The Commercial Courier October/November 2019

THE COMMERCIAL/86

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

OCTOBER/NOVEMBER 2019

Celebrating quality Architecture award winners

NEWSPAPER POST GOLD COLLABORATING PARTNERS

IN THIS ISSUE BUDGET 2020: THE IMPACT ON BUSINESS AND THE ECONOMY / THE LAUNCH OF THE YOUNG CHAMBER NETWORK / IS R&D THE WAY FORWARD IN MANUFACTURING? / CENTRAL BANK GOVERNOR ON ECONOMIC GROWTH AND WHAT’S IN STORE FOR 2020 / A CHAT WITH PROMISING YOUNG ARTIST TINA MIFSUD / THE LATEST BUSINESS NEWS

THE COMMERCIAL/86

COURIER OCTOBER/NOVEMBER 2019

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FOOD TRENDS

20 COVER STORY THE 2020 BUDGET REVIEW Jo Caruana provides insight into the recently announced Budget from a number of the key stakeholders.

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37 IN FIGURES

44 COVER STORY

105 DESIGN TRENDS

BUDGET 2020… IN NUMBERS

THE FUTURE IS YOUNG

A look into the figures related to Malta’s Budget 2020.

Caroline Curmi discusses the newly launched Young Chamber Network with six of its members.

CELEBRATING EXCELLENCE: THE 2019 EMANUELE LUIGI GALIZIA AWARD WINNERS

38 INTERVIEW “THE PROSPECTS FOR GLOBAL, AS WELL AS EUROPEAN, MACROECONOMIC GROWTH HAVE BECOME INCREASINGLY UNCERTAIN” Martina Said speaks with Governor of the Central Bank Mario Vella about the impact of global uncertainty on the local banking sector, the mood for doing business and the road ahead.

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STYLE REVIEW

95 IN DEPTH SUPPORTING SMART, SUSTAINABLE GROWTH THROUGH R&D Rebecca Anastasi interviews four stakeholders to find out more about innovation through research and development, one of the key policy components of Europe’s 2020 strategy, within the local context.

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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 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 month of October/November 2019.

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.

Sarah Micallef meets this year’s top architecture award winners, learning about their winning projects and what the awards mean to them.

134 MEET THE ARTIST OBSERVATIONS FROM THE SIDEWALK Local artist Tina Mifsud speaks to Caroline Curmi about creative processes and how self-discovery and art are all part of the same journey.

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 Reef Guest House by Chris Briffa Architects Photo by Aldo Amoretti

Malta chamber’s bronze collaborating partners OCTOBER/NOVEMBER 2019

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CHAMBER/86

EDITORIAL

At the forefront of national economic policy The autumn months are always a busy time at the Chamber. The conclusion of the year and the planning for the next is expounded by an extraordinary occurrence of conferences and participation in a variety of fora, and only topped off with the annual Budget, which is a crucial time for those working in economic policy – a yearly appointment which sets the tone for the coming 12 months.

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n fact, the Chamber starts working on its contribution for the Budget well in advance, in summer, gathering feedback from its members from the different sectors it represents, as it compiles its positions and recommendations, which it then presents to Government. This year, the Chamber decided to focus on six priority areas of interest, in order to keep the message as clear and focused as possible. This was well received by members and all parties alike, as several of the recommendations made to Government were taken on board.

The Chamber’s yearly effort to supply its members with a timely and objective account of the Budget on the same night was also well received. As the Minister for Finance read out his speech in Parliament, at the Exchange Buildings, the Board of 18

Management together with the chairs of the Economic Groups followed closely, as they designed the Chamber’s initial reaction to the speech. In tandem, the executive team of the Chamber compiled a summary of the main take-away points of the Budget (which this year were divulged to members on the night) and communicated to all members of the media and authorities in a clear and focused manner.

The Chamber’s work in influencing national economic policy is not limited to the Budget. Addressing the EY annual Attractiveness Event, Chamber President David Xuereb spoke about the challenges the Chamber members (the business community) could foresee in the future, and how the country ought to address them.

These concerns included the constant rise

in the overall cost of labour; productivity levels across different sectors of business; availability of skills across the board; labour legislation; prevailing rates of rent inflation; the ever-rising operating costs; transport and logistics; our taxation structures; the present levels of RTDI conducted in our country; and last but certainly not least, the prevailing perceptions about and reputation of Malta by other jurisdictions.

The Chamber’s concerns also come in the wake of Malta slipping by two places in the World Economic Forum’s competitiveness index. In fact, on the Saturday preceding the Budget, when the news broke, the Malta Chamber expressed its views and called on Government to address the issue through its Budget plans for 2020. The Chamber argued that it was time for Government to prioritise OCTOBER/NOVEMBER 2019

CHAMBER/86

EDITORIAL “Competitiveness was once again top of the list of the Chamber’s pre-Budget proposals for 2020.”

Malta’s competitiveness when compared with other competing countries, especially those that are working hard on this front.

The Chamber has been consistently vociferous about these shortcomings, and competitiveness was once again top of the list of the Chamber’s pre-Budget proposals for 2020. We explained how Malta could not afford to erode its inherent competitive advantage ingredients further, and cannot delay in addressing these fundamental aspects of competitiveness, in the interest of ensuring the sustainability of its current success. International institutions and investors were watching, measuring and sending warning signals of their own.

The Chamber was equally active in various focus topics in the past weeks. Addressing a conference on skills and education organised by the Ministry for Education and Employment, Deputy President Marisa Xuereb gave a detailed explanation of what the Chamber and businesses were doing to bridge the gap between industry and academia, and elaborated on the need to solve our chronic problem in sourcing skilled employees.

Ms Xuereb listed the key challenges in achieving better results, such as the country's high rate of early school leavers and youths who are not in employment, education or training (NEETs), mainstreaming VET in all secondary schools, not just state ones, and investing further in MCAST's capacity.

She also spoke of the need for industry to be more involved in education and explained that the Chamber is doing its part by collaborating closely with MCAST and the Education Department through a series of projects. This includes the media campaign MAKE IT, which was aimed at promoting careers in Malta's manufacturing sector amongst secondary and post-secondary students and their parents, as well as offering work-based learning opportunities to Form 3 and Form 4 students amongst the business community.

Andre' Fenech, Head of Policy Development, participated in a conference organised by the MEA, titled SMEs National Forum, focused on the future of the labour market in Malta. As keynote speaker, Mr

Fenech spoke of the major changes the country is facing in the labour market. He noted that more than 60 per cent of women are active in the labour market, more people with a disability have joined the workforce in the last five years when compared to previous decades, more people are working beyond their retirement age and almost a third of our workforce is made up of foreign nationals.

He explained that all these changes in a such a short span of time bring challenges, such as increased labour costs and skills shortages. He spoke of the need to analyse the country's carrying capacity in terms of a growing population and in terms of increasing tourist arrivals which are leaving an impact on the infrastructure, education, health systems, and accommodation amongst others.

Through such initiatives and several others, the Malta Chamber strives to be at the forefront of national economic policy.

In fact, the Chamber believes that this is the opportune time to capitalise on the successes of recent years and plan where we want to take our country in the longer term.

These are exciting times indeed, and the Chamber is all too pleased to once again be an integral part of the process. cc

CC COVER STORY

The 2020 Budget review With an increased focus on sustainability and incentives for exploring new economic niches, the 2020 Budget has been hailed as positive by many – while others say it has stopped short of encouraging new investment and business growth or forcing the dramatic changes needed to protect our local environment. Here, Jo Caruana provides further insight from a number of the key stakeholders.

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he recent Budget has set the stage for the next economic year: 2020.

At a time when, globally, rumblings suggest the international economy is facing a downturn and locally real GDP growth is forecast to fall from 4.7 per cent to 4.3 per cent, all eyes were on the budgetary announcements to assess what the year might have in store.

Finance Minister Edward Scicluna, who presented the Budget, is first to give his input. He says that, while Government cannot ward off external shocks such as an international economic downturn, this Budget can and should ward off a potential internally-caused downturn.

“That possible downturn could be caused by factors such as the island losing export competitiveness in a big way, us scaring away

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investment, or us not renewing ourselves by postponing taking important decisions, so we have worked to address that,” he says.

“Beyond that, a good Budget can also help to prepare for any negative eventuality by creating fiscal space by obtaining a low debt ratio. The worst thing we could do would be to paint ourselves into a corner through successive annual deficits – which was Malta’s experience for about 30 years. Now we have succeeded in reaching a debt ratio or percentage that is in the low 40s and, coupled with a modest wealth fund, that is positive.”

When eyeing the international scene and what that could mean for Malta, Shadow Minister for Finance Mario de Marco highlights that the global economic environment continues to be dominated by

the tensions caused by the re-emergence of protectionist policies and the negotiation of bilateral and multilateral trade agreements consequent to the US-China trade dispute and the unknowns around Brexit. “The International Monetary Fund (IMF) is in fact forecasting slow growth in 2019 and 2020, and points out that the future is more likely to be shaped by the risks than the opportunities.”

“On the domestic front, then, the Central Bank is forecasting that GDP growth will ease from 6.7 per cent in 2018 to 5.4 per cent in 2019, 4.3 per cent in 2020 and 3.5 per cent in 2021. Yes, Malta’s economic positive run continued in 2019 and all indications point to a positive performance in 2020. But, clearly, the mood is becoming less upbeat than it was in the last five years, and the OCTOBER/NOVEMBER 2019

CC COVER STORY “However, there was a number of ‘elephants in the room’ left by the previous administration – including the price of our energy, the heaviness of our bureaucracy and legal system, the supply and quality of our labour force, the degree of investment, and the burden of taxation (especially on work). Although we are still some way off from declaring success on all these fronts, we are certainly improving them.”

Dr de Marco, meanwhile, believes that while the 2020 Budget is characterised by a number of measures aimed at addressing

some of the social issues that the Opposition has highlighted over the years, these were left to accumulate. “These include the inadequacy of current pensions,” he says, “as well as the rising cost of property, people’s diminishing disposable income due to the higher cost of living, and the poorer quality of life that exists due to our rapidlydegenerating environment. Thus, the Budget represents a lost opportunity, as it fails to tackle these issues head on with a clear longterm strategy. The approach is regrettably piecemeal and short-term.”

“Malta aims to be at the forefront of success when it comes to sustainable development.” – Edward Scicluna, Finance Minister

rate of economic growth is slowing down, so one cannot and should not take the positive economic performance of past years at face value.”

Running through the aspects of the Budget he is most pleased to have confirmed for the year ahead, Minister Scicluna says it is good to see that this process has finally become an economic instrument of Government, rather than just an accounting exercise.

“As a Government we always believed that a small, open economy cannot permanently create its own demand. The demand for our exported goods and services comes from beyond, and that won’t change.

What is partially within our grasp is our competitiveness, which is, in turn, greatly affected by supply side factors.”

OCTOBER/NOVEMBER 2019

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CC COVER STORY Malta Chamber President David Xuereb considers the Budget to be positive on its social objectives, and believes it has started to propel the country in the right direction in respect of its environmental aims, but admits it does very little to provide direction and clarity on the economic and business ambitions of the country at this point in its history. “A number of our recommendations have found their way into the Budget speech, and for that we are appreciative – but we do feel that Government could have been more courageous in incentivising the growth of the economy we wish or plan to have tomorrow.”

“One of our main proposals for the Budget was that Government should start giving stronger priority to Research, Technology, Development and Innovation (RTDI), and look at improving Malta’s current bottom-ofthe-table standing in this field. We proposed concrete investment in this area, which the Chamber feels is the only solution if Malta wants to ascertain a level of long-term competitiveness on the global market. Our economy has developed over the years but we cannot continue to expect to attract investment solely on price-competitiveness.

We need to attract higher value-added sectors, and this should be supported through a serious investment in product and/ or process innovation via RTDI.” “Beyond that, in light of Malta’s recent drop in the World Economic Forum’s Global Competitiveness Index by two places, we expected more investment in resources to strengthen the shortcomings exposed, namely the soundness of institutions, skills, market structure and financial systems,” Perit Xuereb says.

The Shadow Minister, meanwhile, does not believe the Budget does enough to ward off a potential economic downturn on the island. “Between December 2012 and the end of 2018, recurrent expenditure increased from €2,488 million to €3,821 million, representing a 65 per cent increase with little to show for it in terms of improved services and facilities to our people,” he says.

“Government is also becoming increasingly dependent on the sale of citizenship to balance our books, with revenue from direct taxation falling some €74 million short of that estimated. Beyond the buzzwords and rhetoric, the 2020 Budget offers little in terms of vision for tomorrow’s economy and the need to attract investment based on the skills of our people than legislation.”

Sustainability, certainly, was a major focus of this Budget, and Minister Scicluna believes it shows, without any doubt, that Government is closely monitoring international developments with respect to reaching global climate change goals. “We aim to be at the forefront of success when it comes to sustainable development,” he says.

“Our decision to ban single-use plastic, make a big investment in our waste-to-energy OCTOBER/NOVEMBER 2019

“Beyond the buzzwords and rhetoric, the 2020 Budget offers little in terms of vision for tomorrow’s economy and the need to attract investment based on the skills of our people than legislation.” – Mario de Marco, Shadow Minister for Finance

plant, and incentivise electric car use all highlight that, as well as a major switch to gas and our ongoing incentives for the use of photovoltaic panels and house insulation.”

“Our focus now also needs to be on changing lifestyles, which are ingrained when it comes to current, unsustainable practices. However this is an area wherein governments cannot go it alone – but I am optimistic, especially when I see the passion from the younger generation on this topic.

Luckily, the effect on the whole family has been tremendously encouraging to observe.”

Asked about whether enough will be achieved by this Budget in terms of sustainability, Malta Chamber Head of Policy Development Andrè Fenech says that it’s never enough really. “If the country wants to shift gear in terms of sustainability, we need

to embrace the circular economy across all facets of life.”

“There’s no denying that the growth of our economy in the last six years has come at a cost to our environment and societal well-being. Prime examples include the sudden labour shortages – which have resulted in thousands of foreign workers moving to our shores – as well as the increase in tourist arrivals. This has brought about challenges in the form of infrastructural needs, housing availability, increased waste generation, further depletion of our scarce water resources, a higher demand for electricity, more vehicles on the road (leading to the worsening air quality situation and pressures for road widening), and increased pressure on our public health and education systems.

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CC COVER STORY

“Government could have been more courageous in incentivising the growth of the economy we wish or plan to have tomorrow.”

– David Xuereb, Malta Chamber President

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These developments are outgrowing the pace of the investment needed in sustainable development, which now requires a holistic plan that takes into consideration long-term sustainable growth.”

“The Chamber does take note of some interesting Budget measures in this respect, such as the initial roll-out of a Beverage Container Refund System (BCRS) by the end of 2020 and a sale ban on certain single-use plastic products, such as cutlery, straws and plates by January 2022. Other interesting initiatives include assistance to the construction sector to invest in the replacement of old, polluting equipment and machinery. We look forward to the publication of a national strategy next year to make the country carbon-neutral by 2050.”

Turning his attention directly to the year to come Mr Fenech believes that the short-term forecast will remain positive overall, but admits we are seeing the first possible signs of a slowdown. “This is why, in recent years, the Chamber has harped on the fact that the country needs to prepare for any deceleration, as this is the natural progression of an economic cycle,” he says.

“Consequently, the Chamber once again

argued that retaining and improving our competitiveness is key to making our economic development less susceptible to any internal and external economic shocks.”

Perit Xuereb agrees. “This Budget remains a mixed bag and it needs to be discussed and analysed in detail,” he says.

“Several initiatives were only hinted at, and more detail is required in order for us to fully understand what is intended by them and how they will affect our businesses and the national economy. The Chamber will continue to assess the implications of the announced measures on the general economic activity and on the various respective sectors. We shall be seeking clarifications on these measures for further discussions with all stakeholders.”

Also looking to 2020, Dr de Marco says he is in no doubt that Malta’s rate of economic growth is slowly tapering off.

“Government has a year to address the deficiencies in our institutions identified in the Moneyval report,” he stresses.

“Otherwise we risk receiving a grey listing or even blacklisting, which would be a disaster for our financial services sector and reputation.”

OCTOBER/NOVEMBER 2019

CC COVER STORY “There are a lot of other unknowns at the moment too, related to the way the international political scenario is developing.

Brexit is happening, and we are no closer to knowing whether a last-minute deal will be struck with the EU and, if so, whether it will be approved by Westminster. The USA is in protectionist mode. The Turkish incursion into Syria is creating further regional unrest. But, at the same time, technology development offers numerous opportunities for resilient economies like ours. So, while shielding our economy against the risks that will come our way whenever possible, we need to gear it towards being prepared to take such opportunities as and when they come.”

Finally, Minister Scicluna focuses on the fact that the success of the Budget in the long run will depend heavily on the implementation of the measures selected during its preparation. “Each Budget measure has an intended effect, and cannot stand alone. Just like with medicine, it is OK to forget the odd dose but it could be tragic to miss too many.

So I am enthused by the possibility of success when we take a consistent and holistic approach to everything we have suggested. Looking ahead, I believe the local business community can look forward to another successful year, with some guarded optimism,” he concludes. cc

“If the country wants to shift gear in terms of sustainability, we need to embrace the circular economy across all facets of life.” – Andrè Fenech, Malta Chamber Head of Policy Development

CC business

Budget 2020 at a glance – Leading businesses have their say Following the announcement of Malta’s 2020 Budget, questions abound on how the measures announced will impact the country’s economy at large as well as specific industries. To gauge a more tangible reaction to how these measures are expected to impact the country, Helena Grech reaches out to various companies for their insight.

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onday, 14th October, saw Finance Minister Edward Scicluna deliver a three-and-a-half-hour-long speech in Parliament relaying Government’s Budget measures for the year 2020. Many within the business community and beyond praised Government for leaving out any surprise measures or taxes in its plans for the upcoming year, although others expressed concern that not enough is being done to tackle issues of competitiveness.

Economic growth for the year 2019 is forecast to average 4.7 per cent, slowing by 0.4 percentage points in 2020, to 4.3 per cent, according to the Government’s own forecasts. Malta still enjoys an economic performance that surpasses the EU average, forecast to grow by 1.4 per cent and 1.6 per cent in 2019 and 2020 respectively, according to European Commission projections.

In terms of unemployment, Malta is expected to close the year 2019 with a rate of just 3.3 per cent, while the national debt-to-GDP is forecast to drop from 43.1 per cent this year to 40.4 per cent in 2020, according to the 2020 Budget document.

Maurice Mizzi – President of Mizzi Organisation (Import/ Export, Manufacturing, Real Estate) Mizzi Organisation President Maurice Mizzi remarks that Malta’s “economy is one of the best in Europe, however, this has impinged on the nation’s health since Malta has one of the most polluted atmospheres in the EU.” Mizzi Organisation is a conglomerate involved mainly in the importation of vehicles, bottling of soft drinks and table water, real estate, hotels and other activities, employing 1,400 people in total.

The organisation, therefore, touches upon various thriving industries within Malta’s economy.

“In this year’s Budget, there were over 70 proposals, some of which were regurgitated from previous years. But most were useful new ones, which will help needy people while others will aid our economy to move forward,” Mr Mizzi says when asked for his reaction on the 2020 Budget measures.

With regard to the mitigating initiatives to counter the growing pains Malta has experienced through its rapid growth in recent years, Mr Mizzi gives Government’s policy-focus to reduce air pollution his first preference.

Elaborating on this point, Mr Mizzi identifies measures such as a “stop to the importation of polluting cars,” for which the Government will set a cut-off date in 2020, as well as “the exemption of registration tax when buying electric vehicles.”

A series of measures was also aimed at alleviating congestion and, therefore, the pollution it causes. Government announced its goal for Malta to be carbon neutral by the year 2050, it announced cheaper night electricity rates for electric vehicle owners, as well as the installation of over 200 charging points for electric vehicles.

“The world is moving towards transport electricity. So should we,” Mr Mizzi stresses.

Moving onto infrastructural policy areas, OCTOBER/NOVEMBER 2019

“In this year’s Budget, there were over 70 proposals, some of which were regurgitated from previous years. But most were useful new ones which will help needy people while others will aid our economy to move forward.” – Maurice Mizzi, President, Mizzi Organisation the President of the Mizzi Organisation views the announcement that €100 million will be spent in 2020 on improving Malta’s road network as “absolutely necessary since the number of cars is increasing”. He adds that “the Transport Ministry’s drive to widen certain roads seems to be working, even though, sometimes, bottlenecks tend to diminish the great improvement being made in our roads.”

In addition, Mr Mizzi lauds the proposal to prohibit the importation of single-use plastics by 1st January 2021. “Plastics are polluting everywhere, especially our seas.

This law is absolutely necessary,” he adds.

With regard to policy measures aimed at the development and construction industry, Mr Mizzi comments that plans to set up a new authority with the aim of introducing a building code to ensure

better safety are a necessary step, especially in view of three buildings having collapsed over the past year.

He questions whether this authority can be given the power to render buildings more uniform, as is the case in many foreign countries. “At the moment, our streets are the ugliest in Europe,” he laments.

With reference to Malta’s housing issues, Mr Mizzi commends the commitment to build 1,700 social housing units in view of the 83,000 persons at risk of poverty in Malta, according to Eurostat figures.

In his concluding remarks, the Mizzi Organisation President expresses his wish to see more measures related to the planting of trees, however, he concedes that “the Minister had to choose between what was absolutely necessary and what could wait for next year’s Budget.”

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CC business

Mark Aquilina – Managing Partner at Nouv (Multidisciplinary) The Managing Partner at Nouv, a professional services firm, echoes Mr Mizzi’s statement that the Budget has a positive outlook but contains no real surprises.

Established in 2008, NOUV helps organisations identify, design and execute their strategy. It focuses on creating the change that matters by working together with clients and by partnering with industry experts to develop and realise business goals. NOUV’s support, specialty and consulting services offer an integrated solution to clients’ toughest challenges across all business functions.

As an advisory company specialising in helping SMEs and family businesses grow, Nouv welcomes the extension of the reduced stamp duty rate of 1.5 per cent for qualifying business transfers effected by parents to their children.

“Our economy is heavily reliant on SMEs and we would like to see further impetus from the Malta Family Business Office towards family businesses to ensure that they set their governance and succession plans in place, a move which would help them not only innovate their organisation but prepare for eventual economic slowdowns,” Mr Aquilina says, while making his remarks on the most pertinent aspects of the Budget.

When commenting about Malta’s economy at large, he concedes that it is “currently heavily reliant on the construction industry, which is usually the engine that triggers economic growth due to its strong intertwining with other sectors.” Despite this, increased construction activity has the potential to lead to “negative economic, urban planning, as well as social and environmental impacts,” he warns.

With this in mind, Mr Aquilina believes that “more effort, enforcement, common sense and discernment are required to achieve an essential long-term balance.”

The professional services sector, which OCTOBER/NOVEMBER 2019

includes companies like Nouv, together with the iGaming and the financial services sectors at large, remain one of the most significant contributors to long-term economic growth, the Managing Partner stresses.

He notes that “the prosperity of these sectors depends very much on how successful the country is in upholding its reputation, especially when one takes into consideration the substantial foreign investment in Malta. At this point in time, the crucial point for Malta is to address the deficiencies as highlighted in the recent Moneyval report.”

Moneyval is a Council of Europe permanent body assessing compliance with international standards on countering money laundering, financial impropriety and the financing of

terrorism. Moneyval had advised Malta on the need to improve its monitoring, investigation, enforcement and prosecution of financial impropriety. The Finance Minister announced in the 2020 Budget that Government is formulating a detailed plan to introduce all recommendations by the monitoring body.

On this note, Mr Aquilina cautions that Malta’s “reputation is at stake and, with it, most business sectors, employment and Malta’s future for the coming years. The private and public sectors need to come together in these critical times; more work is required to prove to international institutions that we have embarked on the path towards implementing the change that matters.”

“[Malta’s] reputation is at stake and, with it, most business sectors, employment and Malta’s future for the coming years. The private and public sectors need to come together in these critical times.” – Mark Aquilina, Managing Partner, NOUV 31

CC business

Joseph Farrugia – Founder and Director of StreetHR (Human Resources Services) StreetHR Founder and Director Joseph Farrugia speaks positively but with caution of the overall direction taken by the 2020 Budget, remarking that it “presents the right tactics in addressing and sustaining both economic and social conditions, as well as environmental aspects, both from a shortterm and a long-term perspective.”

StreetHR offers the full spectrum of strategic HR services from high-end specialised recruitment to HR advisory and outsourcing. It also helps companies to develop and grow their leaders, and to address critical skills gaps impacting their businesses.

While observing that the Budget “keeps economic growth as a core strategic objective,” he notes that “it may have lacked focus on the troublesome market inflation we are experiencing, keeping in mind longterm sustainability.”

Asked about how he believes the Budget will impact the economy at large, Mr Farrugia says that many people speak of Malta’s economic growth experiencing a downturn at “some point”. On this note, he says that outside factors will also have a bearing on slowed economic growth, such as the impacts of Brexit as well as of the commercial relationship between the USA and China.

“However, it seems that Government is being proactive in seeding the future and evolving economic sectors from artificial intelligence to e-sports, to mention a few.

Naturally, we need to also be proactive in addressing related skills gaps and addressing strategic workforce planning across these lines, also in relation to widening gaps resulting from changing market conditions (including banking dynamics),” he adds.

Turning to the HR sector in Malta, Mr

“It seems that Government is being proactive in seeding the future and evolving economic sectors from artificial intelligence to e-sports, to mention a few.” – Joseph Farrugia, Managing Director, StreetHR

Farrugia says that “operating in a projected €14 billion economic size market, whereby supply of skills and positive employee engagement play a crucial role for companies investing in Malta, surely poses positive opportunities of a different nature.”

Despite this, he laments that “the substantial cost of living adjustment increase

Photo by Jason Borg / DOI

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(set at €3.49) and additional leave continue to put more pressure on small businesses as well as on large ones.” Government has introduced an additional day of leave in lieu of public feasts falling on the weekend.

This will be the third additional day of leave awarded by this legislature.

Asked about policy measures which he would have liked to see included, Mr Farrugia expresses his wish for “more innovative, outside-the-box initiatives in addressing a number of ‘people’ related issues.” Explaining further, he suggests incentivisation of remote working, propelled by supporting companies to move away from the “8am-5pm fixed and outdated office model”.

“Enabling people to work remotely ticks a number of boxes from better worklife balance to improved flexibility and productivity. At a strategic level, reducing cars from our streets and encouraging alternative transport solutions including ferry services, only address a small part of the problem,” he observes.

In his concluding remarks, Mr Farrugia cautions that, as a country, “we cannot sit on our laurels; we might need fresh and innovative ideas to address future global challenges, as well as the opportunities that may emerge.”

OCTOBER/NOVEMBER 2019

CC business

Michael Schembri – Managing Director of The Bath Concept (Home Furnishings) The Managing Director at The Bath Concept, Michael Schembri, remarks that the forecast economic growth for Malta, at 4.7 per cent and 4.3 per cent for 2019 and 2020 respectively, is “healthy” and a sign of “prosperity”.

Like many other individuals in the business community, Mr Schembri views Government’s decision not to introduce any new taxes or tax increases, whether through direct or indirect taxation, as favourable.

Believing there is always room for improvement, however, Mr Schembri says that Malta should work to progress “to the next level” by introducing “standards on how to build, on plumbing and electrical installation.”

In addition, he argues that adhering to standards on the building of roads is of paramount importance, adding that this also applies to the country’s network of pavements. “Pavements in Malta come in different heights and sizes, some of which are high enough to damage your car,” he says.

Moroever he asks whether it is acceptable to have several workers, such as tilers, plumbers and electricians, who are not qualified to be carrying out such work.

“The economy is doing well but, in the rush to maintain our economic growth, we are building properties using the most economic materials, thus providing low-quality building but asking for top-notch prices.” He also

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questions whether authorities should continue to issue construction permits at the current rates. “Or would it make more sense to extend this economic growth for a few more years but come up with a system where we can control the quality of projects being undertaken?” cc

“The economy is doing well but, in the rush to maintain our economic growth, we are building properties using the most economic materials.”

– Michael Schembri, The Bath Concept

OCTOBER/NOVEMBER 2019

CCCC COVER CCIN in INTERVIEW BUSINESS FIGURES figures STORY

IN FIGURES:

Budget 2020

4.3%

15%

€7m

GDP growth forecast for 2020 i.e. how much the economy is expected to grow next year

A flat tax rate introduced on the first 100 hours overtime for those earning less than €20,000.

Amount to be invested on infrastructural upgrades at the University of Malta and MCAST in 2020.

1.4%

1.5%

3

Government surplus forecast as a percentage of GDP in 2020.

Reduced stamp duty rate for transfer of family business to their children.

The number of ferry landing sites to be constructed in Gozo.

€3.49

€4m

€0

Rough cost for Government to provide one-off bonuses of €15 and €35 for single person and multiple person households respectively to make up for inflation on basic goods missed by the COLA.

No registration tax on the purchase of electric cars or hybrid vehicles in 2020.

1

€100m

200

Amount to be invested on road infrastructure in 2020.

The number of charging pillars to be installed in 2020 serving electric and hybrid vehicles.

Source: All figures were sourced from the 2020 Budget document.

The number of extra days of leave granted for 2020, in lieu of public holidays falling on the weekend.

Source: Gozo In Figures, National Statistics Office, Malta

The value of the Cost of Living Adjustment i.e. the increase in weekly salaries as of January 2020.

Source: Malta International Airport OCTOBER/NOVEMBER 2019

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“The prospects for global, as well as European, macroeconomic growth have become increasingly uncertain” While the strength and resilience of Malta’s economy continues to be reflected in healthy figures, the outlook for growth, prosperity and stability throughout the rest of Europe and beyond hangs in the balance.

Martina Said speaks with the Governor of the Central Bank of Malta, Mario Vella, to find out about the impact of global uncertainty on the local banking sector, the mood for doing business and the road ahead.

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conomic growth over the past five years, averaging at 7.7 per cent, was above its historical average and therefore, the Bank foresees a moderation in the pace of growth from such high rates,” says the Governor of the Central Bank of Malta, Mario Vella. Despite this, however, Malta’s GDP growth remains strong and favourable, particularly when

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compared to its European counterparts.

The Central Bank foresees GDP growth remaining at 5.4 per cent by the end of 2019 and at over 4 per cent in 2020, with the local economy continuing to outperform most other euro area countries. “The European Central Bank (ECB) expects the euro area as a whole to grow at an average rate of 1.2 per cent this year and next, far below the

average growth rate of almost 5 per cent we expect for Malta.”

While the numbers inspire confidence, the outlook for Malta is not without its risks. Dr Vella asserts that upside risks, which would have a positive impact on the forecast, are mainly of a domestic nature. “Some large projects that are still in the planning stage or about which the Bank did not have sufficient OCTOBER/NOVEMBER 2019

CC interview information have not been factored into the Bank’s projections, which could mean that investment would be higher than currently envisaged,” he notes.

“In contrast, the external environment poses downside risks to the outlook. In particular, the effects on EU countries of prolonged uncertainty related to Brexit, geopolitical risks and escalating trade tensions globally could weigh on foreign demand and, therefore, Maltese exports,” says Dr Vella.

The aggregation of several serious global issues, all of which have far-reaching implications, and the uncertainties they cause are a stark reminder of the perils faced by many countries merely 11 years ago, in 2008, when the world was plunged into the worst global financial crisis since the Great Depression. Dr Vella says that, in view of the crisis, policymakers, central banks

and regulators were compelled to take extraordinary measures to strengthen the financial sector and stimulate economic growth. “Efforts to strengthen the global financial system have been ongoing ever since, though new – and, to some extent, unexpected – challenges continue to emerge.”

The Governor asserts that tensions and uncertainty have affected global business confidence and investment decisions. “The pace of the US economy remained sustained only thanks to highly expansionary fiscal policy there. If such fiscal support is not sustained, economic growth could weaken, which, in turn, could have negative spillover effects on global economic growth,” Dr Vella explains. “Brexit is another event that has led to prolonged uncertainty, adversely affecting trade between the UK and the EU.

“Economic growth over the past five years, averaging at 7.7 per cent, was above its historical average and, therefore, the Bank foresees a moderation in the pace of growth from such high rates.”

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CC interview Despite all this, on balance, the measures taken after the crisis to increase the robustness of the regulatory framework have made the banking sector more resilient.”

Closer to home, the Governor says that the financial crisis also tested the resilience of the local banking sector, which – ironically, thanks to its traditional business model – emerged from the global turmoil relatively unscathed. “This has, in turn, shielded the local real economy from the credit crunches experienced elsewhere, not to mention the painful bank bailouts experienced by some other European counterparts, which took their toll on public finances.”

Dr Vella warns that vulnerabilities, however, remain. “Fast forwarding to more recent times, the prospects for global, as well as European, macroeconomic growth have become increasingly uncertain. Against this macroeconomic backdrop, the ECB further loosened its monetary policy stance. Yet, the low interest rate environment is becoming even more challenging for the European banking sector, with profitability in some institutions stabilising at levels estimated to be below the cost of equity. The extent of the weakness in profitability of the EU banking sector varies according to the business model, legacy losses and cost structures of banks.”

The low interest rate environment is also impacting the local banking sector, which relies on a traditional model based on credit

intermediation, funded by retail deposits, the Governor continues. “Maintaining profitability could be a challenge for the local banking sector going forward as the low interest environment persists.”

On the upside of all this is the steady growth of the Maltese economy, which has significantly outperformed other European countries with an average annual nominal growth of 9 per cent over these past seven years, and 6.8 per cent in real terms, says the Governor, This, in turn, supports the local banking sector, he points out.

Turning to the mood of European businesses, Dr Vella asserts that heightened uncertainty in the current international economic and policy environment is making businesses more cautious and less confident in investing. Brexit is at the forefront of this and greater clarity, both with respect to the end-game and its timing, would allow firms to implement strategies they deem appropriate for their business model, he remarks.

“Their capacity to adapt in adverse conditions should not be underestimated, although this will rely on their being given sufficient information. Also, it is hard to think about the impact on euro area businesses without acknowledging that some sectors, or even firms, are more exposed than others.”

The Governor adds that protectionism has possibly more immediate and visible effects on businesses, particularly in the

manufacturing sector. “Protectionist measures have escalated. This partly explains the sharp deceleration in trade this year, as protectionism has real effects on firms. Tariffs raise the procurement costs and paperwork of businesses. The effects of nontariff barriers are equally important because they raise compliance costs, though these are often more difficult to quantify.”

So far, Dr Vella asserts that these measures have not caused a huge deterioration in the euro area, except in some pockets of manufacturing.

Nevertheless, the prospect of additional protectionist measures poses a further source of uncertainty. “Furthermore, in an environment where firms interact through well-established, complex, global supply chains, one should not underestimate the risk of the effects of protectionism spreading to sectors and regions not directly exposed to a trade dispute.”

Despite the uncertainties for businesses, the Governor reassures that not all is bleak for euro area businesses. “The labour market situation in the euro area remains very supportive of domestic demand and consumption has held up rather well, considering the circumstances,” he explains.

“The deleveraging process has continued to progress, with firms’ balance sheets in a better shape today than they were a couple of years ago.”

“Protectionist measures have escalated. This partly explains the sharp deceleration in trade this year, as protectionism has real effects on firms.”

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“Currently, crypto assets have fundamental assurances which are missing or inherently weak, untested, unstable and exposed to risks to satisfactorily fulfil the role of money.”

“The ECB has also produced a new round of accommodative policies that should ensure a prolongation of the current favourable financing conditions for euro area firms,” he says.

On a local level, last July, the Central Bank issued a directive that sought to establish minimum standards and create a level playing field for banks with respect to the terms for giving home loans, which primarily impacted those looking to buy a second property, who the directive refers to as Category II borrowers, as the loan is not being used to acquire their principal place of residence.

“In such cases, the directive requires a higher commitment from the borrower by raising the proportion of the down payment or deposit. The measure does not necessarily exclude such borrowers from the credit market because they could either provide a higher down payment if they have the necessary funds or purchase a lower value property, in the absence of availability of such funds, in line with their level of affordability,” says Dr Vella.

“From a macro-perspective, these measures should help protect both borrowers and lenders in the case of adverse circumstances, as international empirical evidence shows that such borrowers, including corporate ones, are usually the 42

first to offload their investments during downturns, incurring losses to the detriment of the banks and themselves,” the Governor asserts, adding that, prior to launching the directive the Central Bank conducted an impact assessment based on granular data it sources directly from the banks.

“From this assessment, it transpires that less than 3 per cent of Category I borrowers buying their principal place of residence are impacted while, overall, 13 per cent of Category I and II borrowers will be affected.

From its assessment, the Central Bank feels that the expected benefits in terms of increased resilience of banks and prudent borrowing outweighs the possible impact on credit growth.”

Turning to the impact of financial technology and related developments within the sector, which are in contrast with traditional banking and have been touted as a challenge to the financial sector, the Governor says the Central Bank sees potential in digitalising fiat currencies but believes that crypto assets remain very much a niche proposition.

“To meet society’s expectations, a currency needs to fulfil concurrently three broad properties, namely that of being a universal means of payment, a store of value

and a unit of payment. These properties underpin the viability of the currency to enable society to interact within a sound economic, social and financial ecosystem, which requires a number of actors to ensure that such order is maintained,” says Dr Vella.

“Currently, crypto assets have fundamental assurances which are missing or inherently weak, untested, unstable and exposed to risks to satisfactorily fulfil the role of money.

Legislators are developing the required regulatory regimes in this regard, though more work is required before crypto assets can be considered for widespread use.”

Does the Governor envisage banks embracing innovative technology, such as blockchain – the same technology that underpins crypto assets – as a way of competing with financial technology? “Its potential for use to both financial and nonfinancial corporations is being constantly assessed. This technology, among others, contributes to the welcome dissemination of innovation in the financial sphere,” he replies.

But while the Governor believes that blockchain as a technology does have its merits, many of its promises are yet to be delivered. “It has made limited inroads in proposing its benefits in practical solutions and is, as yet, viable only in a relatively limited number of applications. Central banks in future may opt to adopt it for the digital representation of their own fiat currency or as underlying technology for payment and settlement systems.” cc OCTOBER/NOVEMBER 2019

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The future is young Since its inception, the Malta Chamber has made it its mission to positively influence national and European level policy-making in order to create favourable economic conditions that would ultimately lead to advantageous results for members and the wider community. Now, in line with this mission, the Chamber has just launched a new branch, the Young Chamber Network. An extension of the mother organisation, it aims to bring together a high-powered pool of entrepreneurial youths to support each other within the Chamber’s pre-existing framework. Caroline Curmi discusses this new branch with six of its members.

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t its most fundamental level, the Malta Chamber of Commerce, Enterprise and Industry is a networking tool that enables people in business to connect with others in a setting that is geared towards the improvement of the overall business environment. But what may arguably be considered an intimidating forum to young or new members is now being facilitated through the setting up of the Young Chamber Network (YCN).

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As the chair of the committee tasked with effecting the network, Marisa Xuereb lists this factor specifically as a main driving force behind the initiative. She acknowledges that “younger entrepreneurs may find it a little daunting to approach the Chamber” but asserts that the purpose of the YCN is to “create an environment that is welcoming to younger entrepreneurs and that can help them establish themselves within the Chamber.”

“Having your ideas heard and considered among businesspeople who have been in the scene for tens of years is not the easiest of things,” acknowledges Dr Gianella Farrugia, YCN member and Legal Consultant at SMM Group acknowledges, whilst thanking the institution for welcoming new blood. Her enthusiasm in reaction to the Chamber’s new direction is evident: “the YCN has the potential to be a powerful forum for sustainable business growth,” she explains, OCTOBER/NOVEMBER 2019

CC Cover story adding that it is likely to affect how Malta is seen as a player in the international scene.

Besides facilitating new members’ easing-in process within an environment filled with seasoned professionals, the YCN can more easily be defined as a networking platform to bring together Malta’s upcoming entrepreneurs under the age of 45. Ms Xuereb explains that this tool is vital to young business-minded individuals as it will not only help them establish themselves within the Chamber, but also assist them in “building bridges between people who can really make the business community more vibrant.” Ms Xuereb does not shy away from acknowledging the strong points of the young generation. “They are full of energy and ideas, and the vibe when we meet is great,” she says.

Sullivan Maritime Business Development Executive Karl Sullivan’s views, like those of many others involved in the YCN, are in alignment with the Chamber’s current course of action. The YCN’s well-thought

out structure “provides an opportunity for younger members within the business environment to come together and share similar experiences and issues,” he explains, adding that, in the long term, this will “be beneficial to all involved”.

Amanda Xuereb, YCN Committee member, Chief Business Officer at TOLY Malta Sales Ltd and Founder of Beauty Trill, further highlights the importance of attracting the younger generation, as well as female members, to the Chamber. And the Chair of the committee agrees, pointing out that they “expect YCN to have more active female entrepreneurs than we have traditionally seen at the Chamber,” to reflect the inspirational increase of female professionals taking on leadership roles or starting their own businesses. “In order to help it flourish, we need to think outside of the box,” Committee member Ms Xuereb says, hinting that the Chamber’s plans to ensure the institution’s continuity and relevance involve a heightened dose of passion, fun and energy.

Photo by Daryl Cauchi

“The strong legacy of 171 years of business leadership and the valuable experience of the Chamber’s more senior members shall meet the energy and dynamism of the upcoming generations of business leaders.” – Marisa Xuereb, Chair of Young Chamber Network Committee & Managing Director, Raesch Quarz (Malta) Ltd OCTOBER/NOVEMBER 2019

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“The YCN will expose the advantages and all the different facets that the Chamber has to offer, whilst creating opportunities to network with your peers who are also developing their own businesses and facing their own challenges.” – Angelique Maggi, Deputy Chairperson, MMH Malta Ltd

She goes on to explain that the Committee is currently planning a series of exciting events for the upcoming year to attract members to the newly formed YCN. The way forward will involve working together with Junior Achievement Young Enterprise Malta Foundation (JAYE), MCAST and University students to organise seminars with educational and inspirational speakers on a variety of relevant topics such as start-ups, blockchain and artificial intelligence. And while this strategy has yet to be implemented, Ms Xuereb points to a more immediate and clear-cut plan of action that will preface it. “The YCN shall offer its members access to exclusive networking events, inspirational talks by world-class speakers in a variety of relevant fields, and an opportunity to form part of an exclusive club along with the country’s leading business organisations,” she narrates.

“[The YCN] provides an opportunity for younger members within the business environment to come together and share similar experiences and issues.”

– Karl Sullivan, Business Development Executive, Sullivan Maritime Ltd OCTOBER/NOVEMBER 2019

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“The YCN shall [also] offer its members access to exclusive networking events, inspirational talks by world-class speakers in a variety of relevant fields, and an opportunity to form part of an exclusive club along with the country’s leading business organisations.” – Amanda Xuereb, Chief Business Officer, Toly Group & Founder, Beauty Trill

Both the Chair and the Committee member carefully tread away from likening the YCN to a formal mentorship programme but Marisa Xuereb concedes that plans to include such a framework are currently being considered. In her words, the current framework promises to introduce members to “some of the many committees at the Chamber, according to their interests and expertise.” This will not only allow new recruits to become active members but it will also allow the Chamber to expand its overarching network. Its rewards are mutually beneficial; while YCN members will be able to make use of the Chamber facilities, contribute to discussions relating to policy developments and be given space to generate ways and means to make better use of the latest technologies, the Chamber will be exposed to a wider set of voices and skills, which will consequently allow it to be future-ready. “The YCN will be a key player in the current process of renewal at the Chamber,” she explains. “The strong legacy of 171 years of business leadership and the valuable experience of the Chamber’s more senior members shall meet the energy and dynamism of the upcoming generations of business leaders.”

Angelique Maggi’s professional ambitions resonate with the Chamber’s latest efforts and her statement echoes Ms Xuereb’s: “in some industries, doing business has remained largely traditional,” she attests, pointing out that business is an everevolving practice. Ms Maggi’s words are not rash remarks, rather, they bear a certain weight. Exposed to business at a young 48

age through her father’s company, she admits that witnessing all the challenges, successes and sacrifices fuelled her life’s aspirations, which led her to the role of Deputy Chairperson of MMH Malta Ltd and YCN member. Ms Maggi believes that having cross-industry contacts is an important part of the formula in honing a successful business, especially in the case of a young one. “The YCN will expose these advantages and all the different facets that the Chamber has to offer, whilst creating opportunities to network with your peers who are also developing their own businesses and facing their own challenges,” she says, laying the foundations for a more collaborative approach to business.

Rebecca Barbaro Sant is also a firm believer in the power of collaboration over an excessively competitive approach. As the

founder of hybrid marketing consultancy The Authentic Brief, Ms Barbaro Sant is a staunch supporter of incorporating creative thinking within any business process.

Through her membership with the YCN, she is able to lend her expert views and assist in its brand development while also being able to refer members to clients and potential customers. Her comments highlight the benefits that come through building strong alliances – while assisting others in achieving their end-goal, she is given the opportunity to connect with other businesses and forge a relationship built on trust and a common purpose. Ms Barbaro Sant is positive that the YCN “can quickly flourish into becoming my right-hand tool to network both locally and abroad,” adding that such opportunities are “priceless for upcoming entrepreneurs”.

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“[The YCN] can quickly flourish into becoming my right-hand tool to network both locally and abroad.” – Rebecca Barbaro Sant, Founder, The Authentic Brief

Indeed, Mr Sullivan is especially mindful of the benefits such opportunities can generate and is eager to give his input in modernising Sullivan Maritime Ltd hand in hand with the young generation through the support and expertise of the more skilled workers.

He asserts that having the option to “meet fellow members to discuss and share ideas on various relevant topics” is an incentive for others to experience first-hand the importance of a peer-reviewed approach to business and eventually implement it into their own individual frameworks.

Meanwhile, drawing from her background in the legal field, Dr Farrugia is eager for the opportunity to push an agenda where the voice of the younger generation of entrepreneurs is heard. “It’s all about creating networks where healthy collaborations can flourish and, more importantly, givers can gain,” she says.

Ultimately, it boils down to a growing consciousness prevalent across all industries.

“For businesses to survive and thrive, our people, our most valuable resource, need to be well-educated, have a healthy and balanced lifestyle, and be eager to take on the challenges of a very dynamic business landscape,” the Chair of the Committee emphasises, adding that, being innovative, keeping an open mind and possessing the ability to operate in a multicultural setting are key skills that have become invaluable in today’s business world. “Our future business leaders need to inspire all this in the people they engage,” she says, stressing that “the businesses we run need to meet the growing aspirations of the people we employ and the customers we serve.” This encapsulates the Chamber’s aspiration for the YCN: supporting each other to aim higher. cc

“It’s all about creating networks where healthy collaborations can flourish and, more importantly, givers can gain.” – Dr Gianella Farrugia, Legal Consultant, SMM Group OCTOBER/NOVEMBER 2019

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CC BUSINESS

Behind the scenes: The company servicing Malta’s technical industries Pharmaceutical companies, technical labs, medical facilities and quality assurance entities all have one thing in common – they require highly specialised and highly technical ongoing support services. Helena Grech meets with Evolve Ltd Managing Director Christopher Busuttil Delbridge to understand what goes into designing, equipping, training and maintaining such technical spaces.

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volve Ltd is not a company that seeks to make headlines, despite being around for some 20 years. It offers specialised services to entities that engage technical people, such as scientists, doctors, surgeons and engineers, for the setting up of laboratories or facilities to perform quality control activities, to carry out testing or to perform industrial or healthcare tasks, among others.

The company’s Managing Director, Christopher Busuttil Delbridge, was one of the first two employees to join. He says that, in a nutshell, Evolve can assist technical entities in four ways: designing, equipping, training and maintaining of facilities.

Mr Busuttil Delbridge explains that Evolve “can design technical spaces, whole factories or labs, extensions to existing facilities, operating theatres or even hospital wards.

By equipping, we oversee the importation of lab furniture and equipment, as well as offer consultancy services to help find the right suppliers. In terms of training, we advise on the best methods to use for specific equipment, how to achieve the best efficiency and how to configure software within the relevant technical environment.

We also offer a maintenance service in order to keep efficiency at a maximum.”

When asked to describe his role, he says that, primarily, he is a scientist and that most of his team are scientists too. The Managing

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Director’s first degree is in chemistry and biology, after which he read for a Master’s degree in wood conservation science. “After that, I spent 20 years at the university of life,” he quips.

Servicing technical industries like pharmaceuticals requires staff to have highly specialised knowledge about their clients’ specific industries. So how does Mr Busuttil Delbridge ensure that the expertise and know-how is up to scratch internally in order to serve clients in a timely, relevant and professional manner?

He explains that the company is split into various business units: industrial labs, healthcare and diagnostic environments, after-sales, administration and support functions, and industrial quality control laboratory environments.

In view of the highly specialised nature of its work, Mr Busuttil Delbridge remarks that staff “all have expertise in their respective industries. The most important attribute is not to be an excellent scientist, although that goes a long way, but to adhere to and align with our core values. That is the first filter that we go by to choose our people because a company is nothing without its people. I want people who are better than me. I want the best in the industry to be able to offer the best.”

Mr Busuttil Delbridge is passionate about the company and the work carried out by

Photos by Inigo Taylor

its staff, currently numbering 27 employees.

“I often tell my employees that our efforts affect millions of people each day,” he adds. How so? I ask. The Managing Director explains that the products that Evolve helps to control, maintain and analyse “actually go into braking systems in cars, pharmaceutical pills, life-saving equipment and even mobile phones”.

“So,” he continues, “this group of 27 people and growing, touches the lives of so many people around the world and this dimension gives us not only pride in what we do but holds us accountable to the importance and precision of our services.”

In line with this focus on delivering such OCTOBER/NOVEMBER 2019

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important services in a precise and efficient way, Mr Busuttil Delbridge highlights the company’s core values which guide its dayto-day decision-making: PRIDE – standing for positivity, respect, integrity, dedication, and exceeding expectations. While this may appear to be an abstract concept, he stresses that these principles are not just words on a poster displayed in the office. In the realm of positivity, for example, “everyone has challenges but how you decide to communicate your news, how you react to any given situation, any given challenge, can be tackled in a positive or a destructive manner.”

“We actively encourage people to choose positive. How? Through our language; we have OCTOBER/NOVEMBER 2019

built a library for our people focusing on positive psychology. We invested nine months of coaching and workshops on positive psychology by the only certified trainer in Malta in the field. It goes a long way.”

Turning to respect, Mr Busuttil Delbridge stresses that showing respect to clients and demanding respect for the work carried out for clients is “a very important part that employees should know.” In terms of integrity, he cautions that while it is easy to do the right thing with people watching, “in business, many opportunities arise that allow you to cut corners. We have never done that and we do not plan to start doing so in the future.”

“This group of 27 people and growing, touches the lives of so many people around the world and this dimension gives us not only pride in what we do but holds us accountable to the importance and precision of our services.”

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“Evolve is transforming from a locally-based company focusing on Malta to a locally-based company focusing on a region.”

OCTOBER/NOVEMBER 2019

As for dedication, Mr Busuttil Delbridge concedes that staff work long hours, inclusive of Saturdays and evenings, in order to get the job done in a timely fashion.

Explaining the need to work such hours for certain projects, he notes that “we are currently installing a lab. In this case, we were engaged to work at the very end of the whole process. The first stage is the building of the lab, followed by works on the floor and, finally, all civil works have to be carried out. Only when these processes are finished are we asked to commence our part of the

project. So the project is already delayed before we step in and, as a result, all the pressure mounts on us. In some cases, we’ve even had to send a person overseas to collect a part, with the expectation that he would be back by the evening.”

He explains that, as a company, such extra services come at no added cost to the customer. “It’s easy to say yes to a client and then cross-charge them for the extra time needed. We do not do this. If we give our word that we will finish within a specific timeframe, we try to meet and even beat this deadline.”

Mr Busuttil Delbridge goes on to explain that Evolve is in the process of carrying out a rebranding exercise which will see the company take on a whole new image, encompassing a transformation from an import/export company to a project-oriented, professional services-oriented company. He clarifies that Evolve has invested heavily in its infrastructure, being the first company in the field on the island to become certified in ISO9001, an international standard that specifies requirements for a quality management system. Organisations use the standard to demonstrate the ability to consistently provide products and services that meet customer and regulatory requirements.

In addition, Mr Busuttil Delbridge maintains that the company has invested in “the best customer relationship management system in the world. It is not just on the shelf but we use it in our everyday jobs to the advantage of our customers, our efficiency and our stakeholders. We have also invested heavily in changing the company culture.”

With the rebrand, he muses, “we are looking to do justice to what we have been doing all these years. We are trying to communicate our company more clearly, to represent who we really are today and where we are heading in the future.”

Mr Busuttil Delbridge elaborates that “Evolve is transforming from a locally-based company focusing on Malta to a locally-based company focusing on a region.” He highlights that the company has undertaken projects around the world but has identified SubSaharan Africa as a region of interest. “This decision has not been taken to the detriment of our local market; Malta will remain 100 per cent serviced. We are investing in additional resources and partnerships to tap into foreign jurisdictions, rather than shifting resources away from operations in Malta.”

Sub-Saharan Africa was singled out, among other reasons, for its potential for development, its stability and the widespread use of English. Apart from these factors, Mr Busuttil Delbridge says that “most companies I meet are led by a business strategy, and on the side, when things are performing well, they carry out some corporate social responsibility (CSR) activity.”

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“I like to think of Evolve as CSR with a bit of business on the side. We love what we do in terms of science, enabling people, making people’s lives better by helping technical people focus on what they do best, on what they are trying to do, like save lives or innovate. We have done this in Malta for 20 years and saw that, actually, the island has been like our test bed.”

“We have learnt so much and have so much more to learn but now we want to help others do it. Where do we go? Europe, where they are so much more advanced than we are? No, we want to go somewhere where we can use our expertise to help. I believe this is the best industrialising region for a number of reasons.”

Mr Busuttil Delbridge shares a moment of serendipity, as he reveals that, following the company’s decision to focus on SubSaharan Africa, Government announced the opening of two new embassies in the region and is adopting a Government-toGovernment approach in terms of sharing expertise. “We are very keen on helping that transformation as we did in Malta.”

Meanwhile, on the topic of new opportunities on the home front, Mr Busuttil Delbridge discusses the legalisation of medical cannabis, introduced in March 2018, saying that it provided Evolve with “massive opportunities”. While the process of medical cannabis companies setting up 56

in Malta has been slower than expected, Mr Busuttil Delbridge stresses that the legislation has “taken Malta by storm”.

Elucidating on the company’s strategy following the introduction of medical marijuana, he says: “we positioned ourselves at the forefront by investing heavily. We had a massive stand at the World Medical Cannabis Forum last November and will do the same this year.”

He goes on to state that the medical cannabis industry offers a big opportunity for the company as it exists in the realm of pharmacology, an industry Evolve is highly specialised in. “We offer services ranging from the design of a whole facility to equipping that facility, training its staff and maintaining it. We would like to communicate to investors coming to Malta to work within this industry that we are prepared for them.”

Mr Busuttil Delbridge points out that, currently, the company is working on the finishing stages of the first local medical cannabis facility and that Evolve is the only company in Malta to have commissioned, designed and built such a facility. He believes that the future is bright for this industry and that plans in the pipeline are intended to disrupt the supply chain process of procuring technical equipment and materials. He promises to share more about this in the future, as it unfolds. cc

“It’s easy to say yes to a client and then cross-charge them for the extra time needed. We do not do this. If we give our word that we will finish within a specific timeframe, we try to meet and even beat this deadline.”

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Nurturing Malta’s start-up scene and driving innovation Through its novel concept called bitpod, auditing and business advisory firm PKF Malta has launched an initiative of its own to bring professionals together with one common aim: to build an ecosystem for Malta’s startup and innovation sector. Martina Said meets the minds behind it.

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efore ‘blockchain’ and ‘crypto currency’ became the buzzwords of the last two years in Maltese industry, a local audit and business advisory firm was doing finding outs of its own to bring innovation to Malta in collaboration with some of the most reputable international players. The firm is PKF Malta and, years down the line since its first attempts in this arena, it is beginning to reap the fruit of its labour.

I meet PKF’s Senior Partner George Mangion, the Head of Legal, Marilyn Formosa and Digital Marketing Assistant Tamira Spiteri at the firm’s new offices in Birkirkara to find out about their innovation-driven project called bitpod, the workings for which have been a long time in the making.

Photos by Alan Carville OCTOBER/NOVEMBER 2019

The company’s first forays into the field of innovation began with a trip to the USA five years ago, when Mr Mangion visited the CIC, an international business accelerator, later also Massachusetts Institute of Technology (MIT), world-renowned for its technological research, to create a collaboration between the two sides. The US investors offered 20 per cent of the investment cost to set up an innovation hub, but the public sector decided it was early days to participate with an international player – saying it was like putting the cart in front of the horse.

Although it didn’t take off, the team at PKF came to realise just how hard Malta needs to work to attract interest from the big players. It continued pressing on to do its part.

“The concept behind bitpod was to create an informal setting for people and professionals to get together and work towards the same goal, that is, to foster innovation in various sectors in Malta.” – George Mangion, Senior Partner 59

CC FINANCE “Last year, Mr Mangion and I visited Zurich and Zug, in Switzerland, the latter being a town that is very much focused on driving innovation and aiding start-ups, and we noticed that, in this town, they have the culture that we lack,” says Dr Formosa.

“They have all the tools start-ups need to thrive and, more importantly, they have an ecosystem, which is what we need in Malta to help companies still in their early stages.”

While in Zug, they attended a venture capital café, which is open to the public and where discussions are held regularly in a casual setting. There, investors, start-ups and interested parties meet, discuss and exchange ideas. “It is a great environment for encouraging innovation and creativity, and it was around that time that the idea for bitpod

came together. The innovative technology industry in Malta was also starting to peak at that time,” says Dr Formosa.

From his extensive travels and the numerous overseas conferences he attended, Mr Mangion found that the lack of an ecosystem on an island as small as Malta proved to be the biggest challenge.

“The puzzle is in place and there are many pieces but some are missing and others just need to be put together,” he asserts. “The concept behind bitpod was to create an informal setting for people and professionals to get together and work towards the same goal, that is, to foster innovation in various sectors in Malta. It is a quasi-lab that gives professionals the space to present, share and discuss their work with others.”

“We started by organising and hosting webinars… to create a channel for people to exchange experiences and information on a specific topic.” – Tamira Spiteri, Digital Marketing Assistant

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Mr Mangion adds that innovation in Malta is thriving and, last year, blockchain was the topic on everyone’s mind. “Government was keen to propel this industry forward and it did, but now the growth of the industry supported by professionals on the ground needs to be developed beyond sponsoring of mega summits. Just notice how other European countries, some of which are much bigger than ours, have jumped on the bandwagon,” he asserts. “Estonia, for instance, has marched ahead of us and registered over 1,000 DLT companies, even though they haven’t as yet faced the challenges that Malta did to set up the necessary legislation, which was rushed at breakneck speed last year. The framework to regulate these companies gives Malta an edge over other countries looking to do the same but although we started early, competitors are catching up with us.”

Dr Formosa says that Malta has reaped the fruits of its labour in several niche sectors, namely financial services, pharma, aviation, filming and iGaming, but it is still a long way from being a hub for research and development. Budget 2020 has encouraged it but the necessary public funds are missing.

“This is evident to anyone who works in this field,” she says. “There’s a lot happening, albeit slowly – namely MITA on behalf of Government, which has a programme for start-ups; ZAAR, which is a platform for crowdfunding; TakeOff, the University of Malta’s incubator programme; as well as the Malta Life Sciences Park,” she explains.

“But there isn’t necessarily correlation and we are not yet homogenous. We hope that our modest effort, through bitpod, will add a brushstroke contribution to this sector and we are confident that, eventually, we’ll get there.”

In its first year, bitpod was focused on establishing a communication channel between various professionals in Malta. “We started by organising and hosting webinars, which is what we’ve done throughout season one,” says Ms Spiteri. “We hosted nine episodes where we talked about blockchain, anti-money laundering (AML), know your customer (KYC) and a variety of topics related to financial services and blockchain, and what we set out to do with these webinars was to create a channel for people to exchange experiences and information on a specific topic.”

The webinars created a space for start-up companies to learn, speak and be heard on specific topics, ultimately helping to build and contribute to an ecosystem that is one of the goals of bitpod, Ms Spiteri explains.

“We’re now taking it a step further with season two and instead of webinars, we’re launching podcasts. We won’t be limiting ourselves to highly-specialised topics either and will include start-up companies in the conversation as well.”

This isn’t the only way PKF Malta is OCTOBER/NOVEMBER 2019

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“Perhaps we underestimate ourselves but Maltese startups have ideas as good as any in Silicon Valley and beyond.” – Marilyn Formosa, Head of Legal

reaching out to start-ups. The company recently moved office and is offering its old premises to up-and-coming companies that need a place to work from until they find their feet. “We started putting word out this year that we have readily available space for start-ups but no one came knocking on our door,” says Dr Formosa. “Recently, we had a meeting with an entity that’s heavily involved in the local start-up scene and they were surprised that no one responded to our call because there is such a need for space. We are now in preliminary talks with entities to put the space to good use and should have made inroads in this regard by Q1 next year.”

This opportunity could be a lifeline for some start-ups because, often, one of the main obstacles for fledgling companies, especially ones specialising in tech, is the lack of venture capital. Mr Mangion points out how the venture capitalist cafés he discovered in Switzerland as well as Boston, in the US, showed just the sort of approach that was needed to cultivate a healthy start-up culture, where informal meetings could lead to big breaks. “As stated earlier, Malta cannot emulate this approach as it doesn’t afford the funds or resources to do so but we must start to put our money where our mouth is. As a country, investing €650 million annually in education still exposes a high early school leavers percentage. An initiative like bitpod will help put us a step ahead,” he explains.

Alongside the podcasts, PKF, through bitpod, will also be hosting regular think tank sessions. “We are emulating the Swiss model of gathering professionals in a casual environment to share thoughts and exchange opinions on specific topics over drinks and snacks. The casual nature of it is important as it encourages people to be more forthcoming,” says Dr Formosa. “We’re not inventing anything new here, simply trying to do something effective and that works.”

Co-founded with financial crime consultant Philip Bugeja, the think tank sessions help provide security in numbers, she adds.

“Alone, it’s much harder to get anything done but together we can bring about change.

Also, through the think tank sessions – the first of which took place last month, on AML, and which are by invite only – we get to be a semi-lobby group and raise awareness on specific subjects of interest to industry.”

Mr Mangion adds that building bitpod OCTOBER/NOVEMBER 2019

as a lobby group could help yield tangible results. “We hope to encourage the Malta Development Bank, which is a Government institution with a reasonable amount of capital, to improve funding schemes on offer and which will not be beset by the European risk profiles that are currently besieging our banks,” PKF’s Senior Partner asserts. “It is common knowledge that banks in Malta are currently de-risking and consequently investing money in venture capital projects is not their top priority. So, as we meet these start-ups and learn more about them, we are aiming to lobby Government agencies to invest in the right ideas.”

Despite the challenges, the bitpod team is

optimistic about the local start-up scene and its future, and is working towards achieving its goal of creating a sound ecosystem that builds up, rather than puts off, entrepreneurs from pursuing their good ideas. “Perhaps we underestimate ourselves but Maltese start-ups have ideas as good as any in Silicon Valley and beyond,” says Dr Formosa. “But while there are programmes that offer some funding to get them going, once that funding runs out, then what? There’s no followup and they simply perish away. Surely, the bitpod concept cannot fill all the gaps and we’re not looking to be everything to everyone but, in the ways that we can, we are trying to be.” cc 61

CC LOGISTICS

The cost of quality At Express Trailers, the cost of quality does not only deal with the service delivered but transcends it to address the more holistic concept of the brand promise. “Our #WeAreOrange tagline is more than just a tagline. It is a seal of what we stand for. And quality, in all of its elements, is one of these,” says Franco Azzopardi, Chairman and CEO of Express Trailers.

I

n accounting terms, the cost of quality is defined as “a methodology that allows an organisation to determine the extent to which its resources are used for activities that prevent poor quality, that appraise the quality of the organisation’s products or services, and that result from internal and external failures.”

“For us, quality is enshrined in the legacy, an inherited tradition, a corporate culture made of family values where people are the highest priority. Quality is reliability and timeliness. It is the passion of a tradesman and a craftsman. This is where quality starts for us in our value promise to our customers, our people and all stakeholders we affect in any way,” says Chairman and CEO of Express Trailers, Franco Azzopardi.

“When we speak of quality, we go beyond the perceived value of the service we offer and we concentrate on the creation and delivery of our service within a set of values that meet the long-term expectations of those who decide to make our company their transport and logistics 62

partners and experts,” he adds.

“We work very hard to sustain and improve the perceived value of the company by investing in our three main business enablers namely, our equipment, our space and our people. Our bright orange coloured fleet was always at the forefront of any long-term investment and whenever the company looked at growth, this was always in terms of fleet resources because an upgraded and diversified well-kept fleet enables better and more efficient logistics operations that satisfy clients’ increasing demands. We guarantee a quality service based on constant investment in new transportation vehicles and in the best drivers that help us operate in the safest and most reliable manner.”

The company’s value is also reflected in the people it attracts and retains. We have worked hard with our strong management team made up of both family and non-family members, and we focus a lot on our people, and invest a lot to offer them continuous training and education to turn them into true logistics specialists and better people overall.

The launch of our Express Training Academy last year and our recent huge investment in our new and modern multi-media The Link training centre reflect the importance the company gives to its people, who ultimately return more value and quality to our customers and our shareholders.”

Mr Azzopardi highlights the fact that over the past months, Express Trailers has been actively trying to educate and inform various stakeholders who somehow come in touch with the world of transport and logistics to help them realise what a sophisticated and specialised industry this has become.

“Express Trailers has been undergoing many internal changes in terms of operation and technology systems throughout its different business activities. The prevention costs we speak of are in terms of the substantial investment we have been undertaking not only to bring a change in our collective thinking process but also to strengthen the way people look at our company. It has been an exercise in defining the cost of Express Trailers’ quality OCTOBER/NOVEMBER 2019

CC LOGISTICS exercise of optimising our processes and the space where we work to reach more efficiencies.”

Mr Azzopardi refers to Express Trailers’ large fleet of trucks and trailers on the road as probably the biggest challenge the company faces daily.

“We are constantly striving to find a balance between our operations, while ensuring that our presence on the road causes the least danger or inconvenience possible. Alongside this, managing all the risks involved in the handling and delivery of any goods, whatever the circumstances, is another challenge that we face daily.”

“In the end, quality is relative and this is what determines the price. If, say, a customer wants to spend very little for a car, he cannot expect leather seats and the latest navigation and safety features to be included. He can only expect the vehicle to run properly and take him from one destination to another. In this case, quality

is considered to be a vehicle that functions, rather than a luxury experience.”

“We are not after offering a luxury experience but an experience that empowers our customers, their businesses and their lives. The cost that our customers pay for our services reflects an intricate set of processes and operations through which we can guarantee a service at the lowest risk possible. The key challenge will always remain that of ensuring that our operations remain relevant and competitive in a dynamic sector that is becoming more elaborate and timesensitive. Striking the right balance between a quality service at a price that reflects it, is a win-win situation for both ourselves and our customers. Because ultimately, mitigating the risks involved not only increases the profitability of a business, but enhances the level of customer satisfaction and retention,” concludes Mr Azzopardi. cc www.expressgroup.com

Our promise of ‘delivering anything from anywhere to anywhere’ stems from a legacy and an inherited tradition of family values where people and customers are the highest priority.

proposition,” says Mr Azzopardi.

Speaking of investment, Mr Azzopardi draws attention to what he describes as ‘the three principal business drivers’ in the industry namely people, equipment and space.

“Investment needs to be incessant in all three areas of resourcing because ultimately, this is what guarantees the quality service that our customers demand from Express Trailers – the same quality that helps us guarantee our Excellence, Experience and Expertise proposition,” he says.

“Among the many internal changes that we have affected over these past months is a long process of implementing a new Core Transport Management System, a platform which we consider to be the heart of our system and that enables us to be at par with the highest international standards. This was like major surgery in our operations and methods, and it is changing the way we take bookings, to the way we plan the delivery and the invoicing cycle. Our commitment to quality is also being built on an ongoing OCTOBER/NOVEMBER 2019

Express Trailers has worked hard to build a strong management team made up of both family and non-family members where the prime focus is to keep investing in quality people who through continuous training and education become true logistics specialists.

Powered by Express Trailers, ShipLowCost is helping more and more customers bring their online shopping to Malta and online sellers to send their products to anywhere. It is based on the trust that people have in the quality and expertise of Express Trailers in logistics and in its propensity to manage risk.

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CC FINANCIAL SERVICES

FinTechs – Evolving the banking industry and the capital markets

By Dr Johan Farrugia The financial services industry is currently undergoing one of the biggest transformations in its history, with FinTechs pervading the various strata of the sector, the most notable being the banking and the capital markets spheres.

The sectors have, in fact, been transformed thanks to big data, peer-to-peer lending, blockchain, crowd funding and digital payments, to name a few. However, FinTechs have shed light on the financial industry’s ineptitude, to some extent, to capitalise on and integrate new technologies. Arguably, ever since the financial crisis of 2008, for example, banks have been so busy dealing with the regulatory requirements and fines imposed on them that innovation became a distant priority. A gap was created, therefore, between what banks were offering and what the customer started to expect.

That gap is what FinTechs have been trying to address. In fact, new and dynamic FinTech start-ups are offering products that used to form part of the portfolio of services offered by traditional banks. Peer-to-peer platforms offer consumers an alternative to loans which used to be previously available mainly from banks. Robo-advisory platforms offer consumers asset management solutions that are not only more transparent in what they charge but substantially cheaper.

Malta’s enactment of the Virtual Financial Assets Act, among other legislative efforts, has also opened new doors and opportunities for expansion into the capital markets. The surge in ICOs and, more recently, STOs and IEOs, for example, is testament to a paradigm shift in the capital markets space from traditional IPOs to alternative models of fund raising from the general public built around emerging technologies including blockchain and similar decentralised ledger technologies. That said, whilst the listing and trading of virtual financial assets (such as crypto assets) is today possible on a multitude of virtual exchanges set up over the past couple of years, with the likes of Binance and OKEx setting up shop in Malta, the listing and trading of security tokens and other digitalised assets is yet to be ‘democratised’ internationally, with only a handful of Multilateral Trading Facilities and Regulated Markets opening to the idea of moving into this space.

In a continuous pioneering vein, Malta will soon be one of the first EU member states to launch a number of digital asset

OCTOBER/NOVEMBER 2019

trading platforms. Besides a couple of private initiatives, in August of 2018, the Malta Stock Exchange plc, a Government-owned and controlled company which operates the only regulated market in Malta, signed two MOUs with a view to establish MSX and OKMSX in a joint venture with Binance and OKEx, respectively.

Capital markets can at times be an alternative to traditional banking finance. As a business grows, its funding requirements increase concomitantly. Having had the opportunity to act as advisor to a number of local banks and FinTechs (including up and coming digital banks), as well as playing an active role in the capital markets space both as legal advisor on the main market and as an authorised Corporate Advisor on the Prospects MTF operated by the Malta Stock Exchange, we are witnessing an increasing shift to capital markets by Maltese businesses looking for funding opportunities. In most cases this coincides with a change in management where shareholding and board structures in SME businesses which in Malta are typically family run, experience a generational change where the older generation, generally resistant to opening up to the general public for funding opportunities, hand over to their next of kin, who are typically more keen to embrace more novel fund raising methods including IPOs, STOs and ICOs. The Prospects MTF has proven particularly relevant and effective in this space where SMEs, which account for a large proportion of Malta’s economic growth both historically and in recent years, face less barriers to entry and costs typically associated with a main list listing, thereby allowing numerous SMEs operating in varying industries to come to market for the first time and in the process shoring up their resources including internal structures and corporate governance. cc

“In a continuous pioneering vein, Malta will soon be one of the first EU member states to launch a number of digital asset trading platforms.”

Johan Farrugia is a qualified lawyer and Lead Senior Associate at DF Advocates.

Johan’s principal areas of practice are capital markets, investment services, banking, Initial Coin Offerings (ICOs), digital markets and digital ledger technology (DLT) related projects.

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With the industry’s relentless push towards constant technological advancements, especially in the fields of artificial intelligence and crypto currency, it is easy to overlook the more convenient developments that add a touch of comfort to our everyday life.

Caroline Curmi compiles a list of the latest gadgets that will help you deal with the seasonal transition with ease and luxury.

01. Ember Temperature Control Travel Mug Nowadays, even enjoying a nice cup of coffee is a race against time. Beating the dreaded cold coffee curse is now a possibility thanks to Ember’s Travel Mug. Its sophisticated technology allows you to customise the coffee’s temperature and experience the difference in aroma caused by a minor degree variance. Enjoying coffee can now not only be done at your own pace but it also protects the clumsy ones from unfortunate spillages thanks to the mug’s leakproof lid.

04. GilletteLabs Heated Razor Starter Kit

GADGETS

How can technological advancements affect a traditional device that has been a grooming staple since its invention? Now, a clean shave can be enjoyed with the added comfort of a warm towel sensation to every swipe. Its five-blade structure incorporates adjustable heat settings, is waterproof, allows for wireless magnetic charging and possesses a face-contouring feature which helps the razor to mould around the user’s face for an even cleaner finish.

05. Philips SmartSleep DeepSleep Headband Do you find it difficult to rest at night?

Whether it’s because of sleep apnoea, insomnia, or the lack of hours in the day, there is now a foolproof solution to waking up refreshed and rested. This headband has a built-in sensor that monitors your sleep patterns, detects when you have reached a deep sleep stage and emits sounds to complement this phase. It has been clinically proven to affect the quality of sleep of the wearer. cc

Ember

Tech Trends

01.

Bose

02. Dulurf Smart And Essential Oil Diffuser

03.

AI has allowed us to manipulate reality, but now you can also manipulate scents. Apart from creating delightful aromas, this diffuser allows you to play with colour, brightness, light and intensity to create the perfect ambience for a quick aromatherapy session, be it at home or at work. There is one more added perk: you can power it either orally or via an app, and it can also be connected to Amazon Alexa and Google Assistant.

02.

03. Bose Frames Audio Sunglasses Sunglasses with a soundtrack – yes, you read that right – are now widely available on the market. Miniaturised Bose speakers concealed in the temples allow wearers to jam along to favourite tunes with very minimal discomfort, if any, to surrounding crowds. The perfect balance between staying connected to the digital world and being present in the physical one.

Amazon

Gillette

04.

05.

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Philips

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STYLE

Style Review

01. Waist belts While recent fashion cycles have favoured looser, baggier clothing, this season sees the return of the cinched-in silhouette. Add a waist belt to your coats, dresses and knits for striking definition which makes the most of your curves, whatever their gradient. Any colour or width will work for this trend – just keep an eye on those tonal contrasts.

02. Vintage watches If you’re looking to invest in a trend which will not go out of fashion anytime soon, then this is it. Vintage timepieces – classic designs showcasing the latest in technology – have always been statementmaking accessories but, this season, there’s an increased focus on quality and longevity, whatever the gender.

02.

03. Corduroy

Yes, even for men. Moody blooms could be seen strutting down catwalks this season, with the pattern featuring on every piece of clothing imaginable, and for all genders. Deep florals enriched the wearable designs of Prada, Marc Jacobs and Paco Rabanne, among others, with this trend also able to see you into the festive season.

05. Power dressing Once the fashion catchword of all 1980s career folk, power dressing morphed into the more sedate work wear which characterised the 1990s and beyond. But everything makes a comeback and, this season, these stylised cuts are back in – precise tailoring, over-extended shoulder pads (yes, you read that right) and sharp suits will redefine office spaces over the next few months.

Hobbs UK

This month’s autumnal winds have heralded in a new fashion season, so what better time is there to revamp your wardrobe and closets with the latest musthaves? Rebecca Anastasi picks her favourites.

06. The urban cowboy or girl

01.

Get back to basics with an eco-twist to the Wild West theme, toned down slightly to fit in with metropole lifestyles, of course. Think snake-print accessories (even boots!), boot-cut jeans and wide-brimmed hats, in black or brown – perfect for when the rain starts to splatter, though you might need to hold on to them on those windy days. cc

04.

Chopard

Corduroy always seems to make a comeback as the colder season blows in, and this autumn is no different. Don a jacket, skirt or a pair of trousers in deep burgundy, sand, or navy blue for a classic look which will take you from work to chill, seamlessly. You can even go for a looser style, worn during weekends where all you want to do is kick back with a good book.

REVIEW

04. Florals

Massimo Dutti

03.

Hugo Boss

Anthropologie

Ted Baker

05.

06.

Dolce & Gabbana

OCTOBER/NOVEMBER 2019

Monsoon UK

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CHAMBER/86

NEWS Events & Initiatives

01. Staff discusses future of the Chamber Chamber staff members spent a day away from their desks, in August, to contribute their views and ideas on the future of the Chamber. The fruitful discussion provided management with valuable insights into the operation of the Chamber from the individuals who run the show on a daily basis.

Chamber President David Xuereb spoke about the ambitious restructuring plan taking place at the Chamber and emphasised the significance of change to keep up with the ever-shifting economic scenario of the country for the benefit of the members of the Chamber.

Director General Kevin J. Borg presented an overview of the restructuring plan and underlined the importance of an open discussion, featuring the participation of as many individuals as possible, for the process to be a successful one.

Board of Management member Liz Barbaro Sant joined the discussion and made a presentation about her first-hand experience dealing with leading European Chambers in Dublin and London.

A group discussion followed, during which ideas were put forward by the staff members themselves on changes they felt were required to equip the organisation with the necessary tools and infrastructure and, thus, better serve its members in the years to come.

The day included a tour of the Malta Maritime Museum, followed by a historical lunch at the same venue.

02. No answers on Residential Leases Act concerns can only make matters worse Expressing its disappointment in a press release issued on 10th September, the Malta Chamber noted that even though it had registered its concern in July on the inadequacy of the proposed Residential Leases Act, Government had not yet provided a shred of comfort to its concerns and everything seemed to be on track to go ahead as originally planned.

The Chamber was reiterating its position on the proposed legislation on residential leases, which, in July, it had described as half-baked and “falls short of addressing the decades-long issues that plague the residential rental market.”

The Chamber noted that, during a press conference on 21st July, it had expressed its dismay that, despite its efforts for the best part of the last 12 years, successive OCTOBER/NOVEMBER 2019

03. administrations had ignored its proposals for a holistic plan for both the commercial and the residential rental markets.

The Chamber explained how the proposed Residential Leases Act completely omits pre1995 leases and fails to tackle its main social/ economic objective: that of safeguarding and protecting the right to adequate, affordable accommodation for all residents.

“The Chamber remains of the opinion that the country needs a holistic plan for the rental market. The piecemeal approach will not align the rental market to the needs of our society and economy. To this effect, the Chamber once again offers its expert support to Government and the relevant legislators through its tangible experience and suggestions,” the press release said.

The Chamber urged Government to start the process afresh and take the proposed legislation back to the drawing board.

“This is the time to take concrete action, as superficial stop-gap efforts will not solve any of the problems faced by this important sector,” the Chamber concluded.

03. Malta Chamber hosts annual summer drinks at Sheer Bastion The Malta Chamber held its annual summer event on Wednesday, 11th September, at the breathtakingly beautiful

Sheer Bastion, in Senglea. Established members of the business community were joined by their younger peers as they shared a gin or two in a relaxed atmosphere of fun.

The event is a significant appointment for the business community as it is central to the social aspect of the Chamber's life, giving entrepreneurs the opportunity for networking in an enjoyable setting.

04. Competitiveness, reforms, sustainability and investment in RDI characterise Chamber proposals for pre-Budget 2020 The Malta Chamber published its proposals for the 2020 Budget during a press conference in September. ‘Proposals and recommendations by the Malta Chamber of Commerce, Enterprise and Industry for the 2020 Budget’ presents the views and recommended solutions of Malta’s business community to the challenges which are foreseen to characterise 2020.

Addressing the media, Chamber President David Xuereb said the Chamber had chosen to focus its attention on six main issues which it deemed to be of crucial importance and which warranted Government’s immediate attention. In fact, the document zooms in on the issues of competitiveness and economic growth, 73

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increased employment costs, alternative modes of transport, reforms in the rental market and the construction industry, the financial services sector and RDI. While taking note of the positive drive that has characterised the economy in recent years, the Chamber warned of forecasts which appeared to point towards relatively slower rates of economic growth in the years to come.

04.

05. Becoming leaders for a day The Malta Chamber hosted the annual JAYE Malta programme Leaders for a Day round-up event, which took place at the Chamber’s courtyard in September. The event brought together business leaders and participating students who took part in the day-long event, which exposes students to the workings of Malta's foremost businesses and the realities of running a business.

The Malta Chamber’s Director General Kevin J. Borg who was shadowed throughout

the day by a participating student, had positive comments about the event and said that Leaders for a Day proved to benefit both participating students and businesses alike.

Participants of the programme shared their experiences of the day, shadowing Malta's foremost business leaders.

Welcoming participants, Council Member Chris Vassallo Cesareo said that the Malta Chamber believed wholeheartedly in such an initiative and had always supported JAYE in its efforts to promote an entrepreneurial culture among the young.

06. Closing of Thomas Cook underlines importance of strengthening Insolvency Fund In a press release issued in September, the Malta Chamber’s Tourism Business Section noted the closing down of iconic company Thomas Cook.

The Tourism Business Section, however, added that this meant that consumer behaviour patterns were shifting quickly due to rapid developments in technology as well as Brexit.

"As the local economy still heavily depends on the tourism sector, the country cannot take such developments lightly. We need to ensure that risks to the sector are effectively mitigated," the statement said.

The Tourism Business Section also noted that the vast majority of holidaymakers’ arrangements were covered through different types of financial protection: the majority were flight packages covered by ATOL, the UK's version of an Insolvency Fund.

"It is in times like these that the Chamber cannot but stress the importance of having a functioning Insolvency Fund that caters for similar situations happening in Malta.

The Malta Chamber has expressed itself on the matter and continues to underline the importance of strengthening such a structure to safeguard the rights of travellers," the press release concluded.

07. Chamber reiterates need to address labour costs at PN pre-Budget document launch

05.

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At the launch of the Partit Nazzjonalista’s pre-Budget document in September, Malta Chamber Director General Kevin J. Borg said that, while the Opposition’s proposals for the upcoming year mirrored several arguments made by the Malta Chamber, it was felt that it needed to further clarify its position with respect to dealing with the inflation of costs related to employment.

On behalf of the Chamber, Mr Borg warned that these were directly impacting OCTOBER/NOVEMBER 2019

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businesses’ competitiveness, especially those sectors which were competing on the international market.

Mr Borg said that the Chamber agreed with the Opposition’s objective to start looking at the sustainability of the country’s economic growth, while assuring a better quality of life for all.

08. Employer organisations voice their position against compulsory union membership with Minister During a meeting with the Minister for European Affairs and Equality Edward Zammit Lewis in September, the Malta Chamber, leading a delegation of employer organisations, explained its position against compulsory membership of employer or employee organisations, which, in the organisations’ view, should remain a free choice of the individual or the business.

Flanked by the Malta Employers’ Association and the Malta Hotels and Restaurants Association, the Malta Chamber explained that the right to freedom of association is enshrined in ILO directives and the freedom of association implies also the freedom to disassociate oneself from either a trade union or an employer organisation.

Compulsory membership does not add to anyone’s rights.

The organisations insisted that compulsory membership diminishes the individual’s freedom by removing the right not to form part of any organisation. They commented there should not be any barrier to keeping anyone from exercising the right to associate but, ultimately, the decision rests with the individual as a free choice. It is

09. up to the organisations to keep themselves in tune with the needs of their target public to increase their membership.

The employer organisations were pleased to note that the Minister was appreciative of their valid and well-researched arguments.

09. High time to take the quality quantum leap in the building industry “It is high time for Malta’s construction industry to take a quantum leap in quality terms rather than focus on just numbers.

This is the only way that we can assure that the industry becomes smart, robust and credible in the country’s overall economy,” said David Xuereb at the Construction Industry & Property Market – National Conference 2019, organised by Property Malta in October.

The Chamber President was providing the Chamber’s views on the challenges of the building industry while participating in a panel discussion together with leading

players in the field.

Perit Xuereb said that the industry’s importance in the country’s economic landscape was undeniable as it contributed to the overall economic growth of the nation in an essential supporting role.

He called on politicians, regulators and practitioners alike to look at the bigger picture, and determine the policies that will define our environment, our road network, our built infrastructure and, ultimately, the quality of life and resilience of its community – our nation.

10. “The country’s current success cannot be taken for granted” “Malta’s economic success needs to be managed and safeguarded in order for sustainable growth to be ascertained in the future,” said David Xuereb as he presented the Chamber’s proposals for Budget 2020 to the Prime Minister.

Flanked by members of the Board of

10.

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Management, the Malta Chamber President said that the proposals were based on feedback received from members of the Chamber and focused on six main areas that were deemed of crucial importance for the country’s economy.

Perit Xuereb said that the exceptionally positive economic results the country had achieved in recent years could not be taken for granted, especially in the light of a slowdown in growth rates which was forecast for the future.

“Our proposals for the Budget 2020 are aimed at incentivising further economic growth, improving the quality of life of citizens and ascertaining the economic and environmental sustainability of the country,” Perit Xuereb said.

The Chamber’s proposals were previously presented to the Minister of Finance and to the Malta Council for Economic and Social Development (MCESD).

11. Opposition pre-Budget proposals provide stability “The publication of proposals for the Budget by the Opposition is symptomatic of a healthy democratic society where social dialogue is alive and well,” said David Xuereb during a meeting with the Leader of the Opposition in October.

The President was leading a Malta Chamber delegation to the Nationalist Party headquarters where he presented the employer organisation’s pre-Budget 2020 proposals to the Opposition.

Perit Xuereb noted that there were several similarities between the documents compiled by the Malta Chamber and that of the Opposition. He said that this augured well because it gave the business community and investors a clear idea of what the economic plans of an alternative government were.

On the other hand, the Malta Chamber President said that the Chamber could not agree with proposals made by the Opposition on a number of issues, namely that all employees would be incentivised to join a union on a compulsory basis, obliging all employers to submit an electronic copy of all contracts of employment and the possibility for parents to take sick leave accumulated over the previous six years to care for their children or elderly parents.

Perit Xuereb was flanked by the Deputy President Marisa Xuereb, Director General Kevin J. Borg, Board of Management member Andrew Mamo, Council member Reginald Fava, and Head of Policy Andrè Fenech.

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12. MBB and Malta CSR Institute host food waste reduction training The Malta Business Bureau (MBB) and the Malta CSR Institute, which is backed by the HSBC Malta Foundation, hosted the first in a series of half-day food waste reduction training and awareness sessions designed specifically for enterprises and their employees. A further six sessions are planned to take place in the coming months.

The participants of this first session were initially introduced to the food waste challenge from a broad perspective. Opening the session, MBB Project Manager Gabriel Cassar discussed how food waste is a complex issue which impacts upon different areas, including our environment, the economy and the social sphere.

Representatives from the Ministry for the Environment, Gardenscapes Gardening Services, Wasteserv, the Malta Tourism Authority, AquaBioTech Group and Nature Trust Malta led activities on practical tips and techniques on how to reduce food waste.

The topics covered included sustainable food habits, sustainable seafood consumption, proper separation of organic waste, and growing food from food scraps.

This event was part of the Business Against Food Waste campaign led by the Malta Business Bureau, in collaboration with the Institute of Tourism Studies and the HSBC Malta CSR Institute. The campaign is

supported by Wasteserv Malta, the Malta Tourism Authority and the Ministry for Tourism.

13. “Education is a shared responsibility” "Education is a shared responsibility."

These were the introductory words of Marisa Xuereb, Deputy President of the Malta Chamber, who was speaking at a conference organised by the Ministry for Education and Employment (MEDE) on 14th October as part of the European Vocational Skills week activities in Malta. The theme of the conference was the 'Challenges of skills shortages and the role of industry in VET'.

Ms Xuereb was a keynote speaker and addressed the need to invest in today's generation to meet the future Vocational Education and Training (VET) needs. She gave a detailed explanation of what the Chamber and businesses are doing in bridging the gap between industry and academia, and elaborated on the need to solve our chronic problem in sourcing skilled employees.

Ms Xuereb listed the key challenges in achieving better results, such as the country's high rate of early school leavers and youths who are not in employment, education or training (NEETs), mainstreaming VET in all secondary schools, not just state ones, and investing further in MCAST's capacity.

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Ms Xuereb spoke of the need for industry and education to gear up for the future and explained that the skills of the future will mainly focus on soft skills, such as thinking skills like problem solving, people skills, like leadership and communication, and selfenrichment ones, like entrepreneurship.

She spoke of the need for industry to be more involved in education and explained that the Chamber is doing its part by collaborating closely with MCAST and the Education Department through a series of projects. This includes the media campaign Make it, which was aimed at promoting careers in Malta's manufacturing sector among secondary and post-secondary students and their parents, as well as offering work-based learning opportunities to Form 3 and Form 4 students among the business community.

During this workshop, Shallenberger addressed the participants on his role as a businessman and motivator, while sharing his best tips on how to apply business strategies in the most effective and successful way possible.

Other activities provided participants with the opportunity to learn and gain experience in transformational leadership, as well as help them develop a clear plan and a focused pathway forward with an adequate solution to a real-world challenge.

14. Shallenberger delivers the goods Leading American author and life coach Steve Shallenberger led an inspirational and successful workshop to a packed hall at the Malta Chamber in October. ‘Becoming your best – a day with Steve Shallenberger’, provided attendees from Malta’s leading firms with a one-time opportunity to enrich their business management skills and grow on a personal level.

Shallenberger, a world-leading author and business coach specialising in leadership skills, was the guest of the Malta Chamber for the day. His day-long workshop is based on his best-selling book ‘Becoming your best – the 12 principles of highly successful leaders’, which inspired countless people through its motivational nature. He is considered one of the top leadership trainers in the world, thanks to an approach that makes you listen up and take note immediately.

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NEWS Internationalisation

01. Supporting and training businesses on EU direct funds As part of its Funding Innovation platform, the Malta Business Bureau (MBB) held an information session regarding its upcoming training programme on EU funds, focusing on the Competitiveness of Enterprises and SMEs programme (COSME).

During the session, which was held at the Malta Chamber on 5th September, the MBB gave an overview on EU funding streams and encouraged businesses in attendance to contact the organisation should they need guidance on such matters. MBB CEO Joe Tanti stated that the ultimate objective behind the workings of the Bureau is to support businesses in their development.

Mr Tanti said that MBB has always been very active on tapping EU funds for the benefit of Maltese businesses. “EU direct funds, such as COSME, are a golden opportunity for local businesses to partner up with other local and foreign companies that share the same vision,” he said. Mr Tanti encouraged businesses to make use of the various EU funding streams available in Brussels. “EU funds are key to contribute towards growth, job creation, research and innovation; benefitting companies and the Maltese economy in general,” he added.

Marija Elena Borg, Senior EU Funding Executive at MBB, presented an overview of the process behind the COSME programme, once again highlighting the element of innovation. The details regarding the timeframe of the first training programme, which will be held by MBB with the support of the Malta Chamber and the Malta Hotels and Restaurants Association, were also presented by Ms Borg.

Towards the end of the session, the Senior Manager at the Ministry for the Economy, Investment and Small Businesses, Marita Portelli, presented an outline of Enterprise Incentive, a mobile application that was recently developed by the Ministry. Through this app, the user can find a streamlined overview of funding schemes and other opportunities (such as awards) available for businesses in one place.

Funding Innovation is led by the Malta Business Bureau in collaboration with the Brussels-based Out of the Box International and the European Projects Association.

This initiative is being supported by the Malta Chamber of Commerce, Enterprise and Industry and the Malta Hotels and Restaurants Association.

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02. Malta Chamber welcomes Chinese delegation from CIIE A Chinese delegation visited the Malta Chamber in October ahead of the China International Import Expo, which will take place in November.

Yu Yuantang, Deputy Director General of the Department of European Affairs at the Ministry of Commerce in China, leading the Chinese delegation, was welcomed by Chamber President David Xuereb and Ian Mizzi, President of the Maltese-Chinese Chamber of Commerce, together with Chamber top officials.

The meeting discussed how the Chamber intends to follow up on the experiences gained from the upcoming participation at the CIIE, translating it into practical assistance, to its members.

President Xuereb explained that the Malta Chamber is undergoing a process of profiling the internationalisation needs of its members to tap into specific opportunities of interest to them.

Through its Internationalisation Desk, the Chamber has regularly hosted events that shine a light on the possibilities and opportunities that exist for trade between the two countries.

This includes participation in the CIIE, which has all the motivations and intentions to develop into tangible benefits for businesses.

The Chamber has engaged in agreements with China, establishing a mechanism to support and promote investment opportunities between the two nations.

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Bluefort: Ready to embrace the future At Bluefort – a Microsoft Gold Partner – foundations are never just laid and forgotten. In fact, Chief Technology Officer Mirko Bonello and the team have crafted their whole ethos around relentlessly identifying and adapting to emerging technologies to help their clients increase efficiency, reduce costs and accelerate growth, as he tells Jo Caruana.

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ntelligent financials’ is one of the buzz-phrases of the moment and one of Mirko Bonello’s favourite terms too. After all, as Chief Technology Officer at Bluefort Ltd, encompassing intelligence and finance is what he and the team do best.

“Every company needs a sound financial backbone in order to operate and to ensure that shareholders and investors get a favourable return on their investment and keep the company alive,” Mr Bonello explains.

“However, in today’s highly competitive environment, I strongly believe that financial management has to have an intimate relationship with digital platforms that are a technology enabler for intelligence.”

Simply put, financial intelligence is the result of finance and accounting not being treated as a separate silo from the rest of the business operations (such as logistics and HR) but when all departments are integrated on one digital platform. This is then intelligently integrated to create feedback loops that add tremendous value and capability to an organisation’s efficiency, financial reporting, business intelligence, intelligent forecasting and competitive edge.

It is this sort of approach that Mr Bonello – as well as many thought leaders in this sphere – believe to be a game changer for

our age. “Just as the steam engine was a game changer in the late 19th century and triggered an industrial revolution, so integrated cloud applications and AI are causing a revolution today,” he continues.

“Integrated cloud platforms, applications and artificial intelligence can be the catalyst for business models, jobs and growth that previously couldn’t even be imagined – and certainly not on the massive scales they can be imagined today.”

Bluefort then, was set up with the distinct mission of helping organisations jump on this high-speed innovation train by leveraging the Microsoft Dynamics, Power Platform and Azure cloud solutions. “We fuelled growth by participating in international projects, in collaborations with other partners and with product innovators across the world and, eventually, we were experienced and mature enough to start handling end-to-end projects directly and building our own Intellectual Property (IP),” the CTO explains.

Now the company revolves around providing best-in-class digital transformation services to its customers. Those services encompass business process modelling, business process reengineering, the deployment of Microsoft Enterprise applications, functional consultancy,

“The best results come to those who understand and appreciate the value we offer and who make their IT strategy a core approach. Today, IT isn’t just a cost or a budget to be consumed.”

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technical consultancy, development services and project audits. Besides, Bluefort also invests in and markets its own intellectual property products.

Asked to explain how his role plays into the wider company structure and vision, Mr Bonello points out that his focus is to ensure customers get the best services and the most innovative products in terms of intelligent applications, technology and innovation. “My main goals are to evangelise about the latest and greatest technological innovations that our existing customers can leverage and inspire many more companies to embark on the financial intelligence journey with us. I believe this goal resonates with both the EU and the Maltese Government when it comes to digitising our economies in the private and the public sectors as well as with Microsoft’s mission to enable every organisation and every person on the planet to achieve more.”

To achieve this, Mr Bonello says the company looks for clients with values aligned with Bluefort’s and which will see them as partners rather than a simple IT supplier. “The best results come to those who understand and appreciate the value we OCTOBER/NOVEMBER 2019

offer and who make their IT strategy a core approach. Today, IT isn’t just a cost or a budget to be consumed,” he stresses.

Sharing examples of companies that have embraced this pioneering approach, Mr Bonello highlights Vivendo, where innovation is critical to them becoming the best in the business. “They do this by empowering their team with strong processes and a platform that has the digital capability to keep pushing forward,” he says. “Creating highly automated processes and a great customer experience consistently propels Vivendo forward.”

“Then there’s the Bonnici Group, which operates retail stores for the Jysk brand in Malta and Cyprus with a single, centralised and consistent approach to business process execution. For them, it’s all about having a clear focus on innovation and improvement.”

“On top of this, we were also involved in the global ERP and e-Commerce rollout of TeamViewer. After our successful implementation of that system, their company valuation drastically improved and, a few weeks ago, TeamViewer

launched a €2.2 billion IPO on the Frankfurt Stock Exchange. All of this underlines why we do what we do and our excitement about how it will continue to positively impact businesses – and our clients – in the future.”

And that future will doubtlessly include elements like the new Microsoft release for the 2019 Wave 2 for business applications, which include a plethora of new features and innovations. “For the rest of this year, we aim to continue learning – not only when it comes to the new technology in the sphere but how we can apply the new features smartly for our customers to achieve first-class financial intelligence.”

“As for next year, we hope to affirm our international presence by opening offices in northern Europe to complement the strong team at our headquarters here in Malta.

Whatever we do, whatever we achieve, we always aim to be ‘customer first’ and not ‘technology first’. This is an assurance I want to give to our existing and prospective customers… even if my title does say that I am Bluefort’s chief technologist. This is how we envisioned being positioned by end of 2020 and beyond.” cc 85

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Acumum: Leading the pack Acumum is an award-winning boutique set of legal, tax and fiduciary firms located in Malta and led by UK barrister Geraldine Noel. Here she talks Jo Caruana through the reasons why she chose to set up the company on the island and highlights why they provide a truly unique service proposition.

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eraldine Noel never wanted to settle for ‘ordinary’. Across her 30-year career, she has been driven to achieve the extraordinary and she has stopped at nothing to achieve that when setting up her firm here in Malta, too.

To understand Ms Noel’s unique approach, you have to start at the very beginning. Having completed her studies at the prestigious universities of Oxford and Fordham, she worked in multiple jurisdictions as legal advisor to various multinational corporations. She made an impression: so much so, that the US Patent and Trademark Office named her as the first-ever recipient of a grant of a trademark for virtual goods and services.

An exciting career followed and, more

recently, having relocated to Malta in 2010, Ms Noel found herself wanting to join an internationally-focused firm that would utilise the skills she had obtained in the countries she worked in before – namely the USA, the UK, Cayman and Switzerland. By then, though, she realised that the best way to achieve that goal was to bring a slightly new offering to the market by setting up a firm herself.

Thus, Acumum was founded to be an internationally-focused set of legal, tax, corporate and fiduciary firms in Malta, with the vision of being a provider of excellence and also of relevant and business-focused services to its clients. “It was my ambition from the outset to be the best-in-class and to lead the pack from both a knowledge and a client service perspective.”

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This only served to elevate her career even further and, among other accolades, Ms Noel was honoured with a CityWealth Powerwomen Award for four consecutive years as well as the title of Malta’s Best Business Leader of the Year Award at the 2019 edition of Malta’s Best Entrepreneur of the Year Awards.

“Since its inception, Acumum has developed into a full service legal and advisory group of firms that bring together a team of knowledgeable, business-minded professionals including lawyers, accountants and tax advisors dedicated to providing expert, trusted and cost-efficient, bespoke services,” Ms Noel continues. “We take absolute pride in the standard of excellence we uphold in assisting and providing services to our clients, for which we have received recognition on both the local and international awards circuits. Today, our practice areas span commercial law, corporate law, financial services, trusts, intellectual property, gaming, taxation, citizenship and residency, and private client services.”

Ms Noel goes on to explain that Acumum’s offering is particularly unique and innovative in Malta because of its associated Barristers’ Chambers. After all, the practical effect of Ms Noel being an English barrister registered in Malta gives the company the ability to practise in both jurisdictions and represent clients before the courts in England and in most Commonwealth jurisdictions.

“Additionally, our international focus and cross-border capabilities mean that we can advise on a number of different jurisdictional laws,” she says. “As such, we mostly assist international individuals or corporates that appreciate our expertise in cross-border transactions. Indeed, although Acumum is a Maltese solution-focused group, the firm punches above its weight insofar as its ability to provide holistic services and solutions to businesses located in Malta and internationally.”

With this in mind, it seems that the Acumum market is buoyant and the firm’s outlook is very positive – although that doesn’t stop Ms Noel from being mindful about developments that may occur and particularly those emanating from supranational entities such as the Organisation for Economic Cooperation and Development, and the EU. OCTOBER/NOVEMBER 2019

“It was my ambition from the outset to be the best-in-class and to lead the pack from both a knowledge and a client service perspective.”

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“Although Acumum is a Maltese solution-focused group, the firm punches above its weight insofar as its ability to provide holistic services and solutions to businesses located in Malta and internationally.”

Dr John Navarro – Associate Advocate

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“Developments in the tax, legal, regulatory and compliance landscapes will naturally create challenges that service providers must apply themselves to innovatively in order to provide sustainable and holistic solutions,” she says. “And we are doing exactly that for our clients.”

Explaining who those clients might be, the barrister says that, typically, users of the firm are either individuals or corporate entities and could include family offices, corporations and other service providers.

Each is only taken on by Acumum after a due diligence process is undertaken. “As we believe in long-term relationships, we strive to be attuned to our clients and ensure that we understand their requirements and objectives,” she continues. “We have found that this approach enables us to provide prompt, efficient and knowledgeable legal, tax, fiduciary and corporate services.”

“On top of that, we are firm proponents of the human aspect of business and the muchneeded personal touch. As such, our clients deal with the same professional consistently so we can provide the best client support and build a successful working relationship.”

Now, as this year draws to a close, the firm’s current focus is dedicated to consolidating its client base and maintaining a consistent standard of care and professionalism in the services it offers.

“With a view towards 2020, we aim to further build upon what we have achieved together thus far and look forward to meeting any challenges that the coming year may bring,” Ms Noel concludes. cc OCTOBER/NOVEMBER 2019

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A lasting approach to giving back to the community With the environment and youth well-being at the forefront of Prohealth’s Corporate Social Responsibility strategy, Helena Grech sits down with the company’s CSR committee members to understand why they have chosen these two pillars, and what it means in practice.

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he number of companies recognising the importance of Corporate Social Responsibility (CSR) initiatives is on the rise, and with so many causes to choose from, deciding which area to devote attention to can be a challenging task.

For Prohealth Ltd, a company specialising in the importation and export of healthrelated products including pharmaceuticals, skin care and medical devices, the drafting of its CSR strategy formed an integral part of its overall strategy, and was discussed extensively and clearly thought out by its management and dedicated CSR committee.

John Jaccarini, Executive Director and one of three founding members of the company, who also sits on the CSR committee, explains that the company chose to focus its initiatives in line with its efforts to improve the health and well-being of its customers.

He sits on the committee together with Ritianne Cutajar, Point of Sale Representative, who unfortunately was not present for this interview; Mauro Abdilla, Business Development Manager; and Dale Pace, Marketing Manager.

John says that Prohealth Ltd, set up in 1995, will soon be celebrating its 25th anniversary. Asked to highlight the company’s greatest milestones to date, he shares that its progression from a small outfit to a company employing 50 people, housed within its fully owned premises, and cementing its presence within the healthcare industry, has been one of its greatest achievements.

Prohealth has been successful in executing several key objectives, such as improved corporate governance, enhanced HR talent, better utilisation of information systems to gain market intelligence and increased efficiency. Together with these objectives, the company sought to strengthen its CSR credentials with a view to leave a lasting impact.

Apart from initiatives undertaken internally, Prohealth will focus on the welfare of our young generation and the environment which

is our common heritage. Mauro explains that “future generations are at the forefront of our commitment when it comes to addressing environmental aspects. It’s a no-brainer. In the youth wellness sphere, we feel that this ties in well with our brand and our focus as a company.”

Prohealth’s best-known initiative to date has been the installation of a solar-powered Seabin, the first of its kind in Europe, in the popular Spinola Bay tourist destination. The company teamed up with Strand Marine, a local marine supply store, the St Julian’s Local Council and environmental NGO, Zibel.

The Seabin is designed to collect three main pollutants: microplastics, loose debris and oil, through a sponge within the device’s basin.

Mauro says that “having the Seabin powered by solar energy increases its benefits as it leaves no carbon footprint, and it’s an add-on to our energy conservation aspirations. So many people have been talking about the Seabin and we have encouraged other businesses to follow our lead.”

Dale reveals that it is the first Seabin in Malta that is not within a berthing site, as it is in a bay rather than a marina. “This part was tricky because getting permits for the device was not so straightforward. Another complication was the solar-powered aspect as it had never been done before in Europe,” he shares.

John stresses that Prohealth wanted to, and still wants to, play a part in helping to clean “the mess we created ourselves in the first place. Our intention is also to try and motivate other organisations, and with more Seabins ordered, we feel we have reached this objective.”

Delving into the nitty-gritty of getting the job done, Mauro shares that it involved meeting with Local Council representatives, NGOs, Ministry officials, as well as Transport Malta representatives.

True to its name, another focus of Prohealth’s CSR drive is wellness and wellbeing in both their physical and psychological natures, with particular focus on children

“Our intention is also to try and motivate other organisations, and with more Seabins ordered, we feel we have reached this objective.” – John Jaccarini, Executive Director 92

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Photo by Alan Carville

Photo by Alan Carville

“Having the Seabin powered by solar energy increases its benefits as it leaves no carbon footprint, and it’s an add-on to our energy conservation aspirations.” – Mauro Abdilla, Business Development Manager

and youth. Since the CSR committee was established, over the past year Prohealth has partnered with a number of NGOs in this field.

Notwithstanding what life has presented to these individuals, Prohealth strives to help entities which offer diverse support to these people in order that their opportunities in life are at par with the rest of society.

Whether it is children suffering from bereavement, children with life-threatening conditions, young mothers suffering from psychological issues, youth with mental health problems, etc, Prohealth truly believes that everyone should be offered the necessary help to move on in life.

“When it comes to philanthropy, we deeply believe in ‘being’ rather than just ‘doing,” adding that it is easy to write a cheque for a good cause but truly championing that cause is what really matters.

And what does the CSR committee have in store? The team shares that a longer-term partnership approach has been taken, with the view of providing meaningful change through the endeavours which the committee enters. cc OCTOBER/NOVEMBER 2019

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Supporting smart, sustainable growth through R&D Innovation through research and development is one of the key policy components of Europe’s 2020 strategy, which aims to increase public and private investment in R&D to 3 per cent of the bloc’s GDP by next year. But, with Malta lagging behind, how are today’s local business leaders stepping up efforts? Rebecca Anastasi interviews four stakeholders to find out.

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ew economic challenges require solutions which break new ground, built on the solid foundations of innovation arising from a systemised approach to research and development.

Indeed, to combat societal challenges, such as climate change, the rise of new technologies and labour productivity, the European Union has ambitious plans to advance the take-up rate of R&D within the bloc, with its 2020 strategy specifying a target public and private investment of 3 per cent of the EU’s GDP. However, recent research conducted by Eurostat, and published last August, noted that spend on R&D across member states – termed R&D intensity – has stagnated at approximately 2.06 per cent of the GDP between 2014 and 2017, with next year’s goal looking increasingly elusive. This, the report states, shows the extent to which the bloc “is lagging behind other advanced economies, such as the United States, Japan and South Korea.”

In Malta, figures from the National Statistics Office (NSO) paint an even bleaker picture: in 2017 (the latest year for which numbers are available), total expenditure on the activity stood at just 0.58 per cent of the island’s GDP. The highest rate of activity was recorded in the business sector – which contributed 65.3 per cent of total expenditure – and, more specifically, in the realm of engineering and technology (which accounted for 45.7 per cent of spend), with 2,479 employees engaged in R&D work, though more than half of these only dedicate half their working hours to the activity.

With these factors in mind, the Maltese authorities have committed to attaining a 2 per cent in GDP expenditure by 2020.

However, the recent pre-Budget document issued by the Malta Chamber of Commerce, Enterprise and Industry has stressed that the island’s R&D budget should be increased drastically in order to have a fighting chance of stepping in line with the EU’s recent targets.

Moreover, despite the figures, individual local firms are, increasingly, recognising the importance of R&D as a cornerstone of modern economic development and are broadening the scope of their activity. “Any R&D leading to better implementation of industry 4.0 will be the future,” says James

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“R&D is a necessity and few can afford to become purely commodity businesses, including ourselves.” – James Attard Kingswell, Innovation Manager, Toly Group

Attard Kingswell, Innovation Manager at Toly Group, producers of packaging for the international beauty industry. “Indeed, this activity will increase rather than decrease as the local and global economy continues to grow and the world becomes increasingly more digital.”

As a result, organisations need to invest if they want to keep up with the rate of change, he says. “R&D is a necessity and few can afford to become purely commodity businesses, including ourselves. We want to add value through R&D in our products and processes.”

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Indeed, over the past five years, changing consumer requirements has shortened product lifecycles and shifted priorities, sharpening the need for innovation, Mr Attard Kingswell says. “There is a need for new product formulations to suit changing trends fuelled by social media influences.

Thus, new delivery and application systems are required, together with further modernisation to build more sustainable industries.”

Toly Group has been witness to these changes, the Innovation Manager explains, and has adapted by investing in research and development locally. “A high emphasis on R&D makes Toly unique within our industry.

It is widely recognised among our clients as the go-to supplier for new solutions and technology, owing to our years of investment in R&D across our entire value stream. In fact, Toly’s aim is to move away from our image of a packaging supplier and, instead, become a global product development platform, and this means tackling every aspect of the product beyond the packaging, including the formulation, the usage, the instore experience, the marketing and beyond,” he asserts.

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This approach, he underlines, is based on “long-term thinking” and allows the firm to compete with larger stakeholders by providing cutting-edge solutions. To do this, the firm’s factories – such as their new one in Malta – imbues the changing philosophies of the company. To illustrate his point, the Innovation Manager refers to the issue of plastic waste and underlines the way that Toly is investing in the “R&D of new materials, designs and processes that will reduce waste, energy usage and form part of a circular economy.”

Looking ahead, Mr Attard Kingswell highlights that, although the nature of R&D will, undoubtedly, change due to evolving technologies, enterprises can acclimatise, if they keep their eye on the ball. “The pace of change is only increasing and any organisation is prone to being disrupted. The nature of R&D itself will also likely change, to be faster, more cost-effective and more open with far more cross-collaboration, owing to the rise of the internet,” he underlines.

Francois Grech, Executive Director at software-solutions firm Exigy, concurs and stresses that, with such technological change, investment in R&D is imperative. “We

“If one is a true believer that investment in R&D will yield future competitive advantages for the country, and a greater impact in terms of growth of our future GDP, then this is an easy decision to make.” – Francois Grech, Executive Director, Exigy

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must keep abreast of innovation and, in so doing, we are able to provide cutting-edge technology solutions to our customers.

Indeed, for our organisation, engaging in R&D is a key priority element to enhance our competitive advantage,” he explains.

He sees the necessity of investing in R&D as having increased over the past few years, in line with the “exponential technological growth” being experienced across the board. “In the technology space, applied R&D is very fascinating. It gives you the ability to adopt existing technological principles to industry-specific problems to be able to define ways on how it can solve business challenges. In general, this leads to a higher-quality solution being delivered,” he notes.

But, how does Exigy engage in R&D to fulfil these ambitious aims?

“During our yearly business planning process, we define specific key areas that we need to focus on and we commit a separate R&D budget for product development.”

Part of these efforts have also involved “embracing Microsoft technology” and developing the firm’s technology portfolio to include “AI within our business solutions,” the Executive Director explains.

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Indeed, Mr Grech underlines that this drive towards further investment in R&D should be a priority for the country as a whole. “With the current stimulus in the market, the rate of R&D expenditure is below the targets set for 2020 and, at this point, the target might not be achievable, considering that we are only one year away.” To boost the possibility of meeting the goal, he points to the need for “more concrete initiatives to simulate entrepreneurs’ appetites for R&D,” as well as collaboration with academic institutions. “If one is a true believer that investment in R&D will yield future competitive advantages for the country, and a greater impact in terms of growth of our future GDP, then this is an easy decision to make,” he stresses.

International telecommunications provider, Vodafone Group, is another business which invests heavily in R&D, placing it at the heart of their development and operations.

“For Vodafone, R&D is one of the keys to innovation and its ability to differentiate itself from the competition,” Sonia Hernandez, Vodafone Malta CEO, says. She points to the Group’s dedicated Research and Development team as proof, stating that the staff there are responsible “for all the aspects of network and information technology research.”

“Medium-to-long term, R&D can open up whole new areas of business.” – Sonia Hernandez, CEO, Vodafone Malta

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“[R&D] allows us to stay one step ahead of market trends but, more importantly, makes the life of our clients easier and helps them run their businesses more effectively.” – Nathan Farrugia, CEO, Shireburn Software The advantages of this are numerous, she stresses. “Medium-to-long term R&D can open up whole new areas of business in a way that shorter-term development of individual new products and services rarely do,” she states. Moreover, it allows the firm to deliver “the best customer experience and enables new business opportunities in Vodafone markets around the world.”

Indeed, to ensure cutting-edge developments, the R&D personnel at Vodafone participate in “industry forums and trials of emerging and disruptive technologies,” while also investing time and energy in “the evolution of telecoms security, long term spectrum matters and ecosystem development associated to new technologies.” Ms Hernandez also points to the standardised development of narrow band IoT (NB-IoT) – which adapts the cellular network to support low power – and wide area IoT devices as examples of unique offerings which have enabled the firm to develop new sources of revenue not only for itself but for the sector as a whole.

“Vodafone was a pioneer in the development of NB-IoT but any mobile operator can use it,” she underlines, going on to say that, in Malta, too, the firm’s focus on R&D, conducted through the Vodafone Malta Foundation, has pushed the envelope, even in arenas far removed from the 100

telecommunications sector.

By way of example, she refers to the entity’s work on a blockchain solution for dynamic consent in biobanking as well as the “development of technology to provide an alternative to drugs in order to relieve pain in children going through various illnesses, such as cancer. Thus, through its investment in R&D, Vodafone is able to position itself as a leader in the “development of future technologies,” Ms Hernandez stresses, thus ensuring that the firm “retains and develops a team of experts on topics that are most important to its future business.”

The centrality of R&D in a modern, sustainable economy is also reiterated by Nathan Farrugia, CEO of Shireburn Software, who underlines that investment in the activity is essential “to remain relevant.

Innovation isn’t a luxury but a survival tool nowadays and R&D allows us to map out the fastest and most reliable way to change the way we work, develop products or enter new markets. It allows us to focus and be more efficient while minimising risks in unknown futures,” he underlines.

At Shireburn, he emphasises, innovation is a mindset. “Our approach to developing software is one of continuous improvement.

We therefore prioritise R&D in all stages of product development, whether it’s introducing new products to the market

or innovating and improving our existing solutions. It allows us to stay one step ahead of market trends but, more importantly, makes the life of our clients easier and helps them run their businesses more effectively,” he explains.

In this respect, the CEO stresses the need for adequate human resources to fulfil such necessities. “With Malta becoming more technologically savvy, and businesses needing the talent to drive digital business and transformation, recruiting the best people has become a challenge, especially when it comes to specialised roles,” he points out, going on to say that Shireburn aims “to be an employer of choice by investing heavily in the training and development of our people.”

Looking ahead, he calls for more local investment in the activity, across the board, to ensure growth remains a mainstay of Malta’s economy. “As long as the investment in R&D is pragmatic and leads to a beneficial outcome that can be applied in business, society or for the common good, then we should welcome access to R&D funds as well as invest more of our own to support the national economy. At Shireburn, 'continuous improvement' is one of our mantras and, therefore, we will continue to invest in innovation. As a country, it should be no different,” Mr Farrugia concludes. cc OCTOBER/NOVEMBER 2019

STYLE

Office Trends

REVIEW

04. Bright interiors

Jillian Mallia explores the innovative office design creations that are currently trending.

01. Activity-based working This kind of workspace gives employees the choice to choose how, when and where they put in their hours. This involves tailor-making certain areas for specific tasks, such as concentration spaces for individual work, collaboration spaces for discussions and easy-going workstations.

02. Physical and psychological well-being Much importance has been given to the well-being of the employee, be it physical or psychological. Many offices are embracing this ideology and creating office spaces with designs that benefit the well-being of employees, making them happier and healthier.

Bright colours for an office’s interior design are hot right now and are quickly becoming a go-to. Bright hues create a vibrant atmosphere, also improving employees’ moods.

Not only do such colours lighten the workspace atmosphere, they also give it a modern facelift.

05. Time out spots Whatever the job, work can get a little stressful for employees, so having an area in which they can take a breather can help with reducing stress levels. Time out spots within the office space will cater for the busy person who needs a minute.

06. Pods

03. Dynamic workspaces Removing restrictions and ergonomic disruptions in the workplace can enhance productivity and encourage collaborative work among employees. By having adaptable furniture, different workspaces for various purposes can be created in the same space. The furniture should be comfortable and organic, giving employees the opportunity to create their own workspace.

01.

With today’s offices mostly designed in open plan layouts, it may be hard to find a quiet spot to work on those fast-approaching deadlines, but this new trend solves that. Pods are the perfect office space for some privacy and concentration time, and also give a great balance between a community feel to the office and the individual employee’s privacy while at the workplace. cc

robinpowered

02.

pinterest

startupstories.in

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thespaces.com

05.

03.

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officelovin.com

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Celebrating excellence: The 2019 Emanuele Luigi Galizia Award winners Sarah Micallef meets this year’s top architecture award winners, learning about their winning projects and what the awards mean to them.

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ast year, the Chamber of Architects and Civil Engineers, also known as Kamra tal-Periti, held the first edition of the Premju Emanuele Luigi Galizia for architecture and civil engineering, aimed at supporting, encouraging and promoting excellence and quality design in Malta’s built environment.

Held for the second time this year, on the 100th anniversary of the promulgation of the Architects’ Ordinance in July 1919, the awards, which are reviewed by a panel of

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experts, also offer architecture, engineering, interior design and product design practices a stellar opportunity to promote and showcase their work.

Against a local scenario in which the recent construction boom has led the industry to be perceived in a negative light, the awards provide a welcome platform for stakeholders to appreciate the importance of quality architecture and construction as forming part of sustainable communities which prioritise the relationship between quality of life and

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the quality of the environment.

The awards celebrate recently completed projects which employ such sustainable architectural practices, along with elevated levels of quality in design and fabrication.

Here, the teams behind the winning projects receiving the Interior Spaces Award, the Urban Regeneration Award, the Housing Project Award, the Quality Architecture Award, the International Project Award and the President’s Award for Best Overall Project reveal what the awards mean to them.

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Interior Spaces Award MMK Studio – Qormi industrial minimalist home “Our project was an example of what can be achieved when the architecture and the interior are designed concurrently,” says MMK Studio’s Melissa Giordimaina, of the Qormi project.

Well hidden within the locality’s urban conservation area, with a humble entrance along a dead-end alley, Melissa maintains that “the site was a difficult one and the space was limited but we managed to optimise it by careful pre-planning.”

With the property having been neglected for a number of years, she explains that the clients needed not only vision but also faith in the architects to pull it off. “We were lucky in having our clients’ total trust and very

few details were changed by the end of the project. They are very well-versed in design, so it was much easier for us to get our vision across. It was the result of excellent teamwork.”

The original structure, which was more than 100 years old, was very well-preserved, despite several ad hoc additions which had been made over the years and an overgrown garden making it difficult to see its potential.

MMK’s proposal included the preservation of the old structures and the construction of an extension in reinforced concrete, which was left exposed to create a contrast with the original fabric of stone slabs and wooden beams.

Photos by MMK Studio

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“Our project was an example of what can be achieved when the architecture and the interior are designed concurrently.” – Melissa Giordimaina, MMK Studio According to the architects, one of the most interesting features of the house is the terrace, which cantilevers over the pool in a light steel and wooden structure, making it possible to draw the pool closer to the house while saving valuable space in the garden.

The indoor-outdoor flow of the space was maximised using a three-leaf aluminium door overlooking the pool, which slides behind the kitchen wall, opening the area up into the indoor space. Meanwhile, a stone staircase leads to an authentic room on the upper floor, which MMK Studio extended to create a large main bedroom with walk-in wardrobe and free-standing bath.

The primary materials used were steel, timber, concrete and natural stone, as well as two large expanses of glass that allowed for the use of dark tones within the interior space. The project took two years to complete from conception.

Asked how the team behind the impressive space felt about winning the Interior Spaces Award with this project, Melissa maintains: “we were very surprised, especially due to the other entries we were up against, all from firms we hold in high regard. It was a special moment since we are quite a young firm with very few completed projects. Carrying out such projects takes time and perseverance.

Such events as the Premju Galizia are very encouraging for the profession.”

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Urban Regeneration Award Periti at GHRC and MTIP – Triton Fountain The embellishment and upgrading of Triton Square, and the restoration of the Triton Fountain made the local headlines time and again, and the project endeavoured to meet several objectives for the square marking the entrance to the historic capital.

These included converting the square into a central meeting point for activities and events; restoring the Triton Fountain; reviving the historical backdrop of the square, in particular the bastions and ditch; rendering it as a pedestrian area; and facilitating the operational requirements in and around the square for buses, taxis, cabs and other service providers.

Drawing from the existing axis and historical structures for inspiration, the new layout links Biskuttin Garden, Christ the King Monument, the Triton Fountain and City Gate entrance. “The new square is a big departure from the former bus terminus.

The design team set out to create a space where the underlying history and sense of space are highlighted. Through coordination with several stakeholders, the square could be reorganised to maximise pedestrian space. The public reacted positively to the change, choosing to relax and socialise there.

Numerous social events have also been hosted at Triton Square due to its open space

“The design team set out to create a space where the underlying history and sense of space are highlighted.” – Eric Gerardi, Grand Harbour Regeneration Corporation

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and ease of access,” says Grand Harbour Regeneration Corporation’s (GHRC) Eric Gerardi, design architect of the Triton Square project.

Holm oak trees are considered to have been a vital element within the design of the square, where hardstone stairs, which envelop Triton Fountain, are framed by the adjacent tree lines. Meanwhile, 20 underground reservoirs harvest rainwater for irrigation purposes. The paving makes use of local hardstone, the design of which reflects the underground forms of the former St Magdalene’s Ravelin and outworks.

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The restoration of the fountain itself followed detailed research on how it appeared in its early years before being conserved through a faithful restoration of the visible elements of this monument.

This included the consolidation of the triton figures, the repair of the warped basin and the installation of a structural reinforcement within the tritons to withstand the weight of the upper basin. The sculpture was also given its original patina hue while the restoration of the travertine included cleaning by specialised techniques, plastic repair and consolidation of loose parts.

This was complemented by the reproduction of the original display of three water jets as well as the installation of a water treatment system, and the redesigning and modernisation of the architectural lighting of the fountain.

Following numerous positive comments from the public and stakeholders, Perit Gerardi comments on winning the Urban Regeneration Award. “It felt great to be recognised by fellow peers. The project was challenging and a lot of hard work went into achieving the level of quality and strength of concept we envisioned. GHRC has now been entrusted with other ambitious regeneration projects, which aim to improve more open spaces.”

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Housing Project Award Valentino Architects – Threeplusone

Photo by Alex Attard OCTOBER/NOVEMBER 2019

Photo by Julian Vassallo

Conceived as a place for comfortable, contemporary living, Threeplusone prioritises light, space and functionality while enhancing the streetscape stylistically. As it is situated on a historic thoroughfare through two of Malta’s most beloved villages, the team behind the building ensured that it works in harmony with its context – first, the brightness and climate of the Mediterranean, and, second, the characteristics of the building’s urban surroundings.

A Modernist corner house situated across the road became a point of reference for the team, influencing a design that echoes the mass, volume and proportion of its architectural companion.

Apart from its contemporary look, the facade was designed with thermal efficiency in mind, rendered entirely in a silicato finish that reflects the sun’s rays.

Meanwhile, the spacious terraces provide shaded outdoor space and allow light to cascade into the south-facing living areas at the front of the building.

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CC DESIGN TRENDS Speaking of the reasons they feel the project stood out in the Housing Project category, Peter and Sandro Valentino, of Valentino Architects, speculate that the judges agreed that the project was architecturally sensitive to its context, despite varying in scale to the surrounding buildings. “The judges also seemed to appreciate how the external architecture and the internal spaces work together and were not developed independently in terms of design and also in terms of passive environmental control systems such as projections for shading, adjustable external blinds, and so on,” they say.

Indeed, the building maximises usable space inside while achieving continuity between indoor and outdoor areas, with the living spaces being pulled in the direction of the terraces and bedrooms, and utility rooms fanning out toward a rear corner courtyard that draws in natural light and facilitates ventilation.

Prioritising rationality, simplicity of form and understated luxury, the project communicates a new design language driven by sensitivity, elegance and utility. “What seemed odd to us was that there were only two shortlisted

Photo by Alex Attard

“This event gives us hope for the development of the profession within the local context and also gives us confidence that our studio is moving in the right direction.” – Peter and Sandro Valentino, Valentino Architects

Photo by Alex Attard

entries in this category in a country which is on an apartment-block-building-rampage,” the architects say, indicating that “this says a lot about the built quality being produced.”

Indeed, with a project intended to humbly introduce an exemplary approach to the design of small-scale residential architecture within a Maltese context, the award is particularly meaningful. “We are very grateful to have received this award,

especially since it is bestowed upon us by our esteemed peers in the profession,” Peter and Sandro maintain, stating their belief in a collaborative approach to architecture within their studio and externally. “Architects need to get together more. This particular event is one which gives us hope for the development of the profession within the local context and also gives us confidence that our studio is moving in the right direction.”

Photo by Alex Attard

Photo by Julian Vassallo

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Photos by Peter Mercieca

Quality Architecture Award MJMDA – Limber Lattice “I think it helps when architecture is understood to ultimately be for the people and their well-being,” says Matthew J. Mercieca, Founder and CEO of MJMDA. “In conceptualising architecture and carrying it out from the beginning to the end, one is able to illustrate the concept-to-completion journey, making a project easier to communicate. In this sense, I think it may have been easier with our project to put the jury in the shoes of the user to assess the quality intent but also with a technically critical eye.”

Likening the workplace to a cloud in the OCTOBER/NOVEMBER 2019

project description – a space where one is required to enter into a state of focus and collaboration – the architects share their belief that the office building should guide the visitor and worker into its arms and inspire before being capable to instil focus and collaboration.

With this in mind, a space in which individuals come together and work as a team should inspire greatness.

The winning project stems from a client brief, integrating structure with architecture and interiors, as well as building services and environmental efficiency.

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“As long as we continue to strive to achieve quality as the ideal balance for each project, then we stand to have better longterm success for users.” – Matthew J. Mercieca, MJMDA Strung between two large planes to the left and right of the site, a grid was conceived to optimise each aspect of the building.

The grid is literally stretched between the two opposing walls forming a lattice, which serves to create spaces and volumes that inspire the greatness and confidence required.

At the heart of this latticework lies a functional sculpture that is reminiscent of the pharaoh hound, an important symbol for the owners in relation to the nature of the business. This metaphor was, in turn, further interpreted and developed through the use of agile forms and volumes that illuminate, seat, secure, receive, direct, transport and inspire at the core of the entrance void.

They are both present and powerful yet subtle at the same time.

Speaking of the Quality Architecture Award, the MJMDA CEO says that “it’s a great satisfaction and it means a lot to be successful when under professional review,” adding that it is important that their work should stand up to the criticism of qualified peers. “We care about what is not ‘eye candy’ and pay attention to detail. We want projects that feel and work better than they look, not the other way around. As long as we continue to strive to achieve quality as the ideal balance for each project, then we stand to have better long-term success for users.

This award is motivation and encouragement to do better and strive to continuously improve.”

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International Project Award & President’s Award for Best Overall Project Chris Briffa Architects – Reef Guest House, Bahrain

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Photos by Aldo Amoretti

“The Reef Guest House was a special four-year collaboration with Jalal Al Najjar, an old friend who is both architect and finishing contractor in Bahrain, who followed our designs to the finest of workmanship and detail,” says Chris Briffa, of Chris Briffa Architects. “It was a truly fulfilling experience working in such an environment with a multidisciplined team of people, an experience which culminated with photographer Aldo Amoretti shooting beautiful images of the building for three days and three nights in 45˚C!” The guest house, which is inspired by traditional Bahraini courtyard houses with wind towers oriented to catch prevailing winds, is designed to funnel the breeze into its courtyard and around its volumes.

It features a spartan composition of travertine, concrete, wood and glass, which are sewn seamlessly together in a story of bespoke details and balanced proportions, OCTOBER/NOVEMBER 2019

CC design trends

“It is extremely encouraging for Maltese architects – who, in recent times, have shared a tarnished reputation with the local construction industry – to see their colleagues producing architecture with a capital ‘A’ outside of our shores.” – Chris Briffa, Chris Briffa Architects

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transporting guests into a transcendental experience.

The brief called for a five-bedroom guest house and entertainment facilities which would take advantage of the site’s spectacular views while safeguarding the privacy of celebrity guests and diplomats at the same time. It also called for a spacious lounge, dining and pool areas, together with spa, gym and event facilities that would host individuals, groups and special events such as formal occasions and live concerts.

The project went through many design challenges, with both the structural limitations of building on a man-made island at sea level as well as the extreme local weather conditions becoming constant trials during the design process. The result is an exceptional feat.

Hospitality perks include a 33m-long solid travertine breakfast bar, which doubles up as a guest kitchen, extends to the outside for BBQ grills and descends into the pool to serve bathing patrons. Behind it, an equally long serrated wall of teak and glass offers shelving, storage, lighting and hidden services, craftily camouflaging the structuralspine of the cantilever counterweight, allowing natural light to filter through its floor to ceiling windows.

Beyond the sleek and dramatic exterior entrance of the Reef Guest House lies a calm haven that never fails to inspire the awe of its visitors. Its magic lies in its perfectly calibrated proportions, the interaction of its simple lines and shadow play, and the harmonious marriage of beauty and utility. The meticulous attention to detail is apparent in every corner and the sober selection of materials brings it all together in a true poetry of form and function.

Speaking of the International Project Award, Chris explains that “it is extremely encouraging for Maltese architects – who, in recent times, have shared a tarnished reputation with the local construction industry – to see their colleagues producing architecture with a capital ‘A’ outside of our shores.” And, in this case, such was the quality of the project that it was also awarded the President’s Award for Best Overall Project, which Chris maintains “overwhelmed and stunned” the team at Chris Briffa Architects. “We have always strived for the highest standards in design and architecture, at times paying prices surely nobody likes to bear. When our work gets recognised and acknowledged in this way, it inspires us to roll up our sleeves and press on!” cc

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A culinary gem in Rabat The most recent Tripadvisor review of Townhouse No3 sums up this exquisite eatery beautifully: “food and service has to be rated 150 per cent. Every course was served with so much detail and the taste was exquisite.” Subsequent reviews are equally heaped with praise.

Townhouse No3 opened its doors in July 2017. Its name is nothing more than the door number, shedding light on the simplicity of the chef's vision. Local produce is the main ingredient, cooked to perfection, using the techniques which the chef patron, Malcolm Bartolo, has acquired throughout his 19-year career.

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“The picturesque alleyway where the restaurant is located, drew Malcolm immediately to set up his venture in Rabat.”

The restaurant works very closely with small producers who grow and cultivate some of the island’s best produce, ranging from raw food to high-quality wines. The genuine sourcing of these ingredients is also evident on the food menu, which details the percentage of local produce used in each dish. Malcolm explains that in cases where local produce does not meet the quality desired, he uses imported produce from reputable farms that guarantee animal welfare.

Wine lovers are also well catered for. The restaurant boasts a 150-plus label wine list that features old local vintages dating back to 1998, wines from micro wineries and some very prestigious international names.

In 2007, Malcolm left Malta for the UK to gain some invaluable experience in the international culinary scene. Following a stint at one of the best five-star hotels in Edinburgh, he moved to the Isle of Man where he joined one of the island’s most acclaimed chefs in a fine dining restaurant.

In 2011 he accepted the position of executive head chef and in the same year the restaurant won two AA rosettes which were won consecutively until 2013. In 2013 the restaurant had the privilege of being the only

restaurant on the Isle of Man to have two AA rosettes and to form part of the Michelin guide.

Family circumstances beckoned Malcolm back to Malta towards the end of 2013 where he landed the task of setting up the kitchen of San Andrea, the fine dining restaurant of Palazzo Castelletti in Rabat. In 2015 he joined Palazzo Parisio in Naxxar, where he was promoted to head chef, but his vision was for a smaller outlet which would be more personal.

This vision led the way to the birth of Townhouse No3. The picturesque alleyway where the restaurant is located, drew Malcolm immediately to set up his venture in Rabat. The restaurant is spread over three rooms, a small bar area, a main dining room and a private cellar which is ideal for small meetings and business dinners. The private cellar offers full privacy to those who would like to enjoy a quiet dinner or a small corporate event. This intimate, beautiful space can be booked in advance, offering both exclusivity and privacy. cc 3&4 Republic Street, Rabat, Malta.

For more information, email info@townhouseno3.com or call 7900 4123.

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Food Trends

04. Oat milk

Trend forecasters are busy predicting what will be tickling our taste buds in the coming months. Sarah Micallef picks out some of the tastiest trends to look out for.

With more of us cutting out dairy than ever before, the hunt for alternative milks is on and the frontrunner in the race appears to be oat milk. It’s become increasingly popular in cafés and coffee spots, and has even begun to make its way into specialised oat milk products marketed as alternatives to dairy.

01. Goat

05. Plant-based menus

Goat has been a staple meat for many people for thousands of years but it has yet to find mass appeal on this side of the pond.

That’s set to change moving into next year as goat finds favour among menus looking to include the lean meat that is very low in fat. From goat curry to kebabs, we’re told it tastes similar to lamb, without the fattiness.

02. Smart snacking The majority of us have, by now, relegated crisps to very special, naughty occasions, but a recent wave of alternative crisps using healthier ingredients might mean that we can indulge a bit more often.

Enter chickpea, beet, quinoa and kale chips – they’re not especially nice to look at but they’re pleasingly crunchy and hit the snack spot without the added guilt.

03. CBD-infused food and drinks CBD or Cannabidiol comes from the resinous flower of the cannabis plant and has been touted to reduce pain, stress and anxiety.

And, now, the beneficial ingredient is making its way to our tables in the form of sparkling waters, coffees, teas, energy drinks, beer, wine and mixed alcoholic beverages, as well as foods spiked with CDB oil.

Another trend that sees people looking to reduce their environmental impact is the rise in popularity of plant-based menus, bolstered by the rise of plant-based food alternatives for those who are still keen on the taste of meat. Ingredients like soy, peas, cashews and almonds are all being utilised to cook up meat and dairy flavours, giving consumers the best of both worlds.

FOOD&WINE

01.

BBC Food

06. Sisig Filipino cuisine has been dubbed an up-andcoming food trend for a little while now but one standout dish is predicted to make a real impact. The legendary Anthony Bourdain had described Filipino food as the “food of the world” and one dish he was particularly fond of was sisig. The street food dish staple is comprised of sizzling, crispy pork and is diametrically opposed to the wave of health-conscious 2020 food trends. cc

02.

Ready Steady Eat

04.

Roottie

03.

Honest Cooking

05.

So Vegan

Unilever Food Solutions OCTOBER/NOVEMBER 2019

06.

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CC make the headlines

Is your HR function in good shape?

By Kim Spiteri If I had to pose this question to your entire business, what would your employees say? Would they express their happiness, engagement and overall empowerment to do great things for the company?

I’ll pose another question: have you ever considered how your HR function is contributing to the overall success of the company and if so, how is this being measured? We measure most aspects in life on a daily basis, whether it’s our weight, sizes, a business unit or an entire operation. All utilise different metrics. However, over time, we have all experienced certain metrics becoming obsolete in daily use, with new ones taking shape – how many of you still use inches to measure their clothing size, for example?

The same applies to communication – how many are still sending Christmas cards in the traditional way as opposed to using social media?

In the same way, when measuring our HR function, we need to be careful about the means we use to measure its effectiveness.

We must ensure that our tools and metrics are no longer reflecting whatever was effective in the past but instead, are in line with current assessment needs, where speed of innovation and numerous aspects forming a complex matrix shape the economy each day. Therefore measuring the ‘shape of your HR function’ with ‘past’, standardised metrics might in turn result in false positives. At least this is my personal experience gained at StreetHR through auditing various companies for HR effectiveness along with gaps in training, performance management and engagement, to name a few.

We have therefore transitioned into the need to measure our ‘HR shape’, utilising unique tools tailor-made for each company depending on its context.

At StreetHR we see this manifesting itself in our daily provision of HR services to different clients. No clients are alike and all bring their unique and complex challenges, and naturally, these all need to be approached with their own unique measures that deliver value-added to the organisation in question. We offer tailor-made HR solutions to clients who are either operating with a fully-fledged HR department, or one which is in transition, or even smaller enterprises with no HR system in place, and provide support on specific, agreed projects and deliverables,

OCTOBER/NOVEMBER 2019

“When measuring our HR function, we need to be careful about the means we use to measure its effectiveness.”

whether that is in the form of strategic input to an already existing HR ecosystem – an extended arm, so to speak – or developing systems from scratch by focusing on what really matters.

The benefit of this approach is that we are able to execute our plans in comparatively little time and with much less investment needed by the respective company than if the latter were to engage an additional HR professional. This is achieved by focusing solely on value-added activities and delivering results through metrics and systems that specifically fit the need and the business at that given time.

Another important component is leadership development. We also specialise in creating leadership and management development programmes by working with different leaders and management ranging from team leaders to board members. We believe that a proper

‘HR shape’ can only be achieved by having a strong presence of leadership practices, where the management team is also able to apply an HR frame of mind and support HR best practices.

HR is definitely not a one person show and no HR manager on his or her own can make a great enough impact to a business’ operation. Hence the importance of true belief in and commitment to HR as an imperative business function of strategic partners to shape the future.

I therefore pose the question again – are your HR and organisation in good shape?

It would be great if we could discuss your reply over a coffee. cc Kim Spiteri is a warranted Occupational Psychologist and a Senior HR Consultant at StreetHR, and can be reached at kim@streethr.com.mt

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Firstbridge: Cultivating business success Opening its doors in 2005, Firstbridge is a company that specialises in financial corporate support provided by its team of professionals and that offers an array of financial services to different businesses and organisations.

Having several years of experience in managing business activity across a vast range of industries, Firstbridge offers a complete spectrum of services which span from accountancy, payroll, and back-office support, to the more complex services of incorporation, financial advisory, taxation support, administration, VAT, and corporate services.

Firstbridge is all about helping businesses and individuals bridge the gap between their financial requirements and goals. Equipped with a team of in-house experts, coming from different areas of financial management, the company studies individual cases from a holistic perspective, offering a tailor-made solution to suit specific needs. Having the right expertise to analyse each case from various financial perspectives, Firstbridge offers a highly personalised service that adapts to their

Investing in your development with BOV Studies Plus+ When it comes to furthering one’s studies to reach career goals, time and funds may be an issue.

Often, students face barriers such as the cost of the course, as well as accommodation, transport and living expenses, text books and other study-related costs.

Bank of Valletta has recently launched a new financing solution to make career goals more achievable and associated burdens lighter.

Students and professionals who would like to further their studies either in Malta or abroad, undertaking full-time, part-time or distance learning study courses that would provide them with an MQF level 5, 6, 7 or 8 qualification can now benefit from costeffective funding through the BOV Studies Plus+ facility.

The BOV Studies Plus+ comes with a number of benefits including an attractive interest rate and a maximum loan amount of €100,000. Students or professionals taking

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client’s set-up at a pace that is most effective.

The company works through all the technical formalities so as to allow clients to focus on their other business priorities. Client needs are unique to the situation in which they operate.

Modern techniques and the use of the latest technology are also at the heart of the Firstbridge offering, thus allowing the team to spend more time on giving advice and being more proactive – all the while retaining the same, high quality. This investment in digital tools further allows its clients to better understand their financial situation, enabling the company to red flag and pinpoint matters

up this loan can also opt for a moratorium period of up to five years, meaning that during these five years they do not need to make repayments on capital or interest. The repayment of capital and interest accruing from the end of the moratorium period can be made in equal monthly instalments over a maximum period of 10 years. In addition, students do not need to make any upfront contribution, nor provide collateral.

This loan is made possible with the support of the Operational Programme II (OPII), co-funded by the European Social Fund (ESF) and managed by the Malta Development Bank (MDB). The financial collaboration between BOV and the MDB ensures that truly affordable loans are made available to students, with MDB acting as guarantor for part of the loan (subject to a capped portion of the portfolio) and offering a full interest subsidy during the moratorium period. cc So what are you waiting for? Take the plunge and invest in your selfdevelopment. Talk to our financing specialists who will guide you further. Send an email to customercare@bov.com or call on 2131 2020 to set up an appointment.

For more information visit https://bov. com/content/bov-studies-plus-plus

whilst also anticipating room for improvement for its clients.

Firstbridge is dedicated to cultivating business success among local and foreign entities that are undergoing commercial activity, regardless of their size and industry.

Firstbridge is a firm believer in social initiatives enabling the company to provide a full suite of professional services to match the needs and wants of the business community – and Malta – at large. cc Get in touch with our team at Firstbridge on info@firstbridge.com

All loans are subject to normal bank lending criteria and final approval from the bank.

The term of the loan must not go beyond retirement age. 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). Issued by Bank of Valletta p.l.c., 58, Triq San Żakkarija, Il-Belt Valletta VLT 1130

OCTOBER/NOVEMBER 2019

CC make the headlines

Why you should invest in the MAPFRE MSV Life Single Premium Plan Do you have a lump sum of money which you happened to save over several years?

Or perhaps, you simply inherited a wad of money and are actively looking for ways to make good use of it?

Your first thought may be to spend it.

Of course, that’s always an option – and probably the most fun option too. However if truth be told, when you’re dealing with a lump sum of cash, it is undoubtedly better to invest it for the long run. When it comes down to allocating a significant amount of funds towards any investment plan, time is ultimately on the side of long-term investors.

So without further ado, let’s take a look at why the Single Premium Plan could be the investment plan you’ve been waiting for.

Designed to provide you with both capital protection and attractive bonus rates, our Single Premium Plan allows your money to be invested in the MSV With Profits Fund.

The latter is a time-tested, reliable and taxefficient method of investment which involves the smoothing of your returns by spreading the profits over both great and mediocre years.

Here, our aim is: To provide you with an alternative investment option with the potential for medium- to longterm, tax-efficient capital growth; To pay a death benefit of 101 per cent of the plan value to you, your estate, or a designated beneficiary upon the death of the person covered before the plan term expires; To grant you access to your money by making one-off withdrawals or regular annual withdrawals.

As such, your commitment would be: To invest a minimum lump sum of €5,000, with the option of being able to make additional top-ups at any time. No top-ups can be made in the final year of the plan; To determine the duration of the plan upon your first investment, subject to a minimum of five years.

since you are likely to lose more money (in missed growth) if you don’t.

Ready to begin? If so, then look no further. cc Head on over to www.msvlife.com/lifeinsurance/personal/investment/simpleandsecure/single-premium-plan for more info on the Single Premium Plan.

Having said that, we hope you come to the conclusion that investing your cash sooner than later is a very viable option, especially

MAPFRE MSV Life p.l.c. (C-15722) is authorised by the Malta Financial Services Authority (MFSA) to carry on long-term business under the Insurance Business Act, Cap 403 of the Laws of Malta.

MAPFRE MSV Life p.l.c. is regulated by the MFSA.

always enjoy the drive.

With versatility at its core, the interior has been designed to meet the challenges of an active lifestyle. It combines a dynamic fiveplus-two seat profile with a spacious, modern interior, one which features two display screens and a new centre console. This ensures that everyone enjoys the refined and luxurious environment. The slide and recline function of the second row provides even more flexibility – leaving everyone to unwind on their devices, watch a movie or simply

relax in the comfort of their own space.

Our wide range of engines means there’s one to suit every need. They’re all beautifully engineered and use advanced technologies to deliver smooth performance, whilst their intelligent Stop/Start system is designed to improve fuel efficiency and reduce emissions.

Mild Hybrid Electric Vehicle (MHEV) technology harvests and stores energy normally lost during vehicle deceleration and intelligently redeploys it to assist the engine to maximise efficiency. cc

Discovery Sport: The most versatile compact Land Rover The new Discovery Sport is designed and engineered to take you and your family wherever you want to go. The instantly recognisable Discovery design DNA has been perfected to ensure a striking visual impact.

Modernity and refinement are reflected in the new front and rear bumpers, grille design and LED lights, making the Discovery Sport a contemporary, sophisticated and sporty addition to the Discovery family.

Available in two distinctive versions, Discovery Sport’s newly refined design emphasises the enhanced versatility of Discovery, while the Discovery Sport R-Dynamic expresses its overt sporting nature.

The moment you step inside Discovery Sport, you feel a sense of calm. The panoramic roof bathes the cabin in light, whilst bold horizontal and vertical lines complement the clean, uncluttered surfaces.

Combined with premium materials which have been responsibly sourced, you will OCTOBER/NOVEMBER 2019

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HSBC Malta launches new mobile banking app For every download the bank donates €1 to Nature Trust Malta.

HSBC Bank Malta has launched its new mobile banking app, which is available to download now for free from the App Store and Google Play. With a simpler login, the new app is easier to use and offers the ability to transfer money to third parties without the use of the Secure Key. To encourage customers to download and use the app, HSBC Malta will donate €1 for every download, up to a maximum of €20,000, to Nature Trust Malta. These funds will be used to plant 2,000 new trees in 2020.

The new HSBC mobile banking app offers biometric logon such as Touch ID and Face ID for Apple and Fingerprint ID for compatible Android devices. This provides faster and secure access to all of the app’s features.

Alternatively, customers can log in using a simple six-digit PIN.

Laferla – 35 years on and going strong Basing its philosophy on the highest standards of service and professionalism has allowed Laferla Insurance Agency to maintain a steady rate of growth over the past 35 years, and in the process to build an enviable reputation in the market.

Laferla Insurance Services, as it was then known, started trading in October 1984, founded by Mark Laferla Snr who remains the firm’s Chairman and Managing Director.

Over the 35 years of working with some of the biggest names in the industry, including underwriters at Lloyd’s of London, Laferla Insurance Agency has built a prestigious track record both locally and abroad. The firm was the first insurance agent in the world, outside of the United Kingdom, to be given the underwriting pen of PPP healthcare – a major milestone in the history of both companies.

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Using the latest in encryption technology, the app allows users to view account details and balances, and also see their transfer history. Users can also transfer between their own accounts, pay a third party account with HSBC Malta, pay a third party account within the Single Euro Payments Area (SEPA) and also make payments to companies. For third party transactions the payees must first be set up through the bank’s personal internet banking platform.

Dan Robinson, Head of Retail Banking and Wealth Management says, “we’re really excited to launch our new mobile banking app, which gives our customers the freedom and convenience of being able to access their accounts 24/7. Not only is HSBC committed to making life for our customers easier, but we’re also committed to making access to accounts faster and more secure. We’ve decided to link the launch of our new app to an important local initiative which will see us donate up to €20,000 to Nature Trust Malta. In this way, anyone who downloads and uses the new app will also be supporting the environment.”

Starting later this month, all of HSBC’s branch customer waiting areas will be transformed to take on a more green naturerelated appearance to further promote our ‘plant a tree with your fingertip’ campaign and thereby helping make Malta greener. cc

HSBC Malta’s ‘plant a tree with your fingertip’ campaign

Further information on HSBC’s new mobile banking app is available at www.hsbc.com. mt/ways-to-bank/mobile, from any HSBC branch, or by calling the HSBC Contact Centre on 2380 2380.

Today, Laferla has its own health insurance products which were launched back in the year 2000 following PPP’s merger with another insurance giant. This brave leap to take on some of the biggest names in the industry has paid off and Laferla’s client portfolio has grown steadily ever since. Health insurance remains a major pillar in Laferla’s line-up of offerings – with an impressive client portfolio. The firm today also prides itself on being the largest agent for Mapfre, itself a major player in the global insurance scene.

As the company grows into its second generation, its approach and mission are based on a solid foundation. This is evident from the numerous awards given to the firm spanning from service excellence to being recognised for its achievement throughout the years, as well as being recognised as a ‘superbrand’.

Whilst keeping family values at heart, the company has now thrived into an internationally respected brand with a strong local base, and Mark Laferla sums it all up by commenting that “We are very proud to be celebrating this milestone in the firm’s history and very grateful to our entire team for the hard work and dedication that undoubtedly contributed to building the brand up to what it is today – through the tough times and the good, as well as downright exciting!”cc

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New vPBX solution keeps your business always online Say hello to simple, cost-effective communication, anywhere.

Since your team, suppliers and clients are always on the move – your business should be too. You never want to miss any important calls and updates, so a smooth connection is essential, wherever you are. That’s where GO’s Virtual PBX comes in.

GO Business vPBX Benefits If you have a GO vPBX and an internet connection, you have full access to your office. Not only is this reliable, but it’s also on the Cloud. This means that no hardware is necessary, and with a ‘pay per seat’ subscription, you get the flexibility to add/ remove lines as your business changes or grows. Meanwhile you will avoid time and costs associated with additional set-ups – thus freeing up resources to let your business grow.

Get that professional edge with extensive

features like call forwarding, hunting groups, auto attendant and free internal calls between colleagues. You can easily get a cost-effective, personalised vPBX Solution, which is especially handy if you’re an organisation looking to scale up operations or even just starting out. vPBX Packages The Standard plan will get most companies started, while the Infinity and Pro options offer the best value with unlimited local fixed and mobile calls. Moreover, when you choose Pro, you will also get the GO Communicator Mobile App included in the package. This way, you’re always reachable and never have to miss a beat.

How? You will receive all customer calls wherever you are and can reply immediately. Even when you’re abroad, as long as you have an internet connection, you can call at no additional charges. Best of all, your personal number remains private since with Go Communicator customers can reach you everywhere on your business number, thus protecting your privacy and that of your family. cc Interested? Get in touch with us today for more information about GO’s vPBX solutions! Email us on info@gobusiness.com.mt or visit www.go.com.mt/business/vpbx

An emblematic building that exceeds expectations Welcome to The Notch Conference Centre, a newly created space to host professional events, boost trade relations, business and networking, and act as a catalyst for knowledge. We have taken the expected to the surprising based on the philosophy that an event needs to be brought alive. Our role is to be our customers’ ally, sharing their vision and reinventing ourselves constantly to provide results that meet their expectations.

Our emblematic building is the perfect balance of beauty, functionality and versatility.

Its spectacular façade and entrance are ideal for showcasing your event. The centre’s rooms and auditoria offer infinite versatility for all types of events, whatever their size.

The three-storey edifice features a foyer, reception area and a multi-purpose conference room seating 98 persons in theatre style on the ground floor, making it an ideal space for exhibitions or catering events. The conference room on the first floor can seat a total of 210 delegates, suitable for large meetings and opening or closing ceremonies with large 130

audiences. The top floor offers a world of options and essential flexibility with our five break-out rooms, the perfect complement to your event. Transformable and functional space is created by using adjustable soundproof panels, allowing you to create as much space as needed.

Complement your event with the latest state-of-the art audio-visual equipment and a dedicated high-speed internet connection.

Raised adjustable flooring provides endless set-up options allowing you to be the

mastermind behind the configuration of your event. On-site parking is also available, providing a complete hassle-free experience.

We invite you to come over to view our venues and facilities in order to help you picture your event. cc For further information and to book your event, contact our dedicated sales team on 2138 5926 or events@urbanvalleyresort. com. We will ensure that your meetings and events run successfully, every time.

OCTOBER/NOVEMBER 2019

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Stepping up efficiency Malta’s public lands administrator, the Lands Authority, has a significant role in implementing the Government’s overall agenda of economic and social progress. Recent results and schemes are intended to ensure that economic success is felt by all, as CEO James Piscopo elaborates.

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he Lands Authority administers land belonging to the Government of Malta and all land that forms part of the public domain. Its mission is to act on behalf and in the interest of taxpayers in the management of public property. The Authority has faced a number of challenges through the years. Nowadays, its main challenge is to become more efficient. Clients must be served in a timely manner, slowly eradicating cases whereby people had to wait for years, if not decades, for decisions concerning their property to be taken.

The Lands Authority Reform of 2017 is a solid piece of legislation, though it is perceived as lacking the necessary mechanisms that lead to quick and efficient decision-making. Aware of this, bold but logical decisions were taken. The Lands Authority’s Board of Governors has updated its approach, adopting a working model that is similar to any other Authority that practices the separation of powers. As a result, the Board is now able to focus its valuable time and energy on matters and transactions of material importance and those considered of higher risk.

Slowly but steadily, the Authority is experiencing positive change. In fact, comparative studies indicate optimistic results and a positive trend. In fact, noteworthy improvement is registered in the most vital aspects of the Authority’s core functions. The number of contracts signed has risen by 206 per cent, having seen an increase from 108 in 2018 to 330 in 2019. The amount of architects’ valuations rose by 83 per cent, disposals published rose by 608 per cent and leases and allocation agreements rose by 85 per cent.

These numbers are not enough. There are more reforms that the Authority needs in order to anticipate and overcome the daily challenges it faces. A sure step in the right direction is the scheme launched this October for the redemption of temporary emphyteusis and leases with the Joint Office on residential properties. This is a scheme administered by the Joint Office and the Lands Authority, to the benefit of thousands of families and individuals living in such properties. It is a step that has long been awaited by many Maltese citizens and that will lead to many people putting their mind at rest and enjoying better quality of life.

Requests that have been pending for many years can now be solved, in what continues to be a commitment towards more families owning their own homes.

In this sense, the Lands Authority has

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“Slowly but steadily, the Authority is experiencing positive change. In fact, comparative studies indicate optimistic results and a positive trend.” proved to be a protagonist in ensuring that economic success continues reaching more people. While prices are comparable to those of preceding schemes, the scheme will nonetheless remain open for an indefinite period so that anyone who is eligible is given the opportunity to prepare themselves for any costs related to this redemption. Another step in the right direction was the facilitation of agricultural land transfer. The Agricultural Land Scheme allowed cultivators of Government-owned agricultural land (including ex-Church property) to apply for a new lease under the benefits offered by the scheme.

It is imperative to remain focused on the future and how best it can understand and see to people’s needs. By the end of

this year, the Authority will introduce robust online application systems with an improved interface. Applicants will have their request sorted within a pre-determined timeframe.

This is a radical shift that will require cultural change within the Authority itself.

The Lands Authority must also speed up the processing of the amassed backlog of ‘recognitions’. These primarily originate from the pending church property registrations, notwithstanding the fact that 27 years have passed since the church-state agreement was struck. There is certainly much to do, and the Lands Authority remains committed towards becoming an effective and accountable vehicle that contributes towards the Government’s overall agenda of economic and social progress. cc OCTOBER/NOVEMBER 2019

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Creating seamless customer journeys Customers want to do business with companies in more ways than before, using more varied means of communication than ever before – social, digital, direct, in-store, mobile, and via call centre. An often-forgotten touch point is the transition from the virtual to the physical world.

We bridge that gap by integrating the virtual and physical worlds to create seamless customer journeys. By allowing customers to book online, to utilise their smart devices to manage their place in the queue, to self-check-in, to receive personalised service based on preferences and profile, and to provide their views in real-time, we make sure that both our clients and their customers and patients make the most of every meeting.

Customer Journey Management in fact links the service points together, helping managers understand the dynamics of the customer’s visit and ultimately his experience. It stresses the importance of planning and monitoring the customer’s entire visit, also capturing data and information at each point of contact with a member of staff or selfservice point to manage operation and drive efficiency.

The six steps cover the entire customer journey and every step is the key to ensuring a faster and better service process and business benefits for all kinds of organisations: Pre-Arrival Arrival Queuing and Waiting Serving Post-Serving Managing Consisting of a range of systems built with modern software and hardware designed to work together, they provide vast opportunities to integrate to other systems like CRM, Point of Sale, Business Analytics, Digital Signage, Hospital Information Systems, and Mobile apps, supporting the objective of making the most of every meeting. cc

To find out more, contact us at Joseph Cachia & Son Ltd, 103, Archbishop Street, Valletta. T: 2552 9000; E: info@jcs.com.mt; W: www.jcs.com.mt

OCTOBER/NOVEMBER 2019

CC meet the artist

Observations from the sidewalk Tina Mifsud speaks to Caroline Curmi about creative processes and how self-discovery and art are all part of the same journey.

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rt has always been a source of respite for Tina Mifsud, who freely admits that, irrespective of emotions of happiness, sadness, anger, turmoil or love, the practice has been her constant go-to source for inner balance. In contrast, a career in the arts has not always been as clear-cut an affair.

Her intimate link to the practice was evident ever since she was enrolled for art lessons at the young age of five. In fact, Tina reveals that some of her earliest memories include having a paintbrush in hand. During her early years, her creative bursts often received stern reprimands from most of her academic tutors. “I always got shouted at,” Tina laughs in hindsight. “I would always doodle instead of pay attention in class.”

Not all educators took insult to her in-class sketching sessions, however, and Tina shares fond memories of one especially supportive tutor. “A primary schoolteacher once took the time and interest to see what I was up to,” Tina recounts. “It resulted in her contacting my parents to ensure I chase more artistic ventures.”

Despite her natural inclination, the decision to actively pursue art as a full-time profession came after long years of academic study. “I had achieved both my O and A-levels in art but, at the time, I made the decision to follow a degree in tourism studies,” Tina narrates. “There was a time when I actively enjoyed it, but after working in the industry for two years the realisation that I was not fulfilled hit hard. I decided to take a leap of faith and pursue my artistic practice fulltime,” she explains. “I delved into this new chapter body and soul, and embarked on a one-year-long art tuition programme at a studio in Barcelona, and I haven’t looked back since.”

The decision was not a light one and she admits that she took her time to settle into the prospect of creating a new life path in Barcelona. Having visited the social metropolitan three times, she eventually decided that the city fit her requirements. “I love how similar the lifestyles in Barcelona and Malta are, especially with the beautiful beaches and the social atmosphere,” she gushes. “Although I love my life there, I must admit that the fact that it reminds me of home makes the distance more bearable.

Adding on to that, having managed to find the perfect art course and, by extension, finding a real purpose, further boosted my desire to relocate – and here I am now!”

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Tina confesses that the aftermath of this decision provided a crucial contribution towards her artistic evolution. Having a dedicated time slot specifically for art practice allowed her the space to master different techniques and refine her aesthetic. Through this, she rediscovered the importance of constantly pushing past personal boundaries and obstacles.

“As an artist, I believe it is so important to experiment with new styles, mediums, materials…” she says. “It's imperative not to limit yourself, creatively or otherwise, as you will always find new and different ways to enhance your work. It's something I love doing actually!”

Despite having settled into a new way of life and enjoying a seemingly linear trajectory into the future, Tina is fully aware that stylistic stability in art is very rarely part of a good creative formula. “Right now, it is all about exploring,” she states with cool confidence.

Her current arrangement allows her that and more. “Since I am technically my own boss, I have the freedom to select which

“It’s imperative not to limit yourself, creatively or otherwise, as you will always find new and different ways to enhance your work.”

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CC meet the artist

hours to dedicate to my practice,” Tina explains. “I have a 24/7 studio, which is paradise for me because it allows me to hop over anytime I get the urge to paint, experiment or create,” she says. This doesn’t mean she relies solely on inspiration to fuel her artistic process. On the contrary, she thrives on having structured days. “I make sure I work at least six hours a day – be it by watching YouTube tutorials, writing work statements or just sketching,” she explains. Networking is another critical part of an artist’s work week, as Tina herself can attest. “Whenever I hear of any interesting exhibitions, I make sure to make an appearance,” she says. “Apart from curating a contact portfolio, it’s also nice to support other artists and allow yourself to be inspired by their work.”

Inspiration, be it through life’s work or others’ art, is a cycle that affects any artist’s perceptions and ideas. She stresses the fact that now, in the early stages of her art career, she is in a transition phase. “My style is constantly changing,” Tina says. “My mum always tells me how art is one of the few things in life that get better with age,” she elaborates, adding that this backing helps to keep a peaceful mind. Ultimately, it’s all a matter of commitment: “the more you practise, the better you get at it.”

The way in which Tina observes the world and processes its concealed information reveals an innate inquisitiveness and an inner maturity that goes beyond her 25 years.

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CC meet the artist Her thoughts manifest themselves through her brushstrokes infused with colour and life and, while words may sometimes evade her, the art she produces generates a secondary communication channel that is a direct transmission straight from her soul. Nonetheless, communicating emotion through painting is neither a straightforward nor linear procedure. Tina places huge emphasis on the early stages of an artistic work, even though it is common practice for this phase to be the least prioritised.

“Thought processes and idea conception are extremely crucial in order for the visuals to unravel,” she asserts.

Tina transferred these convictions to her most recent debut of works. On a regular day, a sketchbook can always be found within her immediate possession.

While she admits that serious work occurs mainly within the parameters of her studio, having a sketchbook at hand allows the thought process to be carried out anywhere and everywhere – a freeing option which enhances creativity. She meticulously documents every little – and in her words, silly – detail down, for later reference and consideration.

For the conception and development of her most recent exhibition ‘Il-Plajja: Playa’, she amplified this approach and took the time to sit back and allow herself to properly observe those around her. “I remember just sitting on the beach one day and starting to notice and admire the way people would carry themselves,” she recounts. “Their confidence at the beachside was particularly

“Body language is an unspoken dialogue of intimacy, attachment, familiarity and fondness, awkwardness, hostility, anxiety and comfort.”

striking and I really wanted to bring this take on Mediterranean beach culture to life.” In order to explore this theme at her studio later, Tina started photographing her subjects and even befriended some of them in order to match perception to reality.

Tina’s observations are based on the transmission of the subtle, decoded information the human body transmits. “You can get so much information just by taking note of body language,” she explains. “It's an unspoken dialogue of intimacy, attachment, familiarity and fondness, awkwardness, hostility, anxiety and comfort.” Tina’s remarks do not bypass the physical element and she reveals that skin is an equally OCTOBER/NOVEMBER 2019

intriguing and rousing factor. “It’s constantly changing, almost like wear-and-tear, and I feel like the marks accumulated on it act as a stories cache pertaining to each individual.”

While she admits that she was more into landscapes early on in her artistic development, this project saw her lifelong fascination with the human form morph into a predominant theme in her artwork without taking over her creative vision. Tina infused ‘Il-Plajja: Playa’ with these thoughts and allowed them to manifest through her entire collection. Her largest showcase to date, the 18 brightly coloured, brutally yet unoffensively honest artworks took six months of arduous work to produce and exhibit.

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“My art training taught me to study and observe other people, and the next step is for me to look inwards and see how I would portray myself.”

Despite harbouring fond memories of her first international exhibition in Barcelona, Tina confesses the final outcome of ‘IlPlajja: Playa’ overshadows all previous demonstrations. The pride she feels at accomplishing such a feat is impossible to deny but Tina hesitates to take full credit for the exhibition’s success: “my friends and family provided a great support system and their morale contribution was a sanity saver.

I definitely wouldn’t have achieved all of this without them!”

Looking onwards, Tina declares that this exhibition has not exhausted the human body as a major theme. In fact, she admits this element is to remain consistent throughout her current work as she pushes herself to explore past her previous achievements. While her earlier exhibition revolved around observations from a distance, tiny glimpses into her new work hint that future projects will be decidedly more personal and introspective. While she hesitates so as not to over-reveal elements of her latest project – which is currently in its early stages – she does divulge that she is to be the subject of the new work.

“My art training taught me to study and observe other people, and the next step is for me to look inwards and see how I would portray myself,” Tina allows. She continues that this supplements her personal journey

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as its aim is ultimately self-discovery. “I’m seeing this as ‘being my own French girl’, as it were,” she says, making reference to the iconic Titanic scene, where Jack, played by Leonardo DiCaprio, is commissioned by Rose, played by Kate Winslet, to draw her wearing only a bejewelled necklace.

When asked about her future, Tina admits that she is hopeful that she will continue to sustain herself as a full-time artist. “I can’t say that the past year hasn’t been difficult,” Tina admits. She relents that she has done quite a good job at managing so far and is looking forward to persevering on

this journey. “In a few years’ time, I hope to have my works exhibited in some amazing international spaces or shows,” she exclaims as she elaborates: “I want to inspire other people through my art in the same manner other artists have inspired me through theirs.”

Indeed, her desire to convey a powerful message to her audience is infectious and real, yet, she loops back to her previous comments about process and self-discovery.

“I’m not quite there yet but I’m working towards it and, at the end of the day, that’s what matters, not so much the end goal as the journey,” she concludes. cc

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