THE COMMERCIAL/66
COURIER THE OFFICIAL BUSINESS MAGAZINE OF THE MALTA CHAMBER OF COMMERCE, ENTERPRISE AND INDUSTRY SINCE 1947
JUNE / JULY 2016
Journey through art A stylistic evolution
NEWSPAPER POST GOLD COLLABORATING PARTNERS
IN THIS ISSUE LOOKING TOWARDS THE FUTURE FOR THE NATIONAL AIRLINE / DISCOVERING LOCAL BUSINESSES’ GREEN CREDENTIALS / NEW US AMBASSADOR G. KATHLEEN HILL TALKS PRIORITIES / DESIGN TRENDS: THE NEW ECABS BOOKING OFFICE / MALTA BUSINESS BUREAU’S NEW PRESIDENT JOHN VASSALLO ON HIS PAST, PRESENT AND FUTURE / MALTA CHAMBER LEGAL ADVISER HUGH PERALTA DISCUSSES THE JUSTICE REFORM / HSBC GLOBAL HEAD OF FX STRATEGY DAVID BLOOM ON BREXIT EFFECTS ON CURRENCY / THE LATEST BUSINESS NEWS
THE COMMERCIAL/66
COURIER JUNE / JULY 2016
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103.
food trends
112. 92 INTERVIEW
12 COVER STORY
“A DELAY IN AMELIORATING THE JUDICIAL SYSTEM WILL UNDOUBTEDLY HAVE AN EFFECT ON SOCIAL AND ECONOMIC SPHERES”
A NEW BEGINNING FOR AIR MALTA Following the recent Memorandum of Understanding opening up negotiations leading to the sale of 49 per cent of Air Malta’s stake to Alitalia, Sarah Micallef discovers what lies ahead for the national carrier.
19 COVER STORY THINKING GREEN: ARE MALTESE BUSINESSES ENGAGING IN SUSTAINABLE DEVELOPMENT INITIATIVES? Martina Said speaks to the experts to find out whether Maltese companies are doing their bit for the environment, what hinders them from doing so, and whether the green agenda makes business sense.
Martina Said meets Hugh Peralta, honorary legal adviser to the Malta Chamber of Commerce, Enterprise and Industry, to discuss the development of the elusive justice reform.
78. 78 DESIGN TRENDS
97 INTERVIEW
AN UNEXPECTED ELEGANCE
“STERLING WILL GO DOWN IF WE LEAVE, AND BOUNCE BACK IF WE REMAIN”
The new eCABS booking office has been described as an elegant beacon in otherwise chaotic surroundings. Sarah Micallef discusses the project with the firm behind its design, Valentino Architects.
84 INTERVIEW
26 INTERVIEW MALTA AND THE US: A NEW DIPLOMATIC STAGE Recently appointed US Ambassador to Malta G. Kathleen Hill talks to Jo Caruana about her hopes and plans for her time on the island, as well as for the Transatlantic Trade and Investment Partnership.
31 IN FIGURES JOBS IN MALTA… IN NUMBERS A look into the figures related to employment in Malta.
MBB’S NEXT STAGE: LOBBYING EU LEGISLATION
112 MEET THE ARTIST
Malta Business Bureau’s new president John Vassallo talks exclusively to Jo Caruana about how his dynamic career has prepared him for his new role lobbying EU legislation on behalf of Maltese industry.
Martina Said speaks to artist Monica Spiteri about her recent exhibition held at the Maltese Embassy in The Hague, her ever-evolving style, and making friends through art.
CREATING CONNECTIONS THROUGH ART
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stablished in 1947, The Commercial Courier is the official magazine of the The Malta Chamber of Commerce, Enterprise and Industry. It is the leading business magazine, having one of the best distribution channels in the sector. The publication is distributed for free to the members of the The Malta Chamber of Commerce, Enterprise and Industry. It is also distributed with The Malta Business Weekly as well as delivered to leading business people on the island.
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55.
style review
HSBC’s Global Head of FX Strategy David Bloom was recently in Malta to deliver a talk on the effects of Brexit on currency. Following his talk, the economist chats exclusively with Sarah Micallef.
Kevin J. Borg Editorial Coordinators
Tel: +356 2132 0713 info@contenthouse.com.mt www.contenthouse.com.mt
Matthew Spiteri ADVERTISING Sales EXECUTIVE
Kurt Cauchi
Design
Antoinette Micallef ant@box-design.net
ON THE COVER Detail of painting by Monica Spiteri
Malta chamber’s bronze collaborating partners JUNE / JULY 2016
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CC Editorial
Looking beyond the horizon Internationalisation has always ranked high in the priorities of the Malta Chamber. For the past months however, the effort in this area has been stepped up a gear or two, with unprecedented activity taking place and already reaping results.
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n January 2016 and as part of a restructuring process in the Committees and permanent staff of the Malta Chamber, the Internationalisation Committee was re-dimensioned to better accommodate the ever-changing needs of this area. Internationalisation is seen as an area that requires a constant and consistent effort to stay ahead of the curve and to offer the best opportunities to members with regards to emerging markets. The Internationalisation Desk within the Chamber was also restructured to work in tandem with the newly established Trade Malta which the Malta Chamber owns together with Government. The mission of the Desk is to provide the policy framework that results in the necessary bridge building for members to internationalise. Since its establishment in 2006, through the Desk, the Chamber has created a vast network of internationalisation
JUNE / JULY 2016
contacts with other chambers and trade promotion organisations in various countries that also led to the signing of new Memoranda of Understanding. The Internationalisation Survey – which is an ongoing survey – identifies Maltabased companies which are engaged in international activities and calls them up to conduct an interview. The data gathered indicates the countries in which the company does business, as well as the countries in which it would like to do business, and for each of these countries, the activity and sector are identified. The resulting data allows the Desk to draw accurate conclusions about the internationalisation activities of Maltese companies at a macro level, but it also allows the Desk to identify individual companies when there are contacts or activities which may be of relevance to these companies. This information is key to the formation
of potential Business Councils which are the backbone of the Internationalisation effort of the Chamber. The Councils are horizontal committees that focus on promoting business exchanges between Malta and specific countries or regions. They have proven successful in creating the necessary bridges to specific countries and regions around the world, levelling the ground for business relations in new and established markets alike. Through the Enterprise Europe Network, the Malta Chamber joined a network of partners in 59 countries around the world, which work closely with local businesses and hence know the local market very well. The EU-funded project helps SMEs internationalise through the various services that it offers including advisory support, partnering, organising company missions and brokerage events, as well as assisting in applying for EU funds and internal auditing.
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CC Editorial The Chamber has also actively led and participated in numerous international business missions, delegations and state visits with the aim to build on already existent solid relations, as well as to kindle new ones. The Chamber in the past months has in fact participated in missions to Albania, Algeria, Bulgaria, Jordan, Kosovo, Lebanon, Montenegro and Turkey. In many cases, these visits were open for businesses to join and participate in B2B events that have opened doors for collaboration with host countries. Subsequently the Chamber has also signed a number of Memoranda of Understanding with its equivalent organisations in the countries visited. These agreements aim to provide the formal structure within which the Chamber will be able to collaborate with fellow Chambers and business organisations for the benefit of Maltese businesses. The Exchange Buildings have also been buzzing with internationalisation-related activity, as members from an array of sectors have participated in numerous events from the ‘Doing business with‌’ series and other related events. These are designed to bring members closer to ambassadors, technical experts and business people from the country of interest. The Chamber is committed to sustain and promote the internationalisation of Maltese businesses and their business relations with
their countries of interest. We truly believe that this approach is reaping dividends and is in the mutual benefit of all parties involved. This is also true to the commitment the Chamber has, and which is stated in
its Economic Vision for Malta 2014-2020, in favour of a long-term economic policy that positions Malta as a global hub for business and investment leading to increased prosperity. cc
CC COVER STORY
A new beginning for Air Malta Following months of negotiations with various airlines, Government recently announced that a Memorandum of Understanding has been signed which will open up negotiations leading to the sale of 49 per cent of Air Malta’s stake to Alitalia. Sarah Micallef speaks to Tourism Minister Edward Zammit Lewis, Shadow Minister for Economic Affairs Claudio Grech, former Air Malta Chairman Louis Farrugia, and Ian Fitzpatrick of the Malta Chamber Tourism Section to find out what lies ahead for the national carrier.
Photo by William Attard McCarthy / Air Malta © viewingmalta.com
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ccording to Tourism Minister Edward Zammit Lewis, the announced Memorandum of Understanding is just the first step in a long process for selecting a strategic partner for Air Malta. “The MOU between Government, Air Malta and Alitalia can potentially open the door to a 49 per cent acquisition by Alitalia, but although we are pleased that we have arrived at this stage of the process, we are also aware of the fact that there is still a long way to go before a final deal is sealed and endorsed by all parties,” he explains, adding that a detailed business plan is currently being defined which will outline how the proposed model of the planned partnership will work, following which all parties will evaluate and decide whether to proceed. Shadow Minister for Economic Affairs Claudio Grech notes that the Opposition is open-minded towards the proposal of a strategic partnership, and is of the belief 12
that there are significant benefits in having a closer strategic alignment with a major international airline. Having said this, he affirms, “we believe that the strategic partnership does not necessarily need to provide for the transfer of practically half of the airline and that the focus of the partnership should be more on the technical and procurement areas of the company.” In fact, he continues, “in Parliament, the Opposition requested more information from Government in connection with the level of investment expected to be injected by Alitalia, especially within the context of the financing challenges that the company faces.” Meanwhile, Ian Fitzpatrick, Chairperson of the Tourism Business Section within the Malta Chamber asserts that the Chamber welcomes developments relating to Air Malta and its strategic partnership with Alitalia, maintaining that the Chamber has
always underlined the strategic importance of Air Malta to the country’s economy, not least the tourism sector. “Other sectors such as manufacturing, among others, are completely reliant on timely and reliable supply of components and raw materials for their competitive operation. Thus, the national airline plays a pivotal role in this equation,” he explains. Speaking of the proposed partnership, Mr Fitzpatrick attests that there are concerns among tourism operators which still require clarification in order to safeguard the industry – the main concern revolving around the prospect of Air Malta being used as a feeder airline for Alitalia, which would not help incoming tourism in Malta. “Government needs to allay any fears that Air Malta’s seat capacity would be taken up by passengers transiting via Malta and feeding into Alitalia routes rather than bringing tourists to Malta,” he states. JUNE / JULY 2016
CC COVER STORY While acknowledging the fact that Air Malta has, in the past few years, managed to reduce its losses substantially, Dr Zammit Lewis maintains that Government’s vision is not for the short-term, and will not be satisfied with a break-even position in the airline’s finances. “We want to see beyond, by ensuring sustainability and profitability for Air Malta in the longer term. It is the current commercial airline and aviation market and trends that dictate this, as the airline needs funds for ongoing investment in its product. Otherwise, we will always be speaking of restructuring plans for the short-term, and that is clearly a recipe for eventual failure,” he states. The Tourism Minister goes on to add that as the airline industry consolidates itself, “it will be practically impossible for Air Malta to attain profitability objectives as a standalone airline, having to compete with airlines that enjoy economies of scale.” For this reason, he argues, “it is imperative that Air Malta too is able to benefit from such economies of scale
that being part of a bigger family will bring about immediately, allowing it to reduce prices and fares while increasing market share.” Conversely, attesting the fact that the improvement in the operating results came about as a result of multiple restructuring efforts undertaken by various governments over the last decade, Mr Grech anticipates that the airline will sustain the trend in the improvement of its financial results, potentially realising operating profits going forward. For this reason, he says, “we believe that Government should strongly consider seeking local public investment to strengthen the capital base of the company rather than divesting itself of practically half the airline. Moreover, a stronger participation (even by way of equity) by the workforce will invariably lead to a stronger alignment of the goals of the shareholder(s), the company and the employees, hence contributing to an accelerated path towards long-term profitability.”
“Air Malta needs to transform itself into a profitable airline to remain a strategic asset for our tourism industry, which is experiencing unprecedented growth in the last few years.” Tourism Minister, Edward Zammit Lewis
“Another implication is that this will increase certain flights to determinate places which suit the Alitalia strategy at the detriment of other routes. At the same time, flights in and out of a number of destinations would need to pass through Italian airports before reaching Malta or the final outward destination,” he adds. Going on to point out that Alitalia has “a long history of problematic minor issues which are predominantly union-related,” and which he fears may be inherited by our local scenario, Mr Fitzpatrick states that the Chamber is eager to learn more about the overall strategy of the group. The airline should end the current financial year with a loss of €4 million, down from €16 million the previous year. Given the marked improvement, I question, would the airline have been able to achieve its target of bringing its finances back in the black moving forward, without privatising half the airline? JUNE / JULY 2016
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CC COVER STORY Meanwhile, former Air Malta Chairman Louis Farrugia declares himself as having been in favour of a strategic partner solution for the airline when he was Chairman, but laments, “if the Malta Government retains majority control as well as a management role, it is difficult to see how a corporate culture to accommodate change can be established.” Mr Farrugia believes that “the way forward is to allow a commercially driven culture to take the reins along with a state interest to safeguard Malta’s strategic interest of ensuring that key routes are serviced and so on.” So what does the Tourism Minister feel is in the future for the national airline? “Air Malta needs to transform itself into a profitable airline to remain a strategic asset for our tourism industry, which is experiencing unprecedented growth in the last few years. I also want Air Malta to grow as a relevant regional player, and we are aware that is also possible should the strategic partnership eventually be confirmed,” he says. The Shadow Minister, meanwhile, maintains that there is no doubt that the airline industry is increasingly becoming globally challenging and characterised by fierce competition, adding that the onset of low-cost carriers has disrupted the traditional legacy models pushing for faster and shorter industry restructuring. “We believe that Air Malta should be a primary beneficiary and not a victim of the growing tourism market, hence making it ripe for growth, network expansion and attractive as an investment case.
“We believe that Air Malta should be a primary beneficiary and not a victim of the growing tourism market, hence making it ripe for growth, network expansion and attractive as an investment case.” Shadow Minister for Economic Affairs, Claudio Grech
Photo by Kurt Arrigo, Air Malta © viewingmalta.com
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JUNE / JULY 2016
CC COVER STORY
“The way forward is to allow a commercially driven culture to take the reins along with a state interest to safeguard Malta’s strategic interest of ensuring that key routes are serviced and so on.” Former Air Malta Chairman, Louis Farrugia
Air Malta has an enormous value for our country’s economy and its guaranteed connectivity, making it an entity that cannot be merely considered for its financial posture but also for its long-term strategic function,” he maintains. The question hence becomes – will the Alitalia deal, if implemented, impact the local tourism sector? Dr Edward Zammit Lewis is adamant that a deal which will not also benefit the local tourism sector is definitely of no interest to Government. “At this stage, we need to wait for the business plan to have the numbers and other relevant details in hand, but again I want to make it clear that our ultimate objective is to ensure that our national airline grows, becomes profitable in the long term and also becomes more relevant in the market while contributing further to our flourishing tourism sector.”
On the part of the Opposition, Mr Grech maintains that the hope is that any decision taken is one which keeps the airline moving forward. “The company ill-affords avoidable lulls which fuel uncertainty and an extended wait-state of sorts. The way forward needs to be chartered in a way that strikes a
balance between the future of the airline, the common interest of the tourism industry and the well-being of the workforce. As an Opposition, we shall be vigilant to ensure that Air Malta’s relevance is not diluted and that any change will bring forth opportunities for it to grow and not to shrink,” he concludes. Lastly, on behalf of the Tourism Business Section, Mr Fitzpatrick states that the Chamber recognises the efforts and results of the difficult restructuring process to bring the airline’s finances back in the black, yet points out that challenges of competitiveness remain real, and these require further improvements in order to achieve complete viability. “The Chamber calls on all parties involved to put the national interest and long-term interest of the airline as a foremost priority of all considerations in this sensitive matter of utmost long-term economic importance,” he says, declaring that this strategic partnership is being regarded as a new beginning for Air Malta. “This is indeed the first in a long process that the Malta Chamber hopes will come to a successful conclusion leading to a more stable future for the national airline, in which Air Malta will find its place in the international aviation scene.” cc
“This is indeed the first in a long process that the Malta Chamber hopes will come to a successful conclusion leading to a more stable future for the national airline, in which Air Malta will find its place in the international aviation scene.” Chairperson of the Malta Chamber Tourism Section, Ian Fitzpatrick JUNE / JULY 2016
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CC COVER STORY
Thinking green: Are Maltese businesses engaging in sustainable development initiatives? Martina Said speaks to the experts to find out whether Maltese companies are doing their bit for the environment, what hinders them from doing so, and whether the green agenda makes business sense.
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usinesses’ commitment towards the environment is increasing,” says Anton Borg, president of the Malta Chamber of Commerce, Enterprise and Industry. “Until a few years ago, most companies embarked on sustainable initiatives and investment for image and Corporate Social Responsibility (CSR) reasons. However, companies are realising the serious potential for sustainable initiatives to improve a company’s financial bottom line. Therefore, Chief Financial Officers are recognising the potential gains resulting in increased commitment to sustainable business.” While it remains questionable whether or not Malta will reach its renewable energy
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targets by 2020 as stipulated in the EU Renewable Energy Directive, businesses appear to be somewhat more aware of their responsibility towards the environment. However, there are exceptions. Mr Borg asserts that companies’ efforts to carry out sustainable business depends a lot on the industry and nature of the company. “Most large, local companies have invested heavily in sustainable growth, which goes to show their commitment towards achieving Malta’s energy and resource targets as well as the well-being of society in general. Companies in cut-throat industries tend to be in a more rigid position, and do not have the flexibility to carry out such forms of investments unless they get a fast return,
most times within a few months.” He adds that, post-EU membership, such areas as waste management, air quality, energy and water management have been highly regulated by the EU. “Lack of awareness, information and education always play a part in the widespread adoption of sustainable business, however, this is everincreasingly less the case, and the Chamber, particularly the Energy and Environment Committee within the Chamber, constantly endeavours to proliferate sustainable business.” Helga Ellul, chairperson of CORE, the national CSR platform launched by H.E. Marie Louise Coleiro Preca last year, believes that, until recently, the local business community 19
CC COVER STORY
“Most large, local companies have invested heavily in sustainable growth, which goes to show their commitment towards achieving Malta’s energy and resource targets.” Malta Chamber President, Anton Borg perceived the environment or green agenda as a cost or act of goodwill rather than a part of its whole business plan. “However, in recent years, there have been a number of initiatives and awareness programmes directed at changing this attitude. Companies need to understand that a green agenda makes business sense.” Ms Ellul says that the element of waste is the biggest factor to consider when running a business successfully, including waste of time, materials, energy, water and more. “All these are cost drivers and if businesses look into the best ways to be cost-effective through alternative energy options (namely photovoltaic panels), recycled water and smarter packaging in order to eliminate materials which cannot be recycled, they stand to be more competitive.” As Chairperson of CORE, Ms Ellul says that businesses need to see that sustainable development is part and parcel of CSR. “At 20
CORE platform, and through our membership with CSR Europe, we are aware that many businesses throughout Europe have adopted sustainable development and environment goals well ahead of Malta. However, we are committed to bringing this agenda more to the forefront.” On companies’ efforts to recycle, the Chamber president says that companies tend to need a slight push or incentive. “Malta’s traditional businesses have been established for a number of years and until recently, particularly prior to the implementation of the EU’s energy and waste management targets, did not pay too much attention to recycling and operating in the most efficient and environmentally-friendly manner. In the last decade, companies have become increasingly committed to recycling due to a number of EU regulations and frameworks in place that oblige and incentivise businesses to do so.”
As for Malta’s production of energy from renewable sources, which is the second lowest among EU member states, Mr Borg asserts “unfortunately, Malta has a limited carrying capacity when it comes to the generation of energy from renewable energy sources. Our limited territorial size and lack of investment in this sector prior to 2008 left Malta in the undesirable position of being last in the generation of energy from renewable energy sources among all member states. Nevertheless, it must be pointed out that, although Malta is still lagging behind the EU average, the country registered notable progress since joining the EU. In 2004, 0.1 per cent of the island’s energy was generated from renewable energy sources while the latest available figures show that Malta registered 4.7 per cent in 2014. That rate should continue to rise until our target of 10 per cent of gross final consumption generated from renewable energy sources by 2020 is reached.” Ing. Mario Schembri, Managing Director of AIS Group, of which AIS Environment forms part, asserts that the environmental business sector is driven by legislation and JUNE / JULY 2016
CC COVER STORY regulations, and these policy drivers aim to influence the modus operandi of public and private organisations, leading towards more sustainable behaviour and the betterment of society as a whole. “Environmental NonGovernmental Organisations (ENGOs), whose self-proclaimed role is the protection of the environment from any harmful man-made activities, tend to oppose most developments and active industrial operations. On the other hand, many private sector investors and operators see complying with environmental requirements as costly and lengthy processes that seemingly add little to the bottom line. It is little wonder that anything to do with the environment tends to be misunderstood, mistrusted by the public and potentially very expensive to implement. “With a better-informed customer, attitudes are changing. As good business examples surface together with the not-sogood ones, serving as markers of how not to do things, there is growing understanding that it does make good business sense to engage environmental consultants early at the conception stage of a project,” says Ing. Schembri. “Investors and industrialists are realising that any activity labelled as being detrimental to the public risks commercial failure and loss of business. On this aspect, I would say that the Maltese business community’s awareness is growing.” For many years, AIS Environment has provided expert advice on the right way to develop new projects and how to operate them in a sustainable manner. Many of the early projects undertaken by AIS were firsts for Malta, including the engineered landfills that allowed the closure of Maghtab and the setting up of three strategically located treatment plants that brought an end to the dumping of raw sewage into the open sea. AIS Environment is also behind the setting up of the GreenPak Cooperative Society, which is today providing door-to-door waste recycling services to over 70 per cent of Malta’s households. Ing. Schembri adds that, while there’s been a greater initiative to place the interest of the environment higher up on the national agenda, having the right policy in place is not enough. “What is lacking is proper enforcement. In the last decade, there has been a noticeable effort of policy implementation but it is not yet thorough and far-reaching enough.” Chamber President Anton Borg believes that financial incentives – which have been made available on a number of occasions – continue to emerge as the only viable way forward in order for businesses to give more importance to sustainable development. “Certain traditional sectors which have a higher impact on the environment and are heavy users of natural resources such as construction, manufacturing and tourism will need to renew their business model as JUNE / JULY 2016
“Investors and industrialists are realising that any activity labelled as being detrimental to the public, risks commercial failure and loss of business.” AIS Group Managing Director, Ing. Mario Schembri resources become scarcer. This, in turn, will require the Government to intervene through fiscal or financial assistance in order for these companies to remain competitive.” Mr Borg adds that adopting and implementing sustainable development strategies and business models makes overall commercial sense for companies. “The EU has recently launched the concept of a circular economy which is a business model that requires producers, consumers and traders to change their models to lower the negative impacts on the environment and health,” he explains. “It entails reductions in the use of fossil fuels, raw materials, water and land, and ensuing pollutants. This can be achieved by mapping processes
through material flow analysis, reducing and optimising where necessary, improvement in the design of a product and/or process though eco-design, and analysis of the lifecycle of a product and supply chain by addressing the weak points and therefore becoming resource-efficient operators.” One non-profitable association that is seeking to positively influence the environmental standing of the Maltese islands is Eco French Malta, set up as a result of the concerns for the islands of the French community in Malta. “Instead of complaining about a country where the French are welcome, we’ve thought about how French entrepreneurs could take positive action on the land where they are now living,” says 23
CC COVER STORY
“Companies need to understand that a green agenda makes business sense.” CORE Chairperson, Helga Ellul Pierre-Emmanuel Crépin, head of industry and energy for Eco French Malta. “Members of Eco French hail from different backgrounds, but our common factor is that we have been touched by European ecologic awareness born in the 70s. We’ve been influenced by the ecologic processes implemented in France, Germany and Belgium, and we know what mistakes to avoid.” While Eco French is still a young association, its goal is to generate a long-term action plan and support global, national and local initiatives. On Malta’s tourism industry, Mr Crépin says that one factor that makes Malta immensely attractive is the quality of life it offers to its visitors. “It is no longer possible to only focus on the betterment of Valletta. Malta is a Mediterranean pearl and, because of what’s happening in the Middle East, tourists are looking for new, safer sunny destinations. Tourists are staying longer in Malta and so seek to explore the islands more deeply. Therefore, it is no longer realistic to hide the dust under the carpet. There are a lot of potential ecologically sustainable projects to develop and to protect Malta and its beauty.” “Malta will soon be assuming the European presidency, and during that period, the COP22 in Morocco will be organised, where ecology is
expected to be a major issue,” concludes Mr Crépin. “The Government has a big impact, but the environment belongs to everyone. Supporting companies that are implementing environmentally sustainable processes will
force others to follow suit. Eco French has no legitimacy to offer advice on Government policy; we can only support and propose ideas. This is a Maltese challenge first and foremost, and we are ready to help.” cc
“The Government has a big impact, but the environment belongs to everyone.” Eco French Malta Head of Industry and Energy, Pierre-Emmanuel Crépin
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CC INTERVIEW
Malta and the US: A new diplomatic stage Since her appointment as Ambassador to Malta in January this year, G. Kathleen Hill has worked on improving Malta’s already-strong relationship with the United States. Here she talks to Jo Caruana about her hopes and plans for her time on the island, as well as for the Transatlantic Trade and Investment Partnership.
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mbassador G. Kathleen Hill was sworn in as Ambassador to Malta by Secretary John Kerry in January this year, marking another new step in the island’s diplomatic relationship with the States – a relationship that has been strong for several decades. For Ambassador Hill, this marks her latest step in a dynamic career that has seen her based everywhere from Washington to Canada and Sarajevo to Uzbekistan. Hers has been an exciting journey thus far, and she is now thrilled to have taken up office in Malta. “My first exposure in diplomacy was during the war in Bosnia,” Ambassador Hill explains, adding that she joined the US Foreign Service in 1994, and has been with the State Department ever since. “There I worked alongside US diplomat Richard Holbrooke, who was negotiating the peace agreement for the region at a very crucial time. Since then, I have also served in Central Asia, and then in Italy at one point too.” Most recently, however, Ambassador Hill worked for the Middle East Bureau in Washington. In fact, she found herself exposed to Malta during the first revolution of the Arab Spring in 2011. “Many of our people were evacuated to Malta, so I quickly became quite familiar with it,” she says. “I find the whole region to be very exciting.” Ambassador Hill describes Malta’s relationship with the US as ‘extremely strong’. “We’ve been working with Malta on a lot of issues,” she says. “The island has been a key point of support; we still work very closely with Malta in Libya and have a strong relationship on the
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economic front too.” Admittedly, she says that Malta is not a huge market for her home country, but stresses that there are American companies that have been active on the island for many years. “Beyond that, Malta and the US have shared numerous common values, including when it comes to LGBT rights. “As we move forward I believe we can achieve so much together. In fact, one of my goals is to continue improving our relationship. I see this as a valuable investment for both of our nations. As security issues continue to threaten us, Malta is a vital colleague. In addition, other focus will be put on creating programmes for different sectors, and also on combatting people trafficking in the region.” Speaking about her personal goals for her time here, Ambassador Hill says she will be dedicated to being a good representative of the United States. “Our country’s main image on the world scene is through TV and Hollywood. Yes, it’s glitzy and titillating but that’s not all of America – and it certainly isn’t wholly representative of our country. I’m from Colorado, which is in the west, so I’d like aspects of that part of America’s personality to shine through too. “Additionally, I grew up nowhere near an ocean; I had mountains and learnt to ski – but seeing the sea everyday is still an exciting prospect for me. Now I want to get the other Americans who work at the embassy out there, to showcase the fact that we’re all from the States but that we have different backgrounds. I think it’s
important to highlight how diverse America really is.” Of course, all eyes are currently on the United States as the race for the next American president continues to be run. “It’s already been a very tumultuous election year; although if you look at elections in the past, they would have seemed the same way,” continues Ambassador Hill. “Things will start moving quickly now, and both the Republicans and Democrats will have their big conventions soon. We will also see the drafting of the party platform. After that, there will be three months of very aggressive campaigning to come, and I think it’s safe to say it could get a little nasty; at least the media is speculating that it will. “At this stage it’s very hard to predict what a win on either side would mean. The candidates have a significant say on the building of a platform. I think there will be a change in focus – as always happens – but the same issues (such as national and international security, and the economy) will always be important. Whatever happens and whoever is President, I doubt it will affect our relationship with Malta; we have a strong connection and I don’t see that changing significantly.” Meanwhile, Ambassador Hill is also keeping a close eye on the many issues that could affect the local and American economies, as well as the global economy. “I believe the focus needs to be on creating a stable environment, which comes from maintaining security and safety. We all need to work together, whether that’s to ensure adequate human rights, to protect our environment, or to reduce climate change. JUNE / JULY 2016
CC INTERVIEW
Photos by Inigo Taylor
“Whatever happens and whoever is President, I doubt it will affect the United States’ relationship with Malta; we have a strong relationship and I don’t see that changing.”
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CC INTERVIEW
“I see the benefits [of the Transatlantic Trade and Investment Partnership] for both sides of the Atlantic, and for both small and large businesses. I hope that its implementation is something we can look forward to in the years to come.”
“Similarly, migrant issues will certainly remain at the top of the agenda. I recently read that around 60 million people are moving around the world every single day – that’s a very significant number and one that we cannot ignore!” Finally, Ambassador Hill is quick to stress the importance of engaging more and more with the Transatlantic Trade and Investment Partnership, and what this could mean for both the EU and the US. “This agreement is terribly needed and would bring our trade agreement into the 21st century. I see its benefits for both sides of the Atlantic, and for both small and large businesses. I hope that its implementation is something we can look forward to in the years to come,” she concludes. cc
CC in figures
IN Figures
Jobs in Malta
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the average number out of every 100 persons aged between 15 to 64 who are employed.
14.1% 53.6% the percentage of people who are self-employed.
the percentage of women aged 20-64 who are in paid employment. Malta has the biggest workforce gender gap in Europe.
4.7% â‚Ź16,882 27,425 the unemployment rate in Malta, which is the third-lowest in Europe.
5%
the percentage of people with disabilities who hold jobs.
the average annual basic salary of employees in 2015.
the number of registered foreigners working in Malta.
30.7% 780%
the majority of employed men who work in wholesale and retail trade, transportation and storage, accommodation and food services.
the increase in Italian nationals working in Malta since December 2008. Italians now make up the biggest cohort of foreign workers.
the rate of graduates from post-secondary institutions who manage to find employment.
the majority of employed women, who are employed in public administration, defence, education, health and social work.
the number of Filipinos working in Malta, making them the largest group of non-EU nationals employed.
Source: Malta International Airport JUNE / JULY 2016
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Sources: European Commission, Eurostat, ETC, NSO
91% 40.6% 1,275
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Taking your property to auction If you’re thinking of buying or selling property, you may want to consider going to auction. Here, Jo Caruana talks to RE/MAX Director Jeff Buttigieg to discover the many benefits of this dynamic new sales option.
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he tense back and forth of the bidding. The determined knock of the gavel. The final decree of ‘sold’ that signifies there’s a new owner in town… auctions have long been one of the most exciting ways to buy and sell everything from antiques to yachts. And now, for the first time in Malta, a licensed auctioneer will also be selling real estate – with RE/MAX at the helm, and providing unparalleled industry experience. “Until now, the sale of property by auction has been synonymous with distressed properties involved in loan foreclosures and inherited real estate that the heirs couldn’t agree on,” says RE/MAX director Jeff Buttigieg. “That’s all set to change, as what we have created is an innovative platform that brings buyers and sellers together in a professional way, and under the guidance of the licensed auctioneer. It is a new concept in many ways, and one we believe the local market will respond to very well.” In the United States, real estate auctioning has been standard since the 1980s. It has since also become a robust industry throughout Europe. “At this stage we’re proud to be bringing something special to the market, whether for residential or commercial properties,” continues Mr Buttigieg. “To begin with, we have teamed up with the auctioneer of one of the most renowned auction houses in
Malta – Obelisk Auctioneers and Valuers.” From Obelisk’s perspective, the project is being led by its Managing Director Pierre Grech Pillow, who has been in the auction business for over a decade. “He has established Obelisk as the leading auction house in Malta, and we are thus thrilled to be working with him on this very particular auction project too,” Mr Buttigieg goes on. Both RE/MAX and Obelisk believe this to be the cusp of a new stage in Malta’s property development, as most residential and commercial properties are saleable by auction and the benefits are endless – both for the seller and the buyer. Benefits to the seller “One of the most significant benefits of selling at auction is that the price of the property is set so that the seller is guaranteed their property will sell at true market value,” Mr Buttigieg continues. “From the seller’s perspective, when your property is placed on the auction market and is given an auction date, buyers will then come to the auction prepared to make a purchase. In fact, if they express interest in a home, they will even be able to come with a bank draft in hand to cover the 10 per cent deposit of the purchase price. This moves things along very quickly.” On another note, Mr Buttigieg explains that, once you have signed up for auction, your property is surveyed and RE/MAX’s in-
house notary completes the searches of the home ahead of time, so as not to hinder the smooth selling of the property once interest is shown. This means that all the paperwork is completed before the auction. On top of that, all buyers are pre-qualified and will have viewed the property prior to the auction, so they can be certain that they want to bid on it. “This means that the seller can feel comfortable in the knowledge they won’t be involved in any negotiations, while their property will only be sold once it reaches a pre-agreed reserve price. This keeps them in control as they won’t get less than the price they have in mind.” Finally when it comes to benefits for the seller, RE/MAX will also be putting its marketing expertise behind each property that goes to auction. “Our marketing package will deliver numerous potential leads and interest, not to mention great visibility. This will ensure a pipeline of bidders for your property,” Mr Buttigieg explains. Benefits to the buyer Of course there are also many reasons why a purchaser would want to consider buying at auction.
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Auction Manager Jeremy Borg Grech with RE/MAX directors Kevin and Jeff Buttigieg
“We have created an innovative platform that brings buyers and sellers together in a professional way, and under the guidance of the licenced auctioneer.”
Buyers that are interested in a property for sale at auction already know that the vendor is committed to selling, without the worry of haggling and discussing various issues that could come up during the negotiations process. In fact, the auctioneers ensure that all terms and conditions are set ahead of time, so that the only thing left to do once the auction is complete is the signing of the promise of sale. “Competition in the auction room is also fairly set,” Mr Buttigieg goes on, “with a level playing field created for all interested parties. Thus, a buyer can feel more comfortable and will not have to worry about any potential disadvantages that they may be open to. In fact, the buyer determines the price they want to pay for the property and, if they are out-bid, they have the option to increase their offer or not. This is one of the benefits of having a licensed auctioneer managing the bidding process.” JUNE / JULY 2016
Beyond all that, the buyer also knows the timings related to the closing of a sale beforehand, so they can make plans and set parameters. “This reduces delays and makes everything even simpler,” Mr Buttigieg stresses. Let’s bid! Now that RE/MAX has officially launched this innovative and effective property initiative, it is available to all sellers and buyers alike. “If you are a seller, your RE/MAX agents are trained to manage the process and refer you to Auction Manager Jeremy Borg Grech, who will then inspect your property and review its potential,” Mr Buttigieg says. Then, if the property in question matches the ideal criteria set out, your property will be recommended for sale by auction. Buyers will subsequently be invited to property viewings and, once they are interested in purchasing the home, will be provided the
knowledge needed to make an informed decision as to whether to wait for the auction or to submit an offer prior to the auction date. “RE/MAX Auctions is committed to excellence and will hold at least four auctions per year, with a minimum of 15 to 30 properties up for sale each time. This selection will be exclusive, thus bringing something different to the market too,” Mr Buttigieg continues. “As always at RE/MAX, we are driven by our determination to offer our clients as many different, viable options as possible – and our auctions will do exactly that. This is an opportunity for those who are serious about selling and those that are serious about buying to find a new avenue for mutual success. We believe that property auctioning will be the perfect match for the property market in Malta,” he adds. cc
The next RE/MAX Auction will take place on the 23rd June at the Portomaso Suite, Hilton Malta. For more information visit the dedicated RE/MAX Auction website http://auctions.remax-malta.com 33
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Foreign exchange trading provider FXDD Malta provides access to the spot foreign exchange market through proprietary and third-party trading software. Accounts Manager David Poveda discusses with Marie-Claire Grima the company’s European growth and development, creating a reputable brand, and helping clients reach their full potential.
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XDirectDealer, also known as FXDD, provides individual and institutional traders with top-rated Forex trading software. This gives them access to the spot foreign exchange market through trading solutions including desktop, mobile, web and professional FX trading software, which allows them to gain the edge that they need when carrying out trades in the highly competitive online currency markets. “We tailor Forex trading systems for all types of traders, including retail and institutional foreign exchange customers ranging from individual and corporate traders, hedge funds and money managers to white labels, and introducing brokers. We are revolutionary thinkers in trading who have set the trend in Forex by delivering new technologies backed by world-class support for individual and institutional traders,” says accounts manager David Poveda. “With over 12 years of experience we are very confident in our product and multitude of trading platforms we offer. For example, we have commission-based products tailored to professional clients with very tight spreads ranging about 0.1 – 0.3 pips in normal markets. We are also the first broker to feature RoboX, which is probably the first robo-advisor platform in the Forex and CFD markets.” FXDD provides traders with a wide plurality of options. “We offer the possibility of choosing your most suitable and preferred trading platform. You can choose different price models; ultra-low spreads with commissions or low spreads with no commission. Our clients can trade Forex,
Photo by Alan Carville
A slice of the pie
Metals, Index or Vanilla Options. You can receive signals directly to your platform, and you can work with two platforms at the same time on the same device. Our pricing is tradable with high-speed execution and a high fill that makes us unbeatable in the market,” says Mr Poveda. The company also provides personalised service to its customers depending on their needs. “We are always ready to give our clients support, to answer their questions and to work closely with them in order to provide them with all the necessary tools for an optimal trading experience,” Mr Poveda says. “Our devoted customer service department caters for all accounts with dedicated representatives for each account holder, regardless of size. We also offer support in more than 13 languages around the clock.” Although FXDD was founded in New York in 2002, Malta proved to be the perfect location for the company to continue to expand its offshore European operations, and a separate entity – FXDD Malta – regulated by the MFSA, was founded in 2010. “FXDD quickly realised the importance of being a global player. One of our strategies is to grow in Europe, where it’s crucial to have a presence and equally important to meet EU regulations,” says Mr Poveda. “Our main focus is to continue to increase and develop our presence in Europe. With major regulatory changes on the horizon this will definitely be a challenging and interesting development for the company. Malta is a perfect location to build a good number of clients across European countries.”
“We are revolutionary thinkers in trading who have set the trend in Forex by delivering new technologies backed by world-class support for individual and institutional traders.” 34
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“Our main focus is to continue to increase and develop our presence in Europe. With major regulatory changes on the horizon this will definitely be a challenging and interesting development for the company. Malta is a perfect location in order to build a good number of clients across European countries.” “Today Malta is a very well-known reputable financial jurisdiction within the EU. Our clients feel safe and protected by EU regulation. They understand that we have to be compliant with investment service providers’ rules and deploy sophisticated processes and adequate control procedures. FXDD Malta is a Category 3 licence holder, which authorises us to provide any investment service and to hold and control clients’ money or customers’ assets. This allows us to offer trust and safety to our clients. On the other hand, Malta still offers some tax benefits. We also have great banking relationships with local banks that make our operations even more efficient and reliable.” As an accounts manager, Mr Poveda’s main focus is on Spain and Italy. “One of the toughest challenges for me was to create a brand with a good reputation that people in these countries could trust. Due to the EU’s new regulatory regime, we have had to be very careful to make sure we were prepared for the new rules that are to be put in place. We are always looking to ensure that we have the correct regulatory framework to ensure our clients’ protection and adopt upgrades where necessary. “One of my proudest moments came about after I acknowledged the potential of a client I had met in Spain a few years back. None of our competitors in the FX market even gave them the time of day. Since we met, we have worked very closely with them in order to develop their business model and create a structure that will help them to grow and reach their goals. Today this customer is one of FXDD’s biggest and most valuable clients. “Our company motto is ‘Your Money, Empowered’. I truly believe that with some knowledge and practice, everyone can have a slice of the pie.” cc JUNE / JULY 2016
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Vision and growth A good leader always has one eye firmly fixed on the future while carefully managing the present situation. Marie-Claire Grima speaks to eight heads of business to see how far their companies have come, what their most recent achievements have been and what they’re preparing for in the years ahead.
ETIENNE BONELLO DUPUIS, DIRECTOR, CREEK DEVELOPMENTS
MICHAEL DEBONO, CEO, DCONSULTA
CHRISTABELLE BORG, FINANCIAL CONTROLLER, V&C GROUP
CHRISTOPHER BUSUTTIL DELBRIDGE, MANAGING DIRECTOR, EVOLVE
FABIO MUSCAT, CEO, OZOGROUP JUNE / JULY 2016
MARK VELLA, CCO, MALTAPOST
JESMOND PACE, MANAGING DIRECTOR, FACT GROUP
MARK AQUILINA, MANAGING PARTNER, NOUV MT 37
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MICHAEL DEBONO CEO, DCONSULTA How has DConsulta evolved from its beginnings? I decided to set up my own accounting firm back in 2001 when, after a span of years working in different economic sectors in the area of financial control, I decided it was time to venture out on my own whilst at the same time concluding my MBA degree studies which had gone astray due to work commitments. DConsulta started as a one-man-band, with me as the founder literally working from my office at home, accompanied by our house cat! At the beginning I started offering my services mainly to foreign-owned manufacturing firms in the south of Malta. The company has grown over the years, and today it is one of only a few husband and wife-owned accountancy firms on the island. What major milestones have been achieved in the past year? In the past year we have launched a brand new website – www.dconsulta.eu – using the now trademarked ‘dconsulta’ brand. We have also increased our social media presence via LinkedIn, Facebook and Twitter, a development which I feel is hugely important for accountancy and consultancy firms targeting both the local market and foreign investors, like ours. We are also using our dUpdate Blog to inform and give our opinion on developments in areas which we have a professional interest in, thus creating a twoway dialogue with clients, stakeholders and people out there.
What goals are you currently working to achieve? The main goals of the firm are to sustain growth by ensuring a good mix of service offerings that relate to the more traditional offering associated with accountancy firms, such as accounting, direct and indirect tax compliance and advisory, as well as company service provision, with consultancy services relating to assisting companies in achieving their growth endeavours, and also the tapping of EU funds. We view our service offering as a way of ensuring that DConsulta is there to support the growth endeavours of our clients.
Where do you see the company in five years’ time? I would like to see an expanded version of DConsulta possibly offering new specialised services in VAT advisory especially in crossborder scenarios, whilst strengthening our internal systems and structures, and widening our networks both locally and internationally. This will allow us to achieve our overarching aim of DConsulta being the best support for the growth endeavours of current and future clientele.
“In the last couple of years we have acted as financial managers and auditors for a number of cross-border projects and this was a very interesting experience for us.”
What’s the main challenge facing the company now? Keeping abreast of developments is always a challenge as well as finding and forming the right blend of staff. However, we do feel that the dearth of local EU funding opportunities under the new 2014-2020 EU Programme has been the topmost challenge. Yet, this means that the interest in tapping EU funds will now grow exponentially in the coming months and years, and we are fully prepared to tackle this after having used this time window to strengthen our links, networks and expertise in the area. In the last couple of years we have acted as financial managers and auditors for a number of cross-border projects and this was a very interesting experience for us.
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MARK VELLA CCO, MALTAPOST How would you describe MaltaPost’s growth trajectory? The company commenced trading on 1st May 1998 and took over the operations of the former Posts Department through a licence issued by the Postmaster General. Since Malta’s entry into the European Union, substantial changes have taken place in the legislative regime regulating postal services in Malta. As from 1st January 2013, the market has been fully liberalised, enabling other entities to provide postal services also falling under the scope of the universal service. While traditional mail has been on the decrease year on year, we have experienced the phenomenon of online shopping which has increased the number of parcels and the need for swift delivery of items, particularly for businesses. MaltaPost has been proactive towards this and has adapted its services to welcome this shift in the market. MaltaPost has also diversified its services to meet the demand of its business clients by providing document management solutions from storage and archiving of physical and electronic data to the scanning of documents and, where required, the destruction of paper records.
What’s the main challenge facing the company now? The main challenge is clearly the declining numbers in traditional mail but we have counteracted this by embarking on new areas of businesses such as leaner logistical services, document management as well as specific products directed to businesses’ and online shoppers’ needs. This diversification strategy of the company’s product and service portfolio is the most effective response to counter the impact of declining mail volumes in the traditional postal market. What goals are you currently working to achieve? The company seeks to continue identifying the trends in the market and to tune its services to accommodate these needs. We will soon launch a very interesting product
which seeks to offer more efficient and convenient pick-up options for consumers and businesses alike. We are also looking into providing further opportunities for small local businesses to promote and sell their products abroad, and this should boost the local e-commerce effort. Where do you see the company in five years’ time? Overall, we seek to continue offering solutions to connect people from one location and another, irrespective of their geographical location. Providing solutions for consumers and business customers, MaltaPost strives to be a market leader in the provision of e-commerce and logistical services. We will continue to offer solutions for online shoppers, e-sellers and businesses through ancillary services which will support the function of local businesses.
“The company seeks to continue identifying the trends in the market and to tune its services to accommodate these needs.”
What major milestones have been achieved in the past year? Throughout this year, MaltaPost continued to increase its SendOn hubs abroad to offer solutions for those online shoppers seeking to purchase items which are not shipped directly to Malta. We set up hubs in the USA as well as started offering the delivery of heavy and bulky items through new hubs in Germany, Italy and the UK. MaltaPost also continued to strengthen its Document Management services which are specifically designed to allow businesses to focus on their core competences and business priorities by providing for all archival, retrieval, digitisation and, where required, the destruction of paper records. MaltaPost’s Document Management Services operate within stringent quality standards and this year continued to strengthen these standards by gaining a MSA EN ISO 9001:2008 certification. We also continued to strengthen our CSR involvement with the general public and also through partnership with MCAST, offering a course in Postal Logistics for those interested in pursuing a career at MaltaPost.
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FABIO MUSCAT CEO, OZOGROUP How has OzoGroup developed since its establishment? We have always focused on increasing our investment in technology, training our employees through our own OzoAcademy and making sure that the product we offer is commensurate with our goodwill, experience and expertise. We have managed to increase our footprint by offering more services like OzoSecurity, which is licensed with the police and offers the services of trained and licensed private security guards. Furthermore, OzoCare, our latest service, allows people with special needs, the elderly and others suffering from dementia or other lifestyle-hindering conditions to continue their daily routine, resulting in a healthier life and less stress from having to change their lifestyle. The services will be provided in the patients’ homes or in hospitals. At present we are diversifying our business into other sectors, one of them being the manufacturing of a high-profile domestic and commercial detergent company operating locally. We are also executing our vision to invest in foreign markets by taking this new company to another level, mainly by exporting to Europe and North Africa as an established franchise. What’s OzoGroup’s biggest asset? The biggest assets of OzoGroup are our employees who provide the services to our clients. We are proud of the diversity of our workforce and have a strong track record of 42
providing equal opportunities and treating people in a fair, open and honest manner. We have over 1,200 trained and dedicated employees from Malta, the Middle East, the Eastern bloc, and Asia. We are also the first Maltese company to encourage the largest employee union to reach out to our staff and recruit members. The management is fully committed to having a 100 per cent recruitment rate, which is a first for this kind of initiative in Malta.
“We have over 1,200 trained and dedicated employees from Malta, the Middle East, the Eastern bloc, and Asia.”
What goals are you currently working to achieve? We are very lucky to be working on a 99 per cent customer retention rate, and our cleaning and hospitality company OzoMalta already services 75-80 per cent of the HORECA trade. We have also expanded to Gozo with OzoGozo which covers our cleaning services on the sister island. We will be creating another 300-500 jobs in the next three years within our Group, solidifying our position as a market leader. We also plan to franchise certain sectors of our company in Europe and explore foreign markets within the manufacturing sector to start exporting goods. Our diversity in various industries lets us offer a varied portfolio for different businesses, allowing us to keep at the forefront of competing companies. OzoGroup is in the process of investing in a new €3 million premises to continue the growth of the business and facilities for its clients.
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ETIENNE BONELLO DUPUIS DIRECTOR, CREEK DEVELOPMENTS
How has Creek Developments evolved since it was established? In January 2011, Creek Developments Plc took over a marina blessed with a fantastic, naturally sheltered location, but which was in dire need of modernisation. The company has since invested in excess of €9 million in a comprehensive upgrade of the marina infrastructure and facilities. With a focus on quality of service, heavy investment in human resources has also been of key importance. What major milestones have been achieved in the past year? During the past year the company purchased beautiful new premises closer to the pontoons, with offices, clubhouse and onsite showers and toilets, making for a more welcoming and enjoyable experience. Another major milestone was to network the pedestals, offering the unique option to our clients of being able to check, monitor and top-up electricity and water credit online in real time.
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What’s the main challenge facing the company now? I prefer to see this as an opportunity – Malta is growing in importance as both a yachting destination and as a reputable port of registry. It is in the interest of all industry stakeholders to ensure that we meet and exceed high standards of quality and service as the yachting market expands.
“It is in the interest of all industry stakeholders to ensure that we meet and exceed high standards of quality and service as the yachting market expands.”
What goals are you currently working to achieve? The company has been upgrading and innovating continuously over the past years; now it is time to fine-tune and ensure that we build on this strong foundation, to maintain and extend our lead as the marina of choice for the leisure yachting market in Malta. Where do you see the company in five years’ time? Continuing to work to innovate and anticipate trends to provide our clientele with the products and service that they have every right to expect.
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at Aurobindo Ltd in Hal Far. However, the last year also saw the introduction of our new Salesforce CRM system – a real case of business transformation through technology.
“Our last five years of continuous growth have been characterised by exponential increases in key target acquisitions.”
What’s the main challenge facing the company now? One of our greatest challenges is ensuring that all the investment we make be it in personnel, infrastructure and the key jobs we take on, works for us and yields results. Changing the hard work to bottom-line profits in a sustainable manner through increased efficiency in every aspect of our business operation. What goals are you currently working to achieve? Our business is very much capital expenditure driven. The whole organisation would greatly benefit from a stable continuous consumable baseline, be it goods or services. We are also working on the introduction of completely new techniques to Malta in the healthcare and scientific arena which would greatly benefit all end-users, be they lab analysts or patients. These are obviously commercially sensitive so I will limit myself to stating that to do this we have already invested a big amount of money and time in overseas specialised training courses for our highly-qualified personnel. We also give a lot to the local scientific community, including our traditional quarterly Customer Education Seminars entirely free of charge, where we fly in an expert on the subject matter, wine and dine our guests for a whole day and communicate as much information as possible in an interesting and interactive manner. It is only natural therefore, that we expect to continue in our growth path at an even steeper pace than ever before. We are ready for it.
CHRISTOPHER BUSUTTIL DELBRIDGE MANAGING DIRECTOR, EVOLVE How would you describe Evolve’s path to growth? Evolve, established in 2006, existed as a department within the Attard & Co. Group for the last 50 years, following a natural organic growth with the then-major supplier of Attard & Co – Agfa Gaevert. When Agfa moved into healthcare, so did Attard. Much later, many more brands were added. However, it was in the last 20 years that the Medical & Scientific Equipment & Supplies Department, now known as Evolve Ltd and spun off as a subsidiary company, really took form. Evolve is now a major service provider to any type of quality-controlled laboratory, employing various professionals from the 46
field. As per our mother company’s motto, we are ‘Rooted in Tradition, Inspired by Innovation.’ What major milestones have been achieved in the past year? Our last five years of continuous growth have been characterised by exponential increases in key target acquisitions. Our objectives range from infrastructural, such as becoming the first local ISO:9001 operator in the scientific and healthcare market, to pure business, such as successfully completing the design, installation and almost complete outfitting of one of the largest GMP pharmaceutical batch release labs in Europe
Where do you see the company in five years’ time? Our eyes are firmly set on becoming a regional player, as compared to local. Without abandoning what we have gained and built over many years in Malta, and without compromising on the level of service we offer to our loyal customers locally, we will focus our energies overseas. Evolve needs larger projects, the likes of which have become too few and far between in Malta alone. Over the last three years we have already started some international partnerships with manufacturers (such as Koettermann, the largest steel lab furniture manufacturer in Europe), and service providers (such as MAT – Medical Air Technology, for complete testing and validation of clean areas such as operating theatres). We will keep on setting ourselves apart as a reliable and reputable regional service provider for specialised services in both the scientific as well as healthcare environments. In our future, less is more. JUNE / JULY 2016
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MARK AQUILINA MANAGING PARTNER, NOUV MT How has the company evolved from its beginnings? NOUV MT are certified public accountants and auditors and licensed company service providers. The firm, set up in 2008 by Mark A. Aquilina, initially provided traditional accounting services and business advisory to micro, small and medium enterprises, especially startups. The following years resulted in the simultaneous growth of both NOUV MT’s initial clients and of the firm itself. The firm’s growth and increasingly diverse client base resulted in the introduction of Advisory Partner Tonio Farrugia and Audit Partner James Ellul. Today we are proud to say that our firm offers a wide range of services which include company incorporation, ongoing back office support and regulatory compliance (provided by NOUV MT Corporate Ltd); accounting, business advisory and tax services (provided by NOUV MT Advisory Ltd); audit and assurance (provided by NOUV MT Audit Ltd). Our clients range from international companies wishing to set-up or relocate their business to Malta to helping local businesses’ management in making and implementing financial, strategic, operational and organisational decisions. Also following TGS membership, NOUV MT underwent a rebranding exercise to reflect the firm’s status and ambition. We aim to launch the new NOUV MT website in the coming months. The website will include a resource page offering articles, videos, webinars, tools, checklists, workshop, presentations and surveys, to assist family businesses in managing their businesses. What major milestones have been achieved in the past year? One of the major milestones was achieved in April 2015, when NOUV MT became an independent member of TGS Global, an international network of professional business advisors. TGS is a dynamic global accountancy and legal network of independent companies specialising in the provision of accounting, audit, tax, business advisory and commercial legal services. Currently operating with 47 members from 43 countries, the network’s global footprint is expanding rapidly. What’s the main challenge facing the company now? Finding people, with the right ‘NOUV MT’ attitude! We go beyond supplying what is traditionally expected from an accountancy firm or a corporate service provider, we aim to form an integral part of our clients’ organisation providing value added in our services. JUNE / JULY 2016
“TGS is a dynamic global accountancy and legal network of independent companies specialising in the provision of accounting, audit, tax, business advisory and commercial legal services.”
We have a NOUV MT pledge that people sign, but it’s a case of working out which people will actually follow that as opposed to just telling you what you want to hear in an interview. What goals are you currently working to achieve? Our current goals are twofold – first, that of continuing our growth without compromising the personal attention and quality of service that our clients expect. The second goal is to to expand our portfolio of services offered to truly become a complete corporate service provider. This year we are launching a new service – that of providing professional, technical and operational support to reputable companies seeking to establish themselves in growing markets, such as Morocco, Ghana and the UAE. We also launched our corporate finance advisory arm, specialising in sourcing, recommending and obtaining alternative
means of raising capital for entrepreneurial business owners and companies. We will assist companies to optimise on their business’s appeal to investors, maximise funding options, identify and negotiate with target businesses or potential acquirers or joint ventures. Where do you see the company in five years’ time? The next five years will be key for NOUV MT. The firm needs to seek strength through improved internal knowledge management techniques, aimed at reaching new heights. We envision a firm that employs specialised advisory people, providing a range of services to small and medium enterprises, tailor-made to achieve their goals both locally and outside Malta. Our greatest satisfaction and strength has always been, and shall continue to be, derived from our direct participation in the evolution and success of our clients’ business. 49
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CHRISTABELLE BORG FINANCIAL CONTROLLER, V&C GROUP How would you describe V&C’s path to growth? The company started off when two extremely hard-working brothers, Vincent and Charles Borg, sought to make their dream of forming a construction company come true. Through persistence, diligence and perseverance they managed to work two full-time jobs whilst completing small projects, which then led them to quit their other jobs, recruiting their first employee and focusing on small-scale projects. As time progressed, they started tendering for medium-scale national projects and major ones too, including the majority of the significant works at SmartCity Malta, the Family Park in Marsascala, the Life Science Centre in San Gwann, CA Site Luqa and the Coast Road to name but a few. This resulted in the recruitment of several labourers, mechanics and professionals in this line of work, as well as a hefty investment in the most efficient, effective and environmentallyfriendly equipment and machinery. Throughout the years, profits were ploughed back into the company, allowing them to delve into the development sector, and they have invested in various properties around Malta and Gozo. V&C Contractors Ltd and V&C Developments Ltd now form part of a chain of companies which fall under V&C Group. In the development sector, V&C Group have invested in a number of major developments in Malta, working in partnership with other established development and investment companies on the island. This Group of companies is extending itself in other commercial areas, with several projects in the pipeline. What is the main challenge facing the company now? The challenges the company is facing are competition especially with foreign companies seeking to invest in Malta, which I believe to be healthy to a certain extent; however this may lead to price-cutting, leaving the company with a lower profit margin. Another challenge is juggling our time between the companies the Group forms part of, and allocating equal amounts of time and effort to each one. What goals are you currently working to achieve? The company is currently undergoing a few changes with respect to policies. Currently the business sector in Malta is booming due 50
“Currently the business sector in Malta is booming due to our favourable laws which are steering us towards globalisation.” to our favourable laws which are steering us towards globalisation, so we are also working to achieve, to the best of our ability, partnership with foreign companies that are willing to invest in our beautiful country. We are working on two projects, which if they turn out to be successful, will be beneficial for tourism and Maltese society as a whole.
Where do you see the company in five years’ time? Working sustainably in the present will lead to a brighter and better future for all our companies. No one can foresee or predict the future, but with the hard work and dedication we’re pouring into them today, we can hope for our companies to keep on growing at a steady pace as they have been throughout these past 24 years.
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JESMOND PACE MANAGING DIRECTOR, FACT GROUP How has FACT evolved from its beginnings? FACT Group evolved into a small boutique professional office serving accounting, tax and corporate services to a number of local and foreign clients. The relationship which we create with the clients is normally based on complete understanding of their requirements and we take all necessary steps to give them quality service in line with professional ethos, keeping objectivity and integrity as high as possible. What is the company’s greatest asset? One of the company’s greatest assets by far is our staff complement, with one of last year’s major milestones being the engagement of a tax specialist. All of FACT Group’s employees give their maximum as we work within a family-like environment. Furthermore, one of my staff members, Matthew Sapiano, was admitted as a partner in the audit practice within FACT Group. I truly felt he deserved such an important role in his career – Matthew has proven himself and has been an exemplary, loyal and hard-working employee throughout the past ten years, who will continue building on the quality services we give when we are engaged in audit work. His promotion to partner was tangible proof that
our firm provides career paths to those who aim for it and work hard in the process. The investment in our staff is something we apply consistently since it is my belief that it not only motivates employees but also guarantees that clients have the best quality service possible, hence the firm’s continued investment in this area, which ultimately benefits everyone. What’s the main challenge facing the company now? I think that since our firm operates largely in the financial industry, we are very much vulnerable to whatever can affect this sector. I consider the main challenge to be keeping up with the international pressure as a jurisdiction. I think Malta needs to continue being attractive, innovative and efficient, and that we must continue to deliver and excel in our services. We have to carry on being innovative and creative, offering not just fiscal but also managerial, administrative and corporate solutions across the board where we will continue to be cost-efficient and attract foreign interests in Malta for a long and sustainable period. The current international pressure for fiscal morality and transparent business
is a reality and Malta must stand out as a stable jurisdiction that holds strong values on these issues. Reputation risk is also another challenge which we must never undermine, particularly with the speed of digital information that is communicated across the world in seconds. This means that we cannot afford to be seen or apply substandard practices as we can easily lose out to the other jurisdictions competing with Malta. Where do you see the company in five years’ time? Keeping a good mix of portfolio of clientele is a satisfying factor which we truly enjoy having and look forward to in our deliverables. I am aiming to see my firm in the mid-tier level, where we aim to attract higher value-added clients. To achieve this we are planning strategic moves that could help us grow both organically and perhaps horizontally. I am not just seeing the growth in clientele but also anticipating a more robust set-up by adding new high-quality directors and partners who will be happy to drive the entire FACT Group forward to meet the new challenges ahead of us. cc
Photo by Darrin Zammit Lupi
“We have to carry on being innovative and creative, offering not just fiscal but also managerial, administrative and corporate solutions across the board where we will continue to be cost-efficient and attract foreign interests in Malta for a long and sustainable period.”
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STYLE
REVIEW
Office trends
www.madaboutthehouse.com
It’s out with the new and in with the old – Marie-Claire Grima takes a look at some of the freshest trends in office design, many of which draw heavy inspiration from the past. The Chesterfield sofa is an inimitable classic, but for many years it was constrained to your dad’s home office and high-end cigar bars. Not anymore. If your office needs a touch of vintage elegance, the Chesterfield’s sturdy, rolled arms and button-studded leather are just what the doctor ordered, and many designers are turning to this beast of a sofa to elevate modern offices to contemporary heritage spaces. It’s like having Sean Connery in your office all day.
01. 04. Shades of sunshine Yellow can be lively, urgent and inspiring, or soft, gentle and easy on the eyes. Whichever shade you choose, a citrusy feature wall, a cleverly-placed accent or a bright set of chairs against a neutral background will give your office a burst of vibrant energy that makes a clear statement and is just the ticket for keeping the drowsiness at bay during those long summer afternoons.
02. Black and white accents Whether you’re adopting monochrome as the main colour scheme or simply looking for a way to add a stylish touch to your office by incorporating black and white accents, it’s an incredibly chic way to transform your office. Use white to give your office a crisp finish and balance out a large number of black furniture pieces, or incorporate a statement piece with a bold black-andwhite print for a sleek 70s touch that’s been updated for the modern workspace.
Taking their cue from tailors, designers have found that an innovative and visually exciting way to bring a space together is by using brightly-coloured strands of rope. Utilising them in conjunction with other materials such as wood or concrete will help you work around the problem of feeling like you’re trapped in a large ball of yarn. These sturdy ropes can be used as a contemporary alternative to transparent partitions, a complement to traditional wooden ceiling beams or even as staircase balustrades. cc
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05. Thread lightly
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03. The workshop aesthetic A good deal of the work that happens in modern offices is intangible, and very little of it is manual, but designers are bringing the aesthetics associated with a carpenter’s or artisan’s workshop to the modern office space in order to create an authentic and creative atmosphere. From inexpensive wood panelling via reclaimed wood or strand board, to dressed-up rustic touches with colourful finishes, old materials are finding a new life and giving present-day spaces a new dimension.
ikea.com
01. The king of sofas
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Tech trends
GADGETS
04. Bluesmart luggage
Smart jewellery, a levitating speaker and a solar chargeable action camera? All that and more. 2016 is proving to be a big year for gadgets and technology, as Martina Said discovers. 01. Mira’s pendant tracker Who thought a tracking device could look so stylish? Mira is leading the way in fashionable and smart jewellery with a reputation for designing stylish and empowering technology. At this year’s world-renowned Consumer Electronics Show (CES), Mira announced two innovative designs – the Mira Vivid Wellness Bracelet and Pendant – inspired by modern minimalism. Hidden in the design is the opal, Mira’s tracker which measures steps, calories, distance and elevation, making it the perfect option for the woman who wants to keep her tracking on the down low.
02. 5-port charging station The more complex modern-day gadgets get, the shorter their battery life becomes, which is why a multi-port charging dock could prove to be a very valuable investment. This Satechi 5-port USB charging station dock allows you to charge up to five devices simultaneously via USB ports, while storing them neatly on the charging dock and without having to remove their protective cases. Perfect for the regular traveller.
03. MOXO levitating speaker
Smart technology has extended its reach to suitcases. The Bluesmart luggage links wirelessly to your smartphone, and through the Bluesmart app and network, you can track the location of your suitcase in case it gets lost, lock it remotely when necessary, as well as keep all your data and travel history in one place.
05. Prizm This sleek and smart device will settle the scores over any debate on what music to play. Prizm connects to your speakers, filters through devices in its proximity with playlists from major music-streaming services, and finds what you and your listening partner like. By comparing the playlists, it then identifies your tastes and tries to find a happy medium.
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06. Activeon Solar X This compact action camera offers a charging solution that places it in a league of its own. The Solar X comes with the X station, a quick-charger with solar flaps mounted onto its detachable charging case, enabling you to revive your camera while filming your action-packed adventures outdoors. It can obtain 70 per cent of its charge from the sun in just 30 minutes. cc
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Speakers come in various shapes and sizes these days – small enough to carry in your handbag while you’re on the move and cool enough to place centre stage in your living room at home. Now, there’s also a kind of speaker than can levitate. This Bluetooth floating speaker is especially designed to float above its base while playing your favourite songs for up to ten hours. Definitely an attention-grabber.
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NEWS Events & Initiatives
01. 01. Malta Chamber eager to influence business priorities for Malta’s EU Presidency Welcoming the President of the Employers Group within the European Economic and Social Committee (EESC) Jacek Krawczyk, on 14th April, Malta Chamber President Anton Borg outlined the Chamber’s role in determining the business priorities for Malta’s upcoming EU Presidency. Mr Krawczyk, who was accompanied by EESC Group 1 Vice-President Stefano Mallia, was visiting as part of a series of meetings with the Chamber in preparation for the events that will be organised during 2017. Mr Borg spoke about the issue of competitiveness, and said that there is a strong business consensus on the ambitious reforms needed at EU level to boost jobs and growth, supplemented by ongoing structural reforms at the domestic level. “The EU must improve the functioning of the single market, particularly in the services and digital sectors; be a stronger global player by signing more high-quality trade agreements; and take a better approach to regulation,” he said. “It is also in all our countries’ interest for the euro-zone to prosper. However, we recognise that not all member states wish to be part of a drive towards further integration, so the position of non-euro-zone countries in the wider single market should be safeguarded. The EU has shown signs of progress on reform and the Chamber has been calling on Europe’s leaders to push Europe’s competitiveness agenda for future prosperity,” the Chamber President noted. Turning to the current migration and refugee crisis, Mr Borg said that there are no quick fixes to this challenge. He stressed the need to increase efforts in integrating migrants into our society and labour market, and turn this crisis into an opportunity. “But we must remain pragmatic and realistic that Europe cannot harbour those people who wish to push radical ideas on the continent. Europe must be tough with those who do not wish to integrate and support and provide protection to those who really need it. The recent agreement with Turkey is a step in the right direction to manage this challenge in a more effective manner,” he said. JUNE / JULY 2016
Jacek Krawczyk said that the Chamber and the EESC share common values that allow the two organisations to collaborate fruitfully on a number of issues, for the benefit of Malta’s economic growth within the EU.
02. RSM Malta sign Gold Partner Support Agreement with the Malta Chamber RSM Malta and the Malta Chamber signed a Gold Partnership agreement on 20th April. The partnership is envisaged to bring together the two organisations which are different in nature, but which share a very common goal – the success and growth of businesses in Malta In his address, Anton Borg said the Chamber was pleased to join forces and associate itself with RSM Malta – a company of high international repute, and of a solid professional standing in its field. “Through the signing of this partnership, we shall be establishing a sound platform on which to start developing and carrying out a series of collaborative projects that will result in fruitful results for businesses,” he said. As part of our partnership agreement, the Chamber and RSM Malta will be collaborating on the production of a virtual SME Tool Kit on the Malta Chamber’s brand new business news portal. The tool kit will serve as a resource for SMEs in Malta and beyond, offering them professional and technical advice for their next strategic step.
The Malta Chamber recognised the efforts and results of the difficult restructuring process to bring the airline’s finances back in the black. “However, we must understand that challenges of competitiveness remain real, and these require further improvements in order to achieve complete viability,” the Malta Chamber noted. The Malta Chamber called on all parties involved to put the national interest and long-term interest of the airline as a foremost priority in all considerations in this sensitive matter of utmost long-term economic importance. In this vein, the Malta Chamber offered its help to assist in the relocation process of workers if this is at all required. The Chamber said it is confident that the current strong economic climate, coupled with the skills of the workers involved, will contribute towards a swift absorption in the labour market to the benefit of workers and private employers alike.
04. Malta Chamber launches Malta’s first business news portal The Malta Chamber launched Malta’s first business news portal on Monday, 2nd May. In an ever-changing business scenario, the Malta Chamber makes it its primary priority to stay ahead of the curve, and constantly keep tabs on where Malta’s commercial sectors are going in
03. Malta Chamber encouraged by Alitalia/Etihad partnership In a press release issued on 28th April, the Malta Chamber welcomed developments relating to Air Malta and its strategic partnership with Alitalia/Etihad. “The Malta Chamber has always underlined the strategic importance of Air Malta to our economy, not least the tourism sector. Other sectors such as manufacturing, among others, are completely reliant on timely and reliable supply of components and raw materials for their competitive operation. Thus the national airline plays a pivotal role in this equation,” the press release read.
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order to provide the best support to its current and prospective members alike. Within this context, the Malta Chamber teamed up with Content House Group and produced an unprecedented package of online products that is expected to fill a gap in Malta’s online scenario. The Malta Chamber Business Portal is the first business portal of its kind in Malta and is providing readers with business news from Malta and around the world, as well as updates about the work of the Malta Chamber. The portal is also complemented by the new business directory – Malta’s first official business directory, which is designed to be user-friendly, intuitive and interactive, making it easy for users to exploit the benefits of listings on the directory. The Malta Chamber has also launched a third product which is also enjoying very encouraging results – the revamped Chamberlink. The weekly newsletter has been redesigned to reflect the ambitious goals the Malta Chamber wants to achieve through its renewed online presence, and offer readers a quality experience, delivered directly to their inboxes.
05. Malta Chamber signs MOU with ETC, MEA to support employment of disabled persons “Persons with a disability have a lot to offer, and all efforts must be made in order for them to be integrated into employment. Any action in this regard must not be seen as an act of charity but as society’s obligation towards a more inclusive society,” said Anton Borg, President of the Malta Chamber of Commerce, Enterprise and Industry while signing a Memorandum of Understanding with ETC and MEA on 6th May.
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05. The MOU, which includes 13 points of mutual understanding, is expected to provide a solid structure within which involved parties will be able to move forward on the employment of persons with a disability. Mr Borg noted that the 1969 law which obliged businesses to employ persons with a disability did not reflect the socio-economic realities of today. This was evident since the law was never applied in so many years. For this reason, this MOU will provide the necessary structure in order to assist businesses in contributing towards a more inclusive society. The Malta Chamber welcomed the projected development of a single database that will facilitate the employment of persons with a disability.
to an increasing level of multiculturalism, which brings with it a wealth of opportunity, as well as its own challenges. In a statement to the media on behalf of the employer organisation present, Mr Borg said that businesses engaging in discriminatory activity would not be tolerated or protected. In parallel, the unions declared that every effort needed to be done for workers of all nationalities to work together in harmony and in an environment of collaboration. “Workers are workers first and foremost, and their origins should not make any difference. Any form of discrimination based on nationality or any other difference cannot and will not be tolerated,” Mr Borg concluded.
06. Integration through employment
07. Towards improved public areas in industrial parks
“All workers must be treated equally and with respect and dignity, irrelevant of their nationality or any other difference,” said Anton Borg as he addressed a press conference on the occasion of workers’ day together with the General Workers Union, Union Ħaddiema Magħqudin, GRTU, Malta Developers Association, CMTU and Forum. The press conference brought employer organisations together with unions to make one united and unequivocal statement in favour of integration through employment. Mr Borg said that 50 per cent of vacancies last year were filled with workers who were not Maltese. He further noted that more than 25,000 registered workers were foreign. This, he pointed out, gives rise
An MOU signed by the Malta Chamber of Commerce, Enterprise and Industry and Malta Industrial Parks is expected to improve the quality of public areas in industrial estates around Malta. The agreement provides for a process of devolution of funds previously administered by the MIP to Tenants Associations for the running and upkeep of the said industrial parks for the benefit of businesses that operate in the manufacturing sector and those who make use of their services. Welcoming guests present for the signing which took place on 4th May at the Exchange Buildings, Malta Chamber President Anton Borg said that the MoU was another mark of confidence from the authorities in the professional reputation of the Malta Chamber. He explained how in its Economic Vision for Malta 2014-2020 the Malta Chamber specifically recommended the establishment of such collaboration agreements between the public and private sectors that can bring about results that would otherwise not be achievable. In his address, Norman Aquilina, Chairman of the Manufacturing and Other Industries Economic Group, expressed satisfaction at the conclusion of negotiations on the MoU. He said that at its core, the MoU sets out a process of devolution of the maintenance responsibilities for the common areas within industrial estates. The MOU was signed by Mr Borg and Mr JUNE / JULY 2016
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07. Aquilina for the Malta Chamber, and Mr Tony Zahra for the Malta Industrial Parks, in the presence of Christian Cardona, Minister for the Economy, Investment and Small Business.
08. Malta Chamber calls for postponement of tourism tax In a press release the Malta Chamber said that following a number of futile attempts to engage in negotiations with Government on the matter of eco contribution, it expressed its disappointment at the refusal of Government to enter into any form of consultation on the matter. The Malta Chamber stressed a number of reservations and their impact on the tourism industry. The lack of consultation with all stakeholders meant that feedback was restricted to one association which is not representative of all the tourism industry. The Malta Chamber also argued that the de facto introduction of the eco tax on 1st June would not only create an administrative nightmare but would also have a negative commercial effect on the industry especially with those tourists coming over on prepaid packages. In conclusion, the Chamber strongly recommended Government to reconsider its position on the matter.
09. Ministry not grasping full extent of tourism tax issue In a second statement to the media on the matter, the Malta Chamber said that the Ministry was not grasping the full extent of the tourism tax issue. The Malta Chamber clarified that it had reacted to the matter immediately after the new tax was announced at the last budget, but its concerns were largely ignored. “As a result, the implementation of the tax is seriously flawed and risks damaging the experience of the tourist and the industry. The Malta Chamber shall be elaborating on the matter at the opportune time,” the press release concluded. JUNE / JULY 2016
10. Malta Chamber illustrates position on tourism tax The Malta Chamber, in representation of its members in the Tourism Business Section (including the Federated Association of Travel and Tourism Agents (FATTA), the Federation of English Language Teaching Organisations Malta (FELTOM), the Malta Association of Hospitality Executives (MAHE) and the Professional Diving Schools Association (PDSA)), illustrated its position on the matter of the proposed implementation of the tourism tax during a press conference on Tuesday 17th May. President Anton Borg said that the Malta Chamber and the afore-mentioned organisations were in favour in principle of the proposed bed-tax and the setting up of a fund to improve the tourism product. He however explained that they were opposed to the way it was being implemented, as this would bring about unnecessary burdens on the industry, and would certainly leave a bad taste with patrons, damaging Malta’s touristic product. Mr Borg said that package holiday tourists make up 44 per cent of tourist arrivals in Malta, and the tourism operators whose market is mainly package holiday tourists will be faced with situations where their fully paid up clients will be asked to pay the new tax by the accommodation provider, who is legally responsible to collect it. These tourists, who would have booked on the understanding that all their costs are covered, will not take lightly to an added expense, however small, and will in most instances refuse to pay. In such situations, rather than risk upsetting their clients and the package travel operators who booked them, the local tourism providers will end up absorbing the tax themselves.
11. Yachting Business Section announces membership to the ISS’s Association Alliance The Executive Committee of the Yachting Services Business Section within the Malta
Chamber of Commerce, Enterprise and Industry announced its membership to the Association Alliance within the International Superyacht Society (ISS). The Alliance is composed of representatives from international associations and countries including Australia, the UK, France, the Netherlands, Italy, the USA and the Isle of Man. It held its first Global Summit at the METSTRADE Marine Equipment Trade Show in Amsterdam in 2015 to discuss collaboration on global challenges facing the superyacht industry, the yacht operators and yacht crew. The summit addressed matters such as the factors limiting vessel availability for charter as well as considering ways to enhance the experience of yacht owners and guests on board. The ISS has facilitated a collaborative approach and convenes regular meetings in Europe and the USA to identify areas of common interest and to provide updates on the progress made in specific areas. The Yachting Services Business Section will be invited to attend meetings held periodically by the Alliance and to participate in the next summit being held prior to this year’s Monaco Yacht Show.
12. Malta Chamber President Anton Borg elected BUSINESSEUROPE Vice-President Malta Chamber President Anton Borg was voted Vice-President of BUSINESSEUROPE during the organisation’s General Assembly, which was held as part of its Council of Presidents meeting in The Hague on 20th May. BUSINESSEUROPE is a highly influential pan-European business organisation that is based in Brussels and represents 40 member federations from 34 countries. It is also recognised as a European Social Partner. This is the first time that a Maltese official will occupy the Vice-President post of BUSINESSEUROPE; a position that takes effect on 1st July and lasts for a term of two years. Mr Borg will mainly be involved with representation duties particularly during Malta’s EU Presidency that will commence at the start of 2017. During the Council of Presidents meeting, the Malta Chamber President made a number of interventions relating to current international challenges and European specific issues – particularly on the UK referendum, the migration crisis and SME competitiveness in the EU. On the UK referendum, Mr Borg expressed his views on the risks of a ‘leave’ outcome on business. This, he said, would have a 65
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negative impact on the UK and those EU countries that traditionally have deep trading ties with the UK, like Malta. On the migration crisis, Mr Borg claimed that now more than ever, the EU requires solidarity and to act together for the block’s common interest. Migration, he said, has the potential to increase overall GDP in the EU, but to ensure a positive impact, migrants need to be well integrated into the labour market.
13. Eco Contribution – Prohibitory Injunction The Malta Chamber representing its Tourism Business Section members, together with the Associations FELTOM, FATTA, PDSA and MAHE, filed a request for a Prohibitory Injunction against the Ministry for Sustainable Development, the Environment and Climate Change, the Ministry for Finance and the Ministry for Tourism on 30th May. The request was intended to halt the coming into force of Legal Notices 174 and
12. 175 of 20th May 2016 which establish the start of the Eco Contribution on tourist bed nights as of 1st June and also define the way the tax will be implemented. The Malta Chamber and these Associations, although in agreement with the idea of a bed-tax and a fund to finance tourism product enhancement, had communicated to Government their concerns about the potential negative impact of the method of implementation of the bed tax ever since it was announced in the 2016 Budget. The Malta Chamber believes that a proper consultation process is a non-negotiable prerequisite before any regulatory proposal becomes legislation. This requirement is
part of the Government’s own Directives and is clearly defined in the Small Business Act. The Act, which upholds the interest of the business community, made up almost entirely of small and medium enterprises, cannot be ignored and needs to be observed in full and without exceptions. The Chamber believes that it is its duty to take action to protect this legitimate right. Moreover the Chamber has every interest, as the foremost representative of the Maltese business sector, to take a stand, in principle, against the disregard for the Small Business Act, which seeks to ensure that meaningful consultation is the norm in all instances where legislation can impinge on the business operating environment.
tailored support for services and retail companies with the aim to help them innovate and grow internationally. The two-day meeting discussed challenges and strategic initiatives that are being organised in Malta and on a panEuropean level by combining international business expertise with local knowledge. The Sector Group meeting presented Network partners with a platform to stimulate the exchange of best practice and knowledge and foster innovation in traditional services and retail companies.
A visit to the Malta Life Sciences Park was also organised in an effort to promote and enhance cooperation between companies, research centres and universities.
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NEWS Internationalisation
01. EEN Services and Retail Sector Group meeting held in Malta The Malta Chamber, as part of the Enterprise Europe Network, actively participated in a Services and Retail Sector Group Meeting that was held in Malta on 14th and 15th April 2016. The Sector Group is a delegation of business experts from various countries that come together to offer
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02. Joint Maltese-Turkish Business Council meets at Malta Chamber A joint Maltese-Turkish Business Council meeting was held at the Malta Chamber on 22nd April with the aim to discuss future collaboration with the mutual aim of promoting and facilitating business between Malta and Turkey. Jak Eskinazi, Chairman of the TurkishMaltese Business Council within DEIK together with members of the Committee were welcomed by the President of the Malta Chamber, Anton Borg, Vice-President of the Malta Chamber, Tonio Casapinta, Chairman of the Maltese-Turkish Business Council within the Malta Chamber, Dr Mark Bencini, and members of the Committee. It was mutually agreed that it is important to further strengthen the existing collaboration between both countries as well as explore new areas for business. JUNE / JULY 2016
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relations between the two Chambers. The MOU, which was signed by Anton Borg for the Malta Chamber and Mohammed Laid Benamor for the Algerian Chamber, aims to help Maltese companies penetrate the Algerian market, and vice-versa. The signing took place during a business delegation organised by Trade Malta, which followed a series of visits and initiatives, designed to promote business exchanges between Malta and Algeria. The Algerian delegation comprised some 45 entrepreneurs. More than a 100 Maltese companies also participated in the largescale business to business event. Addressing the event, Malta Chamber Vice-President Frank V. Farrugia said that Malta has world class professionals and entrepreneurs who have built solid economic niches from the ground up and who are more than willing to offer their expertise and help achieve similar ambitious goals in Algeria. Economy Minister Christian Cardona said that the signing of the MOU was, “a clear sign that the efforts of the Maltese Government and the private sector, through a public private partnership like Trade Malta, are paying off.”
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05. Malta as a stepping stone for German businesses to North Africa
03. 03. Courtesy call by UAE Ambassador to Malta Chamber
04. MOU with Algerian Chamber opens road for more collaboration
The Ambassador of the United Arab Emirates to Malta, H.E. Salem Issa Alkattam Alzaabi paid a courtesy visit to the Malta Chamber of Commerce and was welcomed by the Chamber’s Vice-President Tonio Casapinta and Lina El-Nahhal from the Projects and Internationalisation Desk. During the cordial meeting, discussions focused on the importance which the Malta Chamber gives to the UAE, especially following the establishment of the Middle East Business Council in 2013, the various trade delegations that visited the region in these last three years and the possibility of attracting investment from the region to Malta. The existing cooperation with the Dubai and Abu Dhabi Chamber of Commerce was also mentioned at the meeting with the possibility of staging an event in Malta, when officials from the UAE government and their Chambers of Commerce would be promoting further opportunities for doing business between Malta and the UAE.
The Malta Chamber signed a Memorandum of Understanding with the Algerian Chamber of Commerce and Industry on 10th May, providing a formal structure to the already excellent
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Welcoming a delegation of six German MPs headed by Mechthild Rawert at the Exchange Buildings this week, Vice-President Tonio Casapinta said that Maltese and German companies were in the best position to collaborate closely, within the context of a long standing business understanding. “Malta, and our private sector, can continue providing German investment
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05. with the best support to penetrate the renewed North African business markets,” said Mr Casapinta. “This is yet another instance where Malta’s strategic location and excellent reputation outweigh its diminutive size, providing a sterling service to internationalising businesses,” he said. Malta and Germany already have a long history of trade collaboration, underlined by the tireless German Maltese Business Council, which assists and actively promotes business between the two countries by means of numerous events it organises throughout the year. The Vice-President said that such delegation visits brought to the fore the excellent reputation of the Malta Chamber, and offered an avenue for a frank exchange of views between stakeholders. The meeting was also attended by Malta Chamber Council Members Mattias Fauser and Marisa Xuereb, the German Maltese Business Council Chairman Armin Eckermann
and members of the GMBC, DG Kevin J. Borg and Head of Internationalisation and Project Lino Mintoff. The German MPs delegation was led by Mechthild Rawert MP.
06. Tunisia open for investment The Tunisian Minister of Foreign Affairs met the President and Vice-President of the Malta Chamber and spoke about major developments in Tunisia. He said that the Tunisian government was organising a major conference in November to which both the public and private sectors would be invited to attend. The conference would discuss investment and joint ventures, and would give exposure to the great opportunities for business in Tunisia. The Minister said that Tunisia was open for investment. H.E. Mr Khemaies Jhinaou was welcomed to the Malta Chamber by Anton Borg and Tonio Casapinta on 27th May. Mr Borg
thanked the Minister for taking the time to visit the Chamber. He said that a major problem for potential investors in Tunisia was the need to have a Tunisian partner with 51 per cent shareholding in order to distribute products in Tunisia. The President briefed the Minister about the Chamber’s role in the Maltese economy, the Economic Vision document as well as its participation in the Malta Business Bureau and Trade Malta. The possibility of organising a Business Forum on Tunisia was also discussed. cc
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MISCO selects TheStudentCampus Malta’s very own TheStudentCampus is taking the EdTech world by storm. In less than three months the Maltese entrepreneurs James Abela, Nikolai Sammut, Vince Ciantar and Matthew Sammut have raised €1.25 million Round One funding and kicked off their world tour which has taken the brand to all corners of the globe and has confirmed agreements with global leading universities, brands and resellers. This cutting-edge technology, renowned for its outstanding UI & UX, is a powerful combination of a learning management and virtual learning tools rolled up in one versatile, intuitive and dynamic learning solution which is positioning TheStudentCampus as one of the top 21stcentury learning tools all over the world. The philosophy behind TheStudentCampus is simple – use powerful technology to enhance learning in the case of both the academic and corporate worlds. While the international momentum continues to increase, a number of local and international enterprises and academies based in the Maltese islands are keeping on track and investing in this world-class solution. TheStudentCampus is proud to welcome MISCO to the ever-growing list of brands which have joined TheStudentCampus portfolio of clients. MISCO’s Training and Development Unit delivers management, marketing, sales and human resources among other courses to more than 2,000 people each academic term as well as companies and organisations in Europe, Gulf States and Northern Africa. The school management team was looking to invest in a learning solution which would give students and teachers the opportunity to collaborate using technology and deliver a 21st-century learning experience. Following implementation of TheStudentCampus, MISCO also took the initiative to create an online community of teachers and share resources, create their own content, learning materials and student assignments, while educators now 72
Maria Zahra, MISCO HR Consultant & James Abela, co-founder TheStudentCampus
have the opportunity to publish certificates for each module or task. Furthermore, MISCO educators can now create effective interactive content, promote collaboration, create online tests based on the official content provided, as well as extend learning outside of the classroom and design personalised learning experiences for their students. Thanks to MISCO’s recent investment the academic team can engage with students in a variety of ways such as messaging and email. Teachers and students no longer have to print thousands of pages of paper every year, and the educational entity is saving money on paper and decreasing its footprint on the environment. The investment in TheStudentCampus also inspired MISCO to start to design its own home-grown course material and this leading training centre is now looking into the e-learning business model and exploring further collaboration with TheStudentCampus. “Introducing TheStudentCampus wasn’t just about investing in a technology; it was about switching teachers’ and students’ mind-set to think about how they can use tools to make learning more effective. Our aim is to support our students throughout each and every learning journey and encourage life-long learning. TheStudentCampus is exceptional and apart from us saving time and money it is giving us the chance to deliver enriching learning experiences and take full advantage of the endless list of benefits technology brings,” says Maria Zahra, HR consultant at MISCO. “Our biggest reward is watching schools and businesses implement
“TheStudentCampus is exceptional. Apart from us saving time and money it is giving us the chance to deliver enriching learning experiences” Maria Zahra, MISCO – HR Consultant
TheStudentCampus and experiencing the great benefits it brings not just from an academic perspective but also from the financial side where enterprises are saving budgets which can now be dedicated to other areas of their business. We’ve been silently working on TheStudentCampus for the last three years and we are so proud to share our technology with the world and know that our creation is leaving its mark as one of the world’s top 21st-century learning tools of our time,” shares James Abela, co-founder of TheStudentCampus. More news, updates and releases are launched regularly on TheStudentCampus social media channels and on www.thestudentcampus.com. Companies are invited to send an email to sales@thestudentcampus.com or call TheStudentCampus Sales Team on T: 2787 2872 to schedule a personalised demo. cc
TheStudentCampus, the world’s most affordable and intuitive learning solution. JUNE / JULY 2016
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Data – The new currency The fast-paced and ever-evolving world of data has progressively taken the world by storm and become an essential component in business decision-making. The rise in importance of data and more importantly its evaluation, analysis and strategic exploitation on the business front has led to the term ‘data’ to be referred to as the ‘new currency’. Some have dared say that data is the lifeblood of a business, perhaps second only to cash-flow. Has data been overvalued or undervalued? Does a business need Big Data or Small Data? Prior to delving into the merits of the first question, it is imperative to grasp an understanding of the terminology that underpins the fundamentals of data in a bid to differentiate between Big and Small Data, and hence address the second question. Big Data encompasses a suite of technologies and approaches that an organisation can use to extract business value from data. The overarching connotations to Big Data are summarily capped under one heading – the ‘Four Vs’ – namely Volume, Velocity, Variety and Veracity. Volume refers to the scale of data which may range into Exabytes (1018 Bytes), whereas velocity refers to the speed of collating and analysing changing data, otherwise known as ‘data-in-motion’. Dataat-rest is the static data that is knowingly or unknowingly residing in an organisation. On the other hand, data-in-motion is the term used to represent data in transit. By way of example, data-in-motion includes data movements in the sentiment of subscribers over the social media or the transactional data between a Customer Relationship Management (CRM) and an Enterprise Resource Planning (ERP). Retracing the steps in our attempt to define the Four Vs, variety of data is the term used to explain the plethora of data sources that may contain structured and unstructured data. In addition, veracity of data refers to the reliability and quality of data. The growing quantity of data necessitates that its users know from where the data originated and how trustworthy it is for its intended use. Conversely, Small Data is a new term that is being used to describe the collation of data that is summarised for ease of analysis and comprehension like information collected by the Internet of Things (IOT). A relatable experience in the mundane life of health and fit-conscious individuals would be the latest wearable technology, more specifically JUNE / JULY 2016
wristbands, transmitting information about the users’ health status to their Health Insurance provider that in turn allows the provider to better manage their risk profile. For small and medium sized enterprises (SMEs), which form the backbone of Maltese enterprises, there is no scope for Exabytes of data. This can be safely argued given that experience has shown that the largest organisations in Malta deal with data only up to several Terabytes (1012 bytes). The latest school of thought holds that the initial focus lies on the relevant data; hence the emergence of the term Small Data. This thinking lends credence to the understanding that the aim is to start small and immediately realising some business value. However, the Big Data approach might prove to be a complex undertaking for several SMEs, resulting in project fatigue and the building of large data warehouses, data marts, data lakes and so forth. If data were indeed the new currency or the lifeblood of the business, then its true value must be established and nourished. The process through which this can be achieved is through the extraction of value from data, that is, analytics. In its simplest form, data analytics is a suite of technologies involving data science techniques that allows organisations to describe past behaviour, known in the data world as descriptive analytics. This type of analytics addresses questions like: Did we generate enough profit? Who are our best employees? Following this, organisations may want to pursue a diagnostic analytics exercise and answer questions using collected data such as: Why did our profits decrease? Why did we lose an important customer? Using predictive analytics an organisation can
model the data of its customers and predict risks of market share decrease or customer dissatisfaction. A retail business can, for example, anticipate customers’ trends and likings by analysing data generated through loyalty card schemes. Similarly, through data analytics, a telecommunications operator can identify individual subscribers that may potentially leave the platform in its attempt to reduce customer attrition or ‘churn’. Today, analytics is providing operators the possibility of identifying these subscribers and send them an offer before they decide to leave the platform. This process is automated and does not require human intervention. This is the power of prescriptive analytics. Real life case studies include a large car manufacturer that has used predictive analytics techniques to improve the debtor collection processes. Another innovation in this space is the use of adaptive algorithms, whereby the algorithms used change depending on the data presented. As your organisation struggles to achieve and maintain a competitive advantage, alongside the search and retention of best talent, financial performance, optimisation, position, and the identification of increased efficiencies in its logistics and operations, you are faced with a multitude of questions. It is worth evaluating the possibility that the answer to your next move is likely to be hidden in the data, somewhere. Using advanced analytics on your relevant data is the way to unleash the potential of your data. That is when data truly becomes the new currency. cc Adrian Mizzi Associate Director Advisory Services KPMG 75
CC make the headlines
Spreading the word about the BOV Jaime Financing Package Only a few months ago, Bank of Valletta launched its BOV JAIME Financing Package for SMEs. This package translates into important benefits for Maltese entrepreneurs and SMEs through reduced collateral requirement and discounted financing. However there is much more to this financing package than meets the eye. In itself, the SME Initiative is an innovative solution because it is a joint funding instrument that brings together funding resources from the EU Structural and Investment funds resources contributed by the Government, Horizon 2020 funds and EIB Group resources. The experience of Bank of Valletta in implementing various EU financial instruments together with intelligence gathered through the Brussels EU Representative Office placed Bank of Valletta as the bank of choice in the
local bidding process, where Bank of Valletta secured over 80 per cent of available funds. In a bid to explain this instrument, and how best Maltese entrepreneurs and SMEs can benefit from it, experts from the areas of SME Finance and EU affairs within Bank of Valletta have embarked on a journey to spread the word and explain what this instrument can offer local players. In this regard, the Bank is collaborating closely with constituent bodies and associations to organise workshops and conferences for their members. On these occasions, BOV speakers explain how the BOV JAIME Financing Package works, the eligibility criteria, and offer their assistance to interested parties on how to go about applying for the package. In addition, external speakers from bodies like Malta Enterprise that can make valid contributions in the context of additional funding streams
are invited to participate. Through the BOV JAIME Financing Package, Bank of Valletta is the first, and to date the only financial intermediary in Malta to provide SME financing through the SME initiative. Malta is the second member state, after Spain, to benefit from this innovative funding instrument for small and medium sized enterprises. This initiative will see Bank of Valletta assisting over 700 Maltese SMEs by providing €50 million worth of financing. cc Further information about the BOV JAIME Financing Package can be obtained from bov.com, or by contacting Bank of Valletta on T: 2275 1529. Bank of Valletta p.l.c. is a publicly limited company licenced to conduct Banking and Investment Services business by the Malta Financial Services Authority.
Two E&V Sara Grech agents land top awards Following last year’s success where two local real estate agents landed the ‘TOP’ awards for being classified amongst the best ten rental agents within the Engel & Völkers global network, this year E&V Sara Grech built upon this amazing achievement by having a sales and rental agent among the best ten E&V real estate agents in the world. Perrine Bourgeais, who was classified as the third best rental agent in 2015, has made it once again inside the TOP rental agents by finishing tenth. On the other hand, Clinton Camilleri managed to earn a truly impressive sixth place within the TOP sales agents. Being his first year in the industry, makes this achievement even more remarkable. The presentation of the awards will take place at the E&V Global event which for the first time will be held at the new Rome Market Centre this September. 76
Perrine Bourgeais and Clinton Camilleri
This event is the pinnacle of the E&V SG yearly calendar. We are firm believers of the importance of networking in our industry, and that is why our team is constantly involved in high-end activities and meetings. cc
If you are interested to learn more about the E&V SG life, or would like to form part of our team visit www.evsaragrech.com.
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CC DESIGN TRENDS
An unexpected elegance The new eCABS booking office has been described as an elegant beacon in the otherwise chaotic surroundings of Paceville’s busy streets. Sarah Micallef discusses the project with Valentino Architects – the firm behind the office’s stunning transformation.
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articularly among the young generations of revellers who regularly take to the streets of Paceville for a night on the town, the name eCABS has become synonymous with a safe and reliable way to get home when the night is through. Every weekend, hordes of teens make their way to the booking office in St Julian’s looking for a cab home, but as of a few months ago, the scene they are met with is wildly different to the shabby setting we have come to associate with taxi offices. While the neon sign remains, the eCABS booking office – the very same one that the business started out of six years ago – has been transformed into a streamlined, attractive space that you’d be glad to hang out in. The firm behind the transformation is Valentino Architects, whose fresh new design for the booking office was carried out by main contractor, Halmann Vella Ltd. Architects Peter and Sandro Valentino 78
talk me through their brief for the space, asserting that a large part of the project was aimed at challenging the negative stigma often associated with taxi services. “eCABS wanted to upgrade their image so as to appeal to both drivers and passengers. The taxi industry suffers from a bit of a stigma, and through this office, eCABS wanted to continue changing this image, and attract more people to the industry,” they explain. Speaking of the philosophy they had in mind for the new booking office, the architects refer to their inspiration, including world-famous New York nightclub Studio54, maintaining, “the context is Paceville, so we thought of the idea of a nightclub and meeting place, as well as details like neon and mirror.” As part of their research for the project, the architects paid a visit to the booking office on a weekend, which shed light on a number of issues that the design needed
Photography – Alex Attard Main Contractor – Halmann Vella Ltd
to address. “On Friday and Saturday nights, it was like a jungle: drunk people asleep outside, a broken glass door and discarded food. A big part of our brief was considering how to control everything that was happening. As a company, eCABS is all about efficiency, and for the booking office, function and durability had to take priority,” explains Sandro. “It also needed to be very efficient in so far as how the office operates. They open 24-hours a day, so how do you clean the place? You need to be able to go in and clean in 10 minutes, otherwise you’re losing business. So the design was also developed with ease of cleaning in mind,” Peter adds. Apart from function and durability, Sandro points to appeal as another core concept when it came to designing the new booking office. “It needed to appeal to people and to the industry. In fact, when the project was finished, even the drivers started looking at it JUNE / JULY 2016
CC DESIGN TRENDS
“It’s a very small space that receives a lot of people, so we needed to ensure that those people can get in and out fast, so that the process keeps going.”
with pride – they felt proud to be part of the eCABS family,” he says. The size of the office proved to be one of the biggest challenges. “It’s a very small space that receives a lot of people, so we needed to ensure that those people can get in and out fast, so that the process keeps going,” Peter maintains, adding that apart from these considerations, it also needed to look good. And look good it does. The design Valentino Architects created incorporates a canopy which extends from the façade, which is visible for people coming from different directions. The glass doors were moved inwards, creating a sheltered area outside in which people can wait for their cabs. A ramp replaced the previous step, making the office fully accessible, and a partition at the back creates access to the toilet and basement. Meanwhile, the desk is now positioned along the side of the room rather than at the back, making it visible from the outside and closer to the doors. JUNE / JULY 2016
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CC DESIGN TRENDS
“Part of the success of this project is that we had a client which trusted us but gave input when input was needed.” The material they chose to go with for the walls, floor and desk is terrazzo, which was specifically created for the project by Halmann. “They were really excited about the project because this material is generally used in tile format, and this gave them the chance to produce it differently and really show off what they can do,” says Sandro, as he explains the process. “They cast three blocks in total for this project, pressed them for three weeks and cut them to size once the press was removed.” Works on site took an impressive three weeks to complete – a strict timeframe imposed on the team by the nature of the business. “The office actually kept on running while works were ongoing. They put a desk outside and didn’t lose a single booking,” Sandro explains. In order to achieve this, the team at Valentino Architects engaged a surveyor to carry out an accurate survey of the dimensions of the office beforehand, preparing a long list of drawings of every small corner – and passed it on to the contractor. “They had accurate drawings of every piece that they were required to cut – everything pre-measured according to the survey. As soon as works started, the workers gutted everything and the terrazzo slabs came ready according to the measurements and were assembled like a jigsaw puzzle,” says Sandro. Once again, the small size of the space proved a bit of a challenge. “Once the place was gutted, and lighting and power were taken care of, the contractors started the finishes. There were up to ten people working at a time, and it was difficult because the space is so small and everyone had to work in close proximity. The electrician, plumber, plasterers, tilers, etc… all working in one room. It was quite a challenge!” Meanwhile, seating inside comes in the form of a single bench crafted out of iroko wood – a change from the architects’ original intention. “We initially proposed stools instead of a bench – this was the only thing the client asked to change from our original design. It turned out to be a very good contribution, as it looks great aesthetically and is more coherent with the quality of the space that we wanted to achieve,” Peter explains. “Part of the success of this project is that we had a client which trusted us but gave input when input was needed.” A distinctive element of the new design is the use of curves rather than corners – a feature that is as practical as it is attractive. “You don’t have a corner where dirt can collect – you just hose it down and it all goes straight down into the gutters at the 80
“There were up to ten people working at a time, and it was difficult because the space is so small and everyone had to work in close proximity. The electrician, plumber, plasterers, tilers, etc… all working in one room. It was quite a challenge!” door,” Peter maintains. As for the entrance, the broken glass door was replaced with a specifically designed glass door that opens automatically and slides away into pockets concealed in the wall. This will prevent it from suffering the same fate when things get busy at night. Asked what they consider to be the main defining features of the new eCabs booking office, Peter points to the use of materials as an important element, apart from efficiency. “The fact that the materials used are limited and honest – iroko wood, mirror and galvanized steel, apart from terrazzo – is a defining feature, as well as the fact that it
looks like it’s carved out of one object, as if it is one body.” Certainly, both agree that the effect created is a clean and honest one, maintaining that the idea is to create something which is timeless and relevant. And indeed, as leading architect Konrad Buhagiar affirms in his description of the project on Valentino Architects’ portfolio, “it was imperative that the outlet should stand out from the surrounding chaos and formal incoherence, and this it could achieve by offering, in contrast, its own purity and seamlessness. In so doing it has become an elegant beacon in the area.” cc JUNE / JULY 2016
CC Property
The business of property Whether you are interested in a commercial base for your business or looking for the perfect buy-tolet investment, Malta’s real estate industry has so much to offer. Here two of Frank Salt Real Estate’s expert managers talk Jo Caruana through the latest industry trends and opportunities.
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alta’s property market is booming. A simple glance around at the many apartment blocks, office buildings and houses currently in development highlights that property investment is at an all-time high – and now is the ideal time to consider the latest business trends and opportunities available to you. The commercial route As the island’s economy continues to be strengthened and diversified, so the need for top-quality commercial real estate has also increased. In fact, Malta has witnessed unparalleled growth in the commercial sector in the last five years. “In many current cases demand actually exceeds supply,” says Frank Salt Real Estate’s Commercial Division Manager Rita Schembri. “As always, high level, state-of-the-art offices are being sought by the increasing number of local and international corporate entities now based locally. However, we have also seen increased demand for other types of properties too, including hotels, guesthouses, high street retail, schools, childcare centres and so on.” The excellent news is that the real estate industry has reacted and responded to these demands and there are many new commercial projects currently in development. These include some high-rise buildings in Paceville, St Julian’s, Sliema, Gzira and Mriehel, as well as some land reclamation projects as per proposals received by Government. Rita explains that most of the high-rise buildings that are planned will incorporate many floors that have been earmarked for high-end offices and hotels, as well as shopping malls, leisure areas and restaurants. “High-net worth foreigners are definitely helping to sustain our expanding property market, including, to an extent, the demand for commercial property,” Rita continues. “However, it is businesses that then rent that office space, and which require opportunities within hotels, restaurants and shops. “So, while we are witnessing a high demand for luxurious office space as a safe investment that gives a decent return on investment to the owner, the demand for the leasing of these premises by new, up-andcoming businesses needs to be sustainable in the foreseeable future too.” Rita stresses that developers need to ensure that we have enough variety within 82
the market to guarantee that all sectors are catered for, thus also minimising their risk by ensuring that supply will not eventually exceed demand. “I believe Malta’s commercial sector is in a very good place at the moment; opportunities are being created and standards are being set. At Frank Salt Real Estate we regularly work with top-
end clients and continually ask them why they have chosen Malta. Their responses always highlight that their interest is genuine, largely because they are attracted to the lifestyle that we provide here. They also anticipate a sustainable growth rate and, thus, have a positive attitude towards investing in, or relocating to, Malta,” Rita adds.
“Malta’s commercial sector is in a very good place at the moment; opportunities are being created and standards are being set.”
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CC Property
Investing in buy-to-let Aside from an increase in demand for traditional commercial property, the island has also witnessed a leap in the number of people opting to buy property to rent out, whether for short or long lets. In fact, for many it has become a business in its own right. As Philippa Tabone, Frank Salt Real Estate’s Letting Manager, explains, interest in buy-to-lets has soared because people have become keen to diversify their investment portfolio by including property, which can give them an ongoing income. Clients regularly ask her about where they should invest their money; how many bedrooms are ideal for the rental market; what level of finish tenants have come to expect; and how to purchase within a development. “Sliema, St Julian’s, Gzira and Swieqi remain some of the most popular areas,” Philippa explains. “That said, some tenants have been forced out of these locations
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because prices have risen so much, so they are looking for alternatives in the north and south. Nevertheless, I believe central Malta will always be in demand, especially now that there has been so much investment in commercial developments here.” When it comes to the sort of properties that the rental market requests, Philippa stresses that we don’t have enough ‘good one-bedroom apartments’. “Good properties in this sector can rent for anything between €500 and €1,200 per month, as tenants want nice, modern properties to live in and are willing to pay for them.” However, Philippa also points out how important it is for investing landlords to keep costs in mind. “They need to be sure they’re not inflating prices based on current market conditions,” she says. “There are no guarantees for the future. “They also need to keep all expenses in mind when making their calculations. Anywhere between three to 4.5 per
cent per annum return should be realistic; anything over that is a bonus.” Philippa also recommends that those keen to purchase a property for investment purposes should speak to an experienced letting consultant ahead of making a purchase. “He or she will be able to give you a fair evaluation based on elements including layout, furnishings, facilities and so on. This will be vital if you hope to make an investment that works for you long term. At Frank Salt Real Estate we offer free rental evaluations to anyone thinking of purchasing a property, and we can provide all the advice you need if you are planning to take this exciting step towards becoming a landlord.” cc For more information about the latest commercial properties, as well as advice on buy-to-let opportunities, please contact Frank Salt Real Estate Commercial Property Division on 2379 4181 and the Letting Property Division on 2276 5000. 83
CC INTERVIEW
MBB’s next stage: Lobbying EU legislation Dr John Vassallo’s appointment as Malta Business Bureau President signals a new stage in the organisation’s development. Here, he talks exclusively to Jo Caruana about how his dynamic career has prepared him for his new role lobbying EU legislation on behalf of Maltese industry.
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the glass ceiling’ in Sweden and resigned from his post, but was then asked to represent the company in Brussels. “That marked the start of my lobbying career,” he continues. “I began lobbying on behalf of the cement industry in 1990 and have stayed in Brussels ever since. It has certainly taught me a lot about the importance of lobbying so as to protect and develop businesses and even countries.” In fact, Dr Vassallo is considered to be an expert on EU lobbying, which he has already proven since joining the MBB Board two years ago. This expertise is extremely well-founded, as Dr Vassallo was appointed Malta’s ambassador to the EU in the 90s, before the island was accepted as a member. He was an integral part of the team that helped Malta to find its feet and get its credentials together before membership. However, aside from his work with the EU directly, Dr Vassallo was also employed by General Electric in Brussels, working in a lobbying position, and, 12 years later, was head hunted by Microsoft as Vice President of EU Affairs, a role he held for eight years until his retirement. “Today I am technically retired,” he smiles. “But I am still very much involved.”
Photos by Inigo Taylor
r John Vassallo is a formidable presence. Immediately upon meeting him, it’s clear that this is a man with strong views, extensive experience and a desire to really drive European business so as to achieve success for as many people as possible. It is no wonder, therefore, that he was the ideal choice as the new president to the Malta Business Bureau (MBB). Dr Vassallo talks me through his dynamic career thus far. He is a Maltese-educated lawyer who has worked overseas for the vast majority of his working life. Having completed a literature degree locally, he moved to Amsterdam in the mid-70s to study EU law. “The concept of a unified Europe has fascinated me for as long as I can remember,” Dr Vassallo explains. “I was drawn to this ‘project for peace’; a union that had been created to unify warring countries. I was also inspired by its drive for wealth and prosperity between its then-nine members. I dreamed of being involved somehow.” Dr Vassallo went on to specialise in Swedish law and joined a Swedish multinational called Dynapac; eventually becoming president of its construction division and managing factories across Europe. A few years into that he says he ‘hit
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CC INTERVIEW
“While Malta and the MBB may be a small voice in comparison, we have found ways to use the system to our advantage.”
In fact, he has been retained by Microsoft as an advisor, and is also doing pro bono work with causes that are important to him. He has been appointed as Din L-Art Helwa’s representative on the Governing Committee of EU Funds, which questions where EU funds are going and how they are spent. Through his work at Din L-Art Helwa, he was also elected to Europa Nostra, which is the ‘Voice of Cultural Heritage in Europe’. “I am very passionate about culture, heritage and the environment,” he explains, adding that he sponsors a number of cultural organisations including the Banda San Giljan and St Paul’s Choir in Malta, and the RE Orchestra in Amsterdam. “As well as the role of industry in helping to support them, I see this kind of support as both an obligation and an opportunity for business.” The Malta Chamber of Commerce invited Dr Vassallo to join the MBB Board two years ago, and he says he took the role on with pleasure. “I quickly found that the MBB and I are a good match. After all it is Malta’s lobbying arm to Europe on behalf of so much of the private sector and that is, of course, what much of my career has been related to. Dr Vassallo looks back on the MBB’s history having three distinct phases. The first took place well before the island joined the EU, and was created to help Maltese businesses to find out what doing business in the Union was all about. “This was a familiarisation stage,” he explains. The second step covered the period right before the island joined, and went into more detail about the legislation that Maltese businesses would become subject to. “This was when it was crucial to find out how the EU would affect Malta and how we could influence it. It was the time for Malta to be present and to reach out to as many members as possible. The MBB took this stage very seriously and achieved a lot in the 12 years since we joined.” Now, though, Dr Vassallo believes the organisation is in ‘Stage Three’, which is all about reaching out to as many decisionmakers in Brussels as possible. MBB will, of course, be utilising Dr Vassallo’s vast lobbying experience to achieve this. JUNE / JULY 2016
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CC INTERVIEW “We will be using our small and able staff of five people to concentrate on the laws that will be passing through the EU and how they will affect our members’ bottom lines. We will look at each potential law and assess whether it will increase sales or costs for our members, and lobby accordingly. We also plan to assess how to make new opportunities favourable to Maltese industry and how we can best make use of them.” Since joining the MBB, Dr Vassallo and the rest of the committee have already reached out to 60 members of the European Parliament to make themselves known and to discuss key issues for Malta. This approach has certainly yielded positive results, and the organisation plans to up its outreach to 150 MEPs in the coming months. “We have seen the benefits of making contacts,” continues Dr Vassallo. “For instance, the EU was set to pass a law that all businesses – however small – would be required to employ a data protection officer. Naturally, when you consider the size of so many Maltese businesses, this would have put incredible strain on them, and we believed this needed to be addressed. Thus, we lobbied on the topic and negotiated in partnership with other small countries, and managed to have an exception included within the law for SMEs and micro organisations. This was a success for us and an achievement that we were very pleased with.” Another success so far for MBB was related to a law that would have required all food-related businesses – whether farms, cold stores, restaurants or hotels – to fund their own government compliance checks. “This time we lobbied for individual countries to be able to choose a system for themselves, thus putting the choice of who should pay for the checks in their hands and meaning that governments could still choose to fund this on the company’s behalf. Our lobbying went well and the law was passed in our favour. This proves that, while Malta and the MBB may be a small voice in comparison, we have found ways to use the system to our advantage, especially when we team up with allies like other small countries or those that share our concerns.” Looking to the future, Dr Vassallo is excited by his new role as president and eager to implement as much positive change as possible. “I believe in the power and importance of Europe, just as I did all those years ago when I first got involved. I also believe in the excellent staff, led by Joe Tanti, here at the MBB, and have been inspired by their energy and enthusiasm; together I believe we can get a lot done. “To me, Europe is a world leader when it comes to creating a better society. In my opinion, if Europe stays together, then it can continue to influence the world. However, to 86
achieve this, nation states must cooperate against nationalism and to increase prosperity. It is this that will enable us to compete on a global level.” Dr Vassallo also sees Malta’s upcoming EU presidency in 2017 as an opportunity for the island to make its mark on the Union. “Those six months will put us right where we need to be when it comes to sitting in different working groups within the highly-influential Council of Ministers. This is an opportunity we are eager to capture. At MBB we hope to help Malta to make its presidency a success, and are able to give a lot of input on this topic. In fact, we plan to double our presence in Brussels for the coming year so as to provide key services to Government and broaden our network of contacts.” As for the longer term – well beyond Dr
Vassallo’s two-year appointment – he hopes the island can look forward to becoming ever-more influential on an EU level. “We hope to implement a level of influence that we haven’t ever had, and to interact with experts who we have never even met before. We want to move among the people who write the laws that will affect our industries in the future and to create change where it is needed most. “To me, this is all very exciting. We will be taking the MBB back to its very roots and helping Maltese businesses to find new ways of finding success in the EU. We will continue to make the system work to our advantage – something that I believe will provide unparalleled benefits to our members in the years to come,” Dr Vassallo adds. cc
“We will look at each potential law and assess whether it will increase sales or costs for our members, and lobby accordingly. We also plan to assess how to make new opportunities favourable to Maltese industry and how we can best make use of them.”
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CC Technology
“In this digital era businesses should embrace digital transformation, not only to survive – but also to thrive” Photos by René Rossignaud
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n less than a year since his appointment as the new Country Manager for Microsoft Malta, Panayiotis Ioannou has started introducing a culture change within the company, driven mainly by the desire to closely partner with the Maltese Government and empower customers and partners with the leading technology to seize the vast opportunities ahead in this digital era. “The entire Microsoft team is inspired to bring its best ideas and efforts every day to build products people love, and to advance our mission to empower every person and every organisation on the planet to achieve more. And we’re seeing the impact. I feel that at Microsoft Malta, we have to reflect our mission in the way we work, in our processes and in all our personal and business interactions. And this is the mind-set with which I came to lead the Microsoft Malta team over the coming years.” Mr Ioannou, who hails from Cyprus, joined Microsoft in 2006 as a Partner Sales Lead for Cyprus and Malta, and in 2008 led the overall channel engagement for Microsoft’s partner community as the SMS&P Lead. In this digital era businesses should embrace digital transformation, not only to survive – but also to thrive. The kinds of innovations Microsoft is talking about are disruptive. Companies succeeding at digital transformation are doing four things, Mr
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Ioannou says: becoming more engaged with their customers, empowering their employees, optimising how they run their business operations and transforming the products and services they offer using digital content. Today, the team at Microsoft Malta is composed of 11 people and recently, Microsoft was also awarded one of Malta’s Best Employers by Business Leaders Malta. “When I came to Malta, I found a very dynamic and knowledgeable team. Strong professional individuals and successful in their area of expertise with room for growth both personally and as a team but to do this, they needed more support to unleash their potential even more. “Microsoft is a very ‘human’ company. It is a brand that uses technology to enhance human interactions because only when interactions are improved can we achieve more out of our potential. I look at my team the same way Microsoft looks at the world it wants to improve. As a company we fundamentally believe that we need a culture founded in a growth mind-set. It starts with a belief that everyone can grow and develop; that potential is nurtured, not predetermined; and that anyone can change their mind-set. “Over the past months, we have been closely partnering with the Government of Malta to support its strategy to become more innovative, agile and open, with a
Edward Portelli
Panayiotis Ioannou
workforce that is more empowered. Microsoft Technologies can bring in a whole new phase of digital government transformation that involves embracing technology on a much deeper level to accomplish a broad range of advanced goals. Digital government transformation is about creating a single point of entry for citizens to access government services anytime, anyplace, from any device. “We’re focusing on partner and customer success in the cloud, enabling our partners and mutual customers to harness the full value of cloud and the associated devices, data and applications to truly transform their businesses.” Jacqueline Harvey is responsible for the growth and effective management of Microsoft’s Consumer Channel Business, leading to increases in revenue and market share. Through multi-device, subscription and cloud initiatives, Ms Harvey develops end-
Chris Demicoli JUNE / JULY 2016
CC Technology to-end strategies always in alignment with distributors, partners, resellers and retailers. Microsoft is especially committed towards dedicating more holistic resources to start-ups particularly through its Microsoft Innovation Centre led by Edward Portelli. Mr Portelli works with Maltese software houses and start-ups to assist them in the use of innovative technology solutions to develop their business. He also promotes Microsoft technologies to various audiences including developers and IT professionals in the business and academic world. Microsoft is one of the main vendors contributing at an EU level on Education Transformation Frameworks. Chris Demicoli recently joined the team as Microsoft Partners in Learning Manager. “My role is to ensure close collaboration with schools and education leaders in order to promote the use of Microsoft technologies in schools and to help them maximise the investment and benefits offered to education through Microsoft’s Educational agreements.” Asif Akram also joined Microsoft Malta’s team as a corporate account executive focusing on a specific number of large enterprises. “With the growth of cloud services and mobility in the workplace, it is an exciting time to be working in the IT industry, engaging with customers and partners on their direction towards devices, cloud services and social media. I have built strong relationships at the highest management levels, assisting them to improve their businesses’ IT processes.” “Microsoft’s work in the community is through its Philantropies pillar,” explains Angela Micallef, Philanthropies Manager at Microsoft Malta. “Here too, there has been a shift in focus through more emphasis on the YouthSpark programme, pushing for more coding-oriented activities, Digigirlz and through our Microsoft Innovation Centre which is helping around 80 new start-ups,” says Ms Micallef. Ruben Caruana is Microsoft Malta’s EPG Manager working with Public Sector, Education and Enterprise Customers driving business through revenue, annuity relationships and the consumption of Microsoft cloud products. “Locally our strength is our very strong partner eco-system and the excellent relationship we enjoy with the local Government. Both the previous administration and the current one have recognised the great potential that Microsoft brings to Malta, its business sector and the community at large,” says Mr Caruana. “We are living in an era when we are experiencing a major transformation in the way people and business relate to technology, as we are seeing accelerated trends towards the adoption of Cloud and Mobile computing, Data Analytics, Social Technologies and Internet of things. Our business partners, which are over 90 JUNE / JULY 2016
per cent of our business, will remain our top priority as we help them transform themselves for the new digital era, leveraging the opportunities from the cloud to take these relationships to the next level,” says Kevin Schembri, SMS&P Manager. Kevin Abela assists Microsoft’s partners in their transition to service-based business models through the adoption of Microsoft Cloud Services. “By sharing tools and best practices, we help partners to streamline their client solutions across a platform that provides customers the choice and flexibility to solve business challenges and achieve real outcomes through cloud adoption. We act as trusted advisors for both our customers and partners, empowering them to achieve more by taking full advantage of the latest Microsoft technologies.” When it comes to excellence in pre-sales and quality service delivery of Microsoft’s technology solutions, Jonathan Vella comes in as Microsoft’s Partner Technology Strategist and is responsible for driving partner technical enablement to increase capacity and help secure through-partner wins with customers. “Technology and innovation have gained a lot of importance in Malta in recent years notably, and together with the team, we are going to make sure that Microsoft keeps offering its remarkable portfolio of services and solutions to support the evolution on the island and to further enhance our connection with our customers and partners,” says Mr Vella. “One of our more important roles is to provide pre-sale technology support to Microsoft’s Enterprise clients by designing technical programs that guide customers in realising the solution’s value by establishing both deployment and future product plans,” added Kyle Anastasi who is the latest addition to Microsoft Malta’s team as Account Technology Strategist. “One of Malta’s most important challenges for the coming years is going to be a redefinition of its competitiveness. Our commitment here is to assist the country in the direction it opts to take its economy. My commitment here is to build on what has been achieved and to assist in taking Malta to the next level,” adds Mr Ioannou. “A leader is as good as the team he is leading. I know I have the right people that can drive the business and face the new challenges ahead. Microsoft is transforming and we want our people to transform with Microsoft. But how do we become more innovative and creative to address new challenges? The answer is to be willing to lean in to uncertainty, take risks and move quickly when we make mistakes, recognising failure happens along the way to mastery. And we need to be open to the ideas of others, having a growth mind-set and where the success of others does not diminish our own,” concludes Mr Ioannou. cc
Asif Akram
Angela Micallef
Ruben Caruana
Kevin Schembri
Kevin Abela
Jonathan Vella
Kyle Anastasi
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Rich history, bright future – Sigma Malta is on the move
Photos by Studio Konnect
CC Case Study
Born in the boom days of the Malta Dry Docks, Sigma Coatings Malta has quietly grown to become the paints and coatings leader on the island. Fresh from the recent launch of a major investment in their production facilities, Iggy Fenech caught up with Managing Director Patrick Tabone to discuss current trends and future plans.
Many people in Malta think of wall paints when they hear the name Sigma, but I know that you also operate in a number of other sectors. Could you give us a clearer idea of what else the company does? Sigma started out as a supplier of paints to vessels back when the Malta Dry Docks was in its heyday. Today, we’re still very active in the marine sector, servicing everything from massive tankers, through to fishing boats, pleasure craft and super yachts. We also operate in the protective coatings sector, and we have many clients whose jobs have extremely technical specifications – fire retardant paints, tank linings, coatings that can withstand wide fluctuations in temperature, or that hold out against other extreme conditions. Of course, a large part of our work today involves the decorative paints market for homes, offices and other buildings. With a range of established and well-trusted products, as well as many others that are quite innovative, we have a paint that can fulfil practically every requirement. In fact,
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through our close association with the paints and coatings giant PPG, we act as a one-stop shop with a solution for virtually any paint and coating need. What is Sigma’s relationship with PPG, exactly? Internationally PPG took over Sigma in 2008, so we make most of our paints under licence to them, and also distribute their products in cases where we do not produce them locally. That means that our range of products is truly vast. It also means that we are backed by an almost unimaginable research and development capacity, and that we are held to the highest standards of production and service. Our raw materials, for example, are sourced only from vetted, approved suppliers and are of the very best quality. That’s one of the main reasons that the performance of our products is so consistent, and why they have gained such wide trust, both internationally and locally.
“People will always want and need to protect the spaces they live and work in, and to make them more beautiful, safer and more productive – we can be there for them with all the products and expertise they may need.”
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CC Case Study
You’ve recently launched new facilities at your premises. What are these new facilities, and how will they affect Sigma’s performance? While we’ve been growing and doing well, you can obviously never sit still in a business like this. Our larger volumes make possible improved economies of scale – so we have invested in machinery that has more than doubled our batch size, and introduced a new semi-automated packaging line that makes us a lot more efficient and also gives us quality, environmental, and health and safety gains. Investments like these are obviously costly, but we consider it money well spent, a measure of our belief in our products, and the potential for growth. In fact, we are already beginning to see the benefits start to flow.
our ultimate customers, and our clients have learnt that we will always support them with the technical help, and any other back-up, they might need. What are Sigma’s plans going forward? One thing I really want to do is to ensure that people get to know more about some of the really clever, more innovative products in our range. Examples of these include paints that can be applied straight to damp walls, waterbased wood paints, and self-cleaning paints that simply don’t allow any dirt to adhere to them.
At a more strategic level, we’ve recognised that quality is what has worked for us in the past, and we have put it as the focal point for all our efforts going forward. That’s why we’ve put so much energy into improving our production processes, our environmental performance, the health and safety environment in our factory, and ongoing staff training. People will always want and need to protect the spaces they live and work in, and to make them more beautiful, safer and more productive – we can be there for them with all the products and expertise they may need along the way. cc
Apart from your relationship with PPG, what else do you think sets you apart from other paint companies here in Malta? Anthony V. Critien, the chairman of Sigma Coatings Malta, built the company up almost from scratch over the last three decades with a very simple formula: excellent products backed by excellent service. We’ve got a very stable, knowledgeable and helpful team in place, and we serve a very extensive network of retail outlets, with nearly all hardware stores stocking Sigma products. That means that we are always close to JUNE / JULY 2016
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CC INTERVIEW
“A delay in ameliorating the judicial system will undoubtedly have an effect on social and economic spheres” Martina Said meets Hugh Peralta, honorary legal adviser to the Malta Chamber of Commerce, Enterprise and Industry, to discuss the development of the elusive justice reform.
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he EU Justice Scoreboard’s evaluations of Malta’s judicial system published by the European Commission in April this year – based on data obtained in 2014 – show a marked improvement in some aspects of Malta’s performance compared to 2013, such as the average time needed for cases of a civil and commercial nature to be decided at first instance. The average number of days in 2013 stood at 705, while in 2014, the average time dropped to 530 days. But the general sentiment of Malta’s judicial system on the ground paints a somewhat different picture, and a not-so-pretty-one at that. For years, the Maltese law courts have been criticised for being inefficient and the cause of serious social, financial, and psychological repercussions to the parties involved, which makes the need for a justice reform – which has been underway for some time now – that much more urgent and significant. Hugh Peralta, honorary legal adviser to the Malta Chamber, says that every system has its delays, and one can only properly assess its efficiency in an objective manner by comparing ours with other jurisdictions. Dr Peralta begins by stressing democratic society’s tripartite division of the Legislative, Judicial and Executive dimensions, where each has its distinct role and competence.
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CC INTERVIEW
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are suffering an injustice and they want that injustice to be remedied as soon as possible. Every week, every month, every year’s delay causes psychological stress, disruption in family life – whether with your spouse, partner, children or others – and causes economic hardships and often negative financial consequences.” In the case of businesses, Dr Peralta says that if, for example, a company is owed substantial sums of money and for some reason imputable to the system does not obtain judgement/s which it can then enforce against debtor/s, and in the meantime is therefore unable to pay off its creditors and in itself suffers claims from such creditors, the company may be brought to insolvency and bankruptcy. “In this case, the company suffers a very serious consequence. One can also mention that a lack of judgement and of financial recoveries (also part of the Court’s process) cause lack of cash, and loss of commercial opportunities, which would have otherwise been attainable if the funds were there. So a delay in justice does very much impinge on society and on economic and social life in general.” One of the biggest bones of contention of the justice reform continues to be the way members of the judiciary are appointed in Malta. Former European Court of Human Rights judge Giovanni Bonello, who chaired the Justice Reform Commission and drew up proposed reforms to the judicial system of appointments that the Labour government had requested, has publicly condemned the “archaic and totalitarian system” by which members of the judiciary are still being appointed in Malta. In an interview with Malta Today, he said that Malta was the only democratic country where judges and magistrates were not
appointed following a public call, but rather, “where the judiciary is appointed at the sole and unfettered whim of the politicians.” How does this reflect on Malta’s image? Dr Peralta asserts that, in certain foreign jurisdictions, lawyers specifically train to be judges, undergo various tests, and, if they are successful, are eligible to be appointed as such. “Questions are put, and these are wideranging, including ones on the moral aspect of the individual as well as questions on topical issues, and the applicant would have to get through a series of thorough checks in order to be appointed as a judge. The Bonello report highlights that this system does not exist in Malta. Government appoints lawyer A instead of lawyer B, when to many peers and members of the legal world, it is clear that lawyer A does not have the competence or ability that lawyer B has.” “Therefore, if certain criteria such as training and tests are not adopted, the system will suffer. And these criteria are, in the view of the Bonello report and in others’ views, the best mode of fairly appointing a competent judge. Otherwise, judges will not be appointed on legal competence and expertise, but because of other reasons – which one usually calls nepotism. This is the criticism of this system. Which of the two systems do I think is the best to create a better and more competent judicial system? I would think that the system where there is training and an impartial mode of appointment would be better than appointments by the then Government on whatever grounds it thinks fit.” Dr Peralta adds that the benefits of a faster judicial system are self-evident, and numerous suggestions to achieve this are included in the Bonello report. However, he offers a suggestion, whereby “when
“It is the judge who imparts justice when he delivers judgement in time and in accordance with the written law and the facts, without creating new law and usurping the legislator’s role.”
Photos by Alan Carville
“It is clear that there is, and there will always be room for improvement in the judicial system. The most common causes for complaints with the Maltese law courts are delays and loss of time. Parties complain that one attends court, takes a whole day or morning’s leave, and departs with no progress whatsoever – judgement may not be delivered, evidence may not be heard, and so on. Of course, this is a generalisation: and partly (or substantially) correct and incorrect. This complaint is also partly echoed by lawyers. On the positive side, we’ve seen an improvement in the administration and management of law suits, especially by certain judges.” Dr Peralta says the fault for such delays and loss of time does not belong to a single person, but rather is partly the fault of the parties, lawyers, procedural laws, staff and judges and at times, nobody’s fault at all, but just a matter of sheer chance. He explains, “let us say, for instance, that a case has been put off to a certain date so that person A will come to tender evidence on behalf of the plaintiff, i.e. the person filing the law suit. That date arrives and everybody turns up except for person A, because the lawyer did not subpoena him to come to court. In that case, it is clearly the lawyer’s fault. If, on the other hand, the lawyer did subpoena the person but, for no valid reason, the person failed to turn up, it is nobody but person A’s fault, and possibly not even if he was genuinely sick. In another scenario, if the plaintiff gave the incorrect address or name and this occurs for a second and third time, and the judge does not take action on it, then the delay is caused by the system or the judge for not being severe enough. Loss of time is a waste, causes enormous social and economic hardships, and is in a great part avoidable.” Dr Peralta adds that, every person – whether it is the lawyer/s, the parties, the court staff or the judge/s involved in a lawsuit – has a role to play, but the most important role is that of the judge, who is the ‘manager’ of the process, can reprimand lawyers and insist on their adhering to the production of witnesses, notes and so on, and who imparts justice when he delivers judgement in time and in accordance with the written law and the facts, without creating new law and usurping the legislator’s role. Asked whether he believes that a delayed justice reform is impeding the country’s competitiveness, Dr Peralta feels that “whilst improvements have occurred, a delay in overall ameliorating the judicial system will undoubtedly have an effect on social and economic spheres, whether in the commercial, industrial sectors or individuals. People who seek redress from the law courts do so because they feel they
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CC INTERVIEW
“People who seek redress from the law courts do so because they feel they are suffering an injustice and they want that injustice to be remedied as soon as possible.”
notifications to defendants are made, two notifications are to be served – one is the writ proper, and the other is the date for the first hearing. The date for the first hearing is also to be separately notified to the plaintiff; this could be eliminated by notifying the plaintiff when the plaintiff is filing the law suit. “Another suggestion is one made by the Malta Chamber over ten years ago, and which was also raised in the Bonello report, even though that report correctly indicated that this was not a procedural matter but a matter of substantive justice. It centres on the provisions covering the ‘Effects of Obligations’ (Civil Code), and specifically to a claim for the payment of damages which are to be
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quantified and established during the law suit.” On this point, Dr Peralta explains that currently, according to these provisions, a judicial award in favour of the plaintiff’s unquantified claim (where the amount claimed has to be assessed, proven and established during a law suit), accrues interest only from the date of judgement – even if this occurs after a span of say 15 years since when the law suit had been filed. Interest therefore
does not run from the date of filing of the preliminary judicial letter or of the law suit. On the other hand, in cases where the amount claimed is specific and pre-indicated, interest in the event of a favourable judgment starts to run in favour of plaintiff from the date of the preliminary judicial letter or the filing of the writ proper. Accordingly, in unquantified claims, the longer the case takes, the better it is for the defendant, and the worse it is for the successful plaintiff as the amount awarded – without compensating interest – means that the purchasing power of the award’s value has dropped enormously. Dr Peralta says such a discrepancy in the law needs to (and can easily be) rectified. On a concluding note, I ask Dr Peralta whether the imposition of EU laws since becoming members of the European Union has impacted the efficiency of Malta’s judicial system at all. “It wouldn’t impact the infrastructure of the procedures in the judicial system as such, but rather relevant laws which do affect social and economic life in Malta. It would also impact the lawyers’ and judges’ knowledge, or lack thereof, on those laws. EU law is a vast world, it is a specialised world, and I would dare say that it is an area which is not very well known by quite a number of lawyers, especially those who did not have the opportunity to be acquainted with it during their studies. The reality is that it is a recent introduction to Maltese law.” Dr Peralta – who has had over 40 years of experience in the law courts, believes in the noble role administering true justice plays in a society, and of course in Malta. “The system, and human frailty, do not always live up to this justified expectation. Those involved – especially those at the top – must strive to ensure that injustice in all its forms is kept to a minimum.” cc
Dr Hugh Peralta representing the Chamber of Commerce at the conference held by the Ministry of Justice, entitled ‘The Effects of the Justice Reform on Malta’s competitiveness’, on 21st January 2016 at the Excelsior Hotel, Floriana
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CC INTERVIEW
“Sterling will go down if we leave, and bounce back if we remain” HSBC’s Global Head of FX Strategy David Bloom was recently in Malta to deliver a talk on the effects of Brexit on currency. Following his talk, the economist famed for his no-holds-barred approach to predicting money markets chats exclusively with Sarah Micallef for The Commercial Courier.
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he United Kingdom’s European Union membership referendum scheduled to take place on 23rd June has dominated headlines for months now, with speculation on what effects a potential Brexit will have serving as a hot topic of debate on both UK and EU levels. One aspect that will certainly be affected is currency, and the effects have already begun to be felt. “Sterling should be trading at about 1.54 if it wasn’t for the referendum, but it’s currently about eight per cent weaker than it otherwise would be,” says HSBC’s Global Head of FX Strategy David Bloom, speaking of the effects of the uncertainty surrounding the EU referendum on the UK’s currency following his recent Malta talk.* “The reason for this is that the UK has a
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current account deficit and a budget deficit. If the UK was like Norway or Switzerland and it had a current account surplus and a budget surplus, I would be arguing that the currency would go up,” he asserts. Meanwhile, if the result of the Brexit referendum results in the UK leaving the European Union, Mr Bloom maintains that sterling can yet fall another eight to 15 per cent. “When things happen to move the probability on the bookmaker’s polls to a higher probability of leaving, sterling weakens, and when the probability leans toward the UK staying, sterling strengthens. So there is no doubt that the market has the view that sterling will go down if we leave, and bounce back if we remain,” he says in no uncertain terms.
“There is no doubt that the market has the view that sterling will go down if we leave, and bounce back if we remain.”
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CC INTERVIEW Speaking of what will happen to the sterling following the referendum in both scenarios, Mr Bloom affirms that what will happen if the UK decides to stay is by far the easier answer. “If we remain, things will go back to how they were very quickly. You’ll get a very aggressive rally in the sterling and the euro might also go up somewhat, because the idea of a ‘political problem’ would have gone away,” he states. Alternatively, the scenario if the UK decides to leave would lead to a type of ‘domino effect’. “If we were to leave, the sterling will fall. Then you have the second round of effects. I think that the initial impact on the euro will be negative, but moving forward it will depend on how things transpire – if the situation is such that the UK leaving is magnificently successful, this would be a problem for the euro-zone as other countries may want to follow. On the other hand, if the UK does particularly badly, it may strengthen European integration,” Mr Bloom continues. Adding that while there would certainly be some political fallout if the UK were to vote to remain within the EU, Mr Bloom believes that things will quickly shift back to the way they were; whereas if the vote is to leave, it will set several different pieces in motion. “There is the question of whether David Cameron should stay or go, leading
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to political issues relating to Conservative leadership; you’ve got the issue of what will happen with Scotland; negotiations with the EU in order to leave; as well as issues of whether this signals the beginning of a problem for the euro-zone. So it’s not static. This is why there’s so much interest in it, because this issue doesn’t stop at the borders of the UK, it’s a broader issue for the EU.”
“This issue doesn’t stop at the borders of the UK, it’s a broader issue for the EU.”
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CC INTERVIEW
“Part of the excitement and drama of it is that neither side is priced in – because it’s so close.”
What adds to the interest in the outcome, according to Mr Bloom, is the fact that it is not something that will unfold slowly. “Markets often like to price in the probability distribution of different outcomes, so we think about things in different degrees, but with this there’s nothing to price in at degrees – it’s a 1 or a 0 – this is the binary world we all live in, and this is a binary referendum,” he maintains, affirming that if the polls leading up to the final days of the referendum continue to be so close, the outcome is going to come as a shock to one side or the other. On the other hand, he continues, “if we get to a situation where the market starts believing very much that it could go one way over the other, that side would be priced in, but part of the excitement and drama of it is that neither side is priced in – because it’s so close.” Switching attention briefly to the euro, I ask, does he see a light at the end of the tunnel for the currency? Mr Bloom does not feel that the euro is in a weak position, asserting that conversely, it is very much on the up. “While it is true that there are political problems within the EU, people keep buying European assets. What worries the electorate and what worries investors can often be very different things. As an investor, you look at the euro from a relative point of view – and it is actually going up. We have found that the
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US recovery was being over-exaggerated, meaning that the dollar is not as attractive as we thought it was, which causes the euro to go up. If you look at European growth numbers, they have actually been better than expected, so Europe has been a lot better, and the US has been a lot worse,” he says. So if the UK votes to stay within the EU, does the Head of FX Strategy believe there will ever be a possibility, in the long term, for the UK to embrace the euro? “I think that would be the last thing on people’s minds!” he jokes, adding somewhat more seriously, “at this stage, there is no way I could see the UK giving up sterling in the foreseeable future.” Switching to the global level and given the fact that 2016 is a significant year for currencies – with both the aftermath of the Brexit referendum and anticipation of the presidential election in the US potentially impacting world currencies – I ask, what does he feel the outcome will be? “For some reason, we seem to worry about politics in every single country in the world except for the US, and it continues to be the case,” he affirms, explaining that there is no political discounted premium in the US in the market at the moment. “Could there be one? It’s possible, but we don’t even know who the candidates for the election will be yet. It’s going to be fascinating for us sitting outside the US, but for the moment, financial markets are not pricing anything in.”
Turning his attention to Malta to conclude our chat, Mr Bloom refers to the Gross Domestic Product (GDP) for the first quarter of 2016, which amounted to 7.6 per cent, as impressive, but advises the country to make hay while the sun shines, referring to the Biblical story of the seven years of plenty followed by seven years of famine. “I don’t know much about Malta, but I do know about deficits and surpluses, and when things are going well, you think they’ll last forever – they never do,” he maintains, “the world moves in a cycle.” cc
*HSBC research in no way supports either the ‘Remain’ or ‘Leave’ campaign. HSBC merely sets out what the Bank believes would happen to the currency on either outcome. All market data included in this interview was correct at the time of Mr Bloom’s talk and is subject to fluctuations on a daily basis, in accordance with global FX markets.
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FOOD&WINE
Turmeric tops the list of key ingredients in Google’s Food Trends Report. The herb, which has been widely used in Asian cuisine for thousands of years, has a peppery and slightly bitter flavour reminiscent of orange and ginger. Turmeric is also considered a superfood and is believed to possess a number of health benefits, leading to its medicinal use in Siddha medicine. A curry that’s also really good for you? Yes please!
02. Jackfruit This prickly peculiarity is the largest tree-borne fruit on earth, hailing primarily from South America and South-east Asia. Its rise in popularity is in part owing to some impressive nutritional credentials: researchers believe it could substitute staple crops such as wheat and corn as they come under threat due to climate change. But what is really quite amazing about it – which is, I suspect, the main reason behind its trendiness – is the fruit’s uncanny ability to imitate pulled pork in savoury dishes. Termed a ‘hot new vegan ingredient’ by E! Magazine, it has been spotted as a substitute for pork at various stylish street and Mexican food eateries, with vegetarian customers continuing to be amazed that what they are eating isn’t meat!
03. Cauliflower rice Faux carbs are quickly becoming the new ‘IT’ thing among health-conscious foodies, and hot on the heels of spiralised zucchini pasta comes cauliflower rice. Apart from being low on carbs, it’s also incredibly easy to make, making it the perfect introduction if you’re new to grain alternatives. Simply blitz the cauliflower in a food processor or grate it as you would a block of cheese – then microwave, pan-fry or roast to perfection.
05. Funfetti And now for the fun stuff – literally! Among the more frivolous food trends comes funfetti – giving desserts a burst of colour that’s bound to remind you of childhood birthday parties. While rainbow bagels dominated the headlines and seemed like all the rage when it came to dessert trends a few months ago, their crown has now been stolen by funfetti, according to Google. And whether you’re adding them to your cake batter, doughnuts, cookies or milkshake, this sweet little trend is sure to put a smile on your face!
01. aboutthatfood.com
01. Turmeric
06. Vegan doughnuts Plant-based eating and vegan cuisine is quickly gaining traction among meateaters, as many of those who don’t identify as vegans are attracted to the cuisine’s health and environmental benefits (not to mention its trendiness!) According to Google’s findings, this also extends to desserts, as vegan pastries – and vegan doughnuts in particular – top search terms in the last months. cc
02. www.foodnetwork.com
Sarah Micallef looks at the top rising stars in the food world, according to this year’s Google Food Trends Report.
Another food that made its way to the top of the Google Food Trends Report is sourdough bread. This one is perhaps no surprise – a well-documented trend is the inclination towards a holistic, authentic experience, leading people to choose breads with a genuine ‘bakery’ feel. Many consumers are opting to go back to basics, removing all but the core ingredients in their breads. As a result, breads that require long fermentation, such as sourdoughs, have become increasingly popular owing to their rustic, artisanal feel.
www.myelomacrowd.org
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willfrolicforfood.com
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Signature summer style
From wide-leg trousers for women to knee-skimming shorts for men, this year’s summer fashion trends will help you keep your cool in the sun without compromising on style. 01. Wide-leg trousers In summer, anything that doesn’t cling to our skin is a welcome addition to our wardrobes, and wide-leg trousers strike the perfect balance between style and comfort. Plus, some styles are so baggy, they can almost be disguised as maxi skirts.
02. Knee-skimming shorts Men’s shorts are often frowned upon for office wear, but these knee-skimming ones are smart, sophisticated and can be teamed with a neat shirt and pair of deck shoes rather than a polo shirt and flip-flops for smart day wear.
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04. Summer suede Who says suede is a winter exclusive? Opt for an Oxford or Derby-style shoe in a cool summer colour, such as coral, beige or blue with a contrasting-coloured heel, and get ready to cause some serious shoe-envy.
05. Nautical shirt dress No dress, or outfit for that matter, is as versatile and easily adaptable for day and night wear as the shirt dress. Opt for one in a summery print or nautical style with fine blue stripes, and pair it with smart wedges for office day wear and a strappy pair of sandals for after-work cocktails.
06. The timeless backpack The trusty backpack has emerged and re-emerged as a fashionable item for decades, but this year, designers have experimented with different shapes, sizes and materials for an altogether sleek, new look. And since backpacks are so in vogue, there’s no reason why you cannot wear one with a suit for the office. cc
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03. The white pencil skirt
Alice + Olivia
Ditch the mainstream black pencil skirt, (an office wear staple), in favour of a more summery style. This white Roland Mouret pencil skirt with an exposed zip is a perfect example of a classy, elegant and on-trend office number.
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Oasis
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www.alexandru-remus.ro
Burberry
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Nordstrom
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CC make the headlines
Debono Commercials – solutions and expertise to take your business further Debono Commercials is Michael Debono Ltd’s commercial vehicle and industrial equipment centre, and Malta’s only official representative for the commercial vehicle and industrial equipment division of the Toyota Group. We can offer you the solutions and expertise to take your business further. Our comprehensive range of products and services include the representation of Toyota commercial vehicles, Toyota forklifts, BT warehouse equipment, Hino trucks, Goupil electric utility vehicles and Fiorentini industrial floor cleaning machines. Our after-sales service includes a Mobile Service Station where we will transport
Global Transfers now available on HSBC Malta’s free Mobile Banking app HSBC Malta recently announced the introduction of the Global Transfers feature on their Mobile Banking app. Now, the bank’s Premier and Advance customers can make transfers between their international HSBC accounts using their smartphones and iPads whilst on the go, anytime and anywhere. The Global Transfers feature is fast and secure and allows Premier and Advance customers to transfer large amounts between eligible HSBC accounts. This feature was, to date, only available on HSBC Malta’s free Personal Internet Banking service. The HSBC Mobile app was launched in July 2014 and since then, HSBC Malta released a number of upgrades to make it more user friendly, whilst introducing new functionality,
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directly to your premises and repair your equipment on-site. You will find in our fully-fledged premises our extensive range of products and services to cater for your company’s warehouse equipment and fleet vehicle needs. We are committed to conducting business in a fair and honest manner and aim to be
such as the Global View feature which was introduced in 2015, and packs the power of HSBC’s suite of internet banking features. The app went on to reach the 15,000 download mark in under four months of launch and remains one of the leading downloaded apps in Malta in its category. HSBC Malta Head of Retail Banking and Wealth Management Daniel Robinson said: “since its launch, the use of the HSBC mobile app has grown dramatically with 22 per cent of the total logons to access online banking being made via the mobile app. When compared to the same period last year, the bank saw an increase of 73 per cent in transfers made using the app whilst the number of bill payments increased by 18 per cent. We are constantly upgrading our systems to make online banking more
recognised as the most respected and trusted commercial vehicles and material handling equipment partner in Malta. cc The Debono Commercials division forms part of the Debono Group of Companies – for more information log on www.debonocommercials.com
A screen shot of the new Global Transfers feature on HSBC Malta’s free Mobile Banking app
convenient for our customers.” The free HSBC Mobile Banking app allows customers to log on without using the HSBC security device and perform a variety of banking transactions 24/7 wherever they may be. It is available to download from the Apple Store for iPhone® and iPad® and Google Play for Android™ smartphones. cc
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Medavia – integrated tailormade aviation solutions Medavia is an aviation industry service provider founded in 1978 with its own aircraft fleet, specialising in customised services. Traditionally it serviced the oil and gas industry in North Africa. Third party aircraft charter brokerage, including dedicated air ambulance services, charter brokerage of VIP executive jets and airliners, ground handling services and cabin crew training are now also offered by the Operations Division. Through the maintenance arm, Medavia Technics, MRO services are offered for various aircraft types under EASA, FAA and LyCAA approvals. Expertise lies in the establishment and operation of line maintenance stations including technical support, both under normal and AOG situations. Medavia has evolved in line with business realities, investing to achieve
CRC Group: going from strength to strength In today’s dynamic world, a company cannot simply rest on its laurels. Increased price competition, the ever-rising demand for new products and the surge in the number of foreigners setting up business on our shores has rendered the Maltese economy a very challenging market to operate in. Local businesses are faced with a very big challenge – to innovate or to perish. Creative Refurbishing Centre (Malta) Ltd opted for the former, evolving into a company capable of offering its clients a complete package. For the past 23 years, CRC has been a onestop shop for supermarkets, retail outlets, catering establishments, warehouses and offices, to mention a few, focusing mostly on off-the-shelf products. Most of its operations involved business-to-business transactions and only a narrow selection of items targeted the residential sector. Nonetheless, these
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European (EASA) and American (FAA) approvals while adding design approved organisation (DOA-EASA Part 21J) to its portfolio. Maintenance services include heavy base maintenance, full refurbishments, modifications and painting jobs. Medavia also provides CAMO services. Medavia operated aircraft based in Libya, Tunisia, Egypt, Sudan, Mauritania, Algeria, The Philippines, Norway, Italy and Greece, and has great experience in setting up remote operation bases at short notice. As an operator Medavia provides integrated tailor-made aviation solutions, such as operating to remote areas and unprepared airstrips. As an MRO, efforts are made to minimise aircraft ground time while maintaining a seamless transaction for a truly one-stop-shop. High quality
standards, a clean safety record, dynamic and operational versatility are top priorities. A flexible and dynamic workforce comprising experienced and highly qualified personnel have made all this possible. Medavia became one of the top aviation services provider to the oil and gas industry in Libya, and has contributed greatly to the development of this industry in Libya. Medavia has been facing strong challenges over recent years mainly due to the fluid situation in Libya since 2011 and exacerbated by falling oil prices and fierce international competition. Despite this, Medavia continues to operate in new markets, aims to remain flexible and sensitive to changing customer demands, and a quality leader for all services offered. cc
past two years brought about a substantial change, in that the company decided to start tapping the domestic sector through the launch of its internal, security and garage door ranges. The company also launched its new high-quality range of aluminium and UPVC apertures, and works are currently underway to expand the already existing LED lighting section. Due to the fact that nowadays client demands are very specific and often require tailor-made solutions, the company went through yet another transformation. A new company, falling within the same group was founded and United CRC Combined Industries (Malta) Ltd came into existence. The latter has indeed grown steadily during the past two years, focusing on the production and installation of custom-made furniture, aluminium and UPVC apertures, and steel works. Since outsourcing always used to result in higher prices and huge delays, in-house production rendered company operations more efficient and costeffective – all to the client’s advantage. What’s more, CRC Group is now also fully equipped to take on turnkey projects, without having to resort to sub-contracting. A fully refurbished showroom specialised in professional catering equipment and tableware for the hotels and restaurants
industry will be inaugurated in the coming weeks at the Group’s headquarters in Naxxar. CRC Group will shortly be exhibiting at Il-Fiera l-Kbira at the Montekristo Estates. cc Creative Refurbishing Centre (Malta) Ltd and United CRC Combined Industries (Malta) Ltd form part of the CRC Group.
Attilio Briffa – Managing Director CRC Group
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JF Group – 20 years of growth JF Group started out as JF Security and Consultancy Services Ltd nearly 20 years ago, in 1997. The founder, Peter Formosa, bought out an existing company and strove to establish it as one of the leading players in the market. When the competitive edge was obtained, the family-run firm where Peter now sits as chairman branched out into various sectors, leading to the creation of JF Group, which is now under the stewardship of his son, Matthew. The core business of the Group is service-based and involves the provision of personnel services in various sectors. While its flagship services are JF Security and JF Cleaning, there are several other subsidiary companies. The Group services the hospitality and construction businesses with personnel, while a logistics company and a temping agency also form part of the Group. With its involvement in so many different sectors, JF Group puts a priority on looking after and training the workforce on whom the responsibility for maintaining its reputation for quality service rests. JF Group is a large organisation, but on the market, it is competing against even bigger players.
Hence, training and orientation are pivotal within the organisation; their subsidiary company, Aurelia, operates as a Certified Trainee Academy, offering courses ranging from fire-fighting and first aid to customer care and many others, as well as issuing security licences. Becoming one of the frontrunners within their industry required a lot of commitment and determination on founder Peter Formosa’s part. The company’s present status as industry leaders as well as the future
developments it has planned could not have taken shape without all the hard work carried out in the past. The Group’s mission today is to maintain their status at the top level. cc
Core Interface: The Gesture back and seat move as a synchronised system moving with each user to provide continuous and persistent support. The back cradles the user no matter the posture or device being used. The load transfers between the lumbar and thoracic area when reclining is balanced by the core equaliser. Limb Interface: The Gesture arm moves like the human arm, which allows users to be supported in any position even while texting on a smartphone, typing on a keyboard or swiping a tablet. Seat Interface: The Gesture seat brings
comfort all the way to the edges. It is flexible at the perimeter to allow users to sit in a range of postures without obstruction. The seat depth and height are also easily adjusted. Gesture promises personalised and custom comfort for all users in one simple solution. cc
Vinci Buildings, B. Bontadini Street, Birkirkara. T: 2069 1053; E: info@jfgroup.com.mt; www.jfgroup.com.mt
Gesture – Recognition for the Body Technology is the single greatest force driving the changes in the way we work, live and behave. The new, multiple devices we deploy throughout our work day allow us to flow between tasks, fluidly and frequently. Gesture is the first office chair designed to support our interactions with today’s technologies. Gesture is an office chair inspired by the human body and created for the way we work today. To design a new sitting experience, Steelcase stopped looking at chairs and started looking at people. Understanding posture at work and how the body naturally moves caused Steelcase to fundamentally rethink how to design a chair by studying the full range of postures at work. Like the human body, Gesture is designed as a system of synchronised interfaces, designed and engineered to be intuitive to adjust. The three interfaces identified by Steelcase are the core interface, the limb interface and the seat interface. 110
Gesture chair by Steelcase is available at Oxford House, Mriehel. JUNE / JULY 2016
CC MEET THE ARTIST
Creating connections through art Martina Said chats with artist Monica Spiteri about her most recent exhibition held at the Maltese Embassy in The Hague, her ever-evolving style, and making friends through art.
M
onica Spiteri’s love for art began as early as her days in primary school, when she received her first lesson from renowned Maltese sculptor Anton Agius – who continued to influence her art well beyond her early years. Ever since, she has dabbled with various media, and a number of Monica’s cherished works are proudly exhibited in her home, showcasing the versatile artist’s ever-changing style and approach. She was exposed to art at the young age of seven, and it wasn’t long until her interest became more than just a pastime. “At the age of 14, I attended the School of Art at the Polytechnic in Msida, which is where I studied drawing, colour, wood carving and modelling. After some time, I also gained an interest in ceramics, which I studied under the tutelage of Anna Ciavola.” Monica’s education in art is dotted with experiences and lessons given by a number of highly respected names in the scene, including painting under the wing of Charles Cassar, Harry Alden and Esprit Barthet, modelling with Samuel Bugeja, wood carving with Anton Agius, watercolour techniques with Matt Bruce and batik 112
Photos by Alan Carville
techniques with Sarkasi Said. After completing her studies at the School of Art, during which time she wanted to experiment with as many facets of art as possible, Monica set out on her own artistic journey to discover her individual style and personality. Her earlier works, such as Horse and Rider, which continues to be one of her favourite pieces, are a reflection of the
artist’s inclination towards the semi-abstract from the start. “The truth is, I paint according to my mood,” she says timidly, when asked to define her style. “My style changes according to what I feel like painting and what inspires me most at the time.” Her first solo exhibition, which was held at the National Museum of Fine Arts in Valletta in 1999,
“I primarily wanted to promote Malta through my work, particularly since the exhibition was held at the Maltese Embassy in The Hague.”
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CC MEET THE ARTIST
“The truth is, I paint according to my mood. My style changes according to what I feel like painting and what inspires me most at the time.”
Photo by Monica Spiteri
included a body of works using mixed media with a particular focus on landscapes, while her second exhibition held at the Museum of Archaeology a few years later included a collection of approximately 80 works, including paintings, sculptures and ceramics inspired by the setting within which the exhibition was held. “The theme of the exhibition centred on Malta’s extensive archaeological richness, which I discovered an interest in during my years at school. With so many archaeological sites and museums across the islands, it was impossible not to get inspired, and it turned out to be the central theme for the exhibition,” she explains. It was during this same exhibition that Monica met and befriended Dutch artist Hanneke Wessels, who she collaborated with for a joint exhibition held at the Maltese Embassy in The Hague, Netherlands, last April. While Monica was exhibiting her works at the Museum of Archaeology in 2006, Henneke Wessels was hosting her own exhibition at the National Museum of Fine Arts. Since then, their artistic friendship and collaboration has evolved and led to their JUNE / JULY 2016
most recent joint exhibition, ‘Friends in Art’. “Our work is widely different, and there were no common themes between my work and hers at this exhibition. We left it up to the individual to develop their own theme, style and ideas, while at the same time celebrating ten years of friendship,” says Monica. “As for my collection, I primarily wanted to promote Malta through my work, particularly since the exhibition was held at the Maltese Embassy in The Hague. I explored different scenes of Valletta, including specific streets, Auberge de Castille and the Church of St Catherine of Italy, The Church of Our Lady of Liesse as well as the old and new parts of the entrance of the capital city. Some other works explored symbolic aspects of Malta, such as the traditional luzzu as well as a colourful festa scene, which was inspired by the Lija summer feast.” Her paintings for this exhibition were also inspired by her surroundings as well as travel experiences. “I was on holiday in Venice last October, and some of the days during my trip there were immensely foggy. The thick fog created a very striking scene,” she says, and upon her return, she applied those scenes to three different paintings, one of which is an abstract, while the other two are semi-abstract and depict a gondola riding into the fog. “I adopted a variety of styles for this exhibition, ranging from abstract to semiabstract as well as a more conventional style of painting. Besides wanting to show my versatility and skill in different styles, I also wanted to appeal to a wider audience,” says Monica. “The abstract works are inspired by a variety of themes, mainly nature. I actually started working on those while I was in
Comino for a short break – the first painting of that series was of the Blue Lagoon on a rough day, while others are inspired by nature walks in Zurrieq during winter, when the sun was setting over the rough sea.” Malta’s long and rich history has proven to be a prominent source of inspiration throughout Monica’s career. In fact, even when she’s not preparing for an exhibition, she often turns to historic events or personalities for
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ideas for new works. She points to a series of large paintings that cover one of the walls of her studio, which depict scenes from The Great Siege, as well as portraits of Fra Antonio Martelli – a member of the Order of the Knights of Malta – as well as Grand Master Alof de Wignacourt. “For a while after moving into this house, I was trying to decide what to do with that wall – it’s a magnificent wall and I had to do something different with it. After visiting the Grand Master’s Palace in Valletta, I decided to decorate it with a series of paintings relating to Malta’s history.” Monica’s work has been awarded first place in the landscape silver palette watercolour international competition by the Malta Society of Arts, Manufacture and Commerce, as well as third place in the Grolla D’Oro International Biennale in Treviso, Italy.
Photo by Monica Spiteri
CC MEET THE ARTIST
Monica Spiteri and Hanneke Wessels
While she considers these awards to be memorable landmarks of her career, she’s still reeling from the experience of her first exhibition overseas. “I hope to set up another exhibition in Malta in the near future, and perhaps abroad too when the time is right. When it comes to my art, I’m always after personal satisfaction first and foremost, as well as making friends through art.” cc
“I adopted a variety of styles for this exhibition, ranging from abstract to semi-abstract as well as a more conventional style of painting.”
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