Britain in Hong Kong April 2012 by The British Chamber of Commerce in Hong Kong

Britain

IN HONG KONG April 2012

Vo l 2 7

No 3

www.br i tcham.com

Airport Expansion in London and Hong Kong

Not For Sale

Celebrating GREAT Britain

Organic and Biodynamic Viticulture

Visiting the Maldives

Contents Organic and Biodynamic Viticulture

Three in a Row Third Runways: Hong Kong and London

Visiting the Maldives

4 Chairman’s Message

20 Travel: Maldives

6 Three in a Row Third Runways in Hong Kong and London

23 Youth Outreach

8 Celebrating Great Britain 10 Economy: Spring in the air 12 Asia’s Downstream Industry – Seizing The Opportunity 14 Captivating listeners with compelling communication

16 Crate Value Insider tips on wine investment 18 Organic and Biodynamic Viticulture: Separating facts from fairytales

24 Member Get Member 2012 26 Member Discounts 28 Rugby Dinner 31 Sterling Members 32 Upcoming Events and New Appointments 33 News 34 New Members 35 Shaken Not Stirred

Britain in Hong Kong Editor Sam Powney Design Winnie Li Lilian Yu Ken Ng Advertising Contact Charles Zimmerman Project Management Vincent Foe

Jointly Published by Speedflex Medianet Ltd and The British Chamber of Commerce in Hong Kong 1/F, Hua Qin International Building 340 Queen’s Road Central, Hong Kong Tel: 2542 2780 Fax: 2542 3733 Email: info@speedflex.com.hk Editorial: sam.powney@speedflex.com.hk Advertising: charles@speedflex.com.hk

British Chamber of Commerce Secretariat Executive Director CJA Hammerbeck CB, CBE General Manager Cynthia Wang Marketing and Communications Manager Emily Ferrary Special Events Manager Becky Roberts Events Executive Mandy Cheng Business Development Manager Dovenia Chow

Membership Executive Lucy Jenkins Accountant Michelle Cheung Executive Assistant Jessie Yip Secretary Yammie Yuen Ofﬁce Assistant Sam Chan

Room 1201, Emperor Group Centre, 288 Hennessy Road, Wanchai Tel: 2824 2211 Fax: 2824 1333 Website: www.britcham.com

© All published material is copyright protected. Permission in writing from the Publishers must be obtained for the reproduction of the contents, whole or in part. The opinions expressed in this publication are not necessarily the opinions of the Publishers. The Publishers assume no responsibility for investment or legal advice contained herein.

Chairman’s

Message You will be pleased to hear the Britcham & KPMG Rugby dinner 2012 we organised was a hearty event for all rugby fans who attended.

We witnessed a historical milestone in March with the announcement of Leung Chunying as the fourth term chief executive-elect of the Hong Kong Special Administrative Region (HKSAR). On behalf of the British chambers we congratulate Mr Leung on his victory and urge him to continue promoting Hong Kong’s economic competitiveness and ensure the region’s long-term prosperity and stability. We are pleased to hear that Mr Leung has promised to prioritise economic development and improving people’s livelihoods, as Hong Kong is facing challenges in matters such as housing, employment and health care services. Moving on from politics, to the recently held 37th Hong Kong Rugby Sevens tournament, which was a sporting triumph. The tournament truly succeeded in promoting a new world order in sevens rugby, as well as elevating the abbreviated sport itself to a greater prominence. Sevens will be an Olympic sport in Rio in 2016, and the lure of that target has driven countries to train hard and reach out for its enticing rewards. Fiji collected US$100,000 (£63,000) for their thrilling 3528 win over New Zealand in the final, in what was the single most invigorating rugby action I’ve seen since the Lions tour three years ago. Against the backdrop of vibrant colours and pulsating music, the Sevens provide a fantastic opportunity for business leaders to unwind and network. While I enjoyed every second of the sporting action, I was also investing time with key BT customers and various business leaders who had ﬂown in from across the world.

In up-coming chamber events, we have Gavin Morgan, Chief Operating Officer & Head of Leasing, Jones Lang LaSalle speaking on the proposed transformation of Kowloon East into Hong Kong’s next-generation Central Business District (CBD), which is key to the continuing success of the city as a global ﬁnancial centre. Another not to miss session is on the experience of educating children in Hong Kong, to be held on the 25th at the British Consulate; this is a topic which is close to all our hearts. At the Chamber we continue to highlight the lack of international school places across Hong Kong. In the next month we will also host Andrew Seaton, British Consul-General who will talk about how the Diamond Jubilee and the London Games are being celebrated in Hong Kong and about Britain’s relations with Hong Kong and China more widely. The Chamber has a busy annual calendar of insightful discussions and networking events, please do make great use of all our events.

Kevin Taylor

Chairs of Specialist Committees Business Policy Unit Tim Peirson-Smith Executive Counsel

Environment Committee Anne Kerr Mott MacDonald Hong Kong Limited

Marketing & Communications Committee Adam O’Conor Ogilvy & Mather Group

Small & Medium Enterprises Committee Kate Kelly K2PR

China Committee David Watt DTZ

Financial Services Interest Group Debbie Annells Azure Tax Consulting

Real Estate Committee Jeremy Sheldon Jones Lang LaSalle

Women in Business Committee Sheila Dickinson Ipac Financial Planning Hong Kong Limited

Construction Industry Group Derek Smyth Gammon Construction

HR Advisory Group Brian Renwick Boyden Search Global Executive

Scottish Business Group John Bruce Hill & Associates

YNetwork Committee Alison Asome

Education Committee Stephen Eno Baker & McKenzie

ICT IT Committee Craig Armstrong Standard Chartered

Logistics Committee Mark Millar M Power Associates

Business Angel Programme Neil Orvay Asia Spa & Wellness Limited

The new Oliverâ&#x20AC;&#x2122;s 2/F Prince's Building, Central

oliversthedeli.com.hk

Hong Kongâ&#x20AC;&#x2122;s favourite deli since 1981

C ove r S t o r y

Three in a Row

Third Runways: Hong Kong and London Sam Powney

Building an airport isn’t as simple as it used to be. This at least, seems to be the overriding conclusion of recent times. Gone are the heady days of the 90s, when Hong Kong built a new international airport in six years. Fast as this was, Hong Kong’s Chek Lap Kok Airport was pipped to the post by Kuala Lumpur International Airport, which took a mere four and half years to build, the fastest in modern times. To add insult to injury as it were, Kuala Lumpur’s new airport finished production a week before Hong Kong’s and came at approximately a sixth of the price tag. Perhaps it was partly because of Kuala Lumpur’s feat that Hong Kong International Airport’s (HKIA) US$20 billion bill seemed excessive to many observers at the time. Compare this with the Airport Authority’s Master Plan 2030 for airport expansion however, and the 1990s figures don’t seem so bad. The addition of an extra runway is slated to cost HK$136.2 billion (at money-ofthe-day prices), the equivalent of US$17.6 billion. As Hong Kong’s currency is tied to the US dollar, the figure is likely to remain in roughly that area. The main objective of the plan is to add an extra runway by reclaiming more land on what is now sea water at the edge of the present runway. Chek Lap Kok has always presented a significant engineering challenge, having been created by flattening two small but hilly islands off Lantau and creating enough flat space for two runways. So, how is the price tag justified? Firstly, it is estimated that the new runway will generate an extended net present value of HK$912 billion (in 2009 dollars) over the next 50 years. $US118 billion dollars is a significant boon even over such a long time-span, but another significant factor is the ongoing fear that Hong Kong’s economic ‘place in the sun’ could lose out to competition from other regional centres. Dr Marvin Cheung Kin-tung, Chairman of AAHK, expressed that viewpoint when the government approved the expansion, ‘Our airport’s

future development into a three-runway system is crucial if we are to maintain Hong Kong’s status as a leading international and regional aviation centre.’ The expansion is also expected to create employment on a significant scale, increasing the number of direct jobs associated with the HKIA to 141,000 by 2030. The plan did face some opposition when it was first mooted, principally from groups and individuals voicing environmental fears. Most iconic among these is the possible impact the airport could have on Hong Kong’s population of pink dolphins. A near-threatened species, there are around 100 resident Chinese white dolphins in Hong Kong (whose skin becomes pink in this part of their range). Hong Kong Dolphin Watch, a company dedicated to their protection, claims that dolphins regularly use the strip of water earmarked for reclamation. This and other environmental concerns joined more opposition from those opposed to increased noise levels and others besides who rejected the high price tag. Even so, after an abrupt consultation period, the naysayers were unable to prevent the government from officially endorsing the expansion plan in March this year. Certainly the pro-expansion lobby groups seemed galvanised, but perhaps they had been steeled by a recent defeat nearly half way around the world. The announcement of their proposals in Hong Kong came in the teeth of a complete rejection for airport expansion at London’s Heathrow Airport. The relevance might not be immediately obvious, but there are strong connections; few airports so far from each other are better connected than these two. For example, London is by far the most frequent destination for Cathy Pacific flights outside Asia, with roughly three times as many Cathay Pacific flights per week to London as to any other European city, and nearly half as many again compared to Sydney or Vancouver. Heathrow is familiar territory to most of those who were involved in the bid for expansion at Chek Lap Kok, and

Britain in Hong Kong

the British Chamber of Commerce in Hong Kong probably includes a more concentrated number of those involved in both bids than any other organisation. The economic arguments in favour of expansion are very similar in both cities. So, why did one succeed where the other failed? As airport expansion is generally a decision taken at the political level, it is inevitable that politics on the ground will play an important role. Not only are the political structures different in the UK and Hong Kong, but the political flavour also shows some dissimilarities. While Gordon Brown’s Labour government backed the plan for airport expansion, at the last election it met with resistance from the leadership of the Conservative and Liberal Democrat parties, and from London’s new mayor Boris Johnson. After the Tories and Lib Dems formed a coalition government in 2010, the plan for a third runway was immediately rejected. While both parties appeared to respond to the large and vocal public opposition to the plan, the Liberal Democrats position seemed to bear more towards environmental concerns, while Conservative policy took more account of the noise levels for residents living under flight paths. This is still the main objection for Conservative MPs who oppose expansion, although much of the Tory leadership now seems to be preparing for a U-turn on the Heathrow issue in the runup to the next general election. Not only was there less political opposition in Hong Kong, the city’s general public also appeared to be less resistant to the idea of airport expansion. Perhaps it was a social consensus that Hong Kong needs to ensure economic growth, or perhaps it is merely that Hong Kong citizens are less politically engaged than people elsewhere. It has also been argued that the opposition was not allowed sufficient time to organise a concerted resistance, but on the other hand, protest against the plans in Hong Kong never appeared equal to London’s wave of anti-expansion activism. There are also some more down-to-earth contrasts between London and Hong Kong. ‘The third runway is dead in the water,’ said a triumphant John Stewart, representative of Hacan ClearSkies, one of the many groups protesting the proposal in 2010. ‘Residents under the flight path are delighted and people who stood to lose their homes are relieved.’ The area around Heathrow is heavily built-up, and not only would the increased noise of a new runway affect the local residents, expansion would also involve the destruction of dozens of houses and possibly as many as eight Grade II listed buildings. Land reclamation off Lantau will affect far fewer people directly. Moreover, it would be hard to think of an alternative to expanding Chek Lap Kok, unlike in London where detractors of the Heathrow plan insist that there are alternative and more feasible options. Boris Johnson publicly backed the idea of a new airport hub in the Thames Estuary, while others have suggested

redesigning an RAF base a few miles away from Heathrow and to connect the two with a high-speed rail link. Hong Kong also had at least one alternative — to rely on expanded services from Shenzhen’s international airport, but really close partnership between the neighbouring cities remains more an aspiration than a reality. Whatever the final decision about London’s airport expansion, the consultation is almost certain to be toughgoing as none of the present options look especially appetising. Not only will expansion involve a great deal of expense and wrangling, it is also likely to attract a significant amount of negative media attention and renewed protests by activists. No matter how one views Hong Kong’s path to airport expansion, the proposal has certainly enjoyed a relatively smooth landing.

World’s Busiest Airports (Airport Council International: preliminary figures 2011) 1.

Hartsﬁeld–Jackson Atlanta International Airport, Atlanta 2. Beijing Capital International Airport 3. London Heathrow Airport 4. O’Hare International Airport, Chicago 5. Tokyo International Airport 6. Los Angeles International Airport 7. Charles de Gaulle Airport, Paris 8. Dallas Fort Worth International Airport, Texas 9. Frankfurt Airport 10. Hong Kong International Airport

Major Regional Airports Undergoing or Scheduled for Imminent Expansion: • • • • • • • • • • • • • • • •

Hong Kong International Airport Shanghai Pudong International Airport Shenzhen Bao’an International Airport Guangzhou Baiyun International Airport Xi’an Xianyang International Airport Chongqing Jiangbei International Airport Kuala Lumpur International Airport Suvarnabhumi International Airport (Bangkok) Singapore Changi International Airport Haneda International Airport (Tokyo) Incheon International Airport (servicing Seoul) Soekarno–Hatta International Airport (Jakarta) Clark International Airport (Philippines) Indira Gandhi International Airport (New Delhi) Bandaranaike International Airport (Colombo) Brisbane Airport

New Airports • Kunming Changshui International Airport (operational from June year) • Long Thanh International Airport, Ho Chi Minh City (to be completed by 2020)

Business

CELEBRATING

THE GREAT CAMPAIGN “Britain today is simply a great place to visit, study and work. A great place to invest and do business. We want to invite you to take a fresh look at everything we have to of fer. Welcome to GREAT Britain” David Cameron, Prime Minister

The London 2012 Olympic and Paralympic Games represent a once-in-a-generation opportunity to promote the UK abroad, shape international perceptions and help deliver long-term trade and tourism benefits for Britain. The Royal Wedding attracted unprecedented levels of international attention. With the Diamond Jubilee and Olympic Games taking place in 2012, this will only increase. The campaign was announced by David Cameron in New York on 21 September 2011 and supports the marketing and public diplomacy efforts of UK Trade & Investment (UKTI), Visit Britain, the British Council, the Foreign Ofﬁce and other government departments. The campaign invites to the world to take a fresh look at what Britain has to offer as a destination and as a partner. It centres on areas of British excellence, focusing on reasons to invest in and visit the UK. They key themes are Technology and Innovation, Entrepreneurship, Creativity, Knowledge, Green, Heritage, Sport, Shopping, Music and Countryside.

We want to send out a clear message that Britain is one of the very best places in the world to visit, live, work, study, invest and do business with. The aim is to develop recognition of Britain’s past achievements as well as promoting the UK’s future potential. Hong Kong has been named one of just 11 key global cities for this campaign to take place, underlining the importance of Hong Kong in the region, and of its partnership with the UK The British Consulate General is working on a high impact campaign in support of these messages. From high proﬁle advertising across the Hong Kong airport and bus network, to a VIP launch and a week of events focussed on creativity, the campaign will be highly visible. This will be building on an existing strong business relationship. British exports to Hong Kong have grown by some 20% in both of the last two years. And there are major new opportunities for British businesses in Hong

Britain in Hong Kong

Kong, for example, in the infrastructure sector, as Hong Kong continues to invest in the next generation of major projects. Hong Kong has 5 of the top 55 global project opportunities identiﬁed by UK Trade & Investment. British companies continue to make a major contribution to Hong Kong’s economy and business life. Nearly half of all British investment in Asia is in Hong Kong. New arrivals in late 2011 include BWI (fine wine merchants), Fairline

INTERESTING FACTS • There are 28 World Heritage Sites in Great Britain. • The UK has the largest creative sector per head in the world.

Yachts, Jack Wills (clothing), and Purcell Miller Tritton LLP (architects). In the other direction, investment into the UK from Hong Kong is continuing to grow – with corporation

• Britain is the number one location for European headquarters, with more overseas companies choosing to set up here than anywhere else.

tax in the UK being among the lowest in the G20, reformed government – backed equity investment vehicles and tax incentives to favour start-ups and high growth businesses, there is real focus on enabling foreign investment to ﬁnd a secure and straight forward foundation for business in the UK. The GREAT campaign has already attracted a wide cross section of the best Britain has to offer, from Victoria

• The UK is a world leader in offshore wind energy production and research, with more offshore wind turbines than any other country. • Britain is home to three of the top five museums and galleries in the world.

Beckham lending support in New York, to British Airways, from Sir Paul Smith to entrepreneurs such as Sir Richard Branson. 2012 is also Hong Kong’s Year of Creativity and there are

• The UK has won 85 Nobel Prizes for science and technology. That’s second in the world and more than anywhere else in Europe.

great opportunities to strengthen the UK’s ties further with Hong Kong’s budding creative sector. The UK has the largest creative sector per head in the world and is a global

• The UK is home to four of the world’s top ten universities.

leader in ﬁelds as diverse as computer game development, fine art, fashion film and music. British companies have much to offer and we look forward to celebrating creative excellence as well as a close partnership with Creative Hong Kong later this year in November. The close ties the British Consulate General shares with the British Chamber of Commerce, and with many of the

• From Glyndebourne to Glastonbury, the UK hosts the world’s greatest music festivals. • London is the shopping capital of the world.

Chamber’s member companies, will be a key part of the success of the campaign over the course of the year, underlining the importance of business ties in the wider relationship between the UK and Hong Kong.

• Britain is hosting a decade of great sport including the Olympics in 2012, the Rugby World Cup in 2015, and the Commonwealth Games in 2014.

‘With the London Olympic and Paralympic Games and HM The Queen’s Diamond Jubilee, 2012 will be a truly memorable year for the UK. We look forward to celebrating all that is GREAT about our country and about our partnership with Hong Kong.’ – Andrew Seaton, British Consul General. We look forward to celebrating a Great year with you all.

• The UK is the global leader in e-commerce, spending more per capita than any other country.

Business

Spring

in the air once again

David Dodwell, Chief Executive, Strategic Access Limited

It is almost three years ago to the day that I heard

April 2009 your investment would be up between 60-

with stunned disbelief supposedly intelligent brokers

90%. Equally interesting, every year appears to have

and economists talking of “green shoots” appearing in

had a kind of “spring fever” lifting share prices in the ﬁrst

the recovery from the great crash that at that point had

quarter of each year.

occurred just 6 months earlier. I concluded: “There are times of extreme adversity when people need dreams to

But by just about every other measure, the 2009

keep despair at bay.”

“green shooters” were hopelessly and naively ahead of themselves. Whatever green shoots they saw were

It seems spring is once again in the air. It is perhaps the

an illusion. Property prices were still headed down.

same brokers and economists who are looking at some

Government bailouts were barely starting. Unemployment

encouraging US statistics, and a quarter of reasonable

was still falling sharply. Household spending was also

stock market performance, and talking again of green

still being reined in as families began the process of

shoots. And you know what? I think at last they may be

unraveling historically unprecedented levels of leverage

right. The case for green shoots looks a great deal more

and debt. Europe’s catastrophes were not yet on

plausible today than it did in the spring of 2009, and

anyone’s horizon.

an awful lot of economic pain has been felt since then. There is just one problem: these optimistic voices may

As Nobel Prizewinner Joe Stiglitz pointed out in a

be making light of the terribly long, slow haul towards

Financial Times article early this week, the recovery

recovery that lies ahead.

process in the US has even today barely begun, and fresh stimulus is almost certainly needed to preempt fresh

From a stock market vantage point, those 2009 “green

relapses. He noted that while new jobs are at last being

shooters” made a good point. Look at three years of

created – around 200,000 a month over the past three

stock market trends, and you will see April 2009 as the

months – this increase barely absorbs the new entrants

absolute dark bottom of the market collapse after the

into the labour force. He calculates that at this anaemic

Lehman Brothers debacle in September 2008. If you

level of job creation, it would take 150 months – about

bought the S&P in the US, or the MSCI World Index, in

15 years – for the US to recover to full employment.

Britain in Hong Kong

He notes that the rising consumer levels needed to

to about 119%. But in the UK and Spain, for example,

stimulate growth are unlikely to emerge any time soon,

debt levels are still stuck close to peak levels. In the UK,

as families remain nervous about job security, continue

household debt as a proportion of disposable income is

to reduce their debts, and continue to walk away from

still stuck close to 150%. In Spain it is virtually unchanged,

their properties. A rise in government spending that could

above 120%.

stimulate growth is also improbable, as unprecedented debt levels are forcing job and spending cuts. The US

“In all, it is going to take quite a long time to escape the

apparently has one million fewer government employees

aftermath of the biggest ﬁnancial crisis since the 1930s,”

today than it has in 2008. As the FT’s Martin Wolf notes,

Wolf says. Reinhart and Rogoff, in their rigorous studies

US and European economies face “a hard slog in the

of economic crashes over the past century, continue to

foothills of debt”. Family progress in reducing debts from

insist that the world economy faces at least a decade of

unsustainable levels has barely begun. The good news

hair-shirt austerity. Green shoots may be, but this is slow

is that leverage in the US is down by 16% from 2008:

growing grain without any doubt.

household debt is down from 135% of disposable income For Asia – and perhaps more specifically for Hong Kong and China – the appearance of genuine green shoots must be good news. A combination of steady, albeit anaemic growth in the US, with a carefully targeted emphasis by Beijing on strengthening the domestic consumer market, suggests unglamorous but steady growth prospects for Hong Kong – even with a catatonic European economy. With property prices reasonably underpinned, household debts at manageable levels, and unemployment levels modest by comparison with the west, our economy might provide modest safe haven. For a new Chief Executive – whoever he is – it could be a good place from which to begin.

Business

Asia’s

Downstream Industry –

Seizing The Opportunity Ian Kennedy, Partner, EC Harris

the last year South-East Asia has consolidated

its position as an important contributor to the global downstream market with Petronas’ recent announcement of its plan to build the new RAPID facility in Malaysia one further example of the region’s growing importance. In reality the timing couldn’t be better - as populations across Asia continue to grow, the demand for fuel will grow exponentially offering oil & gas operators a real opportunity to make a significant contribution to the region’s continued economic development. However, with this growing demand comes additional pressures, and with the sector still vulnerable to ﬂuctuating oil prices, operators can ill-afford to relax. The need to ensure their operations are as productive as possible and that cost inefficiencies are stripped out from the very outset, is arguably more important than ever before.

Minimising operational costs When it comes to new projects, oil and gas operators have traditionally been good at minimising their CAPEX spend. However, there has been much less focus given to limiting the cost of operation of their assets. With maintenance costs typically responsible for 20-30% of the overall OPEX expenditure, this is one area where the downstream sector in South-East Asia is increasingly focusing its attention.

According to some analysts the costs incurred across the globe in maintaining the next generation of oil and gas assets could equate to $0.75 trillion highlighting the scale of the prize that could be on offer here. For a typical refinery the operational expenditure is principally dictated by three prime factors: the quantum of work carried out on the asset, the efficiency at which it can be delivered and the agreed cost rate of the resource used. In each instance there is an opportunity to significantly reduce cost outlay by focusing on a range of inter-related issues including maintenance strategies, work scheduling and the approach taken to cost and commercial management challenges. However, it is vital that these issues are considered during the FEED (Front End Engineering Design) stage of a project for if they’re not factored in at that juncture, operators will find themselves in a situation akin to trying to catch a handful of sand. Whilst they may be able to plug some holes, the reality is that some cost inefficiencies will inevitably slip through their grips. Similarly, when it comes to the initial contracts, good intentions can quickly be forgotten as pressure to ‘get the project signed off’ sees decisions taken that result in a legacy of unnecessarily high OPEX costs for the lifetime of the asset. Given that many

Britain in Hong Kong

of these assets are in operation for over 30 years, this haste to push a project through can very easily become an expensive mistake.

Location, location, location Another challenge facing operators when it comes to minimising these costs is that very often their maintenance strategies are based on the Original Equipment Manufacturer’s Operations and Maintenance (OEM O&M) manuals. Whilst this ensures they comply with warranty conditions, it often overlooks two key points - the operating environment in which the refinery is located and the criticality of each asset. In the first instance a ‘one size fits all’ approach is simply unrealistic as the operating challenges will be markedly different depending on whether the asset is located in the Arabian Gulf, the Arctic Peninsula or the South China Sea. In the second case, a lack of awareness of the criticality of each asset can see operators adopt an overly expensive maintenance regime for some assets whilst at the same time under-maintain those assets whose performance is critical to the overall production levels.

The business opportunity Those owners who focus on the key issues that affect operational costs, and who implement the right processes during both the CAPEX and OPEX phases, can signiﬁcantly increase their overall productivity. Some recent examples suggest that by focusing on just 20-30% of those assets where maintenance costs are unnecessarily high, there is the potential to make savings ranging from $10-40 million per year. When considered in those terms it soon becomes clear that minimizing operational cost can have a marked impact on their business’ bottom line. Over the past 12-18 months the downstream sector in South-East Asia has made signiﬁcant steps. However, the next challenge will be to show that it can deliver sustainable improvements that will enable the region to strengthen its role as a key supplier of fuel in an ever evolving global economy. In changing times this is an opportunity the industry should not let escape from its grasp. For more information please visit www.echarris.com. Contact Ian Kennedy on (+60) (3)2690 1465 or at ian.kennedy@echarris.com

“Did we miss anything?” The most important thing to me? Is to have a smooth and worry-free relocation “This is our fourth international move and is by far the best experience. We were amazed with the competency of your organization. I get constant updates of the status and I never have to chase up anyone. Great job Crown!” ~South Africa to Taiwan

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Tel: (852) 2636 8388 hongkong@crownrelo.com crownrelo.com/hongkong

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Business

Captivating listeners with compelling communication Chris Davis

Whether they are addressing employees, customers or colleagues, or speaking to an audience of one or one thousand, some executives are understandably better than others at telling their stories. While time-pressed business executives often back away at the mention of media training and executive coaching, just a few sessions with professional coaches can help the most ordinary communicator have listeners feeling they are bringing them into the inner circle of his or her thoughts. But what separates those who are comfortable and successful in dealing with the news media or making a presentation and those who are not? According to professional management coach and media trainer David Keattch, chief executive ofﬁcer of Connect Communication, while public speaking might only come naturally to a lucky few, with the right sort of training and practice, the majority of people can master a media interview or presentation.

David Keattch OBE. CEO of Connect Communication

“We don’t teach people to become actors; instead, we help clients to be themselves at their very best. This means working with them so they deliver messages succinctly that provide clarity, insights and real impact” says Keattch. He notes one of the greatest challenges for really smart people, in any profession, is to realise that it is not knowledge or enormous amounts of factual data that achieve results. “It is the communication of intelligent ideas or themes, in a ‘user friendly’ package, that creates the desired impact,” says Keattch. He adds, this applies to a CEO making an important presentation or department heads talking to their colleagues or giving a media interview. But just like the coaches that work with successful sports men and woman, Keattch says media and executive coaches need to be at the top of their game. They need to understand the macro and micro drivers of each business sector they work in and the unique culture of each company. With thousands of hours of training and coaching across the property, legal, banking, various gover nment departments

Britain in Hong Kong

and services sectors in the Asia region, these are abilities and skills that Connect Communications clearly understand. Utilising experience and sector knowledge, Connect also organises tailored media training and coaching sessions to cover specific events, such as press conferences, a product or service launch, conference and seminar presentations and how to handle a crisis. A study conducted last year by the International Survey Unit of PricewaterhouseCoopers revealed that 83 per cent, of survey respondents who had experienced p ro f e s s i o n a l c o a c h i n g re p o r t e d h a v i n g e i t h e r a somewhat or very satisfactory experience with their coaching engagement. At a time when coaching and training budgets are under close scrutiny, the consensus by recruitment ﬁrms is the cyclical nature of markets could mean those companies that invest in strategic training and coaching, are likely to be in the strongest position to reap beneﬁts when the markets register an upswing. It is widely documented that one effect of quality employee training is that it helps to build and retain the most valuable talent. For instance, a study of more than 1,000 companies by Dr. Emma Parry of the Cranfield School of Management in Great Britain reported over half said training their staff made them more likely to stay. The same study revealed over three quarters of the companies reported that it was more beneficial to

their bottom line to train their existing staff rather than recruiting new employees. While Connect believes it is important to maintain a training and coaching momentum, simply throwing ﬁnancial and human resources at training and employee development is probably not the answer. Mark Loasby, Connect managing director believes effective corporate coaching starts with identifying what a company intends to achieve and finding the ‘right’ training/ coaching provider. “Companies need to ask what is the outcome or the desired results that training will bring about? And how will you know it when you see it?” he says. These are areas where Connect have been assisting clients for more than a decade Mark Loasby, Managing during which time the firm’s Director of Connect Communication consultants have spent thousands of hours delivering workshops and bespoke one-on-one executive coaching sessions across a wide range of industry sectors. Looking ahead, Loasby says both from a customer perspective and employer of choice perspective, firms that invest in coaching and training are often the ones poised to pick up new business, attract top talent and build great reputations.

Business

Crate Value Insider tips on wine investment

In late February, the British Consulate-General hosted a British Chamber event sponsored by Tanner de Witt, bringing together three local experts on wine investment in Hong Kong. Greg Brossard of Goedhuis & Co, Gregory De’Eb of Crown Wine Cellars and Simon Tam of Christie’s brought a wealth of experience and wise counsel to those looking at one of Hong Kong’s most popular alternative investments.

Wine has never been so big in Hong Kong. With no tax on the drink, the city consumes vast quantities of wine and serves as a hub for bottles going into mainland China, where it has become the fashionable drink of choice among the newly rich. And if the revelations surrounding Hong Kong’s recent leadership election are to be believed, fine wine certainly hasn’t lost its appeal with Hong Kong’s highest circles either. That’s certainly borne out by the strength of sales at Hong Kong’s most famous wine auctioneers, Christie’s. ‘Auction is a place where you can get great bargains on really first class wines you can’t find anywhere else,’ explains Simon Tam. ‘When buying wine as an investment, it’s all about provenance, provenance and more provenance.’

Industry Terms: ‘Low shoulder’ – A bottle whose level has fallen low in the neck due to leakage or evaporation, usually as a result of being stored in bad conditions. Crate – A standard crate of wine bears the name of the producer and details about the contents, usually twelve bottles. Made of wood, crates are used to protect the wine in transport, but now their purpose has become more decorative and promotional.

from connoisseurship and a personal belief in the product. With the right judgement and some good advice, you make a return on your wine and drink it too. Not the same bottle, surely? Indeed, say the experts, and further than that, not the same case either. Rule number one, decide on a ‘case by case’ basis. Buyers set great store by the condition of the case as well as the bottle inside it, so decide which cases you plan to sell and which you’d prefer to drink. “Make sure the case doesn’t get broken, and store it professionally so you can have all the paperwork for provenance proof when you wish to sell,” says Greg Brossard, Senior Account Manager at Goedhuis & Co. This is the essence of all professional advice: like any other investment, wine needs the right attention.

‘French Paradox’ – A 1991 episode of the American news program 60 Minutes which documented the low mortality rate from cardiovascular disease among French people who had a high-alcohol, high-cholesterol and low exercise lifestyle in contrast to the high mortality rate among Americans with a relatively lower cholesterol, low alcohol and more exercise lifestyle.

The experts give advice along two broad lines: treat the bottles softly, but be hard-nosed about the investment. “History, history, history,” says Gregory De'Eb. “Look at the history of the wines going back, make sure the documents are correct and make sure that the condition is really great. Make sure that you get photographs the day you buy them, to record where the neck levels are and what the condition is like. Going forward, protect them as well as they were protected in the past.” He then advises doing detailed research into the reputation of the storage company and their insurance against catastrophic damage, making sure that you as the owner would get market value in the event of a payout. And it’s not just catastrophic damage that you have to guard against, he says; it’s also case-swapping and case damage.

But should wine be bought and sold purely as an investment? The resounding answer from our experts is: yes, but it’s rarely as simple as that. The very attraction of buying ﬁne wine is the comfortable in-between, being able to make a solid long-term investment, while also beneﬁting

The key advice comes again from Greg Brossard, “Buy from a merchant you trust and who knows about wines, who has an established and proven track record, and who holds an extensive wine portfolio. This shows the health of the company ﬁnancially.”

‘Parker’ – Ratings from critic Robert Parker are currently the most respected in the industry. Zymology – The science of wine fermentation.

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Top Tips: Simon Tam, Head of Wine, China, Christie’s: “Buy one or two cases of great wine rather than forty cases of cheap wine. A crate of excellent wine will be easier to store and will make you a better return in the long run.” “Don’t waste your money for the sake of saving a little on storage. Use accredited storage companies.” “Keep the case in pristine condition. This is what the experts look at first.” “Wines with superior provenance will always command a premium.”

Greg Brossard, Senior Account Manager at Goedhuis & Co: “Make sure you double check the provenance whenever you buy fine wines.” “To start a collection of wine, all you need is to buy a full case (6 or 12 bottles) of a very reputable estate (Bordeaux or Burgundy) in a great year with great ratings.” “Make sure to do not break up the case; store it professionally so you can have all the paperwork for provenance proof when you wish to sell.” “Drink more wine. The more you drink, the more knowledge you will gain.” Gregory De’Eb, Crown Wine Cellars: “I don’t like it, but it’s true: investment is unemotional. Invest in Bordeaux, Burgundies. “Does the storage facility provider have total coverage for catastrophic loss? Most providers are only insured for up to ten or fifteen percent of the total value they look after.” “A fine wine merchant can be your best friend in terms of recommending wines to drink as well as those to invest in.”

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Lifestyle

Organic and Biodynamic Viticulture: Separating facts from fairytales

Organic farming is a practice which avoids the use of chemical or synthetic products such as fertilisers, herbicides and pesticides, the aim being both to improve the quality of the product and to protect the environment. Wine producers and consumers have recognised two potential problems inherent in the use of synthetics. Firstly, chemical fertilisers such as potassium build up in the soil over time and create a chemical imbalance which affects the health of the vines. Secondly the use of pesticides, fungicides and other chemicals in the vineyard can leave residues which have a harmful effect on consumers. To maintain the integrity of products labelled organic, reputable producers seek accreditation from a recognised body such as Ecocert which is active in France and other European countries or the National Organic Programme of the US Department of Agriculture. Increasingly major countries and trading blocs are working towards recognition of each other’s organic accreditation standards so products can be recognised and sold as organic in

export markets. It should be noted that in the EU organic refers to wine made from organically grown grapes and the term organic wine carries no official status. Grape growers who wish to be Ecocert certified must undergo a programme of conversion and inspection which lasts for three years. In total there are over three hundred bodies worldwide offering some form of organic certification. Despite the fact that the term organic has widespread recognition among consumers and organic grocery products are sold at a premium, the same price factor does not generally apply to organic wine in most markets. Many wine producers work in ways that can be recognised as organic but they do not apply for certification; by doing so they would forgo the option of applying chemical treatments if they were faced with a particular problem such as rot or pest infestation during a particular vintage.

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Biodynamics requires a foundation of organic agriculture but then goes considerably further in both the philosophy and practice. The biodynamic approach has its origins in a set of lectures delivered by Dr Rudolph Steiner in 1924 although many of the beliefs central to the language and practices of biodynamics are considerably older. There is no way of denying that there is a philosophical side to biodynamics and this arouses suspicion among some of the more literally minded critics who demand a more rigorous scientiﬁc approach. The fact that the principles of biodynamics were apparently received by Dr Steiner while he was undergoing a trance only hardens the position of many sceptics. Steiner had little by way of scientific training or agricultural experience. One leading plant biologist has written “this form of farming with its belief in cosmic forces has no place in any scientific discussion and is considered occult in character.” On their side, advocates of biodynamics can point to several of the finest wine producers in the world who follow the biodynamic approach although it is also true that many of these estates were established in the top tier before they became fully biodynamic. In Europe the first application of this system of cultivation for wine grapes was in Austria’s Wachau region in the 1970’s. It is particularly strong in Burgundy as well as in Alsace and the Loire Valley. Outside Europe there are adherents in Australia, New Zealand, Chile, the United States and South Africa. Predictably a great deal of attention is focused on the various preparations used in the vineyard – there are eight of these, including cow manure fermented in a cow horn, oak bark fermented in the skull of a domestic animal and tea prepared from the horsetail plant. Even taking into

account the timing dictated by the celestial calendar, it takes a certain amount of experience on the part of growers to understand how to adapt these treatments to the conditions they encounter in their vineyards. The leading certification body for biodynamics is Demeter which operates in forty three countries including the USA where Biodynamic is a registered trademark. Burgundy is the region most closely associated with the modern biodynamic movement with at least forty domaines committed to biodynamic vineyard practices and many others who are experimenting with this type of agriculture. The Burgundy model with its emphasis on the importance of terroir and the limited size of many vineyard holdings is in many ways an ideal fit with the intensive regimes of biodynamics. Many of those estates which are effectively biodynamic choose not to be certiﬁed as such, choosing instead to keep all their options open. Many others are moving gradually to full biodynamic practice and currently have only a portion of their vineyards cultivated in this way. Burgundians who are biodynamic fully or in part include Leroy, Leﬂaive, Dujac, Jean-Marc Brocard, Pierre Morey and Domaine de la Romanée Conti.

The below selection of wines includes producers who are certified as biodynamic as well as those who farm according to biodynamic principles but have not applied for formal certification. Domaine Roches Neuves Saumur Champigny 2010 – Loire Valley France $140 Marguet Pere et Fils Brut Reserve Grand Cru NV – Champagne France – $298 Beaucastel Chateauneuf du Pape 2001 – Rhone Valley France- $890 Pyramid Valley Calvert Pinot Noir 2008 – Canterbury New Zealand- $330 Churton Marlborough Sauvignon Blanc 2009 – Marlborough New Zealand – $150 Deux Montille Chambolle Musigny Les Babilleres 2007 – Burgundy France – $498 Beaux Freres Pinot Noir Willamette Valley 2007 – Oregon USA – $490 Mas de Daumas Gassac Rouge 2009 – Herault South of France – $350 For further details please contact : James@altayawines.com

Lifestyle

Into the

BLUE

If you’re looking to unwind in style, nowhere does luxury quite like the Maldives

Lucy Jackson, Director Lightfoot Travel (HK) Ltd The first image that comes to mind when someone mentions the Maldives is crystal clear topaz blue waters, surrounding small palm tree covered islands with a view of a gorgeous glowing sunset and of course a cocktail in hand. This was inevitably the reality when I visited the Maldives in early March. You can leave Hong Kong on a Friday afternoon and be sipping a tropical concoction by lunchtime on Saturday. Of course, the hard decision is deciding on which of the 100 plus resorts to visit. There are approximately 1,192 islands that make up 26 atolls which are laid out on the Indian Ocean in the shape of a double chain with Male, the capital, located roundabout in the centre. The normal routing from Hong Kong is to fly indirectly via Dubai, Doha, Kuala Lumpur or Colombo, and then transfer onto your chosen island by regular plane, seaplane or by speed boat. Islands can be as close to Male as 20 minutes by boat to over an hour by plane.

SIX SENSES, LAAMU Six Senses Laamu, the newest of the Six Senses Maldivian properties at only a year old, is a 45 minute ﬂight from Male followed by a 25 minute boat ride to Olhuveli Island. It is a larger resort with 97 one and two bedroom villas located over the water or on the beach. We were lucky enough to be staying in one of the coveted water villas with our very own water garden for 3 nights. The features of these rooms are worth mentioning as they are luxurious and comfortable whilst in keeping with the Six Senses values of sustainable, local, organic and inspirational philosophies. The sinks are made from vintage suitcases, there are overwater hammocks to relax in and the bath is made of glass and allows you to see the ﬁshies below. They truly make you stop and enjoy the ‘Slowlife’ they promote. Of course they offer all the activities you could ask for including a sunset dolphin cruise where you can see spinner dolphins (the smaller ones that jump and give you acrobatic displays) or the larger bottlenose dolphins, which are not quite so entertaining but you feel a sense of contentment if you do spot them as they are so rare. With over 5 different locations for eating you are spoilt for choice for eateries and let’s not forget the small pleasure of having your burger and chips on your water villas’ private sundeck i.e. room service. Do make sure you diet before because it is very hard to say no to their al fresco ice-cream parlour with over 40 homemade ice creams and sorbets. You are given bikes to ride around the resort and we did actually use them everyday…a 5 minute bike ride counts as exercise right?

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SULTANS OF THE SEA, 007 After our 3 nights on Laamu we transferred back to Male to move onto our second property. And at 100 feet, a boat can definitely be called a property. We stayed one night upon the infinite splendor of the yacht, ‘007’ by Sultans of the Seas. A very aptly named boat as we definitely felt like we were in a Bond film from start to finish. The boat has 4 bedrooms; 1 master, 1 VIP and 2 twins but can have a maximum of 10 persons sleeping at any one time. The advantages of being on a yacht in the Maldives are being able to go to the best dive spots and also to enjoy complete and utter privacy. We did a couple of dives in two locations – both at the suggestion of the onboard dive master. One where we saw at least 15 large reef sharks and another where we saw at least 15 sea turtles, you haven’t seen sharks or turtles until you’ve seen 15 of them. We felt so lucky to have access to this wonderful sealife. We were of course rewarded after our ‘exhausting’ day of diving and jet skiing with a delicious salmon pasta dish, which was exactly what we ordered from the onboard chef. This was of course after the starters of 2 different kinds of salads and before dessert of home-made chocolate brownie. No time to rest as we were dropped off at our third and final resort.

HUVAFEN FUSHI The one with the underwater spa. A Per AQUUM property only 30 minutes by speed boat from Male. Their airport hosts will meet you and take you to LIQUID, the speedboat where fresh coconut water waits to refresh you. You enter the island’s waters by a particular entryway so as not to disturb the corals or sealife and there is no waiting around once you set foot on the sandy shores, you are taken to settle into your new home away from home within minutes. The overwater villas here are complete with private plunge pools and surround sound so you can listen to your particular crooner of choice (Michael Bublé – Crazy Love) in the plunge pool and sing along whilst looking out at the bluest of blue uninterrupted views. The most notable thing at Huvafen is the amazing sealife that surrounds it. Try not to make any plans as you will be distracted by the baby reef sharks hunting along the beach edges, the sting rays that come to be fed everyday and even the herons who roam around solo and who are generous enough to share the island with you. Their Japanese restaurant RAW also deserves a special mention. Once a week they hold a special 9 course dinner that will leave you so full you won’t need to eat again the whole holiday, although fresh woodﬁred pizzas are not allowed to be turned down and it’s just too much effort to say no when they offer you fresh apple, lemon-grass and mint ice lollies around the pool, an infinity pool to outshine all inﬁnity pools. OFFER: PER AQUUM sister property Niyama – the one with the underwater club – (a 40 minute flight from Male) has just opened and is offering a stay 4, pay 2 when booking through Lightfoot Travel before 30th April. Please quote Britcham membership.

Lifestyle

CONRAD RANGALI The one with the underwater restaurant. As the underwater theme catches on and the engineers and hoteliers are finding new ways to submerge us underwater, Rangali can feel a sense of satisfaction that they were the first with their underwater restaurant. It only seats 6 so get your booking in early! Eat your dinner while sting rays fly overhead and little tiny Nemos look longingly into the domed restaurant. The beach villas are large, very spacious and with direct access to the beach, you actually spend time on it as opposed to being hidden away in a water villa. A 30 minute seaplane from Male, Rangali is actually two islands joined by a long bridge. On one island you will find an array of water villas whilst the other is home to the main resort with all the facilities, restaurants and some beach villas scattered throughout.

COCOA ISLAND Wow! Having arrived on Robinson Crusoe paradise, I wandered around the sandy spits that stretch for an eternity along the shoreline. I went into decompression mode upon stepping off onto this remote and secluded 33 bedroom idyllic spot. The rooms are mainly based on the traditional ﬁshing vessels of the Maldives – the wonderful Dhoni shaped rooms which are white washed Hamptons chic beach houses – perfect for lazily sipping on one of COMO Shambhala’s healthy juices or perhaps something a little stronger for sundowners! With a small but select spa retreat of four rooms, this lives up to the ‘COMO’ vibe with a sense of balance and wellbeing with some fabulous signature treatments. The complimentary daily yoga classes, as well as some meditation options are all possible to reenergize our harmonious bonds. The food is so fresh that I believe it has probably crawled out of the ocean and onto my plate, with mouth-watering inspired Asian fusion dishes, combined with mouth-meltingly incredible ﬁsh. I am in heaven and might never return to the shores of Hong Kong! OFFER: Stay 4 nights and pay 3 at Cocoa Island.

ANANTARA These three properties, located in the South Male Atoll, are just 30 minutes by speedboat from Male. Arriving late at night and stepping off the plane to be whisked along in their speedboat, across the clear waters of the Maldives, feels a world away from the less enticing Hong Kong harbour that I’d just been sailing around. The great news about Anantara are the many living and dining options that it offers. For families the beach villas of Dhigu are perfect, leading out to a shallow lagoon where kids can play. Although perhaps my favourite villas are the colonial style ones at Naladhu, complete with large swinging day beds reminding me of the large Black and White houses of Singapore – colourful throws and cushions adorn the gorgeous wicker plantation chairs and relaxation areas with plunge pools that make you wonder where the bathroom ends and the sea starts. This is resplendent luxury – a perfect bolthole to visit with a loved one whilst being waited on hand and foot by your personal butler. OFFER: Stay 4 nights and pay 3 at Anantara Dhigu.

Bespoke travel company Lightfoot Travel (www.lightfoottravel.com) is an Asia-based bespoke tour operator specialising in tailor-made holidays, honeymoons, short breaks, boutique accommodation and private villas in Asia, Australasia and Africa. For more information please call +852 2815 0068 or email info@lightfoottravel.com

Britain in Hong Kong

Education

Youth Outreach is the charity chosen to receive funds raised at the Standard Chartered Bank & British Chamber of Commerce Annual Ball 2012 – More than 70,000 Hong Kong teenagers run away from home every year. – The average age of the runaways at Youth Outreach is 12 years old. – The youngest runaway at Youth Outreach was 6 years old.

Without education or employment, young people are at great risk of dropping out of society. Low academic achievement and poor skills result in a lack of motivation to find work, and long-term unemployment damages youngsters’ confidence. If they cannot survive in mainstream society, they may resort to taking alternative paths involving taking drugs or other criminal activity. This is a vicious cycle, not only for the youngsters at risk but also for the wider community. Youth Outreach plans to set up a training programme to provide these young people with a platform from which to start again. The project can also provide them with “real” employment which can earn them a working testimonial, something crucially important in ﬁnding a job.

Funds raised at the Ball will go towards the “YES” – Youth Employment Startup service which helps youngsters build-up their self esteem and self-conﬁdence by providing them a period of employment in one of Youth Outreach’s social enterprises. The social enterprises include a restaurant, convenience stores, a hair salon, the School of Hip Hop, City Challenge (Adventure Professionals) and AS Production where young people receive professional training in workplace skills to enable them to find long term employment. For more information please visit www.yo.org.hk

The aim of this project is to enhance the abilities of our youngsters according to their interests and talents, with the ultimate aim of helping them face challenges optimistically and live a meaningful life. Youth Outreach was founded in 1991 to provide comprehensive crisis intervention and residential services to marginal youths who hang around on the streets at night. All-Night Outreaching Teams go out all-night to places where runaways gather and help them avoid becoming involved with triads, pimps, drug pushers and other unsavoury elements on the streets.

If you would like to donate a prize for the Ball to help us raise money for Youth Outreach, please contact Mandy@britcham.com

MEMBER GET MEMBER 2012 the to l a rr fe re l u sf es cc su a ke a M British Chamber of Commerce o! tw r fo l ea m ic st ta n fa a y jo and en The British Chamber is delighted to announce the launch of the 2012 ‘Member Get Member’ campaign which will run from April 2012 to March 2013. If you successfully introduce a company that results in them becoming a member of the Chamber, you will receive a fantastic dinner for two courtesy of one of our top member restaurants in Hong Kong. Not only that, all referring members will be entered into a prize draw to win a $2,000 voucher to go towards your holiday provided by Flight Centre!

AND if you happen to refer the most new members to the Chamber, you are in for a real treat for you and your friends! A complimentary dinner for four at Sakesan, the newest Robatayakibar, courtesy of Cafe Deco Group.

Sakesan Sakesan is the newest Robatayakibar in the heart of the bustling Soho area. It offers a range of exquisite dishes fresh from their robata grill, as well as other Japanese culinary delights, all rendered with a modern twist. Designed by Fiona Bagaman and Mirei Lim, Sakesan uses different wood and stone tones with ﬂashes of black and gold to create a serene, relaxed and cool space. Funky, colourful sake barrels wrap the bar area and frame the individual dining booths and an illuminated Japanese urban scene gives the bar a warm glow as well as striking visuals. Signature dishes include homemade steamed tofu, salmon miso, lobster dumplings and SAKESAN black cod. There is also a cool bar featuring a top range of sakes, shochus and awamoris with a superb range of cocktails made with these classic Japanese ingredients. To compliment this they also offer a selection of some of the ﬁnest, most thirst quenching beers to emerge from Japan.

To enter: • • • • •

Consider who among your contacts might be interested in joining the Chamber Email dovenia@britcham.com with the name and contact details of your suggested company If appropriate, contact your suggested company and let them know that the Chamber will be in touch The Chamber will follow up with each suggestion directly If your referral is successful, the Chamber will contact you with details of how to book your dinner. Your name will also go into the prize draw which will be drawn in March 2013.

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So what are you waiting for? Spread the word throughout your network to enjoy a complimentary meal for two at one of these fantastic member restaurants: Lobby Lounge, Conrad Hong Kong Featuring the spectacular views of the Hong Kong skyline and live entertainment, the Lobby Lounge is the ideal venue for private meetings or relaxed gatherings with friends. From salad bar to noodle station, and delectable hot dishes to exquisite desserts, the Southeast Asian themed supper buffet showcases an impressive range of more than 50 scrumptious all-time favourites.

The Bostonian, The Langham, Hong Kong This well-established restaurant has been a Hong Kong favourite for well over a decade. Located at the lower lobby level of The Langham, Hong Kong, The Bostonian has an excellent reputation for its superb steaks, and more recently its fully sustainable seafood menu. Featured by one of Hong Kong’s inﬂuential restaurant bibles, “The Hong Kong Best Restaurant Guide” since 2000 and recommended by The Michelin guide, the Bostonian is a hallmark for impeccable service and exceptional food. Guests can indulge in a tantalising array of fresh seafood from around the world at the “Raw Bar”, including homemade smoked salmon, prawns, crabs and freshly shucked oysters. The enticing menu also includes gourmet favourites such as maine crab cakes, sautéed foie gras, clam chowder, as well as separate menus for the restaurant’s specialties – the Boston lobster galore, seafood sharing platters and Bostonian grill.

KITCHEN, W Hong Kong Kitchen is a modern bistro with a capacity of 200, reflective of W’s signature stylish and fun design. Upon arrival to KITCHEN, the mad hatter’s tea party in “Alice in Wonderland” brings guests to a world of fantasy. Cats play and jump around the stacks of plates, inviting guests to join their games too. KITCHEN’s modern interpretation of timeless classics and equally innovative original masterpieces ﬁll a menu that’s designed to tantalize and satisfy even the most discerning gourmands. Guest can indulge in the fun world of kitchen, while relaxing in the pleasant and interactive dining experience, sampling the delicate cuisine on offer from all over the world.

cafe TOO, Island Shangri-La, Hong Kong T The innovative cafe TOO brings casual dining to a higher level of creativity. Their ten cooking theatres, each featuring a different culinary style, are showcases for the best of international cuisine as well as stages for their chefs' engaging performances.

Terms & Conditions • • • •

You must be a member of the British Chamber to be eligible for this offer The dining vouchers will only be provided if your referral results in a new member for the Chamber This offer is valid for all members whose referral results in a new Corporate, Overseas or Startup member of the Chamber. It does not apply to Additional members or additional YNetwork members The Chamber will allocate the restaurant vouchers. Members will not be able to choose which restaurant they visit and must adhere to the terms and conditions

Member Discounts Food and Beverage and Accommodation Accor | Members will receive 10% discount on top of the lowest rates that Accor’s Asian hotels are offering on the day (5% off hotels outside Asia Pacific). This applies to over 1600 Sofitel, Pullman, Novotel, Mercure & All Seasons hotels worldwide. For more information please contact Regina Yip on 2868 1171 or email regina.yip@accor.com Alfie’s | Members of the British Chamber of Commerce can benefit from a 10% discount at this chic restaurant in Hong Kong. Berry Bros. & Rudd | Members can benefit from a 10% discount on all retail prices as well as receiving invitations to free tastings and other wine events during promotional period. Courtyard by Marriott Hong Kong | Members will receive a 10% discount on food only in MoMo Café. To make a reservation please call 3717 8888. Dot Cod | All Members of the British Chamber of Commerce of Hong Kong will receive a 10% discount on the bill. For more information please call 2810 6988 or email dotcod@hkcc.org Grand Hyatt Hong Kong | 15% discount on food and beverage at The Grill and 10% discount on all a la carte treatments and spa merchandises at Plateau Spa. To make a reservation please contact the Grill on 2584 7722 or the Plateau Spa on 2584 7688 Hyatt Regency Hong Kong, Tsim Sha Tsui | 10% discount at The Chinese Restaurant, Hugo’s, Cafe and Chin Chin Bar (except during happy hour). To make a reservation please call 2311 1234 JW Marriott Hotel Hong Kong | Members will receive a 10% discount on the total bill at Man Ho Chinese Restaurant, JW’s California, Marriott Cafe, The Lounge, Riedel Room @ Q88, and the Fish Bar & Grill. To make a reservation please call 2810 8366. Le Méridien Cyberport | Members can book a Smart Room at the special rate of HKD1,600 including a daily eye-opening buffet breakfast (subject to availability). You will also receive 20% discount at 5 of the hip restaurants and bars that the hotel has to offer. Furthermore, when you book the 21-day long room package at HKD23,100 you will receive a ‘Round Trip Limousine Service’. For more details please call 2980 7785. Hong Kong Skycity Marriott Hotel | Members will receive a 10% discount on the total bill at Man Ho Chinese Restaurant, SkyCity Bistro, Velocity Bar & Grill, and The Lounge (Promotion does not apply to alcoholic beverages). To make a reservation please call 3969 1888. Renaissance Harbour View Hotel | Members will receive a 10% discount on the total bill at Michelin Star Dynasty Chinese Restaurant, all day dining at Cafe Renaissance, Scala Italian Restaurant and the Lobby Lounge. To make a reservation please call 2802 8888. The Mira Hong Kong | Members will be given special room rates, a complimentary upgrade and fantastic discounted rates on the Spa suite package (subject to availability). For more information please contact Connie Kwan on 2315 5666 or email connie.kwan@themirahotel.com W Hong Kong | Members will receive fantastic offers at Kitchen and Sing Ying. Dine at either of these restaurants and receive complimentary discount vouchers to use at your next meal. For more information or to make a reservation please call 3717 2222.

Britain in Hong Kong

There are many great benefits of being a member of The British Chamber of Commerce. One of those is the Member Benefits program which is an exclusive package of discounts that range from discounted car rental, reduced hotel accommodation, airfares and even relocation costs. Every six months we invite members to prepare a tailor made offer to all the members of the British Chamber. You can find these benefits listed below and for more details please visit our website www.britcham.com

Home Allied Pickfords Hong Kong | For any Home Search completed by SIRVA Relocation, members will receive a FREE local move. Please call 2823 2077 or email homesearch@ sirva.com Bowers & Wilkins | B & W are offering members a 10% discount on all listed price items in the B&W Showrooms in Tsim Sha Tsui and Central. For more information please call 3472 9388 or 2869 9916 Colourliving | As a member of the British Chamber of Commerce, you can enjoy a 10% discount on all normal price merchandise when shopping at colourliving in Wanchai. Please call 2510 2666 or visit www.colourliving.com

Travel & others Avis | Members can receive up to 20% discount off standard rates on car rental bookings. To make a booking please call 28822927 or visit www.avis.com.hk British Airways | As a member of the British Chamber of Commerce you can enjoy an exclusive offer from British Airways. To make a booking please visit www.britcham. com/memberdiscount/british-airways Carey | As the world’s finest chauffeured services company Carey are pleased to offer Britcham members a 10% discount on the base rate of any service, anywhere in the world. For more information please call the international reservations team on +800 0123 4578 or email international.support@carey.com Compass Offices | Compass Offices, a premium serviced office provider, are offering members a one month free Serviced Office space or three months free with a Virtual Office Package. For more information please call 3796 7188 or email hksales@ compassoffices.com Flight Centre | Members will receive HKD150 off the first booking made as well as a complimentary Airport Express ticket per booking. For all holiday and flight enquiries please call Paul Jeffels on 2830 2793 or email paul.jeffels@flightcentre.com.hk Virgin Atlantic Airways | Special offers to London are available exclusively for members of the British Chamber of Commerce. Please call 2532 6060 for more details or to make a reservation. VisitBritain | British Chamber members can enjoy a 5% discount on all purchases from the VisitBritain online shop. Please call 3515 7815 or visit www.visitbritaindirect.com for further information.

Terms and Conditions apply. All member discounts are subject to availability. If you are interested in providing a tailored offer to our members or for more information please contact Emily Ferrary on 2824 1972 or email emily@britcham.com

Events

Britcham and KPMG Rugby Dinner 2012! Thursday 22nd March Held on the Thursday night before the Sevens, the ever popular British Chamber of Commerce & KPMG rugby dinner is the perfect start for the rugby weekend! This year was no exception with tables sold out months before the event and the Hong Kong Football club at full capacity. The evening brought together legendary French Flanker Serge Betsen and former Scotland captain Andy Nicol who shared their anecdotal tales of their lives as rugby players. With a generous helping of humour from British comedian John Moloney, the all-star lineup had guests laughing the night away. A special thank you to John Bentley as our event MC on the night! The event raised HK$305,654 for Crossroads Foundation, to fund a purchase of a new truck allowing them to collect an average of 10 additional tonnes of donated goods per week, with over 600 Hong Kong families in need assisted each year. Crossroads is dedicated to collecting Hong Kongâ&#x20AC;&#x2122;s quality excess and second-hand goods, distributing them to those in need within Hong Kong and internationally. Thank you to everyone who contributed to the cash donations collected on the night and to all the generous donors who bid on prizes in the Auction. The event could not have reached the current level of quality without the ongoing sponsorship from KPMG. Thank you to all the following companies who contributed prizes:

Britain in Hong Kong

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THE BRITISH CHAMBER OF COMMERCE AND STANDARD CHARTERED BANK ANNUAL BALL 2012 ♥

Friday 8th June 2012 Grand Ballroom, The Grand Hyatt 7:30pm - Late Dress Code: Themed Fancy Dress – Camelot Chic

WWW.BRITCHAM.COM/SIR-DANCE-A-LOT FOR FURTHER INFO PLEASE CONTACT BECKY@BRITCHAM.COM

The Jones Lang LaSalle 5-A-Side Corporate Football Tournament! In Association with the YNetwork of the British Chamber of Commerce

A DATE FOR YOUR DIARY DATE:

Wednesday 23rd May, 2012

TIME:

6.30pm – 11.30pm

VENUE: Astro Pitch & Dining Room Hong Kong Football Club, Happy Valley

Britain in Hong Kong

New Approaches to Commercial Space in Hong Kong’s CBD2 Development The proposed transformation of Kowloon East into Hong Kong’s next-generation Central Business District (CBD) will be key to the continuing success of the city as a global financial centre, according to Jones Lang LaSalle in a white paper on Hong Kong’s Grade A office market landscape. The report highlights the vital role that the proposed CBD2 district will play in Hong Kong’s evolving master-plan for commercial space stretching eastwards from the traditional CBD heart of Central, towards Taikoo Shing and all the way across the harbour to Kowloon East. Projections by the real estate consultancy estimate a potential stock growth of 14 million sq ft net (about 18 million sq ft gross) within the areas of Kwun Tong, Kowloon Bay and Kai Tak over the next decade. This would lift the district’s total Grade A office supply level to about 26 million sq ft net, bringing Kowloon East roughly on par with the size of Central as a commercial district. The paper also called for an interim plan enhancing the traditional commercial locations on Hong Kong Island to address the anticipated supply vacuum of new buildings over the next 10 to 15 years before the maturing of the CBD2 plan. For instance, the evolution of Wanchai North, Causeway Bay and Hong Kong East into core business locations outside Central can be supported through government initiatives to help speed up the refurbishment and redevelopment of existing office space, accelerate the incorporation of stratified buildings and the expansion of core commercial clusters, including the connectivity of these locations and the addition of improved amenities within. The paper noted that only a certain number of the buildings within the above clusters needed to be re-developed to achieve the necessary results, citing the commercial cluster surrounding the Wanchai government office complex (namely Wanchai Tower, Immigration Tower and Revenue Tower) as an example. By releasing the three towers to private developers for re-development, the government would be able to expand the supply of buildings with large podium floor plates, which were lacking in Hong Kong and highly sought after by the finance sector.

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Similarly, existing commercial premises in parts of Causeway Bay as well as the areas surrounding Quarry Bay and Taikoo Shing could benefit from the same redevelopment treatment by portfolio landlords into similar sought-after large floor plate buildings. In Causeway Bay, the paper also recommended that the authorities embark on initiatives to support private developers with improved infrastructure and streetscape to enhance the location’s business credentials. According to Jones Lang LaSalle, government incentives to encourage developers within the private sector to participate as partners in driving change would act as a catalyst to bring about greater CBD re-development. This could take the form of the introduction of action areas and enterprise zones as locations within the mentioned districts, as well as bonus GFA for refurbishment or re-development projects. “The suggested measures, coupled with the proposed CBD2, should dovetail seamlessly into a broader city-wide commercial real estate plan that will entrench Hong Kong firmly in the forefront of global finance, alongside London and New York,” said Marcos Chan, Head of Research, Greater Pearl River Delta, Jones Lang LaSalle, Hong Kong. The paper highlighted the importance of efficient commuting between Kowloon East and the current Hong Kong Island CBD to ensure the success of CBD2. A second suggestion involved facilitating the right developments to attract large MNC occupiers, particularly within green-field sites in the Kai Tak area, as there was limited scope to control the plot sizes of existing brown field redevelopment sites in Kowloon Bay and Kwun Tong. “We believe that Kowloon East has every potential to fulfil the Government’s aspirations of turning it into Hong Kong’s next generation business hub,” said Gavin Morgan, Deputy Managing Director and Head of Leasing, Jones Lang LaSalle, Hong Kong. “But to achieve this, we need to see appropriate commercial real estate clustering across Kowloon East and extensive gentrification works to complete its metamorphosis from an industrial district to a commercial centre.” If you would like further information about Jones Lang LaSalle, please contact Gavin Morgan at gavin.morgan@ap.jll.com or call (+852) 2846 5139.

Upcoming Events Educating Children in Hong Kong

Inspirational Women Series — An Engineer in Wonderland

Event date: 25 Apr 2012 - 12:30 - 14:00 Venue: Conference Room, 6 Floor, The British Consulate-General Speaker: Elaine Macdonald, Director, Educational Consulting, SIRVA Relocation Hong Kong

Event date: Thu, 03/05/2012 - 12:30 - 14:00 Venue: 1/F, The British Consulate-General Speaker: Professor Julia King CBE FREng, Vice-Chancellor Aston University, Birmingham, UK

There are a wide variety of curricula and school systems in Hong Kong, each with different application processes. Some schools prioritise applicants by their nationality or whether a sibling is already enrolled at the school, others prioritise applicants by the date they submit their nationality or whether a sibling is already enrolled at the school, while others still prioritise applicants by the date they submit their application or even by the applicant’s gender. These challenges can make enrolling a child in school a stressful experience for parents, some of these challenges include: application submission deadlines, iInaccurate waitlists: Gender balancing, ESL support, debentures.

Shaken Not Stirred Networking Drinks Event date: Thu, 26/04/2012 - 18:30 - 20:30 Venue: CENTRAL/CENTRAL, 1/F Central Building, 3 Pedder Street, Central Come and join us for this unique Shaken Not Stirred networking drinks at CENTRAL/CENTRAL – home to luxury and contemporary brands including Anne Klein New York, Carolinna Espinosa, Easy Spirit, EQ:IQ, Joan & David, Karen Millen, Nine West and Steve Madden. Mingle and socialise in a relaxed, informal, welcoming setting with an opportunity to win a bottle of champagne!

The Women in Business Committee are delighted to invite you to the second in their Inspirational Women Series sponsored by Barclays. Join us for a luncheon discussion to hear Professor Julia King share her insights, drawn from personal experience during a career as an engineer and a senior leader in both academia and industry. Analysing the UK’s ‘leaking pipe’ phenomenon (whereby women remain unpromoted despite good qualifications) and with a particular focus on science and engineering, Professor King will discuss how organisations can better support the progress of women.

Building Towards 2021 Vision For Hong Kong As A World City Event date: 04 May 2012 - 9:00 - 17:30 Venue: Room S421, Hong Kong Convention & Exhibition Centre Building towards 2021 – Vision for Hong Kong as a world city is the theme for this year’s Royal Institute of Chartered Surveyors Hong Kong Conference. Into its 4th year, the Conference will again bring in a line-up of high proﬁle international speakers to address on the topics relating to “developing the “developing the infrastructure for economic growth” and “quality city and quality life”. (This is not a British Chamber event.)

Investing in Mongolia – Opportunities and Challenges in the Future Event date: 11 May 2012 - 8:00 - 9:15 Venue: Harcourt Suite, 1/F, The Hong Kong Club Speaker: Michael Aldrich, Managing Partner, Ulaanbaatar Office, Hogan Lovells Since the signing of the Oyu Tolgoi investment agreement in October 2009, Mongolia has experienced an unprecedented surge of economic growth, clocking in at a 17.9% growth rate this year. Nevertheless, the country stands at a cross-roads. In his talk, Mr Aldrich will share his perspective on the business and legal environment in Mongolia and the impact of the election on the country’s future.

New Appointments Solicitor Karen Lee joins Tanner De Witt’s insolvency and restructuring team

Gavin Morgan Appointed as COO at Jones Lang LaSalle Hong Kong

Karen Lee joins Tanner De Witt after 6 years in the Global Compliance Department of Goldman Sachs in Hong Kong, where she was responsible for regulatory shareholder filings and regulatory inquiries in the Asia Pacific Region. Karen’s move to the firm allows the restructuring and insolvency practice to cater for growing client needs and increasing work volume, particularly given the increasing number of matters with a regulatory element.

Gavin Morgan has been appointed as the Chief Operating Officer of Jones Lang LaSalle, Hong Kong, with immediate effect. Morgan assumes leadership of the Hong Kong ofﬁce with Joseph Tsang retaining his role as Managing Director and Head of Capital Markets responsible overseeing residential and investment sales as well as consultancy business in Hong Kong.

Robin Darton, co-head of the practice with Ian De Witt, commented: “Karen brings yet more depth of experience and knowledge to our team. With her track record and experience she is a great fit for the firm.” Karen’s experience includes assisting and advising in SFC investigations regarding allegations of market misconduct; commercial fraud; and general commercial litigation matters including contractual disputes, shareholder disputes, director’s duties, receiverships, corporate restructuring and insolvency.

Morgan brings to his role as COO his expertise in commercial real estate, with a specific focus on ofﬁce leasing and transactions management. He has extensive experience in project leasing for a broad range of commercial developments, including some of the world’s best known office towers. In doing so Morgan has worked with numerous international corporations, including KPMG, WPP, AIA, Citibank, Baker & McKenzie and DLA Piper. As COO of Jones Lang La Salle, Hong Kong, Morgan will lead the day-to-day operations of the business and each of the Hong Kong business lines. On top of this responsibility, he will also retain his role as Head of Leasing, continuing to utilise his personal expertise in the area.

Britain in Hong Kong

News Asian firms offer more variable pay — shows Mercer survey Significant differences in executive pay practices between major Asian and Western firms operating in Asia were identified by Mercer’s latest Asia Executive Remuneration Snapshot Survey which was conducted among 201 companies of both types of companies across Asia. With retention being one of the top three talent challenges, particularly among Asian firms that are in growth mode, annual variable pay tends to be higher at Asian firms compared to Western companies. “Asian companies prefer more flexible pay structures which can be adjusted based on business performance,” says Dr Hans Kothuis, Asia Pacific rewards consulting leader at Mercer. The performance metrics on which these bonuses are based are more equally balanced between the top and bottom line measures at Asian firms versus at Western firms which tend to place a greater emphasis on profit based metrics (83% at Western companies versus 61% at Asian firms). Asian firms also give more importance to a bonus determination process that is less formulaic and more discretionary Asian companies were more likely to make changes to long-term incentive plans and increase pay-out targets in 2012. They also had an increased awareness of hot-button compensation issues and the need for more engagement and transparent communication with shareholders.

Base pay increases highlight regional differences in financial services; pay for ‘control and risk roles’ evolves Base pay increases in the world’s financial services sector continue to be markedly different depending on region, according to Mercer’s Global Financial Services Incentive Plan Snapshot Survey. The data shows that pay rises for employees in Asia-Pacific (Asia-Pac) are twice as high, and more, compared to employees in Europe, Middle East and Africa (EMEA) or the Americas. Forecasted base pay increases in Asia Pacific are anticipated to be 5%, with no companies expecting base salary freezes. By comparison, increases in the Americas are expected to be 2.5%. The second reported trend is the continuing development of pay levels and the changing pay mix for the so-called ‘control roles’ within financial services. Globally, this employee group will receive an above average pay increase of around 3% in 2012. In parallel, their pay mix is changing in direct response to regulatory pressure to put more emphasis on fixed salary. The final trend is the changes to bonus design taking place, with over half of respondents stating that their organisations are planning to make changes to bonus plan design in 2012.

Hong Kong Expected to Benefit from Regulatory Reform of Insurance In a new edition of KPMG’s Evolving Insurance Regulation, the global accountancy firm has highlighted some of the main regulatory change which is now forcing insurers to think about where they want to focus their business. Hong Kong, they point out, could well be a beneﬁciary of this. Insurers worldwide face the expense of adapting to major changes in solvency requirements stemming primarily from the “Solvency II” initiative. Many regulators in Asia plan to follow suit with their own local adaptations of Solvency II. Therefore, the report argues, it is important for the credibility, safety and soundness of the local market for Hong Kong and other Asian jurisdictions to adopt more advanced regulatory regimes similar to Solvency II and the “Insurance Core Principles” of the International Association of Insurance Supervisors. Insurance regulators now have the mandate to put through e n h a n c e m e n t s t o r i s k a n d c a p i t a l r e g u l a t i o n . T h e s e enhancements are likely to lead to the implementation of a risk-based capital regime in Hong Kong, alongside required enhancements to the enterprise risk management (ERM) framework of insurers. The enhancements are also likely to mean a change in the basis and level of required solvency capital, and an increase in the sophistication that insurers are required to display when managing their business and strategising for future growth.

New rules ‘will hurt global economy’ warns Mervyn Davies The proposed new global banking and insurance regulations set up in response to the ﬁnancial crisis will hurt the world economy and should be adjusted, former British trade minister and veteran banker Mervyn Davies warns. “The world economy is facing a number of challenges. The new banking regulation Basel III and insurance regulation Solvency II are among those,” Davies said in an exclusive interview with the South China Morning Post last week after giving a speech at a lunch of the Quintessentially Foundation and British Chamber of Commerce. Davies did not comment on whether the rule requiring insurance companies to increase capital should be changed, but he insisted that Basel III “should definitely be adjusted”. He also expressed concern that differing regulations in different markets might lead to so-called regulatory arbitration, where companies shift to markets with less restrictive rules.

Clifford Chance advises on RM6.5 billion financing for Malaysian power station Leading international law firm Clifford Chance has acted as international counsel to lenders to Malakoff Corporation Berhad, via its wholly-owned subsidiary, Tanjung Bin Energy Issuer Berhad, on RM6.5 billion financing for a new 1,000 MW supercritical coal-fired power plant. It will be built adjacent to the existing Tanjung Bin power plant. The senior debt facilities include the issuance of a RM3.29 billion serially-amortising senior secured Islamic bond (Sukuk), a US$400 million term loan and a RM700 million term loan. The junior facility comprises equity loans of RM1.3 billion. This power plant was awarded to Malakoff in June 2011 following a competitive bidding process, overseen by the Energy Commission of Malaysia. It represents the first participation of international lenders for a power project financing in Malaysia. “We are very pleased to have assisted in this landmark transaction,” said Singapore partner Ting Ting Tan, who led the deal. “This is not only evidence of the growing importance of these power projects in Malaysia and Southeast Asia, but also the increased international interest that they bring.”

New Members STARTUP

CORPORATE

ADDITIONAL

Sceneric (Hong Kong) Limited Malcolm Wild Managing Director Tel 2824 8680 malcolm.wild@sceneric.com.hk 66/F, The Center, 99 Queen’s Road, Central, Hong Kong Computer / Technology / IT

Jack Wills Mark Parker President - Asia Tel 2153 0888 mark.parker@jackwills.com The Workstation, 17/F, 43 Lyndhurst Terrace, Central, Hong Kong Retail / Wholesale / Sourcing

John Swire & Sons (H.K.) Ltd. Rebecca Sharpe GM Corporate Finance Tel 2840 8818 rebeccasharpe@swirepac.com 33/F, One Paciﬁc Place, 88 Queensway, Hong Kong Conglomerate/Holding Company

Forensic Asia Limited Gillem Tulloch Managing Director Tel 2849 3301 gillem@forensicasia.com 1801-02, Wing On House, 71 Des Voeux Road, Central, Hong Kong Market Research

JP Morgan Private Bank Christopher Guinness Executive Director Tel 2800 1000 christopher.eh.guinness@jpmorgan.com 29/F, Chater House, 8 Connaught Road, Central, Hong Kong Banking

Gammon Construction Limited Gilbert Tsang Executive Director Tel 2516 8072 gilbert.tsang@gammonconstruction.com 28/F, Devon House, 979 King’s Road, Quarry Bay, Hong Kong Construction

Easycrate (HK) Limited Mark Hendley Director Tel 2914 2200 Mark.hendley@easycrate.hk Unit L, 16/F, Superluck Industrial Centre, 30-38 Tai Chung Road, Tsuen Wan, New Territories, Hong Kong Crate Hire / Self Storage

Discovery Bay Resort Spa Anne Busfield General Manager Tel 6317 3518 anne.busfield@dbh.hkri.com Hotel Pre-opening Office: Unit LG12-17, 92 Siena Avenue, Discovery Bay, Lantau Island, Hong Kong Hospitality

We Collect and deliver your car FREE OF CHARGE (subject to distance) We provide good, quick repair service at reasonable prices

Our competitive Labour charges:

From

Lubrication Service

$ 110

Tune Up Engine

$ 220

Engine Decoke & Grind Valves

$ 1,500

Engine Overhaul

$ 4,000

Brake System Overhaul

$ 900

Clutch Mechanical Overhaul

$ 1,000

Air Condition Freon Recharge

$ 400

Alternator Overhaul

$ 400

Starter Motor Overhaul

$ 400

Riverbed Technology Peter Elsey Director Tel 3570 7880 peter.elsey@riverbed.com Level 23, One Island East, 18 Westlands Road, Island East, Hong Kong Computer / Technology / IT GRI Fashion HK Ltd Iris Phongthitithep Assistant Regional Marketing Manager Tel 2480 2705 iris_ph@griretail.com 27/F, Regent Centre A, 63 Wo Yi Hop Road, Kwai Chung, Hong Kong Fashion & Jewellery

ALL REPAIRS WITH THREE MONTHS GUARANTEE

Our Business Hours 8am-6pm, Mon-Sat & Public Holiday Our 24hrs. Emergency Towing Agent “Firstone Towing Services” 8203 3411 Please call us at 2565 6166 or Fax: 2856 1047 E-mail Address: fookie@netvigator.com

FOOKIE MOTORS CO. LTD. Shop 7, G/F, Paramount Bldg., 12 Ka Yip Street, Chai Wan, Hong Kong.

YNETWORK Jack Wills Olly Finding Head of Marketing, Asia and Middle East Tel 2153 0888 olly@jackwills.com The Workstation, 17/F, 43 Lyndhurst Terrace, Central, Hong Kong Retail / Wholesale / Sourcing

Ernst & Young Peeya Choudhury Manager, Advisory Services Tel 2629 3561 peeya.choudhury@hk.ey.com 22/F, CITIC Tower, 1 Tim Mei Avenue, Central, Hong Kong Accounting Riverbed Technology Maurice Tsui Regional Director, Greater China Tel 9023 2330 mtsui@riverbed.com Level 23, One Island East, 18 Westlands Road, Island East, Hong Kong Computer / Technology / IT

OVERSEAS Ampleforth Abbey & College Jozef Mycielski Development Director Tel 01439 766766 jmm@ampleforth.org.uk Ampleforth Abbey & College, York, YO62 4EY, United Kingdom Education

INDIVIDUAL Michael Chi On Wong Tel 9875 6737 michael.c.wong@kellogg.oxon.org 18/F, Warwick House East, Taikoo, 979 King’s Road, Quarry Bay, Hong Kong

Britain in Hong Kong

Shaken Not Stirred Sponsored By

March 15 2012 , Chin Chin Bar, Hyatt Regency Hong Kong, Tsim Sha Tsui

Mark Hendley (Easy Crate), Tina McLintock (HSBC)

Michelle Woo (TMF Group), Avi Sklut

Luke Norwood (EC Harris), Jérémy Artan de Saint Martin (iExcel)

Tina McLintock (HSBC), Jack Guest (HSBC)

Patrick Lam (A&Q Partnership), Shiang Wong (MSCI)

Nick Todhunter (Prime Portfolio), Ben Todhunter (The Henley Group)

Emily Ferrary (British Chamber of Commerce in Hong Kong), Rebecca Palser (The Risk Advisory Group HK Ltd), Alfred Lau (UBS)

Dominic Masterton-Smith (Human Communications), Edwin Sun (Unigroup Worldwide - Hong Kong Limited)

Vivian Au (Kreab Gavin Anderson), Priscilla Wong (Kreab Gavin Anderson)

Marianne Bartholet (UBS), Dominique Bunn, Andrew Bunn (Lufthansa), Edward Ng (Santa Fe), Deepak Pallan (deVere)

Wendy Tam (Dot Cod), Benjamin Tiede (Talent Intelligence), Andrea Demy (AGS Four Winds)

James Tuttiett, Sheila Flavell