Orient Issue 37 by BritCham Singapore

BRITCHAM ORIENT MAGAZINE

Orient

THE OFFICIAL MAGAZINE OF THE BRITISH CHAMBER OF COMMERCE - SINGAPORE

SPECIAL FEATURE

10 16

THE DIAMOND QUEEN SINGAPORE TIME TRAVEL

ISSUE 37

ISSN 0219-1245

9 770219 124002

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I SSUE 37 / JUNE 2012

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Contents

PRESIDENT’S MESSAGE SPECIAL FEATURES

10 16

The Diamond Queen Singapore Time Travel

FEATURES 23

The Benefits and Challenges of Offshoring Services

London, Global Haven for Real Estate Investment?

Cloud Computing: An Agent of Change

Professional Qualification — a Must for Industry Professionals

Budget 2012: A Budget for the Future

BRITISH HIGH COMMISSION / UKTI 38

Experience UK: The UK’s Creative Excellence in Visitor Attractions

British High Commission News June/July 2012

AT THE CHAMBER 47

Executive Director’s Message

BritCham Board Members 2012/13

Events

New Members

Corporate News

BritCham Annual General Meeting 2012

Membership Survey

Events Calendar

Sterling News

74 75

BritCham Facilities Members’ Offers

CULTURE & LIFESTYLE 79 84

Big Win for the British Dragon Boat Team Out of Order

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British Chamber of Commerce, Singapore Sponsors PLATINUM SPONSORS

GOLD SPONSOR

SILVER SPONSORS

BRONZE AND BREAKFAST CLUB SPONSOR

BRONZE SPONSORS

BRITCHAM BOARD: PRESIDENTS Steve Puckett – Tri-Zen International VICE-PRESIDENTS: Hugo Walkinshaw – Deloitte Consulting SE Asia Andrew Vine – The Insight Bureau TREASURER: David Macdonald – Skandia International HONORARY SECRETARY: Damian Adams – Watson, Farley & Williams LLP EX-OFFICIO: Judith Slater – British High Commission Mark Howard – British Council BOARD MEMBERS: Andrew Jones – Barclays Andrew Thomas – Ogilvy & Mather Singapore Caroline Bagshaw – Standard Chartered Bank David Pugh – The Fry Group Dominic Nixon – PricewaterhouseCoopers Emma Boyd – Pinstripe Business Solutions Ingrid Child – HSBC Bank James Deely – The Royal Bank of Scotland plc Neil Montefiore – StarHub Nick McGlynn – British Airways Paul O’Neil – Rolls-Royce Singapore Pek Hak Bin – BP Singapore Peter Allen – Pacific Century Regional Developments Richard Burn – Diageo Singapore Editor: Vipanchi vipanchi@britcham.org.sg Assistant Editor: Yong En yongen@britcham.org.sg 138 Cecil Street, #13-03 Cecil Court, Singpore 069538 Tel: +65 6222-3552 Fax: +65 6222-3556 Email: info@britcham.org.sg www.britcham.org.sg

COMMITTEE CHAIRPERSONS: Corporate Social Responsibility: Richard Burn Events & Sponsorship: Philippe Touati External Affairs: Steve Puckett Membership: Andrew Vine BUSINESS GROUP CHAIRPERSONS: Energy & Utilities – Damian Adams Entrepreneur & Small Business – Peter Seligman Financial Services – Patrick Donaldson IT and Communications Technology – Henry Farahar Leadership – TBA Media & Marketing – TBA Professional Services – Carolyn Lints Property & Construction – Richard Warburton Shipping Transport & Logistics – Neil Johnson Young Professionals – Miles Gooseman MANAGEMENT TEAM: Executive Director: Brigitte Holtschneider Accountant: Sabitha Munnangi Business Enhancement & Events Development Manager: Hima Patel Business Events & Business Group Relations Manager: Tiffeny Kua Marketing & Communications Manager: Vipanchi Marketing & Communications Assistant: Loong Yong En Membership Manager: Katie Hudson Office Administration & Membership Support: Emi Hosono

Orient is a bi-monthly magazine published by the British Chamber of Commerce. ©All rights reserved. The views and opinions expressed or implied in Orient are those of the authors or contributors and do not reflect those of the British Chamber of Commerce, its officers or editorial staff. No reproduction of articles without the prior permission of the Chamber. Unsolicited transparencies ad articles are sent at owner’s own risk and the

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President’s Message

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Dear Members, Our AGM in May was held at Eden Hall and we thank His Excellency the British High Commissioner Antony Phillipson for welcoming us into his home. Members gathered to hear of the progress made over the past year, shared their views, networked and heard of the progress over the past year – including a growing membership, more and better attended events, more focus on doing business within the region, the strong and effective working relationship with UKTI and stronger ties with Singaporean business associations. We continue to focus on developing BritCham as a strong and effective member organisation and developing its presence within Singapore. In leading your board this year, I am supported by Vice Presidents Hugo Walkinshaw and Andrew Vine. I am pleased that Damian Adams will continue as Honorary Secretary and that David MacDonald will continue as our Treasurer. Andrew has stepped up to fill the shoes of John Horsburgh, who leaves the board and indeed Singapore this year. I would like to thank John for his strong support as Vice President and his years of service on the board and I would also like to thank others on the board who this year have stepped down after several years service and these are Stephen Crisp, Charlie MacLean, Roman Scott and Philippe Touati. We welcome the new members to the board, Barclays’ Andy Jones, PWC’s Dominic Nixon, Rolls Royce’s Paul O’Neil, Standard Chartered’s Caroline Bagshaw, Starhub’s Neil Montefiore and The Fry Group’s David Pugh. We count on the active engagement of all our board members for the good stewardship of the Chamber’s activities. Steve Puckett

President, British Chamber of Commerce

Over the past month or so our ever popular flagship summer events, the annual Golf Tournament sponsored by Barclays Capital at Sentosa, and the Rugby Dinner at the Shangri La were enjoyed by members and guests alike. Nominations are open for our 13th Annual Business Awards. Do save your dates for the Annual Business Awards Gala Dinner on 04 October and the Annual Britcham Ball on 01 December. Culturally, we continue to support British and Singaporean talent. We saw British Theatre Playhouse’s comedy “Out of Order” make waves of laughter. HE Mr Tony Tan, President of Singapore and HE Mr Antony Phillipson, British High Comissioner attended the Charity Performance and Gala Dinner. The Singapore Repertory Theatre’s Shakespeare in the Park was also a great success and well received by the audience. In sports, who can forget that it was seven years ago here in Singapore, that London won the race to host the 2012 Olympics. I have just returned from London where preparations are mostly now in place and the sense of anticipation is evident. Here in Singapore, preparations are also underway and we recently presented the “Lord Sebastian Coe-British Chamber of Commerce Dream 2012 Award” to Olympic hopefuls – swimmer Tao Li and paddlers Pang Xue Jie and Isabelle Li at our Leaders in Business Lunch by Sir Alan Collins KCVO CMG. The award is the Chamber’s way of showing its support for students who are determined to realise their dreams of becoming top athletes and it reflects the bond formed between Singapore and the UK for the 2012 games. We wish the Singapore athletes every success and hope that they enjoy their experience of London. The new Membership Directory is now available and I hope you find your personal copy useful. On the horizon for September, Singapore will welcome a historic visit by the Duke and Duchess of Cambridge who are representing HM the Queen at the time of her Diamond Jubilee celebrations. We look forward to presenting the BritCham Diamond Jubilee Commemorative Book. I wish all of you heading for summer vacations an enjoyable and relaxing time and hope that those of you returning are refreshed. I look forward to meeting you at our events lined up for the rest of the year.

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Sterling Members

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SINGAPORE

Singapore

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Special Feature

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

The Diamond Queen By Andrew Marr It’s said that more images have been made of Queen Elizabeth II than any other woman in the history of the world. That’s partly because her sixty-year reign has coincided with a tidal wave of news, film and photography – but it’s also a reflection of her worldwide reach.

Queen Elizabeth II in North Wales © BBC, photography by Sally Norris

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Special Feature: The Diamond Queen

Queen Elizabeth II on tour in Abu Dhabi - © BBC, photography by Sally Norris

She has clocked up more than ninety overseas state visits around the world, everywhere from Moscow and Beijing to the members of the 54-strong Commonwealth. However, that is just the start. On her nowdecommissioned royal yacht Britannia, the Queen made 968 official voyages, calling at more than 600 ports in 135 countries and travelling more than a million nautical miles. Since Britannia was retired, she flies more but has been whisked around by car, minibus, train and even golf buggy; she is by far the most travelled and most seen British monarch ever. You may very well ask, why? As with her manic work schedule in Britain (a constant round of local visits, government paperwork, investitures, audiences with politicians) what is this all for? Does it – does she – really matter, other than serving as the pleasant, unthreatening focus for gooey nostalgia?

The foreign visits are a good place to start. Behind the glitz and the waving, they are essentially a projection of British business and influence in an age when the Royal Navy’s shrivelled to a fraction of its old self. The Foreign Office and the big British companies lobby hard for the Queen’s visits, and behind her come a trail of diplomats, military bods, and businessmen with something to sell. Every country, these days, needs to find ways of being noticed; she is one of Britain’s. More important to her personally, however, is the Commonwealth. It is a pretty odd collection of wealthy nations, such as Australia and Canada, and the hugely populous India, plus many poor regions and quite a few tiny nations too. Overwhelmingly English-speaking, it’s popular enough to be attracting some of Africa’s Francophone countries too. It has no separate military or trade identity, but it brings together leaders and people who would ordinarily never meet, to talk about climate change, democracy, the role of women and good government. Essential? Certainly not. Useful and popular? Yes. Would it even still exist without the Queen’s personal enthusiasm? Good question.

Andrew Marr outside Buckingham Palace © BBC, photography by Steve Schofield)

he has lasted longer in the public eye than the most dogged Hollywood stars and she has also, like a certain lager, reached the parts that even a long career in film (or politics) can’t stretch to. The doings of the Queen and her family are followed from small towns in South America to Mumbai, India, from Japan to Oman. All that is in part because she puts in the miles.

Having followed the Queen for 18 months and spoken to many other leaders, past and present, she speaks to, I came away thinking there was more to it than that. There’s useful human history to consider too. Here is a woman who knew Khrushchev and Churchill, de Gaulle and JFK, Indira Gandhi and Haile Selassie. She’s known all the US presidents of modern times and she passes on stories and reflections, advice about crises and useful anecdotes, to those who are really close, and who need to know. For a journalist, she may be infuriatingly discreet; but for leaders she trusts she is a fountain of knowledge and acquired insight. It has not been all easy. Duty, routine, reading, ritual, have been her daily burden since 1952. The ‘Other Elizabeth’, a woman with her own views, memories,

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preferences and little habits, is only glimpsed occasionally. A good mimic, they say. Shrewdly observant. Careful with money. Impatient with slowcoaches. Dog lover and fan of horses, of course. Making BBC films for her Diamond Jubilee, I found very many people — politicians, civil servants, friends of the family — talking at length about how witty the Queen is. But I noticed that when I asked for examples, they tended to tell me what they had said to her, before sitting back with a pleased smirk. Even her family find her a little enigmatic, I think. Prince William put it well: “I think she doesn’t care for celebrity... and she really minds about having privacy in general. And I think it’s very important to be able to retreat inside and be able to collect one’s thoughts and collect your ideas… and then to move forwards.” It was, “a very tricky line to draw between private and public and duty and I think she’s carved her own way completely. She’s not had a blueprint.”  Prince Harry reflects on her ability to turn up, still smiling, at places she might not want to be: “These are the things that, at her age, she shouldn’t be doing, yet she’s carrying on and doing them,” he said in an interview just before the Duke’s heart operation at Christmas. “Regardless of whether my

The Queen at a garden party in Oman © BBC, photography by Sally Norris

Queen Elizabeth II on her 2011 visit to Australia at the Government House in Canberra © BBC, photography by Sally Norris

“These are the things that, at her age, she shouldn’t be doing, yet she’s carrying on and doing them” — Prince Harry grandfather seems to be doing his own thing, sort of wandering off like a fish down the river, the fact that he’s there — personally, I don’t think that she could do it without him, especially when they’re both at this age.”   Now, with her husband aged 90 and beginning to feel it, there is a question about whether the state requires a little too much now of the Queen, at 85 — Britain’s oldest as well as our second longest-serving monarch. I followed her — at a decent distance — on visits around Britain, barely reported in the national media, where she questioned sheep farmers or nurses, inspected stalls and shops, met endless civic dignitaries, Gurkhas on their way to Afghanistan and regiments of school choirs. I don’t think she misses a trick. Late on in the process I half-jokingly apologised for stalking her. She replied she’d noticed — but it had been a good, interesting time, hadn’t it?

It certainly had been: it included the royal wedding of Kate and William, the historic visit of reconciliation to the Irish Republic, a trip to the vastly wealthy Gulf states Britain now relies on so much, the long tour of Australia, always tipped to be on the edge of Republicanism, a speech at the UN in New York, Barack Obama’s second arrival at Buckingham Palace and the first-ever state visit of a Pope, never mind the election of a coalition government and the aftermath of the banking crisis. Phew… to think those were only some of the headlines. Remember that she was also bestowing honours, attending services and hot, evening receptions at the palace. Day in, day out, she was sitting at her desk for the arrival of yet another fat red box of official paperwork to read, something she does every day of the year except Christmas. It is an astonishing workload. I used to follow political leaders around for a living but early on, I noticed that Team Queen —

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Special Feature: The Diamond Queen informative.” Blair also, by the way, scotched the story that it was his office who wrote the “As your Queen and as a grandmother” speech she made after Diana’s death: “Those words and that language were her own... absolutely not written by New Labour, no — and the very personal touch was actually hers.”

Queen Elizabeth II on her 2011 visit to Australia, the 16th of her reign © BBC, photography by Sally Norris

the press officers, minders and others work economically, and harder. It’s mini-vans and bed and breakfasts, not limousines and grand hotels. There is, of course, an aura of respect and seriousness, though it is not overdone — her Cockney police refer to her, for instance, as ‘the Baked Bean’. When a dress designer arrived from Scotland, determined to measure her in person, she entered cheerfully into the spirit of it, sticking out her limbs — “leg out!” — “arm out!” There’s a lot of laughter. One of her Ladies in Waiting told me, as they entered another civic hall to shrill cheering: “We’re in the happiness business.” Yet of course at the heart of the job is the political role of Head of State, which means not only the secret paperwork, including security services reports, and grand public events like the State Opening of Parliament, but also those near-weekly and entirely private audiences with her Prime Ministers. Hence back to that fundamental question. Does it really make a difference?

About the Author Andrew William Stevenson Marr is a British journalist and political commentator who presents The Andrew Marr Show on BBC One and also hosts the BBC Radio 4 programme, Start the Week. He

Her 12th Prime Minister, David Cameron, told me: “She asks you well-informed and brilliant questions that make you think about the things you’re doing.” However did that make him do his job better? “I think you reveal both to her, but also to yourself, your deepest thinking and deepest worries... and sometimes that can really help you reach the answers.” This sounds hard-edged. The former UK Prime Minister Tony Blair agreed: “She keeps her ear very much to the ground... though conventionally it’s supposed to be Prime Ministers briefing the Queen I found it a genuine exchange... she had a very clear and shrewd sense of where people would be on political issues.” There was nobody, he added, “who has a better idea of crisis, what it’s like, how it is, and how it also doesn’t go on forever.” He had often talked to her “about the past, about previous Prime Ministers, what it was like, how they handled things. And she was prepared within the context of the audience to be very frank and open and

presented a landmark documentary series, The Diamond Queen, which was broadcast on BBC World News to celebrate Queen Elizabeth II’s 60 years as Head of State of the United Kingdom and Head of the Commonwealth.

The BBC attracts a global audience of 241 million people to its international news services including BBC World Service and the BBC World News television channel. For further information on how to receive BBC

Following her is also a lesson in the remorseless demands of a modern state. Her visit to Abu Dhabi and Oman was dictated by the desperation of ministers to drum up more investment from one of the richest parts of the world, and to talk about the Iranian threat across the Straits of Hormuz. Her tribute to the firefighters who fell at Ground Zero in New York produced a wave of emotional coverage in the US. Australian republicanism took a heavy knock after her tour there. She has found a personal chemistry with the Obamas that is both real and useful. In addition, in Ireland she ‘closed the circle’ of a bloody history, as the Taoiseach Enda Kenny put it, in a way no other British person could. There will never be another monarch remotely like this one — who has seen so much, from World War through the terrors of the Cold War and the turbulent social revolutions of the last century. It may well be true that, to her, today’s crises don’t seem quite so daunting. One day she won’t be with us any more. For the British, and I suspect many others too, there will suddenly be a Queen-sized hole. What’s the point of a Diamond Jubilee? Well maybe, we have been taking the Queen a little for granted; and maybe, after 60 years, it’s time we stopped.

World News, download schedules or find out more about the channel, visit bbcworldnews.com. Images courtesy of BBC World News.

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Special Feature

Singapore Time Travel Celebrating Singaporeâ&#x20AC;&#x2122;s Evolution

Antiques of the Orient

The modern history of Singapore dates back to 1819 when Englishman Sir Stamford Raffles established a British port on the island. It has since grown into a developed nation. With the recent Diamond Jubilee celebrations and the upcoming 47th National Day of Singapore, it is timely that we reflect upon the countryâ&#x20AC;&#x2122;s changing landscapes and its British legacy in this visual journey. >

2012 Singapore River

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1929 Singapore River

Singapore River

With great historical importance, this river has an extraordinary story to tell about Singapore. If one has to tell the tale of time, this would be the centre stage. The very lifeblood of the once British colony, this river has a colourful and romantic history of yesteryears. This is where trade happened, where the Malayan princes once sailed and also where the bullock carts plodded their way up and down each bank as the river found its way to the former rocky river mouth. Today, the river empties into Marina Bay by the Merlion, which is a major landmark.

1929 Singapore River http://www.ebedejong.nl/e_twakow.htm

2012 Singapore River

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Special Feature: Singapore Time Travel

Raffles Place, HSBC Singapore, celebrating HM Queen Elizabeth’s Coronation in 1954

Central Business District

Raffles Place 1936 http://www.flickr.com/photos/57081097@N03/5268339855/

2012 Raffles Place

1930s Raffles Place http://www.the-inncrowd.com/mypaternalgramma02.htm

The CBD is the country’s trade and finance hub. The area is home to many important and significant financial buildings and some British companies that have historic relevance include HSBC and Standard Chartered Bank. Over the course of its history, dating back as far as the 18th Century, this area has grown kin to ‘change’. However, century-old shophouses nestle among state-of-the-art architecture. The area once housed what is now the Downtown Core, Museum, Newton, Orchard, Outram, River Valley, Rochor, and the Singapore River planning areas.

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Singapore Cricket Club

This national treasure was established in 1852, the club stands at the centre of the city’s colonial heart, the Padang, a public space that has witnessed many of Singapore’s triumphs and defeats, upheavals, its independence and the National Day Parade on 9 August every year. Patrons and members of the old Singapore Cricket Club

Singapore Cricket Club 160 years ago

The old green on the Singapore Cricket Club

2012 Singapore – Comfortably nestling the old and new

Raffles Hotel: Standing the Test of Time

Declared as a National Monument in 1987, the hotel first opened its doors in 1887, founded by the four Armenian Sarkies Brothers and named after the Lieutenant Governor Sir Stamford Raffles who arrived in Singapore on 28 January 1819. It was built on the land owned by an Arab trader and philanthropist Syed Mohamed Alsagoff. It was once known as a seaside destination. Raffles Hotel 2012

Raffles Hotel in early 1900s

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Special Feature: Singapore Time Travel

Those who have lived in this city-state since the 1960s must be amazed at the transition. The Republic of Singapore today lives up to its national motto, ‘Majulah, Singapura’ (onward Singapore). It is the world’s fourth leading financial centre, the world’s second biggest casino market, and the world’s third largest oil refining centre. The port of Singapore is one of the five busiest ports in the world. The country is home to more US-dollar-millionaire households per capita than any other country and the World Bank notes Singapore as the easiest place in the world to do business. It also has the world’s third highest GDP per capita, at US$59,936, making Singapore one of the world’s wealthiest countries. ‘Majulah, Singapura’ indeed!

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Feature

The Benefits and Challenges of Offshoring Services By Keith Martin

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he age of globalisation has brought with it the growth of world economies and consequently, companies are growing at a rapid rate. These include up and coming companies with great potential, to the world’s most established brands, especially small-medium enterprises which are the backbone of most economies. As these companies seek to expand, going beyond their native shores has become common practice. The advantages of offshore expansion and shared services brings about significant benefits for companies as they face challenges such as rising costs, the need to find skilled talent, as well as space constraints. This is especially felt in a small country like Singapore. Expanding into new markets has brought additional benefits such as opening businesses up to new market opportunities, access to lower labour costs and new technologies. For businesses to thrive

Feature: The Benefits and Challenges of Offshoring Services

today, offshoring and expansion make complete sense.

as an attractive and affordable lifestyle is enormous.

Singapore and Malaysia – partnerships for businesses growth

Singapore-based companies are in prime position to capitalise on this growth as bilateral relations have significantly warmed between both countries over the years. With the historic land swap agreement last year, both governments have committed to development projects across each other’s borders, as we see the creation of a joint development company between Temasek and Khazanah.

Singapore and Malaysia represent two of the most reputable markets in the ASEAN region and have long been attractive locations for businesses looking to establish their operations. Singapore is a globally connected economic player and the country is ranked fourth as a global financial centre. Likewise, as a recognised economic powerhouse, Malaysia has also embarked on an ambitious Economic Transformation Programme (ETP), to mould itself into a higher value economy by 2020. While businesses have primarily flocked towards Kuala Lumpur, the Malaysian government’s latest initiative in Iskandar Malaysia located in Johor has received tremendous interest. Earmarked as the country’s future engine of growth, the potential for business profitability as well

This will encourage flourishing business opportunities for companies on both sides. Both Singaporean and Malaysian politicians have been equally welcoming in promoting cross-border expansion. Faced with the growing challenges of inflation, regulatory changes and space constraints, Iskandar Malaysia represents a high potential development that Singapore-based businesses can turn to.

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Medini, the blended solution for business

Located just 15 minutes away from the Second Link is Medini, the central business district of Iskandar Malaysia. Medini is an integrated development zone which offers ideal business and investment opportunities across the three main environments of Medini Lifestyle, Medini Business and Medini Living. The three zones work in conjunction with one another, offering complementary opportunities for businesses to take advantage of. More importantly, investors can be assured of high-quality infrastructure development at a lower cost base within Medini. This year represents an exciting time for Medini as Iskandar Malaysia reaches its tipping point. Projects in and around Medini are set to launch over the coming year and these contribute to the vibrant eco-business system in and around the development. Later this year, LEGOLAND Malaysia will open its doors, an event that will undoubtedly see tourists flocking to Iskandar Malaysia. Marlborough College, the 168-year education institute world renowned for its strong alumni in Europe will also see Duchess of Cambridge, Catherine Middleton, inaugurate the campus. Pinewood Iskandar Malaysia Studios (PIMS) is also expected to open in 2013 with the state-of-the-art infrastructure already set in place. In anticipation of these important launches, Global Capital & Development, the master concessionaire behind the development of Medini, has also launched key projects to support the first wave of catalytic investments. Media@Medini, located within the business centre of Medini will provide the business space ecosystem generating a regional hub for media and creative businesses and the support network for PIMS, which houses

About the Author Keith Martin is the CEO for Global Capital & Development, tasked with the development of Medini, Iskandar Malaysia. He has over 25 years of experience in Asia in the areas

production centres, art houses and digital workshops as well as educational facilities. GCD is also building the SME Business Park to cater to the SME sector, which forms the backbone of the regional economy. The facility not only provides a quality environment to house offices and support operations, but also represents a cost-effective solution to business SME space needs, having the advantage of being specifically planned to respect and reflect actual business demand and end-user requirements.

Incentives

These projects are expected to create an attractive collaborative eco-business system that growing businesses can tap into. Early movers can also expect to reap first-mover advantage through setting up alongside the established names already present in and around Medini. For British companies, this could be especially useful with the presence of established pedigree European businesses.

of Public-Private Partnerships (PPP), construction, project finance and infrastructure development. Notably, Keith was instrumental as Development Director for the Singapore Sports Hub project.

In addition, the Malaysian government has also introduced a variety of incentives, both fiscal and non-fiscal, to kick start entry into Iskandar Malaysia. For example, approved businesses will be granted tax exemption for 10 years and will be allowed to source capital globally and the flexibility to employ internationally sourced talent. Foreign businesses will also enjoy 100 percent ownership of their land and their business operations by setting up in Medini.

Building a community for the future

With the level of strategic and detailed planning deployed to date, considerable investment in building long-term township infrastructure already in place, and international brands already landed within the Medini development, it represents a compelling investment decision that businesses should consider sooner rather than later.

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Feature

London, Global Haven for Real Estate Investment? By Tim Murphy

he world’s stock and property markets are still fraught with uncertainty, despite signs of stabilisation in early 2012. That uncertainty is prompting real estate investors to gravitate towards established markets, which offer a safe haven and long-term growth, and are less volatile than emerging markets. Although the broader British market is still working its way out of a property downturn caused by overly aggressive borrowing, London is one such safe haven for property investors. An influx of overseas money looking for a ‘home’ – in both senses of the word – has led to rising land and house prices in the British capital.

Italian purchasers have this year replaced Russians as the top overseas buyers in London, making up eight per cent of all purchases, according to international property consultancy Knight Frank. Russians have been the top source of international demand for several years, with strong interest from buyers in the Middle East, India, Hong Kong and Singapore as well. International buyers now make up 43 per cent of high-end property purchases in London, and 63 per cent of the buyers of new property, since such buyers are often open to the idea of buying off-plan. The pot of people looking to buy in London

is more diverse than other major cities, with tax laws toughened but still receptive towards residents who are domiciled elsewhere. Brokers say, though, that mainland Chinese buyers have yet to tap the city, preferring Hong Kong, the United States, Canada and Australia as outlets for their overseas property investments for now. That may well change as China’s millionaires become increasingly worldly and wise. Europeans in particular view London as the continent’s financial capital and a perfect parking spot for their wealth. According to Christie’s Real Estate, some London properties are now trading at over £7,000

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per square foot. That makes the city the most elite and valuable market in Europe. Plenty of money has been flowing from problematic areas in the Eurozone into London, with rich Italians, joined by Greek investors, seeking a safe haven for part of their fortunes. That has been reflected in demand for higher priced properties, with prices up 14.4 per cent for homes priced between £1 million and £2.5 million, according to Knight Frank. More dramatically, the number of prospective buyers looking to shop around for homes worth more than £5 million is up 65 per cent compared with a year ago. More than half of the buyers of high-end London property are from overseas, brokers say. That kind of demand drives prices forward. Central London land values are expected to increase by 22.7 per cent by 2016, according to estate agents, Savills.

About the Author Tim Murphy is the founder and CEO of IP Global, a property investment company that specialises in emerging, recovering and developed markets. To date, the company

The increase in investors, together with buying property to rent, has been supported by an extremely strong rental market. The financial crisis in Britain has led to increased demand from renters who are no longer able to afford a home and have been cut off from the previously free-flowing bank credit, which is now at a premium. London is the second most expensive major city in the world to rent property, behind only Paris, Knight Frank says. Rents rose by 4.6 per cent in London in the first half of last year, outpacing the 4.2 per cent gain for capital values, although in the second half of the year, rents only advanced 1 per cent. Still, that leaves rental yields at 5.1 per cent, second only to New York’s 6.9 per cent among major cities. With the Olympics coming up, plenty of eyes will be on the British capital, which aims to use the event to revitalise run-

has invested over US$900 million on behalf of their clients in 19 markets across the globe.

down neighbourhoods in the east of the city. Although the games are notorious ‘white elephants’ for the governments that back them, they still result in heavy infrastructure spending that benefits the host city for years to come. The image of ‘Cool Britannia’ is also likely to get another boost from the international visibility and exposure. That buzz leaves prospects looking solid in the city. Knight Frank forecasts note that prices in prime central London are now 40 per cent above their post-credit crunch low in 2009, with prices likely to grow five per cent this year, will decent capital gains and a strong rental yield be all it takes? Those factors beat a bank deposit earning you less than inflation.

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Cloud Computing:

An Agent of Change

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here has been a great deal of talk about the continued stellar growth of the international cloud computing market. According to global research and advisory firm, Forrester Research, the market will reach a total value of US$241 billion by 2020. From its starting point of US$40.7 billion in 2011, that equates to an annual growth rate of more than 17 per cent, which is equivalent to doubling in size roughly every four years. Of course, in the real world, adoption growth does not follow a linear path and, behind those headline numbers, there is a much more interesting story emerging. It is a story of what happens once two key short-term barriers to cloud computing adoption are overcome – and fundamental changes that occur in the way businesses view, use and access Information and Communications Technology (ICT). In the grand scheme of things, cloud technology is still in its infancy, so the

technology industry remains very much engaged in educating the market and removing barriers to adoption. The shortterm issues in cloud technology will be familiar to many.

The cost/benefit model

Cost comparisons between cloud and onpremises storage solutions are still very often misunderstood. Many Chief Information Officers (CIOs) evaluating cloud solutions compare cloud operating expense (OPEX) with the capital expenditure (CAPEX) associated with a more traditional alternative – without also factoring in ongoing operating costs associated with more traditional on-premises solutions (mainly because the costs like cooling and power fall outside their remit). This oversight often makes ‘cloud’ appear more expensive, which is rarely the case when a true comparison between the two is applied.

Proven, repeatable solutions

There is still a great deal of work to do in helping CIOs understand what ‘cloud’ really is, how it can and should be used, what the

According to global research and advisory firm, Forrester Research, the international cloud computing market will reach a total value of US$241 billion by 2020.

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benefits beyond cost might be and what the risks are. Firstly, it is pretty clear already that consumer-cloud solutions are never going to be appropriate for business. The problem affecting enterprise adoption here is that ‘cloud’ remains deeply associated with off-the-shelf solutions from the likes of Amazon and Google. Even so, the ICT industry can learn from the publicly available cloud model’s clear proposition — to bring to market-hosted and private companies — cloud solutions, which can be closely tailored to individual cases, particularly business needs. Both of these issues, once addressed, will undoubtedly accelerate cloud adoption, which leads us back to the more interesting long-term developments. Behind the promising industry growth forecasts, such as Forrester’s, it is no surprise to see Software-as-a-Service (SaaS), whereby applications are hosted by a vendor or service provider and made available to customers over a network,

Feature: Cloud Computing: An Agent of Change

predicted to dominate the cloud market. It is a natural consequence of the direction in which cloud solutions are driving enterprise technology strategies and, by consequence, the role of the CIO.

A supply chain management model for ICT

Taking retail as an example, it is not unrealistic to predict that major retailers will move entirely away from direct ICT ownership. Having something in common with most businesses, retailers want all the benefits that technology brings, but buying and maintaining technology, as well as acquiring and continually developing the skills required to do so, is not their core business. As a consequence, within ten years (possibly sooner) they, and other organisations, will move to a model based on the flexible acquisition of technology and services through servicelevel agreements with a number of partners — a development that can only

CIOs will increasingly have to operate as ‘change enablers’ and cloud computing will be the single most significant change agent.

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Apple’s iCloud demostration

be enabled through cloud deployment. Clearly, this is a provision model that retailers (and manufacturers for that matter) are already entirely comfortable with. Supply chain management most certainly is a core business competency, so it is likely that this is where the shift to a similar model for ICT will begin. However, it will not be limited to retailers and, as cloud adoption grows, supply chain management will become a dominant model for the acquisition of ICT — which has far-reaching consequences for CIOs and IT departments. For their part, IT departments will naturally become increasingly focused on service definition and management, with architectural and business engagement skills coming to the fore.

Logicalis is an international IT solutions and managed services provider with a breadth of knowledge and expertise in communications and collaboration; data centre and cloud services; and managed services.

Logicalis employs 2,500 people worldwide, including highly trained service specialists who design, specify, deploy and manage complex ICT infrastructures to meet the needs of over 6,000 corporate

CIOs will increasingly have to operate as ‘change enablers’ and cloud computing will be the single most significant change agent, not just in terms of ICT provision, but in how businesses go to market. Once CIOs get to grips with cloud computing and enable the change it can deliver, they will play a pivotal role — one that may ultimately see enterprise computing come of age — by allowing businesses to focus all their creative and organisational energies where they matter most.

and public sector customers. To achieve this, Logicalis maintains strong partnerships with technology leaders such as Cisco, HP, IBM and Microsoft.

The problem affecting enterprise adoption is that cloud remains deeply associated with off-the-shelf solutions from the likes of Amazon or Google.

share in our success in Asia When making investment decisions it makes sense to be guided by the experts. Our Executive Investment Account has just been awarded Best Single Premium Investment Product (Far East) in the International Life Awards 2010. And our Investment Account won Best New Product (Far East) in 2009. These were voted for by an independent panel, appointed by ‘International Adviser’, a recognised publication for global investment advice. Royal Skandia is a premier offshore provider that truly understands your financial goals. Please 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. Skandia International is the registered business name of Royal Skandia Life Assurance Limited (Singapore Branch). 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 – a member of the Skandia Group of companies. Registered Office/Head Office: Skandia House, King Edward Road, Onchan, Isle of Man, IM99 1NU, British Isles. INT11-006

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Professional Qualification â&#x20AC;&#x201D; a Must for Industry Professionals By Ghan Shyam Dubey

ast year was tough for the banking industry. Revenues fell considerably and many financial institutions have not been able to achieve the returns forecast in initial revenue projections. Add to this, the continuing Eurozone crisis, changing regulations, rising capital requirements, overcapacity in the banking sector and fewer client activities, and the global banking outlook is set to remain challenging.

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In an effort to boost fortunes in the banking sector, the industry remains committed to retaining and recruiting talent. Singapore, being a relatively young nation, is experiencing a shortfall in the number of experienced professionals needed to fill specialised financial-sector roles, ranging from entry level to more senior management positions. The local banking industry is one of the city-state’s many sectors experiencing a shortage in talent. Positions that are high in demand wthin banks include complex derivative front-desk trade to back-office system analysts who perform clearing processes and order processing of fixed income and derivatives. Meanwhile, management positions, such as heads of departments and regional management, continue to be helmed by expatriate talent acquired from foreign offices. These foreign talents are highly qualified in their specialised fields and often hold highly recognised international qualifications such as the global Association of Chartered Certified Accountants (ACCA). 1

Feature: Professional Qualification — a Must for Industry Professionals

In recent years, internationally recognised professional qualifications, such as the ACCA, have become increasingly popular within the banking industry as they equip employees with industry-specific skills and demonstrate a commitment to training and career development. Many top international investment banks in Singapore encourage their employees to undertake professional qualifications in addition to their degree, in order to benefit the banks and the employees. As a result, the company secures a highly skilled workforce and the employees are given the opportunity to broaden their skills and knowledge. To encourage this further, some employers allow employees to take time off for their studies and subsidise their training cost. Local universities and training institutes understand the demand gap between the industry needs and availability of local talent and, within the last five years, have introduced courses to fill such gaps. Graduates may be exempted from the earlier modules of professional qualifications, which they then go on to pursue upon their graduation.

http://www.asiaone.com/print/News/Latest%2BNews/Singapore/Story/A1Story20120203-325539.html Abstract: “In foreign banks, Singaporeans usually occupy the operational roles, while most of the trading and sales positions are occupied by foreigners,” The truth is that there aren’t enough talented Singaporeans to go around yet. “Within the financial-services industry, the pool of Singaporeans with prior knowledge in market risk and valuation, or exposure to exotic products within trading desks remains limited and requires a longer period to mature,” explained Ms Goh

Although this is good news for Singapore’s local workforce in the long term, the turnaround time to generate the required talent ranges from eight to 10 years. As a result, in the short term, front office, senior management and trading positions continue to be filled by talent, with internationally recognised qualifications and years of industry experience, from overseas. This is the way to go as all other successful cities around the world are following suit. Singapore is mentioned among the Asian megacities and praised for its amenities and talented pool of human capital, which is supplemented by talent relocated from overseas. The positive benefits of further qualifications obtained are not only limited to the organisation hiring talented individuals but also for the general economy of the country. Taking in an entrepreneur, engineer or banker could create many jobs for Singaporeans. These specialists are harder to come by, measuring only in the few thousands. With luck, it may rise to tens of thousands.

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More importantly, they arrive with their own knowledge of foreign markets; many of them infuse new ideas into the local work or services to innovate and improve the work culture. Singapore will continue to face challenges from other developing cities around the world. Top Chinese cities like Beijing and Shanghai â&#x20AC;&#x201D; with their vast low cost workforce, want to attract qualified foreigners to bring

About the Author Ghan Shyam Dubey is a part-time ACCA tutor at London School of Business & Finance (LSBF), in Singapore. Ghan holds a Bsc (Hons) Degree in Accounting from Oxford Brookes University in the United Kingdom. Students will gain from Ghanâ&#x20AC;&#x2122;s extensive and valuable working experience ranging from external audit to investment banking. He started his career with KPMG and

in outside ideas â&#x20AC;&#x201D; and are prepared to pay competitive salaries. The ambition of Singapore to remain an international financial centre will only be possible if it continues to maintain a strong talented workforce to rival cities such as New York, London and Hong Kong.

then progressed to renowned International Investment Banks like Credit Suisse. Ghan currently holds a professional position in Royal Bank of Scotland (RBS).

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Feature

Budget 2012:

A Budget for the Future By Gordon Lawson

ith the majority of developed economies struggling to find any growth last year, Singapore has continued to shine with a 2011 growth rate of 4.9 per cent off the back of a 14.5 per cent growth rate in 2010 despite the lack of natural resources. Singapore is gearing up to do better despite the challenges. In the recent budget announcement, Singapore’s government reaffirmed its commitment to increase productivity and innovation across all sectors. It recognised that sustained growth in the Singapore economy requires a highly educated and efficient domestic workforce which can adapt to changing times. The government therefore placed greater emphasis on the need for self-sufficiency and less reliance on imported labour.

In effort to balance the need for selfsufficiency, the government introduced a number of initiatives to ensure that the lower rung of society is not forgotten and left behind as Singapore progresses, with support in the key areas of social mobility for lower income families, the elderly and the disabled.

A Budget for the Future

Finance Minister Tharman Shanmugaratnam, called it a “Budget for the Future” with a firm focus on Singapore’s longer term challenge of building a better future for Singaporeans.

Looking beyond just managing costs for businesses

There is no corporate tax rebate this year although the Government will maintain the SME cash grant capped at the lower

of five per cent of revenue or S$5,000 for Year of Assessment 2012. In terms of help in managing rising costs and a slowdown in demand, there appears to be little in 2012’s Budget. In a bid to moderate the growth of the foreign workforce, the Dependency Ratio Ceilings (DRCs), which specify the maximum proportion of foreign workers that companies can hire, have been reduced by five percentage points across both the manufacturing and service sectors. To help fill the gap left by the reduction in foreign headcount, carrots are dangled to encourage businesses that achieve growth through innovation, improve productivity and design better jobs to attract local workers, including the introduction of the Special Employment Credit (SEC) targeted to encourage

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businesses to employ Singaporean workers aged 50 and over, and, the introduction of enhanced training and support subsidies for SMEs. Furthermore there are sweeteners such as doubling the cash payouts under the Productivity and Innovation Credit (PIC) scheme from $30,000 to $60,000 and making disbursements quarterly instead of annually. These incentives enhance the PIC scheme to make it more attractive to businesses in the service sector. Deductibility of mergers and acquisitions transaction costs, and guidelines that provide more certainty on the taxability of gains on disposal of equity investments will also serve businesses and investors well. Even though these measures, along with others introduced at the last few Budgets, do not address short-term cost issues directly, they are targeted at helping companies gear up for longerterm growth. With little new for multinational corporations (MNCs), we can only gauge from this that the Singapore government’s existing network of tax incentives is meeting, or even exceeding expectations at a time when many of Singapore’s competitors are under pressure to contain public finances. To that extent, Singapore certainly has room to manoeuvre during this period of uncertainty.

Giving support to low-income families, the elderly and disabled In encouraging older workers to return to the labour market, the Central Provident Fund (CPF) contribution rates for those aged 50 and above will be increased. The elderly will also receive more help in unlocking their biggest asset, their homes, to fund their retirement with an Enhanced Lease Buyback Scheme and a Silver Housing Bonus.

The disabled and the low-income groups are not forgotten with programmes to strengthen early intervention and education for those with disabilities, and more financial assistance for children from lower income families to provide a foundation for social mobility.

More equitable tax system

To ensure that the tax system does not hurt the poor hardest, a new permanent goods and services tax (GST) voucher system has been introduced to alleviate the cost of GST in the hands of retirees and lower income families. Coupled with other benefits through schemes such as Workfare, housing, education and healthcare, the older citizens and lower income groups will benefit more from these schemes than the GST that they ultimately pay.

individuals and households tended to be through one-off measures. However, the approach this year suggests that the Singapore government is moving to a new social compact, taking on a greater role of supporting individuals and households. The aim is very much on ensuring the long-term growth of Singapore, providing focused and targeted measures to give a hand to those who need it the most. While the sceptics may argue that there is an element of political motivation in these changes, the fact remains that the government has shown again that it can adapt to the changing needs of its people.

Taken in totality, 2012’s Budget shows a shift in the government’s attitude and policy mindset. In the past, it was centred on each individual taking responsibility for their own needs, and any support for

About the Author Gordon has worked in tax for more than 20 years across multiple jurisdictions. His experience revolves around advising multinational clients from Europe, US and Asia-Pacific on a wide range of cross-border tax

issues, including M&A and tax-efficient supply chain structuring, group reorganisations, e-tax solutions and dispute resolutions. He also works with local government agencies to secure tax incentives and other grants for his clients.

Gordon’s experience spans a wide range of industry sectors with a focus on international tax and cross-border restructuring advisory work. He is a member of the Institute of Chartered Accountants of Scotland and holds a Bachelor of Law and Accounting from

Glasgow and an MBA from the University of Georgetown.

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British High Commission / UKTI

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Experience UK:

The UK’s Creative Excellence in Visitor Attractions By Sarah Croft >

Imperial War Museum North

Our home-grown visitor attractions have built their success on imagination, ingenuity and expertise; skills which UK companies are keen to offer to attract developers around the world.

Planning:

ith 1000 years of history to draw upon, a beautiful and varied natural environment, and cutting edge arts, it is no surprise that the UK remains one of the world’s ‘must see’ tourist destinations. Arguably this is truer in 2012 than in any other year in recent history with the pageantry surrounding Her Majesty the Queen’s Diamond Jubilee; the London 2012 Olympic and Paralympic Games; and the cultural Olympiad showcasing the country as never before. With this breadth and depth of experience to draw upon, UK companies have built a globally successful industry around the business of developing tourist attractions. The UK is now a global leader in the ‘experience

Interior of the British Museum — Great Court with glass roof at the British Museum with the Reading Room building, London

economy’; the creation and operation of attractions such as museums, galleries, science centres, heritage sites, zoos and aquaria, and theme parks. World-class events such as Wimbledon, world-class art galleries such as the Tate Modern and world-class regeneration schemes such as The Eden Project don’t just happen by themselves, nor do they spring into existence as financially viable, profitable, concerns. Whether a project calls for feasibility studies, architecture, construction, exhibition design, interpretation, equipment supply or management consultancy, the UK has companies able to deliver these capabilities with experience, know-how and cultural sensitivity.

The UK boasts a large number of consultancy firms that can carry out economic impact and feasibility studies, offering invaluable market research and advice on such issues as pricing, ticketing, competitor activity, customer numbers, financial sustainability, strategic development and legacy. Visitor-attraction assessment techniques and improvement programmes are also devised and supplied by UK firms. A great many acclaimed architects are British as are the engineering and construction firms who bring the architectural plans to life. Such is the cutting-edge nature of many of these buildings that they are increasingly becoming attractions in their own right. The Deep, Hull, is one of the most spectacular aquariums in the world. Its dramatic building was designed by Sir Terry Farrell and constructed by MeroSchmidlin (UK). www.thedeep.co.uk Baltic Centre for Contemporary Art, Gateshead, is the largest contemporary

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British High Commission / UKTI:

Experience UK: The UK’s Creative Excellence in Visitor Attractions

art gallery in the UK outside London. The conversion of the old Rank Hovis flour mill into a six-floor art centre was undertaken by London based Ellis Williams Architects. www.balticmill.com Royal Armouries Museum, Leeds, is a state of the art tailor-made site. It is the brainchild of Derek Walker, chief architect and planner of Milton Keynes, and harnesses the diverse skills of historians and cutting-edge engineers. www.armouries.org.uk

Designing:

The Eden Project greenhouses are recognisable the world over, constructed from hundreds of hexagons and a few pentagons. Designed by Grimshaw; Structural Engineer, SKM Anthony Hunt; Steelwork, Mero-Schmidlin (UK). www.edenproject.com The Royal Botanic Gardens at Kew house the largest collection of plant species in the world. The Treetop Walkway was conceived by Marks Barfield architects. The pioneering structure of the 18-metre high, 200-metre long walkway is an ingenious design based on a Fibonacci numerical sequence, often found in nature’s own growth patterns. www.kew.org The V&A has spent the last 10 years transforming and revitalising its visitor facilities and redisplaying its collections, including the refurbishment of a wing to house the Medieval and Renaissance collections. The companies involved include: MUMA, Stanton Williams, Softroom and Wilkinson Eyre Architects. The latter of course are part of the consortium responsible for Gardens by the Bay. www.vam.ac.uk

Engaging:

In order to be successful, a visitor attraction must engage, educate and/or entertain its audience. The transformation

of displays and the use throughout the UK of increasingly interactive, original and high-tech exhibits, presentations, tours and experiences is evidence of the ability of UK specialists to meet these objectives in stylish and memorable ways. The UK is particularly strong in the production of audio-visual and multimedia programmes and aids, as well as the supply of the equipment and software to operate and display these. The provision of advice on how to protect and conserve museum objects is another of the UK’s strength. Imperial War Museum North, Manchester One of its main attractions is ‘The Big Picture’, a 360 degree audiovisual experience created by London-based Event Communications. The presentations use 60 projectors and over 1500 slides. The continually changing images are projected onto the gallery walls, floors and visitors themselves creating a total ‘immersive’ environment. http://north-iwm.org.uk Jorvik Viking Centre, York Visitors to the centre journey through a reconstruction of Viking-Age streets, complete with sounds and smells. The faces of the models are reconstructed from Viking skulls. The Centre was created by the York Archaelogical Trust. www.jorvik-viking-centre.co.uk

Exhibition design combines creative genius with project management to ensure delivery that is on time and within budget.

Victoria Albert Museum

Locum Consulting

UK firm Locum Consulting was appointed by Singapore’s Ministry of Information Communications and the Arts (MICA) to advise on the development of a new National Art Gallery. They advised on the vision, objectives, market context and master plan of the new gallery. The business plan they produced was based on detailed market and comparator research and comprised a five-year operational plan and capital model. Sushma Goh, Deputy Director, Art Gallery Project Unit, MICA stated: “Locum’s broad based experience has been invaluable in helping us take forward the development of a new National Art Gallery for Singapore. The company’s competence in combining creative ideas with hard-nosed financial planning is incomparable.” www.locumconsulting.com

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The National Space Centre, Leicester is an interactive experience developed in consultation with space scientists from around the world. The 360 full-dome digital planetarium was developed by NSC Creative, suppliers of computer generated animation and visual effects. www.spacecentre.co.uk

The British Museum regularly provides consultancy services on museum management, collection management, interpretation and display, education and programming, marketing and media, security and information technology. One of its flagship initiatives is the annual International Training Programme, which aims to expose curators from outside Europe to different aspects of museum work. www.britishmuseum.org The Natural History Museum recently established a Planning and Design Consulting business unit to deliver its expertise to external clients. Recent overseas projects include the Restless Planet attraction in Dubai and the ‘Lost Worlds’ exhibition in Doha. www.nhm.ac.uk

Sustaining:

Increasingly visitor-attraction customers, especially younger ones, expect a ‘green’ experience that embraces sustainability throughout the management and operation of the venue. Operators and suppliers need products that reduce power consumption, pollution and waste, and capture carbon. The UK leads the world in providing sustainable technologies, design and techniques that improve the profitability of leisure venues and attractions. Visual Acuity is one such company. www.visual-acuity.com

The Eden Project

The UK has built up extensive experience and expertise in advising and training representatives from similar attractions overseas in areas such as marketing, management and curatorial techniques; helping develop capacity and enhance performance.

Advising:

The Royal Botanic Gardens at Kew

Experience UK Online Directory Are you planning a new or refurbished leisure attraction?

If so, go to the Experience UK Online directory for more information about and contact details of UK companies supplying products and services for leisure venues and attractions that entertain, educate and/or inform. We are calling all UK companies supplying products and services for these industries. Make sure that you are listed (free) in the Online Directory on www.experienceuk.org

Other Contacts

Museums Association www.museumsassociation.org E: info@museumsassociation.org T: +44 (0) 20 7426 6910 TiLE (Trends and Technology in Leisure and Entertainment) www.tileweb.org E: tile@andrich.com T: +44 (0) 1985 846181 British Expertise www.britishexpertise.org E: mail@britishexpertise.org T: +44 (0) 20 7842 1920 UKTI Experience Economy Team E: experienceuk@ukti.gsi.gov.uk T: +44 (0) 20 7215 4283

Coming to Singapore

Closer to ‘home’ you can experience yourself some of the best the UK has to offer right on your doorstep. Check out: • A V&A wedding dress exhibition coming to National Museum of Singapore from August until October 2012. • The Royal Academy’s Asia exhibition coming to LASALLE College of the Arts in September 2012. • Look forward to the biggest and most unique project, Gardens by the Bay which has been designed and created by six UK firms: Grant Associates, Wilkinson Eyre, Atelier One, Atelier Ten, Land Design Studios and Arup. It opens this summer.

About the Author Sarah Croft Director, Trade UK Trade & Investment

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PM David Cameron and Aung San Suu Kyi - Burma

British High Commission / UKTI

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June/July 2012

British High Commission News By Judith Slater

“Today Britain is looking East as never before”, so said the Foreign Secretary, William Hague when he visited Singapore on 25 -26 April. I hope some readers of Orient were able to attend his speech at the Fullerton Hotel – the Second IISS Fullerton Lecture. For those who weren’t, I recommend it to you.* For those of us representing the UK here in Singapore, it’s a message we’re familiar with: we see it in the emphasis the British government is placing on its relationships with the governments of this most dynamic of continents. In very practical terms, this means more resources – yes, even in these times of austerity! William Hague announced in his Fullerton speech that we hope to open up to eight new British diplomatic posts in Asia by 2015. He couldn’t give chapter and verse on all of those yet, as in some cases we are still talking to the governments in question. However, he did specify Laos, where we will shortly be reopening the British Embassy which closed in 1985. Also by 2015 we’ll have about 60 new staff in China, 30 in India and, importantly for Orient readers, about 50 across Southeast Asia (along with Korea and Mongolia). Most of these extra staff will be helping contribute to our “prosperity agenda” – i.e. helping Britain export its way back to growth, and to attract inward investment from Asia into the UK.

William Hague

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British High Commission / UKTI: June/July 2012 British High Commision News

From Left: British High Commissioner Antony Phillipson, Foreign Secretary William Hague and Singapore Prime Minister Lee Hsien Loong

The Foreign Secretary has long been an admirer of Singapore – he called it “a hub of ideas and enterprise.”

William Hague also quoted Sir Raffles in his speech, who wrote of Singapore in 1819 “here is all life and activity; and it would be difficult to name a place on the face of the globe with brighter prospects.” It is this hub element which we at the High Commission are seeking to make more of in the way that we organise our teams both here and in the region. We’d like business to see the BHC as a “one-stop shop” for any of your activity in the region that might need our assistance. We’re keen to build more strategic relationships with those of you who have your regional headquarters here and to improve our offering in terms of briefings on the opportunities in the region, and also cooperation with Singapore into third-party markets. You’ll be hearing more from me on this. But, we want to hear from you which are the issues and countries where we can provide insights and add value – in addition to Burma, about which we know many of you are thirsty for information and advice.

Coming back to William Hague’s visit, he had the chance to talk to some business leaders about what concerns you and how we can help. Various regional issues arose ranging from the need to do more to promote the UK, to tax issues, to the protection of intellectual property rights. We will be following up on these. On the last, I’m pleased to let you know that we hope soon to have an officer at the British High Commission here in Singapore dedicated to helping you with intellectual property issues you may be facing across the Southeast Asia region. William Hague also held bilateral talks with Singapore Prime Minister Lee Hsien Loong and the acting Foreign Minister Lui Tuck Yew. In these meetings it was clear that there is far more that we agree on than we don’t. More importantly, where there is a difference of emphasis, we understand each other’s position all the better for taking the time to listen. In addition to William Hague, we also enjoyed a brief visit by the British Prime

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William Hague with Singapore Minister for Transport and Second Minister for Foreign Affairs Lui Tuck Yew

Minister David Cameron on 13 April. I couldn’t mention that in last month’s edition of Orient, mainly because we didn’t know about it! Minister Cameron was making a planned visit to Japan, Indonesia and Malaysia, but was keen also to visit Burma, once the important byelections there had passed off peacefully and fairly. We were the lucky beneficiaries of extra time which Minister Cameron was really keen to spend in Singapore with Minister Lee. Burma featured in their conversation, unsurprisingly. Also Minister Cameron and PM Lee both expressed their support for the rapid conclusion of an EU-Singapore FTA which would set the bench mark for ASEAN. The UK-Singapore Economic and Business Partnership also came up as the

vehicle for furthering educational links and for helping high-tech British SMEs succeed here – and to use Singapore as a springboard into Asia. The two leaders discussed the troubles facing the world economy, and the Eurozone in particular. Once again, the mood was one of friendship and shared values, as well as the importance of building on the relationships across the range of our bilateral activity. It put me in mind of Polonius, advice to Laertes in Hamlet: “Those friends thou hast, and their adoption tried, grapple them to thy soul with hoops of steel!”

About the Author Judith Slater Deputy High Commissioner Director of Trade and Investment

* The full text of Secretary Hague’s ‘Britain in Asia’ speech is available at http://www.fco.gov.uk/en/news/latestnews/?view=Speech&id=758382282 Find us on the web: http://ukinsingapore.fco.gov.uk/ http://twitter.com/UKTI_Singapore http://facebook.com/UKinSG

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At The Chamber

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Dear members, It is that time of the year again when everyone is preparing for the summer holidays. Before you start your deserved breaks, I’d like to give you an update of our recent and upcoming activities and programmes. Many of you may have joined us at our AGM on May 10th, where President Steve Puckett and Treasurer David MacDonald reported about the Chamber’s development and growth despite the continuously challenging and rather uncertain times. Business in Singapore is benefiting from strong trade relations in the region and as such appears to be only mildly affected. Our recently conducted membership survey shows that 84 per cent are optimistic about Singapore’s short-term economic growth. For the full report please look at page 52. Roman Scott, who stepped down from the board due to increasing business commitments in Sri Lanka but continues to be our Economic Spokesperson, will give his Economic Briefing on the 16th of October. I believe this is going to be a highly anticipated presentation and discussion. Mark your calendar! Singapore is hosting the 8th BiSEA (Britain in Southeast Asia) conference on 30th and 31st of August. The programme is currently being developed and all members will have multiple opportunities to meet delegates from the British Chambers in Brunei, Cambodia, Indonesia, Malaysia, Indonesia, Philippines, Thailand and Vietnam. We hope to be able to also include representatives from Burma. Brigitte Holschneider Executive Director, British Chamber of Commerce

If your business can demonstrate excellent development and achievements in areas such as Customer Service Excellence, Innovation in Business, Inspirational Creativity or any of the six other categories in our 13th Annual Business Awards, please consider nominating them by stepping forward and shouting about it. The Business Awards supported by EDB, SPRING, SBF, EuroCham, UKTI, the BBC and the Straits Times are the ideal platform for exposure and recognition. You’ll find the full brief of how to go about it under www.bccbusinessawards.com. For any personal advice or questions you may have please contact board member and Committee Chair Emma Boyd or speak to Tiffeny Kua from the Chamber team. The British community, supported by many of their Singaporean business partners and friends, recently participated in various events celebrating HM Queen Elizabeth’s Diamond Jubilee. This magazine is partly dedicated to this momentous occasion reflecting on her 60 years on Britain’s throne. The Chamber is going to publish an exclusively designed coffee-table book to commemorate the Diamond Jubilee. Scheduled for a September 2012 release, this book will trace The Queen’s life and reign, picking out the key events, in particular those which have shaped the development of Singapore, and the Britain-Singapore relationship. The book will also feature the development of the ‘Best of British Business’ in Singapore over the last 60 years. A copy will be presented to Their Royal Highnesses the Duke and the Duchess of Cambridge during their visit later this year. Many members have already contributed, either through content or sponsorships or both. Please contact Vipanchi Dinavahi if you wish to be part of this special project. Thank you for the encouraging comments on Linkedin about the modernised Orient magazine. The team at Novus Media Solutions and the Chamber worked to put this new look together. We will continue bringing the best to our all our members. A very happy and relaxing summer wherever you are going to spend it. Kind regards

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At The Chamber

BritCham Annual General Meeting 2012 The British Chamber of Commerce AGM was held on Thursday 10 May at Eden Hall, the British High Commissioner HE Anthony Phillipson’s residence, with 59 members attending. HE Mr Phillipson welcomed members and guests sharing Britain’s focus on Asia and referred to the recent visit of the British Foreign Secretary William Hague. BritCham President, Steve Puckett, presented highlights and achievements from 2011 in his President’s Report leaving members with the key message that the Chamber continues to develop, grow and enjoy success.

The Chamber’s treasurer, David Macdonald, gave his summary report on the financial position at the end of 2011, revealing that the Chamber is in excellent financial health with a robust cash position and multiple revenue sources. For all members who were unable to join the AGM, here is a summary of the President’s Report:

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President’s Report Highlights and achievements 2011: • Continuous and sustainable membership growth • Active and engaged committees and business groups • Diverse and busy events programme à 65 events/4,300 attendees • Rebranded Business Awards supported by EDB, SPRING, SBF, the Straits Times and the BBC • Further enhanced website à 25 per cent increase in traffic • Investment in relocation to a bigger office adding services for members – Hot desk and small meeting room for member’s use – Sizeable boardroom for in-house briefings and events • Excellent relationships with sponsors, both existing and new – All 2011 agreements have been extended in 2012 • Enhanced and productive working relationship with UKTI and the BHC • Chamber CSR guidelines published • Business process and governance review conducted by KPMG • Capable and enthusiastic management team • Resourceful, committed and active board

• Strong financial position maintained • Excellent track record in member acquisition – 40 new members in Q1 • Low attrition rate, growing member loyalty • Good traction in events, particularly Leaders in business lunches • A new Gold Sponsor – Cognita • Modernised Orient – added value for members who contribute and/or advertise • The 3rd Chamber Rugby Dinner on 7 June • Step up for the Business Awards with the Straits Times as exclusive media partner and the BBC as supporting organisation • BiSEA (Britain in Southeast Asia) conference in Singapore end of August • September publication of Diamond Jubilee commemorative coffee-table book • Membership Survey conducted in April and just published The presentation, the full set of accounts, the minutes of the meeting and the membership survey are available on the website www.britcham.org.sg

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At The Chamber

BritCham Board Members 2012/13

Steve Puckett Managing Director – Tri-Zen International

PRESIDENT

Hugo Walkinshaw Principal – Deloitte Consulting SE Asia

Andrew Vine Managing Director – The Insight Bureau Pte Ltd

VICE PRESIDENT

David Macdonald Principal Officer & Head of Sales Asia – Skandia International

Damian Adams Partner, International Corporate Group – Watson, Farley & Williams LLP

TREASURER

SECRETARY

Peter A. Allen Group Managing Director – Pacific Century Regional Developments

Richard Burn Corporate Relations Director, Diageo Asia Pacific – Diageo Singapore Pte Ltd

Andrew Thomas Managing Director, Public Relations – Ogilvy & Mather Singapore Pte Ltd

Emma Boyd Director, Client Relationships & Business Development – Pinstripe Business Solutions

Pek Hak Bin Country President – BP Singapore Pte Ltd

Ingrid Child Chief Risk Officer, HSBC Bank

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Caroline Bagshaw Regional Head, HR, Singapore & South East Asia – Standard Chartered Bank

Dominic Nixon Senior Partner & Head of Financial Services Industry Practice – PricewaterHouseCoopers

Andrew Jones Managing Director, Co-Head Of Global Finance & Risk Solutions, Asia Pacific – Barclays Bank PLC

James Deely Chief Operating Officer, Asia-Pacific – The Royal Bank of Scotland

Nick McGlynn Regional General Manager SE Asia – British Airways

Neil Montefiore CEO – StarHub Ltd

Paul O’Neil Director, Seletar – Rolls-Royce Singapore Pte Ltd

David Pugh General Manager – The Fry Group

Judith Slater Deputy High Commissioner – British High Commission

Mark Howard Director – British Council

EX-OFFICIO

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At The Chamber

Membership Survey 2012 Satisfaction BritCham Satisfaction withwith BritCham

Current Future Economic Current andand Future Economic Outlook

Improvements are seen throughout all membership types since 2010, except a slight decline for Sterling Additional.

Most businesses are generally not affected by current economic conditions and are optimistic about future economic growth in the next year

Satisfaction with BCC’s ability to meet expectations when joining or remaining a member [based on Good (4) + Excellent (5)]

100%

Up 31%

Up 37%

Up 14%

2012

Up 22%

Up 19%

Up 1%

Outlook

Q. Is your Singaporean business affected by the current economic conditions?

Not Affected: 68%

Down 5%

13%

15%

11%

10%

Affected: 32% 19%

10%

9% 2% 3%

90% 80% 70%

2012

60%

2010

50% 40%

1. Not Affected At All 2012

2012

2010

2010 2010

30%

2012

2010

(Excludes No Opinion and Don’t Know)

10. Significantly Affected

Q. How optimistic or pessimistic are you about Singapore’s future economic growth in the next 12 months?

2012

84% are optimistic

20% 10% 0% Corporate Additional

Corporate SME

Corporate Plus

Sterling

Corporate Plus Additional

Corporate Rep. (Voting)

Sterling Additional

Question: A6, n = 150

n order to ensure Chamber members’ satisfaction, we conduct a biennial survey to better understand your needs and satisfaction and to invite constructive input. If you participated in the recent 2012 survey, thank you; we very much appreciate the time you took to respond and for the feedback and suggestions you gave. In summary, general satisfaction with the Chamber services has improved over the past two years, mainly in the area of events frequency, diversity and content. Networking remains the most important reason for members to join. However, we strive to improve further and we received feedback from members wishing to attend more tailored events, to enjoy more structured ‘matchmaking’ to bring people together with the specific purpose of doing business. We

Economic sentiments indicated exclude global economic factors/context – the global economy has been forecasted by economists to grow at a slower pace. 11

have taken this suggestion on board and aim to integrate it into our future programmes. Following this formal survey, we also plan to conduct more focused surveys to further investigate areas that members wish to see more traction and get more involved with. The Orient magazine is seen as a valuable tool for members to get updates about what happens within the Chamber network. As you will have probably noticed, we have upgraded both the content and the look and feel of the magazine, with a new design to increase its attractiveness and value to contributors and advertisers. Traffic on the Chamber website has significantly increased with more than 80 per cent of members now going there for event information and bookings.

Question: A30, A31; n = 150

Business Groups are now seen as an important vehicle for members to engage and they actively contribute to the events calendar. Of our members, 72 per cent say they are aware of business group activities. An area for development will be to connect the remaining 28 per cent of members who are not yet aware of this activity and to further develop the existing involvement with the various groups. In particular, our Professional Services group is now working on a strategy for BCC members to target businesses in the UK who require additional support beyond that offered by UKTI so that they can expand into Asia-Pacific region. We will keep you informed of these developments. At the end of the survey we asked about a short to mid-term economic

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Membership Survey 2012 – Report summary:

outlook for Singapore. The feedback revealed that 84 per cent of respondents are generally optimistic and 68 per cent are not affected by the current economic conditions. The most pressing issue relating to doing business in Singapore remains access to talent. We believe we will be equipped to address and assist in this area with our newly created Leadership Group, due for launch very soon.

• Main reason for joining the Chamber remains networking • Member satisfaction increased compared with 2010 survey • Main drivers are events, particularly content-related • Areas for improvement: – More time for networking – Proactive matchmaking, particularly for SME’s – Provide useful business information and updates • 72 per cent of members are aware of the Business Groups • Business Groups provide highest perceived value in actively contributing towards the events calendar

• 81 per cent use the website to seek event info • The Orient is the most valuable tool for members to get an update about what happens in the Chamber The membership survey is available for members only on the website www.britcham.org.sg

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Indonesian Upstream Oil and Gas - Outlook and Challenges March 22, 2012

Jim Taylor - President and General Manager, ConocoPhillips Indonesia and President of Indonesian Petroleum Association

Banking ‘Banana Skins’: the slippery slope of the banking industry and its future April 12, 2012

Dominic Nixon - Asia Financial Services Leader, PwC LLP Singapore (left) and Chris Matten - Partner, PwC Singapore (right)

At The Chamber: Breakfast Clubs

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Is the Asian Residential Real Estate heading for a Crash in 2012? April 25, 2012

Tim Murphy - Chief Executive Officer and Founder, IP Global

Boris vs Ken: the London Mayoral Election & recent coalition headaches â&#x20AC;&#x201C; what next for UK politics? May 8, 2012

Iain Anderson - Founding Director and Chief Corporate Counsel, Cicero Group

The BritCham Breakfast Club is proudly sponsored by:

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At The Chamber: Leaders in Business Lunch

Leaders in Business Lunch - Delivering results: growth and value in a volatile world April 23, 2012

Lunch with Sir Alan Collins KCVO CMG

The Chamber presented the “Lord Sebastian Coe-British Chamber of Commerce Dream 2012 Award” to Olympic hopefuls – swimmer Tao Li and paddlers Pang Xue Jie and Isabelle Li to show support for students who are determined to realise their dreams of becoming top athletes and reflect the bond formed between Singapore and the UK for the 2012 Games.

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Leaders in Business Lunch with The Lord Mayor of the City of London May 25, 2012

The first ever Mansion House Scholarship was awarded to a Singaporean student â&#x20AC;&#x201C; Justin Keh who now works for the Monetary Authority of Singapore

The BritCham Leaders in Business Lunch is proudly sponsored by:

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BritCham Country Briefing - Doing Business in Indonesia May 15, 2012

Representatives from UKTI, BritCham Indonesia, HSBC, The Indonesian Investment Promotion Centre (IIPC) Singapore

BritCham Country Briefing - Myanmar: The next frontier? May 22, 2012

Jeremy Hodges, Deputy Head of Mission, British Embassy in Rangoon, Myanmar

Sumana Rajarethnam - Senior Analyst, Asia , Economist Intelligence Unit

At The Chamber: Other Events

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BritCham Economic Briefing with Dr Tan Kee Wee April 17, 2012

The BritCham Economic Briefing is proudly sponsored by:

Dr Tan Kee Wee - Independent Economist

BritCham Pure Networking Evening Series April 11, 2012

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Business Group Working Lunch: Clearing the skies for Cloud Computing March 30, 2012

Ho Wah Lee - Head of Advisory, KPMG

Productivity and Innovation Credit Scheme and Budget 2012 Highlights for SMEs May 4, 2012

Joan Fuan â&#x20AC;&#x201C; Tax Specialist, IRAS

At The Chamber: Other Events

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2012 BritCham Events: Mark Your Diary

At The Chamber

BritCham Breakfast Club July/Aug Thursday 19th July 2012 Tempest in an Oasis? Wednesday 22nd August 2012 The New Landscape - How to Manage Your Suppliers from China

BritCham Leaders in Business Lunch Tuesday 28th August 2012 Magnus Bocker, CEO of Singapore Exchange

Special Event Thursday 2nd August 2012 The Planning and Urban Design of Marina Bay & MBFC, CBD & Tanjong Pagar

YBC Business Tour Thursday 23rd August 2012 YBC Business Tour to the Port of Singapore, The Worldâ&#x20AC;&#x2122;s Port of Call

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BiSEA Conference Thursday 30th August 2012 to Friday 31st August 2012 Meet delegates from the British Chambers in Brunei, Cambodia, Indonesia, Malaysia, Indonesia, Philippines, Thailand and Vietnam

F1 Networking Thursday 20th September 2012 Singapore Cricket Club

13th Annual Business Awards Gala Dinner Thursday 4th October 2012 Island Ballroom, Shangri-La Hotel

Economic Briefing Tuesday 16th October 2012 By Roman Scott, BritCham Economic Spokesman

BritCham Ball Saturday 1st December 2012 Island Ballroom, Shangri-La Hotel

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At The Chamber

BritCham New Members Sterling City Developments Ltd Reed Personnel Services Pte Ltd RICS Rolls-Royce Singapore Pte Ltd

Leng Joo Kwek Deepali Chaturvedi William Jones Paul Oâ&#x20AC;&#x2122;Neil

Sterling Additional Allied Pickfords (S) Pte Ltd

Ian Johnson

AngloINFO Singapore BBC World (Singapore) Private Ltd BP Singapore Pte Ltd British American Tobacco (S) Pte Ltd BT Singapore Pte Ltd City Developments Ltd Clifford Chance Pte Ltd Deloitte Consulting SE Asia Dulwich College Faithful+Gould Pte Ltd

Adam Clark Maekail Hyat Bawkher Jeanne Leong Michael Rees Sukesh Singh Sunita Rajan Amit Sharma Chee Kian Sim Andrew Rowlands Connie Chan Oi Yan Elizabeth Seah Jeroen Both Yuen Lin Ong Allan Tseng Daniel Colin Fidock Harriet Wood John Ryan Phil Swallow Sanjay Yadave Seb Hills Ann Nee Goh Annie Abraham Anthony Chia Chui Mui Foo Cindy Tan Corinne Yap Eik Sheng Kwek Kah Chuen Ho Lynette Lee Natalie Lim Ngiang Hong Chia Seng Chee Tan Paul Landless Aditya Agarwal Andrew Grimmett Jeff Pirie Sanjay Sharma Kelvin Yue Kar Meng Alisdair Gillies Bala Vijayasingam Belinda Wong Billy Fong Christie Chua Colin Bird Jesse Low Kim Chia

Faithful+Gould Pte Ltd Garner International (S) Pte Ltd Hays Specialist Recruitment Pte Ltd HSBC Bank Intro International Pte Ltd IP Real Estate Investments Pte Ltd Lloyds of London (Asia) Pte Ltd Oil Spill Response Ltd PricewaterhouseCoopers Prudential Assurance Company Singapore (Pte) Ltd

Salman Younus Sim Yee Tan Steve Gilham Tony Chan Vocus Koe Marc Howard Daniel Maglietta Lester Qin Liying Lim Matt Kerr Pearly Ng Ian Milne Loo Lin Chua Penny Quek Permada Darmono Theresa cheng Yati Malek Benjamin Willsher Alethea Seow Brendan Warner Carolyn Wild Chen En Ling Chris van Gend Colin Robinson Diane Chong Hafiz Bin Zakaria Hui Zhi Pek Ian Craigs Itono Hakim Jamie Chambers Jennifer Davies Jun Er Kevin Leung Li Lin Kea Matthew Cannock May Hleileh Minghui Huang Olga Wong Pearlyn Goh Robert Elliott Robert Knight Sam Drury Sarah Ching Simon Moi Simon Taylor Winston Chua Geeva Varghese Gemma Benns Joselito Guevarra Sheau Jiun Teo Wan Jiuen Lau Gareth Morgan Jaykumar Shah Julia Leong Pei Kian Chong Zaheer Minhas Chor Lin Tay Lionel King

RICS Rolls-Royce Singapore Pte Ltd Sea Consortium Pte Ltd Standard Chartered Bank

Alex Voss Andrew Jessop Andrew Kwok Tsung Wah Gordon Clark Jeremy Rowbury Julia Chapman Keng Hua Chua Martin Duckett Min Hui Saw Nicolas Moossa Peng Chuang Chia Richard Dunster Shaffick Ghaseeta Shivraj Swami Stephanie Chin Thomas Clark Christopher Paul Davie Duncan Cooper Hamish Thomas Stuart Guthrie Kwee Poh Sim Adeline Chia Adrian Foo Adrian Teo Alex Zarate Alvin See Chor Yau Amit Punjabi Anish Lalchandani Anna Ang Anna Smola Annapoorna Thomas Anthony Sim Antonio Smania Arjun Chib Audrey Liew Benjamin Arnott Bernard Liao Candice Loo Caroline Bagshaw Christy Riedlinger Cindy ShiJeong Kim Claire Hua Clement Shen David Baldry Dennis Hee Desmond Soh Douglas Isles Eden Britt Ee Poh Ong Elaine Boey Emma Duncombe Felicia Heng Florence Leow Gerald Wang Helen Roberts Hew Gill Ian Massey Jie Ding Jit Seng Oon

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Standard Chartered Bank Jordane Rollin Joshua Ho Junyi Kuah Karan Kapoor Karthik PJ Kelvin Bwalya Kevin Lim Li Liu Li Yen Chan Libby Potter Lip Fah Chong Lizbeth Plagnol Loh Tin Ng Manish Gupta Marc Leaver Marcus See Wei Chia Mark Dymock Maxime de Guillebon Md. Masrur Rahman Khan Monisha Michael Mun Loong Ho Murali Akella Neha Agarwal Nicole Ringor Noorullah F Olaf van Duijnhoven Parthasarathy Seshagiri Pramod Vuppalapanchu Prasitha Kesavan Preesuda Kuansupa Rajesh RK Rajesh Surendiran Rakesh Ramanujam Ram Gopalakrishnan Ramesh Ponnambalam Ravi Abusaria Rebecca Port Rhidoi Krishnakumar Ronit Maitra Ruchika Sharma Sabine Oudart Sadhan Mukherjee Saier Hu Samantha Rich Sander Dinsbach Sanju Kaul Sarah Abdullah Sarbjeet Atwal Shankar Narayanaswamy Sharat Menon Shehani Sams Shikhar Jain Shilpa Sanyal Shirish Wadivkar Sook Yee Liew Sreeram Kumar Steven Glover Suan Chin Ong Trishal Doshi Valerie Tay Vernon Goh Vijay Agarwal Vishal Choraria Wee Pheng Koh Woonyee Koh Xixi Li Yan Ling Wong

Standard Chartered Bank The Royal Bank of Scotland plc

Ying Ying Low Yueng Yee Ng Zheng Yu Gong Zhi Wei Melvin Deng Zong Xuan Seah Alban Louvet Jasmine Chng Junaid Iftikhar Manfred Schmoelz Patricia Choo

Corporate Plus Corporate Research and Zafar Anjum Investigations Pte Ltd ISG Asia (Singapore) Pte Ltd Alison Risk Societe Generale Ashley Wilkins

Corporate Plus Additional Bartle Bogle Hegarty Lindsey Cummings Asia Pacific Rachel Filer Berwin Leighton Paisner LLP Aaron Jones Ken Cheung Kent Phillips Manoj Purushothaman Marius Toime Tahirah Ara Maisun BW Furniture Pte Ltd Shawn Eng Coutts & Co Ltd Ashley Semmens James Dellborg Joanna Carman Sarah Smith Zoe Allard Expat Insurance Alison McElwee Sarah Matthews Vanessa Whitmore Global Financial Consultants Brian Gillies Pte Ltd James Booth James Kniveton July Pinilla Grass Roots Asia Pacific Colin Ng Kate Sibbett Grayling Asia Pte Ltd Debbie Pereira Jake Ho Joy Loh Kenny Yap KPMG LLP Nigel Robinson Mazars LLP Alan Gazielly Reading Room Mark Kelly Maurice Quek Rothschild (Singapore) Ltd Alexander Baker Barry Leeahtam Joey Chiam Societe Generale Andrew Aik Anthony Lavery Olivier Godin Stephanie Clement de-Givry Stephen Krust The Fry Group Ellinor De Groote Ian William Horsburgh Paddy Flynn

Corporate Barclays Bank PLC Cable&Wireless Worldwide (S) Pte Ltd Cicero Group Citystate Real Estate Pte Ltd Colliers International

Andrew Jones Philip Lewis Jessie Wang Patrick Grennan Nina Davies

Frasers Hospitality Pte Ltd Grand Hyatt Singapore GreatNewPlaces.com Institute of Chartered Accountants in England and Wales Jones Lang LaSalle Lodestone Management Consultants Pte Ltd New World Capital Pte Ltd Pan Pacific Orchard Regus Shangri-La Hotel Ltd Standard Merchant Bank (Asia) Ltd Stephenson Harwood United World College of South East Asia

Cherie Tan Miriam Varoli Robbie Hoyes-Cock Jane Broadfoot

Hannah MacDonald Benjamin Inglis Stephen Wise Prasanna Ogale Sanjay Kirpalani Justin Style Andrew Tull Nicholas James Berry Michael Curtis Crabb Joel Shen Frazer Cairns

Corporate SME ATR Associates Pte Ltd Ashish Raivadera City Golf Holdings Pte Ltd Chris Watson Developing Global Leaders Michael Hughes Asia Pte Ltd Icon Gallery Pte Ltd James Walton IG Markets Justin Harper Reed Hamilton Pte Ltd Dan Clements Securewest International John Howells Texel Asia Pte Ltd William Shaw Tree Islands Singapore Pte Ltd Hirotsugu Kijima

Corporate SME Additional eVantage Technology Pte Ltd Norbert Dy M3 Marine Group Pte Ltd Richard Meade

Overseas Corporate Iken Business Ltd Windsor Leadership Trust

Elizabeth Miles James McCalman

Individual Andy Sleigh Khalid Muhmood Marc Vuarchex Praveen Randhawa Tessa Chester

Anne Yap Lee Bagshaw Olivier Darrieux Richard Kimber Victoria Bates

Katherine Baker Leo Kirby Pat Burns Ryan Oâ&#x20AC;&#x2122;Neill Xerxes Medora

British High Commission Ian Turner

Julia Aziz

UK-ASEAN Business Council Tim Standbrook

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At The Chamber: Sterling News Over the past 12 years, AngloINFO has built a trusted global brand, giving reliable and relevant information to over 2.5 million unique users through 85 million pageviews a month. It operates in many regions around the world providing vital support and information to local and international communities, providing detailed day-to-day support to people living in a particular region. Besides Singapore, which

SINGAPORE

is one of AngloINFO’s key international regions, the firm is also launching a sister site in Kuala Lumpur in Malaysia in the near future and preparing its entrance into the Japanese and Chinese markets. Other regional sites include Thailand and Indonesia. www.angloinfo.com

ANZ announced today that it has signed a Memorandum of Understanding (MOU) with the Singapore Economic Development Board (EDB), becoming the first Australian bank under EDB’s partner “multipliers” scheme to attract businesses from Australia, New Zealand, Greater Mekong and the Pacific Islands to better leverage Singapore as a hub. ANZ Singapore Chief Executive Officer, Vishnu Shahaney, said: “We are honoured to partner with the Economic Development Board on opportunities to help businesses expand beyond their home markets. With the largest presence of any Australian bank in Asia-Pacific and a super regional focus, we have a natural advantage connecting businesses across markets.” www.anz.com

Cognita Asia Holdings Pte Ltd has officially launched a new company, Camp Asia. Camp Asia will operate holiday camps for children in Singapore from the ages of three to 14 throughout the calendar year. The holiday camps are tailored to the interests of the entire family, offering multiple styles of camps to suit each child’s particular interests and will be staged at The Australian International School. Camp Asia will form unique partnerships to offer programs unseen in the Singapore space, such as our Super Chef Camp with Celebrity Chef Emmanuel Stroobant. Camp Asia rolled out their first summer holiday camps from June 18 until July 18 2012. www.campasia.asia

The US Foreign Account Tax Compliance Act (FATCA), which became law in 2010, requires foreign financial institutions to provide detailed information about US account holders to the Internal Revenue Service. Failure to comply results in a 30 per cent withholding tax on US-source passive income and the sales proceeds from US security dispositions. FATCA’s central purpose remains simple: to identify US taxpayers who hold financial assets in non-US financial institutions and other offshore accounts, so that they cannot avoid their US tax obligations. Despite its simple purpose, FATCA implementation will not be an easy task as it requires changes to systems, operational processes, and customer relationships; however, achieving compliance is a manageable task and can be done efficiently. For more information, please visit http://www.deloitte.com/ view/en_US/us/Services/tax/by-issue/fatca-resource-library/index.htm

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DHL received the Product Excellence Award at the 4th Annual Global CSR Awards 2012 for its efforts in minimising the environmental impact of shipping goods globally with its GOGREEN service introduced in 2006. In 2010, DHL sent 1.7 billion GOGREEN shipments across all business units and offset around 82,000 tonnes of CO 2 for its customers. DHL has also implemented other carbon efficiency measures for its buildings, vehicles and aircraft. One such example can be seen in Vietnam where DHL will be replacing a portion of its fleet with 25 new fuel-efficient vehicles. It will also introduce a new eco-driving training programme there that will reduce fuel consumption by up to 10 per cent. www.dhl.com

Faithful+Gould is delighted to announce the promotion of Jesse Low, one of our Asia-Pacific region colleagues based in the Singapore office, to Associate Director. Jesse has been with Faithful+Gould for eleven years during which time he has played a key role within our industry team and more specifically within the pharmaceutical / biotechnology sector, delivering high-quality project control services to one of the world’s most respected pharmaceutical companies. On behalf of Faithful+Gould, we would like to extend our warmest congratulations and thank Jesse for his individual achievement and continuing contribution to growing our business in Asia-Pacific. www.fgould.com

HSBC has appointed Alexi Chan to take up the role of Head of Debt Capital Markets Origination for Asia, effective immediately. This will be an expansion of Chan’s current role within HSBC’s DCM team focusing on South and Southeast Asia. Chan has been instrumental in the development of HSBC’s fully integrated multi-product DCM platform in Asia, a leading player across both the G3 and Asian local currency markets. He has been involved in many groundbreaking transactions, including the first ever international bond issue from Sri Lanka, the first ever global Islamic Sukuk from Indonesia and the largest ever corporatehybrid perpetual in the Singapore dollar market. www.hsbc.com

According to the RICS Global Commercial Property Survey Q1 2012 published on 1 May 2012, most of the global markets have seen improved sentiment in the real estate sector, with a mixed picture across the Asian market. According to the survey results, respondents have upgraded their expectations in both the occupier and investment markets in an increasing number of countries. In Singapore, the outlook for rental, investment and capital values has been a little downbeat. The occupier demand has remained relatively negative in Singapore, while that in Malaysia has been more upbeat in comparison as available space has picked up at a faster pace than seen in the previous quarter. www.rics.org

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At The Chamber: Sterling/Corporate News On 15th April, IP Global launched in Singapore the prestigious New York, Upper East Side project: 515 East 72nd Street condominium. Ideally located within walking distance of Madison Avenue and offering views of Downtown Manhattan and the East River, 515 East 72nd Street is the perfect balance of home and the ultimate getaway without the hassle of going away. This 330-unit condominium, 41-storey retreat offers luxurious studio — four bedroom featuring expansive floor plans and large wrap balconies with abundant natural light. Residents enjoy exclusive access to the onsite Elements Spa, fitness facility with a 56-foot indoor pool, a 20,000 squarefoot private park, a children’s playroom, rock climbing wall, basketball/squash court. The sophisticated finishes and interiors were designed by Bonetti/Kozerski Studio, renowned for envisioning modern luxury retreats for Donna Karan and Andre Balazs. Investors could look out for: • Full condominium conversion from luxury rental property building completed in 2009 • High-specification development with five-star amenities including private resident’s ½ acre park • Yields up to 6.5% gross For more information, visit www.ipglobal-ltd.com/property-portfolio/, call 6224 1992 or email info@ipglobal-ltd.com

Standard Chartered, the main sponsor of Liverpool FC, will replace its logo on the team’s home shirts with the logo of ‘Seeing is Believing’, its global initiative aimed at tackling avoidable blindness. Liverpool FC will wear the limited edition shirts when they play Chelsea, in their final home game of the English Premier League season. This will be the first time that Liverpool FC has displayed the logo of a charitable initiative on the front of the team’s shirt. The limited edition shirts will be signed by the team after the match and offered to fans across Standard Chartered’s network to raise money for ‘Seeing is Believing’. Every dollar raised will be matched by the bank. www.sc.com

Scott Vickers Pte Ltd, a member of the Scott Vickers Group, has recently appointed UK-based Wheelwash Ltd as their sole distributor to market the CLEARTEC construction site wastewater treatment equipment. The Agreement covers not only the UK market but also North America, selected EU and South American countries. Scott Vickers has been producing the CLEARTEC equipment for several years and has successfully supplied the units on to construction sites in Singapore, Malaysia and Australia. With an ever-increasing worldwide need to conserve our natural resources, CLEARTEC can provide instant, continuous, clean, non-potable water from silty influents, which can be stored and used as required for many industrial applications. www.scottvickersgroup.com

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After the announcement of an acquisition of Don Thaker Group in Singapore, OCS has expanded into the Middle East by entering the Qatar market. An official launch was held on 1st May 2012 highlighting a joint venture partnership with Tadmur Holding, the highly regarded and respected brand in Qatar. This collaboration paves the way for over 80 facilities services that uphold international standards to be made available in Qatar. The partnership brings the number of countries OCS operates in to 30 worldwide. www.ocsinternational.com

For UK-based companies looking to flourish overseas and expand operations in Asia, there is now a fresh growth strategy that finds routes to market. Taylor Vintersâ&#x20AC;&#x2122; Office in a Box Asia product has helped UK companies, expand into Asia by providing the essential elements needed to get started. The package includes market entry report, creation of a subsidiary corporation, employment, intellectual property, introduction to tax advisors, office lease, immigration, and access to resources for administrative fillings. With offices in Singapore, London and Cambridge, leading law firm Taylor Vinters is strategically placed to explore methods for global expansion and market entry into Asia. www.taylorvinters.com

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At The Chamber: Corporate News Air Energi Group is pleased to announce the opening of its latest office in the region on Geoje Island, South Korea. Air Energi is a leading global manpower services company operating specifically in the oil and gas sector. The new office in South Korea is in addition to current Asia-Pacific offices in Singapore, Thailand, Malaysia, Indonesia, Vietnam, and Japan. Air Energi Group is headquartered in Manchester, UK and deploys over 1700 contractors in over 50 countries worldwide. Turnover is in excess of $350m. Singapore is the group’s AsiaPacific hub. www.airenergi.com Ambition, the leading global boutique recruitment business specialising in the Banking and Financial Services, Finance and Accounting, Sales and Marketing and Technology sectors, will be launching Ambition Academy in July 2012. “The Ambition Academy is an intensive six-week training programme designed for individuals with little or no recruitment experience. Having established ourselves at the forefront of specialist recruitment in Singapore, we need passionate and driven individuals to join our talented team and provide the best possible levels of service to our clients and candidates,” said Paul Endacott, Managing Director of Ambition Singapore. At Ambition we are committed to “building better futures” for our candidates, clients and our employees. www.buildingbetterfutures.com

From the forest-inspired chocolate wall to the textured white montage, Arup’s Singapore office was recently transformed into an edible art gallery for Penguin Pool, the firm’s global creative event series. “The launch of The Penguin Pool in Singapore cements the importance of aligning ourselves with like-minded individuals, who are similarly driven to push the boundaries and inspired by others out of their own circles,” said Nick Boulter, the local representative for Arup’s Design Council. Named after Arup’s ‘job number one’ back in 1935, The Penguin Pool is a global series of parties presented by Arup to inform, inspire and entertain. Singapore is the fifth city to host a Penguin Pool event following Sydney, London, Beijing and Hong Kong. www.arup.com

Watson, Farley & Williams LLP (“WFW”) is pleased to announce that it has strengthened its international practice in Asia with the arrival of Manik Verma to the Singapore office, as a consultant. Manik joins from the Singapore office of Norton Rose LLP. His practice includes a wide variety of shipping and offshore, project finance, infrastructure, coal and mining transactions with significant expertise in the Indian market. Chris Lowe, Partner and Head of the Singapore office, comments: “Manik is a very good and well known asset-finance lawyer and provides invaluable assistance to his clients. We are delighted to welcome Manik whose commercial and legal skills and experience will enhance our sector focus in Asia and, in particular, our reach into the Indian market.” www.wfw.com

Cartus Corporation, the leading provider of global relocation services, has launched CartusMobile, a mobile app that puts critical relocation-related information at the fingertips of its clients’ transferring employees. CartusMobile greatly enhances communications between Cartus, its client companies, and their transferring employees. With the new Cartus Mobile App, one is able to track the key elements of the relocation process, including features such as detail on the status of moves, ability to add contacts related to moves from the app directly to phone, and more. www.youtube.com/cartuscorporation

CMC Markets has launched the new Singapore 30. Reflecting the Straits Times Index, the Singapore 30 allows CMC Markets’ Singapore clients to trade the market closest to home. It is one of three new Asia-region index, Contracts for Difference Products (CFD), now available on the company’s revolutionary Next Generation platform. Other exciting additions include the Hong Kong China H-shares, similar to the Hang Seng China Enterprise Index, and the China A50, similar to the FTSE China A50 Index. Trading indices are perfect for traders who take a macroview to global economies without researching individual stock performances. www.cmcmarkets.com.sg

EC Harris Delivers Singapore’s Greenest Ever Building In 2011, EC Harris was appointed by Danish wind turbine manufacturer Vestas to provide project and commercial management services on the fit-out of their new office space in Singapore’s Mapletree Business City. This new office was recently awarded the LEED Corporate Interior (CI) Platinum certification, the highest credentials issued by the United States Green Building Council to facilities that meet testing sustainability guidelines. Until now, no other office in Singapore has received this accreditation, making the Vestas office the greenest corporate interior in Singapore and the third most sustainable facility in the world. www.echarris.com

ECO Gourmet Café has a new culinary expert. Executive Chef, Thiti Thammanatr has won multiple awards leading the hugely successful Tamarind Hill and NEO Tamarind restaurants in Kuala Lumpur, Malaysia. He is now reassigned by the company (Samadhi Retreats) to lead both culinary teams at ECO as well as Tamarind Hill in Singapore. Chef Thiti, vested with international experience and a deep knowledge of different cuisines will definitely add an edge to ECO’s menu. www.samadhiretreats.com

Fairmont Singapore and Swissôtel The Stamford are honoured to be appointed the Official Hospitality Partners for the 13th International Indian Film Academy (IIFA) Celebrations from 7 to 9 June 2012. This invaluable opportunity follows the successful hosting by The Fairmont Royal York, Toronto’s landmark hotel, who welcomed international delegates, fans and cinema royalty at the IIFA Awards 2011. www.fairmont.com

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At The Chamber: Corporate News Friends Provident International recently launched its Global Wealth Advance and Global Wealth Ultra regular savings plans which make it easier for investors to navigate uncertainty, protect themselves against day-to-day financial risks and build a better future by helping them to meet their long-term financial goals and maximise their benefits at different life stages. Its unique lifestyle investment strategy gives investors another tool to shelter them if the market crashes prior to the planâ&#x20AC;&#x2122;s maturity while still allowing some exposure to the growth potential of equity markets at no additional cost. For details, please visit www.fpinternational.com/singapore or speak to your financial adviser.

Business confidence is on the rise as companies seek smart ways to grow: Singapore businesses confidence has bounced back five Index points to 122 since September, according to the global Regus Business Confidence Index which surveyed 16000 businesses worldwide. The number of companies reporting revenue growth remained stable at 56 per cent, while companies reporting profit growth (50 per cent) increased 6 per cent. Mindful of the need to contain costs in the quest for sustainable growth respondents identified increased use of pay-as-you go business services (46 per cent), increasing flexible workspace (45 per cent) and a shorter supply chain (43 per cent) as the areas where companies could best make savings without damaging growth prospects. www.regus.com

Hallin develops new high-efficiency compact semi-submersible Derwent Hallin Marine, with its joint-venture partners Minnow Marine Projects Ltd and STX Canada Marine Inc., has developed a vessel offering greater operation flexibility and cost-efficiency in subsea services and well-intervention. It is also a lower-cost alternative to large MSVs and traditional semi-submersibles. The 85 metre compact semi-submersible has increased deck-space and accommodates up to 152 persons. It is comparable with 120 metre-plus vessels that have been built for the deepwater market. Motion characteristics significantly exceed that of similar length units. Unlike many traditional vessels, the new Hallin vessel is compliant with MODU regulations and guidelines. www.hallin.com.sg

Sage CRM v7.1 SP2 is loaded with new features and functionality delivering further flexibility. The software offers an enhanced user experience for customers to better manage their CRM solution for critical sales, marketing and customer service activities. The new release sees a host of new features including cross browser compatibility with Firefox, Chrome and Safari in addition to the standard Internet Explorer compatibility, enhancements to Mail Merge and Document Filing features and a new Library Management functionality. www.sageasiapac.com

Novus Media Solutions is proud to be responsible for the Orient magazineâ&#x20AC;&#x2122;s new design. Novus Media Solutions, started in 2009, has also recently revamped their website. Prospective clients can now get a clearer picture of the latest projects and achievements within Novus. For information on the team and the tailor-made services they provide, including content creation, digital design and ad sales, visit www.novusasia.com

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I.J. Martin & Co: The world’s first global coaching boutique is now in Singapore! Founded in Europe back in 1998, we opened our doors at One Raffles Quay in 2011 for ambitious Asian enterprises and APAC executives far from its headquarters. For Singapore businesses that want to be truly international, our global presence and multi-country leadership experience are invaluable. For regional executives in MNCs, our ‘business leader as coach’ model says that our coaches, all with Asian ‘hot seat’ experience like yours, are wellequipped to support your special leadership support needs. Call for a first discussion or email us at muetz@ijmartin.com. Tel. 6622 5506 www.ijmartin.com

Double Celebrations for the Ince Law Alliance: The Ince Law Alliance celebrated two very significant events in 2012. Ince & Co marked their 20th anniversary in the Lion City with a cocktail reception held at Eden Hall and attended by more than 300 guests from the maritime, insurance, banking and finance, energy and offshore and international trade industries. Ince’s alliance partner, Incisive Law LLC, a Singapore law practice, also celebrated a successful first year in March 2012. The strategic alliance has resulted in the Law Alliance being able to offer English and Singapore law advice on contentious and non-contentious matters from under the same roof. This is in keeping with the Law Alliance’s singular aim to provide the highest standards of legal service at very competitive rates. www.incelaw.com

Sometimes it is all about you. Applying for a place at UWC South East Asia is one of those times. We are looking for families who are as committed to our mission and values as we are. For students who will embrace the opportunities provided by our learning programme. No concerns about date of application. Simply apply and let us get to know you. Please contact admissions on +65 6775 5344.

www.uwcsea.edu.sg

UWCSEA Dover is registered by the CPE CPE Registration No. 197000825H Registration Period 18 July 2011–17 July 2017 UWCSEA East is registered by the CPE CPE Registration No. 200801795N Registration Period 10 March 2010–9 March 2017 051ADV-1112

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BritCham Facilities

Did You Know? As members of BritCham you can maximise your membership by utilising the following Chamber office facilities, at zero cost. Photography by Micheal Culme-Seymour

Hot Desk With Phone Line

Meeting Room

Cognita Board Room

Terms and conditions apply. Please call us on 6222 3552 to find out more.

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At The Chamber: Members’ Offers

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Members’ Offers

To find out more about our members’ offers, visit our website under Membership -> Members Offers.

British Airways Celebrate the Jubilee with double the discount! 10 per cent discount! British Airways is holding a sale and you can save even more with your exclusive 10 per cent BritCham discount. Offer is available on all airfares from Singapore in Business Class, Premium Economy and Economy to UK, Europe, Australia and North America. Visit our website under Membership > Members’ Offers for further details.

British Club The British Club is offering a 15 per cent discount (S$ 600) on one year membership deals* which retails at S$ 4,000 to members of the Chamber who are not yet members of the Club. Contact membership@britishclub.org.sg for more information.

City Serviced Offices 9 Raffles Place, Levels 57-58 Republic Plaza & Levels 17-18 Republic Plaza II BritCham members can enjoy a 10 per cent discount on virtual offices, meeting rooms, video conferencing facilities and secretarial services (subject to availability). To enquire call Annie Abraham on (65) 6823 1388 or email cityservicedoffices@cdl.com.sg www.city-servicedoffices.com

Tower Club 9 Raffles Place, Levels 62-64 Republic Plaza BritCham Members: Enjoy a complimentary six-week Trial Membership* at Tower Club, Singapore’s premier private business club, subject to a maximum of 50 trial memberships at any one time. Trial membership covers access to all facilities at Tower Club except Fitness Centre. Payment for F&B purchases (where applicable) is to be made via credit card. Enquiries: Maggie Heng at (65) 6737 3388 or email concierge@tower-club.com.sg www.tower-club.com.sg

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At The Chamber: Membersâ&#x20AC;&#x2122; Offers

CITYGOLF Save $500 off the membership fee at CityGolf. Experience tasty tapas, the finest whiskeys and a mesmerising city view, all whilst playing a round of golf on one of our six state of the art golf simulators. Join the exclusive Citygolf Personal Membership at a special rate of S$1,000 (usual rate S$1,500), limited to the first 50 BritCham members only. T&Cs apply. Please call +65 6536 4846 for enquiries and bookings.

Courts 5 per cent off electricals and 10 per cent off furniture. Please show membership card to obtain discount.

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 Damai Member for less than $10 a day.

Content

We are a Singapore-based content and communications company offering editorial, design, digital and a range of publishing services to companies around the world. Working across platforms and with multi-lingual skills, we will develop the right solution for your specific communications and content requirements.

Magazines & Books

Talk to us. Call Paul Coleman at +65 6220 2900 Digital

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www.novusasia.com

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Expat Living Free three month subscription to Expat Living magazine. Usual annual price $60 for twelve monthly issues plus five annual guides worth a total of $108 delivered to your door. Call +65 6259 0058 or email circulation@expatliving.sg to subscribe for a longer period or to sign up a friend.

Harryâ&#x20AC;&#x2122;s Bar 15 per cent discount rate for Chamber members when you present your membership card.

MC Corporate Services Pte Ltd MC Group of Companies offer you their comprehensive range of services at start-up prices for your company formation, corporate secretarial, business consultancy/accounting/ tax advisory needs with no hidden costs. You are assured of personalised professional services from our highly qualified and experienced directors. Members get to enjoy a special discount of 15 per cent off their regular rates. For more information, please visit www.mccorporate.com.sg. You can also contact them at +65 6222 8880 or email them at contact@mccorporate.com.sg.

MSIG Insurance (Singapore) Pte Ltd BritCham members can now enjoy 10 per cent off their new individual Prestige Healthcare policy purchased directly from MSIG Insurance (Singapore) Pte Ltd. Contact us today at +65 6827 7602 or service@sg.msig-asia.comand quote your BritCham Membership number to enjoy this offer.

Newsmag International Pte Ltd Weekend British Press â&#x20AC;&#x201C; The Complete Domestic Version Almost 50 per cent Discount! Save almost 50 per cent off Retail Prices for weekend subscription to Guardian Saturday/ The Observer and Times Saturday/Sunday Times (full domestic version with colour supplements and magazines).

Singapore Cricket Club The Singapore Cricket Club is offering Chamber members their special Term Membership (one year term) at a rate of $2,500 (usual rate $3,500). Contactsnow@scc.org.sg *offer available for BritCham members only

Your personal, spacious haven onboard We understand that true luxury means having the freedom to stretch out and unwind in privacy. So when you travel in First you can sink into a comfortable seat thatâ&#x20AC;&#x2122;s 60% wider at the shoulder and converts into a fully flat bed for a great nightâ&#x20AC;&#x2122;s sleep. Discover more at ba.com/first

Our new First is progressively being rolled out and is available on selected international flights from Singapore to London and Sydney.

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Culture & Lifestyle

Big Win for the British Dragon Boat Team

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Culture & Lifestyle: Big Win for the British Dragon Boat Team

Motivational words from our coach Jason Chen

ragon boat teams in Singapore took part in the first DBS-sponsored Marina Regatta on May 5 and 6 in the heart of Singapore, against the backdrop of Marina Bay and the financial district skyline.

For the first time, this high-profile event presented international and national teams with the opportunity to race over both 200-metre and 500-metre courses competing for prize money for overall team performances. That such an event was backed by DBS bank and attracted close to 100 local and international teams in its first year is testament to the growing interest in the sport of dragon boating in Singapore, and across Asia. National teams from Indonesia and the Philippines travelled to compete against the Singapore national crew, with the tertiary and local expatriate teams representing Britain, Ireland, Germany, Australia, the Philippines, Canada, Spain and America. All entrants took the race weekend equally seriously and performed at a remarkable level. For the British Dragons, in particular, it was an opportunity to take the next step and prove what their coach, Jason Chen, had long felt they were capable of achieving. Champions: a historic weekend for the British Dragons in the heart of Singapore On the morning of Monday 7 May, members of the British Dragon boat team realised a dream. After weeks of preparation, some intensive early morning training sessions â&#x20AC;&#x201C; referred to as GOOB (Get Out Of Bed) training â&#x20AC;&#x201C; in the days running up to the Regatta and some serious paddling, the British Dragons went on to win the event. They collected a silver medal in the Singapore International Community Mixed 200-metre category, a gold medal in the 500-metre category and a cheque for S$20,000 for the overall champion prize.

The British Dragons entered two 22 crew mixed boats in the Singapore International Community Mixed 200-metre and 500-metre category, and one 12 crew mixed boat in the Singapore Corporate Open 200-metre category. Day one was all about sprinting, and after winning gold in the Boat Quay Regatta in November 2011 over a 350-metre course, the team was keen to prove that they could be equally as effective over the shorter distance. The Brit 2 crew raced first in a tough opening heat against the Dragon Riders team from Hong Kong, the Spanish Armada, the German Dragons and AustCham 2, followed by the Brit 1 crew who faced the American, Filipino, Canadian and Gaelic Dragon teams. Both boats qualified for the semi-finals, with the Brit 2 boat going on to the minor finals and Brit 1 crew entering the grand final. The toughest competition came from the Filipino and AusCham teams, with the AusCham1 crew taking first place on day one with just a 0.09 second lead over the Brits who achieved a fantastic time of 0.53.26 and won nine points.

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Boating teams celebrating their win!

Whilst in the past making the final was the primary goal for the British Dragons, nothing short of gold was good enough this weekend. The team had trained for it, and knew they could achieve it. Day two dawned and the British Dragons were back at Marina Bay, focused and ready to give it everything over the 500-metre course. This is the length of race that best suits the team’s long, powerful maintenance stroke, and the work that had been put into improving the team’s starts and charge paid off. The Brit 1 crew was first out on day two, qualifying for the semi-finals with a time of 2.17.08 seconds. It was the Brit 2 crew, however, who put in perhaps the most memorable performance of the weekend, cruising through the heat with a clear lead and seemingly without the need for a final charge at all. The Brit 1 crew took first place in their semi-final heat with a time of 2.13.39, and lined up against the Canadian Dragons, AusCham 1 , Filipino Dragons 1 and 2, and the Gaelic Dragons in the grand final of the Singapore International Community

Mix. The teams and spectators alike knew it would be a closely fought race. The AusCham team was with the British Dragons all the way, but in the end the Brits did what they do best. The paddlers came together as a team, gave it everything they had and paddled for each other, for their captains and for their coach. They took gold, won much-needed funds for the British Dragon boat team in Singapore, but perhaps most importantly proved the power of training and teamwork. In praise of the event, the DBS Regatta website says, “As a sport that is uniquely Asian, dragon boating hinges on team spirit, coordination and excellence. It reverberates through cultures, and cements cross-border ties and relationships through friendly competitions.” With more than sixteen different nationalities making up the British Dragons, every member was committed to pulling together as a team before they even arrived at Marina Bay. Physically the paddlers were stronger – what’s

a 500-metre race when you’ve been repeating two-kilometre circuits at 7am in the morning, completing a day’s work and then tackling land training in the evening? Despite this, mentally, the team was stronger than it has ever been, more focused, and more determined. As agreed between the international dragon boating community in Singapore ahead of the race weekend, the prize money will be shared among the top three teams. The British Dragons will keep S$10,000, with AusCham receiving S$6,500 and the Filipino Dragons S$3,500. An enormous thank you and congratulations to all the teams in Singapore for a fantastic weekend of racing.

Further information about the DBS Regatta: http://www.dbsmarinaregatta.com For further information about the British Chamber of Commerce Dragon Boat team, — The British Dragons — or to join them, please visit: www.britishdragonboat.com

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Culture & Lifestyle

Out Of Order

Under the patronage of the British High Commissioner, HE Antony Phillipson and in collaboration with the British Chamber of Commerce, the British Theatre Playhouse opened its Singaporean run with a Charity Gala performance followed by a dinner where, HE President Tony Tan Keng Yam

For the Charity Gala Performance on 11 April, the British Theatre Playhouse had the privilege of welcoming the President of the Republic of Singapore, Dr Tony Tan and Mrs Tan as Guests of Honour.

and Mrs Tan were the Guests of Honour. This year’s charity went to The Business Times Budding Artists Fund which facilitates the arts training programmes at the Little Arts Academy at PoMo. A total of $80,500 was raised through the live and silent auctions. The non-stop laughter evening was both memorable and highly entertaining with Ray Cooney’s farce “Out of Order.” Ray says: “I’ve been involved with farce for over 50 years and I don’t think I could find any real satisfactory way of summing it up

heatrical farce has a history going back over 2000 years to the days of Greek and Roman theatre. It became popular in England through Shakespeare’s plays such as “Comedy of Errors” and “A Midsummer’s Night Dream” and continued its popularity through the days of Restoration Comedy in the 18th century and onto the present day with the brilliance of, amongst others, Alan Ayckbourn, Michael Frayn and Ray Cooney.

For those who came to see “Out of Order” at the Jubilee Hall Theatre, Raffles Hotel in April, we asked the writer Ray Cooney to write a short programme note about the genre of farce. This is what he wrote:

Some of the guests gathered to meet the President during pre-show cocktails

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or explaining it. A ‘comedy’ is supposed to be ‘a play with a happy ending’. I have a dictionary which describes ‘farce’ as ‘a style of comedy marked by broad humour and extravagant wit…’ and then goes on to say ‘a ridiculous or empty show.’ Now I don’t subscribe to that dictionary’s view at all. Some of Alan Ayckbourn’s plays may be fairly described as ‘farces’, but I don’t believe they are either ridiculous or empty. It’s easy to underestimate farce, partly because there are one or two not very good ones around, and because some actors, who should know better, treat the playing of farce in a different way to that which they might treat the playing of tragedy. Basically, I believe that the best farces are tragedies. The plot line in a good farce should be able to be transplanted into a stark tragedy. Tragedy is the essence of farce and even the dialogue of farce should be interchangeable with that of tragedy.”

If farce is more akin to tragedy, it would stand to reason that the more real, the more truthful the play and the performance, the stronger will be the audience reaction.

Culture & Lifestyle: Out of Order

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The British Theatre Playhouse teamed up with the British Chamber of Commerce for the charity event and raised $80,500 for The Business Times Budding Artists Fund

“Most tragedies have as their basic theme; the struggle of the individual against forces which are overwhelming, and the individual’s efforts to combat these forces as the tide runs stronger against him. In fact, the more I think about it, the more I feel that farce probably has more in common with tragedy than it has with comedy. Comedy is frequently about an eccentric person in an everyday situation, whereas farce (and tragedy) usually involve ordinary people attempting to deal with an eccentric situation. Therefore, if farce is more akin to tragedy, it would stand to reason that the more real, the more truthful the play and the performance, the stronger will be the audience reaction. Moreover, I suppose it’s easy to underestimate farce because the language appears mundane and ordinary. They are not intellectualising their predicaments. The farce writer manipulates the situation to suit his play. However, I’m

convinced that the playing must remain utterly sincere and truthful. Of course, the actor can only give a truthful performance if the writer has given him a character and relationships which will sustain the performance. Hence the writer, too, must be sincere and truthful even though the situations are manipulated to suit the ‘contrived concoction’.” Contrived concoction or not, the stellar cast obviously hit the nail on the head since we got to hear many kudos from the audience post the show. Personally, I saw the audience walk out with chuckles and smiles. When this happens, it makes all the effort worth it. We would like to thank our charity gala committee chaired by Andrew Thomas and all our sponsors, supporters, partners, cast, team and most important of all – the audience, for making this a huge success. I look forward to meeting you all at our next production. Until then, watch this space!

About the Author Cecilia Leong Faulkner has been involved in the service, creative and entertainment industry throughout her career. She and her actor-directorproducer husband John, founded the British Theatre Playhouse. She has worked

with many social causes and organises high profile charity gala events through the British Theatre Playhouse to help raise funds for the less fortunate. The British Theatre Playhouse is a professional theatre production company

The farce actor must learn not to ‘hold the ball’ too long. Farce acting is very much like a tennis match: You play better when your opponent returns the ball to you well.

incorporated in Singapore in 2004 but is internationally focused with a strong British connection, working very closely with established British playwrights, directors, choreographers, set and costume designers from the UK. The company has

produced a series of highly successful British productions in Singapore, Malaysia, Thailand, Sri Lanka and the UK.

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