The Commercial Courier June/July 2018

THE COMMERCIAL/78

COURIER THE OFFICIAL BUSINESS MAGAZINE OF THE MALTA CHAMBER OF COMMERCE, ENTERPRISE AND INDUSTRY SINCE 1947

JUNE/JULY 2018

A clean, sharp aesthetic Flexible, technologydriven office design

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IN THIS ISSUE CAN MALTA BECOME THE SILICON VALLEY FOR EMERGING DIGITAL INDUSTRIES? / IS HUMAN RESOURCES THE BIGGEST CHALLENGE YOUR COMPANY IS FACING? / RESTORATION EXPERTS ON HOW DEMOLISHING HISTORICAL PROPERTIES CAN BE SHORT-SIGHTED / HOW BUSINESS EXECUTIVES’ SEDENTARY LIFESTYLE CAN IMPACT PHYSICAL AND MENTAL WELLBEING / PARISIAN ARTIST JULIEN VINET ON HIS LAST EXHIBITION IN MALTA / THE LATEST BUSINESS NEWS

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COURIER JUNE/JULY 2018

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FOOD trends

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93 DESIGN TRENDS

13 COVER STORY IS CRYPTO MALTA’S NEXT BIG INDUSTRY?

CHANNELLING TRANQUILLITY AND MODERNITY

As more cryptocurrency and blockchainrelated businesses choose Malta as their base, Jo Caruana asks, are we poised to become the next Silicon Valley for emerging digital industries?

Martina Said meets architects Edward Coppini and Elisa Fedeli from Parallel Architects to find out about the flexible, technology-driven design of Melar Business Operations’ new office.

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113 INTERVIEW

TACKLING THE ISSUE OF LABOUR SUPPLY

THE CONSEQUENCES OF THE OFFICE-CHAIR LIFESTYLE

Malta is currently undergoing a severe shortage of labour supply.

Marie-Claire Grima speaks to industry specialists to find out where the problems lie, and what must be done to keep the economic engine humming.

53 IN FIGURES JOBS… IN NUMBERS A look into the figures related to jobs in Malta.

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OFFICE TRENDS

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85 INTERVIEW

Lewis Pitcher asks leading physiotherapist Sam Bonnici to shed light on ways to challenge a sedentary lifestyle.

OF DEMOLITION AND DEVELOPMENT: ARE WE DESTROYING OUR ARCHITECTURAL HERITAGE?

133 MEET THE ARTIST

Developers have been given the green light for the demolition of several historical properties across the islands, but can this be to the detriment of Malta’s economic interests? Sarah Micallef speaks to three industry experts.

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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.

This issue covers the period June/July 2018.

Articles appearing in this publication do not necessarily reflect the views of The Malta Chamber of Commerce, Enterprise and Industry.

All rights reserved. Reproduction in whole or in part without written permission of the publishers is strictly prohibited.

THE SUM OF ALL COLOURS French artist Julien Vinet speaks to Marie-Claire Grima about the power of black and white, the confidence an artist needs to become more challenging, and his experience of working in Malta.

The Exchange, Republic Street, Valletta VLT1117 Tel: +356 2123 3873 Fax: +356 2124 5223 info@maltachamber.org.mt www.maltachamber.org.mt EDITOR

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ON THE COVER Melar Business Operations’ new office.

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Malta chamber’s bronze collaborating partners JUNE/JULY 2018

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CC Editorial

It’s a family affair Often described as the soul of the economy, family businesses hold a crucial role in the economic growth of any country. Entrepreneurship often takes its fledgling first steps within the protective walls of a family, with a dining table doubling as a board room table and family members taking on roles in running a business.

This early incubator for ideas often develops into something important that requires structures.

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ocally and internationally, we have seen family businesses which had a great idea develop it into a nation-wide or even international force to be reckoned with.

Not less, at the Chamber, family businesses hold a very special place in the development of the 170-year-old institution. Some of them are household names that certainly need no introduction, while others, while holding a lower profile, play a crucial role in the country’s economic scenario.

The life of a family business, naturally, is not without its challenges. There are many uncertainties that must be overcome throughout the lifetime of such a business, particularly when transferring from second to third generation and beyond, as has been proven repeatedly. And though so much has

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been said on the subject, a single guide book detailing the steps that will guarantee the continued success of a family business is yet to be written. It is safe to say that in the case of family businesses, one size does not fit all.

This was abundantly illustrated during a business breakfast organised by the Malta Chamber in collaboration with its gold partner Bank of Valletta in May, which focused on the succession process family businesses go through, and which stumbling blocks they find to be hardest to overcome.

The event shone a light on how successful successions involve years of strategic planning, development and preparation, both on an operational level and more so on an emotional level. A number of family

business owners would shudder at the thought of the business functioning without them, but it is an idea that they must, over time, warm up to and prepare for.

Yet the succession process is not the only challenge family businesses have to prepare for. The presence of business fundamentals such as good governance structures, reliable and stable teams, motivated leadership and sound business plans are necessary for every business. However, the way in which these fundamentals are applied in each family business is unique, since every business operates within different family dynamics and different market conditions. The only constant commonality for any type of family business is the stiff competition faced on the market every single day.

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CC Editorial

It is safe to say that in the case of family businesses, one size does not fit all.

The nature of competition today means that family businesses cannot afford the slightest of complications, and they need to remain focused on their operations to ensure sustainability and growth.

As a Chamber, we have throughout our history offered unparalleled help to family businesses in this sense. The Malta Chamber has been the natural home for family ventures, as it helped them in an array of ways.

In celebration of the 170th anniversary of the Chamber and as a tribute to family businesses, the Chamber is organising a national conference which will take place in October and will be dedicated to the subject of family businesses.

The conference, which is expected to feature international household names, will celebrate the unsung heroes of our economy, discuss the challenges they foresee and how the Chamber can help them, and shed a light on their bright future ahead. More details about the

conference will be made available at a later stage.

In Malta, family businesses enjoy a stellar reputation. They contribute to a significant portion of the country’s economic activity, offer stable employment, rewarding work

environments, good working conditions and care for their employees in the same way they care for family members. The Chamber is only too proud to be in a position to say that it plays a role in the growth of each of these businesses. cc

CC COVER STORY

Is crypto Malta’s next big industry?

As news breaks of more and more cryptocurrency and blockchain-related businesses choosing Malta as their base, Jo Caruana asks: are we poised to become the next Silicon Valley for emerging digital industries?

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cross the globe, huge strides are being taken in the world of blockchain. From China's Huobi Group investing over $100 million (€85 million) in new public blockchain, to the fact that a London gallery is about to sell some very valuable Andy Warhol art in Bitcoin using blockchain, there is no denying that crypto is shaking things up, making waves and injecting itself into mainstream culture.

Locally, all eyes are also on the sector to see whether it could prove to be a valuable market for Malta. In February JUNE/JULY 2018

this year, the Government launched its vision titled Malta – A Leader in DLT Regulation, which put forward a three-step approach to regulating DLT (which stands for distributed ledger technology, and is another term for blockchain).

“Unlike other jurisdictions, Malta will be taking a broad and holistic approach to putting forward a legal framework through which this technology can operate,” says Parliamentary Secretary for Financial Services, Digital Economy and Innovation within the Office of the Prime Minister

of Malta, Silvio Schembri. “We have put forward three Bills that are currently at their second reading in Parliament, and which can be accessed online under The Malta Digital Innovation Authority Bills.

They call for the establishment of an authority to be known as the Malta Digital Innovation Authority, which is to focus on innovative technology arrangements and their use cases. These Bills will be built on three main elements – namely, market stability, market integrity and investor protection.

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All in all, our aim is to provide the legal certainty that operators within this space are looking for.”

Speaking from a business perspective, Francois Grech, Chairman of the IT Business Section within the Malta Chamber believes that cryptocurrencies have been having high exposure on the market due to their high volatility and potential return for investors. “Although the technological elements behind them are not always fully understood by investors, cryptocurrencies are offering a disruption in some parts of the financial markets,” he says. “The industry is still not mature and will take some time to stabilise, however it has a lot of potential for early movers.”

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Explaining further, he highlights how cryptocurrencies are based on blockchain technology, while blockchain can also be applied to various applications beyond cryptocurrency. “Malta has started to introduce legislation to regulate blockchain providers, which will definitely attract sizeable industry players. The island stands to gain by positioning itself early with the blockchain world.”

Dr Max Ganado, a partner at Ganado and Associates, is also closely following the island’s relationship with blockchain.

“Malta is trying hard to market itself as the Blockchain Island,” he says. “In my view, it is inevitable that this technology will increasingly be adopted as time goes by.

“Several players in the DLT sphere have already announced their interest in Malta.” – Silvio Schembri, Parliamentary Secretary for Financial Services, Digital Economy and Innovation

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“Malta stands to gain by positioning itself early with the Blockchain world.” – Francois Grech, Chairman of the IT Business Section, Malta Chamber of Commerce, Enterprise and Industry It is very difficult to limit or constrain technology, and ignoring this world will not make it disappear. Malta has acknowledged this and has been nimble enough to react to this reality before other countries do.”

Currently, as Dr Ganado explains, many global blockchain operators are working in a legal limbo. “Most of them are 'tolerated' in their current jurisdiction of operations without any policy direction by the respective jurisdiction,” he says. “What we offer them in the new legislative approach is legal certainty and a framework which will allow them to be supervised and regulated, which will hopefully lead to more credibility and a wider acceptance, not just by individuals but also by other stakeholders. This could be a win-win situation, because it will bring a degree of regulation to this industry, which will protect users and consumers while at the same time allowing these operators to become more mainstream.”

“Malta is trying hard to market itself as the Blockchain Island.”

– Max Ganado, Partner, Ganado and Associates JUNE/JULY 2018

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“The most fascinating aspect of blockchain is its potential to improve the transparency and efficiency of our businesses, and to stimulate new development through initial coin offerings.”

– David Zahra, Lawyer, David Zahra and Associates Advocates

Lawyer David Zahra, from David Zahra and Associates Advocates, goes into further detail and explains why he believes Maltese businesses can benefit from developments in this area. “People tend to get caught up in the market value of cryptocurrencies, however the most fascinating aspect of blockchain is its potential to improve the transparency and efficiency of our businesses, and to stimulate new development through initial coin offerings (ICOs).

“Its application within the real estate, maritime and aviation industries is particularly apparent, and these are likely to be the first areas of thorough implementation. The possibilities beyond that are endless for both the private and public sectors.”

He also believes that Malta has the resources to sustain this growth into the future. “Over the past years, Malta has unassumingly cultivated the perfect habitat for blockchain. The strength of our existing financial services sector will lend itself well to the development of a blockchain industry, as will the steady stream of qualified and enthusiastic talent from our universities.”

Meanwhile, Claudine Cassar from Deloitte Digital Malta stresses that we will need to do more if we want to sustain the human

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resources needed to make Malta a success in this sector. “Unfortunately, companies in the IT industry (as well as other professional sectors) are struggling to find the resources required to keep up with their existing workload,” she says. “The situation has

escalated to the point where resource availability has become one of the top factors restricting company growth.

“But there are several things we can do in order to try to mitigate the situation.

We could start by trying to attract more youngsters to technology. We could also launch training programmes to attract women who are interested in joining the workforce after years at home. And last but definitely not least we need to create streamlined processes for the issuing of fasttrack work permits to third-country nationals who have highly sought-after skills.”

As for whether Malta could become that much-coveted Silicon Valley in the Mediterranean for blockchain, she believes we have what it takes – although change needs to take place too. “We need to make serious changes in the way we process work permits for third-country nationals, as well as major investments in our infrastructure to be able to cope with the very rapid growth in our population,” she says. “Our current infrastructure in many areas – such as when it comes to health, education, housing and roads – was planned for a population of around 400,000. We are now reading articles in the press about our population being on track to reach 700,000 people – clearly this means that the system is under JUNE/JULY 2018

CC cover story severe strain, which will ultimately impact quality of life. If we do want to become the Blockchain Island then we need a holistic plan of investment to ensure that we have everything in place to retain our attractiveness as a destination for expats.”

Finally, Parliamentary Secretary Schembri highlights why he, too, thinks there is scope for the future of a Blockchain Island. “A number of important things have happened in recent months to underline the fact that we are moving in the right direction,” he says. “For starters, several players in the DLY sphere have already announced their interest in Malta.

Binance, for instance, has declared that it will relocate its headquarters here and will eventually employ over 200 people, while Okex is making the same sort of commitment. Beyond that, Neufund will also operate from Malta and has committed to bringing in a team of experts that is highly-skilled in RegTech and blockchain development.”

“With all of this in mind, it is clear that this new economic sector is already in ascendance and that Malta will become a major global player in this space. Malta has a sophisticated and well-developed ecosystem, and I have no doubt that it will serve as a role model for other countries to follow,” he adds. cc

“We need a holistic plan of investment to ensure that we have everything in place to retain our attractiveness as a destination for expats.” – Claudine Cassar, Leader, Deloitte Digital Malta

CC BUSINESS

Getting ahead of the technological boom Martina Said speaks to locally-based business leaders about Government’s efforts to attract blockchain and cryptocurrency industries to Malta, and what doing so can mean for the island.

Federico Vasoli – Head of International Operations, dMTV –

de Masi Taddei Vasoli – Milan, Malta, Saigon, Hanoi, Tehran

What are your thoughts on Government’s decision to attract blockchain and cryptocurrency industries to Malta?

Very positive for a number of reasons.

It further helps place Malta on the map of international business: as a European lawyer that works internationally, I notice that, despite Malta’s remarkable results, its economy and market size are still quite small and its name is not yet as recognised; embracing what is not just a trend but possibly a factor of dramatic technological and social change will draw worldwide interest to the country. Furthermore, while embracing technological change, Malta is trying to regulate it, which is in my opinion commendable for businesses and consumers alike. Considering the predominance of technology and the economy over the pace

of legal frameworks, the Maltese legislator has been remarkably fast, paving the way for other jurisdictions to use Maltese laws on this matter as a benchmark.

What services does your practice offer that can cater for these emerging industries locally?

Thanks to our international presence, particularly in large markets like Italy and the Asia-Pacific, locally-established companies that run blockchain and issue cryptocurrencies can take advantage of our legal, tax and commercial reach. For example, we are assisting a blockchain that buys – through option rights – and certifies authentic Italian luxury products, to be sold to consumers worldwide with their cryptocurrency. On top of the core legal and fiscal implications inherent in the running of the blockchain and subsequent ICO, there is a wealth of legal implications even of a traditional nature, such as negotiations with suppliers, labelling, import duties, safety issues, consumers’ rights and many more.

How do Malta, and also dMTV, stand to benefit from these new industries?

Benefits would definitely include promoting Malta at an EU and an international level not just as a pioneer, but also as a serious,

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fast, business-oriented legislator; expanding the country’s GDP; attracting new and diverse talents and promoting national ones; contributing to the positive effects of this technology, for instance combating online fraud. With its presence in Malta, dMTV can benefit from being in the right place at the right time, not just related to services for these industries, but for assistance given to clients that do business with or in Malta.

Do you foresee them posing any challenges?

Absolutely. We are still at the early stages of blockchain and even more of cryptocurrencies.

We have not explored their full potential, we do not know if other jurisdictions will embrace Malta’s example in their regulations, and we might experience a development which could be similar to that of the Internet – excessive enthusiasm, inevitable scams, a sudden collapse and then an emergence of a few world giants. The effects of disruption at all levels are yet to be seen, and digital divide will be an even more urgent global challenge if these processes catch on at a large scale. At a time of ontological questions related to the functioning and the very existence of the euro and of the European Union, cryptocurrencies could pose a philosophical and political test to the very essence of the state and the role of central banks.

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CC BUSINESS

Albert Cilia – Managing Director, Trident Trust What are your thoughts on Government’s decision to attract blockchain and cryptocurrency industries to Malta?

I believe it is positive news for the jurisdiction. Our key message to the international market is that we are ‘open for business’, and adapting to market trends is central to this. As with all new industries there must be a degree of caution, but there are undoubtedly opportunities to be pursued in this emerging sector. There is also a good fit with Malta’s experience in providing services to the financial and the gaming sectors. In the gaming sector, the Maltese Government successfully implemented a forward-thinking regulatory framework and clearly a similar model is being pursued here. Players in the crypto space are looking for a regulatory framework which can give them certainty, clear quality standards and international recognition.

What services does your business offer that can cater for these emerging industries?

Over the last year, we’ve been on a very interesting journey establishing a functioning global service capability for crypto currency

funds. We have worked hard to understand the specific issues presented by the asset class and have also developed the right technology mix that enables us to service these funds efficiently. We are able to help fund managers establish their fund structures and then provide a full range of accounting and administration services.

How do Malta, and also Trident Trust, stand to benefit from these new industries?

Malta will benefit in that we are diversifying through creating another regulated industry segment that we can serve. Furthermore, by creating the opportunity to become an international blockchain centre of excellence, we are putting ourselves in a good position to reap the broader benefits that technology may bring in the future. At Trident Trust in Malta, we are already actively working with a number of crypto currency funds and we expect this number to increase as the sector matures. By virtue of being early to the market and investing substantial resources to understand and work with the asset class, we think we are well-positioned to remain a market leader in the crypto fund space.

Do you foresee them posing any challenges?

As with all emerging industries, the future is unclear. There are fierce proponents and critics of both the blockchain and crypto currencies, and there will undoubtedly be both winners and losers in this space as we go through a process of evolution. The key will be assessing the risks appropriately and making the right choices – a rule that applies to business in general and not just this sector.

T. Jack Williams – President & Founder, Bitload4u Ltd What services does Bitload4u offer?

Bitload4u Ltd, known in the industry as B4U, provides a suite of global clearinghouse services. For the consumer, we offer liquidity so that one can enjoy their bitcoin and provide the opportunity for a consumer to send us their bitcoin; we liquidate it and can forward the proceeds to a bank account they own, or a prepaid debit card.

Our corporate business today focuses on the Malta gaming community. We offer multiple pay-in and pay-out solutions. A player can access their cashier account, send a partial bitcoin or more to B4U, and we liquidate it and forward the approval to the gaming house, all in under five seconds.

On the pay-out side, the player can request a pay-out via the cashier system, and we can make the pay-out in bitcoin to any wallet, prepaid debit card or bank as directed by the player. Our vision for B4U is as a global payment solution. In essence, I will take the company to be an ATM withdrawal and POS merchant solution. If bitcoin is to become a mainstream payment tender, ease of use and a simple consumer experience are the keys to success.

What are your thoughts on Government’s decision to attract the cryptocurrency industry to Malta?

For Bitload4U, the decision to attract the crypto currency community was only the icing on the cake. Malta is a great business centre, and with the support of the Maltese Government, we feel that we are capable of building a global business, for many reasons.

Government support is key, as well as its support for the global gaming community, which all combine to make Malta a great business location for B4U.

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How do you think the blockchain and cryptocurrency industries can benefit Malta?

The global business world is getting smaller, and in many ways looks to Malta for leadership.

I believe that blockchain and crypto currencies will impact global commerce as the internal combustion engine did about 100 years ago. Proof of that is the number of major corporations that are filing patents for a multiplicity of uses. Malta can benefit by being first to the market with solutions. Having an infrastructure that can support and develop these solutions, and then market them to the world, will benefit Malta and the Maltese citizens with good jobs.

What are the greatest challenges and opportunities for the industry?

The Bitload4u global clearinghouse offering requires a global view of the payments infrastructure. This is not about a single country or region – the value of bitcoin is its globalisation. The challenge is keeping up with various country and regional regulatory oversights to ensure complete compliance with the various countries. Today, there is very little global oversight. The opportunities, then, are endless. For us, the big picture opportunity is to become a global financial clearinghouse company in Malta. Our goal as a Malta company is to be one of the EU’s thought leaders in payments and clearing bitcoin transactions.

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CC business

Carm Cachia – Chief Administrator, eSkills Malta Foundation What are your thoughts on Government’s decision to attract blockchain and cryptocurrency industries to Malta?

Malta is already a leader in the gaming and betting sector, and the country has become the primary jurisdiction of choice for many in the industry, due to the proper financial and regulatory framework it provides. This was complemented by our strategic location within the EU, enjoying a lower cost of operation than our European counterparts. Having acquired such a reputation in these sectors, we should likewise be successful in being one of the leaders in blockchain. Malta will have a Blockchain Strategy, and is currently enacting blockchain legislation. The setting up of a digital innovation authority to certify blockchain companies is also in progress. This technology is being thought of as a game changer as much as the Internet, so it is not surprising that Government has seen this as an excellent opportunity to make Malta a global trailblazer.

How do you envision the Foundation to be a part of Malta’s blockchain industry?

The eSkills Malta Foundation has a strong mandate to increase the digital skills of students, educators, the workforce, citizens, and ICT professionals. The true value and benefit of blockchain would

be when the blockchain skillset of the audiences mentioned are there; that is, the citizen is well familiar, the workforce is proficient and the digital, banking, legal, corporate and Government sectors have the relevant expertise. To reach this level, a lot of initiatives must be adopted by all the stakeholders, and the Foundation should be a reliable and consistent contributor to this.

How do Malta, and also the eSkills Foundation, stand to benefit from these new industries?

There are numerous benefits for Malta – national revenue is one. At some point, an astronomical amount of cryptocurrency and blockchain material will be handled through Malta, and I envisage a local cryptocurrency exchange to be set up. Like the gaming and betting industry, revenue will pour into Maltese coffers through some form of tax.

Knowledge-based and high-tech employment will grow, and this is a direct benefit. Due to this, the education sector, and our Foundation, will have to provide the appropriate and reliable course content on blockchain. The transformation of local companies into ones that run with blockchain methods is another benefit, and having international leaders operating here will contribute to best practices and knowledge of local companies.

Do you foresee them posing any challenges?

Yes, definitely. Blockchain is a technologybased sector and a large number of resources will be required. Malta does not have enough resources and must be prepared with a plan and strategy, as otherwise it may hamper the local progress of blockchain implementation. Education is another big challenge, as is setting up the right regulatory and legal framework, especially since Malta has got so many stakeholders in this area. We must also strive for the proper international and European recognition, as this will set us apart from the rest.

Frederick Micallef – Managing Director, DataByte What are your thoughts on Government’s decision to attract blockchain and cryptocurrency industries to Malta?

At a macro level, it is a strategic move in the right direction. The focus and energy dedicated to these technologies are an investment into potentially huge economic performance in the near future that can be a deep-rooted contributor to our GDP. Blockchain (as an innovative record-keeping system) and cryptocurrencies (as virtual currencies) will soon totally modify many aspects of our daily lives.

This is an excellent move that is relatively early to market and in time to make us significant international players. Of course, we need to set the right operational, strategic, regulatory and legal frameworks for this to happen in a

professional way in order to be considered a serious jurisdiction. We also need to ensure that our similar tech industries do not fall to bad international repute, as this would give us a bumpy start into this new venture. I say all this keeping DLT (Distributed Ledger Transactions)/ blockchain in mind. I do have some reservations regarding the cryptocurrencies industry (which is often deemed to be one and the same as blockchain) seeing that there is much more to be done from a regulatory framework to embrace this relatively new financial phenomenon.

What services does your business offer that can cater for these emerging industries locally?

We are mindful that increased foreign direct investment in Malta will bring a higher level of employment. As a company, this is directly in line with our investments done over the last years to offer state-of-the-art Human Resources software solutions through our cloud deliverables. Same as the penetration we had into gaming and financial services companies, these new technology industries will attract employment that can directly benefit from our software services.

How do Malta, and also DataByte, stand to benefit from these new industries?

Malta has a flexible workforce that can adapt

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to diverse industries. We have professional companies and training institutions ready to train our workforce to meet near future challenges.

Investing resources in the new services industries as with blockchain and virtual currencies should benefit Malta immensely. A blockchain summit planned for Malta later in the year already puts us among the upcoming international players. Putting up a strong legal and regulatory framework ahead of other jurisdictions will give us an advantage. From my company’s perspective, our software offerings will benefit from the additional employment being contemplated as a direct move to these new technologies. We can also use the foreign clients that we serve with our software systems to possibly export such cloud HR software systems to other jurisdictions.

On the other hand, do you foresee them posing any challenges?

Shortage of human capital in the technology front will present severe challenges that we already have. Increased employment, especially through more imported manpower, will place added burdens on our demographic and environmental impact. As a company, we believe that there will be challenges but we see challenges as opportunities.

When one markets a strong product, the significance of every challenge is counteracted by the strength of one’s offerings. cc 27

CC CASE STUDY

Keeping one step ahead of the recruitment market Modern companies are environments of rapid change and development, with innovation now a necessity over an advantage. As one of the few companies present at the dawn of the iGaming industry in Malta, Betsson has experienced every stage of innovation to date. Lewis Pitcher speaks with Chief HR Officer Lena Nordin about recruitment, staff retention and what makes the company unique in an ever-evolving industry.

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n 2004, Malta became the first among its European counterparts to regulate remote gaming, introducing legislation that specifically catered to an industry still effectively in its infancy. Among the first few companies to acquire one of the initial licences was Betsson Group who, in various forms, have been operational and integral to the Maltese gaming industry ever since. Now an employer of over 1,600 staff, 900 in Malta alone from 46 countries, Betsson’s Chief HR Officer Lena Nordin has perhaps one of the most detailed insights into the country’s unique recruitment market.

More than many similar businesses, Betsson has the advantage of an extensive company history going back generations, as well as the experience that comes with it. “At Betsson Group, the customer is at the heart of everything we do. We listen and learn from our customers, and aim to exceed their expectations, using best-in-class technology and leveraging an abundance of data and insight. Our 17 brands offer casino, sports betting and other games via gaming licences in 11 countries. One of our key company values is ‘We Play Fair’, which applies both internally and externally; we respect each other and we respect our customers, we are open and transparent. Responsible gaming is a natural part of our operations and something we take very seriously. We see gaming as a fun and enjoyable pastime. We have been in the business since 1963, and we love what we do with a passion,” she says.

Naturally, maintaining such values and passion requires that the right staff are on hand to deliver to customers, and Ms Nordin has an equal passion when it comes to recruitment. “The iGaming industry is fastpaced and we want to stay at the forefront, recruiting talent with the right mix of hard and soft skills. We are powered by people. The present and future Betssonites are the ones who will help us deliver on our vision to provide the best customer experience in the industry.

This has not changed, neither is it likely to in the future. I’d say that the typical Betssonite is very competent within his or her field, but just as importantly, our employees have a willingness to learn and evolve, which I find is key for success as is the willingness to share one’s expertise and work together with others to reach a common goal. We are focusing a 28

lot on enhancing leadership in Betsson and emphasise the ‘how’ as much as the ‘what’ when we recruit,” she affirms.

Being such a major player in the industry means that the company’s effect in employment and recruitment has had a substantial effect on the local economy.

“Malta has many perks that are positive when recruiting – the lifestyle, the weather, the interesting history and, not least, the friendliness of the Maltese people. Many Betssonites are Maltese, and with the establishment of the iGaming industry on the island, a wide range of interesting positions opened up for the local community. In addition, iGaming professionals on the island utilise local goods and services, helping the economy to prosper which in turn could provide an even broader scope of job opportunities for Maltese citizens.

“However, more needs to be done in order for Malta to stay attractive; for companies like Betsson who operate here and for the talent that we hope to attract. I’m thinking for example of better infrastructure, more environmentally-friendly initiatives and more international schools. The availability of qualitative higher education within relevant areas is also a matter where we feel more can be done to better support young Maltese in their quest for an interesting and rewarding career,” continues Ms Nordin.

On top of what Betsson itself is doing in recruitment, there is also a great deal of positivity in what happens within the larger recruitment market. “The competition for talent on the island is fierce, but that’s not necessarily a bad thing. It inspires us to up our game. We want to be the number one choice and we want to make sure that the employee has a positive experience with us from the very first contact, and throughout their career, for as long as they remain with us. It does happen that our employees get poached by other companies. However sad it is to lose a valued colleague, at the same time we see it as a testament to our ability to find the right people. It is clear that others see what we see: Betssonites are really, really good at what they do. The iGaming community is tight, and we should see job rotation as a natural part of competence building and career development.

We have quite a few rehires already, people who have tried out other companies but then

choose to return to Betsson. You can’t really get a higher grade than that,” she maintains.

To this end, attention has shifted more towards the idea of staff retention in recent years. Betsson is not alone in offering an increasingly attractive range of employee benefits, but is proud of constant innovation in this area. “Every employee is unique and we believe that it is important to recognise that what one appreciates in an employer, another may not. Therefore, we offer a wide range of benefits and competitive perks. At Betsson in Malta, we are 46 different nationalities working together and every one of our employees on the island is special to us. We constantly evaluate and develop our benefits and ways of working, and we do it with our ear to the ground; the Betsson Employee Experience forum and suggestion box are examples of ways for the Betssonites to suggest and discuss ideas to make working at Betsson even better. Of course, there are many things that we provide that are appreciated by employees across the board; health insurance, wellness allowance, relocation and loan of company apartment, a substantial induction programme, great parties and company activities. However, I believe it takes more to stand out and that’s where our amazing Betssonites and inclusive culture comes in.

“In addition, I think that what Betsson offers in terms of career development is highly appreciated by our employees. With us, you have ample opportunities to grow, not least because you are surrounded by other talented people for you to learn from. We also offer training, job shadowing and programmes within specific areas and for ‘High Potentials’. We are very proud of our successful refer a friend scheme. Great people know great people, and Betssonites are encouraged to recommend their friends for an open position with us. What better review could we as a company get than to have our employees refer their friends? It really shows that they are happy working with us and want to share their experience,” Ms Mallia states.

In the end, there appears to be little stopping Betsson’s forward march, and plans for the future are delivered with just as much passion as everything else within the company.

“The iGaming industry is definitely growing.

About 85 per cent of global gaming still takes place offline, meaning that there is plenty of structural growth. At Betsson, we have a number of interesting positions open for those willing and able to join this fascinating industry and come along for the ride. Our ambition is to outgrow the market in a profitable and sustainable manner. From an HR perspective, we are always striving to improve the Employee Experience in any way we can. We look into every step of the process, from the recruitment ad, through training and career progression, to the exit discussion, to make sure that we are competitive. For any talented professional looking for a new job, Betsson should be top of mind,” she concludes. cc JUNE/JULY 2018

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“Every employee is unique and we believe that it is important to recognise that what one appreciates in an employer, another may not.�

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Dedicated to trust While marking a significant moment in his company’s history, Trident Trust Group Malta Managing Director Albert Cilia talks Jo Caruana through the organisation’s dynamic past and exciting future.

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mportant milestones often serve as a reminder of how far we’ve come. In business, these landmark moments sometimes take the form of anniversaries – when a team has the time to stop, look back and take stock of everything that has been achieved.

For the Trident Trust Group, that opportunity presented itself this year, as the company celebrates the 40th anniversary since its founding – a truly commendable milestone for any organisation and one that highlights the remarkable strides that have been achieved during that time.

After all, over the last four decades, Trident has become a leading independent global provider of corporate, trust and fund administration services. Employing over 800 staff across a global footprint that spans Africa, the Americas, Asia, the Caribbean, 30

Europe and the Middle East, the company serves a wide range of leading financial institutions, professional advisors, asset managers, family offices and international businesses who value its combination of global resources, local expertise and boutique service.

Locally, the Malta team provides a full range of corporate, trust and fund services, mirroring the Group’s global service range.

They utilise the same technology as their international colleagues, thus ensuring consistent service delivery and enhancing the cross-border experience that their clients can expect – meaning they operate in exactly the same way wherever they are in the world.

“There is no doubt that we have a strong and identifiable culture at the heart of our business, which is very much focused on our core values of reliability, responsiveness,

Photos by Alan Carville

uncompromising attention to detail and personal service,” says Albert Cilia, the Managing Director for Trident Trust in Malta.

“We passionately believe in developing stable and accomplished teams across all the jurisdictions in which we operate, enabling us to offer our clients the benefits of their experience and continuity of relationship and service. The average tenure of our senior executives exceeds 15 years, and we also offer one of the highest levels of professional qualification in the industry.”

Highlighting Trident Trust’s relationship with Malta, Mr Cilia explains that the company opened its offices here in 2011, while he was appointed Managing Director in 2016. Today he is responsible for the leadership and development of the business on the island, along with his fellow directors Marie-Louise Zammit and Aaron Sammut.

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“We offer our clients a stable, sustainable, private partnership that will not be compromised by conflicts of interest or changes in ownership.”

Top: Finance Minister Edward Scicluna talking at Trident’s second annual event Above: The local and international Trident Trust team at the recent European conference

Together, they also work closely with Trident Trust’s European regional head, Mark Le Tissier, who has been with the Group for more than 20 years.

“We have a strong ratio of management to staff, giving both our staff and our clients the benefits of working with experienced, senior professionals,” Mr Cilia continues. “The growth in our business and our very low staff turnover – with only two people having left our team in the last 24 months – shows we must be doing something right!”

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Of course, the whole team behind Trident is proud to have reached the noteworthy milestone of 40 years in business. “Our focus has always been on building a strong, sustainable business that creates long-term partnerships with clients and staff,” Mr Cilia goes on to say, adding that the company plans to hold a number of events for its staff across the Group later this year to mark the anniversary. “We still serve clients who we worked with at the founding of our Group, and many of our staff have been with us for more than 20 years, and some even more than 30.”

Perhaps even more importantly, the Group has remained independent. At a time when much of the industry is now owned by private equity investors, or in some cases, has listed publicly, Trident is and will continue to be a privately-owned organisation. “We offer our clients a stable, sustainable, private partnership that will not be compromised by conflicts of interest or changes in ownership,” he says.

And this ethos is very much reflected in the company’s development since its early days, as well as its rapid growth in Malta over the last 12 months – especially with regards to its fund administration business, which has been built on a combination of the Group’s strong international platform and technology in this area, and the local team’s experience.

“We are also implementing an ISAE 3402 accreditation programme that will further strengthen operational efficiency,” Mr Cilia says. “Plus, our corporate and fiduciary business continues to grow at a healthy

rate, with our team winning a number of new clients. We have just moved to larger, improved offices to cater for this growth.

Now, our focus for 2018 will be to continue to develop all three core areas of our business in a sustainable manner, through providing great service and identifying the right opportunities.”

Also of note this year was the fact that Trident Trust held its European Regional Conference in Malta, which brought all of its European-based management together to discuss the business. This conference provided the ideal opportunity to further strengthen the communication and relationships between all the team members who attended. “We were also pleased to introduce our international colleagues to the Malta office, and to network with key people in the region and beyond. It was wonderful to be able to exchange ideas and thoughts, and it was a resounding success on all fronts.

The fruits of this event have already been apparent in our office,” Mr Cilia says.

Now, with 40 years behind them and exciting prospects ahead, the Trident team say they are looking to the future with energy and positivity. “We are excited to be taking on challenges and converting them into opportunities. More concretely, our local office will continue to work hard on delivering a great service to our clients. We need to ensure we are a very strong operation, with great people delivering a first-class service.

What has guided us through the last 40 years is what will guide us through the next 40!” he concludes. cc

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Tackling the issue of labour supply Malta is currently undergoing a severe shortage of labour supply across all industries. Marie-Claire Grima speaks to a number of industry specialists to find out where the most significant problems lie, what action has been taken so far, and what must be done in order to keep the economic engine humming.

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t first glance, the employment situation in Malta appears to be excellent. The country currently has the largest labour force in its history, a significant increase in the domestic supply of productive hours, the largest cohort of foreign workers it has ever had, and the second-lowest level of unemployment across the entirety of the European Union.

Despite this, Malta’s employers face a severe lack of labour supply. “Employers are in constant, fierce competition to attempt to recruit the personnel necessary for operations to adequately meet demand,” says Nigel Mifsud, Policy Executive at the Malta Chamber of Commerce, Enterprise and Industry. “They are forced to contend with decreasing productive man hours per worker due to an increasing number of vacation days and other leave allowances, traffic and JUNE/JULY 2018

many other factors. These contribute to increased labour costs for less productive hours. Furthermore, labour shortages are also encouraging employees to become less proactive, because they do not feel that their jobs are at risk and for similar reasons, employers are finding it harder to implement corrective action where and when necessary.” Mr Mifsud adds that the scale of the problem is unprecedented, with shortages being experienced across the board, in every industry and at every level.

The only short-term solution available to employers with vacancies is to resort to the recruitment of foreigners. “However, recruiting third-country nationals is a very lengthy, bureaucratic and costly process which also involves a significant uncertainty at every stage for both the employer and the applicant,” Mr Mifsud states. “Identity Malta, the national agency responsible

for the processing of work and residency permits for third-country nationals, has experienced year-on-year surges in the number of applications received. In 2017, the number of applications increased by 65 per cent compared to the previous year, while in 2018 an additional increase of 75 per cent is expected when compared to last year.”

Mr Mifsud says that the organisation faced an uphill struggle to cater for these numbers, but adds that a number of timely proposals by the Chamber prompted the required investment and improvements in Identity Malta’s operations. “In the coming months, employers and applicants alike can expect to find a larger pool of well-trained officials working within Identity Malta, together with reductions in bureaucracy linked to the permit renewal process, shifts towards online processes, as well as other forthcoming positive announcements in this regard.

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CC COVER STORY However, in the medium- to long-term, it is vital for Malta to develop towards a high value-added economy that mainly depends on skilled/educated domestic workers. A future characterised by a persistence of the present population growth is simply unsustainable,” he pronounces gravely.

Through its vast network of members, the Malta Chamber has always had its finger on the pulse of the business community in Malta. Mr Mifsud says that its close and constant relations with members provides the Chamber with invaluable insight and foresight on issues affecting any facet of a business’s operations. “Of late, the primary concern of all employers is the labour market. The country’s rapid economic expansion has led to increased demand for most goods and services, but employers are struggling to recruit the workers necessary to meet these increasing levels of demand.

In a recent report titled the Labour Market 2018 Report, the Chamber warned that the persistence of such a situation threatens the continued and sustainable growth of the country. With Malta at a crossroads in terms of its development, the Chamber felt dutybound to proactively draft a suite of policies related to the labour market, intending to provide policy-makers with context of the issues at hand and more importantly, with a blueprint on how to mitigate the threats posed by the present shortages.”

The Chamber’s proposals are primarily focused on maintaining the importance and relevance of Malta’s domestic workforce, while only resorting to foreign workers to supplement areas of domestic shortfall.

“Active labour market policies (ALMPs) have proven successful in attracting dormant resources back into the workforce, but the Chamber believes that additional ALMPs may attract cohorts wherein there still exists potential to increase employment rates,” Mr Mifsud posits. “The Chamber also acknowledges the vital role that incentives for active ageing can play due to the fact that Malta’s population is an ageing one.”

Other proposals focus on implementing best practices observed in advanced economies, such as the introduction of sector-specific working groups wherein industry experts and academic experts collaborate by forecasting the direction of the industry, identifying gaps in the labour market, and proposing workable solutions to mitigate those gaps. “The Chamber has also offered to play an instrumental role in conducting the reforms necessary in the country’s education and career guidance systems, as well as proliferating work-based learning as a way to improve the education of soft skills.”

In May, the Malta Chamber had the opportunity to present its report to Cabinet with an aim to sensitise politicians to the business community’s primary concern, to provide a list of workable solutions for 34

“With Malta at a crossroads in terms of its development, the Chamber felt duty-bound to proactively draft a suite of policies related to the labour market, intending to provide policy-makers with context of the issues at hand and more importantly, with a blueprint on how to mitigate the threats posed by the present shortages.” – Nigel Mifsud, Policy Executive, Malta Chamber of Commerce, Enterprise and Industry

both the short-term and the long term, and to explore potential avenues for collaboration. “The Chamber’s powers lie in its network, both within the business community and among political players.

That is why collaboration between the public and the private sectors via the Chamber is being regarded as the most viable way of effectively mitigating the country’s labour gap.”

On an individual scale, Mr Mifsud suggests that an effective way to mitigate workforce shortages within a company could

be to conduct a skills audit of the whole organisation. “An effective audit reveals the strengths and weaknesses of each and every team member, leading to potential restructuring to accommodate the strengths and compensate for the weaknesses.

An audit and restructuring carried out successfully, coupled with any necessary training and development, may in fact lead to a reduction in the need to recruit additional resources. Furthermore, it may also reveal that current recruitment processes and/or candidate requirements need revaluation.”

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CC COVER STORY Antoinette Caruana, Farsons Group’s Company Secretary and Group Human Resources Manager says that the current labour market in Malta is definitely an employees’ market, with employers striving hard to be able to engage people to provide company products and services to their clients. “Vacancies range from positions in logistics, especially delivery persons, to qualified finance professionals and technical people, as well as competent administrative team members. As other colleagues in the hospitality industry may also confirm, recruiting crew members and management in hospitality also has its fair share of challenges. The increasingly diverse and inclusive labour market has, however, helped to provide a much-needed labour supply, which is critical for companies to continue to grow and succeed.”

Ms Caruana argues that the manufacturing sector may find it even more challenging to attract employees compared to other sectors, which may be perceived to be more agile, more outgoing, higher payers and more fun. “But the reality is that the manufacturing industry, and Farsons in this case, is also a significant contributor to Malta’s economy. Our products, notably Cisk and Kinnie, are familiar and unique household names which potential employees as well as our current employees feel good being associated with. Farsons is also known for being a good employer. We’re here for the long term, we’re dependable, we support employee growth and development, we recognise and applaud employees’ contributions, and we actually care. We’re known for our values, which we live and foster with great pride. Our employees are at the heart of our success because, as we say, everyone makes a difference.”

Ms Caruana says that Farsons Group, as a publicly-listed, commercial company, is committed to providing shareholders with the best possible return, and strives for this return in an environment which fosters strong values of integrity, loyalty, trust and teamwork, among others. “Corporate governance and a strong HR culture and strategy aligned to the business strategy and corporate vision are key elements of the way we do things. We believe that by striving to be a desirable employer, we can maintain and even strengthen our bottom line. The conditions of employment offered to our employees, as well as the environment and culture we foster contribute to the motivation and performance of our teams.

We keep abreast of developments locally in the labour market but are also conscious of our own realities, with which we deal responsibly.”

The company believes that investment in the development, retention and motivation of people is also an investment in the Group’s performance. “We seek to ensure that our people are aware of our vision, JUNE/JULY 2018

our goals and targets, and understand that every department, and every individual, contributes to this achievement. This requires ongoing communication and a strong partnership with our people and where applicable, the trade unions. We have been proactive in introducing various HR programmes and initiatives that enable the company to perform better as our employees are more skilled, more flexible and earn more for achieving targets whilst seeking to create a more positive and ‘caring’ environment where each person matters.”

Finally, Ms Caruana says that promoting and encouraging a more inclusive and diverse labour market is critical. “We need

to always be more open and prepared for the possibility of recruiting a more diverse workforce. Diversity may bring about challenges in the workplace, but it also brings about strengths, as it reflects the reality of our society and of the market place, brings more innovation and more possibilities. Supporting more women to enter the labour market is also always on the agenda, which requires more flexibility in the workplace and in how we work. We also need to focus on the young generation – those young students who are not completing their secondary education and possibly falling out of the formal labour market.

“The conditions of employment offered to our employees, as well as the environment and culture we foster contribute to the motivation and performance of our teams. We keep abreast of developments locally in the labour market but are also conscious of our own realities, with which we deal responsibly.” – Antoinette Caruana, Company Secretary and Group Human Resources Manager, Farsons Group 37

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“In the short-term, I believe we can solve the problem of HR shortages in Malta by targeting more countries with high unemployment rates to find additional resources. In the long-term, there should be more apprenticeships in jobs for the future, including careers that are currently rare or non-existent.” – Dollsy Darmanin, Head of HR, Vodafone Malta

Stronger links between education and industry are necessary. This is not a new call and indeed one which most people would agree to. We may need to look at how we can actually do more together to give these youngsters another chance. There certainly is a need for them in manufacturing.”

Dollsy Darmanin, Vodafone Malta’s Head of HR, says that the company is finding it most difficult to fill technology- and digital-related roles, “due to huge demand from both local and foreign companies, and competitive salaries being offered by gaming companies.”

However, she says that the benefits that help ensure employee attraction and retention include “flexibility, mobile working and family-friendly measures (for both male and female employees), our policies on diversity, gender balance and LGBT+ inclusion, health and life insurance, as well as enhanced data and telephony.” Ms Darmanin says the company also does fair pay and gender pay reviews in line with benchmarking, to ensure that the company’s employees are paid fairly compared to the market average.

“The impact on our bottom line is quite hefty, but so far we have managed to retain 38

the investment in our employees. Besides, engagement and productivity have increased with the introduction of these measures,” Ms Darmanin shares. “In the short-term, I believe we can solve the problem of HR shortages in Malta by targeting more countries with high unemployment rates to find additional resources. In the long-term, there should be more apprenticeships in jobs for the future, including careers that are currently rare or non-existent, such as Artificial Intelligence (AI), Internet of Things and so on.”

Catherine Calleja, Director and Group Company Secretary for Atlas Insurance PCC Limited, says that although certain positions, especially in the fields of finance and IT, are harder than others to fill, sometimes it is more difficult to fill positions at certain times of the year. “We make every effort to provide a career path within the Group, as we find that internal moves go a long way to help staff members find a fulfilling way to experience different roles and find a career path. We have in fact had people moving from one area to another and doing completely different things – from roles as disparate as personal lines to IT, from credit

control to health claims, from health claims to finance. We do all we can to keep people who embrace our values and work ethic engaged. When you have these elements, retraining is very rarely an issue, and the previous experience at Atlas creates a significant advantage.”

Ms Calleja says that Atlas Insurance works very hard at employee engagement and has annual surveys with follow-up workshops in departments, as well as a performance management system which plugs into the firm’s training programme. “At all levels of the organisation, we encourage coaching and mentoring, and there is management support also to help management in today’s fast-moving business environment, which can be stressful. In 2017, Atlas won the Business Leaders Employee Engagement Award in its category for 2016, and we aim to continue building on this success. We also have an active social club and organise various events, offer volunteering leave, involve our staff in diverse CSR projects and so on. We also run a successful internship and talent pool programme which encourages job rotation.”

While Atlas works hard to benchmark its remuneration structure against the market, Ms Calleja says that it cannot always match the highest in every category. “It is a reality that market conditions make it impossible to retain a particular staff member in some cases, and sometimes the new opportunities created by a vacancy can lead to positive change. Having said that, we are proud to invest in so many programmes which make our work experience positive, and being part of the Atlas team an enriching experience.”

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CC COVER STORY Ms Calleja, who is also the Chairperson of the Malta Chamber Human Resources Committee, strongly believes that education is the key to solving the problem of HR shortages in Malta – both in terms of the company’s internal resources and on a national scale. “The relatively large number of young people whose skills are being lost to the industry is so sad. The Not in Education, Employment or Training (NEET) rate is at close to 10 per cent. Although low compared to other European countries, it is still such a waste of skills which we could utilise so well.

“At the Chamber, we actively support various efforts to develop our human resources as a nation and have been involved in a number of initiatives with the Department of Education, the University of Malta, MCAST and other institutions, including NGOs, working to integrate immigrants to encourage linkages between the world of education and that of industry, and to encourage more people to enter the workforce. Internships and apprenticeships are in fact increasing, and this type of relationship with students has been very successful in attracting talent and preparing students for the world of work. In addition, we run several programmes and benchmarking sessions for HR practitioners in our membership base on various HR topics designed to make today’s work experience more of a positive and engaging one, and ultimately to reduce wastage of talent.” cc

“It is a reality that market conditions make it impossible to retain a particular staff member in some cases, and sometimes the new opportunities created by a vacancy can lead to positive change.

Having said that, we are proud to invest in so many programmes which make our work experience positive, and being part of the Atlas team an enriching experience.” – Catherine Calleja, Director and Group Company Secretary, Atlas Insurance PCC Limited

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The hunt is on Finding the right people to work in your business is no easy feat. In fact, many business owners cite recruitment as one of the major challenges facing them today. Here, seven top professionals tell Jo Caruana why recruitment is central to their business.

Ben Pace Lehner page 44

Michael Warrington page 44

Francesca Ellul page 48

Robert Delia page 47

Lena Nordin page 48

Josianne Avellino page 51 JUNE/JULY 2018

Keith Psaila page 47 43

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Michael Warrington – CEO, AX Holdings Ltd The AX Group is a household name in Malta. The Group is synonymous with the local construction, hospitality, development and retirement living industries. Today AX employs in excess of 800 people from all walks of life, and their skillsets vary considerably – from master masons to experts in restoration and project managers.

For instance, at Hilltop Gardens Retirement Village we recruit people who are leaders in the care profession, while at AX Hotels we employ people with a passion for service, who are customer-focused and who know how to make a guest feel welcome. These are the people we seek to employ with the AX Group: leaders in their area of specialisation, and team players who want to work for a successful Group.

Is recruitment an important part of your business?

Absolutely. We are a fast-growing Group and are always on the lookout for talent. We look for people who want a career as well as those who want a summer job or a short work placement. We have vacancies in all sectors and at many levels. Our vacancies are always uploaded onto our website.

Why should professionals choose to work for your company?

There are many reasons, but primarily because we think long-term and because our projects are innovative and successful.

This comes from our culture – we are open, transparent and involve our key people in developing our concepts and ideas. We are very professional in our approach; we engage experts and have a strong learning culture. At AX Group, people know they are appreciated and are given the space to realise their goals and personal fulfilment. By joining our team you could help successful projects materialise.

Can you share any advice with those thinking of joining your team?

If you are ambitious, motivated and looking for a career in one of our diverse businesses, simply log onto our dedicated career websites, where vacancies are constantly updated.

Ben Pace Lehner – Director, Broadwing Ltd Broadwing Ltd is a vibrant and energetic employment agency offering recruitment and HR services based in Malta. Our focus is on attracting and placing individuals seeking work in Malta, the UK and EU member states through our online portal and an optimised sourcing, screening and matching process.

What are the main employment issues being faced in Malta’s current market?

With a steadily-growing economy and an increase in local and foreign start-ups, as well as companies setting-up shop in Malta, we’re undoubtedly facing an employees’ market. This is making it increasingly hard for companies to keep up with demand and growth due to a lack of suitable candidates, however that is not the only problem.

As opposed to ten years ago, the staff turnover rate has increased significantly, with employees being more interested in career progression, job satisfaction, and a work environment they are comfortable with rather than job security. Having spoken to a number of schools and training institutions in Malta, this is likely to continue, primarily in the accounts, finance and IT sectors, as a large number of youth are still focused on the sciences or the legal profession.

What advice can you give companies struggling to maintain a solid workforce?

While exhibiting at Malta’s first B2B Expo and Conference, we had the opportunity to speak to business owners from a range of industries, and it is becoming ever more apparent that

one of the most important factors in today’s market is employee retention. Companies need to hold on to their staff to avoid losing their talent, and a higher salary is not necessarily the answer. There are a number of ways that companies can tackle this, including setting clear opportunities for further career growth, offering ongoing training, both internally and externally, and other benefits such as study leave, fuel allowance, company meals, free mobile packages, health and life insurance, and bonuses on reaching KPIs, to name a few.

Most importantly, we encourage companies to establish open communication channels between the management and staff, along with nurturing a friendly and fun work environment.

A perfect example of this is the iGaming industry and the importance it gives to HR, which has attracted professionals from many other industries.

How can Broadwing help companies struggling to hire the right talent?

Since the company’s inception in January of this year, our aim has been to formulate unique and powerful solutions that help companies build their team in an ever-changing landscape. We have achieved this through an international network of recruitment partners which includes the UK, Denmark, Poland, South Africa and India to date. We have given great importance to showcasing Malta, and to attracting multicultural and multidisciplinary talents from around the world to relocate to Malta and seek employment.

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Keith Psaila – Director, Palazzo Castelletti Palazzo Castelletti has been open for the past four-and-a-half years and has established itself as one of the leading employers of choice within the catering industry. When we first opened we found it difficult to find staff, as we were still untested. It was a leap into the unknown. Today, I am happy that our concept sells and people like the idea of having three restaurants under one roof.

Today we employ a team of 25 people.

Is recruitment an important part of your business?

Yes, we are always on the lookout for the best employees and our search for talent never stops. We find online platforms to be the most effective, including social media.

Why should professionals choose to work for your company?

Year after year we have established ourselves as one of the best restaurants on the island, as proven by various independent reviews, surveys and food critiques, such as the Definitively Good Guide and the WRMC (Wines and Restaurants in Malta. com). Employees like to be associated with a winning formula. I believe employees (at least the high achievers) like success, and to be part of a winning team. We are a serious

employer and by serious, I mean we give a lot of importance to the HR aspect of what we do, even though that often gets given second priority in this industry. Our size – which is not that of a small restaurant – permits us to have a dedicated full-time employee who takes care of all HR issues and office administration. This is reflected in things like our on-time payments and the fact that our staff recommend us to other would-be employees. We also pay good money for our high achievers and have introduced a system of team commissions and performance bonuses. We are also very respectful in terms of working hours and making sure our staff have time off to relax. That said, we are not after just any staff; we are after the best.

Why is your industry an exciting place to work?

The catering industry is highly competitive but pleasant too. People like going to restaurants to socialise and eat out, and we like to make those special moments in their life exceptional.

Can you share any advice with those thinking of joining your team?

Be a team player, feel a sense of ownership and participate in the decision-making

process, whether it is a change of menu, the set-up of the restaurant or roster changes.

As a company, we always seek to improve and exceed our previous sales targets, and the only way we can achieve that is by challenging ourselves each and every day.

We are on the look-out for staff who like change and who like a challenge.

What would your advice to other employers be?

Respect your team because your employees are the single most important aspect of your business. They can make or break it.

Robert Delia – Human Resources Manager, Frank Salt (Real Estate) Ltd As leaders in the real estate industry, Frank Salt (Real Estate) Ltd has been providing property-related services to our esteemed clientele for the past 50 years. Thanks to the outstanding efforts of all of our qualified staff and the ever-increasing demand for property from both existing and new clients who continue to choose Frank Salt Real Estate as their preferred real estate agency, the company has recently opened a number of new offices to meet this increase, which has created an opportunity for career-driven professionals to join our successful team.

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Is recruitment an important part of your business?

Yes, we currently have a selective number of active vacancies within our Operations Division, and are seeking sales, letting and commercial consultants with a keen interest in property, and who are seeking a career within the real estate industry.

Why should professionals choose to work for your company?

As one of the longest-established, most reputable and value-driven companies in the sector, we provide our staff with more than a career – our family values are, and will remain, at the company’s heart. We provide our professionals with the necessary training and assistance to support their career expectations, while simultaneously maintaining a necessary work-life balance. This can be confirmed by the absolute majority of our staff, who have been with us for more than ten years and shared in the company’s growth, notwithstanding the various job opportunities offered in the local labour market. Among other benefits of working with us, our professionals are able to develop their entrepreneurial skills while, at the same time, shaping their career within a competitive-yetrewarding industry.

Why is your industry an exciting place to work?

Although it is one of the most established industries within the Maltese economy, the real estate industry is constantly evolving and there is never a dull day, with new opportunities arising in every segment of this industry. This ongoing growth already makes the industry an exciting place to work in itself, as it can provide one of the most rewarding careers in terms of job satisfaction and income. Moreover, the industry provides various exceptional opportunities to learn, develop and establish one’s career within our professional team.

Can you share any advice with those thinking of joining your team?

Any candidates interested in developing a fulfilling career within a dynamic industry, are willing to develop their entrepreneurial skills and would benefit from joining an established, forward-looking organisation, are invited to contact our Human Resources department. We will gladly discuss our exciting opportunities with all interested candidates.

On top of that, I would add that a career within real estate is a very valid alternative for people coming from all walks of life and professions. Anyone with a genuine interest in providing a value-added service within the real estate industry has the potential to develop a very rewarding career as a professional property consultant.

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Lena Nordin – Chief HR Officer, Betsson Group Betsson Group is one of the largest iGaming companies in Europe, with offices in ten locations. We have been at the heart of entertainment for over five decades. Gaming is what we do; it’s what we love. We are fully-owned by Betsson AB, which is listed on Nasdaq Stockholm Large Cap. When we recruit new Betssonites, we focus on competence, skills and personality traits that we believe will help us reach our company goals. It’s all about finding the right mix, the right fit – both for the team and the company at large. Diversity, to us, is a natural part of that perfect mix. In Malta, we employ 900 people from 46 different nationalities, giving our company a truly international feel.

Is recruitment an important part of your business?

Yes. At the moment we have over 100 open roles across multiple locations. These mainly fall across disciplines such as tech, marketing and gaming, as well as central functions like HR, legal and finance. Our current ‘hot jobs’ include Head of Biddable Media, Marketing Manager for Norway, SEO experts at all levels, Senior Front End Developer and CRM Solution Specialist. All of our vacancies can be accessed on our website.

Why should professionals choose to work for your company?

In the same way that our company vision is to provide the best customer experience in the industry, our vision as an employer is to provide the best employee experience. Since we are a large company within the industry, we offer ample opportunities to grow and develop professionally. Our greatest advantage is, without a doubt, our talented people. If you start working for Betsson, you will work with – and learn from – the best. As a new starter at Betsson, you are supported all the way. Our extensive induction programme includes meeting with C-level Betssonites and hearing our CEO talk about the company and our vision. You also get an introduction to our products and a tour around the island, to just name a few of the features. As an employer we do our utmost to take good care of our employees, offering competitive benefits, a stimulating work environment and a great company culture, with social activities inside and outside of the office.

Why is your industry an exciting place to work?

To work in an expansive industry like ours means that you are constantly challenged. It

is fast-paced and ever-changing; no two days are alike. That’s the iGaming industry for you, and we love it.

Can you share any advice with those thinking of joining your team?

Do it! Apply for a job and see if we are a match for each other. You won’t regret starting to work for Betsson; you’ll be surrounded by high competence and at the same time have lots of fun. We take our role as a leading employer very seriously, and feel it’s important to give back. So whether we’re hosting 100 Women in Finance, collaborating with local universities or hitting the beach for a clean-up, we don’t shy away from our wider responsibilities… we embrace them!

Francesca Ellul – Manager and Head of Malta Recruitment, NichollsMoisa NichollsMoisa is a boutique headhunting and recruitment firm with specialist verticals into financial services, start-ups and blockchain, Fintech, gaming finance, and general industry and commerce. We are based in Malta but we recruit for our clients from across the UAE, Europe, the UK and the Channel Islands. We have successfully relocated candidates from the US, Canada, Europe, UAE, Australia and Africa.

How can organisations increase their attraction rate in a competitive market?

Due to Malta’s success in attracting new businesses across a variety of industries and services, the market has developed into one that is strongly candidate-led. With the recent

industry efforts to develop a new market segment in blockchain technology, in addition to the existing core industries, Malta is competing with high profile jurisdictions such as London, Dubai, Dublin and Switzerland, to name but a few. As a much smaller jurisdiction, Malta simply does not have the capacity to create top professionals at the same speed as vacancies are occurring in the market, nor does it have a large amount of workers ready available. It’s simple maths.

Malta has a population of just over 450,000 people and London has a population of over eight million. That’s why ‘employer branding’ is so important for the local market.

What important factors contribute to an increased staff retention rate?

We have come across numerous factors that drive employees to change businesses, predominantly: salary differences, worklife balance and career progression opportunities. It is understandable that not all organisations can offer market-leading salaries and benefits, however, key factors such as growth opportunities – both in terms of skillset as well as seniority – and a supportive work environment, will certainly add to a candidate’s job satisfaction. In fact, employees are less likely to leave when they

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feel valued in their work place and where they feel they are part of an environment which is inclusive, fluid, open and based on meritocracy. Team dynamics are also crucial in creating long-term synergy and alignment.

How can NichollsMoisa help companies to recruit talent?

Talent recruitment and retention is a complex process that doesn’t start with a job vacancy and finish when someone is hired. We understand this and we work closely with our clients to help them create talent pools for key business positions, maintain and increase employee retention rates, enhance their employer branding in the market, and, in addition, to identify on their behalf the top performers in their core markets (competitors or allied industries), while acting as an ambassador of their brand in the market. This approach gives our clients increased staff retention rates (through our retained programme we have achieved a staff retention rate of new hires of 96 per cent after the first year in employment) and speed to market (average job filling time is three weeks), which directly contributes to a reduced recruitment spend (especially when considering that a replacement hire costs a business on average three times the annual salary).

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CC BUSINESS

Josianne Avellino – Senior Manager, MISCO MISCO is a leading knowledge-based independent consulting firm in Malta, set up 35 years ago, working closely with its clients across all sectors of the economy. Our team is professional, and our main aim is to create long-lasting relationships with businesses.

Our strength lies in the fact that we offer a holistic service. We assist companies in any HR project they are embarking on, such as organisation restructuring, developing the employer brand, writing job descriptions, managing employee on boarding, developing employee compensation policies, remuneration surveys and measuring employee engagement. We also deliver training programmes on a variety of topics.

So, whilst we are working on a recruitment project, we are also able to provide insight on measures that the employer can adopt to attract and retain talent. This ensures that we help clients to strengthen their team and drive the business forward. In reality, every company has its very own needs and culture.

This means that the recruitment strategy needs to be aligned with the company’s HR strategy and its business strategy.

JUNE/JULY 2018

Is recruitment an important part of your business?

Apart from providing recruitment services to our clients, we are constantly looking for individuals who share our values and complement our team. We are currently actively seeking to engage two executives to work in an HR advisory role. We are a closeknit team, so we need people who share our values of teamwork, quality and hard work.

Why should professionals choose to work for your company?

It’s all about our team. We strive to build and support our team. We value the individual characteristics of our team members, allowing them to shine, while working together to deliver results. I personally joined MISCO as soon as I left university and have gradually developed my career within it. We offer an environment that is empowering and engaging. Beyond that, it is also because of the work that we do. No day at MISCO is like another. We are passionate, ethical, and practical in everything we do. We do not settle for good work but strive to achieve excellence. Finally, our company is unique in that we offer HR services, marketing research services, marketing consultancy services, and we are independent of any other organisation in Malta.

Why is your industry an exciting place to work?

It is dynamic, challenging, and fun.

Can you share any advice with those thinking of joining your team?

We never stop learning. Learning and development are two aspects that are encouraged at MISCO, and our avenues to learn are never-ending – whether through the formal training offered to all employees, and also through our personal experiences and the challenges we face every day. We are pioneers in our fields of work and we seek to be innovative through our expertise and knowledge. cc

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CCCC COVER in IN INTERVIEW figures FIGURES STORY

IN FIGURES:

JOBS IN MALTA

3%

The unemployment rate in Malta – the second-lowest in the EU.

56%

9%

The percentage of selfemployed people in Malta.

The number of people in Malta who work white-collar jobs.

71.4% The percentage of the working age population in employment in Malta.

35%

32%

The percentage of Maltese who place themselves on the top three rungs of the social ladder.

The number of people in Malta who describe their job as manual.

43.9 HOURS

The length of the average working week in Malta.

34%

17%

The percentage of the workforce in Malta which is foreign.

The number of Maltese in employment who work in managerial positions.

The number of Maltese citizens living and working in an EU member state outside Malta.

The number of foreign workers Malta may need in the next five years to sustain its current economic growth rate.

Source: Malta International Airport JUNE/JULY 2018

Sources: Eurostat, NSO, European Commission, JobsPlus

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Source: Gozo In Figures, National Statistics Office, Malta

35,000

3.6%

CC CASE STUDY

The ongoing battle for the permanent employee FXDD have been a major Forex trading firm in Malta for the majority of the past decade, and have seen the recent tides of business dramatically change from their Valletta offices. Here, Lewis Pitcher interviews Executive Director Dr Nicola Mallia about the state of the workforce, recruitment, and the nationwide effects of one of the most dramatic shifts in the country’s history.

T

he reality of both job-hunting and recruitment in Malta has changed dramatically in recent years, as the country has rushed to adapt to a surge in new, modern industries. While this has been to the benefit of the country and many of its citizens, the effects on existing industries have been less clear-cut. Nicole Mallia, Executive Director of FXDD Malta, a company established for over two decades, with eight years in the Maltese market, has experienced this shift in environment first-hand.

“FXDD started in the US around 16 years ago. They started off as a small trading company based in New York, and then grew significantly until they ended up with offices at the World Trade Centre back in 2013.

Around the same time, the directors decided to expand into Europe, and obtained a licence to operate from Malta. I would say that’s one of their biggest achievements, setting up operations in Europe. They were a US-based company, so obviously it wasn’t an easy move,” she explains.

The American style of doing business has clearly had an impact on the Maltese branch of the company. “I think that the key philosophy of FXDD, which distinguishes it from other brokers out there, is dedication to customer service. Since this is an onlinebased business where our customers mainly only come into contact with us online, we think it is really important to offer them the best customer service possible. We offer 24/7 customer service, based in both the US and Malta, so we constantly have staff available in at least one location,” she continues.

However, this drive towards service is naturally labour intensive, and recruitment has been an ever-evolving process with increasing options from outside the company. “The first thing we look for when recruiting is an individual who can fit in a multi-cultural environment. At the end of the day, Malta’s business environment has changed considerably, to the point that the Maltese are a minority in many businesses, even in our small office. We work with our colleagues in the US, where there is a variety of nationalities, from Chinese to Arabic, and you need to have individuals who are happy to work in that kind of environment. Since I’ve been in office, this has always been the focus,” Dr Mallia affirms.

Asked to explain the extent to which the recruitment market has changed locally, Dr Mallia does not mince her words. “I don’t even think you could recognise it.

I don’t work specifically in HR but I do handle recruitment, and it’s just completely different. The level of competition and the diversity of candidates has made it, in my opinion, twice as hard to choose but three times more interesting,” she says. The reality of this shift to applicants from a much wider range of backgrounds is backed up strongly by statistics published late last year by the Malta Employers Association, putting foreign workers currently at 18 per cent of the national workforce and the figures are rapidly rising. However, whether this is positive or negative seems hard to determine.

Photos by Alan Carville

“It’s a complex question. I would say there are both positive and negative aspects to the situation. When an economy grows, it needs to have an infrastructure to support it. Demand is increasing, and the supply of labour is needed.

Of course, infrastructure is also needed to support this: accommodation, transport and so on. The positive aspect has been an increase in different cultures in the country. The quality of some services has improved and the Maltese workforce has improved with it. However there have also been negatives, namely in rent costs. I see my colleagues often struggling to find a place to live. This has a huge effect on business in general; employers have to pay employees a wage to live on, so obviously salaries have to increase, which is a substantial extra cost. The economy is growing but costs are increasing at the same time; it’s a difficult balance,” she warns.

Ms Mallia refers to the extensive changes Malta is experiencing in the labour market, changes which, she believes, seem to have altered the entire job culture locally. “Until a few years ago, one would have to stay in a job for at least three years to look respectable.

“One thing people ask for is flexibility, and work-life balance is something that is very important to myself and the company as a brand.”

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JUNE/JULY 2018

CC CASE STUDY

Today, if someone who sends in a CV has been in a job for, say, just one month, you don’t even bat an eyelid if you are a recruiter.

You could find yourself in a situation where you are so desperate for staff that you might actually consider that candidate, whereas, in the past, this situation would have been unheard of. Today it is an employees’ market.

You can have job vacancies for a year, and simply no one to fill them. You need to keep up with what the big companies are offering, otherwise you’re out of the game. We have a big problem with customer service in that regard. You train someone for six months, including external training in different sectors, and after all that money, time and effort, they often move into a completely different industry,” she laments.

Ms Mallia puts the onus squarely on employers to appeal to potential talent. “Apart from salaries, which have to be competitive first off, staff are often looking for benefits over and above wages. With the inflow of companies such as those in the iGaming industry, which have a very relaxed, modern approached to employment, financial services and investment services companies are forced to play catch up. Incentives are now more necessary rather than extra. For example, at FXDD we offer massages to our employees on a three-month basis, because we are, JUNE/JULY 2018

“The economy is booming, but cannot grow forever. Eventually, it will either explode or settle, and I would predict the latter.” naturally, always sitting down. We organise breakfasts in team meetings; we organise a lot of out-of-office events; we offer parking, which in Valletta is incredibly important.”

“One thing people ask for is flexibility, and work-life balance is something that is very important to myself and the company as a brand,” she continues, adding, “this is not just for people with children but also pets, elderly relatives or just life outside the office in general. People ask for it in interviews, it has become a standard discussion. Obviously, in the end, you can’t force someone to take and stay in a job if they don’t want to be there. It would be counterproductive. You have to create an environment the employee wants to be in, a place where they can say they are proud to work.”

One perhaps overlooked aspect of this fluidity in employment is the workplace mentality and culture left behind when staff turnover becomes so high. “When you come to work, you make friends; you often spend more time with your colleagues than with your family. So when you’ve bonded with someone, then realise that person is leaving without you knowing they were looking for

a job, it creates a feeling of betrayal. Also, you start to think ‘I might be missing out on a better job too.’ On top of this, there’s also a problem of continuity. If you are working on a group project and one of the team members leaves, you often have to start again, from the beginning. You always have to keep at the back of your mind that, if this person leaves, everyone else has to know what they are doing, which is not good for either productivity or team coordination.

You’re replicating the same work, man hours increase and costs increase with them. I don’t think people realise how negatively this can affect a business,” she maintains.

In the end, while Ms Mallia does state that the issue of rent needs to be urgently solved, and that allowances for work-life balance and parenting in particular must be a key point of development for local companies, she remains upbeat about future prospects in the area. “I’m a very positive person. Whenever there is a big change, there will always be an adjustment period. The economy right now is booming, but cannot grow forever.

Eventually, it will either explode or settle, and I would predict the latter.” cc 55

STYLE

Style Review

REVIEW

The sun is shining, the skies are blue and long days are in store.

So, what should you wear to get you from morning to night?

Rebecca Anastasi hooks you up with the latest styles and trends, so you always look impeccable – whatever the time of day!

With the World Cup starting and the French Open just coming to an end, fashion which echoes the themes and styles of the greatest sports is almost de rigueur.

T-shirts featuring choice logos, socks drawn up to the knee and bright, sporty colours reign this season as we watch our favourite sportsmen and women score!

Ted Baker

04. Sports-inspired style

05. Sparkling white

01. Stripes Add panache to your working – or leisure – outfits with stripes this season.

Vertical or horizontal, they were seen all over the spring/summer 2018 catwalks.

Go for colour, if you’re bold enough, or choose subtle in the form of pinstripes.

The ultimate in sophistication, white in summer is a perennial classic. The spring/summer catwalks featured topto-toe crisp outfits in the tone, but if you don’t favour the look, why not keep to an overall light scheme, punctuated with a pop of colour for flavour?

02. Bright yellow

06. Relaxed jumpsuits

Be like Amal Clooney and opt for yellow this season! Its citrus verve is perfect for when the temperatures start to rise. Its myriad tones, from a deep goldenrod, to a brighter lemon, can be worn to lift the mood on your office days or to reflect the sun as you’re lounging by the pool.

Jumpsuits have been on trend for a couple of years now and their popularity shows no signs of abating. This season select an all-in-one which is made of lighter – more breathable – material, and which will also let you move comfortably in the hot weather. cc

01.

Ditch the jeans this summer (though not for good) and opt for trousers in lighter material, such as linen. This casual, laid-back trend may require a bit more care and attention than the starched formalwear of winter, but it’s worth taking your ironing-board out for a look so season-appropriate.

Edition Mr

03. Light trousers

Givenchy

02.

Fashiongonerogue

03.

05.

Hugo Boss

04.

Jigsaw

06.

Jigsaw JUNE/JULY 2018

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GADGETS

Tech trends 01.

Whether a gamer, foodie, a tech-inclined kid or an aspiring drone racer, there are new gadgets out there for everyone.

Martina Said picks her favourites.

01. Dell XPS 13

02.

The computing giant released the latest version of its XPS model, which was first released three years ago, looking sleeker and slimmer than ever before. The 13” laptop boasts the captivating Dell Cinema with advanced hardware and software for a dynamic viewing experience, an InfinityEdge border which is just 4mm wide, and an 8th Gen Intel® Quad Core processor for top performance.

02. Root Learning how to code has been made simple

by Root, a newly-developed robot that helps teach coding in a fun and engaging way to children (as well as interested adults).

Besides being simple to use, it acts as an interactive coding teacher through beginner, intermediate and advanced levels of coding, leading up to problem-solving with professional languages like Java Script.

03. SUPjet Electric Standup Paddleboard The SUPjet Electric Standup Paddleboard gives you all the pleasures of paddling out at sea with less work. A built-in electric drive propulsion system allows sea lovers to relax and appreciate their surroundings while they’re propelled along on the paddleboard at an average speed of five miles per hour, for up to one-and-a-half hours at a stretch.

04.

04. UVify Draco HD racing drone The Draco series of drones by UVify has been optimised for racing, freestyling and extreme aerial cinematography. Its modular design offers the user versatility and durability, where parts can be swapped swiftly during a race, while the accurately tuned powertrain enables the drone to cut through space with speed and precision.

05. Linksquare This hand-held device makes infrared spectroscopy available for everyday use, and is sophisticated enough to capture what the naked eye cannot. Every object around us that reflects light can be scanned with LinkSquare, giving you information about the item at a molecular level, ranging from the properties and freshness of food, an analysis of its sweetness and the authenticity of medication to counterfeit detection of luxury goods.

06. 3dRudder Claiming to be the first-ever foot controller for PC games and virtual reality, the 3dRudder allows you to move through online games with your feet, freeing up a gamer’s hands to shoot, grab, pull and push, and making the user’s experience more immersive and engaging. Through various movement with the feet, a user can gain directional acceleration, adjust orientation and zoom in and out. cc

05.

06.

03.

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JUNE/JULY 2018

CC FINANCIAL SERVICES

A global vision Italian economist and entrepreneur Paolo Catalfamo has turned around financial services company GlobalCapital since taking over as Chairman three years ago. He shares his vision for the Group and for the blockchain industry in Malta with The Commercial Courier.

1. Tell us a little about yourself. What is your background and experience?

I’ve been working in the financial services industry – primarily asset management – for over two decades. I served as Deputy Chairman and CEO for Franklin Templeton in Italy and Southern Europe (including Malta), one of the largest fund management companies in the world, and in parallel cultivated my passion for teaching economics.

I was Assistant Professor at Bocconi University in Milan before going on to teach at the University of Turin, University of Miami and Villanova University in Philadelphia. I am also a board member of the National Italian American Foundation, which is the largest non-profit organisation and represents 26

60

million Italian-Americans – making it one of the powerful lobbing groupings in the US. 2. You own a company called Investar. What is its core business?

Investar is a financial group that acquires stakes in financial services and fintech companies.

3. What brought you to Malta and why did you get involved with GlobalCapital?

I was looking to acquire a life insurance company in the EU and was offered the opportunity to buy a stake in GlobalCapital.

The acquisition turned out to be more complicated than I envisaged, but I am pleased with how things have turned out. It’s a great

company with enormous potential.

4. GlobalCapital has been undergoing transition in recent years. What have been the major challenges and how have you handled these?

GlobalCapital had been a loss-making company for eight years before I was appointed to the board, and its reputation on the local market had taken a knock. To complicate matters further, the former majority shareholder, BAI Mauritius, defaulted after we signed the sale purchase agreement and we also had to pay off an existing bond.

So it was like jumping on a train at full speed.

But we managed to keep it on track and are now in a position where we can steam ahead.

JUNE/JULY 2018

CC FINANCIAL SERVICES 5. GlobalCapital almost doubled its pretax profits in 2017 over the previous year, rising to €4.8 million from €2.8 million. What do you attribute this to?

Lots of hard work! We brought costs under control, made our products more competitive, reinforced our sales team and transformed our investment strategy. To enable us to move to the next level and expand into larger markets, we recently also made strategic changes to our corporate and executive structure. This means the company is now not only robust, but also very well positioned.

6. What role does technology play in the business and what are its assets?

Technology is vital to any industry these days, but ours in particular. In the next five years, the financial and insurance services sector will undergo a cataclysmic technological revolution which will probably mean that in, say five years’ time, several of the big players in the banking, insurance and asset management business will no longer exist – as new, small and fast-moving ventures take over the market. Agility will be key, as companies must be ready, willing and able to adapt and change constantly to keep pace. It took more than a century to install a telephone in every home in the developed world, but only 20 years for a smartphone to reach two billion people in every corner of the world.

7. How do you seek to position GlobalCapital and what is your vision for the Group?

GlobalCapital must take full advantage of its relatively small size and agile structure to be at the forefront of the technological revolution. We are heavily committing resources to this area and have teamed up with some of the best software and technology development companies to fast-track the changes we need to make.

We will only be better and more advanced than our bigger competitors in Malta and larger markets if we take these steps now.

And that is where we plan to be.

8. How do you see the future for blockchain and cryptocurrencies?

Blockchain technology is the biggest revolution since the internet and will affect many businesses way beyond financial services. The most significant impact will be on the real estate, health, aviation, legal and data management sectors.

The technology is still in its infancy, and undoubtedly needs to be developed and improved, but I expect this to happen very quickly. Just a few years ago, we needed a telephone modem to connect to internet and now we are all wirelessly connected.

Technology is unstoppable, and let’s not forget that cryptocurrencies are only one of the blockchain applications around. They JUNE/JULY 2018

“Government has been very forward-looking to surf the blockchain wave, which is already reaping rewards.” are not very efficient and, at some point in time, are likely to be replaced by some other form of blockchain-based, regulated currencies.

9. What are your views on Malta’s economy?

I see a very bright future for Malta provided the successes it is enjoying at the moment are properly managed. Government has been very forward-looking to surf the blockchain wave, which is already reaping rewards and creating visibility. I receive calls from companies in California – that have no idea where Malta is – which want to come to the Blockchain Island. The biggest threat I see is the relatively small pool of talent based

here and an excessive focus on property development. Government can play a major role in handling both issues.

10. Are you here for the long-haul?

I moved my family here two years ago and brought over most of my investments as well as employing about 120 highly-skilled professionals. I expect that number to more than double by next year, in line with the growth of our new ventures; so, yes, I am definitely around for the long-haul. I am a firm believer in the island and am always proud to be its business ambassador wherever I go, especially with my associates in the US. cc GlobalCapital Plc is a public listed company and is listed on the Malta Stock Exchange

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CC make the headlines

Addressing blockchain and cryptocurrencies from a legal perspective The law is perhaps the only science in which the unit of measurement is words, instead of numbers.

It postulates change, slightly or greatly, from jurisdiction to jurisdiction based on contingent, political, historical, economic and technological reasons, although the order should probably be reversed: technology influences society and the economy, and the latter influences the law-making process.

2018 will likely see Malta as the very first jurisdiction enacting comprehensive legislation on blockchain and cryptocurrencies, which is a commendable initiative to further diversify the Maltese economy, attract foreign and promote local talents, regulate, instead of blindly embracing or rejecting technology tout-court, and strengthen the island’s role as a business hub.

At dMTV we have always embraced innovation (we were one of the very first law firms in Italy to adopt a personal computer and we chose to grow in smaller, yet very successful markets, like Vietnam and, more recently, Malta). We have experienced the challenges and advantages posed by new technologies and more recently by blockchain. A very interesting case is that of a Swiss-based blockchain – Switzerland being initially at the forefront of blockchain and cryptocurrencies regulations, as its financial services authority, FINMA, issued guidelines which were not a primary source of law but at least gave some guidance to those interested. On top of technological and fiscal implications, apart from those related to legal personality and tax treatment of tokens, more traditional legal matters arose.

The blockchain in question certifies through its system the originality of Italian products, to be sold through tokens around the world.

What about labelling, safety and consumer rights issues? What if the certified product is sold from Italy to a non-EU member state?

Downtown Singapore JUNE/JULY 2018

Photos by Federico Vasoli

By Federico Vasoli

Auberge de Castille in Valletta

Malta might soon be the answer to both new and old questions, thanks to its muchawaited legislation.

Again, because legislation is a domestic matter, although harmonised by treaties and international organisations, dMTV’s holistic and international approach and expertise help not only international businesses setting up their distributed ledgers and initial coin offerings in Malta, but also Maltese-based ones that, thanks to the intrinsic nature of DLT and ICOs, need legal and business assistance on a global scale, especially in dynamic and fast-growing markets like those of the Asia-Pacific region, where we have been active since the beginning of the century, with our own offices, licensed by the local ministry of justice in Vietnam, which allow us great exposure to the entire ASEAN economic community and Singapore in particular.

At a time of economic and political turbulence within the very boundaries of the EU, Malta represents a stable and (therefore) fast-growing economy and hub for foreign businesses looking to diversify their investments and assets, especially in Europe, and vice-versa. Its legal tradition, influenced by the Code Napoléon and British colonisation, presents various similarities, for instance, with Singapore’s company law.

The very concept and institution of trust, widely used in Common Law jurisdictions, and still looked upon with suspicion from Civil Law practitioners, is a sign of how ductile Maltese law can be and the muchanticipated legislation on blockchain and cryptocurrencies make no exception.

We look forward to assisting Maltabased clients and foreign ones alike in their international legal matters, whether innovative or traditional. cc Federico Vasoli is a lawyer admitted to the Bar of Milan, Italy, and as a foreign lawyer to the Bar of Hanoi, Vietnam. He is based in Malta and is a partner of the Italian law firm dMTV – de Masi Taddei Vasoli, with offices in Italy, Vietnam and Iran. dMTV - de Masi Taddei Vasoli, via Torquato Tasso, 8, 20123 Milano, Italy.

T: +39 02 469 4613; E: welcome@dmtvlex.com

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CC make the headlines

Why the ‘Internet of Things’ is the next big thing

By Robert Ellul Micallef, Solutions and Innovation Senior Manager at Vodafone Malta

The Internet of Things (IoT), together with Artificial Intelligence and blockchain, are three emerging technologies with high levels of investment currently being funnelled into their research and development. These technologies are set to shape the world in the coming years as the adoption of technology in business accelerates in a bid to increase operational efficiency and make businesses more customer-friendly.

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The Internet of Things, abbreviated to IoT, is a growing network of physical devices such as vehicles, home appliances and wearable technology which are connected to the Internet and are able to collect and share data without the need of human intervention. IoT has evolved out of Machineto-Machine communication (M2M) which has existed for many years and is now a mature technology. However, it is bringing the full stack together that has allowed it to become an emerging trend. The hardware sensors required to convert analogue to digital input have become cheaper to mass produce, fixed and mobile networks used to transmit data have become faster and more reliable, and analytical software has become smarter, allowing IoT solutions to process, suggest and possibly decide on business outcomes. It is the incorporation of this intelligence into devices that would otherwise be dumb, that allows them to communicate independently of humans, blurring the lines between the digital and physical worlds.

Manufacturing and logistics account for almost 50 per cent of the IoT spend, with the primary use cases being predictive maintenance, fleet management and selfoptimising production. However, in more mature markets, including Malta, IoT is driving product innovation in other areas too, such as in insurance. Usage-based insurance (UBI) is a product enabled by IoT which links the driver’s premium to their driving performance or the time spent on

the road. UBI was introduced because young customers felt that they were being charged unfairly high insurance premiums due to their age. The data monitored includes the driving speed, braking and accelerating patterns, the distance travelled, the location of the vehicle and the time when it was used. This product also encourages road safety by alerting policyholders when they brake too hard or drive too fast, prompting them to drive more carefully. Most importantly, customers are discouraged from reckless driving as they know they are being monitored and that negative statistics would increase their premiums.

As IoT becomes the basis of customer value, less data will be sent for processing to the cloud and more processing would be done on the device, with only critical data sent back to the cloud. This trend, known as 'edge computing' is gaining momentum, achieving cost reductions and driving mass adoption. Whilst IoT was initially conceived as a technology used exclusively in business applications (M2M), as the cost of integrating IoT technology into objects continues to fall, it will soon become possible to connect nearly everything to the internet. This means that IoT will become relevant to everyone’s lives, with consumer IoT devices such as Google Home or Amazon Echo Smart speakers becoming ever more mainstream. Experts predict that it will be the application of blockchain to IoT, known as the Blockchain of Things, which could eventually drive largescale blockchain adoption, once reliability, stability and tech integration issues are addressed.

The emergence of Low Power Wide Area Network (LPWAN) technologies like Narrowband-IoT (NB-IoT) will enable a whole new host of applications, as devices will no longer need to be powered by the grid but will use batteries which, with today’s technology, can last around five years in the field. The roll out of NB-IoT services from global mobile operators such as Vodafone will accelerate the exponential growth of connected devices and by 2020, it is forecasted that 26 billion devices will be connected with the global market, growing threefold from today to €400 billion.

With the dawn of the fourth industrial revolution, the IoT market of the future is set to be dominated by Smart Cities, Industrial IoT and Connected Health applications whereby people, processes, data and things are brought together creating the Internet of Everything. cc www.vodafone.com.mt/solutions JUNE/JULY 2018

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Working shoulderto-shoulder with family businesses to help them evolve and grow

By Anthony Pace, Partner, Tax Services, KPMG in Malta and Caroline Zammit Apap, Senior Manager, Tax Services, KPMG in Malta “I started from scratch… today I am proud of what I have achieved… I am 55 years old but I feel I still have a lot to contribute to the business…

I would like my son and daughter to be involved in the management of the business but I am hesitant about handing over the ownership just yet”. This summarises one of the early conversations we had with one of our family business clients with whom we have built a working relationship for the past six years.

We have listened to his concerns, needs and expectations, met his wife, children and close business advisors, and now we are at a stage where the succession plan implementation process is in its final stages. Roll forward to today and our client, who now enjoys a certain peace of mind that governance, management, ownership succession and the tax implications linked thereto have been catered for, has embarked on a new exciting project, diversifying his portfolio while we, as his advisors, are proud to be on board, once again.

This is just one example of the many exciting journeys that we are embarking upon with our family business clients. The growth and sustainability of a family business lies in the fine balance between the needs of the business and the expectations of family members. With this in mind, as independent advisors we truly believe in investing time and energy throughout our journey, working shoulder-to-shoulder with family businesses, meeting the family members and listening to their needs, fears, and expectations both collectively and individually.

Our enthusiasm for the work we do lies with the fact that working with family businesses is a learning journey. We speak and meet up with our family business clients practically on a weekly or bi-weekly JUNE/JULY 2018

basis. Building such long-term and solid relationships with our clients allows us to understand the nuts and bolts of the business and not least, the family dynamics, placing us in the best position to be able to help the family understand their options for the future, provide tailor-made solutions that are just right for that family business, and support them in making decisions that combine their aspirations, traditions and values.

We are actively involved in raising awareness of the importance of being proactive with regards to succession planning. In meeting family business owners, we become conscious that it is easy to get caught up in the day-to-day running of the business, so much so that owners often fail to adequately plan and prepare for the succession process. Our recommendation is very clear – begin the discussion early. As most of our clients learn to appreciate, a properly-considered succession plan is certainly no overnight achievement. In the last couple of years, we have seen family business founder members, who even though at first may have felt reluctant to step back from management, realise that encouraging younger generation involvement in determining business direction can only benefit the family-business dynamic, and as such they are working with us towards having a succession plan in place anywhere between five to ten years ahead of schedule. Additional time allows for better adaptation and flexibility as the business grows and shifts.

We often hear that communication is key to success. There is no better example to prove this point than our family business clients who have gained huge benefits

from this process. Bringing together the family members, listening to their needs and concerns both with regard to family and business issues, on an individual basis and facilitating the discussion around these issues among the family members, strengthens the family’s emotional cohesion or as we like to call it, the ‘family glue’.

Family businesses seek growth. With growth, governance issues become crucial.

Building on what we would have learned from our discussions with all the family members, we assist with the formulation of the family charter or constitution, a set of guidelines that will help the smooth transition of the family business to the next generation. The family charter ensures clarity and transparency, and families know what to do when disagreements arise because they would have agreed to specific procedures that kick-in in such instances.

A family charter also regulates other areas of management structures within the company, like management succession, profit distribution and the process of selling shares.

A family charter is a working document that is adapted as the business grows.

Another important consideration that needs to be taken into account is tax implications. No family business owner would like to think that upon his/her retirement or death, a good part of the wealth generated will be paid in taxes. Seeking expert tax advice in conjunction with advice on governance issues is key as some avenues are only available if one prepares and plans ahead. Passion is what drives family businesses. It’s also what inspires our Family Business Team to help drive the success of these family businesses for years to come. cc www.kpmg.com.mt 67

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Malta – the island at the heart of the blockchain world

By Malcolm Falzon, Partner, Corporate & Finance Practice Group and Alexia Valenzia, Camilleri Preziosi Blockchain Taskforce

Malta has positioned itself as a key player in the world of distributed ledger technologies (DLTs). An array of prominent blockchainoriented businesses have already announced the (re)location of operations in Malta.

Interest has manifested itself among leading cryptocurrency exchanges, digital asset exchanges and trendsetters in the application of DLTs to various industry sectors fit for harnessing the potential benefits of such technology. “Eliminating the intermediary…”, “creating immutable and incorruptible records of transactions…”, “providing a decentralised technology enabling the storage of assets in a network that can be accessed over the internet…” – these are all revolutionary features of the technology which have got the world thinking hard about its propensity to disrupt the current manner in which most industries run. But the attractiveness of DLTs does not, in and of itself, explain Malta’s allure in this space. What’s behind Malta’s claim to fame as the Blockchain Island?

The introduction of a regulatory framework and the legal certainty this brings with it are key. Operators in what is so far an unregulated sector are eagerly looking for legal certainty and the increased trust and confidence this can bring. Government is resolute on establishing Malta as a global frontrunner in DLT regulation. As at the time of writing (mid-June, 2018), the country is well-poised

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to achieving that goal, with the conclusion of the legislative process in sight. Bills published at the end of May 2018 providing for the implementation of the Malta Digital Innovation Authority Act (MDIAA), the Innovative Technology Arrangement and Services Act (ITASA) and the Virtual Financial Assets Act (VFAA) are expected to be adopted shortly.

The Malta Digital Innovation Authority will be established by the MDIAA and be responsible for promoting governmental policies which support the development of Malta in promoting itself as a hub for innovative technologies.

The ITASA will provide for the voluntary certification of distributed ledger platforms, smart contracts and/or decentralised autonomous organisations, among others, as well as the registration of service providers.

The VFAA is to be the law that regulates DLT assets including traditional digital coins, tokens and initial coin offerings. Unlike legislation proposed or hinted at by regulators in other jurisdictions, the proposed laws require that the classification of each DLT asset be assessed on a case-by-case basis. DLT assets are defined as virtual tokens, virtual financial assets, electronic money or financial instruments that are intrinsically dependent on, or utilise, DLT. Under the VFAA, certain DLT Asset-related service providers (such as cryptocurrency exchanges) will be required to obtain a licence to operate in such activities.

The Malta Financial Services Authority will be the authority responsible for overseeing the licensing of such DLT Assets. It is hoped that the promulgation of these laws will provide further legal certainty within the DLT-sphere, encouraging more entities to choose to establish themselves on the island.

Other key aspects of doing business in Malta complement the above-mentioned regulatory element to provide a well-rounded ecosystem conducive to the creation of a world-leading blockchain community based in Malta: EU membership; a reputation for stability, predictability and security; excellent levels of connectivity; a deep, cost-effective and Englishspeaking talent pool, particularly in ICT; highly competent professional services providers with easy access to regulators; advanced and highly competitive financial services sector; an openness to foreign direct investment; an attractive tax system approved at both EU and OECD level; a welcoming climate. Together with the creation of a new authority focused on promoting digital innovation, and the setting out of a regulatory framework for the

regulation of digital assets and the certification/ registration of service providers and platforms related thereto, these and other features of what has become synonymous with working in and from Malta have created a unique offering in the blockchain world at a time when cryptorelated aspects of DLTs remain under significant scrutiny in other jurisdictions.

Malta has chosen to embrace DLTs and the seismic changes which their application could bring about. Instead of turning a deaf ear to the technology’s wide-spread adoption, which in our view is as inevitable as what the world experienced with the sensational growth of the internet, Malta is receptive to industry players’ needs, fostering an environment in which DLT promoters feel comfortable operating in. This outlook, coupled with the country’s aptitude for innovation, stand the Blockchain Island in good stead in this most vibrant of spaces. cc Camilleri Preziosi is a leading Maltese law firm with a commitment to deliver an efficient service to clients by combining technical excellence with a solution-driven approach to the practice of law. The firm specialises in domestic and international transactions with a focus on corporate and commercial law and the financial services sector.

Camilleri Preziosi has set up its own Blockchain Taskforce to explore the potential application of, and legal implications surrounding, distributed ledger technologies. The firm advises local and international clients in regulatory matters, and in the prospective launch of cryptocurrency exchanges, ICOs, cryptocurrency funds and other structures pertinent to DLTs. E: malcolm.falzon@camilleripreziosi.com; alexia.valenzia@camilleripreziosi.com JUNE/JULY 2018

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NEWS Events & Initiatives

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01. Labour cost figures must include all factors contributing to non-wage expenses In a statement in April, the Malta Chamber clarified that figures quoted recently as non-wage expenses for employers in Malta were misleading.

"When calculating non-wage costs for employers in Malta, it is imperative to also include mandatory statutory bonuses paid by the employers and the contributions to the maternity leave trust fund alongside national insurance and other costs that do not render productivity. These contributions paid on the average private sector salary (according to the NSO Labour Force survey), result in a 12.5 per cent nonwage cost," the Malta Chamber said.

The statement noted that Malta’s employers had to manage with the least productive hours in Europe, as Malta enjoyed the highest number of paid vacation days among all European Union countries.

"Malta has 39 paid vacation days when counting both vacation leave and public holidays, whereas the average across the European Union is 32.5 days. Workers in Malta, in fact, enjoy 6.5 more paid vacation days than their average European counterparts."

The Malta Chamber stated that the real non-wage labour cost for employers in Malta is far higher than the figures quoted recently.

"While holding in the highest regard values of social responsibility, the Chamber notes that Maltese employers, unlike their European mainland colleagues have to contend with added costs of operating from an island, i.e. shipping in raw-materials and shipping-out their finished products, JUNE/JULY 2018

as well as the third highest energy rates in Europe besides additional costs imposed by other market frictions that are unique to Malta," the Chamber added.

02. Archbishop celebrates holy mass at the Malta Chamber Members of the Malta Chamber attended Holy Mass which was celebrated by H.G. the Archbishop of Malta Mgr Charles J. Scicluna at the Exchange Buildings at the end of April.

The mass was the first in a series of events the Malta Chamber of Commerce, Enterprise and Industry is organising to mark its 170th anniversary since its establishment in 1848.

Congratulating the Chamber on the special occasion, the Archbishop expressed his appreciation for the invitation to celebrate mass and said that the business community had a great responsibility to uphold in today’s society.

In a special message he imparted to the business community, Mgr Scicluna said that commerce in Malta ought to be an example of best practice. It should be based on the four principles of good governance, integrity, respect towards the dignity of the workers and the common good.

The Archbishop urged the business community to remain vigilant and ascertain that the root of economic growth is not based on any commercial activity that creates dependencies or reduce the dignity of others.

His Grace went on to congratulate the Chamber for the way it expresses itself from time to time on matters of social importance. “Your voice is very important,” the Archbishop said.

Concluding his homily, the Archbishop

encouraged the Chamber to continue to create an environment of trust and freedom, in which commerce could thrive.

03. Chamber delegation makes proposals to ease dire employment situation A delegation from the Malta Chamber met with Parliamentary Secretary for Reforms, Citizenship and Simplification of Administrative Processes Julia Farrugia Portelli, to discuss issues relating to visa and employment permitting procedures for foreigners, on 2nd May. The meeting which was opened by the President, Frank V. Farrugia, shed light on the challenges being met by companies, as a result of an acute shortage of human resources to fill their vacancies, as Malta is registering the lowest unemployment rates on record.

This short-term solution has offered a new range of challenges for Maltese businesses, which the Chamber discussed with the Parliamentary Secretary, proposing a number of solutions.

All proposals were well-received by the Parliamentary Secretary who was flanked by the heads of relevant entities. The meeting also discussed the facilitation of visas for international long-term and short-term students which also contributed to an important aspect of the Maltese economy.

04. Information session on the proposed Beverage Container Refund System The Malta Chamber organised an information session on how the 73

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proposed Beverage Container Refund System (BCRS) will operate on 4th May. The session was addressed by Minister for Sustainable Development, Environment and Climate Change Jose Herrera and other Ministry officials.

Members present were given a presentation on the system Government intends to introduce to collect and recycle beverage containers. The presentation was followed by a question and answer session.

A series of FAQs were compiled by the Malta Chamber following the information session and made available on the Chamber portal.

05. Malta Chamber expresses views on Equality Bill, Human Rights and Equality Commission Bill The Malta Chamber continued to contribute to the consultation process in relation to the draft legislation on equality and human rights.

Dr Matthew Brincat and Andre Fenech on behalf of the Malta Chamber met with the Council of Europe’s Venice Commission, on 3rd May, and proposed amendments to the Equality Bill and the Human Rights and Equality Commission Bill. The Venice Commission which is the Council of Europe's advisory body on constitutional matters, was tasked to compile an independent report on the said Bills as requested by the Maltese Government.

During the meeting, the Chamber’s observations and reservations to the draft bills were explained in detail. The Malta Chamber representatives explained that there existed a duplication of clauses in the case of discrimination at the place of work. Certain aspects, the

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Chamber representatives explained, were already dealt with under EIRA and other Legal Notices under the same Act.

06. Business breakfast discusses challenges of family business transfer The challenges faced by family businesses and their difficulties to survive across generations were discussed during a business breakfast which was organised by the Malta Chamber of Commerce, Enterprise and Industry in collaboration with Bank of Valletta on 8th May. ‘Successful Succession Strategies’ brought together key players and experts in the field, as well as members of prominent family businesses which managed to make the succession process a success.

For this purpose, the Malta Chamber teamed up once again with Bank of Valletta, drawing on each other’s experience and expertise in the area.

Addressing the business breakfast, Malta Chamber President Frank V. Farrugia said that family businesses were a central backbone of Malta’s economy so it was in the

country’s best interest to foster a favourable environment for family-run enterprises.

For Albert Frendo, Chief Credit Business Development Officer at Bank of Valletta, the resilience of family businesses is what sets them apart. “Managing the interests of the family and the business concurrently is no easy feat,” he said.

“The current generation inherited the business from the previous one, and its success will be measured on its effectiveness in passing on the business to the next generation in a better state, relevant and valid for its time, with the potential to grow further.” He explained that one should be passionate about the business goals, however vis-à-vis the day-to-day management of the business, a meticulous approach is required. “It is critical, though challenging, to set clear parameters between the business and the family interests.

This is the basis on which the family business is then nourished through good governance and talent management.”

Moderated by Etienne Borg Cardona, a panel discussion featuring three wellestablished entrepreneurs discussed the strategies behind the success of their

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07. business’ transition across generations.

Malta Chamber Council member Liz Barbaro Sant, Director, Alberta Group, underlined the importance of starting early in the day to plan the succession from one generation to the next. She said it was important to surround oneself with valid people at board and management level, while it was crucial for emotions to be addressed and well managed, for the successful succession of the business. She also noted that patience was key in the entire process.

Coming from one of the most iconic family businesses of the country, Louis Farrugia, Chairman, Farsons Group of Companies, said that succession was not the end. He stressed the importance of family members to further their studies, as well as for their talents to be nurtured well ahead. The Chamber former President spoke about the importance of getting expert hands on deck from outside the family circle, which according to him made the difference.

Malta Chamber former President Anton Borg, Managing Director, Eurosupplies Ltd, said that businesses ought to identify who the leaders in the family were from early on. He emphasised the importance of keeping the best interest of the business a priority during the process and avoiding the pitfalls of getting too emotional. Mr Borg warned against underestimating the future generations, as he said that it was vital for them to be rewarded handsomely in order to keep them interested in the family business.

Dr Nadine Lia from the Family Business Office provided a presentation on the instruments available to assist family business transfer.

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07. Malta Chamber launches corporate video Marking its 170th anniversary since its establishment in 1848, the Malta Chamber has launched a brand new corporate video aimed at describing the organisation’s ambitious operation. The video sheds light on how the Chamber, as an independent organisation, endeavours to promote competitiveness in Malta in various ways.

The video describes the various areas of operation of the Chamber, such as policy work, economic sectors, internationalisation, the Chamber’s participation in national bodies, as well as its effort to keep its members informed about its achievements.

The corporate video was shown to members during the annual general meeting of the Malta Chamber earlier this year.

08. Solutions to labour market challenges presented to Cabinet “The Chamber took a pro-active approach to a problem which is affecting the day-to-day operation of thousands of businesses in Malta, which are finding it increasingly difficult to identify and employ the necessary human resources for their growing operations,” said President Frank V. Farrugia as he led a delegation to Cabinet in May, to propose solutions to the current labour market challenges.

Additional active labour market policies, further incentivising active ageing, skills audits, reforms to the country’s education curricula, facilitation of recruitment of foreign nationals and an international

marketing campaign showcasing employment opportunities in Malta were among the solutions proposed by the Malta Chamber.

‘The Labour Market in 2018 and Beyond – Demographics and Trends Characterising Malta’s Labour Market and Workable Proposals To Alleviate Labour Gap Pressures’ was compiled by the Policy Unit within the Malta Chamber, with the aim of proposing solutions to the country’s policy-makers on the subject matter.

Delivering his presentation to Cabinet, Nigel Mifsud, Policy Executive, explained that the challenges most relevant to the business community, as a result of the year-on-year growth experienced by the economy, are the present labour market conditions.

“Malta currently has the largest labour force in its history, a significant increase in the domestic supply of productive hours, the largest cohort of foreign workers and the lowest level of unemployment rates. Despite this, Malta’s employers face a severe lack of labour supply, further aggravated by falling levels of productivity,” Mr Mifsud said.

“The report provides policy-makers with a blueprint of effective policies designed to ensure that the most fundamental resource required for continued and sustainable economic growth is readily available and well-equipped with the many diverse skillsets required by Malta’s economy,” he explained.

The delegation was led by Chamber President Frank V. Farrugia, who was flanked by Chris Vassallo Cesareo, Chairman of the Importers Economic Group, Patrick Cachia, Chairman of the Manufacturers Economic Group, Matthew Sullivan, Chairman of the Services Economic Group, Kevin J. Borg, Director General, Andre Fenech, Head of Policy and Nigel Mifsud, Policy Executive.

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09. "Change can either be resisted or turned into a business opportunity" “Change can either be resisted or turned into a business opportunity,” said Christian Peregin from Lovin Malta as he was addressing ‘E-Commerce in Practice – Taking Your Business to the Next Level’ on 30th May. The event, which was organised by the Marketing Committee within the Malta Chamber, aimed at helping businesses learn more about the available help to set up an e-commerce venture as well as get inspired by businesses that have been innovative in their use of digital media.

Mr Peregin explained how in an everchanging environment, especially in the realm of news and information, Lovin Malta’s overnight success was down to correctly reading the audience’s appetite for quality and diversity of content, while capitalising on new commercial opportunities that arose.

Matthew Bezzina, who also provided an inspirational account of his experience as founder of eCabs said that the use of technology gave his business the required edge to establish itself as the country’s largest player in the sector.

Understanding the market and assuring efficiency in the running of the cab service were key for the business to grow.

Welcoming guests to the well-attended event, President Frank V. Farrugia said that the Chamber took pride in providing its members with the necessary tools to help them venture into new projects, as well as hand-hold new and budding businesses.

Marketing Committee Chairperson Louis Olivieri said that the marketing needs of businesses were changing, as they reflected the changing needs of today’s society. E-commerce was in fact a natural progression of a society that was increasingly moving its activities online.

The event also featured presentations on available funds and tools for businesses to set up their online e-commerce operations.

Aldo Formosa from the Measures and Support Division within the Ministry for European Affairs and Equality explained the parameters of the e-Commerce Grant Scheme which is supported through the European Regional Development Fund.

Denise Borda spoke about the Malta Communications Authority’s work to oversee as well as support the development of eCommerce in Malta. She gave an outline of the different initiatives that the Authority is currently offering with the aim to assist businesses and individuals take their business online.

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09.

10. Private sector to propose a viable, not for profit, Beverage Container Refund System for the Maltese Islands Four national organisations came together with the principal aim of giving constructive feedback to Government on its proposed Beverage Container Refund System (BCRS) and recommending a viable alternative solution to the scheme set out in the consultation document.

The Malta Chamber, GRTU, Green Pak Coop and Green MT signed a Memorandum of Understanding and had been actively working towards finding workable solutions towards meeting the

new ambitious targets for the recovery and recycling of beverage containers.

In a statement to the media, the four entities claimed that industry and the private sector were capable of managing the system with enhanced efficiency and cost-effectiveness, whilst Government should limit itself solely to a regulatory role along with effective enforcement.

On their part, the role of the four entities in this task force would be to design a new private sector-led, not for profit, system based on current best practices in the EU, and which would provide the best service to their respective client/membershipbase as well as to the consumer.

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NEWS Internationalisation

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01. “The future of the world economy will depend directly on what China does or does not do” Addressing the launch of the first edition of the China International Import Expo on 12th April, Hugh Arrigo, Member of the Board of Management of the Malta Chamber of Commerce, Enterprise and Industry, said that the future of the world economy will depend directly on what China does or does not do.

“Today the importance of the Chinese economy is apparent for us all to see,” Mr Arrigo added.

He noted that the Malta Chamber considered China as a strong partner that provides Maltese businesses with immense opportunities on both incoming and outgoing directions and thus was supporting the launch of the expo.

Taking the podium, China’s Ambassador JUNE/JULY 2018

for Malta H.E. Jiang Jiang, said that in the next five years, China expected to import products and services worth more than 10 trillion US dollars.

“China welcomes Malta and other countries to access the Chinese market and benefit from its growth,” he said.

The Ambassador noted how Malta was a hub of commerce and shipping since antiquity and how Maltese businessmen were renowned for their readiness to innovate and explore markets.

The event was also addressed by the Minister for Foreign Affairs and Trade Promotion Carmelo Abela.

Head of Internationalisation Lino Mintoff introduced the event and explained the active role the Malta Chamber was taking in supporting and helping businesses participate in the China International Import Expo.

02. EEN Malta launches E-Commerce Guide “SMEs should seriously consider growing beyond Malta’s shores in order to develop their businesses further, test new markets and differentiate themselves from their competition. Malta’s minute market quickly becomes a limitation on a great idea, so SMEs are encouraged to consider solutions such as eCommerce, in order to grow to their full potential,” said Lino Mintoff, Head of Projects and Internationalisation, as he was addressing this year’s edition of the Single Market Forum (SIMFO) 2018/19 which was held on 19th April.

Hosted by the European Commission, the SIMFO is an annual initiative where citizens, businesses and EU policy-makers assess the implementation of the single market. The event allows stakeholders 81

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and the public to share their experience in practice and to discuss their policy recommendations for the future.

During the event, the Malta Chamber, as part of the consortium running the Enterprise Europe Network in Malta, launched an eCommerce guide which has the objective to support businesses looking to develop their business online and help SMEs expand their business into other European markets via online channels and become more competitive.

The toolkit, which is available to all businesses in Malta, gives practical insights on the eCommerce market in the European Union, how to start selling online, options of eCommerce solutions with concrete examples, as well as country fact sheets with market characteristics and tips for implementation.

03. Maltese company chosen for global EEN campaign AquaBioTech Group has been chosen among ten success stories for a promotional campaign showcasing how Enterprise Europe Network (EEN) can help ambitious companies internationalise, innovate and grow.

Marking the Network’s tenth anniversary, the ‘Ready to Grow’ campaign is a celebration of exciting and promising clients across the member countries, which today add up to over 60.

The company was chosen following a successful submission for the promotion of competition by the Maltese Consortium within the Network, constituted of Malta Enterprise, Malta Chamber of Commerce Enterprise and Industry, 82

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Malta Business Bureau and Malta Council for Science and Technology.

04. “Albania is fertile ground for nurturing trade relations” The Malta Chamber entered into a Memorandum of Understanding with its counter organisation in Tirana, Albania, during the Albania-Malta Business Forum which was held under the patronage of the President of Malta on 23rd May. The agreement outlines a series of opportunities of collaboration that can take place between the two Chambers, in view of increased commercial collaboration between the two countries.

Ahead of the signing, Andrew J. Mamo, Deputy President of the Malta Chamber, said that trade statistics showed that business between Malta and Albania was improving.

“Last year, imports from Albania to Malta increased by almost 70 per cent over

the previous year, registering significant increase in trade of salt, sulphur, stone, plastering materials, lime and cement.

There is certainly room for improvement for Maltese companies to export to Albania to improve our balance of payment,” he said.

“So it is time to take advantage of the goodwill that exists on the political and business levels to take our trade and investment figures to a higher ground,” Mr Mamo concluded.

The agreement was signed by Andrew J. Mamo for the Malta Chamber and Nikolin Jaka, President of Chamber of Commerce and Industry of Tirana.

Following the signature of the agreement, over 60 companies from a variety of economic sectors took part in over 130 meetings, as part of a business-to-business networking session which was organised by the Malta Chamber. The B2B session brought together Maltese and Albanian businesses with a view for commercial collaboration. cc JUNE/JULY 2018

CC INTERVIEW

Of demolition and development: are we destroying our architectural heritage?

It is undeniable that the construction industry in Malta is booming, with a number of large-scale projects in various states of planning and construction taking shape around the islands. In recent months and years, developers have been given the green light for the demolition of several historical properties across different towns and villages, but can this be short-sighted, and to the detriment of Malta’s economic interests, in the long run? Sarah Micallef speaks to three industry experts to find out.

“I

think I’ll hazard an unorthodox start by saying that heritage is an artificial construct,” posits Konrad Buhagiar, founding partner of Architecture Project, when faced with today’s demolition of historical properties.

Arguing that the concept of heritage took root and flourished in the 19th century, in the wake of the great social and economic upheavals brought about by the French Revolution, the architect explains that the new order catalysed the rise of the middle class, which in turn generated experiments in unification and, as a consequence, the concept of national identity. “It engendered the idea that wealth is produced by personal achievement and labour, and not by JUNE/JULY 2018

inheritance, a phenomenon that reached its peak in the second half of the last century when countries devastated by two World Wars rebuilt themselves through hard work and personal sacrifice,” he maintains, going on to refer to best-selling book Capital, in which French economist Thomas Piketty showed that such economic and social structures belong to the past, and that “we are closing the bracket on the economic tenet that labour produces wealth. Today’s dictum would be something like: wealth produces wealth.”

Bringing this to bear on the situation locally, he continues, “add to this the gradual erosion, as a result of social media that transcend traditional boundaries, of the

traditional concept of identity as determined solely by group dynamics, whether racial, religious or national, and one can understand how heritage as a container of meaning and identity is under serious attack.” Quick to point out that this does not mean that it is obsolete as a force in our society, he argues to the contrary, affirming, “the values that heritage embodies need to be re-evaluated in the light of these new economic and social developments. Heritage buildings are only perceived as a nuisance today because developers are not aware of the economic value of this asset and planners and policy makers are not prepared to shift their point of view to accommodate the imperatives of development.”

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“Sustainable heritage must become one of the main drivers behind the evolution of our cities.” – Konrad Buhagiar, Founding Partner, Architecture Project

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For Prof. Alex Torpiano, Dean of the Faculty for Built Environment at the University of Malta, his disagreement is not only with demolition, but also with other forms of what he terms defacement. “Building three or more floors over an existing heritage building is a mistaken policy that destroys the very heritage asset to be preserved,” he argues, lamenting, “streetscapes are destroyed when certain buildings are allowed to rise disproportionately over the other buildings in the same row.”

Asked whether any recent demolitions of historical properties have struck a chord, Prof.

Torpiano points out the Marsa Power Station and the ex NAAFI building as examples of “wanton demolition” he disagrees with – two modernist examples of industrial heritage the likes of which are fast disappearing on the islands. “Both buildings should not only have been retained, but used as key features in a ‘new’ Marsa,” he says. “Two years ago, my students prepared proposals for the revival of Marsa, and demonstrated various ways by which the Power Station could be converted to new uses, to spearhead the regeneration of Marsa. We presented all this to Enemalta, who listened politely; but they had already decided that the site was ripe for real estate,” he laments, going on to point out that yet, examples of how this could be done exist in places such as BelVal in Luxembourg, where “obsolete steel furnaces and an ancillary plant were preserved and used to define the heart of a new, and beautiful, urban development.”

As for Astrid Vella, Coordinator at local NGO Flimkien għal Ambjent Aħjar, while she considers there to have been “too many demolitions of valuable heritage to single out one in particular,” lists the landmark farmhouse on a Roman site at Ta’ Żbibu in San Gwann, the Cloisters at St Julian’s and the Green House in St Mary’s Street, Sliema, as recent stand outs. In the South, she points to the demolition of the Knights’ Armoury in Qormi and “one of Malta’s few remaining Arab-period structures,” a house in Ħal-Safi, which she considers “a great loss to Maltese heritage.” In Gozo, she laments, “heritage properties are being destroyed every week – Dar ix-Xemx in Nadur was a scandalous demolition. Now the Cittadella heritage house that FAA saved is at risk again.”

Asked whether the demolition of such properties could be short-sighted, Mr Buhagiar feels that “it is dangerous to divide the phenomenon of heritage and planning into two distinct camps: on the one hand, development where financial gain is of the ultimate goal, and on the other, preservation seen as a militant mission, driven by nostalgia, on the model of British 19thcentury preservation societies that still hold sway to this day.” Unless an effort is made to join these two forces, he maintains, “the ambiguities and confusion that characterise the scene today will arise. In the absence of a real vision and direction, everything goes, including historic properties.”

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CC INTERVIEW Prof. Torpiano, meanwhile, is unequivocal in his thoughts. “It is worse than shortsighted, it is suicidal. One of our key economic strengths is our tourism industry.

The environment we offer tourists is the same one we experience every day, except that, given that they are paying for the pleasure, they are even more sensitive than we are to the ugliness; for how long will people continue to pay to enjoy the Malta we are creating?” he asks.

Ms Vella expands on the tourism angle, arguing that the destruction of Malta’s heritage will undermine our long-term economic interests, since Malta’s economy depends on tourism, not the development industry which is undermining it. “Tourists don’t come to Malta to see high-rise buildings, they can go to much finer cities known for that,” she says, maintaining, “the same goes for beaches, where other places in the Mediterranean offer much better beaches. A great many of the tourists who support Malta’s economy, filling Air Malta’s seats, our hotels, restaurants, taxis and shops come to enjoy our heritage towns.”

The Flimkien għal Ambjent Aħjar Coordinator goes on to maintain that it is not enough to preserve Valletta and Mdina, otherwise once tourists have seen those, many will not feel the need to return. “I cannot see how our politicians have been so blind as to ignore the fact that the most flourishing town in Sicily is Taormina, full of luxury hotels that are fully-booked almost year-round. Taormina has based its success on offering a quality Sicilian product, preserving its heritage and landscapes with no buildings higher than four storeys, and marketing its own identity rather than trying to be a wannabe Dubai, New York, Singapore or Hong Kong,” she quips.

Speaking of how development permits are handled in Malta, particularly in relation to our architectural heritage, Mr Buhagiar believes that decisions taken by the authorities responsible for the evolution of our built environment are based on a balance of interests rather than an objective evaluation of the values at stake. “All projects are the product of a variety of ingredients from programme to budget, from community benefits to architectural value to heritage preservation. Unfortunately, pressures, especially financial ones, can, and will, easily triumph over the other components of the composition,” he maintains, adding, “there is no city or building in the world that is not driven by economic issues.”

Arguing that safeguards are not enough, because they give the negative perception of heritage as a brake to eliminate or a hurdle to overcome, he believes that heritage authorities need to educate developers and the public at large that heritage is an asset that can be exploited to increase the value, economic and otherwise of the property or JUNE/JULY 2018

“Investment in dilapidated buildings could be mobilised if their location, and their potential use, were valorised.”

– Prof. Alex Torpiano, Dean of the Faculty for Built Environment, University of Malta project. “Sustainable heritage must become one of the main drivers behind the evolution of our cities. This understanding needs to start early in a child’s learning life. Only education can reverse the atmosphere of radical pragmatism that reigns today in all spheres and all industries,” he says.

Prof. Torpiano puts it in plainer terms, stating, “the system is broken.” While acknowledging that there are many rules to adhere to, they’re full of loopholes, as to be regularly abused. “The Planning Authority has not demonstrated any appreciation of the value of built heritage assets in our urban environment. The provisions in the Cultural Heritage Act have ended up as subservient to the provisions of the Development Planning Act. The resources available to the Planning Authority are far superior to those available, for example, to the Superintendence of Cultural Heritage. There are two parallel lists of scheduled properties, one defined in the Cultural Heritage Act and the other in the Development Planning Act; no prizes for guessing which one is relevant to planning decisions and which is not,” he asserts.

“In cases where developers or architects are well-connected, Planning Authority boards ignore even outstanding heritage value, as is the case of Villa St Ignatius, the earliest major building in Balluta. This can only be attributed to corruption of the planning system, given that the Planning Authority is the body responsible for protecting Malta’s heritage,” adds Ms Vella.

How can things be tackled differently, I ask. Giving his recommendations for the treatment of historical properties, the founding partner of Architecture Project outlines economic benefits in the form of tax exemptions and Government grants, as well as national recognition through awards, competitions and coverage in the national press as providing the ideal platform for an understanding of the marketing power of heritage by the developer, as well as a more general appreciation of the heritage assets that are the object of development projects.

As for dilapidated properties that have fallen into disrepair, he believes that these require special attention, the intervention of special expertise and the care of specialised workers.

“Even here, Government aid in the form of tax rebates and grants can allow prices to be lowered, the costs associated with their restoration less onerous, and, as a result, their preservation more attractive to the developer,” he says.

According to Prof. Torpiano, “historical properties become dilapidated because they are abandoned, and because of lack of maintenance. Sometimes, this is the result of fragmented ownership, or of owners who cannot afford the costs of maintenance and upgrading. In some instances, the abandonment is deliberate, so as to pave the way for eventual demolition.” Admitting that not all properties can be saved, the Dean of the Faculty for Built Environment argues that the State and public entities should lead by example.

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CC INTERVIEW “Investment in dilapidated buildings could be mobilised if their location, and their potential use, were valorised. The state invested in the public infrastructure and urban spaces of Valletta, Mdina and Birgu – private investment in dilapidated buildings did the rest,” he asserts.

“The dilapidation must stop,” Ms Vella exclaims, pointing out that few realise that while the PA is legally empowered to step in when scheduled buildings are allowed to deteriorate, this has not been implemented.

“It is shameful that countries that are struggling, unlike Malta, appreciate and preserve their heritage buildings far better than we do; the case of Russia’s immediate post-war restoration of its palaces destroyed by the Nazis is an outstanding example,” she says, arguing that dilapidation can usually be remedied. “Chesky Krumlov in the Czech Republic is an outstanding example: abandoned for decades, its medieval houses lay in ruins until a local governor with vision started a private owners’ restoration programme. Just ten years later, the town was declared a UNESCO World Heritage Site!”

“I think that in the coming years, we will have made so many mistakes with regards to our heritage, and regretted them so badly, that we will be taking a step back and focusing mainly on remedies,” says Mr Buhagiar. “I also suspect that the major drive both locally and internationally will be towards the creation of a more responsible and sustainable architecture where the use of non-renewable sources of energy is minimised. Similarly, the value attached to ancient buildings will be so high, also as a result of a vigorous training and learning during the early years of a child’s life, that there will be no question as regards to their interest in the long-term social and economic benefits of the country.”

Meanwhile, on 18th April, Prof. Torpiano declares, a group of 22 entities, active in the area of cultural heritage, published a Declaration which demanded a different approach to the preservation of our built

“It is shameful that countries that are struggling, unlike Malta, appreciate and preserve their heritage buildings far better than we do.” – Astrid Vella, Coordinator, Flimkien għal Ambjent Aħjar

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heritage. “One of the proposals was the creation of a Heritage Property Fund that can be used to acquire key properties, put on the market by their owners, so that they could be restored in a proper way, and then put back on the market, or used for communal and social purposes. In this way, owners of these properties are not penalised, the heritage asset is restored, and the Property Fund can recover part, if not all, of its outlay,” he maintains.

Finally, on her part, Ms Vella believes that there are many ways to repurpose historical properties, mentioning private homes, offices, clubs, restaurants and boutique hotels, “which are mushrooming in Valletta and the Three Cities, yet outside those areas permits are still being issued for outright demolition of such properties.”

“What is lacking is not re-use options but political will, vision and courage,” she asserts, with a final counsel: “Malta has already lost so much to this wanton, unnecessary and preventable destruction.

What remains of this non-renewable resource should be treasured and nursed much more responsibly for the sake of our heritage, identity, well-being and our economy.” cc JUNE/JULY 2018

CC DESIGN TRENDS

Channelling tranquillity and modernity A high degree of flexibility, technology-driven design and cool colours are just some of the highlights of Melar Business Operations’ new office. Martina Said meets architects Edward Coppini and Elisa Fedeli from Parallel Architects to find out all about it.

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he clean, sharp aesthetic of the Melar Business Operations office, located within Dragonara Business Centre in St Julian’s, creates a fresh, inviting and stimulating space without being stiff – which is just the direction that Edward Coppini and Elisa Fedeli, architects at Parallel Architects, were after for this project. Unpretentious yet design-driven, the space has the visual appeal, as well as the commodities and high technology standards required by a modernday workspace.

From the get-go, the client wanted the office to revolve around the needs of the business’s core operations – that of being a 24/7 support office. “This was the first aspect that the client highlighted in the brief, and much consideration was given to the overall design of the office as a result,”

the architects explain. “Some of their top requirements were that the working area is an open-plan space, and that the acoustics and lighting inside the office are suitable for a round-the-clock workplace that accommodates a number of employees.”

Entrance to the office is through the lobby area, which also paves direct access to two independent meeting rooms. The main working area is a central, open-plan space, which includes two phone booths and a fully-equipped kitchen nearby. “The working area is the largest space in the office, with the kitchen on one side and lobby and meeting rooms on the other.

The spaces are partitioned with glass and gypsum, which were spec’d to a certain decibel in order to also be completely soundproof.”

Photos by Luca Noto JUNE/JULY 2018

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The architects collaborated with a sound engineer from the initial stages of the project in order to achieve the desired level of soundproofing, all the way through to selecting materials and installing them on-site. “Acoustics were a central part of the project – since the working area is open-plan and there are quite a few desks, and their line of work is support, the client

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wanted to minimise noise disruptions,” they explain. “Through our consultation with the sound engineer and his own acoustic studies, we were able to select the appropriate services and materials that absorb as much sound as possible, including the acoustically-treated soffits, the desk partitions and the floor carpet, which is highly absorbent.”

“Some of their top requirements were that the working area is an open-plan space, and that the acoustics and lighting inside the office are suitable for a roundthe-clock workplace.”

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CC DESIGN TRENDS

Also a priority was the type of lighting used for this project – the architects explain that they wanted the transition of light between day and night to be as seamless as possible, and so the lighting system was designed with a certain degree of automation. “The lights installed in the soffits are evenly distributed spot lights which light up the circulation areas and were installed on dusk sensors, with the aim that once natural levels of light start to drop around dusk, they switch on automatically, maintaining a lux level of light throughout the day and night.”

Additional lighting was used by way of individual floor lamps per every group of desks, so that each group can control the light intensity of that lamp as they wish.

“With quite a number of people in the office, lighting requirements may differ significantly between individuals, and so we wanted to make this lighting as customisable as possible. The lamps have the ability to increase and decrease in intensity, and also go on and off automatically. In fact, all the lights installed in the office have presence sensors so that they turn off if no one is around. The lamps may also detect the presence of people in the office and so regulate the level of light and start to dim once people walk towards them. They’re also completely mobile and can be moved elsewhere, together with the desks.”

This modular aspect of the office was another central part of the design, making it a dynamic space that can easily be changed around to accommodate the office’s needs.

The services, for instance, were passed through free-standing power poles with a one-metre radius displacement range, each one supplying a cluster of desks. “The poles have a plug and play function, therefore it’s easy for them to be moved from one area of the office to another if necessary. A number of additional points were also installed in the soffits, adding a certain degree of flexibility, JUNE/JULY 2018

which the client wanted for this project,” Edward and Elisa explain. “In fact, there aren’t many fixed elements in the office – apart from some of the cabinets, certain office equipment and the phone booths, which were designed to be open phone booths rather than closed cubicles but made with acoustic felt to absorb all sound, many elements in the working area can change their place.”

“We opted for a neutral base using grey and white for the walls and ceilings, accompanied by a palette of blues and greens for the furniture.”

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CC DESIGN TRENDS

While finished to extremely high standards, the office exudes a laid-back, light and casual look and feel, and there are many areas within it that double up as recreational spaces, such as the lobby, the kitchen and also the meeting rooms. “The style of the office is easy-going, and the client wanted it to feel homely and inviting rather than intimidating, especially since its open 24/7. That was the direction we took in terms of style, and so the choice of materials and colours reflected this and are easy on the eyes,” the architects explain.

“For instance, the wood which we used for the furniture, which was designed by us, contracted to and custom-built by Dex Workspaces, is Birch plywood – it is not a rich variety, and the edges of the cabinets were kept exposed, giving it a raw look,” they assert. “We also gave a lot of importance to the choice of colours. We opted for a neutral base using grey and white for the walls and ceilings, accompanied by a palette of blues and greens for the furniture.”

The furniture was designed using a mix of wood and colour, and all the tones of blue and green leaned towards the grey scale, making the colours soft and soothing. “Colour was incorporated into the units and loose furniture, namely the benches, the lobby chairs, lockers and phone booths. For the kitchen, we used the same kind of wood as the rest of the office, also keeping the drawers un-edged, but the inside of the cupboards and drawers were finished in green for a surprising twist,” say Edward and Elisa.

The same green was used for the kitchen counter top, backsplash and niche, which were clad in green Corian, creating a striking contrast against the all-wood kitchen. A section of the kitchen houses a soccer table, the area for which was fully cladded with acoustic foam to contain the noise, while benches and chairs were added to the dining area, also making it an informal meeting space. “All the benches are incorporated with power and data, so employees can plug in and work from there too, and the same applies to 98

the meeting rooms.”

The architects assert that, after six months of work, the client’s satisfaction with the space was the ultimate reward, but it wasn’t without its own trials. “One of the greatest challenges was coordinating the services and finishes, namely for the ceiling height, as we were quite limited with headroom, and fitting in all the services in the soffits while keeping in line with an overall soffit level was not

straightforward,” they explain. “Installing the carpet was also no easy task, however, for the installer rather than for us! We designed the pattern of the carpet ourselves, and you can say that there was no obvious logic to it.

It arrived for installation in individual tiles, some square and others diamond-shaped, and the pattern was quite tricky to follow, but the installers did a great job and the design worked out well in the end.” cc JUNE/JULY 2018

STYLE

Office Trends

REVIEW

03. Bold colour palettes

Dull and boring offices are a thing of the past. Sarah Micallef finds out how to bring your office design up to date.

01. Terrariums An offshoot of green design, terrariums have become a favourite way of incorporating a natural element within the office. The most popular among these are succulent terrariums, but other favourite terrarium plants include ferns, air plants, and carnivorous plants such as Venus Fly and Pitcher plants.

The best part about them is that they require very little maintenance, which is perfect for a busy office environment.

02. Mixing textures With office design becoming ever more minimalist and streamlined, the importance of texture has really come to the fore. Mixing a variety of textures can add interest and softness to an office space, making it more homely and comfortable. Ideas include faux or real sheepskin chair throws, acoustic fabric wall panels, beach shell wall dividers, woven rugs and handmade baskets.

Among Pantone’s eight trend palettes for 2018 is the so-called ‘Resourceful’ palette, which brings together complementary shades of blues and oranges to create a bright and fresh environment. Undoubtedly, this works best for bold businesses with a lot of youthful energy – these colours make quite the statement, so you have to be able to handle them!

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04. Dividers replace walls Individual offices have long been on the decline in favour of large open spaces, but what do you do if you still want to create an element of separation? The answer lies in dividers. Designers are increasingly using interesting alternative means to divide spaces, including bamboo walls (which bring in a natural element), display cabinets and wooden slats.

The Family Handyman

02.

05. The rise of A.I. While technology in the workplace is hardly new, the rise of A.I., particularly with virtual assistants like Siri and Alexa increasingly taking the place of human assistants, is undeniable. They can answer your questions, create to-do lists, make phone calls and schedule meetings – oh, and can even order your coffee!

06. Meditation rooms A fast-paced lifestyle brings with it the need for some down time, and more and more offices are introducing Zen areas or meditation rooms, to enable their employees to have just that. These John Lewis can be fitted with all sorts of relaxing gear, from yoga mats and hammocks to massage chairs, water fountains and indoor gardens – and as opposed to the previous point, no technology allowed! cc

04.

06.

Contemporist

Fitt

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Consort Home

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Douwzer

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CC CASE STUDY

Living the life on the high seas With their world-class luxury crewed charters and impeccablyserviced motor yachts, Azure Ultra’s first-rate nautical experiences epitomise the refined elegance of the best in the charter business.

Rebecca Anastasi talks to Managing Director and Founder Perry Newton about the tight ship they run, and what’s in the offing.

O

ver the past few years, Azure Ultra has firmly established itself as a leader in the charter business, providing high-end yachting and motorboat experiences on the blue waters of the Mediterranean. It recorded a 200 per cent increase for the 2017 season, says Managing Director and Founder Perry Newton, a vote of confidence in the shipshape conditions and methods of its boats, crew and management.

Indeed, the past two years have been characterised by well-deserved recognition from the industry. Azure Ultra was awarded two prestigious prizes at the Malta International Boats and Yachting Awards in 2017: Best Customer Service of the Year and Best Maltese Based Charter Company of the Year. Moreover, in 2018, Azure Ultra was awarded the winning prize of Unique Tour Company of the Year at the Travel and Hospitality Awards. Azure Ultra also holds a TripAdvisor Certificate of Excellence, but what makes this charter company truly excel?

“Quite simply, there is no other local company that is offering such luxurious highend yachts for charter combined with a level of service and professionalism, both on land and at sea. This is unmatched in Malta and, in fact, the Mediterranean,” Mr Newton asserts.

The company was founded in 2015 by Mr Newton, a former artilleryman from the 29th Commando Regiment Royal Artillery in Her Royal Majesty’s Armed Forces, and “the vision from the start was to make luxury yachting experiences more exciting and comprehensive, supported by the warmest, most professional and efficient customer service possible.”

The company base of Malta is integral to the running – and the success – of the company, according to the Manging Director, who credits the island with being the perfect location for a charter yacht company of this calibre. While the archipelago’s extraordinary scenery provides ample opportunity to see the blue colours of the Med, its geographical proximity to the region’s iconic coastal spots has also opened the doors to unforgettable charter experiences further afield.

“Azure Ultra makes full use of the Maltese islands and their stunning coastal locations.

Our knowledgeable crew are also able to advise clients on top destinations to visit.

This includes all the major landmarks as well as little-known gems, such as secluded beaches, sea caves, and other scenic spots unique to the Maltese archipelago.

Furthermore, we have also extended our service to Sicily, Amalfi and Corfu, and have in-depth local knowledge of these destinations,” Mr Newton continues to explain.

These first-class locales are accessed on first-rate yachts and motorboats. Azure Ultra uses the Sunseeker brand exclusively, “the ultimate in glamour, sophistication and the boat of choice for many Hollywood

“The vision from the start was to make luxury yachting experiences more exciting and comprehensive, supported by the warmest, most professional and efficient customer service possible.”

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CC CASE STUDY

“Each package is specially designed by one of our knowledgeable charter specialists to ensure all expectations are met.”

A-listers,” he states. The fleet includes a wide variety of sports boats and motor yachts, complete with fully-equipped bars, full-width staterooms, VIP double cabins, overhead flybridges, split level saloons, outside grills and much more. These are all fully-insured, licenced and owned by Azure Ultra and include the 65-foot Sunseeker Manhattan 64, a beauty of a boat able to accommodate 12 people, sleeping six, and consisting of plush interiors and spectacular decking; the 61-foot Sunseeker Manhattan 56 featuring a flybridge which gives ample space for entertainment and accommodating up to ten-day charter guests at any one time; and the 49-foot Sunseeker Portofino 46, described as ‘fun and sporty’, and featuring an outside grill, a sun pad and a hydraulic bathing platform, where guests can make the most of the Mediterranean sun and sea.

Azure Ultra has also recently added a new yacht to the Sunseeker fleet, and welcomed on board a new, fully-accredited yacht captain, to further enhance the range of products and services they offer, Mr Newton explains.

And, with prices ranging from €1,950 per day for the Portofino 46 sports boat, which hosts up to six people, going up to €4,700 per day for the Manhattan 64 motor yacht, this exclusive range is designed to provide unparallel living on the high seas. Indeed, the prices cover crew, including the boat’s JUNE/JULY 2018

allocated captain, fuel for a 30 nautical mile round trip, a serviced light Mediterranean lunch and snorkelling equipment, as well as the rarefied treat of tasting the luxury only such an experience can provide.

Moreover, the packages can be tailored according to specific needs. “Each package is specially designed by one of our knowledgeable charter specialists to ensure all expectations are met,” the Managing Director affirms. “Corporate packages are ideal for hosting professional and business activities. Alternatively, clients can charter yachts as an unforgettable venue to celebrate special occasions and anniversaries. Each charter comes equipped with a professional team readily available to assist with event planning and coordination,” he continues. Weddings, staff functions, award ceremonies, themed parties or even honeymoon charter packages are all on offer. The one thing they have in common is the impeccable service and the promise of a standout experience.

“The Azure Ultra slogan is ‘Beyond Ordinary’, and we apply this approach into every aspect of our business, right down to the smallest detail,” Mr Newton says. “The company offers an exclusive, custom-fitted charter experience from start to finish. This includes giving clients the ability to tweak their experience down to the smallest of details, from menus to destinations. This

holistic approach to our brand ensures we stand apart.”

The devil is truly in the detail for Azure Ultra, with great care and attention paid to every specific aspect. They are, indeed, the first yacht charter organisation in Malta to introduce uniforms complete with rank epaulettes and name slides, “which sets our team apart with their unique look”. But the brand’s customer service goes beyond the practical, in an effort to celebrate the exceptional and place their clients at the heart of such an experience.

“We are truly a customer-oriented company. Our goal is to give our clients a completely stress-free experience, whereby they can simply drive to Birgu marina, step aboard a beautiful yacht, and relax with friends and family on a special, luxurious charter. We take care of all the details that inevitably come with the yachting world, so that clients don’t need to fret about anything more serious than their preferred destinations to visit,” Mr Newton continues.

The company’s ability to offer firstclass experiences is due, in no small part, to the crew themselves. “We employ an exceptional full-time crew who are intimately knowledgeable about the yachts and dedicated to providing impeccable, high-end service,” the Managing Director explains.

“You just don’t get this level of commitment from freelance mariners and captains, who are typically hired seasonally. And, what sets Azure Ultra apart even more, is that crew attend regular training courses to keep up-todate with all the latest nautical procedures.”

But, sterling service does not emerge from perfunctory fulfilment of roles, and “the Azure Ultra crew truly love what they do and are proud to represent a quality brand,” Mr Newton smiles, going on to mention the 100 per cent five-star reviews on TripAdvisor, which can only be guaranteed through “engaged and committed staff which have a massively positive influence on a client’s enjoyment factor.”

But what is in the offing for the brand as the summer season begins? “Azure Ultra has recently added a new Sunseeker Camargue 50 to the fleet and we’ve welcomed qualified captains, stewards and stewardesses to the team. The long-term objective is to remain visionary, stand apart and upscale from any Mediterranean competitor while we look to broaden our reach and locations. With three boats now in the Canary Islands and one in Dubai, the next step for Azure Ultra will be the introduction of a Greek island option, which is coming soon,” Mr Newton concludes. cc 103

CC make the headlines

Ensuring your office is a magnet for talent Talent is difficult to keep. Only the best employers attract and retain the best talent. Your office environment can play a big part in this. How you choose your office interiors will tell your visitors, interviewees and business community a lot about your company ethos and culture.

This is why a lot of companies are creating a hip look to make their working environment fun. But injecting colour and fun pieces is the easy bit. The true perks come from the way a workplace feels, not just the way it looks. So, what can you do to make sure your office is a magnet?

Taking steps to further improve the office health of your employees is what really tips the scales. We all know that it is not healthy to be seated at your desk for hours on end. The latest standing desks are a great way to show your employees that you care about their health. This shows that you are ready to invest where it matters. They have been proven to provide a long list of health benefits.

Healthier employees are bound to be happier employees, so a standing desk is definitely a great investment. We at Bsl Lifestyles strongly believe in promoting a healthy environment in the office. We have a large range of electronically adjustable desks and ergonomic desking solutions.

For those who care about their health but cannot find the stamina to stand all day, an electronically-adjustable desk might just do the job. Adjustable desks used to be difficult to manoeuvre, but with the latest technologies, desks can now be adjusted at the press of a button, or even via your

mobile. Adjustable desks help anyone find the right position to avoid back and neck pain.

Both standing and adjustable desks come in a range of colours to add to the fun look of your office.

Remember, if you treat your employees well, they will treat your customers well in return, and your company will grow stronger. cc

decisions at scan time, Scan2x allows users to concentrate on the particular business process at hand. Furthermore, Scan2x is often able to make a positive contribution to the business process by utilising information present on the documents being scanned to perform checks and queries or trigger events.

Nick Camilleri, Managing Director of Avantech, says, “Canon’s inclusion of Avantech’s Scan2x software into their panEuropean product portfolio is testament to our market relevance, quality and innovation in the field of intelligent document capture. We are proud to welcome Canon as resellers of our product across Europe, Africa and the Middle

East, and we look forward to further expansion together.”

Markus Naegeli, Canon’s Executive Vice President of Business and Information Services, says, “we are pleased to partner with Avantech and strongly believe that Scan2x greatly enhances our solutions portfolio. As a result, we will be able to serve an even larger number of customers and vertical markets, such as the banking sector, offering more targeted and tailored document-processing solutions.” cc

If you want to attract and keep your employees happy this year, contact us on T: 2138 2601; E: info@bsl-lifestyles.com and get your office healthier with standing or adjustable desks.

Avantech signs distribution agreement with Canon Europe Avantech recently announced the signing of a distribution agreement with Canon Europe for the sales of Avantech’s Scan2x intelligent document capture solution across Europe, Africa and the Middle East.

Scan2x is an all-in-one intelligent document capture terminal designed to streamline and automate the process of scanning documents into digital storage from paper or digital images. It allows administrators to create fully user-customisable scan job buttons, thereby insulating users from complexities like scanner settings, image destination, indexing, compliance and document validity.

The system is designed for use in a standalone or networked environment much like a person uses a cash machine or airline check-in kiosk.

Scan2x will continue to function if network connectivity is lost and all image processing takes place in the background to ensure a smooth and fast user experience.

By automating all but the most basic of JUNE/JULY 2018

Further information about Avantech is available at www.avantechsoftware.com 105

CC make the headlines

The core value of customer care and satisfaction Manuel Scicluna owned two grocery stores and one nightclub in the mid-1950s. He was an avid entrepreneur for his time, operating with limited tools.

Grandson Nick recalls Manuel’s stories with a sparkle in his eye. Manuel’s main concern, he shares, was to ensure that his customers received the best possible service, and that he had a very organised business set-up. At the time, his main clientele were civil service officers, so expectations were very high.

Today, over 60 years on, Computer

Contactless payments spell benefits for merchants

By Ivo Camilleri – Executive Electronic Banking, Bank of Valletta Wireless technology has become pervasive in all aspects of our lives and is now making significant inroads in the world of payments. Maltese consumers have started to experience the benefits and convenience of contactless payment technology, with most banks in Malta starting to issue contactless cards.

Bank of Valletta is at the forefront of this transformation, with a programme that sees all chip-and-pin cards being replaced with contactless over a period of 12 months. The bank is also actively replacing card payment terminals at merchants and retail outlets with versions that accept contactless.

With additional functionality, this new generation of contactless cards offers benefits to the cardholder. Customers make payments simply by touching their card to a payment terminal. Once the card has been touched to the terminal, a little antenna

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Labelling Systems Ltd retains its commitment and passion for the industry within which it operates, providing its customers with top-quality hardware and consumables, and most of all, an excellent service.

The core of the business is labelling printers and barcode labels to suit any business set-up, ranging from manufacturing to wholesale and retail, and even the services industry.

The company invests in top-quality products and services. By way of example it makes use of data capture applications for stock-taking and ticketing using highend products and modules to suit each customer’s individual requirements.

CLS also offers POS hardware, accessories and software solutions for both retail and hospitality businesses. Moreover, it provides anti-theft solutions geared

reads the signal from the card and processes the payment. Payments of up to €20 for Visa and €25 for Mastercard can be processed without having to enter the PIN. Contactless payments spell benefits for the merchants as well. It is estimated that a contactless payment transaction is 60 per cent faster than cash and conventional cards, resulting in shorter queues at the cash point. The card also lends itself to increased sales, as customers no longer need to limit their expenditure to cash at hand, regardless of the payment amount. As with all card payments, the risks to the retailer are lower than other payment types since no cash is exchanged at the till.

Bank of Valletta offers added benefits through the option of cash-register integration. With this service, the cash register at the cash-point can be linked to the BOV card payment terminal. Thus, an amount keyed-in on the cash-register is automatically displayed on the card payment terminal, ready for payment. Cash register integration makes contactless payments even faster and safer, and the cashier does not need to deal in cash or key in the amount twice. With summer fast approaching, venues that see a high number of payments in a relatively short span of time stand to benefit greatly from this innovation.

Another option is the use of wireless card payment terminals. These terminals rely on either Bluetooth or GPRS technology to offer card acceptance mobility. Whether serving

towards all aspects of protecting stock in the retail environment.

Other products within the company’s portfolio include weighing and packaging solutions, loyalty card printers, pricemarking and various retail accessories.

Computer Labelling Systems is, and will continue to be, committed to its mission statement whose core value is ‘customer care and satisfaction’. cc Visit our new website www.clsmalta.eu

drinks round the pool, or accepting payments at the coffee bar, contactless payments in these situations aid productivity and reduce waiting time.

Successful businesses know that a good customer experience means providing as much convenience as possible. Bank of Valletta card acceptance services have been designed to make the merchant’s experience as positive as that of card owners, enabling the merchant to be more efficient whilst opening new opportunities for additional business. cc Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking in terms of the Banking Act (Cap.371 of the Laws of Malta).

JUNE/JULY 2018

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Q2 New Waterfront Homes The beautifully-designed Q2 apartments, which form part of the award-winning Tigné Point development, are located at the water’s edge, boasting an abundance of natural light due to their proximity to the sea.

Combining form, function and stylish innovation, the Q2 apartments offer open-plan living areas finished with the finest materials and a variety of bespoke features. Well-proportioned terraces designed to maximise sea views and outside entertainment, complete them. The sleek interiors, designed by one of Malta’s leading

architectural and interior design firms, Martin Xuereb and Associates, are inspired by the sea, the light and the tranquil setting of the location at the edge of the Tigné peninsula, resulting in a design which is both timeless and contemporary.

This exclusive location right on the seafront and the panoramic promenade elevate these units to a whole new level of luxury and convenience. Take in the stunning waterfront views from your own terrace, swim a few laps in the residents’ swimming pool or simply unwind at one of Pjazza Tigné’s restaurants or cafés.

The block is also strategically situated next to The Centre, a state-of-the-art business

block, which is fast establishing itself as a leading business hub. And with Tigné Point conveniently located right in the heart of Sliema, and so well connected to all of Malta, Q2 truly offers a unique lifestyle which embraces today’s way of working and living.

The final Q2 apartments have now been released on the market, providing a variety of layouts ranging from three- to four-bedroom seafront apartments and two- to threebedroom south-facing apartments. cc For further information or to book an appointment for a viewing, interested parties can contact the Tigné Point sales office on T: 2065 5510; www.Q2.com.mt

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The great escape The business week comes to an end.

You’ve worked hard. You’ve put in the hours to enjoy the finer things in life.

It’s time to step out of the office and step onto your very own chartered Sunseeker yacht. With the cool sea breeze on your skin and an iced drink in hand, work is now a world away.

Welcome to Azure Ultra – your gateway to bespoke luxury yacht experiences. Whatever the occasion, Azure Ultra can help you plan the perfect boating getaway. Take a welldeserved break and recharge on the soothing seas, while an exceptional crew takes care of your every need.

Azure Ultra understands that your leisure time is precious. It should never be more work.

That’s why all the time-consuming admin that inevitably comes with chartering a yacht is completely taken care of. This frees you up to enjoy quality time with family and friends on an unforgettable adventure backdropped by the sapphire Mediterranean Sea. No Azure Ultra experience is ever the same, as each trip is tailored around your personal needs. Create your own menu and pick out your preferred champagne. Or leave it all to a

Maltese celebrity chef. Roll out a map of the Maltese archipelago and let the captain know where you wish to anchor. Secluded coves.

Isolated beaches. It’s always your choice.

And if you really want to escape the bustling island, you can even sail to scenic southern Sicily.

With a 100 per cent record of five-star Trip Advisor reviews and multiple awards

including MIBYA Best Customer Service 2017, Azure Ultra will transport you beyond the ordinary. cc Contact an Azure Ultra charter specialist today to design your perfect luxury yacht experience. T: 2778 2500; E: charters@azureultra.com; www.azureultra.com

CC INTERVIEW

The consequences of the office-chair lifestyle In a digital world where office workers are spending hours on end at their desks without hardly leaving them, they are running the risk of becoming a fixture more than a moving part of the machine. Lewis Pitcher asks leading physiotherapist Sam Bonnici to shed light on ways to challenge a sedentary lifestyle.

Photo by Alan Carville JUNE/JULY 2018

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O

ne of the few unquestioned pieces of scientific information globally is that, fundamentally, humans are creatures designed to run, jump and generally be in motion. Every part of the human body is geared towards mobility, and yet in recent times, humanity in general has slowed down, in many cases almost to a halt. The consequences of a more sedentary lifestyle are wide-ranging and all the more prominent in modern society, where the office and computer have become the standard hub of activity.

With over 16 years of experience in the field of physiotherapy, Musculoskeletal and Sports Physiotherapist Samantha Bonnici is very familiar with all manner of physical issues and their sources. However, the proportion of clients who come to her from industries not usually linked to manual work has climbed over time. “There has definitely been an increase in physical ailments related

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to sedentary lifestyles. Unfortunately, nowadays adults tend to work longer hours and do much less physical activity due to a busier and more hectic lifestyle that does not warrant sufficient time for physical activities.

We have also seen an increase in teenagers and young adults who spend too long a time sitting in front of a screen with minimal physical activities, and this then results in a multitude of physical problems,” Ms Bonnici says.

This rise in the amount of health issues linked to lack of exercise is not solely a local issue. Many health services globally have reported rising amounts of medical cases linked to physical inactivity, manifesting themselves in a wide array of ailments. The British Heart Foundation (BHF) reported last year that one in six deaths globally could be linked to high levels of inactivity, and the links between the strength of the immune system and levels of exercise are well known.

“It is estimated that office-based employees spend about 80,000 hours sitting in their lives. This increases the amount of physical problems, which results in a higher number of sick days and therefore a loss of workplace productivity.”

JUNE/JULY 2018

CC INTERVIEW

Increase working health with Sam Bonnici’s suggested steps, workable in most businesses. } Teach employees to vary tasks during the day to encourage a change of posture.

Plan your day well and alternate sitting down activities with other tasks that require less sitting. } Ensure a standing-friendly culture at work by introducing standing desks and encouraging a standing meeting area. The use of headphones enables various types of workers to stand up whilst taking calls. } Use iMails: walk over and talk instead of emailing colleagues. } Use the stairs instead of the lift where possible. } Eat lunch away from your desk. Preferably get out of the building and incorporate a short walk into your lunch break. } Provide showers and changing facilities to encourage workers to cycle/walk to work. } Remove bins, printers and water systems from individual offices or desks and move them to a central area to encourage people to walk and stand more often. } Organise a weekly yoga, Pilates, Zumba and/or HIIT (High-intensity interval training) class and encourage people from all levels to attend regularly. } Increase breaks and encourage standing up, walking and generally moving the body. } Organise standing (or walking) meetings.

Photo by Alan Carville JUNE/JULY 2018

“The WHO (World Health Organisation) has officially recognised physical inactivity as one of the top 10 leading causes of death and disability. A sedentary lifestyle doubles the risk of heart problems, type 2 diabetes, obesity, increases the risk of certain cancers and risks of high blood pressure, osteoporosis, depression and anxiety,” the physiotherapist continues.

While these cases are most often linked to a more severe lack of exercise, even less habitual inactivity can lead to a range of conditions, and as Ms Bonnici explains, many of the activities connected to office life can be to blame for this. “The most common physical complaints are neck pain and back pain, which are mainly due to excessive time spent sitting. These can also be present with nerve pain or what is commonly known as sciatic pain. We also see several RSI (repetitive strain injuries) in the upper limbs such as tennis elbow and carpal tunnel pain that are due to long hours of typing and using a mouse. Neck pain, headaches and jaw pain are also commonly seen in typists and people who work with more than one screen and spend a lot of time working on a computer,” she affirms.

One of the largest groups affected by these issues are people who work in managerial positions, as executives naturally spend less time moving about the offices than many of their employees. This, combined with other common damaging factors, such as the stress that inherently comes with such positions and dependence on unhealthy food necessitated by lack of time, could create a dangerous cocktail of issues. However, unlike the other issues, low activity levels can be far more easily remedied. The WHO puts a minimum activity level for adults under the age of 65 at 150 minutes a week of moderately intensive activity, or 75 minutes of high-intensity exercise. It also states that even minor amounts of movement can contribute to a significantly better quality of life in general.

While there is clearly some personal responsibility for making sure that enough exercise is included in each working week, Ms Bonnici feels that companies should also shoulder the task to some degree.

“I encourage companies to review and revise their employee’s job and task design to minimise sitting as much as possible.

One of the largest groups affected by these issues are people who work in managerial positions, as executives naturally spend less time moving about the offices than many of their employees.

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Ensure a standing-friendly culture at work by introducing standing desks and encouraging a standing meeting area.

Research in Australia (referring to a 2012 study published by VicHealth) has shown that 30 minutes daily exercise is ineffective if counteracted by long hours of sitting during the day. Therefore, the key message here is to aim to reduce prolonged sitting as much as possible during the day,” she maintains.

The benefits of taking control of countering sedentary habits in businesses are extensive, for both companies and the wider economy. The BHF estimates the global cost to public health services generated by cases linked to physical inactivity at a staggering £35 billion each year, and the knock-on effect on the global economy is estimated at an incredible £42 billion (about €48 billion). “It is estimated that office-based employees spend about 80,000 hours sitting

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in their lives. This increases the amount of physical problems, which results in a higher number of sick days and therefore a loss of workplace productivity. Research has shown that increasing work breaks and providing a more standing-workplace culture does not result in a decrease in productivity (Pandem P. et al, 2016), and has huge benefits for the workers,” Ms Bonnici continues.

Malta, like many other small island nations, is more prone to citizens leading overly-sedentary lifestyles due to inherent reductions in mobility. WHO statistics for Malta list coronary heart disease as the cause of almost a quarter of deaths nationwide, a condition with physical inactivity listed as one of the key causes.

For this reason, it can be necessary to

change entire cultures to combat the issue, including those within the workplace, and in particular, with more traditional-style systems.

A few minor adjustments to the amount of mobility in the office can make a significant dent in the time spent sitting during the day, with exercise classes comprising a large portion of the WHOrecommended exercise time per week.

More importantly, most apply to employees up and down the entire career ladder, all the way from managers to interns. Overall, even a little activity is better than none, and it could be the smallest changes that have the biggest effect on individual health, overall staff health and, as a result, the health of the company as a whole. cc

JUNE/JULY 2018

Food Trends

05. Homemade condiments Shop-bought condiments are known to contain all sorts of things that may not be so good for you, with one tablespoon of ketchup having the equivalent amount of sugar as a chocolate chip cookie! The natural reaction? Making your own condiments, of course! Pegged as one of the hottest trends this year, restaurants and households are set to turn to homemade varieties.

From condiments to infusions, Sarah Micallef discovers what’s hot in food.

01. Specialty teas If you like nothing better than a steaming cup of tea, we’ve got news for you! While coffee shops are nowhere near losing their popularity, tea bars are also starting to become a thing, with sales of herbal and green tea on the rise. This is certainly good news – tea isn’t just a comforting drink, but can be really good for you, too!

06. Date syrup

02. Plant-based protein With vegan and vegetarian diets on the rise, it’s no surprise that chefs are increasingly turning to plant-based proteins, incorporating everything from tofu to tempeh and quinoa in their dishes. This year’s looking a lot more meat-free than previous ones.

03. West African food Cuisine from West Africa and Ghana in particular are experiencing a surge in popularity in the UK and US. With dishes like grilled tilapia and gingery Scotch bonnet stew appearing on menus, the influence is en route to becoming a trend, and dairy company Yeo Valley has caught on: hang in there for their limitededition baobab and vanilla yoghurt.

FOOD&WINE

Thanks to the rise of specialty diets like Paleo, Keto, and Whole30, people are constantly on the look-out for sugar alternatives. Enter date syrup. A naturally sweet alternative to honey that’s vegan to boot, it’s also rich in potassium and iron, and is ideal for replacing maple syrup on pancakes, or in your yoghurt or oatmeal. Might there also be room for local favourite, carob syrup? cc

01.

Chelsea Market

03.

04. Non-traditional cuts While plant-based diets are on the rise, that’s not to say that meat’s been cut out completely. On the contrary, food predictions list meat as just as crucial, with a rise in previously overlooked, non-traditional cuts of meat gaining popularity. Think shoulder tender, oyster steak, Vegas strip steak, and Merlot cut.

02.

Ascension Kitchen

Food Gawker

Soulful Food Co.

04.

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Recipe Tin Eats

05.

The Pioneer Woman

06.

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CC make the headlines

Adding another line to our services: EU funding and support guidance At Firstbridge, we are actively working with several enterprises to facilitate initial set-up through to maturity. Our team of experts provides a range of tailored financial services to support businesses and organisations in efficiently and effectively reaching their business objectives.

This year, we are extending our service lines to businesses and individuals who require expert advice and guidance to avail themselves of grant programmes and financing opportunities.

Our aim is to incentivise SMEs to establish themselves and adapt to become resilient in facing market challenges. Whether you would like to bring to life an innovative business idea or to introduce a product or service to the market, we are there to serve

you in support of grants identification. This will also allow you to expand the business visibility in international business promotion fairs and also to actively assess the possibility of participating in international markets.

There are several EU funding programmes covering a range of projects and/or businesses. If you would like to learn about the current schemes, or would like to access any EU funding, we are ready to assist with identifying the appropriate funding source for business ideas, developing project ideas into funding proposals, processing applications for EU grants on your behalf and ultimately providing you with guidance after your application goes through successfully.

If you are ready to pursue a dream to start your own business idea, we can assist in the set-up and provide you with expert guidance throughout the whole process. We are also able to provide you with timely updates on grants and incentives available at a point in time. Most importantly we will provide you with a structured approach through a business plan to ensure the idea is viable and makes business sense.

For many SMEs, growth is an essential business objective, especially with market demands requiring active response from enterprises to sustain their competitiveness and consequently thrive. Should you need to

expand, we can take you through growth and continuity schemes to help you do just that.

Our team at Firstbridge can help you identify your goals and empower you to reach your potential through the several EU funds and schemes available from which you can benefit. Therefore, if you’re innovative and ready to take the leap, all you need is someone with relevant experience pointing you in the right direction. Let us be the ones to guide you and assist you to realise your objectives. cc T: 2132 2118; E: info@firstbridge.com; www.firstbridge.com

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HSBC first bank in Malta to launch Face ID technology HSBC has become the first bank in Malta to provide corporate customers access to the HSBCnet mobile banking app using facial-recognition technology, speeding up the log-in process and increasing account security.

Another first for HSBC Malta, following the launch of Touch ID and contactless cards

The launch marks another first in local digital achievements for the bank, following the introduction of Touch ID for iPhone users in February 2018 and contactless cards for Premier customers in October 2017.

Clients can now use Face ID to log into the bank’s award-winning HSBCnet mobile app, which already offers Touch ID log-in. The new functionality speeds up log-in times to less than a second.

HSBC Bank Malta Head of Commercial Banking, Michel Cordina says, “being innovative with the use of cutting-edge technology is part of our strategy to grow the business and continuously improve our service to our clients. We continue to invest in Malta to ensure that our local business customers benefit from the latest technology such as biometric means for self-authentication on mobile apps like HSBCnet.”

HSBC is already one of the world’s biggest users of biometric technology for financial services. Customers can use Touch ID fingerprint-recognition, voice recognition and ‘Selfie ID’ to log in with a photo. Some of these features will be rolled out in Malta in due course.

HSBCnet is the bank’s award-winning internet banking service for all its business customers. It’s designed around the three

concepts of efficiency, convenience and control.

Face ID technology works by recognising facial features, analysing over 30,000 reference points to create a ‘depth map’ of the face. HSBC’s Face ID log-on connects the bank’s mobile application programming interface (API) securely to the phone’s software to authenticate the user – with less than a one-in-a-million chance of mistaken identity.

HSBC incorporated Face ID as part of its ‘Digital Transformation for Corporates’ (DTC) programme, which is designed to build and develop a customer-centric digital banking experience.

The first smartphone model to support Face ID is Apple’s iPhone X. Almost a fifth of current HSBCnet Mobile customers on Apple phones are already using it. The bank’s Touch ID option will remain available on smartphones that can scan fingerprints.

In addition to Malta, Face ID is available in 24 HSBC markets with another 20 to be added later this year. cc For more information about how to log on to HSBCnet using Face ID, go to: www.gbm.hsbc.com/hsbcnet-mobileapp-with-faceid and www.gbm.hsbc.com/ hsbcnet-mobile-app

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Ensure your compliance team is working at optimal efficiency An essential part of a KYC and AML compliance solution is transaction monitoring – software designed to oversee customer transactions in real-time or on a daily basis, as well as detecting any possible risks hidden in business relationships.

The need for a reliable compliance system is becoming more and more urgent in order to prevent financial crime and fraud from spreading, which means that transaction monitoring is now no longer optional but a necessity.

AXON enables you to automate and optimise your regulatory and compliance functions by tracking and reporting on critical data in real-time. This provides a major benefit in time-saving, versus a manual process where you are limited to performing individual checks on each data source.

The importance of AML transaction monitoring An AML transaction monitoring solution is meant to identify and prevent any ongoing transactions that may lead to fraud, financing of terrorist organisations, and money laundering. Proper risk analysis is carried out by using adequate KYC procedures to gather information, then AXON uses its rules engine to build scenarios for monitoring transactions. This is how AXON achieves full automation and a smoother transaction monitoring process.

Automated AML transaction monitoring AXON offers a complete ongoing monitoring solution through the profiling and analysis of customer behaviour from a transactional perspective. It constantly checks customers in real-time to meet AML requirements on threshold of deposits or withdrawals.

Furthermore, the payment method and deposit or withdrawal values are utilised to drive logical checks and the related triggers to the KYC system. This provides your compliance team with a single place to manage all the data related to KYC activity for your entire customer base. AXON also takes into consideration the current KYC status and level of documentation attained on each customer to only trigger notifications when required.

Suspicious information and raising alerts When a suspicious transaction is identified, AXON is designed to alert the compliance team to review and reassess any potential risk. In doing so, it reassures companies and regulators by giving them extra confidence in their compliance process. Advanced checks such as beneficiary monitoring are provided via access to watch lists and PEPs whilst the system can also be customised to include validations and various AML checks. cc If you’re interested in learning more about AXON’s AML transaction monitoring solution, visit www.computimesoftware. com/axon-gaming or email info@computimesoftware.com.

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Swiss WorldCargo launches cargo station in Malta Swiss WorldCargo has recently announced the launch of a cargo station in Malta, to complement its seasonal A320 flight from Zurich. During this flight, offered twice weekly in the summer months, there will also be belly space available, in order to provide the transportation of a variety products and goods to and from the island.

How can Swiss WorldCargo make an impact in Malta? Our impressive intra-European and global network is perfect for your shipping needs. Whether you want to send cargo directly from Malta to Zurich, or extend to any of our more than 130 flight destinations worldwide, Swiss WorldCargo is the ideal carrier to help you do so. In addition to our destinations, our strong European trucking route makes it possible to extend the shipment of goods to smaller cities and a variety of locations within the continent.

We are able to quickly process and share goods via our Zurich hub, which is well-positioned to accompany shipments small and large. With extremely quick and efficient transfer times (some of the fastest in Europe), you can be assured that your cargo will be speedily processed in Zurich, and if necessary, shipped onwards at record times. Despite our efficiency on the ground and in the air, we take careful steps to ensure that quality underscores the entire process of our shipments. Through defined processes and strict regulations, we ensure that all our deliveries are handled safely and effectively.

Over the years, Swiss WorldCargo has distinguished itself as a niche operator of sorts, by being able to effectively deliver a variety of goods which require an added layer of sensitivity and care. For pharma products, which can require specific shipping and handling requirements, we have the technology ready that can ensure that life-saving medications are shipped in a timely manner. For our high-value products, we provide the proper handling, security and discretion that ensure the safe arrival and delivery of these products.

For our customers, we offer an enhanced product portfolio aiming to provide a variety of beneficial solutions. Our aircraft are capable of carrying shipments which

are temperature-sensitive, vulnerable, or need special protection. Likewise, our SWISS X-Presso product is the industry game-changer which can help any shipment – by providing the extremely short (even quicker than usual) transfer times that your shipments may need.

Swiss WorldCargo is excited to build up its presence in Malta. Of note, MAL Services Ltd has been appointed GSSA for Swiss WorldCargo in Malta.

We hope that through our intercontinental network and trucking routes, our ability to ship products quickly, effectively, and safely, and our commitment to quality – which is at the heart of everything we do – we can help you meet your shipping needs. At Swiss WorldCargo, we care for your cargo. cc For trade enquiries, contact us on T: 2180 3670 or E: cargomalta.swiss@mal.com.mt

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New gourmetstyle supermarket in St Julian’s A new 3,000-square-metre supermarket – Park Towers Gourmet – has opened its doors.

Park Towers Gourmet forms part of the new Spinola Park and boasts wide aisles and large shelving, spread over 3,000 squaremetre wood-like flooring on a single level, displaying premium products with lighting that attractively stages all products, as well

as custom-made cakes, fresh fruit which can be carved in shapes unimaginable, superfoods, eat-ins, a string of food stations and a kids’ play area.

Patrons have the option of purchasing meat from the supermarket butcher (including well-priced dry-aged meat) and having it cooked by the in-house bistro chef.

Swiss shop-fitters Schweitzer were behind

the design of the supermarket – the same fitters responsible for the interior décor of La Fayette in Paris.

Free customer parking is available. cc Contact us on T: 2737 8520. Other locations include Psaila Street, Santa Venera, T: 2148 0807; Gorg Borg Olivier Street, St Julian’s, T: 2137 8520.

CC MEET THE ARTIST

The sum of all colours

Photos by Alan Carville

French artist Julien Vinet speaks to Marie-Claire Grima all about the power of black and white, the confidence an artist needs to become more challenging, and the freedom he experienced as an artist working in Malta.

“I

really cannot express myself with colours,” insists Julien Vinet. It seems like a paradoxical statement – when we meet, he is charming and gregarious, wearing a summery pastel-hued outfit, with faded pink espadrilles on his JUNE/JULY 2018

feet, and colourful bracelets and wristbands adorning his arms – a far cry from the gloomy Tim Burton-type you’d expect to make such a declaration. “I love colours – I wear them all the time,” he explains. “But in my work, I really cannot use them to

express myself. To me, white is the sum of all colours and black is the rejection of all colours. Together, they encompass the whole spectrum. But it’s not really just black and white – it’s more like 50 shades of grey,” he adds mischievously.

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“My work ten years ago was far more didactic, and figurative.

The fact that I really embraced abstraction is a huge step – it’s where I can actually really go for a transcription of what I feel.”

Julien makes monochrome prints using Japanese ink and glue, which he first paints onto sheets of glass and then transfers onto paper. It’s a technique he has been perfecting since he was a teenage art student, an avid fan of the cartoonist Alberto Breccia. “I paint on the glass first, then I mix in the glue, and press the paper on it. I have some works where I paint everything at once, where everything on the paper is one long brush stroke. It’s all about texture, movement and composition.”

He says he loves the fact that he can never reproduce the same work twice. “If I do something and it looks nice on the glass and then I move it to paper, when I print it, it has a natural effect that I cannot replicate.

As I go to press the paper on the glass, it’s 134

going to impact how the ink will look. If I press very hard, the ink is going to spread. I didn’t press this one this hard,” he says, gesturing towards one of the prints hanging in the Lily Agius Gallery, where he held his final show in Malta. “It is unique and I cannot correct it. I mix different kinds of pressure on the paper.

They’re all different – it’s impossible to do the same thing twice.”

Vinet’s latest project involves the floors of abandoned houses. “I moved away from glass for this – instead, I’ve been using tiles. I study the path of people in a room and I record their movements – a phantasmic, ghostly approach – then I reproduce the path with my strokes. In an abandoned house, there are all sorts of dust and debris, even dead creatures sometimes – it all goes into the artwork.

JUNE/JULY 2018

CC MEET THE ARTIST Then I apply the glue, and what is left emerges. There are different processes that I use, but creation is always the same – there will be things that you’re happy with, but others that you could have done better. An artist always has to evolve – it cannot always be the same thing.”

The Japanese influence in his work extends far beyond the ink and paper he uses.

Following studies in Fine Arts at Paris VIII and Visual Communications at Jean Trubert Art School, Vinet discovered the Maison de la Culture du Japon à Paris, a library in the heart of the French capital dedicated to Japanese culture. “Student life in Paris is very much centred on libraries – I would spend my time between the Georges Pompidou Centre library, and the Maison de la Culture, watching movies and reading books there.”

The legendary film-maker Akira Kurosawa and his strong approach to black and white was one of the key influences on the young Vinet. “There’s this incredible story about Kurosawa where he’s on a set of a film – the set designer had brought him a green lamp, when he had asked for a red one. Kurosawa insisted on the red lamp, and the designer questioned why this mattered so much – after all, the film would be in black and white. “No, no,” Kurosawa insisted, “the whole spectrum of colour is visible through black and white. If I asked for a red lamp, it’s because I needed it.”

Kurosawa’s work is a masterclass in actually seeing the invisible and feeling the things that

the artist wants you to feel through his own appreciation of the world and his process.”

Another Japanese element that strongly influenced Vinet is the art of calligraphy.

“Calligraphy in Japan is normally a kanji, an ideogram that any Japanese person can read. They’ll go to an exhibition and say “yes, it’s well written.” Contemporary calligraphers in Japan are bucking this trend. They’ll write it so randomly that nobody can read it, or they’ll write an old character that’s not used anymore, so that few people will be able to read it. When you lose the legibility, you can focus on the composition – the strengths of the brush stroke.”

The loss of legibility is essential to Vinet’s latest work, as he leans more fully into abstraction. “My work ten years ago was far more didactic, and figurative. The fact that I really embraced abstraction is a huge step – it’s where I can actually really go for a transcription of what I feel. Figurative is beautiful, it’s elegant, it’s cool, and there’s always a story behind it. As human beings, figurative art is usually easier for people to look at – we have this voyeuristic tendency where we enjoy looking at others. But abstraction pushes people beyond their own limits when it comes to just feeling art. It’s difficult for people – not to get it, because there’s nothing to get – but to go through it. It’s more challenging, and that’s exactly what I love.

“The light here has had a huge effect on me. My work in Japan was totally different – it would focus on the black.

Since I came to Malta, the white has been so important to me. I put everything into the white background.”

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“When you have this economical Damocles sword over your head, it’s tiring – you have to be efficient, which is not what an artist should be.”

As an artist, becoming confident and able enough to be more challenging was a huge step.”

Vinet moved to Malta in 2010 after eight years in his beloved Japan. His final exhibition at the Lily Agius Gallery in Sliema last month was titled Sssortie, and it appears to be loaded with meaning; the word in French can mean anything from exit to release, to voyage, to attack, while the triple S of the title seems to allude to the sinuous, snake-like brushstrokes that have become Vinet’s hallmarks. Like the mythical ouroboros, the snake that eats its own tail, the exhibition is both an ending and a beginning, infinity and wholeness, an exit and a release. He is now moving to fresh pastures in Berlin, in order to widen the spectrum of his projects, and to focus more intently on promoting his art.

“I have gallerists in different countries – Paris, Tokyo, Malta – but they’re not doing international art fairs – it’s easier to get established if you’re in Berlin. Normally, galleries are interested in you if collectors are interested in you, and there are simply more galleries, more collectors and more people in Berlin.”

However, his time on the island had an important effect on his work, in more than one way. “First of all, the light here has had a huge effect on me. My work in Japan was totally different – it would focus on the black. I would usually create negatives; the black would be white and the white would be black. Since I came to Malta, through

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an unconscious luminous mental process the idea of white became the pedestal of the recreation of my work, isolating subjects on this absence of colour or using it as an equilibration concept.

“The second impact that Malta has had on my work is that I’ve been freer in what I want

to do, even if it’s more difficult to do it. When I was in Japan, I needed to have economical resources. Artists in Japan have to be rich.

You have to rent out a gallery – they don’t offer you the space – and one week can cost you anything from €500 to €800. It’s a huge amount of money. When you have this economical Damocles sword over your head, it’s tiring – you have to be efficient, which is not what an artist should be. I would never have done an exhibition like this in Japan.

Because life in Malta is cheap – well, used to be cheap – it gave me a lot of freedom.”

He cites Austin Camilleri, Aaron Bezzina, Kane Cali, Maxine Attard and Duška Malešević among his favourite Malta-based artists, and says that the arts scene in Malta is a lot different to how it was around a decade ago. “Back then, there were not as many working artists as there are now. There were the old-school artists that were in place, of course, but now you have an emergent, blossoming crop of so many new artists.

What’s interesting is that this movement is not just happening in Valletta or Sliema, it’s all around the island. Artists in Malta are decentralising, and it’s putting a lot of new strength into their work.” cc JUNE/JULY 2018