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 28 : D E C E M B E R 2010
w w w.britcham.org.sg
FEATURE:
BRITCHAM 2010 REVIEW & UPDATE
INSIDE BRITAIN: THE UK A SPRINGBOARD FOR GLOBAL GROWTH
CAR REVIEW:
THE NEW AUDI A8 LIGHT YEARS AHEAD
FAREWELL
HE PAUL MADDEN, BRITISH HIGH COMMISSIONER & CHAMBER PATRON’
building networks connecting business creating opportunities
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Editor: Sebastien Barnard
EDITORIAL
Economic & Business Insights: Here Comes the Second World Page
33 - 39
Inside Britain: London Housing Crisis has a Silver Lining for Potential Investors
24 - 25
Feature: BritCham 2010 Review
12 - 21
Patrons Message: Farewell interview with HE Paul Madden, British High Commissioner & Chamber Patron
Farewell interview with HE Paul Madden, Brit
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BritCham Events Roundup
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London Housing Crisis has a Silver Lining for
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UK Inheritance Tax– Fry Group A Missed Opportunity: Use of Social Media b
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Here Comes the Second World – The Insight B
BritCham Members Offers Q
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Orient is a bi-monthly magazine published by the British Chamber of Commerce.
Sterling News
48 Members – Sterling News
BritCham Events Calender 2011 Q
The or im autho reflect
British High Commission News December 20
44 BritCham
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42 High Commission News
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Reinventing Business Space – Ascendas Q
– Burson-Marsteller
Asia’s 10-year Outlook: Enter the Consumer – Q
26 Economic and Business Insig
The UK – A Springboard for Global Growth –
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22 Inside Britain
BritCham News December 2010
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12 December 2010 Feature – Br i
& Chamber Patron
Patrons Message
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Arts & Culture
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The new Audi A8 – Light years ahead
BRONZE SPONSORS
SILVER SPONSORS
PLATINUM SPONSORS
BER OF COMMERCE, SINGAPORE SPONSORS
Cars
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On The Trail Of The Rare Black Rhino – BBC World
Destination
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Writing the City: an initiative to promote & encourage creative writing – British Council
Corporate News
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Members - Corporate News
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Leaders in Business Lunch – Focus India – His Royal Highness The Prince Andrew, Duke of York Networking – New Members Night BritCham & UKTI Breakfast Briefings – Doing Business in Asia BritCham Breakfast Clubs – October & November 2010
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If you’d like to invest with a leading company that really understands the n international investors, ask your financial adviser how you can share in our success.
Skandia International are also proud winners of their Best International Lif Best Commitment to Service awards.
But don’t just take our word for it. Financial services experts at ‘Internatio the authoritative UK magazine for international advisers – have just judge the very first winner of their new award in 2009: Best International Provi
We have extensive experience in providing services for international invest
Royal Skandia in Singapore is a premier provider of offshore investm within Skandia International. We offer access to a wide range of asset number of third-party fund managers and other organisations.
share in our success
ry Christmas and a Happy New Year, season, on behalf of the Chamber
to present a cheque for $10,000 to om contributions kindly donated by Jackie Stewart. Finally the BritCham aside serious issues and let your hair ctacular evening that’s been prepared
f the Chamber’s Patron and enduring ellency Paul Madden, who heads for h Commissioner in Australia. Thank
ges recently. Both Simon Wilson and K and David Conway, who in recent rvices group, has stepped down to now sees him with much less time in structive contributions to the Board, New Year will welcome three new Adams a Partner with Watson Farley oup Chairman of Ogilvy & Mather, cer & Head of Sales Asia for Skandia
Last month the Board held L a strategic review meeting, something we do at least ger-term look at the Chamber’s plans to deliver members expectations for r membership and to grow our profile o deliver a healthy surplus from our we are putting strategies in place to
There will be some new T ffaces in the office in 2011, aas our Accounting Manager Emmeline Ng is moving E on to a management role o iin the shipping sector aand our Marketing & Communications Manager C SSebastien Barnard is taking on a Regional role in the o eeducation sector. Over past yyears both have contributed much to delivery of the m Chamber’s offering, it’s C heartening that they are h ttaking on roles of increased rresponsibility and we thank tthem for their contribution aand wish them well.
healthy finances, healthy membership rseas business mission and having put lestone has also been achieved in our nching of our totally new Chamber more. The new website is certainly lementation is featured is this issue.
Calamander Capital Rolls Royce Singapore Pte Ltd The Royal Bank of Scotland Barclays Bank PLC BP Singapore Pte Limited SCB British Airways Diageo HSBC The Insight Bureau Pte Ltd Ernst & Young Solutions LLP Skandia International Ogilvy & Mather Singapore Pte Ltd
MANAGEMENT TEAM: Executive Director: Brigitte Holtschneider Events & Business Group: Tiffeny Kua Marketing & Communications: Sebastien Barnard Membership Manager: Katie Hudson Business Enhancement & Event Development: CH Ngooi Office Administration & Membership Support: Emi Hosono
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
COMMITTEES: Events: Philippe Touati Membership: Andrew Vine Corporate Social Responsibility: Steve Puckett External Affairs: Terry O’Connor Marketing & Communications: Chris Davies Young Professionals: Miles Gooseman
BOARD MEMBERS: Roman Scott John Horsburgh Alan Goodyear Kevin Burke Hak Bin Pek Philippe Touati Nick McGlynn Richard Burn Ingrid Child Andrew Vine Emma Boyd David Macdonald Stephen Mangham
PRESIDENT: Steve Puckett - Tri-Zen International Pte Ltd VICE-PRESIDENTS: Chris Claridge - TCP Group Pte Ltd Hugo Walkinshaw - Deloitte Consulting SE Asia TREASURER: Peter Allen - Pacific Century Regional Development HONORARY SECRETARY: Damian Adams - Watson, Farley & Williams LLP EX-OFFICIO: Amanda Brooks - British High Commission Sarah Croft - British High Commission Mark Howard - British Council
BRITCHAM BOARD:
STERLING MEMBERS
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I was back in the UK earlier this year speaking to several hundred companies at business seminars in London and Manchester. There was a great deal of
How do you think companies in Britain view Singapore and South East Asia?
Whether the economy is up or down, I think British companies have shown real commitment to this part of the world. Of course many of them have been here for decades and take a very long term view. After all, we’re the second largest investor here. New ones continue to arrive. As High Commissioner I’ve often had the pleasure of opening new plants or offices for a wide range of British companies, large and small. They range from aerospace to oil & gas, marine to financial and professional services. Over my time as High Commissioner, the number of British people living in Singapore has increased 50% to 27,000. There has been a lot of growth in financial services and regional HQ operations – many British companies now run their operations across huge parts of the world from Singapore. The other thing I’ve noticed is an increasing tendency for people to stay on for longer periods. Often people who came here with a big multinational ended up staying to set up their own niche businesses in fields like consultancy.
rmously ewed – rms and f change n I grew much as ore has opolitan, range of vents at y Sands here for e is now national ver our to watch cKellen, r.
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Do you see any emerging trends in British business here?
during
When I first came here in 2000 the region was still suffering from the aftermath of the Asian crisis, property prices were depressed and business was sluggish. By the time I came back again in 2007 Singapore was on a roll. All my Singaporean friends were talking about how much their houses had gone up over the last year, or complaining that their condo was being “en blocked”. Then the Global Financial Crisis struck. I remember Sunday mornings cycling along East Coast Parkway and looking
out at all those empty container ships in the Malacca Straits. Singapore’s role as one of the world’s busiest ports makes it a really good proxy for the global economy. So the renewed growth we are seeing this year is very encouraging.
HE Paul ngapore even of Deputy as High
UL MADDEN, BRITISH HIGH SIONER & CHAMBER PATRON
What does the British government do to help British companies?
In my experience Singaporeans see British companies as delivering high quality, but sometimes a bit expensive. Obviously the more competitive sterling over recent times has helped a bit with that. The Singaporean government has been very keen to attract worldclass research-driven British companies like Rolls Royce and GSK to expand their investments here. And Singapore companies see Britain as their best gateway into Europe, that’s why we attract three quarters of their investment in the EU. The two sovereign wealth funds, GIC and Temasek, are major investors. Earlier this year I visited SembCorp’s huge facility on Teeside (the former ICI Wilton complex), and I’ve also visited Comfort Delgro who run one in six of London’s buses. Most Singaporeans I meet applaud the British government’s tough decisions on reducing the deficit, but they counsel that it is important to maintain investment in the science base and education. Singaporeans admire Britain’s great universities and study there in very large numbers: it’s extraordinary to live in a foreign country where half the cabinet went to Cambridge.
And how do Singaporean companies view Britain?
now. But I think many British companies, particularly SMEs, see Singapore as a very accessible entry point into the region. Certainly my UKTI team at the High Commission are well ahead of all their targets for supporting British companies this year, which is a good indicator of the level of interest from the UK.
How can the British Chamber work with the High Commission?
Around a quarter of the 100 or so staff at the High Commission work on supporting business. Our UK Trade & Investment team help UK-based companies in a number of ways. They can provide background information or carry out tailored market research and introductions on a chargeable basis. They support visiting trade missions and delegations to the major regional trade shows which Singapore regularly hosts. Our economists are working with companies here and in the UK to identify priorities for the Free Trade Agreement currently being negotiated between the EU and Singapore, to ensure that the final deal delivers real benefits to British business. We often use VIP visitors, such as trade ministers, to promote British commercial interests. Chamber members will be well aware of the regular visits by the Duke of York in his capacity as UK Special Representative for International Trade and Investment. And I host numerous events at Eden Hall to support business organisations or individual companies. My Residence, Eden Hall, has been dressed up to look like a bar to promote Diageo’s Johnny Walker Blue, and like a chemists to support Boots online launch here. We’ve served Devonshire Cream Teas to Singaporean travel agents to encourage them to send more tourists to Britain, and hosted gala dinners for the high profile clients of a number of British banks. Of course in these straitened times we charge for use of the facilities, but companies tell us they find this very reasonable. And the High Commissioner usually throws in a few jokes for free.
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Events The Chamber’s events are the backbone of its activities. It is through events that the Chamber offers the opportunities for members and non-members to building their networks, connect with potential partners and participate
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Another key aim in the development of the site was to facilitate connecting of
image. The site also needed to be more dynamic, ever changing; interesting users to return time and time again to see what was new. This has been achieved through the use of rotating banners displaying the most up-to-date and critical Chamber information as well as a new photo gallery, additional useful business related links, member benefits and a new member homepage.
business. The idea is to provide a facility for members to connect with each other through the Chamber. This has been done through a new communication tool in the member’s area and through the membership directory. Members can message each other through the member directory as a way to initiate business contact. We hope members will check this out and use it to connect with fellow members.
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Conclusion Bigger, Closer, Smarter; the core drivers of the Chamber over the past few years is embodied in the new www.britcham. org.sg. Check out the new events booking facility. Check out the new photo gallery. Check out the useful links under ‘Doing Business’. Communicate with your fellow Chamber members through the one-to-one messaging tool. And if you get asked by a non-member what can a Chamber do for their business, direct them to the ‘What can BritCham do for me?’ page. And there is more to come. Work continues on new tools
Te Technology T TThis brings us to the bits you as members rarely see, the ‘back-end’. m TThe tools and support the Executive office uses to run the Chamber o efficiently across all areas; Events, e Membership, Communication, M SSponsorship and Accounts. Critical here was the development of a h new CRM and CMS platform that n would for the first time interlink w the five ‘divisions’ of the Chamber. th TThis ‘back-end’ provides a more stable membership database st management tool, an event module that captures critical event data and a more intelligent communication tool and design platform.
org.sg has an updated online booking system. The system recognises members just by their email address, auto filling fields and no longer requiring members to login before booking. Built in is a fully operational online booking system, connecting the events module with the Chamber’s accounts and back to the membership data itself. This is then connected to the communication module, enabling us to collect data on event participation and providing a platform for targeted marketing.
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In September 2010 we conducted the first BritCham mission to Shanghai lead by our Patron High Commissioner Paul Madden.
As well as the SME tailored series we introduced other new initiatives such as: • The UKTI Briefing, providing insight in developments and opportunities in various Asian markets • New member welcome evenings • A sports dinner presenting celebrities and experts in areas such as Rugby, Cricket, Football • The YBCC, Young British Chamber of Commerce providing mentoring and social networking for the up and coming talents in our member’s teams
According to member feedback in the Membership Survey 2010, the main reason for joining the Chamber is networking with fellow British executives. Addressing this need we continued to grow the number of events, having conducted 65 events in 2010 compared to 52 in the previous year.
Brigitte Holtschneider Executive Director British Chamber of Commerce www.britcham.org.sg
Best wishes
Your Chamber team wishes you a Merry Christmas and a Healthy and Happy New Year 2011.
We would like to thank you for your loyalty, trust and support throughout the year. The Chamber development as outlined above and in the charts on the opposite page would not be possible without your input and feedback in the membership survey, your participation on Committees and Business Groups, your ideas and suggestions to continuously improve our offering.
You can find a detailed brief about the project on page 10 of this issue.
We launched a completely revamped and modernised website in October 2010 now providing: • a modern, dynamic look and feel • more user friendly site navigation and member login • online payment service
CHAMBER OF COMMERCE, PORE, REVIEWING THE YEAR
source: BritCham Membership Survey 2010 conducted by Kadence International
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Working s in Series
How Listening Closely To Customers Helped Microsoft Design, Develop & Launch Windows 7 – And Get Its Mojo Back ! Are Leaders Born or Made? Energy Commodity Pricing: Separating Facts from Conspiracy A non technical review of the pros and cons of ship layup The Sino-Singapore Tianjin Eco-city Developing your own Personal Balanced Scorecard for Executives Compliance Common Sense for Corporates Offshore Financial & Tax Planning in a Changing World Offshore Oil & Gas Services Protecting your Human Capital - Risk Management Today An Introduction to Commerical Marine Salvage Cut Your Marketing Budgets and Make Every Employee A Brand Champion What makes a Successful Entrepreneur? Nanotechnology Corporate Social Responsibility and the drivers for success Piracy in the Shipping Industry The Macondo Field Blowout Unlocking British Designs Navigating Organizational Politics UK Tax Disaster response Unravelling Disputes through Mediation Talent Mobility 2020: The next generation of international assignment Working Environments for the 21st Century The Changing Face of IT Integrated Marketing Communications in a Social Media Age
Media & Marketing
HR, Leadership Energy & Utilities
Andrew Pickup - Chief Marketing Officer - Microsoft Asia-Pacific
Andrew Chadwick - Principal, Chadwick International Michael Barnes - Springboard Research, Anol Bhattacharya - GetIT Pte Ltd Lisa Watson - Founder & Managing Director, Ibis Intelligence Services Pte Ltd
HR, Leadership ICT Media & Marketing
Mark Powell, Author and ex-British Army & SAS Huw Evans – Business Development Director, Twinza Oil Jonathan Sands, Chairman of Elmwood Peter Hamill - Senior Consultant, Roffey Park Institute Adrian Love, Director - Global Financial Consultants Pte Ltd Boots & Coots Loong Seng Onn, Executive Director of SMC Franca Ciambella, Lawyer, Mediator and Project Consultant to SMC Maureen Jeganathan Arm - PWC
Shipping Energy & Utilities Media & Marketing HR, Leadership Financial Services Energy & Utilities Legal HR, Leadership
Mike Balfour (OBE) the Founder of Fitness First Health Club’s and Founder and Chairman of The Hideaways Club Lerwen Liu - Managing Director, NanoGlobe Pte Ltd James Wright - Managing Director, CSR and Sustainability, Grayling
Entrepreneurship ICT CSR
Stephen Wood - Salvage Master, Titan Salvage Simone Vaz, Principal consultant - Pure Communications
Shipping Media & Marketing
John Westwood, Chairman of international energy analysts Douglas-Westwood Tony Ridley- Director of Security Services, Asia Pacific,International SOS
Energy & Utilities HR, Leadership
Andrew Martin – Principal, Baker & McKenzie.Wong & Leow Brendan Harper, Technical Services Manager - FriendsProvident International
Business Practices Financial Services
Mr Lim Meng Hui, General Manager of Economic Promotion Sino-Singapore Tianjin Eco-City Investment & Develop John Read, Chief Consultant - 3iQ Leadership
Country Briefing HR, Leadership
Richard Kemp, Co-Director - The Open University Jason Feer, Sr. Vice President / General Manager – Asia Pacific, Argus Media Limited Geoffrey Hutcheon, General Manager - Graig Services (Singapore) Pte Ltd
Shipping
Ian McKee, CEO - Vocanic Rob Stanley - Managing Director, KatalystM
Building a Social Media Strategy Media & Marketing Using the Power of Email to Build & Facilitate Media & Marketing Your Digital Community Marketing 3.0 – The age of personalized Media & Marketing marketing BritCham Economic Briefing Economy Positioning Singapore’s economy for the future Economy UK economy - moving from recession to recovery Economy Lord Mayor of London - The City today: Economy opportunities for Partnership From Battlefield to Boardroom HR, Leadership Focus India Country Briefing UK General Elections Economy Green Buildings : Ideology or Reality? CSR
David Reed - Senior Energy Advisor, Exxon Mobil Corporation Microsoft APAC IT Director Martin Rimmer - International Tax Manager, The Fry Group
The Outlook for Energy: A View to 2030 Thought Leadership Property Ownership – UK Tax Issues for the British Expatriate
Members Networking Night Global Gas & LNG Markets Overview - Good to Grow? Members Networking Night YBCC Business Challenge Members Networking Night YBCC Mentor Networking with Terry O’Connor nch
Top 10 Mistakes of Entrepreneurs Working Effectively with People Strategy and Decision Making Maximising Personal and Team Productivity and Effectiveness
Energy & Utilities ICT Financial Services
Social Energy & Utilities Social YBCC Social YBCC Entrepreneurship HR, Leadership Entrepreneurship Business Practices
Barry Adams - Regional Business Development Director, Acxiom Asia Mr. Roman Scott, Managing Director, Calamander Capital Dr Beh Swan Gin, Managing Director, Singapore Economic Development Board SIR Andrew Cahn KCMG, Chief Executive UK Trade & Investment (UKTI) Lord Mayor of London, Alderman Nick Anstee Sir Robert Fry, McKinney Rogers HRH The Prince Andrew, Duke of York, KG - UK Special Representative for International Trade and Investment Simon Thomas - UWCSEA Russell Cole - ARUP Dr Richie Lee - Cb Richard Ellis
Mr Doug Rotenberg - President, BP Global LNG Regional Vice President, Gas Asia/Middle East/Caspian
Marty Windle, Iain Robertson and Dave Bowman, IDG Singapore Terry O’Connor, OBE - CEO Courts Asia Pacific Barry Jones, Principal – Maroon Analytics Mark J. Stradling - Managing Director, Arcanum Asia Richard Ayres, Principal – Maroon Analytics Martin Severn – Director, Priority Management
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Advertisements in Bi Monthly Orient Magazine Copies of the Orient Magazine Tickets to BritCham Ball Tickets to British Business Awards Flights at the BritCham Annual Corporate Golf Tournament Large Individual company banner to be displayed at all Chamber functions (Platinum & Gold) Individual company banner to be displayed at all Chamber functions (Silver & Bronze) Logo recognition at all Chamber functions VIP status for Sponsor at all Chamber functions
Sponsorship benefits:
Following an initial review to determine the company’s aims and objectives, a package will be devised to complement the company’s future plans. The Chamber offers Platinum and Gold sponsorships along with Silver and Bronze packages, all of which are formulated from a combination of, but not exclusively, the following:
The Platinum, Gold, Silver and Bronze Chamber sponsorship packages are ongoing throughout the year and create a cumulative and increasing voice within the community. With over 60 events, weekly newsletters, 6 editions of Orient and the prestigious BritCham Business Awards Dinner and BritCham Ball every year, our packages offer your company the optimum balance of publicity and prestige.
Ball, CSR Seminar, the BritCham Business Awards, the BritCham Annual Corporate Golf Tournament, the Economic Briefing, the BritCham Breakfast Clubs, the Leaders in Business Lunch Series and the Evening With Legends sporting events. As always the Chamber is happy to discuss and tailor specific packages to meet individual corporate needs and interests.
MORE FROM THE CHAMBER
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ORIENT Magazine Readership of the Chamber’s Read flags flagship publication reaches well over 100 C-level Executives, 150 Presidents, 500 Exec Directors, over 400 Managing Dire Directors and many more Dir Middle Management Mi Professionals representing Pr over ov 500 Companies! This audience consists of Senior, au Executive and Middle Management M
OUR OFFER: • Print advertising in the chamber’s bi-monthly ORIENT magazine each issue reaching 2500 decision makers in Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam, Cambodia and the UK • Weekly exposure through the Chamber’s Monday E-Newsletter providing a continuous 52 weeks of exposure if you book for a year • Online presence through banner advertising at www.britcham.org.sg • Year-long exposure in the BritCham Membership Directory
The Chamber offers organisations the opportunity to increase visibility, enhance corporate image and promote services and brands through a variety of advertising and marketing channels.
he British Community in Singapore has continuously grown with the latest statistic revealing 27,000 British nationals living in Singapore. The Chamber network now comprises 1,200 individuals, having grown substantially since 2007, making the Chamber the voice of British Business in Singapore. This makes the British Chamber of Commerce a valuable tool for many corporate marketing and sales strategies from a wide variety of industries.
T
M d E-Newsletter Monday EN l & Website W b i The BritCham E-Newsletter goes out to its membership, prospects and partners every Monday. A combined emailing list of over 2,500 senior business executives from a wide range of industry sectors. The BritCham E-Newsletter highlights upcoming events organised by the British Chamber of Commerce as well as key business opportunities presented by partner organisation and fellow Chamber fe of Commerce. The Th primary and most frequent m
The Brit org.sg) advertisi different another BritCha a busin Britain. Orient is distributed to all corporate and individual members of the British Chamber of Commerce based in Singapore, the Asia Pacific region and the UK. It is also circulated to sponsors, partners and associated organisations in Singapore. Additional distribution to social & recreational clubs, fitness centres, retail outlets, restaurants & bars, hotels, Changi Airport and other organisations oriented to a business audience and expatriate living.
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Orient reaches out to British companies as well as leading Singaporean companies with prominent exposure in the British High Commission, British Council, British Association and British Club. There is additional reach to fellow British Chambers in Malaysia, Indonesia, Thailand, Vietnam and the Philippines.
CHAMBER OF COMMER
They join the ranks of other established Singapore investors into the UK such as Sembcorp, Keppel, ComfortDelGro, ST Engineering, DBS, OCBC and UOB.
C S Innovation [Healthcare] Journey Watch [Software] Qtech [Nanotechnology] Sentient Health [software] Singapore Airports Terminal Services/ Singapore Food Industries [Food & Drink] • Singapore Stock Exchange [Financial Services] • Spa Esprit Group / Ministry of Waxing [Health & Wellness] • The Think Environmental Company [Environmental]
• • • • •
grow at pril and up 12 another estment business at one ring and obvious advisory etaining
With political and economic stability, along with a well-established legal framework, the UK offers the best
Why Invest in the UK? The UK is a world-class location for international business, plugging companies directly into the heart of global finance, global creative and professional services, global media and global talent.
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Where to Set Up? Clusters have always been part of the UK’s industrial landscape: cotton-spinning in Yorkshire and Lancashire during the Industrial Revolution; ship-building in the North East; steel in Sheffield. Today, new clusters are springing up, reflecting the map of the UK’s modern industries and markets: from Silicon Fen in Cambridgeshire and the high tech hub of East London, to Motorsport Valley running down Central and Southern England, to Northwest Biomedical.
The UK is: • The sixth largest economy in the world and is second only to the US in attracting manufacturing foreign direct investment. • The European headquarters of over a third of all Fortune 500 firms. The No.1 world’s leading financial systems in the “Financial Development Index” • The world’s fifth largest trading nation and exports contribute 60% of UK productivity growth • A world leader in innovation ranking second only to the US for the quality of its research base.
market, world-class universities and research base and hi-tech, innovative business community.
GLOBAL GROWTH
The UK has a number of life sciences hubs. The East of England, which includes Cambridge, has the largest concentration of R&D engineers per capita in the country. Other key areas of activity include London and the South East, Scotland, and the North West. These areas include 74 per cent of the biotech and small pharma companies in the UK, employ 73 per cent of the people in the sector, and account for 87 per cent
These companies had an annual turnover of £4.2 billion (over S$8 billion) — which translates into 9 per cent of the global turnover and 30 per cent of the European turnover in the sector. The UK biotech and small pharma companies represented the biggest R&D pipeline in Europe, having 447 products in development, with around 250 of these in discovery or preclinical development.
Lifesciences: In 2009, there were 777 biotech, small pharma, and service companies in the UK developing or manufacturing biologics and small molecule drugs or supporting this sector.
tech companies in the area to rival the US’s Silicon Valley. Vodafone, Google, Facebook, Intel and McKinsey & Co were just some of the leading companies that pledged their support for the East London cluster along with leading universities. The vision was bolstered by the announcement of a new £15m UKTI taskforce aimed at recruiting the very best technology talent to the UK and help entrepreneurial UK startups to internationalise as well as a new entrepreneur’s visa to attract the brightest entrepreneurs from across the world to set up in the UK.
The University of Cambridge has one of the largest integrated engineering departments in Europe. It provides a unique environment for the creation of new ideas and approaches to modern industrial practice - from understanding markets and technologies, through product and process design to
Aerospace/engineering Cranfield University in the East of England brings together expertise in design, technology and management across aerospace, automotive, bioscience, energy, environment and security and defence. Cranfield attracts the highest funding for collaboration research and consultancy per academic across the region. Cranfield Technology Park supports more than 50 businesses taking advantage of the latest research and is home to the Nissan Technology Centre.
But much of the UK’s chemicals activity is in the North West and Yorkshire with over 450 chemical companies in the region. Expertise in the here is diverse with the chemical industry making products for everything from paper production and plastics to cosmetics and agricultural products.
Chemicals The UK has over 1,300 specialty chemical companies widely spread across the country, including in the Midlands, around Nottingham, Loughborough and Birmingham, in the South and South West near Southampton and Bristol, and in South Wales.
Creative Industries / Digital In 2009, there were nearly 5,000 film production companies and 2,500 postproduction companies in the UK. There were 420 film distributors and 225 exhibitors. Most of these companies were concentrated in London and the South East.
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Will this currency opportunity last? The answer is probably No.
As a result, international buyers in 2009 and 2010 have accounted for 60% of the ‘prime’ central London market, up from the longer-term norm of 50% in the preceding five years. Overseas buyers have been particularly active in the West End, the City of London, Canary Wharf and Docklands.
But there is an additional opportunity – perhaps a short-term one – which makes investment in London even more attractive. This is the favourable exchange rate.
Sterling has fallen about 25% against most major international currencies since mid-2007, and has seen even larger
falls against selected currencies such as the Singapore dollar. The result is that, even before the UK’s short-term housing market problems are taken into account, London homes are much cheaper than three years ago.
House prices are currently near their floor and set to rise extensively in the next few years; it also shows the remarkable returns in the London rental market now, and why these are likely to continue for the foreseeable future.
hra, Managing Director, Benham and Reeves Residential Lettings, London
FOR POTENTIAL INVESTORS The leading business consultancy Oxford Economics forecasts that Britain will return to peak (pre-credit crunch) output levels by the end of 2012 and the British economy will grow by 8.2% between 2011 and the end of 2013. Relatively high entry prices for individual properties should not be regarded as a barrier to investment; we have experience of landlords buying keenly-
cost, in time to capture the benefits of growth.
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While policymakers from across the globe are worrying about how to help stimulate domestic consumption in these surplus countries, we believe that the process will happen at its own
Strong external balance sheet to unleash consumption Asia’s external balance sheet is the envy of the developed world, with the average net international investment position at roughly 50% of GDP. Having produced more than they have consumed for 10 years, we believe it is high time that Asia starts to run down its excess savings. We see private consumption growth averaging 5.6% per annum over the coming decade, contributing an average 3.1 percentage points to real GDP. As a share of the overall economy, private consumption should rise from the current rate of 55.4% to 58.0% by 2020.
and Vietnam to financial services growth in Singapore and Hong Kong - to accelerate. To the extent that this externally-orientated investment reflected wage arbitrage, this type of capital formation is likely to suffer at the margin as Asian wealth grows and wage rates rise – particularly in the face of weaker external demand growth. This will require Asian economies to move up the value chain as well as shift their focus away from exports and towards the domestic consumer. Our view is that in the near term, this transition from export-led to domestic demand-led growth will be more problematic than
pace. To be sure, higher social security spending in the likes of China would have a positive impact in the near term, as would allowing currencies to strengthen. Nonetheless, BMI believes
“Asia will continue to motor along nicely, seeing real GDP growth averaging 5.3% per annum over the next decade”
Asian economic activity over the past decade has also been driven by investment from multinationals seeking to cater to the global export market. This has undoubtedly allowed real GDP growth across the region from manufacturing growth in China
less imports) now account for 50% of GDP, even stripping out the city-states of Singapore and Hong Kong. Going forward, the boom in intra-Asian trade should continue to support the regional export industry, and we see total exports’ share of GDP remaining broadly stable. In terms of GDP growth accounting, however, much faster growth in inbound shipments should see net exports’ contribution to growth turn negative from 2011 onwards. Weaker external demand, particularly in the US and Europe, will be a major driver behind this trend reversal.
ia Country Risk and Financial Markets at Business Monitor International
ER THE CONSUMER
Economic freedom will be key to investment One area in which Asia has excelled, and will continue to do so, is in trade freedom, with the removal of tariff and non-tariff barriers following the 1997 crisis setting the stage for Asia’s export dominance. Improved intra-Asian trade relations should allow a wealth of efficiency gains to be unlocked through intra-Asian trade over the coming years. We see encouraging signs of deepening intra-regional trade ties, and the ASEAN has been playing an increasingly important role as a hub for further regional FTAs. Going forward, so long as governments can continue to provide the frameworks to support private sector profit opportunities, we see no reason why Asia cannot make a full transition towards strong domesticdemand led growth.
The outlook for consumption growth, meanwhile, is less clear cut, and will depend on the ability of producers to capitalise on strong personal savings rates and to redirect production away from export goods and towards local consumer goods. To be sure, the high personal savings rates seen across Asia will provide a supportive backdrop for investment, but what will be crucial going forward will be the extent to which Asian economies can continue to provide profitable opportunities for investors. From our perspective, this will depend largely on improvements in economic freedom and business environments across the region.
Another major obstacle to investment is the incidence of corruption. While an impediment to investment across the board (with the exception of Hong
Financial nancial sector liberalisation would also be a major determinant of growth potential in these countries going forward, and we expect to see further positive steps taken on banking sector privatisation and financial account liberalisation across the board, which should greatly improve the allocation of capital. Progress on property rights, particularly in Vietnam and China, will also be essential, and governments will need to work hard to ensure investors that the rule of law will protect their investments.
continue implementing policies to attract foreign investment. Looking at China, the Communist Party will need to ensure a level playing field is created for local and foreign investors and improve intellectual property rights in order to allow it to move up the value chain, and recent businessfriendly legislative changes regarding ‘indigenous innovation’ are a step in the right direction. India’s government is aware that it needs to overcome its burdensome bureaucracy, which would allow foreign investment to flourish, particularly in the infrastructure space. The same holds true for Vietnam, where we expect to see a removal of regulatory barriers to unleash an FDI boom over the coming decade.
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It should be noted that while not all businesses within ITPB are leaders in their respective fields, the combined economic thrust created by the concentrated cluster of businesses attracts investment, creates jobs and allows the park as a whole to influence
International Tech Park Bangalore (ITPB) is an outstanding example of Ascendas’ contribution to India’s IT industry. Its success has transformed Whitefield community into an economic magnet around which the distinguished campuses of global MNCs flourish.
Today, it is a vibrant city with more than 145 multinational and Indian IT/ ITES organizations and over 24,000 employees. Located just 18 kilometres from the city centre, ITPB boasts features such as a 5-star business hotel, a multilevel car park, an upcoming retail mall of about 450,000 sf, an extensive range of lifestyle amenities and services, landscaped gardens and an activityled event calendar to ensure tenant participation and networking.
This trend is likely to continue in the coming years. With increasing
Green business space The advent of environmental consciousness has made it an imperative for companies across the world to adopt environmentally-sustainable mindsets, and continues to be fuelled by scrutiny from important stakeholder groups such as employees and shareholders. Tenants are increasingly concerned about energy consumption, its high costs and the impact on the environment, and landlords are seeing increased value for LEED-certified buildings over conventional buildings.
and invest in urban development. The benefits to ITPB’s surrounding community are numerous, ranging from job creation such as the employment of support workers such as housekeepers and cleaners, to increased foreign direct investment including a retail mall with shops, cinemas and food and beverage outlets to serve the entire area.
“The concept of green buildings and operations is moving from a marketing feature to a basic requirement”
Started in 1998, the International Tech Park Bangalore (ITPB) is India’s first hitech park of its kind designed to provide a complete ‘work & play’ environment for IT and technology-related businesses such as Biotechnology & Bioinformatics, Telecommunication, Research & Development and technology-related businesses.
park often work alongside universities, on collaborations that can be private or public sector and are hi-tech or sciencerelated, fuelling thought leadership and innovation.
In Singapore, Changi Business Park is home to high-tech businesses and knowledge-intensive industries,
Beyond buildings, Dalian Ascendas IT Park in Dalian City, China, with its vibrant mix of retail, entertainment, recreational/ spa, F&B, convention/ exhibition spaces and a cultural event plaza, has set a new standard for business parks in China. It is a global talent hub for knowledge professionals in the IT, BPO and R&D sectors to work, live and play within a socially integrated community. Dalian has been ranked as a top No. 5 BPO city and its geographical advantages, superior infrastructure, highly-skilled workforce, are key to attracting leading Japanese, Korean and other international corporations to set up their operations there. Today, more than 3,000 enterprises, of which 57 are Fortune 500 companies are situated along the 30-kilometer long South Lv Shun Road Software Industrial Belt.
Icon located at International Business Park in Singapore was highly commended in CityScape’s Asia Real Estate Awards 2008 for its unique architecture and environmentally friendly estate planning. The Green Mark Gold Plus certified building features a distinctive façade, with sky gardens and a naturally ventilated high-ceiling podium with lush landscaping and water features, as well as be energy efficient and incorporate extensive green features.
operations is moving from a marketing feature to a basic requirement.
Real estate financing solutions Companies have come a long way and learned from their experiences of
edge design and bold architectural features set the scene for inspiration and excellence, while wrap around sky gardens at alternative floors offer space for rejuvenation. Beyond the external facade, business space at Changi City have the largest column-free floor plates of its kind in Singapore, with the latest technology built into the infrastructure offering 24/7 wireless connectivity anywhere within the park. Energy and water efficient design comply with the standards of the Singapore Building and Construction Authority’s Gold Plus Green Mark certification. Currently under construction, Changi City is an iconic development which promises to set the standard for business parks of its kind in the future.
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Domicile So what is domicile? At its simplest, the closest concept is one of “homeland” although assessing your domicile will require a detailed examination of your background circumstances. At birth you acquire a domicile of origin from your father, or if at the date of your birth your father has died/you were born out of wedlock, from your mother.
A domicile of origin is very hard to displace and if after establishing a domicile of choice in one state you move to another, your domicile of origin will revive and stay in place until you have gone through the process of establishing a fresh domicile of choice.
have severed all connections with your “homeland” and established permanent ties in your chosen state.
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Similarly, a foreign national entering the UK would be deemed to be domiciled here, after being resident for tax purposes in the UK for more than 16 out of the previous 20 tax years. If, therefore, your domicile is about to change, this is a significant point in your IHT planning. It is not safe, despite the frequent references to the “17 out of 20” rule, to act in the17th year.
It is also important to remember that upon emigrating from the UK an individual would be deemed to remain domiciled in the UK for three tax years after departure irrespective of their actions and intentions.
rtPFS AWPCM General Manager Singapore, International Division
Attitudes to IHT vary. Some of us feel that, having given the children a good start in life, the priority is to retain all the remaining assets; if IHT is paid when one dies, so what? Others see little point in saving Income Tax and Capital Gains Tax during their lifetime, if the net result is to increase the assets subject to 40% IHT
The Tax Burden A potential charge to tax arises when an individual gifts away assets, often on death but also during their lifetime.
transferring assets from a UK domiciled spouse/registered civil partner to a foreign domiciled spouse/registered civil partner or vice-versa.
So having identified who is liable to Inheritance Tax and at what rate we must now look at how we can plan to minimise or eliminate any tax bill.
Example : Estate of £1m with no IHT planning On the first £325,000 Nil On the next £675,000 £270,000
Most homeowners are automatically inside the IHT net even before taking into account the value of their investments. For an unmarried individual with a valuable property and/or substantial investments, the burden is obviously considerable:-
Inheritance Tax Rate (w.e.f. 6.4.09) On the first £325,000 Nil On the excess over £325,000 40%
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Despite the McKinsey finding that 48% of Asian respondents to their survey felt that blogs were an important communications tool, only 12% of top companies maintain a publicly accessible blog (the study was not able to determine whether blogs and other social media channels were used for internal communication). Furthermore, only 18% of companies link their social media presence to their corporate web presence.
surveyed are using branded social media channels and 25% utilize only a single social channel. Of those companies that have a branded presence, 55% of social media profiles are inactive – defined as showing no activity at all in the month prior to the site review.
A similar survey carried out at the beginning of 2010 based on the Fortune Global 100 list showed that the great majority (79%) of top multinational companies have either implemented dedicated social media strategies or
consumer promotions or social media presences for product brands. The list of companies was taken from the Wall Street Journal Asia 200 Index and focused on the top ten listed companies in each country, specifically their use of social networks, corporate blogs, microblogs and video sharing channels for global and domestic corporate marketing and communications.
These data point to a corporate culture within Asia’s leading companies that is largely apprehensive about online social engagement. Many Asian companies remain largely hierarchical and it would certainly appear that concerns over a loss of control in terms of messaging, timing and content inhibit the ability of large Asian multinationals to engage through these channels. It is also worth pointing out that the skill sets and expertise in social media channels often reside in younger, more junior employees, who are perhaps neither culturally nor socially positioned to counsel more senior executives.
“73% of China’s 420 million-strong Internet community uses social media at least occasionally”
That is the standout finding of the Burson-Marsteller Asia-Pacific Social Media Study which was carried out earlier this year across 12 countries in the region. The review focussed specifically on the use of social media by the corporate brand and excluded
All of which begs the question: “Why do 60% of Asia’s largest companies have no discernable corporate social media presence?”
national community on Facebook is Indonesia. A 2010 Accenture study claims that 73% of China’s 420 millionstrong Internet community uses social media at least occasionally. In Korea Internet users spend an average 13 hours a week online, only 3.5 hours less time than they spend watching TV.
Bowen, Managing Director, Marketing, Burson-Marsteller Asia Pacific
BY ASIAN CORPORATIONS
For all companies operating in Asia regardless of the country they call home, there is a great opportunity inherent in these findings. Social media is demonstrably not a fad – it is a mainstream activity in which many
Where large Asian companies do use social media there is a tendency to focus on one-way communication around traditionally ‘safe’ topics such as CSR and philanthropic activities, projecting a softer corporate image but invoking neither the negative commentary that companies fear nor the genuine interaction that stakeholders increasingly desire and demand.
tendency to focus social media outreach on short-term campaigns rather than incorporating it into a sustained digital strategy. Companies more focused on building their corporate reputation over the long-term are much less likely to set up and then abandon their social media channels.
Approaching social media in Asia,
Only 8% of leading companies in Asia have set up dedicated channels on top video sharing channels such as YouTube, Youku in China or Nico Nico Douga in Japan. This compares to 50% of global companies using such channels. Yet the high volume of user views of existing branded video sharing channels suggests that companies are missing a significant opportunity to engage users by not providing structured access to online video and multimedia. Japanese Internet users spent nearly 17 hours a month watching videos, while their counterparts in Hong Kong and Singapore recorded 12.7 hours and 10.4 hours respectively
Most importantly, companies need to look more closely at digital storytelling using video and multimedia channels.
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Social media provides an opportunity for companies to communicate and build relationships directly with their stakeholders, gain a deeper understanding of their needs and behaviours, and to increase levels of awareness, trust and advocacy.
Asians are enthusiastic users of social networks, whether of international platforms such as Facebook or local services such as Renren in China, Orkut in India or South Korea’s CyWorld. Microblogging rates are exploding, not least in Japan, Indonesia and South Korea, where Twitter is recording some of its heaviest user volumes worldwide. Asians are not just passive consumers of web-based content but are active contributors. Chinese Internet users rank among the most active creators of online social content, far outstripping most western markets.
Cascade Learnings While often the best way to develop capabilities in any area is through the implementation of communications programmes, also consider how best to develop a system for sharing social media knowledge and learnings within and across your communications teams, and ensuring these stay top of mind.
Communicate Employee Roles and Responsibilities It is very easy, and tempting, for employees to share their own views and experiences on company-related issues on the internet. It is vital that your people are aware of the evolving legal framework (in some countries) governing disclosure to bloggers, their professional and personal responsibilities and the broad principles of communicating online.
officials confidently assert the “Brazilian way.” They all want globalisation, not America, to be their patron. They may all have big internal weaknesses, but they are all players in the new geopolitical marketplace in which Europe and China offer packages of aid, trade and military assistance at least as attractive
The second world is shaking up the western order most visibly in economic bodies like the World Bank, IMF and WTO. Voting rights on the IMF’s board are shifting, while each year brings new demands that neither the IMF nor World Bank leadership should automatically be chosen by Washington, London or Paris. Both institutions are now just aid and advisory bodies for Africa, since Asian nations have paid off their debts—and are launching their own Asian Monetary Fund—while Brazil and Argentina, previously the IMF’s two largest debtors, have accelerated their payments of arrears (Argentina with the help of Hugo
wealth funds and other regional swing states from Brazil to Malaysia. In many ways these “emerging markets” have already emerged; they receive most of the world’s foreign direct investment, hold a majority of its currency reserves, and are rapidly growing consumer markets whose preferences western producers cannot ignore.
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There is a vast second world intermediate layer between the first-world core and third-world periphery. In his recent National Interest essay “World Without the West,” Steven Weber pointed to
as the American one. Why align with any one patron when you can play off all sides to get what you want? India’s trade with China is booming, while it gets many of its weapons from Russia and pursues a nuclear deal with the US. Non-alignment is passé; this is the age of multi-alignment.
Chávez’s $2.5bn) and have washed their hands of the Washington consensus. In the WTO, it is increasingly clear who has to make the concessions to move the Doha round forward: the West.
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America’s Monroe doctrine—that Latin America is in the US’s exclusive sphere of influence—prompting a quiet visit of US officials to Beijing to warn about not undermining democracy in the region. Meanwhile, China has extended a $50bn line of credit to Nigeria, more than the entire annual western foreign aid budget. The shift of leverage away from the US is also noticeable in Saudi Arabia, where American bases are being vacated and the royal regime’s investments are being distributed more equally to American, European and Chinese recipients.
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The second world is reshaping the world, but it does not control it. What can be felt just as powerfully is the relative decline of the US and the increasing assertiveness of both the EU and China. It may not be a multi-polar world -certainly not militarily -- but these three represent distinct imperial systems whose gravity is pulling on the second
European technology and managerial skill has met the manpower coming from third-world Asia to create a 21stcentury Manhattan on the Persian Gulf.
The cold war, and its aftermath, was a geographical anomaly: America was able to run the world from the other side of it. But it is the rising Europe and China which sit on opposite ends of Eurasia, their influence expanding towards each other to meet in the middle around the Caspian Sea. This is why Russia is the second world’s ultimate swing state. But Russia knows that in the long term its rhetoric of strategic partnership with China cannot hold, for China is exploiting the timber and mineral resources of the
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“The second world is becoming a selfbootstrapping anti-imperial belt”
Meanwhile, a new Arabism is emerging. It is fuelled by Gulf oil revenues being reinvested within the region rather than in London or Geneva, building hotels and housing, creating jobs, launching media such as Al-Jazeera and Al-Arabiya, and even tacitly teaming up with Islamist movements to inspire an overall rejection of western meddling in Arab politics. You feel this energy most powerfully in Dubai, the new capital of Arab civilisation. Here, first-world
Russia sometimes called the “NATO of the east.” It sets the terms of trade, business standards and counterterrorism and narcotics policies for all of central Asia. Iran, Afghanistan and Pakistan are soon to become members. At the SCO’s most recent summit in Kyrgyzstan, Russia and others called for an international conference to discuss options for stabilizing Afghanistan—implying that NATO had failed. A Chinese-led “provisional reconstruction team” is being planned for Afghanistan; China has acquired rights to develop what could be the world’s largest copper mine in Logar province, where it will also build electric power plants and a railway.
alliances with Australia, Japan, Korea and Thailand, but that is now giving way to Asian regional institutions ranging from the Association of Southeast Asian Nations (ASEAN) to the annual East
urishing ssia has s for Iran Malaysia to link
It is time to stop pretending that the US will stay on top until a clear rival emerges to directly challenge its pre-eminence. Look at its recent foreign policy record:
China may be the imperial system which towers over the region as America does in its hemisphere and the EU in the euro zone, but remember that in second-world zones everyone is playing all sides at once. First-world Japan maintains a close alliance with the US and could rearm rapidly, while third world India is drawing America ever closer as well through naval assistance, arms purchases and a nuclear deal. Malaysia and Thailand continue to conduct joint military exercises with the US, but also buy ever more weapons from China. Geopolitical theories would predict that in such a period of flux, and in such a region where the declining hegemon (America) and rising contender (China) experience a power transition, conflict is inevitable. We will soon find out whether the theory is correct.
changes
and the spreads Nanjing ity and hin itself shington e power
Asian summit -- to which America is not invited. China will lead this new Asian hemispheric order, which ties together all countries falling in the India-JapanAustralia triangle, with China sitting at the centre. Trade within this greater Asian zone has surpassed trade across the Pacific. The region’s impressive network of global cities -- Tokyo, Taipei, Singapore, Seoul -- increasingly serve
failure in Iraq and Afghanistan, failure to eradicate al Qaeda or to create peace in Palestine, failure to advance global trade talks or to reconcile with Latin America—the list goes on. The present caution on interventions and democratisation is motivated not by sudden enlightenment, but by the shock of failure. America is waking up to soft power and public diplomacy because
t is time to stop pretending that the US will on top until a clear rival emerges to directly challenge its pre-eminence”
America once dominated the Pacific through a “hub-and-spoke” model of
d world ing anti-
The state department is broken to an extent that outsiders fail to appreciate. And nobody seems to know how to restore American prestige. One would expect hard-headed guidance based on experience, observation and connections, yet instead one hears -from ex-administration officials from the Clinton or Bush eras -- the platitudes of
detached utopians. Grand acronyms for new multilateral institutions are proposed -- ignoring the fact that even Security Council reform has not budged in over a decade. Massive civilian reserve corps are plotted -- while congress cuts the diplomatic budget by 10 per cent. These are proposals suited either to a world that no longer exists, or a country
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Now OSEA - and the Asia TV Forum - are over, UKTI Singapore is looking ahead to the new year, and preparing for what lies ahead. The new Minister for Trade, Stephen Green, currently Chairman of HSBC, will start in early January and we
n subsea pipeline engineering and in project management worldwide. A very wide range of pipeline products and components are manufactured in the UK. At the higher technology end of the sector, Wellstream are a leading manufacturer of high-pressure, nonbonded flexible pipe and riser systems for subsea service. For more information on UK Energy, please see www. ukenergyexcellence.com
Best wishes for 2011
The UKTI team and I would like to take the opportunity to wish you all a very Merry Christmas.
demonstrate just how we aim to refocus our resources and work with partners inside and out of Government to help exporting companies and secure inward investment. While UKTI globally is playing its part in reducing the UK deficit, the UK Government has highlighted trade and investment will play a central part in future growth, and UKTI has a key role to play in helping British businesses trade abroad, and helping international businesses invest into the UK. UKTI will continue to operate in our main markets around the world that account for more than 90 per cent of global GDP.
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many technology companies are simply re-branding products and services as cloud, a phenomenon Neil Sutton, vice president, Portfolio, BT Global Services, described as ‘cloud washing.’
“Large organisations want to realise the benefits of cloud computing – such as flexibility, more reliable services, reduced financial risk, and lower costs – but they first need to get beyond the confusion surrounding cloud terminology, focus on deliverable business results and look at what they have to do to make cloud solutions work for them,” said Sutton. www.bt.com
The new terminal houses a Hybrid Mail Centre, which forms the core of DHL
in Hong Kong. The new and expanded facility handles twice the volume of the former one, measuring more than 30,000 sq ft and is located in Tsuen Wan, a strategic area for logistics and commerce due to its close proximity to the Hong Kong International Airport. This expansion plays a critical role in the growth of DHL Global Mail’s business in North Asia, including China.
up their hiring activity,” says Chris Mead, General Manager of Hays in Singapore. “Activity in many sectors is now back to the levels we saw just prior to the global financial
T TIGHT JOBS MARKET
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that reduced headcount during the GFC are now growing their teams to take advantage of business conditions. Even at the support level employers are recruiting to fill skills gaps.”
Global Mail’s Hybrid Solutions. At this off-site Hybrid Mail Centre, customers can enjoy services such as fulfillment and distribution management, imaging and hosting, and records management, at their convenience. By converting physical documents into meaningful digital data that can be customized according to business requirements and integrated into an organization’s workflow, Hybrid Solutions transforms the way documents are managed and offers unprecedented cost and time savings. www.dhl-globalmail.com
AIL EXPANDS ERMINAL AND OPENS NEW CENTRE IN HONG KONG
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With a high-rev V10 5.2L FSI® engine that delivers a top speed of 313km/h and acceleration from 0-100 in 4.1 seconds, the Audi R8 Spyder is an unstoppable supercar that challenges every road ahead. Its Vorsp spirit is matched only by its progressive drivers, who constantly challenge convention. In addition to it
Our apologies to all drivers.
The new Audi R
alignment of the Bank’s Cash and Trade Product Management, further strengthening the RBS GTS franchise in Asia and will be pivotal in helping to grow the business across the region. RBS GTS spans across ten countries in Asia
Commenting on the appointment, Alan Goodyear, Head of GTS Asia Pacific, said: “We have created this new, senior role in response to greater demand for more seamless product solutions and greater risk management. This shift in our clients’ needs will be reflected in our product roll out for 2011, which Anand will be responsible for.” Mr. Pande will report to Alan Goodyear. www.rbs.com
and is supported by a strong team of over 300 bankers.
Under Ajay’s leadership, Consumer Banking revenue in Singapore has more than doubled in the last five years. Given the fast growth of the Southeast Asian region, Ajay will now focus on the overall strategic development and governance for Consumer Banking in the Southeast Asian markets, including Malaysia, Indonesia, Thailand, Vietnam, Brunei, the
Regional Head of Consumer Banking for Southeast Asia.
Prior to this appointment, Dennis was the General Manager, Retail Banking Products for Singapore and Malaysia. In his almost 10 years with Standard Chartered, Dennis has taken up key roles as the Head of e-commerce, Business Intelligence, Strategy and Marketing Services, as well as General Manager for Wealth Management in Singapore. www.standardchartered.com.sg
Philippines and Singapore.
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“At StarHub, we are proud to partner with PA to bring KaraOK! K-Battle into the heartlands. We want our communities to be active even in their golden years and building stronger ties with their families and what better way to do it than to participate in this
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NITIES FOR UK IN PHILIPPINES Date: Tuesday 26th October 2010 Venue: Casuarina Room, Shangri-La Hotel Presenter: Trevor Lewis, Director of Trade & Investment, UKTI Kuala Lumpur
FOR UK COMPANIES IN MALAYSIA
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Date: Thursday 11th November 2010 Venue: Casuarina Room, Shangri-La Hotel Presenter: David Reed, Senior Energy Advisor, Exxon Mobil Corporation
THE OUTLOOK FOR ENERGY: A VIEW TO 2030
Date: Tuesday 9th November 2010 Venue: Raffles Room, The Tanglin Club Presenter: Lisa Watson, Founder & Managing Director / Chairman, Ibis Intelligence Services Pte Ltd
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October. Almost 40% of users come to AngloINFO Singapore direct and the rest through various search engines and links. AngloINFO will be increasing their rate card for the first time in 4 years as of January 1st 2011, however any British Chamber member advertising with AngloINFO qualifies for 5% off the new prices in addition to the various incentive discounts for prepayments.
http://singapore.angloinfo.com
The series will look at the impact of a variety of inventions, from concrete to antibiotics, via the microscope,
other content, looking at some of the great milestones of invention that have changed the way mankind lives today. Called Ideas that Changed the World, the series will be sponsored by Standard Chartered.
the jet engine and photography. The programmes will be presented by experts in the fields of aviation, architecture, communication, food, medical science, trade and economy and will include London 2012 Olympic architect Zaha Hadid, celebrated psychologist and author of Awakenings and Musicophilia, Oliver Sacks, and Virgin Galactic president, Will Whitehorn. www.bbc.com
C&W Worldwide will be migrating
The agreement will see C&W Worldwide connect MphasiS global sites in India, China, the United Kingdom and the Unites States of America by building and managing a highly secure, resilient and agile global network.
ngapore-
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Network (WAN) - which was also provided by C&W Worldwide - to multiprotocol-label-switching (MPLS); a communications platform that will future-proof their business for anticipated expansion plans in other countries including Poland, Philippines and Sri Lanka. www.cw.com
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onrad Centennial Singapore welcomes the year-end festivities with more sensational feasting and revelries, including delicious Thanksgiving lunch buffets and Advent afternoon tea menus.
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Join in the spectacular New Year’s Eve countdown par at the Grand Lobby, with choice of dinner options a live band entertainment performing till the wee ho of the morning. www.conradhotels.com
array of succulent roasts and festive takeaways complete a memorable home celebration.
FESTIVE INDULGENCES CONRAD CENTENNIAL SINGAPORE
Since 2001, Chicago Booth has been featured in MBA and EMBA rankings from
he Economist published its annual ranking of the world’s best full-time MBA programs in September. Among the MBA programs, Chicago Booth is ranked 1st.
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CHICAGO BOOTH RANKED 1ST IN ANNUAL RANKING OF WORLD’S BEST FULLTIME MBA PROGRAMS
Among the winners were Wee Keong Soh, an Analyst at Morgan Stanley, who received three prizes. They were for the Overall International Investment Administration Qualification (IAQ),
en top performers in Singapore in CISI exams have been recognised for their achievement and were honoured at the third annual awards ceremony held by the Chartered Institute for Securities & Investment (CISI) in Singapore.
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SERVICES EXAM AWARDS
According to KPMG International’s 2010 Global Corporate and Indirect Tax Survey, the average global corporate tax has dropped slightly from 25.44 percent in 2009 to 24.99 percent in 2010. Meanwhile, the average indirect tax rate rose slightly from 15.41 percent in 2009 to 15.61 percent in 2010. www.kpmg.com.sg
dark chocolate, Griottine cherry macerated in brandy and chocolate biscuit with nougatine bits; “Framboises Buche Noel”, a divine blend of raspberry, jivara milk chocolate supreme, raspberry crameux, joconde chocolate biscuit, cocoa nibs, macadamia and dried raspberry powder; and “Provence Buche Noel”, a winterinspired combination of fromage blanc and Tahitian mousse, crème brulee centre and pain de genes atop a crumble-crust. www.mandarinoriental.com
The annual HotelClub Awards honour hospitality excellence in a wide variety of categories, from boutique hotels to
Luxury Award and Most Outstanding Value Award in Singapore for 2010. Marina Mandarin Singapore is also a finalist in the Outstanding Service Award.
s is high employers
beach resorts, and shoestring budget hotels to upscale luxury properties. Compiled and judged by HotelClub’s knowledgeable staff out in the field as well feedback from over 100,000 guest reviews, the awards highlight hotels that consistently strive for and deliver excellent standards. www.meritus-hotels.com
“In the first half of 2010 we saw aggressive hiring activity in Singapore, with most companies focusing
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inners of the RBS Coutts/ Financial Times Women in Asia Awards 2010 were officially announced at an award ceremony held at Eden Hall, the official residence of the British High Commissioner in Singapore yesterday. The winners were selected from the field of nominees for their achievements in business, public and non-profit fields.
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RBS COUTTS AND THE FINANCIAL TIMES ANNOUNCE WINNERS OF THE WOMEN IN ASIA AWARDS 2010
Rose (Asia) LLP is working together with students on secondment from the University of Bath, in the UK, to Singapore Management University (SMU). The undergraduates are in the final year of their studies towards BSc Business Administration. The team is working to plan and implement a campaign to support the business development of
The win Year, Wo and Risi Managin Publishi Director, Senior T Tax, PwC www.rbs
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Some key findings include the increase of advertising by 72.3% compared with the same period in 2009; increase in job advertising by 12.7% region wide compared with Q2 2010; and Japan and China seeing the largest increase in job advertisements compared to Q3 2009 (+108.1% and +74.6% respectively). www.robertwalters.com
The success of this project is due to many generous donations, time and effort from volunteers and sponsorships from organisations and individuals. www.sirmove.com
Hope for Cambodian Children (NHCC), Norwegian Association for Private Initiative in Cambodia (NAPIC), Sunrise Children’s Village, and Mary Knoll.
Meanwhile, the Institute will continue to run short courses in Singapore including the very popular “art collection strategies for investment”. www.sothebysinstitute.com
Sotheby’s Institute of art will be conducting a series of talks in Hong Kong throughout 2011 to support this worthy cause.
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IR Move Services together with Ni-Night has completed another demanding project in 2010 which saw 5 containers being sent to Phnom Penh and more waiting for the next shipment. This follows a successful donation drive that was initiated in 2009 where 3 containers were sent to Cambodia.
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he Singapore office of Watson, Farley & Williams LLP is set to relocate its office in a move that will significantly expand the firm’s presence in the city.
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On 1st November 2010, WFW will relocate to 6 Battery Road, #28-00, Singapore 049909. Email addresses and phone/fax numbers will remain unchanged.
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This acquisition further builds Logicalis’ presence in contact centre expertise. The business will be inte operation, NetstarLogicalis, with immediate effect.
focusing in the areas of UC and customer contact ce multinational corporations.
WATSON, FARLEY & WILLIAMS LLP TO RAMP UP ITS SINGAPORE PRESENCE WITH MOVE TO NEW OFFICE
ogicalis Group, the international IT and Communications services provider, has acquired the business of Touchbase Singapore from Touchbase Group. Touchbase Singapore is a unified communications (UC) solutions provider
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Jeremy Sheldon: I once gave a reading from my collection of short stories, The Comfort Zone, at the Cheltenham Literary Festival. Earlier in the day, I happened to walk past the main auditorium as it was being prepared for an event featuring the best-selling crime writer, Ian Rankin. My own experience as a working writer has seen me spend much more time in university classrooms than on stages, so it was sobering (and envy-inducing) to observe the hundreds upon hundreds of gleaming, empty chairs lined up in
in January 2011. Here, he shares his experiences of working with the British Council and his recent trip to Singapore.
passionate readers and writers when the British Council in partnership with the National Arts Council launched Writing the City at the Arts House in Singapore. Writing the City is a unique and exciting project aimed at promoting creative writing as a way for people to share their understanding of themselves, their culture and the urban spaces around them in pursuit of artistically and communally enriching experiences. The launch event took the form of a panel discussion amongst myself and six established Singaporean writers (Daren Shiau, Alfian bin Sa’at, Ng Yi-Sheng, Eleanor Wong, Madeleine Lee and Suchen Christine Lim) with questions being added from the floor,
MOTE & ENCOURAGE EATIVE WRITING
What I could have said of course was that the Singaporean writing I’ve encountered has produced a variety of pleasures and a variety of strong emotional responses. I understand that Aflian bin Sa’at has been described in the past as the enfant terrible of Singaporean writing. My experience of his writing, especially a short story called “Second Take”, has seen me introduced to characters who are thoughtfully and patiently evoked, to characters who are
Unfortunately for me as I sat there in the Arts House, this kind of modulated answer always looks like a “cop out”.
forum. But the irreverent, intelligent wisdom of my colleagues certainly made the job of gaining the audience’s attention easier, that is until the dreaded moment came. After about thirty minutes of lively discussion, a lady rose in the back row and politely directed her question at me specifically: “As a UK writer, what did I think of Singaporean literature?” A hush descended. Would I be fawningly diplomatic? Would I be critical? This was a harder question to answer that it might first appear as it carried the implicit expectation of judgment. As for my answer? Well, I believe strongly that although the literary community seeks at times to exalt certain works and certain individual writers (by way of prizes, for instance), literary pleasure is largely a private and idiosyncratic phenomenon, and valuable for being so.
If I’m to answer the question “What do I think about Singaporean writers?” my answer would be: “They’re pretty much the same as British writers.” It seems that it doesn’t matter if one is leading a workshop for the Arvon Foundation at Ted Hughes’ house in Yorkshire or in a community centre in Tiong Bahru:
My answer, however, took a different turn. I wanted not so much to talk about “Singaporean Literature” as if it was some homogenous mass of pre-determined concepts but about Singaporean writers...and not the published and performed contemporaries sitting on the stage with me and their ilk, but the seventy or so writers with whom I’ve worked in Singapore over three different visits. These workshops have taken place under the auspices of, variously, the Ministry of Education, the CAP and MAP writing programmes, and other British Council initiatives and partnerships. In each instance, the diversity of ideas and creative approaches brought to the workshops by the participating individuals was startling. In each instance, the developing writers in the group were intermittently nervous about revealing their work to relative strangers. In each instance, writers generated pieces of fiction that were thought-provoking and touching.
of Yong Shoo Hoong’s poetry as much as I’ve enjoyed the playful abandon and attitude of Pooja Nansi’s work.
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As we drank our coee the safari camp manager Chris Bakkes read my mind. “You’ll ďŹ nd him,â€? he said, “He just likes to keep us waitingâ€?. I hoped it wasn’t for much longer.
seen the beasts in a wildlife park or a game reserve but no. I’d headed to Damaraland in Northwest Namibia, in search of that “perfect sighting�. It’s the only place in the world where you can see black rhino in the wild, where the animals are truly free – free from even the boundaries of a vast game reserve. Why had I been so idealistic? With no fences (however far apart) to restrict the beasts’ movements and no satellite tracking systems, hadn’t it been obvious I would fail?
The sun burns my skin. Kapoi Kapona,
This is where tourism comes in. SRT works closely with people like Chris Bakkes to create one of those rare, win-win situations; Chris oers holiday makers the chance to track rhino while revenue from tourists funds conservation work.
Now there are around a thousand, thanks largely to the country’s charitable Save the Rhino Trust (SRT). Under a mandate granted by the Ministry of Environment and Tourism, the SRT conserves and manages black rhino populations in the red-rock desert of Damaraland. It’s set itself an ambitious target – to increase numbers to 2000 by 2030. But it needs funding if it’s to succeed.
It was aggressive poaching to fuel the demand for rhino horns that took the black rhino to the brink of extinction in the early 80s. In just twenty years the beasts were slaughtered in their thousands until only 60 remained in the whole of Namibia.
stride through the scrubland, looking for broken branches, rhino rubbing posts, fresh dung and extra large footprints. They rely on skills they learnt growing up in Damaraland; skills some of them once used as poachers.
aren Bowerman, Presenter, fast:track, BBC World News
BLACK RHINO
We approach cautiously; thankful the wind is behind us. Rhinos have poor
We’re bumping along a pot-holed track when the radio bursts into life. Kapoi sets o at speed. The trackers have a sighting. We race through tall grasses and ditches, aware of the distance we have to travel and the onset of dusk. Then, on a hill we spot him; a dominant bull, grazing quietly.
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We have lunch early - an elaborate picnic at the foot of the mountains. Yesterday I would have waxed lyrical over the view. Today I’m quiet; I’m counting the hours to dusk on this, my last day rhino tracking.
Kapoi speaks. He doesn’t even bother to whisper. “It’s too late now,� he says, “our friend’s found shade. He’ll be asleep.� “So when will he wake up?� “Three or four this afternoon.� “Not till then? Are you sure?� I’m still whispering. Kapoi nods. He’s the expert but I don’t want to believe him.
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MMI can prepare the car for the more severe bends by swivelling the light emitting diode (LED) headlamp beams into the corner before the driver has moved the steering wheel. The LED headlamps are distinctive and can vary the depth of their beams based on the proximity of oncoming traffic. The MMI can also prepare the gearbox for a change down and will disengage the cruise control system. This A8 also knows which country it is in, so it will automatically switch the headlamps from left-to-right dipping and back again.
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Drive the A8, and the impression is that Audi is taking its flagship model very seriously. The air suspension is a serious filter: even when you play with the Audi ‘drive select’ system, which alters damping rates, throttle response and gearbox strategy and go faster, it remains supple and absorbent. The result is a driving experience that is distinguished, sporty and confident.
The interior of this car is fantastic, with not one texture or material taking a tactile wrong turn. Elegant wood, leather, and, if so desired, aluminium line everything, with a lip that runs the width of the dash and continues into the doors serving as a sort of aesthetic calling card. Some think this A8 cabin is more attractive than that of the 7-series and cheerier than that of the S-class, and there are fewer buttons than inside the Panamera. A traditional shift lever gobbles up center-console, it looks like a sheathed putter peeking out of a golf bag, but operating it is far more intuitive than using some of today’s quirky joystick-style selectors.
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