Orient Issue 26 by BritCham Singapore

T H E O F F I C I AL MAG AZIN E OF TH E BRIT IS H CHA MBER OF COMMERCE - S IN G AP ORE

I S S U E 26 : AU G U S T  S E P T E M B E R 201 0

w w w.britcham.org.sg

FEATURE:

SOCIAL MEDIA IN BUSINESS: USES & IMPACT

HEADLINE:

BRITCHAM MEMBERS SURVEY 2010 KEY FINDINGS

INSIDE BRITAIN

ON YOUR MARKS, GET SET, GO! LONDON 2012

building networks connecting business creating opportunities

Contents

8 - 10

BritCham Members Survey 2010 – Key Findings

Presidents Message

Headline

Summary results of 2010 British Chamber of Commerce member’s survey

Aug/Sept Feature – Social M edia & Business

Evolution of Social Media Technology: How it impacts businesses – Microsoft

The business use of social media – Eastwest PR

The evolution of social media and its impact on business today – Vocanic

How can businesses utilise social networks & what may be Legal implications – Stephenson Harwood

100 - 17

August/September Feature Topic: Social Media & Business, uses & impacts

Inside Britain

On your marks, get set, GO! – UKTI

Economic and Business Insights

Emergency Budget 2010 – FryGroup

Making the right moves for your family – iPac

Video conferencing – living up to the hype in the realities of today’s world – Cable & Wireless

20 - 21

Inside Britain – On your marks, get set, GO!

42 - 43

Member Feature – Celebrating 160 years of the Boots brand & RBS Coutts: Celebrating the Contributions of Women in Asia

EDITORIAL

What we do and the consequences – Association of Business Executives

High Commission News

British High Commission News August 2010 and UKTI Calendar

BritCham

Chamber news updates August – September

British Dragon boat team

BritCham Even Calendar

New Members

Members Oﬀers

M ember Feature

Celebrating 160 years of the Boots brand

Celebrating the Contributions of Women in Asia – RBS Coutts

Editor: Sebastien Barnard

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

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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. All rights reserved. No reproduction of articles without the prior permission of the Chamber. Unsolicited transparencies ad articles are sent at owners’ own risk and the Chamber accepts no liability for loss or damage. orient 1

Contents

BritCham Events - British Chamber of Commerce 15th Annual Corporate Golf Tournament

Wine Club: Pinot on the Rise – Rubicon Reserve Wines

Members – Sterling News

Sterling News

BritCham Events

BritCham Annual Corporate Golf Tournament 2010

Leaders in Business Lunch: Sir Robert Alan Fry KCB, CBE

Young British Chamber of Commerce Committee: ‘Dragon’s Den’

BritCham/UKTI Brieﬁng: Doing Business in Vietnam

BritCham/UKTI Brieﬁng: Doing Business in Indonesia

BritCham Breakfast Club: Piracy in the shipping industry

BritCham Breakfast Club: The Macondo ﬁeld blow out, consequences for the regional oil and gas industry.

Members - Corporate News

Corporate News

Destination

Cebu’s Endangered Gems - BBC

Wine Club

Pinot on the Rise – Rubicon Reserve Wines

BRITISH CHAMBER OF COMMERCE, SINGAPORE SPONSORS PLATINUM SPONSORS

GOLD SPONSOR

SILVER SPONSORS

BRONZE SPONSORS

BREAKFAST CLUB SPONSOR

BRITCHAM WINE SPONSOR

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Pr e s i d e n t ’s M e s s a g e Dear Members, D This edition of your Orient magazine Th features a focus on Social Media and fe Business. The theme is particularly Bu timely as we have a team deeply engaged tim in developing the new and upgraded Britcham website, which now is part of a Br broader initiative to review and enhance br our communications with members. ou Enhanced communications will not En be a quick fix, rather I hope that the improvements will be seen as the months go by and that this will be an area we continue to evaluate and upgrade. This initiative will also address some of the very useful feedback received through the recent membership survey. As usual the summer months have been quieter, as many members have travelled on vacation. That said, the Leaders in Business lunch with Sir Robert Alan Fry, Chairman of McKinney Rogers and former joint head of Coalition Forces in Iraq, commanded the attention of a room filled to capacity at the Raffles Hotel with his insights from the battlefield to the boardroom. The recent breakfast seminars jointly initiated with UKTI on business opportunities in the region have also proved a success, with lively sessions on Vietnam and Indonesia being well attended. This series will continue throughout the year as part of an effort to leverage our strengthening ties with the British business communities throughout Asia.

movement, concern was expressed about overheating and the prospect of inflation. However growth here is in stark contrast to the return to double figures in US unemployment and talk of the economy there slipping back into recession. It is this volatility and uncertainty that is behind Singapore’s continuing initiatives to improve productivity. Following the success of the SPUR training programmes, which benefited several of our members, Singapore’s new broad-based tax concession scheme the Productivity and Innovation Credit (PIC) focuses on upgrading skills, encouraging innovation and enhancing productivity. Tax credits are available to cover around 40 percent of qualifying expenditures on R&D, design work, new IP, automation and for training. Our British Chamber of Commerce Business Awards, produced in collaboration with UKTI, will include productivity, innovation and creativity in its reshaped award categories. Awards finalists can expect to receive recognition in the media as well from their peers in our business community. I hope that many of you will have nominated and will attend our prestigious event in October. This month sees Singapore hosting the Youth Olympic Games and a buzz is building as the teams arrive. We wish the British team every success and we wish that all the teams enjoy their own successes and the experience of competing in Singapore. September will see our first major business delegation overseas led by Paul Madden our High Commissioner, as a group of members travel to Shanghai for the Expo. I look forward to sharing the experience of being part of this delegation with you on my return.

Your personal hard copy of the new Membership Directory is now available and members will soon benefit from a searchable user-friendly interface in the Members section of our upcoming website. I hope you find the Directory useful, as Connecting Businesses is one of major aims. Singapore’s business outlook is once again looking bright with quarterly GDP growth back in double figures, a level it has not seen for many years. Indeed at recent tripartite meetings between Singapore’s government, the employers’ federation and the union

BRITCHAM BOARD: PRESIDENT: Steve Puckett - Tri-Zen International VICE-PRESIDENTS: Chris Claridge – TCP Group Chris Davies TREASURER: Peter Allen - Paciﬁc Century Regional Development HONORARY SECRETARY: Hugo Walkinshaw - Deloitte Consulting, SE Asia EX-OFFICIO: Amanda Brooks - British High Commission Mark Howard - British Council BOARD MEMBERS: Alan Goodyear Andrew Wine David Conway Emma Boyd Ingrid Child John Horsburgh Kevin Burke Nick McGylynn Philippe Touati Pek Hak Bin Richard Burn Roman Scott Stephen Crisp Simon Wilson 44 oorri e i ennnttt 44 oorriieen t

RBS The Insight Bureau Pte Ltd Jupiter Asset Management Limited Ernst and Young Solutions LLP HSBC Singapore Rolls Royce Singapore Pte Ltd Barclays Bank PLC British Airways Standard Chartered Bank BP Singapore Pte Ltd Diageo Calamander Group BT Singapore Markel International

Steve Puckett President British Chamber of Commerce, Singapore

COMMITTEES: Events: Philippe Touati Membership: Simon Wilson (Outgoin) Andrew Vine (Incoming) Corporate Social Responsibility: Steve Puckett External Affairs: Terry O’Connor Marketing & Communications: Chris Davies Young Professionals: Miles Gooseman BUSINESS GROUPS: Energy & Utilities: Damian Adams Entrepreneur & Small Business: Richard Ayres Financial Services: David Conway IT and Communications Technology: Richard Richardson Professional Services: Tulika Tripathi Media & Marketing: Fiona MacKinnon Shipping, Transport & Logistics: Neil Johnson MANAGEMENT TEAM: Executive Director: Brigitte Holtschneider Events & Business Group: Tiffeny Kua Marketing & Communications: Sebastien Barnard Membership Manager: Katie Hudson Membership Support: Rabiatul Adawiyah Accounts: Emmeline Ng

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AirAsia gains competitive advantage with unique FX currency solution

The Client’s Challenge To remove exchange rate uncertainty for AirAsia’s online customers, to enhance the convenience and transparency of their electronic ticket sales platform and to limit the company’s exposure to FX ﬂuctuations.

Our Response Our long-term relationship with AirAsia in aircraft financing, currency risk management and interest rate risk management, has given a unique insight into its business, which enabled us to tailor a solution to fit its needs. RBS expanded and tailored our already leading FXmicropay solution to specifically fit the challenging, multiple-currency requirements of AirAsia, allocating cross-border teams to work with all key stakeholders in an extremely tight timeframe to put in place a solution that met the client’s objectives.

The Result With the risk of currency fluctuation removed from electronic ticket purchases across a comprehensive range of specific local currencies, AirAsia now benefits from a valuable competitive advantage. Online customers enjoy a much improved, more transparent experience and the company recently received Skytrax’s ‘World’s Best Low Cost Airline’ award.

rbs.com/gbm

This advertisement has been prepared for information only. It should not be construed as an offer to sell or the solicitation of an offer to subscribe for a product or service. The Royal Bank of Scotland plc is authorised and regulated by the Financial Services Authority in the United Kingdom. Registered Ofﬁce: 36 St Andrew Square, Edinburgh EH2 2YB. Registered in Scotland No. 90312. The Royal Bank of Scotland N.V. is incorporated in the Netherlands. The Royal Bank of Scotland plc and The Royal Bank of Scotland N.V. are authorised agents of each other in certain jurisdictions.

Sterling Members

BRITISH CHAMBER OF COMMERCE, SINGAPORE STERLING MEMBERS

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share in our success Royal Skandia in Singapore is a premier provider of offshore investment solutions within Skandia International. We offer access to a wide range of assets from a large number of third-party fund managers and other organisations. We have extensive experience in providing services for international investors. But don’t just take our word for it. Financial services experts at ‘International Investment’– the authoritative UK magazine for international advisers – have just judged Skandia International the very first winner of their new award in 2009: Best International Provider – Far East. Skandia International are also proud winners of their Best International Life Group and Best Commitment to Service awards. If you’d like to invest with a leading company that really understands the needs of international investors, ask your financial adviser how you can share in our success.

Skandia International is the divisional name for the international group of companies within the Skandia Group. Calls may be monitored and recorded for training purposes and to avoid misunderstandings. Royal Skandia Life Assurance Limited (Singapore Branch), Level 25, North Tower, One Raffles Quay, Singapore 048583. Phone: +65 6622 5406 Fax: +65 6622 5400 Registered in Singapore number T08FC7158E. Authorised by the Monetary Authority of Singapore to conduct life assurance business in Singapore. Member of the Life Insurance Association of Singapore. Member of the Singapore Finance Dispute Resolution Scheme. Royal Skandia Life Assurance Limited is registered in the Isle of Man under number 24916C. Registered and Head Office: Skandia House, King Edward Road, Onchan, Isle of Man, IM99 1NU, British Isles. Phone: +44 (0) 1624 655 555 Fax: +44 (0) 1624 611 715. Authorised by the Isle of Man Government Insurance & Pensions Authority.

building networks

Headline

SUMMARY RESULTS OF OF COMMERCE M D

uring May and June 2010 the British Chamber of Commerce, Singapore commissioned Kadence Asia Pacific, an independent market research company based in Singapore, to undertake a short survey of current members to explore to what extent the British Chamber of Commerce is engaging with and satisfying its members. The survey looked at understanding how Chamber members perceive the services provided and to identify any unmet needs within the membership base. In total 151 members of the Chamber were contacted by Kadence, spanning a representative range of membership types and also a range of company types in terms of industry, size and ownership. Reasons for joining BritCham The Chamber office and Board wanted to better understand the drivers / reasons why companies and individuals joined the British Chamber of Commerce as this could better define what expectations members may have and the role they believe the Chamber should be fulfilling. It was clear from the survey results that the overwhelming majority of members joined the Chamber to meet and network with fellow British nationals and business professionals. The Chamber was also seen as a platform to grow and develop member businesses and to enhance the profile of their company within the Singapore business community. These drivers for joining the Chamber nicely mirrored the Chambers overriding goals of building networks, connecting business and creating opportunities. Satisfaction with BritCham We asked members to value their satisfaction with the Chamber’s ability

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to meet expectations when joining or remaining a member. Although expectations of members were generally being met, it was felt that more needed to be done to exceed expectations and really drive satisfaction levels higher. Improvements of the Chamber’s services It has been two years since the last membership survey, (which had generally put a stamp of approval on the Chamber’s activities) and so we were interested two years on to know if members had seen improvements in the Chamber’s services in the last 24 months. The findings revealed that whilst very few members perceived a decline in services within the last 24 months, equally few perceive any great improvements. Those who have seen improvements within the Chamber’s offering tended to have been impressed by Chamber events, followed by our marketing and communication. Support & Services The British Chamber of Commerce is always exploring ways to enhance its membership offering, so we asked members what types of support and services they would like to receive from the Chamber. Unsurprisingly, in line with the main reason companies and individuals join the Chamber; the highest mention was for more networking opportunities. Members expressed a wish to see a balanced split of social versus business events. Mentioned were more informal drinks and sporting related events. Members were also keen on networking for specific industries, for example investment and corporate banking. Members were keen to see more

content driven opportunities in the form of industry specific talks, for example; design & construction, marketing, property, corporate finance, and advice and knowledge sharing on issues ranging from government and statutory policy to taxation and finance. Conclusions The British Chamber of Commerce membership survey 2010 provided some useful insights and direction. Chamber performance is steady, in that there is a slight improvement in services in the last 2 years. Expectations are generally being met and there is little overt dissatisfaction. 80% of members have attended an event within the last 2 years, so there is engagement. We were however keen to understand how the British Chamber of Commerce can improve. From the survey this seemed to be in the area of increased networking possibilities through more creative means, (speed networking, match-making). Increased variety in terms of, the timing of events, (more lunchtime and dinner meetings). And more informal event venues which it was felt will ease networking and provide the Chamber with a more fun / younger dynamic. For the full survey results please visit the member’s area at www.britcham.org.sg

The 2010 BritCham Membership Survey was conducted & sponsored by:

www.britcham.org.sg

2010 BRITISH CHAMBER MEMBER’S SURVEY REASON FOR JOINING BCC

IMPROVEMENTS

SUPPORT NEEDED

BRITCHAM EVENTS BCC OFFERINGS

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creating opportunities

Fe a t u re : B u s i n e s s & S o c i a l M e d i a

EVOLUTION OF SOCIAL MEDIA TECHNOLOGY HOW IT IMPACTS BUSINESSES By Andrew Pickup, COO, Microsoft Asia Paciﬁc A Digital Decade

While it’s impossible to precisely predict what digital treasures the coming year will unearth, it is possible to observe the trends that will have the most inﬂuence.

democratize communications by giving all participants a voice – be it word-ofmouth, a blog or a social networking site. The internet opens up the power of inﬂuence to the public.

Catalysts for Change

In a 2001 essay, Bill Gates dubbed the next ten years the ‘Digital Decade’ - the beginning of the PC revolution. Advances in technology, he predicted, would bring the power of the personal computer to even more people and businesses, transforming the way we think about computing and its role in our lives. He wrote: “The power of the PC will be as ubiquitous and reliable as electricity, and vastly more useful than any single device we use today.” Seen through this long lens, the irrepressible changes we’ve seen in computing represent nothing short of a revolution. Incremental advances are also serving as the catalyst for the ‘evolution’ of business. Such is the pace of change - the evolutionary wheel turns another rotation each year. The evolution of business is accelerating as we experience the growing power of digital media. More than ever, technology and content are coming together in extraordinary ways across new online platforms, creating ground-breaking avenues for businesses to engage directly with their target audiences. Take Twitter for example. Unheard of before 2007, it is now a trusted online communications platform which conveys valuable real-time insight that can enlighten and shape new thinking and creativity. It is but one example of the evolutionary forces at play.

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The technology trends impacting businesses in the next year and beyond center on the ability to deliver content in ways that complement a myriad of platforms, devices and lifestyles. For businesses, the ﬂuid interaction of these elements will deﬁne how they interact with consumers in the future. At the same time, real-time search results will impact the way businesses use platforms like Twitter and Facebook to engage consumers.

Cloud computing makes most of this possible. The audience migration to online platforms is creating a world that enhances the value of all computing devices – spanning small (smart phones), mid-sized (computers) and large (television) screens. It’s also changing business models. The cloud allows businesses to move away from a ‘push’ content approach that targets mass audiences by now allowing consumers to engage directly with brands by ‘pulling’ the content they ﬁnd the most relevant from any device. The result? An engaged con-

“The challenge for businesses and their creative engines is to embrace and facilitate shared ownership of content” Consumers and the Cloud

sumer who is a champion of the brand. This is an irreversible trend that will continue to grow. Social Networking and Customer Engagement

Consumers today are spending more and more time online. They read the news on the internet rather than watch the evening news, they share pictures and stories online, and most profoundly, they know when they are the target of advertising. Better access to the internet on an increasing range of devices continues to

There are 722 million internet users in Asia-Paciﬁc and 1.66 billion internet users worldwide. These users are consistently investing more time searching for information to serve their needs. Even though some advertisers remain reluctant to commit to substantial investment in online campaigns, real-time measurement of integrated marketing campaigns will eventually make an undisputed case to go digital. As consumers spend more time online, they become increasingly fragmented as an audience. In this environment, advertisers will beneﬁt from launching

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integrated campaigns across digital, social and traditional avenues to best reach target audiences who are continuously defining themselves in new ways. Social platforms such as IM, search and micro blogs will continue to address specific needs while maintaining the ability to scale out globally and instantly. Leading up to the launch of Windows 7, the need to engage and interact with the customers more directly was a primary driver of our strategy and activities. Taking an unprecedented marketing direction, we firmly placed the user at the heart of every aspect of the product - from design and development to marketing and launch. One billion Windows users worldwide represent an extremely rich and diverse group of individuals who use Windows to solve the challenges of everyday life. We wanted to showcase how real customers used Windows in real-life situations. As part of the “I’m a PC” campaign, we invited users to submit videos of how they used Windows in their daily lives. Over 100,000 people across the world responded. We also led an aggressive consumer advocacy and engagement program before the launch that resulted in the largest beta test in history (8 million testers worldwide), 16,000+ online interviews, 2,600 participants in research and usability studies and 40,000 hours of Windows 7 usage logged from user research trials. Given the footprint of Windows in the market, the online commentary made around launch was deafening and made our job of monitoring, capturing, aggregating, and just making plain sense of everything a challenging one. Despite the seemingly tedious nature of this process, businesses should follow suit – listening to their customers, identifying the issues, creating their own content

and publishing via their own media. The online community will then ensure that content is Tweeted, Facebook’d, etc.

media platforms that connect with a million audiences at diﬀerent moments, locations and with diﬀerent moods.

On the local (Singapore) front, we focused squarely on the users and their pain points. Six months prior to the launch of Windows 7 in Singapore, the Singapore team collected user insights and sentiments and crafted a launch campaign that aimed at addressing user concerns and amplifying the voice of the consumer rather than traditionally focusing on product features.

The power of digital advertising lies in its ability to reach people around the world with the right message at the right time. In late 2009, Microsoft Advertising exercised this power to raise awareness of climate change by gifting digital advertising space to support the United Nations Climate Change Conference’s Hopenhagen campaign. The environment’s global relevance and worldwide audience made digital advertising the perfect medium.

More notably, the team integrated user sentiment and general buzz level into key performance indicators – a ﬁrst in Windows launch history. This not only emphasized the focus of the campaign, but also strengthened our relationship with our customers. The result was undeniably spectacular. Users who were previously hesitant to upgrade or try Windows 7 became emboldened by the collective positive voices of those who had tried it. By midnight, Windows 7 fans were queued in the lines for up to nine hours to be amongst the ﬁrst to purchase the product. Word of Windows 7 spread far and wide and ultimately, our customers made Windows 7 the fastest adopted OS in history. The key to the marketing success of this launch was placing the user at the centre of our product development, marketing strategy, distribution, advertising, PR, and retail launches. 21st century customers are connected to each other in ways we couldn’t have imagined ten years ago. They want to be part of the marketing process. Smart companies will participate in an active dialogue with them and their active, growing communities. Realizing the Power of Digital Advertising Today’s consumer can share, mash-up, comment or tag content as they choose. The challenge for businesses and their creative engines is to embrace and facilitate shared ownership of content. In this personalized content environment, marketing psychology will continue to evolve from buying media space, targeting an audience of millions, to selecting

What this means for businesses The economic turmoil at the end of the last decade prompted a behavioral and even a regulatory reset that has extended beyond the financial sector. Both business leaders and legislators now talk of a “new normal.” Cost effectiveness is one reason why digital advertising is part of this “new normal” business reality. In this climate, the lines between brand, media owner and agency are blurred as we all adapt to new commercial realities. The question remains, where will these trends and new realities take the advertising industry? What we do know is that the digital evolution will continue to empower consumers by giving them more control over content. We know that businesses will leverage the flexibility of cloud computing to deliver high-quality experiences for consumers across multiple channels – TV, PC and mobile. We know that the power of advertising lies with integrated campaigns across online and offline platforms. And we know that technology will evolve and inevitably change the landscape once again.

www.microsoft.com/asia/

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THE BUSINESS USE OF SOCIAL MEDIA by, Melinda Ilagan, Senior Associate, EASTWEST Public Relations Pte Ltd

he social media scene is purely for entertainment and personal gratiﬁcation, or so it seems. Many organisations have shifted their viewpoint and started using the social media scene for business growth. Facebook alone, with over 400-million active users, is considered a ‘gold mine’ of customer information for marketing programs. As a result, many companies have started to use social media marketing campaigns while others are still assessing their strategy.

Fuelled by the many opinions, it became clear that there was no single approach to using social media in business. Their use, as well as the tools used, varies depending on the goals they set out for their respective business organisations. The common approach however, for all businesses whether big or small, is to start by assessing their organisation’s needs and match the right social media tools to each of those needs. Two prerequisites for using social media in business were highlighted:

“there is nothing more valuable for your brand than a recommendation between friends” During the third instalment of EASTWEST PR’s Roundtable series, entitled ‘The Business Use of Social Media’, participants from diﬀerent businesses shared their insights, strategies and tactics on their use of social media. There were interesting viewpoints from business owners, executives in corporate and marketing communications, sales people, artists, consultants and recruitment specialists, among others. The participants were in diﬀerent stages of using social media as some had already incorporated them in their sales and marketing strategy while others had just started to get into it and are still navigating their way around. The more cautious ones have just started using social media on a personal basis and have yet to be convinced as to how they can use it to positively impact their business.

1 The ability to create value-adding content to eﬀectively engage stakeholders. 2 The commitment to engage with the relevant public on a regular basis. Ian McKee, CEO of Vocanic, a Social Media and Word-of-Mouth (WoM) Marketing agency, started with a clear position that ‘social media’ is actually a misnomer and in fact a misleading term: “From a brand point of view, it (social media) isn’t social. It’s social between people. And the platforms (Facebook, Twitter, Linked-In) are not the media. The real media is the voice of thousands of people, your customers, discussing your product and the experiences they have with your product. The platforms are simply vectors that carry or broadcast the conversations. It is what people say that is crucial – our viewpoint is that there is nothing more valuable for your brand than a recommendation between friends – and the social media platforms available now simply carry and magnify the eﬀect of these recommendations (positive or negative). In the B2B technology space, Susanna Hasenöehrl said there is a whole

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range of very specific topics that tech companies needed to discuss with their customers and potential customers. She viewed micro blogs and tweets as a source of information and a tremendous opportunity in the B2B area to establish a conversation with potential counterparts and among customers and potential customers. It was evident during the conversation that many got personal and business opportunities because of their involvement in social networks. “Connecting with people from across continents is enjoyable, as long as you know why you’re doing it, so you must keep in mind the platform you’re using” LinkedIn for business, Facebook for friends (or fans, or customer support… The line is blurring there too.) There is no right or wrong way to engage in social media as every company needs to define its approach in a way that will bring benefit to their business. First, you need to think about what you are doing proactively and ask: “What am I being proactive for? Is this driving me towards my goal? When should I just be reactive?” The latter part is about listening and understanding what your stakeholders are saying about you personally or your company and brand. While it can be managed on an individual basis for most companies, when one gets to a size and popularity of Microsoft, for example, or any large international company, the thousands of people commenting every single day can fast become a blurry chatter. Listening tools are therefore needed to normalise the huge volume of

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commentaries. Only then can companies create the right content to address the statiscally relevant issues (as opposed to reacting to one comment, search for the relevance and real reason behind the comment.) As an exception, comments from powerful influencers such as ministers, journalists, bloggers will need to be addressed individually. But they’re the exception. Limited resources will not permit a large corporation to engage in every single online conversation. We know social marketing from the technologies that support them: Facebook, Linkedin, Flickr, SlideShare, and their regional equivalents. Social marketing, however, is much more than that. It’s about content, it’s about what people say, what companies say, what the government say and how each understands, interprets and disseminates such news to an everexpanding web of contacts, friends and acquaintances. It’s all about influencing the influencers It has been said that online, anyone can be a writer, a publisher and even a media

mechanism that is always oﬀ-balance yet soon back in balance. Heed the feedback or forever be shunned. Not an easy task for marketers trying to control perception. What happened to the old marketing tactics? Do they still work? Interestingly, they do. Consumers and customers will always want to see, feel and taste the goods and services they buy. The way they approach that experience has changed however. It’s almost as if using old marketing tactics in today’s world only made sense if used in conjunction with the new media. That’s the beauty of this new world. We still aim for a target market – we just have more tools to reach them (if we know where they are.) Does your target market live online? Proper marketing always starts with understanding one’s market. This has been proven over and over again. Any marketing strategy that starts with anything else is doomed to fail. You must understand your target market, know where they are and how to reach them.

“Social media marketing is about the story. Curiously, that is what good traditional marketing was.” owner. Not everyone can be successful at it however. It takes a certain ability to tell one’s truth. Falsehood and manipulation will be noticed and derailed faster than with traditional media. And it will leave a permanent mark. Do a search for social media marketing and you’ll ﬁnd thousands of sites, thousands of experts, thousands of commentaries, white papers and eBooks. What you won’t ﬁnd however, is a regulating body that states what is the truth, what is not. What is excellent journalism and what is mere opinion. No body, literally, other than the public at large that is. Individuals, whether commenting on others or companies clarifying a point, are the new regulators. It’s almost like a self-regulating

This requires a new form of behavioral analysis and data discovery. This is where leveraging today’s technology can make or break your campaigns even before they start. The best marketers know for a fact that not all their target markets reside online. Some are still technology phobic and prefer to talk with a human being when it comes to buying anything. They also realize that in the complex web of interactions, discussions and relationships it has become harder to deﬁne what triggered a particular buying call. Was it the message’s location? The message itself? The tool that carried it? The friend or business partner that said something or sent a link? The possibilities are endless.

While analytical tools can help you reduce such uncertainty, uncertaintity still remains and the best one can do is to test as many of the social media marketing elements as one can aﬀord (another ‘old’ marketing precept that is still valid). This brings us to the next step in your social media strategy: What would you talk about? The message can no longer be you. Well, at least not entirely. Your message has to be targeted speciﬁcally and be validated by a third-party who has either tested your product and services or bought them over-and-over again. Nothing less will do. Social media technology further provides each individual with the power test – spreading the word at the speed of light. For example, type ‘Product Review’ in YouTube and be amazed by the diversity, seriousness and sometimes foolishness by which we, the consumers, review and use all kinds of products. The future of social media This is hard to argue because for many, social media is the future and whatever will happen next is simply an extension of what we know today. The funny thing is that’s exactly what every trend pundit would say about his or her trend of choice. Social media is not a fad, that’s a given. You could further argue that they are already an established trend, which would lead to the thinking that they’ll soon be commoditized. The real question however is not so much what is the future of social media but what is your future in social media. After all, most are just tools until a consumer, CEO or pundit creates a story that will be carried to the most remote corners of the world. Social media marketing is about the story. Curiously, that is what good traditional marketing was. Have we forgotten this?

www.eastwestpr.com

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THE EVOLUTION OF SOCIAL MEDIA AND ITS IMPACT ON BUSINESS TODAY By Ian McKee, CEO, Vocanic

ow would you like to be able to drop in on conversations your customers have about you, your company, your industry and your competitors? Knowing your customers, their wants and desires is a key part of business, not just for marketing purposes but for the long-term business success.

With so many conversations online, a whole range of topics are likely to be mentioned, including your business and industry. Now here is the bad news, if you’re not on social media, you miss out on knowing what is being said and learning about and engaging with consumers.

If the answer to my original question is yes, and it really should be, then I have good news and bad news for you. Starting with the good, today’s world is such that we can listen in on the voices of the consumer. They’re out there on the internet, talking in huge numbers just like they do in pubs, restaurants, at home, at their desk, the water cooler, etc. The content of online communication bears little diﬀerence to those oﬄine, except marketers have the key to listen. Just recently Facebook, the world’s most popular social networking site, signed up its 500 millionth member, that’s a number larger than the population of any country in the world bar India and China.

Furthermore, the chances are at least one of your competitors is using social networks already thereby gaining a signiﬁcant advantage over you with your target audience. If you want to keep up, you need to investigate the potential of this new medium for your business. Using Social Media Establishing a presence on social networks is the most common ﬁrst step. A company presence on mainstream so-

“The content of online communication bears little difference to those offline, except marketers have the key to listen.” Not to be outdone, micro-blogging service Twitter sees 600 messages, known as tweets, sent across its service every second of everyday while video giant YouTube exceeds two billion views per day with 24 hours of new video uploaded to the site every day. These are just three high profile examples of social media; blogs, other social networks, internet forums and many more online destinations provide further platforms for comment on the web.

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cial networks taps into the regular web surﬁng habits hundreds of millions who spend consider time online, Facebook users, for example, spend an average of 23 hours per month on the site. Being on social network takes your company and its message out to where your target audience is.

Starbucks is one company that uses social media as an eﬀective marketing tool. It stands alone as the ﬁrst to acquire

10 million Facebook group members globally and 50,000 in Singapore while its main Twitter account is rapidly approaching an audience of one million ‘followers’. The company has built up hugely loyal audiences online by engaging in an entertaining way, using photos, video and other media, responding to feedback and comments, and providing useful and contextual information to its customers. For every success, there are multiple examples of failures. One local example from Singapore is OCBC. The bank was running a TV advert campaign which featured branch staff surprising a customer with a cake on her birthday. When a customer visited a branch on her birthday asking for cake, her customer service experience was less than satisfactory with staff eventually agreeing to relent to her demands, despite initially saying it was ‘just an advert’. Without the internet, this story may have just be retold amongst the customer’s friends but, as she is a high profile blogger, her post retelling the experience drew a large audience across the blogosphere, social networks and the internet where it was discovered and subsequently covered by national press too. After the customer’s experience became public knowledge the bank suffered significant damage to its brand. With hindsight, perhaps a more conciliatory approach might have used the attention positively, showing the bank to be responsive and valuing each individual customers and their experiences. Nonetheless, OCBC’s experience illustrates how social media can amplify the smallest customer issue to national and potentially international, proportions. Social Media Strategy The OCBC example also highlights the

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need big brands have for a social media strategy in line with their other marketing communications eﬀorts. The larger, and more prominent a brand is, the more likely it is to be discussed online. Suddenly, each customer and their experience can be an advocate or bad publicity, as OCBC found out. On the other hand, StarHub, one of the brands we work with at Vocanic, uses social media as a platform to engage beyond its website. With more than 16,000 members, the company’s Facebook page

With so much at stake, companies are best advised to look to specialist online word of mouth agencies rather than traditional marketing ﬁrms or media agencies, many of whom are ill-equipped with limited understanding and experience of social media marketing campaigns. You wouldn’t call a plumber to do an electrician’s job just because they both work indoors, likewise social media marketing is best done by the experts. Singapore is a particular hot point for social network activity. Whilst near neighbours Thailand, Malaysia and Indonesia are three of Facebook’s fastest growing markets, Singapore is a relative social networking veteran with a proportionally high penetration rate, compared to the country’s population, and mature consumer internet habits.

“if you’re not on social media, you miss out on knowing what is being said and learning about and engaging with consumers.” acts like a micro-site taking questions from current and prospective customers, providing information, special offers, promotions, updates and more. Encouraging customer comments and questions requires dedicated staff to manage the page to provide timely responses which ensure customers are looked after, appreciated and engaged. Questions and answers posted to the page have the added advantage of being visible to other members who may find a question answered or information of interest to them. Growing a spirit of community often comes with engagement and large membership numbers, in this situation proactive customers often act as brand advocates and help answer questions or calm down angry complainers. Big and small brands alike often come unstuck finding the right agency to guide them into the unknown territory of social media. With many purporting to be ‘experts’, choosing the right consultancy is an important yet difficult decision and more.

One result of Singapore’s early development is that, according to data from Hitwise, social networks are the most visited type of website in Singapore, generating 14 per cent of web traffic in the country. The same statistics show Facebook to be the country’s most popular website, beating Google and a host of other, more established websites. However, social media is more than just a past time, it has huge social influence. A recent study from research firm Nielsen showed that across Asia “online product reviews are the third most trusted source of information when making purchase decisions, behind family and friends.” Nielsen also reported that internet users in Singapore are more likely to share positive experiences and reviews over negative ones. The sum of this research is clear: social networks, and Facebook in particular, have become such an established communications medium in Singapore that the content of everyday discussions and conversations has moved online in large volumes. While, unlike offline conversions, digital remain preserved online,

as searchable text which can continue to influencers others long after first being published. Engage consumers, Satisfied customers, Brand advocates With your customers and prospective business contacts amongst the millions online, social media is a massive opportunity to not only engage with consumers directly but generate interest in your company through satisfied customers and brand advocates. While social media is traditionally associated with consumer-facing brands, given its popular appeal, there is clear business value for business-to-business companies to adopt the medium too. Though they are typically lukewarm to the concept initially, business-to-business firms rely on a number of factors transferrable to social media including: market reputation, product reputation, background checks, colleague and peer group reference and reviews. Gone are the days when these processes would take place solely offline. The internet, social media and social networks in particular are a platform for this type of dialogue. Social media can enable a company to engage in these influential conversations, raise its visibility and knowledge of its products while developing its brand through thought leadership initiatives. This applies to companies big, small, consumer, business-to-business and across all industries, the phrase ‘early bird gets the worm’ really does apply to social media marketing. We, at Vocanic, are proud to help a variety of companies to successfully integrate social media as an additional communications channel. The truth is, if you’re not using social media marketing, you have no idea of the benefits you are missing out on. If you’re happy to live in ignorance, that’s your decision, but don’t say we didn’t warn you!

www.vocanic.com Blog: www.thepoweroﬁnﬂuence.com orient 15

creating opportunities

Fe a t u re : B u s i n e s s & S o c i a l M e d i a

HOW CAN BUSINESSES UTILISE SOCIAL NETWORKS & WHAT MAY BE THE LEGAL IMPLICATIONS By Mary-Claire Turkington, Partner, Stephenson Harwood

or the past number of years social networks have seen an unprecedented rise in popularity for both personal and professional use. LinkedIn, Facebook and Twitter are just a few examples of the social networking sites that 60,000,000 people around the world currently subscribe to. With LinkedIn reporting that their membership raises by 1 million people every 17 days this phenomenon is clearly still growing at a startling rate. As a result, many businesses are looking at how best to effectively utilise social networks in a number of ways, such as advertisement and recruitment, to generate and develop potential client relations. Businesses of all shapes and sizes are using social networks in a number of ways, to promote events, distribute company publications or to supplement face-toface networking. With the rapid growth in the number of broadband connections and online users, this new concept can be used to connect people with common interests and help companies reach out to employees, clients, consumers, contacts and potential employees more efficiently to promote services or products to a large number of people at any one time. However, it is essential that people and businesses participating in these social media understand and calculate the benefits and risks before engaging them. What makes social networks work for businesses? One of the major benefits of using social networks in business is that it is significantly cheaper to employ online social networking strategies than to pay for traditional advertising. In addition, you can target and screen specific potential clients and customers without committing much time or resources. You can assess what a customer likes and dislikes

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before engaging them in conversation. This is advantageous as advertising can be impersonal: the “one size ﬁts all” concept does not seem to work in advertising anymore therefore you can adapt your methods to have a more speciﬁc and personal touch that will create a more valuable relationship with your customer than what you would get had you advertised.

There are however potential pitfalls for any business using social networks. More media channels can lead to information overload, loss of conﬁdentiality and a company’s inability to control content for the channels they set up. Furthermore, organisations are still not sure how best to manage or regulate these technologies. Companies are also concerned about information leakage and legal liabilities arising from social computing and networking usage. Legal implications? Many legal implications have arisen from social networks as they have opened up a public forum in which one can criticise and voice any concerns they many have with a company or its employees.

Social networks also overcome difficulties with geographical boundaries and differing time zones. Global businesses can communicate with employees or clients and collaborate ideas with ease. This is a pertinent point for businesses in Asia. With many clients or colleagues often up to ten hours behind it can be difficult to offer a seamless approach throughout a global company. Social networks therefore open up a forum for discussion and showcasing ideas without the need for physical presence at any time of day or night. As such, people

These posts may not always be favourable and therefore can result in the defamation of an individual or of a company’s reputation. Furthermore, online defamation may arise due to individuals who can remain anonymous when posting information on to social networking sites and who, even if traced and successfully prosecuted, may be unable to pay damages to the defamed individual or company. The fundamental principles of defama-

“Companies cannot merely reply to complaints, they must actively monitor the forum to ensure that no defamatory statements are made.” with common business interests from diﬀerent parts of the world who may not have been able to communicate, can now do so with little diﬃculty. What are the potential dangers or problems for businesses using social networks?

tion law remain unaltered, the limitation period for bringing an action for defamation is twelve months from the date of publication, however, a fresh publication arises each time the defamatory statement is republished and if kept in an archive every time a reader accesses the article. This can have serious impli-

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cations for a company that has an online f o r u m or blog whereupon consumers can post their views. Companies therefore cannot merely just reply to complaints, they must actively monitor the forum to ensure that no defamatory statements are made. A company’s defence is to prove that it took reasonable care in the publication of the material, that it did not publish the defamatory statement and also that its website did not facilitate the publishing of the defamatory statement by one of its users. In addition the company must ensure that once it has been notiﬁed or becomes aware of the defamatory statement it must remove it from the website. Further legal issues that have arisen from

businesses using social networking sites are privacy and maintaining control over content of information posted. Social networks provide an instantaneous means of communicating with the entire online community, therefore is it essential to ensure that any sensitive or proprietary material should be treated with great care. In addition, it is necessary to ensure that you are aware of a social networking sites’ policies for publications as these can vary greatly between sites. For example, LinkedIn, requires its users to grant them “nonexclusive, irrevocable, worldwide, perpetual, unlimited, assignable, sublicenseable, fully paid up and royalty free right…to copy, prepare derivative works of, improve, distribute, publish, remove, retain, add, and use and commercialise, in any way now known or in the future discovered…without any consent, notice and/or compensation to you or third parties” in relation to all submitted material. Hence businesses may want to consider, that, should they delete their proﬁle,

who then owns the previous content and has it truly gone from the site? What does this mean for the future of social networks for businesses? There is no doubt that businesses are looking at social networks as an asset in marketing, recruitment and communication. Not only are they cheaper and more efficient in reaching out to large numbers of customers but they also allow for a cohesive approach to business throughout the world. It is hard to argue that the perceived benefits of getting on this “steam train” can be outweighed by the ever lurking legal ramifications. Businesses must thoroughly research and be familiar with the policies of the social networking site so they can avoid any problems further down the line, whilst reaping the benefits of the new social networking era.

www.shlegal.com

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BRITISH CHAMBER OF COMMERCE SINGAPORE

BUSINESS AWARDS 2010 GALA DINNER 7 OCTOBER 2010

7PM RECEPTION

SHANGRI-LA HOTEL

DISTINGUISHED GUESTS OF HONOUR S E N I O R M I N I S T E R O F S T A T E F O R T R A D E A N D I N D U S T R Y, M R S I S WA R A N & B R I T I S H H I G H C O M M I S S I O N E R , H E PA U L M A D D E N

J O I N S I N G A P O R E ’ S CA P TA I N S O F I N D U S T RY AT A P R E S T I G I O U S GALA DINNER WHERE THE BRITISH CHAMBER OF COMMERCE HONOURS THE BEST OF BRITISH AND SINGAPORE BUSINESSES.

f o r m o r e i n f o r m a t i o n v i s i t w w w. b r i t c h a m . o r g . s g o r c a l l + 6 5 6 2 2 2 3 5 5 2

Inside Britain

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ON YOUR MARKS, GET SET, GO! LONDON 2012: TWO YEARS TO GO

ingapore’s hosting of the inaugural Youth Olympic Games in August is a timely reminder that the 27th July marked two years to go to the opening ceremony of the London 2012 Olympic Games. It’s an exciting time for both countries. In terms of the London Games themselves, there is a good story to tell already: - Construction is on time and on budget, with all the major venues either on or ahead of schedule - Following a very ambitious green agenda, energy eﬃciency is being built in and the Park is destined to be a blueprint for sustainable living - It is the largest regeneration project in Europe, with the biggest urban park in Europe for 100 years as part of the legacy

Light Railway (DLR), increased capacity on the Jubilee Line and the upgrade of Stratford Regional Station. But London 2012 has always been about more than just the Games. London won the bid with a promise to make it: - More than just sport – It will have an impact on every part of British life, from culture to health, from education to the environment, from the economy to our local community;

Construction Update: The 2012th seat at the Olympic Stadium has been fitted. The external structure of the 80,000 capacity venue is complete, work has started on the field of play and the roof cover is nearing completion. The black and white seats are being installed at a rate of 700 per day. The final timber panels have been fitted into place on the London 2012 Velodrome roof making the building water tight and allowing work to continue inside ready for the cycling track installation during the autumn. A range of transport improvements serving the Park are already underway, including an extension to the Docklands

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- More than just six weeks – It is a four year festival of national pride and culture that will have impacts far beyond the Games; - More than just London – The excitement and beneﬁts will be felt right across the UK, and around the world;

- More than just a great spectacle – It will be accessible to everyone, and the whole country will have a chance to take part in activities, from the nationwide Torch Relay to local volunteering, from educational projects and cultural events to community sport. And across the world, the International Inspiration programme aims to ‘reach young people all around the world and connect them to the inspirational power of the Games so they are inspired to choose sport.’ The aspiration is to reach 12 million children in 20 countries by the London 2012 Games. And of course as Olympic hosts, there is an incredible opportunity to showcase modern Britain as one of the world’s best places to live, work, visit and do business. From a business perspective the Games are expected to make a signiﬁcant contribution to the UK economy. Lloyds TSB Business has forecast that the 2012 Games will generate an estimated £21 Billion (S$42 Billion), more than double the £10 billion estimate made when the Games were ﬁrst won. Between them the Olympic Development Agency (ODA) and London

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London 2012 Facts and Figures 4 billion people will tune in to watch the London 2012 opening ceremony (to be directed by Danny Boyle & Stephen Daldry of Slumdog Millionaire and Billy Elliot fame respectively) The site of the Olympic Park is 2.5sq km – the same as 357 football pitches or the size of Hyde Park

Olympic Games Organising Group (LACOG) will directly procure over £6 Billion (S$12 billion) worth of contracts. These will in turn generate an estimated 75,000 future business opportunities down the supply chain. The organisers of London 2012 are committed to involving as diverse a range of suppliers as possible Contracts arising from the Games cover all sectors, from construction, engineering, architecture, advertising, environmental technologies and hospitality through to security, logistics, sports technology and creative industries. To ﬁnd out more about London 2012 business opportunities visit: London 2012 Business Network www.london2012.com/business CompeteFor (business brokerage site for the 2012 Games) www.competefor.com Over 940 companies have already won over £3.5 billion (s$7 billion) worth of work directly supplying the ODA (May 2009) Uk companies have a great track record in winning Olympic business:

UK companies won £2 billion worth of business at the Beijing 2008 Games and were signiﬁcant suppliers to Vancouver 2010. They are supplying the Sochi 2014 Winter Olympic and Paralympic Games. They have been working with Rio since it was a candidate city “The Olympics are a once in a lifetime opportunity, not only for an outstanding festival of sport, but to regenerate, inspire and build our communities in the UK and showcase our skills, innovation, creativity and enterprise to the world” Sir Alan Collins, KCVO, CMG – UKTI/FCO Olympic Ambassador. There’s much to look forward to in London in 2012, and the rest of the world is invited to join in. 9 million tickets go on sale in 2011 but you can register an interest now to be the ﬁrst to hear about tickets when they are released: http://www.tickets.london2012.com For further information on the London Olympic Games: www.london2012.com For a virtual tour of the Olympic Park: http://www.london2012.com/plans/ olympic-park/virtual-tours/olympicstadium-may-2009.php Zoom in and out for interesting facts about the Park. Olympic Park Fly Through: http://mm.gett yimages.com/mm/ nicePath/locog?object=a123778874 Interactive Map of the UK for more information about each of the Olympic sites: http://www.london2012.com/map.php

200kms of electrical cables will be installed in 6km tunnels dug under the park Over 50% of materials delivered and waste removed by the ODA is being transferred by trains and barges, severely reducing the carbon emissions associated with delivering by road. 75,000 people have already visited the Olympic Park 300,000 plants are being planted in the Olympic Parks wetlands areas. During demolition, 97 per cent of the material was reclaimed to be reused in the creation of the Olympic Park. Approximately 1.3 million tonnes of soil have been cleaned, this is 619 times the weight of the London Eye. The Olympic Park sports venues will use at least 40 per cent less water than equivalent buildings through initiatives such as collecting rain water on roofs to ﬂush the toilets. 232 tonnes of potatoes and 330 tonnes of fruit and veg will be consumed during game time London 2012 is helping transform one of the most deprived parts of Europe with 75p in every £1 spent on the development of the Olympic Park going towards the regeneration of East London. 2,818 new homes are being built in the Olympic Village Stoke Mandeville is the birthplace of the modern Paralympic movement ‘Mandeville’ being the name of the London 2012 Paralympic mascot. The Olympic mascot is called ‘Wenlock’ after the village in Staﬀordshire, where Baron Pierre de Coubertin, the father of the modern Olympic Games, got inspiration from the multi-sport Games the village held.

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Economic & Business Insights

EMERGENCY BUDGET 2010

coneecting business

By Aidan Bailey, General Manager Singapore, International Division, The Fry Group

ollowing on from the eventual outcome of the General Election, an emergency Budget was promised within 50 days of the new Coalition Government coming to power. So here we are 42 days from the signing of the coalition agreement and George Osborne announced the expected tough measures to combat the budget deﬁcit. He described it as the ‘unavoidable Budget’. What follows is a summary of the main points, not all of which will have an impact on expatriates. If you have any questions, don’t hesitate to contact an expert.

Income Tax – Personal Allowance The basic personal allowance for those under 65 is to be raised to £7,475 from April 2011. However to ensure that higher rate taxpayers do not beneﬁt from this, the basic rate band will be reduced. The exact amount it will be reduced to will not be known until the September Retail Price Index is known. Tax Rates There is no planned change to the additional higher 50% tax rate. Capital Gains Tax - Rates and Entrepreneurs’ Relief From 23 June 2010 there will be two main rates of capital gains tax (CGT), 18% for basic rate taxpayers and 28% for higher rate taxpayers, in place of the single rate of 18 per cent for all gains. The rate paid by individuals will depend upon the amount of their total taxable income. Gains realised before this date will continue to be taxed at 18% and will not

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be considered in determining the rate of tax on gains made after 23 June 2010. Therefore the current 2010/11 tax year will see two rates of tax and eﬀectively two separate pools of disposals.

This will assess whether changes can be made to the current rules to ensure that non-domiciled individuals make a fair contribution to reducing the deﬁcit, in return for greater certainty and stability for those bringing skills and investment to the UK

Gains qualifying for entrepreneurs’ relief will be taxed at a rate of 10 per cent, and the lifetime limit of gains qualifying for entrepreneurs’ relief will be raised to £5 million (from the previous ﬁgure of £2 million). Gains of trustees or personal representatives of deceased persons will be charged at 28%.

ISA’s From 6 April 2011 ISA limits will be increased in line with the Retail Prices Index (RPI) on an annual basis.

It was anticipated that the rate of CGT could be increased to 40% or 50% in line with Income Tax Rates. The additional Q&A on this change mentions this and it does say ‘The Chancellor will decide the rate of CGT for 2011-12 in the Budget in 2011’. Could this be seen as paving the way for a further increase? Furnished Holiday Letting It was announced that the FHL rules are not to be withdrawn. The Coalition Government will however produce a consultation document on the taxation of FHL’s to include: • Ensuring the rules apply to properties in Europe • Increase the number of days that properties have to be available for and actually let • Change the methods of loss relief available. State Pensions State pensions are to be re-linked with earnings. The Chancellor conﬁrmed that the basic state pensions would rise each year by earnings, inﬂation or 2.5 per cent, whichever was greater. Taxation of non-domiciled individuals The Chancellor announced that the Government will review the taxation of non-domiciled individuals. This reiterates a statement made previously in the Coalition Agreement. A little further detail is tucked away in the Budget Book stating:

Corporation Tax Rates Companies with profits above the upper limit of £1.5M will be subject to a new main rate of CT of 27% on and after 1 April 2011. Companies with profits below the lower limit of £300,000 will be taxed at 20% on and after 1 April 2011. There will be further cuts in the main rate in future years: 26% in 2012/13, 25% in 2013/14, 24% in 2014/15. Capital Allowances Changes to be included in a future Finance Bill will reduce the rates of writing-down allowances (WDAs) for new and unrelieved expenditure on plant and machinery: • from 20 per cent to 18 per cent per annum for expenditure allocated to the main rate pool; and • from 10 per cent to 8 per cent per annum for expenditure allocated to the special rate pool; and • reduce the maximum amount of the annual investment allowance (AIA) from the current limit of £100,000 to a new limit of £25,000 The changes will have effect for the calculation of WDA’s for chargeable

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periods ending on or after 1 April 2012 for those charged to Corporation Tax or 6 April 2012 for businesses charged to Income Tax.

consultation, eﬀective from 1 January 2011. It is proposed that the levy will be set at a rate of 0.07 per cent, with a lower initial rate of 0.04 per cent in 2011.

VAT The standard rate of VAT will increase with eﬀect from 4 January 2011 from 17.5% to 20%.

Landline Duty The proposal introduced by the previous Government for a landline duty will not be implemented.

Zero-rated supplies including Children’s clothing/books, exempt supplies such as education and health and supplies subject to the 5% reduced rate such as domestic fuel and power; are not aﬀected by this change.

All in all, if everything goes according to the coalition’s plans, the structural deﬁcit - the gap between tax revenue and state spending - will be in balance by 2015 and government borrowing will be only 1.1% of GDP by 2015/16. Although these are very ambitious targets and whilst this is certain to mean severe cuts in public services in the UK (some Government departments – outside health, international development, schools and defence – face spending cuts of a third in the next ﬁve years), the general feedback has been positive.

Tax Policy Making A consultation document has been produced to consider how future changes to tax policies are made. This suggests that changes be accompanied by draft legislation. Bank Levy A bank levy based on banks’ balance sheets will be introduced, following

• Moody’s became the second ratings agency to applaud plans to grapple

with the £86bn structural current deficit, confirming the UK’s AAA status and declaring the Budget a “key step towards reversing the significant deterioration in the Government’s financial position that occurred over the past two years” • The yield on 10-year gilts fell two basis points to 3.43%, indicating the market’s renewed confidence in the public finances • With a more austere approach to fiscal policy, it is almost certain that monetary policy will remain loose for some time to come. In other words, interest rates in the UK are likely to remain at record low levels over the foreseeable future.

www.thefrygroupsg.com

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Economic & Business Insights

MAKING THE RIGHT MOVES FOR YOUR FAMILY

connecting business

by Mark Sing, Vice President and a Licensed Financial Adviser Representative with ipac ﬁnancial planning Singapore private limited

hen moving with your spouse and children to a new country, there’s a mixture of excitement and concern for your family: how will they adjust to their new life? Have we made the right decision for our family? How can you make the transition to this place smoother for everyone? Insurance As you get older, your wealth accumulation plan should be on track. Hopefully you are enjoying increasing assets and decreasing liabilities. It may even be a period of time when the word “retirement” is starting to sound very attractive – friends are talking about their dreams of holidays abroad, or looking forward to time to themselves as your children grow up. You don’t want to risk what you have amassed over the last few years.

Health insurance for both you and the children should be the ﬁrst thing you get in place. It’s essential to ensure your family is suﬃciently covered, as hospitalisation in Singapore can run into the tens of thousands of dollars. It’s especially critical if you frequently relocate and are unsure where you might eventually settle down. As an expat working overseas, the reality is also that your living and working circumstances can change dramatically because of

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events beyond your control, be it natural disasters, retrenchment, terrorism, or other crises.

Employers may provide coverage that ranges from a basic insurance plan to full cover for the family. Whether you’re the sole breadwinner or in the position of trailing spouse, it’s important to be aware how much cover you currently get from your employer and how much it would cost to close any gaps. From experience, we’ve observed that the ﬁrst thing that goes is hospital cover. You do not want to be panicking during a crisis, if something happens to you or your partner’s employment. As a parent you also need to ensure your life insurances are up to date and current. Inform your life insurer from your home country you’ve left and give them details of how long you expect to be away. If you or your spouse is the sole earner, it’s vital to protect your family in the event of personal catastrophes and not wait till it’s too late to do anything. Education You can apply for your children’s admission to local schools through the Ministry of Education, which has information about the enrolment process that is easily accessible online: http://www.moe.gov.sg/education/ admissions/international-students/

Fees for international schools range from $5,000 to $32,000 per annum, depending on which grade your child is attending and the school’s educational p r o g r a m m e s . Remember to factor in “extras”, like school excursions, lunch money and the cost of transport when drawing up your budget. The school year and semesters also differ from school to school. Don’t forget the cost of future university funding—do you want your children to attend university back home, and if so, what are the associated costs? Have you also considered that by the time your child is headed for university, you may be looking forward to your 20- or 30-year retirement vacation. Can you afford to fund both events? The biggest mistake that parents make is not starting to plan early enough, because while education fees are expensive, if you plan early and spread the costs over a long period of time, the effect can be relatively painless. Remember that there are alternatives to help your child cover their higher education funding, for example scholarships or student loans, but not necessarily for your retirement. In order to have financial freedom for yourself and at the same time provide an excellent start in life for your child, you

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need to initiate the planning to cover the costs of the education many years in advance. Kids and money Once the children start school, they are going to need an allowance. This is a great opportunity to start teaching them good spending habits, and encouraging them to save regularly from their allowances for items they want, whether it’s the latest gadget or a new game. If your kids used to having piggy banks back home, keep up the good habit here. A piggy bank or jar ﬁlled with money gets the message of savings across when they can see the amount accumulating physically.

Get them involved in the family ﬁnances in a positive fashion. There are all sorts of creative ways you can get them involved, for example you can ask them to help you with the grocery shopping and budgeting for your next family dinner. Or while trying out the local cuisine and new places to eat, you can get them to compare prices (and new favourite foods) to see which places you ﬁnd are good value for great taste. Another valuable life lesson is making your children aware of the plight of the less fortunate. If you contribute to charitable causes, let your kids know what cause the money is going towards. Young children are naturally curious about the world around them and will ask questions about why other people do not have the same things that they have. You may be surprised, this may even motivate them to want to actively give their own money to help others.

Moving to Singapore should be an experience you look forward to. By putting in place a few structured ideas, you can make the transition to your new life here a lot easier. If you need help to start out on the right foot, speak to a financial planner who can help you sort out the financial aspects of your move here. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any person. Before making an investment decision, you should speak to a financial adviser to consider whether this information is appropriate to your needs, objectives and circumstances.

www.ipac.com.sg

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Economic & Business Insights

connecting business

VIDEO CONFERENCING  LIVING UP TO THE HYPE IN THE REALITIES OF TODAY’S WORLD by David Stanton, Vice President, Enterprise Sales, Asia Paciﬁc, Cable&Wireless Worldwide

ideo conferencing has long held the reputation of over-promising and under delivering. For decades it was promoted as a panacea for business efficiency and increased productivity through reduced travel time and costs. The reality, however, was that video conferencing became synonymous with slow speeds, poor quality, jerky pictures, difficulty to use and high costs to operate. In other words, it never really lived up to the hype. As time has moved on and last year’s recession tightened its grip, particularly with recent clouds of volcanic ash prohibiting air travel in the last few weeks, we see that a universal desire among businesses to cut costs, and improving productivity and business efficiency is fast moving up the boardroom agenda. As video conferencing has increasingly come back into focus as a potential answer to these issues, just what has changed to allow for wide scale adoption of video conferencing as a mainstream business activity?

Technology Drivers Improvements in technology, and in particular, the benefit offered by nextgeneration networks, has allowed video conferencing to deliver on some of the unfulfilled promises of yesteryear. Technology is now more agile and the ability to prioritise bandwidth has allowed video to run well in realtime, delivering much improved user experience. The resultant clarity of picture has led to users commenting that they actually feel as if they are in the same room as the other person. For the first time, the technology IS living up to the hype. We have been having more conversations than ever before with our customers, particularly about the benefits of Managed Video Conferencing solutions (MVC), where seamless

26 orient

solutions are delivered via a single end-to-end provider, and we expect to see a continuing rapid growth in live deployments over the next few years. The recent economic downturn has seen many business travel budgets slashed, which in turn has become a springboard for companies looking to managed video conferencing solutions as a real alternative to travel. Of this, we observe that telepresence solutions have been one of the gainers. A recent report by telecoms analyst house Ovum, has predicted that adoption of managed telepresence services will soar in the next five years, with businesses investing around $1.7bn on video conferencing between 2010 and 2014. According to analyst house Frost & Sullivan, revenues for ready-built telepresence suites in Asia-Pacific grew an estimated 71.1 per cent in 2009 (up from 46.6 per cent in 2008), and for 2010, a growth of 64.4 per cent is expected, with revenues of just over US$73.0 million by year-end. Video Conferencing hits the mainstream By delivering services that are able to optimise company performance, managed video conferencing solutions are revolutionising the way people meet and making video-conferencing a reality for many ordinary businesses. Cable&Wireless Worldwide formed a partnership with Regus globally earlier this year, to enable organisations of all sizes to take advantage of managed videoconferencing services without the associated costs of set-up, through its public room strategy. Through the collaboration, telepresence is now available to smaller companies who cannot afford the initial set up costs and will be available as a pay-as-you-go service in Regus’ Asia Pacific business centres in Singapore, Shanghai, Hong

Kong and Mumbai, and elsewhere in the word. For some companies, this will represent a true cost saving, as they can use managed videoconferencing on an ad-hoc basis and still reduce their travel costs. Video and web conferencing can clearly be used as a means of cutting costs for the smallest-to-the largest enterprises while increasing agility through reduce travel requirements and increased realtime collaboration opportunities with partners, customers and employees. Replicating the Real experience of Face to Face – a culture shock? Many organisations face a cultural stumbling block when trying to deploy video conferencing solutions that, in the past, have been exacerbated by a poor user experience. With disconnected faces and voices, some legacy video conferencing tools failed to replicate the experience of a face-to-face meeting, making them an unsuitable replacement. The high quality of video conferencing technology now makes it feel like you’re actually meeting a person. People appear life-size on-screen and the meeting can take place in stereo surround sound. These meeting suites enable those taking part to make real eye contact and observe other non-verbal signals such as body language or facial expressions that are so vital to a productive meeting. Users are also able to share desktop content between locations facilitating eﬀective collaboration. Of course, certain types of meetings, such as an initial customer meeting or a client pitch, will always require a physical element, however, for most other business meetings, managed videoconferencing is a very compelling alternative, making a very visible diﬀerence to business performance.

www.britcham.org.sg

Going Green cutting costs & carbon During the recession, businesses were keen to make cost-savings wherever possible, and business travel was an obvious area of opportunity. The Economist Intelligence Unit’s recent Austere Traveler survey showed 46% of businesses are choosing to respond to the downturn by completely cutting business travel for internal meetings. Leading businesses are also deploying video conferencing to communicate with suppliers, partners and even customers. We ourselves live and breathe the solutions we sell, and have deployed video conferencing on a large scale and have stringently monitored the impact on our own travel costs, and empower our customers to do the same when we deliver such solutions to them eﬀectively. We observe that companies are now coming under increasing pressure to

recognise, and act upon their social and environmental responsibilities. Reducing carbon emissions is a positive step in the wider battle against climate change and a signiﬁcant decrease in business travel enables companies to better align themselves with corporate responsibility. Our research shows that a medium sized enterprise with annual travel budgets of _20 million, can expect to make savings of some 30% in costs and carbon emissions. As a case in point, the use of our own video conferencing services helped us to reduce our own carbon emissions by 600,000kg over the past year. Seeing is believing in this new way of working Managed video conferencing solutions have a big part to play in the future of businesses of all sizes. Technology barriers that once made

video conferencing systems diﬃcult to use, expensive, and unreliable have been overcome, thanks to advances in network performance and technology. Having a service provider to fully manage the solution across global business operations, integrating all components – equipment, network, reach, integration, services and support – just makes easier to hasten adoption. We are living in a post-recession world, where cost-eﬃciency and productivity sit at the top of the corporate agenda, alongside the need to improve green credentials. Managed video conferencing is a valuable tool in the armour to allow businesses to achieve these aims, as long as people are ready to make that cultural shift to using managed video conference services as an everyday instrument of communication.

www.cw.com

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Economic & Business Insights

WHAT WE DO AND THE CONSEQUENCES

connecting business

By Lyndon Jones, Founder Chairman, Association of Business Executives

henever we do anything frequently we fail to consider the consequences of our actions. When we do so, we may consider the ﬁrst set of consequences, but rarely the second, third or fourth set. Witness technology and how the ﬁrst set of consequences

arise from its immediate application of the technology. The second set embraces other things to which that technology can be applied. It is with the third and fourth set of consequences that the social implications arise, those with perhaps the most signiﬁcant impact. The following example illustrates this. In the nineteenth century if the question had been asked “How can man travel faster?” the answer might have been “Learn how to make a horse run faster”. However, it was new technology, namely the combustion engine, which facilitated the desired improvement in speed. As part of the second consequence, by building buses and cars, large numbers of people could travel faster and horses

28 orient

became redundant. The third sets of consequences were things such as the impact on farming, which underwent a dramatic change. When horses were replaced by tractors, one person could do the work of many; people in the countryside were displaced, rural life

transformed and people moved into the towns. The fourth set of consequences included the degentrification of town centres - the wealthy moved to the suburbs and the once fashionable inner cities became ghettos for the poor. The consequences of what we do are not confined to technology, a financial

companies to be set up more quickly and at less cost, by enabling them to draw on a large number of people to become shareholders. In turn, this gave a huge impetus to the industrial revolution. Today, however, it is not a large number of small shareholders who control many companies, as had been envisaged. Increasingly, the share capital is owned by large private equity funds and it is the controllers of these funds who dictate policy and strategy, not those employees who create the wealth. The days of capital versus labour are becoming a thing of the past. Today’s conflict is between those operating the company and those investing in it - two parties who value different things and whose time horizons are completely different as the following illustrates. Today, because of the threat to the environment, CEOs have had to develop a social conscience. In turn, this brings them into conflict with professional money managers whose only job is to make a portfolio perform. They cannot tolerate losers or CEOs whom they do not foresee as delivering an adequate return on investments. So we see the triumphs of the investor over the producer, which is a major cause of CEOs having a much shorter time in office than was previously the case. Arising from this a new form of business structure is emerging.

“Today’s conﬂict is between those operating the company and those investing in it - two parties who value diﬀerent things” example is the creation of the joint stock company. Prior to 1850, companies were created by either the Crown, which granted a Royal Charter, or by an Act of Parliament. When Parliament approved the setting up of joint stock companies the major objective was to enable

Until recently, the business world comprised three sectors, namely: • Private for proﬁt • Public/Government • Non proﬁt sector

www.britcham.org.sg

A blurring of the lines between these sectors is now occurring and a fourth sector, known as social enterprise, which straddles the other three, has emerged. It has been variously described – corporate social responsibility, green, sustainability and the like. It is not meant to replace the other sectors. It is a hybrid, using private investment as another way of dealing with common social problems that have not been addressed successfully to date. These examples of the consequence of change developed relatively slowly, but today change is accelerating ever more rapidly. Witness some consequences

of the introduction of the self-starting engine in cars. This liberated large numbers of women for it enabled them to drive cars. Previously, many independent female drivers had been limited by the need to use a cranking handle. The secondary and further consequences of this increase in drivers have included overcrowding on the roads, increased pollution and exponential growth in the percentage of obese children. Singapore based John Bittleston, writing recently on ‘Face the Future’ said, “In the past the consequences of our behaviour, even when clearly seen by a few, materialised slowly. We now know that survival of the human species is threatened in its present form within a single lifetime. That should concentrate the collective mind. The moral nature of human beings is unlikely to change signiﬁcantly. The good and bad, the yin and yang will probably be there as long as we have free will to decide between

selfish and collective options. When that freedom is lost, our behaviour will be controlled by whoever is in charge of the apparatus running our brains. As we know, that apparatus – the wholly artificial brain - will be with us within ten years.” If that is the case, have we begun to think through the first, second, third and fourth consequences of “the wholly artificial brain”? If not, are we leaving it a little late? Failure to think through, not only the primary consequences of any action we take, but also the secondary, tertiary and so on, then, to use the words of a popular character from Dad’s Army, Private Fraser “We’re doomed, doomed”.

www.abeuk.com

orient 29

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High Commission News

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BRITISH HIGH COMMISSION NEWS AUG  SEPT 2010 I

t’s been a busy period for UKTI in Singapore as we adjust to the new coalition Government and their priorities. There is plenty to look forward to for British business in this part of the world as the government focuses on promoting British business interests abroad, with a particular emphasis on Asia. While announcing new members of the Asia Task Force, Business Secretary Vince Cable said:

Keen to do our bit to help UK companies develop their business in Asia, UKTI Singapore has launched, in conjunction with BritCham, a series of breakfast seminars: Doing Business in Asia. The ﬁrst two events featured business opportunities in Vietnam and Indonesia. Judging by your feedback these worked well for the 80 plus delegates who attended so we are pressing on with an event on South Korea in August; Thailand in September and Malaysia in October. The High Commissioner is also looking forward to leading the Chamber mission to Shanghai Expo in September and I do hope you will sign up to join him! In July, the Prime Minister announced the UK’s investment ﬁgures, which show that a record number of countries invested in the UK in 2009/10. Inward investment generated 94,000 jobs over the past year, a 20 per cent rise on the previous year. Prime Minister David Cameron

“UK exports to Asia more than doubled in value between 1998 and 2008, while the region’s economy has grown faster still. These markets will be a vital route to growth for many UK companies, and the Coalition Government is committed to focusing ever more strongly on them. Of the 24,000 UK businesses helped by UK Trade & Investment in 2009, around 40% were targeting growing markets such as Asia.” The Asia Task Force brings together experts from industry, education and government and will advise the UK Government on how to boost trade with Asia. Chamber member RBS is sponsoring a series of Asia Task Force events in the UK aimed at galvanising more British businesses into exploring the opportunities in Asia. RBS Global Transaction Services CEO, Alan Goodyear, joined the High Commissioner as a guest presenter at the ﬁrst of these events in July in London and Manchester. Further events are planned in November and February 2011. See http://www. businessinasia.co.uk/index.php for more information.

32 orient

said: “Attracting and retaining inward investment is hugely important for our economic recovery. We want Britain to be a place where companies can grow and succeed, where the world’s best companies thrive, where great ideas and innovations are turned into great products and where we have a world-class workforce” From Singapore we saw a 50% increase in the number of projects we supported. Overall, highest number ever of investments went into the UK from the Asia-Paciﬁc region. We celebrated these results at Eden Hall, with the High Commissioner presenting UKTI Singapore’s International Business Award to The Think Environmental Company, in recognition of their investment into the UK’s waste and green energy industries. If you are working with a company considering investing in Europe, please do encourage them to talk to us about the support UKTI provides to potential

investors in the UK. In June the Chancellor of the Exchequer set out his Budget with a comprehensive five-year plan. The plan set out action to tackle the budget deficit, encourage enterprise and support long-term growth across the economy. Measures include: A reduction in the corporation tax rates from 28% to 24; a reduction in the small profits rate from 21% to 20%; a National Insurance Contributions holiday for new businesses which startup in certain areas of the UK; an increase in the Enterprise Finance Guarantee and the creation of a new Enterprise Capital Fund; a Regional Growth Fund; and an extension of the 10% rate of capital gains tax for entrepreneurial business activities. Most recently the Government also announced its intentions to limit immigration into the UK from outside of the EU. If you are a British National or Singaporean these plans are unlikely to affect you. But if your company employs nationals from 3rd countries who need to travel to the UK on business there may be some impact. To better judge the likely impact on business the Government is currently undertaking a consultation exercise. This will run until 17th September. You can make your views known, through the UK Border Agency website at: www.ukba.homeoffice.gov. uk/aboutus/consultations/current/ For more information on any of the above you can follow us on Twitter (UKTI_Singapore) or visit us at www. ukinsingapore.fco.gov.uk

AMANDA MANDA BROOKS DEPUTY HIGH COMMISSIONER DIRECTOR OF TRADE AND INVESTMENT www.ukinsingapore.fco.gov.uk www.uktradeinvest.gov.uk

www.britcham.org.sg

UKTI SUPPORTED EVENTS 2010/11 DATE

EVENT

June 30 Jun - 2 July The Children’s Media Conference 2010 (previously known as Showcomotion) 7-12 MIFA (Annency Animation) 24 UK reputational showcase, Shanghai 28-2 Jul Explore Expert Wales July 1 13 19-26 August 14

5 yrs on- UK’s capability in sports linked to Soccerex Asia Forum Inward mission to Asia Attractions Expo 2010 KL Farnborough Air Show

Reception & mini exhibition in support of Inaugural Youth Olympic Games

Sept 20 Sep-1 Oct Asia Pac ICT Clinic IBC - Low Carbon Vehicles 15-17 UKTI stand & Networking Reception at Medical Fair 15 Technical Seminar by Healthcare Trade Mission to Singapore

DATE

EVENT

Oct IBC - DSO Security Sector 4th Qtr/2011 SE Region Meet the Expert Day 1 Inward mission to World of Learning 1 Inward mission to BES Asia Nov BDV and IBC to Technology World 30 Nov -3 Dec Networking Programme in support of OSEA Dec 8-10

Networking reception & seminar Asia TV Forum

Jan-11 12 15

Inward mission to BETT Education Show BDV to Arab Health

Mar-11 1 1 13

UK Stand at Biomedical Asia Inward mission to Education Show BDV to Int’l Food & Drink Exhibition, ExCel Ldn

TBC Railway Projects Seminar Regional BDV visit to W Midlands and SE to meet companies

orient 33

BritCham

CHAMBER NEWS  AUGUST  SEPTEMBER 2010

building networks

Dear members, I hope you all had a restful and enjoyable summer break and you are now preparing to get back to business and social life in Singapore! I would like to thank you for participating in our recent membership survey which we conducted end May to early June. You gave us valuable feedback as to where we stand as a Chamber and how you wish us to act in improving our offering and services. We understand that your main reason for joining BritCham is to meet and network with British and Singaporean professionals as such enhancing your own network and drive your business. Despite your general approval of our past programmes you asked us to improve on certain areas. As such you will see: • An increased variety in topics and speakers at business briefings • An increased activity from our newly formed Young British Chamber of Commerce group • Additional evening networking sessions • More initiatives in business service areas • A completely modernised and much more user friendly website A summary of the findings is provided on pages 8 for your information and reference. If you would like to receive the full report please contact our Membership Manager Katie Hudson.

34 orient

Please check our website regularly for updates on planned events. I would like to draw your attention particularly to the following upcoming activities: •

•

UKTI Country Briefings on South Korea, Thailand and Malaysia on August 17, September 8 and October 26 respectively A Business Mission to Shanghai led by High Commissioner Paul Madden on September 15 to September 17. This mission has been IMap approved by IE Singapore allowing for 50% reimbursement of delegate’s travel and accommodation cost. A panel discussion over lunch on Green Buildings “Ideology or Reality” featuring high profile experts from ARUP, CBRE and UWCSEA on September 22 A Briefing on Mediation provided by the Singapore Mediation Council on September 28 A Briefing on Talent Mobility 2020 where PWC shares the findings of their latest worldwide report on October 1 The British Business Awards Gala Dinner on October 7 featuring the finalist in 8 award categories presenting Senior Minister of State, Ministry of Trade and Industry and Ministry of Education S. Iswaran

Amongst other areas, we are currently working on an activity which engages IE Singapore and SPRING, where both organisations present insights into available funding schemes for Singapore registered companies.

Board member Philippe Touati has taken over the chairmanship of the Events Committee, succeeding VP Chris Claridge who successfully steered BritCham’s events calendar to current quality levels. Philippe’s primary focus will be to steer and drive committee output and actions on the basis of your survey feedback. Regarding personnel moves, Melanie Hewlett, Events and Sponsorship Manager will be leaving the Chamber team this month to take up another challenge. Melanie served 5 years in this role and was instrumental in driving and executing the Chamber’s events calendar. We thank Melanie for her excellent contribution over the years and wish her all the very best in her future endeavours. We are looking to add to our team to replace Melanie and I shall keep you posted as this progresses. Addressing one area of succession, Tiﬀeny Kua has been promoted to Business Events and Business Group Relations Manager, recognising her excellent performance in organising our Breakfast Clubs and in supporting all other events. Please join me in congratulating Tiﬀeny on her promotion to this enhanced role. I wish you a good start back in business and hope to see you at our upcoming activities. Brigitte Holtschneider Executive Director British Chamber of Commerce www.britcham.org.sg

www.britcham.org.sg

BRITISH DRAGON BOAT TEAM: ONE TEAM...SIXTEEN NATIONALITIES…TWO OBJECTIVES… PARTY HARD, PADDLE HARDER

ragon boating is one of the fastest growing international water sports, with Dragon Boat Festivals taking place all over the world. There are currently some 7,000 regular dragon boaters in Singapore, and the numbers continue to rise. Established in 2000, the British Chamber of Commerce team is one of the strongest expat teams in Singapore, participating in local races and international competitions throughout the year. “Three years ago there were some weeks we couldn’t even put the boat in the water because there weren’t enough people to carry it,” says Mr. Paul Robinson, captain of the British team. “Then, suddenly, it shot up. Now we’re putting out three boats a week – around 50 or 60 people, with new paddlers joining every week” The expat dragonboat community is incredibly welcoming, and whilst battle lines are ﬁrmly drawn during race weekends, paddlers from international and expat teams alike can often be found socialising together at the weekends. ds. This accessibility ty is one of the main n factors behind itss rising popularity, according to Mr. Jason Chen, a former member of the Singapore national ational team and now a professional dragon boat coach. “Dragon boating is very easy to learn – it’s not a sport that requires years of training,” he says. “Satisfaction is high and there is that sense of teamwork, of trying to achieve a common goal. Speaking as the new Ladies Team Captain Gillian Saxon described the feeling of competing in our women’s 20 crew boat at the MR500 races held earlier this year:

‘it was a tremendous feeling of a team really pulling together and putting heart and soul into it. I felt everyone’s emotion when we reached the finishing line’. The British team in particular enjoys a healthy social calendar, including dinners, BBQs and relaxing trips to nearby tropical islands, when the paddles are left firmly at home! Coaches may tell you that winning medals depends on the time tim and energy spent on the water. But for the British Dragons, our team work, Dr loyalty and sportsmanship lo can perhaps also be ca attributed to the time a and a energy spent on the dance daance floor! floo Although we’re called the British Alt Team you don’t have to be British to T Tea join us. We have over 16 nationalities in the th team, including paddlers from Holland, India, Japan, Indonesia, New Zealand, Singapore, and even Poland! All you need is the desire to meet new people, have fun and learn a new sport. We train three times a week and welcome new paddlers throughout the year. Having recently returned from the ‘1 Malaysia International Dragon Boat Festival’ in Putrajaya with 3 medals, we are currently preparing for races in Thailand and Hong Kong. Later in the

year we will focus on short distance training to be ready for the competitive race weekends organised in Singapore in October: the Sava Sprints, held at Bedok Reservoir, and the 28th Singapore River Regatta, which spectators can watch from the comfort of any of the bars and restaurants along boat quay! Of course, while support is gratefully received at race weekends, if you fancy joining us on the water why not come along to one of our Saturday afternoon training sessions and give paddling a go? In partnership with the Young British Chamber of Commerce the British team is organising an introductory paddle on Saturday 4th September. If you are interested in coming along please contact Miles Gooseman (Miles. Gooseman@royalskandia.com) or Marietta Nicolson (mariettanicolson@ meyado.com) to register your interest. For more details about the team and what to expect from this fantastic sport, check out the website:

www.britishdragonboat.com orie or ent nt 35

BritCham

building networks

2010 BRITCHAM EVENTS: MARK YOUR DIARY!!

36 orient

Doing Business in Asia Opportunities for UK companies in South Korea Presented by: Douglas Barrett - Head of Trade & Investment, Seoul Date: Tuesday 17th August 2010 Venue: Shangri-La Hotel

BritCham Breakfast Club Media and Marketing Business Group event Presented by: Paul Coleman – Qi Global Date: Thursday 19th August 2010 Venue: Raﬄes Hotel

BritCham Breakfast Club Navigating Organisational Politics Presented by: Peter Hamill – Roﬀey Park Institute Date: Tuesday 31st August 2010 Venue: Pan Paciﬁc Hotel

BritCham Breakfast Club UK pensions Presented by: Adrian Love – Global Financial Consultants Date: Thursday 2nd September 2010 Venue: Raﬄes Hotel

Doing Business in Asia Opportunities for UK companies in Thailand Presented by: Steve Buckley - Head of Trade & Investment, Seoul Date: Wednesday 8th September 2010 Venue: Shangri-La Hotel

BritCham Breakfast Club Unravelling Disputes Through Mediation Presented by: Singapore Mediation Centre Date: Tuesday 28th September 2010 Venue: The Tanglin Club

British Business Awards 2010 Presented by: The British Chamber of Commerce & RBS Date: Thursday 7th October 2010 Venue: Shangri-la Hotel Singapore

The BritCham Ball 2010 Presented by: The British Chamber of Commerce Date: Saturday 11th December 2010 Venue: Shangri-la Hotel Singapore

BritCham

NEW MEMBERS

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CORPORATE Pacnet Internet (S) Pte Ltd Richard Carden Managing Director, Asia Pacnet provides one-stop regional connectivity solutions, including award-winning internet access and value-added services for both corporate and consuners. www.sg.pacnet.com Ingenico International (S) Pte Ltd Vince Tallent Managing Director APAC Ingenico is a leading provider of payment solutions, with over 15 million terminals deployed in more than 125 countries. Its 2,850 employees worldwide support retailers, banks and service providers to optimize and secure their electronic payments solutions, develop their oﬀer of services and increase their point of sales revenue. www.ingenico.com

CORPORATE SME M3 Marine Pte Ltd Michael Meade Managing Director One of Asia’s largest independent oﬀshore ship broking and marine consultancy ﬁrms www.m3marine.com.sg

OVERSEAS CORPORATE Novus Media Solutions Pte. Ltd Rosemarie Wallace Chief Executive Oﬃcer www.novusasia.com Phi Partners Global Limited Kevin Matthews Director www.phipartners.com

INDIVIDUAL MEMBER Andrew Morriss Glyn Jones Adrian New

38 orient

www.britcham.org.sg

BritCham

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The Hideaways Club - investment &

Complimentary upgrade + spa treatment (A

luxury lifestyle uniquely combined

60-minute spa treatment is approximately

As a member of the British Chamber

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If you join the Club as a Lifestyle Member

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britishclub.org.sg

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Terms and conditions apply: Please present your chamber membership card prior to payment

Raﬄes Hotel, Singapore Britcham members will be entitled to: 15% discount of all Food and Beverage

Damai Spa - Grand Hyatt Singapore Grand Hyatt, Damai membership for $280 (plus GST) per month with no annual fee (one year contract. Annual fee is normally $2000). Enjoy all the beneﬁts of being a

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Singapore Cricket Club The Singapore Cricket Club are oﬀering Chamber members their special Term

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40 orient

www.britcham.org.sg

M ember Feature

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CELEBRATING 160 YEARS OF THE BOOTS BRAND

ith more than 160 years of history, the Boots brand has an excellent reputation for differentiated health and beauty products and excellent customer care. Last year, Alliance Boots celebrated the 160th anniversary of the Boots brand and highlighted its commitment to making Boots a global brand in the coming years. The first Boots store was opened in Nottingham in 1849 by John Boot, and since then the Boots name quickly became an established trusted brand. The company offered the highest quality products, at the most competitive prices, and delivered with excellent customer service, and this earned Boots the mantle of the “Chemist to the Nation”. 160 years on, the Boots brand has gone from strength to strength, both in the UK and internationally, and the Boots brand has just arrived in Singapore at www.boots.com/asia. Developing the Boots brand internationally The expansion of the Boots brand continues with the opening of new stores in countries such as the Republic of Ireland and Thailand. The key focus for success is to develop country specific Boots branded trading formats to meet local needs. Recently, this format development work was intensively applied in Norway with the successful roll out of the ‘Boots apotek’ pharmacy concept.

Following extensive consumer research and a detailed rebranding programme; more than 100 stores in Norway are now successfully trading as ‘Boots apotek’. Within a typical store specifically developed for the Norwegian market, a selected range of Boots own brand beauty products are sold alongside other health & beauty brands. This new pharmacy model is presented under the Boots brand, recognisable from the UK high street. It retains a comprehensive healthcare business with strong pharmacy credentials, and combines it with an extended retail offer. Another successful trading model has been the use of franchising. In the Middle East, Boots has opened branded stores in partnership with regional franchiser M. H. Alshaya Co, bringing their regional expertise and market knowledge to the partnership. Since the initial launch in May 2006, openings have followed in Qatar, Bahrain, Kuwait and Dubai. In March 2010, the first store in Saudi Arabia was opened at Mall of Arabia, Jeddah. This marked an important milestone in the development of the Boots retail brand in the Middle East. Boots brand development Boots experts continue to use their knowledge and expertise to develop unique and exciting ranges of Boots brands. In recent years, this included the introduction of No7 Protect & Perfect Intense Beauty Serum, launched in 2009, with a clinical study that showed the serum had genuine, long-term anti-ageing benefits. Using the same technology developed by Boots’ own

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skincare experts, experts the Serum7 range from Boots Laboratories, is an anti-ageing range proven to reveal visibly younger looking skin in just 4 weeks. This was launched to pharmacies in France and Portugal earlier this year, with further roll out planned for Italy and Spain. Using extensive distribution networks and relationships with independent pharmacies; bespoke development such as the Serum7 range enables consumers to benefit from innovative products in countries where there is no Boots retail pharmacy chain. Making the www work in retail The latest international development for the Boots brand has been the launch of its new consumer website in Asia. Creating a compelling multichannel health and wellbeing consumer offering has been the key driver behind the UK’s website www.boots.com. Here in Singapore, Boots now offers its exclusive own brand ranges 24 hours a day. Customers of www.boots.com/ asia can choose from a wide selection of great Boots brands including No7, Botanics, Soltan, Expert, Dermocare and Mediterranean, which can be purchased from the site and delivered by courier straight to customers here in Singapore. Visit www.boots.com/asia for more information.

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CELEBRATING THE CONTRIBUTIONS OF WOMEN IN ASIA

BS Coutts established the Women in Asia Awards last year in partnership with the Financial Times, to celebrate and recognise the growing business and social contributions of women in the region. After a successful debut in Hong Kong in 2009, the awards event returns this year for its Singapore launch. With today’s Asian woman increasingly shaping boardroom decisions, driving government policies and inspiring communities, the Women in Asia Awards aim to serve as a platform to create and nurture new female role models. “Asia, and in particular Singapore, is brimming with success stories of women who have made it on their own terms,” said Nick Pollard, Chief Executive Oﬃcer of RBS Coutts Asia. “Women in Asia are making a signiﬁcant impact on society today, be it in business or tackling social

and environmental issues. This award is a great opportunity to celebrate and inspire the growing ranks of successful women in the region.” Mr Pollard is part of the Awards’six-person judging panel, which includes Amanda Brooks, Deputy High Commissioner & Director of Trade and Investment, British High Commission; Claire Chiang, Senior Vice President, Banyan Tree Holdings Limited; Fang Ai Lien, Chairman of Great Eastern Holdings Limited; Lee Suet Fern, Senior Director of Stamford Law Corporation; and David Pilling, Asia Editor for the Financial Times.

The awards will be presented in three categories: •

•

Entrepreneur of the Year Award: For the woman who has successfully created jobs and market opportunities by building or turning around a business. A woman who is innovative, visionary and motivational. Woman Who Makes a Diﬀerence Award: For outstanding achievements in the ﬁelds of philanthropy, sciences, arts, culture, literature or sports. A woman who motivates and inspires the next generation. Rising Star Award: For the younger woman who has demonstrated her talent and potential in business. A woman who fosters the spirit of enterprise and is poised for the top.

in managing their wealth, as well as a platform to bring like-minded women together to engage in their pursuits. The bank is in a unique position to introduce this women-focused initiative. For over three centuries, the bank’s sister company Coutts & Co has managed the financial affairs of distinguished individuals from all walks of life, yielding invaluable insights into their lives and their attitudes to wealth. In addition to clients like Charles Dickens and Frederic Chopin, Coutts has also managed the finances of many successful women. They include Sophia Jex-Blake - the first woman to qualify as a Doctor of Medicine - and famed soprano Dame Nellie Melba, who inspired a dessert named in her honour. “Several years ago, Coutts launched its Coutts Woman proposition. The womenspecific approach broke new ground in the UK; and continues to be very successful. We aim to deliver an equally tailored and effective proposition to women in Asia,” said Mr Pollard.

Three finalists will be shortlisted for each category. The winners will be announced at an awards presentation gala dinner to be held in Singapore on 15th September 2010 at Eden Hall, residence of the British High Commissioner. The Awards build on RBS Coutts’ focus on women. In 2009, the bank launched a new private banking initiative tailored specifically for the high net worth (HNW) woman in Asia. A first in the region, RBS Coutts Woman is a new, focused approach to private banking aimed at assisting women

In addition to oﬀering clients a full suite of bespoke wealth management services, RBS Coutts Woman is also a platform to bring like-minded women together to engage in their passions such as the arts, wellness, sports and philanthropy. The new initiative is an extension of RBS Coutts’ segment-focused strategy. The bank has teams focusing on geographic markets as well as market segments entrepreneurs, family business owners, expatriates, professionals and the nonresident Indian (NRI) and South Asian community. For more information on the Women in Asia Awards: www.rbscoutts.com/ womeninasiawards.asp

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Members - Sterling News

ANGLOINFO IS EXPANDING IN ASIA

building networks

ngloINFO Singapore has recently taken on two more fulltime staﬀ: Alice Harding has a background in sales for IPC media in London and is the Advertising Assistant Manager. Andrea Chalupova Hessmo who formerly worked in PR & Communications in Stockholm is in charge of Editorial and Business Development. Further recruitment is planned for the Singapore oﬃce as the the UK company is expanding its franchises

in Asia. Sites in Pattaya and Phuket, Thailand have recently opened to complement the Bangkok site. The ﬁrst site in Indonesia located in Bali is scheduled to launch in 2010. In May alone, AngloINFO Singapore had over 2.2 million page-views from over 200 000 individual users. It is expected that the annual page request ﬁgure will exceed 26 million in Singapore and over 720 million globally for 2010. www.singapore.angloinfo.com.sg

BT CONFERENCING ADDS KONTIKI VIDEO PLATFORM TO EXPAND ITS UNIFIED COMMUNICATIONS SERVICES PORTFOLIO

T Conferencing, a leading global provider of audio, video and web collaboration services, has announced an extension of its Unified Communications (UC) portfolio through the introduction of Kontiki’s enterprise video solutions, including live video webcasting and video on demand services. Available immediately as part of BT Conferencing’s UC and collaboration offerings, the new service means that even the largest multi-national organizations can quickly and cost effectively send broadcast

quality video content to their employees’ PC’s regardless of which network they’re on.

Aaron McCormack, CEO for BT Conferencing, said: “With this latest offering, BT Conferencing becomes the only player in the market that can provide this complete Unified Communications portfolio. Our customers are able to communicate instantly and uniformly to their employees around the world with high-quality video. This includes small offices and homeworkers who are an increasing percentage of the workforce and are often unable to take part in townhall and all-hands meetings.” www.bt.com

HAYS REPORT SHOWS EMPLOYERS FIGHT TO RETAIN TALENT

he latest Hays Quarterly Report reveals that an increasing number of employers in Singapore are willing to counter oﬀer in eﬀorts to retain

their staﬀ. “Over the past few months, the number of vacancies has been steadily increasing. Rising vacancy activity naturally leads to a spike in candidate interest, particularly from those quality passive candidates that keep an eye on the market,” says Chris Mead, General Manager of Hays in Singapore. Unless they have communicated career development plans clearly,

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employees are likely to question their future and begin to explore the rising number of opportunities on the market. “For employers with a strong talent pool, this means you need to do everything you can to retain your team before they seek or attract interest from outside the business,” Chris said. www.hays.sg

Here.

There.

Everywhere.

Members - Sterling News

QATAR AIRWAYS’ NEW TOKYO ROUTE SETS OFF LARGE EXPANSION DRIVE IN ASIA

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atar Airways is actively exploring further growth opportunities in the Far East following the successful launch of ﬂights to Tokyo, its newest Asian destination, according to the airline’s Chief Executive Oﬃcer Akbar Al Baker. “Qatar Airways is seeing strong demand for air travel from the entire Asian region and is planning to open up a number of new routes in this vibrant region. The Asian market as a whole is one

of our biggest in terms of revenue generation, and Japan is very much part of our success story in Asia. Having entered the Japanese market with flights to Osaka five years ago, and now Tokyo, we are very pleased with the response from the Japanese public for our latest route here” said Al Baker, speaking at a press conference in the Japanese capital yesterday to mark the official launch of flights to Tokyo. www.qatarairways.com

STANDARD CHARTERED TO ACQUIRE SPECIALIST SME FACTORING AND HIRE PURCHASE FINANCING

tandard Chartered Bank has signed an agreement with a subsidiary of GE Capital to acquire GE Commercial Financing (Singapore) Ltd, a specialist in SME factoring and hire purchase ﬁnancing in Singapore. The acquisition signiﬁcantly up-tiers Standard Chartered’s specialist advisory capabilities in the Bank’s Small and Medium Enterprise (SME) business, bringing onboard a pool of experienced

talent and further expands its portfolio of diﬀerentiated product and service solutions for both new and existing SME customers. Ajay Kanwal, Regional Head of Consumer

Banking, Singapore and Southeast Asia, Standard Chartered Bank, said, “This acquisition is strategic as it further strengthens our franchise in Singapore and helps us become a core bank to our SME customers. Given our longstanding and strong commitment to the SME business, this enhanced expertise will beneﬁt our customers with increased ﬁnancing options to capitalize on business opportunities.” www.standardchartered.com.sg

STARHUB SELECTED BY PARK REGIS TO DEPLOY COMPREHENSIVE IT AND INFO COMMINUCATIONS INFRASTRUCTURE

tarHub today announced that it has been selected by Park Regis Singapore to deploy a comprehensive IT and info-communications infrastructure system that will enable hotel guests to experience the next generation in information, communications and entertainment services throughout the property. Under the new multi-year, milliondollar deal, StarHub will not only provide structured cabling, network infrastructure and uniﬁed

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communications system to all hotel rooms and backend operational facilities, it will also provide a sophisticated inroom IPTV system where guests will be able to access a wide range of Movieon-Demand services and StarHub TV channels with a comprehensive electronic programme guide. Mr Tan Tong Hai, Chief Operating Oﬃcer for StarHub, said, “Park Regis is a wellknown brand in the hospitality industry across the world. We are pleased that they have selected StarHub for the full

deployment and management of all their IT and info-comms infrastructure in their Singapore premise.” www.starhub.com

RETURNS ON 11 DECEMBER 2010 SHANGRI-LA HOTEL SINGAPORE TICKETS GO ON SALE SOON.

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BritCham Events

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BRITISH CHAMBER OF COMMERCE 15TH ANNUAL CORPORATE GOLF TOURNAMENT SENTOSA GOLD CLUB  SERAPONG COURSE THURSDAY 10TH JUNE 2010

Congratulations to our winners: Best Team

Best Individual Gross Best Individual Nett Nearest the Pin Longest Drive

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“BW Furniture” Luke Moffat, Lucas Shannon, Charlie Brazier, Craig Bannister Luke Moffat 79 Luke Moffat 37 David Martin 1.3m James Hewitt 260m

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Hole in One Sponsor

RaďŹ&#x201E;es Prize Sponsor

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BritCham Events

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LEADERS IN BUSINESS LUNCH: FROM THE BATTLEFIELD TO THE BOARDROOM Presenter: Sir Robert Alan Fry KCB, CBE - Chairman, McKinney Rogers International & Former Vice President of Hewlett Packard & Deputy Commanding General of coalition forces in Iraq Date: Monday 19th July 2010 Venue: RaďŹ&#x201E;es Hotel

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YOUNG BRITISH CHAMBER OF COMMERCE COMMITTEE YBCC Event: ‘Dragon’s Den’ Business Challenge Presenters: Marty Windle, Ian Robertson and Dave Bowman, IDG Singapore Date: Thursday 01nd July 2010 Venue: The Tanglin Club

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BritCham Events

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UKTI BRIEFING: DOING BUSINESS IN ASIA: OPPORTUNITIES FOR UK COMPANIES IN VIETNAM Presenter: Mr. Tim Brownbill, Consul General and Director UK Trade and Investment (Vietnam) Date: Tuesday 22nd June 2010 Venue: Shangri-La Hotel

UKTI BRIEFING: DOING BUSINESS IN ASIA: OPPORTUNITIES FOR UK COMPANIES IN INDONESIA Presenters: Ms Debbie Clarke, Director for Trade and Invesment, British Embassy Jakarta and Mr Chris Wren, Executive Director, British Chamber of Commerce, Indonesia Date: Tuesday 06nd July 2010 Venue: Shangri-La Hotel

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PIRACY IN THE SHIPPING INDUSTRY ANTI PIRACY TACTICS AND ECONOMICAL IMPACTS Date: Tuesday 29th June 2010 Venue: Shangri-La Hotel Presenter: Mr. Mark Powell, Author and ex-British Army

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BritCham Events

THE MACONDO FIELD BLOW OUT CONSEQUENCES FOR THE REGIONAL OIL AND GAS INDUSTRY Date: Thursday 22nd July 2010 Venue: Raﬄes Hotel Presenter: Mr. Huw Evans – Business Development Director, Twinza Oil

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Members - Corporate News

ABI ASIA MARKETING PUBLIC RELATIONS EXPANDS TO NEW OFFICE

building networks

BI, a leading global business-to-business marketing public relations ﬁrm, is eying expansion in Asia and expanding its Singapore oﬃce.

“To accelerate our clients’ growth in Asia, we have more than doubled our office space and are looking to hire more multilingual employees,” says Juliet Zhu, Manager Asia Pacific at ABI Asia. “Our global clients have a growing demand for ABI’s support in Asia, especially in China, India, and Southeast Asia. Our firm has the global reach and business-to-business experience to best help them grow in worldwide industrial and technology markets,” she adds. www.abipr.com

ALLENS GROWS SINGAPORE PRACTICE THROUGH KEY PARTNER MOVES

nternational law firm Allens Arthur Robinson is significantly boosting its South-East Asian practice, with former Clifford Chance Partner Rod Howell among those joining the firm’s Singapore office. “Rod has several years’ experience on the ground in Asia and, after a stint in New York, was keen to resume practising here,’ said Singapore Managing Partner Robert Clarke. “We’re delighted to welcome him back to the firm and his specific skills in a wide range of asset classes are in high demand given the strong economic growth in South-East Asia.” www.tsmplaw.com

AMBITION REPORT SHOWS SINGAPORE JOB MARKET SHIFTS FROM EMPLOYERDRIVEN TO CANDIDATEDRIVEN

mbition, one of Asia’s leading specialist recruitment groups, releases the ﬁndings of its 2010 Mid Year Job Market Trends and Salaries Report.

Paul Endacott, Managing Director – Singapore for Ambition, commented, “High calibre individuals have been able to secure multiple job offers and this is having an effect on salary inflation as companies compete for the best talent. Our advice to employers is to be aware of the shifting landscape and the need to be increasingly flexible about their requirements. They also have to move quickly on good candidates so as not to risk losing their preferred individual to a competitor.” www.ambition.com.sg

RECORD VIEWING QUARTER FOR BBC WORLD NEWS ACCORDING TO PAX DATA  DAILY GROWTH UP BY 22%

he latest Synovate PAX survey shows another record viewing quarter for BBC World News, with the highest weekly viewership since 2005.

Jeremy Nye, Head of Audience Insight at BBC Global News, says: “The rise in daily viewership is quite dramatic and demonstrates the level of engagement viewers have with BBC World News. The channel is more vital than ever. These outstanding growth rates are a quick reward for our recent investments in programming aimed at audiences across Asia.” www.bbc.co.uk

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INTERNATIONAL ARCHITECTS BENOY SCOOPS MAJOR GLOBAL INDUSTRY AWARDS

midst steep competition, Benoy’s iconic ION Orchard development in Singapore has been named ‘International Retail and Leisure Destination of the Year’ at the Global Retail and Leisure International (RLI) Awards 2010. Chairman of Benoy, Graham Cartledge CBE, said “We are honoured to have been acknowledged by our industry and be recognised for our hard work designing aesthetically pleasing and commercially successful buildings. St David’s and ION Orchard are testament to our commitment to design and deliver world-class projects. The entire global Benoy team, our clients and colleagues can share in this industry recognition. These Awards are something we can all take pride in.” www.benoy.com

BRITISH THEATRE PLAYHOUSE ORGANISES “ART FOR CHARITY” IN AID OF KK HOSPITAL HEALTH ENDOWMENT FUND

aising money for good causes is part of the British Theatre Playhouse philosophy and the company is delighted to collaborate with the Association of Women Doctors in raising a grand total of S$93,693 through ticket sales and charity auctions in aid of KK Hospital Health endowment Fund to the beneﬁt of needy women with cancer and chronic illnesses in Singapore.

Guest-of-Honour, Minister for Education - Dr Ng Eng Hen and his wife Professor Ivy Ng and guests enjoyed pre-show cocktails and Sparkling Shiraz specially ﬂown in by Wyndham Estate for the occasion. www.britishtheatreplayhouse.com

BRITISH AIRWAYS IS OFF TO A FLYING START

atrons of British Airways (BA) can now play their part in helping vulnerable and disadvantaged children across the world through “Flying Start”, a new, global charity partnership between BA and Comic Relief, which has pledged to raise up to £8 million ($17 million) by 2013.

Willie Walsh, British Airways’ chief executive, said: “Our partnership with Comic Relief will bring new help and support to underprivileged children around the world. We have a great tradition of giving and, with our customers and our people, we will raise much needed funds.” www.ba.com

BW FURNITURE INTRODUCES “OF COURSE” BY SEDUS

edus have once again surpassed themselves in producing the “Of Course.” A stylish, managerial chair with cutting-edge ergonomics. With its wide range of finishes, the “Of Course,” impresses in any office. The “Of Course” is available as an executive swivel chair on casters or an executive conference chair on gliders. The executive chair has a high backrest with integrated neck support and “independent fit” technology. In line with the Sedus environmental policy, the “Of Course” is made of 97% recyclable materials…so how is it possible not to say … “Of Course”! www.bwfurniture.com orient 57

Members - Corporate News

building networks

CABLE AND WIRELESS WORDLWIDE IS POSITIONED AS A “CHALLENGER” IN MAGIC QUADRANT FOR ASIA PACIFIC NETWORK SERVICE PROVIDERS

able&Wireless Worldwide announced that it is positioned as ‘Challenger’ in Gartner’s latest Magic Quadrant for Asia Pacific Network Service Providers for the year 2010 published on June 28. The evaluation is based on Completeness of Vision and Ability to Execute. Nick Lambert, Managing Director, Global Markets, Cable&Wireless Worldwide said: “We are particularly pleased to be recognised for our flexible approach towards meeting non-standard requirements for our customers. As a nimble and flexible organisation, our DNA enables us to scale service and support, as well as our solutions offer to customer needs, with good response times”. www.cw.com

CARTUS SURVEY SHOWS NEW TRENDS IN GLOBAL RELOCATION

ccording to Cartus’ 2010 Global Policy & Practices Survey, a new global workforce is emerging following the worldwide economic downturn. Some key findings include: Young and/or single: There is a strong trend toward young, single assignees who typically require less financial support than assignees with accompanying families. “Going local”: In increasing numbers, employees who take jobs in other parts of the world are moving permanently with compensation and benefits more reflective of the new location. New emerging markets: Multinational companies are moving assignees to new and challenging locations including Mexico, Turkey, Saudi Arabia, and Vietnam. www.cartus.com

CROWN SINGAPORE REMOVES SHOES FOR CHARITY

n June, on a slightly drizzly, cool morning, around 30 Crown staﬀ gathered to remove their shoes for a 5km walk for charity, invited by primary sponsor, Barclays.

organization that helps rebuild and renovate homes in underdeveloped areas. Following the walk, the volunteers gathered for breakfast and refreshments, and to nurse their blisters. www.crownrelo.com

“Bare Your Sole” was organized by Habitat For Humanity, a charity

DHL AND NUS TO LAUNCH ASIA PACIFIC’S FIRST SUSTAINABLE SUPPLY CHAIN CENTER

HL, the world’s leading logistics company, and The Logistics Institute of Asia Pacific (TLIAP) of the National University of Singapore (NUS) announced the launch of the inaugural Asia Pacific Sustainable Supply Chain Center (APSSCC) on Thursday, 1 July. Hosted at TLIAP, the APSSCC aims to develop toolkits, best practices and know-how in sustainable supply chain solutions for the logistics industry across the Asia Pacific region. The APSSCC is the realized vision of a partnership between the business and academic communities to develop advanced knowledge of sustainable supply chain management solutions. www.dhl.com 58 orient

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ELMWOOD IS THE UK’S 25TH FASTEST GROWING COMPANY OVERSEAS

lmwood, the Yorkshire-born design agency, featured in yesterday’s Sunday Times where it was listed as number 25 in an independent poll of British companies experiencing rapid overseas growth. With an average of 96.40% increase pa over the past two years, chairman Jonathan Sands credited the New York City and Melbourne, Australia oﬃces with the rapid expansion. International Track 100 is compiled by Fast Track and was published as a supplement in The Sunday Times yesterday. Elmwood was ranked number 25. www.elwood.com

EVANTAGE TECHNOLOGY PROVIDES BOUTIQUE IT SERVICES FOR THE FINANCIAL SECTOR

Vantage Technology is a boutique IT company that launched in February this year with services tailored speciﬁcally to SMEs in the Financial Industry.

The Directors - Sam Walker and Soo-Meng Lim - have together more than 30 years experience in top international IT management positions. Backed up by a team of highly qualiﬁed support engineers and project managers, eVantage Technology are conﬁdent that they are perfectly positioned to take the headache of all IT related matters from their clients’ hands.” www.evantage-technology.com

FRIENDS PROVIDENT INTERNATIONAL’S FIRST INVESTOR ATTITUDES REPORT REVEALS SINGAPORE CONSUMERS ARE POSITIVE ON INVESTMENT OPPORTUNITIES

riends Provident International announces the launch of its ﬁrst Investor Attitudes report that shows investors in Singapore are upbeat on investment opportunities under the current economic environment. Chris Gill, principal oﬃcer of Friends Provident International Singapore, commented, “It’s unsurprising to see gold is a popular investment choice as commodities become increasingly accessible as an asset class. It is also very encouraging to see that so many investors share a positive outlook.” www.fpinternational.com

IPAC STAYS CONNECTED THROUGH “WORDOFMOUSE”

pac ﬁnancial planning Singapore today launched its new website and announced its Go Green initiative in a move to provide enhanced services for its clients. The relaunched website sports a new look and is designed for improved user navigation and functionality, and signals Ipac’s increased drive to the web, following its launch of its Online Wealth Manager tool last year. “The launch of our website reﬂects our commitment to keeping clients updated on the latest information in a timely fashion. Nowadays it’s no longer ‘word-of-mouth’, instead it’s ‘word-ofmouse’,” said Gary Harvey, CEO, ipac Wealth Management Asia. www.ipac.com.sg

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Members - Corporate News

JUPITER WINS BEST GROUP IN ‘WHAT INVESTMENT UNIT TRUST AWARDS 2010’ FOR THE SECOND YEAR IN A ROW

building networks

upiter Unit Trust Managers Ltd has won the award for Best Group in the What Investment Unit Trust Awards 2010 for the second year in a row. What Investment is one of the UK’s leading consumer finance magazines. Jupiter beat off competition from nine rivals to win the award, which was judged by a panel of independent experts drawn from across the industry. David Conway, Sales Director at Jupiter International, said: “This is a very satisfying achievement, particularly given the difficult market conditions we have faced in the past few years, and testament to the efforts of our team of talented fund managers.” www.jupiterinternational.com

KPMG AND INFRASTRUCTURE JOURNAL ANNOUNCE THE WORLD’S LEADING INFRASTRUCTURE PROJECTS

wo Singapore based infrastructure projects, ITE College West Campus and the Next Generation Nationwide Broadband Network (NGNBN) are among the top 100 infrastructure projects in the world. Mr Satyanarayan R Satya, Asia Paciﬁc Head of Government at KPMG noted, “With Asian economies poised for strong growth, the volume of infrastructure projects is set to increase signiﬁcantly. Governments and organisations which are keen to ride the wave of booming infrastructure growth in Asia should look toward the Infrastructure 100 projects as shining examples of leading practices in delivering projects successfully.” www.kpmg.com

M3 MARINE PLAYS AND INTEGRAL ROLE IN THE EVOLUTION OF THE COMPACT SEMI SUBMERSIBLE VESSEL

ne of Asia’s largest independent offshore ship broking and marine consultancy firms, M3 Marine, has been instrumental in the conceptualization and development of a new vessel type – the Compact Semi-Submersible (CSS). The CSS concept was first envisaged some five years ago when offshore vessel operators and specialist subsea service providers came under increasing pressure to meet and exceed the expectations of Oil Operators – significantly enhanced vessel operational capabilities (even under harsh environmental conditions) along with a sizeable amount of cost savings. www.m3marine.com.sg

FLAG OFF THE NIGHT RACE FROM MANDARIN ORIENTAL

rom 24 to 26 September 2010, celebrate the Singapore Night Race with a winning formula of great food and drink at Mandarin Oriental, Singapore. During the openwheeled auto racing season, guests can indulge at MELT ~ The World Café where an enticing line-up of international fare awaits. Plasma televisions in the restaurant will screen recorded races in the afternoon and show live racing in the evening. The restaurant’s own live stations will feature a wide assortment of dishes freshly prepared by the chef à la minute. The alfresco patio also features an extensive selection of sizzling grilled items and an array of homemade sausages. www.mandarinoriental.com

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MAROON ANALYTICS APPOINTS NEW COUNTRY MANAGER

arry Jones of Maroon Analytics has been appointed the Singapore Country Manager for Angels Den. Angels Den exists to help entrepreneurs and SME owners get the investment they need to take their businesses into high growth, and with over 3,000 High Net Worth investors is the largest angel network in Europe. Barry said: “I am delighted to be able to help Angels Den bring their business model to Singapore, and at the same time give a much needed shot in the arm to our economy”. www.maroonanalytics.com

STEPHENSON HARWOOD EXPANDS INTERNATIONAL SHIPPING PRACTICE

nternational law ﬁrm Stephenson Harwood continues to expand its pool of talent in Singapore with the appointment of new partner Dirk Janssen who joins a team of over 100 lawyers worldwide in the ﬁrm’s international shipping and energy practice. Durai Shunmugam, head of Stephenson Harwood’s Shipping Litigation practice in Singapore said, “We are really pleased that Dirk agreed to join us as he is well known in the shipping and energy markets and liked for his qualities both as a lawyer and as a person.” www.stephensonhardwood.com

TNT MARKS FIFTH YEAR OF THE ASIA ROAD NETWORK WITH A FURTHER INJECTION OF €4.5 MILLION OVER NEXT TWO YEARS

NT, one of the world’s leading express integrators, announced that it will make a further 4.5 million euro (about S$7.61m) investment in its successful Asia Road Network (ARN), which currently serves 7 countries and 127 cities in Southeast Asia and southern China. “We are delighted that TNT’s Regional Hub in Singapore is a critical point that enables the company to manage and further connect its innovative Asia Road Network with its air network. TNT’s celebration of the Asian Road Network marks a signiﬁcant milestone in TNT’s strong partnership with Singapore.” said Mr Kelvin Wong, Director, Logistics, Singapore Economic Development Board. www.tnt.com

WATSON, FARLEY & WILLIAMS LLP BOOSTS ITS SINGAPORE ARBITRATION PROFILE BY BEING RECOMMENDED BY PLC’S “WHICH LAWYER?”

he Singapore office of Watson, Farley & Williams LLP (“WFW”) has boosted its arbitration profile by being ranked as a “recommended” law firm for regional arbitration by PLC’s Which Lawyer? ratings. Head of the WFW Singapore International Arbitration Group, Marcus Gordon, was also individually commented, “WFW Singapore has one of the largest arbitration teams of any offshore firm in Singapore and we have secured numerous impressive, high value and high profile instructions, particularly in the shipbuilding, oil & gas construction and commodities sectors. We are delighted to have been recommended for the first time in the PLC rankings.” www.wfw.com orient 61

Destination

creating opportunities

CEBU’S ENDANGERED GEMS By Mike London, Editor, fast:track, BBC World News

ne destination that offers a wealth of options for tourists on and off the beaten track is the island of Bohol in the Philippines. It is home to a number of iconic Filipino landmarks and also a mysterious tiny creature that is on the endangered list. Mike London, Editor of BBC World News TV’s, travel show fast:track explains how tourists can help to guarantee its survival. Cebu is one of the largest cities in the Philippines - its bustling streets roar to the sound of jeepneys, buses and taxis but only a short boat ride away lies the island of Bohol. It’s the main island amongst a cluster of 75 smaller ones and has perhaps become the most famous for its Chocolate Hills, a stunning range of over 1200 grass covered mounds which turn chocolate brown during the dry season. Legend has it that the hills were formed by a giant’s tears shed on hearing of the death of his more pintsized lover - the more scientifically minded claim is that these hills are the result of the uplift of coral deposits and the action of rain water and erosion over hundreds of thousands of years

The ﬁrst thing to strike you when you encounter a tarsier is their enormous, bug eyes which are 150 times larger than a human’s in relation to its body size. Although mainly nocturnal, scientists are still debating why the tarsier’s eyes are so big. One theory is that the tarsiers could be descended from a much older branch of the primate family, which has since disappeared. Although they are small, tarsiers are big eaters and despite their cute looks

The origins of Bohol’s’ other famous attractions are equally lost in the mists of time but right now it is their future which is the main concern. Usually between 12 and 14 centimetres in height, the Philippine Tarsier is one of the smallest primates on earth. Neither monkey or lemur, tarsiers have their own distinct lineage and are now found only in South East Asia – mainly in the Philippines, Borneo and Sulawesi, although Bohol has become the most famous place to see them.

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they will snap up pretty much anything which is smaller than them and happens to be passing – from insects and snakes to birds and lizards. In addition to their huge eyes, the tarsier is also able to swivel its head almost an incredible 180 degrees as it scopes the forest for snacks - making it one of nature’s best CCTV devices. Finding one is the first task but with the help of a trained guide that should not be too difficult. However once you come face-to-face, or eye-to-eye, rather than run away the tarsier will sit clinging to its branch, almost paralysed by fear. In the snap-happy world of tourism, that makes for happy customers as there is plenty of time to get the money-shot most travellers are after but conservationists are becoming increasingly concerned about the effect tourism is having on the tiny tarsiers. Russell A. Mittermeier, President of Conservation International told fast:track, “What’s remarkable with those zoos and I visited one of them, is that there’s an open air enclosure; it is not closed at all, and there are eight to 10 tarsiers sitting on trees, and literally thousands of tourists coming by everyday to look at this animal, they get

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to a few feet of them, they take pictures and occasionally they touch them, and the tarsiers don’t try to escape. These little guys just sit there and turn their little heads on a swivel and they look at you. And they are nocturnal so it must be pretty stressful for them to be approached by so many people, literally thousands of people every day.” Tourism is an industry which is often great at boosting local economies but in our travels for the programme we have often seen the downside as communities are ripped apart and local ﬂora and fauna are treated more like a commodity rather than important parts of a delicate ecosystem - and here in Bohol the tarsiers have become so popular that small zoos and enclosures featuring tarsiers have been cropping up across the island.

Carlito Pizarras from the Philippine Tarsier Foundation told me that the more popular the tarsiers become the more he is worried about their survival. “They don’t like to be stressed, if there is a noise they can bump their head on a hard object and they don’t breathe, that’s the life of a tarsier; they are suicidal, they are very, very delicate.” Sadly a quick search on YouTube brings up a whole stream of clips showing people stroking and even holding tarsiers at many of the more unregulated attractions on Bohol. They make for uncomfortable viewing as these undeniably cute creatures sit paralysed by fear as cameras and mobile phones are forced in their faces and the noise

levels rise as groups of tourists fight for the best shot. A combination of noise, handling and the sheer size of the humans approaching them can literally scare the tarsiers to death. Although tarsier attractions on Bohol are required to have a Department of Environment and Natural Resources permit, detractors say the verification process is far from stringent and more regulation is needed to protect these tiny primates. One place which is trying to ensure that tourists stay at a safe distance is the Tarsier Research and Development Centre in Corella. Tarsiers are rainforest animals, but unfortunately in the Philippines there’s only around 3-4% of what once existed in terms of rainforest cover. At the Tarsier Research and Development Centre you will find a 20-square acre sanctuary nestled within a much larger protected area and it is home to over 100 tarsiers. Tourists are asked to make a small donation to enter the reserve in order to see these shy creatures. The Centre was the brainchild of Carlito Pizarras who says that he is still shocked by the way tarsiers are exploited by the tourist trade. “When I saw them in the cages at other attractions it makes me feel very angry although now we have a provincial order to put a stop to this but it still has not been implemented.” At the Research and Development Centre tourists are encouraged to learn more about the tarsier and with a help of a guide, are more or less guaranteed a sighting but here they are banned from holding or touching the animals and any photography has to take place at a safe distance with a lack of fuss and noise. With its strict rules and focus on research and education this internationally acclaimed non-profit making project is being hailed as the best hope the tarsier has of surviving the double attack from tourism and the 21st century.

Conservationists say that the best hopes for the survival of this cute but endangered species lie with the kind of semi-wild environment created in Corella. Tarsiers taken into full captivity seldom survive or reach full maturity. For the past 50 years, attempts to breed the species under controlled conditions both here in the Philippines and overseas have met with little success but that still does not stop foreign tourists and collectors trying to smuggle tarsiers home to keep as pets - usually spelling a death sentence for the animals. Despite the best eﬀorts of the Research and Development Centre some people would like to see the Filipino government go one step further to ensure the survival of one of the world’s smallest primates. Russel A Mittermeier, President of Conservation International, says that the only way to stop tourists poking and playing with these bug-eyed creatures is to erect physical barriers. “They must be under an enormous amount of pressure so there needs to be glass or a fence of some kind to stop people going up and touching them – what’s remarkable is there are still zoos with open air enclosures full of tarsiers.”

www. bbcworldnews.com

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creating opportunities

Wine review

WINE UPDATE FROM RUBICON RESERVE WINES BY DAVID COLEMAN, OWNER, RUBICON RESERVE WINES

Pinot on the Rise While it has a ring to it that has me day dreaming of a great song by the Doors, the rise of Pinot Noir (PEE-no nwahr) is no less amazing as it rockets up the charts of best sellers. Some attribute this rise to fame, to the cult wine movie Sideways, which took worldwide audiences by storm a few years ago and got an Oscar on the way! Overnight sales in the USA jumped by 20% as a whole new generation of American consumers put down their glass of Merlot or Cabernet Sauvignon and tried something new. Through the power of the box oﬃce a new trend was created and Americans revelled in the complexities of Pinot Noir.

Here in Asia Pinot Gris/Grigio is going to have even more impact. I have been saying for years that Pinot Gris/Grigio will be the Sauvignon Blanc of Asia, as it has a far better palate profile for Asia than Sav Blanc. As a style, both types have a lot less acid than Sav Blanc, which is a great start, but both have that great clean fresh citrus taste that makes it such a go-to-wine straight after work. In addition to this, Gris has flavours of Asia such as Lychee and Pear which makes it identifiable to Asian consumers and also a very good match to the lighter aromatic foods that Asia is famous for.

Pinot like no other grape has its fanatical followers, cork dorks, who will debate quality, complexity, colour and any other manner of wine making as if were a life or death matter. I am frequently asked at tasting by mystiﬁed social drinkers who still bare the scares after been mauled by such a cork dork, why this is the case. The answer lies in the fact that like the cork dorks, the Pinot Noir grape is a little thin skinned and that makes it very hard to grow and even harder to make. As such when the troublesome little berry is tamed, the wine maker and all involved, including the drinker get quite excited. This is why Pinot is the most expense bottles of wine in the world, yes even more expensive than those astronomically priced prima donnas in Bordeaux!

If you have not tried Pinot Gris/Grigio before do yourself a favour and put down that glass of Sav Blanc and pick up something new to open up a whole new world ﬂavours and experiences.

In the world of Pinot I am only telling half the story by focusing on Pinot Noir, as Pinot Noirs aromatic cousin Pinot Gris/Grigio has been on a meteoric rise of its own. Before I get into this meteoric rise, a slight segway is needed just to clear something up. Pinot Gris (PEE-no-GREE) and Pinot Grigio (PEE-NOE GREEJOE) are the same grape, no diﬀerent, just that Gris is from the Alsace region in France and Grigio is from Italy. While Europe has always enjoyed its Pinot Gris/Grigio, the major wine consuming markets the UK and the USA have only just woken up to the delights these wines have to oﬀer. As such demand has soared much to the delight of non-traditional Pinot Gris/Grigio producers such as New Zealand who make a great wine at great prices. The broadening of the wine producing nations is a win, win for everyone as we as consumers get more choice and the wine producers have another string to their bow when competing in the very competitive world of wine.

For more information on these wines check out the great deals on the BritCham Wine Club and keep an eye out for the monthly promotions in the Orient.

Orient Oﬀer – August/September New Zealand Pinot Tasting Case Misha’s Vineyard Dress Circle Pinot Gris 2009 Misha’s Vineyard High Note Pinot Noir 2008 Astrolabe Pinot Gris 2008 Astrolabe Pinot Noir 2008 Durvillea Pinot Grigio 2009 Durvillea Pinot Noir 2009 6 Bottle Tasting Case: $240 (Including GST)

Visit the BritCham Wine Club at www.britcham.org.sg to take advantage of these special oﬀers.

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World Bank increases funding for developing countries with USD 6 billion bond The Client’s Challenge The World Bank provides financing to developing countries for programs that reduce poverty and improve standards of living. The financial market crisis threatened to deteriorate conditions in these developing economies even further. The World Bank had to be prepared for the growing demand for financing from its members.

Our Response Our close working relationship with the client enabled us to deliver fast and insightful recommendations on how to seize new opportunities and adapt to the new ﬁnancial landscape. The unprecedented scale of funding needed and complexity of the markets required multiple cross border teams to work together as a cohesive global team. They delivered multiple transactions that altogether provided 30% of the World Bank’s increased funding requirement and included the USD 6 billion record-breaking bond.

The Result Despite challenging market conditions, the largest ever USD issue by a supranational issuer and the World Bank’s largest ever transaction in over 60 years of existence was successfully delivered. It helped increase conﬁdence and reopen markets earning it multiple awards including, ‘IFR 2009 SSAR Bond of the Year’ and ‘EuroWeek Dollar Supranational Deal of the Year’.

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RBS Securities Inc., a registered broker-dealer and member of FINRA/SIPC, is an indirect, wholly owned subsidiary of The Royal Bank of Scotland plc. The Royal Bank of Scotland plc is authorised and regulated by the Financial Services Authority in the United Kingdom. Registered Ofﬁce: 36 St Andrew Square, Edinburgh EH2 2YB. Registered in Scotland No. 90312. This advertisement has been prepared for information only. It should not be construed as an offer to sell or the solicitation of an offer to subscribe for a product or service. The Royal Bank of Scotland N.V. is an authorised agent of The Royal Bank of Scotland plc.