Orient Issue 39

BRITCHAM ORIENT MAGAZINE

Orient

Building Networks Connecting Business Creating Opportunities WWW.BRITCHAM.ORG.SG

T H E O F F I C I A L M A G A Z I N E O F T H E B R I T I S H C H A M B E R O F C O M M E R C E - S I N G A P O R E ISSUE 39 / OCT–NOV 2012

SPECIAL FEATURE S

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ISSUE 39

ISSN 0219-1245

9 770219 124002

39

REFLECTIONS ON THE ROYAL VISIT 13TH ANNUAL BUSINESS AWARDS

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Contents

7

PRESIDENT’S MESSAGE SPECIAL FEATURES

15 35

Reflections On The Royal Visit 13th Annual Business Awards: Celebrating the Best in Business

FEATURE 11

Myanmar’s New Hope

BRITISH HIGH COMMISSION / UKTI 22 28

Tech City: UK’s Innovation Frontier Singapore And Malaysia: Co-operation in the Creative and Digital Space

AT THE CHAMBER 33

Executive Director’s Message

44

8th Britain In South East Asia (BiSEA) Conference In Singapore On 30 And 31 August

48 62

Events

66

Sterling News

74

Members’ Offers

Events Calendar

64

New Members

68

Corporate News

CULTURE & LIFESTYLE 79 84

The Need For Speed Under The Tuscan Sun

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

British Chamber of Commerce, Singapore Sponsors PLATINUM SPONSORS

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BRITCHAM BOARD: PRESIDENT: Steve Puckett: Tri-Zen International VICE-PRESIDENTS: Hugo Walkinshaw: Deloitte Consulting SE Asia Andrew Vine: The Insight Bureau TREASURER: David Macdonald: JOOL Capital Partner 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 Brandon Malone: The Royal Bank of Scotland plc Caroline Bagshaw: Standard Chartered Bank David Pugh: The Fry Group Dominic Nixon: PricewaterhouseCoopers Emma Boyd: Pinstripe Business Solutions Ingrid Child: HSBC Bank 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, Singapore 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: Hugo Walkinshaw 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 Accounts Manager: Sabitha Munnangi Marketing & Communications Manager: Vipanchi Marketing & Communications Assistant: Loong Yong En Events Manager: Tiffeny Kua Membership Manager: Katie Hudson Membership & Events Assistant Manager: 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.

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President’s Message

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

Dear Members, As the summer came to a close, Singapore welcomed two very special visitors in Their Royal Highnesses the Duke and Duchess of Cambridge. Prince William and Katherine graced Singapore on their first stop of the Tour of Asia to celebrate The Queen’s Diamond Jubilee. The Royal Couple delighted all as they paid tribute to The Queen’s lifetime of dedication to the varied mix of peoples that make up all of Her Majesty’s Realms and the Commonwealth.

The Tour took in a number of formal occasions, including that to the spectacular new RollsRoyce facility, and several less formal moments reflecting the personal interests of the Duke and Duchess that charmed and won the hearts of those they were able to meet. The first copy of our Diamond Jubilee commemorative book was given to the Royal Couple during their stay here.

This time of the year is always the busiest for the Chamber. Singapore, too, is becoming increasingly busy during these months, with visitors attending the myriad of conferences and business events that the city hosts. Late September here has become associated with the Singapore F1 Grand Prix, which again provided a wonderful showcase for the city and is now here to stay for at least another five years. The Chamber F1 networking party was held at the Tower Club with both race track artist Mark Dickens and the iconic race commentator Steve Slater sharing their experiences against the roar of the initial practice laps. Everyone enjoyed the great night, which has become a regular feature in our calendar.

Steve Puckett

President, British Chamber of Commerce

We are also seeing increasing visits from UK government officials and heads of business, reflecting the growing interest in the region. While Singapore has been the regular first stop for seasoned visitors, an increasing number of businesses new to the region are starting to arrive as the world looks towards Asia for growth and to Singapore for a centre of operations.

The relationship between British business and Singapore appears to be flourishing and it was against this background that we chaired this year’s meeting of the British Chambers across the Southeast Asia region. BiSEA, as it is known, has evolved into a cohesive group of organisations able to serve members across the region and provide links with the UKTI offices locally, similar to the links that work seamlessly for the Chamber here.

The 13th Business Awards in early October once again saw a large turnout as the flagship business event in our calendar. I thank our honoured guests this year, Minister for the Environment and Water Resources, Dr Vivian Balakrishnan; the UK’s Permanent UnderSecretary and Head of the Diplomatic Service, and the Foreign and Commonwealth Office and senior foreign policy adviser to the British government, Simon Fraser; and our keynote speaker Lord Chadlington, Chief Executive of Huntsworth plc.

The Awards this year had a record number of nominations and many new names among the finalists. Our Awards Committee oversaw the event, which were an evolution from the success of previous iterations, and Emma Boyd was once again the chairperson. The worthy finalists and winners were lauded in the media, with The Straits Times printing a special supplement to mark the occasion. The finalists and winners are to be congratulated on their success, and the many nominees to be thanked for their participation.

Finally, I wish to acknowledge and thank James Deely for his contribution to the Board over the past two years representing the Royal Bank of Scotland and to welcome Brendan Malone as a new Board member. My best wishes to you all as we move towards the end of the year and a reminder to book your table for this year’s Diamond Jubilee Ball, which promises to be something special.

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Feature

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

Myanmar’s New Hope Image by Oxford Royale Academy

T

he last 12 months have been an astonishing time for the people of Myanmar. Huge numbers of potential investors have arrived, all from many countries including those that had sanctioned the Southeast Asian nation. Sanctions are also being relaxed or lifted. But are things really that different now? And what can realistically be achieved in the near future?

This year has seen remarkable shifts in political positions both in Myanmar and the rest of the world. From a global perspective in recent years, there appears to have been a sea change, with pressure groups raising questions regarding the effectiveness of sanctions.

Experiences in Iraq, Iran, North Korea and Zimbabwe show that sanctions rarely seem to significantly impact the persons at whom they are aimed. It’s more likely that they have an indirect yet significant impact on the body of persons for whom sanctions were initially imposed: the poorer, disenfranchised sections of society.

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Feature: Myanmar’s New Hope The legal structure to allow such investment is generally in good order, and so the immediate issue is about where to locate the investment and which, if any, legal or commercial constraints might inhibit such investment.

However one views British colonialism, there is rarely any criticism of the legal draftsmanship or the comprehensive nature of the laws. All those laws are embodied in the 13 volumes of the Burma Code that covers laws introduced from 1841 to 1954.

Significant among these, as far as new investors are concerned, are the Companies Act 1914, supplemented by 1957 regulations, and the Arbitration Act 1944.

Newer legislation of significance includes the Foreign Investment Law 1988.

Assuming that investors have identified the areas of economic activity in which they wish to engage, they must next decide which legal vehicle to adopt to implement their investment.

One commentary that carried more weight than most was the position paper produced in 2011 by the International Crisis Group. It brought into severe question the effectiveness of sanctions against Myanmar—and this from a group financed mostly by Western governments, and led by Thomas Pickering, a former United States Ambassador to the United Nations.

During early 2012, the internal changes in Myanmar began to crystallise. The government began to ease restrictions and tried to reach out to certain minority groups.

No one sees the process as something that will bring peace and harmony immediately, but any development and improvement must be welcomed and further encouraged. In parallel, Myanmar’s government announced intentions to further liberalise the political scene by holding another round of elections.

True to their word, the elections have taken place and have received wide acclaim.

At this point, one should pause and reflect upon occurrences elsewhere in the world during the same period. Photos on international news channels showed the

violence and widespread chaos unleashed upon the countries of Libya, Egypt, Tunisia, Yemen and, latterly, Syria. These countries are paying a very high price to seek to bring about change, similar to that which Myanmar has witnessed in 2012.

International political leaders have queued for the opportunity to visit Myanmar and enjoy photo opportunities with ‘the lady.’

On each occasion, there was dialogue with the government and strong expressions of support for the changes being introduced.

It is not uncommon for investors to seek to use Myanmar nationals as nominees to front potential investments. The prohibition on foreigners owning land or shares in Myanmar companies means that such a method of investment is based entirely upon trust. One might characterise such investors as having ‘a very high risk appetite.’ The more sensible investor will adopt one of the established approaches.

Investors from the West have been jealously watching the growth of Chinese, Thai and other investor influence in Myanmar. There is a huge reservoir of investment money and goodwill seeking a home in Myanmar.

The next step depends upon the size of the investment, to an extent the type of investment and, importantly, the likely profit to be generated in Myanmar. The Myanmar Investment Commission (MIC) is designed primarily to assist and encourage foreigners investing large amounts of money. Such projects provide Myanmar with capital ‘know-how’ influx and will likely generate foreign currency as well as employing nationals in large numbers.

Encouraged by the actions and words of their political leaders, European, American, and Japanese companies and entrepreneurs have been filling the aircraft seats and hotels of Yangon for the last nine months.

Positive sentiment within and without Myanmar is very strong, and optimism is at an all-time high.

In return for this investment, the MIC will provide a basket of benefits ranging from 100% foreign ownership through to extended land rights, tax holidays and exemptions. A minimum investment threshold is between US$300,000 to US$500,000, depending on the proposed activity.

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

If the investment is rather modest, then the easier approach would be to simply incorporate a company (or partnership/ branch/representative office) under the Companies legislation. The limited company may be 100% foreign-owned, and the thresholds for investment are significantly lower than those for MIC promotion. A prerequisite to incorporation, which is applied for in parallel, is to seek approval from MIC—foreigners are required to do so—for a Permit to Trade. Applications must be lodged by hand in Nay Pyi Taw, located about 190 miles north of Yangon.

authorities. Litigation in most countries is not for the faint-hearted, and it will come as no surprise that in a market such as Myanmar, the challenges for the prospective litigant are disproportionately high. The Arbitration Act of 1944 offers a comprehensive framework within which one may seek alternative dispute resolution. The Company Law also provides that contracting parties may, at the time of entering a relationship, stipulate that they submit to an Alternative Dispute Resolution (ADR) process. The Myanmar Chamber of Commerce has a reputation for delivering impartial decisions between parties in dispute.

Once incorporated, the vehicle may seek permission of the MIC to use property.

Qualifying foreigners may enjoy leases of 30 years (plus extensions of up to 30 years), while special cases of investment in less popular locations can request for a longer lease.

There are no recorded precedents involving foreigners, but the Chamber does have the power to sanction a party who fails to meet an award by reporting them to the Ministry of Commerce, which, in turn, has the power to suspend the recalcitrant’s Permit to Trade.

Any prudent investor will also assess risk by reviewing the processes for resolving disputes with contracting parties or relevant

Myanmar’s increasing role in ASEAN must inevitably result in a tightening of the processes for ADR—sadly, there are

unavoidable hurdles that will slow progress.

One commercial hurdle included the value of the Kyat. The economy desperately needed a realistic revaluation of the domestic currency, and the recent float of the currency at 818 Kyat to the dollar is a huge step in removing some of the hurdles. Politics-wise, this article deliberately makes no comment of substance. There is very considerable world support for efforts to liberalise, and these will involve all the ethnicities in Myanmar.

With regards to infrastructure and property, domestic energy needs are a huge issue, as is the availability of commercial and residential accommodation. There is significant work being done in the energy, logistics and development sectors, but realistically, one cannot expect more resources to be made available over the course of the next two to three years. In the important field of human resources, great efforts are being made to train and educate Myanmar nationals with new skills. English language skills are high but technical training is urgently needed.

On a positive note, we now have a Myanmar government that is changing for the better and opposition groups that are cautiously optimistic. We also see foreign governments engaging in positive and constructive dialogue.

Myanmar has a population of 50 million people seeking change for the better.

Historically, they have been highly educated and hardworking. It is a country rich in natural resources. We see global investors eager for new markets to provide competitive labour and raw materials, as well as a population with huge consumer potential. Many investors rightly believe that now is the time to establish their credentials by investing in Myanmar, but they should, however, proceed in a deliberate manner and curb expectations with considerable patience.

Image by Gerd Eichmann (Own work) [CC-BY-SA-3.0], via Wikimedia Commons

About the Author Gary Biesty is one of the four founding partners of South Asia Law. He delivers strategic advice on complex general commercial matters, corporate acquisitions and financings for both domestic and international

clients. As a lawyer working in Asia since 1987, Gary has provided counsel to both domestic and foreign investors offering his experience in a commercial and pragmatic manner. Following the establishment of South Asia Law, Gary has founded and

leads the firm’s Myanmar practice. South Asia Law works closely with U Myint Lwin Law Office in Myanmar. He has, for the last 10 years, represented the Government of Ireland as their Honorary Consul to the Royal Thai Government.

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Special Feature

Reflections On The Royal Visit

TRH walking among the headstones of fallen British and Commonwealth soldiers at Kranji War Cemetery.

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Special Feature: Reflections On The Royal Visit

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HRH inspecting the Guard of Honour at the Istana Welcome Ceremony.

I was delighted that we were able to include the British Chamber in their programme.

Steve and Yoshiko Puckett attended the State Dinner at the Istana, and a number of the Board plus various other business representatives had the chance to meet TRH at the reception that I hosted at Eden Hall the following evening.

The whole programme was, of course, the result of many months of planning and preparation by the High Commission working closely with TRH’s office and the

Singaporean government. We were very grateful to President Tony Tan Keng Yam for making this an official visit, and to a considerable number of officials at the Ministry of Foreign Affairs, the Istana, and in the Singapore Police Force, as well as our event partners at the Singapore Botanic Gardens, Gardens by the Bay, Rolls-Royce, the Rainbow Centre and the community leaders in Queenstown, and at Kranji.

As we reflect on the visit there are three things that strike me.

First, for us at the High Commission and, I hope they would agree, our event partners, this was a fabulous moment of public diplomacy. We aimed to deliver a programme that showed off not only the

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T

he recent visit to Singapore by Their Royal Highnesses (TRH) The Duke and Duchess of Cambridge was one of the highlights of what has been a busy 2012 for the High Commission.

TRH signing the guestbook at the Eden Hall reception.

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TRH were shown the Dendrobium Memoria Princess Diana, the orchid that was named in 1997 after the HRH’s mother, the late Diana, Princess of Wales. (credit: National Parks Board, Singapore)

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Special Feature: Reflections On The Royal Visit

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TRH mingling with residents at Strathmore Green, Queenstown. (credit: Housing & Development Board, Singapore)

TRH about to lay a wreath on behalf of Her Majesty The Queen and HRH Prince Philip at Kranji War Cemetery.

The visit was just one part of what has been a very successful year for Britain’s soft diplomacy.

My second thought is that the visit was just one part of what has been a very successful

year for Britain’s soft diplomacy. As well as the visit we also had the celebrations in London of Her Majesty’s Diamond Jubilee in June and then the Olympic and Paralympic Games in July, August and September. All attracted international attention.

There was also praise for Her Majesty and all that She has represented during Her 60 years of extraordinary public service. And praise for the Games, for the physical achievements of putting on the two biggest sporting events in the world and the actual sporting performances of the two Team GBs, and for the image that the UK presented to the world during those glorious few weeks.

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UK/Singapore partnership but also the best of Britain in Singapore. The thousands of photos that are now circulating of TRH do just that, whether at Rolls-Royce, the British designed and engineered biomes and landscape of Gardens by the Bay, or at Queenstown, named in honour of Her Majesty at the time of Her Coronation in 1953. I think most people would be hard pressed to generate the types of crowds and media coverage here and around the world that we saw over those 48 hours in Singapore.

TRH with the students of Rainbow Centre and its Executive Director June Tham. (credit: Rainbow Centre Singapore)

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

TRH presented with kampong gifts from residents at Strathmore Green, Queenstown. (credit: Housing & Development Board, Singapore)

That image was one of a nation that came together to welcome the world, and of a nation that was proud of what it had done, and was doing, and wasn’t afraid to say so.

My third reflection is what should we be aiming to do with this “soft diplomacy”?

How do we turn the positive sentiment towards the UK into tangible benefits, here in Singapore and elsewhere? Because while I don’t think everything we do needs to be about the bottom line, nor can we hide the fact that we still have some real challenges to address in terms of fixing the economy and returning to a path of long-term sustainable growth.

In that context I have, again, three thoughts about what we should be aiming for in the immediate future on the back of the Diamond Jubilee, the Olympics and Paralympics and TRH’s visit to Singapore:

• We should be confident that we are a nation that people want to partner with. In a country like Singapore, there is a shared heritage and a sense of common bonds that we need to understand, build on, develop and exploit for mutual benefit. Through the Economic and Business Partnership, signed a year ago and starting to bear fruit, or through the Five Power Defence Arrangements, now 41 years old, we have the structures for that partnership and should be looking to use them; • We should be confident that we can actually deliver the types of big projects that we need to revitalise our infrastructure at home, and help others to do the same abroad. The Olympic venues were built on time and on budget. We should take that experience, learn from it and replicate it;

While I don’t think everything we do needs to be about the bottom line, nor can we hide the fact that we still have some real challenges to address.

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Special Feature: Reflections On The Royal Visit

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Building Networks Connecting Business Creating Opportunities

TRH had an orchid named after them—Vanda William Catherine—at the Singapore Botanic Gardens. (credit: National Parks Board, Singapore)

• We should be confident that we can continue to be a nation that can be competitive in the sectors that are going to drive the world economy in the decades to come: high-value manufacturing, R&D, design, the creative industries, education, energy, professional services to name just a few.

About the Author HE Antony Phillipson British High Commissioner

You’ll notice that there’s a common theme, confidence. It’s been a tough few years in the UK as in many other parts of the global economy and there’s still work to do. But I think we’re entitled to be proud of what we’ve accomplished in 2012, and should focus on turning some of this soft diplomacy into active collaboration and partnership between the UK and Singapore across

the prosperity and growth agendas. I look forward to working with the Chamber on this set of issues in what’s left of 2012 as well as in 2013 and beyond.

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British High Commission / UKTI

Tech City: UK’s Innovation Frontier Our ambition is to bring together the creativity and energy of Shoreditch and the incredible possibilities of the Olympic Park to help make East London one of the world’s great technology centres.

— David Cameron UK Prime Minister

Why?

Tech City London is already being called the ‘Digital Capital of Europe.’ Why? Well, in just two years there has been a phenomenal burst of growth in digital, creative and high-technology companies building their success in Tech City. There are now more than 250 companies in the area that have chosen to plug into the unique facilities, opportunities and access that Tech City offers.

Tech City can help turn your high-tech business ideas into reality. It provides a dynamic and supportive environment, which makes your business far more likely to succeed and flourish.

With its artists, studios and music heritage, this über-stylish area has proved a Mecca for ambitious young technology entrepreneurs. It is accessible, affordable and has a real energy and buzz, with a heady mixture of trendy warehouse properties, bars, coffee shops, restaurants and art galleries. Tech City’s clusters of like-minded entrepreneurs thrive on networking, exchanging ideas and forging collaborative relationships.

Tech City is also attracting the smart money. From angel investors to major venture capital companies, the funding concentrating on Tech City provides real advantages for entrepreneurs and established technology companies.

And, as the site for the London 2012 Olympic Games, Tech City is one of the UK’s most dynamic and invested-in areas.

The high-tech Olympic Park broadcast and press centres will continue to thrive after the Games, offering some of the most globally connected spaces in this worldbeating business environment.

The Olympic Park will provide the perfect environment for the companies of the 21st century to flourish and grow.

— Andrew Altman, Chief Executive, Olympic Park Legacy Company

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

Locate in Tech City and follow in their footsteps.

With a rich history in innovation and a dynamic business environment, the UK pulls out all the stops to make things work for business. Tech City has the commitment from government and active support from major global technology companies to make it one of the world’s great technology centres.

— Bob Wigley, Chairman, Yell Group plc.

Seven Reasons to Invest in Tech City 1 THE PLACE: At the heart of London, the leading international business hub and the number one European location for IT. 2 THE BACKING: Commitment from government; backing from industry, banking and academia.

3 THE CASH: Access to London’s world-leading financial services sector and Europe’s largest VC community.

4 THE SPEED: Cutting-edge ICT, digital and creative facilities, including those available at the Olympic Park post 2012; priority area for superfast broadband.

It’s not just the digital connections that make Tech City unique. The investment around the Olympic Park means we’ll have nine railway lines running through the area, including high-speed links to the rest of the UK and Europe.

Tech City has expanded from some 15 high-tech firms in 2008 to over 250 today. Last.fm, Dopplr and Saffron Digital have all received major investment from multinational companies. Others include Songkick, the largest global database of concerts in the world, and business

card company MOO, which today serves customers in over 180 countries.

It’s not just start-ups that have joined the buzz. Many of the world’s biggest technology companies—including Cisco, Vodafone, Google, Facebook and Intel— have seen the exciting opportunities offered by Tech City UK and want to be part of the success. They recognise the advantages the area offers and the potential benefits of being part of this thriving and successful centre of technology excellence.

5 THE TALENT: Access to an established and growing community of tech-focused companies and people.

6 THE CONNECTIONS: World-class international transport links, with Eurostar rail terminal and major airports close by; proximity to leading technology universities.

7 THE BUZZ: Vibrant multi-cultural commercial and social scene, creating a buzz to generate new ideas and innovation and attract the best talent.

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British High Commission / UKTI: Tech City: UK’s Innovation Frontier

The UK government is more focused than ever on creating the ideal environment for our own entrepreneurs, as well as welcoming the best international entrepreneurs to the UK. This is an incredibly businessfriendly environment, offering entrepreneur visas and a special entrepreneurs Capital Gains tax rate of just 10% for the first £10M, R&D tax credits of up to 225%, and a range of other valuable incentives. In the UK, government encourages but tries to stay out of the way of business, allowing businesses to thrive.

East London has an incredible buzz and a real concentration of talent.

It’s a great place to be to help your tech company grow and thrive.

— Elizabeth Varley, Co-founder & CEO, TechHub

Where to get more information?

Web Email Twitter Tel

: : : :

info@techcityuk.com www.techcityuk.com @techcityuk +44 (0)20 7215 8000

What?

A rapidly growing cluster of technology companies in London’s East End, Tech City is increasingly the place to be for the world’s next generation of hightech entrepreneurs. The people here are creating a real buzz, establishing a vibrant, youthful, innovative and savvy technology community. It’s a place to succeed and there are plenty of hightech companies proving this, right now.

Stretching from the creative, dynamic districts of Old Street and Shoreditch to the booming Olympic heartland of Stratford, Tech City offers exciting opportunities for technology companies and investors of all sizes. Supporting its development is the UK government, which is directing resources, expertise and investment into the country’s technology sector.

We are delighted to be working with the UK government on this project as a logical progression from our work in the east of London for the London 2012 Olympic Games. The Prime Minister’s Tech City Initiative is very exciting for the UK and we have worked closely with the government on ways to strengthen it.

— John Chambers Chairman and CEO, Cisco

Successfully social As it continued to grow, Yammer saw significant interest in its service coming from Europe and the Middle East. With UK Trade & Investment’s support, the company has set up offices in Tech City, London

Fast facts

Facebook revolutionised the use of the internet in the last decade, as Google did the one before. Businesses are recognising that they can harness the power of social networking to help them grow. Yammer is a tool for making companies and organisations more productive, through the exchange of short, frequent answers to one simple question: What are you working on?

Modelled in a similar way to Facebook, this enterprise social network is designed to cater to its members’ specific connectivity and informationsharing needs. The company’s client list includes 85 per cent of the Fortune 500, and has 4 million registered users.

Yammer was launched in September 2008. Its main headquarters is in San Francisco, and it also has an office in Melbourne, Australia. The company won the 2008 TechCrunch 50 award for ‘Most Innovative Start Up’ on its first day in business, and one of its customers, Deloitte Australia, recently won the Forrester Groundswell Award for the use of new technology in changing the way business is conducted.

“We share a lot of Facebook’s DNA, from our investors to our Board members, and as a result we think in similar ways about how to best engage with our users”, says Mike Grafham, Yammer’s Head of EMEA Customer Success. “Enterprise Social Networking (ESN) is a natural extension for connecting people inside organisations, and for getting things done as people are so familiar with using social networking to communicate in their personal lives. We operate a ‘freemium’ user model, which means anyone in an organisation can start or join their network for free. When organisations are ready to adopt the service more formally, they can opt for our premium service, which allows businesses greater control and customisation of their networks.

We also offer External Networks, which are a great way of securely connecting organisations with their partners and customers.”

European demand The majority of Yammer’s 275 employees are based in San Francisco. But its product is inherently accessible to users around the world, and multi-national

Company:

Yammer Europe Limited

Country:

Global

Industry:

ICT - Software

Website:

www.yammer.com

clients, such as international media agency Thomson Reuters, Shell and CapGemini have helped to take Yammer global. The company provides its service in over 25 languages, and keeps a keen eye on growing user numbers outside of the US. Its expansion to Melbourne was a reaction to high demand for the service within the Asia-Pacific region.

Yammer has a dedicated professional services division, called Customer Success. To deliver the best service to customers and to help to maximise the return on investment for each business’ enterprise social network, a local presence in EMEA is key. As a strong customer and prospect base developed across the region, establishing this representation became a business priority.

The UK was an obvious choice of location. London in particular offered access to Europe, strong national and international transport links, a strong talent pool and a technology-aware market. The company’s first objective was to open sales and professional service offices that could properly cater for its existing European customers.

“Our business development model focuses on markets that are actually using our service,” says Mike. “We have seen great interest in Europe, and there is a growing market in the Middle East that we want to be ready for. Expanding from our base in California to London was a very natural step, as there is no language barrier, and it is geographically and culturally the most accessible from the US. London also has a strong pool of sales and service professionals, who can cater to our current clients, and help us to expand into Europe and beyond.”

Tech-smart choices UK Trade & Investment (UKTI) had approached Yammer’s US management early in 2011 offering support in expanding the company’s business into the UK. So, the company asked for advice on the best location for its new offices.

As a busy social, cultural and networking hub, London’s West End has proved popular with US companies over the years. However, Yammer wanted to be in an area more suited to its start-up nature. UKTI recommended Tech City, a creative-technologies hub in London’s East End, with a vibrant mix of start-ups and multi-nationals. It then

introduced the company to its network of partners, including Gateway to London, and London & Partners (formerly Think London). Now with a team of advisers, Yammer was quickly able to find shortterm premises that allowed it to get up and running. After receiving further guidance on property options, it opened new offices on schedule in July 2011, and is working with UKTI on supporting its continued expansion.

“Tech City is clearly the right place for us to be,” says Mike. “UKTI made themselves available to discuss the options on offer, and their continuing support has been invaluable. UKTI helped us to tap into Tech City’s networking and public relations resources, and really eased our entry into the area. Although we are now a well established start-up, our spirit is still entrepreneurial, so we fit in well with the younger companies there.

We believe that any business, regardless of size, can benefit greatly from our enterprise social networks. UKTI’s support has made the establishment of our EMEA base a much smoother process than I was expecting, which has allowed us to focus on what’s really important – growing our business to the next level.”

Setting up your company in the UK Deciding where to locate your international business is one of the biggest decisions you’ll make and can be daunting.

UK Trade & Investment helps businesses coming to the UK with every aspect of setting up their new operations.

As the UK Government’s inward investment agency, it’s our job to know the UK’s strengths and where investment opportunities exist.

This means we can help your company to do all the research you need to make an informed decision, and then get up and running as quickly as possible.

UK Trade & Investment can help you to: • Do your research • Build key contacts • Choose your location • Set up your new office • Grow your business internationally

For more information visit: www.ukti.gov.uk

The UK - Europe’s leading investment destination The UK is an attractive springboard for companies who want to grow their global business. It provides a unique gateway of international connections, is a recognised leader in the fields of creativity and innovation and is the sixth largest economy in the world.

The UK is one of the easiest places to set up and run a business. According to the World Bank, it takes just 13 days to

set up a business in the UK, compared to the OECD average of 15 days.

The UK is also home to four of the top 10 globally ranked universities, including Cambridge University which is ranked first. It is also the number one location for European headquarters: more overseas companies set up their European headquarters in the UK than anywhere else.

UK Trade & Investment is the Government department that helps UK based companies succeed in international markets. We assist overseas companies to bring high quality investment to the UK’s dynamic economy. We provide companies with the tools they require to be competitive on the world stage.

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British High Commission / UKTI

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Singapore And Malaysia:

Co-operation in the Creative and Digital Space

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wo striking impressions from a recent trip to Singapore. The first was the convergence of digital and creative.

This was exemplified by simultaneous trade shows Communic Asia and Broadcast Asia. While always at the tech-y end of the spectrum, the similarities between the two were striking: a mass of data management, file workflow, digital infrastructure, cloud services. One had some space rockets, the other some cameras, but to all intents and purposes they were macro and micro views of digital communications management.

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UK Secretary of State for Business, Innovation and Skills & President of the Board of Trade, Dr Vince Cable, and Singapore Minister for Trade and Industry, Lim Hng Kiang, signing the UK-Singapore Economic & Business Partnership Agreement.

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British High Commission / UKTI: Singapore And Malaysia: Cooperation in the Creative and Digital Space

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Deputy High Commissioner and Director of UKTI Singapore Judith Slater at an exhibitor’s booth during CommunicAsia/BroadcastAsia 2012.

[Singapore is] a small island with a geographic and cultural advantage seeking to define its value add proposition within a globalised creative/digital economy.

In presenting to three audiences across UK creative, digital and e/m commerce opportunities, the businesses I met may have come from differing sectoral or product positions but were recognisably part of a coherent digital narrative— whether brand engagement, public service analytics, social retail engines, online gaming or digital publishing— that of a technology-enabled convergent blend of content, commerce and platform.

The second impression was of ambition.

Every time I stay here, the view from my hotel is different, and the sheer dynamism and drive of the place is written across the changing skyline.

Singapore

Meeting with the Singapore InfoComm Development Agency and the Media Development Authority, the clarity of their strategic drive and investment in support

of targeted goals—whether the growth of e-health services or development of multiplatform content delivery—was striking. These investments range from catalytic start up funds through to development/production support and training, significant enough to drive impact and clear in required outcomes.

A small island with a geographic and cultural advantage seeking to define its value add proposition within a globalised

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The historical links between the UK and Singapore still endure and a constructive collaboration between British creative excellence and Singaporean digital ambition could provide a strong economic axis. creative/digital economy, in the context of a position as an international network hub—sounds familiar, but I’m not sure if in the UK, we are as driven by an urgent strategic need to find the solution.

Pinewood Malaysia

Across the Causeway into Malaysia, another display of staggering ambition.

In the next 10 years, the Iskandar Development Authority is seeking to create an international metropolis and double the population of the city of Johor Bahru. A holistic masterplan embracing industries from agro and chemical to creative and medicine—with the creative development anchored by Pinewood Malaysia (site above).

From a relatively low base (1.5% GDP) the Malaysian Government is targeting double digit growth of its creative economy focused

The article is from the UKTI Blog at http://blog.ukti.gov.uk and is written by Mark Leaver.

on animation, gaming and digital (with the Southeast Asian populations rapidly adopting social media and mobile tech).

The historical links between the UK and Singapore still endure and a constructive collaboration between British creative excellence and Singaporean digital ambition could provide a strong economic axis—with opportunities for businesses from both locations in accessing wider global markets.

Late last year, UK Business Secretary Vince Cable and Singapore Minister for Trade & Industry Lim Hng Kiang signed a UK—Singapore Economic & Business Partnership Agreement establishing a strategic dialogue. Creative Services / Digital Media were highlighted as an area of potential business co-operation—it feels like an opportune moment to put some proactive detail onto that framework.

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At The Chamber

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

Dear members, With less than three months to go until the end of the year, it is safe to say that 2012 has been a great year for Britain, with the Diamond Jubilee of Her Majesty The Queen and the fabulous Olympic and Paralympic Games in London. Moreover, Singapore had the honour and pleasure of a visit by Their Royal Highnesses The Duke and Duchess of Cambridge, a wonderful occasion to cement the relationship between the two nations.

The British Chamber played its part with the publication of a Diamond Jubilee commemorative coffee table book that was presented to the Royal Couple. All Chamber key contacts in government and business, as well as every member company of the Chamber, received a copy. The book is also available for sale, with proceeds being donated to the Singapore Red Cross Society. If you are interested in purchasing copies, please contact vipanchi@britcham.org.sg One highlight among the many Chamber activities was the presentation of the 13th Annual Business Awards to nine happy and proud winners on 4 October at the Gala Dinner in the Shangri-La Hotel. This year, we received a record 75 submissions, up from 61 last year. Of the 27 that made it as finalists, almost half were Singapore companies.

Brigitte Holschneider Executive Director, British Chamber of Commerce

As you may be aware, the Awards are open not only to British companies but also to all Singapore-registered companies regardless of membership to the Chamber. For a full report of this year’s Awards presentation and winners, please refer to page 35. A big thank you goes to Board member Emma Boyd and the ABA Committee members, particularly Board member Andrew Thomas from Ogilvy & Mather who fostered the connection to Singapore Press Holdings, allowing us to work with The Straits Times on a supplement that was published on 5 October.

I’d also like to share with you some of the main messages Roman Scott, the Chamber’s Economic Spokesperson and managing director of member company Calamander Group gave at his Economic Briefing on 16 October: • The US is the key to global recovery • Austerity is not helping the return to global growth • Singapore is in a recession, growth next year is likely to be minimal • The Euro will not break up as Germany finally understands the importance of the Euro and the role it has to play • Economical analysis ceased to be the base for investment decisions; politics and geopolitical risks play a big a part in today’s world.

The full presentation is available for members at www.britcham.org.sg To bring a closure to this extraordinary ‘British’ year, we are organising the BritCham Diamond Jubilee Ball on 1 December. We are back at our favourite location, the Shangri-La Hotel, and we have British chef Jason Atherton on board to create a delicious ‘British’ menu.

We are also working on many more surprises.

It would be great if all of you joined the party for this special occasion. Family, friends and colleagues are most welcome. If you have not booked your table yet, please do so by contacting Tiffeny Kua at tiffeny@britcham.org.sg I look forward to seeing all of you on 1 December at the Shangri-La Hotel!

Best wishes,

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Special Feature

13th Annual Business Awards: Celebrating the Best in Business

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

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Special Feature: 13th Annual Business Awards: Celebrating the Best in Business

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HE Antony Phillipson, David Hourican, Dr Vivian Balakrishnan, Brigitte Holtschneider, Simon Fraser CMG, Lord Chadlington

F

ollowing a rigorous and competitive few months, an air of excitement and anticipation enveloped 27 finalists as winners of nine categories were revealed. In the presence of the Guest of Honour, Minister for Environment and Water Resources, Dr Vivian Balakrishnan; British High Commissioner, HE Antony Phillipson; and Chamber President Steve Puckett, nine deserving winners were awarded the Silver Lady at the BritCham 13th Annual Business Awards Gala Dinner, held at the Shangri-La Hotel on 4 October 2012.

Other esteemed guests who graced the evening were Permanent Under-Secretary and Head of Diplomatic Service for the Foreign and Commonwealth Office and Senior Foreign Policy Advisor to the British

Government, Simon Fraser CMG, and Guest Speaker Lord Chadlington, Chief Executive of Huntsworth plc.

Lord Chadlington’s speech centred on how crisis reveals the true character of a company. In his speech, he shared eight golden rules on how to manage a crisis.

An excerpt of his speech, which shows companies just how to do so, is printed in the following pages.

Established in 1999, the Awards have grown to become one of Singapore’s most prestigious accolades. In 2011, the Awards became more inclusive by welcoming entries from any Singapore-registered company regardless of their membership with the Chamber. Each entry was required

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to submit achievements that are Singaporecentric. With initiatives such as these, the British Chamber of Commerce aims to further strengthen the legacy of the UK– Singapore relationship while recognising companies that have made significant contributions to the Singaporean business landscape.

Every year, the entries are judged on the following points: a sound business plan and sales and marketing strategy, strong leadership, commitment to innovation, ambition to grow along with demonstrated growth, and financial performance. This year, nine industry leaders who have achieved significant success and accolades were invited to judge each category. They are: Terry O’Connor, CEO of Courts Asia; Claire Chiang, Senior Vice President of Banyan Tree Holdings; Stephen Chang, Regional Managing Director of Deloitte Consulting; Valerio Nannini, Managing Director of Nestle Singapore Pte Ltd; James Thompson, Chief Marketing Officer of Diageo Asia Pacific; Annie Koh, Vice President for Business Development and External Relations at the Singapore Management University; Simon Birch, CEO of DirectAsia.com Group; John Nolan, Senior Vice President of Human Resources for Global Markets at Unilever Singapore; and Ho Meng Kit, CEO of Singapore Business Federation.

This year, Andrew Thomas, Managing Director for Singapore and Regional Director for Southeast Asia of Ogilvy PR, treated all 27 finalists to a seminar on PR skills for television. This was followed by an interview with Sharajit Leyl, Producer/ Presenter of BBC World News. Select interview clippings were compiled and aired during the evening.

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Special Feature: 13th Annual Business Awards: Celebrating the Best in Business

A total of 75 companies participated this year for nine categories.

Here are the winners:

Customer Service Excellence

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“A very tight contest but Brewerkz/Menu Group has clearly gone beyond the extra mile in delivering service excellence and inculcating service culture in innovation and community service,” said category judge Terry O’Connor.

(Left to Right) HE Antony Phillipson, Margaret Marshall from Brewerkz, Dr Vivian Balakrishnan, Steve Puckett

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Exceptional CSR Practice

(Left to Right) HE Antony Phillipson, Esther An from City Developments Ltd, Dr Vivian Balakrishnan, Steve Puckett

Category judge Claire Chiang said, “City Developments Ltd’s [CDL] commitment to sustainability is impressive. Its programme is fully embedded into every aspect of the business and has been consistently implemented over a number of years.”

“CDL’s efforts have resulted in it being listed in three of the world’s top sustainability indices for three consecutive years. It is the only developer to be awarded the inaugural Green Mark Platinum Award in 2011 and achieve 21 Green Mark Platinum Projects. Its holistic approach to environmental management is extremely comprehensive. Most impressive, however, is CDL’s bold commitment to achieve 22% reduction in carbon emissions by 2020, backed by an integrated plan to achieve it. CDL is a shining example of a business that is both fully transparent and accountable for its practices. A worthy winner.”

Productivity Improvement

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Stephen Chang, category judge, remarked, “This productivity improvement project demonstrates how strategic partnerships with its business associates and government agencies enabled a quantum leap in productivity improvement.”

(Left to Right) HE Antony Phillipson, Paul Broadhead from Rolls-Royce, Dr Vivian Balakrishnan, Steve Puckett

“Rolls-Royce (Direct Airside) must be credited for pushing for process change, working with government agencies and authorities. That these changes were pioneered and then accepted demonstrated Singapore’s superlative ‘ease of doing business’ environment that enables top-class competitiveness for companies located here. It also demonstrates that investing in strategic relationships and building trust can be a game-changer.”

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Innovation in Business

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“The impact of innovation by adopting technology (Manufacturing Execution System) has managed the sharing of knowledge and technical instruction to make the manufacturing process effective, efficient and accurate. The implementation of the technology across the organisation in all value streams is high,” said Valerio Nannini, who judged this category.

(Left to Right) HE Antony Phillipson, Yau Wai Man from Rolls-Royce, Dr Vivian Balakrishnan, Steve Puckett

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Inspirational Creativity

Category judge James Thompson said that The Singapore Repertory Theatre had the most comprehensively explained set of goals and a great track record of achievements and continuous improvements. He also said that they were ambitious for the future with clear goals.

(Left to Right) HE Antony Phillipson, Charlotte Nors from The Singapore Repertory Theatre, Dr Vivian Balakrishnan, Steve Puckett

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Education & Training Excellence

(Left to Right) HE Antony Phillipson, Neil Turrell from Tanglin Trust School, Dr Vivian Balakrishnan, Steve Puckett

Annie Koh, category judge said, “Tanglin Trust School has over 85 years of history. For an academic institution, sustainability with quality is a key attribute. Most impressive is the inclusive learning and training oportunities for lifelong learning within and outside the Tanglin Trust community. Not difficult to see why it is the clear winner.”

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Special Feature: 13th Annual Business Awards: Celebrating the Best in Business

>

Outstanding Professional Services

(Left to Right) HE Antony Phillipson, Martin Riddett from Faithful+Gould, Dr Vivian Balakrishnan, Steve Puckett

“This finalist clearly understands the simple—but usually forgotten—link that happy employees make happy customers. By investing in employees and technology, they deliver an outstanding professional service. Faithful+Gould has laid out a very positive and values-based picture of their company, progress and innovations. It is clear that it has built outstanding customer loyalty through its commitment to innovating throughout the value chain,” said Simon Birch, who judged this category.

>

Young Professional of the Year

(Left to Right) HE Antony Phillipson, Danielle Warner from Expat Insurance, Dr Vivian Balakrishnan, Steve Puckett

John Nolan commented, “Danielle has demonstrated remarkable vision, innovation and determination to establish a successful business in a very short period of time. Her creative approach and her ability to overcome obstacles to bring her vision to life is truly impressive.”

Small Business Rising Star

The success of this event is a demonstration of the Chamber’s continued efforts in bridging business excellence between the UK and Singapore. This would be difficult to achieve without the support of sponsors:

Title Sponsor: RBS Category Sponsors: Allied Pickfords, BP, Brunel, Cognita, Deloitte, Grayling, Portfolio Builders, Roffey Park Exclusive Media Partner: The Straits Times

> (Left to Right) HE Antony Phillipson, Carl Firth from ASLAN Pharmaceuticals, Dr Vivian Balakrishnan, Steve Puckett

Ho Meng Kit said, “ASLAN Pharmaceuticals’ business model is innovative and unique, commecially viable and socially relevant. It clearly proves that size does not always matter.

A clear and worthy winning SME Rising Star!”

We congratulate all our winners and hope to see more companies participate in the 14th Annual Business Awards!

Supporting Organisations: Economic Development Board, Spring Singapore, Singapore Business Federation, UK Trade and Investment, EuroCham, BBC World News

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8 Golden Rules On How To Manage A Crisis

By Lord Chadlington

The one thing that is absolutely certain—you will all face a crisis! We can all guarantee the unexpected!

Based on nearly 50 years handling crises, let me outline the key touchstones for action so you can manage a crisis effectively. And the one thing that is absolutely certain—you will all face a crisis!

We can all guarantee the unexpected!

Here are my key rules: 1 Is this a perception problem or a performance problem? If it is a performance problem—E. coli in the food chain, brakes not working on Toyota cars, an oil rig blowout on the Gulf of Mexico—no amount of communications will resolve this issue until you can say to

the public, with absolute certainty, that the performance has been completely solved and why you are confident it will not recur.

2 In any statement you write, put people first, property second, and financial cost third. Any change to this order and you will be considered mean and uncaring.

3 Always apply the mnemonic CAP to your responses in a crisis! C is for Concern, A is for Action, and P is for Perspective. Whatever the crisis you need to show Concern. If people have been inconvenienced or put in harms way, we

need to feel and show genuine concern and empathy. You need to demonstrate Action: Explain what went wrong, what you are doing to put things right and how you will ensure it never happens again.

And Perspective is putting the crisis into context. It will not take away the damage of the event, but it will help people to see that this is an exceptional occurrence.

Can you show, for example, what an excellent safety record your company has had over the years? Can you show that this is one failure among millions of successful products? Can you show that

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failure to make your numbers this quarter comes on the back of 20 quarters of always exceeding them? Concern. Action.

Perspective.

4 No crisis is containable unless you understand the impact of social media.

Your employees, unions, politicians, suppliers, bankers—they are all tweeting, blogging, in chat rooms, and so on. You have to monitor social media 24/7 because they will inevitably spill over into traditional media. You will also get a better feeling online than anywhere else for sentiment of your handling of the crisis and views among key target groups—particularly employees!

5 You need a different executive managing the crisis from the spokesperson.

They are two distinct roles. Do not confuse them. So often the CEO wants to do both, but whenever we put clients through simulated crisis situations, the CEO quickly

Special Feature: 13th Annual Business Awards: Celebrating the Best in Business

sees that he cannot do both roles competently.

6 The choice of spokesperson is very important—and often crucial. The public listens to individuals and to brands, not to companies or products! Dare I say this: Often a woman is better than a man! And it doesn’t have to be the CEO. It is often better to have a national or a divisional chief. Take the BP Deepwater Horizon disaster. Tony Hayward the British Global CEO of BP was the spokesman initially, but a US spokesman replaced him. The new spokesman sounded American to US TV viewers, and immediately appeared concerned for Americans and the US coastline.

This added credibility to everything that was said and was a factor in turning sentiment around.

7 All the way through the process, keep this question in mind: “Does this

response to the crisis pass the kitchen table test?” By this I mean, to the normal family sitting at home, reading the news, watching the TV or looking at our response on their iPad—does it feel reasonable, truthful, honest? Or does it feel as if you are hiding something, burying facts or not answering key questions? If the statement inspires people over breakfast to say, “But what about…?” then you have failed. Don’t try and be clever—try and be honest.

8 A bunch of golden rules: don’t speculate, always tell the truth on the information available, provide regular updates, always correct inaccuracies immediately, never say “no comment” and never go off the record. If you follow these rules, then in a crisis your true values will become apparent to all constituencies you serve.

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At The Chamber

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

8th Britain In South East Asia (BiSEA) Conference In Singapore On 30 And 31 August

B

ritain in South East Asia or BiSEA is a grouping of British Chambers and Business Groups in the Southeast Asian region including Brunei, Cambodia/ Laos, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.

BiSEA’s aim is to facilitate the interests of the members of the British Chambers and Business Groups in the region.

This regional Chamber network allows all registered members of any of the Chambers and Business Groups in BiSEA

to access facilities and services provided by these regional chambers.

This means that whenever you travel to any of these countries and wish to take part in the events organised by the local BiSEA Chamber/Business Group you may avail your member benefits in these countries.

The geographic spread of the BiSEA provides a strong business network in the region, giving members who are

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At The Chamber: 8th Britain In South East Asia (BiSEA) Conference In Singapore

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Networking evening at Eden Hall.

already established or intend to establish themselves in the Southeast Asian region a validated third-party contact which provides representation, services, information and guidance.

BritCham Singapore hosted the 8th BiSEA conference on 30 and 31 October in the Swissotel Merchant Court. We welcomed our delegates: • • • • • • •

Abigail Gilbert, ED BBA Cambodia Jakki Lydall, ED BBG Vietnam Greg Watkins, ED BCC Thailand Simon Landy, Chairman BCC Thailand Chris Wren, ED BCC Indonesia Molly Jagpal, ED BCC Malaysia Michael Whiting, Chairman BCC Philippines

We started connecting with the other British Chambers and Business Groups in the ASEAN markets in November 2008 and now meet twice a year. The main purpose of this informal alliance is best practice exchange, ensuring that our Chamber offices are run efficiently and our programmes are member-centric. We learn from one another and take away important and useful tips and insights for

the benefit of each Chamber organisation.

Main member benefits from BiSEA are: • Access to meetings with the Executive Directors for connections to governments and other useful partners helping to drive business interests in the markets • Contribution of articles in Chamber magazines upon agreement with the respective Chamber • Access to events hosted by the ASEAN Chambers at member rates when travelling to these markets • Advertising in the Chamber magazines at member rates • Access to the member directories upon request • Publication of company profiles in member directories when made available (Indonesia) During the conference this year, members were briefed on the ASEAN Economic Update by ANZ Asia’s Chief Economist Paul Gruenwald, who is based in Singapore. His team covers emerging Asian economies and is responsible for macroeconomic and financial market research, as well as interest rate and currency strategy. The

presentation slides and podcast are available on our website in the resource library for members.

This was followed by a panel discussion on Business Outlook and Opportunities in Myanmar with speaker Hazel Hector, Commercial Counsellor, British Embassy Rangoon, and Gary Beisty, Partner, South Asia Law. Please refer to page number 11 to read his views on Myanmar.

At the Chamber, we continuously strive to bring you added value and advantage of being a member with us. If you want to find out more details and require practical tips how to connect with the Chambers in the ASEAN region, please contact brigitte@britcham.org.sg

sais_newschool_ad_bricham_280x215_FA.pdf

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10/30/12

4:34 PM

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At The Chamber: Economic Briefing

Economic Briefing Notes B

ritCham’s Economic Spokesperson, Roman Scott, is known for his longstanding warnings on the US economy, the markets and the US dollar, the bullishness on Asia, and for accurately calling the rises in oil prices, the Asian equity markets and real estate prices over the last decade.

Scott began his presentation with James Bond posters on his slides commemorating 50 years of the movie franchise. He expressed that this was the only positive point he had for Britain this year.

Many causes for the financial crisis have been suggested, with varying weight assigned by experts. While some say that current solutions have stabilised the world economy, it will not improve unless it receives further stimulus. Others argue that fiscal and monetary policies are ineffective, and a fiscal stimulus extends a current account deficit and retards export growth.

Scott made several points on various markets and investments, and discussed the relevancy of economics in the face of other factors. He provided a medium-term forecast on where growth is meant to go. He reviewed global macroeconomics and looked at how the equity markets have done, and whether there is a parallel. He maintained that the US is key to global recovery.

2011 Reflections:

• We shouldn’t, and didn’t, have to be where we are now. It was due to a combination of incompetent policymaking, lack of leadership, and bad economic thinking.

• Eurozone PIGS crisis caused permanent damage, and could still escalate into a fully blown banking crisis (then batten down hatches).

• My 2008 recovery prognosis remains.

FC recession recoveries are different— slow, fragile, easy money-fuelled, ‘jobless.’

• The US is still the key to global recovery, and my core signal is housing. They’re not out of the woods yet.

• Fiscal support, even in the US, is over and politically untenable.

• Over-easy money will remain for at least another 12 months. The risk remains that the Fed will overshoot when tightening starts, but I prefer some inflation risks to deflation.

• The world will not return to ‘normal’; there will be permanent loss of output in the West, with the two-decade shift from West to East and South cemented in place.

• Opportunities for investors abound— cheap equities and real assets, but market efficiency cannot be trusted anymore.

2012 Economic Outlook

World: Backed with IMF data and figures, the world economy is set for a 3% growth rate, which

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is by world standards just a percentage point above the recession mark of 2%. A 3.5% growth is ideal, and the world should head for a long-run trend and growth rate of 4%. The US is going to squeeze past the 2% mark, but that is nowhere near the long-term trend rate.

Singapore: Singapore is significantly linked to global trade cycles. It is an excellent indicator of what is going on in patterns of global growth at a macro level due to its tradeoriented open economy. As we look at the country’s economic statistics, Q2 just inched over 0% growth rate and Q3 has come in at negative. Some of the major Singaporean sectors such as export, consumer electronics and pharmaceuticals are not in good shape.

Financial services that drive Singapore, as well as retail sales, are flat; so technically, Q4 is in a recession.

Growth next year is also not looking positive. There is still a tight labour market because doors to foreigners have been shut.

Annual growth will come in at 2% growth rate and inflation is at 4%. A lot of inflation and negative growth is being driven by house prices, liquidity and over-easy monetary policy.

China & India: China’s growth rate is at 7% with over 500 million people to be taken out of poverty.

This rate does not paint a good picture for

the most populous nation. An 8% to 9% growth rate should be the minimum and the aim should be to regularly achieve 10%.

The new long-term growth rate for China, however, is predicted to come down.

India had been gearing up to join China’s growth levels and went all the way up to 10% a couple of years ago. Owing to structural constraints, poor infrastructure and the socialism in the country, there is a considerable dip in this market too. There is a marked slowdown compared to last year; it should have flat-lined and carried on going.

Europe & Britain: Where Britain goes, Europe goes because it has started its austerity consensus. Britain remains in the dusk and will continue to do so in the coming years. Due to excessive policy-focused fiscal contraction and austerity at a time when natural demand in both the public and private sector has fallen off the cliff, adverse effects await Britain and appear to forecast a decade of zero growth for Britain.

Tips for Investors and Financial Planners

With the increasing irrelevance of economics, the era of relying on risk models and nice things from financial analysts, and equity strategy and economics is over. We are back to investing the way it used to be for much of history. We have to take into

account that risk investments are risky, and we live in a world where huge geopolitical events and politics can significantly influence the market.

• Follow Germany and Italy, and watch Spain’s position to avoid going wrong.

The EU will survive and is on the slow road to recovery. US equity portfolios will see noise until early January. “I suggest not dabbling with the market until mid-January,” says Scott.

• Despite various geopolitical risks, the US is the best option for now since there is an increase in consumer confidence and a decrease in the unemployment rate.

• Corporate recovery and reinvestment cycle is weak as they won’t invest until they see the American consumer fully functioning. US housing is a good bet since it has started to turn around.

In manufacturing, the auto (cars) industry is where the consumer spend is coming.

• Myanmar is worth a look but it’s too soon. Thailand, Vietnam, the Philippines and Indonesia are markets with better investment opportunities.

A copy of the presentation is available in the Member’s Resource Library. Please visit www.britcham.org.sg to download your copy.

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At The Chamber: Economic Briefing

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Left to Right: Christin Culme-Seymour, Roman Scott and Brigitte Holtschneider

2012 Economic Briefing is proudly sponsored by:

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The UK Statutory Residence Test, What Expats Need to Know!

September 25, 2012

Martin Rimmer, Tax Manager, Asia Pacific, The Fry Group

At The Chamber: Breakfast Clubs

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Self-leadership, A New Approach to Develop Leaders and Leadership Teams September 27, 2012

Andrew Bryant, CSP PCC, CEO and Founder, Self Leadership International

The BritCham Breakfast Club is proudly sponsored by:

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Why Singapore?

For Growth and Investment August 28, 2012

Magnus Bocker, CEO, Singapore Exchange

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At The Chamber: Leaders In Business Lunch

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Leading and Succeeding in Uncertain Economic Times August 14, 2012

Peter Cheese, CEO, The Chartered Institute of Personnel and Development

Leaders in Business Lunch is proudly sponsored by:

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Formula One Sky High Networking Evening September 20, 2012

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Steve Slater, journalist, Formula One commentator for Star Sports

Mark Dickens, Artist

At The Chamber: Other Events

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Formula One Sky High Networking Evening is proudly sponsored by:

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ICT InterChamber Networking Evening: In Collaboration with AmCham and FCCS August 28, 2012

At The Chamber: Other Events

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Entrepreneur / SME Inter-Chamber Networking Night: In Collaboration with AmCham and FCCS September 13, 2012

At The Chamber: Other Events

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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2012/2013 BritCham Events: Mark Your Diary

At The Chamber: Events Calendar

The BritCham Diamond Jubilee Ball Saturday December 1, 2012 Shangri-La Hotel, Singapore

BritCham Breakfast Club Nov–Jan Tuesday November 20, 2012 When can I afford to retire?

Tuesday November 27, 2012 Running an SME Tuesday January 29, 2013 Conflict resolution in business

Business Group Working Lunch Friday November 23, 2012 How can I take my business into the Cloud?

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Business Group Networking Thursday November 22, 2012 Young British Chamber: Network after Work

A BritCham Property Briefing Thursday November 22, 2012 Property Market Outlook 2013 and were the 2012 predictions correct

Energy and Utilities Briefing Wednesday November 28, 2012 The Outlook for Energy: A View to 2040 Friday December 7, 2012 E&U Event

BritCham/UKTI Briefing Friday December 5, 2012 Opportunities for British Businesses in Thailand: An overview of recent economic, commercial and political developments in Thailand

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At The Chamber

BritCham New Members Sterling Gloria James-Civetta & Co. Standard Life

Gloria James Neal Armstrong

Sterling Additional Standard Life

Frances Gallagher Hema Chettiar Joseph Kwok Pepita Prithviraj

Corporate Plus Ernst & Young Solutions LLP iFast financial Pte Ltd J.P. Morgan Robert Walters (Singapore) Limited

Mark Buchan Erik Hon Paul Handley Andrea Ross

Corporate Plus Additional Ernst & Young Solutions LLP

Adam Gerrard Adrian Ball Anthony Lucas Daniel Dickinson Donald Thomson Henry Syrett John Tudorovic

Ernst & Young Solutions LLP

iFast Financial Pte Ltd

J.P. Morgan Robert Walters (Singapore) Limited

Ronald Wong Sanjeev Gupta Tracey Paveley Bi Ying Ong Ching Nee Ton Chui Fang Lam Desmond Lim Hin Keat Choo Leong Kun Lim Pei Fung Carol Chan Roy Varghese Wee Kiong Lim Oliver Walters Brendan Walsh Caroline Owen Christina Ng Dominic Salomoni Hywel Davies Joanne Chua Joel Hides Leanna Nettleship Peony Lim Tim Klimcke

Corporate Addleshaw Goddard LLP Richard Wise Akamai Technologies Frederic Pierre Moraillon

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Akamai Technologies Malcolm Douglas Rowe Argyll Scott Singapore Hayley Downing Pte Ltd Marek Danyluk BBA Aviation Singapore David Best Holdings Pte Ltd Berry Palmer & Lyle Anthony Palmer Singapore Pte Ltd Harry Mcindoe Bupa International Ray Bond Cambridge Assessment Benjamin Schmidt Singapore Isabel Nisbet Chartwell Associates Pte Ltd Chris Potter

Curt Hubbard D’Perception Singapore Andy Chua Pte Ltd GSofA Singapore Frazer Macdonald Hay Openlot Ventures (Asia) James Ivins Pte Ltd

Corporate Additional Bupa International Chartwell Associates Pte Ltd

Andrew Ryland Martin Gill

Corporate SME Maxwell Drummond International

Philip De Waal

MCM East Pte Ltd Dominic McMurray Reallyenglish Singapore Benjamin Porter Pte Ltd Singapore Air Charter Pte Ltd Nicholas Johnstone

Corporate SME Additional Singapore Air Charter Pte Ltd

Stefan Wood

Overseas Corporate London Gateway Port Ltd

Individual Andrew Bryant Kannathasan Krishnan Manton Simon Townend Mark Florance Simon Dunbar

Xavier Woodward

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At The Chamber: Sterling News Australian International School: The Australian International School is pleased to announce the introduction of the International General Certificate of Secondary Education (IGCSE) curriculum from January 2013. The 2013 Year 9 cohort will be the first AIS students to study this curriculum. IGCSEs are 100% externally assessed, which ensures consistency of standards that can be benchmarked internationally. Each course comes with a clear syllabus, which is available to parents, as well as assessment criteria. For teachers, complete scope and sequence documents are available, and a wide range of textbooks and other resource material has been prepared by major publishers to support the courses.

The IGCSE will replace the current curriculum offered in Years 9 and 10 under the IB Middle Years Programme framework, and will be phased in over the next two years. www.ais.com.sg

Dimension Data: The complexities and challenges facing businesses continue to mount.

Globalisation. Cost control. Pressure to accelerate time-to-market with new products and services. Like many businesses, you’re considering cloud computing as a means to address these challenges. However, a move to the cloud presents a number of challenges: security, compliance, integration, global coverage and internal readiness, to name a few. Short-term, piecemeal investments in cloud infrastructure can be complex and costly. And they’ll slow the momentum of your journey to the cloud.

Dimension Data’s comprehensive portfolio of cloud services enables you to accelerate your adoption of cloud computing. We do so by simplifying planning, design, deployment and management of private, public and hybrid clouds.

Whether you’re at the beginning of your usage of cloud and virtualisation, or well on your way to leveraging the benefits of a self-service, hybrid cloud model, we can assist. And because all of Dimension Data’s cloud services are delivered on the same platform, it’s easier and more cost-effective to migrate from one cloud model to another as the demands of your business change.

Our portfolio of solutions and services includes: •

Cloud enablement

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Cloud and system integration

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Private cloud

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Public cloud

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Managed hosting

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Managed services

Find out more about us on www.dimensiondata.com/cloud

Hays: The winner of the inaugural Hays Office Professionals EA/PA of the Year has been announced. Elsie Chew from Barclays was named the first winner of the awards, established by recruiting experts Hays in recognition of the challenging and important work done by executive and personal assistants. “EAs and PAs are the backbone of most offices as they support their managers, as well as assist the whole team,” says Chris Mead, regional director of Hays in Singapore and Malaysia. Elsie received return flights and a three-night accommodation in London. Hays Office Professionals recruit temporary and permanent admin support professionals. www.hays.com.sg

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Faithful+Gould: After 12 years in the same building, we are moving! Due to our expanding operation, the Singapore office, consisting of both Faithful+Gould’s and Atkins’ Singapore offices, has relocated to larger premises since 13 August 2012. Our new offices are located at 8 Cross Street, #24-01 PWC Building, Singapore 048424.

Our email addresses and main telephone and fax numbers remain unchanged. The new office is able to accommodate a headcount of 90, as compared to the previous office which can only accommodate 50; this provides room for further expansion over the coming months and years. Apart from providing more space and better amenities, the new office also has a separate breakout area for staff to mingle and relax, or to hold less formal client and internal meetings. www.fgould.com

Rolls-Royce: On 12 September, Rolls-Royce, the global power systems company, welcomed Their Royal Highnesses The Duke and Duchess of Cambridge to the state of the art Rolls-Royce Seletar Campus in Singapore, where they unveiled the first Rolls-Royce aero engine assembled and tested in Singapore, a Trent 900 that powers the Airbus A380. Their Royal Highnesses also viewed the first wide chord fan blades to be produced at the facility. The 154,000 square meter Seletar Campus is the largest aerospace facility in Singapore and includes manufacturing, research and training facilities. As part of the visit, Their Royal Highnesses toured the facility, met with local Rolls-Royce employees and tried their hands at testing a Trent 1000 engine, which powers the Boeing 787 Dreamliner. www.rolls-royce.com

Bonvo Travel: Brings you into the thick of the action for the English Premier League, Champions League, Europa League and more!

Appointed by Thomas Cook Sport as the official sales agent in Singapore for Match Breaks, Bonvo provides one-stop convenience for you to book Match Breaks, which includes official match tickets and accommodation. Complete your experience with the comfort and benefit of flights, stadium tours and more.

For reservations and enquiries, contact Bonvo at beyond.travel@bonvo.com or 6491 0898. More details at matchbreaks.bonvo.com

Established in 1825, Standard Life is a leading provider of long-term savings and investments to around six million customers worldwide. At the end of June 2012, the Group had total assets under administration of over £206 billion across its savings and investments businesses, which operate throughout the UK, Canada and Europe; its corporate pensions and benefits businesses in the UK and Canada; and Standard Life Investments, a global investment manager, which manages assets of over £157.6 billion globally. Expanding its retail investment business and access to high-growth and high-value markets within Asia, Standard Life launched its retail savings and investment business in Singapore in October 2012, and offers a range of medium- to long-term savings products and investment plans tailored specifically for high-net worth Singaporean residents and expatriates. www.standardlife.sg

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At The Chamber: Corporate News 8Build: 8build are proud to be fitting out a new bar and restaurant for Fern & Kiwi on River Valley Road, Clarke Quay. Fern & Kiwi is named after two great icons of New Zealand, and will offer to Singapore the best of New Zealand food, wines, beers, music and live entertainment, all served in a friendly and fun atmosphere. We hope that you will get a chance to visit the new space we have created and sample Fern & Kiwi’s great New Zealand hospitality. www.8build.co.uk

Asian Food Channel: The Asian Food Channel (AFC), together with Resorts World™ Sentosa (RWS), is offering the chance of a lifetime to 12 underprivileged youths from six countries across Asia to fulfil their dreams in the latest reality television series titled The

Big Break. This 13-episode AFC Original Production will premiere on StarHub Channel 435 on 14 November 2012, 10pm, to more than 105 million AFC viewers. Hosts, RWS executive chef Alan Orreal and AFC celebrity chef Farah Quinn, will travel across the region in search of one youth to score his ‘big break’: a scholarship worth over S$30,000 at At-Sunrice GlobalChef Academy in Singapore. www.asianfoodchannel.com

Ambition: Leading global boutique recruitment business Ambition has increased the responsibility of its Singapore MD, Paul Endacott, to include Southeast Asia. Ambition enjoys a strong reputation in the Singapore market and, in line with the company’s vision of building better futures, Endacott’s new remit signifies the company’s intent to grow in the region. Endacott has been with Ambition for four years, during which time he has significantly built the Singapore operation. In addition to continuing to run the Singapore operation, he will be assessing the potential of entering new markets to fuel the company’s expansion.

Ambition’s areas of specialisation include finance and accounting, technology, sales and marketing, and banking and financial services. www.ambition.com.sg

Crown Relocations: On 2 June, Crown Singapore, keeping with their commitment to social responsibility and also to showcase their newly created five core values of Sharing, Caring, There, Determined, and Open-minded, took part in the Bare Your Soles 2012 Charity Walk.

Over a hundred Crown Singapore staff and some of their families members showed up “There” early on a Saturday morning at the Gardens by the Bay to show their sole-darity for this good cause. The event is intended to be a reminder of the underprivileged and disaster-stricken people in developing countries around the world. Crown, through their “Open-minded” and continuous “Sharing” and “Caring” efforts is “Determined” to participate in such events to make a difference in people’s lives.

As always, Crown’s regional managing director, Paul Sullivan, was there to lend his support along with his team; he walked ‘the extra miles’ to complete the five-kilometre walk while some of us took the shorter option of 2.5 km. web.crownrelo.com/singapore

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At The Chamber: Corporate News Berwin Leighton Paisner: International law firm Berwin Leighton Paisner (BLP) has hired energy project finance specialist, Nomita Nair, as a partner in its finance practice in Singapore. Nomita has more than 10 years’ experience in project financing and energy commercial contracts, particularly Liquefied Natural Gas projects, and has acted for sponsors, lenders, producers and purchasers across Africa, Europe and the Middle East. She has strong commercial skills, following secondments at Standard Chartered Bank and HSBC as well as significant international experience, having worked in Dubai, London and New York. Nomita’s appointment reinforces the firm’s strategic intention to develop strong infrastructure, energy, and oil and gas capabilities on a global scale. www.blplaw.com

British Airways: British Airways has rolled out its On Business loyalty programme for small- and medium-sized enterprises (SMEs) in Singapore. New members will benefit from a ‘triple points’ offer for the first six flights taken within the first year of membership, allowing them to earn rewards quickly. The On Business loyalty programme enables members to earn reward points on every qualifying flight booked through ba.com, British Airways reservations, or travel agents, irrespective of the country in which the ticket is bought. These reward points can be redeemed for reward flights, flight upgrades and free hotel stays. In addition, if travellers are members of the British Airways Executive Club frequent flyer programme, they are also able to earn individual miles. www.ba.com

Benham and Reeves Residential Lettings: After a slight lull during the Olympics season, the London rental property market is now buoyant again. We had a record-breaking August, then an incredibly busy September with enquiries across our nine London lettings branches up 17.2% since September 2011. New developments remain popular, with apartments at Kew Bridge and Napier at West 3 in Acton Vale, flying out. Most landlords at these developments are from Singapore and Hong Kong.

Southeast Asian investors continue to pour into the London property market, viewing London as a safe haven for their wealth, while the favourable exchange rate has given Singaporeans a 22% increase in their buying power since March 2008. www.benhamandreeves.co.uk

Cundall Singapore: Multi-disciplinary engineering practice, Cundall, has joined the Singapore British Chamber following the opening of its Singapore office in May. Cundall has delivered projects in Asia since 2005, maximising their sustainable design expertise as a route into the market. Recently they have delivered projects for major financial institutions, designing resilient critical systems for offices and data centres. “A number of our clients are here, so we are looking to develop our global offering, whilst expanding our client list,” says Marcus Eckersley, lead of the Singapore office. Cundall has three Asian offices, in Singapore, Shanghai and Hong Kong, and 21 offices globally. www.cundall.com

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EC Harris: EC Harris, the leading global built asset consultancy, has recently opened an office in Perth. John Boase has been appointed location leader for the new office and the wider Australian market. He will also co-lead EC Harris’ oil and gas, chemicals and natural resources sectors, in conjunction with Ian Kennedy who is responsible for operations in Malaysia. In this new role, John will oversee the delivery of all major capital projects that EC Harris clients undertake across Australia, and will also be responsible for developing new business opportunities within the country. www.echarris.com

Frasers Hospitality: Frasers Hospitality has chosen Singapore to debut its third brand, Capri by Fraser, with the opening of Capri by Fraser, Changi City/Singapore, a hotel residence designed to meet the lifestyle needs of the digital generation. Urban-inspired, high-tech, intelligent and intuitive, Capri by Fraser cuts through the conformity of typical hotels by bringing the extensive range of facilities and services of an ‘always on,’ e-efficient smart hotel, together with the comfort and convenience of a serviced residence. Scheduled to open in 2013 are Capri by Fraser, Ho Chi Minh City/Vietnam and Capri by Fraser, Bangsar South/Kuala Lumpur. www.frasershospitality.com

Fulford PR: Fulford PR continues to maintain its pole position within Singapore’s sports PR industry with two significant wins: the Standard Chartered Marathon Singapore 2012, and the recently concluded Singapore National Games 2012. Both events help to build Singapore into a sporting nation, and are testament to the agency’s expertise and heritage in Sports PR. Strengthening their government portfolio, Fulford PR was recently appointed by the National Library Board to manage the PR component of the Speak Good English Movement to encourage Singaporeans to “Make Good English Stick.” In line with this ‘sticky’ theme, this year’s campaign will feature creative use of sticky notes that act as a metaphor that reminds all Singaporeans to always speak well. www.fulfordpr.com

Michael Page International: Michael Page International has launched their executive search practice in Southeast Asia, led by John Mayes. The practice is expanding across the Asia Pacific region and already exists across China, North America, South America, Europe, the Middle East and Africa. This is a dedicated function within the Michael Page group that focuses purely on leadership hiring. Managed by over 100 directors each with over 12 years’ experience in senior recruitment activity within their markets, employers have the benefit of one of the strongest and most effective international networks in executive recruitment. www.michaelpageexecutive.asia/index.html

HW Fisher & Company: HW Fisher & Company is one of the leading firms of UK tax advisors assisting overseas owners in respect of their UK property investments. Alan Lester has been a visitor to the region regularly over the past 20 years. Earlier this year, the UK government announced dramatic tax changes in connection with properties valued in excess of £2m. The firm continues to assist clients so they can maximise their investment.

Those wishing to understand how these new tax proposals are likely to affect them should contact Alan at alester@hwfisher.co.uk. www.hwfisher.co.uk

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At The Chamber: Corporate News Global Intelligence Alliance: At GIA, we deliver market insights and strategic advice that enable our clients to make business decisions with confidence. Developed by market intelligence specialists, management consultants and technology experts, our customised solutions include environment monitoring, strategic research and analysis, market intelligence software, and consulting. GIA is your partner for setting up and delivering market intelligence in the most effective way. Your decision-makers benefit as we guide you towards achieving more value-for-money with world-class market intelligence. Call 6423 1681 or email singapore@globalintelligence.com to find out how GIA can help. www.globalintelligence.com

International Baccalaureate: The International Baccalaureate (IB) announced the move of the Singapore office to the new IB Global Centre, Singapore. The Parkview Square building, situated in the Bugis area at 600 North Bridge Road, is the third of the permanent Global Centre offices to open. In August 2010, the first was opened in Bethesda, Maryland, USA followed by The Hague in November 2011. Each Global Centre houses a range of critical functions and regional roles. The Global Centre, Singapore is the home of the Asia Pacific Regional office, along with the global support divisions of IT and finance, access, and advancement leadership, together with colleagues from a mix of diverse global functions. www.ibo.org

Leading Hotels of the World: The Leading Hotels of the World, Ltd is the largest luxury hospitality organisation in the world, representing over 430 of the finest hotels, resorts and spas in over 80 countries. Centara Grand Beach Resort & Villas Hua Hin is the first beach resort of Thailand, located in the centre of the famed royal resort town of Hua Hin. The luxurious historical and iconic colonial resort is set within an oasis of beautifully landscaped gardens dating back to 1923 when it opened as the Railway Hotel. The resort offers 249 rooms, suites and villas. The resort retains the elegance and splendour of a bygone era, complemented by personalised service and modern day comforts. www.lhw.com/centarahuahin

Olswang: International law firm Olswang has boosted its Technology and Sourcing offering in Asia with the arrival of senior partner Ian Ferguson to its Singapore office. Ian, previously from Pillsbury Winthrop Shaw Pittman, has significant experience in outsourcing transactions, advising both suppliers and customers. Ian also advises on technology and communications infrastructure and integration projects, electronic banking, e-commerce and data transmission arrangements, as well as on technology-related acquisitions, disposals and joint ventures. www.olswang.com Stephenson Harwood: Stephenson Harwood has had a double success at this year’s Asian Legal Business (ALB) South East Asia law awards, winning the Asset and Corporate Finance Deal of the Year and the evening’s most coveted award, the South East Asia Deal of the Year. The awards were given in recognition of Stephenson Harwood’s work on Lion Air’s $22 billion dollar order for 230 aircraft from Boeing—the largest commercial aircraft order in history. The signing of the deal was attended by President Barack Obama, who noted that the single order would create 100,000 jobs in the US aviation industry. www.shlegal.com

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International SOS: International SOS, the world’s leading global medical and security services company, has announced the results of its Duty of Care and travel risk management global benchmarking study. The survey found Asian businesses are behind the rest of world in protecting the health and safety of their globally mobile employees.

Dr Philippe Guibert, Regional Medical Director for Consulting Services, International SOS explains, “Companies operating in Asia can no longer afford to run the moral and financial risks of neglecting their Duty of Care obligations. Health and wellness programmes in the workplace increase a firm’s ability to attract and retain employees, and add to healthier business performance.” www.internationalsos.com

Tanglin Trust School: The start of the new school year for the Tanglin Trust School community was marked by the opening of a new five-storey extension to the Senior School named the West Wing. The West Wing is a Green Mark building and houses a sound-proof music suite, a large examination/training hall, classrooms, laboratories and a vibrant canteen! The décor on every level is colourful and attractive with designs by an accomplished interior designer who consulted both staff and students for ideas. The West Wing is an interesting and exciting place for Tanglin students to live and learn. www.tts.edu.sg

KADENCE AD

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At The Chamber: Members’ Offers

Members’ Offers

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

20% Off Registration Fee For Indonesia Summit 2013 Register for the Indonesia Summit 2013 today and get 20% off the registration fee. Visit the BritCham Members Offers page for more details.

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

Media Sales

Illustrations and info-graphics

www.novusasia.com

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Jet And Save With TravelEasy Save more with MSIG travel insurance. Enjoy attractive discounts and sign up gifts today!

Single Trip: 25% discount off premium + S$5 ToastBox voucher provided nett premium after discount is S$50 Annual Plan: 10% discount off premium + S$20 NTUC shopping vouchers Call 6827 7602 or email service@sg.msig-asia.com and quote your BritCham Membership number. *Policy terms and conditions apply. Valid till 17 Feb 2013.

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: Stephanie Lim / Siti Norani at 6725 7014 / 6725 7004 or email stephanie@tower-club.com.sg / siti@tower-club.com.sg. www.tower-club.com.sg

10% Off All Items At Sporting Memorabilia Sporting Memorabilia is celebrating it’s 10 Year Anniversary in Singapore with an offer to members of 10% off all items. Sporting Memorabilia has two dedicated rooms of originally signed items within Icon Gallery, 476 River Valley Road. Call 6735 4550 for enquiries.

The Body Shop: 10% Off All Regular-Priced Items Conditions: • Valid from 4 October to 31 December 2012 • Present British Chamber of Commerce membership card to enjoy the offer.

• Offer cannot be used in conjunction with any other membership discounts or privileges and third-party promotions.

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At The Chamber: Members’ Offers

2 Months Membership For Every Annual Subscription Of Health Club At The Traders Britcham members enjoy an additional two months membership for every annual subscription of Health Club at the Traders.

12 months Individual Member

S$1,800

12 months Corporate Members (2 pax)

S$2,880

Benefits: • Complimentary two months membership • Complimentary fitness assessment • Complimentary guidance to Fit Start Program • 20% discount on food and beverage at Traders Hotel’s restaurant and bar • 20% discount on à la carte spa services • 20% discount at Hair Salon Conditions: • Minimum age is 18 years • Membership is neither refundable nor transferable • British Chamber of Commerce Membership card must be presented upon application Our Health Club members can work out or unwind amid lush greenery at the Traders Health Club with fully equipped gym and trained instructors. Sauna, steam bath and whirlpool are available within the female and male locker rooms. We also have a 30-meter free form swimming pool and an outdoor whirlpool for their use.

Call 6738 2222 for more information.

CITYGOLF Save $500 off the membership fee at CityGolf.

Experience tasty tapas, the finest whiskeys and mesmerising city view, all while 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 6536 4846 for enquiries and bookings.

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

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City Serviced Offices 9 Raffles Place, Levels 57-58 Republic Plaza & Levels 17-18 Republic Plaza II BritCham Members: Enjoy a 10% discount on virtual offices, meeting rooms, video conferencing facilities and secretarial services, subject to availability. Enquiries: Annie Abraham at 6823 1388 or email cityservicedoffices@cdl.com.sg www.city-servicedoffices.com

Damai Spa - Grand Hyatt Singapore As a BritCham member, purchase the Damai Gym membership at a special rate of $280++ (exclusive of GST) per month, on an annual basis (Usual Damai Gym Membership is $325++ per month). Enjoy all the benefits of being a Damai Member for less than $10 a day.

Application forms available on the BritCham Members Offers page.

Enjoy complimentary classes, 20% discount on all spa treatments, 20% dining discount at Oasis restaurant and other special privileges as a Damai Gym member. For more details, please contact Damai Spa at 6416 7156 or email damai.sg@hyatt.com.

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Culture & Lifestyle

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The Need For Speed Why British businesses can be proud of the Singapore Grand Prix.

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his year marked the fifth running of the Formula One™ SingTel Singapore Grand Prix, and it was yet another triumph for the Lion City.

The Grand Prix attracted almost 100,000 spectators, of which more than 40% were overseas visitors.

The Singapore Grand Prix is a winner on the wider stage too. For the past five years, the race has effectively been a two-hour TV commercial for the citystate, with each of the unique night races watched by an average of 100 million viewers around the world.

Just as the 2012 Olympics placed London at the centre of the global map, the Singapore Grand Prix raised the profile of its host city to unprecedented levels.

The spectacular helicopter images of the floodlit track and the packed city skyline, not to mention the Gardens by the Bay and the triple towers of the Marina Bay Sands resort, have contributed to an external perception of Singapore as the leading technical and commmercial capital city of Asia.

There are good reasons us British can be proud of the Singapore Grand

Just as the 2012 Olympics placed London at the centre of the global map, the Singapore Grand Prix raised the profile of its host city to unprecedented levels.

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Culture & Lifestyle: The Need For Speed

Prix too. While the national anthems of Germany and Austria sounded at the end of this year’s race to honour winner Sebastian Vettel and his team’s Salzburgbased owner Dietrich Mateschitz, the Red Bull Racing team has its roots deeply embedded in British soil.

The Red Bull team employs around 550 people at its headquarters in Milton Keynes, at the head of what is termed ‘motor sport valley,’ a core of hightechnology businesses that specialises in giving the British motor sport industry a lucrative winning edge over other countries. The Mercedes AMG, Sahara Force India, Lotus, Caterham, Williams and Marussia teams also call the area home.

Second to Vettel on the Marina Bay podium after teammate Lewis Hamilton was arguably robbed of a 2012 victory by a gearbox failure, Jenson Button represented the most successful British team ever:

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2010 British GP start. (Credit: Ben Sutherland via Wikimedia Commons)

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Steve Slater at Red Bull pit stop reporting for Star Sports

McLaren. Since its creation in 1966, the team has won 180 Grand Prix, nine constructors’ and 12 drivers’ world championships.

McLaren employs around 1,000 people at its state-of-the-art technical centre at Woking in Surrey, just south of London.

The £300 million (S$589 million) semicircular building, designed by awardwinning architect Sir Norman Foster, houses not just the racing team, but a whole range of high-tech companies, including McLaren Technology, McLaren Electronics, specialist carbon-fibre and metallurgy divisions, ‘virtual reality’ simulators and wind tunnels.

In addition to design and working areas, facilities include a 700-seat restaurant, a swimming pool and a fitness centre, used by drivers and employees alike. An adjacent second facility, the McLaren Production Centre, was opened in 2011. It serves as the production area for McLaren

Automotive’s road vehicles, including the MP4-12C super sports car.

Even the Mercedes engine at the back of McLaren Formula One cars is British to the core. The engines, shared with the Mercedes AMG team and Sahara Force India, are actually built at Brixworth in Northamptonshire.

The facility was opened by former Cosworth engineers Paul Morgan and Mario Ilien in 1983. After building highly successful Ilmor engines for MercedesBenz in the American Indycar racing series, the company began supplying the German car maker with Formula One engines in 1995. In 2005, Daimler Benz became the sole owner of Ilmor and renamed the company Mercedes-Benz High Performance Engines Ltd. However, one British ‘export’ that is less obvious is the man behind the renaissance of that most Italian of racing teams, Ferrari.

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Credit: By Dhonsky357 (D357) In and Out from Choa Chu Kang, Crescent, Philippines via Wikimedia Commons

There remain very good reasons for us to be proud of the British input into all of the participating drivers’ success.

At the start of 2012, former McLaren senior engineer Pat Fry took over as technical director of the Scuderia. His engineering and production skills are regarded by many as the secret behind the newfound competitiveness of the scarlet cars and Spanish driver Fernando Alonso.

Fry is not the first Briton to work in the team’s Maranello headquarters. Between 2000 and 2004, then Ferrari team principal Ross Brawn worked in partnership with the

About the Author Steve Slater has been the voice of Formula One for Star Sports for 14 years, but his infectious enthusiasm for motor sports goes back more than three decades. Steve is, in his

legendary Michael Schumacher to deliver the German five world championships with the Scuderia and 72 of his record 91 race wins.

Alonso, meanwhile, has won three times and led the world championship for Ferrari for much of this year. The then three back-to-back Red Bull wins by Vettel in Singapore, Japan and Korea turned the standings on their head and gave the reigning champion a slender lead.

own words, “immensely lucky” to have travelled the world and working as a journalist, commentator and PR man alongside some of the sport’s biggest names.

As the 2012 Championship heads into the final few races, it has become a straight fight between the Spaniard and the German, while Britain’s Lewis Hamilton is battling for third place in the championship with Finnish driver Kimi Raikkonen.

Regardless of the nationality of the drivers who come out on top, there remain very good reasons for us to be proud of the British input into all of the participating drivers’ success.

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Culture & Lifestyle

Under The Tuscan Sun

Few places make you feel like you’ve just accidentally stumbled into an oversized work of art. Turn in any direction, and the views are painterly, but the colours almost too vibrant to have come from ordinary paint tubes or brushes.

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elcome to Tuscany, which more than lives up to what you learnt from art history (Van Gogh! Da Vinci!) and pop culture (Hollywood romance! Jamie Oliver!).

Everything you’ve heard, seen and read is true: the gasp-inducing landscapes, the amazing sunlight, the great wines, the wondrous food.

Not be missed is the picturesque town of Siena, where you’ll gaze agog at the imposing Duomo (Cathedral) and the breathtaking Piazza del Campo (the Historic Centre designated a UNESCO World Heritage Site). Movie buffs might remember having seen the Piazza in the last Bond film, Quantum of Solace. The town’s traditional mediaeval bareback horse-race, called the Palio, provided

an exciting backdrop to the opening sequence, which saw Daniel Craig pursuing baddies in the thick of the race.

Equally thrilling is Tuscan cuisine. Osteria da Divo, which comes in second on TripAdvisor’s list of Siena’s best restaurants, is set in the caves of an ancient Etrusan tomb! The restaurant is not just intriguing because of the setting and ambience, it scores top marks for quality of produce and inventiveness of menu. I lunched on roasted quail covered with Tuscan bacon, followed by hand-rolled Senes pasta with wild boar ragout. Both were cooked to mouthwatering perfection a heady mix of smoky flavours and tantalising textures.

Scores of smaller hill towns sit stoic under the hot Tuscan sun, awaiting eager

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Culture & Lifestyle: Under The Tuscan Sun

Is it any wonder that some of the world’s best-known painters, poets, philosophers and visionaries found so much inspiration here? tourists anxious to capture that definitive photograph to bring home. Will it be San Gimignano, with its 14 magnificent stone towers, thus nicknamed the ‘Mediaeval Manhattan’? Or will they find that shot somewhere in Chianti county—named after the famous dry red wine produced in this region—where quaint old towns like Greve, Panzano and Castellina brandish their own quiet charms?

Most of Tuscany’s hill towns are wrapped behind giant walls and stone towers dating back to the 11th century. They are beautifully preserved, a maze of narrow cobblestone streets and ancient archways, watched over silently by languid flowers hanging off cast-iron balconies.

Is it any wonder that some of the world’s best-known painters, poets, philosophers and visionaries found so much inspiration here?

And there’s no better place to discover Tuscany than Casa Lucardo, the magnificent villa that’s clearly the crown jewel in Banyan Tree Private Collection’s lineup of properties.

The 300-year-old villa is perched majestically on a hill with panoramic, drop-dead gorgeous views of the countryside. You suddenly appreciate why this was the birthplace of the Italian Renaissance—Tuscany is spirited, soulful, emotional, inspiring.

For more information on Banyan Tree Private Collection and to find out how you can get access to Casa Lucardo, visit our website: www.btprivatecollection.com

And Casa Lucardo seems to rest squarely at the heart of this magical kingdom. The four-bedroom villa would be the ultimate getaway home for anyone. Whether you’re looking for peace and solitude, or romance and adventure, or just want to chill out with family and friends, the space feels right.

Bask by the pool or laze with a book in one of the inviting outdoor areas. Enjoy a barbecue in the nippy evening air or curl up by the fireplace on a wintry night. Stroll through the private olive grove, or marvel at cypress trees, roses and wild flowers.

Uniting around one goal: your success.

At Barclays, your dedicated team is our entire company. Every relationship begins with a single point of contact. Then we build a unique team around your challenges, share knowledge among all our disciplines, and reach out across geographies to find the best ideas. So we can seamlessly deliver comprehensive solutions to even the largest and most complex problems. At Barclays, we know world-class solutions don’t come from departments – they come from talented people who share a collective goal, your success.

For more information, visit us at www.barclays.com

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