NATIONAL UNIVERSITY OF SINGAPORE BUSINESS SCHOOL 2010/11 ANNUAL REPORT
Mochtar Riady Building: Photo courtesy of Nelson Lim, NUS Communications & Media alumnus.
Dear alumni, students, colleagues and friends of NUS Business School, I have just finished my first term as Dean of NUS Business School and am now starting my second term. I would like to thank you for giving me this opportunity to continue serving the school. It has been a challenging and fulfilling period, with significant progress. I would like to share with you some of our successes in Academic Year 2010/11 and outline the school’s priorities. 2010/11 was a remarkable year for the school. Our MBA programme was ranked 23rd globally by the Financial Times, making it the highest ranking ever achieved by any Singapore MBA programme. The FT ranked our EMBA programme 27th in the world in 2010. The Princeton Review cited us as the top business school in Asia. I am heartened by our students' continued success in representing the school. Over the past 12 months, many of our students emerged champions in domestic and international competitions – in fact, we are placed among the top spots in a remarkable 19 out of 21 entries. The quality of our students is among the best in the region; admission requirements to our undergraduate and graduate programmes are clearly the highest in Singapore. NUS Business School is the preferred choice in Asia for the best and brightest seeking to pursue careers in finance, accounting and business.
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MESSAGE FROM THE DEAN
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Likewise, I am proud of our faculty who received prestigious commendations, such as Prof Richard Arvey, head of the school's Department of Management and Organisation, who was honoured with a lifetime achievement award by the Society for Industrial and Organizational Psychology. Many others have had their work featured in a number of respected publications and world-class journals, and several faculty members serve on the editorial boards of leading global journals. I would like to note here that we have also strengthened our teaching and research capabilities with the recruitment of 35 new faculty in the past three years.
In the year ahead, I have identified two key priorities. The first is to strengthen our efforts to create Asia content in our research, teaching programmes, and partnerships. In essence, we will use our location advantage and context to advance world-class research and teaching. Second, we want to build a strong reputation for excellence and a brand identity that all our stakeholders – faculty, staff, students and alumni – can proudly associate with and leverage. We can only do this when we all, every one of us, communicate and reinforce our strengths and collectively raise the school’s profile in Singapore and internationally.
Equally noteworthy is the way in which our alumni have strengthened their support for the school through many activities and forums. Our Eminent Alumni event recognised seven outstanding alumni for exemplary achievements in their various fields of work and their contributions to society.
In terms of research, we are developing centres of excellence. The recently-launched Centre for Governance, Institutions and Organisations (CGIO) and the Centre for Strategic Leadership (CSL) will complement our existing centres, namely the Centre for Asset Management Research and Investments (CAMRI), and the Asia Centre for Social Entrepreneurship and Philanthropy (ACSEP). These research centres bring together practitioners and academics, and encourage meaningful exchange in an Asian context which can benefit industry as a whole.
While we are pleased with the school’s success, which put us among the best in Asia, there is much more that we can do – and are doing. As Asia’s Global Business School, we aim to be the first for business in the region. We want to be known for our thought leadership and to leverage our location in Asia and the vast knowledge within the school to contribute to the region’s enviable development.
Adding to our rigorous academic research and training, we will build strong connections with strategic business partners, and will continue to encourage our students to work closely with
ESSAGE FROM THE DEAN companies on consulting projects. This experience will teach our students to be rigorous, practical and relevant, and will help develop their business acumen, creativity and communication skills. The year in review has been a momentous one for NUS Business School. This edition of our annual report charts how we, as a pioneering business school in Asia, leverage our 45 years of history in grooming business leaders who contribute to the region’s development. While being most grateful for our wonderful past, we will continue to invest in building an environment high in intellectual intensity, aiming to enhance our thought leadership and produce graduates who will make significant contributions to society. Finally, I would like to thank Dr Mochtar Riady and his family for their generous gift towards the new Mochtar Riady Building. In addition to providing state-of-the-art facilities, it has helped to foster a greater spirit of community, friendship and learning in Asia’s Global Business School.
Prof Bernard Yeung Dean and Stephen Riady Distinguished Professor NUS Business School
MESSAGE FROM THE DEAN
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TOP IN ASIA
2011 Forbes rankings (for two-year MBA programmes) 2011 Quacquarelli Symonds (QS) World University Rankings® by Subject (for accounting and finance)
#1 MBA IN A SINGAPORE UNIVERSITY Financial Times MBA Rankings 2011
#1 EXECUTIVE MBA IN A SINGAPORE UNIVERSITY Financial Times EMBA Rankings 2010
ASIA’S GLOBAL BUSINESS SCHOOL
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FIRST FOR BUSINESS IN ASIA
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NUS BUSINESS SCHOOL
IRST FOR BUSINESS IN ASIA
Top Business School in Asia and Only Singapore Business School listed Princeton Review, 'The Best 300 Business Schools'
Top 5 University in Asia and Top 30 Worldwide Times Higher Education World Reputation Rankings 2011
First school in Asia to be a full member of CEMS, an alliance of leading business schools and multinationals formerly known as the Community of European Management Schools
Top 3 in Asia-Pacific QS Global 200 Business Schools 2009: The Employers' Choice Survey
Top 10 Business School in Asia Eduniversal 2010 (Asia) Top 3 in Asia; #1 in Asia for employer reputation 2011 QS Asian University Rankings
#1 Singapore Business School and Top 50 Worldwide University of Texas, Dallas (UTD) on Research Output 2010
M NUS Business School family and friends, It has been a privilege to chair the school’s Management Advisory Board for the last two years. I am aware that since the inception of NUS Business School in 1965, it has grown in stature and reputation. Now we’re looking ahead at how the school can groom individuals to lead and transform the business landscape in Singapore and Asia. While the school prepares students for the business
ESSAGE FROM THE CHAIRMAN
world, this is not confined to helping them create wealth. The school has a role to give them the right ethical framework. The world is full of temptations and uncertainty. We have to inculcate the right values in those who pass through the school so that they do right by their employees, customers and shareholders – as well as society at large. In our aim to be Asia’s Global Business School, we must continue to innovate and make a difference to improve lives and livelihoods, and promote progress in society.
I look forward to serving on the board for another term as we move into an exciting phase for Singapore and Asia.
S Dhanabalan Chairman, Management Advisory Board NUS Business School
MESSAGE FROM THE CHAIRMAN
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CHAIRMAN
DEPUTY CHAIRMAN
Mr S Dhanabalan Chairman, Temasek Holdings (Pte) Ltd Member, Council of Presidential Advisors Member, Presidential Council for Minority Rights Alumnus, NUS
Mr Hsieh Fu Hua Member, Board of Directors of Temasek Holdings (Pte) Ltd Co-Founder & Adviser, PrimePartners Group of Companies Member, NUS Board of Trustees & National Arts Council Alumnus, NUS Business School
MEMBERS
Mr Hsieh Tsun Yan Chairman & Lead Counselor, LinHart Group Independent Director, Sony Corp & Bharti Airtel Member, Boards of Directors of Manulife Financial Corporation and The Manufacturers Life Insurance Company Adjunct Professor of Leadership, Lee Kuan Yew School of Public Policy
( in alphabetical order )
Dr William Fung Executive Deputy Chairman, Li & Fung Ltd Non-Executive Director & Deputy Chairman, HSBC Ltd Independent Non-Executive Director, Singapore Airlines Ltd, Shui On Land Ltd, Sun Hung Kai Properties Ltd, The Hong Kong and Shanghai Hotels, Ltd & VTech Holdings Ltd Ms Euleen Goh Non-Executive Chairman, Singapore International Foundation Non-Executive Board member, Aviva plc, Singapore Airlines Ltd, Singapore Exchange Ltd, CapitaLand Ltd & DBS Group Holdings Ltd and DBS Bank Ltd Chairman, Accounting Standards Council Board of Governors of Northlight School Advisor, Singapore Institute of International Affairs Chairman, Singapore Chinese Girls' School
Mr Liew Mun Leong President & CEO, CapitaLand Group Chairman, Changi Airport Group (Singapore) Pte Ltd Non-Executive Director, Singapore Exchange Ltd and Singapore China Foundation Ltd Member, National Productivity and Continuing Education Council, Governing Council of the Human Capital Leadership Institute, Board of Trustees of Chinese Development Assistance Council and Board of Directors of Surbana Corporation Pte Ltd Alumnus, NUS Mr Tan Soo Jin Partner & Director, Amrop Hever Group/ Gattie-Tan Soo Jin Management Consultants Pte Ltd Member, Governing Council of the Singapore Institute of Management
Management Advisory Board members engaging with the school Leadership Dialogues
Mr Hsieh Tsun Yan at the inaugural session, sharing his thoughts on the makings of a leader.
Mr Hsieh Fu Hua speaking on the importance of maintaining a value system at work.
Ms Euleen Goh addressing the audience on 'Setting Your Compass to Success'.
Mr Tan Soo Jin in a talk on political and social issues.
Mr S Dhanabalan hosting a student dialogue with NUS Business School undergraduates at his Temasek Holdings office. Mr Liew Mun Leong delivering his speech as guest speaker at NUS Business School's Commencement 2011 ceremony.
Dr William Fung joined the Management Advisory Board in July 2011.
MANAGEMENT ADVISORY BOARD
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1. Assoc Prof Quek Ser Aik Vice-Dean, Graduate Studies
3. Assoc Prof Hum Sin Hoon Vice-Dean, Undergraduate Studies
2. Assoc Prof Trichy V. Krishnan Vice-Dean, PhD & Research
4. Assoc Prof Ho Yew Kee Vice-Dean, Finance & Administration
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5. Prof Bernard Yeung Dean 6. Prof Teo Chung Piaw Acting Deputy Dean
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CADEMIC HEADS
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1. Assoc Prof Lee Yih Hwai Marketing
3. Assoc Prof James Ang Decision Sciences
5. Prof Richard Arvey Management & Organisation
2. Assoc Prof Alfred Loh Accounting
4. Prof Ivan Png Strategy & Policy
6. Prof Allaudeen Hameed Finance
MANAGEMENT TEAM
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ENTRE DIRECTORS
Centre for Strategic Leadership (CSL) 1. Prof Richard Arvey Director 2. Prof Audrey Tsui Executive Director
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MANAGEMENT TEAM
Centre for Governance, Institutions & Organisations (CGIO)
Asia Centre for Social Entrepreneurship & Philanthropy (ACSEP)
Centre for Asset Management Research & Investments (CAMRI)
3. Dr Marleen Dieleman Assoc Director & Senior Researcher
5. Assoc Prof Albert Teo Director
7. Prof Joseph Cherian Director
4. Prof Chang Sea-Jin Director
6. Assoc Prof Audrey Chia Co-Director
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DMINISTRATIVE DIRECTORS
1. Victor Koh Director, Development Office Interim Director, Global Alumni Network Office
3. Joan Tay Director, Career Services Director, Strategic Relations
5. Stuart Pallister* Director, Corporate Communications
7. Chua Nan Sze, Marie-Antonie Director, Graduate Studies (Executive MBA)
9. Nigel Yeung Director, Executive Education
2. Lim Yue Wen Director, Graduate Studies (MBA)
4. Dr Helen Chai Director, Undergraduate Studies
6. Phyllis Kum Deputy Director, Finance & Administration
8. Simon Woo Assoc Director, IT & Multimedia
10. Azmi Bin Salleh Senior Assoc Director, Facilities & Operations Support
*Joined NUS Business School in May 2011.
Deanery and Management appointments as at May 2011.
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C
ONTENTS
Leading from Asia 14 Bachelor of Business Administration & Bachelor of Business Administration (Accountancy) 16 Master of Business Administration 18 Executive Master of Business Administration & Master in Public Administration and Management 19 Executive Education 21 Outstanding Winners, Leading from Asia 25 A Year of Growth in Global Connections Research Powerhouse 27 Asia Centre for Social Entrepreneurship and Philanthropy (ACSEP) 29 Centre for Asset Management Research and Investments (CAMRI) 32 Centre for Governance, Institutions and Organisations (CGIO) 34 Centre for Strategic Leadership (CSL) Intellectual Intensity 37 Faculty Achievements 39 Selected Publications
Global Thought Leadership 41 Synergy of Ideas Compelling Community Engagements 45 46 48 50 52
Media Spotlight Career Services Alumni China Alumni & Community Engagements Generous Benefactors
Retrospective 54 NUS Business School Turns 45 The Mochtar Riady Building
eading
From Asia
NUS Business School offers a broad portfolio of programmes that are widely sought after for delivering the best of East and West in Business Management education, integrating Western knowledge with deep Asian insights to draw out the fullest potential in every student.
• Bachelor of Business Administration & Bachelor of Business Administration (Accountancy) • Master of Business Administration • Executive MBA & Master in Public Administration and Management • Executive Education • Outstanding Winners, Leading from Asia • A Year of Growth in Global Connections
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BA BACHELOR OF BUSINESS ADMINISTRATION & BACHELOR OF BUSINESS ADMINISTRATION (ACCOUNTANCY)
The best and brightest students continue to choose NUS Business School to lay a strong foundation for their future careers and equip themselves with real world competencies that will give them the critical edge for success.
Admission requirements to our undergraduate programmes for Academic Year 2010/11 were the highest in Singapore, making them the most selective accountancy and business undergraduate programmes in Singapore. The freshmen class consisted of 436 BBA and 176 BBA (Accountancy) students, resulting in a total undergraduate population of over 2,400. Our undergraduate programmes were the most favoured among qualifying students, with the highest cut-off rate of all ‘A’s for incoming A-level students and a Grade Point Average (GPA) of 3.81 for incoming Polytechnic students in our accountancy programme. To stay ahead, NUS Business School introduced a new BBA curriculum to provide broad-based, functional and specialised knowledge to our students and prepare them for diverse roles and
responsibilities in a fast-changing world. The refreshed syllabus incorporates modules on business analytics, entrepreneurship and leadership training, and enhanced modules on Asian business environment, management and organisation. NUS Business School students also took advantage of our broad range of academic tracks, augmenting their business studies with double degrees, concurrent degree, double majors and minor programmes that cut across faculties and disciplines to suit their interests and career goals. In addition to a rigorous curriculum, students also benefited from a host of lear ning opportunities, ranging from internships and participation in overseas exchange programmes, as well as local, regional, and international case competitions, to study missions, company visits and consulting practicums.
2010 Indicative Grade Profile (10th Percentile) A-level Grade
Programme Business Administration Business Administration (Accountancy)
AAA/B AAA/A Polytechnic
Programme Business Administration Business Administration (Accountancy)
Grade Point Average
3.73 3.81
More information can be found at www.nus.edu.sg/oam/gradeprofile/sprogramme-igp.html
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BBA undergraduates on the inaugural Study Trip for Engagement and Enrichment (STEER) with their peers from Zayed University in the United Arab Emirates.
NUS Business School-E50 Educational Project NUS Business School embarked on a collaborative learning programme with the organisers of the Enterprise 50 (E50) Awards. The awards recognise and reward 50 of the most dynamic small and medium-sized local enterprises across all industry sectors in Singapore.
Introduced in 2009, the E50 Educational Project is an exciting opportunity for NUS BBA students to enrich their understanding of the intricacies of real-world business management and operations. At the same time, the SMEs benefit from the fresh perspectives of the students. These collaborations also allow the more enterprising students to discover exciting opportunities in the SME sector and to apply their innovative ideas.
Students meet company chiefs and senior executives, and prepare profile and consulting reports. All the company profile reports have been published in The Business Times in the NUS Business School-E50 Series. The 2010 E50 project saw 66 NUS BBA students working closely with nearly all of the Enterprise 50 awardees. LEADING FROM ASIA
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BA MASTER OF BUSINESS ADMINISTRATION
The NUS MBA programme combines the best of global business training with a unique focus on the vibrant Asian region. Recognised globally, the NUS MBA is ranked 23rd in the Financial Times Global MBA Rankings 2011, the highest ever for a Singapore MBA. In its rankings of two-year programmes, Forbes ranks the NUS MBA top in Singapore and Asia, and fourth among business schools outside the United States.
Student diversity continues to be a hallmark of our MBA programmes. This is evident in our 2010 academic year student intake profile. More than 100 new full-time students, with some 90% from over 20 different countries, formed the freshmen batch, along with another 50 part-time students and 50 more comprising double-degree students and incoming exchange students hailing from 24 schools and 14 different nationalities. The school further boosted its diverse faculty with new academic staff holding PhDs from internationally-renowned universities, and with extensive industry experience. The industry-focused curriculum was also enhanced to ensure students obtain the necessary rigour, business discipline and innovative thinking to set them apart from other MBA students.
Additionally, our MBA students also opted for courses in other NUS faculties to pursue special interest topics such as computing, engineering, real estate and public policy. With the NUS launch of Asia’s first PhD-MBA programme, PhD students conducting cutting-edge research in science, engineering and medicine can also concurrently pursue the NUS MBA programme, while being mentored by researchers from NUS, A*STAR research institutes and top research centres in the US, UK, Europe, Japan, Australia and Asia. The rigours of academic study are balanced with other enriching activities such as participation in conferences and dialogues with global business leaders. These include the Consultant Unplugged series, an annual NUS MBA event that invites key players in the country’s consulting industry for a panel discussion on unfolding industry trends.
Panellists at the 2010 Consultant Unplugged series (from left) Mr Sam Wong, Director of Ernst & Young, Singapore; Mr Stephan Muench, Head of Asia Pacific, DHL Inhouse Consulting; Asst Prof Jayanth Narayanan, NUS Business School; Ms Jane Horan, Founder of The Horan Group; and Mr Steve Saxon, Engagement Manager of McKinsey & Company, Singapore.
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International Exposure Our extensive partnerships with leading international business schools provide many opportunities for our MBA students to participate in overseas immersion programmes, including semester exchanges to schools in Asia, Europe and the Americas.
Participants on a Paris study trip visited L’OrÊal and Danone, and networked with the school's MBA partners at HEC Paris and ESSEC Business School.
The NUS MBA exchange students came from 24 schools in 14 different countries.
The NUS MBA students also visit multinational corporations and financial institutions on their overseas study trips. Conversely, the NUS MBA Doing Business in Asia programme is widely sought after by foreign MBA students seeking an intensive Asia learning experience.
The NUS MBA Doing Business in Asia programme welcomed exchange students from New York University.
Participants on a study trip to China gained first-hand experience of business management and operations from large Chinese corporations.
The NUS MBA luncheon hosted about 250 freshmen and seniors from 37 countries including exchange students from the NUS MBA and CEMS Master in International Management programme.
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XECUTIVE MBA & MPAM
EXECUTIVE MASTER OF BUSINESS ADMINISTRATION & MASTER IN PUBLIC ADMINISTRATION AND MANAGEMENT
The NUS Asia-Pacific Executive MBA was ranked 27th EMBA worldwide by the Financial Times in 2010. Topping the list in the International Participants category for the second time running in the FT rankings, it was placed eighth and ninth respectively in the International Course Experience and Work Experience categories.
The NUS Executive MBA • Asia-Pacific Executive MBA (English | Chinese) • UCLA-NUS Executive MBA NUS Business School offers one of the region’s most established and highly-ranked Executive MBA programmes, with a global curriculum and a strategic focus on Asia-Pacific business. With an alumni network of over 1,100 senior executives globally, the NUS Executive MBA provides peer-to-peer learning and networking opportunities. This is further enhanced by the school's international faculty from some of the leading PhD programmes in the world. Its unique structure of meeting for an intensive two-week session once every three months in Singapore and other key Asian cities over 15 months provides an optimal learning platform for busy global executives with minimal disruptions to their careers.
Participants in the eighth intake of the UCLA-NUS Executive MBA programme.
The NUS Asia-Pacific Executive MBA, offered in both English and Chinese, will commence its 21st 18
LEADING FROM ASIA
intake in July 2012, while the UCLA–NUS Executive MBA, a prestigious double degree programme in collaboration with UCLA Anderson, will welcome its ninth intake in May 2012. Master in Public Administration and Management The Master in Public Administration and Management (MPAM) programme in Chinese is jointly offered with the Lee Kuan Yew School of Public Policy. In March 2011, we welcomed the second intake, comprising of 80 senior government officials and state-owned enterprise executives from over 18 provinces in China, and two candidates from Taiwan. MPAM students spend ten months to obtain an intensive, interdisciplinary course of study for experienced professionals looking to acquire new knowledge and skills to enhance their leadership and managerial capabilities. Beyond the classroom, students are also encouraged to attend talks by local and foreign dignitaries, and participate in overseas study missions and internships with local government and business organisations. Graduates of the programme are well-versed in both business and government, enabling them to capitalise on the convergence between the public and private sectors.
XECUTIVE EDUCATION Since the first Executive Education programme was introduced some 30 years ago, NUS Business School has helped businesses evolve, transform and stay ahead of the competition. More than 22,000 executives from over 80 countries have participated in our Executive Education programmes to gain the knowledge, as well as the practical skills to drive and grow their businesses.
Some 1,800 senior international executives from a wide range of industries registered for 77 Executive Education programmes conducted by NUS Business School in Financial Year 2010/11. These included 56 management development programmes tailored for 31 global corporations across the Asia-Pacific region. Of the 77 programmes offered,
26 were conducted in Chinese. Our broad portfolio of open enrolment and customised management programmes continues to grow, as the school widens its global connections and deepens established partnerships such as the International Management Programme with Stanford University.
Participants on the 30th Stanford University and NUS Business School International Management Programme.
NUS Business School is the first in Asia to equip executive participants with touch-screen tablets. The Apple iPads, introduced in the Advanced Management programme, are used for business case simulations, pre-programme learning and in-class collaborative sharing and research. In the months ahead, the school will extend the usage of the tablets to other Executive Education and Executive MBA degree programmes.
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Customised Executive Programmes 2010/11 English AES Emerging Leaders Alcatel-Lucent Behavioural Track Alcatel-Lucent Finance & Marketing Asahi Glass Company University Asia Astra General Management Bridgestone Regional Development Class Dentsu Senior Management DHL Emerging Leaders Kalbe General Management KUBS Global MBA Consumer Behaviour McIntire Doing Business in Asia Mitsui External Business Studies NHH EMBA Doing Business in Asia NUS Senior Management NYU Doing Business in Asia Panasonic Asia & Oceania Management Panasonic Global Executive Development Panasonic Management of Technology PERMIT Guo Ji Ri Bao
Sime Darby Core Executive Sime Darby Influencing Leadership Sime Darby Management Trainee UOB Wealth Management Chinese Baxter Advanced Hospital Management Chongqing Bank Advanced Bank Management Chongqing University Real Estate CNIGC Board of Supervisors Training Dalian Human Resource Management Dongguan Advanced Government Management Guangdong Bank Development Management Jiangsu Bank Banking Management Jiaying University Management Liuzhou Government Management Meizhou Advanced Economy Management Meizhou Advanced Government Nanhai Government Finance Back Office SCE-Dalian Integrated Economy Management
Board members of the China North Industries Group Corporation participated in the school’s corporate governance programme.
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Open Executive Programmes 2010/11 English Accounting & Finance for Non-Financial Managers Advanced Management General Management Leadership Development Negotiation & Influence Stanford-NUS Executive Programme in International Management Strategic Human Resource Management Strategic Management Chinese General Management Marketing Management Operations Management SME Series: General Management SME Series: Operations Management SME Series: Strategic Management
Participants in the first NUS Dentsu Senior Management programme.
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UTSTANDING WINNERS Leading from Asia
NUS Business School students excelled against the best in Asia and elsewhere in case competitions during the academic year. But they also proved themselves in other competitions.
Multi-medallist, Jasmine Ser
Jasmine Ser was named 'Sportswoman of the Year’ in Singapore after winning two gold medals and two silver medals in the air rifle events of the 2010 Commonwealth Games, setting a new games record of 501.7 in the 10m air rifle singles competition.
1 Ernst & Young Singapore Business Case Competition Choo Xin Yao, Ms Isabella Loh (Chairman of the Singapore Environment Council), Damien Goh, Wang Jiazhao and Lim Swee Keat
In the second East Asia Inter-Varsity Invitational English Debate Competition in 2010, NUS BBA student Kelvin Chong was named best speaker. He and his teammate Ashok Rai from the NUS Law and Economics programme emerged first runner-up. The competition was organised by Macau's Tertiary Education Services Centre.
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2 Copenhagen Business School Case Competition Assoc Prof Lau Geok Theng, Candice Lim, Tobias Chen, Caroline Ng and Peh Che Min
12th Annual Navigant-McIntire Case Competition Alvin Lim, Amanda Lai, Leonard Sin, Edwin Iskandar and Crystal Leung (Hong Kong University of Science & Technology) All names in captions are from left to right
Highlights of NUS Business School students' participation in competitions for the year: Competition
Award
Remarks
1 Ernst & Young Singapore Business Case Competition
Champion
Inaugural competition addressed sustainable practices and strategies
2 Copenhagen Business School Case Competition
Champion
NUS Business School is the only school in the competition's ten-year history to have won the championship twice - in 2005 and 2011
3 12th Annual Navigant-McIntire Case Competition
Champion
Focused on a brokerage firm assessing the exposure of its mutual fund trading business to regulatory breaches
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CaseIT 2011 Assoc Prof Pan Shan-Ling (NUS School of Computing), Joyce Kay, Lim Wei Yang and Ervin Lim
CFA-University Investment Research Competition Pang Junyi, Loo Li Yi Jasmine, Oh Sze Chiet Kris, Imelda Wongso and Wieta Anton Honoris
Carolina Challenge Ideas Competition Tseng Ching-Tse, Benjamin Pack, Malvin Foo and Philip Jones (University of North Carolina)
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7 6th International Chamber of Commerce International Mediation Competition Chia Xiao Feng, Oh Wei Yang Keith, Assoc Prof Ravi Chandran, Cai Chengying and Tobias Chen
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L'Attitude 1305' Suryadipta Dey, Vishal Narain Thulasidhar and Anukish Garg
9 33rd Inter-Collegiate Business Competition Chan Fun Ruey, Candice Lim and Vincent Low
All names in captions are from left to right
Competition
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Award
Remarks
4 Carolina Challenge Ideas Competition
Champion (preliminary round)
Business and social venture competition that identifies and supports outstanding entrepreneurial ventures
5 CFA-University Investment Research Competition
Champion (Singapore leg)
Promotes the practice of professional investment research among university students in Singapore
6 CaseIT 2011
2nd runner-up
The annual competition focuses on management information systems
7 6th Intenational Chamber of Commerce International Mediation Competition
Best advocating skills
A record 58 schools took part
8 L'Attitude 1305' by Great Lakes Institute of Management – Arthashastra
Runner-up
MBA students submitted an innovative ‘space solar power’ business plan in this annual online competition
9 33rd Inter-Collegiate Business Competition
2nd runner-up
Canada's longest-running premier undergraduate business case competition
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10 18th L'Oréal Brandstorm Jonathan Loh, Colin Jeremy Lim, Caroline Ng, Mdm Ho Geok Choo (Guest-of-Honour) and Mr Christopher Neo (Managing Director, L'Oréal Singapore)
Thomson Reuters Top Trader Derwin Chua
HKUST Citi International Case Competition Assoc Prof Tan Soo Jiuan, Yeow Xin Jie, Keith Lai Wei Xuan, Goh Aik Joon and Endi Asmira
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13 NUS-DBS International Case Competition Kwek Hsien Yao, Amelia Lee, Peh Che Min, Grace Lin and Assoc Prof Hum Sin Hoon (Vice-Dean, Undergraduate Studies)
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HSBC/McKinsey Business Case Competition Caroline Ng, Meryl Joan Lee, Assoc Prof Lau Geok Theng, Chan Fan Ruey and Tobias Chen
15 12th Inter-Collegiate Finance Competition
All names in captions are from left to right
Competition
Award
Remarks
10 18th L'Oréal Brandstorm
Champion (Singapore leg) and People’s Choice Award
Competing teams worked on a marketing plan for a range of hair care products for a fashion brand
11 Thomson Reuters Top Trader
Champion
Participants were given a £1 million ‘fantasy budget’ to build a market-beating portfolio
12 HKUST (Hong Kong University of Science and Technology) Citi International Case Competition
2nd runner-up
Only Asia-Pacific team to advance to the finals
13 NUS-DBS International Case Competition
2nd runner-up
NUS Business School's flagship international case competition
14 HSBC/McKinsey Business Case Competition
1st runner-up
Strategy and general management based case studies, including entrepreneurship, innovation, corporate sustainability and cultural diversity
15 12th Inter-Collegiate Finance Competition
5th place
Only foreign team to compete in Manila
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17 Peak Time Worldwide Competition Ooi Tong Wei, Ritchie Goenawan, Lock Hui Min and Lai Wai Kit
Audit & Accounting Challenge (front) Clarice Koh, Angeline Goh, Susanna Tang and Leo Wei Ling; (back) Darren Low, Tan Ruizhi, Alan Khor and Kelvin Chong
18 BizBuzz Tay Bo Heng Isaac, Phay Su Ing Valerie, Kay Chew Min Joyce and Hong Yuan Zhang
21 CaseIT 2010 May Yu, Assoc Prof Pan Shan-Ling (CaseIT 2010 Chairman), Stephen Lee, Mahesh Kumar (CaseIT 2010 Vice-Chairman), Lai Wai Kit and Sherry Goh
NUS Bachelor of Business Administration graduates in a moment of jubilation at the Commencement 2011 ceremony.
All names in captions are from left to right
Competition 16 Audit & Accounting Challenge
Award
Remarks
Champion
Inter-school competition organised by the Nanyang Business School Auditing and Assurance Team
1st runner-up 17 Peak Time Worldwide Competition 18 BizBuzz
Champion
Teams solve case studies and run a business using an online business simulation tool
Champion
Annual international business case competition organised by students from NUS Overseas Colleges
2nd runner-up
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19 NUS-Shell Business Case Competition
Champion
Students worked under pressure and time constraints to solve real-life business problems
20 Inter-School Budget Quiz Challenge
Champion
Inaugural quiz on economics, budget and public finance issues by the Ministry of Finance
21 CaseIT 2010
2nd runner-up
Case study on IBM Canada seeking to align itself to IBM's global IT strategies
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YEAR OF GROWTH IN GLOBAL CONNECTIONS
National University of Singapore signed a three-year Memorandum of Understanding with Santander Bank that will allow NUS, including NUS Business School, to have access to members of the Santander Universities network such as the University of California, Los Angeles (UCLA) and Boston University. (From left) Assoc Prof Hum Sin Hoon, Vice-Dean (Undergraduate Studies), NUS Business School; Prof Bernard Yeung, Dean, NUS Business School; Prof Tan Chorh Chuan, President, NUS; Mr Emilio Botin, Chairman, Santander Bank; Ms Ana Wang, Managing Director, Santander Universities Asia; and Mr Salvador Medina, Executive Vice-President, Santander Universities Global Division.
For the first time, the CEMS Executive Board Meeting was brought outside of Europe and held at NUS Business School, the first in Asia to be awarded full CEMS academic membership. The event coincided with the first networking event for CEMS corporate partners and alumni. CEMS, a strategic alliance of 75 global corporate partners and 26 world-class management schools, invites only one top institution from each country as an academic member. NUS Business School offers the CEMS Master’s in International Management (MIM) programme. Information sharing session attended by representatives from local and headquarter CEMS corporate partners, alumni working in Singapore, CEMS and NUS Business School colleagues, as well as CEMS and MSc (Mgt) students.
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R
esearch Powerhouse
Through our distinctive research centres, we cement our lead as Asia's Global Business School. They provide connectivity between practitioners and academics, and their activities showcase our unique capabilities, strengthening the reputation of our rigorous teaching programmes as being practical and relevant.
• Asia Centre for Social Entrepreneurship and Philanthropy (ACSEP) • Centre for Asset Management Research and Investments (CAMRI) • Centre for Governance, Institutions and Organisations (CGIO) • Centre for Strategic Leadership (CSL)
CSEP ASIA CENTRE FOR SOCIAL ENTREPRENEURSHIP AND PHILANTHROPY The Asia Centre for Social Entrepreneurship and Philanthropy aims to encourage businesses to advance, nurture and undertake activities with a social conscience. It plays a pivotal role in forging partnerships with advisors, practitioners and foundation heads from all over the globe.
In the past year, ACSEP has spearheaded more than 20 conferences, public lectures and symposiums, including NUS Business School’s first Philanthropic Speaker Series. The inaugural dialogue featured Dr Feng Lun, Chairman of the Beijing Vantone Group, and Founder and Chairman of the World Future Foundation, who shared his experience in balancing business development with social responsibility.
The emeritus professor explained that governments should ensure every child has a bank account at birth so everyone can secure themselves a better future. The conference was chaired by Prof Bhagwan Chowdhry NUS Business School Assoc Prof Lam Swee Sum who presented two papers on intergenerational philanthropy and venture capital practices for sound social investment.
Dr Feng Lun (left) with Prof Teo Chung Piaw
As a springboard for new ideas and ideologies, the centre held a Conference on Philanthropy at which the Financial Access at Birth Campaign was highlighted. It was presented by co-founder, Bhagwan Chowdhry, Professor of Finance and Faculty Director of the Master of Financial Engineering programme at University of California, Los Angeles (UCLA).
Mr Kamin Lertchaiprasert
During the Singapore Biennale 2011, ACSEP and the NUS Museum organised the Art Activism Symposium, showcasing four Asian artists championing socioeconomic changes through their work.
The artists were Mr Tisna Sanjaya from Indonesia, Ms Alma Quinto and Mr Mark Salvatus from the Philippines, and Mr Kamin Lertchaiprasert from Thailand.
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ACSEP and NUS Business Students Give Back • Together with social enterprise Give.sg, NUS Business School undergraduates staged ‘Style for a Cause’, a hair makeover marathon at The Heeren, in Singapore, as a fundraiser to benefit disadvantaged children and young people.
NUS Business School undergraduates at the Microfinance Forum.
At the Microfinance Forum, our undergraduates explored the challenges of adapting microfinance in Singapore. ACSEP organised the talk with ASKI (Alalay sa Kaunlaran, Inc.) Global, a sister company of a successful microfinance institution in the Philippines, whose Executive Director, Mr Rolando Victoria, shared some best practices regarding this growing lending programme. The past year also saw six social innovators from around the globe speaking at ACSEP’s In Conversation series, a platform to initiate dialogues between students and social entrepreneurs, social enterprises, philanthropists and philanthropic organisations. The series addresses fundamental and pressing social concerns to add real-world perspectives on the schooling of our future leaders in civic-mindedness.
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• ACSEP donated over 2,700 used books and journals on a wide range of topics including finance, psychology, statistics and marketing to the National University of Management in Cambodia.
• The MBA students and exchange students representing the school’s Social Impact Club visited the Philippines to meet officers from Gawad Kalinga, an international non-governmental organisation (NGO), to share their views on expanding the NGO’s initiatives in Singapore. • Undergraduates organised ‘Eat.Live.Love.Run!’, a non-competitive run at NUS, to raise funds in support of Gawad Kalinga’s efforts to build sustainable farms in the Philippines.
In Conversation with… Ms Casey Wilson on Microfinance Ms Wilson is the CEO and co-founder of Wokai, an online platform that enables contributors worldwide to support impoverished entrepreneurs in rural China.
Mr Sasa Vucinic on Investing in Media Mr Vucinic is the co-founder and Managing Director of Media Development Loan Fund, which supports independent media start-ups committed to socially-responsible journalism.
Mr John Anugraha on Sustainable Development Mr Anugraha is the founder of Global Citizens for Sustainable Development, a non-profit organisation based in Bangalore, India involved in youth volunteerism.
Dr Timothy Stanton on Service Learning Dr Stanton is the Director of Stanford University’s Bing Overseas Studies Programme in Cape Town, South Africa.
Ms Alexis Ditkowsky on Social Enterprise Models Ms Ditkowsky shared her experiences in marketing, digital media and online community-building programmes. She advocates microfinance projects as a Kiva Fellow.
Ms Joyce Djaelani Gordon on Drug Abuse and HIV/AIDS Ms Gordon is the founder of YAKITA, a non-profit drug treatment and recovery centre in Indonesia.
AMRI CENTRE FOR ASSET MANAGEMENT RESEARCH AND INVESTMENTS Innovation through research and thought leadership in the practice of asset management is at the core of the Centre for Asset Management Research and Investments. CAMRI is well equipped to help train students as money managers and research analysts.
Through the centre, NUS Business School promotes best practice in Asian institutional, sovereign wealth, and retail fund management and regulation. At the CAMRI Lab, students can work on real-time, simulated investments and portfolio management. The centre also facilitates student consulting practicums and engages faculty, academics, practitioners and scholars from around the globe in conferences, lectures and forums. At the centre’s inauguration on 7 April 2010, lectures were held on financial risk-taking, complex securities and inflation indexing. Guest speakers included Mr Alex Maddox, Managing Director of
Citadel London; Prof Chew Soo Hong from the NUS Department of E c o n o m i c s ; Prof Joseph Cherian, Director of CAMRI; and Mr Anthony Neoh, a senior member of the Hong Kong Bar, and Mr Anthony Neoh former chief advisor to the China Securities Regulatory Commission.
At the official launch of CAMRI (from left) Prof Tan Eng Chye, Deputy President (Academic Affairs) & Provost, NUS; Mr Andrew Kwek, CAMRI Board Member, Director & Chief Executive Officer, Deutsche Asset Management (Asia), DB Advisors; and Mr Lim Chuan Poh, Chairman, A*STAR.
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Academic Year 2010/11 saw the centre hosting 18 industry talks, many of which were open to the public. These events serve as a platform to further the understanding of investment behaviour in emerging regional markets, especially in the light of the recent global financial crisis.
Prof Stephen A Ross
At a CAMRI public lecture, Prof Stephen A Ross, a Franco Modigliani Professor of Financial Economics at MIT Sloan School of Management, shared his views on the root cause of the global downturn. CAMRI also kicked off NUS Business School’s first Applied Financial Seminar Series with a lecture on small-cap investing. Mr Robert Lewis CFA, Managing Director of Novatera Capital, provided the Asian context.
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Industry and academic leaders discussed new Asian legislation, regulation and stimulus packages at a CAMRI Roundtable, ‘The New Global
Financial Architecture and Financial Regulation: The Asian Context’.
Panellists at the CAMRI Roundtable (from left) Prof Gunter Dufey, Professor Emeritus at The University of Michigan Ross School, who moderated the roundtable; Prof Thomas Cooley, Paganelli-Bull Professor of Economics & Dean Emeritus at the Leonard N Stern School of Business; Mr Andrew Khoo, Assistant Managing Director (Policy, Risk & Surveillance) from the Monetary Authority of Singapore; Mr Anthony Neoh, former Chief Advisor to the China Securities Regulatory Commission and former Chairman of the Hong Kong Securities and Futures Commission.
At the Applied Research Forum in Asian Asset Management, organised with The Parker Center at Cornell University's Johnson School, panellists discussed financial regulation, liquidity and risk management, and investment opportunities in Asia. The forum drew an audience of over 100 academics, money managers and consultants.
Speakers at the NUS-Cornell Applied Research Forum (from left) Prof Ming Huang, Professor of Finance, Cornell University; Mr Peter Elston, Strategist, Aberdeen Asset Management; Ms Veronica Eng, Partner & Chairman, Asia, Permira Advisers; and Mr Daniel Chan, former Chief Executive Officer, Lion Global Investors.
Harnessing Fresh Talent NUS Asian MBA Stock Pitch Competition CAMRI also hosts an annual competition in which MBA students test their equity research and stock-picking skills. Students from top Asian universities undergo three gruelling rounds of buy/hold/sell recommendations and presentations. Students from the Indian School of Business, Hyderabad were crowned as 2010 champions. In second place was a team from the Australian Graduate School of Management, University of New South Wales.
Key Research Papers Inaugural GIC Essay Prize Competition The Government of Singapore Investment Corporation (GIC) challenged undergraduates to tackle the topic ‘Post-Financial Crisis: Key Lessons, Opportunities and Recommendations for Asia’s Institutional Investors’ and compete in the GIC Essay Prize 2010/11. Administered by CAMRI, and introduced in August 2010, the challenge aims to increase students’ interest in institutional asset management.
Portfolio Management and Liquidity Risk by Prof Joseph Cherian (CAMRI), Mr Sriketan Mahanti (Orissa Group Inc) and Prof Marti Subrahmanyam (New York University Stern School of Business) The research provides empirical evidence that a more refined version of a well-accepted measure of liquidity strongly validates the notion that liquidity affects both portfolio construction and risk management. Worry-Free Inflation Indexing for Sovereigns by Prof Zvi Bodie (Boston University), Prof Joseph Cherian (CAMRI) and Mr Wee Kang Chua (CAMRI) The researchers explored how small countries can provide local inflation index linked retirement products for their citizens and hence improve the functioning of their pension systems and the welfare of their retirees.
New Collaborations Two-year agreement for use of investment software
Mr Henry Fernandez (left), Chief Executive Officer and President of MSCI Barra, and Dean Prof Bernard Yeung signed a new partnership that will enable the NUS Business School community to access MSCI Barra’s risk and investment management tools at the CAMRI Lab.
NUS Business School extended its partnership with MSCI Barra, a leading global provider of investmentdecision support tools, with a new two-year agreement for the use of its risk management software modules. The state-of-the-art tools enable our students and researchers to conduct full-scale investment management research and analysis, and perform portfolio construction, backtesting, and risk management exercises at the CAMRI Lab. This new contract is in addition to the earlier ‘Barra on Campus’ agreement.
Partnership with the investment management industry CAMRI and the Investment Management Association of Singapore (IMAS) formed a strategic alliance to spearhead innovation and development in the investment management industry. IMAS will support CAMRI’s educational programmes, research activities and events, and provide endorsements for relevant CAMRI activities. CAMRI will open its events to IMAS members.
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GIO CENTRE FOR GOVERNANCE, INSTITUTIONS AND ORGANISATIONS Good governance is critical for any high-performing economy, whether in Asia or elsewhere. NUS Business School established the Centre for Governance, Institutions and Organisations to spearhead efforts to generate intellectual leadership and enhance the practical relevance of the ‘Asian model of governance’ for businesses and governments in the region.
The centre has several key objectives: conduct high-quality, interdisciplinary academic research; develop industry-related training; and produce surveys, case studies and indices for publication. CGIO’s research facility encompasses five units, namely Family Business, Corporate Governance, Legal and Institutional Developments, Business Groups, and Government-Linked Companies. While focused on the study of Asian corporate governance, institutions and organisations, the units also oversee wide-ranging research in the fields of accounting, strategy and policy, finance, and management. At the centre's official launch in July 2011, the CGIO held a forum that tackled the Asian model of governance. Keynote speaker Prof Huang Yasheng
Forum speakers during the centre’s official launch with key NUS Business School personalities.
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from the Sloan School of Management at Massachusetts Institute of Technology shared his analysis of China’s rapid economic growth over the past three decades.
Guests at the CGIO official launch included (from left) Prof Huang Yasheng, Dean Prof Bernard Yeung, Mr S Dhanabalan and Mr Tan Soo Jin.
The centre’s research programmes also incorporate conferences and talks where analysts present case studies and findings. Among them was the Governance of Industrial Foundations Public Seminar with Prof Steen Thomsen, Director of the Centre for Corporate Governance at Copenhagen Business School (CBS). His study covered the governance mechanisms, or lack thereof, of firms in Northern Europe that own private foundations. It is a business structure that is becoming popular among family businesses in Asia.
Also on the subject of Asian family businesses, the CGIO co-organised the Asian Family Business Roundtable where a select group of industry leaders from Indonesia, Malaysia, Singapore and Thailand discussed the challenges faced by second generation business chiefs.
CGIO Public Lectures • Trade and Poverty: When the Third World Fell Behind presented by Prof Jeffrey Williamson, Laird Bell Professor of Economics from Harvard University and Honorary Fellow of the Department of Economics at University of Wisconsin-Madison. • Government-Business Relations and RentSeeking in China presented by CGIO’s first distinguished academic visitor, Prof Ngo Tak-Wing from Erasmus University Rotterdam.
• Corporate Governance: Asian versus Western Perspective presented by Mr Anthony Neoh, former Chief Advisor, China Securities Regulatory Commission, and former Chairman, Hong Kong Securities and Futures Commission; and Prof Randall Morck, who holds a Stephen A. Jarislowsky Distinguished Chair in Finance, University of Alberta. This lecture was organised in partnership with the Centre for Asset Management Research and Investments (CAMRI).
Governance and Transparency Index Launched
Toasting the success of the Asian Family Business Roundtable are (from left) Prof Chang Sea-Jin, Director, CGIO; Mr Sukanto Tanoto, Founder, Chairman & CEO, Royal Golden Eagle Group; and Dean Prof Bernard Yeung.
CGIO and The Business Times jointly launched the Governance and Transparency Index (GTI). The index, sponsored by CPA Australia and supported by the Investment Management Association of Singapore, ranks Singapore-listed companies on their compliance with the Singapore Code of Corporate Governance.
The GTI awards companies a maximum of 75 and 25 points on governance and transparency (including investor relations), respectively. Companies may also gain "bonus and penalty" points. Into its fourth issue, the GTI serves as a health check for companies that see corporate governance as a key element in business confidence.
A key talking point was the internationalisation of Asian family firms, as presented by Prof Michael Carney from Concordia University and Dr Marleen Dieleman from NUS Business School. The high-profile event was organised with the Chinese University of Hong Kong, Concordia University, Family Business Network Pacific Asia and INSEAD.
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SL CENTRE FOR STRATEGIC LEADERSHIP As Asian economies play an increasingly important role globally, business strategies are being re-assessed and developed. The NUS Business School Centre for Strategic Leadership is pioneering research on the leadership values and competencies deemed critical in building visions and shaping strategies for Asia’s growth.
Asian economic growth and the region’s diverse political, economic and socio-cultural settings are now - more than ever - challenging fundamental business philosophies and practices. The newly-established Centre for Strategic Leadership (CSL) is leveraging the strengths of NUS Business School’s international faculty, global partnerships, state-of-the-art facilities and central location in Asia to bridge knowledge gaps in the region’s changing economic landscape. In its first year, CSL initiated research, roundtable talks with corporate chiefs, and executive leadership dialogues, many of which are conducted in Chinese.
NUS Business School officially launched the centre with a landmark CEO Roundtable. The first in the series, chaired by Dean Prof Bernard Yeung, brought together government officials, senior managers and academics to explore regional trends with three prominent industry chiefs. Mr Michael Zink, Country Head of Citi Singapore, Citigroup, headed a discussion on how emerging regional markets are helping to generate growth globally. Mr Praveen P Kadle, Managing Director and CEO of Tata Capital, tackled business opportunities and challenges in South Asia. Mr Charles Tseng, President, Asia Pacific of Korn/ Ferry International, spoke about the war for talent.
(From left) Mr Charles Tseng, President, Asia Pacific, Korn/Ferry International; Mr Michael Zink, Country Head & Citi Country Officer of Singapore, Citigroup; Dean Prof Bernard Yeung; and Mr Praveen P Kadle, Managing Director & CEO, Tata Capital.
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T h e c e n t re a l s o s t a g e d i t s E x e c u t i v e Dialogue Series.
engagement is imperative in achieving business sustainability in China.
A session on ‘Building Resilience at Work’ provided fresh insights from India and China, and a work-life balance strategy set in place at Procter & Gamble (P&G).
CSL’s second Executive Dialogue session studied blueprints for ‘Asian Leaders of Tomorrow’.
(From left) Assoc Prof Vivien Lim, NUS Business School; Prof Audrey Tsui, Executive Director of the Centre for Strategic Leadership; Dr Shyam Pingle, Vice President, Medical and Occupational Health Services, Reliance Industries; and Dr Cherryl J Christensen, Corporate Medical Director, Procter & Gamble.
Dr Cherryl J Christensen, P&G’s Corporate Medical Director, introduced the conglomerate’s health and wellness programme as an effective means of enhancing staff performance. Dr Shyam Pingle, Vice President, Medical and Occupational Health Services, Reliance Industries, spoke about the need for change agents, while CSL Executive Director, Prof Audrey Tsui explained why employee
Concluding the dialogue, Mr Paul Lim, Director of the Centre for Leadership Development, Civil Service College, detailed the intricacies of economic policymaking faced by Singapore public servants today.
Mr Indranil Roy, Managing Director (Asia Pacific) of Leadership and Talent Consulting at Korn/Ferry International, urged business leaders to adopt a new ‘Asia 2.0’ growth model in managing today’s major shifts in the market as innovation and creativity become increasingly important in the region. Dr Andreas Pazi Raharso, Dean of the Global R&D Centre for Strategy Execution at Hay Group, challenged the audience to embrace the concept of diversity in experiences to conquer uncertainties in a global market.
Mr Indranil Roy explaining a new Asian growth model.
Dr Andreas Pazi Raharso emphasising the importance of cross-spectrum exposure to create global leaders.
Mr Paul Lim sharing insights on developing future leaders in the Singapore public service.
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ntellectual Intensity
As a leading business school in Asia, we continue to pursue knowledge development with passion to maintain our rigorous, world-class thought leadership that advances research and teaching. By fully utilising our extensive resources, we create an environment high in intellectual intensity.
• Faculty Achievements • In the Spotlight • Selected Publications
ACULTY
Formerly the Department of Business Administration, NUS Business School is now an institution with a range of departments and academic centres, and more than 130 faculty members.
Outstanding Educator Award 2010/11
Distinguished Scientific Contribution Award
Through its research and teaching, NUS Business School offers global knowledge with deep Asian insights, and our thought leadership aims to promote transformational change in business and academia. Our faculty members bring diverse experience as scholars, professionals and researchers into the classroom to forge a dynamic learning environment.
Prof Richard Arvey
Over the years, the faculty, who have produced highlycited papers in leading journals, have been honoured with numerous achievement and academic awards. Featured here are some highlights for the year.
Prof Richard Arvey, Head, Department of Management & Organisation, was honoured by the Society for Industrial and Organizational Psychology, a division of the American Psychological Association, for his scientific contributions in the field of industrial and organisational psychology.
• Assoc Prof Hum Sin Hoon (Decision Sciences), Vice-Dean, Undergraduate Studies • Dr Winston Kwok (Accounting) Outstanding Researcher Award 2010/11 • Asst Prof Edmund Keung (Accounting) • Asst Prof Iris Hung (Marketing)
Research Achievements Faculty Member(s)
Award
Paper / Project
Prof Duan Jin-Chuan (Finance)
Best Paper Award
‘Multiperiod corporate default prediction – A forward intensity approach’ (co-authored with PhD student Wang Tao and Sun Jie from NUS Risk Management Institute)
Assoc Prof Jochen Wirtz and Dr Tambyah Siok Kuan (Marketing)
Emerald Literati Club Highly Commended Award for Excellence
‘Organizational learning from customer feedback received by service employees: A social capital perspective’, Journal of Service Management
Emerald Literati Club Highly Commended Award for Excellence
‘Emotion display rules at work in the global service economy: the special case of the customer’, Journal of Service Management
Outstanding Reviewer
Journal of Service Management
Best Paper Award
‘The Good News in Short Interest’, Journal of Financial Economics (co-authored with Prof Ekkehart Boehmer and Bradford D. Jordan)
Assoc Prof Jochen Wirtz (Marketing)
Asst Prof Zsuzsa Huszar (Finance)
Conference / Awarding Body 2010 National Taiwan University International Conference on Finance
Emerald Literati Club
Fama* – DFA (Dimensional Fund Advisors) *Named after advisory editor of the Journal of Financial Economics, Eugene F. Fama
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The Business Times, 19 April 2010
In the Spotlight Genetic Research featured in The Economist The work of three faculty members from the Department of Management & Organisation was featured in a three-page article headlined ‘Homo administrans’. It covered the study of Department Head, Prof Richard Arvey, which suggests that businesswomen are born, and cited Asst Prof Song Zhaoli’s DNA analysis of the relationship between genes and work-related variables. Dr Michael Zyphur, a former faculty member, was acknowledged for his studies on hormone behaviour.
The Economist, 23 September 2010 issue
The Straits Times, 13 May 2010
‘Ask NUS Economists’ in The Straits Times Faculty members from the Department of Strategy & Policy gave insights on queries relating to domestic and inter national economics posted by readers.
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‘Ask NUS Profs’ in The Business Times In Academic Year 2010/11, this weekly column offered advice on a variety of issues on business strategy, marketing, financial management, human resource management, accounting procedures, regional expansion and intellectual property, amongst others, in consultation with Assoc Prof Ang Swee Hoon from the Department of Marketing.
SELECTED PUBLICATIONS – April 2010 to March 2011 ACCOUNTING Edmund Keung, "Do Supplementary Sales Forecasts Increase the Credibility of Analysts’ Earnings Forecasts?". The Accounting Review 85, no. 6 (2010): 2047-2074. (United States). Edmund Keung, Z. Lin, and M. Shih, "Does the Stock Market See a Zero or Small Positive Earnings Surprise as a Red Flag?". Journal of Accounting Research, 48, no. 1 (2010): 105-135. (United States). Luo Shuqing, Mei Feng, Ge Weili and Terry Shevlin, "Why do CFOs Become Involved in Material Accounting Manipulations?". Journal of Accounting and Economics, 2011.
Tier 1 Journal Articles
Boehmer E, Zsuzsa R. Huszar and B D Jordan, "The Good News in Short Interest". Journal of Financial Economics, 96, no. 1 (2010): 80-97. (Switzerland). Bruche, M and Naqvi, Hassan, "A Structural Model of Debt Pricing with Creditor-Determined Liquidation". Journal of Economic Dynamic & Control, 34 (2010): 951-967. (Netherlands). Chemmanur T, G Hu and Huang Jiekun, "The Role of Institutional Investors in Initial Public Offerings". Review of Financial Studies, 23 (2010): 4496-4540. (United States).
Books
Koh William, Making Prints on Cement: The Cherie Hearts Success Story, Singapore: Cengage Learning Asia Pte Ltd, 2011. 200 pp. Tan Chwee Huat, Human Capital Management in Singapore, Singapore: Singapore Human Resources Institute, 2010. 132 pp. MARKETING Chu Junhong and Chintagunta P, "An Empirical Test of Warranty Theories in the US Server and Automobile Markets". Journal of Marketing, 75, no. 2 (2011): 75-92. (United States).
Kwok Winston, Financial Accounting: Information for Decisions IFRS, Singapore: McGraw-Hill, 2010. 600 pp. (Textbook).
Edelstein B, Qian Wenlan and D Tsang, "How do Institutional Factors Affect Real Estate Returns?". Journal of Real Estate Finance and Economics, 43, no. 1 (2011): 130-151. (Netherlands).
Lee, Yih Hwai and Lim A C E, "When Good Cheer Goes Unrequited: The Moderating Role of Consumer Emotional Receptivity". Journal of Marketing Research, 47, no. 6 (December 2010): 1151-1161. (United States).
DECISION SCIENCES Chen Gongtao and Gavirneni S, "Using Scheduled Ordering to Improve the Performance of Distribution Supply Chains". Management Science, 56, no. 9 (2010). (United States).
Zhang M and Deng Yongheng, "Is the Mean Return of Hotel Real Estate Stocks Apt to Overreact to Past Performance?". Journal of Real Estate Finance and Economics, 40, no. 4 (2010): 497-543. (Netherlands).
Lim Wei Shi and Soo Jiuan Tan, "Outsourcing Suppliers as Downstream Competitors: Biting the Hand that Feeds". European Journal of Operational Research, 203, no. 2 (2010): 360-369. (Netherlands).
Chen W, Sim Melvyn, Sun Jie and Teo Chung Piaw, "From CVaR to Uncertainty Set: Implications in Joint Chance Constrained Optimization". Operations Research, 58, no. 2 (2010): 470-485. (United States).
Zhu Y, S E Ong and Yeo Wee Yong, "Do REITs Manipulate Their Financial Results around Seasoned Equity Offerings? Evidence from US Equity REITs.". Journal of Real Estate Finance and Economics, 40, no. 4 (Special Issue on APRU Real Estate Research Symposium 2008) (2010). (Netherlands).
Li Xiuping, W Liyuan and D Soman, "Sealing the Emotions Genie: The Effects of Physical Enclosure on Psychological Closure". Psychological Science, 21 (August 2010): 1047-1050. (United States).
Goh W J and Sim Melvyn, "Distributionally Robust Optimization and its Tractable Approximations". Operations Research, 58, no. 4 (2010): 902-917. (United States). Mabel C. Chou, Geoffrey A. Chua, Chung-Piaw Teo and Huan Zheng, "Design for Process Flexibility: Efficiency of the Long Chains and Sparse Structure". Operations Research, 58, 43-58, 2010. See C T and Sim Melvyn, "Robust Approximation to Multi-Period Inventory Management,". Operations Research, 58, no. 3 (2010): 583-594. (United States). Stevenson, W J and Sum Chee Chuong, Operations Management: An Asian Perspective, Singapore: McGraw-Hill, 2010. 859 pp. FINANCE An X, J Clapp and Deng Yongheng, "Omitted Mobility Characteristics and Property Market Dynamics: Application to Mortgage Termination,". Journal of Real Estate Finance and Economics, 41, no. 3 (2010): 245-271. (Netherlands).
Ng, K K, Zhang Weina, Maran Marimuthu and Sandeep Bhattacharya, Financial Management, Oxford Fajar Sdn. Bhd.: Oxford University Press, 2010. 422 pp. MANAGEMENT & ORGANISATION Ballinger, G A, Lehman D W and Schoorman F D, "Leader-member Exchange and Turnover Before and After Succession Events". Organizational Behavior and Human Decision Processes, 113 (2010): 25-36. (United States). Haas, M and Park Sangchan, "To Share or Not to Share? Professional Norms, Reference Groups, and Information Withholding Among Life Scientists". Organization Science, 21, no. 4 (2010): 873-891. (United States). Song Zhaoli, Foo M, Uy M and Sun S, "Unraveling the Daily Stress Crossover Between the Employed and Their Employed Spouses". Journal of Applied Psychology, 96, no. 1 (2011): 151-168. (United States).
STRATEGY & POLICY Lan Luh Luh and Heracleous L, "Rethinking Agency Theory: The View from Law". Academy of Management Review, 35, no. 2 (2010): 294-314. (United States). Lim, Ma .Hui, and Lim Chin, "Nowhere to Hide: The Great Financial Crisis and Challenges to Asia", Singapore: Institute of South East Asian Studies, 2010, 174 pp. Tay Catherine and Au Eong K G, Medico-legal and Ethical Issues in Eye Care: Case Scenarios for Optometrists, Opticians, Ophthalmologists and Family Physicians, Singapore: McGrawHill Education (Asia), 2010. 209 pp. Tay Catherine and Tay L, Medico-legal and Ethical Issues in Cardiology and General Medicine: Case Scenarios, Singapore: McGraw-Hill Education (Asia), 2010. 162 pp. Tay Catherine and Tien S L, Biomedical Ethics and Medical Law in Blood Transfusion Practice: Case Scenarios, Singapore: Armour Publishing Pte Ltd, 2010. 154 pp.
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lobal
Thought Leadership The school’s collaboration with international academics and renowned industry leaders continues to grow in strength and impact. Our insightful conferences, forums and dialogues serve as platforms for global knowledge transfer that keeps the business community up to date with the latest industry trends.
YNERGY OF IDEAS
As Asia's Global Business School, our research and teaching keep us abreast of the issues of the day and the needs of tomorrow. With our investment in research, as well as growing partnerships with the international academic community, and a legion of future leaders populating our classrooms, the school represents a fertile environment, which allows for the exchange of global knowledge.
In a world of constant change, and in the wake of the global financial meltdown, business leaders are asking new questions and the school is helping to provide new answers. Tolani-ISAS-NUS Business School Public Lecture Acting as a bridge between academics and business – theory and practice – the school staged forums
and seminars over the year. One such example was a tripartite event between Tolani Education, the Institute of South Asian Studies (ISAS) and NUS Business School. This featured guest speaker Prof Eswar Prasad, Tolani Senior Professor of Trade Policy at Cornell University, discussing the state of emerging markets, the possible resurgence of global imbalances, and the fate of the US dollar.
Prof Eswar Prasad (left) with Dean Prof Bernard Yeung addressing questions from the audience during the Q&A session.
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Another channel of engagement is the Leadership Dialogue Series. Between April 2010 and May 2011, the school organised five dialogue sessions, covering topics from entrepreneurship to ethics. In creating an environment high in intellectual intensity, the school engages the business community in panel discussions that contribute to public debate, influence teaching and education, and enrich our understanding of major industry developments. These include the NUS Business School – The Business Times CEO Luncheon Series and the Senior Leadership Breakfast Forum.
(From left) Prof Duan Jin-Chuan, Risk Management Institute and Cycle & Carriage Professor of Finance at NUS Business School; Mr Manu Bhaskaran, CEO, Centennial Asia Advisors; and Mr Vikram Khanna, Associate Editor, The Business Times, tackling the question, ‘What Lies Ahead for the Asian & Global Markets?’.
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The Senior Leadership Breakfast Forum brought together thought leaders in corporate social responsibility and sustainability, namely (from left) Mr Jonathan Auerbach, Managing Partner, McKinsey & Co. Southeast Asia; Mr Martin Geh, Managing Director, Logitech Asia Pacific & Japan; Adjunct Prof Sheila Wang, NUS Business School, who chaired the forum; Dr Steve Ting, former Executive Chairman & Director, British Telecom Frontline Southeast Asia; and Dr Robert Yap, Chairman & CEO, YCH Group.
Leading from Asia, the school tailors these discussions with a strong Asia-centric approach. The NUS Asian Business Series, a platform that showcases Asian thought leadership from the business luminaries of Asia, was launched with speaker Mr Mitoji Yabunaka, Advisor of Nomura Research Institute and Japan’s former Vice Minister for Foreign Affairs.
A three million dollar gift from the Chairman of the United Overseas Bank, Dr Wee Cho Yaw and his family, also helped establish the Wee Cho Yaw Singapore-China Finance and Banking Forum. Jointly organised by NUS Business School and NUS Global Asia Institute, the forum featured Executive Vice President and Deputy Chief Operation Officer of China Investment Corporation, Mr Fan Yifei as keynote speaker.
Mr Mitoji Yabunaka at the inaugural session of the NUS Asian Business Series.
Mr Fan Yifei speaking on the topic, ‘China: The New Global Growth Engine or The Next Global Bubble?’.
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Leadership Dialogue Series 1
Singapore Exchange – The Asian Gateway Mr Magnus Böcker, Chief Executive Officer of the Singapore Exchange (SGX), spoke about the milestones that shaped SGX into Asia’s second-largest listed exchange.
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Repositioning Singapore’s Economy for the Future Dr Beh Swan Gin, Managing Director of the Economic Development Board (EDB), spoke of building a Singapore that will be a home for business, innovation and talent in the years ahead.
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Journey on the Path of the Righteous Crane – Modernising a Traditional Business Mr Richard Eu, Group Chief Executive Officer of Eu Yan Sang Group, spoke about how the family business never lost sight of its traditional values, staying committed to ethical practices, and maintaining the quality of its products in a changing market.
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Business Ethics in the Financial Industry Mr Keizo Ohashi, Managing Executive Officer and Head of Asia and Oceania at Mizuho Corporate Bank, Ltd, emphasised the importance of self-regulating organisations, and enlightened students about some ethical dilemmas that young bankers will ultimately face.
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An ‘Easy’ Approach to Leadership? Sir Stelios Haji-Ioannou, Chairman and Founder of easyGroup, outlined to students how his low-cost airline easyJet was able to succeed in a highly competitive environment.
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ompelling
Community Engagements Through a variety of channels such as industry partnerships, the school’s alumni networks and media outreach, NUS Business School is extending its influence in the community and beyond.
• Media Spotlight • Career Services • Alumni • China Alumni & Community Engagements • Generous Benefactors
EDIA SPOTLIGHT NUS Business School continues to attract media attention. In addition to carrying news items about the school, the media also carried content generated by the school such as faculty research and commentaries, ‘Enterprise 50’ articles written by our students, as well as the weekly ‘Ask NUS Profs’ and ‘Ask NUS Economists’ columns published in The Business Times and The Straits Times, respectively. In the 12 months to July 2011, there were 600 local and international media reports, or 50 monthly write-ups providing a rich profile of the school’s many initiatives and activities.
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AREER SERVICES NUS Business School provides a dynamic networking platform that matches the talent of our students with leading employers from banks, multinational corporations and major organisations from a wide range of industries. By bringing together students and corporate recruiters, we help enhance students’ employability, giving them an edge in forging winning careers amid today’s competitive employment market.
MBA graduate employment rate scores highly
BBA graduate employment rate soars; gross salary increases seen
Some 93% of MBA graduates were employed within three months of graduation. This indicates that our MBA graduates command a premium in the business community, with 58% securing employment in Singapore and 42% landing jobs in other parts of Asia and the world over.
Our inaugural batch of Business Administration (Accountancy) Honours graduates achieved 100% full-time employment, based on the 2010 Graduate Employment Survey (GES) released by the Ministry of Education. This is an affirmation by the industry of the quality of our business graduates who have secured employment ahead of their peers.
The NUS MBA graduate employment by industry Advertising 4% Education 4%
Pharmaceutical 2%
Manufacturing 6%
Co Go nsum ods er 6%
Financial Services 40% Energy, Oil & Gas 8% & n o y i log cat no ni ch mu e T om 3% lec 1 Consulting Te Services 17%
Equally impressive, our Business Administration graduates in the three-year programme were offered higher gross monthly salary rates across all categories – mean, median, 25th percentile and 75th percentile – a marked improvement, compared to the 2009 GES. Their mean starting salary went up by 12.36% to $3,008.
Career Empowerment Career development workshops More than 80 career development workshops were organised to enhance the students’ profiles and help them breeze through job interviews
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or internships. Highly-regarded practitioners with extensive industry experience were engaged to conduct the workshops, including
one-on-one interview coaching clinics, Ace the Finance Interview, Crack the Case, the Assessment Centre, industry-specific workshops on fund management, brand marketing, and management presentation and communication. Internships and company outreach All BBA accountancy students were placed with the ‘Big Four’ and other accounting firms for their mandatory internships. Up to 91% of BBA undergraduates did internships although this is not a compulsory academic requirement. In addition, 100% of our MBA interning cohort secured internships during their summer vacation in 2010. Visits to P&G, Yahoo!, Société Générale and OCBC Bank were also organised. These outreach programmes with multinationals give students direct access to business managers and the opportunity to gain a better understanding and appreciation of the corporate cultures of different companies. Active campus recruitment initiatives Career Services hosted more than 130 recruitment presentations, networking sessions and career events by large MNCs, global banks and consulting firms, both on and off campus.
Excellence Award for Career Services NUS Business School Career Services was singled out from about 70 entries from 32 companies in 10 countries to receive the Excellence Award in the Innovative Corporate Communications category of the Asian Publishing Awards 2010 held in July in Ho Chi Minh City, Vietnam. The award recognises the efforts of Career Services in actively reaching out to both corporate partners and students on recruitment initiatives.
Ms Joan Tay, Director of Career Services receiving the Excellence Award in the Innovative Corporate Communications category from Dr Frank Cintamani, President & Chairman, Magazine Publishers Association of Singapore.
Partnerships between corporate recruiters and students Relazione – networking event for undergraduates Our BBA graduating students networked with around 100 recruiters across various industries at the annual Relazione networking event. The event provides a good platform for students to network with a variety of companies, and for recruiters to assess their suitability before taking their applications forward. Undergraduates engaging Ms Gina Shin (left) from Campus Recruitment, Human Resources at Morgan Stanley, at the Relazione networking event.
Connexions – networking events for MBA students Similarly, we also organised two Connexions events for more than 135 MBA students to network with corporate recruiters representing 50 organisations across a range of industries. The students were able to gain insights into a variety of industries, organisational cultures and job opportunities.
Assoc Prof Quek Ser Aik (extreme right), then Vice Dean of Graduate Studies, and Ms Joan Tay (second from right), Director of Career Services, with representatives from Goldman Sachs.
MBA students meeting potential employers at the Connexions networking event.
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2010 Eminent Business Alumni Award Winners
LUMNI At NUS Business School, our network of more than 45,000 alumni spans five continents. Our Global Alumni Network Office (GANO), the school’s office in Shanghai, and our local and overseas chapters, help to keep alumni connected with each other and with the school.
Award recipients (standing, from left) Mr Lam Kwong Yu, Mr Paul Yap Beng Huat, Mr Robin Ng Chee Chuan, Mr Chew Hua Seng, Ms Chua Sock Koong, Mr Laurence Lien and Mr Huynh Quang Hai. (Seated, from left) Mr Aw Beng Teck, former Director, GANO; Dr William Chung, President, Mandarin Alumni; Mr Peter Seah, Chairman, DBS; Mr S Dhanabalan, Chairman, Temasek Holdings; Prof Bernard Yeung, Dean, NUS Business School; Mr Benny Lee, President, NUS Business School Alumni Association; and Mr Malcolm Koh, Immediate Past President, MBA Alumni – NUS.
Senior Alumni Category
Young Alumni Category
Alumni Service Category
• Chew Hua Seng Chairman & CEO, Raffles Education BBA,1979
• Huynh Quang Hai Group Executive Director & CEO, V ietnam-Singapore Industrial Park North MSc (Management of Technology), 2000 & Graduate Diploma in Business Administration, 1999
• Robin Ng Chee Chuan Past President, NUS Business School Mandarin Alumni and Chairman, Sin Thai Hin Group of Companies Executive Programme, 1981
• Chua Sock Koong Group CEO, SingTel BAcc (Hons), 1979 • Lam Kwong Yu Chairman & CEO, Starlite Holdings APEX-C MBA, 2004
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• Laurence Lien CEO, National Volunteer and Philanthropy Centre MBA, 2000
• Paul Yap Beng Huat Past President, MBA Alumni-NUS and Consultant, Ideaction BBA, 1973 & MBA, 1985
Mandarin Management Forums NUS Business School, through its Mandarin Alumni Association, conducts Mandarin Management Forums, which promote the exchange of knowledge among Chinese business leaders.
‘Leadership Challenges in the New Economy’ Three eminent Chinese businessmen addressed the implications of rapid growth and consumer demand for leadership styles.
Alumni Gatherings Inaugural Global Alumni Summit in Bali, Indonesia The Global Alumni Network Office and the Jakarta Alumni Chapter organised a summit for alumni, academics and industry experts to discuss developments in the regional markets such as cross-border investment opportunities. Alumni Homecoming Conference Among the school’s 45th Anniversary Celebrations was the 2010 Homecoming Conference that featured talks on investment strategies in the light of the global market recovery.
‘Crushed by the Titans?’ Mr Andrew Tjioe, Executive Chairman of Tung Lok Restaurants, discussed how constant innovation transformed Tung Lok into a leading Chinese restaurant chain in the region.
Other Highlights • Business School Gives Back • Golf Reunion Challenge • Hong Kong Alumni Chapter Launch • Indian Leadership in the 21st Century, Bangalore • Healthcare Reform Forum, Kuala Lumpur • MBA Class of 2007 Reunion • Alumni Appreciation Dinner • BBA Class of 1981 30th Anniversary • Adidas Bizad Charity Run
Similarly, Mr Tan Jin Heng (APEX-C MBA 2001), Executive Director of CNA-HTE Vietnam, shared his thoughts on transforming his company into one of the leading engineering contractors in Vietnam. Key personalities at the forum included (from left) Mr Yang Jinfu (APEX-C MBA 2009), Managing Director of Kruger Asia Holding; Mr K K Fong, Founder and Group CEO/ Executive Director of Xpress Holdings; Prof Audrey Tsui; and Mr Jin Hua (APEX-C MBA 2008), Chairman of Nantong Eastern Petrochemical Storage.
19th CEO Unplugged Mr Andrew Tjioe (left) with Mr Tan Jin Heng
‘Managing Cross Cultural Talent for Innovation and Productivity Gains’ Four speakers shared their insights into how companies can leverage the ideas of diverse cultural talents to maximise innovation and yield.
The CEO Unplugged series, organised by the NUS Business School Alumni Association and Bizad Club, promotes the exchange of views between students and business leaders. Based on a talk-show format, the 19th edition of the dialogue series, featured the insights of the CEOs of two innovative mobile media providers in Singapore.
The Adidas Bizad Charity Run organised by the NUS Business School Alumni Association (NUSBSA), Bizad Club and Masters Club, raised $30,000.
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HINA ALUMNI & COMMUNITY ENGAGEMENTS
Gobi Desert Challenge NUS Executive MBA alumni, faculty and staff took part in the 6th Gobi Desert Challenge in Gansu where they came in 10th among 18 local and international business schools.
NUS Business School’s office in Shanghai brings together alumni and industry executives across China. With alumni networks in northern, eastern and southern China, the office also facilitates the creation of alumni chapters to bolster stronger ties between graduates and the school.
Participants of the 6th Gobi Desert Challenge celebrating their teamwork.
NUS MBA/EMBA Fair At an MBA/EMBA education fair in Shanghai, the school organised a series of presentations including one by Prof Deng Yongheng, Professor of Finance and Director of the NUS Real Estate Institute, on the development of the real estate sector in China. He Prof Deng Yongheng also revisited the global financial crisis and the concerns about the sub-prime crisis in a lecture entitled ‘How Great are The Risks in China’s Real Estate Market?’.
Highlights of the year South China Summit Alumni and executives from Singapore, Shenzhen, Nanhai and Guangzhou took part in a debate on ‘China in the Post-Crisis Global Economy’, with Dean Prof Bernard Yeung; Mr Law Chung Ming, Regional Director, International Enterprise Singapore; and Mr Chai Guosheng, Chairman of Cnlight.
Dean Prof Bernard Yeung (second from left) at the ‘China in the Post-Crisis Global Economy’ debate.
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Southern China Alumni Network An alumni summit in Guangdong witnessed the signing of a Memorandum of Understanding for executive training with Nanhai District People’s Government in Foshan City.
Northern China Alumni Network In a forum, alumni heard how ‘all mergers and acquisitions are destined to be failures.’ This was among the comments made during the first session of the ‘Practical Experiments on China’s Road to Globalisation’ series, in collaboration with the China Overseas Educated Scholars Association.
In another forum, the network’s finance & intelligence club discussed the Internet of Things or IOT, an emerging force that was a main focus at the Chinese People’s Political Consultative Conference and National People’s Congress plenary sessions.
Mr Zhang Peng, Vice President of Geely Auto (centre) and Mr Yi Min (extreme right), President of Novartis China.
Participants at the forum on the ‘Past, Present and Future of the Internet of Things (IOT)’.
On a trip to Zhanjiang, alumni visited Guangdong Evergreen Group Co Ltd where its founder and Chairman, Mr Chen Dan (APEX-C MBA 2001) shared insights on management and entrepreneurship. The network also paid tribute to Mr Lam Kwong Yu, a recipient of the NUS Eminent Business Alumni Award. At a celebration dinner, Mr Lam shared his experience of surviving the recent financial crisis, while maintaining steady growth for his printing company, Starlite Holdings, which is listed on the Hong Kong stock exchange.
NORTHERN CHINA ALUMNI NETWORK Alumni Chapter • Beijing
EASTERN CHINA ALUMNI NETWORK Alumni Chapters • Anhui • Shanghai • Jianghuai • Suzhou
Mr Lam Kwong Yu (left) receiving the NUS Eminent Business Alumni Award from Mr S Dhanabalan, Chairman of NUS Business School Management Advisory Board.
Eastern China Alumni Network A network committee was formed to represent members in Shanghai, Jiangsu and Anhui. The chairman of OCBC Bank (China), alumna Ms Leong Wai Leng, was appointed chairman of the network’s advisory board.
SOUTHERN CHINA ALUMNI NETWORK Alumni Chapters • Guangzhou • Shenzhen • Nanhai • Xiamen Ms Leong Wai Leng
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Giving Highlights
ENEROUS BENEFACTORS Each year, alumni, individuals and corporate donors contribute generously to the school’s endowments and funding programmes, such as bursaries and scholarships for students. Funds are also raised to support teaching and innovative research. Through the benevolent support of these donors, NUS Business School is able to advance education and research that would otherwise have not been possible.
Cherian Family Charitable Gift Fund Two new bursaries, worth $2,500 each, will be awarded to two business undergraduates every academic year under the Yanfang and Joseph Cherian Bursary, in recognition of a generous $45,000 contribution from the Cherian Family Charitable Gift Fund. CPA Australia An annual gift of $2,000 over five years will be used as a cash prize for students with the best quality case study in their Corporate Governance and Ethics module. JobStreet.com A gift of $30,000 from JobStreet.com has been used to establish undergraduate and graduate prizes. Two undergraduates and two MBA students will each receive $1,500 with effect from Academic Year 2010/11. Musim Mas Group The Musim Mas Group, an integrated palm oil corporation, gave the school $2.27 million to launch a newly-endowed Professorship in Sustainability. The Professorship will be used to fund research in the area of sustainability and educate future
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business leaders so that they may contribute meaningfully to sustainability.
(From left) Prof Tan Chorh Chuan, President, NUS; Prof Bernard Yeung, Dean, NUS Business School; Dr Gan Lian Tiong, Musim Mas Head of Sustainability, and Jasmine Wong, Musim Mas executive.
Singapore Chinese Chamber of Commerce Foundation (SCCCF) The foundation, a subsidiary of the Singapore Chinese Chamber of Commerce & Industry renewed the SCCCF Business Scholarship from Academic Year 2010/11 for the next three years. Two scholarships, worth $5,000 each, will be awarded to two outstanding business undergraduates every year.
Singapura Investment Holdings Singapura Investment Holdings made a gift of $100,000 for new energy business research and development, and another $200,000 for an initiative in global finance and economics strategy.
Singapura Investment Holdings pledges $300,000 to support two new initiatives at NUS Business School. (From left) NUS Provost, Prof Tan Eng Chye and Singapura Investment Holdings Director, Wang Wen Liang.
Tax Academy of Singapore A gift of $15,000 from the Tax Academy of Singapore has been used to establish prizes for accountancy undergraduates who achieve the best grades in the module ‘Advanced Taxation’. The prize, valued at $1,500, will be awarded to one student every year with effect from Academic Year 2010/11. Temasek Foundation A three-year joint programme between NUS Business School and Ateneo de Manila University in the Philippines has received $592,530 from the Temasek Foundation to support curriculum development for a module entitled ‘Entrepreneurship for Sustainable Development’.
Event Highlights Building Excellence A donor appreciation night was organised for donors who contributed to the Building Excellence Campaign and NUS Business School Golf Challenge 2007 & 2008. The funds raised at these events were used for the construction of the Mochtar Riady Building and to support the activities of the Asia Centre for Social Entrepreneurship and Philanthropy (ACSEP). NUS Business School Alumni Association Bursary Award 2010 A dozen deserving business undergraduates received bursaries of $2,500 each from the NUS Business School Alumni Association (NUSBSA) Bursary Fund, which includes 12 sub-bursaries named after donors who contributed $25,000 or more.
NUS Business School Undergraduate Bursary Award 2010 Some 71 undergraduate bursaries, worth $2,500 each were handed out at the NUS Business School Undergraduate Award Ceremony 2010. These bursaries will help defray tuition fees and other study-related expenses.
(From left) Assoc Prof Quek Ser Aik, Yang Ching Fu (Comod Aire bursary donor), Dr Yeo Wee Yong, Pai Keng Pheng (Sentek Marine bursary donor), Dean Prof Bernard Yeung, Peh Chin Hua (Peh Boon Poh bursary donor), Thomas Pek Ee Perh (Pek Cheng Chuan Memorial bursary donor), Dr William Chung (President, NUS Business School Mandarin Alumni), Desmond Peh Chin Chye (Just Education bursary donor), and Victor Koh (Director, NUS Business School Development Office).
Supporting education for financially-needy students is a most worthwhile venture, for the simple reason that it’s not helping just one deserving student – we will help the family as well and hopefully change the future course of their lives for the better. (From left) Assoc Prof Hum Sin Hoon, Wong Ah Long, Gerald Tay Jingyan, Boon Swan Ngee, Prashant Pundrik, Benny Lee, Kiew Siew Mui, Prof Teo Chung Piaw, Seah Cheng San, Yeo Suan Eu and Yeo Keng Joon, at the NUSBSA Bursary Award 2010 ceremony.
Mr Yeo Keng Joon MBA, 1985 Chairman, NUS Business School Alumni Association Bursary fundraising project
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RETROSPECTIVE: NUS BUSINESS SCHOOL TURNS 45
From its modest beginnings in 1965, NUS Business School has grown by leaps and bounds. It started out as the Department of Business Administration with a class of some 20 students. Today, the school is home to more than 130 top research faculty; over 2,500 BBA, MBA, Executive MBA and PhD students; and more than 2,000 annual
Graduates from one of the first few cohorts, many of whom have contributed to the success of Singapore.
participants in our Executive Education programmes.
Since its inception 45 years ago, 45,000 graduates from 40 major cities across the globe have left their indelible mark on the Singapore economy and beyond. It was then apt that the 45th anniversary celebration carried the theme ‘Transforming Leaders – Past, Present and Future’. The year-long celebration culminated in the grand opening of the Mochtar Riady Building on 24 September 2010. Students, alumni, advisory board members, valued partners, faculty and staff joined in the celebration. It was truly an occasion to reconnect and re-bond among themselves and with the school.
The grand opening of the Mochtar Riady Building was officiated by (from left) Prof Tan Chorh Chuan, President, NUS; Mr Wong Ngit Liong, Chairman, NUS Board of Trustees; Dr Ng Eng Hen, Minister for Defence, who was then Minister for Education; Dr Mochtar Riady, Founder & Chairman, Lippo Group; Mr S Dhanabalan, Chairman, NUS Business School Management Advisory Board; and Prof Bernard Yeung, Dean, NUS Business School.
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Prof Tan Chorh Chuan, President of NUS, commended NUS Business School for its achievements, which have contributed significantly to NUS’ standing as a global university.
Wall Murals A donor wall and heritage wall were introduced at the grand opening event, together with a signature wall panel on which guests were invited to write their well wishes.
‘Business Class – lessons from high fliers’ Signature wall
Heritage wall
This commemorative book revisits 45 years of NUS Business School's achievements through the ventures and adventures of its alumni, deans and faculty.
Donor wall
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he Mochtar Riady Building NUS Business School’s iconic new building has been named after Dr Mochtar Riady, Founder and Chairman of the Lippo Group, in recognition of the Group's generous contribution to the school. We are thankful to Dr Riady for this gift, which enables us to provide world-class facilities for future generations of global business leaders. With its reed-like façade structure, the building symbolises the school’s flexibility and stability. It has been honoured with the BCA Green Mark Gold Award, a commendation for promoting sustainable building designs.
Published by NUS Business School National University of Singapore Mochtar Riady Building 15 Kent Ridge Drive Singapore 119245 Email: askbiz@nus.edu.sg Website: bschool.nus.edu
ASIA’S GLOBAL BUSINESS SCHOOL