austcham news Issue 175 by The Australian Chamber of Commerce in Hong Kong

EDUCATION EDITION The Australian Chamber of Commerce Hong Kong and Macau 香港及澳門澳洲商會

ISSUE 175, 2015

Booming Market for International Students Set For Rapid Increase in Australia P.8

Hong Kong Focus: The New Colombo Plan: Making study in Asia a rite of passage for Australian undergraduates

P.12

AustCham Committees Introducing the Chambers’ dynamic committee system

Industry Insights Does good governance lead to better performance? – P.26

www.austcham.com.hk

Contents

austcham news issue 175 03 Chamber Chatter Published By: The Australian Chamber of Commerce in Hong Kong and Macau Room 301-302, 3/F, Lucky Building 39 Wellington Street, Central, Hong Kong Tel: +852 2522 5054 Email: austcham@austcham.com.hk

05 Membership eCard 06 Cover Story Booming Market for International Students Set for Rapid Increase in Australia

08 Hong Kong Focus

10 Australia Focus

The New Colombo Plan: Making study in Asia a rite of passage for Australian undergraduates

Australian education in demand – How a new market strategy is repositioning education to meet global skills needs

12 AustCham Committees 27 Educational Service Feature

28 Small Business Corner

29 Events Update 25 Aug - Women in Business Network Summer Drinks 4 Sep - Tasmania Investment and Trade Luncheon 11 Sep - How competitive is HK in the global mobility scene?

30 Corporate Profile Crown Worldwide Group

The Australian Chamber of Commerce in Hong Kong and Macau has more than 1,500 members from some 500 companies doing business here. It’s the largest Australian business grouping outside the country and the second largest of 28 International Chambers of Commerce in Hong Kong. The AustCham mission is: To promote & represent Australian business & values while enabling members to connect, engage & grow bilateral relationships. Disclaimer:

31 On The Scene

Advertising: Karen Wu Email: karen.wu@austcham.com.hk

CONNEC T • ENGAGE • REPRESENT

26 Industry Insights

Editorial Committee: Drew Waters Karen Wu Claire Reaburn

austcham news Online version

The views expressed in this publication are not necessarily those of the Australian Chamber of Commerce in Hong Kong and Macau, its members or officers. The Australian Chamber of Commerce in Hong Kong and Macau takes no responsibility for the contents of any article or advertisement, makes no representation as to its accuracy or completeness, and expressly disclaims and liability for any loss however arising from or in reliance upon the whole or any part of this publication. Copyright © 2015 The Australian Chamber of Commerce in Hong Kong and Macau

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Chamber Chatter

Chairman's Column Education is the focus of this month’s AustCham News. The prosperity of any economy depends on the effectiveness and productivity of its workforce. Australia is no exception. In a world in which more and more countries have the basic levels of infrastructure to compete globally, technology is available on international markets, knowledge and information flow more freely than ever before, and multinational companies can divide up their activities into finer and finer pieces and place each piece in its optimal location, a nation’s workforce is perhaps more critical to its competitiveness than ever before. As an advanced economy with a high standard of living and high aspirations, Australia has to continue to move ahead in terms of workforce development, or it will fall behind. How far Australia can go will be determined in large part by the skills and capabilities of its workforce. Workforce development is influenced heavily by the education and training system in a nation, including all levels of the traditional education system, vocational training, and company-based training programs, as well as the ability of the nation to provide opportunities for life-long learning. International rankings tend to rank Australia highly in terms of education, training, attitudes, and a variety of features related to the quality of the workforce. Leading Australian companies leverage home-grown talent to compete internationally. Many Australian inventors, inventions, and innovations also highlight the potential of Australia’s talent pool and its competitiveness globally in the development of human capital. However, there are a number of issues with respect to the workforce in Australia that indicate there are gaps or disadvantages to overcome. Skills Gap: skills shortages are seen in many fields in Australia, with shortages in science and mathematics viewed as particularly acute. The Business Council of Australia has observed that shortages in skilled labour will continue for a number of years and it has argued that a lack of skilled workers is a significant challenge to improving national prosperity. Growth is needed in vocational and tertiary education to address the present skills gap, and this needs to be combined with other measures such as improving job-readiness and improving workforce participation among older citizens to combat the effect of an ageing population. Job-Readiness: the job-readiness of school-leavers and university graduates also is an issue, with Australian employers claiming that they have difficulty recruiting employees with appropriate levels of soft skills and with surveys of employers suggesting that the core job-relevant skill levels of university graduates need to improve. Overall, it appears that the growth in job opportunities in Australia is not being matched by the skills of underemployed or unemployed workers. As a result, Australia is increasingly facing the problem of a lack of effective workers rather than a lack of jobs. Gaps in Private Sector Training: a report commissioned by the Australian Government’s Department of Innovation, Industry, Science and Research found that many Australian enterprises need to improve their ability to attract, develop, and retain talent, and need to find innovative and practical ways to develop their workforce so as to improve their performance. Many Australian companies, particularly in the services industry, provide in-house training, though the informal nature of such training makes it hard to measure the investment being made. Major reviews of education have been carried out in Australia, two notable ones being the Review of Funding for Schooling in 2011 and the Bradley Review of Australian Higher Education in 2008. In addition, programs have been set up so foreign applicants for permanent residency in Australia can demonstrate job readiness in nominated occupations. The Council of Australian Governments (COAG) in 2006 called for an increase in the proportion of adult workers who have the skills and qualifications needed to enjoy active and productive working lives, but the goals have yet to find their way into policy. For the policies, programs, and reviews to be effective they must turn into action, be sufficiently resourced, and be properly promoted. It is not clear that this is happening. To many, the education revolution promised by the (then) Australian Government in 2008, and for which AUD 10 billon was then budgeted, has yet to materialise. Many AustCham members operate in the education sector. They are making a difference, but for change to be big and lasting there needs to be a compact between government, universities and vocational and professional training entities, and business on what is needed to make Australia competitive and how it will be funded longterm. If this is not achieved in Australia then there is a very real risk that Australia’s well-deserved reputation as a provider of world-class education slips and that Australia is in the future seen as second best against a range of alternatives in Asia. I hope that you will connect with the Chamber this month in some way, and that you will continue to share your views on how best the Chamber can serve you. Richard Petty chairman@austcham.com.hk issue 175 | austcham news

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Chamber Chatter

Across My Desk

ne of the most prominent services Australia has exported around the world is Education and no less so in Hong Kong. Australian schools and Universities are well represented here, at primary, secondary, graduate and postgraduate level, offering a wide range of curricula and graduate opportunities. More recently, the Federal Government has made the New Colombo Plan a priority, utilising Hong Kong as a pilot prior to rolling out across the region, and fulfilling the desires of Universities in both countries to provide not only study, but undergraduate and postgraduate internships and mentoring opportunities for Hong Kong and Australian students. Australia has increased its capacity to provide boarding facilities within its world leading educational institutes, attracting pupils from across Asia to the benefits of the well-rounded educational, sporting and community involvement programmes offered by these establishments. At our recent Australia-China Business Awards, The University of Wollongong was the recipient of the prestigious Business Excellence Award for Education and Training, recognising their significant contribution to higher education in both countries, and their collaboration with leading universities, research organisations and industry bodies in Greater China. If the secretariat is the arms and legs of the Chamber, our strong committee structure is the heart. It’s our committees that provide our membership with informed, timely, and focused knowledge from industry experts on the ground, which we can easily convert into highly informative events, forums and gatherings. Some, like the Construction, Property and Infrastructure Committee or the Finance, Legal and Tax Committee have been well

established within the Chamber, and others like our Small Business Network, the Women in Business Network or our Macau Chapter are newly formed. The enthusiasm and drive found within these committees continues to push the Chamber forward, and provides an excellent transfer of information from one end of the membership to the other. Although committee activity can make some additional demands on members' time, this extra level of membership commitment provides a terrific vehicle for promoting the Chamber, their organisations, or their personal agenda within the Hong Kong Australian community. The committees have a voice within that community and beyond through the thoughtful advocacy of the Chamber, in the preparation of white papers, community consultations and support. I encourage you to engage with your committees at whatever level you can, as I see them as the engine room of this strong Chamber. I am certain you will find a place at the table within AustCham’s Sustainable Development Committee, Construction, Property, and Infrastructure Committee, Finance Legal, and Tax Committee, Peoples Forum, Young Executives, Macau Chapter, Women in Business Network, Small Business Network, or Business Technology Committee. I’d like to take this opportunity to personally thank the Chairs, Co-Chairs, Vice Chairs, active committee participants, and committee sponsors for their input over the past year, and a special thankyou to our own Caness Chan for her tireless support of the committees from within the secretariat. All those in favour ….? Drew Waters Chief Executive

Mooncake Charity Sale is ON!

Community Corner

AustCham NGO Member Kely Support Group (KELY) has been a long term partner with the Peninsula Merchandising Ltd since 2008 to host an annual mooncake sale every autumn in effort to help young people in Hong Kong reach their potential. With 45% of all newly reported drug users aged 25 and under, young drug abuse remains a dire issue in Hong Kong. While 55% first fell into abuse to

identify with peers, 48% turned to drugs to address depression, stress or anxiety. A staggering 82% take drugs in hidden places, socially disengaged, avoiding authorities. KELY Support Group is a non-government funded charity which provides non-judgmental and inclusive peer support to help young people make responsible choices concerning drug and alcohol. To find out how you can support or more about the Charity Sale, please visit http://kely.org/en/mooncake-charity-sale.html or call 2521 6890.

AustCham is a non-profit organisation and provides this space free of charge to other, selected non-profits or charities.

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Australians Looking for Leadership on Climate Change This year's United Nations Climate Change Conference in Paris is drawing closer and Australians are looking for leadership, vision and targets to ensure the nation is well placed to compete and prosper in a low carbon future. A recent annual poll by the Lowy Institute, an independent policy think tank, recorded the third consecutive rise in Australians’ concern about global warming. Now half of Australia’s adult population believe global warming is a serious and pressing problem. And many on the progressive side of politics believe the Abbott Government is not doing enough. Prime Minister Abbott has continuously expressed his distaste for renewables. And in so doing, he is putting thousands of Australian jobs and billions of dollars in investment at risk. Since the Abbott Government was elected, investment in renewables in Australia has fallen by 88 per cent. When the Opposition was last in power, Australia was ranked fourth in Ernst & Young’s Renewable Energy Country Attractiveness Index. Under the Abbott Government, Australia has continued to slip and Australia now just makes the top 10 in the world. In stark contrast, renewable energy is a centrepiece of the Opposition's response to the challenge of climate change.

AustCham ard Membership eC

July

Thank you!

A big thank you to Platinum Patron Flight Centre for offering AustCham members a HK$500 discount on any holiday package. *Terms and conditions apply.

The Opposition wants to see 50 percent of Australia's electricity generated by renewable energy by 2030 so Australia can get its fair share of the $2.5 trillion of investment expected in this sector in the Asia-Pacific. Most other major countries have ambitious renewable energy targets – and they are meeting them. And many nations, including the United States and China, have already unveiled their post-2020 commitments for Paris. Australians are still waiting for the Abbott Government to confirm our nation's post-2020 emissions reduction target. The Opposition will continue to campaign for an ambitious approach to climate change and show leadership and vision on the issue. Because the Opposition realises that Australia's future prosperity depends on the nation being a front runner in renewable energy investment, lowering power prices, reducing pollution and creating jobs to add to the 20,000 who currently work in the sector. Gai Brodtmann MP, Federal Member for Canberra and Co-Convenor of Parliamentary Hong Kong Friendship Group

In August, Rhombus International Hotels Group has offered AustCham

members a 20% discount on dining in AVA Restaurant Slash Bar (Hotel Panorama), Azure Restaurant Slash Bar (Hotel LKF) and Café Express (Hotel Panorama). An extended offer of 15% off discount on dining in the above restaurants between 1 September to 31 December 2015.

*Terms and conditions apply. *Offers are not applicable on Christmas Day and Eve, New Year’s Eve, and fireworks display nights.

issue 175 | austcham news

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Cover Story

Booming Market for International Students Set For Rapid Increase in Australia - By Michael Wray, a former News Ltd journalist now based in Australia.

6 â&#x20AC;˘ austcham news | issue 175

he Australian Government is hoping to nearly double the nation’s booming education export market before the end of the decade to cash in on growing demand from Asian students. The new focus on attracting international students to Australia is part of a wider strategy to fortify the economy against the end of the mining boom by expanding service sector exports. Education exports reached a record $16.6 billion in 2014, making it the nation’s fourth most valuable export behind iron ore, coal and natural gas. The previous high was recorded in 2009 when international students pumped $16.1 billion into the local economy. However, the sector was then buffeted by a phalanx of problems including a high Australian dollar, complex and expensive visa arrangements, violence against Indian students, unscrupulous service providers and increased competition from overseas. But those problems have largely dissipated. The Australian dollar has dropped more than 20 per cent in the past few years, making studying in Australia a much more attractive option for overseas students. The government has also rolled out fast-track visa arrangements to help the sector bounce back. Prime Minister Tony Abbott is hoping the sector will be worth $30 billion a year before the end of the decade. To help this happen, the government is currently preparing a new national strategy for international education. It has just concluded a period of public consultation on the draft and hopes to release the final strategy before the end of the year. One of the key outcomes is expected to be an effort to end the lack of co-ordination between the various ministries with responsibility for the sector: education, trade, foreign affairs and immigration. The public draft of the strategy paper lists the government’s main goals as: • Creating a world-class educational system • Building on strong and emerging international partnerships • Fostering an international outlook • Attracting international talent • Improving the experience of students in Australia • Expanding the provision of Australian education and training overseas. Education Minister Christopher Pyne said the overall aim was to make Australia an even more popular destination for students around the world who were looking to attend university in a foreign country. “We cannot lose sight of intensifying competition from the world’s leading economies and emerging competition from universities and education hubs closer to home,” Pyne said. “Australia needs to meet this competition head on, with a relentless focus on quality in teaching, learning and research, to avoid being left behind.” Australia hosted 590,000 overseas students in high schools, vocational and tertiary institutions in 2014 according to government figures.

Australia needs to meet this competition head on, with a relentless focus on quality in teaching, learning and research, to avoid being left behind. - Education Minister Christopher Pyne Numbers were up 12.3 per cent on the previous year however still remained 6.3 per cent below the peak of 2009. China remained by far the biggest source of overseas students, accounting for about a quarter of all international students. India, Vietnam, South Korea and Malaysia were the next largest source countries of students. Enrolments from Hong Kong in 2014 were up 22 per cent compared with 2013. The government estimates the sector accounts for about 130,000 jobs nationally. Trade Minister Andrew Robb told The Australian: “The economic benefits the sector generates speak for themselves, but the people-topeople linkages and opportunities these produce are not well understood.” A report from HSBC bank said services exports such as education would start to play a bigger role in the economy, following the plunge in iron ore prices. Services account for 18 per cent of all exports, and include education, tourism and business services. They were worth $59 billion in 2014, marginally behind iron ore’s $66 billion. “Services exports are a generally under-appreciated part of Australia’s export basket,” HSBC chief economist Paul Bloxham said in the report. “The ongoing rise in Asian middle class incomes... is making studying in Australia more affordable for a larger group of students,” the report said. However the rush to expand the sector quickly does come with problems. The Productivity Commission warned the rapid growth and increasing dependence on international students was creating governance problems and issues with visa integrity. Phil Honeywood, the executive director of the International Education Association of Australia, told The Australian the most recent figures pointed to much-improved visa processing, but may have been buoyed by a massive spike in students enrolling from India as unscrupulous agents falsely promised permanent residency as part of post-study work rights. “There is a ticking time bomb on post-study work rights visas, which are being seen as the route to a fast track to migration,” he said. “Numbers out of India have doubled in the past 12 months. They are not rorting the system, but have the perception post-study work rights will lead to permanent residency, and that is totally wrong.” issue 175 | austcham news

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CoverKong Hong StoryFocus

The New Colombo Plan: Making study in Asia a rite of passage for Australian undergraduates “Overall, my experience in Hong Kong has been amazing to say the least. Professionally, I have accrued industry-relevant experience and learnt much about the engineering field to help me with my career. Personally, I have matured as an individual and now possess a greater understanding of my strengths and weaknesses.” - New Colombo Plan Scholar, Hong Kong. 32 locations across the region. Hong Kong remains popular, particularly among scholarship applicants. Around 70 students are currently studying, or will study, in Hong Kong under the 2015 round, including nine scholarship recipients. Consul-General Mr Paul Tighe appreciates the support of the Australian business community in Hong Kong for the program, notably in supporting work placements. “Australia has substantial interests in Hong Kong and the broader China region. Groups like AustCham, CPA Australia and Engineers Australia have welcomed students into business networks in Hong Kong, as have a number of individual Australian companies. This has given the students Her Excellency Ambassador Frances Adamson, speaking to a group of New Colombo Plan students in Hong Kong.

ong Kong is an appealing destination for Australian students wishing to study and work in the Indo-Pacific region, especially those given a unique opportunity under the New Colombo Plan (NCP). Hong Kong’s world-class education institutions, rich cultural diversity and status as a gateway to business in China made it a popular choice for students among the four NCP pilot locations in 2014. Feedback from the first Hong Kong scholars was overwhelmingly positive. Under its signature initiative NCP program, the Australian Government is supporting Australian undergraduates to undertake scholarships and internships in the region. Australian Foreign Minister Julie Bishop recently explained the NCP: “Over time there will be an alumni of ambassadors with a deeper understanding of our region amongst whom will be the future community, business and political leaders of our country.” During the 2014 pilot phase, 12 scholarships and 21 mobility projects (shorter study programs for groups of students) were funded for programs in Hong Kong across a range of disciplines. In 2015 the NCP expanded to support more than 3,000 students in

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New Colombo Plan scholars on campus at the Chinese University of Hong Kong with Parliamentary Secretary to the Minister for Foreign Affairs, the Hon Steven Ciobo MP. New Colombo Plan scholar Emily Chen joined AustCham Mix at Six during her stay in Hong Kong.

insight into the global business contexts of their academic pursuits. We hope they will be able to build on these connections beyond their stay in Hong Kong.” On 24 July, Foreign Minister Julie Bishop formally launched three NCP initiatives to support private-sector engagement with the program and to drive opportunities for young Australians to undertake work placements in the Indo-Pacific. The New Colombo Plan Internship and Mentorship Network is a secure online portal for businesses to register work opportunities for NCP students. Around 100 internship and mentorship opportunities from businesses have already been listed. The Mobility Partners Program will foster innovative partnerships between Australian universities and businesses based in Australia and in host countries to create new opportunities for students. NCP Business Champions will help to promote the value of overseas study to students’ career prospects and foster business engagement in the program. Hong Kong-based David Fried, QBE Emerging Markets Chief Executive, is an inaugural NCP Business Champion.

AustCham has also been a supportive partner in Hong Kong, welcoming NCP students to its regular networking events, connecting them to AustCham Young Executives and itself offering a business internship under the program. We encourage you, as members of AustCham and business leaders in Hong Kong, to continue to engage with Australian institutions and students as they embark on their NCP journey. Source: Australian Consulate-General, Hong Kong

Businesses and other organisations can register their interest in providing internships and mentorships to NCP students by visiting the NCP Internship and Mentorship Website (ncpbusiness.dfat.gov.au) Further information on opportunities for business engagement is available at http://dfat.gov.au/people-to-people/new-colombo-plan/ business or through the Australian Consulate-General.

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issue 175 | austcham news

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Cover Story Australia Focus

Australian education in demand – How a new market strategy is repositioning education to meet global skills needs

ustralia’s education sector enjoys a unique reputation across the world. Consistently recognised in global rankings, highly respected by international employers and well regarded by alumni and parents, it is a sector with broad appeal, particularly across the Asia-Pacific region. Australia has a rich history of education engagement which continues to bring major benefits to both business and cultural links.

In relation to the first goal, there is no doubt that international education will continue to grow. Global demand for education is expanding rapidly, particularly across Asia where income growth and industry expansion are fuelling the need for skilled workers. And in support, Austrade Hong Kong will be working with institutions to hold a stand-alone Australian government education exhibition – the first one in Hong Kong since 2009.

While many of the benefits of the international education sector are measured in terms of exports and numbers of enrolments, this is only one side of the story. It is true that international education exports have risen to their highest level – more than $17 billion in 2014 and a great success story of Australia’s services sector – but this does not fully take into account the broad range of education services delivered offshore and online.

But the second goal is a bit less clear. The Minister for Trade and Investment, Andrew Robb, has highlighted the size of the opportunity – “But the potential exists to be teaching up to 10 million students within the region within 10 years if we adopt a wide range of different models across higher education, vocational education and training and secondary levels, most requiring some form of presence in the various markets.” 1

The traditional measure of exports and enrolments provides detailed information on the state of onshore enrolments – the number of students travelling to Australia on a student visa to attend school, English language training, university or a vocational program. But it stops short of recognising the number of young people and students who are exposed to and influenced by engaging with Australian educational offerings, either as visitors, in their own country or through new modes of delivery via online platforms.

For Australian institutions 10 million is a large number, and hard to contextualise. The challenge is not to teach 10 million, but to reach them through a range of education services, curriculum development and education platforms as well as the traditional qualifications. But the skills demand in Asia is large – India alone has set a target of training up to 500 million people by 2022.

In recognition of this, and to complement the government’s development of a national strategy for international education, Austrade has begun to prepare a long-term market plan – Australian International Education (AIE) 2025. AIE 2025 aims to maximise the sector’s contribution to the Australian economy, society and international standing and explores two ambitious challenges for the sector over the next ten years: - Can Australia move towards doubling the number of international students and visitors learning and training in Australia? - Can Australia increase the number of people overseas who are learning and training via Australian-developed courses or content? These are deliberately ambitious goals. They challenge the current concept of international education and training in Australia, while at the same time reflect the potential of the sector to make an even stronger contribution to Australia’s future economic prosperity. Already, workshops have been held in Australia with more than 800 people from across the international education sector taking part. 1

In Hong Kong, the education relationship with Australia is wellestablished. But it continues to grow. In recent years Australian companies have started developing digital content for local school curriculum, education services to support student learning, as well as accreditation and mutual recognition arrangements between industry bodies and institutions in both countries. Not to mention the 70,000 to 80,000 students who will take part in education and learning programs with the koalas and wallabies at Ocean Park each year. Often we take the capability and expertise of our education sector for granted, but students and teachers here are still surprised that Australia invented so many technological breakthroughs– Wi-Fi, the black box, bionic ear, google maps – many of which we now take for granted. As global demand for skills increases, we need to ensure that the expertise and capabilities of Australia’s education sector are well known across the region. For further information on Austrade’s education services please see www.austrade.gov.au/education or contact Taliessin Reaburn, Trade Commissioner, Hong Kong and Macau.

Formidable challenges as we work to accommodate Asia’s growth, The Australian, 25 March 2015, http://www.andrewrobb.com.au/Portfolio/PortfolioMediaReleases/tabid/71/ articleType/ArticleView/articleId/1818/Andrew-Robb-Op-Ed-Formidable-challenges-as-we-work-to-accommodate-Asias-growth-.aspx

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Building, Being, Becoming Located in Kowloon Tong, Australian International School Hong Kong (AISHK) is a leading Reception to Year 12 international school with a reputation for outstanding academic performance. AISHK is the only school in Hong Kong to provide an Australian curriculum run according to the Southern Hemisphere calendar. Our mission is to provide a world-class international environment where students, through active participation, achieve their personal best and graduate as skilled, influential and responsible international citizens.

AUSTRALIAN INTERNATIONAL SCHOOL HONG KONG

www.aishk.edu.hk

3A NORFOLK ROAD, KOWLOON TONG, HONG KONG

AustCham Committees

ustCham maintains an active volunteer committee structure which provides members with additional access to senior government and business decision makers, industry sharing and briefing events, the opportunity to shape the public ‘voice’ of the Chamber on Australian business issues, and develop sector-specific events and activities.

The Business Technology (BizTech) Committee is one of the longest running AustCham Hong Kong and Macau Committees. The current committee is comprised of a diverse mix of senior executives from Corporate firms, global consultancy firm country leads and energetic high-tech entrepreneurs. Prominent Hong Kong corporate members include CLP, PCCW, FIS Global and Leighton Asia.

Committee Mangement Chairman: Peter Smith has held the role for the past 5+ years. Peter is the MD of two recently established startup companies focussed on the mobility sector: Wavelength Consulting and Velocity Mobile. Peter was previously the CIO and head of Business Operations at Hong Kong CSL.

Vice-Chair: David Fergusson, MD of FIS Global, a leading global provider of banking and payments technologies.

Vice-Chair: Craig Price, SVP of International Projects at PCCW.

Engagement and Mission

L OOKING AHEAD

The Business Technology Committee is an active advocate in driving the adoption of Innovation and Technology within Hong Kong, and raising the profile of Australia’s High-Tech industries within the region. The BizTech Committee is also active in providing AustCham members with insight as to how Innovation and Technology can add value to their businesses through organising impactful events, typically on a quarterly basis. In addition, engaging and discerning dialogue on technology matters is a common feature of our monthly early morning committee gatherings, to the benefit of all in attendance.

The BizTech Committee is actively engaged in working with the Hong Kong international community and key local stakeholders on the planning and execution required to establish Hong Kong as the “Innovation and Technology Hub of APAC”. We are playing a dynamic role in setting the agenda for the new Innovation and Technology Bureau and lobbying the Government to make the establishment of a data centre hub in Hong Kong as a key strategic planning objective.

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We have a number of exciting Innovation events planned over the coming 12 months, working in close collaboration with other leading Hong Kong International Chambers Technology Committees in helping to shape the vision on how Hong Kong can become a world leading creative city.

The Construction, Property and Infrastructure (CPI) Committee is another long-running AustCham Hong Kong and Macau Committee. The current committee is comprised of a diverse mix of senior executives from local, Australian and international firms as well as government bodies. Active members include Advisian, Arcadis, Aurecon, Austrade, Chun Wo, CBRE, Hyder Consulting, KPMG, Leighton Asia, Merx, pmdl, PwC, Spring, and the Queensland Government.

Committee Mangement Chairman: Paul Scott, Head of Office and Programme and Project Management, Arcadis

Vice-Chair: Paul Scroggie, Regional Director Hong Kong, Macau and PRC, Merx

Paul is an active member of CPI Committee since 2011 and taking over as Chairman in 2014. He is accountable for Business Unit performance covering clients, people, service and financial performance for Arcadis’ HK office.

Paul is an AustCham HK & Macau’s Board of Director. He is a trained architect with over 28 years experience in Hong Kong and Asia. He has successfully delivered some of the region’s most iconic projects, earning the respect of my industry peers and a string of prestigious industry awards.

Vice-Chair: Peter Weiley, Director, Project Advisory & Branch Manager Hong Kong, Advisian

Vice-Chair: Scott Smith, Infrastructure Leader - Hong Kong, Aurecon

Peter has worked in the construction industry for over 30 years, with more than 20 years in Hong Kong. He is experienced in all facets in the procurement and delivery of large and technically challenging projects.

Engagement and Mission The CPI Committee furthers the interests of AustCham members within the industries by providing forums where members can network and exchange views and information. Below are the missions of the committee: - Enhance the Chamber’s reputation, as well as that of the CPI Committee and its members. - Provide existing AustCham members with high service levels and stimulate increased membership of the Chamber from this community. - Provide committee members with access to people of influence such as government and business facilitators. - Provide members with a high level of understanding and a platform to influence the construction, property and infrastructure market. - Steer and support wider issues, such as Government Policy, China Entry, Procurement, PPP etc.

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Scott leads Aurecon's infrastructure business in Asia. Scott is recognised for his expertise in the design leadership and construction supervision of tunnelling and other major infrastructure projects across the Asia Pacific.

L OOKING AHEAD

The CPI Committee is actively engaged with key industry leaders on policy and project development updates. We have successfully held several functions with the Hong Kong Jockey Club, Construction Industry Council, Civil Engineering and Development Department, MTR, EKEO, Home Affairs Bureau, Architectural Services and other local stakeholders. ‘Dream of Perfection’ was one of our signature events last year that follows the history of one of the Australia’s greatest icons, the event was well attended by over 100 industry executives. We have many events planned for the upcoming year, including meeting with the Australian Shadow Minister for Infrastructure, a panel discussion on Women in CPI, meeting with MTR’s new CEO, InterCham CPI drinks, updates with West Kowloon Cultural District Authority, and meeting with Hong Kong International Airport regarding 3rd Runway development. We look forward to continuing the strong relationship with both the Australian and HKSAR governments, international business community, relevant industry councils and key stakeholders.

A home away from home

Since 1858, Melbourne Grammar School has been offering one of Australia’s best educations. Our proud tradition of academic excellence, our skilled teachers and our diverse co-curricular activities provide a supportive environment where young men grow into responsible, caring individuals, ready for their lives ahead. Boarding is an integral part of life at the School and is available to students from Year 7 to Year 12. Boys from around Australia and overseas join a diverse boarding community, located close to Melbourne’s CBD, public transport and acclaimed cultural and sporting venues. Dedicated tutors and a structured schedule assist our boarding students to achieve outstanding academic results; while a warm, home‑like atmosphere and a team of support staff help our students build relationships and gain confidence. For more information, contact the Admissions office on + 61 3 9865 7570 or email enrol@mgs.vic.edu.au

355 St Kilda Road, Melbourne, Australia

www.mgs.vic.edu.au

The Finance, Legal and Tax (FLT) Committee is a diverse interest group representing members of the Hong Kong and broader China financial and legal services sectors to discuss topical issues of interest to the Australian and Hong Kong business community.

Committee Mangement Chairman: Darren Bowdern, Partner, KPMG

Vice-Chair: Jane McBride, Partner, Deacons

Vice-Chair: Ross Smith, Director, Shenton Ltd

Darren is a tax partner in mergers and acquisitions in Asia for KPMG.

Jane heads up the Licensing, Compliance & Regulatory Team at Deacons, a core part of the firm’s award winning financial services practice.

Ross Smith is Director of Shenton Limited (ASIC AFS License No 342895) that provides income protection, life insurance and superannuation advice and SIV advice to migrants.

Engagement and Mission The Committee’s role covers a wide range of issues including financial, legal and fiscal developments in Hong Kong, China and elsewhere in Asia. A core focus of the Committee is advocacy, using the expertise and resources of its members to provide views on policy development. The Committee holds monthly meetings to discuss contemporary issues affecting businesses and enabling members to network.

- For member businesses a channel to raise exposure with, and to manage ‘lobbying’ Australian and Hong Kong Government financial and legal service regulators and government agencies in order to enhance the business and regulatory environment. - Forum for networking opportunities for members employed in the financial services industry.

As such the committee provides: - A discussion forum for pertinent issues that both are and/or will impact Australian-related companies doing business in Hong Kong and China, and as expatriate Australians living in Hong Kong. - AustCham committee and members in general with a rolling program that enables them to keep up to date.

The Committee is representative of the sector being a mix of individual, corporate and government agency members –with the latter representing Australian, Hong Kong and Global financial and legal services businesses. These include Macquarie, Westpac, Goldman Sachs, Prudential, Minter Ellison, Ord Minnett, Davis Polk, Merkin, HSF, Deacons, ANZ, KPMG, Wells Fargo, CLSA, and various Australian trade services representatives covering DFAT, Victoria and Queensland.

Advocacy wor k and Submissions The FLT Committee actively participates in pertinent lobbying efforts and consultations which affect members in general within the AustCham context. Examples of these efforts are: • Ongoing lobbying for implementation of a Double Tax Agreement (DTA) between Hong Kong and Australia and updating of the China-Australia DTA, plus a parallel effort on similar Free Trade and mutual recognition for funds and related bodies.

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• Hong Kong property stamp duty review. • Developments in terms of tax information exchange and related agreements. • Hong Kong broadening tax base consultations. • MPF reforms in Hong Kong. • Companies code and competition law ordinances.

Events and Briefings An annual event hosted and arranged by the FLT Committee is the Australians in Finance, with a select invitation of committee members and leaders in the sector – sponsored in 2014 by ANZ, KPMG and Herbert Smith Freehills. The Committee arranges and hosts a series of events each year. Events are primarily briefings for members or with the broader AustCham community. Ongoing briefings and speakers events on such topics as: • Shanghai Hong Kong Stock Connect • MPFA update by the regulator • Trustee ordinance update • Bitcoin • New companies ordinance update. The Committee also annually supports with member sponsorship an AustCham monthly Mix at Six.

Keeping member s up-to-date The Committee has also worked to ensure contemporary articles are published in austcham news covering aticles such as: - New withholding regime for Non-resident (tax purposes) disposing of assets (Tommy Ip) - New HK Companies Ordinance presentation (Greg Elliott) - Australian Federal Budget 2014-15 (Darren Bowdern) - Offshore Voluntary Disclosure Initiative – Australian Taxation Office Project DO IT (Tommy Ip) - Hong Kong’s First Tax Information Exchange Agreement (TIEA) (Patrick Trainor) - Stamp Duty Amendments on Property Transactions Passed (Ian Thomson) - Australians in Finance Highlights - Get the latest update on Hong Kong Pensions and MPF (Ian Thomson) - Budget Comment: Key points to note for HK 2015-2016 Budget (Ian Thomson)

L OOKING AHEAD

The Committee actively works to define a program on a running basis that is focussed on issues of import to Committee and Chamber membership. The Committee seeks input from members across the broad based on interest in both the Hong Kong and Australian industries where it considers a material difference can be made. Some upcoming matters are: • Lobbying efforts and other continue on matters still outstanding • DTA as a continuing effort • HK-China mutual funds update (July) • Australians in Finance (September) • Signature Invetsment Visa Update(end of year) • Open Ended Fund update (end of year).

SPECIAL OFFER FOR R EAL ESTATE AND PROPERTY Are you keen to promote your courses and services to an important and affluent client base? Don’t miss this great feature and an opportunity to boost your profile and get new business leads by letting our readers know about you and your services through advertising in the austcham news September edition. We are pleased to offer all full page advertisers a bonus 200 words editorial to further promote their company, products, services or special offers to our readers. Booking Deadline: Friday 14 August 2015 Material Deadline: Monday 24 August 2015 Publication Date: mid-September Special advertising rates: Full Page: HK$9,800 HK$8,500 (with bonus 200 words editorial) Half Page: HK$8,400 HK$6,800 Quarter Page: HK$6,500 HK$5,200 For advertising enquiry, please contact AustCham Marketing and Communications Manager Karen Wu on karen.wu@austcham.com.hk or +852 2522 5054.

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The AustCham People Forum (APF) exists to meet the needs of its members in terms of professional development, knowledge building and sharing of best practices in Human Resource Management.

Committee Mangement Co-Chair, Madeleine Price Madeleine is the Head of HR Business Partner Groups, APAC at BNY Mellon. 20+ years international experience in People Management in Professional Services, Law, Consulting and Financial Services.

Co-Chair, Hong Tran Hong is a partner of Mayer Brown JSM. He advises employers on compliance with employment, discrimination and privacy legislation, as well as strategic labour force issues.

Active members include: Eastspring, Speak, Total Loyalty, Telstra, Cliftons, FCM, KPMG, UniGroup, EY, and ALD.

ADVOCACY WOR K The APF discusses relevant topics and share industry experience in areas such as recruitment, talent, outsourcing, cross cultural integrations, workplace disputes, retention, schooling, coaching and use of social media. This is done through APF meetings as well as presentations by members and external speakers. The APF has actively considered and has been approached for views

Engagement and Looking ahead The APF engages with the business community through regular events. We engaged with a wide cross section of industries at a recent event on the Future of Flexible Working, with panel members from real estate (CBRE), technology (Telstra) and professional services (EY). Previous panellists have included KPMG, Manulife, ANZ, Mayer Brown JSM and other industry leaders. Some of the events hosted by the APF include: • Debate on minimum wage • Cross Cultural awareness • The Future of Flexible Working. Our upcoming events include: • Global Mobility • Sequel to “The Future of Flexible Working” • Employment Law 101. We have built up a strong connection with the industry and have collaborated with BritCham, the Equal Opportunities Commission and The Employers' Federation of Hong Kong. We are currently working closely with AustCham’s newly launched Women in Business Network to promote diversity and inclusion. The Committee looks forward to working together with the community and recently has been discussing the possible contributions to disability initiatives.

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by other Committees in the Chamber on HR-related policy issues. Issues that the APF has considered advocating on include changes to the MPF rules, minimum wage, standard working hours, LGBT and age discrimination. The APF is also a place where members can network and obtain professional support from their peers.

Mission The APF will be reviewing the current mission statement over the summer: • Support AustCham members, Australian businesses and Australians in business in Hong Kong by: - Contributing to the debate and discussion on Human Resource (HR) related matters with relevant Government departments and industry bodies. Contributions are made through responses to formal or informal discussion papers, consultation papers and the like. - Where possible and appropriate, liaise with similar organisations to share knowledge and experience and to collaborate in response to issues arising from the above. - Through sharing of knowledge and information among members assist in identifying better business practice in relation to HR subjects and employment related matters. • Support the HR profession in Hong Kong by: - Sharing, formally and informally, skills knowledge and experience among the broad sub areas of HR. - Creating a mechanism for welcoming and supporting newly arrived HR professionals from Australia and/or member companies. - Partnering with other organisations such as HKIHRM and AHRI to promote HR careers and opportunities in HK.

The Small Business Network (SBN) was set up in 2014 with great support from Primasia. Over 50% of AustCham members are SMEs and the Network is a platform to provide interested members with meetings, speaking events, networking events and cross-chamber activities; the opportunity to generate referrals and business within the network; and a platform to provide assistance and professional guidance.

Committee Mangement Moderator: Tommy Ip is the Founder Managing Partner of Holistic Business Consulting, an accounting firm specialised in expatriates’ tax solutions. Tommy has over 18 years of experience in advising Australian tax.

Moderator: Mark Sims is the CEO of Go N Live. Mark is an internationally experienced executive with over 20 years background in Sales, Business Development and Management Consulting - now turned Entrepreneur who is the pioneer of On Demand storage by the Item in Hong Kong.

Engagement and Mission Over the past 12 months, the SBN has hosted a number of events that are related to the day-to-day challenges that small businesses are continuing to face. It ranges from hiring interns to branding a start-up company. The events received very positive feedback. There were some very practical presentations which targeted small businesses. For example, our first breakfast session was

about Hong Kong Employment Rules. The nature of a small group makes is very easy to have round table discussions. The engagement level was very high due to the fact that the issues were very relevant to our members. The other successful event was regarding the SME funding, we received overwhelming response from members.

L OOKING AHEAD We look forward to growing the Network steadily and continuing to focus on small businesses’ needs. We will engage with other AustCham Committees and work together on joint events. For example, we are planning on a ‘Women Entrepreneurship’ event with the Women in Business Network, and a ‘Technology for SBN’ event with Business Technology Committee in 2015. There will be more cross-chamber activities, as we are going to liaise with some of other chambers with similar groups as small business.

We will still conceive to have activities that provide opportunities for members to generate referrals and business within the network. • We will liaise with the HKTDC to run more events that focus on assisting small businesses. • We will be running speaking events that teach small businesses about branding themselves and invite members to do an elevator pitch.

Proudly supported by:

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The Sustainable Development Committee (SusDev) exists to meet the needs of its members in terms of responsible business practices such as sustainability and corporate social responsibility. The Committee has a diverse mix of senior executives from Aurecon, BSR, CLP, HKUST, Leighton, Meinhardt, Plastic Free Seas and other private consulting firms.

Committee Mangement Vice Chair: Helen Cochrane, Director – Environmental of Meinhardt Infrastructure and Environmental Ltd Helen manages all Meinhardt's environmental projects. She has 27 years experience in the diverse aspects of environmental management, impact assessment, monitoring and auditing, with over 20 years in Hong Kong. Helen has particular expertise in managing complex multidisciplinary infrastructure projects.

Vice Chair: David Brown, Adjunct Assistant Professor of HKUST David develops and teaches the "Green Buildings and Energy Efficiency" course at the HKUST. He is very committed to energy management, carbon emission reduction and environmental conservation. He enjoys voluntary support for disadvantaged communities.

Mission The SusDev Committee is an active advocate in green buildings, waste management energy efficiency, Biodiversity (BSAP) development and CSR issues that have a direct or indirect effect on businesses in Hong Kong. The aim of SusDev Committee is to: • Promote a better understanding and awareness of environmental issues within AustCham and the broader community. • Contribute towards the social, economic and environmental development of Hong Kong. • Encourage and support appropriate initiatives that work towards a cleaner environment. • Communicate and work with the Hong Kong Government to achieve this mission.

ADVOCACY WOR K The SusDev Committee actively engages with local government, NGOs and other international chambers on policy updates. We have built up a strong connection with the Environment Bureau and have met with their Secretary and Under Secretary to exchange views on topical issues such as waste management and future energy markets. The Committee has frequently shared industry insights in austcham news and our social media platforms. SusDev is one of the most active committees that contributes to AustCham’s advocacy work, including the submissions: • Annual HKSAR CE Policy Address and Budget • Environmental Infrastructure Projects • Public Engagement on the Proposed Establishment of a Harbourfront Authority • Fuel Mix Consultation • Response Paper to IIRC. The Committee welcomes your input and support, please contact the Secretariat if you would like to get involved.

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The Mission of the AustCham Women in Business Network is "To connect, support and advance women in business and promote gender diversity within the Australian Chamber community in Hong Kong and Macau".

Steering committee Chair: Fiona Nott, Governance and Compliance Consultant, Non-Executive Director Aesop Hong Kong Limited and AustCham Board member

Steering Committee Members: Simone Wheeler, Head of Communications, CLSA Maaike Steinebach, Chief Executive Hong Kong Branch and MD Institutional Banking & Markets, Commonwealth Bank Gautam Dev, Chief Human Resources Officer, Eastspring Investments

Engagement and Mission Announced in January 2015 by Ita Buttrose, the AustCham Women in Business Network (WIBN) has been on a roll since its official launch in March. With a focus on knowledge exchange, networking and training, the goal of the network is to meet the professional and personal development needs of women members while facilitating corporate member engagement in diversity and inclusion initiatives, all the while promoting recruitment and retention of new AustCham members. The Network is open to all AustCham members, whether individuals or corporates. The Chamber is delighted that global recruitment firm Ambition were the first to offer their support to the Network in the form of an official sponsorship alongside Aesop, a longtime AustCham supporter. In the first six months of 2015, WIBN has hosted five events featuring inspirational leaders including Michelle Guthrie of Google, Kimberley Cole of Thomson Reuters, Frances Adamson, Australia's Ambassador to China and two finalists in the 22nd Australia-China Business Awards, People’s Choice Award for the Advancement of Women in Business.

In addition to the generous sponsorship from Ambition, the Network has been delighted with the support of speakers, moderators and hosts from Westpac, Macquarie, KPMG, Telstra, Thompson Reuters, Bloomberg and Artemis Communications. Apart from internal networking and leadership events and programmes, part of the Network's strategy is to actively engage with other Committees and Networks of the Chamber to host joint events and encourage greater female participation, and support corporate member engagement in diversity and inclusion. To that end, the Network is planning a joint event with the Construction, Property and Infrastructure Committee in the second half of 2015. The Network will continue to collaborate with other Chambers and organisations promoting gender diversity in Hong Kong and Greater China. For example, a joint event was held in April with The Women's Foundation to host Frances Adamson, Australia's Ambassador to China. The WIBN is also planning round table discussions with business leaders, both female and male (and within the network membership) on issues of importance to members.

L OOKING AHEAD There are a number of initiatives in the pipeline for the next 12 months, including a joint event with Construction, Property and Infrastructure Committee, a female entrepreneurs forum, a debate and a members survey.

Proudly supported by:

Look out for the summer networking drinks in late August! The Network welcomes your input and support in making this new network a success so please let the Secretariat know if you would like to get involved.

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The AYE membership base draws from a diverse range of industries, including Finance, Law, Marketing, Media and NGOs.

Committee Mangement AustCham Young Executives (AYE) is chaired by Alex Oxford, Business Development Manager at LexisNexis. Alex has been in Hong Kong for the last three years and is also a committee member of the Hong Kong Dragons AFL club.

Vice-Chair: Cassandra Venn, Director, UBS

Vice-Chair: Paul Kam, Vice President, HSBC

Events The AYE is focused on delivering professional development and networking opportunities for young professionals. We have achieved this through delivering targeted, best-inclass events and programs that act as a catalyst to a young professional’s career develoment. The AYE spearheaded the establishment of the AustCham ANZ Mentor Program, now running in its third year. The program has been not only been successful in attracting new members for the AYE, but also assisted in cementing AustCham’s reputation as a leader amongst business chambers for mentoring and professional development. Furthermore, AYE also established the long-

running CEO Series with great support of Herbert Smith Freehills. Past speakers including CEO Asia of Macquarie Bank, a partner of Herbert Smith Freehills and CEO Asia of Flight Centre sharing their views and experiences with our members. These themed talks – on topics such as negotiation and succeeding in Asia – provide our members with the opportunity to interact with and learn from successful leaders, and incorporate what they have learned into their professional lives. Finally, the committee also hosts a Mix at Six once a year which has a reputation of combining effective networking with having a good time!

Engagement and Mission The AYE connects with the community primarily via the events that it runs. Many young professionals – often nonchamber members – are drawn to the relevance of the topics, the caliber of speakers and the networking aspect of the events. Events are run in collaboration with various corporates, businesses and independent professionals, each

providing their unique strengths and contribution with the goal of mutual benefit. The AYE also has connections with its counterparts at the various chambers, and often run joint events to deepen collaboration and foster broader networks.

L OOKING AHEAD The AYE is currently focused on three core aspects. We look to continue the momentum we have built with the CEO Series by continuing to draw high calibre speakers with topics that are front of mind for young professionals. On the development front, we are in the process of developing To maximise the value of your AustCham membership, we strongly encourage interested parties to join AustCham Committees. Members who wish to know more details can email the Secretariat caness.chan@austcham.com.hk

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a professional development series, focused on equipping young professionals with practical skills to use in their careers. Finally, the Committee is also designing a Corporate Social Responsibility program that incorporates aspects of community outreach and philanthropy.

Macau Chapter

AustCham Macau based members from companies operating in different industries including integrated resorts, gaming, manufacturing, and professional services have been working together to grow AustCham’s presence in Macau. They and their organisations have been working in Macau for many years and have indepth understanding of the Macau environment, which will help create and maintain a strong connection between AustCham members, Macau Business, Macau SAR Government and other associations. The Macau based members believe this represents a significant opportunity for AustCham. Through regular meetings and working with other stakeholders such as Austrade, the members seek to gather information and provide solutions to improve the efficiency and effectiveness of Australian companies and Australians doing business in Macau so we can play our full part in Macau’s continuing success.

Steering committee Chair: Michael Usher

Deputy Chair: Patrick Liu

Michael Usher (MBA, BSc) is the Founder, CEO and Technical Director of the Vialux Group, with offices in Macau and Vietnam. Michael has over 25 years experience in the manufacture, sourcing and installation of architectural lighting and signage systems, principally for the gaming, entertainment and hospitality sectors. He commenced work in Macau in 2003 and has lived here since 2007.

Patrick Liu FCPA (Aust.) is both Audit and Tax Senior Manager of KPMG based in Macau. He has over 10 years of experience in audit of statutory and non-statutory financial statements prepared in accordance with IFRS, HKFRS, PRC GAAP and Macau FRS, provide tax compliance and advisory services. His clients are from industries including insurance, banking, gaming, manufacturing, construction, retail, etc.

Taliessin Reaburn – Trade Commissioner, Hong Kong and Macau, Australian Trade Commission (Austrade) Vincent Kelly – Managing Director, Asia Pacific, Aristocrat (Macau) Pty Limited Liviano Lacchia – Vice President, Recruitment, Galaxy Entertainment Group Martin Darveniza – COO, Hengqin Project, Galaxy Entertainment Group

L OOKING AHEAD

A major priority of the Macau membership is to fine tune our focus and direction, providing a clear purpose for AustCham in Macau. To this effect a Steering Committee has been established to review every aspect of the relationship between Australia/Australians and Macau and recommend an appropriate structure and mode of operation for the future. This Committee will report to Macau members before the end of 2015. Outbound investment in Hengqin has been a hot topic in Macau in recent years. The Macau members will work closely with different business organisations to provide solutions to AustCham members who want to invest in Hengqin.

Mission

• Act as a connection between AustCham members including business, self-employed and professional with Macau business and Macau SAR Government. • Assist Australian business to seek opportunities with AustCham members and non-members in Macau. • Connect non-members who have a relationship with Australia (e.g. doing business with Australian companies, Macau locals returning from Australia) in Macau. • Provide updated information and discuss issues on business law, tax and other regulation that will impact on doing business in Macau or Australians living in Macau. • Provide recommendations to Macau SAR Government on its policy affecting Australians doing business or residing in Macau. • Provide AustCham members networking opportunities with other members, Macau business and Macau SAR Government and in future hold events to celebrate significant Australian milestones. • Participate in events within the Southern China region, including Hengqin, and Hong Kong.

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24 â&#x20AC;˘ austcham news | issue 175

he Chambers' dynamic committee system has more than 150 volunteers meeting monthly to arrange events and industry updates, as well as discussing relevant issues within their industry or business area. Committee activities are generally restricted to members of that Committee.

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Industry Insights

Does good governance lead to better performance?

All the phases of the cycle are inevitable, necessary and, most importantly, unavoidable. - Dr Robert Kay

ood governance is a team activity with its primary process being one of collective sense-making. That was the view expressed by Dr Robert Kay, executive director and cofounder of Incept Labs, addressing delegates at the Australian Institute of Company Directors (AICD) annual conference.

Three critical factors that emerged as being crucial to the ability of the board and executive team to deliver a superior outcome, were: • Perspective • Scale • Prediction.

Discussing a report titled, 'When does good governance lead to better performance?' Kay outlined research findings which he said represented a significant departure from the way in which the topic of good governance has been researched in the past.

“The limitations of human psychology, in the form of personal bias, hubris and the simple fact that one cannot be good at everything, requires a team to overcome these difficulties,” Kay said.

Kay’s study – backed by the AICD – aimed to explore what constituted “good governance” using the findings from interviews with 100 chairs. In order to make sense of the data captured in the interviews, Kay said the research collated would need to be viewed in a way that emulated the changing dynamics of the workplace. To provide this conceptual lens, Kay used the Holling Cycle to categorise the different circumstances boards faced and illustrate the characteristics associated with different circumstances.

“The notion that good governance is a team activity arises because, through an effective team, we can to some extent overcome these limitations, or at least minimise their impact”. The research found that there were certain qualities that must be held in combination in order to be effective: • Diversity of skill and experience • An independent mindset and willingness to question and challenge respectfully • Openness to alternatives • Trust.

The Holling Cycle is a model of cyclical change used to guide the choice of strategic stance appropriate to different environmental circumstances. It is divided into four phases through which a system is continuously travelling: • Conservation • Release • Reorganisation • Exploitation.

The research also showed that building and maintaining the right type of team is difficult. Many chairs indicated a “sweet spot” where the many variables involved came together to produce an effective decision-making unit.

“All the phases of the cycle are inevitable, necessary and, most importantly, unavoidable,” said Kay.

Kay said the concept of team and trust and the relationship between them presented significant measurement issues to understanding the relationship between good governance and performance.

“The question in terms of what constitutes ‘good’ governance is whether the decision-making body of the organisation has the capacity to effectively manage the different challenges inherent to each of the phases.” As with all theories, the answer to seeking good governance is not that straightforward. While a crisis may expose the quality of governance in an organisation to the outside world, the experiences of those involved would suggest that the more frustrating governance problems were experienced when things were going well.

Many also recognised that while the need for skilled, experienced directors and increased diversity on boards is well documented, it was no guarantee of good governance.

He added that attempting to quantify the relationship between good governance and performance was difficult due to the vast range of variables involved. “It is clear that governance is a quintessentially human activity and subject to all the imperfections and frailties that it engenders. Good governance then provides a pathway to dealing with these limitations,” the research concludes. Source: This is an edited extract of an article that was first published in Company Director (July 2015), the membership magazine of the Australian Institute of Company Directors.

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Educational Service Feature

Australian International School Hong Kong (AISHK)

ustralian International School Hong Kong (AISHK) is an academically non-selective, Reception to Year 12 International School. Following the Australian Curriculum, AISHK offers senior students the option of undertaking either the NSW Higher School Certificate (HSC) or International Baccalaureate (IB) Diploma.

In 1997, Australian International School Foundation was granted a parcel of land to build a new school campus. The school's new permanent Kowloon Tong home, as we know it today, opened its doors on 4 September 2001 to over 500 students enrolled at the school.

Twenty years ago, AISHK was founded to fulfil the growing demand for a high quality Australian educational institution in Hong Kong and was officially incorporated on 26 January 1995. It was established as a non-denominational, English-medium International School.

Now in its 20th year, AISHK is a leading International School of more than 1,100 students and an ever-growing alumni base. AISHK prides itself on continued academic excellence, with over 98% of the school's graduates go on to study at the top universities in Australia and around the world.

The school first opened at its Boundary Street, Kowloon Tong campus on 6 February 1995, with 25 students. During July of the same year, AISHK moved to the Gun Club School in Tsim Sha Tsui, where Year 7 classes were first offered.

AISHK would like to thank the local Hong Kong and Australian community for its support over the years and looks forward to the next 20 years of success.

Harrow International School Hong Kong

arrow International School Hong Kong is the first coeducational international boarding and day school in Hong Kong. The School provides a British independent style of education from Early Years to Year 13 in a magnificent crescentshaped building with custom-built facilities. It integrates elements of educational philosophy, practice and traditions from Harrow School in England into the diverse international community of Hong Kong. In delivering its vision statement, Leadership for a better world, the School places emphasis on high expectations of academic excellence, breadth and quality of extra-curricular achievement, positive contributions to the School community, and the development of leadership skills. Curricula The English based Early Years Foundation Stage Curriculum (K1 to K2), New Primary Curriculum and Primary Strategy (Y1-Y5), and

National Curriculum (Y6-Y8) progressing to IGCSE (Y9-Y11) and A-level (Y12-Y13). Extra-curricular activities The School integrates a wide range of extra-curricular activities into the timetable and in post-school enrichment time. The activities aim to develop skills associated with service, charity, teamwork, creative expression, leadership and challenge. Pastoral Care The quality of relationships and community life, and the personal formation of character are fundamental to the School life. In the Lower School, the Class Teacher is responsible for all aspects of each child’s educational and personal wellbeing: in the Upper School, the House Master or House Mistress takes over the primary role in the pastoral care of students. Boarding can begin from Y6.

Melbourne Grammar School

ince 1858, boys from around Victoria, interstate and overseas have been boarding at Melbourne Grammar School. Our students enter a caring, inclusive environment that helps them thrive. Dedicated staff and a structured schedule assist our boarders to achieve their academic potential, build relationships, gain confidence and learn independence in preparation for their transition to tertiary study and adult life. Melbourne Grammar School has a proud tradition of academic excellence – each year, our Year 12 students achieve outstanding VCE results and go on to study at some of Australia’s best universities or forge successful careers in their chosen discipline. Our rigorous academic programme is balanced with an engaging suite of co-curricular and extra-curricular opportunities that allow every individual to pursue his passion in sport, creative and performing arts, community service and much more.

Pastoral care is at the heart of what we do. Boys enter a supportive learning community where they are encouraged to build strong relationships with their peers, their teachers and the other boarding staff. A team of specialist tutors visits the boarding houses during the week, to assist with homework and revision. Located in the heart of Melbourne, overlooking the Royal Botanic Gardens, our purpose-built boarding facilities are located alongside the South Yarra campus, giving boys access to the School’s gym, swimming pool, tennis courts and library. Boys have ready access to public transport, allowing them to make the most of Melbourne’s acclaimed sporting and cultural venues located nearby. issue 175 | austcham news

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Small Business Corner

Growth Trend of “Flexible Workspace” opportunities and the irresistible allure of brandishing a prestigious address, since most of the Hong Kong serviced offices are positioned in many of the prime locations within Hong Kong. Overall, the flexibility and mobility offered and encompassed within the average (Hong Kong) serviced office price renders the option of using serviced offices increasingly attractive, especially as it has enabled many businesses to cut overheads and to ensure significant cost savings.

he working landscape is changing globally, with the trend of adopting flexible workspace practice increasing steadily in recent years according to a recent report by Regus. Rising office rent and the advance technologies that empower companies and employees to work on the move contribute to this trend. Moreover, a Regus survey indicates that 47% of businesspeople in Hong Kong think flexible working is key to foster “innovation” and “entrepreneurship”. With government and organisations' continued investment on “Start-up” and “entrepreneurship” programmes, Regus believes the flexible workplace momentum will continue to grow. While home office is a major component of flexible workspace practice in Western countries, the situation is different in Hong Kong. From the Regus survey, local respondents did not find working at home – even with a professional setting – was the best option. Over 60% of the respondents preferred working in a serviced office.

“We’ve seen the increase in demand and uptake of flexible workplace in Hong Kong and continue to grow to meet that demand, Regus has just opened two new business centres in first half of 2015 taking the total to 20 locations. Geographically, we expanded our footprint from traditional commercial districts, Central, Wan Chai, Causeway Bay to new commercial districts, Kung Tong and Chai Wan. At the same time, we are looking at difference price ranges to ensure we have solutions to meet any budget” said Michael Ormiston, Country Manager, Regus Hong Kong. Source: Regus Hong Kong. With 3000 locations globally, Regus provides various kinds of products including fully-equipped offices, virtual offices, meeting rooms, and exclusive Regus business lounges.

Regus is now offering free one day office trial for AustCham members! Please call + 852 3669 7130 for details.

Why Serviced office The benefit of working from a business centre is immense including lower initial costs, flexibility, all inclusive service and cost saving. Additionally, there are innumerable intangible benefits to adopting a serviced-office model, including the networking

AustCham Platinum Patrons

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Events Update

EVENTS UPDATE AUGUST & SEPTEMBER AT A GLANCE Wed, 19 August, 8:30 – 10:00am Stand Up and Build Your Brand, hosted by Small Business Network Servcorp, Level 19, Two IFC, 8 Finance Street, Central Thu, 20 August, 6:00pm – 9:00pm Mix at Six iCON, G/F, Parekh House, 63 Wyndham Street, Central, Tue, 25 August, 6:00 – 8:30pm Women in Business Network Summer Drinks Anita Chan Lai Ling Gallery The Fringe Club, 2 Lower Albert St, Central Fri, 4 September, 12:30pm – 2:00pm Tasmania Investment and Trade Luncheon Poolhouse, 11/F, Grand Hyatt Hong Kong, 1 Harbour Road, Wanchai Wed, 9 September, 12:30pm – 2:00pm LIVE THE DREAM: Your Australian Retirement Strategy AustCham Business Centre, 3/F, Lucky Building, 39 Wellington Street, Central Fri, 11 September, 8:00 – 10:00am How competitive is HK in the global mobility scene? EY, 22/F, CITIC Tower, 1 Tim Mei Avenue, Central Thur, 17 September, 12:30pm – 2:00pm AustCham ANZ 2015 Mentor Programme: Financial Literacy ANZ, 22/F, Three Exchange Square, 8 Connaught Place, Central

AustCham on Social! CONNECT · ENGAGE · REPRESENT

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The Australian Chamber of Commerce in Hong Kong and Macau Room 301-302, 3/F Lucky Building, 39 Wellington Street, Central, Hong Kong T E

+852 2522 5054 austcham@austcham.com.hk

F +852 2877 0860 W www.austcham.com.hk

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2 2636 8388 g@crownrelo.com

Corporate Profile

Crown Worldwide Group 23/1/2015 3:25:36 PM

9-11 Yuen On Street, Siu Lek Yuen, Shatin, Hong Kong www.crownrelo.com

Crown Relocations provides transportation, destination and immigration services, as well as employee and family support, to assist people relocating internationally or domestically. With people working in almost 60 countries, Crown is an enthusiastic champion of the benefits of relocation. We provide support, guidance, care and the personal attention needed to ensure success. What are the main skills of your job?

Sherry Liu Regional General Manager Crown Relocations & Fine Art, Greater China

I work with talented people and my job is to help them channel their skills to perform at their best and keep our customers happy. What’s the most unusual thing you have had to do as part of your job? One of my most memorable experiences was being in a convoy delivering priceless objects under armed guard and a police escort. What does your company do really well? Crown partners with our corporate customers to develop tailored relocation programs for their globally mobile workforce. Every client is unique. Luckily, we not only know the latest trends in mobility but have 50 years of experience in the business of relocating people, so we always help our customers find the right solutions.

What’s something most people don’t know about your company? We are the only global fine arts logistics company and have even moved the Mona Lisa! What’s your company’s connection to Australia? We are the top relocations company in Australia and our wholly owned network is over 100 years old with over 40 offices. What’s your favorite place to go on the weekend? Anywhere that’s child friendly! During the summer we like going places where the kids can burn off energy and not overheat.

How would you describe your workplace and colleagues?

What’s your favorite place to eat lunch?

After 16 years at Crown, one of the best parts of my job is seeing familiar faces year after year. When we get together for conferences it’s like meeting my global family.

Thankfully, Shatin where I’m based, has improved its lunch options over the years. I love the Hyatt Regency’s Sha Tin 18 when dining with clients.

o enquire about advertising, submit an article, comment or respond to austcham news, please contact Karen Wu at karen.wu@austcham.com.hk or call +852 2522 5054.

30 • austcham news | issue 175

On The Scene

Our

company provides, audit and taxation services. Additionally, our affiliated company provides accounting and company secretary services for Hong Kong companies. W www.kkchoco.com.hk T (852) 3996 7398 E kkcho@kkchoco.com.hk

Noelle Walker of elle Marketing Communications and Adler Ho of Adler Ho Property Consulting.

Ross Williams of brandwerk, Jenni Sparks of SAWA Actuarial and Troy Greig of FitzGerald Lawyers.

Adarsh Arya Manu of ANZ and Masaru Kamemoto of Maxell.

June Mix at Six was and held at Alibi, Langham Place Mong Kok and co-host with the Hong Kong Japanese Chamber of Commerce and Industry (HKJCCI). AustCham thanks the great support from HKJCCI and beer sponsor on the night, Brandwerk. AustCham Treasurer Andrew Macintosh and AustCham CE Drew Waters with HKJCCI Secretary General Masakazu Yagyu and Deputy Secretary General Kaori Nishimura.

AustCham Chief Executive Drew Waters, lucky draw winner Pippa Dickson, AustCham Business Development Manager Jason Quinn and prize sponsor Shaun Campbell of Langham Place Hotel.

Lawrence Siu of NAB, Andrew Han of Ord Minnett and Kathy Stannard of Calibre Asset Management.

Giselle Bates of Toll and Sayaka Nakamura of Coface.

Thomas Helmer and Caroline Sapriel of CS&A International and Brian Hunter of PwC.

More coverage can be found on our online photo album: www.flickr.com/photos/austchamhongkong

Kaitlan Chung and Karen Chan of HBA with Lauren Guilbert of LinkedIn.

July Mix at Six was held at insomnia, in celebrating the anniversary of AustCham Small Business Network. Special thanks to Network sponsor: Stuart Helmore of HH Asia Pacific Ltd, Darryl Pilgrim of AME group and Digby Ross.

Small Business Network Moderator Tommy Ip with Craig Price of PCCW Global. issue 175 | austcham news

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50 Years of big adventures And countless life-changing experiences

In fifty years we’ve learned a lot about what makes relocations more successful for everyone. With experienced and knowledgable people on the ground in more than 60 countries we equip you well for your relocation: • We’ll help you get to know the destination well before you go • Show you how to make it easier and more exciting for children, and less stressful for pets • We’ll look after your belongings with expert packing and transport • And when you arrive, we can help you get settled quicker and enjoy the thrill of a new place or a different culture.

Tel: +852 2636 8388 hongkong@crownrelo.com

Go knowing