Britain in Hong Kong December 2011 by The British Chamber of Commerce

D e c e m b e r 2 0 1 1 • V o l 26 • No 11

In This Issue

PAGE

Beach Cleanup

The Battle for Talent in Asia By Mark Millar

Economic Growth across Asia

professionals across all job functions and all

region identiﬁed logistics, supply chain and

Whilst western developed markets

industry sectors.

customer-facing roles the most difficult

a re e x p e r i e n c i n g t o u g h t i m e s , w e s e e

PAGE

Wine

roles to recruit for. In response to the

encouraging economic growth throughout

Over and above the well established out-

question ‘Which functions have you found

Asia’s complex mix of emerging, developing

sourced manufacturing bases we now

it most difficult to recruit for?’ the survey

and developed markets.

have the rapidly developing consumption

results showed the following as the top ﬁve

economies in the Asia region - in particular

categories:

Asia has for many years been the workshop

India, China and Vietnam - also driving

1. Logistics & Transport

of the world, deploying plentiful low-

demand for experienced practitioners.

2. Supply Chain

c o s t l a b o u r t o m a n u f a c t u re g o o d s f o r export to consumers in the west. In recent years, expanding economic prosperity – in large part fuelled by the success of the manufacturing sectors – is seeing the rise of increasingly prosperous consumers. It estimated by OECD that by 2030 Asia will account for 66% of the world's middle class,

Limited Supply However, the overall pool of talent is not to keep up with the demand – and hence the spiralling payroll costs as organisations

continuing growth patterns are presenting multiple challenges in the area of Human

that is available.

where both production and consumption are rapidly expanding - there is simply not

demand, resulting in the Battle for Talent

Organisations need to be thinking from the simple questions – ‘Why should I choose to join this company?’ and ‘Why should I chose to stay at this company?’

let alone support continuing rapid growth.

Attraction Amongst the fierce competition to

Although with Asia’s large populations

attract the best talent, it is essential for

there is substantial critical mass of labour -

organisations to adopt a marketing type of

with an abundance of talent, a wide range

approach to its human resources activities.

of skills and plenty of experience, there is

Within their respective industry sectors,

not a deep enough pool of workers with

individual businesses need to promote

the right skills and experience – and in the

their company image and build their brand

Demand Drivers

right place, thus causing the current skills

– as an “employer”, over and above their

Capitalising on the growth potential in

shortage across all sectors.

market positioning as a supplier. In the

in Asia. In the Gartner 2011 survey, CEO’s identiﬁed ‘Attracting Skilled Workers / Talent’ as their number two priority, second after retaining existing customers.

the Asia region is becoming increasingly

Plus

two fronts – Attraction and Retention.

enough talent to satisfy the existing demand,

Capital, where the supply cannot meet the

Venture Photography

The “Battle for Talent” needs to be fought on

ﬁercely compete to attract the limited talent

Especially in these developing markets in markets throughout Asia and these

5. Customer Service

employee’s perspective and consider two

Thus we are seeing rapid expansion

PAGE

4. Sales & Business Development

expanding rapidly enough for the supply

up from 28% in 2009.

PAGE

Travel

3. Distribution & Warehousing

current environment companies are not

important on the executive agenda and this

An employment survey conducted by

only competing for customers, they are also

is driving increasing demand for experienced

Logistics Executive throughout the Asia

competing for employees.

• News / New Appointments • Events • Shaken Not Stirred

(Continued on page 2)

www.britcham.com

COVER STORY (Continued from cover)

Particularly important for companies that do not have global brands or prestigious industry

results just yet, during something of an investment phase – will play a major role in

positioning in the multi-national arena, is the need to increase their presence and proﬁle on

increasing employee retention rates.

the radar of potential future employees, through various marketing activities. I encourage focusing extra due care and attention during this start-up phase to ensure a Tactics to deploy include active and public participation in community activities, engagement

positive, welcoming, encouraging experience for the new recruits – extra efforts here will

with the relevant industry associations and regular exposure in the trade publications –

pay dividends later on.

these will all help towards positioning your company as an employer of choice. In addition to successful on-boarding programs for new employees, companies also need In addition, with the increasing awareness and concern throughout society about

strategies and tactics to improve Retention on an ongoing basis.

environmental issues, a company having - and articulating - clear policies and strategies on Corporate Social Responsibility (CSR) is escalating in importance as one of the factors for

Back-to-Basics best-in-class business practices for supervision and management can

consideration by potential employees.

make a huge impact. Some of the key drivers of employee satisfaction – which in turn has a major inﬂuence on retention – are enshrined in basic management principles.

Developing linkages with the relevant education sectors and institutions will assist in developing options for entry-level talent acquisition. In my view, this represents substantial opportunity

Generally speaking, Satisﬁed Employees...

for employers to attract local talent into their organisation at grass roots level, deploy

•

clearly understand the requirements and expectations from them,

graduates through job rotation and management development programs, thus generating a

•

feel they have the tools, time and training to do their job properly

home-grown pool of talent with high levels of commitment loyalty to the employer.

•

see opportunities within the company to learn and grow

•

feel rewarded, recognised and appreciated

All too often, it seems that the majority of organisations do not have enough patience, management bandwidth or the investment perspective to adopt this approach – and

Hence, working on employee satisfaction is a key part of employee retention. Other

therefore continue to poach talent from their competitors, thus exacerbating the challenges

strategies to increase employee retention include organisational belonging – creating and

and increasing the costs – for everyone.

nurturing a work environment where employees feel a sense of belonging – to their team, their department and the company – inside and outside of work hours.

In a recent survey of C-level executives, more than half of respondents describe ‘experience within the industry’ as the best source of talent – this means that organisations prefer to improve their human capital by recruiting experienced people away from their competitors.

One example I recently came across in Vietnam is a consumer products company that adopted three speciﬁc strategies which have increased employee loyalty and improved retention: •

workers to enjoy team and social activities together outside of work hours

Nolan, senior vice president of HR for Unilever in Asia says “you have to offer employees a reason to want to work for YOU. Employees need to feel they are not only pursuing a

Company sponsorship of sports activities and company sports teams - engenders company belonging, loyalty and community spirit, and facilitates opportunities for

However, you have to create attraction strategies over and above just more money. As John •

Job Rotation program enabling employees to progress horizontally across different departments – at the same pay scale – but providing opportunities to broaden their

career, but that they have a chance at impacting the world and the community.”

experience and learn new skills In addition to the dollars and cents of the salary and beneﬁts package, companies that offer

•

Performance related cash bonuses - at individual and team level – for speciﬁc results

ongoing training and development programs leading to varied career opportunities are likely

achieved over and above expected targets, providing opportunity to increase take home

to be successful in attracting good quality talent.

pay – funded by results above and beyond budgeted levels

Successful Selection supports Retention

Conclusion

It should be noted that due diligence during the recruitment and selection process will increase

An organisation’s human capital assets are increasingly a major source of competitive

the likelihood of successful deployment and increase retention. Selecting the right candidate

advantage and a key driver of proﬁtability.

for the right role requires experience and expertise - combined with clear communications. This is particularly true in service oriented sectors, where, despite the huge investments One of the most common reasons for managers leaving within one year is the job role

in physical assets and information technology, at the end of the day it is the employees’

failing to meet their expectations. Another is candidates using the job as a hopping platform

actions that empower the effective and efﬁcient execution of the company’s supply chain

to better offers. Thorough discovery during the recruitment process – engaging expert

ecosystem – essential for success in modern business.

external resources as required – will play a large role in mitigating these risks. The current imbalance in the talent market reﬂects inadequate supply to meet the increasing

Retention Having successfully attracted the talent and selected them to join your organisation, the

demand - and this is increasing business costs, both directly on the payroll and indirectly though higher turnover and additional recruitment.

challenge then becomes how to retain them for as long as possible. Active Retention should form a key component of your company’s overall Talent Management strategy – and this should start right from day one.

Attraction and Retention are critical success factors for effective talent management - and there are several creative ways to improve performance in these key areas – over and above the salary package. Adopting marketing strategies from an employer perspective will

Successful on-boarding is an essential start to inducting new hires – this includes rapidly integrating new staff into the organisational culture and the day to day business of how the company works. Structured induction programs providing broad

increase attractiveness, whilst additional due diligence during the recruitment process will enable successful selection. Effective on-boarding and ensuring a positive and successful ﬁrst ninety days for new hires will substantially inﬂuence retention over the longer term.

exposure throughout the organisation and deep immersion into the new hire’s specific functional areas, together with developing a crystal-clear understanding of roles, responsibilities, deliverables and measurements, are all key elements of best-in-class on-boarding programs.

Mark Millar leverages 25 years of global business experience to provide consulting, advisory, education and recruitment services that create value for clients by empowering business performance. Acknowledged as an industry thought leader, clients have engaged

The first ninety days of the new recruit’s experience within your organisation will have a significant impact on their longevity in your company. Hence the first three months of the new employee’s tenure – whilst they are getting up to speed, not necessarily delivering

www.b ri tc ha m. c o m

Mark as speaker, moderator, conference chairman or Master of Ceremonies at more than 200 functions in 17 countries. He serves as Chair of the Logistics Committee at the British Chamber mark@markmillar.com

The Magazine of the British Chamber of Commerce in Hong Kong

CHAIRMAN’S MESSAGE

Editor

As I write this the EU is in the middle of trying to secure agreement around the Euro, the PMI index in China slipping below 50 and

Sam Powney

the US debt mountain continuing to grow it is hard to be optimistic going into 2012. However the great thing is that corporates are

Design

performing very well and it would it not be a great thing if our businesses could run a country’s ﬁnancial matters for a year or two......

Bill Mo Alan Wong Ken Ng

I am sure they would do a much better job than some of the politicians!

Advertising Contact

In Hong Kong of course we are extremely lucky as the economy here has held up well over the Year, our surplus is strong and with

Charles Zimmerman

China now focusing on Hong Kong as its ﬁnancial and professional services hub I have no doubt that Hong Kong is in good stead for

Project Management

another year of prosperity during 2012.

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

As I look over the year I am delighted with how the British Chamber has performed. We are ﬁnancially strong, we have excellent relationships with the government and all the political parties in Hong Kong, the quality and depth of our membership and committees are to be admired. We have focused on the real issues in Hong Kong and we are making a difference.

We have made clear our position on the minimum wage - whilst supporting it we were not impressed with the implementation. We have focused on the challenges of a severe lack of International school places, this has now become a business issue on which all the chambers here are concentrating their attention, it is being raised in Legco and I ﬁrmly believe we will see progress very soon.

On the competition law, it is becoming very apparent that the law as it stands is not workable. We have requested clear terms of references; vertical arrangements exclusions and for public bodies to be included. As it stands the law is looking more like a selective

British Chamber of Commerce Secretariat

tool to prod only a few sectors including the retailers and airlines. This we cannot and will not support.

Executive Director CJA Hammerbeck CB, CBE

On the side of conferences and speaking, we have held hundreds of events during the year, with excellent feedback. We have hosted

General Manager

many ministers and politicians and I am delighted to see Hong Kong being squarely in the sights of the British government’s push for

Cynthia Wang

more exports to the region. It is great to see Hong Kong is the only non-capital on the focused list.

Marketing and Communications Manager

Regarding forthcoming events we are delighted to host Dr. Colin Selby of Selby & Mills Ltd, who will be addressing audiences in

Emily Ferrary

Special Events Manager

January 2012, on creating the right mindset at a lunch seminar, there is an opportunity for attendees to complete a mindset or

Becky Roberts

competency assessment before the presentation and receive their own personal report when they attend. This should be interesting!

Events Executive

Another key event to mark on your calendar which is being organised by the Chamber's Environment Committee, is a half day visit to

Mandy Cheng

TIOSTONE Environmental Limited. It is an opportunity to witness how glass and construction waste is recycled into paving bricks in

Business Development Manager

Hong Kong. The tour will start at the glass collection point in Wanchai, followed by a tour of the glass recycling factory and will end by

Dovenia Chow

showing you the ﬁnal application of Eco-Glass Bricks.

Membership Executive Lucy Jenkins

Finally and most importantly it is Christmas, in the ﬁrst instance I would like to thank Christopher and all the staff for a great year.

Accountant Michelle Cheung

Executive Assistant Jessie Yip

I would also like to wish all our Members and your families a Merry Christmas and a Happy and Healthy New Year. The British Chamber’s membership is contributing enormously to the success of Hong Kong, please all take time out and enjoy the break.

Secretary Yammie Yuen

Merry Christmas and have a splendid 2012!

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.

HIT TOUR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 BEACH CLEANUP . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 MTR TOUR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 WINE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 TRAVEL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 VENTURE PHOTOGRAPHY . . . . . . . . . . . . . . . . . . . . 12 PERSPECTIVE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

NOVEMBER EVENTS . . . . . . . . . . . . . . . . . . . . . . . . . UPCOMING EVENTS . . . . . . . . . . . . . . . . . . . . . . . . . NEWS / NEW APPOINTMENTS . . . . . . . . . . . . . . . . . MEMBER DISCOUNTS. . . . . . . . . . . . . . . . . . . . . . . . NEW MEMBERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SHAKEN NOT STIRRED . . . . . . . . . . . . . . . . . . . . . . .

14 15 16 17 18 19

BUSINESS YNetwork Director’s Club Dinner Hosted by James Riley, CFO of Jardine Matheson Written by Rory Gammell – Jones Lang LaSalle Limited

November saw the ﬁrst Director’s Club dinner of 2011 for our YNetwork members hosted by James Riley, Group Financial Director of one of Hong Kong’s oldest trading companies of British origin - Jardine Matheson Ltd. The evening was held in the pristine Penthouse at the top of Hongkong Land’s iconic Jardine

When James ﬁrst ﬂew over to Hong Kong on an exceptionally bumpy plane journey with his then

House, with stunning panoramic views from the balcony over Hong Kong’s illuminated

pregnant wife, he had a hellish ﬁrst week. Upon arrival he discovered he was to be the Executive

harbour. Having been a legendary previous Chairman of the British Chamber (2008-10) and a

Assistant to the Chairman – a role that involved a substantial amount of logistical admin,

supporter of the young executives within it, James was of course an excellent host.

which hadn’t been in the original job description! James humbly admitted that this role didn’t suit him at all, referring to one occasion where he accidentally took the Managing Director on the

James is instantly recognisable as an amicable, well brought up, charismatic Brit. However, under

Star Ferry to Wanchai instead of to Central! Fortunately the Managing Director saw the funny side

the skin he is clearly a razor sharp, calculating machine who knows every nook and cranny of

of this, assigned James a preferred role, and the rest, as they say, is history. James sailed up the

his business. The YNetwork did their best to delve deep with a wide range of grilling questions

ranks within the Jardines Group, gaining exposure to their Motors Property business, Jardine

relating to Jardines’ past - the good times, the bad times and its performance over the years. One

Cycle & Carriage and Hongkong Land, eventually becoming responsible for the businesses

banker was surprised to learn that Jardines, although a listed company, had never undertaken an

grouped under Jardine Paciﬁc, and later an Executive Director of Jardine Matheson Holdings.

investor roadshow. Another guest, a property expert, was surprised to learn that Jardines were not interested in the buy low, sell high concept! It was soon made clear that Jardines is all about

On top of his successes within the Jardines Group, James is the Chairman of the Royal

‘the long game’ – making the best of an asset or business over time, and holding onto it. To the

Geographic Society in Hong Kong, which has grown enormously in popularity since he took

unique and diverse business model of Jardines, it was noteworthy to hear his atypical views

the reins. Their annual dinner in November was their largest ever recorded, with a talk by Sir

on their business and how they have achieved growth and provided shareholder value. James

Ranulph Fiennes, probably the world’s greatest living explorer. One can only wonder what is

deﬁnitely took some gruelling questions, but all in good spirit! Every question was answered in

the next trick that James has up his sleeve...

depth with eloquence, usually backed up with examples – almost as if rehearsed. On behalf of the YNetwork, I’d like to pass on our thanks to James for being excellent While being plied with endless courses of delicious food and wine, conversation moved

company, and for hosting a fascinating evening in an elegant location.

onto James’ life, his interests, his travels, and how he came to live in Hong Kong. James began his career as a Chartered Accountant and went into investment banking with Kleinwort Benson in the 90s which took him to Argentina. From there he was offered a job

If you would like to learn more about how you can attend the next Director’s Club dinner

with Jardines in Hong Kong, but it wasn’t plain sailing from the beginning...

please email Lucy Jenkins lucy@britcham.com.

Please update your company details for the 2012 British Business Directory

Take your business to new heights

Deadline is Friday 23rd December - changes made to the database after this date will not be reﬂected in the printed directory

If you are the named corporate member: 1. Go to www.britcham.com 2. Login - you can use your email address as the user ID and your password. If you have forgotten it then please click the 'forgotten password' link and you will be sent an email showing how to reset it 3. Click on 'company details' using the menu on the left 4. Click on 'edit' and make the required changes. Remember to click 'save' before you leave the page 5. Please note that you may include a Corporate Description on your profile (700 characters (incl spaces) for English and 200 characters (incl spaces) for Chinese) that will be printed in the Directory If there is a contact person in your company who is responsible for updating the Directory and therefore should be receiving these reminders, please email emily@britcham.com with their contact information so their details can be added to this mailing list.

IF YOU DO NOT CHECK YOUR DETAILS BEFORE 23rd DECEMBER IT MIGHT RESULT IN INCORRECT DETAILS BEING PRINTED

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Baker Tilly Hong Kong Business Angel Programme Calling all Start Ups! If you have a great idea or have started a new business and are looking to grow, the Chamber would like to help. The Baker Tilly Hong Kong Business Angel Programme, run by the British Chamber of Commerce, brings entrepreneurs and investors together to create exciting new partnerships. It gives entrepreneurs with new business ventures, or SMEs looking for funding to expand, the opportunity to present their business plan to potential investors (known as Angels). Applicants, who do not need to be members of the British Chamber of Commerce, should be seeking to raise between USD100,000 to USD2,000,000. Shortlisted applicants will be given advice and assistance by a sub-committee of experienced professionals. Sponsored by: The next event will be taking place in March 2012 and the deadline for applications is Friday 10th February 2012. If you’re an entrepreneur or SME looking for investment, and would like to ﬁnd out more about this programme, please visit our website or email emily@britcham.com

BUSINESS

Touring the Terminals by Emily Ferrary

26th October, 2011 the British Chamber of Commerce’s Logistics Committee once

again led a team of industry enthusiasts up to Kwai Ching Port for a fascinating tour of one of the world’s busiest container ports, the Hongkong International Terminals (HIT) facilities. Following the success of the tour in 2010 the Committee decided to arrange another visit and the afternoon was once again hosted by John Harries, the Port Development Director. The tour was split into three parts, starting with a comprehensive and informative history about the development and operations of Kwai Tsing Port. This was followed by a visit to HIT’s control centre and ﬁnally a coach tour of the terminal berths and storage yard facilities. Initially the group was led to the Headquarters where John delved into the history and described in

The next stop on the tour was the ‘eyes’ of the operation, the control centre, where the

ﬁne detail how the Hongkong International Terminals came into being. Hong Kong has had

group saw ﬁrst-hand the dedicated and hardworking staff at work managing the logistics

a long maritime history dating back to the mid 19th century. Interestingly, however, it was

of the stacking, moving and planning of the containers in the yard through the state-of-

only in the 1960s, when a report on containerisation was produced which indicated that the

the-art computer systems. They also use a highly accurate ship planning system that

government had started to think about building a purpose-built container terminal. It was

calculates optimal sequences for discharging and loading vessels ensuring ship stability

not until 1970 that construction of the ﬁrst three terminals started and things moved swiftly

and efﬁcient operations. The tour ended with a fascinating coach ride around the berths

from there with work on Terminal 4 commencing in 1974.

and storage yard facilities where we could see everything in action. Unbelievable numbers of containers stacked neatly ready waiting to be transported, whilst the crane operators

To begin with the operation only served Hong Kong. However, with the opening of China’s

were working 75 metres above the ground working by eye to ensure the accurate delivery

economy and manufacturing bases in Southern China there was soon an explosion of

of the containers – impressive stuff!

manufacturers all wanting to take advantage of these new developments. Hong Kong soon became China’s main transshipment hub. HIT, in turn, continued to expand and by

Today, HIT continues to play a key role in the continuing development of Hong Kong’s largest

1987 Hong Kong was named number one in world container port throughput. It took a

container terminal, ensuring it has the resources, facilities and people required to achieve

decade for the region around Yantian and the west side of the Pearl River Delta to develop

smooth and efﬁcient handling of container cargoes. Since it was established in 1969 HIT has

container developer facilities closer to the manufacturing cities of Donguan and west of the

continuously set industry benchmarks for productivity, efficiency and value-added services

Pearl River. The 90s saw continued growth, and by the year 2000 terminals 4,6 and 7 were

which was all too evident during the tour. Using modern management techniques, sophisticated

fully operational with terminal 8 East being operated as a joint venture with COSCO Paciﬁc

computer systems and award winning IT applications, HIT has become a pinnacle of industry

and construction of terminal 9 just commencing.

excellence. The Hongkong International Terminals may seem slightly off the beaten track for most of us city based workers but it was certainly a fascinating visit and an extraordinary insight

John used an amusing

into why exactly HIT is at the forefront of the international shipping community.

analogy to explain the efﬁcient operations of HIT by comparing it to the human

KEY FACTS

anatomy. He explained how

•

HIT operates Container Terminals 4, 6, 7, 9 North and 8 East (a joint-venture with

•

A continuous quay length of over ﬁve km provides for 14 ship berths and up to nine

COSCO Paciﬁc) at the Kwai Tsing Container Port.

the headquarters are the ‘brains’ of the operation

barge berths served by 56 quay cranes (capable of handling the latest container

where all the planning and

vessels) and seven rail-mounted jib cranes.

execution takes place. The ‘eyes’ are in the control

•

Adjacent container storage is handled by 24 rail-mounted gantry cranes and 168

•

The Hutchison Logistics Centre located at Container Terminal 4 with 377,741 square

•

At the heart of all operations, HIT's advanced Terminal Management System is becoming

rubber-tyred gantry cranes.

tower with a dedicated team meticulously checking every CCTV in all the berths. Then there is the ‘nervous system’ – a highly efﬁcient WIFI system that makes sure that all the messages

metres of ﬂoor space also houses HIT's own container freight station operations.

are communicated accurately and on time throughout the port. Now to the ‘body’, the yard cranes. These act as the ‘arms’ and the ‘legs’, carefully lifting the containers onto trucks and off again for transfer between the container yard and the vessels at berth. The trucks, which are

increasingly customer-focused to ensure shipping lines receive world-class service.

continuously moving containers around the container yard, represent the ‘blood system’. They must operate constantly in order to ensure that the operation is fully functioning at all times.

For more information please visit www.hit.com.hk D ecem b er 2011 • Vol 26 • N o 11

ENVIRONMENT

Cleaning the Hong Kong Waters by Emily Ferrary

The

team at the British Chamber of Commerce and several active members got together

beaches and coastlines sparkling and helped raise awareness of marine debris

on Friday 28th October to take part in The 11th Annual Hong Kong International Coastal Cleanup Challenge. Having supported the organisation behind the programme, Ecovision, for some years

citywide. In total, nearly 48,000 kg of waste was cleaned up from HK beaches with almost 12,000 volunteers taking part. Here at Britcham, we are certainly

and as part of our corporate social responsibility obligation to support the HK community, the Chamber’s Environment Committee believed it was time to get involved ourselves!

proud of our small contribution towards this and would very much encourage our members to get involved next year. So grab your friends, colleagues and family and join the HKICC 2012 in cleaning Hong Kong’s beautiful beaches and marine areas!

After a wholesome lunch we headed over to Wah Fu, an area located in the Southern District of Hong Kong Island. Wah Fu mainly consists of public housing estates, although the area also has a notable beach known as Waterfall Bay which was the beach we had been assigned to clean. It has long been believed that the waterfall at Waterfall Bay used to attract British ships coming to Hong Kong to fetch fresh water after their long journey. Nowadays unfortunately, as we soon discovered, it is a different story! Once everyone had arrived, we walked down the winding path to the beach, clambering over some locked gates which are meant to deter the public, with a slight apprehension about what the afternoon

About the Hong Kong International Coastal Challenge The HKICC is a year-round effort to keep Hong Kong’s oceans and beaches free from waste so that they are safe for people and animals. It serves to bring together corporates, the community, schools, NGOs, government and individuals in a combined effort to raise awareness of the problem of marine debris and plastic pollution. The annual ﬂagship Hong Kong cleanup is organized by Ecovision Asia and celebrates this commitment.

RESULTS 2011 HKICC RESULTS & FINDINGS: OVERVIEW 2011 TOP TEN DEBRIS ITEMS: HONG KONG

was going to involve…or indeed unfold! Splitting into two teams we spent the following four hours cleaning up over 120 kg worth of waste materials, whilst Mandy

Plastic Bags

Cutlery / Goodware

Caps / Lids

Glass Bottles

and Michelle both meticulously filled in the data cards recording exactly what was found. Both teams came across some extraordinary items ranging from shopping trolleys to tired

Straws / Stirrers

Beverage Cans

Plastic Bottles

Polystyrene

footballs, old tyres to disused fridge parts. We barely took a break as the task was seemingly endless, yet the time ﬂew by and as the sun began to set we decided to call it a day. Our ﬁnal challenge was to move the huge pile of waste that had grown throughout the afternoon, up to the main road. Exhausted, yet with a certain sense of pride, we tucked into a small picnic and a nice cold beer enjoying the last of the autumn rays feeling happy with what we had managed to achieve.

Food Wrappers

Cigarettes

NUMBER OF PARTICIPANTS: 11,912 KILOGRAMS OF TRASH COLLECTED: 47,942 KILOMETERS CLEANED: 172 (*Numbers subject to change as all data has not been tallied)

As a gesture of Ecovision’s appreciation for everyone’s support and hard work, they hosted an awards ceremony at Shore Restaurant & Bar in Central, on Wednesday 2nd November, to celebrate the results of the 2011 Coastal Cleanup. Despite typhoons and strange weather for the time of year, a record number of volunteers left Hong Kong’s

New Focus CSR is increasingly on the agenda of top executives around the world, and the demand for support around the subject has prompted the Chamber to look at establishing a CSR Committee. We are still in the early phases but would be interested to hear members’ thoughts on the establishment of such a committee, as well as the issues and areas you feel should be covered. Our mission will be to accelerate our members contribution to, and beneﬁts realised from, CSR in Hong Kong. For any feedback and enquiries, please contact Dovenia Chow at dovenia@britcham.com or on 2824 2211.

www.b ri tc ha m. c o m

This represents a 37% increase in participation since last year! And with Typhoon Nesat tossing masses of debris ashore, volunteers had their work cut out, collecting 33% more trash than in 2010. Data from the 2011 cleanup revealed that single-use disposable PLASTIC is still the predominant debris item, which will come as no surprise to the intrepid volunteers who cleaned it off the beaches again this year: Food Wrappers 13,293

Plastic bottles 13,377

Straws stirrers 13,704

Caps lids 18,082

Plastic bags 19,294

Data is a vital contribution to better understanding the issue of marine debris and creating solutions that work. Hong Kong’s marine ecosystems are suffering tremendously, and need support from government, industry, community and individuals. The truly promising thing about marine debris is that it is entirely preventable. By helping to reduce trash and single-use plastic waste, everyone can take a role in making our seas cleaner, healthier and more resilient!

ENVIRONMENT

Going Underground “BRITCHAM SUSTAINABILITY SHOWCASE” Tour of MTR Kowloon Bay Depot By Patrick Budden

Wednesday 3rd November Britcham members were privileged to have a tour of the

MTR Kowloon Bay Depot. After meeting up in the MTR Headquarters, a briefing had been arranged in their Auditorium before the tour of the depot began. First on the briefing agenda was a MTR corporate video entitled “a journey of moving people”, which was very impressive and gave us all a much broader and more in depth knowledge of the MTR as a Corporation. The MTR Corporation was established in 1975 as the Mass Transit Railway Corporation, but 25 years later, in June 2000, was re-established as a result of the HKSAR selling 23% of the issued capital to private investors via a public offering. The MTR was officially listed on the Hong Kong Stock Exchange on 5th October 2005. In December 2007 an HKSAR decision was made to centralise and consolidate all train services in Hong Kong and as a result the Government owned KCR was merged with the MTR Corporation, which was a major milestone in the MTR’s history. The MTR now operates 9 main commuter lines. It also operates a Light Rail network serves the local communities of Tuen Mun and Yuen Long, and Airport Express providing the fastest connections to Hong Kong International Airport and AsiaWorld-Expo. Carrying more than 4 million passengers every weekday, operating a 19 hours a day service. The MTR has 1,698 train cars which run on 218.2 kilometres of track at a maximum speed of between 80 to 135 kph (Average Speed 33-80 kph). To date the MTR has completed developments at 29 MTR stations, generating 78,581 housing units and 1.7 million square metres of commercial space, which consists of 12 shopping malls and 5 office buildings all of which have all been built over major MTR stations.

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

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In 2010 the MTR turnover was HK$29,518 million with an operating margin of 26.3% (after depreciation, amortization and variable annual payment arising from the Rail Merger) and a debt to Equity ratio of 12:8.

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There are 5 new extension lines currently under construction or planning, which are all expected to be completed between 2014 – 2020, as follows: 1. 2. 3. 4.

West Island Line South Island Line (East) Kwun Tong Line Extension Guangzhou Shenzhen Hong Kong Express Rail Link 5. Shatin to Central Link Dr Glenn Frommer, the Chief Sustainable Development Manager of the MTR Corporation, gave a presentation entitled “Projects Environmental Initiatives, Mitigation and Adaptation to Climate Change”. He firstly advised a current update on the 5 new rail line projects as well as explaining MTR’s adaptation to change. In this context he explained the general background of the MTR’s attitude to risk and how risk is

managed. Dr Glenn Frommer also advised of the growing importance of controlling and managing Carbon Emissions, which is of major concern, and as a result this topic was covered in some depth. The MTR is responsible for 1.178 million tonnes of CO2 equivalent emissions per year of which 77% emanates from railway operations whilst 23% emanates from “Civil Structures”. Due to fossil fuel shortages, the cost of electricity will rise over the next years, which has been factored into the overall Risk Management strategy, including the possibility of the HKSAR Government imposing a Carbon Tax. The MTR’s forward planning and risk management system has enabled the Corporation to be well prepared for these and possible natural disasters occurring. This presentation was followed by Ms Catherine Leung, Manager-Environmental Engineering of the Environmental Engineering section in Technical Engineering Service, who informed us about the development of Environmental Engineering in MTR. This section started with 3 staff and now has a complement of 13, indicating how seriously MTR takes the monitoring and management of environmental issues. After these presentations the tour of the depot began, this is one of 9 depots in Hong Kong and is the ﬁrst depot to have been commissioned. The Depot itself is located beneath the Podium of Telford Garden with the total area of 166,900 m2. We were advised that Security and Safety was of paramount importance and most participants were seen to be walking inside the security of the well marked yellow lines! The whole maintenance area was toured, including, bogey maintenance, wheel grinding/ balancing, A/C reconditioning, train washing, noise mitigation measures etc. There were a total of 8 full length trains in the depot in various stages of the maintenance process. The climax of the Britcham Depot tour was to ride in a totally empty train in order to see how the train washing system operated, which is not dissimilar to a car wash, although on a much bigger scale! One of the last items on the tour agenda was to inspect a water purifying system. All contaminated waste water from the depot area is processed by this plant in order to separate the oil, grease and waste. The water is then treated to the correct “pH” level, before being flushed into Kowloon Bay’s main drainage network. The overall impression of this MTR Depot Tour was very positive. All the workshops were clean and tidy, the engineers/staff were all uniformed and appeared well equipped with modern testing and maintenance equipment. However one surprise was that very little noise was being generated, which one would have expected from such a large maintenance area. T h i s w a s b o t h a v e r y i m p re s s i v e a n d reassuring visit. We can safely report that the 4 million Hong Kong citizens, who use the MTR on a daily basis are in good hands! A vote of thanks goes to the MTR Team led by Dr Glenn Frommer as well as Mr Rick Morse of the Britcham Environmental Committee for the introduction and the Britcham staff for organizing a very interesting and well organized visit. D ecem b er 2011 • Vol 26 • N o 11

LIFESTYLE

Christmas

Lunch Wines

With the festive season quickly approaching one’s mind inevitably turns towards the epicurean delights of Christmas lunch. Here, Geordie Wills from Berry Bros. & Rudd makes some vinous suggestions to ensure that your big meal is a cracker.

what is the most popular Christmas starter? A quick impromptu survey of Berrys’

So red wine fans must select a wine with low tannins; this might be an old wine (tannins

staff revealed that smoked salmon was by far and away the most popular. Smoked

precipitate out with age) or a wine made with a variety naturally low in tannins. Another

salmon is a medium-bodied food with unique smoked fish flavours and an oily texture.

reason for avoiding tannic reds is that often the bird is covered with bacon to stop it drying

Matching the weight is easy, but matching the ﬂavour is much harder as there are no wines

out during cooking, but this adds salt to the dish and salt and tannins clash.

that taste like smoked ﬁsh! Plus there is the oily texture to consider. So now you’ve grasped all that, here’s the rub! The most powerful ﬂavours are usually found To deal with oil and fat in food you need a wine with a good amount of acidity to cleanse

in the accompaniments, so these also need to be considered when choosing wine.

the palate, which is exactly what a squeeze of lemon does too. Champagne and Chablis are high in acidity and would do this job admirably; both are medium-bodied and so match

If you prefer your turkey with traditional English accompaniments (bread sauce and

the salmon’s weight.

chipolata sausages) then a full-bodied Chardonnay or white southern Rhône is a good choice for white wine lovers. Their roundness and weight will match the smooth sauce and

Christmas simply isn’t Christmas without turkey and it has been a traditional favourite

the bird’s weight. If you prefer red wine, a mature Claret would work well – aged wines have

since Victorian times in the UK. Like most poultry it is medium-weight and is not powerfully

less tannin. As wines mature they also develop secondary aromas and more often than not

ﬂavoured; it also has a low fat content which is why it has to be constantly basted whilst

begin to smell like green vegetables, so they also echo the ﬂavour of everyone’s favourite

being cooked.

Christmas vegetable, brussel sprouts.

Match its weight with a full-bodied white or a medium-full red wine, but the lack of fat means the

To ﬁnish off your meal in style, Christmas Pudding and Mince Pies are delicious with the

wine must not have too much tannin (tannins react with fatty protein molecules and will seem

similarly flavoured aged Tawny Ports which would also go very well with rich chocolate

very harsh in the absence of fat).

desserts too.

Berrys’ UKC Champagne, Grand Cru Société de Producteurs – Mailly, Champagne

HK$270

2008 Chablis, Domaine Pinson, Burgundy

HK$160

2002 Ch. Grand-Puy-Lacoste, Pauillac, Bordeaux

HK$390

2007 Ridge Chardonnay Santa Cruz, North America

HK$290

2007 Châteauneuf-du-Pape Blanc, Domaine des Sénéchaux, Southern Rhône

HK$399

Berrys’ William Pickering, 20-year-old Tawny Port, Portugal

HK$308

For more information please contact Geordie Willis, Business Development Manager, on 2110 1680 or visit the shop located in Causeway Bay: 307-308 3rd Floor, The Lee Gardens, 33 Hysan Avenue, Causeway Bay, Hong Kong Tel: 852 2907 2112

www.b ri tc ha m. c o m

Fax: 852 2907 3113

LIFESTYLE

by Lucy Jackson, Director, Lightfoot Travel (HK) Ltd

The

magic of Indonesia is often said to be best encapsulated in Bali. Its Hindu culture

BALI Places to Stay

is interwoven in the creative heritage and rituals of daily life; from the prayer offerings of

Hotel Tugu Bali, Canguu Beach

ﬂoral artistry to the Balinese dances. On a recent trip to Bali, we witnessed local people

Hotel Tugu Bali offers a truly unique slice of luxury. Bali's ﬁrst "museum boutique hotel",

learning these arts and crafts. Within the property of Amandari (where we were staying)

the resort is set in a secluded spot near a traditional Balinese ﬁshing village, yet only a

they have children from an Ubud school practicing their skills on a variety of metal gongs

15-minute drive from the buzz of Seminyak and Legian. Hotel Tugu Bali is a wonderfully

and xylophone type instruments making mystical clanging notes that ﬁll the air with a sense

romantic and peaceful retreat nestled amidst lush paddy ﬁelds near Batu Bolong Temple

of belonging. This is the charm of the Balinese, their aptitude to make you feel at one,

(one of Bali's most sacred temples), boasting its own surﬁng beach. The museum element

although learning their dances is something that perhaps I’ll never get the hang of.

of the hotel comes in the form of stunning cultural works designed to introduce guests to the heart and soul of the Indonesian people. As a result, Hotel Tugu Bali gives guests the

For a relaxing getaway I prefer Bali over many other Asian destinations and it’s so easy

opportunity to re-live the history and traditions of the Indonesian culture while enjoying all of

given the direct ﬂight routings out of Hong Kong. On the other hand, Seminyak is one of

the comforts, services, and amenities of one of Indonesia's ﬁnest luxury resorts.

the most stimulating places to stay. For new chic, Petitenget was the ‘in’ place for me this summer! Food is certainly a major factor in my enjoyment of a holiday, so Sarong’s decadent

W Retreat & Spa Bali, Seminyak

Eurasian ﬂavours worked a treat, and Biku became a favourite over the week for high tea

Cool and slick in design, this hotel certainly has the ‘wow’ factor that W Hotels are known

and their endless supply of tempting cakes! Perhaps it was the comprehensive brunch at

for. Famous in the area for the wonderful spread of Sunday brunch, as well as the most

the W Hotel with the free ﬂowing champers which won out for food; and Potatohead was

decadent teatime chocolate treats!

the ‘in’ place for cocktails (vying with its well-known competitor of Ku De Ta just down the road). Either way, things have deﬁnitely shifted ever northwards in the cool Seminyak scene.

Karma Kandara Resort, Uluwatu Sitting on the rocky cliffs of Uluwatu, Karma Kandara elegantly combines contemporary

Moving eastwards, the island of Lombok in the archipelago is often overlooked as a

Balinese designs into its beautiful lush surroundings imbued with Mediterranean

destination due to its alluring Bali neighbour. We were lucky enough to spend 6 days

allure. Bathe under the warm tropical sun in your luxurious 2 to 4 bedroom villa residence

exploring this island with its stunning coastline in the south; from ramshackle Kuta (not to

which comes with a private inﬁnity pool and garden courtyard, or connect with nature as

be confused with over-developed Bali Kuta) to the empty beaches of Mawun and Selong

Karma spa therapists pamper you to the sweeping view of the sparkling Indian Ocean.

Belanek – white swathes of wide horseshoe shaped beaches, with little to be seen on

Indulge in Mediterranean cuisine with a touch of Bali at signature restaurant di Mare, ending

the white sands besides the colourful boats. We whiled away the day, slowly burning to

the night at the Temple Bar or Veritas Wine Bar under the breathtakingly starry skies.

a brighter shade of lobster pink, before ﬁnally packing up and heading to witness a loud celebration of a marriage ceremony parading down the streets with whole villages trailing behind! No doubt Sasak life (with their wonderful markets of fresh chillies, fruits and vegetables, interspersed with men taking a shave at the street barber) will change with the inauguration of the international airport (last month) so it’s certainly worth getting to this part of the world during the brink of its development. The north is a more sophisticated area of Lombok, with a couple of stunning and longestablished hotels, including The Oberoi with its gorgeous spa and the characterful Hotel Tugu, stuffed with a boastful collection of Javanese antiques and perhaps the most divine food I have ever tasted in Indonesia. Contending for this top culinary spot must be The Anandita villa with its enviable position on Sira Beach, complete with 15 staff ready to make up a game of volleyball at a moment’s notice, take you on bike rides around the coconut plantations or on boat trips to castaway islands for some snorkeling. This private villa experience is second to none! At half the rate and all the elegance of their Bali rivals, I’m certainly recommending families and friends travelling together to snap up these bargains for next year already. Perhaps some of my fondest memories of the trip were during a visit to the local school of Sigar Penjalin (where we handed out book supplies) as the kids rushed to greet us like celebrities – probably helped by my friend George’s rather obvious ‘David Hasselhoff’ crimson swimmers and his accompanying football. Always a winner in making international friends!

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

Amandari, Ubud Amandari provides a unique setting from which to explore the cultural richness of Ubud, Bali’s artistic centre, as well as the mountainous region to the north. Located in central Bali amidst the soft green curves of rice terraces and above the rushing water of the Ayung River, Amandari is perfectly positioned to offer guests access to both the artistic community of Ubud and the natural wonders of Bali’s interior. Thirty free-standing thatched suites, some with private plunge pools, are located on either side of the lobby, separated by andesite walkways, traditional Balinese-style gateways and private gardens. Local teak and coconut wood, as well as Javanese marble and volcanic stone, is used throughout the suites, creating cool contemporary spaces with all the warmth of a true Balinese home.

LOMBOK Places to stay Hotel Tugu Lombok Located on a pristine stretch of Sire beach, situated on the northwest coast of the island, Hotel Tugu Lombok comprises of approximately six hectares of mature palm plantations, facing the open ocean and the sunrise of Mount Rinjani (the second highest mountain of Indonesia and popular amongst adventurous hikers for its breathtaking views). Hotel Tugu stands as a monument to the forgotten history, art and romance of these ancient kingdoms, while at the same time providing ﬁrst-class luxuries and service. Neighbouring this tropical haven is a beautiful 18 hole-golf course and virgin landscapes, traditional thatched roofed huts and empty green fields where local life continues today much as it has done for centuries.

Oberoi Lombok An idyllic garden resort located on Medana Beach with sleek thatched villas and luxury facilities, the Oberoi, Lombok is set amongst acres of tropical gardens, shimmering ocean and golden sands along a private beach. With thatched-roof villas and terraced pavilions dotting 24 acres of tropical gardens it has an intimate ambience that is unique. The villas and pavilions have expansive, shaded terraces to relax in, while you look out at beautiful gardens or beaches. All the villas and terrace pavilions offer spacious bedrooms and feature local colours, textures and artefacts.

The Anandita The Anandita is a series of single-storey living and sleeping pavilions lavishly spread across the coconut covered lawns just off the beach on Lombok’s north-west coast. Its idyllic, tropical castaway-island setting is sure to leave guests with a memorable and luxurious experience. Each of the four ensuite bedrooms is housed in its own private pavilion in the gardens and complete with their signature orange sun beds, with matching umbrella, offering a peaceful spot for relaxation. Living and dining rooms are both spacious and gorgeously decorated with bold yet soothing colours and traditional art work and ﬁnishings. Complete with 15 staff such as a personal chef, housekeepers, security guards drivers and representatives, The Anandita is perfect for family holidays as well as romantic couple getaways.

Sempiak Villas A magical place perched on the hilltop of a wide stretch of beach, with an inﬁnity pool and just 3 villas to share this paradise. Fairly rustic in design the architecture blends in with the surrounding area, using the natural materials of coconut wood and local stone.

Bespoke travel company Lightfoot Travel (+852 2815 0068; www.lightfoottravel.com) is an Asia-based bespoke tour operator specialising in tailor-made holidays, honeymoons, short breaks, boutique accommodation and private villas in Asia, Australasia and Africa. Trips to Bali & Lombok start from 250USD per night for two people. D ecem b er 2011 • Vol 26 • N o 11

LIFESTYLE

Venture

Photography by Lucy Jenkins

Founded

as a franchise in 2000, Venture Photography is a

leading light in the new generation of professional

photography. Since opening its ﬁrst gallery style studio in 2000, Venture has

gone from strength to strength, expanding to 50

studios in the UK within 3 years. In 2006 Venture entered Hong Kong with a

bang, being awarded the ‘Superbrand’ status.

Since joining the Chamber earlier this year, Venture have kindly donated

table prizes and a silent auction prize for the

Breakthrough Boxing event that took place in October, but we thought

that an even better way to experience how

amazing Venture Photography really is, would be to try out their services

for ourselves!

The team and I were initially a little apprehensive on the day, with thoughts

of having to do embarrassing poses with

cheesy grins running through our minds, but as we walked into the trendy

waiting room of their Central studio all of that

faded away. We were greeted with light refreshments and were shown previous photo shoots, which we found to be exceptionally well done. Photos of families looking like they were having the time of their lives, couples with new born babies, and even a hen party group donned the walls of the studio. After we had settled in we were briefed by Venture’s photographer, Rick Reeder, on how the next hour would pan out. He had already been in touch with us all prior to the shoot to ensure we brought along props that would make for fun photos with, of course, a British theme. He was pleased to learn that we had brought a Union Jack flag, inflatable Britcham guitars, which you may recognize from the Annual Ball, and even a few copies of the one and only Britain in Hong Kong magazine! As Rick talked us through the process it was clear to see that Venture’s main goal is for their clients to have fun, let their hair down and really enjoy the whole experience. With that in mind, we made our way into the studio, kicked off our shoes and began the photo shoot. Rick’s assistant set the mood with a playlist of upbeat tunes that we jumped about to, having fun with the props, the Union Jack proving to be the most versatile. A selection of group and individual shots were taken, seemingly without any contrived posing having to be done at all. The inﬂatable guitars, in my opinion, were where we all came into our own, and with a rock anthem blaring out of the speakers, it was as if we were at a party, and as you can see, made for some great photographs. The entire experience was enjoyed immensely by all of us, we left the studio laughing and joking. It really was a team bonding excursion which I thoroughly enjoyed, resulting in fantastic photos we will cherish forever. I would highly recommend Venture’s professional yet fun services, whether you are after a family portrait or fun photos with your friends. Venture truly looks after you throughout the whole process, and even put on a slideshow of all the photos for you to choose from after the shoot, it is an experience not to be missed.

For more information on Venture Photography please visit www.venturephotography.com.hk or email Stephen Wadsworth stephenwadsworth@venturephotography.com.hk

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

MEMBERSHIP The British Chamber’s Sterling Members

Perspective Interview with Robert Morrice, Chairman & Chief Executive Asia Paciﬁc, Barclays PLC

How’s business? Good. 2011 has been as tough a year as any I’ve experienced,

team working on these issues, but I need to keep up to speed

but I’m glad to say that Barclays, having positioned itself at the

on them all.

beginning of the year for what we knew would be a challenging 12 months, has proven pretty resilient.

What are your plans for Barclays in the region in the coming year?

What’s the most exciting business-related news you’ve heard recently? I am not sure that “exciting” is the word I would use to describe what has been happening over the past few months, but

Continuing to execute for our clients. Following the earlier launch

without question what is happening in the Euro-zone markets is

of our equities business in Japan and Hong Kong, we spent a

providing everyone with a degree of “excitement” – it’s certainly

lot of 2011 putting in place our platforms in Korea, Taiwan and

got everyone’s hearts racing with the daily volatility.

India, and we'll build on those strong foundations in 2012. In Barclays Corporate our focus will be on extending the range of services we provide to MNCs in the region. We are confident that Barclays Wealth can continue to attract clients and assets under management, despite a very competitive private banking landscape in Asia.

And the biggest news recently for your industry? Investor sentiment and business sentiment in general. We have all been impacted by the uncertainty of how the US and European economies are going to perform as the year closes,

What’s the secret of Barclays’ success in Asia? It comes down to a number of factors – we “build to last” ie. we

and into 2012 and beyond; this has implications for investment banks as we determine where the business ﬂows are going to come from and ensure that we are well-positioned to capture those ﬂows.

want to be sure that we are here in good times as well as in bad, and clients tell us that that’s what they like about us; that we don’t move in and out of markets depending on which way the wind is blowing. We also allow ourselves the time when we start a new business or develop a new product to let it grow. We also hire good people.

How does the British Chamber of Commerce add value to your business? The Chamber is an important body representing the voice of British business in the local community, particularly with the HK Government and policy makers. It’s also a valuable source of

What does your work involve personally? Inevitably when you head a region of this size, a lot of my time is spent on airplanes, visiting clients, helping Barclays businesses win mandates; talking to regulators an d government ofﬁcials. In

business and commercial networking for banks such as Barclays.

How long have you been living here? 10 years.

order to run the overall business I have frequent meetings with business heads, and I chair our regional executive committee

What’s your favourite spot in Hong Kong?

which meets quarterly in person and monthly by video

Clearwater Bay.

conference. I also like to keep staff updated on key issues that impact the business, via meetings and larger group updates.

I speak at seminars, do media interviews, and I am also on

What would you say is the chief issue that you’re concerned with in Hong Kong at the moment?

the Asia advisory board of Room to Read, one of our global

Finding school places for children of ex-pat staff members.

All of these activities amount to needing to be aware on a daily basis of every aspect of our business in the region. In addition,

charity partners.

What do you ﬁnd most challenging?

Thank you for your continued support

The different regulatory frameworks in which we operate – we are in thirteen countries – require a lot of attention to make sure that we are doing the right thing in each location and it can be

Name one thing you’ve learned recently that you didn’t know before. That George W. Bush is very witty. He spoke at the recent Barclays Asia Forum we hosted in Singapore, and was highly entertaining.

challenging to keep abreast of every nuance. I have a great D ecem b er 2011 • Vol 26 • N o 11

EVENTS

Captains of Industry

Sponsor

Luncheon with Stuart Gulliver, Group Chief Executive HSBC Holdings plc & Chairman of The Hongkong and Shanghai Banking Corporation Limited On Nov 8th the Chamber was honoured to hear from Stuart Gulliver who gave a talk over lunch at the Island Shangri-La hotel. In a detailed speech, Mr. Gulliver addressed the role of the HSBC and other major banks in a time of economic uncertainty and highlighted the vital importance of risk management, ‘for individuals, ﬁrms and economies’. He explained that the world economy has become more accident prone because of an increase in speed and greater connectivity. Noting that Asia’s role is now crucial, he called for a cool-headed and more globally concerted response towards regulating ﬁnancial services in order to reduce uncertainty, protectionism and ‘regulatory arbitrage’.

Scottish Business Group Luncheon with Brian Stevenson, Chairman of the Hong Kong Jockey Club On November 17, the British Chamber’s Scottish Business Group heard from the Chairman of the Hong Kong Jockey Club, who gave members a run-down of the background of the Club and the main initiatives with which it is involved. The Jockey Club is Hong Kong’s largest taxpayer, largest private donator to charity, and its largest employer after the government. A not-for-proﬁt organisation with a mission to provide entertainment and to better conditions in the community, the Hong Kong Jockey Club has been granted a legal monopoly over betting on horse-racing in Hong Kong, and more recently on football too. Mr. Stevenson drew attention to the unique and immensely beneﬁcial nature of the partnership between the Hong Kong government and Jockey Club, while also calling for more government cooperation to provide for new challenges such as on-line betting and competition from jurisdictions with lower taxes on betting. Describing the keen interest around the world in the Hong Kong Jockey Club model, he also called for a more responsive government approach to developing agreements among betting jurisdictions, and pointed out the enormous potential revenue that lower taxes on overseas betting could bring to Hong Kong.

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

Supported by

EVENTS Upcoming Events Enhancing Land Supply Strategy through Reclamation and Rock Cavern Development The Hong Kong Club, 13/12/2011, 08:00-09:15 Speaker: Edwin Tong, Head of Civil Engineering & YC Chan, Head of Geotechnical Engineering, Civil Engineering and Development Department The Chief Executive’s policy address this year has highlighted the needs for Hong Kong to expand its land resources in order to cope with the demand for supplying 40,000 housing units per year and other developments in the coming decade. In this regard, the Government has recently launched the first stage of the public engagement on Enhancing Land Supply Strategy through reclamation outside Victoria Harbour and cavern development. The Construction Industry Group of the British Chamber has invited Mr Edwin Tong, Head of Civil Engineering Office, and YC Chan, Head of Geotechnical Engineering Office, from the Civil Engineering and Development Department, to give a presentation on this subject.

British Chamber Christmas Drinks Christmas drinks and festive food! HSBC Main Building, 13th December, 6.30pm - 8.30pm The event is hosted by Robin Phillips, Group General Manager, Co-Head of Global Banking and Head of Global Banking and Markets, Asia-Paciﬁc, HSBC. Our chosen Charity is Youth Outreach, a unique youth service in Hong Kong. The programme has eight outreaching workers who go out in vans from ten at night until six in the morning scouring the streets of Hong Kong, Kowloon and the New Territories for runaways and throwaways, particularly those under the age of eighteen.

The Reach of UK Income Tax How the proposed Statutory Residence Test (SRT) will impact you The Hong Kong Club, 14/12/2011, 08:00 - 09:15 Speaker: Stephen Green, Principal, and Peter King, Senior Manager of Deloitte Touche Tohmatsu Stephen Green and Peter King of Deloitte will be giving an interactive presentation to explore in detail the practical implications of the Statutory Residence Test (SRT) that is expected to take effect from 6 April 2012. The government response to the consultation conducted over the summer and expected draft legislation will likely confirm that the introduction of a SRT will have a significant impact on most if not all businesses that employ internationally mobile employees moving into and out of the UK. Furthermore, the SRT is likely to generate a number of issues that will need to be considered by individuals whose personal circumstances are such that they or their families spend significant amounts of time in the UK. The talk will explore the cost implications for individual taxpayers, employers and employees, and the opportunities available under the Hong Kong – UK Double Taxation Agreement to protect against an increased exposure to UK tax.

“BritCham Sustainability Showcase” From Waste Glass to Eco-Bricks: Tour of Tiostone Glass Recycling Factory 13/01/2012 - 09:30 - 13:30 (Guest registration on the corner of Johnston and Luard Road, Wanchai at 9.30 am) Speaker: Dixon Chan, TIOSTONE Environmental Limited Hong Kong generates about 150,000 tons of glass and over 10 million tons of Construction & Demolition (C&D) waste every year. As landfills in Hong Kong will be saturated in several years, there is an urgent need to find a viable way to reuse these materials to alleviate the demand on our landfills. The Chamber’s Environment Committee is organising a half day visit to TIOSTONE Environmental Limited to illustrate how glass and construction waste is recycled into paving bricks in Hong Kong. The tour will start at the glass collection point in Wanchai, followed by a tour of the glass recycling factory and end by showing you the final application of Eco-Glass Bricks.

For more information on upcoming events, please visit www.britcham.com/events

D ecem b er 2011 • Vol 26 • N o 11

NEWS/NEW APPOINTMENTS Grant Thornton global private equity report shows a turbulent global economy transforming the private equity industry

HSBC’s Chinese Manufacturing PMI shows operating conditions deteriorating at fastest rate in 32 months during November

Grant Thornton’s latest report on private equity worldwide, based on interviews with private equity professionals across the world, highlights that the private equity sector has rolled up its sleeves and now exhibits a very hands-on approach with portfolio companies. The report found that nearly half (44%) of firms now view performance improvement with portfolio companies as the main way to drive value (22% of practitioners expect to be more hands on in the future). Private equity firms are driving value by becoming involved in key management functions such as strategy (46%), financial planning (35%) and human resources (30%). However, not all private equity firms will survive these challenges. While private equity firms rarely fail and disappear overnight, a period of ruthless competition is likely to continue for some years to come. The global outlook towards fund-raising is more negative than positive (46% vs. 28%), with 13% feeling very negative. The negativity is particularly acute in developed markets including Western Europe (47% negative vs. 20% positive) and North America (48% negative vs. 26% positive).

November data from HSBC’s Purchasing Managers’ Index™ showed Chinese manufacturing sector operating conditions deteriorating at the sharpest rate since March 2009. Behind the renewed contraction of the sector were marked reductions in both production and incoming new business. The latest survey findings also showed a marked easing in price pressures, with average input costs falling for the first time in 16 months. In response, manufacturers reduced their output charges at a marked rate. Commenting on the China Manufacturing PMI™ survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said, “The November PMI final reading points to a sharp deterioration in business conditions across the Chinese manufacturing sector. Combined with a faster-than-expected easing in inflation, this implies that growth is set to overtake inflation as Beijing's top policy concern. This is likely to invite an across-the-board policy easing, which is likely to come as early as year end. That said, as easing measures filter through in the coming months, China can still achieve above 8% growth next year.”

Kellett School Starts Work on the Kowloon Bay Campus In November Kellett School, the British International School in Hong Kong, held a traditional Chinese Baisan ceremony to mark the start of work at its new Kowloon Bay campus site. The site will be home to the secondary section and a primary section (in addition to the Pok Fu Lam site). The foundation contractors (Tysan Foundation Ltd.) have now commenced work and Kellett remains on track to open its doors to Kowloon Bay's ﬁrst students in September 2013. The School was awarded the Kowloon Bay greenﬁeld site in 2009 by the Hong Kong SAR Government to develop a four form Secondary Section and additional two form Primary Section offering approximately 600 secondary and an additional 300 primary school places. By 2014 Kellett School will have completed its year on year roll out and will be a through train school.

New Appointments David Naphtali has joined the Corporate Finance practice of FTI Consulting in Asia as a senior

projects and acquisitions outside of Hong Kong, and directly manage project development -

managing director, based in Hong Kong. David will drive the transaction advisory services for

usually greenﬁeld - and acquisitions.

the ﬁrm, which includes M&A, transaction support and due diligence, valuation services, asset management/servicing, structuring advice and providing ongoing operational support. David

David Roberts, Chief Executive Officer of international architectural firm AEDAS has been

has almost two decades of experience in the ﬁnancial and advisory services industry. David has

appointed Chairman of the British Business Association of Phuket. With over 50 members and

worked in numerous Asian jurisdictions, including China, India, Japan, Singapore, Indonesia,

open to all nationalities, the BBAP helps in the exchange of business information, networking,

Vietnam and Thailand, as well as Hong Kong. As a senior member of the team at CLP, his

promoting Anglo-Thai relations, supporting selected charities, and the promotion of tourism and

main responsibilities were to coordinate the internal review process for all new development

other beneﬁcial developments in Phuket.

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/HJDO H[SHUWLVH ZKHUHYHU \RX DUH

:HŐOO VXSSRUW \RXU IDPLO\ LQ WKH 8. ō ZKHQ \RX FDQŐW EH WKHUH Moving overseas and leaving loved ones behind can be hard, but leaving elderly parents without the emotional and practical support upon which they have become reliant is distressing. At Mogers we have been helping expats who have elderly parents in the UK manage long distance care for decades. Our Concierge Service offers hands on local and practical support, such as paying bills, dealing with tax returns or ﬁnding suitable long or short-term care solutions which take away a real burden and give genuine peace of mind for everyone concerned.

To learn more about this service and how it can beneﬁt your family please contact Derwent Campbell on +44 1225 750001 or email derwentcampell@mogers.co.uk. Further details regarding all our expat services can be found on our website www.expatlaw.co.uk

MEMBER DISCOUNTS To enjoy exclusive member discounts please log onto www.britcham.com, log in and click on membership discounts. If you have forgotten your login details please email info@britcham.com to request them. Hong Kong

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ADDITIONAL

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Fulbright & Jaworski LLP

KPMG

Aedas Limited

James Rogers

Peter Wong

Becky Sun

Senior Associate

Partner

Public Relations Manager

Tel

2286 1035

Tel

Fax

2523 3857

peter.wong@kpmg.com

becky_sun@hotmail.com

jrogers@fulbright.com

8/F, Prince’s Building, 10 Chater Road

31/F, One Island East

16/F, The Hong Kong Club Building

Central, Hong Kong

18 Westlands Road, Quarry Bay

Construction Industry Group Derek Smyth Gammon Construction

3A Chater Road, Central, Hong Kong

Financial Services

Hong Kong

Education Committee Stephen Eno Baker & McKenzie

Venture Photography

(Investments) Limited

Colliers International

Stephen Wadsworth

Crisanta Lau

(Hong Kong) Ltd

General Manager

Head of Corporate Communications

Robert Wilkinson

Tel

2885 6262

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2885 8828

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Central, Hong Kong

Insurance

18 Harbour Road, Wanchai, Hong Kong

Chairs of Specialist Committees Business Policy Unit Tim Peirson-Smith Executive Counsel China Committee David Watt DTZ

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 Dr. Jim Walker Asianomics Limited Logistics Committee Mark Millar M Power Associates

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PricewaterhouseCoopers

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Central, Hong Kong

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Photography

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OVERSEAS Rock The Boat Consulting Ltd

Prime Portfolio

Fraser Murray

Nick Todhunter

Managing Director

Senior Consultant

Tel

fraser@rocktheboatconsulting.com

6023 0894

0845 519 5045

Small & Medium Enterprises Committee Kate Kelly K2PR

Scotland, G2 1RW, United Kingdom

19 Des Voeux Road, Central, Hong Kong

Consultancy

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

Vision Brands Limited

Alex Hughes

Alastair Drew

PRC Vice Chancellor

Director

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2 West Regent Street, Glasgow

Tim Hay-Edie Pilot Simple Software

2822 0539

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27/F, World Wide House

Business Angel Programme Neil Orvay Asia Spa & Wellness Limited

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EVENTS

Shaken Not Stirred November 10, Manchester United Restaurant Bar Derek Ip (Santa Fe Relocation Services), Andrea Demy (AGS Four Winds), Douglas Wong (Blackﬁre Education)

Vicky Wong (J.W. Marriott Hotel Hong Kong), Patrick Kan (Carlsberg Hong Kong Ltd.)

Terry Ng (Interglobe Corporate Solutions Ltd.), David Leung (systemsGo)

Erica Tau (Sage Education Development Centre), John Johnson (The Prudential Assurance Co. Ltd.) Sam Powney (Speedﬂex Asia), Paul Waller (DB Schenker)

Matthias Kraus (DB Schenker), Lesley Ball (Mamas and Papas), Robbie Wood (DB Schenker)

Dovenia Chow (British Chamber of Commerce in Hong Kong), Jason Barker (Mamas and Papas), Mandy Cheng (British Chamber of Commerce in Hong Kong)

Mark Basford (Synco Marketing Ltd.), Leigh Mackeurtan (Concise Media Design)

November 28, The Space, Hollywood Road Philippa Symington (FTI Consulting), Nicholas Stuart (National Australia Bank), James Ley

Andrea Demy (AGS Four Winds), Kelvin Cheung (Allied Pickfords)

Christopher Hammerbeck (British Chamber of Commerce in Hong Kong), Andrea Demy (AGS Four Winds), Terry Ng (Interglobe Corporate Solutions Ltd.)

Leigh MacKeurtan (Concise Media Design), Stephen Wong (Advantage Professional)

Duncan Tong (National Australia Bank), Jonas Tam (National Australia Bank)

Tim Hay-Edie (Pilot Simple Software), Guy Fraser (Miller Heiman)

Robbie Wood (DB Schenker), David Stanton (Asia Ecological Consultants Ltd.)

Macy Au (KPMG), Danny Ho (KPMG)

Warwick Pearmund (Advantage Professional), Ben Todhunter, Cassius Taylor-Smith (Giant Communication), Nick Todhunter (Prime Portfolio)

Ceri Silk (Skeyndor Institute), Dr. Susan Jamieson (Holistic Central and Lightdoctor), Janice Williams (The Rose Partnership Ltd.)

Alexis Lee Phillips (Magnet Harlequin Asia), Stuart Northrop (Widnell Sweett), Richard Beadle (Magnet Harlequin Asia)

Gregory Brossard (Goedhuis and Co.), Dovenia Chow (British Chamber of Commerce in Hong Kong), Alison Asome (Hart Giles)

Jessica Hefes (DT Communications Ltd.), Bilal Arshad (ICC Financial)

Nicola Thompson, Tina Leggett (Renaissance College), Linda McConnell (Nomura International Limited) D ecem b er 2011 • Vol 26 • N o 11