurance and advanced vulnerability management.

By deploying Tenable solutions into its cloud platform, SpeedyCloud is able to provide customers with comprehensive visibility across multi-tenancy environments, and the critical context necessary to take decisive action to improve their security postures. The continuous monitoring capabilities enable SpeedyCloud to collect real-time data across customers’ systems to assure the security of their networks.

“Understanding the importance of security, we’ve always been working hard to protect our customers’ digital assets. By partnering with Tenable to provide true continuous monitoring and advanced analytics, we can grant customers the benefits of cloud with the assurance that their data is secure,” said Hao Yu, CEO, SpeedyCloud. “With Tenable solutions now incorporated into our IaaS offering, we’re prepared to monitor and protect our customers’ cloud environments more fully.”

Tenable helps SpeedyCloud customers measure and address their risk exposure to provide assurance that applications deployed in the cloud are secure. SpeedyCloud leverages Tenable’s SecurityCenter API to incorporate security data into SpeedyCloud’s self-developed graphical user interface (GUI) for customers.

This seamless integration makes the deployment more efficient and manageable.

Customers have access to Tenable’s Chinese-language reports and dashboards, which deliver consolidated vulnerability and continuous monitoring analytics. The dashboards and reports help to identify and prioritize threats and vulnerabilities, allowing for faster action and remediation of cyber threats.

“Cloud-based services introduce new levels of flexibility and elasticity that traditional computing platforms cannot provide,” said Gary Jackson, vice president APAC, Tenable Network Security. “SpeedyCloud has built its business around the goal of accelerating its customers’ success through the cloud, and Tenable is proud to provide security as an essential component of SpeedyCloud’s offering.”

Tenable formally entered the Chinese market earlier this year by establishing business entities and hiring employees in China.

“Tenable is investing heavily in the Chinese market, underscoring our confidence in the Chinese economy and signifying our plans to aggressively expand Tenable’s business operations, not only in China, but throughout Asia,” said Jackson.

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Tenable Network Security transforms security technology for the business needs of tomorrow through comprehensive solutions that provide continuous visibility and critical context, enabling decisive actions to protect your organization.

Tenable eliminates blind spots, prioritizes threats, and reduces exposure and loss. With more than one million users and more than 20,000 enterprise customers worldwide, organizations trust Tenable for proven security innovation. Tenable’s customers range from Fortune Global 500 companies, to the U.S. Department of Defense, to mid-sized and small businesses in all sectors, including finance, government, healthcare, higher education, retail and energy.

SpeedyCloud is the IaaS brand owned by Beijing SpeedyCloud Technology Co., Ltd., who is one of the leaders in cloud industry. Most of the team came from public IT operating and service companies.

SpeedyCloud provides the entire product line of IaaS related cloud products, including cloud servers, storages, object storages, cloud databases, SDN, CDN, DNS, etc. APIs are also provided for these categories. More than 12 cloud nodes spread in Asia, Europe and North America can be utilized to maximize global business for customer.

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APAC Insider Magazine / July 2016

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Latest Appointments Highlights Importance of APAC for Media

Leigh Terry Appointed CEO of IPG Mediabrands APAC whilst Minute Media hires Mark McFarlane as General Manager, Asia-Pacific and opens Singapore Office.

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IPG Mediabrands’ Global CEO Henry Tajer has announced the appointment of Leigh Terry as CEO of IPG Mediabrands in Asia Pacific. Terry is a highly regarded media innovator and leader whose career has spanned Europe and the Pacific.

“Asia Pacific is a key priority for regional investment over the next five years,” said Tajer. “The region continues to hold enormous potential for our clients and our business and Leigh possesses the talent, experience and vision to deliver on the plans we have in place.”

He added, “Leigh is a very highly respected and effective executive who has been on our most-wanted list for quite some time and I am very excited he has chosen to join us.”

Leigh Terry was the CEO of the Omnicom Media Group across Australia and New Zealand. He oversaw a network that has 900 people across 16 offices in seven international media businesses. Leigh has been a digital innovator for 16 years, having launched digital capabilities for OMD in London in 2000, later moving to Australia to launch the agency’s digital, data and direct operations.

Terry said: “After an amazing 18 years at Omnicom it was not an easy decision as I leave many friends, not just colleagues. However, with the broader international opportunities, energy, vision and leadership at IPG Mediabrands, I am excited to be entering a new chapter in my career. I am really looking forward to working with Henry and the team to deliver the vision and in doing so help take IPG Mediabrands to new heights.”

Leigh will start his new assignment with IPG Mediabrands at the end of 2016, and will partner with Reg Davidson, who was named chief financial officer of Mediabrands Asia Pacific earlier this year. Davidson is formerly CFO of IPG Mediabrands Australia.

IPG Mediabrands was founded by Interpublic Group in 2007 to manage all of its global media related assets.

Today, the firm manage over $37 billion in marketing investment on behalf of its clients, employing over 8,500 marketing communication specialists in more than 130 countries.

The firm is a new world agency group designed with dynamic marketing at its core. The company’s speed, agility and data smarts ensure we continue to create growth for many of the world’s biggest brands. IPG Mediabrands’ network of agencies includes UM, Initiative, BPN and Orion Holdings as well specialty business units including Magna Global, Cadreon, Ansible, Mediabrands Publishing, Reprise, Rapport and the IPG Media Lab. In addition, Minute Media, parent company of 90min and 12up, today announced the appointment of Mark McFarlane as General Manager, Asia Pacific. A seasoned media professional, McFarlane will be responsible for growing the company’s publisher relationships, engagements with brands and agencies

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90min, part of the Minute Media sports media family of brands, is the world’s fastest growing football media news destination. 90min taps into the passion and dedication of the hyper-connected fan by powering the production of authentic, engaging and socially driven content distributed to more than 50 million monthly users in ten languages around the world. In the APAC region, 90min is currently distributed in English, Vietnamese, Thai and Indonesian Bahasan.

Minute Media has experienced tremendous growth this year. Audience growth has climbed from 7.5 million unique visitors up to 55 million global unique visitors. More than 110 million users engage with 90min through social media monthly and 70 percent of the audience is under the age of 25. Minute Media enables more than 4,000 fan journalists to create a new form of rich, interactive, social content and is currently generating more than 15,000 pieces of curated content per month in 10 languages.

These latest developments highlight the growing interest in the region from media companies, as they look to expand their global reach and target an ever growing market.

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and broader business development and strategy throughout APAC. With McFarlane’s appointment, Minute Media has also opened a Singapore office, in addition to its existing office in Manila, to serve its growing brands.

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Prior to joining Minute Media, he held positions as Vice President Partnerships and Sales for Fox Sports and Commercial Director at Eurosport. He started his career in sports with SOCOG during the 2000 Sydney Games.

“I’m thrilled to be joining the Minute Media team during such an exciting time in the company’s growth and expansion,” said McFarlane. “Football continues to grow in popularity around the world, especially across the APAC region, and 90min gives football fans a platform to share their passion for the game and favorite players.”

“Mark will be a great addition to the global Minute Media team, as we focus on new areas to grow and expand,” said Asad Peled, Founder and CEO of Minute Media. “There are huge opportunities across the Asian region and Mark’s previous experience and passion for sports will help position us in this important market.”

Most recently, Minute Media announced a joint partnership with HT Media, one of the largest media companies in India to deliver 90min, Powered by HT. Minute Media is also exploring joint ventures in China and Southeast Asia to expand the 90min footprint, with the goal of bringing football content to the growing fanbase across the region.

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APAC Insider Magazine / July 2016

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Blueshift Expands Asia Pacific Presence, Hires Former WalmartLabs and Groupon Execs

Dhruv Shanker Joins as Vice President and Head of APAC; Nipun Bhatia Joins as Vice President of Engineering

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Blueshift, the leader in Segment-of-One Marketing, has added two highly experienced executives to its Asia-Pacific (APAC) team as the company continues its expansion in the region. Dhruv Shanker joins Blueshift as Vice President & Head of APAC based in Singapore, and Nipun Bhatia joins as Vice President of Engineering to launch the company’s operations in India.

San Francisco based Blueshift already serves several prominent customers in the APAC region, including Redmart, Singapore’s largest online grocer, as well as India based companies like Snapdeal, Shopclues, Urban Ladder and Oyo Rooms.

“Blueshift has helped us drive targeted lifecycle marketing and improve our reengagement rates dramatically,” said Todd Kurie, VP of Marketing at Redmart.

“With Blueshift, we are now able to launch personalized campaigns on email & mobile app push notifications, and drive a consistent message across different marketing channels.”

As VP & Head of APAC, Shanker will lead Blueshift’s expansion by establishing and developing relationships with brands and other leading marketers in the region. Prior to Blueshift, Shanker was the Head of Affiliate Marketing, Asia Pacific, for Groupon, based in Singapore. At Groupon, he was responsible for driving strategy, implementation and optimization for the company’s highest trafficked region. Before joining Groupon, he worked for Yahoo!, Google and Dell in a variety of strategic management positions.

As VP of Engineering, Bhatia will oversee Blueshift’s technology organization as the company continues to grow. Bhatia joins Blueshift from @WalmartLabs, where he was the Senior Director of Engineering, Smart Pricing, and led the team responsible for designing and executing the pricing platform that powers Walmart ‘s Global eCommerce. Prior to @WalmartLabs, Bhatia worked for Kosmix and Oracle in Silicon Valley, after graduating from Stanford University.

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APAC Insider Magazine / July 2016

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“As Blueshift continues its growth, we saw a great opportunity to introduce Segment-of-One marketing automation to the Asia Pacific region,” said Blueshift’s Co-Founder & CEO, Vijay Chittoor. “Dhruv and Nipun’s impressive expertise and track records align perfectly with Blueshift’s mission and we are happy to have them come aboard at this time of explosive growth.”

“Having worked in the APAC region for a number of years, I’m excited to be joining Blueshift as we push to enter the ever growing Asia Pacific market,” said Shanker.

“I’m thrilled to be joining Vijay and the rest of the team at Blueshift as we continue to grow and put our stamp on the global marketing automation landscape. I look forward to what’s ahead as we combine machine learning and artificial intelligence to bring ‘Rocket Science as a Service’ to a whole new range of B2C marketers,” said Bhatia.

Supporting this investment in Australia is a propitious market which presents opportunity for new entrants. In light of recent global market volatility which has heavily affected markets in the APAC region, asset owners are more than ever concerned to find the right managers for their own portfolio needs and secure value for money in their investments. Against the backdrop of a small number of incumbents, the continued expansion of the superannuation funds due to significant and growing employer contributions fuels demand for expert advice in managing new investment decisions.

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bfinance sets itself apart in this market by virtue of its unique approach. Rather than draw from pre-determined buy lists, the company examines all suitable managers with each fresh mandate, opening the search process to a wider selection of candidate managers which grants access to innovative strategies to unlock value for investors.

Fridge’s appointment and the expansion into Australia follow a strong period of successes worldwide for bfinance. Recent high-profile mandates include advising on a USD 1bn alternative beta strategy programme for a U.S. corporate pension plan, a USD 1.2bn private equity search for Swedish State pension fund AP7, and multiple searches across asset classes on behalf of Australian superannuation funds.

Pal Sarai, managing director at bfinance and head of client consulting, EMEA, Australia & Asia said: ‘We are delighted to welcome Fridge to the team as we respond to growing client demand in the Australian market. Fridge’s track record in launching international offices and initiating long term relationships with asset owners and investment managers will guide the team and help us continue our fast pace of growth as we see a significant opportunity in the local institutional investment market.

Fridge brings 10 years’ experience in delivering high quality financial software and data to asset owners, with an established record in building systems and teams from the ground up, from which I am confident both our clients and our firm will benefit.’

Commenting on his appointment Fridge van Zyp, Director, bfinance Australia, said: ‘It’s an exciting time to be joining bfinance and I look forward to working closely with Pal, Melda and my many new bfinance colleagues worldwide to expand our presence in Australia.

The local market is ripe for disruption - now more than ever, Australian asset owners must seek value for money when making investment decisions. They will stand to benefit from bfinance’s unique methodology and innovative approach.

With several client wins behind us, this is the beginning of a long term investment in Australia and I am eager to grow the team further in the near future.’

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APAC Insider Magazine / July 2016

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Growing Demand from APAC Predicted to Drive the Global Embedded Systems Market

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Technavio research analysts are forecasting positive growth for many segments of the global embedded systems market over the next four years as several related markets, including MEMS for mobile devices, carbon nanotubes, and embedded systems EMV cards, will likely witness an increase in revenues.

Technavio market research analysts predict the global MEMS market for mobile devices to grow at a CAGR of close to 10% during the forecast period.

Constantly changing technology in the mobile device segment requires integration of MEMS to support new applications and features, and it is a key driver for the market. Different kinds of MEMS provide different features to mobile devices, thereby increasing its demand in the overall MEMS market.

Key findings of this research indicate emerging economies such as China, India, Japan, Korea, and Taiwan will likely witness a further increase in the demand for mobile device components because of high concentration of device manufacturers supported by low labor cost in these regions. “Smartphones accounted for 87% of the market share in 2015. The growing demand for smartphones is driving the market for MEMS. Many low-priced smartphones are penetrating the market, thus increasing the demand for MEMS,� said Asif Gani, one of Technavio’s lead analysts for hardware and semiconductor research.

The use of carbon nanotubes is expected to gain significant traction in the global embedded systems market during the forecast period. It will be used in place of silicon and indium tin-coated films for the production of solar cells, liquid crystal displays, and organic light-emitting diodes. Due to its high market potential, investments in the R&D of carbon nanotubes will also rise significantly. This will likely lead to the widespread adoption of such tubes across various end-user industries. With this, the carbon nanotubes market will grow at a CAGR of around 20% over the next four years.

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Meanwhile, the rising adoption of electronic purses is anticipated to impel growth prospects for embedded systems EMV cards through 2020. An electronic purse is similar to an EMV card as it allows users to carry out monetary transactions just like a credit or debit card. These purses eliminate the need to carry cash and aid consumers in keeping their money safe.

Analysts at Technavio predict augmented adoption of electronic purses will spur the growth of embedded systems EMV cards and help this segment record a CAGR of around 17% over the next four years.

APAC accounted for 66% of the MEMS for mobile devices market share during 2015, and it will continue to dominate during the forecast period.

The carbon nanotubes market is highly fragmented due to the presence of multiple vendors. While a number of vendors are based in APAC, a few large vendors have their headquarters outside APAC. However, due to the low cost of labor in this region, many vendors have shifted their production facilities to APAC. In 2015, the APAC region also accounted for approximately 45% of the embedded systems EMV cards market, and it is envisaged to retain this growth momentum until 2020.

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APAC Insider Magazine / July 2016

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Hong Kong Boards Admit Failure On Managing Bribery In New Report

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More than a third (38%) admit their antibribery policy does not work and 26% of senior executives in Hong Kong say they do not conduct anti-bribery due diligence as part of M&A activity More than a third (38%) of board members in Hong Kong say their anti-bribery and corruption policies do not work effectively, according to a new international study from Eversheds. 92% of the Hong Kong executives involved in the research also confessed to uncovering corrupt business practices in their organisation, despite anti-bribery laws now being prevalent across the world, with an increased focus by prosecutors to bring charges.

Beneath the Surface engaged with 500 board-level executives in large organisations across 12 countries – including 50 in Hong Kong – to find out how businesses are responding to bribery and corruption in their organisation. The findings paint a contradictory picture, where those at the top of companies understand the seriousness of these issues – for both profits and reputation – but are failing to back it up with adequate compliance programmes to prevent, monitor and manage corrupt behaviours.

All of the respondents from Hong Kong said bribery and corruption were important issues for their business. But, just one in five of these board-level executives (20%) said they actually understood their anti-bribery policy, while only just 6% felt they have undertaken enough anti-bribery training. However, 78% believe their approach to managing bribery and corruption is appropriate for their business.

Despite a number of high-profile prosecutions, just 6% of board-level executives in Hong Kong see potential legal ramifications as the main reason why bribery and corruption issues are important to them, with a significant number instead saying the impact on their business is the most important consideration. Specifically, when asked why bribery and corruption were significant issues, 74% of respondents in Hong Kong identified the potential impact on commercial success, 14% identified the potential reputational damage and the remaining 6% identified the strong ethical culture at their organisation.

The findings also highlight an apparent clash between an organisation’s ethical intentions and its commercial objectives when it comes to addressing bribery and corruption, especially with all of the Hong Kong executives involved in the study saying their organisation plans to do more business with developing markets in the

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next five years. 86% said their anti-bribery policy made it more difficult to build their business, while a quarter (26%) admit their business does not conduct specific antibribery due diligence as part of M&A activity.

Leonie Tear, fraud specialist in the Eversheds’ Fraud and Investigations Group in Asia, said: “Ahead of this week’s government-led international anti-corruption summit in London – which seeks to galvanise a global response to tackle corruption – it’s clear that bribery remains a problem. Businesses do understand the seriousness of bribery and corruption and the potentially devastating impact of a public investigation on their bottom line and their reputation. This in itself represents significant progress.

Until recently bribes were viewed by many as just the price of working in certain jurisdictions and sectors, but companies increasingly see bribery and corruption as being bad for business.

“However, the fact that so few Hong Kong businesses see potential prosecution as the most important risk of bribery and corruption has profound implications for government’s anti-bribery strategies. Governments have typically tried to fight bribery by deterring companies with stringent penalties, but they need to work with the private sector to articulate the business case for anti-bribery.

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APAC Insider Magazine / July 2016

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“Now, the challenge for businesses in Hong Kong is to ensure their approach to antibribery and corruption is appropriate and commercially sensible. This means less reliance on policies and greater focus on creating the right culture and environment in which sound business practices can flourish. Boards need to take action in three areas – a thorough risk assessment, which is regularly reviewed; training that promotes discussion and shapes behaviours, and ongoing monitoring.

“If businesses can identify questionable practices in their organisation early, it can make the difference between facing a prosecution or not, so the incentive to get on the front foot is significant.”

Of the 92% of board members in Hong Kong who have identified bribery or corruption in their organisation, 63% took the decision to self-report to law enforcement agencies and 33% informed the regulator. However, there are substantive differences between jurisdictions. Almost three quarters (72%) of those respondents in China said they had informed law enforcement agencies, while 41% did the same in France and just 26% in Brazil. This could be explained by an apparent lack of knowledge regarding self-reporting regimes around the world. Two thirds (68%) of respondents in Hong Kong were familiar with self-reporting rules in jurisdictions outside of Hong Kong and China.

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Hong Kong executives revealed an overwhelming willingness to self-report, with almost all of those questioned (98%) stating they would self-report to law enforcement or regulators if they discovered bribery or corruption in their organisation tomorrow.

Leonie Tear concludes: “Incentives for self-reporting are becoming a more familiar feature of regulatory regimes, and a growing use of deferred prosecution arrangements, regulators and law enforcement agencies is encouraging a climate of greater transparency and openness. However, the pace of regulatory change makes it difficult for multinational businesses to understand how their position changes from country to country.

“Bribery and corruption are undoubtedly challenging issues for organisations to deal with, but they shouldn’t be holding businesses back. The reality is that corrupt business practices will always occur, particularly in high risk jurisdictions. What matters is the way an organisation responds and how prepared it is to effectively mitigate the risk it poses to their business.”

Overall findings – international results: • Why are bribery & corruption important issues to senior executives?

• 61% - impact on commercial success • 20% - potential damage to reputation • 10% - strong ethical culture at company • 9% - potential legal ramifications • 59% of senior executives say their anti-bribery policy does not work • 80% have identified bribery or corruption in their organisation • Of these, 51% took the decision to self-report to law enforcement agencies and 32% informed the regulator • Less than a third (32%) said they understood their anti-bribery policy • 12% felt they have undertaken enough training in this area • Just 45% believe their approach to managing bribery and corruption is appropriate for their business • 87% of senior executives said their anti-bribery policy made it more difficult to build their business • 19% are worried employees would resort to bribery or corruption when faced with challenging growth targets • 99% would self-report to law enforcement or regulators if they discovered bribery or corruption in their organisation tomorrow

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APAC Insider Magazine / July 2016

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Dulas And Sunintown Partner For Indian Cold Chain Supply

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Pioneering cold chain business joins with Indian solar company for solar refrigeration deployment as India moves to develop domestic vaccine programme in 2017.

Leading UK renewable energy firm and solar refrigeration pioneer, Dulas, has announced that it has launched a joint venture with Indian solar company, Sunintown, to supply its solar powered refrigerators across the Indian Subcontinent.

The agreement will see Sunintown utilise its size and scale as a solar developer to provide market access for Dulas to deploy its solar powered refrigerators.

Sunintown will also act as a consultant on the ground to ensure that supporting infrastructure is established before any cold chain logistics are put in place.

As India transitions away from current global vaccine alliance (GAVI) support in 2017, with the aim of self-funding its own domestic vaccination programme by 2021, there is an urgent need for cold chain storage solutions for medicines and antibiotics across the continent. According to figures from GAVI, India still sees an infant mortality rate of 38/1000.

GAVI’s Global Vaccine Action Plan, launched in 2011, is aiming to provide 90% vaccine coverage in territories where vaccination needs are currently unmet by 2020. The organisation’s ‘Decade of Vaccines’ scheme will seek not only to increase funding for immunization programmes, but also encourage new methods of resource mobilisation and partnership.

Having pioneered solar powered fridges over 30 years ago, Dulas products enable vaccines, blood and pharmaceuticals to be safely stored in remote, off-grid locations, supporting health and vaccination programmes throughout the developing world. Dulas solar-powered vaccine refrigerators are available in a range of battery, direct drive, and ice-lined models, providing a versatile cold chain storage option for medical centres and vaccination programmes.

In addition to supplying its refrigerators to the Indian market, Dulas and Sunintown will also provide training, installation and maintenance to support their use.

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“We see partnering with Sunintown as the next step towards fully supporting India’s independent vaccination programme over the next decade,” said Guy Watson, Head of International Operations, Dulas.

“With the demand for cold chain storage and logistics likely to soar over the coming years throughout India, we see Dulas as playing a key role in assisting the country meet its vaccination targets.”

“Working with Sunintown - a respected and well-established domestic firm will mean that we have a local partner not only to work with us in the supply of our refrigerators, but also to ensure that the conditions are right on the ground.”

Sheshnag Chitlur, Business Development Manager, Sunintown, commented: “With the move in India to rapidly increase the use of solar technology, coupled with the rising demand for vaccines, there is a market need for energy independent quality cold chain equipment.”

“Dulas has a thirty-year track record supplying solar powered refrigerators for vaccine programmes worldwide, and we look forward to becoming a key partner in the Indian market.”

Dulas and Sunintown expect to deploy the first solar powered refrigerators under the agreement in June 2016. The joint venture will eventually aim to supply 10% of the Indian solar cold chain market.

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APAC Insider Magazine / July 2016

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The Institute of Risk Management (IRM)

The Institute of Risk Management (IRM) asks its members what working in risk is really like and what hints and tips they’d share with people looking to move into the industry.

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Saman Bandara, IRM Technical Specialist Partner, Head of Forensic Consulting and Insurance Practice EY Vietnam, Cambodia and Laos

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How did you get your job?

My situation may be quite different from other risk managers. Initially, I became an auditor after becoming a Chartered Accountant in Sri Lanka, and moved back to Vietnam as an audit manager to a big 4 firm.

Thereafter, I moved to Singapore where I was totally focusing on the audit of insurance companies, and started to hear more about risk management than I used to do in the past. More and more I learnt about the insurance business which is in itself managing the risk of others.

I also started hearing more about fraud risk and management of fraud risk, and I developed an interest in this area. I started studying forensic accounting and ended up being certified in fraud investigations, and moved to Vietnam again to start the insurance practice for EY in Vietnam.

While providing professional services to the insurance companies, I realised that insurance are managing the risk of others, but they are not very good at managing their own risk, as a result, I started thinking of developing a risk management practice. However, in addition to the fraud risk management where I was

already an expert, I did not have a full comprehension about the other aspect of risk management concepts.

Then I started looking around for formal qualifications, and fortunately, found the IRM and its relevant courses. With a lot enthusiasm I completed the IRM’s Certificate in Risk Management in Financial Services and that gave me the necessary information/ tools to develop my risk management skills.

What’s a typical day like as a Head of Forensic Consulting and Insurance Practice?

As a partner in EY’s risk management practice, my daily activities are presenting to clients on project deliverables, conducting seminars and presentations.

Also, designing service offerings to promote risk management consulting, writing articles for industry magazines and public speaking on risk management.

What do you enjoy most about your job?

This is an area which companies cannot afford to ignore, and risk managers are one of the most critical people for a successful business. Working with risk management folks, educating them as well as being educated daily with the interaction with them brings me the most happiness.

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What are the challenges?

The main challenge I face as a consultant is being able to persuade our prospective clients on the importance of risk management since risk management awareness in countries like Vietnam is at a very minimal level.

Secondly, finding the right people with the risk awareness to my team has also been a challenge though it has been better in the recent years.

In what way are your IRM qualifications relevant?

IRM qualifications provide the necessary education step by step so that anyone interested in risk is able to develop a very strong understanding with proper commitments. I do not mean to say that IRM exams are easy; they are very difficult, but carefully designed programs to provide the necessary information and education for one to be able to be an effective risk manager.

What would you say to others thinking about joining IRM as a member?

If one wants to be a risk manager, this is the gold standard and I strongly recommend IRM membership and qualifications.

How has your role developed and what are your career ambitions? Has being linked to the IRM helped?

Being a partner in the risk management consulting of EY where I switched myself to a consulting role from being an auditor for long time, IRM has given me the necessary education for me to be successful in my risk career.

Top tips Be ready spend time looking for the right qualification; IRM is the best choice as far as I am concerned although there are many certifications available out there.

Also have determination to complete the examinations and obtain practical work experience.

Find out more about the Institute of Risk Management and our Training, Membership and Qualifications.

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APAC Insider Magazine / July 2016

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Office Space In Town Secures Backing From Top Chinese Real Estate Investment Managers Kailong For Its £160 Million London Serviced Office Joint Ventures

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Highlights global appeal of London serviced office market as it has delivered consistently strong returns.

Office Space in Town (OSiT), one of the UK’s leading serviced office providers, has announced that Kailong, a leading Chinese real estate asset manager, has invested in the firm’s two London serviced office joint ventures, which have a combined value of £160 million.

Kailong is taking a majority stake in in OSiT’s first joint venture, LSOI, replacing global real estate investors, Forum Partners, which initially backed the serviced office vehicle alongside OSiT. The Shanghai-based firm is also taking a majority stake in OSiT’s second joint venture, LSO II, in which Forum Partners remains an active partner and shareholder.

Securing the backing of an international real estate investor of the stature of Kailong significantly boosts LSO II’s investment capability as it seeks new opportunities in the Central London office market, which has delivered consistently strong returns over the past few years.

The two serviced office joint ventures target Central London commercial office space in the City fringes, West End and Midtown and the strategy is to secure properties in excess of 25,000 sq. feet and within a four-minute radius of tube or rail links.

The first serviced office joint venture, launched in 2012, currently consists of three high-spec serviced offices in Liverpool Street, St Paul’s and Waterloo.

The second joint venture, was launched in August 2014, which currently has 20 St Dunstan’s Hill, a prime building in the heart of the city, and adjacent to the iconic Monument landmark, as its key asset.

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The St Dunstan’s office is OSiT’s most recent addition to its growing portfolio of boutique serviced offices. Designed in consultation with iconic luxury yacht brand, Sunseeker, the building provides a sleek, nautical interior, complete with serviced bedrooms, in-house treatment rooms and a rooftop terrace café with exceptional views of the City, the Shard and Tower Bridge.

Following the strong growth of serviced offices globally, the sector has rapidly emerged as a very attractive subsector within the commercial real estate market and a sought-after opportunity for institutional investors, which are now beginning to regard the serviced office sector as an asset class in its own right.

Though the market’s growth has been impressive across Europe and the US, it is the UK that is leading the way, with a comparatively mature market accounting for 36% of serviced offices globally. The changing face of business, the need for cost efficient flexibility and scalability and the rising numbers of small to medium sized enterprises searching for workspace that is adaptable and does not involve long leases, has helped fueled this high demand for serviced offices.

Also London continues to be the pre-eminent city for serviced offices, though in regional cities such Manchester, Bristol, Glasgow and Edinburgh the sector is growing fast too. The Capital’s serviced office market, which accounts for 30% of the UK market, has grown exponentially in recent years, experiencing a 67% increase in floor space dedicated to serviced offices between 2004 and 2015.

Giles Fuchs, Co-founder and CEO of Office Space in Town, commented: “To attract a global real estate investor of the calibre of Kailong is strong endorsement for the strategy and performance of our two serviced office joint ventures. To date, both have generated significant value and returns and the commitment of Kailong and also Forum Partners illustrates serviced offices’ emergence as a separate asset class offering attractive returns for institutional investors.”

Don Tan, Vice President Fund Management of KaiLong, commented: “With its vast experience in this sector, Office Space in Town is the perfect partner for us as we expand into the UK. Serviced offices are a very attractive new asset class, underpinned by strong growth drivers in both the UK market and globally and we believe offer excellent investment opportunities.

We look forward to working with our new partners to identify further quality assets to enhance the current portfolio and maximise returns.”

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Fund Management Experts in Asia and Africa WINNER Asian Fund of Hedge Funds 2014

21/F Chuang’s Tower, 30-32 Connaught Road Central, Hong Kong Tel: +852 2253 6296 www.skyboundcapital.com