Britain in Hong Kong

J a n u a r y/ F e b r u a r y 2012 • Vo l 27 • No 1

Not for sa l e

In This Issue

PAGE

Thinking Smaller Everybody’s Talking about SMEs, but What about the Micros and the SOHOs?

4

Entrepreneur Pitfalls

Anthony Behan, Member of the SME Committee, The British Chamber of Commerce in Hong Kong

Companies

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12

New Media

often describe

the personal computer, the mobile phone

themselves as SMEs; as in “We’re an SME”.

and the internet. The garage became

This is obviously an impossible state of

the Research and Development Unit; the

affairs. It’s like going into Marks and Spencer

spare room, the office, and the kitchen,

to buy a jacket and on being asked what size

the boardroom. So Micros/SOHOS have

you are, you reply; “I’m small and medium

become another rapidly growing segment

sized”. Clearly you can’t be both! You are

under the SME umbrella.

either small or medium sized. Many small companies simply hope by using the SME label, they will appear bigger in the market place! I know. I’ve done it myself!

Broadly speaking, the SME label is an umbrella description used by governments a n d o r g a n i s a t i o n s s u c h a s t h e Wo r l d Bank, the United Nations, the World Trade

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16

Organisation, Chambers of Commerce and so on, to describe a wide sector of the business community.

Christina Noble

Size Definitions of SMEs, and Micros So what are the size definitions for Micro/SOHO, small and medium sized enterprises? Although there is as yet no official agreed international standard, there is a general move in that direction.

Both the EU and the USA agree on the same threshold level of less than 10 employees for Micros /SOHOs. The big picture overall is:

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21

Jaguar Test Drive

1. Micro/Small Office: Home Office (SOHO)

less than 10 employees

2. Small

Canada/EU: less than 50 employees

However, over the last twenty years there

USA: less than 100 employees

has been a big shift away from Large and

Canada: less than 100 if goods producing

Medium Enterprises towards the Small a nd Mic ro/S O HO ( S ma ll O ff ic e : H om e

3. Medium

Office) enterprises end of the market. The

Plus

entrepreneurial boom started mainly due

• News / New Appointments • Events

to three technological developments i.e.

EU: 50 – 250 employees USA: 100 – 500 employees Canada: 100 – 499 employees (Continued on page 2)

www.britcham.com

COVER STORY (Continued from cover)

Breakdown of SME Figures by Employees in 1. The European Union 2. Canada and 3. Hong Kong 1. European Union In 2008 there were over 20 million enterprises in the European Union. 43,000 were large scale enterprises (LSEs). The rest (99.8%) of the enterprises in the EU were SMEs. Within the non-financial business economy enterprise population, almost 92% were micro enterprises employing less than 10 people.

Therefore, the typical firm in the EU can be described as a micro enterprise.

Small enterprises (<50 employees) represent 7%; Medium enterprises (50–250 employees) 1.1% Total SMEs = 99.8%.of which 92% are micro enterprises Source: “European SMEs under Pressure”. Annual Report on EU Small and Medium Sized Enterprises 2009: European Commission

2. Canada In Canada a similar pattern has emerged: Micro (at the even smaller category of 1–4 employees) 54.6%; Small (5–99 employees) 43.4%; Medium (100–499 employees) 1.7%; Large (500+ employees) 0.2% Total SMEs = 99.7% of which 54.6% are micro enterprises

Further breakdowns could include: 1. What percentage of companies are micro, small, medium or large?

One can only assume that if the micro category of 1–10 employees, rather than 1- 4

2. How do the figures now compare with ten years/five years ago?

employees, were used the figures would be closer to the EU’s.

3. What do we expect them to be in five/ten years’ time?

Source: “SMEs at a Glance”. Business Development Bank of Canada (August 2011)

Other questions to be addressed are what financial help, support and training needs to go into helping the development of the high tech micro companies, for example. Also we

3. Hong Kong In Hong Kong the situation is not as clear. The Government Trade and Industry

need to examine what are future trends based on technological change, in particular for the growth of online businesses, which normally require small numbers of staff.

Department - Support and Consultation Centre for SMEs defines small and medium sized enterprises (SMEs) as: “manufacturing enterprises with fewer than

Overall, micro and small enterprises play a central role in the Hong Kong economy. They

100 employees and non-manufacturing enterprises with fewer than 50 employees.

are a major source of entrepreneurial skills, innovation and employment. However they

As at June 2011, there were about 300,000 SMEs in Hong Kong. They accounted

are often confronted with problems in the workplace. They frequently have difficulty

for over 98% of the total business units and provided job opportunities to over 1.2

in obtaining capital or credit, particularly in the start up stage. Their limited resources

million persons, about 48% of total employment (excluding the Civil Service). Most

reduce access to new technology and innovation. Therefore support for micro and small

of the SMEs were in the import/export trade and wholesale industries, followed by

enterprises should continue to be one of Hong Kong’s priorities for economic growth, job

the retail industry. They accounted for over 50% of the SMEs in Hong Kong and

creation and social cohesion.

represented about half of SME employment”.

In conclusion, it was excellent news to read in the October issue of “Britain in Hong Kong” However there seem to be no figures on what percentage of enterprises are small

that Hong Kong’s Chief Executive, Donald Tsang, headed a major Trade Development

Enterprises and what percentage are medium ones. Also the Hong Kong Government

Council (HKTDC) delegation to the “Think Asia, Think Hong Kong” Symposium in London

Trade and Industry Department - Support and Consultation Centre for SMEs does not

in September, to emphasise the city’s key place in the development of China and also

define micro enterprises as a specific sector under the SME umbrella. It also does not

as entry point into the huge Asia market. At the same time the British government is

keep separate statistics on micro enterprises with 1-10 employees as does the EU,

exhorting UK SMEs to look beyond their native shores with Lord Green’s “Go East, Young

Canada and the USA.

Person” message.

Generally speaking, with the loss of most manufacturing to the Pearl River Delta, it can

As Hong Kong is, and probably always has been a micro, small enterprise (MSE) economy,

be estimated that most SMEs in Hong Kong are now actually small enterprises i.e. less

for the most part, rather than an SME economy, we ought to send the message that even

than 50 employees or micro enterprises with less than 10 employees, when classified

the smallest of companies are welcome. And in Hong Kong, we ought to collect more data

by EU and Canadian guidelines, which are becoming the international standard.

on our Micros/SOHOS to show how much Hong Kong loves and needs them as well as

Manufacturing/non manufacturing no longer seems relevant whereas the number and

our small, medium and large enterprises!

size of companies involved in “high tech” development does.

2

Therefore, instead of stating that there are about 300,000 SMEs in Hong Kong, it may

Anthony Behan

be more helpful to break down the “umbrella description” into smaller units so that the

Member of the SME Committee

data “tells a story”. Then as a result some action could be taken.

The British Chamber of Commerce in Hong Kong

www.b ri tc ha m. c o m

The Magazine of the British Chamber of Commerce in Hong Kong

CHAIRMAN’S MESSAGE

Editor

A Happy New Year to all of you. I hope you had good holidays. We’ve had a wonderful Christmas and three weeks of eye-catching

Sam Powney

and tantalising events marking the Chinese New Year of the Dragon. From my perspective, I am certainly addressing the waistline

Design

issue, I have always had a sense gyms were for those that wanted accelerated hip and knee problems, however I have finally yielded

Bill Mo Alan Wong Ken Ng

to the pressure and I have now been at the gym six times over the last few weeks…..no impact on the waistline yet, but the good

Advertising Contact

I have enjoyed reading and meeting the various analysts on their predictions for business in 2012, now the interesting thing is that they

Charles Zimmerman

are all very similar in opinion, long gold, slow recovery in the US, slowing down of China growth, short Euro (but it will survive) etc. I

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: Ian@speedflex.com.hk sam.powney@speedflex.com.hk Advertising: charles@speedflex.com.hk

news is that the joints are holding up well…… I will persevere!

really hope we see more optimism during the year.

From my perspective, whilst everyone focuses on the negatives in Europe, I feel very optimistic that the US will rebound during this year and start to lead global recovery. This certainly will benefit us in Hong Kong, whose future I remain very bullish about.

For the British Chamber we have a few priorities to make sure that 2012 is a resounding success for British business in Hong Kong.

To realise that success, we need to focus on ensuring that Hong Kong remains a competitive and welcome destination for foreign businesses to succeed and grow.

I believe that simple and achievable goals should be set at the beginning of each new year and these are as follows: 1. We will work diligently for our Members continuing to ensure we are an inclusive chamber working for all businesses and ensuring we have strong and respectful relationships with government.

2. We will continue to focus on the real issues impacting our members including international school places, competition law,

British Chamber of Commerce Secretariat Executive Director CJA Hammerbeck CB, CBE

General Manager

environment and the social impacts of an ageing population.

3. We will ensure our committees remain strong and are focussed on the betterment of Hong Kong.

4. We will continue to promote British and International Business and build on the excellent relationships we have with both the British and HKSAR governments.

Cynthia Wang

Marketing and Communications Manager

5. We will continue to promote events of real interest to our members and remain an authoritative voice in Hong Kong.

Emily Ferrary

6. We will create rewarding opportunities for our members to network in business.

Special Events Manager Becky Roberts

Our editorial focus this issue is around entrepreneurship – do enjoy the articles that provide vital tips on micro businesses and the key

Events Executive

challenges in setting up new ventures.

Mandy Cheng

Business Development Manager Dovenia Chow

There are too many exciting Chamber events to mention in the coming month, but let me highlight just two which really stand out.

Firstly, please don’t miss the Joint Business Community Luncheon with our Financial Secretary John Tsang on the 22nd of February.

Scheduled for less than three weeks after his Budget Speech, the business community has invited him to speak about his policies at

Membership Executive

the Exhibition and Convention Centre. And on the 28th we will be welcoming John Micklethwait, Editor-in-chief of The Economist to

Lucy Jenkins

speak at our Distinguished Speaker Lunch – another one to watch out for!

Accountant Michelle Cheung

On behalf of the Chamber, I wish you all success, both of prosperity and for happiness and health to our members in 2012. Over

Executive Assistant

the coming months, let’s work on these priorities together and collectively we will ensure the British Chamber goes from strength

Jessie Yip

to strength.

Secretary Yammie Yuen

Office Assistant Sam Chan Kevin Taylor

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.

ENTREPRENEUR PITFALLS . . . . . . . . . . . . . . . . . . . . 4 ENTREPRENEUR 201. . . . . . . . . . . . . . . . . . . . . . . . . . 6 SCHIZOPHRENIA AND FOREBODING . . . . . . . . . . . . 9 RETHINKING TURNOVER . . . . . . . . . . . . . . . . . . . . . 10 UK FINANCE BILL . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 BBC WORLD: INTERVIEW . . . . . . . . . . . . . . . . . . . . . 12 GLASS RECYCLING . . . . . . . . . . . . . . . . . . . . . . . . . . 15 CHRISTINA NOBLE . . . . . . . . . . . . . . . . . . . . . . . . . . 16 FAITH SCHOOLS . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

BRITCHAM CHARITY . . . . . . . . . . . . . . . . . . . . . . . . .

DETOXING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

JAGUAR TEST DRIVE . . . . . . . . . . . . . . . . . . . . . . . .

PERSPECTIVE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

NEWS / NEW APPOINTMENTS . . . . . . . . . . . . . . . . .

MEMBER DISCOUNTS. . . . . . . . . . . . . . . . . . . . . . . .

NEW MEMBERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

CHRISTMAS DRINKS . . . . . . . . . . . . . . . . . . . . . . . . .

SHAKEN NOT STIRRED . . . . . . . . . . . . . . . . . . . . . . .

19 20 21 22 23 24 25 26 27

BUSINESS

Top 10 Mistakes of

Entrepreneurs

By Barry Jones, Principal, Maroon

I

work with entrepreneurs and frequently see the same mistakes. Many come from not

having a properly thought out business strategy. However, some simply reflect a poor understanding of capital markets.

A UK study reveals only 2% of business plans get funded: What happens to business plans sent to angel investors?

Rejected after a 30 minute review 60% Rejected after a 3 hour appraisal 25% Rejected after a full day evaluation 10% Rejected following failed negotiations 3% Succeed in raising funds 2% Source: Investigating the Equity Gap, Tanaka Business School Imperial College & Cranfield School of Management

So 60% never make it past an email inbox, 35% stumble at the pitch / due diligence, leaving only 5% to reach meaningful discussions. Of those, only 40% close.

Business is similar – unless you are a PhD working on cutting edge research, odds are you are not going to have a truly unique idea. Most new businesses either take an existing product into a new market, or make small refinements to an existing product.

Despite this, entrepreneurs often proclaim the equivalent of the light bulb. Investors will not believe you, and you risk losing credibility. What will impress investors is your ability to clearly articulate the positioning of your product in a crowded market place.

Mistake 4

The world has over 6 billion people trying to scratch out a living. Someone out there will be equally motivated to serve the same consumer needs as you. It is a good idea to know who these people are, what they are doing, and what they might do in the future.

If you show respect to your competitors, investors will respect you more. They are not expecting you to present them with a natural monopoly. Just show that you have a sound strategy for getting your share of the pie.

Mistake 5 What is going wrong? My top ten are listed below.

Mistake 1

Dog Cannons

“I’ve cracked it! I’ve finally rendered the door bell obsolete!”

“This is a drawing of a dog being fired out of a cannon.”

“Exactly! You simply fire the dog out of the cannon, through the window of the house you wish to visit!”

- That Mitchell and Webb Look, BBC. Most business plans only get a cursory review. There are many reasons, but the main one is what I call a dog cannon. Almost all business ideas have merit. But many come with wideeyed stares, which on paper look like they were fired out of a howitzer. Investors do not have time to indulge them.

It is not enough to scribble down your idea. It needs to be crafted into a feasible business model.

This takes time, and most importantly qualified feedback. Get plenty of advice from people with a wide range of skills / experiences. Encouragement from loved ones, although important, does not count. In fund raising terms, this is the first hurdle to climb. Get past your dog cannon.

Mistake 2

Building Rome

We know Rome wasn’t built in a day, but have you ever wondered how long it took?

Apparently, the answer is 870 years. The rule of thumb for a successful business is 10 years.

However, many entrepreneurs adopt the Henry Ford approach and pay scant attention to the lessons of the past. Business plans are littered with dreams of sprawling empires, multiple products, hockey stick revenues and an IPO in 5 years.

This is unrealistic. Worse, it scares investors. Empires cost a lot of money, and the risk of failure is high. Investors like to see focus. Start with one idea – a single product and a single distribution channel. Get proof of concept, and then scale. Make that idea work first, then you can take the next step in building Rome.

Mistake 3

Light Bulbs

John Lennon said that without Elvis, there would be no Beatles. Elvis himself was influenced

by Blues music, and the beat goes on.

4

www.b ri tc ha m. c o m

What Competition?

Studies show that 93% of us are above average drivers. The business parallel is that our competition consists of incompetent, bureaucratic, visionless idiots.

Build It and They Will Come

There is a direct correlation between product complexity and “navel gazing”, with an implicit assumption that the perfect product will automatically generate sales.

Unfortunately, customers do not have divining rods. The burden is on you to go find them. A sales strategy should clearly identify your targeted customers, but don’t stop there. You must monitor performance and collect metrics.

Calls made, website hits, widgets sold – whatever drives your business, measure it.

Metrics make it much easier to sell your investment story. If you demonstrate that the $10,000 you spent on marketing is generating $50,000 in sales, an investor is more likely to believe that an investment of $100,000 will generate $500,000.

Mistake 6

I Did It My Way

There is a saying: “You bet on the jockey, as much as the horse”. This represents a culture in which we see business success being driven by a headstrong entrepreneur.

We have images of Bill Gates, Steve Jobs and Warren Buffett creating their empires single handedly.

This is wrong on two fronts. Firstly, research has shown that the horse is more important than the jockey, which is why you need to get your horse over hurdles 1 – 5. Secondly, you need to give credit to people like Paul Allen, Steve Wozniak, Charlie Munger and countless others who are also responsible for Microsoft, Apple and Berkshire Hathaway.

Investors like to see a great horse, with a team of jockeys. Different skill sets, good chemistry, and an ability to synthesize diverse opinions.

Mistake 7

War and Peace

So, if you’ve got this far, you should be in a position to send something to investors. But what do you send them?

Go into any bookstore and you will find volumes on writing business plans. Business plan are great for helping you structure your thoughts, but don’t expect investors to spend more than five minutes reading them.

Upcoming Events Reduce, Reuse, Recycle” – Options for Food Waste Management in Hong Kong Wed, 15/2/2012, 16:00 - 18:00 6/F, British Consulate-General, 1 Supreme Court Road Speaker: Rita Poon, Grand Hyatt Hong Kong; Martin Putnam, Hong Kong Airport Authority; Gabrielle Kirsten, Feeding Hong Kong; Mr WP Yu from EPD; Dr. Andrew L. Thomson Is Hong Kong too crowded for proper recycling? Is it too hot to collect food? What are myths and what are real challenges towards a more sustainable future for food waste management?

What could be drivers for the industry (food retailers, hospitality sector, etc.) to improve their food waste management? Join us at this Environment Committee-organised panel event to find out the answers to these questions.

Will The Dragon Breathe New Life Into The Property Market in 2012?

To raise capital, you need to sell the business. And you sell a business like anything else. Perfect your elevator pitch, send a short teaser, get a meeting and make a 10 slide presentation. If investors are interested, you will then get plenty of opportunity to send them all the details they want to see.

Mistake 8

Square Peg, Round Hole

Thu, 16/2/2012, 08:00 - 09:15 Harcourt Suite, 1/F, The Hong Kong Club,1 Jackson Road, Central Speaker: Anne Marie Sage, Regional Director, Head of Residential Leasing & Relocation & Gavin Morgan, Deputy Managing Director and Head of Leasing, Jones Lang LaSalle With an increasingly uncertain economic environment and declining markets in Hong Kong, will the city continue to buck global trends and outperform, or are we destined to be tarnished by the economic travails of Europe and the Americas.

The next question is who to target? Cash strapped entrepreneurs often chase every pot of gold in sight. This is time consuming, and it just doesn’t work. You need to groom investors who are genuinely interested in your company.

Anne Marie Sage, Regional Director Head of Residential Leasing and Relocation with 17 years in the industry and Gavin Morgan, Deputy Managing Director and Head of Leasing at Jones Lang LaSalle, will outline their projections for the residential and commercial leasing markets in 2012.

Unless your business is already growing rapidly, or has clear proof of value in a “buzz” sector such as technology or cleantech, the doors of professional investors are closed to you. Most early stage companies find their investors from existing networks.

Top Tips for Wine Investment

First of all, look at all the people you know. Are there any wealthy people who either like you a lot (i.e. friends and family) or have sector knowledge / general business expertise (potential angels)? That is your investor list. If it is short, have a strategy to add to it.

Investors need to know and trust you before they invest. It takes more than a good business plan. You need to work smart in building a capital pipeline, just as you build a sales pipeline for your products.

Mistake 9

Bending the Truth

Investments in early stage companies are usually too small to justify a formal due diligence.

Instead, investors typically rely on face-to-face meetings to gather information.

Entrepreneurs are prone to abusing this process, painting a bright picture of the company’s future prospects and attempting to brush all the annoying flaws in the business model under the carpet. Avoid being “economical with the truth”. The investor-entrepreneur relationship is more like a marriage than a date. Investors can accept flaws in the business model, and will help you solve them. However, they dislike surprises. Take a long-term view of investors as business partners, rather than a meal ticket.

Mistake 10

Cash is Not King

This article started with statistics on businesses getting funded. Clearly entrepreneurs need investors, and cash is most definitely king, stronger than ever post GFC. Inevitably, entrepreneurs will have a higher valuation of their business than an investor. I suspect that this is the main driver for 3 out of 5 deals falling down at the negotiating table.

When faced with a difference over valuation, most entrepreneurs will first haggle as if they are in a Turkish bazaar, before resorting to cold war brinksmanship. This creates a hostile environment, and gives investors the opportunity to walk away. Hardly the way you want to start the relationship.

A better option is to understand how the investor is valuing your business, and start tweaking the assumptions. There are also plenty of methods of setting the valuation based on a future milestone. In most negotiations, there is a win-win solution hidden somewhere.

If you want to get funded, it is up to you to find it.

And Finally... Mistake 11 It is said that the biggest mistake is giving up. It is not easy to risk everything on a dream, and the entrepreneurial experience is an emotional rollercoaster. I hope this article will help you avoid a few pitfalls.

To find out more about Maroon, please visit: www.maroonanalytics.com

Thu, 16/2/2012, 18:30 - 20:30 1/F, British Consulate-General, 1 Supreme Court Road Speaker: Jason Chow, The Wall Street Journal Online; Gregory Brossard, Goedhuis & Co; Greg De’Eb, Crown Wine Cellars; Simon Tam, Christie’s Time to start investing in wine? Many increasingly regard wine investment as a safe haven during difficult times. Whether you are looking to start an investment portfolio or are a wine enthusiast wanting to expand your fine wine collection - come and learn more about investing in wine from our panel of experts.

Joint Business Community Luncheon with John Tsang, Financial Secretary of the HKSAR Wed, 22/2/2012, 12:30 - 14:00 Convention Hall, Hong Kong Convention and Exhibition Centre Speaker: The Hon. John Tsang, Financial Secretary, HKSAR The Financial Secretary, the Honourable John Tsang, will deliver the 2012-2013 Budget Speech at the Legislative Council on Wednesday 1 February 2012. The Hong Kong business community has invited Mr.Tsang to address a luncheon on 22 February.

Shaken Not Stirred Networking Drinks Thurs, 23/2/2012, 6.30pm - 8.30pm 8/F Aon China Building, 29 Queen’s Road Central, Hong Kong Members and non-members are invited to join us at asia medical specialists for our monthly networking drinks. A unique evening with the opportunity to learn more about sports medicine and the techniques used to monitor your health. We will be enjoying some quality wine generously sponsored by Corney & Barrow.

Joint Lunch with Michael Andrew, Chairman, KPMG International Mon, 27/2/2012, 12:30 - 14:15 Ballroom A & B, Island Shangri-La, Pacific Place, Supreme Court Road Speaker: Michael Andrew, Chairman, KPMG International At this special lunch event, Michael Andrew, Chairman of KPMG International, will discuss the significance of his move to Hong Kong and will share his thoughts on the current challenges of the global financial markets. Reflecting on lessons learnt working with clients at KPMG, he will give insights into how businesses can still succeed internationally in turbulent times.

Distinguished Speaker Lunch: John Micklethwait, Editor-in-chief, The Economist Tue, 28/2/2012 - 12:30 - 14:15 Ballroom C, Island Shangri-La, Pacific Place, Supreme Court Road Speaker: John Micklethwait, Editor-in-chief, The Economist Join us for a special lunch event with John Micklethwait, Editor-in-chief of the Economist, who will speak about ‘Global Turmoil and the Rise of China’.

For more information on upcoming events, please visit www.britcham.com/events January/February 2012 • Vol 27 • No 1

5

BUSINESS

ENTREPRENEUR 201

By Chris Riley, Managing Director, Sercura Your business is up and running. The orders are coming in. The phones are ringing off the hook and suddenly there are just too many balls in the air for one person to juggle...

THE CASH CHALLENGE Most new small companies go through an agony of growth once they move beyond the

product. For example Mr. Leung has inherited a wonderful custard pie recipe from

conception stage and into actual operation. Sometimes they fizzle away and die early

his mother and decides to set up a corner shop. Initially he bakes all the pies himself

because the business concept was not viable or properly thought through.

and his wife handles the customers. His pies are so popular the shop needs to expand. But when he hires an additional chef so he can take a day off once a week,

An example of this might be the common phenomenon of a boutique shop selling trendy

the customers complain that the quality is not the same. The new chef has a different

clothes. The owner saved up or borrowed money from her relatives, found a shop

way of baking. Mr. Leung fires the chef. But in order to expand the business he

location, paid the three months deposit, and spent a fortune on decoration. She got two

needs to have other people doing the work. He has to move from being a technician

months credit for the initial stock from a friendly supplier with some additional inventory

to becoming a manager and that is a hard step for many people not used to

of Italian designs and then invited all her friends for an opening party. However after six

delegating responsibility.

months of being the proud proprietor of her own business it becomes obvious that in order to pay the monthly rent and electricity she needs to sell ten garments a day and

McDonald's, the most successful restaurant business in the world solved this

although her location is great and lots of people browse her shop, she is only averaging

problem in the 1920 by not hiring any 'chefs' but by creating procedures, training

five garments a day. Eventually the supplier wants his money, and she can't pay the rent,

manuals and standard purchasing processes that allowed any unqualified person

loses her deposit and has to close down. To pay off her debts she goes back to her old

to cook an identical burger and fries anywhere in the world. Isn't it amazing how

job as a sales manager in a department store. We see this story happening every day on

everywhere you travel McDonald's is identical? Because they don't rely on a person's

the bustling streets of Tsim Sha Tsui as shops open with a flourish of flowers and close

experience but on the company's unique training and procedures. Consequently it

down again within twelve months.

matters less if there is staff turnover which is an ever present concern in Hong Kong and China.

Eighty percent of new businesses fail within the first two years of operation and usually because there is no guaranteed and sustainable cash-flow. The business concept might

As a one-person-operator you will never get rich but if you can train a hundred people to

often be a great idea but the execution is often flawed due to lack of experience on the part

do what you do in an identical and standard manner - effectively cloning yourself - then you

of the entrepreneur.

can sit back and focus on growing your business. The clever capitalist gets others to do the hard graft.

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THE PROBLEM SOLVING CHALLENGE Once you have employed more than five people you will inevitably get company politics and friction. Usually this comes because colleagues are unclear about their responsibilities so it is important that an organisation chart and job descriptions exist.

Sometimes certain personalities can't get on with each other. As a manager you need to find the right ‘people puzzle pieces’ that fit together smoothly and it can take a lot of trial and error.

When a company has a lot of internal issues we often use a simple process to break things down. We create a chart with three columns: ‘Current Issues - Probable Root Causes - Possible Solutions’ and project this on a screen. With the whole team in the room we start populating the chart sharing the issues and then trying to understand the reasons: Is there a communication problem, is there a procedure missing or needs updating, is there lack of training, is the computer system wrong, are people unsuited for the post they are in? There are usually solutions for most issues and getting group consensus is very motivating and beneficial to team dynamics.

THE PEOPLE CHALLENGE A common growing pain is faced when

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

6

www.b ri tc ha m. c o m

adding employees. Frequently a new

Christopher Riley is the owner of Sercura, a global quality and compliance company that

business is set up by the owner because

provides inspection and audit services to retailers and their suppliers manufacturing around

he has a special skill at making a unique

the Asian region. www.sercura.com

BUSINESS

Schizophrenia and foreboding in the UK

By David Dodwell, Executive Director, Hong Kong – APEC Trade Policy Group

Three

weeks in the chill December gloom of Russia and the UK has been more

jumped, prompting many to cut sharply back on car

than enough to confirm for me the reality that Europe’s recession is gathering force, and

journeys. Britain’s out-of-town superstores appear

augurs a horrid couple of years ahead. China’s Year of the Dragon is going to need all of the

to be haemorrhaging horribly. Electricity bills have

energy and ingenuity it can muster if Asia is not to be consumed by it.

also soared – though a comparatively mild autumn has so far kept home heating bills under control.

The messages from the UK were schizophrenic – cheered by the forced festivities of

With tax increases now kicking in, and rising anxiety

Christmas, but gritting teeth against the grim sleety weather and short, dark days. But the

over redundancies, most ordinary British families are

schizophrenia was deeper than that: London seems still to have some bounce in its step,

battening down for the recession.

but the countryside around seems full of foreboding. The country’s super-rich – so far unscathed by the recession engulfing ordinary mortals – and cashed-up tourists from Asia,

Perhaps not surprisingly, accounting bodies are warning of unprecedented corporate

are giving luxury brands a record year, while most consumer-facing companies are staring

insolvencies ahead – in particular in the “consumer facing” sectors like retailing, hotels,

at sales down 25%, with predictions of unprecedented numbers of insolvencies in 2012.

travel companies, restaurants, and even gyms. Apparently one in five businesses in food

Consumer caution driven by fears of unemployment, by rising taxes, and by huge increases

manufacturing, hospitality and tourism are on “insolvency alert”, and accountants report

in basic costs ranging from electricity and petrol to food is being countered by the UK being

increasing numbers of “zombie companies” that are unlikely to survive through the coming

seen as a “safe haven” for international investors against the extraordinary mess Europe’s

half-year.

political leaders are creating across the Channel. Schizophrenia everywhere.

Most assume things will begin to improve by 2013, but an increasing number of economists To cheer myself, I decided on Tuesday this

are warning of harsh austerities well into 2015. It is anyone’s guess what impact this will

week to plunge into the first day of the

have on the precarious political balance in the UK – in particular if the country’s wealthy

famous Harrods’ sale. No recession here

minority continues conspicuously to prosper. No wonder the UK Government’s hopes rest

– though the big picture retail numbers

so heavily on an “Olympic Stimulus” over the summer-months of 2012.

that may only become clear in a month or so’s time may show that extensive price

This gloomy story is almost certainly replicated across continental Europe. While the most

discounting by UK retailers in the querulous

recent data from the US on job-creation has given mild encouragement, the grim reality

weeks running up to Christmas might have

there is that more than a quarter of all mortgages are currently under water, and property

taken some wind out of their sails – or

foreclosures still at record levels. Consumer spending appears sharply down as families try

should I say sales?

to reduce debts to sustainable levels. And if all of this is true, then Asia’s export prospects must surely be poor – and we, like the rest of the world, are looking to China’s consumers

Nor any recession at Harvey Nichols nearby, where their fashionable Fifth Floor restaurant

to provide the stimulus that no-one else can provide.

was teeming, and champagne glasses sparkled around designer salad lunches. Harvey Nichols has reported a 35% improvement in sales through 2011 – just short of Harrods’

So far, China’s consumers have rallied to the world’s call. Global luxury brands have

39% jump. But they have cashed-up tourists – in particular from China – to thank for

seen sales rise 30% a year over the past four years, and McKinsey predict an 18%

this, rather than the beleaguered UK middle classes. Chinese shoppers at Harrods

annual increase in luxury purchases from now

apparently spend an average of HK$45,000 on every visit to Britain’s leading tourist

to 2015. But for an economy barely one-

shopping destination.

eighth the size of the US economy to provide the sort of stimulus provided by the US and

This tourist stimulus is powerfully illustrated by the bizarre success of the Bicester Village

Europe over the past decade must surely be

Market in Oxfordshire, two hours west of London. Bicester village (pronounced “Bister”) has

wishful thinking. This growth is anyway based

exploded to become the UK’s third most important tourist shopping destination (behind

on a presumption that nothing nasty happens

Harrods and Selfridges) since the Value Retail Group alighted on it as Britain’s hub for

to the Chinese economy – in particular in the

discounted luxury brands. Bicester Village now attracts 5.5 million visitors a year, two thirds

all-important property sector. Much rests on

of these from outside the UK, and 40% of them from outside Europe. It boasts the only

Beijing’s shoulders.

railway station in the UK with signs in both Mandarin and Arabic.

All that remains is to wish you all a happy So as recession begins to eat into the pay packet of the average British family,

a n d p ro s p e ro u s 2 0 1 2 – a n d p e r h a p s t o

Britain’s economy has much to thank the tourist for – in particular from China. Maybe not

advise that it may be a good idea to steer

surprisingly, Value Retail plans to open its first Chinese store in Suzhou in 2013. Away

a wide berth around Europe’s economies

from the “hot” tourist trails across the UK, the broader truth is of foreboding as the reality

for a year or two. This may or may not be

of recession begins to be felt. Food prices have risen sharply on the back of a 50%

Asia’s century, but for sure, it is set to be

increase in sugar prices and fruit price increases of up to 100% in 2011. Petrol prices have

Asia’s decade.

January/February 2012 • Vol 27 • No 1

9

BUSINESS

New Paradigms Rethinking Employee Loyalty and Turnover Rates From Bó Lè Associates

Low

employee loyalty and rising turnover rates in Asia have brought added burden

of Bó Lè Associates’ clients from MNCs and local firms advise that a minimum of 3

to HR managers in their efforts towards retaining talent and decreasing turnover to maintain

years of experience should be gained at each company with 5 to 10 years considered

business performance. Yet given the growing changes in today’s modern workforce, the

a reasonable time before risking CVs to look too jumpy. It is important to note that

conventional associations connected to the two aforementioned factors require a more in-

employers will prize tenures of a progressive nature rendering continual training and

depth and liberal approach to interpret before taking action.

advancement in each job essential, rather than consistent stalemates which come off as a lack of motivation.

The traditional form of employment defined loyalty in terms of stability, on the side of the employer, and longevity from employees. Simply providing long-term employment

Employee turnover rates are also marring Asian HR leaders as the figures continue reaching

contracts, healthcare packages and pension funds was the status quo as workers expected

new highs with no sign of slowing down. 2011 turnover rates in Hong Kong and Singapore

to remain in the same company for decades and beyond. Employees could be expected

are close to 10% with China at a shocking 20%. Among firms in China and Hong Kong,

to service — in the most literal form of the word — a company for long tenures given that

30% reported turnover rates of 11% to 40%.

the compensation justified it. The new age professional hardly sees this minimal return justifiable. In fact, according to financial management publication, CFO Innovation Asia,

The major factor for this trend has been the labor shortage with China taking the hardest

the top three most commonly cited reasons for Asian employees leaving were unmet job

hit. Despite its huge population, China’s labor surplus decreased from 120 million in 2007

role expectations (cited by 53%), management and work culture issues (37%), and career

to 25 million in 2011, and is expected to be entirely exhausted by 2015. The situation is

advancement opportunities elsewhere (36%).

particularly acute at multinationals where the turnover rate is 25% above the global average as local companies in China are increasingly becoming the preferred choice of work.

It’s clear that money is no longer enough of a sole incentive to retain talented employees

According to the Harvard Business Review, 78% of respondents stated that they were

and companies will need to adjust to this change should they desire to remain a competitive

either unsatisfied or neutral about their work in MNCs. Paired with domestic companies’

attraction amidst a pool of scarce talent. Contemporary professionals believe in a newfound

ability to match or even exceed MNC salaries, especially at the COO level positions where

philosophy to work in an environment that fosters mutual respect, family-like belonging

there is up to a 30% difference, the flow of employees in the labor market will continue to

and continual advancement. And given the shortage of executive talent in Asia, employees

maintain high rates.

realise the mobility they possess and will not hesitate to exercise it.

Yet when analysing and evaluating turnover figures to reflect and forecast performance, it Yet even should retention strategies be effectively implemented, companies need to realise

is a cardinal error to solely take aggregate turnover into account. It is essential for decision

that employee turnovers are not likely to return to previous figures, especially given the

makers and HR managers to monitor whether turnover is desirable or undesirable.

optimistic outlook of Asia’s labor market. CFO Innovation Asia’s survey reported 60% of average managerial tenures at three years or less and 26% at two years or less with no sign

Undesirable turnover should obviously be avoided at all costs as this usually represents the

of the trend changing.

departure of skilled professionals, high-performance employees or positions that are difficult to replace such as technical workers with rare or specific skill sets. In contrast, desirable

Rather than simply associating loyalty to the duration of the tenure, employers should view

turnover accounts for average to bottom performers, employees with attitudes hurting

it as the quality of the tenure. It has been evident that despite the hiring costs incurred and

the workplace and overpaid professionals. Though prizing or awarding HR managers for

the low transitional work productivity imposed when employees leave, it is essential when

initiating desirable turnover may not be the best method, it is essential that companies

hiring to understand that the prospective length of the tenure does not reflect performance.

stay closely aware of the nature of employee departures instead of misrepresenting a firm’s

A recent survey by employee engagement and leadership research and development

condition with, simply, aggregate turnover. Managers will need to conduct exit interviews to

firm, BlessingWhite, conducted to 11,000 HR leaders around the world, reported that

better understand the performance and attitudes of employees, and the prospects had they

29% of employees in China are consistently disengaged (defined as workers with low to

decided not to leave.

medium contribution and satisfaction) and only 17% are fully engaged (defined as workers with high contribution and satisfaction). Southeast Asian firms fared better, reporting 16%

Amidst fast-transforming employee sentiments and the plethora of unfiltered information,

disengagement and 26% engagement with India at 12% and 37%, respectively. Employers

business decision makers and managers need to continue meticulously and intricately

will need to implement strategies that will cultivate higher job satisfaction and contribution

studying the changes in the workforce before employing effective strategies and accurate

in order to produce optimal levels of engagement. BlessingWhite’s survey reported career

decisions that contribute to long-term performance without adverse effects. Terms such

advancement as the most common factor to increasing job satisfaction while development

as “employee loyalty” or “turnover” are not to be understood on the basis of convention

opportunities and training closely edged job clarity as the most common factor to increasing

but with keen awareness to changes that redefine them and insightful analysis that require

contribution. Decision makers need to understand the limited control they have in prolonging

disciplined evaluation.

employees’ stays, placing greater focus in optimising on the time they have in the company.

Though the readily available opportunities are undoubtedly a positive sign for jobseekers,

For more information about Bó Lè Associates, please visit their website at www.bo-le.com

this is not a cue to have a collection of short tenures in multiple companies. Many

or contact Louisa Wong, Executive Chairman, on 2525-4339 or email her at louisa@bo-le.com.

10 www.b ri tc ha m. c o m

BUSINESS

UK Finance Bill 2012 Once a QROPS not always a QROPS?

By Rachael Griffin, Head of Product Law and Commercial Development, Royal Skandia

On

6 December 2011, the UK Government published the draft Finance Bill 2012

clauses. Rachael Griffin looks at the implications for QROPS schemes, their members

Clearly, the QROPS providers in the affected jurisdictions will be looking to lobby HMRC and their local inspector of taxes to ensure they maintain their place in the QROPS community.

and advisers.

The changes are proposed to take effect from 6 April 2012 and appear not to be The draft secondary legislation proposes to make changes to the system for transfers

retrospective. The guidance notes confirm that if a transfer of UK tax-relieved funds has

of UK pensions to qualifying recognised overseas pension schemes (QROPS). Both the

taken place whilst the pension scheme was still regarded as a QROPS, no UK unauthorised

draft legislation and guidance (issued on 20 December 2011) are subject to an eight week

payment charges (or a surcharge) will arise. However, transfers made after the date on which

consultation period.

the scheme ceased to be a QROPS, so for example the 6 April 2012, then the transfer will give rise to an authorised payment charge (and surcharge) on the member and a scheme

The QROPS market has grown to almost £1.5bn over the past four years*, this is supported

sanction charge on the administrator. It is for that reason that UK registered pension providers

by a recent survey** which found that 60% of financial advisers operating in Asia expect to

are very unlikely to agree to transfer a UK pension scheme to a scheme that is not a QROPS.

write more QROPS business over the next 12 months than they have done so far, whilst a further 28% are expecting to write at least the same amount.

For members who have already transferred into schemes that are currently QROPS but post 6 April 2012 may not meet the definition, on the basis that the scheme retains its UK

Therefore, it is crucial to understand the proposals and what implications these may have.

IHT efficiency i.e. it still meets the qualifying non-UK pension scheme rules, then the loss of

The following highlights the key changes.

QROPS status may have no material impact on the member.

1. The Government proposes to firm up the tests that a QROPS scheme has to meet to reflect the original intention of the QROPS legislation.

2. Additional reporting requirements SI 2006/206 also includes a requirement that a QROPS scheme manager must undertake to meet the scheme’s obligations as a QROPS.

There are 4 tests that a scheme has to meet to be regarded as a QROPS. It must be: A pension scheme;

The proposed changes remove the need, in

•

An overseas pension scheme as defined by the legislation;

•

A recognised overseas pension scheme, and

•

A qualifying recognised overseas pension scheme.

the majority of cases, for the scheme manager (QROPS provider), when reporting information, to consider whether the individual is (or has been in the last five full tax years) a UK resident. Instead,

Statutory Instrument 206 issued in 2006 (SI 2006/206) details the conditions that a pension scheme must meet to be considered an ‘overseas pension scheme’, which is the first step towards becoming a QROPS. The

the scheme manager has to report all payments out of funds transferred from a UK scheme for a period of 10 years from the date of the transfer of those funds to the QROPS. The scheme manager is also expected to report such payments within 60 days of the payment being made.

draft clauses amend these conditions, so that pension schemes that are not recognised for tax purposes in their

This should have no impact on advisers or members but will put more onus on scheme managers in terms of reporting obligations.

country of establishment will no longer be able to meet the conditions. Nor will pension schemes where non-residents can enjoy a relief that is not available to residents of the country in which the scheme is established.

The draft clauses were unexpected and from market feedback many of the jurisdictions affected by these proposals are already lobbying their local government to ensure they remain within the QROPS market. On the assumption that the clauses remain unchanged we will see new innovation and amendments to existing schemes because what is certain is the need for an international portable pension solution is paramount in the international financial planning process.

A number of pension schemes that currently qualify as a QROPS will no longer do so. For example, as currently drafted, the legislation would mean that Guernsey schemes would no longer

* Source: Concept Group Ltd FOI request to HMRC 2011 ** The survey was conducted by Skandia International in October 2011 and attracted responses from over 450 advisers from around the world.

meet the QROPS definition.

January/February 2012 • Vol 27 • No 1

11

BUSINESS

A World Service Interview with Andrew Roy, Editor, BBC World News BBC World News’ editor, in Hong Kong to raise awareness of the BBC’s increasing focus on this region, discusses the changing shape of the news media world.

In the digital age, everyone now has a camera on them. They can capture news as it happens. How did this begin?

Now that Africa has 3 transoceanic fibre lines – one into Kenya, one into West Africa

For us, it all started with our business section. A lot of CEOs just don’t have the time to go to

the cost has come down. So now we have African consumers saying to us the same

studios, so we started doing those on Skype. It started out with CEOs just talking into their

thing that Korean and Japanese consumers are saying, which is, ‘why don’t you have

laptops, but clearly word soon got around that this was a really efficient way to put people on

more video that can stream to our mobile phones?’ Now we’re having to come up with

air in good quality. And we started to see the CEOs in interviews being better dressed and

designs for how to deliver our web pages and television, to tablets, on both wifi and

with their company logo on the wall behind them. Then it began to catch on more widely.

cellphone setups.

How has this affected the way the BBC and other news outlets gather their information?

What do you think of news organisations now actively encouraging viewers to offer their own perspective, and even offer their reports on news stories?

We’ve had some amazing successes with Skype, taking us to places that, through traditional media, you just wouldn’t have been able to get to in the past. For instance, we had a kid who was on an exchange visit to Japan during the earthquake and tsunami, and in the middle of a live shot he says, “There’s another earthquake, let me show you what’s

and one into South Africa – mobile phone speeds have increased enormously and

We don’t have citizen journalists. We use them as eye-witnesses, we use their content, and sometimes we put them on air when they’ve been a participant or an eye-witness in an event.

going on,” and then he picks up his laptop and turns it to view out of the window. For me as a broadcaster, to match that shot, I would need to send four staff, a satellite dish, and pay for an incredibly expensive satellite hookup back to London. But the internet technology now is letting us do that kind of stuff. We’re even giving air time to people on their iPhones.

Its not great quality but it gives you the sense of being there and the speed of delivery. Then we can get the traditional equipment straight behind them.

With the Arab spring for example, and all of the various uprisings across the Middle East, we were interviewing a lot of protesters, a lot of bloggers, we were verifying and then broadcasting video that internet users had uploaded onto social media. But we weren’t asking them to go out and report for us. That’s a step that we’re not yet prepared to take. We do make some programmes where we will look at how the internet and social media, and how citizen journalism has changed an event. Mishal Husain, for example,

The other important change is the access to places that were so difficult to reach before. Kabul has 4G. You can’t run cables on poles there because people steal copper

has gone to all of the ‘Arab Spring’ countries and interviewed the people who began the uprisings there about how they used social media and how they interacted with traditional media like us.

wires, and you can’t bury the lines because of bombs.

So they have mobile phone masts. We can connect a mobile phone to a laptop, go through a V point, which is a product like Skype, and connect a decent digital camera to the laptop, and we can be live in Kabul in quality almost as good as we can manage it on wired positions in Central London. To give another example, Kinshasa in the Democratic Republic of Congo, has 3G. So all this has completely transformed our ability to gather news.

What are the drawbacks of this new digital technology? For example, has verifying the truth of what people are capturing been a problem.

We’ve got lots of protocols that we go through before we put something on air. But having said that, we have had cases where people have maliciously sent us video. In one case I remember a Turkish airliner crashed in Amsterdam. All the media were sent images of a Turkish Airlines plane in a flat field in winter. It was the right sort of plane, it was in winter, and pretty much intact – which is exactly what we’d heard. Some of our rivals

And how has it affected how audiences read your news?

went on air with it, and we were very close to doing the same. Fortunately someone in our

Audiences now want the news when they want it, and they want it 24/7, wherever they are,

office is an expert on aeroplane news, and recognised the images from a similar incident

and that might be on social media sites. We launched a Facebook stream about two years

a long time ago. Someone had acted maliciously to get those images on air.

ago and it’s already got a million and a half followers. We know that they read the news alerts we send them, and if they click on them they go to our website. They spend four

The other big con is that it’s so diffuse. Where is the next place that the audience will want

times as much time on our website as a regular user.

me to be? A few years ago it was text on mobile phones, then it was the web on mobiles, now it’s videos on mobile phones. What’s next? Will it be radio on mobile phones? Who’s

Audiences also want us to be with them in terms of new technologies. We have a big

inventing something that will make the tablet obsolete? The speed of change is a real

audience in Africa for example. But Africa has leapt technologies. Most people there never

headache for broadcasters. Like most broadcasters, the BBC is trying to be on top of

had desktops, very few even had laptops; they went straight to smart-phones. About a year

everything, and for the time being we’re managing. But I expect we will all be caught out

ago everyone in Africa was telling us that we needed to improve our mobile phone website.

at some point.

12 www.b ri tc ha m. c o m

In terms of breaking news, the BBC has four main strategies â&#x20AC;&#x201C; TV, online, mobile and tablets. Do you see a signiďŹ cant shift from TV to these newer forms of consuming news?

We will almost certainly stick with traditional media, but also offer good quality products on these other new media. Thereâ&#x20AC;&#x2122;s a social aspect to this. People will cluster around a TV to watch something, whereas theyâ&#x20AC;&#x2122;re less likely to do that around a tablet or a mobile phone.

Down the line, in ten yearsâ&#x20AC;&#x2122; time for example, will we still be on cable or will everything be done via the internet? Personally I suspect it probably will all be via the internet, but thatâ&#x20AC;&#x2122;s just my guess. I wouldnâ&#x20AC;&#x2122;t bet our organisation on it!

A lot of recent signiďŹ cant events have been born out of social media. Do news outlets now look to social media to anticipate breaking news?

We will start to see if something is trending on a given day, and it will give you an idea of how big something might be. But it tends to be something that you know is coming anyway.

It is a very useful tool in anticipating how big a story will become. It is also quite useful in

Who is your audience?

anticipating public reaction to something. You ďŹ nd that more and more now, wherever they

Weâ&#x20AC;&#x2122;ve analysed our main audience, and they fall into two distinct groups. One is the 45

are in the world our correspondents will not be telling you just what commentators and

years and older category â&#x20AC;&#x201C; the top 25% income earners in whichever country theyâ&#x20AC;&#x2122;re

traditional media have said. They will also be telling you what people are saying on social

living. They are opinion formers, politicians, businessmen, tend to be multi-lingual, well-

media and what bloggers are saying. So as a source of information, itâ&#x20AC;&#x2122;s really becoming

travelled, and pretty successful. That group makes up exactly half our audience. The other

more important, and will only become even more so as more and more people express their

half is aged 25-40. They are very aspirational, already well travelled, multilingual, they tend

opinions on social media.

to be university-educated, and they want to become the ďŹ rst group. It can be somewhat embarrassing because we now see people who have done internships with us not so

Weâ&#x20AC;&#x2122;re now getting to the situation where politicians will tweet or facebook about something

long ago becoming senior politicians around the world. That young globalised group is

before they make a press statement on it. The White House does it, the Queen does it.

continuing to watch us, and meanwhile their own globalised view of the world is starting to

William and Kate were tweeting at the same time as press statements, but the tweet gets

spread more widely. For a channel like us, itâ&#x20AC;&#x2122;s a great time because thereâ&#x20AC;&#x2122;s a young group

picked up quicker because tweets can be disseminated much more quickly.

of people out there who are moving with us, and following our product. Itâ&#x20AC;&#x2122;s a fun time to be working in international news.

I donâ&#x20AC;&#x2122;t think itâ&#x20AC;&#x2122;s changed the process but I think it has speeded up the process enormously because now, material can go onto the internet just that much quicker. Traditional media now has a faster reaction time to this kind of material than it ever did in the past.

Whatâ&#x20AC;&#x2122;s your focus in Asia?

Weâ&#x20AC;&#x2122;re going to be investing in this region much more than in the past. Thereâ&#x20AC;&#x2122;s so much happening in this region. Asia is seen as the driver of trends in technology, consumerism, social trends too. Weâ&#x20AC;&#x2122;re doing a series at the moment about the â&#x20AC;&#x2DC;lost generationâ&#x20AC;&#x2122; â&#x20AC;&#x201C; about youth unemployment, which is endemic both in the West and here in East Asia. People are often quite surprised to see how these kinds of threads tie together.

Frankly, I think that in the past we havenâ&#x20AC;&#x2122;t been as invested in this region as we should have been. Weâ&#x20AC;&#x2122;re going to be broadcasting more content out of this region, not just the ordinary

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geopolitical material, but enlightening and informing details that tell the bigger story. Weâ&#x20AC;&#x2122;re

Executive search www.boyden.com

trying to join up stories in different parts of the world and show our audiences how they ďŹ t into the larger picture.

Management consulting www.bmca.com.hk

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January/February 2012 â&#x20AC;˘ Vol 27 â&#x20AC;˘ No 1

13

MEMBERSHIP

Member Get Member Campaign The Chamber would like to thank all members who participated in our 2011 ‘Member Get Member Campaign’, and we are pleased to announce the winners of our top two prizes:

Craig Armstrong, Standard Chartered Bank (Hong Kong) Limited: Referred the most new members to the Chamber and will

Mark Galloway, HSBC: Winner of the prize draw for a weekend escape for 2 to Sanya provided by Flight Centre

receive a complimentary Sunday brunch for 6 at Cafe Deco

The Chamber would also like to thank Main St. Deli, Langham Hotel and KITCHEN, W Hotel for sponsoring the dining vouchers.

For details of the 2012 ‘Member get Member Campaign’, look out for the advert in the April edition of this magazine, or visit our dedicated page on our website www.britcham.com/member-get-member-campaign

Shaken Not Stirred...and Replenished!

Continuing a highly successful partnership, The British Chamber of Commerce is pleased to announce that AGS Four Winds will be sponsoring our monthly Shaken Not Stirred networking drinks events for the tenth consecutive year in 2012!

Shaken Not Stirred is a perfect opportunity for members and guests to make valuable connections with other business people in a wide range of sectors in an informal and relaxed atmosphere. Held on the last Thursday of every month in the finest bars, hotels and premium venues across Hong Kong – from The China Tee Club to The Space Gallery, Berry’s Fine Wine Reserve to Elemis Day Spa – this monthly social event regularly attracts up to 100 guests.

Come along to enjoy after-work drinks with canapés, win a lucky draw prize and meet a great mix of people. Bringing together new and existing members; this is a great chance to meet chamber staff and committee members, and learn more about chamber services and activities. Bring friends, colleagues and business partners to raise your company profile and develop new business relationships.

An event which regularly sells out – hurry and book quickly to be sure you secure a place! Start the Year of the Dragon on the right path and join us for our networking drinks on Thursday 23rd February. Please visit www.britcham.com for more information.

Our Sponsors: AGS Four Winds AGS Four Winds in Hong Kong is proud to continue its sponsorship of Shaken not Stirred events organised by the British Chamber of Commerce.

AGS Four Winds are specialists in providing world class relocation services to corporate employees and private individuals to and from any city in the world. The AGS Group has over 125 offices throughout Europe, Africa, Asia and the Middle East, and have also developed an extensive network of professional agents globally. With 37 years’ experience, we have built our reputation through our commitment to providing consistent high quality in our complete range of world-class turnkey solutions. At AGS Four Winds, we use our expertise to make each and every move a positive experience, for your complete peace of mind.

Please contact us for any moving requirement on 2885 9666 or visit our website: www.agsfourwinds.com

14 www.b ri tc ha m. c o m

ENVIRONMENT

Message in a Bottle

by Elise van Stolk, Santa Fe Relocations

On

a cool, damp January mor ning,

landfills. BritCham members boarded a coach to visit the TIOSTONE waste recycling centre

twenty British Chamber members gathered at

and paving block factory in a remote area of Tuen Mun. Greeted by inquisitive guard dogs,

a refuse collection point listening to a petite,

swirls of dust, a variety of dumper trucks and other commercial vehicles, the sound of crushers

enthusiastic woman whose passion for saving

and mixers and a pile of clear glass fragments resembling shards of ice, the group was guided

the environment is nothing short of colossal.

around the facility by Dixon Chan, Director of TIOSTONE. Dixon described the manufacturing

April Lai is the coordinator of the Green

process that produces what he helped to develop with a

Glass project - a glass recycling collection

team at Hong Kong Polytechnic University – the “Eco-paver”.

and redistribution organisation. Originally

These paving blocks are not only cheaper and stronger, they

conceived by the 300 member-strong Hong Kong Dumper Truck Drivers Association

resemble traditionally mined materials such as stone and

in 2010 and funded by the government’s Environment and Conservation Fund, the

clay at less cost and with less damage to the environment.

association's members deliver glass and construction waste to a New Territories factory where the materials are combined to form an innovative, eco-friendly construction product

The moulded Eco-

manufactured by Tiostone, Ltd., the second stop of the Chamber's tour.

paver effectively uses construction and recycled waste glass as major

The refuse collection point on Luard and Johnston

components. It has undergone three generations

Road in Wanchai is perfectly situated to capture

of development and the latest version is also

the large amount of waste glass on Hong Kong

successfully using a small quantity of a photo-

Island. With dozens of bars and restaurants, an

catalyst, allowing the paver to decompose low concentrations of air pollutants such as

evening’s catch would make a hefty deposit at the

nitrogen oxide. They require no kiln firing and are simply air dried overnight on pallets,

collection point the following morning. For example,

ready for use the next day. The carbon footprint is minimal and Eco-paver meets the code

one Saturday morning's collection from Friday

requirements of their clay counterpart. TIOSTONE has recycled approximately 4,000 tons of

night's revellers in Wanchai and Soho yielded 2.8

glass waste and more than 100,000 tons of construction and demolition waste in 2011.

tons of glass. Eight Wanchai bars are currently active in the Green Glass programme with an additional thirty

At present, Hong Kong and its construction industry is purchasing

Soho participants. A participating establishment aids in sorting

clay paving blocks from overseas and though the Eco-paver

and cleaning bottles before being collected by Green Glass, but

costs less, developers seem reluctant to fully switch to a locally

April hopes for an increasing number of establishments to step

produced materials. The lack of knowledge about the availability

up and do their part. She is quick to point out that more than

and performance of this recycled material is still hindering its

twenty Hong Kong hotels, plus Disneyland and Coca Cola are

wider use. If demand for the product increases, an abundant

already contributing a steady supply of their waste glass.

supply of waste glass could easily be made available through mandatory recycling programs.

As April stands amongst the collection bins, some local residents contribute their small bags of empty bottles while

The day ended with an on-site, side-by-

street collectors and vans pull up to deposit even more. In most

side comparison of clay and Eco-pavers laid

cases bottles are mixed in with household waste, making the

around the area of City Hall. Aside from the

task of sorting out the glass a messy and smelly one. Though

appearance of the imported, traditional red

occasional volunteers make their best attempt to help, many

clay bricks, the Eco-paver is aesthetically

do not return which leaves April and the one other part-time

indistinguishable from its competitor.

employee to sort through tons of glass. It’s an overwhelming job.

There is a message ‘as clear as glass’ in what Green Glass is doing: Hong Kong generates about 150,000 tons of waste and

Individuals and businesses need to make an effort to improve Hong

over 10 million tons of glass and construction and demolition

Kong’s air quality, landfill reduction and local economy by simply thinking

waste every year. Glass recycling is not mandatory, largely

twice before putting bottles into household rubbish. A large impact

because there is not enough demand for an end use. Limited

can be made with a small step towards creating awareness and active

quantities make it too costly to export and since Hong Kong

participation in recycling.

does not have its own glass manufacturing industry there is little need to enforce deposit-and-return schemes.

For more information about the Green Glass project please visit www.greenglass.org.hk.

There is, however, an innovative use for the glass and

For more information about TIOSTONE please visit www.tiostone.com or contact Dixon Chan

construction waste destined for our already overburdened

on (852) 9126 6232.

January/February 2012 • Vol 27 • No 1

15

CHARITY

Out of the Cold Interview with Christina Noble

Christina Noble is the founder of one of the world’s most dedicated children’s foundations. Since the 1980s, she and her team have been rescuing street kids, and children in dire poverty, first in Vietnam and more recently in Mongolia too. The Christina Noble Children’s Foundation gives children emergency and long-term medical care, nutritional rehabilitation, educational and vocational training, job placement, and most importantly, a warm and loving environment in which to grow.

Having overcome her own difficult childhood and a lifetime of obstacles, Christina Noble is widely recognised as one of the most remarkably tireless and effective children’s workers, providing homes and care for hundreds of thousands of children in two of Asia’s fastest developing nations.

How did you first get involved in helping children?

My early life in Ireland wasn’t easy. Mother died when I was a small child and my father had problems with alcohol, so I grew up looking after my younger brothers and sisters.

I played mummy for a while – they even called me that. I was born to do my best; that’s just my nature. To cut a long story short, we were eventually separated and put into institutions. It was a deeply traumatic experience for all of us, and we only rediscovered each other many years later. I personally witnessed terrible cruelty towards children at that time, and I’m sure that’s part of why I feel such a strong urge to help children in need.

What have been the main obstacles to your work? How do you build up trust with children you’ve never met before?

On the way to Vietnam for the first time, I was terrified. Everything was new, and in my childhood I had been indoctrinated to be scared of communists. But once I got to Ho Chi Minh City I felt fine. I met two small children who were sleeping rough. One was badly bruised, and at that moment they were both eating ants from the ground. I must have

Did you imagine yourself doing this when you were younger?

What made you to make the move to Vietnam?

I was living in England for many years, working hard and raising my own family, so this wasn’t something I had always thought of doing. In 1971 I was living my normal life,

seemed very strange to them, but I thought of myself as a simple girl and a mum as well.

I told them my name; they called me Mama Tina. And they still do in fact.

running a fish-and-chip shop in England, when one night I had a dream in which I saw Vietnam. I saw the war in Vietnam and some very powerful images of children in danger.

The following day was a Saturday and I told one of my regular customers about the dream. I asked her where Vietnam was and she told me it was in China…I had a lot to learn. In 1989, when my children were in university, I went to Vietnam on my own for the first time. I told the Vietnamese embassy that I was interested in importing furniture, and that was enough to get me a visa.

I just knew that I didn’t want to be somebody who gives false promises. I had experienced that myself when I was a child, and I hate it – it’s one of the worst things that kids can experience. I shook the children’s hands and thought of it as making a contract. My word is my bond – that’s very important. I helped

Music classes at the Ger Village in Mongolia

them and found parents for them.

So that’s how it all started. Without any real education or experience, I could only think of what I would do in this situation if they were my children. I had to do it in a way that would benefit as many as possible rather than a few, but I also knew what my limits were.

I didn’t have the money, so I set off to get funding from the several major oil companies.

Children at the CSADC (Social and Medical Centre) Vietnam

They all advised me that what I was trying was impossible to do, and that the government wouldn’t let me do it anyway. But as soon as they got involved they were the most helpful people, and remain so to this day.

How does being a foreigner/outsider help in setting up or running a charity? Did it make for any particular difficulties?

If you learn about Vietnam’s history you can understand a certain level of distrust for outsiders. I was lucky in one sense, in that I didn’t know much about all the history. The government officials asked me many questions, for example when I was applying to build a home for children on some derelict land, but I think in the end they understood that I was only doing all this because I loved the kids. Since then we’ve worked together brilliantly.

16 www.b ri tc ha m. c o m

Christina Noble Children’s Foundation: Upcoming Events in Hong Kong March 2012 sees two major events which will allow Hong Kong citizens, residents and visitors to learn more about the CNCF firsthand.

- March 21, 22nd The GFI HKFC Tens, the world’s leading 10-a-side rugby tournament, has announced CNCF HK as the official charity for this year’s event held annually at the Hong Kong Football Club. 2 former England rugby players, Steve Thompson and Leon Lloyd, will be coming to lend support as international ambassadors of CNCF and help fundraise at the event. They will be visiting the centre in Vietnam directly afterward.

- March 23rd The legendry CNCF Ladies Long Lunch. This annual sell-out event will be hosted at the HKJC to raise money and awareness for the children. Sponsored by Children at the Sunshine School in Vietnam

AsiaXPAT and backed by BritCham’s Women in Business Committee, last year’s event prompted the South China Morning Post (SCMP) to declare, “another Hong

And how did you get funding at that stage?

Kong legend has been born”!

I hadn’t got any money to build the new home for children then, but I went back to the UK and started phoning people up and asking for funds. A journalist wrote a story about me and then I was interviewed on TV, and then the money really started to come in. We still

To learn more or get involved you can visit www.cncf.org.hk or contact CNCF’s Hong

don’t get financial assistance from any governments.

Kong office at: 14th Floor, Kai Kwong Commercial Bldg, 332-334 Lockhart Road Wan Chai

Nowadays we do all kinds of things to raise money. We have fundraising offices in Dubai,

Tel:

Hong Kong, France, Australia, the UK and Ireland, where dedicated volunteers find

Email: hongkong@cncf.org

852 2832 2186

wonderful ways to get more and more people involved with the foundation. In Hong Kong we have a very popular event in March called the CNCF Ladies Long Lunch which raises over HK$800,000 for the Foundation and sells out each year. I have even sung songs with the Irish national rugby team which made the Top 50 in Ireland’s Singles chart.

Roughly how many children end up homeless in a major city like HCMC every day?

Although Vietnam now has fewer and fewer kids living on the street, there are still many living in great poverty. Many of the street kids have come in from the countryside to the cities. I don’t know the current figures, but I can tell you that we’ve helped nearly 500,000 kids in our work there. There are just so many of them, and it’s amazing to see them grow up and get schooling and graduate. Once they’re past that stage then the cycle of poverty is broken. And they love all the members of our team so much – i t ’s a w o n d e r f u l a t m o s p h e r e . I t ’s about truth and honesty and finding common ground between humans.

It’s important to have respect for someone Give A Ger programme in Mongolia

else’s culture and to learn about it.

You’re now heavily involved in work with children in Mongolia.

How did you come to start all over again?

Mongolia is developing very fast, and with the good comes the bad. A lot of Mongolians are coming out of the desert into the cities because of the harsh winters and poverty. Our experience was the other way round I suppose - we have built a ger village (traditional tent settlement) for the children. There are still many children living alone or in small groups under the city roads where it’s a little warmer. Mongolia has some of the worst poverty I’ ve ever seen. It’s a different place, with different attitudes, but we’re giving hope to children who are in desperate circumstances. We now have about 1,200 sponsors for our children in Mongolia.

Christina with one of the children in Mongolia 2011

January/February 2012 • Vol 27 • No 1

17

COMMUNITY

Faith schools Why do they do so well?

Rachel Fletcher, Admissions Director, Ampleforth College

There

is huge controversy in Britain about state funded Faith schools and with

person’s happiness above your own, or loving your neighbour as yourself. In Faith

the advent of free schools the number of Faith schools is likely to increase. Faith schools

schools the pursuit of virtue is an unapologetic aim. David Blunkett said that he wished

are hugely popular with parents because in many cases they out perform their secular

he could “bottle the ethos” of Faith schools; the ethos comes not in a bottle but in

neighbours. For example, 33% of maintained schools in England are Faith schools; 60% of

sacred texts.

the highest performing primary schools are Faith schools. Critics claim that this is because these schools use religious observance to discriminate against less advantaged children.

Unhappy children do not work effectively. What children need to thrive are clear boundaries,

I think that the reasons why Faith schools do well both in the maintained and the private

consistent messages and love. Religious faith sets these boundaries, is clear in its message

sectors of education are more complex and worth exploring.

and reiterates again and again the need for love. Educational theories come and go, new techniques and technical aids are constantly being promoted and explored and some of

The Headmaster of a Catholic Benedictine school in the North of England tells

them are very good but in Faith schools they are underpinned by a philosophy based on

prospective parents that he wants the young men and women in his care to be “Holy,

belief that does not change and in Christian schools we remember Christ’s command to

Happy and Hardworking.” Socrates identified virtue as being a route to happiness and

suffer the little children to come unto him.

it is certainly true from my observation that holy people are often joyful. The pursuit of happiness through the acquisition of material goods is doomed to failure – however

I work in a monastic school and while our students go through their busy lives pursuing

much you own there will still be more to hanker after. Equally the pursuit of happiness

academic, cultural and sporting excellence they hear the abbey bells calling the monks to

through a narrow search for self fulfilment is pointless. This approach leads to a limiting

prayer and are reminded of the perspective of eternity. I think that it is this perspective that

sense of entitlement and discontent. The greatest human happiness comes from a

gives Faith schools the courage to stand by fundamental truths in a turbulent, secular world

self-giving love. Love as defined by Henry Fielding in “Tom Jones” as desiring another

where too many children are set limited and selfish goals.

Celebrating

25

Years

In 2012, in time for the British Chamber’s 25th anniversary, Britain in Hong Kong will have a new design. With a fresh look, a modern A4 format and new content, the magazine will continue broadcasting from the heart of the British Chamber of Commerce in Hong Kong.

We value your input, and greatly welcome articles from Chamber members on any issue related to business, property, community, environment and lifestyle. If you would like to find out more about the new design, or have any comments and suggestions, please contact our editor: sam.powney@speedflex.com.hk If you would like to learn more about the new opportunities for advertising in Britain in Hong Kong, please contact: charles@speedflex.com.hk

18 www.b ri tc ha m. c o m

CHARITY

Britcham Charity Roundup The British Chamber of Commerce in Hong Kong is delighted to announce the substantial sums raised for several particularly worthy charitable causes in 2011. The Chamber raised these funds through several major events. will provide suicide prevention training to students, teachers and school social workers, and

Britcham KPMG Rugby Dinner (March) raised HK$394,872 – shared between Changing Young Lives and Laureus Sport for Good Foundation

help them to set up their youth suicide prevention strategies for their schools.

Students will also explore their emotions and their take on the meaning of life through creative imagery. Adapted from the very successful PostSecret project in the United States which has

Britcham Annual Ball (June) raised HK$525,392 – for KELY Support Group

touched the lives of over millions of Americans, students will be encouraged to reveal a secret by creating anonymous postcards. The secrets can express many emotions such as pain, hope, optimism and humour. Secrets will be compiled together and published into a book. By allowing

Breakthrough Boxing (October) raised HK$268,391 – for Operation Breakthrough

youth to see their fellow peers’ secrets, this project aims to decrease feelings of loneliness and increase awareness of the suicide prevention services available, as well as increase the resilience of youth and promote a mindset that things will always work out in the end.

Y-network Scottish Ceilidh (October) raised HK$19,160 – for Mindset

For more info contact Chung Tang, Executive Director, KELY Support Group: chungtang@kely.org

Grand Total: HK$1,207,815 We also raised HK$12,915 for the Prince of Wales and Catherine Middleton Charitable fund at the Royal Wedding Celebration back in April - which goes to their designated charities.

Changing Young Lives - Drama Training for Underprivileged Children 2012-2013 Starting this spring, this project enables underprivileged children to attend drama training workshops at the Chamber Young Lives centre, located in the Pak Tin Estate in Shek Kip Mei. The learning centre is a home away from home for children living in the estate, where development, education and participation programmes are offered free of charge. Dramas, operas and musicals are entertainment usually out of reach of many underprivileged families in Hong Kong, and children in this area rarely get to attend classes in theatre or drama. Drama classes and taking part in stage performances can bring many benefits to the children taking part, including increased confidence and satisfaction, an increased understanding of themselves and ability to express their emotions, and opportunities for teamwork and exploring their potential.

For more info contact Marcia Aw, Executive Director, Changing Young Lives: m.aw@changingyounglives.org.hk

KELY Support Group - There’s Always Tomorrow - youth suicide prevention project There’s Always Tomorrow aimed at instilling within vulnerable youths a sense of hope even in the most adverse and challenging of circumstances by addressing the issue of youth suicide through engaging the local community and building their capacity. Moreover, the programme can engender practical skills among teachers, social workers and vulnerable youth so they can identify risk factors on their environment providing support for each other and making informed choices. Through increasing awareness of the suicide prevention services, lives can be saved.

The project aims to build up the capacity of the Wong Tai Sin community by focusing on 3 areas: public education and awareness, prevention, as well as intervention and support. We

January/February 2012 • Vol 27 • No 1

19

LIFESTYLE

Fresh Start

DETOX

By Matet Lester, Manager at Flight Centre Hong Kong

“New

Year, New You” seems to be the mantra at this time of year. After a

month of overindulging, for most of us a detox is definitely on the cards. What better way to combat the festive weight gain and also the post-holiday blues by taking a ‘lifestyle’ holiday, where health and wellness are the focus.

While most of us live a fast-paced life in Hong Kong, working long hours and maintaining a hectic social schedule, when we go on holiday we want to come back refreshed and refocused. How many times have you come back from a holiday, feeling like you needed a holiday?

In the travel industry we are seeing a growing trend towards health and wellness holidays. Specialised boutique resorts offering nutritionists, personal trainers and yoga gurus are becoming favoured over crowded beaches or cocktails by the pool

journey se seeking a ary, Koh Samui Absolute Sanctu n-inspired boutique resort is a haven to thoprograms are tailored

, Morocca Their detox This stunning althy lifestyle. s from ation and a he en ge of program uv rej , ce offering a ran back to balan is a l, healthwise, au ch Ea erh ov x. e to let De tarian ng a comp and The Vege x to for those wanti s, De s ion od ss py se ing Fo lon hydrothera Detox, The Liv assing daily co The Ultimate lp mp he co to en s n ise tio op exerc e and holistic ages and yoga comprehensiv ial Detox mass ec sp ts, en tritional supplem high grade nu begin anew. and out, and ide ins an you cle

in large chain hotels & resorts.

One of the great things about these lifestyle holidays is that they have a wide range of flexible programs that can be tailor-made to meet your specific needs. Whether your goal is to detox, rejuvenate or lose weight, these resorts have professional specialists onsite to support you in achieving your goals. Most importantly, you return from your holiday feeling recharged, taking away with you a new education on how to maintain this healthy lifestyle.

PREVENTION & HEALING

With convenient direct short-haul flights to all these properties, your detox has never been so easy!

The Farm, San Benito

their mind, body g and wellness where people balance This property is a centre for holistic healin g journey, to healin a e provid They . place in an eco-friendly and spirit with nourishing live foods their guests in ting educa to itted Comm state. al and spiritu help recharge your mental, physical, ed perception of le, they aim for you to leave with a renew the ways of proper nutrition and lifesty body. your habits to take better care of your health and to have formed new

WEIGHT MANAGEMENT Chiva-Som, Hua Hin

uty and serenity, a secluded world of bea “Haven of Life” offers hou rs sou th of Chiva-Som meaning the few a garden s in Hua Hin , acre s of lush trop ical s and exercise nes tled with in sev en tnes fi a with starting out experienced or you are are you ther Whe k.

Bangko you to achieve all motivate and educate Retreat will help inspire, program, their Fitness qualified, extensively port of internationally With the nurturing sup of your desired goals. ory and lifestyle to hist your goals, health will take into account experienced trainers they s programme for you. develop an all-round fitnes

20 www.b ri tc ha m. c o m

ct trip at a great out of our way to find you the perfe At Flight Centre we will always go y you need holida ss experts today and take off on that price. Talk to our health and wellne to give your new year a boost!

To make a booking or for more information please contact Matet Lester on 2830 2837 or email matet.lester@flightcentre.com.hk

LIFESTYLE

Jaguar Land Rover Review

By Rory Gammell, Graduate Trainee, Jones Lang LaSalle Hong Kong

The 8th of December 2011 marked the launch of Jaguar and Land Rover’s partnership with Hong Kong automotive distributor Inchcape. I decided to pop along to the Exhibition Centre in Wanchai to see what the fuss was all about, and was pleasantly surprised. Inchcape laid on quite a show with choreographed breakdancing all around the hall to introduce the latest Jags and Land Rovers on the

into a previously white (now very muddy) ‘skid pan ready’

market. Hot metal included the glitzy new Range Rover

XF with a tunnel of cones ahead of me and a mad Jag test

Evoque, the rapid Jaguar XKR-S and latest evolution of the

driver at the helm. He calmly showed me that I must floor

Jaguar XF.

the throttle, gaining as much speed as possible before reaching the end of the cones, at which point I must

Stumbling into the BritCham girls at the launch proved to be

violently veer right in order to unsettle the car. Excellent.

very fortuitous. It turned out that the Chamber had been asked

Off he went at full pelt, threw a hard right turn to put the

to attend a weekend of test driving the aforementioned

car in a slide to carve round a chicane. Easy. My turn.

Evoque and XF in Shenzhen, but none of the girls could

Trying as hard as possible not to screw up with all the

attend without driving licenses... Now, as a born and raised

media watching and me being the first in the spotlight,

petrolhead deprived of so much as a morsel of driving for the

I gunned it, but rather than putting the car in a vicious

past 14 months in Hong Kong, I was positively tingling at the

slide, took the racing line and neatly passed it through

great fun – real ‘Fast and The Furious’ tyre-shredding

utterance of such an opportunity. So, having nobly decided

without any drama at all. This is a skid test. Rory, come

stuff. Shame it was a standard 3.0 V6 petrol XF though –

to ‘take one for the team’. I made a few pleading calls to

on! Luckily next time I manned up, giving it the full beans

I couldn't help wishing (in a spoilt child sort of way) that

my bosses, and there I was the next morning standing in

on the throttle before violently launching it into a slide in a

we could have a go in the M5-baiting XFR monster. Any

Shenzhen with a fleet of brand new jet black Jaguar XJ limos

big puddle. So that’s the car with Jag’s Dynamic Stability

chance of a spin in that or, better still, the XKR-S next,

in front of me. It was rather novel to be part of the ‘media’,

Controlgadget turned off. Next time with it turned on, I

Jaguar? Please?...!

being escorted to the JW Marriott like royalty with a gaggle

could feel the advanced driver’s aids kicking in to save me

of other journalists that might make or break the success of

from losing control in the slide. Clever stuff.

these new models in Hong Kong.

Sadly I had to speed back to Hong Kong for a dinner, meaning missing the next day of off-roading in the new

The other test was a skid pan, the objective being to

Range Rover Evoque. But all in all, it was a great day

The hotel had been jazzed up with Jaguar Land Rover

floor it again, vere left and try to hold the car in a nice

out and very well organised. Many thanks to Jaguar for

branding all over the place (did you know that Jaguar have

neat powerslide round some cones. Brilliant. This was

putting on a most enjoyable day, and to BritCham for a

their own bottles of water?) and with the new Evoque as

fantastic early Christmas present.

the showpiece at the entrance (pictured). After a tasty buffet, we were ushered upstairs for a safety briefing prior to being let loose in our Jags. Hmm. Sadly without a Chinese driving license, I wasn’t permitted to get behind the wheel on Shenzhen's roads, but I hopped into an XF with an editor and photographer from Prestige magazine.

We followed a convoy of other XFs through some great twisty hill roads just on the Chinese side of the Border, overlooking some swooping rural stretches of Hong Kong on the other side, including Fanling. Our experienced motoring journalist at the helm seemed impressed with the new model. It remained composed round tight corners with very little body roll, and with a comfy ride even in sport mode. I’m aware that I’m not writing for a car mag here, so I’ll keep the anorak chat to a minimum, but the new XF definitely looks more sporty and aggressive than the old model - much closer to the stunning concept C-XF on which it was based.

Eventually we made it to the stadium, where a Jaguar testing facility had been set up. No Chinese license needed on private grounds, goodie…. So I quickly strapped myself January/February 2012 • Vol 27 • No 1

21

PERSPECTIVE The British Chamber’s Sterling Members

Perspective Interview with Christopher Pratt, Chairman, Swire Pacific How’s business?

Most of our businesses did

What do you find the most challenging aspect of your work?

well last year, I would say very

People! It’s always challenging getting the right people in the

well in the circumstances. But with oil at $100 per barrel, Cathay

right places.

Pacific is as challenged as all the other airlines at the moment.

We’re still doing well against our peers, but with that sort of

As for our operations, the most unpredictable is always

major cost and a very flat cargo market this is a difficult time for

Cathay Pacific – it has many moving parts, it has deals in

the industry. On the other hand passenger demand is still very

many currencies, it buys oil, it moves passengers all around

good, so I’m quite happy with the way things stand.

the world, and it’s very sensitive to global sentiment. One defining feature of the industry is that it involves such high

What are your plans for Swire Pacific in the coming year?

fixed costs, which means that a swing in sentiment can

More of the same really. There have been some structural

And because we believe Cathay Pacific is the best airline in

changes in the last two or three years, with Air China buying

the world, we need to keep up major investment in people

3 0 % o w n e r s h i p o f C a t h a y P a c i f i c , w i t h o u r i n c re a s e d

and product.

put the company into loss or significant profit very quickly.

o w n e r s h i p o f H a e c o ( H o n g K o n g A i rc r a f t E n g i n e e r i n g Company) – now up to 75%, with the separation of Swire P ro p e r t i e s o ff i n t o a s e p a r a t e l i s t i n g w h i c h h a p p e n e d

How does the British Chamber of Commerce add value to your business?

just two weeks ago. I’m not anticipating any more major

It’s a good forum for discussion on issues that affect all of us

changes like that, so we’ll really be concentrating on growing

in Hong Kong. It’s good to meet other people and seniors in

our businesses. We’ve got quite aggressive investment

business on those issues and how we can best present them

programmes for all of our core businesses, and at the moment

to government, etc. That’s something the British Chamber is

we’re focusing on execution.

very good at. It’s very well run, has a very good board, it’s very valuable. It’s a lobby group on one hand, a networking group on

The Swire Group has a very long history of Swire family involvement in the company. Does the family still play a major role in the running of the company?

the other. I think it does its job very well.

Very much so. The family are the controlling shareholder. They’re

Coming up on 34 years. I joined the firm when I left university

very engaged with the main company and have significant input

(I know, I know – man and boy and all that!). I’ve been based

into its management. So, it’s an extremely close and positive

here most of the time, but also did two stints in Australia and

relationship between the family and the public group. Having

spent five years in Papua New Guinea. That’s not uncommon

a major family shareholder is quite common in Hong Kong of

in our company; most of our executives move around. It’s good

course - I think that model is well understood here.

for exposing you to different management situations, different

How long have you been living here?

cultures, different situations.

What does your work involve personally?

I’m an executive chairman in a sense, because each of our major businesses is very capably managed by a chief executive.

What’s the biggest change you’ve noticed since you’ve been here?

I’m there to see that they have the right support and direction,

The economic growth has been considerable, and you can feel

making sure they have everything they need in terms of funds,

that in the way people look and behave. But you can also see a

people, etc. to function to their optimum ability. I travel a lot, but

difference in the self confidence of young Hong Kong Chinese

I’m in Hong Kong for roughly two thirds of the time.

people. That’s much more in evidence than when I came here in the late seventies. When you walk the trails like the Maclehose

Thank you for your continued support 22 www.b ri tc ha m. c o m

Of the travel I do, I’d say 70% is now to mainland China. A lot of

nowadays, you always see lots of local Chinese youth groups

our new investment, particularly on the property side, is now in

– that’s something relatively new. Young people here are

the mainland. And considering Hong Kong’s status within China,

more exposed to the outside world and more aware of what’s

our presence and our strong relationships there are increasingly

happening too.

important. We have several new properties in downtown Beijing, Shanghai, Guangzhou and Chengdu – we’ve been investing and developing them for several years and they’re now really

For further information about Swire Pacific please visit their

beginning to bear fruit.

website www.swirepacific.com.

NEWS/NEW APPOINTMENTS

China Logistics in Flux According to KPMG’s latest report on China’s logistics sector, On the Move in China, the sector faces a number of challenges, which are however partly offset by a recent e-commerce boom and

China to dominate IPO pipeline by 2025

rising domestic consumption. The report notes the high costs of managing logistics in China, which

Almost 80% of respondents in PwC’s Capital Markets in 2025 report predicted China

currently amounts to around 18 percent of China’s gross domestic product, higher than in many

will be the most favoured destination for companies looking to raise capital and float

developed countries. Moreover, the sector is fragmented as carrying goods around the country can

their businesses by 2025. In a poll of nearly 400 executives from across the globe,

involve a mixture of foreign, state-owned and domestic private businesses.

8 out of 10 also believed that by 2025, companies listing on Chinese exchanges

However, the main challenge for transport and logistics companies that On the Move envisages, is to keep pace with industrial relocation within China and also with the growth of domestic demand. They

would also raise the most capital of any international exchange through initial public offerings (IPOs).

are also subject to a range of taxes and regulations. Companies that span different parts of the supply

The report confirms the current attractiveness of London and New York as the leading

chain have to pay multiple taxes to various parties at different rates. However, changes are on the

financial centres for access to international capital, with 72% and 74% of those

way - the recent introduction of a pilot VAT tax reform in Shanghai from January 1 will see turnover tax

surveyed saying that they would consider those markets respectively for an IPO on a

replaced by value-added tax (VAT). Meanwhile, China’s rapid accumulation of e-commerce is helping

foreign exchange.

to drive new opportunities, as Chinese consumers increasingly opt for e-commerce and mail order shopping. A significant development in recent years has been the emergence of consumer-to-consumer

However, when asked what they thought the position would be in 2025, those

(C2C) e-commerce among China’s internet user population, now numbering around 300 million people.

percentages decreased to 27% and 39% respectively, due to the potential growth of capital markets activity in China (55%) and India (38%) by that time.

Despite current volatility in the equity markets, the volume and value of listings in the China Bourse of Shanghai, Shenzhen and Hong Kong has remained strong, and

Asian Firms Lag Behind Western Counterparts in Duty of Care to Employees, New Global Benchmarking Study Reveals

should continue to gather momentum when confidence returns to the markets. The combined market capitalisation of China’s Shanghai and Shenzhen equities markets has risen from US$400 billion in 2005 to US$4 trillion at the end of the fourth quarter of 2010.

A first-ever global benchmarking study released by leading global medical and security assistance company International SOS has shown that companies based in Asia lag behind those in developed countries in their awareness and practice of duty of care towards employees travelling or stationed abroad.

“Duty of Care” refers to the obligation of employers to protect employees overseas from unfamiliar – yet often foreseeable – risks and threats. The Duty of Care and Travel Risk Management Global Benchmarking Study surveyed 718 respondents from 628 global organisations over the last year on

China Manufacturing Sector Operating Conditions Deteriorate Slightly in December HSBC’s China Manufacturing PMI™ for December showed a continued deterioration in Chinese manufacturing sector operating conditions. Companies reported an accumulation of stocks of finished goods for the first time in 17 months, as incoming

international travel issues and challenges faced by business travellers, international assignees and their

new business fell at a faster rate relative to production.

families. Specifically, the study considered perceived high-risk locations. The study found that companies and respondents based in Asia and Middle East/North Africa scored lower in their awareness of Duty

After adjusting for seasonal variation, the HSBC Purchasing Managers’ Index™ (PMI™)

of Care, compared to those based in Australia/Oceania, Europe and North America. The lower ratings

– a composite indicator designed to give a single-figure snapshot of operating

for Asian countries were consistent in terms of overall company, industry and stakeholder awareness as

conditions in the manufacturing economy – posted 48.7 in December, up from 47.7 in

well as for the adoption of specific Duty of Care practices. When asked to rate their companies on the

November, signalling a modest deterioration in business conditions. Moreover, the index

adoption of specific Duty of Care practices, respondents from Asia also gave lower scores compared to

averaged its lowest quarterly reading since Q1 2009.

those from Australia, North America and Europe.

Manufacturing production in China decreased again during December. The rate of These findings show that Duty of Care is a concept more common in the developed world,

decline was only marginal, however, and notably slower than in the preceding month.

and can be explained by the lack of related legislation in Asia – unlike in countries such as UK

Where a decrease in manufacturing output was recorded, this was linked to lower

and Australia where Duty of Care is embedded in workers’ compensation laws. The study also

levels of incoming new business. According to the report, anecdotal evidence indicated

found that almost all respondent companies (95%) sent employees on business trips to high risk

that muted demand conditions had contributed to the decline in overall new business,

locations. Lawlessness, terrorism, political upheaval, civil unrest and pandemics were identified as

which was the second in as many months. Moreover, new export business also fell

among the top-20 risks faced by employees abroad. The high proportion of employees in high-

during December, ending a two-month period of growth. Survey participants that

risk locations underlines the pressing need of companies to consider seriously the security and

recorded a drop in foreign order levels commonly linked this to sluggish demand from

medical provisions offered.

external clients.

New Appointments The Ritz-Carlton Hotel Company, L.L.C. is pleased to announce the appointment of Pierre

“Hong Kong is a vibrant and exciting city,” he continued, “and at the

Perusset as General Manager of The Ritz-Carlton, Hong Kong – the highest hotel in the world.

highest hotel in the world, the sky is the limit! We will continue to take

Prior to this appointment, Mr. Perusset was the Managing Director of The Ritz-Carlton, Jakarta, The Ritz-Carlton Jakarta, Pacific Place, JW Marriott Jakarta, and Mayflower Marriott Executive

service excellence to new heights and are committed to be one of the best hotels in the world.”

Apartment. He has more than 30 years’ experience in the luxury hospitality industry, in excess of

His achievements include being named Best Leader in the Industry by the

12 of which has been with The Ritz-Carlton. His work experience spans more than ten countries

Tourism and Culture Ministry of Indonesia in 2006 and General Manager

including Europe, U.S., Asia and the Middle East. He first joined The Ritz-Carlton Hotel Company

of the year by Middle East Hotelier Magazine in 2004. Under his leadership, The Ritz-Carlton

as Executive Assistant Manager at The Ritz-Carlton Osaka, Japan in 1999.

properties have won numerous regional and international awards and recognition. During his tenure

“The dedication that The Ritz-Carlton devotes to its employees, guests and the community has influenced me immensely,” commented Mr. Perusset. “I believe that through enlivening

Pierre Perusset

at The Ritz-Carlton Doha, Qatar, the property achieved 95% employee and guest satisfaction based on GALLUP survey and their spa was named Spa of the year by Middle East Hotelier Magazine.

The Ritz-Carlton Gold Standards everyday, we will be able to foster a strong relationship

A native of Switzerland, Mr Perusset graduated with honors from Ecole Hoteliere de Lausanne

with our employees, build engagement with our guests and give back to the community by

in Switzerland with a Hotel and Restaurant Management degree. He enjoys spending time with

exemplifying genuine care.”

family, dining out, swimming and practicing Tai Chi and meditation.

January/February 2012 • Vol 27 • No 1

23

MEMBERSHIP

Member Discounts 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

Food and Beverage and Accommodation

Home

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

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

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.

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 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 Benjamin Mueller-Rappard on 2315 5642 or bmr@themirahotel.com

24 www.b ri tc ha m. c o m

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

NEW MEMBERS Chairs of Specialist Committees Business Policy Unit Tim Peirson-Smith Executive Counsel China Committee David Watt DTZ Construction Industry Group Derek Smyth Gammon Construction Education Committee Stephen Eno Baker & McKenzie Environment Committee Anne Kerr Mott MacDonald Hong Kong Limited Financial Services Interest Group Debbie Annells Azure Tax Consulting HR Advisory Group Brian Renwick Boyden Search Global Executive ICT IT Committee Craig Armstrong Standard Chartered Marketing & Communications Committee Adam O’Conor Ogilvy & Mather Group Real Estate Committee Jeremy Sheldon Jones Lang LaSalle Scottish Business Group John Bruce Hill & Associates Logistics Committee Mark Millar M Power Associates Small & Medium Enterprises Committee Kate Kelly K2PR Women in Business Committee Sheila Dickinson Ipac Financial Planning Hong Kong Limited YNetwork Committee Fiona Foxon Quintessentially Business Angel Programme Neil Orvay Asia Spa & Wellness Limited Tim Hay-Edie Pilot Simple Software

CORPORATE

ADDITIONAL

YNETWORK

CIO Connect

Dewey & LeBoeuf

BT

Les Hales Managing Director Tel 3012 9411 les.hales@cio-connect.com 27/F B, 235 Wing Lok Street Trade Centre Sheung Wan, Hong Kong Computer / Technology / IT

Joyce Chan Principal Tel 3697 7025 jshchan@deweyleboeuf.com Room 2010, Citibank Plaza, ICBC Tower 3 Garden Road, Central, Hong Kong Legal

Tom Harris Business Management Graduate Trainee Tel 2290 3104 tom.harris@bt.com 38/F Dorset House, Taikoo Place 979 King’s Road, Quarry Bay, Hong Kong Telecommunications

International Study Programs

Ketchum

BT

Viktoria Kish Managing Director Tel 6301 7321 kish@studyprograms.com 9/F, Central Building, 1-3 Pedder Street Central, Hong Kong Education

Kitty Parkes Account Director Tel 2566 1311 kitty.parkes@knprhk.com 33/F, Two Chinachem Exchange Square 338 King’s Road, North Point, Hong Kong PR & Marketing

Tugce Narin Business Management Graduate Trainee Tel 2290 3104 tugce.narin@bt.com 38/F Dorset House, Taikoo Place 979 King’s Road, Quarry Bay, Hong Kong Telecommunications

John Brown Media

KPMG Corporate Finance Limited

BT

Alex Silcox Managing Director Tel 3711 3066 alex@kleio.com.hk Suite 10L, 151 Hollywood Road Central, Hong Kong Printing/Publishing

Simon Booker Director Tel 2140 2336 simon.booker@kpmg.com 8/F, Prince’s Building, 10 Chater Road Central, Hong Kong Financial Services

Debbie Tsang Business Management Graduate Trainee Tel 2290 3104 debbie.tsang@bt.com 38/F Dorset House, Taikoo Place 979 King’s Road, Quarry Bay, Hong Kong Telecommunications

Ketchum

BT

Simeon Mellalieu General Manager Tel 2566 1311 simeon.mellalieu@knprhk.com 33/F, Two Chinachem Exchange Square 338 King’s Road, North Point Hong Kong PR & Marketing

Taffany Leung Business Management Graduate Trainee Tel 2290 3104 taffany.leung@bt.com 38/F Dorset House, Taikoo Place 979 King’s Road, Quarry Bay, Hong Kong Telecommunications

Mourant Ozannes Paul Christopher Partner Tel 3995 5701 paul.christopher@mourantozannes.com 8/F, Suites A&B, Entertainment Building 30 Queen’s Road, Central, Hong Kong Legal

National Australia Bank Rob Wright CEO Tel 2822 9768 Rob.wright@nabasia.com 27/F, One Pacific Place, 88 Queensway Hong Kong Banking

Start JG Jonathan Cummings Managing Director Tel 2801 7776 jonathan.cummings@startjg.com 13/F, 151 Hollywood Road Central, Hong Kong Advertising & Design

INDIVIDUAL Alison Asome Tel 2851 6999 alison_asome@hotmail.com 1401 China Insurance Group Building 141 Des Voeux Road, Central Hong Kong

SUSTAINING CORPORATE FDM Group HK Ltd Neil Holland Business Manager Tel 3977 0507 neil.holland@fdmgroup.com Level 27, World Wide House, 19 Des Voeux Road, Central, Hong Kong Computer / Technology / IT

STARTUP Bordeaux Wine Investments (Hong Kong) Martin Lea General Manager Tel 2159 9614 martin@bwi.hk 20/F, Central Tower, 28 Queen’s Road Central, Hong Kong Wines & Spirits

FCRM Consultancy Limited

Ogilvy & Mather (HK) Pte Limited Olivia Paul Management Fellow Tel 2848 8937 olivia.paul@ogilvy.com 23/F, The Center, 99 Queen’s Road Central, Central, Hong Kong Advertising & Design

Martin Muirhead Managing Director Tel 3690 6302 martin.muirhead@fcrm-consultancy.com 15/F, 100 Queen’s Road Central Hong Kong Financial Services

STERLING ADDITIONAL

Hong Kong Corporate Solutions

Zurich Financial Services

Joanna Faye CEO Tel 2815 2855 jf@hkcorporatesolutions.com Suite 1003, 10/F, Silvercord Tower 1 30 Canton Road, Tsim Sha Tsui, Hong Kong Business Services

Jenny Pong Head of Human Resources, Asia Pacific, General Insurance Tel 2977 0109 jenny.pong@hk.zurich.com 24-27/F, One Island East 18 Westlands Road, Island East Hong Kong Insurance

K5 Advisors Ltd. Philipp von dem Knesebeck Managing Partner Tel 6392 4919 philipp@k5advisors.com 1036, 10/F, Central Building 1-3 Pedder Street, Central, Hong Kong Consultancy

Wicked Tristan Stewart Managing Director Tel 9035 2225 tristan@wicked.asia Level 10, Central Building 1-3 Pedder Street, Central, Hong Kong Computer / Technology / IT

OVERSEAS Orient-Express Trains and Cruises Marcos Pires Director of Sales & Marketing Tel +65 6395 0678 oereservations.singapore@orient-express.com 100 Beach Road, 32-10/03, Shaw Tower 189702, Singapore Travel Services

Primary Contact Sdn Bhd Victoria Rankine Human Resource Manager Tel +659 369 3012 toria@primary-contact.com Unit 17-07, 17/F Menara MSC Cyberport 6 Jalan Bukit Meldrum 80300 Johor Bahru, Malaysia Telecommunications

January/February 2012 • Vol 27 • No 1

25

EVENTS Sponsored by

The British Chamber Christmas Drinks 13th December 2011, HSBC Main Building

26 www.b ri tc ha m. c o m

EVENTS

Shaken Not Stirred 19th January 2012, W Hong Kong Josefina Bergsten (Pictures by the Wayside), Edward Ng (Santa Fe)

Sydney A. Smelt (Smith Stone Walters), Claire Mathieson (Moonlight Marketing)

Avis Leung (American Express Intl.), Anson Zeall (Stoxter)

Lucy Jenkins (The British Chamber of Commerce in Hong Kong), Jason Barker (Mamas and Papas), Robbie Wood (DB Schenker)

Jo Challis (Blippar Affiliated Representative), Rosemary Molloy

Lawson Chu (Kroll), Hoi-Lem Lee (Kroll), Vincent Bremner (Orangefield), Gillian Chan (Orangefield)

David Dodwell (Strategic Access Limited), Jiao Xiaoming

Daniel Green (The Fry Group), Dominic Masterton-Smith (Human Communications), Simon Ho (The Fry Group)

Alexis Lee Phillips (Magnet Harlequin Asia), Derek Ip (Santa Fe)

Josephine Chim (Imagination), Leigh Mackeurtan (Concise Media Design)

Jennifer Berger (Elliott Scott), Phillip Welburn (Elliott Scott), Jérémy Artan de Saint Martin (iExcel Consulting)

Jessica Dai Mei Ying (Bocom International Securities), Jae Hee Lee (Gore)

Cecile Lamige (The Executive Centre), Marcus Bray (Imagination)

Dorothy Luo (AIA), Andrew Bunn (Lufthansa), Eliza Lee (AIA), Daniel Green (The Fry Group)

Will Sweeney (Concise Media Design), Jonathan Cummings (Start J.G.)

Gregory Seitz (AGS Four Winds), Alexis Lee Phillips (Magnet Harlequin Asia) January/February 2012 • Vol 27 • No 1

27