Orient Issue 48 by BritCham Singapore

BRITCHAM ORIENT MAGAZINE

Orient

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T H E O F F I C I A L M A G A Z I N E O F T H E B R I T I S H C H A M B E R O F C O M M E R C E - S I N G A P O R E ISSUE 48 / APR–MAY 2014

SPECIAL FEATURES

ISSN 0219-1245

ISSUE 48

9 770219 124002

CONSERVING THE PRESENT FOR A SUSTAINABLE FUTURE

LEADERSHIP AND PARTNERSHIP: HELPING THE UK TO WIN IN SINGAPORE

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Contents 7

PRESIDENT’S MESSAGE

EXECUTIVE DIRECTOR’S MESSAGE SPECIAL FEATURES

Conserving the Present for a Sustainable Future

British High Commission: Leadership and Partnership: Helping the UK to Win in Singapore

FEATURES 13

Why I Ignore the Early Adopters of Technology

Singapore’s Productivity Drive: Entering the Second Half

Cybercrimes in Singapore

International Banks and Companies Team Up to Combat Deforestation

Responsible Cloud?

Inheritance Tax Planning for UK Expatriates

BUSINESS SERVICES NEWS 46

Business Services Update 2014

AT THE CHAMBER 49

Former Chamber President Steve Puckett Awarded the OBE by HM the Queen

Business Group News

Sterling News

Corporate News

BritCham New Members

Members’ Offers

Events

Events Calendar

CULTURE & LIFESTYLE 70

10 Things You Should Know About Shakespeare

W W W. B R I T C H A M . O R G . S G

British Chamber of Commerce, Singapore Sponsors PLATINUM SPONSOR

GOLD AND DIVERSITY SPONSOR

SILVER AND BREAKFAST CLUB SPONSOR

SILVER SPONSORS

GOLD SPONSOR

BRONZE SPONSORS

BRITCHAM BOARD: PRESIDENT: Hugo Walkinshaw: Deloitte Consulting SE Asia VICE-PRESIDENTS: Andrew Vine: The Insight Bureau Peter Allen: Pacific Century Group TREASURER: Dominic Nixon: PricewaterhouseCoopers HONORARY SECRETARY: Damian Adams: Simmons & Simmons BOARD MEMBERS: David Macdonald: Portfolio Builders Andrew Thomas: Ogilvy & Mather Singapore Chris Davie: Rolls-Royce Singapore Chris Kilburn: Watsons, Farley & Williams David Pugh: The Fry Group Ian Williams: HSBC Bank Mark Buchan: Ernst & Young Peter Hatt: Standard Chartered Bank Richard Burn: Diageo Singapore Robert Williams: British Airways Rudi Geerdink: The Royal Bank of Scotland Sian Brown: Barclays Bank Terence Yuen: BP Singapore Tim Harris: BT Singapore

Editor: Vipanchi vipanchi@britcham.org.sg

Orient is a bi-monthly magazine published by the British Chamber of Commerce.

138 Cecil Street, #13-03 Cecil Court, Singapore 069538 Tel: +65 6222-3552 Fax: +65 6222-3556 Email: info@britcham.org.sg www.britcham.org.sg

EX-OFFICIO: Judith Slater: British High Commission Roland Davies: British Council BUSINESS GROUP CHAIRPERSONS: Energy & Utilities: Damian Adams Entrepreneur & Small Business: Peter Seligman Financial Services: Gary Haran Doyle IT and Communications Technology: Henry Farahar Leadership: Peter Hatt Creative Industries: Frazer Macdonald Hay Professional Services: Martin Riddett Property & Construction: Richard Warburton Scottish Business Group: Neil Melnnes Shipping Transport & Logistics: Neil Johnson Women in Business: Sian Brown Young Professionals: Miles Gooseman MANAGEMENT TEAM Executive Director: Brigitte Holtschneider Accounts Manager: Sabitha Munnangi Business Services Manager: Jennifer Hainsworth Events Manager: Tiffeny Kua Membership Manager: Katie Hudson Marketing & Communications Manager: Vipanchi Membership & Events Assistant Manager: Emi Hosono Marketing & Communications Executive: Clara Tan Business Services Advisor: Umagliya Kankanangai Tina Office Administration Executive: Anna C. Garciso

The views and opinions expressed or implied in Orient are those of the authors or contributors and do not reﬂect those of the British Chamber of Commerce, its ofﬁcers or editorial staff. No reproduction of articles without the prior permission of the Chamber. Unsolicited transparencies and articles are sent at owner’s own risk and the

Chamber accepts no liability for loss or damage. Copy is not for sale and images belong to their respective owners. They are for illustrative purposes only, and no copyright infringement is intended. Sub-edited, designed and printed by: NOVUS CONTENT. DI G I TAL. PUBLI SH ING.

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Contact: Simon Cholmeley simonc@novusasia.com Design: Kevin Ong kevinong@novusasia.com Khairunnisa khai@novusasia.com Sub Editors: Chua Kim Beng kimbeng@novusasia.com Iliyas Ong iliyas@novusasia.com Creative Services: Kwan Gek Lian gek@novusasia.com

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Presidentâ&#x20AC;&#x2122;s Message

W W W. B R I T C H A M . O R G . S G

Dear members, This edition of your Orient magazine has a theme of Sustainability & Responsibility and includes an article by HE Antony Phillipson on Responsible Leadership. He highlights several key areas that I believe are critical in being effective as a leader, most notably around the themes of communication, focus and trust, and I would recommend that you take the time to read the article. Our Annual General Meeting will soon be upon us, so please mark your diaries for May 8th at Eden Hall where once again we are grateful to High Commissioner Antony Phillipson for opening up his home for this annual event and where Iâ&#x20AC;&#x2122;ll look forward to reviewing the highlights of the past year. Our calendar of events has been as full as ever this year and our 60th Anniversary theme will be the see through all our events. Please mark for your diaries for the key events Rugby Networking Evening on June 6th, followed by our F1 Networking on 18th September. Our 15th Annual Business Awards will have a more streamlined approach to categories which are Singaporecentric. Do send in your nominations and save the date for the Awards Gala Dinner on 1st October. The year-end 60th Anniversary Ball will culminate this special year on 06th December. I look forward to seeing you all at these events. Hugo Walkinshaw President, British Chamber of Commerce

Marking an important milestone in the Chamberâ&#x20AC;&#x2122;s development, our revamped website aims for users to experience an improved functionality and more informative content accessible on desktop, tablet and smart phone. In addition, this will act as a potential catalyst to progress one of our longer term aims, which is to build a strong and useful knowledge bank for members within the Chamber. Do log on to www.britcham.org.sg and explore the new platform. Best Regards,

Just like Einstein, I like Physics best of all. Stamford’s campus has a really cool Science &HQWHU GHVLJQHG WR DOLJQ ZLWK WKH VFLHQWLðF PHWKRG – it has break-out space for hypothesizing, lab space for experimentation and presentation space IRU VKDULQJ ðQGLQJV Stamford is a world-class school with students from 2 years old through High School and a state-of-the-art campus offering state-of-the-art academic and athletic resources, daily Mandarin and Spanish and the rigorous IB Program enhanced by American standards.

+65 6602 7247

www.sais.edu.sg

Stamford American International School CPE Registration Number: 200823594D Period of Registration: August 10, 2010 to August 9, 2014

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Executive Director’s Message

W W W. B R I T C H A M . O R G . S G

Dear members, We are now well into a busy and exciting 2014 so I’d like to give you an update of what’s been happening at your Chamber. Key initiatives, current and past, include: t Planning the ﬁrst celebration event to commemorate our 60th anniversary on 23 Apr. We invited external partners and supporters as well as Chamber ofﬁce bearers from the Board, Committees and Business Groups to a cocktail reception hosted by our Patron, High Commissioner Antony Phillipson. Baroness Warsi from the UK was the Guest of Honour. Also in attendance were guests from the Singapore Government. t Preparing for the upcoming AGM on 8 May. t Planning the 2014 Rugby Networking with Ben Kay on 6 Jun. t Further developing the Annual Business Awards undertaken by a Committee chaired by Board member Rudi Geerdink. Our aim is to keep award categories up to date and relevant for the Singapore business landscape and at the same time facilitate the nomination process further to encourage as many businesses and individuals to participate.

Brigitte Holtschneider Executive Director, British Chamber of Commerce, Singapore

I would like to take this opportunity to express many thanks to all the companies that came on board to sponsor our 60th anniversary: RBS, BP, Cognita with the Stamford American School and the Australian School, Rolls-Royce, Taylor Vinters and The British Council There are still a couple of packages available, so please contact me at Brigitte@britcham.org.sg if you are interested to know more about the options. By the time you read this magazine, Business Services Manager Jennifer Hainsworth and I would have been to the UK, attending various workshops with the UKABC, the BCC and the other 39 Overseas British Chambers or Business Groups that participate in the Overseas Business Network Initiative. We would have attended the fourth International Trade Conference organised by the BCC, which would have provided us with manifold opportunities to meet British companies interested in expanding to Singapore and the region as well as connecting with all Regional UK Chambers for further pipeline development. For updates, reports and news, log on to www.britcham.org.sg/businessservices I hope you ﬁnd our new digital platform a modern and delightful experience, particularly when you are accessing the website on your tablet or smart phone! I am keen to hear your feedback, so feel free to send me an e-mail if you have the time. To conclude I’d like to inform you about two new additions to the Chamber team: Clara Tan joined us as Marketing and Communications Executive on 24 Mar, succeeding Venges Nathan and Umagliya Kankanangai Tina came on board on 7 Apr to work with Jenny as Business Services Advisor. Please join me in wishing both ladies success and fun in their roles. I hope you enjoyed a relaxing Easter break and look forward to seeing you at the AGM on 8 May. Best wishes

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Sterling Members

W W W. B R I T C H A M . O R G . S G

SINGAPORE

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Feature

Why I Ignore the Early Adopters of Technology By Anant Deboor Exploring the popularity behind all things retro and vintage

W W W. B R I T C H A M . O R G . S G

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ast week, I was shopping at the local supermarket and noticed Kellogg’s had brought in new packaging for their corn ﬂakes. It had a vintage look and Cornelius was looking somewhat different . Upon closer inspection, I realised it wasn’t a card box; it was Kellogg’s Corn Flakes in a tin box with a lid—vintage packaging on sale in a supermarket right next to regular, more modern boxes of cereal, but not as collector’s items.

Psychologists advise that breakfast is a meal that helps people adjust and manage a transformation (from night to day, from sleep to wakefulness) in their environment in a familiar, comfortable way. So breakfast rituals and products are often laden with metaphors and experiences that trigger comfort, familiarity and security. You find far more innovations around lunch and dinner than breakfast. To me, the idea to bring back these vintage cereal boxes in a mainstream supermarket provoked even more questions around this ‘retro’ wave and why it is doggedly successful in some areas. Is there something deeper that we are all craving against the onslaught of modernity and technology? Is it something beyond the cyclical nature of things fashionable? Is it simply a backlash to something else? For Christmas a couple of years ago, I bought my then 20-year-old son a vintage Nikon FM camera , one that shoots film. It instantly upped his cool factor among his mates, who couldn’t care less about cameras with the latest technology. Like several of his friends , he prefers to shoot film and has fun playing with different types of processing and development. On the other hand, for the camera manufacturers, it seems like there is no greater tech frenzy than when a new camera is launched. The mega-pixels! The dynamic range! The resolution! The sharpness with or without an anti-aliasing filter! The sensor that can shoot in pitch darkness! Whatever. Each new camera promises to unleash the Mario Testino hidden in every one. People now see a nice photograph and tell me,

Feature: Why I Ignore the Early Adopters of Technology

W W W. B R I T C H A M . O R G . S G

“Wow, you must have a great new camera.” I feel like replying, “That was a terrific cake. You must have a great new oven.” But I digress. Another example: Nikon recently stuffed the fanciest sensor they had into a retro-styled camera body, replaced the digital interface settings with analog ones and called it the Nikon Df. They can’t sell them fast enough now. Instagram is a service that is less than five years old and primarily associated with the younger generation, but its hottest feature is one that evokes the past : filters that create sepia tones and early colour images. When I ask some folks why they don’t bother to learn the basics of camera settings and filters, they complain it is too much work!

Moshi-moshi handset People buy the latest phones and then set ring tones that are like old car horns or first generation digital phones or even the analog double rings. Now I hear stories of bookshops opening and people reading more print. Several fashion and portrait photographers are getting into medium format film while Newsweek is now relaunching the print edition as a premium version of the online magazine. In India, I hear of temple priests using iPads to conduct ceremonies. As I write this, my Twitter feed reports that Britain launching a new one-pound coin that has 12 sides, inspired by the threepenny bit that was used from 1937–71. And consider Dong Nguyen. The creator of Flappy Bird was reportedly pulling in US$50,000 a day when he decided he could take the pressure no longer. When he pulled the plug on the game and switched back to a simpler, sparser and presumably less stressful life, he instantly became a hero to a lot of people — yours truly included. I find this revival of what everyone dismissed as dead or dying—the embracing of styles that are evocative of the past, the adaptation and use of new technologies in more traditional ways—all endlessly fascinating. IT research and advisory firm Gartner Inc has a model called Hype Cycle. It very eloquently puts forward the theory that all technologies go through a cycle that

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comprises of a spike in inﬂated expectations followed by a trough of disillusionment and ultimately rises mildly to plateau at a level of productivity, which is just an increment over where people were before the technology came in. Every time there is a new piece of technology launched, normal people — not the novelty-seekers—simply want to pull it into their lives with the least fuss. Meaning, the technology itself has little meaning; it is what it does within their lives that is more important. Simpler, more practical, more real ways of adapting it into their lives than changing their lives

About the Author Anant Deboor is the Managing Director of The Partners, Singapore, and leads their business interests across the region. One of the world’s most awarded agencies, The Partners

Feature: Why I Ignore the Early Adopters of Technology

around the new technology. It seems the more experiences and objects get reduced to zeroes and ones, the more people are searching for the tactility and sensations of life. Today’s sculptor and pottery maker still essentially uses tools and technology to express himself in ways Early Man pioneered. Never mind the evolution of writing material, painting, print, photography, et al. There is something fundamental in all of this. The more the external environment changes, the more stress it creates among us to keep up — and our hard-wired reptilian brain kicks in to reconnect our

is headquartered in London and specialises in the design of brand strategies, identity and innovation.

everyday practical lives with our deeper subconscious instincts for the familiarly secure, whether it is images, symbols, sensations or experiences from our cultural past. There is an authentic simplicity representing a less stressful time that is an antidote to the change and stress we like to feel we are on top of. That’s why I couldn’t care less about the innovators and early adopters of any technology. They represent the hype. Not the constant. As the French say, “plus ca change, plus c’est la meme chose.” The more things change, the more things stay the same.

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Feature

Singaporeâ&#x20AC;&#x2122;s Productivity Drive:

Entering the Second Half By Vaninder Singh

A mid-term report card on Singaporeâ&#x20AC;&#x2122;s Productivity Drive and a forecast of the road ahead.

W W W. B R I T C H A M . O R G . S G

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Feature: Singaporeâ&#x20AC;&#x2122;s Productivity Drive: Entering the Second Half

W W W. B R I T C H A M . O R G . S G

n 2010, Singapore embarked on a 10year programme to boost its economy’s productivity, with the ultimate aim of reducing income inequality. Its goals were twofold: to grow productivity by 2–3% a year on average between 2010 and 2019, and to raise wages by 33% over the decade. The government hoped to achieve these targets by tightening foreign labour supply and encouraging automation and the retention of higher-skilled workers.

Now in its fifth year, the restructuring drive is starting to have a significant impact on the economy’s structure and pace of growth. Wages are beginning to rise in a tight labour market, helping the government to achieve success in its objective of narrowing income inequality. But some of the productivity gains may fall short of their goals, especially in the target sectors of construction and food and beverage (F&B). While foreign labour intake has been significantly tightened since 2010, productivity increases have yet to be seen. Labour productivity has been essentially flat since 2011, the first full year following the start of the plan. It rose slightly in the second half of 2013, but the gains were not broad-based, with productivity in construction and F&B falling even further. This has important consequences. Without the necessary boost from productivity growth, overall trend growth—the economy’s average rate of expansion in the medium-term—is likely to edge down. And if productivity fails to pick up in the longer term, Singapore’s progress towards reducing inequality may be threatened by inflation, which is likely to continue facing upward pressure.

Changing sectoral landscapes As the transformation process continues, this mid-term report assesses the likely impact of the productivity measures in the second half of the 10-year restructuring drive. We believe that sectors such as construction and manufacturing, which have historically been allowed the highest shares of foreign workers, may be fundamentally altered by the end of the decade. In construction, identified as the biggest underperformer in raising capital intensity, part of the recent rapid decline in productivity has been due to an industry downturn. Firms have yet to reduce their headcount despite this downturn, as is clear from the steep rise in wages as a share of overall output. This is likely due to the difficulty and costs involved with having to bring the workforce—typically comprising a large number of foreign workers—back in a subsequent upturn. But we expect the construction downturn to last through most of this year and 2015, forcing firms to start implementing cost-cutting measures to preserve margins. As the government tightens the tap on foreign workers, construction firms will have to substitute labour with capital. This will eat into the margins of smaller players, which are likely to be squeezed out, while remaining players will benefit from greater scale. Consequently, we expect productivity gains from construction to start rising in the coming quarters. Productivity is also forecast to improve over time in the manufacturing industry, on the back of a similar attrition among companies unwilling or unable to step up automation. The number of Singapore residents

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employed as plant/machine operators and assemblers has been consistently falling since 2005, as more of them prefer to work in white-collar jobs. This automatically caps the number of employees available to manufacturing firms, given that they have to hire a minimum ratio of local workers relative to foreign ones. The tight labour market is likely to lead manufacturers of certain products to exit Singapore, as they opt to utilise low-cost labour in other parts of the region rather than invest more capital to automate their production in the Republic. This process probably has not started in earnest yet— as suggested by the share of wages in manufacturing output rising 10% in 2013 alone—but is probably imminent. As such, we believe parts of the manufacturing industry, particularly electronics, are likely to become unviable. The firms that decide to remain in Singapore are expected to adopt more automation, leading to greater productivity gains. But the overall size of the manufacturing sector will likely shrink further from its current one-fifth share of the economy

Feature: Singapore’s Productivity Drive: Entering the Second Half

and Singapore’s manufacturing exports will continue to decline.

Limited room for productivity gains The situation is different for Singapore’s services industries, which, by their very nature, have lower levels of productivity. In the F&B sector, it is difﬁcult for the mostly small owner-run businesses to embark on signiﬁcant automation. Building more shared services and improving processes, as the government has been urging, would help somewhat. However, this would largely apply to food courts, where a number of these measures are already in place. As such, productivity in F&B has continued to decline at a rapid pace, falling a cumulative 3.3% over the past two years. A wholesale improvement is unlikely. Instead, operating costs are likely to increase in the short term and businesses will end up passing these costs on to consumers. Finance and business services, which together make up more than a quarter of the economy, should continue to do well, although their ability to achieve

higher productivity gains will be similarly limited. Within these sectors, business activities that have high manpower costs and requirements are likely to be adversely affected. We believe more software development work could be moved offshore given that the IT sector is marked by high manpower costs and requirements. Overall, we are not entirely convinced that the higher productivity growth rates are attainable in the time frame the government has set for itself. Productivity may indeed rebound once the transformation process is complete, but in the interim, the drag from unwinding industries is likely to prove stronger. This has important implications for Singapore’s trend growth rate. Without productivity gains in excess of 2% per year on average, achieving the government’s targeted 3–5% economic growth rate in the medium term may be difﬁcult.

Reducing inequality On the bright side, the productivity drive has put upward pressure on wages, contributing to the government’s agenda of reducing

W W W. B R I T C H A M . O R G . S G

inequality. Income inequality as measured by the Gini coefﬁcient declined from 2012 to 2013, especially when government transfers are taken into account. Higher pay is also raising the participation rate, especially among women and seniors. The female participation rate in the workforce has risen to nearly 50% in 2013 from 45% in 2010, while the participation rate for workers aged 60 and above has climbed to about 38% in 2013 from 30% in 2010. Consequently, the government is starting to see some success with its objective of reducing inequality, the main reason behind the productivity drive. However, it is important to ensure

About the Author Vaninder Singh is a Southeast Asia economist with the Royal Bank of Scotland.

that higher inflation, which tends to disproportionately affect lower-income households, does not wipe out these gains. If productivity growth continues to disappoint and labour policies remain tight, unit labour costs—the inflationadjusted cost of labour to produce one unit of output—should continue to edge up as wages rise faster, resulting in rising inflation.

workforce has historically been lower, thus inﬂationary pressures may turn out to be even stronger as upward pressure on wages continues.

The Monetary Authority of Singapore (MAS) estimates the country’s non-accelerating inﬂation rate of unemployment (NAIRU) to be 2.5%, which means any unemployment rate below this level will result in inﬂation. In fact, the estimate for NAIRU may have to be adjusted higher still to 2.7%, as the share of non-residents in the overall population falls. Unemployment in the non-resident

In summary, we expect success on the higher wage and lower inequality dimensions to continue, but the government’s productivity target will be elusive for this decade. Overall, we believe the combination of lower growth and higher inﬂation witnessed over the past two years will persist until the transformation is largely complete.

Monetary policy is likely to be the primary tool to curb inﬂation, in our view. Therefore, we expect to see the broad settings for the Singapore dollar exchange rate to remain unchanged.

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Feature

W W W. B R I T C H A M . O R G . S G

Conserving the Present for a Sustainable Future The world has long been marked by much global unpredictability and challenges on different facets. Just last year, while some key markets appear to be on the mend economically, other financial storms emerged. Politically, there were delicate and contentious issues world governments had to address. Environmentally, countries had to battle with unprecedented extreme weather conditions.

An unpredictable global paradigm In 2013, Typhoon Haiyan struck the Philippines, leaving a massive trail of destruction and death. In Singapore, the haze enveloped the city, affecting individuals, businesses and its tourism industry. And just earlier this year, snowstorms hit the US, while Britain was affected by massive ﬂooding, rain and snow. Through these destructive weather phenomena, lives were lost, communities

destroyed, livelihoods put in jeopardy and prices of essential commodities sent skyrocketing. Even in the absence of a global deal on climate change, it is evident that this topic remains an urgent issue on many world leaders’ agendas.

0.8°C warmer than in pre-industrial times. Many of us could experience the harsher impacts of a 2°C warmer world within our lifetimes—20 to 30 years from now—and a 4°C rise in temperature is likely by the end of the century without global action.

According to a scientiﬁc report commissioned by the World Bank and released on Jun 2013, communities around the world are already feeling the impact of climate change today, with the planet only

Driving change globally and in Singapore Globally, several sectors such as those in the Energy, Utilities and Materials contribute signiﬁcantly to carbon emissions. The

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Feature: Conserving the Present for a Sustainable Future

Building sector is also a major contributor. It accounts for approximately 40% of total energy use and about 30% of Greenhouse Gas (GHG) emissions.

CDP responses has increased since 2012. This highlights how seriously corporations treat their carbon reporting and that this reporting increasingly translates into action.

In Singapore, the building sector is the third largest contributor of CO2, accounting for 30% of energy consumption. There is a real need for the building industry to undertake greater environmental responsibility and mitigate the impact of its activities on the environment.

In 2011, the Singapore Government announced a target under its new energy efﬁciency scheme—for at least 80% of the buildings in Singapore to achieve the Building and Construction Authority (BCA) Green Mark Certiﬁed rating by the year 2030.

On the upside, more corporations have started to take climate change seriously. In the Global 500 Climate Change Report for 2013 by the Carbon Disclosure Project, the minimum score for entering the Climate Disclosure Leadership Index has risen to 97% (up from 94% in 2012 and 90% in 2011). The number of performance leaders demonstrating a strong approach to climate strategy and emissions reduction in their

BCA, a government body that champions the development of an excellent built environment for Singapore, launched the BCA Green Mark Scheme in Jan 2005. This rating system promotes the adoption of green building design and technologies that improve energy efﬁciency and reduce the impact of buildings on the environment. Under the scheme, buildings are assessed on energy and water efﬁciency, site/project development and management, indoor

environment quality and environmental protection, and innovation. Buildings are awarded a Platinum, GoldPlus, Gold or Certified rating, depending on points scored. In Apr 2008, the Scheme became mandatory for all new buildings while existing ones had to undergo major retrofitting to meet the minimum Green Mark certification standards. While incentives and government policies to help developers build and manage greener properties is one way to drive sustainability and conservation, corporations are increasingly making it their own responsibility to ensure that their business practices and operations are sustainable.

Singapore’s Green Buildings My Tree House World’s First Green Library for Kids Basement, Central Public Library

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100 Victoria Street, Singapore 188064 Opening Hours: Mon–Sun; 10am–9pm Conceptualised and built in collaboration with NLB, My Tree House—World’s First Green Library for Kids, is the ﬁrst library in the world to be steered by green principles in all facets, from design, infrastructure and use of sustainable materials to collection and programming. Eco-friendly building materials such as energy-efﬁcient LED lighting, refurbished bookshelves and carpets with green properties were used. The canopy of the tree house centrepiece is built with more than 3,000 recycled plastic bottles collected from the public, schools and visitors to City Square Mall. Opened on 31 May 2013, My Tree House was designed as an enchanting and magical green space to encourage children to read

and learn about the environment in a fun and interactive way. It has a collection of 45,000 books, including a wide variety of green-themed ones. CDL Green Gallery@SBG Heritage Museum Singapore’s First Zero-Energy Green Gallery Singapore Botanic Gardens 1 Cluny Road, Singapore 259569 Opening Hours: Mon–Sun; 9am–6pm (closed last Tue of the month) The second project is the CDL Green Gallery@SBG Heritage Museum, sited on Holttum Lawn. Developed as an extension of the SBG Heritage Museum and housed next to the Gallery, it currently features interactive exhibits where visitors can learn more about the rich history of the 154-yearold Gardens and Singapore’s greening journey over the past ﬁve decades. Together, these two new amenities will help to jointly support SBG’s nomination bid as Singapore’s

first UNESCO World Heritage Site. Two eco-innovative features—Hempcrete (a bio-material made from hemp plant) and the use of a prefabricated modular system—have been introduced in Singapore for the first time. Hempcrete, used for the external wall cladding, is a high thermal material ideal for Singapore’s humid climate as it creates good indoor air quality. It is also highly durable and is pest-, mould-, mildew- and fire-resistant. The prefabricated modular system is a unitised form of building with steel components prefabricated and assembled in an off-site production facility, then hoisted by a crane into position onsite. Like building blocks, they are pieced together onsite to form the entire structure. It is easy to build, flexible and

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Feature: Conserving the Present for a Sustainable Future

takes less than 24 hours to install.

A green future for all

In addition, the Gallery’s solar photovoltaic (PV) cladded roof panels generate an annual energy yield of more than 31,000 kWh, making the Gallery self-sufﬁcient for energy

With growing global concerns about the impact of climate change and dwindling natural resources against fast expanding populations, the mindset of governments, business and consumers are changing, and the emergence of a more ecoconscious future looks hopeful.

Both these projects received BCA’s Green Mark Platinum status, the highest tier green building rating in Singapore.

About City Developments Limited (CDL) My Tree House and the CDL Green Gallery were CDL’s two commemorative ‘Gifts to the Nation’ in 2013 as the company celebrated its 50th anniversary. As a leading green developer, CDL started embracing the green agenda close to two decades ago, when the building sector was seen as ‘Destroying before Constructing.’ CDL was determined to change this perception and committed to transforming its business

In 2009, the Sustainable Singapore Blueprint was released, containing

strategy to one that ‘Conserves as it Constructs’ for long-term sustainability. Today, it has afﬁrmed its leadership in Green Building and Corporate Social Responsibility both locally and internationally. CDL is the ﬁrst developer to have been accorded the Green Mark Champion Award (2008), Built Environment Leadership Platinum Award (2009), Green Mark Platinum Champion Award (2011), Quality Excellence Award – Quality Champion (Platinum) and the

ﬁrst private developer to receive the Construction Productivity Award – Advocates (Platinum) by the Building and Construction Authority (BCA). Globally, CDL is the ﬁrst Singapore corporation to be listed on three of the world’s leading sustainability benchmarks: FTSE4Good Index Series (since 2002), Global 100 Most Sustainable Corporations in the World (since 2010) and the Dow Jones Sustainability Indices (since 2011).

strategies and initiatives that were needed for Singapore to achieve both economic growth and a good living environment over the next two decades. Coupled with the government’s push in construction productivity, green innovations will be one of its key drivers to help support the city’s push towards a more sustainable economy and future.

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Cybercrimes in Singapore By Javern Sim In the digital age, crime has migrated onto the Internet. Find out how to protect yourself and the information that matters most to you. n 2013, a computer hacker who called himself ‘The Messiah’ carried out a series of cyber-attacks on major government websites in Singapore. The objective, according to the Messiah himself, was to “protest the Internet licensing framework” imposed by the government. The Messiah succeeded in defacing the websites of 13 government schools, the People’s Action Party’s Community Foundation, the Ang Mo Kio Town Council, the Prime Minister’s website and the blog of The Straits Times reporter Irene Tham.

That is not the end of The Messiah’s exploits. On the morning of 2 Sep, the website of Sun Ho, wife of Pastor Kong Hee of the City Harvest Church, was hacked into. Kong and several senior church members have been charged with misusing church funds to the tune of $50 million, the bulk of which was used to ﬁnance Ho’s pop music career. The hacker bragged that he took less than 15 minutes to gain access to the website. The Messiah, however, could not evade the long arm of the law and was arrested by the Singapore Police and charged in court for his exploits.

The case of The Messiah is unfortunately not an isolated one. The fact is that cybercrimes are prevalent in Singapore. Some 61% of adults here will experience some form of cybercrime in their lifetime, while 37% have experienced cybercrimes. Often, substantial damages result from the commission of cybercrimes. On average, each victim in Singapore suffers a loss of $1,448. This is the highest of the nations surveyed in the 2013 Norton Report; it is approximately four times the global average. What is worrying is that two in ﬁve mobile users in Singapore do not take basic precautions, such as the use of passwords and security software, on their devices. This article is written with two objectives in mind: to provide a brief overview of some of the legislation governing cybercrimes in Singapore and offer some advice to concerned readers on how to avoid falling victim to cybercrimes.

What are cybercrimes? Cybercrimes are more than hacking into and defacing websites. The Oxford English Dictionary deﬁnes cybercrime as “criminal activities carried out by means of computers or the Internet.” In Singapore,

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most cybercrimes are punishable under the Computer Misuse and Cybersecurity Act (Cap 50A, 2007 Rev Ed). The key sections are explained below: A. Unauthorised access to computer material Anyone who “knowingly causes a computer to perform any function for the purpose of securing access without authority to any programme or data held in any computer” is guilty under this section. An example of how this section can be contravened is found in the 2007 case of one Song Yick Biau. Song tricked his victims into sending him a ﬁle that contained their usernames and passwords. Song proceeded to change the illegally obtained passwords and took over the identities of his victims to chat with their friends online. This was not all. Song doctored photographs, superimposing victims’ faces onto naked bodies. He threatened to release such photographs of one particular victim should

Feature: Cybercrimes in Singapore

she refuse to send him compromising photographs of herself. Song was sentenced to 27 months in prison.

which is punishable on conviction with imprisonment for a term of not less than two years.”

It should be noted that the mere act of tricking his victims into sending him their login details for the purpose of securing access into their accounts without their approval would have rendered Song liable under Section 3(1) of the Computer Misuse and Cybersecurity Act. If, consequentially, any damage is caused to the offender’s victim(s), the offence would attract a heavier penalty under Section 3(2) of the Act.

In the case of Public Prosecutor v Navaseelan Balasingam [2006] SGDC 156, the accused pleaded guilty to ﬁve charges under Section 4 of the Computer Misuse Act (the predecessor to the Computer Misuse and Cybersecurity Act) “for causing various Automated Teller Machines (ATMs) to access data held in the central computer systems of the United Overseas Bank (UOB) Limited with the intention to commit theft of monies.” In addition, he faced charges of theft under the Penal Code. This case is a good illustration of how Section 4 of the computer Misuse and Cybersecurity Act works. The section is meant to deal with instances whereby the act of securing access to any programme or data comes with the objective of committing an offence such as theft in the case Navaseelan Balasingam.

B. Access with intent to commit or facilitate commission of offence Under this section, anyone “who causes a computer to perform any function for the purpose of securing access to any programme or data held in any computer with intent to commit an offence” is guilty. The offence referred to in this section is an offence “involving property, fraud, dishonesty or which causes bodily harm and

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C. Unathorised modiﬁcation of computer material Under this section, anyone “who does any act which he knows will cause an unauthorised modiﬁcation of the contents of any computer shall be guilty of an offence.” Similar to Section 4 of the Act, if damage is caused, the offender may be subjected to harsher penalties.

“to reset the monetary balance on a prepaid SingTel Hi Card” linked to his mobile number to induce SingTel to provide call services without payment on his part. Unauthorised modiﬁcation of the contents of any computer, as in the unauthorised modiﬁcation of the contents of SingTel’s Service Data Point 2 in this case, would lead to conviction under this section.

In the case of Public Prosecutor v Ooi Lye Guan [2005] SGDC 228, the accused pleaded guilty to unauthorised modiﬁcation of contents of ‘Service Data Point 2’ belonging to telecommunication company SingTel. The accused’s primary objective in committing the offence was

D. Others Other possible offences involving computers and falling under the purview of the Computer Misuse and Cybersecurity Act include: (a) Unauthorised use or interception of computer service;

About the Author Javern Sim is a Practice Trainee Associate with Gloria JamesCivetta & Co (GJC Law), an established Singapore law ﬁrm that has legal expertise in Asia-Paciﬁc, UK and European markets, including local and expat cross-border Divorces, Family Law

Matters, Estate Law, Corporate Law, Employment Law, Civil and Commercial Law, Criminal Law (white and blue collar crimes), and other litigation and solicitor’s work matters.

(b) Unauthorised obstruction of use of computer; and (c) Unauthorised disclosure of access code. If an offence is committed under section 3, 5, 6 or 7 of the Computer Misuse and Cybersecurity Act and involves protected computers, punishments will be enhanced. Finally, even if one did not actually commit the abovementioned offences, but instead abets the commission or does any act preparatory to the commission of any offence under the Computer Misuse and Cybersecurity Act, he will be treated as if he has committed the particular offence.

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Feature

International Banks and Companies Team Up to Combat Deforestation By Brandon Feng A unique collaboration between leading international banks and consumer goods companies aims to drive deforestation out of soft commodity supply chains. Barclaysâ&#x20AC;&#x2122; Head of Trade and Working Capital, Asia Pacific, explains why.

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hen 50 CEOs of the largest retail and manufacturing companies in the world announced their intention to take deforestation out of their supply chains by 2020, a group of leading international banks interpreted this as a market opportunity: to work closely with their clients (and their competitors’ clients) to ﬁnd solutions that facilitate this globally signiﬁcant goal.

There is an emerging consensus among global consumer goods companies that medium term security of the supply of staple soft commodities depends on a range of fundamental environmental ‘services’ being in place—the water cycle, soil health, biodiversity and climatic stabilisation provided by forests. They understand that ignoring deforestation to secure short term soft commodity supply will simply erode medium term shareholder value. With commodity price increases and volatility already being affected by environmental supply side factors (alongside growing demand), the leading ﬁrms in this sector are taking steps to address this fundamental issue. Banks with clients that are dependent on soft commodities for raw materials are also increasingly aware of the environmental issues that affect this marketplace. An inﬂuential group of international banks, including Barclays, has now embarked on a process to engage with and support these clients as they seek to transform their soft commodity supply chains. The Banking Environment Initiative (BEI)

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is a CEO-led group of 10 global banking institutions convened by the University of Cambridge. Its mission is to lead the banking industry in collectively directing capital towards environmentally and socially sustainable economic development. It has launched a partnership with the retailers and manufacturers of the Consumer Goods Forum (CGF), a group of more than 650 companies from 70 countries that account for at least $3 trillion in annual revenues and directly employing nearly 10 million people. Through a process of dialogue and collaboration over a number of months and advised by WWF’s Commodities Finance Program, the BEI and CGF are deﬁning best practice standards for banking that support the CGF’s ambition to achieve zero net deforestation in their supply chains by 2020.

Preventing deforestation as a strategic priority Consumer goods companies require secure, resilient supply chains capable of delivering growing volumes of key soft commodities. For the last decade, supply and demand factors have contributed to markedly higher and increasingly volatile soft commodity prices. The 2007–08 and 2010–11 spikes in soft commodity prices hit all-time highs, impacting product pricing, demand and margins within the sector. The ripple effects on poverty and hunger, social and political instability and international trade were signiﬁcant and noticeable. Food security has consequently risen up the socio-political agenda and become a major concern of governments, NGOs and the media. Supply factors have included environmental constraints such as ﬂood and drought (and related soil erosion), changing weather patterns and less predictable seasons linked to the loss of essential services from the natural environment, including forests; and climate change, for which deforestation is estimated to account for around 20% of global greenhouse gas emissions.

Feature: International Banks and Companies Team Up to Combat Deforestation

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While deforestation enables new land to be brought into productive soft commodity production, thus alleviating short term price pressures, it is now well understood by consumer goods companies that this strategy is unsustainable for an organisation that has medium to long-term ambitions for commercial growth and expansion.

Banking on partners Banks have a vested interest in the medium-term growth and success of their clients, and the viability of the wider economies in which they operate. Where clients identify an issue of potential

signiﬁcance to their medium-term objectives, there is a shared interest. International banks are well aware of the medium-term threats to food security, social stability and economic growth presented by environmental and resource constraints caused by climate change and deforestation. At a tactical level, there are further beneﬁts, including improved access to and relationships with clients, tighter management of reputation risk associated with ‘unsustainable’ banking practices, reduced credit risk through alignment of value chains with sustainable stewardship

About the Author Brandon Feng is Barclays’ Head of Trade and Working Capital, Asia Paciﬁc. To ﬁnd out more, visit the BEI’s webpage: www.cpsl.cam.ac.uk/banking and the Consumer Goods Forum’s Sustainability webpage: http://www.theconsumergoodsforum.com/sustainability.aspx

practices, and the opportunity to generate revenue streams from new forms of ﬁnance that facilitate the transition to sustainable supply.

Where is this going? The BEI and CGF have now created a Compact that articulates best practice standards that support the CGF’s deforestation ambition. They recognise that other banks may want to participate in the process and ultimately adopt the Compact, responding to the opportunity of alignment with their clients, the global brands of the consumer goods sector. They are open to expressions of interest.

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Feature

Responsible Cloud? By Gary Kinsley More than a tech buzzword, the Cloud is changing the way we do business. Find out how you can harness its capabilities to push your organisation to its fullest potential.

he beauty of the IT industry is its ability to regularly create wonderful new terms and acronyms that deﬁne how our lives will all be changed by the latest must-have innovations. One such recent concept is the already much-used term ‘Cloud computing.’ For what it’s worth, while this term is fashionably used to describe pretty much anything IT related at the moment, the concept is very deﬁnitely here to stay and will reshape the way we work and play. Moreover, Cloud is a very responsible way to... compute!

Cloud technically means three things: Infrastructure, Platform and Software— all being offered as a Service. These are respectively written as ‘IaaS,’ ‘PaaS’ and ‘SaaS.’ In essence, the Cloud concept provides for these three ‘layers’ of computing services to be delivered to users in a hosted and managed environment, saving the user (Governments and Enterprises large and small) from actually

having to buy the computer hardware and software licences. Sometimes, they are referred to as ‘private Cloud,’ sometimes ‘public Cloud’ and, when combined, ‘hybrid Cloud.’ Cloud touches us all today—Dropbox, Facebook, LinkedIn, iCloud, most games and many, many business applications we all use today are applications or services that are hosted in the Cloud. The benefit to consumers is that the service can be paid for as it is used, saving on the upfront cost of capital expenditure. However, the real beauty of a Cloud model and the reason for the applicability to responsibility is that computing infrastructure can be much more efficiently used by allowing multiple users, or ‘tenants,’ to share a common virtual computing infrastructure. In addition, Cloud tenanting and orchestration of services means that, if applied properly, the productivity benefits in a business environment can be significantly enhanced.

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CIOs can now provide a self-serve Cloud brokerage service that provides the BUs with the desired services while providing optimal service levels, all within an sensible cost framework.

This presents a unique opportunity for the Chief Information Ofﬁcer (CIO) of companies to structure the IT department around the concept of providing a Cloud brokerage service to all other departments within the organisation. Progressive CIO’s are developing this concept already. Rather than having the different departments or Business Units (BUs) pay cloud providers such as Google or Amazon Web Services for hosted applications, SaaS and data storage out of their own operating expenses (OpEx)—and perhaps not getting the cost beneﬁts of scale—CIOs can now provide a self-serve Cloud brokerage service that provides the BUs with the desired services while providing optimal service levels, all within an sensible cost framework. The winners therefore are the companies whose CIOs proactively embrace Cloud services by driving their IT departments to offer a brokered Cloud service, governed by migration policies for the BUs within a secure, structured service delivery

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framework—public, private or hybrid. Moreover, the beneﬁciaries in the IT supply chain are the Channel Partners capable of consulting on and assisting in the delivery of such Cloud migration and business innovation services. This means Channel Partners must increasingly evolve into providing vertical business specialisations. Generalist Channel Partners are likely to struggle at the expense of Domain Expert Channel Partners, selling into speciﬁc departments focused on their unique business function, and the Cloud service providers themselves who win on scale. This furthermore facilitates the workgroup

About the Author Gary Kinsley is Vice President, Channels, of ClouldFX, a Singaporebased Cloud and Business Transformation consultancy with ofﬁces around Asia and Australia.

Feature: Responsible Cloud?

and collaboration concept of users and Cloud business models, whereby the well-placed Channel Partner is a trusted advisor and is therefore well entrenched in their customers. Smart CIOs and BU heads making informed decisions on the technology available to them to best operate their businesses will increasingly use the expertise of specialist Cloud consultants to assist with transition and Cloud migration services, and the expertise of domain specialists in their given ﬁeld will be needed. Identifying Cloud-

CloudFX has operationalised, simpliﬁed and accelerated the journey to Cloud Computing for more than 900 Enterprises and Telcos, leveraging its own developed advanced

IP and multi-vendor Advances Services.

skilled consultants is thus a must, as is engaging domain experts around given industries that can no longer rely on hardware and software licences to maintain their business validity. They can sell their industry specialisations either in partnership with the Cloud consultants and Cloud service providers, or / and as application service providers in their own rights (purveyors of SaaS). In an industry dominated by clever, young mavericks, IT is suddenly looking remarkably responsible.

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Inheritance Tax Planning for UK Expatriates By Brendan Harper Planning for the future begins now. Here’s everything you need to know about inheritance tax for UK expatriates.

t often comes as a great surprise to British expatriates when they are informed that, in spite of living overseas, their estates remain potentially subject to UK Inheritance Tax (IHT). This is because UK IHT applies to your worldwide estate if you are UK domiciled. Your domicile is determined at birth (usually you take it from your father) and remains with you unless you take signiﬁcant steps to acquire a domicile elsewhere.

Unfortunately, if you intend to return to the UK at some point, or even if you don’t intend to return but do not intend to remain permanently in your current country of residence; you cannot change your domicile. This leaves your estate exposed to UK IHT which, after the deduction of a ‘nil rate band’ of £325,000, is levied at the rate of 40%. So what tactics can be employed to reduce or avoid the impact of IHT?

Your domicile is determined at birth and remains with you unless you take significant steps to acquire a domicile elsewhere.

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Transferable Nil Rate Band If your spouse is also UK domiciled and you leave all your assets to him/her on death, the transfer is exempt from IHT. Furthermore, the unused part of the nil rate band is transferred to the spouse’s estate, so that up to £650,000 can be left free of IHT on the second death. So, if your joint estate is less than £650,000, you need plan no further than ensuring that you have made a will to ensure that your spouse receives the estate.

Feature: Inheritance Tax Planning for UK Expatriates

IHT. This strategy can be relatively cost effective and means that you remain in control of your wealth.

Lifetime Gifting If you can afford to give money away during your lifetime, this can reduce the impact of IHT. A one-off capital gift to an individual is known as a ‘potentially exempt transfer.’ If you survive the gift by seven years, it will fall outside your estate for IHT purposes.

Insure the liability

There are several IHT exemptions that you can also take advantage of, including a £3,000 annual exemption, gifts in contemplation of marriage and gifts for a child’s maintenance or education.

If the estate is mostly covered by the transferable nil rate bands, the simplest form of planning may be to insure the liability. This involves paying premiums to a simple insurance policy written in trust, the proceeds of which will be used to pay the

Perhaps the most effective exemption is ‘Normal Expenditure Out of Income,’ which immediately exempts gifts provided they comply with the following conditions:

If your joint wealth exceeds this or you intend to leave assets to other beneﬁciaries, then further planning may need to be undertaken.

t They form part of your normal expenditure t They are made from income t You are left with enough income to maintain your normal standard of living If these conditions are met, unlimited gifts can be made that are immediately outside the estate for IHT.

Advanced Planning Usually, for a gift to be effective, it must be given outright to an individual. This results in two potential problems: what if you want to control when the beneﬁciary receives the money, and what if you also require some form of access to it? Both of these concerns can be dealt with by utilising specialist trust arrangements. There are various arrangements that can be used, depending on your speciﬁc circumstances, so seeking advice is essential. For example, if you want to save for

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If you can afford to give money away during your lifetime, this can reduce the impact of IHT. A one-off capital gift to an individual is known as a ‘potentially exempt transfer.’

About the Author Brendan Harper is Technical Services Manager for Friends Provident International. This article contains general information only and is not intended to be taken as speciﬁc investment or tax advice. Independent ﬁnancial advice is recommended.

retirement and are also worried about IHT on your savings should you die before the retirement date, a specialist trust, known as the ‘Future Beneﬁt Trust,’could be used that allows you to gift a series of savings plans into a discretionary trust, from which the settlor cannot immediately beneﬁt. Regular payments to the trust are treated as gifts and the fund is outside the estate for IHT in the event of death. An additional feature is that, on certain dates in the future—chosen at the outset by the settlor—the settlor becomes entitled to the savings plans. This allows him to draw down an income from retirement in the knowledge that, should

death occur in the meantime, a lump sum can be left to heirs free of IHT. The beneﬁts of this arrangement include: t Ability to remove wealth from the estate for IHT purposes t Ability to access wealth at a future date, thus providing retirement income t Ability to leave wealth free of IHT to heirs t Ability to control who beneﬁts and when.

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British High Commission

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Leadership and Partnership:

Helping the UK to Win in Singapore By HE Antony Phillipson There isnâ&#x20AC;&#x2122;t a formula for an effective leadership, but there are certain qualities that all leaders possess. What are these qualities and how can we harness them to improve the entire organisation?

was asked, for this edition of the Orient, to offer some thoughts on â&#x20AC;&#x153;leadershipâ&#x20AC;?.

I recently read an article about a series of interviews with the 2011/12 Clipper Round The World Yacht Race crews in order to address the key leadership and team challenges that they faced, whether it was possible to identify â&#x20AC;&#x2DC;winningâ&#x20AC;&#x2122; behaviours, and the implications within an organisational environment. They came up with some interesting conclusions that, while they were operating in a very different environment, seemed very familiar to what I spend a lot of time thinking about: t .BOBHJOH FYQFDUBUJPOT are we clear about what we believe can be done with the resources that we have

available? This cuts both ways in the sense of we should always be setting our sights as high as possible, but at the same time aiming for the unattainable is not motivating and lacks credibility. t $PNNVOJDBUJPO once we have established what can be done, can we convey this clearly, externally and internally, in a way that maximises impact and effectiveness. Itâ&#x20AC;&#x2122;s a pretty frantic world, with a lot of â&#x20AC;&#x153;noiseâ&#x20AC;?, how do we ensure our message stands out from the rest? t *OUFHSBUJPO we devote a lot of time to ensure that all the various teams here, including the British Council, are properly aligned and joined up. I am often struck that people see a big difference between the High Commission and the UKTI team, but we are all part of the â&#x20AC;&#x153;UK in Singaporeâ&#x20AC;?.

We must be clear about what we are trying to do, but we will have the best possible chance of achieving those objectives if our people are motivated and incentivised.

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British High Commission: Leadership and Partnership: Helping the UK to Win in Singapore

t "QQSPBDI in busy work environments, there is always a temptation to seek common denominator approaches in the interests of efďŹ ciency and time. But people are all different, their diversity is a strength, so we need to convey similar messages in different ways, to make sure we can land them with all in the organisation. t 'PDVT I have often seen it suggested that organisations can either be taskfocused, prioritising objectives and goals, or relationship-focused, emphasising the satisfaction and wellbeing of employees. Quite frankly, we must be both. We must be clear about what we are trying to do, but we will have the best possible chance of achieving those objectives if our people are motivated and incentivised. t 4VQQPSU this one is rather obvious; whether actually or metaphorically we are all in the same boat and we all need to support each other. I know that I rely heavily on those who work with me. t 5SVTU also rather obvious. Itâ&#x20AC;&#x2122;s hard to go out on a limb, or really push yourself, for someone you donâ&#x20AC;&#x2122;t trust whether you are a leader, or anyone else in the organisation for that matter. t 4MFFQ having seen the cabins on a Clipper yacht I can imagine that this one is really challenging for the crews. But itâ&#x20AC;&#x2122;s no less important for land lubbers, we have to ďŹ nd ways to make sure that individuals get to recharge their batteries on regular occasions, and that we keep the whole organisation refreshed and engaged.

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Since we are approaching our endof-year, I’ve been thinking a lot about what our priorities are going to be for the next few months. And when I say “our” I don’t just mean at the High Commission but also at the Chamber, because I think one of the most exciting developments in the last 12 months is the strengthening of the partnership between our organisations when it comes to supporting UK business in Singapore. The reason I mention it here is that, together, we are leading the way in the creation of a new model of business delivery through the Overseas Business Networks Initiative. Many of the points above are relevant to this, whether it’s

"CPVU UIF "VUIPS HE Antony Phillipson British High Commissioner

managing expectations in terms of being as ambitious as we can while remaining credible; getting the communication right to our stakeholders, internal (our staff, your members) or external (businesses in the UK who we want to pull into the market here); integration of our operations; and the support that we need to offer each other. In time, more and more services will be offered by the Chamber leaving us greater scope to focus on the governmentto-government aspects of the broader prosperity agenda. But there, too, we will be working with the Chamber to understand your members’ needs.

In fact I think there are myriad opportunities for us to enhance our partnership, which brings me to my last thought on leadership, which is the importance of “challenge” itself. If we are going to get the most from our resources then we need a culture in which we feel both encouraged and empowered to challenge ourselves, each other and the organisation we work for. The onus must be on everyone, particularly leaders, to be open to challenge and new ideas. In that spirit, I hope all at the Chamber will feel free to challenge us to do even more together, and I look forward to meeting that challenge head on to the overall beneﬁt of UK businesses in Singapore.

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Business Services News

Business Services Update 2014 By Jennifer Hainsworth An update on the progress of the Business Services Programme thus far and the road ahead in 2014.

he ﬁrst quarter of 2014 saw our Business Services Programme kick into high gear; we are anticipating further growth throughout the year.

We launched our Business Services Programme at the beginning of 2014 to further leverage on our role as the largest and most active Chamber of Commerce in Singapore and help UK businesses access a variety of opportunities in Asia’s most prominent business hub. So far, we have supported a number of UK companies to meet and strategically connect with selected companies and

organisations from our wide range of members. We have also eased the process of setting up their companies in the country through providing relevant information and direct assistance. At the beginning of the year, we launched our ‘Doing Business in Singapore’ webinar series to inform company members of UK Chambers of Commerce about the opportunities available to them in Singapore and the wider ASEAN region, and how we as a Chamber can help them access these opportunities. To date, we have run two webinars of this kind with Liverpool Chamber of Commerce and

Manchester Chamber of Commerce. We plan to run a further three this year—in May, August and November. The Great British Humber breakfast was a sizzling success, with great presentations from Hull & Humber Chamber of Commerce, including one by celebrity chef Rachel Green, who demonstrated at a live cooking station that Humber sausages are not just good for breakfast, they also make a fantastic Asian stir fry. We will be continuing to work with the Hull Chamber of Commerce over the next few months to bring more food and drink products to Singapore. We are reaching out to

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& Convention Centre. ECDIS Ltd are regarded as â&#x20AC;&#x153;the maritime industryâ&#x20AC;&#x2122;s most respected and fully approved ECDIS trainersâ&#x20AC;? and use a suit of simulators to train and accredit naval ofďŹ cers to navigate ships.

Staffordshire Chamber of Commerce and YBC at the Chamber ofďŹ ce

One of the highlights of the month for me has been working to support an innovative company, ShefďŹ eld Forgemasters, to launch their ďŹ rst Singapore ofďŹ ce. The launch, which took place at the iconic RafďŹ&#x201A;es Hotel, was a real celebration of their success and marks the strategic importance of Singapore as an Asian hub for offshore oil and gas and the energy sectors, for which ShefďŹ eld Forgemasters produced many of the major components. The R&D capability of this UK company is very impressive; they will certainly be a company worth keeping an eye on in Singapore and Asia over the next few months and years.

â&#x20AC;&#x153;Last but not least,â&#x20AC;? as they would say in Manchester, we held our second â&#x20AC;&#x2DC;Doing Business in Singaporeâ&#x20AC;&#x2122; webinar with the Manchester Chamber of Commerce, providing 10 companies with information about trading and doing business in Singapore. We are already working to support two of them, and I am pleased to learn that another has recently moved to Singapore, so expect to see more interactions from Manchester over the coming months.

Launch of ShefďŹ eld Forgemasters in Singapore

our members who may be interested in importing or using these products in their hotels, restaurants or shops. In March, our Young Professionals business group met with the Young Professionals network from the Staffordshire Chamber of Commerce, one of our MOU partners. This conversation opened the door for some great knowledge exchanges, tips and tricks about how to run innovative events, how to engage young professionals in different ways and how to help young professionals make the transition to another business group when they become more experienced.

On 17 Mar, the Professional Services group hosted a LinkedIn session, teaching members of the group how to make the most of the platform. This was a really fun and informative event, with some really great tips to improve your proďŹ le so youâ&#x20AC;&#x2122;re found more often, manage your endorsements, participate in groups and manage the number of alerts you receive. On 19 Mar, I supported UK company ECDIS Ltd to meet some of our members and was pleased to be invited to view their simulators in action at the Asia PaciďŹ c Marine trade show, which took place at Marina Bay Sands Expo

In April, I went to London to the British Chambers of Commerce Annual Conference, a great opportunity to interact with the global accreditation board, other colleagues from the overseas business network initiative and a chance to share best practices with other UK chambers. These are exciting developments for our new Business Services Programme, and we look forward to achieving further progress throughout the year! Please contact +FOOJGFS!CSJUDIBN PSH TH for assistance with your business needs and for general information about the programme. We look forward to hearing from you!

P R E S E N T S

15TH ANNUAL BUSINESS AWARDS ENTER THE COMPETITION TODAY! If you are a Singapore registered company or a business person and have implemented successful initiatives within Singapore, nominate your company in any of the nine categories to win. Visit our website at www.bccbusinessawards.com or call us at +65 6222-3552 for more information.

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At the Chamber

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Former Chamber President Steve Puckett Awarded the OBE by HM The Queen

ast President Steve Puckett received his OBE from the HM The Queen at the end of March, before heading straight to Chatham House in St James, to attend a lunch forum where Singapore’s PM Lee addressed leaders of London’s diplomatic and business community.

Commenting on his award Steve said “I’m delighted to receive this honour. I’m really fortunate to have had the support of many ﬁne individuals and teams of dedicated people over recent years, particularly while leading the Chamber of Commerce here in Singapore, but also

while chairing my profession and while in academic and charitable governance roles over the years”. Of the meeting with PM Lee, Steve added “The PM articulated Singapore’s values and systems that have positioned the country so effectively. He also offered opinions a wide range of international issues with a particular insightful focus on the development of ASEAN” Ms Judith Slater, Deputy High Commissioner and Director of UKTI Singapore said, “We are all delighted that

Steve has been awarded the OBE by Her Majesty. In his tenure as President of the British Chamber of Commerce, he worked tirelessly to deepen and strengthen the partnership between UKTI and the Chamber, both of whom are actively supporting UK businesses in Singapore. We wish him every success in his future endeavours.” 0O CFIBMG PG FWFSZPOF BU UIF $IBNCFS XF DPOHSBUVMBUF 4UFWF PO IJT PVUTUBOEJOH BDIJFWFNFOU

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At the Chamber: Business Group News

IT and Communications Technology Group Chairperson: Henry Farahar —Sales Director, CloudFX he consumerization of IT is now a widely accepted concept and we can see the impacts of this trend in the workplace and in our everyday lives. No longer is Skype only something we use to speak to family and friends; gone are the days (in most cases) Facebook, Twitter and LinkedIn are blocked from our work laptops. Having brought consumer grade technology into the workplace, the technology vendors are now bringing Enterprise level technology concepts into our home. This is the beginning of the revolution that is unfolding as the Internet of Things (IoT), our next focus for the ICT Business Group.

Technology will no longer be something

we just use; the onus being for us to turn it on or off, IoT is something we are not only involved in, we live in. Wearable computing, ﬁtness bands to monitor our heart-rates and fridges that re-order when the milk has run-out are just the tip of the iceberg when it comes to the revolution the connected world brings. This fascinating topic is one that will continue our thought leader evening events that started 2014 back in January with Pierre Nobel, Chief Security Ofﬁce at Microsoft. This year the ICT Business Group will continue to challenge the concept that technology is for ‘techies’, and that it is in fact the most important underlying topic in our lives while at work, rest and play.

This technological revolution that deeply permeates our existence day-in-day-out is what our group and activities aim to explain or at least introduce to the wider membership. We will be working in conjunction with other business groups on sector speciﬁc technologies such as Technology in HR, Marketing, Financial services and there are many more options so do let us know if you have any speciﬁc areas of interest and allow us to bring to earth what can be seen as obscure and inaccessible concepts. Let us help and enable you and your business to embrace the opportunities available from technology today, that or stay thinking your tablet is something you take when you have a headache….

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Property & Construction Group Chairperson: Richard Warburton —EC Harris Singapore Pte Ltd hat constitutes a Smart City and what requirements does this concept create in terms of current and future technological solutions? These were just two of the central themes explored at the ‘Smart Cities, Smart Living Mission’ that was hosted by the UKTI in Singapore in March.

Institution has sought to create some formal parameters through its PSA180 Smart City Terminology paper. It deﬁnes a Smart City as one where there is “effective integration of physical, digital and human systems in the built environment to deliver a sustainable, prosperous and inclusive future for its citizens.”

fossil fuel reserves on the decline, efﬁcient energy storage solutions for renewables not yet fully developed and the impact of some alternative energy sources still unclear, there is a need to think beyond just the technology Smart Cities require and focus on how we actually power them in the future.

With massive Smart City urban development programmes being planned or already underway in many countries across South-East Asia, this discussion was particularly timely and generated plenty of debate with a well-informed audience.

One thing that’s abundantly clear is that world-class infrastructure will be at the heart of any future Smart City. As we continue through this century of urbanisation and move increasingly towards technology enabled cities, the ability to provide sufﬁcient energy will be fundamentally important.

There’s no doubt in my mind that this area will create opportunities for British ﬁrms and that much of the innovative thinking will be developed and piloted across South-East Asia. Success may well come in how we collectively work together as an industry to make the Smart City vision a social, environmental and commercial reality.

One of the challenges so far has been the absence of a common deﬁnition of what constitutes a ‘Smart City.’ To address this challenge, the British Standards

Across Asia today there are 160 million people without permanent power. With

Building Networks Connecting Business Creating Opportunities

At the Chamber: Business Group News

Young British Chamber Chairperson: Zoë Marmot —Head of Communications, Asia Pacific, Cognita am delighted to take on the role of Chairman of the Young British Chamber (YBC) for 2014. As a committee member since 2012, I have watched the team grow and develop under Miles Gooseman’s enthusiasm for community engagement, mentoring young leaders of tomorrow and connecting businesses in Singapore.

I am extremely passionate about what the YBC stands for. We explore ways to encourage and engage with the under-40s professionals in Singapore.

Companies are provided opportunities through Chamber activities and networking to develop the skills of their up-and-coming employees by encouraging Chamber involvement. In doing so, the group is providing a forum for young professionals to connect and learn from each other. Our vision is to be seen as the business group that under-40 professionals want to be a part of within the Singapore business community, connecting them with like-minded individuals; to be

the premier group Singaporeans and expats can partner with in a professional environment. I will endeavour to achieve this mission and inspire our young professionals. They are our future. This month’s theme is sustainability. We should all be focused on sustainable and ethical business practices as well as delivering to stakeholders. Whether that’s as easy as recycling your water bottle, conducting a food drive or reducing your carbon footprint, we can each make an impact.

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At the Chamber: Sterling News

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At the Chamber: Corporate News

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At the Chamber: Corporate News Project Management Strategy Workshop (with 3D Printer exercise) This workshop focuses on the Project Management Institute (PMI) methodology and provides a comprehensive review of: È

Project management strategy

#VJMEJOH BO FšFDUJWF UFBN

3D printer technology with hands-on experience

The hands-on learning opportunity uses the upcoming technology “3D Printing” as a project model to develop a plan, then assemble a 3D Printer prototype. This practical application of Project Management provides a valuable team building exercise. For more details, please log on www.mwglobalconnect.com

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4FOJPS TUVEFOUT UP CFOFĹ&#x2013;U GSPN UIF POHPJOH TVQQPSU PG B OVNCFS PG #SJU$IBN members through the schools careers programme. Nov 2013 Work Experience Day saw 180 students in the work force with 90 companies. The school recently hosted a Careers Fair, where 650 students connected with more than 90 volunteer career mentors from backgrounds ranging from dancers and designers to economists and entrepreneurs. Students CFOFĹ&#x2013;UFE IVHFMZ GSPN IFBSJOH SFBM MJGF FYQFSJFODFT XIJMF UIF DBSFFS NFOUPST QSJODJQBMMZ Tanglin parents, enjoyed the opportunity to help students with their subject and university choices. To support Tanglinâ&#x20AC;&#x2122;s careers programme, please contact careers@tts.edu.sg

Signature range was awarded Singaporeâ&#x20AC;&#x2122;s most prestigious design accolade, the President*s Design Award Singapore. It is conferred by the President of the Republic of Singapore and jointly administered by Design Singapore Council and Urban Redevelopment Authority. With an appointment panel of expert jurors from both Singapore and overseas, the award SFDPHOJTFT FYDFMMFODF BDSPTT WBSJPVT EFTJHO EJTDJQMJOFT UIBU DPOUSJCVUFT TJHOJĹ&#x2013;DBOU EJĹĄFSFODFT to the community and improves the quality of life. 5IF SFĹ&#x2013;OJOH GBDUPS SFWPMWFT BSPVOE QSPEVDU EFTJHO JNQSPWFNFOU BOE FGĹ&#x2013;DBDZ UP USBOTMBUF PQUJNBM CFOFĹ&#x2013;UT BOE WBMVFT UP FOE VTFST %FTJHOFE XJUI B TMFFL DVSWZ BOE FEHZ PVUMPPL 4JHOBUVSF SBOHF Ĺ&#x2013;UT JOUP UPEBZĂ T CVTJOFTT BSFOB PG TFSWJDF FYQFSJFODF BOE BFTUIFUJDT BQQFBM

Looking Down on Leaders: A Birdâ&#x20AC;&#x2122;s Eye View of Business and Bosses contains numerous strange but true leadership stories. â&#x20AC;&#x153;An entertaining romp through corporate life that covers pithy truths in a sugar coating of funny, memorable anecdotes.â&#x20AC;? (Kirkus) â&#x20AC;&#x153;A book to be enjoyed in one sitting or one delicious little bite at a timeâ&#x20AC;Ś this amusing guide to leadership elicits laugh-out-loud moments while imparting a true sense of what it takes to be a great leader.â&#x20AC;? (Foreword Clarion)

"T UIF PĹĄTIPSF JOEVTUSZ NPWFT UPXBSET FWFS NPSF SFNPUF BOE FYUSFNF MPDBUJPOT QSPEVDU EFWFMPQNFOU Ĺ&#x2013;SN $BNCSJEHF $POTVMUBOUT JT EFNPOTUSBUJOH %SPQ5BH BOE 5SBDF UXP OFX monitoring technologies that deliver breakthroughs in low-cost, low-power condition monitoring and indoor location tracking. DropTag uses a compact â&#x20AC;&#x2DC;puckâ&#x20AC;&#x2122; attached to goods before shipping to log information about conditions during the journey. It then automatically and securely transmits this back to base, allowing an early proactive response to any incident. Trace provides accurate information on the location of people indoors, even without external signals such as GPS or radioâ&#x20AC;&#x201D;and it doesnâ&#x20AC;&#x2122;t need any existing internal infrastructure.

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At the Chamber: Corporate News Rolls-Royce Motor Cars has named Eurokars Group as its %FBMFS PG UIF :FBS JO BŝFS B DPNQFUJUJPO BNPOH 20 other dealers in the region. Eurokars was lauded for JUT FYDFQUJPOBM SFTVMUT JO UIF BSFBT PG TBMFT BŝFSTBMFT BOE bespoke. In addition, the Singapore dealership received a Bespoke Sales Award, making Singapore a leader for Bespoke sales and Bespoke for Phantom cars. Karsono Kwee, Executive Chairman for Eurokars Group, commented, “I wish to thank our loyal customers who have supported us. We know that Rolls-Royce customers demand nothing less than pinnacle service.”

From 17 to 19 Sep, the Singapore Management University is organising the Women and Leadership Programme, which will shed a light on personal strategies that every woman should possess to succeed in various industries. Aside from participating in panel discussions with senior women leaders and internationally renowned faculty and guest presenters, participants will also receive a personalised brand assessment report at the end of the programme. By utilising case studies, videos and live negotiation simulations, this SGD$5,000 programme is set to take women leaders to the next level. For more information, contact Paul Li at paulli@smu.edu.sg or +65 6808 5389.

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Asiaâ&#x20AC;&#x2122;s leading business space solutions provider, Ascendas is developing OneHub Chennai, an integrated industrial township located 50km south of Chennai city centre in Tamil Nadu, India. The township is a joint venture development between Ascendas, leading Indian real estate developer, Ireo and a Japan Consortium comprising JGC Corporation and Mizuho Bank. The 1,450-acre OneHub Chennai will integrate industrial, business, commercial and residential facilities with lifestyle amenities and eco-friendly infrastructure to facilitate the growth of international businesses in India. Well-connected to the Chennai Airport, railway network and major sea ports, OneHub Chennai is ideal for automotive, electronics, food & beverage and consumer goods industries. Leading Japanese companies, Ajinomoto, Hitachi Automotive Systems and 5BLBTBHP BSF Ĺ&#x2013;STU DVTUPNFST JO UIF UPXOTIJQ 8IFO DPNQMFUFE UIF UPXOTIJQ XJMM support a community of more than 140,000 people.

The Economistâ&#x20AC;&#x2122;s Innovation Summit, 10 Oct, JW Marriott Hong Kong Innovation. A topic much covered and talked about. In its Innovation Summit, The Economist explains answers to vital questions around innovation. This high-level event will convene business and government leaders as well as leading thinkers on the subject. For the programme and speaker faculty, please visit www.economistinsights.com/innovation2014/ The summit will be preceded The Economistâ&#x20AC;&#x2122;s Innovation Awards. This global initiativeâ&#x20AC;&#x201D; DPNJOH UP "TJB GPS UIF Ĺ&#x2013;STU UJNF JO UIF BXBSETĂ ZFBS IJTUPSZÂżTIPXDBTFT DSFBUJWF individuals who dream up new ideas and turn them into reality. This event is by invitation only.

Globally, the business landscape is constantly being reshaped by a combination of market volatility, globalisation and transformational innovation; compounded by rapid advances in science and technology and disruptive new business models. 5IFNFE Ă&#x20AC;'VUVSF QSPPĹ&#x2013;OH #VTJOFTT BOE UIF "DDPVOUBODZ 4FDUPS Ă UIF "$$" "OOVBM Conference 2014 will explore the impact of rapid digitisation on businesses and the accountancy sector through the voices of futurologists and thought leaders, including PVUTUBOEJOH SFTFBSDIFST JO UIJT Ĺ&#x2013;FME +PJO VT UP IBSOFTT JOUFSFTUJOH JEFBT QSFTFOUFE CZ experts and share your views on matters facing businesses and the accountancy sector. More information on www.accaannualconference.sg. Date & Time: 12 May 2014 (Monday); 9amâ&#x20AC;&#x201C;5:30pm 7FOVF 3BGĹ&#x2014;FT $JUZ $POWFOUJPO $FOUSF

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At the Chamber: BritCham New Members

BritCham New Members Corporate SME Progress - U Pte Ltd Mike Hughes Managing Director, Singapore CloudFX Henry Farahar Sales Director Par-ex Pte Ltd Paul Wilson Director Naos International Martin Laidler-Laursen Senior Consultant, Regional MD

Corporate Representative (Voting) Samuel Seow Law Corporation Dimple Banghar Foreign Legal Associate Freshﬁelds Bruckhaus Deringer Stephen Revell Partner

RHTLaw Taylor Wessing LLP Lee Bagshaw Foreign Lawyer/Senior Legal Counsel Timeo-Performance Pte Ltd Alex Lanjri Training & Development Manager, APAC Pickering Paciﬁc Pte Ltd Jacques Pickering Managing Director

Sterling Jaguar Land Rover Limited Russell Anderson Managing Director, Asia Paciﬁc Importers

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At the Chamber: 4LTILYZ» 6MMLYZ

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4LTILYZ» Offers

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20% off our public courses throughout April and May 10% discount off tickets for Asia Premiere of “YES, PRIME MINISTER” from 1 May onwards until the end of the run on 18 May 10% Discount for One – Four Bedroom Ocean Facing Pool Villa 20% off strategic meeting facilitation fees in 2014 10% discount on facilities and services at City Serviced Offices 9 Raffles Place, Levels 57-58 Republic Plaza & Levels 17-18 Republic Plaza II 5% off electrical & 10% off furniture at Courts

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The session focused on why women should support women as well as the reasons why this can be frequently overlook by high achievers. Diane shared her personal experiences and how female leaders can actively support female talent. She provided some practical examples on how she has developed female leaders within her current organisation and across the course of her career. Diane also talked about the role of other women in her career, and provided her view on why the need for reliable female networks and supporting other women is too often underestimated. This was followed by an active Q&A session where many related questions were answered.

Diane Eshleman, Chief Procurement OfďŹ cer, Barclays

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<2 7YVWLY[` Hotspots - How (ZPH IHZLK 0U]LZ[VYZ *HU (JJLZZ 2L` High Performing UK 7YVWLY[` -LIY\HY` In this seminar Peter shared insights into the UKâ&#x20AC;&#x2122;s buy to let market, highlighted key insights into the current trends, where the key â&#x20AC;&#x2DC;hotspotsâ&#x20AC;&#x2122; are and the how to enter into an ever increasing competitive marketplace. Peter also shared some of his practical tips on his Far East tour, his experience, investment know-how and more importantly his â&#x20AC;&#x2DC;top-tipsâ&#x20AC;&#x2122;.

> Peter Grant - CEO/Founder, Grant Property

Financial Crime: :LL 0[ -PYZ[ :LL 0[ ;OYV\NO 4HYJO Members and guests were informed of techniques for interweaving ďŹ nancial crime strategy into the growth strategy of the wider business. The presentation focused on dealing with the risk of ďŹ nancial crime that accounts for its entire lifecycleâ&#x20AC;&#x201D;from compliance, prevention, and detection through investigation, remediation, monitoring, and testing.

> Tom Scampion - Partner, Deloitte UK

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Building Networks Connecting Business Creating Opportunities

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Talent Retention or 5HPSPUN H 1LSS` [V [OL Floor â&#x20AC;&#x201C; Which Seems [V IL /HYKLY& 4HYJO This was in interactive session which focused on laying down a robust retention framework that can help companies address this business challenge immediately. Ray addressed some key overriding contributory factors to the problem but are in the most part overlooked. He also shared some tools and processes of â&#x20AC;&#x2DC;Career Engagementâ&#x20AC;&#x2122; for talent retention with members and guests.

Ray Bigger - Managing Director, Think8 â&#x20AC;&#x201C; Productivity Architects

7V^LYM\S *VTT\UPJH[PVU 0U The Global Market *YLH[PUN H 7LYZ\HZP]L Message to Win More )\ZPULZZ 4HYJO This seminar addressed the topic of effective communication. Attendees learnt how to improve their own approach to communication with a few practical tips on how the best companies engage their customers and achieve fantastic results, particularly through the use of persuasive writing.

Neil Stoneham - Director, Voxtree Ltd

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;OL 35. 4HYRL[ Changing Commercial 4VKLSZ 0TWHJ[ VU Financing 4HYJO The session gave an update of the LNG market worldwide, as well as the various commercial models utilised in the structuring of LNG projects. Attendees learnt about appreciation of supply/demand balances, the scope of the industry and the challenges ahead. Ashley also shared that Asia is a linchpin in the LNG market, given the demand proďŹ les of Japan, Korea, Taiwan and growing demand from China and India.

Ashley Wilkins - Deputy CEO & Head of Global Finance, Asia PaciďŹ c, Societe Generale

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Following the LinkedIn presentation last September which gave members an overview of what LinkedIn can provide in terms of â&#x20AC;&#x2DC;making relevant connectionsâ&#x20AC;&#x2122; this lunchtime session got members to discuss the â&#x20AC;&#x2DC;howâ&#x20AC;&#x2122; to reach out and connect with new and existing contacts. Some basic steps like how to set up your proďŹ le, ďŹ nd the right people, how to position yourself, what to write, message construction, doâ&#x20AC;&#x2122;s and donâ&#x20AC;&#x2122;ts all designed to enable members to start using LinkedIn effectively, were shared by LinkedIn team.

Alvin Kan and Phillip Dunne, Customer Relationship Managers

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Challenging Climates: ;OL 6\[SVVR -VY ;OL 6PS (UK .HZ 0UK\Z[Y` 0U -LIY\HY` At this event, Ernst shared the DNV GLreport â&#x20AC;&#x201C; which was a snapshot of industry conďŹ dence, priorities and fears, based on a survey of more than 430 senior sector professionals and indepth interviews with industry executives. The report investigated the key trends that look set to shape the sector in 2014, including the impacts on the oil and gas industry of rising conďŹ dence in the potential of natural gas, the drive to consolidate suppliers in order to reduce operating costs, and the internationalisation of national oil companies.

Ernst Meyer, Vice President & Regional Manager South East Asia , DNV GL Oil & Gas

5L^ 4LTILYZÂť Networking Evening 4HYJO This event is organised periodically by invitation only for new members to interact with current members of the Chamber. This event gives them a platform to ask questions and to learn more about the Chamber and its members in an informal setting.

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2014 BritCham Events: Mark Your Diary

At the Chamber: Events Calendar

BritCham Breakfast Club Wednesday May 07, 2014 Customer Experience, How To Survive In The 21st Century? Friday May 16, 2014 Leadership In Asia: HR Challenges in todays world with particular focus on Asia region Tuesday May 20, 2014 Innovation & Trends In Social Media Tuesday May 27, 2014 Private Investments In Property In Asia And The Resultant Tax Considerations Tuesday June 03, 2014 Asian Shipping And Airlines: The chalenges of matching market growth Friday June 13, 2014 Leadership Monday June 23, 2014 The Future For Gas In China: The outlook for Production, Consumption and Trade

Networking Wednesday May 28, 2014 How To Harness The Internet Of Things?

Business Group Working Lunch Friday June 13, 2014 Shakespeare In The Park - The Merchant Of Venice

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Special Event Wednesday May 07, 2014 Singapore Customs: Avoiding Financial Penalties And Delays With Advance Export Declaration (AED)

BritCham 60th Anniversary Wednesday April 23, 2014 Eden Hall

Annual General Meeting Thursday May 08, 2014 Eden Hall

F1 Networking Thursday September 18, 2014 Tower Club, Republic Plaza

BritCham Annual Business Awards 2014 Wednesday October 01, 2014 Shangri-La Hotel, Singapore

BritCham Ball 2014 Saturday December 06, 2014 Shangri-La Hotel, Singapore

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Culture & Lifestyle

10 Things You Should Know About Shakespeare More than four centuries after his demise, the Bardâ&#x20AC;&#x2122;s works are still celebrated around the world. Here are a few intriguing facts about his everlasting legacy.

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he world’s most famous—and probably the most revered— playwright turns 450 years old on 23 Apr. With an easy ﬂair for romantic poetry and a penchant for dramatic plot twists, William Shakespeare created works that will probably outlive us all.

To commemorate Shakespeare’s birthday, here are 10 interesting things you should know about the Bard:

1. He got married at the tender young age of 18. Shakespeare was born in the town of Stratford-upon-Avon and had seven siblings. He married Anne Hathaway, who was eight years his senior (and three months pregnant) when he was 18. You can still visit Shakespeare’s childhood home and his wife’s home today as they have been preserved.

2. He was not eligible to attend university because he was married. As a married man in those times, Shakespeare was not qualiﬁed to attend university. He was also barred from taking up apprenticeships with established trades. Fortunately, that paved his way into acting and writing plays, as these occupations were more ﬂexible about entry requirements.

3. He had a family crest. The family name has been immortalised in a coat of arms: a yellow spear superimposed on a yellow shield, with the Latin words ‘Non Sans Droict’ (which means ‘Not Without Right’) underneath. The crest would have been displayed on the front door of the family home and on personal items. Male family members could also include the word ‘Gentleman’ after their names. How very digniﬁed!

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4. He built his own theatre, the Globe, in 1599. Shakespeare’s theatre company, The Lord Chamberlain’s Men, established the Globe in 1599. Sadly, the theatre was gutted in a ﬁre on 26 Jun 1613. The contemporary Shakespeare’s Globe in Southwark, London, pays homage to its predecessor by retaining the outdoor circular stage surrounded by three tiers of seats.

5. He wrote a total of 37 plays. A versatile writer who was 101% committed to his craft, Shakespeare’s works run the gamut from historical romances to lighthearted comedies to dark, gloomy tragedies. He also composed a total of 154 sonnets.

6. He performed his plays for royalty. Shakespeare’s talent for weaving compelling stories was greatly admired, and he grew to be recognised as a famous poet and playwright in the last years of Elizabeth I’s reign, frequently staging special performances of his plays for the Queen.

7. He had a powerful name, even if it might not be spelled correctly. During Shakespeare’s lifetime, his name was spelled in more than 80 different ways. While he did scrawl his name on his manuscripts, there were a wide variety of signatures, like “Willm Shakp” and “William Shakspeare.” Nonetheless, the name is most likely derived from the Old English words “schakken” (brandish) and “speer” (spear), which describe an assertive, argumentative person.

8. Shakespeare never published any of his own plays. Was this a cunning way for him to make sure his ideas and plays were copyrighted? The reasons for this are still unclear. After his death in 1616 (which coincidentally happened on his birthday), his friends John Hemminges and Henry Condell compiled the First Folio, entitled Mr William Shakespeare’s Comedies, Histories, and Tragedies, which came with a copper-engraved image of the Bard on the cover.

Culture & Lifestyle: 10 Things You Should Know About Shakespeare

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9. Some say he does not exist.

Some agree that he [Shakespeare] might not have been fully original, and probably collaborated with other writers.

About the Author Get another dose of Shakespearean vocabulary at Singapore Repertory Theatre’s (SRT) annual Shakespeare in the Park series. This year, SRT presents The Merchant of Venice, an

He might be a prominent ﬁgure then and now, but Shakespeare lived a life shrouded in mystery and controversy. Till today, there are doubts as to whether he actually existed. Some believe “William Shakespeare” was a pen name for a group of authors who wished to conceal their true identities. While many scholars and historians are skeptical of this theory, some agree that he might not have been fully original, and probably collaborated with other writers.

intriguing tale about the cost of justice and mercy. The play runs from 30 Apr–25 May at Fort Canning Park. Tickets available from SISTIC (www.sistic.com.sg).

10. More than 1,000 words and phrases he coined are a part of today’s lexicon. The Literature Encyclopedia asserts that Shakespeare is the second most quoted English writer after the writers of the Bible. The words and phrases he dreamed up that are commonly used today include “fashionable” (Troilus and Cressida), “wild goose chase” (Romeo and Juliet), “I will wear my heart on my sleeve” (Othello), and “all that glistens is not gold” (The Merchant of Venice).

British Chamber of Commerce Singapore, 138 Cecil Street, #13-03 Cecil Court, Singapore 069538, Phone: +65 6222-3552 | Fax: +65 6222-3556 | Email: katie@britcham.org.sg