Issue 3 - 2015
Issue 101 PP 11826/07/2013 (032918)
Staying Safe Protecting National Infrastructure and Corporate Assets From Threat of Attack
3 - 2015 Back To Society PLUS: ■ Powerhouse For Trade ■ Sixty Second Pitch ■Issue Giving
Issue 3 - 2015
First Lines
A
s the world in general, and Malaysia in particular, continues to reel from constantly evolving market dynamics, businesses everywhere are working hard to ride out the storm and regroup for times ahead.
At BMCC, things have been very active over the last couple of months, with our team forging new relationships and opening doors for companies to access new business opportunities. Another major milestone for the Chamber was our close involvement in the visit by the inaugural UK Northern Powerhouse delegation, led by Sajid Javid, Secretary of State for Business Innovation & Skills. This was an integral part of Prime Minister David Cameron’s visit, Andrew Sill Chairman - BMCC
who was also accompanied by Minister of Trade Lord Maude and a contingent of major UK companies. Both delegations were looking for export and business development opportunities, demonstrating the clear message that there is real and positive interest in Malaysia.
Termed “the Northern Powerhouse” and comprising Chamber members from various UK regions, the trade delegation was a significant reflection of the UK Government’s stated intention to encourage greater growth and investment in areas outside of London and the South East. The BMCC was responsible for organising the programme for the SME members of the group, which included a business briefing on Malaysia, a high energy B2B networking session and an exclusive luncheon at Marble8 with its views of Petronas Twin Towers. The feedback we received from several companies was very postive, with many saying the visit had opened their eyes to the business potential of Malaysia. A key highlight of the visit was a Reception hosted by HE Vicki Treadell at the Symphony Lake Suite, the unique venue in the centre of KLCC Park, with David Cameron as the Guest of Honour. You can read more about all this on Pages 8 through 10. With the continuing positive momentum of the Overseas Business Network Initiative and regular collaboration on events such as the Northern Powerhouse visit, we are working ever more closely with the British High Commission and UKTI. This is an important tenet of BMCC’s ongoing growth and development and will help to ensure the Chamber continues to be THE chamber for connections and the place for business. Plans are well in hand for another of our signature events - our Annual Corporate Christmas Luncheon on Friday 4th December. Mark the date in your diaries and book your table early – details of this and other upcoming events are on Page 6. Lastly, we are saddened to learn of the sudden passing of our long time member Christopher Bell. As founder and Chairman of the Brighton Education Group, he was responsible for making significant inroads into improving rural education for Malaysians. Our condolences go to his family, friends and all those who knew him.
BMCC 2015 Annual Sponsors PLATINUM:
BMCC Executive Office
GOLD:
PREFERRED AIRLINE PARTNER:
4th Floor, East Block, Wisma Selangor Dredging, 142B Jalan Ampang, 50450 Kuala Lumpur. Tel: +60 3 2163 1784/2163 1786 Fax: +60 3 2163 1781 Email: membership@bmcc.org.my www.bmcc.org.my Follow us on: BMCCMALAYSIA
Issue 3 - 2015
The Chamber
The British Malaysian Chamber of Commerce is the leading business networking organisation in Malaysia comprising 350 top member companies with an outreach of over 75,000 employees. Since 1963, the BMCC has been a catalyst in providing businesses in Malaysia with support, networking, knowledge exchange and bilateral trading assistance. We serve as a dynamic hub for enterprise to thrive and businesses to connect with each other, helping to promote and foster trade and investment between Britain and Malaysia. BMCC is proud to be part of British Chambers in South East Asia or BiSEA, enabling our members to enjoy similar Chamber benefits in seven other countries including Vietnam, Thailand, Brunei, Laos, Cambodia, Indonesia, and Singapore.
BMCC Patrons: HE Victoria Treadell, CMG, MVO British High Commissioner YBhg Tun Musa Hitam
Chairman: Andrew Sill, The Royal Bank of Scotland Bhd
Deputy Chairman: David Ng, International SOS Sdn Bhd
Directors: Soo Kim Wai, Amcorp Properties Bhd Bob Olivier, Aspac Executive Search Sdn Bhd Andrew Diamond, Bubblegum Sdn Bhd Datuk Seri Michael Yam, InvestKL Amanda Powell, KL Kudos Design Sdn Bhd Dato’ Larry Gan, OMESTI Bhd Michael McIver, Plus Three Consultants Sdn Bhd Mahendra Gursahani, Standard Chartered Bank Malaysia Bhd Bill Addington, TechSol Sdn Bhd Datuk Peter Wentworth, OBE, Weir Minerals Malaysia
Ex-Officio: Gavin Anderson, British Council Tony Collingridge, OBE, UK Trade & Investment Dr Zainal Abidin Majid, Advisor To The Board
BMCC Executive Office Nik Tasha Nik Kamaruddin: Executive Director Stephanie Ho: Director of Events Louis Arokianathan: Finance Manager Ralph Owczarek: Senior Project Manager, OBNI Agnes Elizabeth: PA & Head of Business Development Afiq Sahidi: Office Executive
BMCC Magazine Editor: Amanda Powell Editorial Committee: • George Aveling • Marcus Osborne • Nik Tasha Nik Kamaruddin • Bill Addington Production: KL Kudos Design Sdn Bhd Printing: Tinggi Press Sdn Bhd Lot 6, Jalan Kuang Bulan, Taman Kepong, 52100 Kuala Lumpur.
Berita BMCC is published bi-monthly for distribution to BMCC members and other organisations in the business community. The views expressed or implied herein are those of the authors or contributors and do not necessarily reflect those of the Chamber.
4
Issue 3 - 2015
In This Issue
STAYING SAFE
On The Cover
Threats to national infrastructure and corporate assets are on the increase as cyber criminals become ever more innovative in their methods. What can be done to protect against these insidious sources of damage and disruption. Our feature section has more. Turn to Page 17.
■ First Lines ................................................. 3 ■ Hot Happenings ........................................ 6 ■ Trade Talk ................................................... 7 >
OBNI: Open For Business
>
Powerhouse Of Opportunity: Visit By Senior VVIP UK Trade Delegation
>
Shopping Is GREAT: 2015 Campaign Launches
>
BMCC Goes On The Road
Issue 3 - 2015
■ Report Back............................................. 13 >
BMCC EGM: Members Vote For Change
>
Forging New Ties: Bournemouth University In Town
>
Commonwealth Series VIP Luncheon: YB Senator Dato’ Sri Wahid Omar
>
Education For Mobility: Sunway & Lancaster Partnership
■ InsideBiz ................................................... 16 >
Understanding Competition Law
■ Cover Story ............................................. 17 > Staying Safe: Protecting National Infrastructure & Corporate Assets From Attack ■ Meet Our New Members ....................... 28 ■ News From Our Members ..................... 31 ■ On The Social Scene ................................ 36 ■ Out In The Community ........................... 38
BMCC Magazine Reach Your Target Market, Raise Your Profile With BMCC
BMCC Magazine is a powerful platform to reach your target audience. We offer editorial and customised sponsorship packages as well as advertising at very competitive rates. Does your company have a good story to tell? Get in touch! We want to hear from you!
Sponsorship and advertisement opportunities available! Deadlines Imminent: Contact: +603 2163 1784 or editor@bmcc.org.my
Issue 3 - 2015
5
Hot Happenings
Dates For Your Diary October 20
21-23
Tues BMCC New Membership Briefing 2.00pm-5.00pm Regus Menara Darussalam Find out more about BMCC’s new Sterling Membership and other new benefits
Weds-Fri
27-29
Global Transformation Forum 2015, Kuala Lumpur
Tues-Thurs 4th Cranfield Asia Executive Leadership Programme 2015 Bangkok Thailand
Line-up of leading international speakers.
Managing Change & Building Business Resilience
Discount for BMCC Members
Email enquiry@kpsb.net
November Journey Into
3
Tues British Chambers of Commerce 2015 International Trade Conference
The Enchanted Wood BMCC Christmas Lunch
Connaught Rooms, London E: sridaran@bmcc.org.my
8
Sun British High Commission Remembrance Day Service 08.00-0915: Tugu Negara, Kuala Lumpur RSVP Carin.Rose@fco.gov.uk
12
Thurs Cyberjaya Tour & Cocktail Reception 4.45pm-7.30pm Cyberjaya Resort & Spa Join us for the latest news on this tech hub!
~ 3-course Christmas Menu ~ with free flow wines, beer & soft drinks
18
Weds Inter-Chamber VIP Luncheon 2016 Budget Review
Member: RM200+ pp RM2,000+ for 10 Non Member: RM230+ pp RM2,300+ for 10 Fabulous lucky draw prizes including return flights for 2 to London on British Airways!
Guest Speaker: Tan Sri Dato’ Zeti Akhtar Aziz, Bank Negara Malaysia
Contact events@bmcc.org.my to book!
19
Thurs BMCC UK Property Investment Talk Mandarin Oriental KL Sponsored by Amcorp, CBRE & Addleshaw Goddard 9.00am-2pm incl lunch
For details on all events Visit www.bmcc.org.my Follow us on Facebook for updates! 6
Issue 3 - 2015
Trade Talk
OBNI: Open For Business B
MCC’s Overseas Business Network Initiative (OBNI) team held its very first Open Day recently to provide companies with closer insights into the services on offer and the potential opportunities available as a result of the drive to bring businesses closer. Held at the Regus Serviced Office premises in downtown KL, the event attracted a sizeable number of businesses who were keen to find out more. The session kicked off with an overview of the Chamber and the benefits of membership, followed by a detailed presentation from Ralph Owczarek, OBNI Senior Project Manager. Break-out sessions were also held for companies to discuss specific enquiries.
WHAT’S ON OFFER •
Access to the best private sector connections, expertise and business opportunities in both markets
•
Advice on doing business, evaluation and business matching
•
Market overview, sector research and competitor analysis
•
Guidance on local import and trade regulations
NEXT OPEN DAY! 9.00am - 20 October 2015 Regus, Level 15, Menara Darussalam, Jalan Pinang Come and find out more about the BMCC and the international trade prospects available through the OBNI. Places limited. Email events@bmcc.org.my
Issue 3 - 2015
7
Trade Talk
POWERHOUSE Of Opportunity The year 2015 has been important one for bilateral ties between UK and Malaysia. A pinnacle and arguably the historic event of the year to date was Prime Minister David Cameron’s visit to Malaysia in July under the banner of the Northern Powerhouse. BMCC’s OBNI Senior Project Manager, Ralph Owczarek has more.
T
he visit by the Northern Powerhouse Delegation has been the defining event of the year so far - setting unpreceded commitment that aims to solidify UK–Malaysia ties. Malaysia was proud to be selected as one of the four countries in South East Asia as part of the UK Government’s roadshow. The eventful visit was further bolstered by a large trade delegation comprising 40 UK SMEs plus supporting organisations, all of whom were keen to learn more on the opportunities available here. This sizeable delegation was led by Lord Maude, Minister of State for Trade & Investment, along with Sajid Javid, Secretary of State for Business Innovation & Skills, and Anna Soubry, Minister of State for Small Business & Enterprise. The action-packed programme comprised a briefing on the Malaysian economy, a lunch with business leaders plus a high impact B2B networking session. This was followed by other meetings with the Malaysia’s key decisionmakers and economic players with the aim of encouraging more business ventures and FDI. Top: BMCC Chairman Andrew Sill welcomes the delegation
8
Issue 3 - 2015
One of the key pillars of the visit was the official launching of 2016 as the year of British Education in Malaysia. A ceremony held at British Council Malaysia, attended by Prime Minister Cameron, kicked off this campaign. British education in Malaysia has always been an important trade component, with offshore campuses of five UK universi-
ties already operating here - Nottingham, Newcastle Medical School, Southampton Engineering School, Reading and Heriot-Watt. The goal is to build on this success which also aims to complement Malaysia’s newly revitalised “Education Blueprint 2015-2025” which emphasises the need to strengthen higher education. The Prime Minister’s visit was also aimed at reciprocating investment efforts back to the UK, particularly to the Northern Powerhouse region. At a Reception hosted by HE Vicki Treadell, Britain’s High Commissioner to Malaysia, his speech to the high level audience, highlighted the investment opportunities presented by the up and coming Northern Powerhouse region. He emphasised that the success of the Battersea Power Station initiative could well be replicated in the northern industrial heartland of the country. As such, there are comprehensive plans to spur growth and development by the 2020 in key cities including Liverpool, Manchester, Leeds, Sheffield and Newcastle.
Trade Talk
Top Left: British High Commissioner HE Vicki Treadell with Sajid Javid [on the right] and Tony Collingridge of UKTI
Issue Issue33--2015 2015
9
Trade Talk
Momentous Occasion Right: UK Prime Minister David Cameron highlights the opportunities for companies to invest in the Great Britain, particularly in the Northern Powerhouse region Below: BMCC Chairman Andrew Sill meets the Prime Minister, as Deputy Chairman David Ng and Executive Director Nik Tasha Nik Kamaruddin look on. Examples of Britain’s investment opportunties were on display around the venue.
10 8
Issue 3 - 2015
Trade Talk The Northern Powerhouse:
WHAT IS IT? By 2020, the cities of Manchester, Leeds, Sheffield, Liverpool and Newcastle are set to go through a major infrastructure and transport links development, becoming an attractive environment for foreign investors and adding to the region’s relatively untapped economic potential. The plan is simple – to rebuild the North of England to be one of the world’s most competitive regions. The success of this project will create a more robust and balanced economic platform for the UK, so countering economic dependency on London and the South.
Shopping Is GREAT Contest
An affordable effective transportation system will be the foundation of future growth, allowing the seamless flow of resources to and from the region, improving the capabilities of the region’s supply chain. Science and innovation is another key component of the project, as well as devolution of power. The newly rebuilt region will create a single market for people, goods and ideas that will empower the North to compete with the rest of the world. It will drive the growth of a knowledge economy in which ease of travel, access to skills, and the ability to create talent pools are crucial for both the city regions and companies based there. Leeds
Grand Prize: * £1,000 cash courtesy CIMB Bank * 2 return flights with British Airways
Bigger & Better Than Ever!
T
* 4 nights in Hilton London Angel Islington * 2 LUXE tickets to London Fashion Weekend * VIP shopping day at Bicester Village * VIP match tickets to Tottenham Hotspur
his year’s Shopping is GREAT and Food is GREAT campaigns are bigger and better than ever before with 70 British brands participating in over 300 stores around Malaysia. Shoppers can try their luck in the Shopping is GREAT contest and stand the chance to win a “money can’t buy” VIP shopping trip to London and other exclusive prizes.
Plus, many more prizes worth £50,000!
Staged by the British High Commission and UKTI, this year’s campaign sees Hilton Kuala Lumpur also on board with the Food is GREAT Festival running throughout October. Hilton KL’s new British Executive Chef Warren Brown is the mastermind behind a number of treats that await guests, including:
Ben Sherman - BHS, Burton Menswear London - Cabin Zero - Cath Kidston - Clarks Debenhams - Dorothy Perkins - Dr Martens - Early Learning Centre - Fitflop - Fred Perry - French Sole - Hamleys - Harrods Jo Malone - Joseph Joseph - Kitchen Craft - Laura Ashley - Liverpool Football Club - Lyle & Scott - Marks & Spencer - Miss Selfridge - MODALU England - Morphy Richards - Mothercare - Natural Looks - Neal’s Yard - Newens of London - Next - Outback - Penhaligon’s - Pepe Jeans - Radley London - Royal Albert - Royal Doulton Sports Direct - STORM London - Superdry - Ted Baker - The Body Shop - TM Lewin - TONI&GUY - Topman - Topshop - Wallis - Warehouse - Waterford and Wedgwood
•
5-five-course VIP dinner and audience with British celebrity Michelin star chef Gary Rhodes
•
KL’s largest super brunch
•
Twinings tea pairing dinner
•
English afternoon tea buffet and
•
James Bond extravaganza
British High Commissioner HE Vicki Treadell, said: “British retail brands are doing very well in Malaysia with over 50 per cent of the British retail brands currently here having either expanded their footprint or having entered the market since we launched our first Shopping is GREAT campaign in Malaysia two years ago.”
Shoppers need only spend RM250 or more in a single purchase at participating outlets and answer a simple question. Multiple entries allowed. Open until 31 December 2015. CIMB Bank credit, debit or Kwik card users get to double their chances.
Participating British Retailers
+ British brands in Robinsons Department Store and on ZALORA.com. Patrons of Hilton Kuala Lumpur’s 10 restaurants and bars who spend RM250 or more during October are also eligible to enter.
Issue 3 - 2015
11
Trade Talk
Raising PROFILE BMCC’s OBNI Team Hits The Road International trade efforts are gaining good ground with BMCC’s OBNI team due to take part in a series of flagship events in November, all designed to boost bilateral ties and foster trade opportunities. BCC International Trade Conference 3 November 2015 - London Hosted by the British Chambers of Commerce (BCC), the event will serve as a congregation point for exporters, trade support service providers and policy makers who will highlight issues and trends that are currently prevailing in the international market. The BCC is a network of accredited chambers of commerce based in the UK and as well as from key emerging markets worldwide. Some 700 delegates from all around the world are expected to attend, including the BMCC OBNI team representing the Malaysian market and the broader Britain in South-East Asia (BiSEA) network. This year’s event will focus on SME exporters by providing professional guidance and expertise to enhance their international activities. The conference will be structured around a full day of talks and high profile discussions, featuring global business leaders, and a group of panellists that includes Rt Hon Lord Maude of Horsham, Minister for Trade & Investment and the Director General of BCC John Longworth. Case studies and keynotes address will be presented by leaders of accomplished global British brands such as Rolls Royce Chairman Ian Davis and Heathrow Airport’s Chief Executive John Holland-Kaye.
12
Issue 3 - 2015
Global Network Forum 4 November – London Organised by UK Trade & Investment (UKTI) and the BCC, the Forum will gather the different representatives of the OBNI with the aim of identifying issues and improving on the service provided by the global OBNI teams. The OBNI provides a range of services for UK companies that are keen on starting or expanding their business overseas. The portfolio of services includes market introduction and advice, local guidance, research and business opportunities. The forum will also be attended by OBNI delivery partners, such as UK-based and overseas British Chambers of Commerce, in-market UKTI trade colleagues and International Trade Advisers.
Export Week 9-13 November 2015 – Nationwide. Organised by UKTI. Five days of specialised events held across the UK to assist SMEs with export activities. Companies will have a chance to participate in seminars and face-to-face discussions with overseas market experts and trade facilitators. Some 27,000 companies attended the events held during the 2014 Export Week. BMCC’s participation in this event serves as an opportunity to stay informed on the relevant trends and developments occurring in the UK and gather information on what UK SMEs are looking for with respect to the Malaysian market.
Contact BMCC Office for details
GROWING Exports A whirlwind tour of key cities in the UK by BMCC Executive Director Nik Tasha Nik Kamaruddin recently has generated significant interest among British companies looking to seize growth opportunities in Malaysia.
T
he walk-in series of events saw UK companies arriving in large numbers to understand what benefits the third largest economy in South East Asia has to offer. During the sessions, Tasha imparted a wealth of knowledge on the Malaysian market and discussed how to take advantage of this emerging multi-sector economy.
and this is just one example of the fantastic job we can do together to make sure export is GREAT and heading our way to Malaysia.’ Tasha confirmed that the roadshow illustrated perfectly how BMCC is able to bridge the gap for British businesses looking to launch their operations in Malaysia’s developing market.
She held consultations with companies in the London Chamber of Commerce & Industry, the Bristol Chamber of Commerce, and the East Lancashire Chamber of Commerce. She also met with the Malaysian Industrial Development Authority (MIDA) representative office in London.
Selected by the UKTI as the service delivery partner for UK SMEs in Malaysia under the Overseas Business Network Initiative (OBNI), the BMCC is the seventh chamber to be certified to provide overseas market introduction services and support for British SMEs abroad.
“I had a fantastic full-day session with UK companies today”, she said after the East Lancashire session. To those who were not able to attend, her clear message was: “Malaysia is open for business. We are working closely with chambers of commerce here,
The innovative partnership strengthens the collaboration between UKTI, the Foreign & Commonwealth Office (FCO) and the Chamber, providing a comprehensive service delivery platform that further develops trade between the UK and Malaysia.
ReportBack Trade Talk
CHANGES
For The Chamber
B
MCC members have voted to approve amendments to the Chamber’s constitution as tabled at a recent EGM, held at Regus Menara Prestige in central KL. The meeting was attended by a sizeable number of members and was chaired by BMCC Deputy Chairman David Ng. The principal changes brought into effect include the introduction of additional membership categories in-
cluding that of Sterling Membership, which entitles interested members to an exclusive range of benefits. The changes also further define the procedures for the election and/or re-election of Directors.
FORGING New Ties
Other changes were introduced largely to adhere to the new requirements of the Registrar of Societies in a number of areas. These include the defined roles of the Chairman and Deputy Chairman, the appointment of Trustees to hold any assets of the Chamber as well as the setting up of an independent Disciplinary Panel.
B
MCC was the principal liaison for Bournemouth University’s working visit to Malaysia recently led by Professor John Vinney, ViceChancellor and Dr Sonal Minocha, the Pro Vice-Chancellor.
The Chamber organised a roundtable discussion with representatives from the public and private sectors, including MIDA, Pemandu, InvestKL, MDec, Cyberview, Reds11 Training & Consulting and KL Convention Centre. During the day, Bournemouth was able to engage with key relevant players and garner valuable information that would help craft a better entry strategy for the University’s imminent venture into the Malaysian market. Bournemouth has aspirations to be operating in six continents and Malaysia has been identified as the entry point to South East Asia. The University’s impressive academic portfolio is expected to positively resonate among Malaysians with a curriculum that combines conventional disciplines such as science, technology and management and degree courses in media and communications, including animation and multimedia. Professor John Vinney expressed the University’s keenness “to complement Malaysia’s education blueprint and cater to industry needs by adopting an academic model that satisfies industry requirements rather than to solely appease academic needs which often times disenfranchises graduates.” www1.bournemouth.ac.uk
Issue 3 - 2015
13
Report Back
SPURRING Development Promoting Inclusiveness At the latest round of the Commonwealth VIP Speaker Luncheon Series, Minister in the Prime Minister’s Department YB Senator Dato’ Sri Abdul Wahid Omar provided valuable insights into the role of government in the implementation of the 11th Malaysia Plan, as well as the opportunities that can be leveraged by the private sector. “While Malaysia’s rankings with the World Bank and World Economic Forum for Ease of Doing Business and Global Competitiveness have improved, there is still much work to be done. We are further strengthening macro-economic resilience for growth.”
of the respective business Chamber/ Business Councils. Business leaders from a broad cross-section of industry were also in attendance, eager to learn first-hand about the future growth prospects for Malaysia.
T
he prestigious event, held at the DoubleTree by Hilton Kuala Lumpur, was organised by the Malaysia Australia Business Council (MABC) in collaboration with BMCC and Malaysia Canada Business Council (MCBC). The Series is held on a quarterly basis with responsibility for hosting the event rotating among the Chambers/Councils. In addition to the Senator, other VIP guests included British High Commissioner & BMCC Co-Patron HE Vicki Treadell, Australian High Commissioner Rod Smith and the Chairmen
14
2 - 2015 Issue 3
The Senator focused on the six key strategic thrusts of the 11th Malaysia Plan, together with the corresponding game changing enablers. The strategic thrusts were outlined as being: •
Enhancing inclusiveness
•
Improving well-being for all
•
Accelerating human capital development
•
Pursuing green growth for sustainability and resilience
•
Re-engineering economic growth for greater prosperity
Among the measures being implemented are unlocking productivity potential to ensure sustainable and inclusive growth; promoting investment to spearhead growth, including reducing the cost of doing business and addressing the talent gap; and increasing exports to improve the trade balance by improving the export ecosystem. “The progress made so far under the Economic Transformation Programme is a good start. But we need to embed the changes across multiple sectors of the economy to
ReportBack
Right: [Left to Right] MABC Event Chairman Ir KC Yong, BMCC Chairman Andrew Sill, HE Vicki Treadell, YB Senator Dato’ Sri Abdul Wahid Omar, HE Rod Smith, MABC Chairman Leigh Howard.
ensure the momentum is maintained. The private sector has an important role to play too. We are encouraged by the level of private investments that have been approved in the last 12 months. and we hope this trend will continue.”
EDUCATION For Mobility The recent Jeffrey Cheah Foundation Distinguished Speaker Series featured Guest Speaker the Rt Hon Alan Milburn, former MP and now Chancellor of his alma mater Lancaster University, UK. BMCC Executive Director Nik Tasha Nik Kamaruddin caught up with him ahead of the event.
"
To be selected in life by worth and not by birth". This is the philosophy that is driving the new age of thinking for both Lancaster University of the UK and Sunway University Malaysia, institutions that have been partners for the past 10 years. Lancaster is consistently ranked in the top 10 UK universities whilst Sunway University has led by example in Malaysia. No wonder then that the relationship is moving from strength to strength.
The Rt Hon Alan Milburn was appointed as Chancellor of Lancaster University in January this year. Drawing on his own experiences as a young man, he outlined how this formula has the potential to address the social injustices that have been the root cause of limited opportunity among the underprivileged in the UK. “Young people have talent, but the opportunities to move forward are not as well distributed in society as they should be - or as they were. That is wrong.” Some 91 percent of Lancaster University students come from the lower middle to working class income bracket. As such, Chancellor Milburn believes that enabling social mobility must be a conscious practice that all educational institutions must adopt if they are to foster the development of a truly diversified body of talent. “By acting at every life stage - school, university, internship and recruitment – social mobility can be a reality.” As relatively young universities, both Lancaster and Sunway University are more likely to be more adaptable to this change, with inclusiveness becoming the norm rather than the exception. In addressing the lecture audience, he stressed that educational institutions must ensure that students are equipped with two essential elements for the next stage of life postuniversity life: the power of knowledge; and the ability to use it correctly.
www.sunway.edu.my Issue 3 - 2015
15
InsideBiz
Competition & Regulatory Issues: Applications For Malaysia Malaysia’s Competition Commission began operations more than three years ago under the Malaysia Competition Act 2010, which draws much inspiration from EU and UK law. Since then, it has investigated sectors as diverse as airlines, bakery, shipping, stationery and ice manufacturing. This article, by Philip Watkins and Suzanne Rab, takes a closer look.
A
s Malaysia continues to develop its experience in competition cases, it is useful to take a comparative look at the evolving enforcement experience and sector trends elsewhere. One sector where competition law scrutiny has been particularly prominent internationally is the financial services sector. In the UK and in Europe, almost every area of financial services activity has been subject to inquiry by the competition or regulatory authorities in recent years. In contrast, to date, financial markets do not appear to have been at the forefront of competition law inquiry in Malaysia. Although the facts of specific cases are unique, the general themes underlying them are not and the lessons learnt are often transferable to other jurisdictions. This makes the financial services sector an interesting lens through which to view competition law enforcement. First, owing to the nature of financial markets (which are characterised by network effects and often large economies of scale), there is frequently a need to balance competition with cooperation between competitors. Second, the institutional framework for regulation of the sector is one where the competition authority operates alongside sector and prudential regulators. Finally, the sector is subject to public scrutiny where regulatory responses to the economic crisis and the accountability of financial institutions remain high on the political agenda.
Cartels & Market Manipulation A classic example of the type of activity that is prohibited by competition law is a pricefixing cartel. This is prohibited by Article 101 of the Treaty on the Functioning of the EU (TFEU) and by its counterpart in Chapter I of the UK Competition Act 1998. There is an equivalent prohibition in Malaysian competition law under section 4 of the Competition Act 2010. In Europe, the financial services sector has seen a number of high-profile cartel inves-
16
Issue 3 - 2015
tigations and there are others in the pipeline. At EU level, the European Commission (Commission) has maintained its competition law focus on manipulation of interest rate derivatives. In Euro Interest Rate Derivatives, the Commission found that four mainstream banks participated in a cartel for varying periods between September 2005 and May 2008. The total fines in this case represent the third highest aggregate fines in an EU cartel case since 1969 (€1,042,749,000). Yen Interest Rate Derivatives also involved settlement discussions with various parties. The cartels concerned Japanese interest rate derivatives linked to the JPY LIBOR as well as the Euroyen TIBOR. In February this year, the Commission announced it had fined a leading UK broker €14.9 million for its role in allegedly facilitating cartel activity that manipulated the yen Libor interest rate. The Commission maintained that the broker served as a conduit between two traders to enable the dissemination of information. Fines were imposed totalling some €669 million.
Market Investigations Market investigations are used where the issues do not appear to arise from cartels or other anti-competitive agreements between firms, or the abuse of a dominant position. Instead this method aims to find other features of a market which prevent, restrict or distort competition including regulation and subsequently, aims to devise a means of remedying, preventing or mitigating those effects, taking account of any incidental benefits which those features may bring to customers. Over the last decade, market investigations into the UK financial sector have covered such areas as: banking for small and medium sized enterprises (SMEs), personal current accounts, store cards and insurance, payment protection insurance, home credit, audit services and pay day lending.
In November 2014, a market investigation was launched into the retail banking sector. The UK competition authority, the CMA, is investigating the supply of personal current accounts and banking services to SMEs. Among their concerns are: low levels of customers shopping around and switching; limited transparency; barriers to entry and expansion and high levels of concentration. The CMA is concerned about linkages between business current accounts and loans and personal current accounts. Drawing its inspiration from the UK model, Malaysian competition law also includes a market review function. The Malaysian Competition Commission may of its own initiative or at the request of the minister, conduct a market review to determine whether any feature or combination of features of a market prevents, restricts or distorts competition.
Interchange Fees EU and national competition authorities have maintained their scrutiny of the level of interchange fees imposed in four-party credit systems. This is a long running debate where initial competition concerns arose due to the ‘multi-lateral’ nature of setting interchange fees among competing banks. A number of cases have been brought and appeals presented, which have subsequently been overturned, leading to hefty fines being imposed. Investigations are still ongoing into cross-border rules and inter-regional interchange fees.
Standardisation The need to balance pro-competitive standardisation and potential harm to competition is a familiar challenge when applying the competition law prohibition on restrictive agreements. This balancing exercise is not unique to the financial services sector and a similar process was apparent in a case where the major banks sought to develop technical interfaces for online payments. This illustrates some of the challenges in distinguishing pro-competitive and harmful effects which will be familiar to all companies seeking to ‘self-assess’ their agreements for competition law compliance. Since May 2004, it has not been possible to notify an agreement to the Commission to obtain upfront comfort that the agreement is compliant with competition law. Continued On Page 35
Cover Story
Staying SAFE Security attacks are on the increase - both in the physical and cyber world. Aside from the ever present threat of terrorism, cyber crime is fast becoming one of the leading causes of concern. Systems once thought to be secure are being hacked with national, corporate and personal data being stolen - worse still made public. With each attack more deadly and disruptive than the last, governments and organisations everywhere are scrambling to shore up their defences and protect their assets. Selecting the right security solution and getting the right advice is paramount. Turn the page to read more.
Issue Issue33--2015 2015
17
Cover Story
A core element of BAE Systems’ EPS solution is Zero Day Prevention, providing customers with the most advanced protection from today’s sophisticated threats. The technology is based on and pioneering techniques which analyse the email in the cloud for malicious content and intent, before it reaches the recipient.
SAFETY In The Cloud T
he majority of cyber attacks - 95 percent in fact - start with an email message. And 70-90 percent of malware is unique to any single organisation, meaning the most difficult attacks to defend against are Zero Day attacks - those that are unknown or have not previously been seen and so require advanced defence. These alarming statistics highlight the continuing critical need for robust protection against cyber threats. One organisation that has been protecting the digital assets of more than 5,500 companies worldwide is BAES Systems’ security business, BAE Systems Applied Intelligence. The Applied Intelligence business is part of the global major BAE Systems which has had a presence in Malaysia for over 30 years and a regional hub based in Kuala Lumpur. BAE Systems Applied Intelligence employs over 275 people at its Global Engineering Centre in Kuala Lumpur which focuses on local delivery and support of the company’s cyber and financial crime detection services. Its intelligent protection solutions combine large-scale data exploitation, ‘intelligencegrade’ security and complex services and solutions integration. Leading enterprises and government departments use its solutions to protect and enhance their physical infrastructure, mission-critical systems, valuable intellectual property, corporate information, reputa-
18
Issue 3 - 2015
tion and customer relationships, competitive advantage and financial success. Operating in four key domains of cyber security, financial crime, communications intelligence and digital transformation, its latest offering, now made available for the first time to commercial clients in Malaysia, is a suite of cloud-based protection solutions. Nick Turnbull, Director, Cyber Security, Asia, BAE Systems Applied Intelligence, says the move is In line with its ongoing commitment to strengthening the cyber security landscape in Malaysia. Companies in Malaysia can now access an augmented security offering of on-premise and managed security services with the new cloud-based solutions. This is a natural progression to meet high customer demand for a wide and flexible portfolio of cyber security solutions, says Turnbull. The first set of cloud-based products that BAE Systems is introducing in Malaysia is its Email Protection Services (EPS) service which provides comprehensive protection against advanced threats.
Additionally, one of the biggest risks to businesses is the threat of employees who accidentally or purposefully leak data. Most companies are unprepared for this kind of incident yet with the Insider Threat Prevention service, it becomes easy to find and investigate insider issues. “For Malaysian businesses and their workforce, a focus on cyber security is arguably the best defence companies can employ against the current wave of attacks on their critical assets. By introducing Malaysian companies to cyber attack protection in a way that is easy to buy, consume and manage, we aim to help protect companies against today’s most sophisticated threats,” says Turnbull. "Not only can cloud-based services be delivered within short timescales - dealing with threats almost immediately - but also, companies will also have the ability to scale their security up or down, as required, making them more agile in their response.” In Malaysia, BAE Systems has been instrumental in deploying cyber security expertise and capability in close partnership with local organisations and authorities. As testament to this commitment, the firm was recently named “Cyber Security Outreach Provider of the Year 2015”. The award was received in recognition of the the company’s role in improving the understanding and importance of information security amongst businesses and the wider public in Malaysia. BAE Systems has also recently signed an MoU with CyberSecurity Malaysia to establish a general framework for potential collaborations in the field of cyber security and is funding a post-graduate programme in Cyber Security at the National Defence University of Malaysia.
•
Email Archiving
The launch of its cloud-based portfolio is just one part of its ongoing commitment to strengthen the cyber security space in Malaysia. “We have been doing some very impactful work in Malaysia particularly through our expanding workforce at the Global Engineering Centre, as well as committing to local alliances and partnerships,” said Turnbull.
•
Email Business Continuity
www.baesystems.com
Features include: •
Zero Day Prevention
•
Insider Threat Prevention
•
Email Data Loss Prevention (DLP)
•
Email Encryption
•
Email Anti-Virus and Anti-Spam
Cover Story
Going MOBILE: What Price Data Security? By William Dawkins & Jane Teh, Reds11
I
t is hard to imagine that the internet has only been around in its current form since the mid-1990s. Since then, it has touched almost every facet of our lives. Even the smallest of companies can now have a global reach; we can video conference and message each other on the move, household appliances can update themselves, we can shop and buy from a global marketplace, and mobilise international movements remotely!
Coincidentally, the first mass-produced user-friendly mobile phones hit the market around the same time. Chunky and heavy, they were mainly used for text messaging and phone calls. The first consumer internet-enabled phones were released as far back as 1996, from which time mobile companies have been merging computers, phones, cameras, GPS systems, media centres into a single device. Never has so much personal, sensitive and confidential information been carried around or transferred over invisible wireless networks. And with the evolution of mass remote storage, everything we save on any device can potentially be accessed from our mobile phones.
How Secure Is It? There have been some well-publicised phone hacking scandals involving, among others, the British press, who accessed voice mails through default pin numbers that users never changed when setting up their voicemail. Other methods include spoofing and changing a phone caller ID number to that of a
hacking victim: when a call to the number is made, the network assumes it is the legitimate caller and routes to voicemail, allowing the caller to listen to messages and change settings. Mobile phone companies have implemented extra security layers but by simply setting a voicemail pin number, it is possible to prevent hacking by unauthorised users. Password Protection: All phones can be set to auto-lock after a pre-defined time; users can set a login password which must be entered to start using the phone again. Wireless Data Connections: Hackers can gain access to mobile phones through wireless connections or Bluetooth; users should disable wireless connections when they are not being used to prevent data theft. AutoFill: Web browsers often have an option to remember passwords, usernames and commonly used fields such as address details. AutoFill should be disabled to prevent unauthorised access to personal data. Cookies & Cache: Cookies and cache store elements of visited webpages to provide a faster browsing experience; some of this stored information can relate to shopping and browsing habits. Cookies automatically send information to websites, which then send targeted advertising relating to past shopping/browsing habits. This information can also be accessed by other users, either remotely or if they have physical access to the device. Users can turn off cookies and should regularly empty their internet cache. Encryption: There are third party applications which can encrypt some data types and even remotely wipe a mobile phone memory if it is stolen. Malware: Malware can be added to applications or message attachments to collect personal information such
as credit card/password details and email them to a remote user. Users can install anti-malware software and avoid installing applications from unofficial sources. GPS Tracking: A number of phone manufacturers allow the setting up of tracking via GPS which displays the location of a phone in real time; a user can send a message, wipe the phone or alert the authorities to the phone’s location. Mobile Phone Forensics: It was widely recognised that mobile phones were being used for criminal activity but it wasn’t until the development of smart phones around the early 2000s that mobile forensics branched out from general computer forensics to form its own specialised branch of forensic investigation. Mobile phones use unique interfaces, file systems, and language for each device type. Originally forensic officers would examine messages, phone logs and address book information but with the development of smart phones and the sophisticated software used, forensic tools and techniques have evolved. These now include investigation of: GPS/ location data, images, sound files, videos, internet cache and logs, hidden messages/ data, retrieving deleted information, examination of header files showing when applications were accessed and email logs.
Taking Precautions The huge benefit that mobile technology provides versus the threat against our personal information is a situation that each individual needs to assess for themselves. For most of us, a few sensible precautions to secure our information is all that is needed for us to enjoy using our mobile devices. We can communicate across the oceans, access unlimited information, and manage our businesses and personal life with little real risk. For highly sensitive information such as business mergers or stock flotations, adequate steps must be taken to secure data being held, whether through industrial encryption or by stopping data from being accessed or sent to mobile devices.
www.reds11.com Issue 3 - 2015
19
Cover Story
CRITICAL National Infrastructure
“Increasingly companies want a single provider that can manage a broad spectrum of business risks and address the security complexities of their specific CNI project.”
Critical national energy, transportation and telecommunications infrastructure is the driving force behind continued prosperity and economic confidence for all nations, whether developed or emerging. Ensuring this infrastructure is protected is therefore of paramount importance. This article takes a closer look.
W
ell-planned and executed investment in infrastructure offers developing economies the ability to compete in the global marketplace. Therefore infrastructure, the underlying foundation on which the continued growth of a community depends, is critical for all countries at all stages of their development. No more so is this recognised than across the Asia and Middle East regions where a McKinsey & Co insight report has assessed that governments and the private sector will commit over US$8 trillion, by 2025, to building new Critical National Infrastructure (CNI). Critical National Infrastructure, by its very nature and name, is of national importance to governments who spend significant capital, or invite private sector investment, to fuel and boost economic growth and ensure the well-being of their citizens. Protecting these investments for the state is a priority; appropriately securing these assets therefore forms a major part of each infrastructure project or operation.
Global economic and threat drivers are continually changing and with them, the demands on, and risks to infrastructure such as, airports, seaports and oil & gas facilities are also continually changing. Effective critical infrastructure protection security is increasingly a global economic imperative because in today’s interdependent global economy, international trade and travel is more reliant than ever on the effective security of our vast interconnected infrastructure networks. The challenges of securing these Infrastructure networks are numerous, and need to be effectively and efficiently managed. G4S works closely with its CNI customers, both government and private sector, to successfully address and overcome these challenges. The company acts much more as an integrated partner, rather than merely as a service provider, because the success or failure of a transport, energy or communications facility increasingly comes down to the strength and quality of its procedural and technical security systems.
In this regard, G4S clients value the firm’s comprehensive capabilities in logistics and technology, its experience in managing the world’s biggest security personnel workforce, and the ability to address security challenges in a way that creates opportu- nities to manage assets more efficiently, cut costs and deliver a better enduser experience. Companies are increasingly aware that the cost of any security systems breach goes beyond the short term vulnerability of personnel, goods and critical assets, because in the long term a failure can have more far reaching consequences for a nation’s reputation or company’s brand. Cognisant of this, G4S adopts a proactive, responsive and flexible approach, taking the time to understand the specific security and business risks that its clients face. It advocates a holistic approach that does not just focus on one aspect of security in isolation. Rather, it works and consults closely to manage risk from conceptualisation through to the implemen tation and operational management of a CNI project, Continued opposite
20
Issue 3 - 2015
Cover Story
Are You CyberSAVVY? User safety in the digital environment depends on a number of factors. Most important of all, it depends on the user’s ability to make the right decisions. Online habits can help protect digital identity, money and personal data, or it could make it all easy prey for criminals. It all boils down to being cyber savvy.
A
ccording to the annual Kaspersky Lab Consumer Security Risks Survey 2015, users are increasingly worried about cyber threats and are also storing more personal information on their devices, but they are not becoming more careful.
looking at every aspect of the security risk exposure in an “End to End” solutions approach. Organisations continue to innovate to keep up with changing risk and financial demands. As such, they expect the same of solutions providers. Increasingly, companies want more than just a traditional manned security offering. They want a single provider that understands the big picture, can manage a broad spectrum of business risks and can address the security complexities of their specific CNI project or operation. In this regard, G4S is leading the way in providing “End to End” solutions for Critical Infrastructure Protection. In Malaysia, Security Services are provided by Safeguards G4S Sdn Bhd which is a subsidiary of G4S Plc, and employs approximately 8,000 staff with a branch network of 31 branches nationwide. Its core services include provision of Manned Security Services, Electronic Security System Services, Cash Solution Services and Risk Management Services. This article was written by David Fairnie Jonathan Tedd Director Integrated Security Solutions G4S South East Asia Email: jonathan.tedd@ame.g4s.com
www.g4s.com.my
For example, the percentage of respondents ready to enter personal or financial data on websites that they are unsure of has even increased slightly since 2014 – from 30 percent to 31 percent. Meanwhile, the number of users who are convinced they will not be targeted by a cyberattack has jumped from 40 percent to 46 percent. At the same time, Internet users often do not recognise a potential threat when they encounter one. That is the result of testing conducted by Kaspersky Lab involving 18,000 people worldwide.
“Only
24% were able
to identify a genuine web page without also selecting a phishing page.” The test sees respondents confronted with several potentially dangerous situations that occur regularly on the Internet when surfing the Web, downloading files or viewing social networking sites. Each scenario offers a choice of several answers. Depending on the possible negative consequences, each answer is assigned a score – the safer the user’s choice, the higher the score, and vice versa.
During testing only 24 percent of respondents were able to identify a genuine web page without also selecting a phishing, or fake, page. Some 58 percent of those surveyed selected only phishing sites designed to steal people’s credentials without choosing the genuine page. On receiving a suspicious email, every tenth user is ready to open the attached file without checking it. Another 19 percent would disable a security solution if it suddenly tried to prevent the installation of a program because it could be dangerous. “It’s all about self-preservation. In the real world we know how to reduce the risk of money or property loss: we’ve learnt about it from an early age. When we’re offline we’re always on guard, but when it comes to the Internet the self-preservation instinct often fails us. And, of course, today everything has a digital format: our personal life, intellectual property and money. “All this requires that we adopt the same kind of responsibility as in real life, and the cost of making a mistake online can be just as high. That’s why we encourage everyone to evolve with technology and improve their cyber savviness,” warns David Emm, Principal Security Researcher at Kaspersky Lab. (Source: www.interneteverywhere.my)
Download the full report here: http://www.interneteverywhere.my/ wp-content/uploads/2015/10/Kaspersky_Lab_Consumer_Security_Risks_Survey_2015_ENG.pdf
Representatives of 16 countries scored an average of 95 points out of a possible 150. This means they only chose the safe options in half of the hypothetical situations; in the remaining situations they exposed themselves to the risk of unpleasant consequences such as a confidential information leak, for example.
Issue 3 - 2015
21
Cover Story
ENERGY Security More Than Protecting IP & Data
The profile of cyber-warfare and cyber-security has been raised and prioritised as a top national security threat in numerous countries, among them the UK, US, China, Israel, Iran, South Korea and Singapore. Jane Teh of Reds11 looks at the implications for the energy industry. AWARENESS
MOTIVE
All of these countries have come under covert or targeted cyber-attacks from cybercriminals, other nation’s governments or organised hacktivists from around the globe.
Cyber-attacks on oil & gas infrastructure are no longer just about pilferage of intellectual property and sensitive data. There’s a growing trend of visible attacks, attracting widespread public and media interest, in order to demonstrate the intentions and motives of the cybercriminals.
As such, their governments have demonstrated the urgency of taking action towards protecting their national energy, telecommunications and wider infrastructure, which are relied upon heavily and critical to a functioning society. It would also be wrong to assume to that it is only government infrastructure and departments that come under regular cyberattacks; in fact cyber-attacks on the oil & gas industry in the Middle East have been increasing since 2009 and continue to do so. For example, the Singapore Government is expected to invest US$215 million by 2023 towards establishing a cyber-warfare unit to defend national assets and interests, and launch counter-attacks if the need arises. Universities have received funding to promote cyber-security degree courses to close this specific skills gap and build a generation of cyber-troopers. South Korea also came under cyber-attacks from North Korea in 2009 and again in 2011, leading to South Korea investing significant sums to train 5,000 cyber-security experts by 2017 in response to North Korea’s 3,000 strong cyber-warfare unit.
Motives for launching cyber-attacks on oil & gas facilities can range from any number of reasons including competitive advantage, political or racial. Since 2009, major global oil & gas production and contracting companies have been the subject of targeted cyber-attacks, in which they have been infected by malware, viruses, worms and Trojans. At least one of these organisations has also been the subject of physical attacks with the aim of disrupting supply chains. In 2013, the networks of a US oil company on several rigs and platforms were incapacitated due to malware downloaded by workers. Two months later, cyber-attack attempts from Iran failed to compromise industry IT networks, the aim being to destroy data and take control of critical Industrial Control Systems (ICS).
MODUS OPERANDI Previously, the pattern of cyber-attacks on the oil & gas industry was to obtain proprietary information, strategic plans, investments, company handbooks, bids tendered for new drilling acreage, geological data and details of private negotiations.
Examples of this type of pilferage include the ‘Night Dragon’ campaign launched by China-based hackers to obtain confidential data from five major western energy companies during 2008 and again in 2011. The haul comprised gigabytes worth of sensitive material, such as financial transactions, bid data and proprietary information on field operations and production. The trend now is to sabotage production and operational processes by introducing viruses, malware and worms through employee USB devices, laptops and browsers. The virus named ‘Shamoon’ (see panel) was programmed to swipe-and-wipe out the network of a major national oil producer in the Middle East. The virus infected some 30,000 PCs, where it corrupted files, including Master Boot Records (MBR) which rendered infected computers unusable. The virus further damaged machines by preplacing stolen data with images, to prevent ultimate file recovery. In another case, worm attacks replicating and DNS cache poisoning attacks were directing IP addresses to the attacker’s site where the perpetrators planted a backdoor onto the infected machines. Similarly, viruses were introduced into network systems, causing connected PCs to infinitely loop reboot and never reach the start-up windows screen. According to Kaspersky Lab, targeted attacks cost US$2.4 million in damages with attacks via browsers being the primary method for spreading malware. Kaspersky further detected 1.2 million PCs in the UAE infected by net-borne malware, and 17.4 million PCs with the majority being infected by malware spread via USB and CD/DVD.
RESIDUAL RISKS Due to the increased integration of systems used in on- and offshore oil & gas communication networks, production control and reporting systems, it is best practice to secure these assets with the latest security features and industrial systems patched by vendors. With cyber-attacks targeting RATs, SCADA and ICS systems on the increase, oil & gas firms should consider raising security profiles and implement security preparation, as damages inflicted can be significant and substantial. Continued opposite
22
Issue 3 - 2015
Cover Story
“Since 2009, major global oil & gas production and contracting companies have been the subject of targeted cyber-attacks, in which they have been infected by malware, viruses, worms and Trojans.” Aspects to consider include: •
Web Applications, Networks & Servers
•
Windows OS Vulnerabilities
•
RATs (Remote Admin Tools)
•
SCADA (Supervisory Control & Data Acquisition)
•
ICS (Industrials Control Systems)
•
Stringent BYOD policy for employees
•
Cyber-Security awareness training for employees ie identification of how social engineering, phishing, malware, viruses, Trojans etc are introduced
•
Physical protection for pipelines, refineries, rigs and platforms.
www.reds11.com
SHAMOON The ‘Shamoon’ virus (meaning ‘Simon’ in Arabic - the author’s name) has similar characteristics to the ‘Wiper’ virus that swept through Iran in April 2012. Shamoon has three distinct components: Dropper, Wiper and Reporter. At each component stage, the virus gathers, destroys and retrieves information for the attacker. The Dropper initiates itself as services to be run on Windows startup, copies itself to shared networks or servers and infects linked on/offline PCs that are connected to the infected hosts. It carries and drops the other two components (Wiper and Reporter) onto infected PCs and networks to collect files. It spreads itself into file systems and hard disks, where the Wiper changes the Master Boot Record (MBR) to deem the hard disk unusable. It also collects, wipes and sends the stolen files back to the attacker. The Wiper component replaces all stolen files with corrupted images to prevent any attempt of file recovery and erases tracks of the attacker. The Reporter then sends information about the extent of the infection back to the attacker’s computer.
Farm To FORK Enhancing trust in food is a growing concern in a climate where public confidence in food producers, processes and sellers – even government regulators – has been rocked by many high-profile scandals.
U
nless you are lucky enough to have direct access to organic farm produce, or you ‘grow’ your own, chances are by the time the food reaches your plate, it has been on a long and multi-stage journey. Food production of even seemingly ‘simple’ goods such as fruits and vegetables is a complex and sometimes murky web of global supply chains. When horse meat was passed off as minced beef and sold to people all around the world, it sparked an international scandal that shocked consumers and continues to affect the food industry to this day.
Customers are demanding more and the implications for missing the mark are costing dearly from both a revenue and brand perspective. A more coordinated and strategic approach is needed, one that takes a holistic view to identify, monitor and mitigate weak links in the supply chain from farm to fork. The world’s leading food companies are going well beyond the standards required for compliance to improve their processes and gain a competitive edge. They show more resilience and agility and are better able to reduce their exposure to costly
Rarely a week goes by without news of yet another food safety or quality concern. From genetically engineered contaminated crops, bacteria-laden peanut butter, counterfeit wine, incorrect product labelling, cocoa shortages, sustainability and ethical issues – the industry has never faced more challenges. A similar shockwave to the horsemeat scandal surged across the globe when baby milk formula originating from China was found to contain melamine, a harmful substance not designed for human consumption. Trust in food has been destabilised, and as such, people want to know more about the food they’re eating and feeding to their families. They no longer trust so readily and question more – now dramatically empowered by the worldwide exposure that can be achieved with social media. It’s a public health concern, a significant political issue and a substantial risk for food companies and governments that get it wrong. Regulatory risks are increasing and supply chains are becoming more complex, deeper and harder to track.
scandals that may otherwise damage their reputation, or even threaten the very viability of their business.
What Can Be Done? A number of measures are available to manufacturers to help them build reslience while remaining competitive. Organisations such as PwC bring extensive expertise to the table in this area. Building Trust: Developing a focus on food safety culture and compliance to give consumers confidence. Food Supply Chain: Profiling to identify and quantify vulnerability and risk in the supply chain Food Safety Systems: Implementation of traceability tools to increase resilience and confidence Regulatory: Deploying risk monitoring solutions to ensure compliance Sridharan Nair - Managing Partner, PwC sridharan.nair@my.pwc.com
Issue Issue33--2015 2015
23
Cover Story
Data Crisis Response Access to advice/other services of legal or communications advisor(s) on how to handle an actual or suspected security breach or hacking event.
Insuring RISK M
any in the cyber security world are referring to 2015 as yet another “year of the breach” with high profile events occurring at Anthem, approximately 100 worldwide banks, Japan Airlines, the US Government, Sony and most recently, Ashley Madison.
These incidents all demonstrate the ongoing ability of hackers to infiltrate security systems (no matter how strong) and highlight the massive costs and disruptions that result from a cyber-security incident in which data is stolen. While cyber-attacks continue to be a significant exposure for retailers, healthcare companies and financial institutions (all of whom have large amounts of personally identifiable information), these companies do have the ability to transfer this risk via cyber insurance policies. As the pace of technological innovation continues unabated, organisations are increasingly reliant on computer networks and the data stored therein. The pervasive phenomenon known as “The Internet of Things” brings into focus the interconnectedness of tangible and intangible assets. Concurrent with this evolution, organisations must consider a shift in exposure to risk and loss, including potential repercussions in the event of a breach of critical network infrastructure. Much of the media focus has been on breaches of private records and information, while other industries – like manufacturing, energy, and utilities – are also at risk from cyber-attacks. These industries have long been networked through industrial control systems (ICS), like supervisory control and data acquisition (SCADA) systems, which monitor and control industrial processes. These open systems now tie together once decentralised facilities; the systems
24
Issue 3 - 2015
were primarily designed for ease of operation and repair – security of these systems was a secondary consideration at best. The last decade has seen a number of highly publicised and costly cyber incidents which have impacted organisations across the globe, and more importantly across a range of industry sectors. Cyber risk is now widely accepted as being one of the top emerging risks for organisations to address and manage. Cyber Insurance can provide cover for a variety of threats. In evaluating different cyber insurance options, it is important to consider the scope of cyber risk as follows: Where?
Online/Offline
How?
Malicious or Accidental; Internal or External
What?
Technology/Media/Data
Organisations in the energy sector could suffer a variety of losses emanating from a cyber incident ranging from business interruption to disclosure of confidential information to third party liabilities/defence costs. As this digital landscape develops, experts predict that cyber risk will expand from pure data loss to incorporate physical damage more and more. So, is there coverage for cyber incidents in traditional insurance policies? No two cyber insurance policies cover losses in exactly the same way; but, the scope of available insuring agreements is as follows: Third Party Liability & Defence Costs Coverage for defence costs and damages for third party liability arising out of an actual or alleged failure or violation of the security of a computer system or network. Includes coverage for vicarious liability. Cyber Extortion Monies paid in accordance with legal requirements to terminate the security threat, includes ransom amount, negotiation, mediation and crisis management costs.
Electronic Data Reconstitution Costs to determine restoration, recollection and recreation of electronic data after an unauthorised use or access to a company’s or outsourcer’s computer system. If possible to restore, recollect or recreate electronic data, coverage includes associated costs. Media Content Liability Coverage for third party claims alleging libel, slander, copyright/trademark infringement, invasion of privacy, etc. arising out of alleged or actual act, error or misstatement of content distributed by or on behalf a company. Network Interruption Coverage for loss following an interruption, suspension or slowdown of business. Loss includes net income and continuing normal operating expenses. Notification & Monitoring Costs Costs and expenses to disclose/notify a security breach or hacking event to the affected individuals and corporations (includes identity theft education and credit monitoring costs). Data Security Standards Assessments Monetary assessments from Card Associations (Visa, MasterCard, etc.) or credit card issuing banks for non-compliance with Payment Card Industry Data Security Standards which resulted in a breach of information. Pro-active Forensic Services Costs and expenses to determine if a security breach or hacking event is occurring/ has occurred, why it occurred, and how to prevent or reduce the security breach/ hacking event in the future. Regulatory Liability & Fines Costs and expenses for legal advice and representation in connection with an investigation by a Data Privacy Commissioner (or equivalent); Includes coverage for fines to the extent allowed by law. Reputation Repair Costs and expenses for Public Relations consultants to help reduce damage, after an alleged or actual security breach or hacking event. By Susan Leung, Account Manager, Financial Lines Group, JLT Asia Email: enquries@jltasia.com
www.jltasia.com
Cover Story
Security In REAL-TIME E
very day we read reports of crimes occurring, each one a vivid reminder that society is no longer a safe place. Burglaries, vehicle theft, bag snatching and more.
Monitoring agents located at these centres provide real-time round-the-clock ‘protection’. Currently numbering 60 in total, all of them are fully vetted and trained in accordance with best practice methods.
Many people invest – in some cases significant sums - in security systems in the hope that this will be an effective deterrent to would-be criminals and help catch the perpetrators in the unfortunate event of an incident. However, such systems are only able to play a ‘passive’ role, alerting owners or authorities after the fact by which time it is too late.
In the event of a potential threat or intrusion, these agents are able to see from the network database which is the closest police to the premises in question and request immediate assistance. In conventional situations, a call to the emergency services – usually made after the event - goes to a call centre and then has to be routed to the relevant local police station – all adding stressful amd costly delays.
Recognising the need in the market for a system that would bridge that gap and play a proactive and preventive role, innovative engineers from Panther911 have developed a first-of-its-kind system that offers true real-time monitoring with active deterrent and immediate response features. Panther911 is fully owned by DIGISTAR Corporation Berhad, a Malaysian public listed company incorporated since 1982, with more than 30 years track record in the technology sector. Established in 2014, Panther911 is one of the few organisations to have obtained the required licence from the Ministry of Home Affairs to operate a security monitoring business. The system is controlled from one of six central command centres located around the country in Penang, Kuala Lumpur, Melaka, Johor, Sabah and Sarawak.
A formal MOU has been signed with the Royal Malaysian Police Force, ensuring that any call for assistance from one its command centres will be adhered to immediately. A ‘live command loudspeaker system’ is also used which enables the monitoring agents to ‘communicate’ directly with the premises, a system that is extremely effective in deterring potential intruders. As Panther911 COO Ace Wong says, “This overcomes the issues that conventional systems generally face: it means action can be taken even before a crime has been committed. Additionally, one of the most annoying aspects of conventional alarm systems is false alarms, with sirens going off at all hours and disturbing the neighbourhood. With this system, that doesn’t happen.”
The technology behind the system, which is proprietary to Panther911, features high definition video capture which is hypercompressed and stored on a cloud network. Because of the state-of-the-art compression technology used, the system will run on infrastructure with speeds of as low as 1Mbps. The system can be deployed at residential properties or business premises and can also be used to provide protection for elderly family members or children. Similarly, it provides an effective method of monitoring and tracking company vehicles. “Our system is available on a subscription basis, so customers are able to protect their homes, businesses and families without worry and without incurring high costs for expensive equipment,” says Ace. Integration with existing systems is also possible. The company has made impressive headway in the short time since launching and is already providing protection for more than 5,000 customers and counting. It is planning to introduce additional services to the portfolio in the near future, including personal security devices for individuals. In the event of a threat, an alert is sent to the command centre to enable assistance to be deployed. “It’s peace of mind for everyone, knowing that they, their family and their property are being protected.”
www.panther911.com
Issue Issue33--2015 2015
25
Cover Story
Protecting PEOPLE To FUEL Growth I
n today’s fast-moving competitive world, companies are increasingly sending employees on international assignments to fuel business growth around the world.
Financial Protection
With the ever-present threat of terrorism and soaring crime rates, employees need to be safeguarded when they travel overseas. Employers could be exposed to financial, legal and reputational risks if an incident were to happen that endangers or harms their employees.
Global, 24/7 Support
The recommended approach to minimise such risks and costs is for companies to adopt a proactive approach to health and risk management. This means that a large part of such an approach is dedicated to mitigating risks to prevent an emergency situation from occurring. This includes all preparation and education-related services prior to travel as well as on-going advice and information while on business trips or assignments overseas. To ensure effective and safe business travel and provision of duty of care to employees, there are three key pillars that must work hand in hand.
Corporate HR Policy Appropriate Human Resource policies must be in place to prepare travellers and international assignees before travel and while on assignment. Pre-travel preparation, education, online learning, vaccinations, etc. are important topics to be covered in the policy.
Mitigating financial exposure through Business Travel Insurance and International Assignment Policies. But mere insurance is not sufficient. When you are caught in a flood in the Philippines or meet with a car accident in China, you don’t say “thank goodness I have insurance”. The first thing you and your employees need is “Where can we get help? Where can I seek the right medical treatment?” Having a global network of accredited providers, 24/7 advice and assistance is essential to provide a lifeline to employees. International SOS, the leading medical and travel security risk services company, offers Comprehensive Membership that provides travel risk mitigation by preparing your globally mobile workforce before departure, advising them while away and assisting them should the unexpected happen. “With more than 11,000 employees globally, led by 1,400 doctors and 200 security specialists, our expertise is quite unique. We are passionate about protecting our members across the globe which we do from more than 850 locations in 92 countries. We deliver unrivalled emergency assistance during critical illness, accident or civil unrest,” says General manager David Ng.
Pre-Travel Going to a foreign destination can seem daunting. However, with the right pretravel advice, you can better prepare your travellers for what lies ahead. It is important for travellers to have access to both medical and security information.
Medical information on destination such as recommended vaccinations, overview of standard of health care, any disease outbreak, pandemic information, etc. Security information should include terrorism threats, petty and violent crime, kidnapping risks, natural disasters, rule of law, any public demonstrations in the vicinity to avoid, and so on.
During Travel Personnel should stay alert to be aware of unexpected changes likely to affect security risk levels. This can be achieved using International SOS mobile apps. Employees can seek medical and security advice when needed by calling into the 24/7 assistance centre. Practical help is just a call away using mobile apps.
During Emergency Should the unexpected happen, centralised logistics, local expertise and standby resources on the ground ensure employees are cared for or even evacuated if necessary.
www.internationalsos.com
26
Issue 3 - 2015
Issue 3 - 2015
27
New Members
A warm welcome to our new members! K-PINTAR Sdn Bhd Leading human capital solutions provider, founded in 2002, with emphasis on globally-recognised certification courses. Upskilling and reskilling the workforce in four main areas: Executive Development; Professional Certification; SME Capacity Development and Graduate Capability Development. Comprehensive range of programmes, targeting specific needs in the workforce, with proven results in creating dynamic, flexible and knowledge-rich personnel. Affiliations with globally-recognised market leaders in learning and development include Cranfield University (UK), European School of Management & Technology (Germany), Australian Human Resource Institute, The CEO Institute (Australia), SAP (Germany), Prosci (USA), IIBA (Canada), among others. Strong presence in the industry, having served over 2,000 clients from all sectors, locally and internationally. Suite C-16-6, 13th Floor, Wisma Goshen, Bangsar Trade Centre, 59200 Kuala Lumpur. Tel: +603 2284 4148/43/46 Fax: +603 2284 4175 www.kpintaracademy.com R.A Thiagaraja - Chief Executive Officer
Network Platform Sdn Bhd Primarily a Building Services, and IT Systems Design & Project Management Consulting company. First established in Malaysia in 1999 with major project involvement since on: KLIA Main Terminal Building, TM Head Office Building, UNIMAS Sarawak, Schlumberger Control Center – Cyberjaya, British Council, Multi Media University, UTM, The Curve Shopping Centre, Kulim Wafer Fabrication Plant, Philip Morris – Seremban. Offshore arm Project Resources & Investments Ltd, has successfully undertaken projects in: Thailand, Vietnam, Philippines, East Malaysia, Qatar, and UAE. New division recently set up to offer representation service in Malaysia, SE Asia, and Middle East, directly or through network of collaborative partners. A-6-3 Plaza Mont Kiara, 50480 Kuala Lumpur. Tel: +603 6203 4200 Fax: +603 6204 2682 Email: carl@hutchinson1.com www.pro-ce.solutions Carl A. Hutchinson
GrabCar and GrabCar+ App-based car with driver service, powered by the MyTeksi mobile appplication. GrabCar (Economy) offers casual rides for daily usage while GrabCar+ (Premium) is a premium service for passengers who want a more luxurious experience. GrabCar and GrabCar+ completements MyTeksi current service offerings by fulfilling unmet demand during peak hours. Renault Buildings, Lot 1A, Jalan Kemajuan, Seksyen 13, 46200 Petaling Jaya. Tel: 1300 805858 Email: support.my@grabcar.com
Reds11 Training & Consulting Providing unique bespoke consultancy solutions for clients by fostering a culture of innovation, critical thinking and problem-solving skills across business sectors. Solutions include Education & Corporate Training, Cyber-Security & Digital Forensics, Security Risk & Investigations, Business & IT Planning, Technical Writing, Marketing, Multimedia, Translation & Transcribing and more. Cyber-Security experts with wide experience of serving clients in Europe, China, Germany, Malaysia and Brazil. CEO is a contributing research author for University of Greenwich’s Forensics Councils publications, providing articles on latest threats and trends in fields of Cyber-Security and Digital Forensics. Tel: +6012 356 3147 www.reds11.com William Dawkins - Director
TEASPEC Pte Ltd Owner of one of the largest and most important collections of Pu’er tea in South East Asia and noted for its aging of this classic tea in Malaysia which has one of the best climates for this process. Owner Carole travels to the mountains of Yunnan to learn about this highly valued Chinese tea from the masters and shares her knowledge at conferences and at talks at universities about the benefits and pleasure of drinking Pu’er regularly. Actively engages expatriate communities to bring the appreciation of Pu’er beyond the Chinese tea-drinking demographic. Also specialising in uniquely designed Pu'er tea corporate gifts. Tel: +6012 299 3669 www.teaspec.com Carole Tan - Owner & Director
28
Issue 3 - 2015
New Members
The Weststar Group One of the largest conglomerates in South East Asia, comprising ten subsidiaries with core businesses focused on aviation and automotive sectors. Weststar Aviation Services: provides offshore helicopter transportation services to some of the world’s largest oil & gas companies; Weststar Maxus: forged strong ties with SAIC in China to distribute Weststar Maxus range of vehicles; Weststar Auto: one of the largest Honda dealers in Malaysia; Global Komited: major supplier and fabricator of defence vehicles and equipment. Also holds business interests in other industries including construction, properties and insurance. Level 6, Menara Weststar, Dataran Weststar, Jalan Lingkaran Tengah II, 68000 Ampang. Tel: +603 4102 2222 Fax: +603 4105 5822 Email: corporate@weststar.com.my www.weststar.com.my Dato’ Nik Hamdan Nik Hassan - Group Senior Vice President - Automotive
Kaplan Training accountants and finance professionals for over 70 years and preparing over 45,000 trainees a year for their exams. Approved provider for ACCA, ICAEW, CIMA and CIPFA qualifications, experienced in delivering tailored content to help trainees study, learn and achieve professional accountancy qualifications. Trains over 80 percent of all chartered accountants, achieving pass rates consistently above global averages. Offering range of flexible study options, enabling trainees to study from multiple locations with live lecturer support, helping to minimise time off, travel time and costs. Range of tailored client services to support employers wanting to offer structured training programmes for trainees. Suite #323, MBE GTower, G-02A, GTower, 199 Jalan Tun Razak, 50400 Kuala Lumpur. (Registered office) Tel:+65 6309 5973 and +44 (0)1612 590259 +44 (0)1908 540057 Email: malaysiaenrolments@kaplan.my and calum.shepherd@kaplan.co.uk www.kaplan.my Calum Shepherd - International Client Relations Manager
Asiaspace Sdn Bhd Incorporated in 1996 and in April 1998 awarded licences by Malaysian Communications & Multimedia Commission to undertake building of telecommunication towers for sharing on a rental basis by telcos (Digi, Maxis, Celcom, U Mobile, YTLC, P1 and others), saving significant costs for the Telcos. Currently has some 178 towers are on air throughout West Malaysia rising to more than 200 towers on air by end 2015. Also involved in provision of access to internet services in conjunction with YTL Communications Bhd. Recently launched e-commerce company called , an online sales platform available to any company to be able to display its products at a cost of RM20.00 per month with RM2.00 per transaction payable to Asiaspace. Current gross revenue per annum: RM42 million. Unit 2-1-2, Bangunan AHP, Jalan Tun Mohd Fuad 3, Taman Tun Dr Ismail, 60000 Kuala Lumpur. Tel: +603 7725 5902 Fax: +603 7725 5903 Email: dghani@asiaspace.com.my www.asiaspace.com.my Datuk Abdul Ghani Abdullah - Chief Executive Officer
Select Visa Services Specialising in provision of full range of UK Immigration Solutions to help individuals and corporate clients obtain their UK Visas and licences on time and in compliance with UK Immigration laws and regulations. Assists many international companies to obtain UK sponsor licences /relocate employees/ extend visas and a host of other UK visa requirements. OISC-registered. Offering competitive rates and fast turnaround times. Seeking international partners in relocation and immigration. Tel: +44 (0) 7534 917702 Email: chris@selectvisaservices.co.uk www.selectvisaservices.co.uk Chris Braine – Director Anna Tomaszek - Legal Director (pictured)
Not a member yet? Find out more about one the most dynamic and connected business networks around! Call 03 2164 1784 or visit www.bmcc.org.my today! Issue 3 - 2015
29
34
Issue 3 - 2015
Members News First Malaysian Appointed
International SOS Partners With IOE
As ACCA Global President
To Provide Medical & Security Expertise
The new President of ACCA (Association of Chartered Certified Accountants) has been announced as Datuk Alexandra Chin JP, making her the first Malaysian to be elected to this prestigious role. Datuk Alexandra, who hails from Sabah, is only the fourth woman to be elected as President in the global association’s 111year history.
International SOS, the medical and travel security risk services company, has become a partner of the International Organisation of Employers (IOE), a globally recognised organisation that supports national entities in international labour standards and occupational health and safety. International SOS will provide medical and security expertise to support key IOE policy areas.
Following her election, Datuk Alexandra said: “The main aim for my Presidential year is to inspire younger people in the way that ACCA has inspired me. As the first Malaysian and only the fourth female President of ACCA, I also want to focus on diversity, particularly in relation to open access and opportunities into the accounting profession for thousands of people around the world.” Datuk Alexandra qualified as an ACCA member in 1986 and she has been a member of ACCA’s Council since 2005. Before being elected to Council, Alexandra was an International Assembly Member representing Malaysia from 2003 to 2005. She was also President of ACCA Sabah from 1999 to 2005. Head of ACCA Malaysia, David Chin, said: “We’re very proud and excited to have Datuk Alexandra represent Malaysia on this global platform. Her personal background and professional achievements have made her very relatable to our members and students who aspire to similar success in their own careers.” She will be supported by ACCA’s newly elected Deputy President, Brian McEnery FCCA, a partner in BDO Ireland and a specialist in corporate restructuring and healthcare consulting; while Leo Lee FCCA, a former director of Hong Kong’s Securities and Futures Commission, has become global ACCA Vice President. www.accaglobal.com
Linda Kromjong, Secretary-General of the IOE, said: “As social and labour policy increasingly focuses on migration and the travel health risks and opportunities associated with this, our partnership with International SOS will serve to strengthen and further inform our position in the global debate.” The IOE convenes the largest network of the private sector employers in the world, reaching 155 business and employer organisation members. During the height of the Ebola outbreak, International SOS provided educational materials to IOE for distribution to its members. Likewise, the IOE shared its expertise in the development of a global framework that guides organisations in identifying and managing risks to the safety, health and security of those travelling for work or on assignment. Laurent Fourier, International SOS Regional Managing Director for Europe, said: “In addition to the standard travel health considerations related to a mobile workforce, the recent spate of emerging infectious disease outbreaks, such as Ebola and MERS-CoV, has elevated the issue of medical and security best practices for the global organisation. With the IOE, we can provide expertise to these types of issues when representing the worldwide business community in international labour and social policy forums.” www.interenationalsos.com
Standard Chartered Scoops Big Haul In Best Consumer Digital Bank & HR Awards Standard Chartered Bank scooped multiple awards in Global Finance Magazine’s 2015 Best Consumer Digital Bank Awards across Asia, Africa and the Middle East, winning a total haul of 17 country awards and 6 regional awards, including Best Consumer Digital Bank in Malaysia. Aaron Loo, Country Head, Retail Banking, Standard Chartered Bank Malaysia, (pictured) said, “We are delighted to once again clinch the title of Best Consumer Digital Bank in Malaysia after our previous wins in 2010 and 2014. We have invested heavily in technology and have been infusing a strong digital service culture among our staff in order to meet the needs of customers, given the high level of adoption of both online and mobile platforms.” In addition to the country awards, the regional awards for Asia Pacific included Best Online Deposit, Credit and Investment Product Offerings; Best Bill Payment & Presentment; Best in Mobile Banking and Best Mobile Banking App. Loo joined Standard Chartered earlier this year, bringing more than 15 years’ experience in retail banking. He was previously Head, Group Consumer Banking at Alliance Bank Malaysia. Prior to that, he spent close to 10 years at CIMB. In other news, Rahmat Roslan Hashim, Country Head of Human Resources, has been honoured with the 50 Most Influential HR Professionals Award at the recent 6th Annual Asia Best Employer Brand Awards. Organised by CHRO Asia, a professional body for HR professionals, the awards were conferred based on a number of criteria including strategic perspective, track record, ability for sustainability, future orientation, integrity, ethics and HR impact. www.sc.com
Issue 3 - 2015
31
Members News Passengers flying to London on British Airways from 10 December onwards will now be able to experience the new Boeing 787-9 Dreamliner. The 787-9 is the latest addition to the British Airways fleet, offering state-of-the-art technology and comfort. Robert Williams, British Airways’ head of Asia Pacific Sales said, “We are absolutely delighted to be flying our latest and newest aircraft to Kuala Lumpur. I am confident that our customers will love the new cabins which showcase exquisite British elegance.” The 787s features a whisper-quiet cabin pressurised 2,000 feet lower than other aircraft (6,000 feet). This creates more humidity and reduces the drying effect of the air in the cabin, helping to minimise jetlag. The aircraft's smooth ride technology also provides extra comfort during any turbulence. The First Class cabin is fitted with just eight suites, offering even more exclusivity and privacy. Each suite includes a new ottoman next to the adjustable footstool with enough room for shoes, handbags and personal items, while the
personal suiter for jackets and coats is now accessible without having to move from the seat. A new locker positioned at eye-level is ideal for smaller personal effects such as tablets, spectacles, passports and amenity kits. The bespoke lighting in every cabin can be set to reflect the time of day. Customers can also enjoy much larger windows, offering views of the horizon from every seat.
All Inclusive Return Fares: World Traveller Economy from RM2,500
British Airways To Fly Dreamliner On Kuala Lumpur-London Route
World Traveller Plus Premium Economy from RM5,000 Club World Business from RM12,500 First from RM20,000
Marlborough College Malaysia Pupils Recognised For Achievements The benefits of Marlborough College Malaysia’s Great British education were demonstrated loud and clear recently with the achievements of several of its students recognised. Senior School pupil Danial Nielson-Frost has been chosen to represent Singapore in the CIK FIA Karting World Championships in Italy. Another, Nicholas Goh, has won Gold in the Euroasia violin regional competition. On the academic front, five Marlborough pupils received awards at the recent Pearson Medallion Awards Ceremony, for gaining the highest marks in Malaysia in the Edexcel IGCSE examinations. The winners were: Ameer Chugthai for History & Religious Studies, Anya Igwe for Religious Studies, Edward Chai for Science, Frederico Smith for Spanish and Richard Lai for Geography. The College also picked up a Centre of Excellence award for its performance in its first year in external examinations. The awards were presented by British High Commissioner HE Vicki Treadell. Contact: Lian Thorpe: lthorpe@marlboroughcollege.my Tel: + 60 7560 2261 www.marlboroughcollegemalaysia.org
Book before 31 October 2015 Valid until 30 June 2016 www.ba.com
Enhanced Audio Experience For Convention Centre Patrons As part of its efforts to enhance delegate experience when attending events at its facility, Kuala Lumpur Convention Centre has invested RM1.8 million on 190 new digital speakers and digital audio processors. The digital speakers will facilitate clearer projection of voice and sound due to better audio distribution while the digital audio processors will result in increased audio performance. The 190 items of new equipment have been installed in the Plenary Theatre, Plenary Hall, Conference Halls 1, 2 and 3, Banquet Hall and Ballrooms 1 & 2. All audio processors in the Exhibition Halls have also transitioned to digital with the existing speakers maintained in analog format. www.klccconventioncentre.com
32
Issue 3 - 2015
Members News Celebration Of Languages Inspires BSKL Students BSKL recently held its own version of Languages Day which is marked in Europe every September. The event represented the ideal opportunity to showcase the wide range of languages prevalent in the school community. Each House was allocated one of four continents from Africa, Asia, Europe and South America with students choosing an appropriate costume and decorating their respective House Noticeboard in keeping with the theme. During the day all students took part in a Languages Quiz and were also treated to a tasty menu reflecting the four continents. www.bskl.com
DoubleTree Turns Five Celebrates With Cook-Off & Books For Care DoubleTree by Hilton Kuala Lumpur marked its fifth Anniversary recently with a series of hotel-wide activities. As part of its “Books for CARE” programme, the Hotel collected more than 200kg of books, from an initial target of 50kg, to be donated to five non-profit organisations in support of children’s literacy and education. Over at Makan Kitchen, the Hotel’s signature restaurant, ATP World Tour tennis players, in town for the Malaysian Open, battled it out with each other in a friendly cook-off. Feliciano Lopez and Vasek Pospisil set about making and serving Makan Kitchen’s Nasi Goreng Durian and Ayam Durian Skewer under the expert tutelage of Executive Chef Eric Siew. www.doubletree.com
Enfiniti Vision Media
Sirva Group Expands
Introduces TEN On TEN Pictures
Adding New Service Centres
TEN On TEN is a successful film production house that has produced some of Malaysia’s most popular TV programmes, including sitcom classic Spanar Jaya; acclaimed dramas such as Layar Impian and Mak Mertuaku; variety specials, advertisement and commercials, travel programmes and music videos. In 2004, together with Enfiniti Vision Media, TEN On TEN produced Malaysia’s biggest budget movie Puteri Gunung Ledang (shortlisted for The Oscars and shown at the prestigious Venice Film Festival).
Global mobility services provider SIRVA, Inc, has announced the opening of additional service centres in India, Qatar and Macau SAR.
With extensive experience of working closely with corporate clients, TEN On TEN has now expanded its services to create high-quality corporate videos. Tel: Andrea Lok +6012 394 7752; Sandy Cheng +6019 395 9503.
The new centres in Bangalore and Doha strengthen the company’s service delivery capabilities in the region, with assignment management, destination services, immigration services, ongoing assignment services, consulting and move management added to its household goods moving service. “The expansion builds on SIRVA’s experience in relocating assignees into and out of India and Qatar and will enable better support to clients and relocating employees through on-the-ground resource” said Jacob George, President of SIRVA Asia & Middle East. SIRVA has also strengthened its direct delivery of household goods moving services in Macau through Allied Pickfords, its international household goods moving brand. This will serve its clients pursuing interests in the booming tourism industry. www.sirva.com
HLAP Employees Get Shuttling! Independent reinsurance brokers HLAP Ltd organised a Friendly Badminton Tournament amongst staff at the Sentul Perdana Community Court recently. CEO Lee Warner said, “HLAP is known for its many outdoor adventure activities such as Zurf, Go-Karting, and White Water Rafting and we wanted to increase our indoor activities. As many of the HLAP team enjoy the game of badminton, the committee has organised “friendly matches” for fun, health and camaraderie.” Friendly matches with clients and business associates are planned in the very near future. Ian MacAndrew, Business Director Tel: +603 4027 6633 Email: ian@hlap.com.my
Available at Multiple Locations Around Town www.regus.com.my for details
Issue 3 - 2015
33
Members News Etihad Signs With Chapman Freeborn For Cross Marketing Of Luxury Facilities Etihad Airways has unveiled a new partnership with global aircraft charter specialist Chapman Freeborn for the marketing of its exclusive The Residence and First Apartment cabins, both available on the airline’s Airbus A380 fleet. Chapman Freeborn will marekt the facilities to ts top-tier clientele, giving them the opportunity to receive the levels of luxury, discretion and technology they expect on a private jet, now available on Etihad Airways’ longhaul network. Shane O’Hare, Etihad Airways’ Senior Vice President Marketing, said: “Chapman Freeborn’s customers can now enjoy a private jet experience on the largest passenger aircraft in the world, along with the infrastructure of a world-leading airline.” Chapman Freeborn provides access to a large fleet of executive jets such as the Gulfstream G650 and Dassault Falcon 7X, to smaller, versatile types such as the Cessna Citation X and Bombardier Challenger 350.
Sport, Music & Academic Excellence All High On The Agenda At Garden School Five students from Garden International School have been awarded Pearson Edexcel Outstanding Learner Awards in recognition of their performance in a range of subjects at GCSE and A-Level. Highest Mark in Malaysia awards were presented to the five for their results in Design & Technology A-level; Physical Education GCSE; Chinese A-level and Art & Design GCSE. These achievements were mirrored in the outstanding A-level and IGCSE results scored by GIS students in general. On a musical note, GIS hosted the South East Asia Jazz Festival [bottom], bringing together some 75 students from GIS, Alice Smith International, Jerudong International Brunei and Tanglin Trust International Singapore for a jazz fest.
www.etihad.com
www.chapmanfreeborn.com
Key Appointments Announced At Mongoose Publishing Group Mongoose Publishing continues on growth path with three key appointments. Simon Burgess has been selected to take up the role of Editor-in-Chief of Esquire Malaysia, the acclaimed men’s magazine and a flagship publication in the Group’s portfolio. Simon brings extensive experience in the sector having worked across various titles in Malaysia for over a decade. He takes over from Acting Editor-in-Chief Kam Raslan who has been in the role since former Editor-in-Chief Sam Coleman left earlier this year. Over at Men's Health Malaysia, Eugene Phua has been announced as the new Editor, bringing solid experience in the local magazine scene, including time at KLue, FHM and FourFourTwo. He will take over the new role role in November from current Men's Health Editor John Ng, who is moving on from the company. And at Group level, Patrick Brennan has been appointed as Director of Business Development. An experienced media professional, he has worked across North America, Latin America, Europe and Asia, where he will now be based permanently. His broad international experience includes five years in Tokyo as Regional Director for the Financial Times as well as VP Business Development at CMP Media LLC and as Vice President, Business Development Asia-Pacific & Latin America at Hearst Magazines International. www.mongooseasia.com
34
Issue 3 - 2015
A series of rehearsals and instrumental tutorials was led by professional musicians to help with improvisation and other skills. And on the sporting front, the School football field came alive as students took part in a series of 2-hour football clinics led by the Liverpool Football Club coaches. A special appearance by Luis Garcia and Dietmar Hamann topp topped off the actionpac packed session sion.
www.gardenschool. edu.my
InsideBiz Competition & Regulatory Issues: Applications For Malaysia Continued From Page 16 This means that parties and their advisors need to take a judgment call on the competition risks. The move to self-assessment was partly fuelled by resource constraints against an expanding EU. It was also motivated by a drive to focus on high priority areas such as cartels rather than assessing routine transactions.
Restrictions By Object or Effect The challenge for competition authorities involved in distinguishing between procompetitive collaboration and potentially harmful practices interacts with the evidential burden of providing a competition law infringement. The question of whether an infringement is categorised as restrictive by ‘object’ or ‘effect’ has a particular significance where the effects of a practice may be, at best, uncertain. There has been an increasing trend in the practice of the Commission to characterise competition law infringements as restrictive by object, with a corresponding debate about how much market analysis is needed in such ‘object’ cases.
“Companies active and investing in Malaysia or seeking to expand their operations
In April 2014, the Payment Systems Regulator (PSR) was established as the regulator for payment systems in the UK, the first time a specialist regulator independent of the national reserve bank has been set up to regulate the payments sector. The PSR is a subsidiary of the Financial Conduct Authority (FCA) and has its own statutory objectives and board. Among its objectives are the promotion of effective competition in the markets for payment systems and for services provided by those systems, as well as the promotion of innovation, in particular the infrastructure used to operate payment systems. Fully operational since April this year, the PSR has a wide range of powers. Businesses that have not previously been subject to regulatory scrutiny including interbank operators, payment service providers and infrastructure providers, will now be subject to industry-wide regulation.
Concurrent Application Since April this year, the UK FCA has concurrent competition law enforcement powers, including powers under the Competition Act 1998 and the Enterprise Act 2002, to conduct market studies and make market investigation references regarding the provision of financial services. The PSR has equivalent concurrent competition law enforcement powers in relation to participation in payment systems.
in terms of other regulators’
The FCA and PSR are also part of the UK Competition Network (UKCN), an alliance of the CMA and UK sector regulators which have a duty to promote competition in the interests of consumers. A similar cooperation forum exists in Asia (ASEAN).
approaches.”
Looking Ahead
overseas will want to keep abreast of what is happening
Malaysian competition law prohibits horizontal and vertical agreements between enterprises where it has the object or effect of significantly preventing, restricting or distorting competition in any market for the provision of goods or services. While it is clear that ‘hardcore’, activity such as a price fixing or market sharing cartel will almost always fall foul of the prohibition, less obvious forms of competitor coordination can be more difficult to classify. When faced with more unusual or less straightforward practices, the Malaysian Competition Commission will want to look at how authorities in other jurisdictions have treated similar practices.
Institutional Change The experience gained from the application of competition law in the financial services sector has prompted the development of rules that are specific to the sector.
The interest of competition authorities and regulators in financial markets shows no sign of relenting. Several high-profile cartel investigations have already resulted in fines. Others are ongoing. The ongoing UK market investigation into the banking sector contains many familiar themes. It may be naïve to assume that political agendas will not be pursued through the enforcement of competition law but the competition authority needs to have courage to stand above political capture. The risk of political suasion on the competition authority is inherent in any competition regime and perhaps even more so in a country like Malaysia, which has adopted competition law relatively recently. Under Malaysia’s competition law, the ministry is allowed to direct the enforcer to investigate specific allegations of anti-competitive activity. This can be a useful tool to identify areas of concern, provided the
minister does not then dictate or interfere. The conferral of new competition law powers on the financial services regulators might augur well for the application of competition law by an authority that is able to take into account a wider range of regulatory tools in order to achieve its objectives. There are high expectations and with that a potential risk of “mission creep” where multiple authorities have an interest in a specific sector and may be tempted to stray beyond their specific remit. These developments indicate that the framework for competition enforcement is not settled. While the issues are not necessarily new, competition law is being applied in new and different contexts and by authorities who have not previously had to address such issues. When the Malaysian Competition Commission gained its powers on 1 January 2012, it was venturing into unchartered territory. However, the regime has borrowed extensively from the practices and procedures in other jurisdictions. Time will tell whether developments in the regulatory enforcement landscape in financial services and other regulatory sectors overseas will inspire similar models in Malaysia. In the meantime, companies active and investing in Malaysia or seeking to expand their operations overseas will want to keep abreast of what is happening in terms of other regulators’ approaches. Philip Watkins: Head of Corporate at Katten Muchin Rosenman UK LLP. Practising corporate and commercial law, with particular emphasis on mergers and acquisitions, takeover offers, strategic investments, joint ventures, and public/private securities offerings. Founder member of Practitioners’ Advisory Board of Masters of Corporate Law at University of Cambridge. Suzanne Rab: Barrister at Serle Court Chambers in London with wide experience of EU law and competition law matters combining cartel regulation, commercial practices, IP exploitation, merger control, public procurement and State aid. Track record in advising on development, implementation and application of new competition laws and regulatory regimes in line with international best practices. Has advised on new competition law regimes in Asia (China, India, Indonesia, Malaysia and Singapore), Jersey, Guernsey, Mexico and the UAE, amongst others. www.kattenlaw.co.uk
This article is informed by material contained in notes by one of the authors on LexisCompetitionPSL.
Issue 3 - 2015
35
On The Social Scene
60 Second Pitch! It’s SPEED Networking
C
ould you pitch your business in sixty seconds? Sixty times over in ine evening? That was the challenge facing the enthusiastic group that arrived for the latest round of BMCC’s Speed Networking. Held at the JW Marriott Hotel KL, the evening kicked off with BMCC’s Nik Tasha explaining the format. Fast-paced and fun, participants get 60 seconds to ‘pitch’ their business to the person opposite. When time is up, it’s the other person’s turn. The pro-
36
Issue Issue Iss s ue e 3 - 2015 201 15 5
cess is repeated until everyone has worked their way round the room - Musical Chairs! “There was a good variety of businesses represented,” said one participant. “It’s certainly thirsty work but it’s an excellent way of identifying new business opportunities quickly!” The networking continued afterwards, accompanied by some welcome refreshments, giving everyone the chance to learn more about their new-found contacts.
On The Social Scene
Issue 3 - 2015
37
In The Community
Giving BACK A
ll the hard work, commitment and generosity shown by the sponsors, guests and organisers of the 11th BMCC Annual Rugby Dinner paid off with the presentation of a substantial sum to this year’s chosen charity, the UNICEF Nepal Earthquake Children’s Appeal. A cheque for RM80,000 was handed over at a ceremony held at the Shangri-La Hotel in Kuala Lumpur recently, also the venue for the event Dinner held back in June. UNICEF Malaysia Chief of Fundraising & Partnerships, Richard Beighton, said, “The devastation caused by the earthquake means that UNICEF’s response in Nepal has been on a huge scale. The very generous support
of the BMCC and the many people and organisations who attended the event will fund a major part of our rebuilding programme and have an impact on the lives of thousands of children.”
ing a difference in young people’s lives. We look forward to continuing the strong tradition, and want to thank our sponsors for their generosity, as well as the rugby fans who have supported us so well.”
BMCC Chairman Andrew Sill said, “Rugby is about working together, respecting each other and helping out when it is needed. This is especially true whether it is a tragic global event, or the development of grassroots rugby in Malaysia. We are glad that we can keep mak-
The event has raised more than RM1.3 million for local and regional charities since its inception in 2005. Rugby legends Brian Moore, Andrew Mehrtens, and Alan Quinlan flew in to KL espectially to entertain the 400-strong crowd at the Dinner. Earlier in the day they ran out alongside the regular coaches to take part in the actionpacked Coaching Clinic organised by local rugby club KL Saracens. This year’s Title Sponsors were The Royal Bank of Scotland and British Airways, together with event partners Shangri-La Hotel Kuala Lumpur, Milawa, Expatriate Lifestyle, FR Events, Guinness Anchor Berhad, and Truefitt & Hill.
38
Issue 3 - 2015
There are 5000... Great Reasons to Select Zerin Properties 5,000 local-market leading commercial real estate professionals, working in 400 offices across 55 countries. That’s NAI Global – Leveraging the world’s largest, most powerful network of local market-leading firms all actively managed to work wherever you do. Whether you’re an owner, tenant, developer or investor with local or multi-market needs, contact Zerin Properties. You’ll receive custom solutions from a local-market leader with deep experience and relationships; and access to a world of NAI firms working in seamless partnership with a singular focus: You.
Registered Estate Agents E(3)0739
www.naiglobal.com
1 800 222 008 www.zerinproperties.com Issue 3 - 2015
Issue 3 - 2015