SUPER-CONNECTOR EDITION The Australian Chamber of Commerce Hong Kong and Macau 香港及澳門澳洲商會
ISSUE 177, 2015
The ASEAN Link in China’s Belt and Road Initiative P.10
Hong Kong Focus Belt and Road Explained
P.14
Macau Focus Forging ahead towards Diversification of Leisure and Tourism Offerings: A Case Study from MCE
Industry Insights Things to know before you go Adapting is easier when you P.16 know what to expect
www.austcham.com.hk
Contents
austcham news issue 177 03 Chamber Chatter 05 Events Update
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
20 Nov - ACCESS China Forum 10 Dec - AustCham Christmas Mix
06 Cover Story The ASEAN Link in China’s Belt and Road Initiative
10 Hong Kong Focus
- Belt and Road Explained - Hong Kong Opens up new Markets for Wine in Asia
14 Macau Focus
Advertising: Karen Wu Email: karen.wu@austcham.com.hk
Forging ahead towards Diversification of Leisure and Tourism Offerings: A Case Study from MCE
CONNEC T • ENGAGE • REPRESENT
16 Industry Insights
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.
17 Chamber's Voice
18 Australians in Finance
20 AustCham Members in Macau
21 AustCham ANZ Mentor Program
A Chat with mentors and protégés
22 Committees in Action
24 Membership eCard Benefit
25 Corporate Profile Compass Offices
Disclaimer:
26 On The Scene Follow us on: Facebook Twitter LinkedIn
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 The ASEAN link in China’s One Belt, One Road initiative is the focus of this month’s AustCham News. One of the main issues for ASEAN nations has been that ASEAN still does not function effectively as a single economically integrated region. An economically integrated ASEAN, with nations that have overcome their internal divisions would create significant opportunities in many business sectors. It would have a market with more than 600 million people and a GDP significantly larger than India’s, and abundant natural and human resources. If, however, ASEAN competes as a loose amalgamation of nations, then ASEAN economies will continue to significantly underperform their potential. In recent years, China has increasingly displaced ASEAN nations as the final assembly point for a wide range of goods. The trend has been for ASEAN nations to supply components, subassemblies, and other industrial intermediates to Chinese assembly facilities. This led some to express concerns that China might leave ASEAN nations largely out of the picture in important industries. The One Belt, One road initiative helps alleviate these concerns by creating new opportunities for ASEAN nations to leverage existing strengths, and to create new ones. ASEAN’s exports to China grew rapidly since 2000, but ASEAN’s imports from China have grown more rapidly. As a result, ASEAN’s trade deficit with China has ballooned. One Belt, One Road may help address present imbalances by coordinating investment, production and supply across ASEAN nations, Greater China, and elsewhere, far more efficiently than is presently the case. China is developing into a major market for most goods. This, combined with ongoing efforts by China to upgrade its economy away from low-wage, light manufactured goods, is creating new opportunities in ASEAN nations. This has led many multinationals to adopt a “China plus one or China plus two” strategy for production, with the “plus one” or “plus two” being in ASEAN. Hopefully, the One Belt, One Road initiative will create opportunities for AustCham Hong Kong & Macau members and the China-Australia Free Trade Agreement will further enable Australia’s position as a contributor to, and beneficiary of, increased economic activity in the region. 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
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Chamber Chatter
Across My Desk It was with great pleasure I accepted an invitation to represent the Chamber at the recent farewell dinner for Her Excellency Frances Adamson, the Australian Ambassador to The People's Republic of China, as she shortly completes her tenure in that post. Ms Adamson has been an energetic and dedicated representative of the Australian Government during her time in Beijing, and has seen a number of significant initiatives during that time, not the least of which is the recently formalised China-Australia Free Trade Agreement. She has also been an enthusiastic supporter of AustCham in the region, and her regular visits to Hong Kong and Macau to speak to our members have been very well received. I would like to offer Frances my thanks for her support and my best wishes for her and her husband Rod, in their relocation back to Canberra. Our Annual ACCESS China Forum is drawing near and we have confirmed a panel of highly influential speakers for the day. This year, we have separated the morning into three sessions, and introduced a networking opportunity following the luncheon, where the day’s topics can be further debated in an informal setting. The three sessions will cover China’s new Foreign Investment Laws, the changes, and the opportunities that may stem from it; the political climate in China and how it may be affecting businesses, and; the state of China's economy and the opportunities that may arise to foreign businesses. All of the details for the forum are available on the website, of course, including a comprehensive list of speakers. This month sees the introduction of a Macau Focus section of the 'News', with industry updates, business successes, and outlooks of Australian expats living in the SAR. I’m excited about how we’re
bringing the two regions closer together with the very able assistance of our Macau Members Committee and all of the hard work they are putting into this collaboration. More events are planned, and I encourage any of you to make the short trip across the delta. Since I have been here, I have actively encouraged members' involvement with CSR activities, whether within their own organisation’s formal policy or through any activities generated by the Chamber. Our Young Executives Committee is no exception, and their hearty enthusiasm for involvement is very contagious. They recently provided manpower for the St Barnabus annual mid-Autumn dinner in association with Platinum Patron Commonwealth Bank, and dressed to the nines to assist at The Hub’s annual fundraising ball. The secretariat staff contributed to The Community Chest Dress Casual Day this month. I have to admit, I didn’t expect such a response from them when I agreed to match them dollar for dollar, but all to a good cause. It's time, as I’m sure you’ve been made aware by Elaine, to begin the Members Directory for 2016. This is a well-thumbed reference for our members and their activities, and provides you all with a vehicle to promote you and your services or products to the wider member base. Some advertising opportunities exist within the publication, and I’m sure Jason would like to hear from you if you would like to explore that further. The member consultation period for the amendments to our Articles of Association has passed and we have received a number of submissions. These have been very constructive and I’ll get back to you all very soon about the next steps in this complex process. Thank you for your involvement. Don’t forget to book your seats at ACCESS China everyone.
Drew Waters, Chief Executive Recycle + Poverty Alleviation, all via One Tie ! Recycle allall viavia One Tie!Tie ! Recycle++Poverty PovertyAlleviation, Alleviation, One
Les Beatitudes Limited (LBA) - Happiness in Latin levels, we urgently need new ways to reduce our waste. So LBA Les Beatitudes Limited is a social enterprise that is reinventing and up-cycling items to rebuild the relationship supports women who want to and need to work in a between Man and Mother Nature. more flexible arrangement and home environment. How to Help? In the 1960s, many Hong Kong women took work Support their craft ladies and invite them to feature their work at home(LBA) to make extra money Les Beatitudes Limited - Happiness inwhilst Latinlooking after their How to Help ? your gala dinner, luncheons, company events and regular staff sales. children and the elderly. These opportunities are rare Support ladyproducts and invite to feature workpersonal at your Les Beatitudes Limited is a social enterprise that supports women One may our evencraft use their as us a gift. To buildtheir precious in modern Hong products LBA designsand are who want to and need to work in aKong. moreThe flexible arrangement gala dinner, luncheons, company events, regular staff sales. One Howrelationships, to Help ? use their Tie products as you wish to reinforce your Les Beatitudes Limited - Happiness in Latin mainly items that (LBA) can be produced in small urbanKong environments home environment. In the 1960s, many Hong women as took may even use their products as that corporate or gift. Of course, personal our ties. craft ladyprecious and invite us to feature their work Leswork Beatitudes Limited is a social enterprise that supports women some of to these workers live in extremely condition within theSupport home make extra money whilst cramped looking after their children we want to build personal relationships, so at useyour our Tie gala dinner, luncheons, company events, regular staff sales. whoand want to and need to work in a more flexible arrangement and the These opportunities rare in modern Hong Kong. products as you wish to reenforce your personal ties. One mostelderly. impoverished district in Hongare Kong. even use their products as that corporate or gift. Of course, home the 1960s, many items Hong that Kong took inmaywww.LBAltd.com Theenvironment. products LBAIndesigns are mainly canwomen be produced www.LBAltd.com to build precious personal relationships, so use our Tie work homeurban to make extra money as whilst looking afterPositive their children Neckties to Build Tieslive inwe want Contact Enquiry@LBAltd.com small environments some of these workers Contact:us : Enquiry@LBAltd.com andextremely the elderly. These opportunities are rare inProject” modern Kong. cramped condition within the most impoverished districtproducts as you wish to reenforce your personal ties. “Tie to Bag isHong created to Theinproducts LBA designs are mainly itemsties that can be produced in Hong Kong. www.LBAltd.com rebuild and human relationship small urban environments as some of these workers live in Contact us : Enquiry@LBAltd.com in Hong Kong. They started with extremely cramped condition Neck-Ties to Build Positivewithin Ties the most impoverished district collecting men’s neckties and n Hong Kong.to Bag Project” is created Our “Tie to rebuild tieshandbags and human transformed them into and relationship in Hong Kong. We started with collecting men’s neckties Neck-Ties to Build Positive Ties unisex card holders. As Hong Kong’s and transformed them into handbags and unisex card holders. As landfills will soonties reach saturation OurHong “TieKong’s to Baglandfills Project” created to saturation rebuild and human willis soon reach levels, we urgently relationship in Hong Kong. We started with collecting men’s neckties need new ways to reduce our waste. So we are reinventing and andup-cycling transformed them handbags and unisex card holders. Asfree items tointo rebuild the relationship between Man andof AustCham is a non-profit organisation and provides this space Hong Kong’s landfills will soon reach saturation levels, we urgently Mother Nature. charge to other, selected non-profits or charities. need new ways to reduce our waste. So we are reinventing and up-cycling to rebuild the 177 relationship between Man and 4 • items austcham news | issue Mother Nature.
Community Corner
I
nnovation boosts productivity, creates more and better jobs, enhances competitiveness and grows an economy. From 1964 to 2005, 65 per cent of Australia’s economic growth per capita came from improvements in capital and labour – thanks to innovation. Yet, Australia has one of the lowest rates of start-up formation in the world. Less than one in two Australian firms identify themselves as innovators. And just 1.5 per cent developed “new to the world” innovations in 2011, compared to between 10 to 40 per cent in other OECD countries. What’s worse, more than 60 per cent of Australian innovators kept innovations within the company. As a result, some of our best and brightest are moving overseas to places like Hong Kong and Singapore to start their own businesses. If Australia is to remain a prosperous and competitive nation in a digital future, something needs to change. And the Federal Opposition acknowledges this. Over the last two years, we have created a suite of policies that will drive a new generation of innovators, risk-takers and wealth-creators.
A Letter from Canberra • creating a new platform for government to engage our best and brightest minds in solving public policy problems, based on the US Government’s challenge.gov • establishing an Innovation Investment Partnership, which brings together venture capital, superannuation funds and startup stakeholders to identify; and overcome barriers to investment and • developing a National Digital Workforce Plan. Australians are bright and creative and we’re not afraid to take risks. It’s up to government to create the right environment for innovation and entrepreneurship to flourish. The future of our nation depends on it. And to those talented Australian expatriates living in Hong Kong, we want you back. Gai Brodtmann MP, Federal Member for Canberra and Co-Convenor of Parliamentary Hong Kong Friendship Group
Our policies include: • creating a Startup Year at universities so students can develop their ideas, get business know-how and connect with finance • creating two new visa classes to attract the best global entrepreneurial talent to help build Australia’s growing startup ecosystem
EVENTS UPDATE NOVEMBER AT A GLANCE… Thur, 19 Nov, 12:30pm – 2:00pm AustCham ANZ 2015 Mentor Programme: Mini roundtable discussions Minter Ellison, Level 25, One Pacific Place 88 Queensway Thur, 19 Nov, 6:00pm – 9:00pm Mix at Six WET, 76/F, W Hong Kong, 1 Austin Road West Kowloon Station
Tue, 24 Nov, 12:30pm – 2:00pm Australian Reflections with Professor the Hon. Stephen Martin Tianshan & Lushan Room, level 5, Island Shangri-la Hong Kong, Pacific Place Supreme Court Road, Admiralty Thur, 26 Nov, 8:00am – 9:30am Employment Law 101 Mayer Brown JSM, 18/F Prince's Building 10 Chater Road, Central
DECEMBER AT A GLANCE… Fri, 20 Nov, 8:30am – 2:30pm ACCESS China Forum Ballroom, Level 3, JW Marriott Hotel Hong Kong, Pacific Place, 88 Queensway
Thur, 10 Dec, 6:00pm – 9:00pm AustCham Christmas Mix The Hong Kong Club, 1 Jackson Road, Central
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Cover Story
The ASEAN Link in China’s Belt and Road Initiative Riding on the existing Greater Mekong Sub-region (GMS) Economic Cooperation mechanism and the establishment of ASEAN Economic Community, the China-IndoChina Peninsula Economic Corridor proposed under the Belt and Road Initiative is expected to deepen China-ASEAN regional integration by pushing forward infrastructure connectivity, industrial co-operation, cross-border trade as well as e-commerce development. - Winnie Tsui, HKTDC Economist Crucial Position of ASEAN in both the Land and Sea Routes
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hinese President Xi Jinping’s announcement of the creation of the 21st Century Maritime Silk Road during a speech to the Indonesian parliament in October 2013 is seen as an indication of the important role that ASEAN plays in China’s Belt and Road Initiative. In March 2015, when China issued The Vision and Actions on Jointly Building the Silk Road Economic Belt and the 21st Century Maritime Silk Road policy initiative, it came as no surprise that strong emphasis was placed on orienting the trade routes towards ASEAN countries with a proposed China-Indochina Peninsula Economic Corridor. ASEAN countries have long been the key trading partners of China. Since the launch of the China-ASEAN Free Trade Area (CAFTA)
6 • austcham news | issue 177
Myanmar Laos
China-Indochina Peninsula Economic Corridor
Cambodia Malaysia Singapore Indonesia
China-Indochina Peninsula Economic Corridor
Vietnam Philippines Thailand
Brunei Darussalam
in 2010, improved institutional co-ordination and increasingly sophisticated intra-regional supply chains have driven ChinaASEAN bilateral trade to new heights. Bilateral trade has grown significantly at an average annual rate of 18% between 2009 and 2014. To deepen multilateral co-operation, China and ASEAN began negotiating an upgrade of the existing CAFTA pact in 2014, with a focus on strengthening investment, trade in goods and services, and economic and technology co-operation. The discussion, likely to be concluded by the end of 2015, is expected to further enhance ASEAN’s crucial role in the Belt and Road Initiative and to facilitate further regional integration. Mainland Southeast Asia, or the Indochina peninsula, is connected to China by land. The transnational transport network of the Greater Mekong Subregion (GMS), of which Guangxi and Yunnan provinces are members, in combination with the proposed maritime silk road that will link major sea ports along the coasts of Vietnam, Cambodia, Thailand and Myanmar, will intensify ChinaASEAN trade and industrial co-operation. It will also extend the economic benefits further afield to South Asia and Western Asia when the new multimodal transportation networks are in place. Transportation Network in the China-Indochina Peninsula Economic Corridor In building the China-Indochina Peninsula Economic Corridor, China will piggyback on the economic co-operation mechanisms of the GMS. During the Fifth Leaders Meeting on Greater Mekong Sub-regional Economic Co-operation, held in Bangkok in December 2014, Chinese Premier Li Keqiang put forward three suggestions with regard to deepening the relations between China and the five countries in the Indochina Peninsula. These were: (1) to jointly plan and build an extensive transportation network, as well as a number of industrial co-operation projects; (2) to create a new mode of co-operation for fundraising; and (3) to promote sustainable and co-ordinated socio-economic development. Currently, the countries along the Greater Mekong River are engaged in building nine crossnational highways, connecting east and west, and linking north to south.
Located along the planned path of the China-IndoChina Peninsula Economic Corridor, ASEAN countries are set to play a crucial role in the Belt and Road Initiative.
leading to the Friendship Gate and Dongxing Port at the ChinaVietnam border. The highway from Kunming to its borders with Myanmar and Vietnam has also been upgraded.
Major Routes Connecting GMS Countries GMS Economic Corridors
Connecting Countries
Total Length
East-West Economic Corridor
Myanmar–Thailand– Laos– Vietnam
1,320 km
North-South Economic Corridor
Thailand–Laos–China (Kunming)
2,000 km
Southern Economic Corridor
Thailand– Cambodia– Vietnam
1,030 km
Source: Asian Development Bank
Land Transportation The nine highways linking the GMS intersect with the ‘EastWest Economic Corridor’, ‘North-South Economic Corridor’ and ‘Southern Economic Corridor’, and form the backbone of the GMS transportation infrastructure. These three major economic corridors will integrate infrastructure development with trade, investment and other economic opportunities of the GMS countries. The North-South Economic Corridor has been taking shape with the opening of the whole Kunming-Bangkok Highway in 2013, while China has also completed construction of an expressway in Guangxi
GMS Economic Corridors
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Cover Story Building upon existing infrastructure, China and Thailand are working to improve cross-border rail networks. Construction is scheduled to begin in October 2015 on a new dual-track railway that will connect Laem Chabang (Thailand’s largest port) with Nong Khai, an industrial border area near to the Laotian capital of Vientiane, and to run further to Kunming. A high-speed rail link between Kunming and Kolkata in India, crossing Myanmar and Bangladesh, is also under study. The China-led Asia Infrastructure Investment Bank (AIIB), with its focus primarily on infrastructure projects in Asia, is expected to play a constructive role in bridging the huge investment gap in funding ASEAN’s major cross-border infrastructure projects, such as the ASEAN Highway Network and Singapore-Kunming Rail Link. Sea Transportation Maritime co-operation is essential to building the 21st Century Maritime Silk Road. Currently, Vietnam and Thailand have the most developed seaport facilities among the GMS countries.
China and the maritime ASEAN countries are actively investing in their maritime infrastructure. The Philippines is promoting its Strong Republic Nautical Highway to enhance inter-island connectivity, while Indonesia announced its Maritime Axis policy doctrine in 2014. Besides, China has carried out a variety of ocean-related cooperations with Indonesia, Thailand, Malaysia, India and Sri Lanka, including a China-Malaysia joint port project in Malacca. Air Transportation Air connectivity is also key to completing a comprehensive sea, land and air integrated network. The ASEAN Open Skies policy, effective from 2015, is set to enhance regional trade by allowing airlines from ASEAN countries to fly freely throughout the region under a single, unified market. ASEAN has also recently concluded an exchange of fifth freedom air traffic rights between ASEAN countries and China, allowing Chinese carriers to use ASEAN gateway city airports to fly beyond.
Country
Deep Sea Port
TEU (millions)
Vietnam
Ho Chi Minh City
6.0
Vietnam
Da Nang
0.2
Within China, Kunming is seen to be the main airline transit point to ASEAN and South Asia, with more than half of its international flights destined for Southeast Asian countries. In total, Kunming has air routes to more than 20 cities in ASEAN and South Asian countries, including newly added direct flights to Koh Samui and Krabi Island in Thailand, and Siem Reap in Cambodia.
Vietnam
Hai Phong
1.0
Custom Reforms Fuel Cross-border Trade and Investment
Thailand
Laem Chabang
6.0
Thailand
Bangkok
1.5
Cambodia
Sihanoukville
0.4
Myanmar
Yangon
0.5
China
Fangcheng
0.3
Major Ports along Coastlines of GMS Countries
Source: Asian Development Bank, International Association of Ports and Harbors
Aside from infrastructure upgrade, GMS countries are keen to enhance regional connectivity through introducing one-stop customs and harmonised administrative measures across their borders. Thailand, for example, has introduced e-logistics at its borders with other GMS countries and a One Stop Export Service Centre to improve logistics efficiency. Laos and Vietnam have recently launched single-window inspection at their border checkpoints, while China and Thailand are also working to streamline their respective import regulations. In March 2015, China’s General Administration of Customs (GAC) announced it would introduce customs clearance integration reforms in provinces along the Silk Road Economic Belt. Under reforms that took effect in May 2015, companies in Chinese cities within the Economic Belt have the option to go through customs formalities (including declaration, tax payment and goods inspection) either through their local in-charge customs houses, or via port customs through which goods are either imported or exported. Accelerating Cross-border E-commerce
Major Ports along Coastlines of GMS Countries
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E-commerce has played an increasingly important role in stimulating international trade in recent years. With the ASEAN Economic Community (AEC) set for formal establishment by the end of 2015,
and the promotion of e-commerce as a means to expand trade under China’s Belt and Road Initiative, cross-border e-commerce is likely to further accelerate. China has been exploring ways to tap into the ASEAN e-commerce market. Yunnan and Guangxi have taken the lead in this, given their strategic locations and geographical proximity to mainland Southeast Asia. In 2013, the Chinese government designated Yunnan and Guangxi as the border financial comprehensive reform pilot areas, with the aim to facilitate trade and investment activities in the two provinces and to promote the use of the Renminbi in the China-Indochina Peninsula Economic Corridor and the BangladeshChina-India-Myanmar Economic Corridor. These reform measures help to reduce costs and facilitate regional trade. China has also raised the cash limit that individuals are allowed to carry when crossing the border from RMB20,000 to RMB200,000. At the seventh GMS Economic Corridors Forum held in June 2015, ministers from the six GMS countries endorsed the GMS crossborder e-commerce co-operation platform framework that China proposed, with a view to promoting cross-border trade and facilitate goods and commodity flows. Key areas of co-operation will cover co-operation of e-commerce enterprises, facilitation of cross-border e-commerce customs procedures, investment in cross-border e-commerce infrastructure, improvement of the e-commerce supporting services systems and building the capacity of e-commerce. At the China-ASEAN e-commerce summit held in Nanning in September 2015, it was announced that Nanning had become a statelevel cross-border e-commerce pilot city, with the establishment of the China-ASEAN e-commerce park and the participation of leading Chinese e-commerce companies such as Jingdong, Tencent, Alibaba and Meiliwan. To provide better services and facilitate trade flows, Guangxi will strengthen co-operation with ASEAN countries in customs, import/ export inspection and quarantine, as well as other information exchanges. According to the Regional Department of Commerce Office, Guangxi’s e-commerce trade value rose 65.9% to RMB210 billion in 2014 and increased further by 84.7% to RMB 194 billion in the first half of 2015.
Mainland e-commerce companies are also moving quickly to explore the new models of cross-border e-commerce with ASEAN. Tmall Global, China’s leading e-commerce platform, announced in 2015 that it would launch a partnership duty-free shop project with King Power, Thailand’s largest duty-free group. Under the agreement, Chinese tourists will be allowed to buy stored-value cards online prior to travelling abroad, and be able to collect the purchased items from five of King Power’s duty-free shops upon arrival in Thailand.
For more information on this topic or others, please visit HKTDC Research at http://www.hktdc.com/Research
An annual forum to build Sino-Australian business connections 8.00AM | FRIDAY 20 NOV 2015 JW MARRIOT HONG KONG BREAKFAST DIALOGUE China’s new Foreign Investment Laws: The changes, and the opportunities that may stem from it
PANEL SESSION I The political climate in China and how it may be affecting businesses
PANEL SESSION II The state of the China economy and the opportunities that may arise to foreign businesses
ACCESS CHINA FORUM LUNCHEON Professor the Honourable Bob Carr, Director of the Australia-China Relations Institute (ACRI), Foreign Minister of Australia (2012-2013)
POST-LUNCH COCKTAIL AT POOL LOUNGE Speakers from Baker & McKenzie, CLP, CLSA, King & Wood Mallesons, KPMG, National Australia Bank, Telstra and more.
Book now: bookings@austcham.com.hk or call +852 2522 5054 Visit: www.austcham.com.hk for more details.
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Hong Kong Focus
Belt and Road Explained China’s vision to replicate its growth model among other developing economies could lead to a new global order. - Nicholas Kwan HKTDC Director of Research
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hina’s new development initiative will potentially transform the economies along the Belt and Road route, according to HKTDC Director of Research, Nicholas Kwan, who explains the unique role Hong Kong will play.
For any country to develop economically, it needs the infrastructure, the capital, the technology and the market: China is offering itself as part of the solution. 10 • austcham news | issue 177
Initiative differ How does the Belt and Road mic reform from China’s previous econo programmes? and Road is a China I must emphasise that while the Belt tics and is very important initiative with Chinese characteris fined only to China. To be to the country, it must not be con d by the world. successful, it needs to be embrace important in the sense that For China itself, the initiative is very rs of opening and reform the country has come through yea China has opened primarily which, to date, has been one-sided. strialised countries, which along the coast and towards the indu not going to work as effectively worked for the last 30 years, but is in the coming years. just to open new markets, to The new “opening strategy” is not and resources. This has to sell products and to look for money ns also opening the mainland be a full-range opening , which mea up inland provinces along market to foreign products, opening to the West, but also to the with the coast, and opening not just absorbing foreign capital, China developing countries. Apart from “go out”. The new opening up also must allow its own capital to ducts, capital, technology, as must include two-way flows of pro “going out” is very different well as various other areas. So this from the previous model.
e revamp existing How will this initiativ cial systems? economic and finan that tive’s off icial document It is clear from the initia those t confined or limited to the Belt and Road is no l in initiative has to be globa old Silk Road areas. The perspective. at bal order comes in. Wh That is where the new glo c mi no eco ’s that the world is new, versus the old, is rld Wo d on Sec much since the picture has changed so s, on uti tit ins ral rld’s multilate War. But many of the wo y tar ne Mo al on , the Internati such as the World Bank y Organization, remain ver de Tra Fund, or the World ey Th . ago rs yea were 50 to 70 much the same as they to d something is needed an ge need time to chan the d an ad Ro e Belt and stimulate that change. Th re Investment Bank ctu tru ras China-led Asian Inf come into the picture.
For more information on this topic or others, please visit HKTDC Hong Kong Means Business at http://www.hktdc.com/HongKongMeansBusiness
What will the pr implementation ogramme’s successful the Belt and Roamean for economies along d?
There is no single str ategy or country th at can change the world, but I would say that this is Chin a’s first major attem to help change the pt world economic or der. There is certain some danger and m ly any risks in this new strategy. Many people are aware th at the Belt and Road area includes many developing countri es with high risks ec onomically, politica socially and in othe lly, r ways. But for any country to develop economically, it wo uld need the infrastr ucture, the capital, technology and the the market: China is of fering itself as part solution. of the If you look at the Be lt and Road area, th e population, GDP and trade covered are twice, or two-an da half times the size of China. So if just ha lf of that Belt and Ro ad area takes up th growth momentum is and repeats what Ch ina has done over th last 30 years, the wo e rld will be very diffe rent in the next 30 years.
What does Belt and Road mean to Hong Kong? There are challenges, but I see even mor e opportunities. The key to make the Initiative work is com munication, and that is where Hong Kong comes in. Hong Kon g’s traditional strength is in doing business with the major mar kets in Europe, America and Japan; in developed countries. Hon g Kong has a high concentration of multinationals from these countries. To get these multinationals to participate in the Belt and Road projects, it indirectly links their countries to the Belt and Road area. what is unique about Hong Kong is that there is nowhere in the Belt and Road area as internationally conn ected as Hong Kong. For Hong Kong, there is a huge benefit if we get it right, as the Belt and Road moves forward. China is unique, including its development model. The same is true for the rest of the Belt and Road countries, which have different cultures, religions and resources. We need an inter-mediator; Hong Kong is that inte r-mediator. Hong Kong is very good at providing plat forms for people to trade, invest, exchange views and ideas, and as a platform for technology trade. All these are basic ingredients for any economic development.
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CoverKong Hong StoryFocus
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Cover Story Macau Focus
Forging ahead towards Diversification of Leisure and Tourism Offerings: A Case Study from MCE
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acau is evolving to be the world center of tourism and leisure. Over the past few years, a number of entertainment resorts have been established in Macau, changing its landscape. Of which, Melco Crown Entertainment’s City of Dreams and its acclaimed The House of Dancing Water have been seen as the major catalyst to the evolvement of Macau’s tourism diversification. MCE has been one of the few gaming operators which have heavily invested in non-gaming entertainment attractions over the years, seeing an increasing weight of nongaming revenue to the total revenue. Its diversified and growing portfolio of entertainment offerings has allowed it to expand in line with the Central government’s national development pipeline to further enhance a sustainable business environment in Macau.
of Dancing Water, is a product of collaboration with Franco Dragone Entertainment Group. Since its debut in 2010, the world’s largest water-based extravaganza has attracted more than 3.2 million spectators worldwide over the course of more than 2,000 shows. Performed by a superb cast of approximately 80 international performers and 160 behind-the-scene heroes from 30 different countries, this world-class production has garnered a worldwide reputation as a must-see entertainment in Asia. Innovate with World-firsts Entertainment and Become a Strategic Catalyst for Economic Diversification Back in 2006, MCE had started to look beyond gaming and set its focus in creating innovative world-class offerings and bringing all-
MCE’s diversified portfolio includes the development of the City of Dreams dated back in 2009, where it later debuted a series of non-gaming entertainment including the acclaimed The House of Dancing Water. The flagship world-class integrated entertainment resort, City of Dreams, brings together a collection of worldrenowned hospitality and entertainment brands including Crown, Grand Hyatt, Hard Rock, and Dragone to create an exceptional experience that aims to appeal to a broad spectrum of visitors from around Asia and the world. A diverse range of entertainment offerings include the largest and most prestigious nightclub, Club Cubic; Asia’s first cabaret experience, TABOO; the biggest pool party in Asia, SPLASH; Macau's largest family entertainment center, Kids' City; and the more recently introduced dining and entertainment precinct, SOHO. The resort’s entertainment centerpiece, The House
AustCham Platinum Patrons
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around entertainment attractions to Macau. MCE saw enormous opportunities in Macau and its tremendous potential to become Asia’s leisure and entertainment hub. The Company envisioned developing new properties to attract a much broader group of leisure entertainment seekers who want emotionally engaging experiences they can share with friends and family. Being aware that a number of increasingly sophisticated Asian consumers are continually seeking a world-class, multi-faceted tourism experience, MCE has started its plan to further stimulate visitations to Macau through offering Asia’s next generation of world-leading, entertainment-driven non-gaming amenities. The planned Studio City project, a cinematically-themed integrated entertainment, retail and gaming resort, is slated to open on Oct 27, 2015. Studio City is set to be the most diversified entertainment offering yet experienced in Macau. The integrated resort is designed to capture the increasingly important mass market segment, with its destination theming, unique and innovative interactive attractions, including the world’s highest figure-8 Ferris wheel, the “Golden Reel”; an action-packed 4D flight simulation
ride by DC Comics, Batman Dark Flight; a family entertainment center for kids filled with Warner Bros.’ and DC Comics’ franchise characters and play-rides, Warner Bros. Fun Zone; a live magical experience designed, curated and hosted by acclaimed illusionist Franz Harary, The House of Magic; a 350,000-square-foot immersive retail entertainment environment merchandised and managed by Taubman Asia, The Boulevard; and bringing in Ibiza-style nightlife to Macau for the very first time through Pacha mega club, one of the world’s biggest names in nightclubs. The resort also houses an event center, a 5,000-seat, multi-purpose venue designed to host live concerts and award shows. Inaugural season of world-class acts will kick off with appearance of Madonna, Aaron Kwok, and Taiwan ‘Mando-Pop’ stars Show Lo, JJ Lin, A-Lin and Hebe Tien. As a result, Studio City is set to serve as an entertainment-inspired leisure destination to fulfil MCE’s aim to be a strategic catalyst in furthering Macau’s economic diversification. Studio City is also distinguished by Macau’s very first Hollywood film production – The Audition, a special short film set around a Studio City storyline, directed by Academy Award-winning film director, Martin Scorsese. It also marks the very first time that Hollywood megastars Robert De Niro, Leonardo DiCaprio, and Brad Pitt all joined hands to star in the same movie. Slated to premiere at Studio City’s grand opening event, The Audition will draw the world’s attention to Macau’s cultural and creative industries, putting Macau on the map. MCE is dedicated to further develop its non-gaming facilities. It is expected that continuous economic diversification in coming years will attract a broader range of tourists to Macau and redefine the cultural landscape. For more information, please visit http://www.melco-crown.com Source: Melco Crown Entertainment MCE is determined to anticipate the market with preciseness and to proactively react to any market circumstances, thereby allowing the company to tap growth opportunities, and to share the success with Macau through realizing a world-class, multifaceted tourism experience for global visitors.
issue 177 | austcham news
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Industry Insights
Things to know before you go Adapting is easier when you know what to expect Whether you are moving country for the first time, or as an experienced expat, it’s never too early to start planning. Lisa Johnson, Global Practice Leader, Consulting Services, at Crown World Mobility shares her top tips for preparing for an overseas move – from moving yourself, to bringing your entire family! games with fun facts about the new location. This will also help you prepare to go! 2. Talk through the different tasks and activities that you are normally responsible for and will be leaving behind. Help your spouse/partner make a plan for getting extra support where needed. 3. Make a list of activities/trips that you and your family will look forward to when you are back for home leave trips or when they are coming to visit. Don’t forget to hang the list in a prominent place and set some milestones so that everyone looks ahead.
Families – make sure everyone goes knowing 1. Children can have a hard time narrowing down what not to take with them. If your new house is smaller than at home, tape the new room measurements in your child’s home bedroom to help them see the new space available and decide what to pack. 2. As a family, make a list of activities to look forward to in the first three months, six months and year after your arrival. Plan visits from friends and family, take a vacation or go sightseeing in the host city and country. Don’t forget to hang the list in a prominent place to check-off along the way. 3. Be sure to include sentimental items in your air shipment or excess baggage to quickly make a temporary apartment or new home feel more like “home”. Perhaps a favorite decoration, photo or bedspread? 4. Turn finding out about the new culture into a regular family conversation at dinner. Give each other something to look out for with a cultural “lens” (for example, customer service, how local children interact, gender differences, socialising, formalities, meetings and student/teacher relationships). 5. Finally, make copies of all passports and credit card numbers – these should be readily available in case something gets lost or needs to be cancelled or replaced.
Split-families – not everyone is making the move 1. Make sure the whole family takes time to learn about the new location even if not everyone is moving. Take pictures of where you will be working and living so that your family at home can have a mental picture of where you are. Make trivia
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4. In the same way you would schedule regular meetings at work, schedule regular days or hours for Skype and FaceTime calls. This doesn’t mean that spontaneous calls, e-mails and messages won’t occur, but make this time sacred.
Millennials – being the new kid on the block The assignment support for early career opportunities is often minimal, but there are so many online resources available to get to know the local community. Take advantage of them. Before you go… 1. Sit down with your manager and ask for input on the many ways that this assignment will enhance your career path and share your personal goals. Set up a regularly monthly or bi-monthly check in, or at least for the first few months! 2. Find a mentor in your company who has international assignment experience. Ask for advice and see if they are happy to act as a resource during your assignment and as you get ready to come home. 3. It’s never too soon to plan for coming home. Before you go, make sure that HR and your manager are clear about your goals and that your own expectations are realistic. About the author: Lisa Johnson, Crown World Mobility Before joining Crown in 2012, Lisa had worked in the industry for 20 years. She is now the Global Practice Leader for Crown World Mobility's Consulting Services, supporting Crown’s Global Mobility program and policy design and enhancements. She also responsible for the company's quarterly Perspectives series. Her articles have been published in numerous industry magazines including Mobility, Compensation & Benefits Review, and HR Executive.
Chamber's Voice Private Luncheon with MTR’s Lincoln Leong Organised by the Chamber’s Construction, Property and Infrastructure Committee, a group of AustCham members met MTR’s CEO Lincoln Leong and Projects Director Philco Wong at a private luncheon in late October. AustCham would like to thank Australian Consul-General, Mr Paul Tighe, for his warm welcome at the Australian Residence.
Lachlan Evans of Commonwealth Bank of Australia and Austcham Chief Executive Drew Waters.
MTR’s CEO Lincoln Leong and Manuel Muñoz of Leighton Asia.
Hong Kong Immigrant Story AustCham Chairman Professor Richard Petty recently interviewed by The Hong Kong Economic and Trade Office, Sydney (HKETO) and shared his Hong Kong immigrant story. Watch the video at: https://www.youtube.com/watch?v=OLHcu5Crgdg
Andrew Whitford of Westpac, Richard Young of Macquarie and Peter Weiley of Advisian.
Private session with Professor Kerry Brown Professor Kerry Brown, Director of the China Studies Centre and Professor of Chinese Politics at the University of Sydney shared his insights with AustCham Platinum Patrons on what a sustainable Australian strategic narrative towards Greater China would look like at the Chamber’s private session “Australia and Greater China: The Search for a New Narrative beyond Fear and Greed”.
Chamber’s Voice – AustCham represents the views, values and interests of Members to government departments, private thinktanks, and other leading organisations in Hong Kong, Macau and Australia. The Chamber is an active member of the International Business Committee which meets regularly with the Chief Secretary and other senior Hong Kong Government officials. issue 177 | austcham news
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Cover Story in Finance Australians
T
he annual Australians in Finance cocktail this year supported by KPMG and Wells Fargo brings together senior Australian executives working in finance in Hong Kong and aims to encourage closer engagement with AustCham’s activities. Special thanks to sponsors:
AustCham Board Director; Finance, Legal & Tax Committee Chair Darren Bowdern.
John Rindlaub of event co-sponsor Wells Fargo. Sebastain Leotta and Chris Cowley of KPMG and Michael Tracey of Erste Group Bank AG.
AustCham Business Development Manager Jason Quinn with Bridget Debney of Wells Fargo and Robert Hinchcliffe of Golden Investment.
18 • austcham news | issue 177
Sean Rothsey of The Merkin Group, Ian Thomson of Thomson Fenwick Ltd and Dee Oh of Wells Fargo.
Paul Hart of Knight Frank and John Rindlaub of Wells Fargo.
Thierry Kun of Robert Walters and Luiz F. Da Silva Pedruco.
Allen Wong of CMA Australia and Tommy Ip of Holistic Business Consulting.
Scott Smith of Aurecon, Ian Robinson of Robinson Management and Taliessin Reaburn of Austrade.
Paula King of Ambition and Grant Dooley of Hastings Funds Management.
AustCham Board Director Paul Scroggie and Michael Camerlengo of KPMG.
John Barclay of Primasia and Donald Hess with Hwa-Ping Chang of Wells Fargo.
Doug Lecocq of Prudential, Jonathan Watkin of Asia First Financial Intelligence and Ian Thomson of Thomson Fenwick Ltd.
Jeff Hiew and Chloe Vuong of Commonwealth Bank of Australia and John Kondos of KPMG.
Sara Lynch of Minter Ellison, AustCham Board Director Fiona Nott, Gisella Bates of Toll and Geraldine Johns-Putra of Minter Ellison.
Darren McShane of MPFA, Michael Huddart of Manulife.
Lesley Hobbs of Advent Balance and Lucy Zheng of Financial Partners.
Angus Guthrie of CLP, AustCham Chief Executive Drew Waters and Augus Sexton of Ord Minnett.
issue 177 | austcham news
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AustCham Members in Macau
Aurecon Expands Operations to Macau
A
ustCham member, global engineering consultancy Aurecon has opened its first office in Macau recently, the latest addition to its growing network of international operations.
Apart from various Aurecon has been working with various clients in Macau including Galaxy, Melcro Crown, and Venetian Macau. The company has recently been closely involved in the development of the half-sized replica of the Eiffel Tower at the Parisian Macao resorts, which is currently under construction.
“Opening an office in Macau demonstrates Aurecon’s commitment to providing service excellence to our clients. Even though levels of construction activity are down slightly from the recent boom, the outlook is still good. Investors are taking a long-term approach and there is a strong pipeline of projects in the Built Environment and Infrastructure sectors,” said Ben Coxon, Region Manager for North Asia at Aurecon.
New Partnership to Boost Success
A
ristocrat Gaming is partnering with Macau Polytechnic Institute’s Gaming, Teaching and Research Centre (GTRC). They will be supplying gaming equipment such as machines and software to assist in the education of gaming staff and managers for Macau’s gaming venues. This partnership will provide training opportunity for the Macau people, and help enhance their careers as leaders in the Macau gaming market.
Taliessin Reaburn of Austrade, Vincent Kelly of Aristocrat, Patrick Liu of KPMG and AustCham Chief Executive Drew Waters.
Depute Chair of the Committee of Macau Members Patrick Liu introduces to guests about the committee.
The Chambers’ quarterly Macau Mingler was recently held at Sofitel Macau At Ponte 16.
Denise Tam of Galaxy Entertainment Group, Roger Chu of Wynn Macau, Colin Stagg of Aedas and Stuart Kennedy of Dallmeier.
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Thank you to the great support from our Committee of Macau Members as well as event sponsor:
Richard Straw of Galaxy Entertainment Group and Irene Tsang of SIRVA Relocations.
AustCham ANZ Mentor Program
A Chat with mentors and protégés David Lang ss 2015
Cla struction at - Mentor of ign and Con es D t, en d si - Vice Pre a Realty Walmart Asi My second book, 'The Witch of Wanchai', takes place in contemporary Hong Kong. It is about a serial killer who cannibalises Indonesian domestic helpers, and also is about the illegal jade and drug trade with Myanmar. I am currently writing a sequel to 'The Witch of Wanchai'. I have two interviews on You Tube where I talk about my writing and my inspiration for writing, and I also have blogs about writing on my website, www.davidharrislang-books.com, and as well on Facebook, David Harris Lang Books.
How long have you lived in Hong Kong? I have lived in Hong Kong for three and a half years.
Why did you join the Mentor Program? I believe that mentoring is a learning process for both the student and the mentor. In my professional life I see myself, more than anything, as a mentor to my staff. Hitting a wall in the corporate world is non-productive. It is the responsibility of senior management to help grow the careers of their people. They become more valuable to the company then. Also, my philosophy of life is that if you give, the universe will give more to you.
Where do you work? I am Vice President Design and Construction for Walmart Asia Realty. I was originally hired in the Asia Regional Office in Hong Kong, but am now seconded to the China office in Shenzhen. I therefore spend most of my week in China, and return to Hong Kong on the weekends.
Please share something you’ve learned thus far in the program. I have really enjoyed the program so far. I meet with my mentee (Jordan Campbell) every three weeks. I went through a program at Walmart called the Global Leadership Institute, and have used the workbook from that program as a format for our discussions. I believe that I have been able to give him guidance.
Tell us a bit about your writing and what about China/Hong Kong inspired your stories. Although I am an architect and have a responsible position in the corporate world, I also love to write books. My stories are set in Asia because that is the environment that I know best and have an affinity for. My family moved to Asia when I was six years old. My first book, 'The Journal of Rabbi Levy Wang', is set in 1937 China when the Japanese invaded. My father and grandfather in real life were fur traders then living in Tianjin. When the Japanese invaded they had to abandon everything, and I wrote a thriller wrapped in this setting, involving the Chinese Jews of Kaifeng and a fictional jewel that once was in Moses' staff.
For more information and details of AustCham Mentor Program, please contact AustCham Mentor Program Manager Mary Barbara Hanna at mentor@austcham.com.hk.
Program sponsor:
issue 177 | austcham news
• 21
Committees in Action
Small Business Corner
O
rganised by Business Technology Committee and Small Business Network, “How Technology Can Make SMEs Life Easier?” seminar invited Alan Lau of HKT and CoChair of Small Business Network, Mark Sims to talk about how technology can help organisation to achieve their goals, the advantages of using cloud office, as well as giving tips on communications and e-payment solutions.
Network sponsor:
Women in Business Network
P
resented by AustCham Women in Business Network and Construction, Property & Infrastructure Committee, the event (Building the Future through Innovation and Diversity) invited James MacKenzie, Director of Melco Crown and Chairman of ShineWing Australia and Pru Bennett, Blackrock’s Head Corporate Governance and Responsible Investment APAC, to share their experience and insights into regional innovation and governance driving gender diversity and opportunity for women in the corporate sector.
Network sponsors:
22 • austcham news | issue 177
AustCham Young Executives (AYE): T HE H Giving Back Through Reaching Out A gUroBupHK Annual Ga
don la Ba of ll the fu at e d t h e i young ex e gene ndraising r t i m e t o cutives ra e found ted thou f forts of h e l p w it h The H s and ation s u disad vanta to contin of dollars b that ue ged fo of ma ny CS youth of their wor r the k w it Hong R init h iative K s from ong - one AYE.
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issue 177 | austcham news
• 23
have some fun together. If you are non Mandarin speaker, please join us.
Membership eCard Benefit AustCham
ard Membership eC
Venue: Rm 603 , 6/F, Yau Sing Building, 120 -122 Wing Lok Street ,Sheung Wan, Hong Kong Availibility: You can choose on Tuesdays or Wedneday November or December 2015, You are free to join us two times for each member. Mandarin
Time: T: + 852 2982 0919 F: + 852 29820919 M: + 852 6117 9980 E: info@mandarinteacher.hk www.mandarinteacher.hk 7.00pm to 8:30pm - 1.5 hours class, followed by food and drinks
In November
wouldHK like to host a Mandarin speaking , Mandarin Teacher Free of charge: ( Limited to 15Mandarin people)Teacher HK (www.mandarinteacher.hk) evening gathering for our AustCham HK mentor and all the members. is offering AustCham members a FREE can and choose the date to(www.mandarinteacher.hk) first come first serve! , Shangri-LaYou Hotels Resorts the evening, participants will becourse. able toon get joining a feeling oftheir Mandarin language through trail Mandarin Class and Mandarin RSVP , We will send you aDuring confirmation email in discounts due had invited AustCham members to only join their
In October k Than ! you
Teacher HK
Wo hen hao
Business Travel Programme.
Mandarin for all
a (1.5 hours) of trial Mandarin class followed by some light food and wines or soft drinks. lessons. This is a good opportunity to meet and mix with members, learn something and after all,
(For AustCham member only ) to book Mandarin lesson discount below: Free trail lessons (included light food and drinks): The program offer room rates up to 10% discount Venue: Date: Any Tuesday or Wednesday throughout November 2015 off the participating hotel’s Best Available Ratesone to one tutor, Rm 603minimum , 6/F, Yau Sing30 Building, 120booking -122 Wing Lok Street ,Sheung Wan,20% Hong Kong HK$500 per hour hours you will receive off Time: Session A: 4:30 – 6:00pm at all brands ie. Shangri-La, Kerry, Hotel Jen and discount. Availibility: you Session B:25% 7:00off – 8:30pm Traders hotels and select resorts. They also offer40 free Wi-Fiminumum access in booking hours will receive discount. You can choose on Tuesdays or Wedneday November or December 2015, Venue: Room 603, 6/F, Yau Sing Building, You are free to join us two times for each member. all hotels, complimentary amenities such as PressReader service for 120-122 Wing Lok Street, Sheung Wan, Hong Kong clients to have unlimited access to over 2,000 digital newspapers and2-5 people Time: Small groups with and the costs to be shared. 7.00pm to 8:30pm - 1.5 hours class, followed by food and drinks magazines etc. HK $500 for 2 Students *On first-come-first-served basis, HK $550 for 3 Students Free ofRSVP charge:info@mandarinteacher.hk ( Limited to 15 people) please to secure your seats. For details on how to enroll this Business Travel Program You can choose the date to first come first serve! HK $600for for 4 Students RSVP only , We will send you a confirmation email in due course. your company, please contact Ms Jessie Law, Director of Business HK $650 for 5 Students In addition, Mandarin Teacher HK also offering up to 25% discount Development – Corporate of the Regional Sales Office via AustCham member only ) to book Mandarin lesson discount below: on (For joining their Mandarin lessons, for details, please contact Ms Tel: +852 2833 9409 or email at Jessie.law@shangri-la.com. For further information about our Mandarin teaching, please contact: HK$500 per hour one tutor, minimum Jessie Zhou via one Tel:to+852 2982 091930orhours booking you will receive 20% off Jessie Zhou. discount. email at info@mandarinteacher.hk For details, please visit the Shangri-La 40 hours minumum booking you will receive 25% off discount. M: +852 6117 9980 T: 29820919 F: 29820919 Business Travel Programme E : info@mandarinteacher.hk *Terms and condition apply. Small groups with 2-5 people and the costs to be shared. website: http://goo.gl/0bIXU6 HK $500 for 2benefits Students also apply www.mandarinteacher.hk *The above HK $550 for 3 Students toHKAustCham members’ family. $600 for 4 Students *Terms and conditions apply. have some fun together. If you are non Mandarin speaker, please join us.
HK $650 for 5 Students Mandarin Teacher
Member Classifieds
HK
For further information about our Mandarin please contact: Rm 603, 6/F, Yau Sing Building, 120 -122 Wing Lok Streetteaching, ,Sheung Wan, Hong Kong. Jessie Zhou. M: +852 6117 9980 T: 29820919 F: 29820919 E : info@mandarinteacher.hk www.mandarinteacher.hk
Mandarin Teacher HK Rm 603, 6/F, Yau Sing Building, 120 -122 Wing Lok Street ,Sheung Wan, Hong Kong.
THE PULSE
The Pulse is a collection of artists, technicians, programmers, thinkers and innovators, striving to bring a new perspective to visual entertainment (creative solutions). We are inventors, risk takers, explorers, creators and deliverers.
experiencethepulse.com
Australia Registered Tax Agent in Hong Kong
Holistic Business Consulting Pty Ltd. Chartered Accountant We specialise in tax planning for Australian Expatriates, tax returns preparations, private rulings for deductions. www.myoztax.com Call Tommy Ip on +852 69018136 or email: tommy@myoztax.com
24 • austcham news | issue 177
Corporate Profile
Compass Offices Level 19, Cheung Kong Center 2 Queens’s Road Central, Central, Hong Kong www.compassoffices.com
Headquartered in Hong Kong, Compass Offices is a global Serviced Office provider, creating workplace solutions for more than 6,000 people. Founded in 2009, we have grown to 40 centres, in 15 cities in 12 countries, making us the fastest growing Serviced Office provider in Asia. What are the main skills of your job? The skills for my role include the ability to energise the entire company with the sales function and aligning marketing with sales to give sustainable topline growth. I ensure we create a customer-driven culture, recruit and select the right sales talent, implement formal sales process and deliver the sales numbers. What does your company do really well? What Compass does really well is provide excellent customer service. You have a personal account manager throughout your contract, so you have the face-to-face dealing which really helps. We are also transparent with our pricing from the start. No surprises on your monthly invoice is very rare in our industry! That enables us to retain customers because they have that direct contact and know exactly what they are getting. It’s simple, but very effective. How would you describe your workplace and colleagues? Our CEO is an entrepreneur and he started Compass Offices because he wasn’t satisfied with his Serviced Office provider. Our culture is unique as all staff have an entrepreneurial spirit. We encourage staff to foster relationships with clients to create a sense of community and we aim to bring clients together to network – that is also an important aspect of life at Compass. What’s something most people don’t know about your company? We were founded in Hong Kong in 2009 and we are the largest Serviced Office Company in Hong Kong with 21 locations all over the city. Most people would automatically assume one of our competitors would have more sites because they are a well-known global name. We have now started to boast about our success as we open in more markets and we are the fastest growing Serviced Office provider in Asia.
Germer Kegge, Vice President of Global Sales and Marketing
What’s your company’s connection to Australia? We opened our first office in Sydney at 1 O’Connell Street in September 2014, in the heart of Sydney’s Central Business District overlooking Sydney Harbour. This was closely followed by 9 Castlereagh which is designed by renowned architect Harry Seidler. With two locations in Sydney it was then time to look at other cities in Australia to continue our expansion and offer our services across more locations. Due to our strong sales management we’ve seen immediate revenue growth and opened at the World Trade Centre earlier this year in Melbourne and will open at 570 Bourke Street in the coming weeks. We will have a new location opening in the New Year and are looking at other cities in Australia. We will open wherever our clients need us to be. What’s your favourite place to go on the week end? We are fortunate in Hong Kong to have great hikes, beaches and pleasant weather so while the sun is shining I spend as much of it outdoors as I can. Something that resonates with Australians I imagine! What’s your favourite place to eat lunch? I am usually in our offices in Central Building, The Centre, Cheung Kong or Nan Fung Tower in Sheung Wan so I’ll head to the L.Place or Landmark for lunch during the week. If it is a business lunch I really like Mott 32.
T
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. issue 177 | austcham news
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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
Kerrie Bowlen of Mayer Brown JSM, Justina Lau with David Bojan of HFS Asset Management.
Olivia Cheung and Amy Wong of KPMG.
SĂŠona Groves of Telstra and Michael Madigan.
Thank you to all the guests who came to our September Mix at Six at Frites Central. This event raised money for more than 40 cataract surgeries for The Fred Hollows Foundation within three hours. Special thanks to event sponsors:
Philip Pearce of Goodman Asia talks about their partnership with The Fred Hollows Foundation.
Justin Ferrier of Myo Capital and Hayden Flinn of King & Wood Mallesons.
Andrew Muller of Acuma HK Ltd and Darryl Pilgrim of AME Group.
John Benito of AusTTC and Benjamin Wong of Wells Fargo.
Lee Anderson of Lee People Asia, Trevor Benson of PCF Capital Group and Maryann Vale of PVH Far East Ltd.
Rory Healy of United Way Worldwide and Brigitte McNamara of Australian International School.
Ernest Lee, Nancy Wu and Elizabeth Gualtieri of Goodman Asia.
Mary McHale with Kimberley Cole of Thomson Reuters, Leonie Valentine of Google and Michael Allen of The Fred Hollows Foundation.
AustCham Chief Executive Drew Waters and Justin McMahon of Village Insurance.
Gordon Couch of HFS Asset Management, Maria Gomez of People & Projects Ltd and Tamara Gesmundo of NAB.
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Franz Donhauser of Island Shangri-La, Amanda Lin and Christoph Bauchingen.
Adam Kershaw and Jessica Maher.
Mary Massina and Becher Townshend.
Hosted by the Construction, Property and Infrastructure Committee, the October Mix at Six was held at Island Shangri-La’s Roof Garden and had attracted over 80 attendees on the day. Special thanks to event sponsors:
Michael Camerlengo of KPMG and Peter Weiley of Advisian.
Catherine Dai of Austrade and Alecs Chong.
Alex Katsanos of Advisian with Agita Orlovska.
Lilly Liu with Joanna Burger of Jones Lang LaSalle and Felicia Cheung of BTG Consulting.
Sherryn Hancock with Anita Wong of Aurecon.
Candy Lai of and Nicholas Mak of Arcadis.
Craig McGrory of Leighton Asia with AustCham Chief Executive Drew Waters.
Sean Pepper of TOR Investment Management Ltd, Robert Shaw with Jonas Tam of National Australia Bank.
Vice-Chair of CPI Committee Scott Smith welcomes all.
More coverage can be found on our online photo album: www.flickr.com/photos/austchamhongkong issue 177 | austcham news
• 27
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
www.crownrelo.com/hongkong