Access Asia Magazine Oct / Nov 2018: Australia - Singapore Business Connection

AUSTRALIA - SINGAPORE BUSINESS CONNECTION 2018

OCT / NOV

CONNECTING BUSINESSES CONNECTING BUSINESSES ACROSS ASIA AND BEYOND ACROSS ASIA AND BEYOND anz.com/institutional anz.com/institutional

A MESSAGE FROM THE

PRESIDENT

Greetings Members!

Great news. The constitutional changes that you voted for at our AGM in June have been approved without amendments by Singapore’s Registry of Societies. This means that future AustCham Boards will be periodically refreshed if individual Directors clock up 8 years service. Directors will have alternating two year election terms with a rotating half Board election each year.

These reforms, which were fully supported by your Board in the lead up to the AGM vote, position the Australian Chamber at the forefront of governance and Board renewal.

More great news! Chamber membership has cracked the 700 mark, recovering from a low of 540 in June last year. Our ability to contribute to the success of our members is tied to our relevance and responsiveness. As our membership strength continues to grow we will be in a position to broaden our suite of member services. This will be a focus of our Board’s strategic planning day in mid-November. Your thoughts and contributions are most welcome.

As membership continues to grow towards the 750 mark, one of your Board members should be thinking about his physical training regime. Having declared last year that he would do a cartwheel if numbers recovered to exceed 750, I’m sure he has provided everyone with the incentive we need to get there. Look out John!

Sales are strong for tickets to the Australia Day Ball 2019. The level of “of course I’m coming – just need to get around to organising friends” chat is extremely high. Although far too early to call, don’t put yourself at risk of a “sold-out” sticker. Get your tickets and sort it out with your friends later. All Aboard! This train won’t wait for stragglers.

We’ve had another pleasing initiative come to fruition. James Cook University brokered an opportunity with AustCham Singapore that will see a group of Kirwan High School students from Townsville get some intern experience. They will be helping our team with the Australia Day Ball.

You can tell from the content of this issue of Access Asia that our mission back to Australia via our 2018 Roadshow was highly successful. Once again, His Excellency Bruce Gosper was the star attraction, supported by our Senior Trade Commissioner (and AustCham Director) Prerana Mehta. Your Chamber’s Vice President Teena Pisarev flew in courtesy of IconSOC to provide practical experience and advice at the health sector meeting in Sydney and Melbourne. Our national sponsors ANZ and JCU were joined by city sponsors Lysaght in Townsville and Pitcher Partners in Perth. Other partners were Townsville Enterprise Limited and Asialink Business (Sydney, Melbourne and Perth).

If you combine the Roadshow acknowledgements with the Roadshow examples in this issue you will have some feel for the enormous management effort that underpins the success of programs like this. All thanks to Kate, Erica and the rest of your team back at the fort.

Ian Cummin President

BOARD MEMBERS Ian Cummin

Andrew Brown

Adam Lyle

John Dick

PRESIDENT BlueScope

HONORARY TREASURER ANZ Banking Group Limited

VICE PRESIDENT Padang & Co.

HONORARY SECRETARY Dentons Rodyk

Teena Pisarev

Prerana Mehta

VICE PRESIDENT Icon SOC Singapore

Australian Trade and Investment Commission Singapore

Scott Speedie

Fraser Thompson

Sean Straton

Ben Vella

Commonwealth Bank of Australia

UBS

Benjamin Tan

Qantas Airways

AlphaBeta

Telstra

Amber Williams NS BlueScope

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A MESSAGE FROM THE

EXECUTIVE DIRECTOR CONTENTS

Welcome to the October / November issue of Access Asia magazine. In this edition we are taking a look at the Singapore Australia relationship and the opportunities for Australian businesses to expand or enter the Asian market using Singapore as a strategic point of access.

We’ve just recently returned from the 2018 Roadshow, where our delegation spoke with different companies from a variety of industries and of varying size about the potential for growth in the market.

This was the 5th consecutive year for the Roadshow and it is clear that the knowledge about ASEAN and Asia is increasing, as is the level of interest for many companies. You can read more about our roadshow throughout this edition with various contributions from those involved including insights from our High Commissioner to Singapore Bruce Gosper, Senior Trade Commissioner Prerana Mehta and AustCham President Ian Cummin and who were our panellists at the events. There was a particular focus on health industries at events in Sydney and Melbourne and AustCham Vice President Teena Pisarev (CEO Icon SOC) joined us to lend her expertise in this field.

We are fast approaching the end of 2018, and planning is well underway for our 2019 ANZ Australia Day Ball. This year’s theme of The East Orient Express will bring our guest all aboard as we count down to Australia Day in Singapore. With the glitz and glamour of first-class rail travel through exotic lands as our inspiration, this Ball is shaping up to be a night of nights. As we go to print we are already exceeding ticket sales for this same time last year so reserve your table now to avoid missing out (email our events team events@austcham.org.sg ). We’ve also just had a sneak peek at the menu, specially prepared by the chefs at the Swissotel and with beef supplied by MLA (True Aussie Beef & Lamb), and while I don’t want to give away any secrets it is safe to say the food will not disappoint.

Before we get to Australia Day though we still have a few weeks left of 2018, and our legendary Xmas Drinks celebrations. The team have secured a first class venue – Bar Rouge at level 71 of the Swissotel – and there will be some stunning views over our gorgeous city as the sun sets. This event has sold out for the last three years because it is such a great way to celebrate the last 12 months and look forward on what is to come. Bring your friends and clients and celebrate with the Australian business community in Singapore. Register your interest on our website or by emailing events@austcham.org.sg.

Kate Baldock Executive Director

PLATINUM SPONSORS

SILVER SPONSORS

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AUSTRALIA & SINGAPORE: FORGING EVER CLOSER TIES THROUGH OUR CSP TRADE AGREEMENT, CSP & DEFENSE

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OPPORTUNITIES FOR AUSTRALIAN COMPANIES IN SINGAPORE

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BUSINESS BENEFIT FROM STRONG AUSTRALIA SINGAPORE TIES

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REPORT ON THE VISIT TO JCU BY HIS EXCELLENCY MR BRUCE GOSPER AUDTRALIAN HIGH COMMISSIONER & MEMBERS OF AUSTCHAM

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TOWNSVILLE: PORT EXPANSION

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THE ASEAN OPPORTUNITY CONTINUES TO EXCEL

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SINGAPORE-AUSTRALIA SMART CAPABILITIES FOR AN ERA OF COOPERATION

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A GUIDE TO SETTING UP A BUSINESS IN SINGAPORE

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2018 ANZ OPPORTUNITY ASIA REPORT EXECUTIVE SUMMARY & KEY FINDINGS

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GOOD SCIENCE = GREAT BUSINESS: AN FESTIVAL OF INNOVATIOIN IN SINGAPORE & ASEAN

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THE CSIRO LAUNCHES ITS ASEAN HUB IN SINGAPORE

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EVENT RECAP: AUSTRALIAN ROADSHOW 2018

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EVENT RECAP: WHY GOOD SCIENCE = GREAT BUSINESS FOR AUSTRALIASINGAPORE & ASEAN

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UPCOMING EVENTS & OUT & ABOUT

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NEW MEMBERS

41

MEMBERSHIP CARD OFFERS

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NEWSFLASH

BRONZE SPONSORS

FOREIGN POLICY UPDATES

AUSTRALIA & SINGAPORE:

FORGING EVER CLOSER TIES THROUGH OUR CSP TRADE AGREEMENT, CSP & DEFENSE

H.E. BRUCE GOSPER Australia’s High Commissioner to Singapore

Australia’s relationship with Singapore is one of our closest and most comprehensive. Bruce Gosper explains why the AustraliaSingapore Comprehensive Strategic Partnership (CSP) is so important to our future in our region.

Our bilateral relationship with Singapore is based on longstanding defence, education, political, trade, science and innovation, and tourism links, as well as our two countries’ similar strategic outlooks.

The 50th anniversary of Singapore’s independence, and the 50th anniversary of Australia-Singapore diplomatic relations, were celebrated in 2015. To mark these anniversaries, our countries signed a Joint Declaration on the Comprehensive Strategic Partnership (CSP) setting out a bold ten year plan to enhance our strategic, trade, economic and people to people links to drive further integration of our economies.

The CSP established four key pillars around which our relationship would be strengthened: economic and trade, defence, science and innovation collaboration, and, people to people links. Since 2015, we’ve seen freer movement for business people between our countries; mutual recognition of more of our universities’ qualifications; major new opportunities for the Singapore armed forces to train in Australia; new cyber and counter-terrorism cooperation; new innovation partnerships; fresh opportunities for our young people to study together and to work in each others’ countries.

Summit in March.

In July, we held the inaugural Australia-Singapore Infrastructure Investment Forum (ASIIF) which provided a platform for Australian, Singaporean and global infrastructure leaders to meet with key decision-makers from industry and government.

Throughout September, we held Good Science = Great Business 2018: An Australian Festival of innovation in Singapore and ASEAN to promote Australia’s science and research capability and investment opportunities in Singapore and in the region.

We also launched two cohorts of Australian Landing Pad companies during the year and Singapore-based regional offices for CSIRO and The Australian National University. In the defence space, we were pleased to progress the multi-billion dollar Singaporean military training initiative in Townsville and Shoalwater Bay. The spirit of progress is central to the CSP, which is a context for Australia and Singapore to explore areas where we can build further cooperation. Looking ahead, we aim to build further collaborations. Future areas of possible collaboration under the CSP include: • Continue working with Singapore to promote open trade values, standards and rules – with a focus the digital economy - in our region.

Australia’s Free Trade Agreement with Singapore – the SAFTA – is a pillar of our CSP. We’ve recently modernised components of the trade deal, creating new opportunities for Australian and Singaporean businesses of all sizes. For example, commitments on the free flow of data across borders, mean that start-up innovators from both countries can invest with confidence.

• Strengthening cybersecurity cooperation at the bilateral and regional levels.

There was more good news for freer trade in our region last month with Australia’s ratification of the Trans-Pacific Partnership (TPP-11) trade agreement. Australia joined Singapore, Japan, New Zealand, Canada and Mexico as the first group to ratify the TPP-11, meaning that the agreement can enter into force on 30 December. The Regional Comprehensive Economic Partnership (or RCEP) also contributes to our ultimate aim of a region-wide free trade area built on high standards of liberalisation and rules to promote growth.

• Building on the ASEAN-Australia Smart Cities Initiative and related strategies, host a Smart and Sustainable Future Cities Forum in 2019 to support smart cities development in ASEAN.

2018 has been a fantastic year for the Australia-Singapore relationship, bringing our nations ever closer together under the CSP, enhanced by Singapore’s chairmanship of ASEAN. We announced the ASEAN-Australia Digital Trade Standards and ASEAN-Australia Smart Cities initiatives at the Australia-ASEAN

Working together, our nations are so much more than the sum of their parts. Our partnership still has more to deliver. Our friendship is strong and it is important to reflect on how much more we will need each other in the years to come.

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• Building on the successful ASIIF, exploring further opportunities for our countries to help attract capital from finance hub Singapore into Indo-Pacific infrastructure.

• Deepen our collaboration in science and innovation in follow up to Good Science = Great Business 2018, including: research partnerships in areas of shared interest such as precision health; and by promoting Women in STEM.

INSIGHT

OPPORTUNITIES FOR AUSTRALIAN COMPANIES IN SINGAPORE

PRERANA MEHTA Senior Trade and Investment Commissioner A/g Singapore Australian Trade and Investment Commission

The Austcham Singapore roadshow provided a fantastic opportunity for Austrade to engage with SMEs in Australia that were considering entry into the market and the ASEAN region.

Singapore is an important economic partner both on the trade and investment front – it is Australia’s largest trading partner in ASEAN and seventh largest trading partner overall. Singapore’s economy is deeply digitalised and highly dependent on international trade, and given the current climate of economic uncertainty, Australian companies are perfectly positioned to take advantage of the opportunities the region presents.

Singapore continues to grow as an international finance and fund management hub, with the funds industry approaching$3 trillion under management. Many Investment decisions concerning Australia are being made through Singapore and this will continue as interest in areas outside of the more traditional property and infrastructure continues to grow.The new areas of focus are moving towards high tech industries, including agrifoodtech, medtech, cyber security and data, as well as renewables and health services.

Specific areas of opportunity for Australian companies include: Future Cities - smart city technology and urban solutions Singapore is seeking green building and smart city expertise and solutions, with a focus on universal design, sustainability (green building/precinct/infrastructure), and smart engineering (enhancing construction productivity) across the entire supply chain. Using technology to improve and integrate connectivity across all facets of urban mobile lifestyles is a key theme. The Building and Construction Authority has flagged that Singapore plans to build 10 integrated construction and prefabrication hubs to boost supply capabilities and capacity by 2020, and have committed over $26 billion for 2018 alone. The ASEAN Smart Cities initiatives in both Australia and Singapore also provide opportunities for Australian SMEs to leverage Singapore’s strengths to access the region Financial Services / Fintech - the financial services industry has seen solid growth, as witnessed at Singapore’s largest Fintech Festival 2018. With over 200 banks and 400 fintechs in the ecosystem, Singapore is a regional hub of choice for many global financial services firms. The sector facilitates the transfer of knowledge, processes, technology and skills between global, regional and domestic markets. An effective regulatory environment encourages fintech firms - particularly in mobile payments, AI, cyber security, data for KYC, API solutions, blockchain and lending platforms - to not only raise capital, but use Singapore as a test-bed for the development and cross-fertilisation of ideas.

This is supporting the opening of opportunities in aligned areas such as regtech and insurtech.

Food innovation and Agtech – Singapore imports around 90% of its food consumption and can be susceptible to global and regional food trends. It is looking to diversity its food supplies, especially for innovative, high quality, well priced, good tasting, clean ‘green’ products, and are interested to invest in order to manage food security risks. Singapore is looking to increase its domestic food production and is focusing on aquaculture, vertical farming and the use of technology to grow the sector. The presence of major global food and agriculture MNCs, as well as globally recognised R&D capability is helping to position Singapore as an agtech centre for the region. There are also opportunities in areas such as traceability and transport and logistics with expanded use of blockchain applications. There is a growing agfoodtech ecosystem in Singapore and a number of platforms through which to reach and collaborate such as the upcoming AgriFutures evokeAG in February 2019.

Health and medtech – There is strong demand for Australian capability in aged healthcare services, medtech and biotech, as well as targeted, skills-based training and research in niche ‘borderless’ education and institutional research. More than US$1.1 billion is spent on biomedical R&D in Singapore by Government or through the MNCs – with over 35% having an R&D centre. The Asian medtech market – diagnostic and medical equipment for precision care - is expected to grow to overtake the EU as the second largest market by 2020. E-health solutions and services for aged care in the areas of: in-home and community monitoring; home care tech platforms that seamlessly integrate with external systems, data analytics to provided holistic and personalised care; user interfaces for information dissemination. Medtech start-ups have great access to the growing precision health innovation ecosystem in Singapore.

Innovation – innovation, technology and digital solutions are key themes across all sectors and Singapore’s innovation ecosystem has climbed in the global ranks. The Australian Government’s Landing Pad provides the best option for Australian start-ups to scale into Singapore and into region through a 90 day program from our new WeWorks location. To date, the Singapore Landing Pad has received 25 companies and have raised over $1.5m.

We’d love to help you in your growth journey! Reach out to Austrade at www.austrade.gov.au

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FACTS AND FIGURES 6 COHORTS, 25 COMPANIES TOP SECTORS 36% are women participants Logistics

Primary Office Location Edutech

HR-tech

Medtech

ACT 4%

Other sectors: fintech, content/media, marketing, travel, transport, greentech, VR/AR, AI

92%

remain active in ASEAN

$1.5M+

capital raised

NSW 40%

WA 16%

VIC 40%

50+

collaboration agreements

10+

new paying customers

13 ASEAN Offices with Local Staff Singapore

Indonesia

Key Functions

Malaysia

BD / Sales Product dev

Philippines

Vietnam

Information based on public and Austrade information

Content Creation

BUSINESS BENEFIT FROM STRONG AUSTRALIA, SINGAPORE TIES

DARRYL DAISLEY Director Pitcher Partners

Singapore has long represented a low-risk entry point for Australian businesses into global markets, and the passing of the Trans Pacific Partnership by our Parliament on October 16 looks set to make that relationship even stronger.

Australia and Singapore are now two of the first six countries in the 11-nation agreement to ratify the agreement, known as the CPTPP, which is expected to reap an estimated AU$15.6 billion in net annual benefits to national income by 2030.

It is the latest step in a strong trade relationship between the Singapore and Australia that has spanned nearly six decades, according to Pitcher Partners Perth Managing Partner Leon Mok, who recently hosted Bruce Gosper, High Commissioner to Singapore, and an AustCham Singapore delegation at a recent trade event.

Mr Mok said that the Australian-Singaporean relationship had been a “beacon of strength” on a number of fronts, at a time when there was growing pressure on trade relationships. Whether it was the hot war with tariffs between the US and China or tensions with Indonesia, the disruption of normal trade relations made our stable Singaporean friendship even more valuable.

“The consistency of the relationship is a key element to regional stability and cooperation,” he said. “For Australian businesses, Singapore continues to be a landing pad of choice for expansion into the region.” Singapore is Australia’s largest trade and investment partner in the ASEAN region and the country’s seventh largest two-way trading partner overall. In 2016-17, Australian merchandise exports to Singapore were $A5.8 billion, while services were worth a further $5.36 billion — particularly in the education and professional services sector.

Investment by Singaporeans in this country is also substantial, with investment worth A$98.9 billion in 2016 making it sixth overall as a source of foreign investment in Australia.

For Australian businesses, Mr Mok said there were numerous opportunities in looking to Singapore as the business and logistics hub of the region, underpinned by a common business language, proximity and time zone.

“Singapore is an internationally recognised business centre with top tier financial and legal institutions, five hours from Perth and on the same time zone as Western Australia and China,” he said.

“Its transparency, adherence to the rule of law and highly educated workforce make it an ideal location from which Australian businesses can expand into the region.”

Given this, Mr Mok said, Singapore would not feel too difficult an entry point for Australian businesses — and many had made their mark in recent years.

“There will of course be some unique elements and cultural difference, but Singapore is such an international business hub friendly to foreign investment that Australian businesses generally find their feet pretty quickly,” he said.

The same could be said for Singaporean businesses looking south.

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>> BUSINESS BENEFIT FROM STRONG AUSTRALIA SINGAPORE TIES “Australia represents that rare mix of economic stability, low sovereign risk and growth potential that investors want,” Mr Mok said.

“The familiarity that many Singaporeans have with Australia and our proximity to Singapore make the path to investing into Australia that much easier.”

The benefits of the CPTPP go much further than SAFTA, according to Pitcher Partners’ Director of Customs, Fuel Tax and International Trade, Darryl Daisley.

With the ratification, duty reductions should begin to apply from 30 December 2018. “Australia is the sixth country to ratify the agreement, meaning it can now enter into force on 30 December this year,” Mr Daisley said.

“We join Canada, Japan, Mexico, New Zealand and Singapore as part of the first group to ratify.

“Our ratification means we are guaranteeing maximum benefits for our farmers and businesses, with the bonus of two tariff reductions within 3 days — one on 30 December and another on 1 January 2019.”

services as well as things like insurance of risks relating to maritime shipping and international commercial aviation and freight.

Coupled with the updated SAFTA, Australian business people will be able to enjoy longer lengths of stay for independent executives, contractual service suppliers and their families in Singapore, with the allowable timeframe growing from three months to two years.

Longer stays will able be possible for intra-corporate transferees and their families (up from two years to three years) and there will be more certainty on entry and length of stay for installers and servicers of machinery and equipment.

Finally, access to a help desk and streamlined processes to facilitate temporary entry and work permits also make it easier for Australian business people to work in Singapore.

“We are seeing considerable interest from professional services businesses looking to Singapore as the gateway for Australians to operate in Asia,” Mr Daisley said.

“The relationship with Singapore has long been a friendly and positive one. The CPTPP and the renewed SAFTA really underline how closely the two countries are aligned on free trade.”

Tariffs between Australia and Singapore were largely eliminated by SAFTA, but the CPTPP opens up other areas of free trade, Mr Daisley said.

Highlights from an Australian perspective include the option for Australian service businesses to engage more easily on the international stage.

Thank you to Pitcher Partners, our Perth City Sponsor for the 2018 Roadshow

This includes legal, architectural, engineering and surveying services, which will be legally guaranteed and enforceable.

Financial services companies can also now provide cross-border services such as investment advice and portfolio management

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REPORT ON THE VISIT TO JCU BY HIS EXCELLENCY MR BRUCE GOSPER AUSTRALIAN HIGH COMMISSIONER & MEMBERS OF AUSTCHAM Visit Date: 2 October 2018

PHILIP L. PEARCE Foundation Professor of Tourism James Cook University

CENTRAL STATEMENT His Excellency Mr Bruce Gosper, Australian High Commissioner, and members of AustCham visited James Cook University, Townsville, Australia in early October. They were provided with an interesting overview of some key parts of the University. On this visit the study areas were outside of the main science agendas for which JCU is so well known. The areas covered included Tourism, Nursing, Medical Science and Psychology. All areas of interest were well received and follow-up discussions hold the promise of developing multiple business and professional links. The meeting was chaired by the JCU Vice Chancellor and President, Professor Sandra Harding.

It was noted that Singapore Tourism has adopted the slogan Powered by Passion. In documenting the JCU work and positions, the multiple presenters took the opportunity to present their passion for their areas of interest. The presentations started with an account of tourism, underpinned by the belief that it has a role for building better lives in Australia and Singapore. Tourism, when done well, addresses sustainable development goals and the future of the tropics. A passion for connecting tourism to other sectors, and a passion for educating students and professionals for the future were also identified. Next, the work of staff and students in nursing and midwifery was outlined and the changing prominence of nurses in all facets of health care was stressed. As was the case with the next presentation by the Dean of Medicine, the power of James Cook University to teach students in a regional area so that they could then be comfortable with the lifestyle and friendships made in the non-urban environment was highlighted. This regional hold of students, and especially professional health workers, matters not just within regional Australia, but represents an issue of concern across ASEAN countries where Singapore plays a parallel role in being a hub of education. The final presentation on psychology stressed the trend in much psychology teaching towards clinical studies and consequential remedial services for those in need of assistance.

Additionally, some applied aspects of the subject in forensic, social and environmental management hold promise.

The research findings of these diverse areas were used to form the basis for questions, stimulate discussion and to raise opportunities for cooperation. Mr. Gosper and the AustCham delegation found some of these topics interesting and could see applications for these ideas and more work in the Singapore and Australian-Singapore joint context. For tourism alone, discussion centred on new markets for Singapore, what Singaporeans could find interesting in everyday

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Australia, and how businesses could be given advice to develop the research base into guided tours and tourism products.

In the medical field some powerful work on malaria, on stabilising patients losing blood in field situations, and preventing drownings were noted. Health care issues in Singapore’s high rise style of living were seen as topics where researchers in nursing sciences, psychology and medicine could make a contribution.

IDENTIFICATION OF WAYS TO WORK WITH AUSTCHAM AND THE HIGH COMMISSIONER JCU staff in all areas stated a number of ways they could work with individuals and businesses across the two countries. JCU provides options for Singapore based individuals to study degrees; in many instances they can do some part of their course in Singapore and come to Australia or do the full course ( e.g. in Business and Tourism and Psychology) in Singapore itself. We also have Masters level study.

In many circumstances, people can move between campus locations and study the same degree with the same subjects.

Further, the staff outlined their availability to provide TALKS and WORKSHOPS. These services could be on topics for the tourism and business community or social/health groups in Singapore as well as in Australia. In some circumstances, these could be fee-based and on other occasions the shorter seminars and talks could be offered as a contribution to our communities. Any of the content relating to recent work about medical topics, nursing, psychology and business/tourism would be possible. Additionally, and something we received some interest in was CONSULTING SERVICES and SPONSORED RESEARCH. JCU staff can partner with businesses to apply for Government funds to do research which meets mutual goals. Often these grant bodies provide dollar for dollar matching for studies.

All JCU staff and the Vice Chancellor expressed a keenness for further contact and follow-up queries from the High Commissioner or any members of the delegation.

JCU was a sponsor for the AustCham 2018 Roadshow and is AustCham Corporate Patron Member

TOWNSVILLE: PORT EXPANSION RANEE CROSBY Chief Executive Officer Townsville Port

Located in Townsville, the largest city in Northern Australia, sits one of Australia’s most diverse and strategically located seaports, and the largest container and automotive port in Northern Australia.

Townsville Port is the trade gateway for the region. It is linked by excellent rail and road connections to the North West Minerals Province – the second largest such province in the world, making it the country’s largest zinc, copper and lead port.

It is Australia’s largest sugar and molasses port and major exporter of agricultural produce from the nation’s largest northern irrigated cropping region. It is the country’s second largest live cattle export facility.

Townsville also happens to be a significant cruise port and strategic defence port where Australia’s largest Landing Helicopter Dock (LHD) vessels regularly visit the home of the country’s largest defence base. The Australia-Singapore Military Training Initiative will present significant opportunities for partnerships and industries in the region.

Supplying around 80% of Northern Australia’s population with essential everyday goods, Townsville Port is the hub for logistics in the region. The Port is connected to major highways through a designated 4,9000 hectare industrial zone, has existing rail links connecting across the State, and has the fastest direct container shipping services from Australia to Singapore and Shanghai.

The Port sees trade potential to treble over the next 30 years, driven by global demand for base minerals, for agricultural products including fresh fruits and vegetables, pulses, grains, meat, fertilisers, sugar and rice, and domestically for goods imported to support the region’s growing population.

The Port has a bold investment plan to capitalise on its strategic advantages and secure growth opportunities for the region. Most recently the Port completed a $200 million program of berth investments, including a new cruise terminal and a new container berth. The Port is currently procuring a new postpanamax ship-to-shore crane and developing additional container terminal areas, buoyed by a 47% increase in container trades last year.

Looking to the future, the Port has in its sights a 30-year, $1.6 billion expansion plan. In 2017, the Port secured Queensland and Australian Government

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>> TOWNSVILLE: PORT EXPANSION approvals for the full port expansion project to proceed. This plan will see the creation of 6 new berths, 150 hectares of land reclamation and channel widening and deepening to cater for growth.

The first stage of the expansion, a $193 million channel widening, is fully funded and now getting underway. The project will see widening of the sea channels to accommodate larger commercial, cruise and defence ships. Currently vessels entering the Port are limited to 238 meters in length, but on completion vessels 300 metres in length will be readily accommodated. The project will also deliver a new 60-hectare land reclamation area to cater for trade growth.

The project involves best-practice methodologies and has a comprehensive framework in place for environmental monitoring and reporting with robust controls to ensure the significant environmental values of the area are safeguarded.

Townsville is a classical city-port where the urban centre developed around, and because of, the establishment of the Port. To celebrate this partnership, the Port is revitalising 10-hectares of waterfront lands it owns in the heart of the Central Business District. Two catalyst developments include a Marine Tourism Precinct incorporating a ferry terminal, transit centre, hotel and retail uses, and a world-class Marine Science Precinct incorporating the headquarters for the Great Barrier Reef Marine Park Authority and collaborations of the world’s leading marine science education and research institutes.

All of this alongside the world’s largest living coral reef aquarium, ReefHQ, which is the land-based showcase of the world’s largest natural wonder, the Great Barrier Reef.

More information about the Port of Townsville can be found on our website www.townsvilleport.com.au

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THE ASEAN OPPORTUNITY CONTINUES TO EXCEL ASEAN has emerged as the world’s hub for trade and manufacturing over the past two decades and the region continues to stand out for its significant potential and compelling business opportunities.

KHOON GOH Head of Asia Research ANZ

The region’s potential is supported by a thriving young population, growing middle class and rising demand growth across various sectors - yet the scale of the ASEAN opportunity is still often underestimated by Australian business.

“ASEAN provides a solid consumption base for Australia’s goods and services and is slowly developing into a region with a skilled workforce in which to invest.”

ASEAN and Australia share a dynamic and complementary relationship. ASEAN as a grouping is Australia’s third-biggest trading partner after China and Europe. With strong demand growth, rising standards of living and a sizable infrastructure deficit, the potential for Australia-ASEAN trade and investment is expected to exceed $US210 billion by 2025.

WHY ASEAN STANDS OUT ASEAN is set to become the fourth-largest market after the EU, US and China by 2030. Its population, currently 650 million, is growing by seven million a year and nominal GDP has reached $US2.7 trillion - a near doubling in the past decade.

The median age of ASEAN’s population is well below other bigger economies like China and Korea, which are increasingly grappling with an older population.

Among the developing Asian economies, ASEAN’s median age comes close to India’s – a country well recognised as having a substantial ‘demographic dividend’.

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>> THE ASEAN OPPORTUNITY TO EXCEL

INFRASTRUCTURE ASEAN’s increasing infrastructure gap driven by rapid urbanisation and increasing middle class population creates immense opportunities.

Countries like Indonesia and Malaysia have some of the fastest urbanisation rates in ASEAN. Apart from transport infrastructure, Australian companies can support such infrastructure priorities across services including e-government, traffic management, education and healthcare.

READ MORE: Asia’s $100bn Emerging Opportunity https://bluenotes.anz.com/posts/2018/02/Asias-A110bn-emerging-opportunity The size of the Asian Opportunity has Doubled https://bluenotes.anz.com/posts/2017/10/The-size-of-the-Asian-opportunity-has-doubled

ANZ was a sponsor for the AustCham 2018 Roadshow and is AustCham Corporate Patron Member

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SINGAPORE - AUSTRALIA: SMART CAPABILITIES FOR AN ERA OF COOPERATION MUKUND NARAYANAMURTI CEO Asialink Business

With its excellent connectivity, world-class infrastructure, strategic location and sophisticated labour force, Singapore has long been a beacon for Australian businesses and investors going into the region.

Now, as both countries step-up their cooperation to a new level - supported by the comprehensive strategic partnership and recently revised free trade agreement - the opportunities for Australian businesses are evolving in dynamic ways.

A recent series of forums – held in partnership between AustCham Singapore, Austrade and Asialink Business – took a deep-dive into what this new era of cooperation means. Drawing on contemporary examples from diverse sectors, the forums explored key developments in the business landscape, as well as how to build the capabilities needed for success.

Conducted as a roadshow around Australia in October, events took place in Sydney, Melbourne, and Perth. They featured distinguished speakers and panellists including the Australian High Commissioner to Singapore, Bruce Gosper, the Singaporean High Commissioner to Australia, Kwok Fook Seng, and senior representatives from Austrade, AustCham Singapore and the Asialink Group.

‘SMART’ STRENGTHS: LEVERAGING ESTABLISHED EXPERTISE Singapore is consistently ranked by the World Bank as the world’s easiest place to establish a business. Its economic and regulatory affairs are highly transparent and reliable and are supported by a probusiness operating environment.

An increasing number of Australian fintech companies are looking to explore these opportunities, in line with projections the Australian fintech sector will grow from $250 million in 2015 to a $4 billion industry by 2020, according to Fintech Australia.

This fact is not lost on Australian businesses, many of which have made Singapore their long-term base in the region. Banks like ANZ and infrastructure firms such as Lend Lease, for example, have both had a long-term presence in Singapore for more than forty years.

For instance, in March this year, the Victorian Government led a delegation to one of the region’s largest financial conferences, Money 20/20 Asia held in Singapore. The mission helped connect local fintech companies with key decision makers in Singapore and across the Asia-Pacific.

Australia has developed a strong reputation for its capabilities in the services sector with significant potential to grow the export of a range of services.

Participants, such as Victorian fintech co-working space Blockchain Centre, said the mission opened doors to markets across Asia, as well as sparking interest from potential investors. (Source: TradeVic)

Take financial services, which has long been a focus of the SingaporeAustralia business relationship.

However, Victoria understands that to extract maximum value from these missions, it is essential to be well prepared. The Victorian participants in Money 20/20 Asia undertook detailed pre-departure training delivered by Asialink Business, helping them to build the knowledge and skills needed to succeed in this dynamic sector. It will be equally important for mission participants to follow through post-mission by nurturing relationships developed, deepening their understanding of local market needs, and assessing their go-tomarket strategy.

Participants in the October business forums discussed the dynamic and evolving opportunities for Australian fintech businesses, which build on Australia’s established financial services expertise.

Singapore is widely recognised as a regional and global fintech hub and fintech start-ups from around the world are being actively courted to bring their innovation to local banks.

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>> SINGAPORE - AUSTRALIA : SMART CAPABILITIES FOR AN ERA OF COOPERATION SMART OPPORTUNITIES: GOOD SCIENCE = GREAT BUSINESS Singapore’s vibrant fintech ecosystem is not surprising, given the city-state’s status as the world’s ‘smartest city.’

Singapore is recognised on a number of global indices for its strong integration of internet of things (IoT) technologies, strong government policy (the ‘Smart Nation’ platform) and initiatives across mobility, health, safety and productivity.

Innovation has become an increasing focus of Australia’s business ties.

At the October business forums, High Commissioner Bruce Gosper explained why “good science equals great business.”

The Australian High Commission in Singapore, together with CSIRO and Austrade, are leading efforts to encourage scientists, researchers, and business leaders from Australia and Singapore to forge new links.

In September, the ‘Australian Festival of Innovation’ showcased Australian science and innovation and raised awareness of the opportunity in Singapore and Southeast Asia.

Medtech offers an exciting case study. Demographic and cultural changes in Singapore and across the region are creating new demands for innovative and quality healthcare that leverages digital solutions – Singapore’s Smart Nation initiative, for example, includes a focus on utilising technology to make healthcare more proactive.

A number of Australian medtech companies participated in the Australian Festival of Innovation in September, as part of a mission led by industry growth centre MTPConnect and Austrade. Participants represented organisations specialising in pharmaceutical products such as vaccines and injectables, precision analytics of genome data, medical devices, mobile apps to motivate people to take their medication in a timely manner, and software solutions to maintain health records. There was also a strong contingent of leaders of accelerators, industry bodies and universities on the mission.

Collectively, the mission participants had the opportunity to network with public and private health institutions, university researchers, multinational companies, venture capitalists, and regulators. In particular, the visit to Exploit Technologies Pte Ltd, (an arm of A*STAR), was invaluable to learn about leading Singaporean medtech start-ups and their focus on deep tech and scientific problems, their high quality market development and growth strategies, and see first-hand the exceptional technical and commercial skills of their founders. If nothing else, it highlighted the quality of the competition the Australian medtech sector faces in the region.

This mission built on existing engagement by Australia healthcare companies in Singapore. Queensland based Icon Group is already making inroads in Singapore. Founded in 2015 via the acquisition of several long-established Australian healthcare businesses, Icon is the largest dedicated, multi-discipline cancer-care provider in Australia, with 1,700 employees delivering one million patient interactions per year.

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In 2016, Icon Group purchased Singapore Oncology Consultants (SOC) - forming Icon SOC – with the aim of launching the business into Southeast Asia through Singapore. This innovation-based partnership is proving to be a win-win, with Icon gaining SOC’s excellent local talent and local expertise, and SOC becoming part of Icon’s exceptional knowledge-sharing oncology ecosystem. (Source: ASEAN Now) SMART LANDINGS: PLUGGING INTO THE INNOVATION ECOSYSTEM Given the scale and pace of change, it can be challenging for newcomers to understand Singapore’s start-up landscape and innovation ecosystem.

During the October business forums, participants heard from Austrade on how the Singapore Landing Pad established by the Australian Government is helping Australian start-ups to understand the domestic innovation ecosystem more effectively.

At the Landing Pad, companies are provided with a workspace for up to 90 days, during which they are mentored and given access to a business network and tailored business development assistance.

The Landing Pad is helping Australian start-ups to tap into Singapore’s innovation infrastructure and commercialise new ideas. Since its launch in 2017, it has supported around 25 start-ups, many of which have gone on to establish offices, projects and pilots in the region.

(Source: Austrade) SMART SPRINGBOARDS: LAUNCHING TO ASIA & BEYOND The case studies discussed during the October business forums all demonstrate how Singapore is proving to be an invaluable stepping stone into Southeast Asia and further afield. As ASEAN focusses on strengthening its economic and political connectivity - including through the ASEAN Economic Community - this trend is set to continue.

Singapore as a springboard into global markets is also a common theme of an Asialink Business report, ASEAN Rising, released in June.

Natural health company Blackmores is one of the case studies cited in the report. Blackmores has operated in Singapore since 1995.

In 2014, it designated Singapore as its Asia Pacific headquarters.

In addition to being able to access benefits under the Singapore Australia FTA (SAFTA), Singapore offered an ideal hub due to its excellent infrastructure, good governance, skilled work force and business-friendly regulatory regime.

Importantly, the opportunities to launch through Singapore to other markets in ASEAN and the wider Indo-Pacific are not contained to city-based Australian organisations.

Earlier this year, in partnership with the NSW Department of Industry, Asialink Business provided training to businesses across rural New South Wales, who were all keen to expand their commercial links with

>> SINGAPORE - AUSTRALIA : SMART CAPABILITIES FOR AN ERA OF COOPERATION Singapore, ASEAN and beyond. Exporters from locations as diverse as Wagga Wagga, Byron Bay, Newcastle, Wollongong and Tamworth, all participated in this targeted capability development.

SMART CAPABILITIES: PARTNERSHIPS FOR THE ERA OF COOPERATION Extensive experience working with Australian organisations demonstrates that to unlock the evolving opportunities in Singapore and the region, many businesses need to invest in developing new capabilities, deep market insights and long-term partnerships. This applies equally to newer opportunities in sectors such as medtech and fintech, and sectors of established strengths like professional services, tourism, education, agribusiness, infrastructure, and logistics.

Asialink Business, through its efforts to build an Asia capable Australian workforce, is helping organisations in all sectors to build the skills, knowledge and networks needed to succeed in competitive global markets, including Singapore.

In 2017, for example, with support from government and the private sector, we assisted over 8000 individual leaders, business and organisations to develop these capabilities and insights and maximise their cross-border opportunities.

This included a focus not only on outbound opportunities, but – as highlighted through workshops we delivered for the City of Sydney

– on helping businesses to refine their skills in pitching to Asian investors and securing international capital.

Partnerships are at the core of these solutions.

Asialink Business is fortunate to leverage the Asialink Group’s longterm history and deep commitment to Australia’s engagement in Asia, spanning nearly three decades.

As the October business forums in partnership with Austrade and AustCham Singapore demonstrated, this deep collaboration with business, industry, the education sector and government is the key to unlocking Australia and Singapore’s new age of cooperation.

Mukund Narayanamurti is the CEO of Asialink Business, Australia’s National Centre for Asia Capability. Asialink Business partners with organisations in all sectors of the economy, to develop skills, market insights and networks to succeed in Asian markets.

More information on doing business with Singapore is available in the Asialink Business Singapore Country Starter Pack

asialinkbusiness.com.au/research-resources/singapore-countrystarter-pack

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A GUIDE TO SETTING UP A BUSINESS IN SINGAPORE CHOICE OF ENTITY There are 3 main types of entities that companies generally choose from in establishing a presence in Singapore.

HUGH DARWELL Director, Business Development Vistra Singapore

Representative Office This is a very restrictive way of entering the Singapore market as the activities of the Representative Office and its employees are restricted to information gathering about the market to pass back to head office. Any opportunities that may arise in the Singapore market need to be pursued between the customer and head office with the people on the ground in Singapore having nothing to do with the sale.

Private Limited Company A Pte Limited company is by far the most common structure through which to operate in Singapore. There are a number of requirements, most notably that a Singapore resident Director and Company Secretary are required for each company.

These people Must be natural persons (no Corporate Directors) • Must be either Singaporean or Permanent Resident of Singapore; or • If a foreigner holds an Employment Pass, that person can be a Director of the Company named in the EP Setting up a company in Singapore is very quick – can usually be achieved within a couple of hours, subject to satisfactory due diligence checks to satisfy the Singapore legislation relating to Anti Money Laundering and the Prevention of the Financing of Terrorism.

Branch A branch is an extension of the parent entity and is often set up after consultation with tax advisors in the parent’s home jurisdiction. A Singapore resident branch representative is required (similar to a Director for a Singapore company). To register the branch with ACRA, the Parent company details – shareholders, Directors and last annual audited financial statements must be lodged. Each year, annual accounts to be filed include the branch accounts as well as the audited accounts of the parent A branch in Singapore is not eligible for the benefits of any of Singapore’s double tax treaties, as a branch is not a tax resident of Singapore GENERAL CORPORATE LAW There are annual statutory reporting requirements. Annual accounts (see audit requirements below) must be prepared each year and laid before the AGM. The first AGM must be held within 18 months of incorporation – and in this respect, the first accounting period can be more than one year as long as the accounts are prepared in time for the AGM to be held in this period. Subsequent AGMs must be held annually, not later than 15 months of the last AGM. The year end of a company is flexible it is chosen by the company and can be subsequently changed.

A company only needs to be audited if it is not a small company. A company is a small company if 2 of the following 3 tests are satisfied: • Turnover of $10 million or less;

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>> A GUIDE TO SETTING UP A BUSINESS IN SINGAPORE A company only needs to be audited if it is not a small company. A company is a small company if 2 of the following 3 tests are satisfied: • Turnover of $10 million or less; • Assets of $10 million or less; • 50 or less full time employees at year end These tests are conducted on a worldwide basis, so if the Singapore company is part of an international group, the total group activities are taken into account.

An annual tax return is required to be lodged within 11 months of the company’s year end. The headline Singapore company tax rate is 17%.

However, there is a concessional regime on the first SGD300,000 of income so that the effective tax rate is around 6.80%. For companies in their initial 3 years of operation, this rate is reduced to around 4.50% on the first SGD300,000 of taxable income (subject to certain conditions). If the turnover of a company is more than SGD1,000,000 per annum, Goods and Services Tax (GST) registration is required.

EMPLOYING PERSONNEL Singaporeans and Permanent Residents of Singapore can be employed without any Government approval. The company needs to pay Central Provident Fund contributions in respect of those employees.

If a company would like to employ a foreigner, an Employment Pass is required which is obtained by submitting an application to the Ministry of Manpower (MoM). In this application, details of the employees past employment, academic record and employment contract are required. In some cases, the MoM may ask a company to explain why they are employing this particular candidate rather than a Singaporean.

Singapore has in place a Fair Consideration Framework (FCF) which encourages companies to consider Singaporeans for job vacancies that arise. If a company employs more than 10 people and wants to employ a foreigner on a salary of less than $15,000 a month, there is a requirement under the FCF that the job be advertised on the Singapore Jobs Bank website for 14 days before an Employment Pass application can be made.

Vistra is a leading corporate services provider employing over 4,500 professionals in 46 countries around the world. Vistra has an office in Singapore as well as offices around the Asia Pacific region. We have helped many companies with their set up in Singapore and with their ongoing financial administration. We operate across all industries Fintech, trading companies, F&B, education, construction, consulting to name a few. Vistra also has a funds administration and private client business operating in Singapore.

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2018 ANZ OPPORTUNITY ASIA REPORT EXECUTIVE SUMMARY & KEY FINDINGS DAVID GREEN Chief Executive Officer, Singapore and Head of South East Asia, India & Middle East ANZ

EXECUTIVE SUMMARY The 2018 ANZ Opportunity Asia Report is a survey of 1,000 Australian business decision makers across a variety of industries.

Our ANZ International Business Development Team has produced this fourth consecutive report with research partner EY Sweeney and it indicates a positive outlook for Australian businesses already doing business with Asia and those intending to.

This report highlights a number of trends, which indicate the next stage of growth in Asia and we hope it reveals opportunities that can help grow your business. We investigate key industries in Australia that can scale to meet demand from a growing middle class population all across Asia.

We have combined the trends from this survey with overall business activity recorded by the Australian Bureau of Statistics and the opportunities are compelling. If businesses in Australia acted on their intention to do business with Asia, an additional $393 billion of revenue could flow into Australia.

Capturing this revenue requires a significant increase in workforce.

Survey results indicate that Australian businesses have collectively hired approximately 889,000 staff in Australia to support their Asia operations in the last three years and could potentially hire approximately 927,000 over the next three years to keep up with demand.

From the businesses surveyed that are already active in Asia, 61% expect to expand their operations. A third of those companies make more than 40% of their total revenue from Asia. Although China is a dominant feature of industry trade statistics, 67% of businesses surveyed in this report are also trading with ASEAN countries.

MARK HAND Group Executie, Business & Private Banking ANZ Australia

exporting to Asia now exporting services.

We have included case studies throughout the report that delve into the challenges that Australian businesses face at various stages of international expansion. The key challenges include market research, ecommerce, exports and logistics, along with the key steps required to protect brand and intellectual property in Asian markets.

This report also covers the disruptive power of ecommerce; the way it is transforming logistics and the impact it is having on traditional retail. Around half of businesses surveyed are using ecommerce to sell their products, however, only 24% of small businesses are doing so. We explore how this ‘digital key’ can unlock revenue growth.

We invite you to discover the key findings this report has highlighted based on the insights from 1,000 Australian business decision makers. We encourage you to share it with your network to continue the conversation and identify the growth trends that your business can capitalise on.

KEY FINDINGS The annual 2018 ANZ Opportunity Asia Report, now in its fourth year, is a survey of 1,000 Australian business decision makers across a variety of industries. It provides a positive outlook for Australian organisations already doing business with or in Asia and those intending to. The following key findings stand out as highlights in this year’s survey. $393 billion - approximately $393 billion of additional revenue could flow into Australia if businesses act on their plans to expand into Asia.

Several industry sectors stand out in this report as growth opportunities in Asia including the export of food, beverages and premium consumer goods, along with healthcare, education and tourism. The number of visits and spending by tourists from Asia has reached record levels over the last 12 months. Visitors are experiencing ‘Brand Australia’ first hand and sharing their stories widely with friends and family on social media in Asia.

889,000 - Australian businesses collectively hired approximately 889k staff to support their Asia business activities in the past three years.

We investigate the growth opportunity in service industries, which currently employ the majority of the workforce in Australia; however official statistics indicate we are underweight compared to other nations when exporting services. Our survey results indicate the situation may be improving with 35% of businesses

½ - Around half of exporters surveyed are engaging in ecommerce

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927,000 - Australian businesses are looking to collectively hire approximately 927k staff in the next three years to support future demand in Asia.

to sell their products, however only 24% of small business exporters are doing so.

61% of surveyed businesses active in Asia expect to expand their

>> 2018 ANZ OPPORTUNITY ASIA REPORT EXECUTIVE SUMMARY & KEY FINDINGS operations in the next three years.

67% of surveyed businesses active in Asia trade with ASEAN countries, and 63% with Greater China.

1 in 3 surveyed businesses active in Asia make more than 40% of their total revenue there.

35% of exporters to Asia surveyed are exporting services (some are also exporting products).

43% of businesses surveyed found the amount of capital required to establish Asian operations was higher than expected.

84% of exporters surveyed are distributing physical goods, with 53% of those utilising distribution centres/hubs in Asia, most often in China, Hong Kong or Singapore.

GOOD SCIENCE = GREAT BUSINESS: AN FESTIVAL OF INNOVATION IN SINGAPORE & ASEAN 27 September 2018, Singapore

BRIAN SCHMIDT Vice Chancellor Australia National University (ANU)

KEYNOTE ADDRESS The Australian National University (ANU) has a very long-standing and deep relationship with Singapore and our partners here. So longstanding that the first visit of a Singaporean Prime Minister to ANU was the visit of the late Mr Lee Kuan Yew in 1965. In recognition of the esteem in which we hold Singapore, we awarded Mr Lee an honorary doctorate.

Today, we count over 1,500 Singaporeans amongst our alumni community. Our Singaporean community of staff and students on campus numbers over 300. And with our research collaborators, partner institutions and alumni, science and innovation plays a big role in our relationship with Singapore. Our top 5 co-publishing fields with Singaporean institutions are all in the medical, biological, and physical sciences.

We are delighted to advance our engagement with Singapore with our new ANU Southeast Asia Liaison Office here in the heart of the Asia Pacific region. It will bring our overseas office network to three in Washington DC, Beijing, and now Singapore.

I believe there is no greater opportunity than now, for science to work together with industry to solve the complex challenges of our future.

We are entering what seems to be, for me, the most interesting time for Humanity since WWII and the early Cold War era. The world today is facing many challenges. Big world issues facing us now include global health, environment, food and water supplies, conflicts, economic issues, cyber security, politics, and big research ideas.

But we are also lucky enough to live in a time of hope and progress.

We live in a time where human longevity has moved quickly up to greater than 71 years. Where the fraction of the world in poverty is dropping precipitously. We live in a time where every human on planet earth will be able to engage with the rest of the world interconnected by the Internet, by mass transit and by trade. And where we are ever more able to precisely manipulate life through our understanding of the genome. We have developed the beginnings of artificial intelligence, recording of data on unimaginable scales, and new technologies that in practice should do much of the hard work we all do - and give us more leisure time. These are the rewards of the collective ingenuity of the human race.

But humanity is affecting our planet - we live in the Anthropocene age, where our use of water and resources is not sustainable over

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the next human life-time; where the rapid rise of prosperity for all especially amongst some of the haves - has not occurred at the same rate as in the past 100 years; where democracies struggle against the rise of populism and the abundance of information - some true and some false; and autocracies are able to double down with AI to control the masses with power and information; where everyone finally has a voice - but it is hard to hear what is important with deafening noise. We live in a time of change.

This gives us huge opportunities and exposes us to huge losses if we fail. The solutions to the problems involve technology and ideas not yet invented - they will require marrying social sciences with technology - and they will need to bring along and include the entire world.

At The Australian National University we are just beginning to look at some of these challenges and how we harness them. In artificial intelligence, we have brought world renowned technologist Distinguished Professor Genevieve Bell in to lead our new Autonomy, Agency and Assurance Institute that will look at all aspects of AI: policy, social and legal complexities, integration and also the development of new technology and what it is capable of. In energy, we awarded our 2018 Grand Challenges funding of $10 million to a team that will undertake research in delivering Zero-Carbon Energy to the Asia Pacific, through the development of a renewable energy export industry. In health, this year ANU welcomed Professor Mark Kendall, who is expanding his series of wearable medical devices that will help people better understand their health conditions and allow doctors to improve health outcomes. Last year’s ANU Grand Challenge team won the award for their project: Your Health in Your Hands: Future Personalised Medical Technologies for a Sustainable and Effective Healthcare. This project aims to revolutionise personalised medicine through wearable sensor technologies with genomics, tailored to individual need, irrespective of geographical location or social circumstances.

Of course, we are working across so many other areas; such as advancing science communication in the 21st century, investigating governance arrangements that will improve the lives of Indigenous Australians, creating sustainable farming practices to help build the agricultural industry’s resilience to the impacts of climate change, providing solutions to the challenges of cybersecurity and so many more. Just as we see advances in technology and innovation, so too are we seeing social, political, economic and strategic shifts. Political

>> GOOD SCIENCE = GREAT BUSINESS AN FESTIVAL OF INNOVATION IN SINGAPORE & ASEAN leaders are grappling with a changing geopolitical landscape, trade wars and disruptive technologies.

can work alongside us in imagining new solutions to the challenges and opportunities that are growing here.

As Australia’s only national university we have a unique and important role, and this forms a key part of it. We contribute to informed national public debate and foster engagement with communities. And we collaborate with the private sector to drive innovation. In all of this, our international collaboration is essential, connecting Australia to the world and to cutting-edge ideas and technologies wherever they may be. We cannot do this alone.

Which is why I am so pleased to be opening of our Southeast Asia Liaison Office here in Singapore. The office will ensure we enhance our efforts as Australia’s most international university, and drive international collaboration to increase research quality and impact.

The office will interlink research and academic partnerships, give our valued alumni and community a central hub and assist with philanthropy. It will foster the development of partnerships and collaboration with higher education and research institutions, policy think tanks, government agencies, businesses and other interested parties based in the region.

Our greatest power comes from the partnerships we make, the synergy that comes from working with our collaborators. It is that start-up mentality that we need to foster together. Open and collaborative, diverse and inclusive - the teams that identify the needs and drive the solutions of the future will fail fast and work outside of existing boundaries to find the answers they need. I can see great minds coming together from across research institutions, industry leaders and government to form agile teams to delve into specific challenges.

There never has been a more important time for us to work together.

We believe that it is our partners in the Asia Pacific region who will be at the forefront of many advancements. In many areas of technology, countries in the Asia Pacific are leading the world through digital disruption and implementation of new technologies like Blockchain.

Sadly, sometimes it is the greatest need that drives the greatest innovations. Natural disasters and widespread health problems, have accelerated the need to find creative solutions to highly complex challenges. Of course ANU has always seen itself as having a role to play in helping the region find solutions and advance. The Research School of Pacific Studies at ANU was one of our founding research areas and over the years we have continued to invest in our research capacity and expertise.

And in the words of John F Kennedy “If not us, who? If not now, when?”

The Australian High Commission in Singapore, together with Festival Partners CSIRO and Austrade held the Australian Festival of Innovation in Singapore and ASEAN throughout the month of September. The Australian National University was Platinum Sponsors for the Festival, which brought together top scientists and business leaders, to promote innovation collaboration between Australia and Singapore, and into Southeast Asia, and showcase Australian innovation and science capability. ANU Vice-Chancellor, Professor Brian Schmidt, delivered the Festival Keynote Address, which has been adapted for Access Asia.

Welcome ANU, our newest AustCham Gold Corporate Member

It may interest you to know that ANU Academics have supported the development of constitutions in many countries in the Pacific including Fiji, Nauru and the Cook Islands. APEC was an idea that was first developed by one of our researchers, Professor Peter Drysdale, whose work has been fundamental in bringing prosperity and global cooperation to the region. More recently we have been working with future leaders in Myanmar to help bring about democratic change.

And we will continue to invest in this region and seek partners who

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THE CSIRO LAUNCHES ITS ASEAN HUB IN SINGAPORE LIZA NOONAN ASEAN Director CSIRO

Australia’s national science agency, the Commonwealth Scientific and Industrial Research Organisation (CSIRO) formally launched its ASEAN presence on 17 September 2018 at an event held in Singapore. The agency plays a critical role in the Australian Government’s commitment to collaboration with ASEAN members to enhance regional security and prosperity.

The CSIRO is behind some of Australia’s greatest inventions including Fast WLAN – the technology behind WiFi, extended wear contact lenses, polymer banknotes, Relenza flu treatment, Aeroguard and in more recent times Australia’s first carbon fibre and hydrogen fuelled transport demonstrations.

This announcement of CSIRO’s ASEAN Hub coincided with Singapore-headquartered investment company, Temasek, becoming the third largest investor in the $232 million CSIRO Innovation Fund, managed by Main Sequence Ventures.

Main Sequence Ventures invests in high growth, innovative businesses engaged in the translation of research generated in the Australian publicly funded research sector, including the CSIRO and universities. This investment by Temasek is testament not just to international confidence in Australia’s growing innovation economy and the returns it will deliver, but to the power of science to deliver real solutions to the world’s problems.

At the launch event were a number of new Australian start-ups from the Main Sequence Ventures portfoio including telehealth platform Coviu, experiential learning provider Intersective and AI Healthcare company Maxwell Plus. Graduates of the CSIRO powered deep tech accelerator, ON, also connected with guests at the launch including biofuel developers Folear, solar-forecasting technology Cloud180CAM, and gut-health diagnostic tool NoisyGuts.

Speaking at the launch, CSIRO Chief Executive Dr Larry Marshall said CSIRO would strengthen the bridge between the Australian and ASEAN innovation ecosystems based on new and existing long-term partnerships.

From left: Ms Kate Duff (Deputy Australian High Commissioner to Singapore), Dr Larry Marshall (CEO, CSIRO), Professor Russell Gruen (Executive Director, NTU Institute of Health Technologies), and Dr Cheong Wei Yang (Deputy CEO, National Research Foundation).

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>> THE CSIRO LAUNCHES IT ASEAN HUB IN SINGAPORE

Singapore is an innovation beacon in the ASEAN region, and CSIRO is looking forward to building on their valued partnerships including Nanyang Technology University, the National University of Singapore and A*STAR. In an interconnected world facing rapid disruption, the regional opportunity is for each country to play to their respective strengths, creating additional new value through collaboration than any individual nation could have achieved alone.

It has become too challenging for innovation to be conducted alone. It will take global collaboration to deliver the moonshots like transforming human health through precision medicine; or sustainable management of our environment despite unprecedented industrial growth; or making real progress towards meeting the United Nations’ Sustainable Development Goals.

•

Access to national and international best practices for the development of agricultural innovation systems.

VIETNAM CSIRO’s activities in Vietnam include: strategic foresighting scenarios Vietnam’s digital economy over the next 20 years and a partnership with Vietnam National Space Centre to use CSIRO’s DataCube service to build data sets and algorithms for environmental management.

To find out more about CSIRO collaboration opportunities, contact ASEAN@csiro.au or visit www.csiro.au

The ASEAN Hub in Singapore will anchor CSIRO’s ASEAN operations, supported by staff in Vietnam and Indonesia.

CSIRO’S ACTIVE COLLABORATIONS IN ASEAN SINGAPORE Australia and Singapore have signed a Comprehensive Strategic Partnership (CSP) agreement setting out a blueprint for bilateral cooperation in science and innovation.

As part of Australia’s commitment to build stronger innovation links and facilitate mutual learning and economic growth, CSIRO is cooperating with Singapore’s A*STAR for High Performance Computing (HPC) and the creation of an Asia-Pacific HPC Research Cloud; seeding research collaborations with NTU in additive manufacturing, health, and sustainable solutions and with NUS in resource deployment and optimisation in disaster management scenarios.

INDONESIA CSIRO and the Australian Government has been working with the Government of Indonesia to promote economic development, poverty reduction and increased food security among 10,000 East Indonesian small holder famers.

•

Financial assistance to share and spread investment risks through matching co-investment.

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EVENT RECAP

AUSTRALIAN ROADSHOW 2018 KATE BALDOCK Executive Director AustCham Singapore

From the 9th to 16th October 2018 we embarked on the 5th Australian Roadshow with our panel of experts: • Bruce Gosper, Australia’s High Commissioner to Singapore • Prerana Mehta, Senior Trade Commissioner • Ian Cummin, AustCham President • Teena Pisarev, AustCham Vice President who joined us in Melbourne and Sydney The key themes of this year’s Roadshow were the strong relationship between Singapore and Australia, through the lens of Singapore as chair of ASEAN and the developing strategic relationship between Australia and the region.

The strong relationship between Australia and Singapore provides business a low risk entry point into one of the fastest growing regions in the world. Singapore is a business and logistics hub for the South East Asia and Pacific region and Australian businesses are well placed to offer the innovation and skills needed to address the opportunities and challenges in these markets. Comprising 10 member countries, ASEAN is the sixth largest economy with a GDP of US$2,551 billion and a population of 635 million in 2016. Singapore provides Australian small and medium sized businesses across a range of sectors with a solid foundation on which to build a market entry strategy into the region.

Our sponsors for this year’s Roadshow were ANZ and James Cook University, with Benjamin Smith, ANZ’s Singapore based Head of Australia and New Zealand Desk and Dr Dale Anderson, Deputy Vice Chancellor and Head of James Cook University’s Singapore Campus accompanying the delegation for the majority of the events.

This year we also had two city sponsors; Lysaght in Townsville where QLD Retail Manager Jason Lashmar joined the activities and Pitcher Partners in Perth. We finished the program with a client function at the new Pitcher Partners offices with views over Elizabeth Quay, which provided a great backdrop to the discussions on trade opportunities and global geopolitical tensions led by their resident trade expert Daryl Daisley. Who you can read more from on page 9.

The 2018 Roadshow was once again a great success, with many of the businesses we spoke to really engaged in Singapore and ASEAN and aware of the growing opportunities for the region. We spoke to a lot of companies either considering expanding their operations here or looking to enter the market.

AustCham Singapore gratefully acknowledges the Roadshow’s two national sponsors, ANZ and James Cook University. We would also like to thank our city sponsors Lysaght and Pitcher Partners. Australia’s High Commissioner to Singapore, Bruce Gosper and the Senior Trade Commissioner Prerana Mehta both dedicated close to two weeks of their time to participate in the extensive presentation and travel program. Our President Ian Cummin and Vice President Teena Pisarev also.

ACCESSASIA | WWW.AUSTCHAM.ORG.SG 29

>> AUSTRALIAN ROADSHOW 2018

#1 Townsville 02 August Breakfast with the Singapore Economic Development Advisory Committee and Townsville Enterprise Ltd Board Presentations from James Cook University Roundtable and campus tour Presentations on world leading research conducted by JCU in Townsville and in Singapore. Tour of new campus facilities.

ANZ Roundtable Roundtable discussion with ANZ clients looking at the opportunities for Townsville and North QLD region given inward investment by Singapore and discussion around the trade links into the region.

Tour of the Port of Townsville Approvals have been granted for large scale expansion plans. Discussion about the opportunities coming from inbound investment and outbound goods as well as defence.

Townsville Enterprise Ltd Networking Function Keynote address from High Commissioner Bruce Gosper and networking with local businesses.

#2 Sydney 04 August Breakfast with ANZ clients Discussion on ASEAN region and using Singapore as a hub to enter the market. Sector by sector opportunities for FMCG, Health and professional services.

Asialink Business Lunch Senior business roundtable hosted by Penny Burtt, Group CEO Asialink.

30 ACCESSASIA | WWW.AUSTCHAM.ORG.SG

>> AUSTRALIAN ROADSHOW 2018

#3 Melbourne 05 August ANZ Breakfast Roundtable Discussion with businesses in the health care sector (primary health, aged care and other specialisations). Opportunities in Singapore and across the region with aging population and capacity building in emerging markets the focal point.

Asialink Business Lunch Panel discussion moderated by Asialink Business CEO Mukund Narayanamurti. Keynote presentations by Singapore’s High Commissioner to Australia Mr Kwok Fook Seng and Australia’s High Commissioner to Singapore Mr Bruce Gosper

#4 Perth 08 August Asialink Business Lunch Panel discussion with WA based businesses looking to grow in the ASEAN region. Presentations from panellists on the benefits of Singapore as an entry point to the regional markets.

ANZ Roundtable Held in conjunction with WA Chamber of Commerce, round table with their members and ANZ clients looking at how WA can better connect with Singapore and ASEAN, in areas other than mining and associated services.

Pitcher Partners Networking Event Client networking event with a presentation from High Commissioner Bruce Gosper and Pitcher Partners International Trade Expert Darryl Daisley.

ACCESSASIA | WWW.AUSTCHAM.ORG.SG 31

WHY GOOD SCIENCE = GREAT BUSINESS FOR AUSTRALIA, SINGAPORE & ASEAN AUSTRALIAN HIGH COMMISSION IN SINGAPORE

In September, the Australian High Commission in Singapore held a festival promoting Australia’s science and research capability and opportunities in ASEAN. Here are the highlights from this month-long celebration of great Australian science.

Australia is internationally known for its landscape and lifestyle, but less well known for the excellence of our science, innovation and ingenuity. Australia has produced fifteen Nobel Laureates, eleven in science or medicine. Australian scientists are responsible for transformative innovations including the fast WLAN technology behind WiFi, polymer banknotes, hydrogen-fuelled transport, ultrasound scanners, the cochlear implant and life-saving vaccines, to name a few.

Singapore and ASEAN; and, provide a platform for Australian research institutions and businesses to begin to explore that opportunity.

Holding the Festival in Singapore provided an opportunity for Australian research institutions and companies to take advantage of the tremendous things happening here on innovation. Singapore rose to fifth place in this year’s Global Innovation Index and is home to multinational corporations that invest heavily in innovation.

Australia punches above its weight in scientific achievement, discoveries and high-quality research. We wanted to share that story, and that’s why the Australian Government spent September promoting Australian science at the inaugural Good Science = Great Business 2018 Festival.

The Festival hosted around 4,000 people at 42 events including lectures, expert panels, and alumni networking.

Topics ranged from a how-to briefing for researchers, to technology investment trends, healthcare and medtech, science communication, food security, innovation in logistics, space science, commercialisation, blockchain, 3D-printing, the Internet of Things, digital health, forensic science, sustainability in the Tropics, and nuclear science.

The aim of Good Science = Great Business 2018 was to bring top Australian and Singapore scientists, business leaders and innovative companies to Singapore to: showcase Australian science in Singapore; raise awareness of the opportunity in

The Festival saw the launch of CSIRO’s ASEAN Hub and The Australian National University’s Southeast Asia Liaison Office in Singapore. James Cook University also launched its Tropical Futures Institute in Singapore, a first Australian

Australia’s Minister for Industry, Science and Technology, The Hon Karen Andrews MP, at the launch of James Cook University’s Tropical Futures Institute.

32 ACCESSASIA | WWW.AUSTCHAM.ORG.SG

High Commissioner Bruce Gosper, ANSTO CEO Dr Adi Paterson and National Research Foundation CEO Professor Low Teck Seng launch the Festival with representatives from Festival Sponsors, The Australian National University, James Cook University and Rio Tinto.

research facility in Singapore. The sixth Australian Landing Pad cohort of Australian market-ready start-ups and scale-ups also commenced during the Festival.

CSIRO and Austrade supported Australian start-ups and research teams to visit Singapore for the Singapore Week of Innovation and Technology (SWITCH) as part of the Festival. Austrade also joined with MTP Connect to bring a delegation of Australian medtech companies to Singapore. The Festival culminated in a Gala Dinner which was jointly delivered by AustCham Singapore and brought together around 400 representatives from science, business and government from both countries.

For more information about the Festival, contact Public-Affairs-SING@dfat.gov.au.

Nobel Laureate and ANU Vice-Chancellor Professor Brian Schmidt at the Gala Dinner.

The Women in Innovation Expert Panel and Networking Event held as part of the Festival.

CSIRO CEO Dr Larry Marshall at the CSIRO ASEAN Hub Launch

CSIRO’s Liza Noonan and Dr Larry Marshall with Australian start-ups at the SWITCH expo

Australian research teams present their innovations at the TechInnovation expo

Attendees at the Festival’s Stargazing and Space Science event look to the skies

ACCESSASIA | WWW.AUSTCHAM.ORG.SG 33

UPCOMING EVENTS

UPCOMING EVENTS To find out more about our events, visit our website at WWW.AUSTCHAM.ORG.SG

NOVEMBER 2018 Panel Discussion

Wednesday 28 November 2018 Panel Discussion DIversity & Inclusion

The panel discussion will focus on Diversity & Inclusion in the workplace and implementing diversity policies in organisations.

EVENT SPONSOR

DECEMBER 2018 Networking Event

Thursday 6 December 2018 Xmas Drinks

A Christmas celebration which also provides the opportunity for you to network within the Australian business community and connect with other AustCham members.

EVENT SPONSOR

JANUARY 2019 The best way to celebrate Australia Day in Singapore

Friday 25 January 2019 ANZ Australia Day Ball 2019

In 2019 we will be all aboard the East Orient Express to Australia Day, with a glamorous night evoking the experience of first class rail journeys through the East Orient in a bygone era. Tickets for the event are on sale now. More details coming soon. Don’t miss the best countdown to Australia Day in Singapore.

EVENT SPONSOR

SPECIAL THANKS

Airline Sponsor: Qantas, Gold Sponsor: AIS, JCU, Icon SOC and Telstra Auction Sponsor: Eastern Carpets and Helping Hand Group, Photography & Logistics: Allied Pickford, Wine Sponsor: Wolf Blass, Gourmet Sponsor: MLA, Beer Sponsor: 6DM and Digital Community Partner: Expat Choice and Expat Living

34 ACCESSASIA | WWW.AUSTCHAM.ORG.SG

OUT & ABOUT

OUT & ABOUT EXCELLENCE IN LEADERS MICHAEL BYRNES, MANAGING DIRECTOR OF TOLL GROUP

SEPTEMBER 2018

In this discussion, Michael Byrne, Managing Director of global logistics company Toll Group, shared insights into how Toll Group is driving the largest ever transformation program in the company’s 130 year history to adapt to this new era. Special thanks to our event sponsor Toll Group.

Wednesday 12 September 2018 EVENT SPONSOR

AS PART OF

1

2

3

4

1.

Michael Byrne

2.

Juliette Say and Michael Byrne

3.

David Green, Tony Lombardo, Michael Byrne, H.E. Bruce Gosper

5

4.

Nash Mesquita-Mendes, Madura Senadeera, Grace Manahan and Sujata Tiwari

5.

Vincent Phang, Damain Bishop, Jory Anvas and Sasha Vasilijkovic

ACCESSASIA | WWW.AUSTCHAM.ORG.SG 35

OUT & ABOUT

SEPTEMBER 2018

Business Connects September

AustCham members and guests enjoyed an evening of networking, free flow beer, wine and canapes. With thanks to event sponsor James Cook University Singapore and venue partner Origins Bar Singapore.

Wednesday 19 September 2018

EVENT SPONSOR

VENUE PARTNER

1

2

3

1.

2.

PJ Roberts, Tim Raes, Belinda Fraser, James Burgmann and Nicholas Whalan

4

3.

Dale Anderson, Scott Speedie and Heather Honerkamp

4.

Gerry MaCrossan, Pita Haspels, Kenneth Koh and Takashi Kawada

Hugh Darwell, Scott Speedie, Alistair Green, Adam Martin and Bipan Kapur

ACCESSASIA | WWW.AUSTCHAM.ORG.SG 37

AustCham Membership Tiers

HALF YEAR MEMBERSHIP

CORPORATE Tiers

Benefits

Gold Corporate

+ 15 nominees

For Australian flagship businesses The Gold Corporate Membership is for key Australian businesses who have a strong presence in Singapore and the region. Members include Australian flagship companies that have a strong international profile. Gold Corporate membership offers the opportunity to raise your profile and showcase a company with a strong relationship with the Chamber and the Australian business community in Singapore.

Cost

+ Exclusive invitations to private events

+ 15 complimentary tickets to business events

per year

+ Pre sale registration to signature events

+ Logo on front of our website

+ Corporate branding on tables at events when a complete table is purchased

+ Company write up on our Gold Corporate member page

+ Special discount on advertising

+ Feature company announcement on AustCham

+ Connect with key industry leaders, professionals, and business partners

• Membership is transferrable

website and social media

• Members gain visibility through our AustCham network and listed on our member’s online business directory

+ Inclusion in thank you emails or advertisements across AustCham communication platforms

• Opportunity to increase visibility through our advertising channels including AustCham website, E-Newsletter and Access Asia Magazine

AustCham Membership Card Programme

• Early access to event registration and opportunity to reach out and interact with key industry leaders, professionals, and business partners

The AustCham Membership Card Programme is an opportunity to offer discounts and promotions on services and/or retail products to other AustCham members.

Just flash your AustCham membership card and enjoy the savings!

• Opportunity to share company announcements on AustCham communication platforms

Offers will be featured on our AustCham website, E-Newsletter and Access Asia magazine.

Corporate Plus

+ 5 nominees

+ Special discount on advertising

For large Australian and international organisations with an Australian connection

+ 5 complimentary tickets to business events

+ Connect with key industry leaders, professionals, and business partners

The Corporate Plus Membership is designed for large international organisations established in Singapore that have an Australian connection. It is also for companies seeking to conduct businesses in Singapore and looking for greater involvement with the Australian business community. The membership provides added value, offerings opportunities to meet and exchange ideas, develop business relationships and increase your network and contacts.

Contact us for more information

+ Feature company announcement on AustCham

Contact us for more e information

website and social media

+ Exclusive invitations to private events + Corporate branding on tables at events when a complete table is purchased

• Membership is transferrable • Members gain visibility through our AustCham network and listed on our member’s online business directory

AustCham Membership Card Programme

• Opportunity to increase visibility through our advertising channels including AustCham website, E-Newsletter and Access Asia Magazine

The AustCham Membership Card Programme is an opportunity to offer discounts and promotions on services and/or retail products to other AustCham members.

Just flash your AustCham membership card and enjoy the savings!

• Early access to event registration and opportunity to reach out and interact with key industry leaders, professionals, and business partners

Offers will be featured on our AustCham website, E-Newsletter and Access Asia magazine

• Opportunity to share company announcements on AustCham communication platforms

Corporate Enterprise

For small and medium enterprises or entrepreneurs The Corporate Enterprise Membership is ideal for professional individuals who are conducting business or seeking to conduct business in Singapore. As a member, we offer you tailored benefits to meet your individual needs and strengthen your network.

+ Connect with the Australian business community

+ Member rates for events

+ Connect with key industry leaders, professionals, and business partners

+ Exclusive member only events

+ Boost your networks

+ Special discounts on advertising

• Membership is transferrable • Members gain visibility through our AustCham network and listed on our member’s online business directory • Opportunity to increase visibility through our advertising channels including AustCham website, E-Newsletter and Access Asia Magazine • Early access to event registration and opportunity to reach out and interact with key industry leaders, professionals, and business partners • Opportunity to share company announcements on AustCham communication platforms

38 ACCESSASIA | WWW.AUSTCHAM.ORG.SG

AustCham Membership Card Programme The AustCham Membership Card Programme is an opportunity to offer discounts and promotions on services and/or retail products to other AustCham members.

Just flash your AustCham membership card and enjoy the savings!

Offers will be featured on our AustCham website, E-Newsletter and Access Asia magazine

$440 $220

AustCham Membership Tiers Tiers

Benefits

Cost

Individual

+ Feature company announcement on AustCham

$420

The Individual membership is designed for people conducting business or seeking to conduct business in Singapore. Individual memberships are owned by the individual and cannot be transferred to another person. If you move companies, you take your membership with you.

Associate This membership is for individuals who are not resident in Singapore but have a connection to Australia or to Australian business in Singapore or the ASEAN region. Associate members will have all the privileges of Corporate Members except that Associate members will not be entitled to vote at General Meetings and will receive an online copy of our Access Asia magazine.

$210

website and social media

+ Connect with key industry leaders, professionals, and business partners

$300

+ Feature company announcement on AustCham

$150

website and social media

+ Connect with key industry leaders, professionals, and business partners + Maintain a connection to the Australian business community in Singapore

Benefits at a Glance AustCham Tiers

Gold Corporate

Corporate Plus

Corporate Enterprise

Individual

Associate

Nominees 15 Nominees 5 Company write up on Gold Corporate member page on our website Recognition by MC at all events Complimentary tickets to business events* Logo on front of our website Logo displayed at all events (excluding Australia Day Ball) Exclusive invitations to private events Inclusion in thank you emails or advertisements across AustCham communication platforms Corporate branding on tables at events when a complete table is purchased Transferable membership Option to include offer in our membership card program Exclusive member only events Pre sale registration to signature events Feature company announcements on AustCham website and social media Special discount on advertising Connect with key industry leaders, professionals, and business partners Boost your networks Connect with the Australian business community Members rate for events *Per Chamber year - 15 complimentary tickets for Gold Corporate membership, 5 complementary tickets for Corporate Plus membership. Tickets for selected events only, not signature events or the Australia Day Ball

ACCESSASIA | WWW.AUSTCHAM.ORG.SG 39

40 ACCESSASIA | WWW.AUSTCHAM.ORG.SG

THANK YOU

THANK YOU TO OUR CORPORATE PATRONS AND GOLD CORPORATE MEMBERS

Corporate Patron Members

Gold Corporate Members

ACCESSASIA | WWW.AUSTCHAM.ORG.SG 41

NEW MEMBERS

NEW MEMBERS Welcome Gold Corporate Members

Australian National University www.anu.edu.au Dr. Su-Ann Tan Director

Telstra

www.telstra.com.au Brian Kennett

Business Development Director FSI & Emerging Technologies

NEW MEMBERS Simon Lewry

James Gray

Samuel Bednall

Supervising Counsel

Lee Anstiss

Global Accounts

Louise Darby

Manager, Global Bids

Michael Bourke

Senior Product Manager

NEW MEMBERS Corporate Plus Members

Furnware Pte Ltd www.funware.com.sg

Simone Baldwin Account Manager

Simon Harland

Account Manager

Ryan Yearsley Sales Manager

42 ACCESSASIA | WWW.AUSTCHAM.ORG.SG

Principal Consultant

Business Development, Global Cloud Application

Trina Choy

Account Manager

Todd Bates

Head of Offer and Go-to-Market

NEW MEMBERS

NEW MEMBERS Corporate Enterprise/Associate/ Individual Members Corporate Enterprise Accor Hotels - Asia Pacific

Expat Consulting Pte Ltd

Betar Lawyers

Expat Consulting Pte Ltd

Joanne Simpson Senior Legal Counsel

Justin Betar Partner

Building Bridges Building People PTE LTD John E. Davis Founder/Director

Cindicium

David McNaught Program Director

Corney & Barrow Limited (Singapore) Isabelle Wu Sales Manager

Tracy Davies Principal Consultant - HR

Jan Young Managing Director

JD Cloud

Jonathan Knight Director

Ginkgo Management Consulting Craig Rawlings Partner

OFX

Sean Wee Head of Corporate Sales

Singapore Physio

Bevan Colless Owner

Tanglin Trust School Craig Considine CEO

Villa Finder

Khanh Tran Marketing Communication Executive

McCann Health Singapore Nicole Lade General Manager

Delaney Advocates & Solicitors Barry Delaney

MicthelLake Group

Jonathan Tanner Global CEO

NEW MEMBERS Individual Members

Arlene Wherrett VP & Managing Director

Lorena Paglia Director, Advisory Services

Genevieve Chase Asia and China Team Leader

Lucy Bates Admissions & Student Services Manager

Sage Software Asia Ptd Ltd

HealthCare 21 Communications Singapore Pte Ltd

Jitendra Kumara Manager Aset Solutions LLP

Ernst & Young

Nexus International School (Singapore)

Scott Biffin Trader Trafigura

Joel Simpson Director Med Estate Pty Ltd

Karen Loon

TO LEARN MORE ABOUT OUR AUSTCHAM MEMBERSHIP ACCESSASIA | WWW.AUSTCHAM.ORG.SG Visit austcham.org.sg or contact us members@austcham.org.sg

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TRAVEL

MEMBERSHIP CARD OFFERS Present your AustCham membership card and enjoy these benefits.

QANTAS Complimentary business class check-in for you at the Qantas lounge in Singapore

BUSINESS SERVICES 2STALLIONS DIGITAL MARKETING AGENCY 20% discount on SEO service AIMS IMMIGRATION SPECIALIST 15% discount on professional fee at AIMS Immigration Specialist CITY SERVICED OFFICES 10% discount on facilities and services at City Serviced Offices ENGN 15-20% photography discounts off headshots HOLIDAY INN® SINGAPORE ORCHARD CITY CENTRE 10% off for Meetings, Incentives, Conventions, Conferences, Exhibitions LEVEL3 Complimentary month of ‘Community Membership’ SERVCORP Enjoy ‘The Virtual Office’ package complimentary for one month WORLDFIRST Enjoy %50 off first international transfer WOTSO Enjoy 50% off first month of co-working membership

EDUCATION & TRAINING COALFACE DIALOGUE Enjoy up to 30% off selected public programs anywhere in SEA SINGAPORE MANAGEMENT UNIVERSITY Receive 5% discount on selected SMU Executive Development Programmes

FINANCIAL SERVICES PAY2HOME Enjoy money transfers to Australia for a flat fee of $15 (save 25%) QBE SINGAPORE 20% discount on personal lines including Home, Motor and Travel coverage

HEALTH SERVICES ALL IN THE FAMILY COUNSELLING Enjoy special rates for counselling sessions GLOBALIS INTERNATIONAL HEALTH INSURANCE AustCham members, both individuals and groups, now receive discounted rates on their international health insurance

LIFESTYLE & ENTERTAINMENT BOUNCE SINGAPORE 10% off General Access Tickets CHI, THE SPA Enjoy 10% off discount DAMAI SPA Enjoy 20-30% off A La Carte treatments

SPA BY JW MARRIOTT HOTEL Enjoy 20% off A La Carte treatments THE VIRTUAL ROOM Enjoy 15% off discount

TRANSPORT & RELOCATION SERVICES ALLIED PICKFORDS Offering AustCham members a special insurance premium of 3%

HERTZ Enjoy 15% off on Affordable Rates for car rentals

HOTELS COMO THE TREASURY PERTH Enjoy Friday and Saturday night stay at 10% off the public rate.

FAR EAST HOSPITALITY Enjoy discounts on best available rates at Far East Hospitality Hotels in Singapore and TFE Hotels in Australia HOLIDAY INN® SINGAPORE ORCHARD CITY CENTRE Enjoy 10% off from Best Available Room Rates PARK REGIS, SINGAPORE Complimentary breakfast when you book Bed & Breakfast Package

THE CANOPI AustCham members enjoy 10% off Best Available Room Rates at The Canopi and 10% off all activities at Chill Cove @ Treasure Bay Bintan.

THE FULLERTON HOTELS SINGAPORE Enjoy an exclusive 10% off the Fullerton Family Package.

THE FULLERTON BAY HOTEL 10% off the Indulgence Room Package VILLA FINDER With an average stay that costs $3000 in luxurious villas, Villa Finder is now offering AustCham members 5% off their villa booking!

RIA BINTAN AustCham members enjoy $20 off Newbie Golf Experience & $200 off Membership.

RESTAURANTS ARTISAN BOULANGERIE CO. 17.5% off total bill

NAMI Enjoy 15% off total bill for a la carte items

BEACH ROAD KITCHEN 1 person dines free for every 3 paying adults for Sunday Brunch

ORIGIN BAR & GRILL 15% off total total bill

CAFE MOSAIC 20% discount off total bill COOL CATS, THE NCO CLUB 30% off total bill COURT MARTIAL BAR 30% off total bill FISH POOL, THE NCO CLUB 25% off total bill GATTOPARDO 15% discount off total bill JAXS BISTRO 10% off total bill JOJI BAR 10% off total bill at Joji Bar, Carlton Hotel Singapore LOBBY LOUNGE & BAR 20% off total bill and all day happy hour MEATSMITH Special discounts available

SHANG PALACE 15% off total bill SHOPHOUSE BY SHANGRI-LA 15% off total bill TANDOOR 20% off total total bill THE LINE 15% off total bill THE LOBBY LOUNGE 15% off total bill THE ROSE VERANDA 15% off total bill WAH LOK CANTONESE RESTAURANT 10% off total total bill WATERFALL RISTORANTE ITALIANO 15% off total bill WHITEGRASS 20% off total bill WINDOW ON THE PARK Enjoy 1-for-1 Lunch Buffet/Semi-Buffet (Weekday night)

MEDIA BAR Enjoy 25% off total bill

RETAIL EASTERN CARPETS Receive 10% discount on all carpet cleaning services EUROPEAN BEDDING Receive 5% discount on top of existing promotions INDIGO WINE CO $30 off first purchase of discounted Australian wine packs

SHIVA DESIGNS 15% discount on purchases over $99 UOMO GROUP Exclusive discounts at UOMO Group, Brioni and Stefano Ricci WINE EXCHANGE ASIA $69 per bottle for cases of six BillecartSalmon NV Champagne

NATURAL SPRINGS AUSTRALIA Receive one free 5-gallon bottle with every five bottles purchased

VISIT WWW.AUSTCHAM.ORG.SG FOR FULL DETAILS & CONDITIONS

NEWS FLASH THE FACTS ON CHANGES TO CAPITAL GAINS TAX FOR EXPATS • The target of the legislation is to reduce the demand for housing from foreign investors, to take the heat out of the housing market – it has worked!

• As foreign tax payers, expats have been roped into the definition. They were not the primary target.

• CGT will only apply if the Australian house IS SOLD while an expat is a foreign taxpayer. If it isn’t sold while the expat is on assignment, all current exemptions continue to apply. The legislation, if passed in the Senate, will come into full effect after 30 June, 2019.

• If the property is sold while the expat is a foreign tax payer, CGT applies from the start of ownership (not from the time they became a foreign taxpayer). Again, this has been an effective incentive causing foreign investors in Australian dwellings to head for the exit door before 30 June next year, and housing prices have dropped accordingly.

• However, it does have draconian consequences in a small number of circumstances where expats need to sell for genuine personal reasons whilst on assignment. Nevertheless, in these cases, if they resume Australian tax residency before they enter a sale contract, they will be exempt from CGT. • The small number of circumstances where expats can get caught are: 1.

2.

3.

If they don’t calculate the profit on sale of their residence, after taking CGT into account before they decide to sell, while a non-resident; If there is a divorce and the house is sold as part of a carve up of assets while they are a non-resident; If they die while a non-resident and their beneficiaries are also non-residents and decide to sell (no issue if the beneficiaries are Australian tax residents when they sell)

THE BIGGER & BETTER AUSTCHAM 10KM CHALLENGE 2018; A RENOWNED SUCCESS SINGAPORE, 29 October 2018: Organised by AustCham Paddle Club with Australian Chamber of Commerce (AustCham) and Singapore Dragon Boat Association (SDBA), Singapore’s only 10 kilometers dragon boat race held on Saturday, 29 September 2018 had over 30 participating teams it is arguably the country’s most physically and mentally challenging dragon boat race.

The challenge race, described as an “Expedition” , is unlike other typical straight course dragon boat racing events due to its distance and course. After a staggered start, teams work to chase each other down as they navigate a course taking them from beneath Merdaka Bridge at Kallang River,around Kallang Basin, Marina Barrage, Gardens by the Bay and the Merlion, much to the enjoyment of crowds the gather each year to cheer on the teams.

Considered a test of every dragon boat team’s endurance and teamwork, the AustCham 10km Challenge participation has grown steadily over the 10+ years it has been running and now boasts participant teams from expat community clubs, corporate teams, government agencies, community sports clubs, universities and other associations. For teams who wished to get a feel for the longer-than-normal race distance, the 5km category for 12 crew boats – introduced in 2017, was run for the 2nd year. MINDEF/SFASA made a clean sweep of the 5km race, of which 17 crews took while the premier 10km category (20 crew boats) race placers from over 27 teams competing were Singapore Paddle Club, Singapore Institute of Management and AustCham Paddle Club. After the intense competition, the camaraderie between the various teams was on display at the after race party at AustCham Paddle Club’s sponsor bar – Hero’s with plenty of refreshments, pub games and prize giveaways donated by the many sponsors of the race.

OCT / NOV 2018 AccessAsia Magazine is published bi-monthly

by AustCham Singapore

EDITORIAL AND NEWSFLASH ANNOUNCEMENTS To submit articles or announcements for consideration for Access Asia, email info@austcham.org.sg

Editorial Team Kate Baldock, Executive Director Rica Ang, Marketing Executive

ADVERTISING To learn more about advertising in Access Asia Magazine, contact Rica Ang at rica.ang@austcham.org.sg

Design Rica Ang, Marketing Executive

FOLLOW US ON

AustCham Singapore 25 Napier Road (Level 3) Singapore 258507

@AustCham-Singapore

@AustChamSingapore

@AustChamSG

READ THE DIGITAL COPY AT AUSTCHAM.ORG.SG

Experience the Qantas difference Savour the taste of Australia before you even arrive Visit qantas.com ACCESSASIA | WWW.AUSTCHAM.ORG.SG 47

AUSSIE - RULES Skills for life

Integrity

Watch your child grow into a responsible, respectful and caring world citizen We celebrate our students’ academic, sporting and artistic achievements - day in and day out. However, we also instil a deeper quality - one which drives them to spur on their classmates, help a straggler over the wall and gracefully applaud the successes of others. The building of character is woven into everything we do.

Speak to our friendly Admissions Team about becoming part of our community.

Globally focused distinctly Australian

...

www.ais.com.sg +65 6653 7906

The Australian International School Pte Ltd is part of the global Cognita family of schools and is registered by the Committee for Private Education (CPE), part of SkillsFuture Singapore (SSG). CPE Registration Number 199204405H. Period of Registration 6 July 2015 to 5 July 2019.