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 45 / OCT–NOV 2013
SPECIAL FEATURES
47 21 ISSUE 45
ISSN 0219-1245
14TH annual business awards In Focus: THOMAS FRIEDMAN
45
9 770219 124002
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1. TEA Also English for water. 2. STONEHENGE Was it druids, greeks or aliens? Its history shrouded in mystery makes it so appealing. 3. ROYAL GUARD We dare you to make a royal guard laugh. 4. PHONE BOOTH Once used for phone calls. Now used for photoshoots. 5. RIVER THAMES All that London rain has to go somewhere! 6. DOUBLE-DECKER BUS Hop on, hop off! You have not seen London till you have been on top. 7. NATURAL HISTORY MUSEUM Like an antique shop. Only nothing is for sale. 8. ABBEY ROAD Home of UK’s most frequently stolen street sign. 9. PUB Museums of the neighbourhood. 10. FISH & CHIPS Today’s catch in yesterday’s paper. 11. PIE The best thing to put in an English pie is your teeth. 12. OXFORD STREET You have been there in Monopoly. Now see the real thing. 13. BIG BEN The bell in the grandfather of grandfather clocks. 14. BUCKINGHAM PALACE One prince still up for grabs. 15. WEMBLEY STADIUM A cathedral of football and music. 16. THE TUBE Mind the Gap! 17. 30 ST MARY AXE Or the gherkin, as Londoners like to call it. Terms and Conditions: Offer ends 31 December 2013, unless sold out prior. Subject to availability. Discount of 10% is applicable to Economy, Premium Economy and Business Class only. Valid for travel between 02 May and 31 December 2013. This offer is open to active Singapore based Britcham members only. Bookings of non-members will automatically be cancelled. Valid on BA operated flights from Singapore and strictly not allowed on code share and franchise flights. Discounts not applicable on taxes and surcharges. Valid when fares booked at ba.com/britcham site only. British Airways reserve the right to amend or withdraw this offer without prior notice. Standard British Airways terms and conditions apply.
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In the future, 2013 will be remembered as the year of the renminbi.
In the Chinese calendar, 2013 is the year of the snake. For businesses around the world it is set to be the year of the renminbi. If you’re already doing business with China, or considering it in the future, there could be real advantages in being renminbi ready. A recent HSBC poll of Chinese companies estimated that 33% of China’s international trade will be RMB denominated by 2015.* HSBC is the leading international bank for RMB. When you are ready to embrace the renminbi, talk to HSBC. A new global currency is emerging. Be part of it. To find out more visit www.hsbc.com/rmb Issued by The Hongkong and Shanghai Banking Corporation Limited, which is incorporated in the Hong Kong SAR with limited liability. *Base: 692 HSBC China corporate customers; RMB users and non-users; August 2012.
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27876 BIA Brand 2012 RMB _Orient Magazine
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colour CMYK
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Contents
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PRESIDENT’S MESSAGE
13
EXECUTIVE DIRECTOR’S MESSAGE SPECIAL FEATURES
47 21
14th Annual Business Awards In Focus: Thomas Friedman
FEATURES 17
Can the Rupee’s Slide be Stopped?
28
Security Issues Brought on by the Wave of BYOA
31
Social Media in the Workplace: What can Companies Learn from the Whitmar Case?
34
Resident or Non-Resident?
37
Taken by Surprise
40
Renovate or Rebuild?
UK Trade & Investment 42
Investors in Low-Carbon Electricity set to Benefit from Growth Opportunity the UK Offers
44
Keeping Sight of the Bigger Picture
AT THE CHAMBER
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Britain in South East Asia News
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EU-ASEAN News
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Business Group News
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Sterling News
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Corporate News
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Members’ Offers
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Events
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Events Calendar
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W W W. B R I T C H A M . O R G . S G
British Chamber of Commerce, Singapore Sponsors PLATINUM SPONSOR
GOLD AND DIVERSITY SPONSOR
SILVER AND BREAKFAST CLUB SPONSOR
SILVER SPONSORS
GOLD SPONSOR
BRONZE SPONSORS
BRITCHAM BOARD: PRESIDENT: Hugo Walkinshaw: Deloitte Consulting SE Asia VICE-PRESIDENTS: Andrew Vine: The Insight Bureau Peter Allen: Pacific Century Group TREASURER: Dominic Nixon: PricewaterhouseCoopers HONORARY SECRETARY: Damian Adams: Simmons & Simmons EX-OFFICIO: Judith Slater: British High Commission Mark Howard: British Council BOARD MEMBERS: Andrew Thomas: Ogilvy & Mather Singapore Anthony Lucas: Ernst & Young Solutions Chris Davie: Rolls-Royce Singapore Clive Christison: BP Singapore David Macdonald: Portfolio Builders David Pugh: The Fry Group Ian Williams: HSBC Bank Peter Hatt: Standard Chartered Bank Richard Burn: Diageo Singapore Robert Williams: British Airways Rudi Geerdink: The Royal Bank of Scotland Sian Brown: Barclays Bank Tim Harris: BT Singapore
Editor: Vipanchi vipanchi@britcham.org.sg
Orient is a bi-monthly magazine published by the British Chamber of Commerce.
138 Cecil Street, #13-03 Cecil Court, Singapore 069538 Tel: +65 6222-3552 Fax: +65 6222-3556 Email: info@britcham.org.sg www.britcham.org.sg
© All rights reserved.
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COMMITTEE CHAIRPERSONS: Events & Sponsorship: David Macdonald External Affairs: Steve Puckett Membership: Andrew Vine Sustainability and Responsibility: Richard Burn Diversity: Simon Croxford BUSINESS GROUP CHAIRPERSONS: Energy & Utilities: Damian Adams Entrepreneur & Small Business: Peter Seligman Financial Services: Patrick Donaldson IT and Communications Technology: Henry Farahar Leadership: Peter Hatt Creative Industries: TBA Professional Services: Martin Riddett Property & Construction: Richard Warburton Scottish Business Group: Jason Grant Shipping Transport & Logistics: Neil Johnson Women in Business Group: Gwynne Masters Young Professionals: Miles Gooseman MANAGEMENT TEAM: Executive Director: Brigitte Holtschneider Accounts Manager: Sabitha Munnangi Business Services Manager: Jennifer Hainsworth Events Manager: Tiffeny Kua Membership Manager: Katie Hudson Membership & Events Assistant Manager: Emi Hosono Marketing & Communications Manager: Vipanchi Marketing & Communications Executive: Venges Nathan Office Administration Executive: Anna C Garciso
The views and opinions expressed or implied in Orient are those of the authors or contributors and do not reflect those of the British Chamber of Commerce, its officers or editorial staff. No reproduction of articles without the prior permission of the Chamber. Unsolicited transparencies and articles are sent at owner’s own risk and the
Chamber accepts no liability for loss or damage. Copy is not for sale and images belong to their respective owners. They are for illustrative purposes only, and no copyright infringement is intended. Sub-edited, designed and printed by:
www.novusasia.com
Contact: Simon Cholmeley simonc@novusasia.com Design: Kevin Ong kevinong@novusasia.com Khairunnisa khai@novusasia.com Sub Editors: Chua Kim Beng kimbeng@novusasia.com Iliyas Ong iliyas@novusasia.com Creative Services: Kwan Gek Lian gek@novusasia.com
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President’s Message
W W W. B R I T C H A M . O R G . S G
Dear Members, We have now entered the busiest time of the year for both the Chamber and for Singapore, with a significant number of social and business events taking place across the city. Recent events that we have hosted include the Chamber’s F1 Sky-High Networking evening at the Tower Club. This year, we were delighted to welcome as our guest speakers Dr Geoff McGrath, Managing Director of McLaren Applied Technologies, and Chris Murray, Head of Marketing for the Williams team. The audience was given a fascinating insight into the world of F1, the technology behind it, and how that technology is now being used to drive commercial success in the broader business world and underpin a number of sustainability initiatives. Many thanks to Geoff and Chris, as well as to our sponsors and supporters for making the event so successful.
Hugo Walkinshaw
President, British Chamber of Commerce
The 14th Annual Business Awards on October 3 this year was a huge success, and saw more than 300 people attend the ceremony and formal dinner. I would like to thank our honoured guests, Senior Minister of State for Finance and Transport Mrs Josephine Teo, British High Commissioner HE Antony Phillipson, and keynote speaker Lord David Puttnam, UK Prime Minister’s Trade Envoy to Vietnam, Cambodia and Laos. I also thank our sponsors and supporting organisations for their continuous partnership over the years. The worthy finalists and winners were commended in the media; The Straits Times even produced a supplement to mark the occasion. On behalf of all members, I would like to once again congratulate the finalists, winners and the many nominees for their participation. Beyond events, significant progress has been made with the launch of the Overseas Business Services initiatives, details of which you will find in our Executive Director’s message. The Chamber has embarked on a digital revamp programme to provide members with a better user experience and a sound platform to exchange knowledge. The launch of our new-and-improved website will mark yet another milestone in the Chamber’s success and reinforce our core strategy: “Building Networks, Connecting Business, Creating Opportunities.” Finally, as the end of the year fast approaches, we look forward to celebrating the splendour of the Orient with the BritCham Oriental Ball, when the colourful kaleidoscope of the East is paired with the best of British hospitality. I encourage you to book your tables early and look forward to seeing you then.
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Executive Director’s Message
W W W. B R I T C H A M . O R G . S G
Dear Members, The Chamber’s 14th Annual Business Awards came to conclusion with the grand finale at the Gala Dinner on October 3 attended by 300 finalists and guests. Awards were presented to nine proud winners, among them were four Singaporean companies. I would like to take this opportunity to congratulate all finalists and winners and thank our sponsors and partners for their continuing support. You will find the full report on pages 47 to 54, as well as on the Annual Business Awards website at www.businessawards.com. Further intensifying the close collaboration with UK Trade and Investment, we worked on building up the infrastructure to add Business Services to BCCS’ programme. Our new team member, Jennifer Hainsworth, who joined us in July, has her feet firmly under the table. As such, we are now in a position to launch activities supporting UK SME’s that wish to trade and invest in Singapore. Main efforts during the last two months were put behind establishing contact to all accredited regional Chambers of Commerce in the UK. To date, we have signed MOU’s with seven Chambers, including:
Brigitte Holtschneider
Executive Director, British Chamber of Commerce, Singapore
Liverpool Chamber of Commerce Chamber International West Cheshire and North Wales Chamber of Commerce North Staffordshire Chamber of Commerce South Yorkshire International Trade Forum Hull and Humber Chamber of Commerce Aberdeen and Grampian Chamber of Commerce We integrated the Business Services section on the Chamber’s website to provide background, as well as to direct potential clients on how to engage the Chamber’s services. Adding Business Services to our offering enables us to work even closer with our members offering a variety of new business opportunities. As you know, BCCS engages with members in various Business Groups, ranging from sector specific forums, such as Oil and Gas and Professional Services, to cross sector groups such as Leadership and Young Professionals. We recently added a Women in Business Group, established under the umbrella of the Diversity Committee. The Group is planning its first event in the format of a panel discussion on the November 19 to address the topic ‘Return on Inclusion—Gender Diversity impact on ROI.’ The session will give an overview and insights into how gender balance impacts performance of businesses, and clarify why firms are focusing on gender balance as a priority topic. Please tune in to our regular events updates at www.britcham.org.sg to find out more! I would like to conclude by inviting you, your spouses, your colleagues and friends to join us at this year’s BritCham Oriental Ball on December 7 to launch the festive season. Best wishes,
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Sterling Members
W W W. B R I T C H A M . O R G . S G
SINGAPORE
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Year 8 at Australian International School Amelia and Max developing a Shakespeare podcast for their next Australian Curriculum English assessment.
self expression academic excellence Globally focused learning, their way Come and see for yourself at the AIS Open House Elementary School – Thursday, 7 November 9.30am Secondary School – Thursday, 5 December 10.30am
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Globally focused, distinctly Australian Australian International School Pte Ltd is registered by the Council for Private Education. CPE Registration Number 199204405H. Period of Registration 6 July 2011 to 5 July 2015.
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Feature
W W W. B R I T C H A M . O R G . S G
Can the Rupee’s Slide be Stopped? By Sanjay Mathur The Indian government has implemented to stabilise its currency, but the jury is still out as to how effective they will be.
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ndia’s economy and currency has taken a battering, yet the worst of rupee depreciation should now be behind us. Stability should return, though a more meaningful appreciation of the rupee is still some distance away. The Indian currency is the worst performer in Asia so far this year—plummeting to record lows against the US dollar—the stock market fell by 10% in a month, and bond yields have surged as investors took flight. The slide in India’s markets are part of a wider exodus of foreign capital from emerging markets, prompted by news that the US Federal Reserve is considering scaling back its bond-buying stimulus. That
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has raised concerns about India’s ability to finance its current account deficit, leading Prime Minister Manmohan Singh to insist the country had adequate currency reserves and was not heading for a crisis. The irony is that the Indian government has been implementing a raft of measures to address this very issue. Three important developments in June and July point to a more stable future for the rupee. First, efforts to slim the trade deficit by slowing precious metal imports have shown early results. India’s trade deficit narrowed to US$12.3 billion in July compared with an average US$17 billion in the previous six months after the Reserve Bank of India (RBI) introduced measures to restrict gold imports.
Import financing for gold and gold imports by trading houses (above that needed by jewellery exporters) are restricted. These measures follow a ban on margin financing for gold imports and the further raising of import tariffs, which are likely to be felt from September. Second, the RBI has tightened domestic liquidity. To curb the supply of rupees and shore up the currency’s value, it raised the marginal standing facility and upped bank rates, capped cash injections into the banking system, and increased the banks’ daily minimum cash balance requirements. At the same time, it has managed to discourage speculators by raising the carry-adjusted return over the US dollar. This tightening of liquidity is in line with
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previous IMF prescriptions for countries facing an external crisis. Third, India has introduced a host of measures to encourage foreign direct investment (FDI), a key policy of the government since coming to power in 2004. Regulations on external commercial borrowing have been liberalised and local subsidiaries of multinational corporations can now borrow freely from their parent companies. State-owned oil companies will also have access to external borrowing, while state-owned infrastructure finance companies are being encouraged to borrow from overseas. Such inflows are likely to increase, thanks to the complete deregulation of the rate
Feature: Can the Rupee’s Slide be Stopped?
charged on deposits made by non-resident Indians, making them more attractive by shifting the exchange rate risk from depositor to the bank in which the money is deposited. While inward foreign investment in India is encouraged, outflows are being discouraged. The government must now approve overseas FDI by Indian corporations and, at the personal level, remittances flowing out of India have been capped. Indian residents will also no longer be allowed to buy overseas properties. The government hopes all these measures will restrict the rise in capital flows to US$11 billion, or 0.6% of GDP, bringing down the current account deficit and stabilising the rupee.
India may still struggle to hit a current account deficit target of 3.7% of GDP this financial year as monetary tightening coincides with already weak growth. However, there is a better demand-supply balance in the rupee that should help the currency stabilise in the immediate term. The trade deficit is narrowing, liquidity conditions have been tightened, and the problem of gold imports is being dealt with on a dynamic basis. The most important change is in the policy mindset—rupee stability has taken precedence over all other objectives.
About the Author Sanjay Mathur is the Head of Economics Research, Asia Pacific ex-Japan, at RBS. A version of this article appeared in Bloomberg Brief, Economics Asia on August 29, 2013
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In Focus
W W W. B R I T C H A M . O R G . S G
In Focus: Thomas Friedman The Pulitzer Prize winner answers questions on who and what inspires him, Asia’s economic outlook, and the big issues facing the world today.
8K)
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W
hen The New York Times and Eventicorp approached me with an opportunity to interview Thomas Friedman, for a moment I felt like a pageant winner—then excitement and nervousness set in.
In Focus: Thomas Friedman, New York Times
While many look to you for inspiration and leadership, who do you look up to?
One cannot ask this three-time Pulitzer Prize winner just 10 or 11 questions. He has written six books, thousands of opinion pieces on variety of subjects, and makes thought-provoking speeches. I had a thousand questions popping in my head, ranging from US politics to his life in Beirut, from Saddam Hussain, Iraq and Afghanistan, to Syria, climate change, globalisation and the IT revolution... phew! And that’s just the top few subjects I had in mind.
I am blessed by having many friends who provide me a lot of inspiration and intellectual nourishment. Professor Michael Mandelbaum at Johns Hopkins; Dov Seidman, the author of the book How; Professor Larry Diamond at Stanford; David Rothkopf, who runs Foreign Policy magazine; and Professor Yaron Ezrahi at the Hebrew University are a few. At the leadership level, I am one of the many admirers of Nelson Mandela. More and more I respect his leadership on respecting pluralism, whether political, racial or religious. The world needs a lot more of that.
After three weeks of narrowing down thoughts, questions and opinions from my trusted few, I finally zeroed-in on these questions, which might be useful for the readers of Orient. Here is what Friedman had to say:
The world has advanced significantly since you wrote The World is Flat 3.0. If you were to write a follow up, what would you include in version 4.0?
— Vipanchi Dinavahi
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The biggest change is that the world has gone from connected to hyper-
connected, and from inter-connected to interdependent. These are differences of degree that are differences in kind. As I have written: it starts with the fact that globalisation and the information technology revolution have gone to a whole new level. Thanks to cloud computing, robotics, 3G wireless connectivity, Skype, Facebook, Google, LinkedIn, Twitter, the iPad, and cheap Internet-enabled smartphones, the world has gone from connected to hyper-connected. This is the single most important trend in the world today. And it is a critical reason why, to get into the middle class now, you have to study harder, work smarter, and adapt quicker than ever before. All this technology and globalisation are eliminating more and more ‘routine’ work—the sort of work that once sustained a lot of middle-class lifestyles.
Asia has perhaps been the biggest beneficiary of globalisation and hyper connectivity. What
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W W W. B R I T C H A M . O R G . S G
transformations do you foresee in Asia’s growing economy?
I am not deep enough into the Asian story right now to predict, but I will say this: Asia’s strong emphasis on infrastructure, education and exportoriented economies will serve it well in the 21st century. These are strong assets whatever direction technology takes. But to the extent that Asia lags in unleashing the creativity and freethinking of its youth, it will pay a price.
Much like Sir Ken Robinson, your views on education question the current education system and its impact on future generations. In a business context, a generation gap presents a similar challenge. How can business leaders address this and drive success within their organisations?
The short answer is that the pace of change today has become so fast that a gap has opened between educational institutions and business and industry.
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Schools cannot educate students fast enough and adequately enough for all the new jobs and multiple skills being demanded by business. We need business executives to be much more intimately involved in education and educators more intimately tied in with business. Each needs to be inside the other’s world more.
With more Chinese firms looking to invest overseas, how favourable is the environment in the US?
The biggest change is that the world has gone from connected to hyper-connected, and from inter-connected to interdependent. These are differences of degree that are differences in kind.
America still has the best intellectual property and commercial protection laws, the best rule of law, and the best system of higher education. I think the vast majority of Americans continue to welcome Chinese investment.
Vladimir Putin’s New York Times oped on Syria received a lot of attention. Firstly, what is your reaction to the letter? Secondly, in your opinion, should China be more vocal about the current situation in Syria?
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In Focus: Thomas Friedman, New York Times
I have long believed that China needs to be less of a free-rider on the global system, and more of a stake-holder, taking responsibility for upholding it. China is growing more dependent on Middle East oil, while America is becoming increasingly independent of it. Obviously, I did not agree with Putin. There was some real nonsense in there about how the rebels in Syria launched the poison gas, not the regime. But his column got more than three million hits! I have long believed that China needs to be less of a free-rider on the global system, and more of a stake-holder, taking responsibility for upholding it. China is growing more dependent on Middle East oil, while America is becoming increasingly independent of it.
In your book Hot, Flat and Crowded, you suggest the need for “a Green President and a Green New Deal, spurred by the Greenest Generation.� How well do you think the current US president has navigated political obstacles to commit himself to the climate change? I would give [US President Barack Obama] a B. He has been weak in
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W W W. B R I T C H A M . O R G . S G
shaping the public dialogue on climate change. He has run away from it. But on substance you have to give him high marks for using the Environmental Protection Agency to pretty much make it impossible to build another coal-fired power plant, and you have to give him credit for his doubling of mileage standards for American-made cars between now and 2025. That is driving a lot of clean power innovation. Both of these will pay lasting benefits.
crowd funding and its future? Will traditional funding channels, such as venture capitalists and loans, become obsolete?
You call yourself a “compassionate flatist,” advocating the removal of economic or political barriers to trade. What is your opinion on
At a recent leadership conference, you said, “The world is going to be divided into high imaginationenabling countries (HIE) and low
I think this whole sharing economy— AirBnB, Kickstarter, Indiegogo—is going to be huge. We are just scratching the surface. Learning how to navigate that world and tapping it as source of income is going to be critical to staying in the middle class, or gaining access to the middle class, in the 21st century.
imagination-enabling countries.” Which countries do you think are HIEs today? Where does Singapore stand?
Well, it is not only countries; it can be regions and even cities. As a country, America certainly remains the world’s most effective HIE, and we have the companies to prove it. I would put Singapore in the top third of the world— really strong on fundamentals and execution, but still lagging in stimulating start-ups.
Thomas Friedman will be speaking at Global Forum Asia on “How Technology and Innovation Are Changing Every Aspect of Doing Business” on October 25, 2013, at The Four Seasons Hotel, Singapore. For more details, please go to www.nytfriedmanforumasia.com.
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I like to try new foods and at Stamford, I know the food cooked by Chef Emmanuel Stroobant will be healthy and nutritious, helping me be the best student I can be. Stamford is a world-class school with over 50 nationalities of students from 2 years old through High School, offering daily Mandarin and Spanish and the rigorous IB Program enhanced by American standards.
Open House on Friday, November 8th Register at www.sais.edu.sg
+65 6602 7247
www.sais.edu.sg
Stamford American International School CPE Registration Number: 200823594D Period of Registration: August 10, 2010 to August 9, 2014
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Feature
Security Issues Brought on by the Wave of BYOA Four Tips to Ensure Maximum Mobile Security By Michael Eberhard Market growth of mobile devices remains strong. More and more workforces are adopting mobile devices such as smartphones and tablets. Enterprises are refining their corporate strategies to take mobile adoption into consideration. This includes the company’s internal business process, IT infrastructure, internal application requirements and even how business is conducted externally.
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he concept of Bring Your Own Device (BYOD) is making significant inroads in business world. According to Forrester’s 2011 Q4 Forrsights Workforce Employee Survey, around 46% and 18% of information workers in Asia Pacific use their smartphones and tablet devices, respectively, for work during a typical day. These figures are even higher in Singapore: 65% and 21%, respectively. In fact, in a typical week, 49% of information workers from enterprises with more than 500 employees in Singapore need to use tablets to accomplish their daily work within corporate offices, while 75% of information workers use smartphones for work.
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The reality is that the majority of employee-owned mobile devices have consumer applications installed. As a business leader, if you are embracing BYOD, then you need to also consider how you intend to manage Bring Your Own Apps (BYOA). This trend represents an increasing number of third party apps that are being used by employees in the workplace—and are even being accessed over the corporate network—but are not managed by any corporate policy. There are currently about two million apps available for download, with 70,000 apps in Windows Phone Marketplace, 400,000 apps in Google Play, and 600,000 in the Apple App Store. If just a small
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percentage of those were being accessed over the corporate network, this may become a challenge to your IT department. Without a proper policy in place, the company cannot harness the value of these apps without simultaneously exposing themselves to risk. Enterprises can protect their organisations from mobile security issues in the increasing adoption of BYOD and BYOA in the following ways: 1. Adopt mobile device management: While BYOD is gaining popularity, organisations may allow employeeowned devices to operate inside the corporate firewall due to better data protection and configuration setting capabilities through the installation of mobile device management software. The system supports and manages employee-owned mobile devices across the enterprise securely. There is no loss of control to IT and the enterprise can still extract the benefits of reducing support costs and operation risks. 2. Balance between flexibility and risk: BYOA offers flexibility to employees for using their own mobile devices for work purposes, including greater convenience, faster response, and cost savings to companies, because the device and subscription of cellular service is borne by employees. However, organisations should be cautious of the potential risks associated with this trend. Companies embracing BYOA in corporate policy are advised to conduct regular risk assessment to secure data protection.
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Feature: Security Issues Brought on by the Wave of BYOA
3. Never think security problems are under control: Mobile users are advised to periodically review and upgrade any data protection software. Users tend not to read privacy policy before installing apps, being unaware that personal data on mobile phones could be disclosed to program suppliers; nor do they install anti-virus software and enable auto screen lock. Stronger public awareness of the importance of data protection is advised. 4. Protect sensitive data on your side of fence: Employees are advised to constantly solicit opinions from the company or trusted and experienced outsiders so that they can make sure their mobile devices are absolutely free of malware, being informed of where important data is saved, and how it is protected. Companies are advised to provide ongoing training to employees so that they are attuned to the risk of threats, from malware to phishing messages. To conclude, it is very important to partner trusted companies that have clearly demonstrated leadership and provide secure, enterprise-ready, multi-platform mobile applications for your business. A successful BYOA strategy follows when a company can provide apps that employees want to use while the IT department can also manage them. It is essential that a balance be struck between the needs of employees and the business.
About the Author Concur is a leading provider of integrated travel and expense management solutions. Our adaptable cloudbased and mobile solutions help companies and their employees control costs and save time. For more information, visit http://www.concur.com.sg.
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Feature
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Social Media in the Workplace:
What can Companies Learn from the Whitmar Case? By Ashley Hurst & Jack Gilbert
With social media being increasingly used by companies big and small, what can businesses do to ensure that they continue to own and maintain their presence on these platforms when staff come and go? In recent years, the use of social media by businesses and their employees has boomed. No longer simply a private activity, social media has become integral to the marketing and communications strategies of all large companies, with an estimated 11 million people in the UK now using LinkedIn to network with fellow colleagues and customers online. But the exponential rise in the use of these platforms at work has led to a number of unresolved legal questions. Chief among them is who owns social media accounts and what companies can do to prevent social
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media misuse by former employees. The recent case of Whitmar Publications Ltd v Gamage & Ors [2013] EWHC 1881 (Ch) sheds some light on these issues. However, we will have to wait for the English courts to fully consider these issues.
The Whitmar Case
In the Whitmar case, the defendants set up a rival publishing company, Earth Island, while still employed by Whitmar. In addition, they had taken business cards that belonged to Whitmar, as well as databases of its customers. Whitmar’s LinkedIn groups also appeared to have
been used to e-mail a large number of individuals to attend an Earth Island event at a bar in Leicester Square. In his judgment, Mr Peter Leaver QC commented, “Ms Wright [one of the defendants] was responsible for dealing with the LinkedIn groups as part of her employment duties at Whitmar. Those groups operated for Whitmar’s benefit and promoted its business, and Ms Wright used Whitmar’s computers to carry out her work on the LinkedIn groups.” Even though none of the three defendants
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Feature: Social Media in the Workplace: What can Companies Learn from the Whitmar Case?
had any contractual post-termination restrictions on dealing with Whitmar’s clients, the judge granted an injunction restraining them from dealing with any of the contacts whose names appeared on the business cards. He also ordered them to facilitate “exclusive access, management and control” of various LinkedIn groups to Whitmar, and not to access or do anything that inhibited or prevented Whitmar from accessing the LinkedIn groups. The judge did not, however, go into any great legal explanation for his decision other than that the claimant was more likely than not to succeed at trial on the basis that the company databases being used amounted to confidential information. This interim decision follows a similar approach taken in Hays Specialist Recruitment (Holdings) Limited v Ions [2008], where the court ordered the defendant, a recruitment professional who had left Hays to set up a rival business, to disclose LinkedIn business contacts that he had acquired during his employment at Hays and was using to contact clients and customers from Hays’ confidential database.
What Does Ownership of Social Media Accounts Mean? In order to consider the question of social media ownership, it is necessary to break down the component parts of social media accounts.
Firstly, there is the hosting platform, which is owned and operated by the social media platform operator (for example, LinkedIn or Twitter). The platform’s terms of use govern the basis on which users open and use social media accounts, and such accounts can generally be closed at will by the platform operator. In this respect, the social media accounts are property of the platform. So, for example, LinkedIn’s terms of use state, “The profile you create on LinkedIn will become part of LinkedIn and except for the information that you licence to us is owned by LinkedIn. However, between you and others, your account belongs to you.” They also prevent users of LinkedIn from permitting others to use the account and from selling, trading or transferring their LinkedIn accounts to another party. If employees use LinkedIn on behalf of their employers, the LinkedIn terms of use also
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provide that the individual as well as the company is bound by the terms. However, this does not affect the fact that, ultimately, the property in a LinkedIn account belongs to LinkedIn. Secondly, there are the usernames and passwords required by users to operate social media accounts. These pieces of information are not property as such but can amount to confidential information, which is protectable both through the equitable doctrine of confidence and through contract. Thirdly, there is the content of material uploaded or posted onto the social media account, including photos, articles and blog postings. Much of this material, including tweets of 140 characters or fewer, is protected by copyright and owned by the user or the company or person that commissioned the content. However, most social media platforms provide a very wide licence for the platform and often other users to make use of this content. Fourthly, and perhaps the most complex issue of them all, is who owns the contacts
or followers generated by the social media user. While there is no property right in individual contacts or followers, a database of contacts or followers may be protectable as a copyright work under section 3 (a) of the Copyright Designs and Patents Act 1988 or as a sui generis database right under Regulation 13 of the Copyright and Rights in Databases Regulations 1997, both of which implement the EU Database Directive. The claimant in the Whitmar case relied on these database rights, although the injunction appears to have been granted more on the basis of confidentiality than database rights, so we will have to wait for another day to get full guidance on those issues. So there is no clear and simple answer as to who owns a social media account. The answer for companies is therefore to impose restrictions on social media use through the employment contract. These problems are of course not unique to the UK. In the 2011 US case of PhoneDog v Kravitz, mobile
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anything good has come of this, I hope it’s that other employers and employees can recognise the importance of social media... good contracts and specific work agreements are important, and the responsibility for constructing them lies with both parties.”
Blurred Lines
Although contractual provisions can help, it will not always be obvious which social media accounts are operated for the benefit of the company and which are purely personal accounts; many Twitter accounts are a combination of the two.
phone website PhoneDog sued former employee Noah Kravitz, alleging that he had improperly taken both the control of his Twitter account and approximately 17,000 followers with him when he left the company. During his employment with PhoneDog, Kravitz’s Twitter handle was ‘@ PhoneDog_Noah’, which he changed to ‘@ noahkravitz’ upon leaving. Despite Kravitz’s claim that he had done so with the blessing of his former employer, a dispute over back pay led to PhoneDog seeking damages of $2.50 per follower per month. While that suit was ultimately settled, it is a clear warning to employers about the problems that can arise if social media ownership provisions do not form part of the employment contract. After announcing the settlement, Kravitz said, “If
This distinction is likely to become increasingly blurred as mobile and tablet computing continues to grow while employers embrace flexible working arrangements and BYOD schemes. The practical solution for companies is therefore to take pro-active steps to identify the social media assets that are potentially important or valuable to the business, and to put appropriate frameworks in place so that both employer and employee know exactly where they stand. These measures will differ for each business, but employers may wish to consider the following: • Appropriate designation Companies should consider introducing appropriate policies concerning when employees may set up accounts in their own name or use the name of the business (for example in their Twitter handle). • Duplication of contacts Many professionals use social networking sites such as LinkedIn to develop a large network of contacts, clients and customers, often from a combination of employers. It may be impractical to prevent all employees from taking these valuable networks
with them upon exit, but employers can at least put in place practices to ensure contacts developed while employed by the company are copied onto the business’ own databases. • Disassociation of opinions While disclaimers will have little relevance to the liability of companies for material posted by their employees in the course of their employment, disclaimers that disassociate the company from the views expressed by the individual can be useful in at least distancing the company from any errant views expressed. This will not always be appropriate, however, particularly when social media accounts are used to speak on behalf of the company. • Pre- and post-exit obligations If employees administer social media groups or accounts purely for the benefit of the company, the company should retain the right to ensure that usernames and passwords are retained within the company, and changed upon the exit of the employee. Further, while it is common for employees to identify their employer in their LinkedIn and Twitter profiles, employers should have contractual provisions requiring employees to take steps to make clear that they are no longer employed by the company and, if appropriate, remove copyright material posted during the course of their employment.
Conclusion
Examples of litigation on these issues may be few and far between at present, but many cases are brewing. The point is that it becomes much harder to enforce social media ownership after employees leave than when they are still employed; harder still if clear contractual provisions are not in place that survive the employee’s exit. There is therefore no better time for employers to be pro-active and put steps in place to ensure that they really do own their online presence.
About the Authors Both Ashley Hurst and Jack Gilbert work in the Commercial Litigation department at Olswang LLP. Hurst is a Partner while Gilbert is an Associate.
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Feature
Resident or Non-Resident? By Martin Rimmer The new Statutory Residence Test is now in force, and—make no mistake—all Britons are affected. Find out exactly where you stand.
The Statutory Residence Test: A New Era for British Expatriates
Few would have thought that when the Government started their consultation on introducing a legal test for personal residence back in June 2010, it would take so long to get something concrete on the statute books. On July 17, the Queen gave Royal Assent to the Finance Act 2013 and, with it, Schedule 45, the Statutory Residence Test (SRT). For those who have not been following these developments, the SRT entered into force on April 6, 2013, and provides a
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framework that is legally binding on you, and allows HM Revenue & Customs the means to decide whether you are resident or non-resident for UK tax purposes year on year. The importance of this can hardly be understated, as the SRT directly impacts every single Briton in the world to a greater or lesser extent. For almost three centuries, the rules on whether someone was resident or not has been a muddle of limited statute law, unreliable official guidance, and a large body of case law, much of which hardly reflected the
globally mobile lives we now lead, which then led to considerable confusion and uncertainty. On April 6, 2013, much of that old uncertainty disappeared, and the rules as you knew them ceased to apply, thus affecting something as fundamental as your financial wellbeing. Thus, we all need to sit up, take note, and work out what the changes mean for us. After all, if you are resident in the UK, you are likely to be subject to tax on your worldwide incomes and gains. If you are not, you could well be completely exempt.
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Time Work Abroad.’ Broadly, this requires you to work for an average of 35 hours per week outside of the UK and to hold your actual presence and work done in the UK to within certain parameters. If you meet one of these conditions, no other part of the test applies, and you are nonresident for that year, regardless of any other consideration at all. If you do not meet one of these conditions, you must move on to the next part of the test.
Automatic Residence Test
You are considered resident in any year in which you meet one of the following conditions: • You spend at least 183 midnights in the UK, or • Your only home is in the UK, or • You meet the conditions to qualify for ‘Full Time Work in the UK.’
In summary, the SRT is split into three broad tests:
It stands to reason that anyone who is living and/or working abroad can usually ensure that they do not trigger residence until this part of the test. If you meet none of the conditions in the first two parts of the test, your residence position is decided on the basis of the third and final part.
Automatic Overseas Test
Sufficient Ties Test
The purpose of this article is to give you a brief tour of the main points as a primer to those sessions.
You are considered non-resident in any year in which you meet one of the following conditions: • You spend fewer than 46 midnights in the UK (16 if you have been resident in one of the last three tax years), or • You meet the conditions to qualify for ‘Full
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This test works on the principle that the more ties you have to the UK, the easier it must be for you to become resident. The way they do this is to ask four questions. If you answer “yes” to any of these questions at any stage in the tax year, you have that tie. The questions are:
• Do you have accommodation that is available for your use in the UK? • Do you have a spouse or minor child who is treated as resident in the UK? • Have you spent at least 91 midnights in the UK in either of the two prior tax years? • Have you worked in the UK for at least 40 days in the tax year? Each of these questions needs to be ‘unpacked’ so that you understand what ‘accommodation that is available,’ ‘treated as resident’ and ‘work in the UK’ actually means. For those who have been resident in the UK in at least one of the last three tax years, a slightly variation on the below applies. However, for those who have not, the following numbers of midnights of presence in the UK are permitted, while remaining non-resident:
Number of Ties
Maximum number of midnights you can spend in the UK and remain nonresident in a tax year
0 or 1
182
2
120
3
90
4
45
As you can see, this leaves quite some scope for spending time in the UK, provided that, in so doing, you don’t trigger the ‘only home’ part of the Automatic Residence Test.
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All in the all, the SRT is good news. It creates a much greater level of certainty that was hopelessly absent before, and establishes a framework which is intuitive, sensible, and allows for a good deal of flexibility year on year. However, it is not without its problems. What I am finding as I advise clients is that we need to take real care over definitions, some of which are very precise, while others are not precise enough. For example, the Automatic Residence Test places real importance on what a ‘home’ is. If you think about it, that is a very difficult word to define as precisely as we would need for it to mean anything for tax purposes, and the guidance given in the SRT is a little hollow, to say the least.
About the Author Martin Rimmer is a Senior Tax Manager at The Fry Group. He specialises in residence, domicile, inheritance tax planning and tax-efficient wealth structuring and
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Feature: Resident or Non-Resident?
Also, as a result of codifying the general tests, the Government has also laid down the conditions that need to be met to break or achieve residence in the UK midway through a tax year. This is actually the most complicated part of the test, and it is fair to say that the rules on this point have tightened considerably. The Government has established eight ‘cases’ in which ‘Split Year Treatment’ can apply, and if none of the cases applies to you, you will be treated as resident during the whole tax year of departure from or arrival in the UK. Suffice to say, careful planning is now needed to ensure that you really benefit from the right to split a tax year into a period of non-resident and resident status.
protection. Based in Singapore, he joined The Fry Group in 1999 and now has responsibility for Private Clients throughout South East Asia, providing bespoke UK tax planning and compliance solutions,
This planning must be undertaken in the tax year before you move back to the UK. This is vitally important if you are to avoid being taxed in the UK on worldwide income and gains throughout the whole of the year of arrival or departure. Finally, as this is such an important issue, I encourage you to share this article and details of our seminar to as many British friends and colleagues as you can. Please do not take it as a given that they already know about the SRT: I have found that many people who have connected with me recently simply have not been able to keep pace with the developments.
opinions and technical briefings.
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Feature
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Taken by Surprise In today’s economic environment, expat packages have been affected, so make sure you know exactly what medical benefits you are entitled to so as not to be surprised when you are discharged.
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hil* had recently relocated to Singapore with an Employee Benefits package when his youngest child began having reoccurring bouts of tonsillitis. During a particularly severe case, the attending paediatrician recommended a tonsillectomy. Knowing his medical benefits extended to his dependants, Phil did not hesitate to schedule his son in for the next available appointment with the surgeon that same week. After the successful surgery, Phil and his son went to check out at reception, only to discover that his son’s insurance policy
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did not fully cover the $13,200 bill. Upon inspection of the Letter of Approval by the insurer, he saw that the limit of outpatient surgery for a dependant was capped, and the total amount the insurer would pay was $7,688, leaving Phil with a $5,512 out-of-pocket expense.
departments dealing with expats avoid having to explain the medical benefits in depth, leaving the employee to uncover any shortfall in required coverage. In some instances, this occurs at time of treatment, or in Phil’s case, it was at hospital reception check out.
Phil’s experience is not uncommon in Singapore, where the on-going credit crunch has seen many companies shift expats to local packages with reduced medical benefits (such as excluding cover for family members and low limits on covered items). Most HR
Although a single employee dissatisfied with this benefits package is not unusual, the negative impact for a company when word-of-mouth of an insurance horror story spreads, especially among a community of expat staff, can be detrimental.
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Feature: Taken by Surprise
Instead of lowering the level of non-salaried benefits, a cost-effective solution that works for many companies is to offer a standard salary and package it together with high-end medical benefits in the context of an employee’s total benefits package. Reduced morale and a sense of distrust are just mild emotions employees may feel towards their employer once they find out they are not adequately covered. If the affected company does not appropriately justify the benefits or rectify a particular situation, one or more employees may quit or take damaging action against the company. These instances lead to poor staff retention. Staff attraction also suffers, even though limiting employee benefits package could allow some flexibility for employers to offer higher salaries. However, the downfall of this practice is that it encourages employee loyalty to the biggest pay check. Instead of lowering the level of nonsalaried benefits, a cost-effective solution that works for many companies is to offer a standard salary and package it together with high-end medical benefits in the context of an employee’s total benefits package. Would key staff so easily leave for a salary increase if their medical expenses would then have to be paid outof-pocket? Would an employment offer look more attractive if comprehensive group medical covering pre-existing conditions were part of the package? The money employers save on salary expense can be used to pay group premiums on a variety of insurance
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products, giving the total rewards package a higher benefit reach, extended by the value of the insurance coverage. Employee satisfaction and loyalty can thus be attained through a smart promotion of the entire package of benefits. A survey by a Singapore job listing website cited Healthcare (32%) as the preferred benefit for job seekers, well above vacation time (25%) and other perks. As accident and illness can strike anyone at any time, most expats want to ensure that their insurance is comprehensive, gives them freedom of choice on what doctors they see, and provides for private care in hospital. Employers that purchase appropriate plans for expatriates with inclusions for repatriation to home country for critical
illness treatment prove that staff wellbeing is a priority for the organisation, and recognise the compromise an employee makes when accepting a relocation offer. Therefore, rather than avoid conversations on employee benefits package, HR departments should use them as an opportunity to increase employee engagement and to distinguish themselves from competitors. From the other side of the table, expats need to educate themselves on what their employersponsored benefits actually cover (or don’t cover) and use them as negotiating tools to maximise their total employee benefits package.
A survey by a Singapore job listing website cited Healthcare (32%) as the preferred benefit for job seekers, well above vacation time (25%) and other perks.
*a fictional name has been used for confidentiality purposes.
Expat Insurance assists individuals and organisations with their insurance needs in Singapore. Ph: (+65) 6401 9201 www.expatinsurance.com.sg
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Feature
Renovate or Rebuild? By Peter Adam
While demolition and rebuilding can unlock the full potential of a site, a full renovation of the building could give the owners substantial cost savings.
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here comes a time when even the best maintained commercial building reaches the end of its useful life. This could be because of its dated appearance, redundant or worn out electrical or air conditioning services, violations of current building codes, or failure to meet the owner’s corporate ecological sustainability requirements. Normally, the building’s end of life is a combination of two or more of these scenarios. At this point, the owner has to make the decision of whether to renovate or rebuild. This decision should be made in relation to the highest and best use of the land on which the building sits. If the zoning, allowable floor area or maximum building height has changed since the building was first constructed, then it may be advantageous to demolish, replan
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and rebuild to take advantage of these planning changes and increase the building’s rentable value. If the planning controls for the site have been relatively static, then it may be an option to renovate the existing building, either retaining the current use or changing the use to suit the prevailing market demand. For example, after the Olympics in Sydney, Australia, in 2000, there was a spate of older and established existing hotel sites that were converted to luxury apartments. During that post-Olympics period, local market forces made it sensible and profitable to divest from the hospitality business and take advantage of a booming residential market. The decision to renovate an existing commercial building can have numerous advantages over demolishing and rebuilding, including:
Cost
There is normally a substantial cost saving in building renovation as compared to demolition and rebuilding. Total building demolition costs can be high (especially in built-up urban areas like Singapore) and can rapidly escalate. Concrete and steel prices are constantly increasing, and can add substantial cost to the overall construction price. Even the most substantial renovation project will normally involve saving and reusing the building’s structural skeleton with a full façade, services and interiors refurbishment. The major structural elements of a new commercial building will account for at least 30% of the total building cost. As such, when this is taken out of the equation, the overall cost will decrease dramatically. The following is a simple case study that compares the cost of a new building against the renovation of an 11-storey commercial building (taken from a project in Singapore currently reaching completion):
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New Build (outside CBD)CBD) New Build- -11-Storey 11 StoryOffice OfficeBuilding Building (outside m2 Rate Description Quantity (m2) Office Area 5,823 $ 3,075 Basement Car Park 1,800 $ 1,750 Total Cost Construction Contingency 5% Total Construction Cost
Cost $ 17,905,319 $ 3,150,000 $ 21,055,319 $ 1,052,766 $ 22,108,085
Renovation - 11-Storey Building (outside CBD)CBD) Renovation - 11 StoryOffice Office Building (outside 2 m Description Quantity (m2) Rate Office Area 5,823 $ 2,600 Basement Car Park 1,800 $ 300 Total Cost Construction Contingency 10% Total Construction Cost
Cost $ 15,139,456 $ 540,000 $ 15,679,456 $ 1,567,946 $ 17,247,402
Cost Difference
28%
Time
Time savings (and hence, additional cost savings) can be substantial when comparing refurbishment against demolition and rebuilding. Controlled demolition of a multi-level building in the Central Business District can take several months before the rebuilding can even begin. Furthermore, the time consuming process of rebuilding the building’s structure can add as much as six to eight months to the construction programme for our example of an 11-storey commercial building in Singapore. When considering time, building owners also have to consider the additional builder’s costs (insurance, staff, site offices, etc.) associated with that time, as well as the lost rental revenue associated with the longer building down time involved in rebuilding.
Ecologically Sustainable Development
It is more ecologically friendly to renovate an existing building rather than demolishing and
About the Author Peter Adam is a Project Director at Savills Project Management in Singapore. Savills Project Management is an international firm
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rebuilding it. Concrete and steel have high embedded energy, and the existing building’s structural frame can usually be retained and re-used, sometimes with very little additional structural work. Even buildings suffering from ‘concrete cancer’, such as rusty reinforcement and spalling concrete, can be successfully refurbished at a much lower cost than demolishing and rebuilding. Renovation, retrofit and refurbishment of existing buildings also represent an opportunity to upgrade the energy performance of a building for its ongoing life. Renovation should involve modifications that improve energy efficiency and decrease energy demand. Energy efficiency renovations will reduce operational costs, particularly in older buildings, as well as to attract tenants and gain a market edge for tenants with corporate environmental commitments. With the Singapore government’s target of greening at least 80% of Singapore’s buildings
by 2030, there are also incentives in the form of additional floor area to encourage the private sector to attain higher tier Green Mark ratings for their buildings. Before an owner can decide whether to renovate or rebuild, a thorough assessment of the existing building must be carried out. This assessment should include a review of the relevant planning guidelines, analysis of the building’s existing structure and services, a review of the building’s environmental performance and how this can be improved. While demolition and rebuilding is sometimes necessary to unlock the full potential of a site, it is always sensible to consider a full renovation of the existing building instead. It may well bring about substantial cost benefits to the owner, and result in the building being reinvented, refreshed and repositioned in the market, ready to create an improved income stream for the future.
offering project management services for new build and retrofit development projects. It delivers up to $1b of projects across the Asia Pacific in any given year.
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British High Commission
Investors in Low-Carbon Electricity set to Benefit from Growth Opportunity the UK Offers By Edward Davey, UK Energy and Climate Change Secretary
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he UK offers investors in electricity and low-carbon energy a safe and attractive market in which to invest over the next few decades. Ambitious reforms to the UK electricity market will open up around £100 billion of new investment opportunities in renewables, new nuclear, Carbon Capture and Storage (CCS) and gas from now to 2020. The UK is already the destination of choice for offshore wind investment, and is ranked 4th most attractive in the world for renewables. The new stable investment regime that we are implementing through the UK Energy Bill provides investors with unrivalled certainty, and long-term contracts provide investors with stable returns for their electricity over decades. In a world of increasing uncertainties and complexities, this really is a first.
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Every nation is grappling with the challenges of delivering vital investment in low-carbon energy, while simultaneously keeping the lights on and ensuring consumers’ bills remain affordable. This is no easy task—indeed, the three objectives of decarbonisation, security of supply and affordability often compete, and may at first glance seem irreconcilable. A significant proportion of the UK’s generation capacity is set to close this decade, and this provided us with the opportunity to renew our energy infrastructure in favour of a clean, low-carbon and more sustainable energy mix. The UK’s Climate Change Act of 2008—the first legislation of its kind in the world— exemplifies our strong commitment to decarbonise, committing the UK to reducing emissions of greenhouse gases by 80%
from 1990 levels by 2050. This legislation, alongside the Energy Bill, which provides the legal framework for decarbonising the electricity sector, achieved overwhelming UK parliamentary support, demonstrating strong political consensus. Through the Energy Bill, we are introducing far-reaching reforms, opening up the electricity market to competition, and new investment, while providing low-carbon energy at affordable prices for consumers. Our reforms introduce long-term contracts called Contracts for Difference (CFDs) for low carbon generation, giving developers and investors in renewables, new nuclear and CCS the price stability they need to invest in UK generation. This in turn lowers the cost of capital, thereby making new low carbon generation cheaper for consumers, developers and investors.
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In addition, the UK Government will introduce a Capacity Market in 2014 to incentivise investment in flexible, reliable power from 2018, and to ensure that adequate electricity remains available in times of exceptional demand. The UK has long enjoyed an excellent investment climate. We have an established history of policy support for the low carbon economy, which places us in a strong position in comparison with other markets. We have already made great progress, with £30 billion invested in renewables in the UK since 2010, creating thousands of jobs up and down the country and beneficial impacts on supply-chains. The London Array offshore windfarm, opened by Prime Minister David Cameron earlier this year, is the world’s largest offshore wind farm, with 175 wind turbines and a capacity of 630MW, providing enough electricity for half a million homes a year. It was built by DONG Energy, Masdar and E.ON—they together invested over €2 billion in the project. For new nuclear, I issued planning consent earlier this year for construction of NNB GenCo’s planned multi-billion sterling pound project at Hinkley Point in Somerset. This summer, we provided potential investors with early certainty of the draft strike prices the UK Government will offer to renewable energy projects under CfDs. We have also published our draft Electricity Market Reform Delivery Plan, a detailed draft of the CfD contract terms and the CfD allocation policy. We are now fine tuning details of how we will implement these reforms with the help of representatives from the electricity industry and investors, and aim to publish our final delivery plan this Winter. Our reforms will provide guaranteed support over the long term, alongside cross-Party political support (the Energy Bill received 396 votes in favour versus eight against in its final debate in the UK House of Commons) and one of the most stable policy environments in Europe. In short, the UK electricity sector is a uniquely attractive global investment opportunity.
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British High Commission
Keeping Sight of the Bigger Picture By Professor Julia Slingo, Chief Scientist, UK Met OďŹƒce
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It also highlights the increasing risks of coastal inundations from events such as Hurricane Sandy, which broke 16 historical storm-tide levels along the US East Coast. Increases in sea level related to climate change have nearly doubled today’s annual probability of a Sandy-level flood compared to 1950. As sea levels continue to rise, coastal communities face a looming crisis with an increased frequency of flood events on a par with Sandy but from storms of less intensity and lower storm surge. The paper’s authors are rightly cautious in not overstating the case for human influences on extremes, in particular those related to extreme rainfall. What is clear is that climate change is already costing us dearly, and that when combined with growing population and urbanisation, is projected to disrupt regional and global energy, food, water and health security.
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e are living in a changing world. 2012 was among the 10 warmest years on record—continuing the long-term trends we have seen in our changing and varying climate. As carbon dioxide levels continue to climb, these changes are not just confined to global temperatures. Keeping sight of the bigger picture shows evidence of a changing world in rising sea levels, melting Arctic sea ice, and shrinking ice sheets. And this evidence is indisputable. Observations across the climate system— from land-based stations and ocean buoys to international satellites—show a warming planet. The fundamental physics is clear: carbon dioxide traps radiation and warms the planet. If we increase carbon dioxide levels in the atmosphere, temperatures will rise and a warmer world will be a more challenging place for us to live in.
In 2012, and again this year, many parts of the world have been affected by damaging and costly extreme events; from major heatwaves, droughts and wildfires to extreme cold, excessive rainfall and flooding. Thousands of lives have been lost, over 100 million people have been affected, and the damages run to tens of billions of sterling pounds. A new paper by scientists from the UK and the US provides evidence that human influences on the climate played a role in the severity of a number of these events. For example, the paper concludes that the frequency of occurrence of the extreme heat experienced in the US during 2012 is four times more likely as a result of human-induced climate change, and that climate change contributed about 35% of the high temperatures in the eastern US between March and May.
The climate system is immensely complex; it is not surprising that as our understanding of it increases, climate scientists will provide new perspectives on the risks we face from climate change. It can often be all too easy to focus on minutiae, to burrow down into the proverbial rabbit hole. Yet to do so risks losing sight of the bigger picture—that the world is changing, and that we play a part.
About the UK Met Office As a world leader in climate science, the UK Met Office plays a central role within the Intergovernmental Panel on Climate Change. Seven Met Office scientists are lead or coordinating lead authors, with numerous other Met Office scientists acting as contributing authors. The UK Met Office is a key contributor to the IPCC Assessment Reports.
For further information on climate change issues, please contact: David Vincent Head, S E Asia Climate Change & Energy Network david.vincent@fco.gov.uk Tel: +65 6424 4200
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At the Chamber
W W W. B R I T C H A M . O R G . S G
14th Annual Business Awards:
Celebrating Business Excellence in Singapore
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At the Chamber: 14th Annual Business Awards > From left: Rudi Greedink, RBS; Hugo Walkinshaw, BCCS President; Lord David Puttnam
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ow in its 14th year, the Annual Business Awards continued to celebrate business excellence in Singapore by awarding the Silver lady to nine deserving winners at a glitzy Gala Dinner on October 3 at the Shangri-la Hotel. Following a rigorous and competitive few months, an air of excitement and anticipation enveloped the 27 finalists as the winners were revealed by BBC presenter Sharanjit Leyl in the presence of the Guest of Honour, Senior Minister of State for Finance and Transport, Mrs Josephine Teo; British High Commissioner, HE Antony Phillipson; and Chamber President Hugo Walkinshaw. Singapore companies swept four out of the nine award categories. Keynote Speaker Lord David Puttnam, UK Prime Minister’s Trade Envoy to Vietnam, Cambodia and Laos, shared his thoughts on the need for genuine leaders for the future of businesses and the world. We are delighted to have once again received support from Singapore’s Economic Development Board (EDB), Singapore Business Federation (SBF), UKTI, British High Commission, EuroCham, as well as our Title sponsor, RBS, and Category sponsors, BP, Chartered Institute of Management Accountants, Cognita, Deloitte, Portfolio Builders and Standard Life.
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From left: Lord David Puttnam, HE Antony Phillipson, Guest, Brigitte Holtschneider, Mr & Mrs Hugo Walkinshaw
For the second consecutive year, our Exclusive Media Partnership with The Straits Times resulted in a successful supplement published on October 4, 2013. The Annual Business Awards have become a highly anticipated event on Singapore’s business calendar. The British Chamber of Commerce, Singapore (BCCS), takes the opportunity every year to recognise the very best in the business world—both companies and individuals. Entries are judged on the following points: a sound business plan, sales and marketing strategy, strong leadership, commitment to innovation, ambition to grow along with demonstrated growth, and financial performance.
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At the Chamber: 14th Annual Business Awards
Here are the winners:
>
Customer Service Excellence
From left: HE Antony Phillipson, British High Commissioner; Hugo Walkinshaw, BCCS President; Lauren Wan, Brewerkz; Mrs Josephine Teo, Senior Minister of State for Finance and Transport
Category Judge Diana Ee-Tan, Board Director, SHATEC Institutes, commented, “Brewerkz has demonstrated over the past 16 years that it has successfully put in place sustainable service strategies that are today the key to its reputation as a provider of excellent customer service. What also makes them a worthy winner is how they have created a rare employee learning programme involving opportunities for their crew to learn through informal post-work conversations, dining out, manager meal and staff pint programmes. In an industry where high staff turnover tends to be the norm, it is indeed impressive that Brewerkz has an average tenure of more than five years among its full-time crew, and lists 25 of its staff members as winners of the 2013 RAS Service Excellence Awards.”
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Exceptional CSR Practice
From left: HE Antony Phillipson, British High Commissioner; Hugo Walkinshaw, BCCS President; Lynn Lee, Resorts World Sentosa; Mrs Josephine Teo, Senior Minister of State for Finance and Transport
Category Judge Dr Kenneth R Richards, Musim Mas Professor of Sustainability, National University of Singapore Business School, said, “Resorts World Sentosa has developed a strong, integrated CSR programme. While many companies paint a layer of CSR on to their existing operations, RSW has developed their operations around CSR. This is demonstrated in two aspects of their programme. First, they do not simply engage in philanthropy or encourage their employess to volunteer time in the community. Rather, they play to their core competencies, using their culinary facilities, their marine aquarium, and their family-oriented activities to serve the community through training programmes, educational outreach, and conservation of the marine environment. Second, their concept of CSR not only reaches out to the community, but works internally as well, showing up in their employment practices, their respect for guests, and their attention to energy efficiency. One can hope that the excellent attitude that they have developed will continue bear fruit as they continue to work on lowering their environmental impact and increasing their positive social impact.”
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Education & Training Excellence
From left: HE Antony Phillipson, British High Commissioner; Hugo Walkinshaw, BCCS President; Malcolm Kay, Stamford American International School; Mrs Josephine Teo, Senior Minister of State for Finance and Transport
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Category Judge Prof Arnoud De Meyer, President, Singapore Management University, said, “While SAIS have still a lot to achieve, it has made considerable progress since opening in Singapore in 2009. It performed better on all criteria than the runners-up. Its strategy is very clear and credible. Its implementation is supported by considerable human and technological resources. The performance evaluation systems are above par. SAIS has made a considerable commitment to Singapore. They also have a clear cut plan for the near future.”
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Innovation in Business
From left: Hugo Walkinshaw, BCCS President; Mrs Josephine Teo, Senior Minister of State for Finance and Transport, Boon Hao Tan, Rolls-Royce; HE Antony Phillipson, British High Commissioner
Category Judge Arun Ulagaratchagan, General Manager, Server & Tools Business, Asia Pacific, Microsoft, commented, “The Rolls-Royce team took the initiative to take a part of their operation that was done pretty much the same way in most facilities around the world, and applied a radically different idea—to use an air cushion to safely and economically move a fully packed aircraft engine that weighs 12 tonnes. They were able to move from idea through implementation, to realise savings and increased safety for their company. Their out-of-the-box thinking and ability to drive practical results is commendable.”
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Inspirational Creativity
From left: Hugo Walkinshaw, BCCS President; Mrs Josephine Teo, Senior Minister of State for Finance and Transport, Margaret Manning & Freddie Heygate, Reading Room; HE Antony Phillipson, British High Commissioner
Category Judge Simon Kahn, Chief Marketing Officer, Asia Pacific, Google, commented, “Excellent integration of creativity into all aspects of the business. Great mix of practical, business focuses with use of digital technologies to create inspirational work for their clients.”
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Outstanding Professional Services
From left: Hugo Walkinshaw, BCCS President; Mrs Josephine Teo, Senior Minister of State for Finance and Transport; Greg Clayton, Kadence International; HE Antony Phillipson, British High Commissioner
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Category Judge Simon Chaly Mah, CEO, Deloitte Asia Pacific, said, “Kadence’s consultancy approach demonstrated a clear focus on providing compelling value for their clients, creating a strong business model based on bespoke methodology and customised client solutions and sustaining it through innovation. Based on the business results outlined in the submission paper, Kadence has delivered relevant and reliable data output and business analysis, which has enabled their clients—a number of which are well-known, established global companies—to tailor their marketing strategies more effectively. The ability to strongly align with their clients’ business objectives and play a pivotal role in clients’ business strategies has served Kadence well in building long-term client relationships, as evidenced by Kadence’s high percentage of repeat clientele. The low staff turnover and consistency in Kadence’s client servicing teams have, in turn, led to stronger client relationships, and speaks well of the commitment from Kadence to their people. Their recognition and reward for their staff is indicative of their belief in the business fundamental that people are key and important assets.”
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At the Chamber: 14th Annual Business Awards
Productivity & Improvement
IECO >
A joint venture between Rolls-Royce & SIA Engineering Company
From left: Hugo Walkinshaw, BCCS President; Mrs Josephine Teo, Senior Minister of State for Finance and Transport, Steve Price, IECO; HE Antony Phillipson, British High Commissioner
Category Judge Douglas Foo, Founder & Chairman, Sakae Holdings, commented, “Clear demonstration of building innovation and productivity into the DNA of the organisation. Shown specified results of some implemented projects and insights into future projects.”
>
Small Business Rising Star
From left: Hugo Walkinshaw, BCCS President; Mrs Josephine Teo, Senior Minister of State for Finance and Transport, Duncan Anderson, Portfolio Builders; HE Antony Phillipson, British High Commissioner
Category Judge Max Loh, Managing Partner for Singapore & ASEAN, Ernst & Young, commented, “Client-centric approach to building the business; clearly articulated strategies to drive the business forward; focus on service excellence and targeted marketing.”
Young Professional of the Year
Through the awards, BCCS aims to raise the profile of businesses that participate and win, and to acknowledge significant achievements made in the previous year. Launched in 1999, the Annual Business Awards has evolved over the years. Since 2011,
companies entering the Awards have been required to showcase Singaporecentric achievements. The Awards are open not only to British companies, but to all Singapore-registered companies regardless of membership to BCCS.
> From left: Hugo Walkinshaw, BCCS President; Jingle Chen, Anamics Creative Group; Mrs Josephine Teo, Senior Minister of State for Finance and Transport; HE Antony Phillipson, British High Commissioner
Category Judge Dr Tan Chi Chiu, Chairman of the Lien Centre for Social Innovation, Singapore Management University, commented, “It is easy for an individual entrepreneur to say they have become successful. It is less common to see one that has made incredible leaps in personal development to produce not only high-quality products, but a company that reaches beyond mere commercial success. This entrepreneur has brought about an evolution of the design industry and changed the mindset in fundamental ways in engaging clients and understanding their needs. It has a lean and efficient team. It reaches out to aspiring professionals through an internship programme that creates opportunities for others, rather than just for herself and her company. Many of her interns have gone on to be successful themselves. It would have been nice to see more in the way of CSR integration within the company, but there are some aspects that are evident, such as in their progressive HR policies and, as mentioned, helping interns. Overall this young professional’s spectrum of achievements is the widest amongst the three.”
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For the last 59 years, BCCS has been a powerful catalyst for forging strong and sustainable business links between Singapore and Britain. We congratulate all our winners, and encourage companies to participate in the next Annual Business Awards.
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True Leaders for the New Globalised Reality By Lord David Puttnam
Like it or not, this new globalised reality is here to stay. It’s been accurately said that ‘countries that do not plan their future tend to do badly when they get there.’
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he American commentator, Thomas Friedman, in an article for The New York Times a few months ago, chillingly but accurately argued, “In the past, workers with average skills doing an average job could earn an average lifestyle.” But, as he puts it, “today, ‘average’ is over.” He went on to say that “everyone needs to find their own ‘extra,’ that special something that makes them stand out in whatever field of employment they happen to find themselves—because the best jobs already require people to have a better education, and more of it, to ensure they make themselves above average.” So I suspect we’ll agree that the pace and scale of change can at times feel bewildering. As a result, we find ourselves navigating a course through what is unquestionably a frighteningly complex
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world. What that will come to mean to our daily lives is not yet entirely clear, but what is certain is the overwhelming need for everyone to raise their game. Like it or not, this new globalised reality is here to stay. It’s been accurately said that “countries that do not plan their future tend to do badly when they get there.” As we peer into this unknowable future, our shared ambition can probably be reduced to the notion of some form of genuinely sustainable society; and we’ve enough experience to know that the key to this is a stable economy— an economy that offers the prospect of continuity, and a tangibly better future for everyone who is prepared to contribute, including those who, for a variety of reasons, find themselves struggling to exist at the margins.
At its best, it’s what we’ve come to call the quest for social justice, the pursuit of which, I would argue, is in the best interest of our families and their secure future. And that type of sustainable civil society is unlikely to come about by accident. To achieve it will require vision, courage and, most of all, leadership. As global events have demonstrated, should we fail to produce a generation of trusted leaders—leaders of character, integrity, empathy and understanding— then we could all too easily find ourselves facing another of those crisis-of-civilisation moments that have bedevilled societies through the ages. In an era of ‘Presidential-style’ politics, we would do well to remember that there is a world of difference between looking
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At the Chamber: 14th Annual Business Awards
good and being good. Our need is for genuine leaders, not those who simply respond to the latest opinion poll, or seek to spot the most recent trend. We need leaders who have sufficient wisdom and courage to spell out exactly what they believe lies ahead—the difficulties as well as the opportunities—and are prepared to help navigate our way through them; leaders who will stop pretending they have all, or even most, of the answers, but in whom we can develop a sufficient level of trust to encourage us to take our own share of responsibility for meeting and defeating the challenges, both known and unknown, of the next 20 to 30 years.
engagement and diplomacy and against a renewal of post-war posturing and threats. We are living through an interesting time, one in which trust is at a premium, in business as much as in statesmanship.
Any worthwhile democracy is not, and never can be, a spectator sport: it requires engagement and a degree of unflinching commitment. I’d like to think that the geo-political developments of these past few weeks would have sent out a powerful argument in favour of patience,
I happen to believe that, in re-discovering it in our own daily lives, we are perfectly entitled to start demanding it of others. I don’t think many people would argue that we have to rebuild global business confidence from somewhere; personally, I can think of no better place to start.
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A very well-respected and senior banker friend of mine suggested that the financial crisis ran out of control the moment bankers ceased to trust each other, when their word ceased to be their bond. So be it a trusted brand, a trusted handshake, or a trusted nation, this very concept of ‘trust’ has re-developed an importance that, as I see it, we fail to nurture at our peril.
Our need is for genuine leaders, not those who simply respond to the latest opinion poll, or seek to spot the most recent trend. We need leaders who have sufficient wisdom and courage to spell out exactly what they believe lies ahead—the difficulties as well as the opportunities.
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Britain in South East Asia News
W W W. B R I T C H A M . O R G . S G
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A Safer, Better World for Children
By Christian Lockyer, Senior Media Officer
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very year, thousands of children are subjected to horrific sexual abuse and exploitation at the hands of child sex offenders. Organisations like the UK’s Child Sexual Exploitation and Online Protection (CEOP) Centre are working to make sure that every child is protected, no matter where they are. By signing CEOP’s International Corporate Charter for Child Protection, your organisation can help make a difference. In March 2013, Britain in South East Asia (BiSEA) agreed to work with CEOP in order to promote the work of CEOP’s International Child Protection Network. The British
Chambers of Commerce in BiSEA encourage your organisation to participate in this charter to protect children across the world. By being a part of the charter, CEOP will help: • develop a policy that explains what abuse and exploitation is; • train staff so they have the tools and resources to make a difference; • identify a lead person who will place protecting children at the heart of your business; • ensure employees are properly checked and supervised where appropriate; and
• ensure your employees treat children with respect. Not only is the charter a great opportunity for companies to demonstrate their commitment to tackle child abuse, it is also a chance to showcase the fact that giving back to the community is part of the company’s overall philosophy. This is your chance for a safer, better world for our children.
For more information, visit www.ceop.police.uk/international or send an e-mail to ICPN@ceop.gsi.gov.uk.
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BiSEA News British Chamber of Commerce Indonesia
The British Chamber of Commerce, Indonesia, is now offering UK-based SMEs the opportunity to speak to some of the most influential and leading business professionals in Indonesia via new video conferencing facilities. Offering you a unique insight into the reality of doing business in Indonesia, you can then efficiently decide if this market is really for you. Save your time, money and effort by signing up for your video introduction to Indonesia today. For more information, please contact: uksme@britcham.or.id
British Chamber of Commerce Philippines
This year, international rating agencies Fitch and S&P upgraded the Philippines to BBB-, the Philippines’ first investment grade rating. S&P has referred to the country as an economic bright spot, while HSBC has forecast that the Philippines could become the world’s 16thlargest economy by 2050. The country’s main industries are electronic components, food & drinks, garments, footwear, tobacco, petroleum goods, metals/minerals and electrical machinery. For more information, log on to http://www.britchamphil.org. For membership inquiries, e-mail members@bccphil.com
British Chamber of Commerce in Cambodia
Interested in business opportunities in Cambodia? The British Chamber of Commerce in Cambodia welcomes visitors to our regular networking events and business briefings. We can provide potential investors with introductions, guidance and the benefit of our experience. BritCham Cambodia works closely with UKTI, the British Embassy, and other Chambers of Commerce to support our members’ success. Visit our website for news, guides and upcoming events. www.britchamcambodia.org
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EU-ASEAN News
W W W. B R I T C H A M . O R G . S G
IPR Help for SMEs If you have dealings in any of the ASEAN countries, there is a new channel of support to protect your intellectual properties.
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he ASEAN IPR SME Helpdesk is an initiative funded by the European Commission. It offers free, confidential advice to European small- and mediumsized enterprises (SMEs) on protecting and enforcing their intellectual property rights (IPR) in relation to the 10 ASEAN countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. To learn about any aspect of intellectual property rights in South
East Asia, visit our online portal at www. asean-iprhelpdesk.eu. For free expert advice on ASEAN IPR for your business, e-mail your questions to question@aseaniprhelpdesk.eu. You will receive a reply from one of the Helpdesk experts within five working days. The ASEAN IPR SME Helpdesk is jointly implemented by DEVELOPMENT Solutions, European Business Chamber of Commerce Indonesia and European Business Organisations Worldwide Network.
To stay up to date on our IPR guides, events, webinars, and other information relevant to doing business in the South East Asia region, please subscribe to our blog (www. YourIPinsider.eu), sign up for our newsletter, and follow us on social media (Twitter, Facebook, LinkedIn).
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At the Chamber: Business Group News
IT and Communications Technology Group Chairperson: Henry Farahar —Sales Director, Unified Communications Group, Logicalis Asia
D
uring my tenure chairing the Information and Communications Technology (ICT) Business Group committee, our mission has been to take the technologies that we represent in our day-to-day businesses and show them as accessible and relevant to all members.
gossip columns. Technology today is most definitely cool. What does this mean for our business? As informed consumers, our businesses can reap the benefits and the efficiencies
technology brings. We hope to continue to show members from all types of companies exactly what topics they can easily and efficiently address, and how you can use technology to your business advantage.
Technology affects all businesses every day, and understanding the challenges and opportunities presented by modern technology is something we have enabled through our events. Previously, technology conversations were reserved for those residing in cold dark server rooms; today this is no longer the case. C-levels don’t need and ‘I’ or a ‘T’ in their job title to demand an understanding of their businesses technology strategy, and that is what our events address for our members. Year on year, the ICT Business Group events grow in size and frequency, and we don’t intend to stop. This year, we have been incredibly lucky to have been introduced to Google’s principles of innovation, the challenges and opportunities of ‘bring your own device’ by Vodafone, and most recently the world of big data as well as the workplace of the future by Microsoft. Going forward, we are planning sessions on social media, the technology of marketing, and cloud computing amongst others, so do join us. These topics and the experiences shared by the supporting companies would not have been of interest to the non-techie just a few years ago, but the world has changed. The consumerisation of IT has permeated to the level that we go to the cinema to see a film about Steve Jobs, and we can read about the private life of Sergey Brin [Google co-founder] in the
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Professional Service Group Chairperson: Martin Riddett —Country Head, Faithful + Gould
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he overwhelming feedback that the Professional Services Group (PSG) committee has been receiving, individually and collectively, is that members of the group—the largest within the Chamber—want every opportunity to meet new business contacts. We have only held three of our direct networking nights at the Crown & Anchor Bar, which is part of the British High Commission. But the pub has established itself as our ‘local’, and the nights have become unique networking events, with the number of people attending growing each time. We have taken every opportunity, right from the first event, to canvas feedback from group members. We want to know what they want, not only from the event, but from their membership of the Chamber.
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We really appreciate the informal and formal feedback that we have received, via conversations and feedback forms filled out at the events. We also really appreciate the fact that so many people took the time to fill out the feedback forms, as we know it is not the most convenient thing to do while you are enjoying the freeflow drinks and the fish & chips buffet, which went down very well at our most recent event! Even the height of the haze didn’t deter around 80 people who came along that night. On a practical level, we responded to feedback about the food and beverage offering at the networking event. The free-flow food-and-drink concept was a direct response to attendee feedback— so we are listening.
On a business level, we are evaluating feedback on what attendees want in the way of networking opportunities at the event. Some of these include allowing some companies to offer short presentations on their companies and services, the chance to set up contact with attendees ahead of the event to ensure they meet, and the presence of relevant guest speakers, among others. As a committee, we are evaluating all the suggestions, and will make every effort to adopt and adapt these suggestions in the most practical manner. So please keep those suggestions and ideas coming, and we look forward to seeing you at our next networking event. Written by Hugh McAtear Individual & PSG Committee Member
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At the Chamber: Business Group News
Young British Chamber Chairperson: Miles Gooseman —Consultant, The Fry Group
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he Young British Chamber (YBC) is fast becoming one of the most popular professional groups in Singapore. Offering a diverse range of opportunities—from mentoring to networking evenings and offsite tours at some hard-to-access places around Singapore—the network continues to go from strength to strength.
There’s more to come in Q4 2013, with plans underway for some exciting mentor series and the immensely popular YBC networking evenings. If this sounds like something you would be interested in, please join us for one of our upcoming events. Visit www.britcham.org.sg for more information, and to find out more
about the YBC committee members. We’d love to get your thoughts on mentors you would like to hear from so feel free to get in touch with any member of the team. Written by Sarah Smith Director, Marketing & Communications, Coutts & Co Ltd
Most people join the YBC to meet new people—both friends and business contacts—get involved in various projects, and interact with different cultures. Members of the YBC come from all over the world, and from a variety of industries and professions. As well as the British Chamber, we work with other chambers, business groups and the UKTI to bring to you unprecedented access to interesting speakers and experiences. The YBC calendar is very busy, and there’s always something going on. Highlights in the last few months alone include a networking evening with a Formula One manager, and the opportunity to sail around the shores of Singapore on a 40ft yacht. Back by popular demand, the twilight sailing evening was a fantastic night. Leaving from Keppel Marina, guests boarded two yachts in perfect sailing conditions. Sailing among the big ships moored off the south coast of Singapore, members watched the sunset before returning to the Marina for a few drinks. The August networking evening was held in conjunction with another business chamber, and was a big success, with many guests attending a YBC event for the first time. The evening included hearing MGI founder Mike Gascoyne talk about his two-decade motorsport career.
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At the Chamber: Sterling News Singapore law firm GLORIA JAMES-CIVETTA & CO. welcomes the new affiliations with international law firm DE LA FUENTE & MARTIN ALONSO (with offices in Malaga, Madrid and Rotterdam), London’s 33 BEDFORD ROW BARRISTERS’ CHAMBERS and ASTREA LEGAL ASSOCIATES LLP (with offices in Mumbai, Pune, Nagpur and Amravati). The new partnerships provide clients with legal expertise in both Asian and European markets, including local and international cross-border family law matters, civil, commercial and corporate law matters and criminal law (white collar and blue collar crimes). The law firm also welcomes the addition of Ms Alana Morgan as an Australian qualified lawyer admitted in South Australia and New South Wales, and Siti Azriah, a newly admitted UK law graduate qualified to practice in Singapore. As of July 15, 2013, the law firm has also been accredited to practice Collaborative Family Law. The law firm now has three new websites :www.gjclaw.com.sg; www.singaporedivorcelawyer.com.sg; www.singaporecriminallawyer.com
UK-based global built asset consultancy EC Harris announced today the recruitment of two industry veterans as Partners and Regional Service Leads for the Asia-Pacific Contract Solutions team based in Singapore, covering the Oil & Gas and Energy sectors. With the growth of Oil & Gas projects in Asia, this new leadership will fortify EC Harris’ reliability in resolving construction partners’ disputes. John Lancaster and Matthew Wills join EC Harris from Turner & Townsend Energy, Asia, and will further strengthen EC Harris’ global Contract Solutions team of 130 specialists. The two are responsible for Asia Pacific, with special focus on SouthEast Asia and Australia. Matt brings more than 20 years of global experience—with 15 years in Oil & Gas—and was most recently Director of Contract Services Energy, Asia. Likewise, John has 29 years of global industry experience across project controls, risk management and Expert Witness Services, and was most recently Director of Energy, Asia.
The Dulwich College is well and truly on course for its eagerly anticipated opening in August 2014. Excellent progress continues to be made on the construction of the Bukit Batok campus with the site now at 40% completion. The College has received more than 400 applications for admission to date, and certain year groups are filling up fast. More than 30 teachers have now been appointed, with the majority coming to Singapore from its sister schools in London, China and South Korea, while others have been recruited from leading independent and International schools in the UK. Celebrating the Dulwich network, The Alleyn Club hosted dinner on October 3 at the Singapore Cricket Club for the Alumni of the London and Asia Colleges. The occasion was presided over by Colin Niven OBE, President elect of the Alleyn Club in London. For more information on Dulwich College in Singapore, please contact www.dulwich-singapore.sg
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Standard Life recently announced the results of its first Singapore market survey, which sampled around150 British and European expatriates living and working in Singapore. The study looked at their saving and investment habits, saving priorities, and how they are planning for their future. The results showed that although more respondents save more than they did in their previous location, they prioritise shorter-term lifestyle and travel luxuries over long-term security. This is a concern as Singapore is one of the world’s most expensive cities to live in, making it even easier to fall into the trap of burning monthly income on short-term lifestyle luxuries, nearby travel temptations, and the commitment of returning home to visit family. Standard Life found this exercise to be very useful in understanding one of our three main customer segments in the Singapore market. We are keen to continue with more of such surveys to gain customer insights, and improve our product and service offerings.
PwC has signed the World Economic Forum’s (WEF) Partnering for Cyber Resilience (PCR) commitment. In supporting this initiative, PwC joins other leading global organisations across the financial services, telecommunications, and retail & consumer sectors. The PCR is designed to manage risks and opportunities that face the globally networked economy by securing the commitment of participants to a set of common shared principles. Tan Shong Ye, Head of Singapore IT risk and cyber security practice, commented, “We are fully supportive of this initiative. In the hyperconnected digital age, cyber risk and resilience is a fundamental issue faced by the global economy. The PCR helps elevate the cyber issue to board level, which is where it should be discussed. Cyber threats do not respect national borders and we believe that the WEF, along with the PwC network’s cyber security practice of over 1,500 cyber security professionals worldwide, has an important role to play to drive improvements in global practice.”
ANZ today welcomed the announcement that it has again been assessed the most sustainable bank globally in the 2013 Dow Jones Sustainability Index (DJSI) for the sixth time in seven years. ANZ Chief Executive Officer Mike Smith said, “This recognition is a credit to the 47,000 people at ANZ who have worked hard to improve the sustainability of our company.” Key points highlighted in the report include: •
Pursuing a comprehensive approach to talent attraction and retention, developing programmes for training and recruitment of traditionally marginalised groups; and
•
Leveraging its presence in developing nations to support the growth of rural industry, and delivering financial literacy programmes throughout Australia, New Zealand and the Asia Pacific.
DJSI is the most widely accepted global assessment of how companies approach their social, economic and environmental responsibilities. It assesses business management practices, such as corporate governance, risk management, customer relations, brand management, human resources, corporate community investment, climate change mitigation and environmental performance.
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At the Chamber: Corporate News On August 2, 2013, Viking SeaTech announced the signing of a definitive agreement to be acquired by Actuant Corporation (NYSE:ATU) for approximately ÂŁ150million ($225 million). The purchase is subject to customary regulatory approvals and closing conditions, and is expected to be completed within 45 days. Headquartered in Menomonee Falls, Wisconsin, Actuant Corporation is a diversified industrial company serving customers from operations in more than 30 countries. The Actuant businesses are leaders in a broad array of niche markets, including branded hydraulic tools and solutions, specialised products and services for energy markets, and highly engineered position and motion control systems.
Introduced in 2007, the first self-guided art tour podcast in Singapore at The Ritz-Carlton, Millenia Singapore, is now available in English, Japanese and Chinese. The latter two languages were added in July 2013 to extend this unique tour to a wider audience. Home to one of the finest corporate modern art collections in Singapore and SouthEast Asia, the 4,200 pieces at the hotel are valued at S$5 million. The 28-minute podcast art tour showcases 30 key works of Frank Stella, Dale Chihuly, David Hockney and Henry Moore, just to name a few.
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According to KPMG’s latest Global Assignment Policies and Practices (GAPP) survey, a globally mobile workforce remains as popular as ever. In companies where the use of mobility is the norm, continued expansion of such programmes has been observed. We have also noticed companies with headquarters in the Nordic and Asia-Pacific regions beginning to jump on the globalisation bandwagon. In its 15th edition, the GAPP survey provides a wealth of information for those responsible for or interested in global mobility. Visit www.kpmg.com for full report.
The British High Commissioner, His Excellency Mr Anthony Phillipson, along with guests from the financial sector and Singapore society celebrated with founder Mr Charlie MacLean the launch of his consultancy firm in Singapore. C MacLean & Associates is a dynamic boutique Human Recourses consultancy firm based in London which has now expanded to Singapore. With over 25 years experience, their expertise extends to senior management functions within hedge funds as well as senior financial services human resourcing for financial institutions. Charlie MacLean was previously the Managing Director of Prime Services Asia at Barclays and former Board member at BritCham Singapore.
As the market for arbitration and international law grows across Asia, two of Eversheds senior teams, partner Rod Bundy and Of Counsel Loretta Malintoppi, have moved to the firm’s Singapore office to focus on further developing the firm’s international arbitration and public international law practice in the region. Stephen Kitts, Managing Partner of Eversheds Asia, said, “Singapore is firmly establishing itself as a global centre for arbitration, and Rod and Loretta’s expertise will help Eversheds develop its market position as the leading firm for this specialist type of disputes in the region.”
With a bold, new livery, Grayling, a leading global communications firm, recently announced great changes to the company’s brand, core offering and growth strategy. While the firm continues to offer a full range of communications services in each of its 53 offices worldwide, it will enhance its offering with a focus on data-driven insights, rapid activation and technology-led solutions. Successful firms of the future will be masters of Big Data, able to tease out insights that drive game-winning strategies for clients. While data-driven insights are important, so is the ability to execute programmes quickly across multiple channels on a global scale.
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At the Chamber: Corporate News Geodis Wilson, one of the world’s leading freight management companies, is also a pioneer in setting up a Cross Border Trucking service Intra South East Asia up to China. The full cross border route covers a total of 5,950 km and has an efficient lead-time of six to seven days. Our customers can choose between full or less than container load (LCL) services, where Geodis Wilson brings the highest range of security and safety measures. The company has been operating daily scheduled trucking services since 1999, providing full customs clearance support to shipments. For more information please visit, www.geodiswilson.com
Frasers Hospitality Pte Ltd (Frasers), a world leader in premium serviced apartments and hotel residences, has garnered 39 coveted international awards in nine months, making it one of the most highly awarded serviced residence providers across Asia, Europe and the Middle East. Frasers was most recently named Corporate Housing Provider of the Year for the second consecutive year at the Expatriate Management and Mobility Awards (EMMA) held in Singapore. Frasers Hospitality’s current portfolio, including those in the pipeline, stands at 86 properties in 44 key gateway cities, and more than 15,000 apartments worldwide. For more information on our Awards and Accolades, please visit www.frasershospitality.com.
Dimension Data, the US$5.8 billion global ICT solutions and services provider, has been selected to support Bank of India (BoI) in their network infrastructural reform, with the particular task to harness the full potential of their Core Banking Solution (CBS) platform. Dimension Data India’s Sales Director, Raghuveer H R, said, “Dimension Data created an implementation matrix for phased deployment together with methods on measuring the project’s return on investment (ROI).” In addition to operational benefits, this initiative projects lowering BoI’s total costs of ownership along with enhancing performance and scalability reflecting positive ROI analysis.
Raffles Singapore is delighted to introduce a new and innovative British brand of luxurious travel accessories created by former Marketing Chief for the Williams F1 Team, Dominic Reilly. The Dom Reilly for Raffles collection is made in France, in traditional leather artisan workshops using the highest quality British canvas, premium Italian leather and Milanese gunmetal grey hardware. The bags feature a lightweight, water-resistant canvas specifically chosen to withstand Asia’s humidity and tropical showers. This canvas has been made by Halley Stevens in Scotland since 1864.
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Watson, Farley & Williams, Hong Kong, in association with Lau, Leong & Co., is pleased to announce that it has advised Chinese ICBC Financial Leasing Co. Ltd in relation to the US$1.5 billion sale and lease back of 51 offshore supply vessels with the French offshore oil and gas conglomerate, Bourbon. Partner Madeline Leong, who was assisted by associates Jonathan Keats and Janice Lee, said, “This deal is one of ICBC Leasing’s largest sale and leaseback transactions, which was challenging for all parties, drew on WFW’s legal experience, expertise and depth in several jurisdictions and demonstrated ICBC Leasing’s growing appetite in the offshore oil and gas sector.”
Ogilvy Public Relations Indonesia is delighted to announce a significant promotion within the organisation. Aries Nugroho, previously Client Service Director, is now the new General Manager for Ogilvy Public Relations Indonesia. Aries Nugroho first joined Ogilvy Public Relations in mid-2011. Having a background in mostly government relations, NGO (both international and local organisations) and corporate sectors, he had brought his 23 years of vast experience, in-depth knowledge and extensive skills in marketing and public relations to the team, elevating concepts and strategy.
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At the Chamber: Corporate News Wood Group GTS has secured a multi-million dollar, 10-year term service agreement to support the Solar® Taurus™ 60 gas turbines in Monterrey, Mexico, for Papeles y Conversiones de Mexico (PCM). Wood Group GTS will provide preventative and corrective maintenance, turbine and gearbox overhauls, 24-7 emergency cover for troubleshooting, remote support and condition monitoring with real-time information on the unit. Iain Murray, president of Oil, Gas and Industrial Services for Wood Group GTS, said, “We are committed to focusing on optimising the performance of the client’s turbo-machinery assets throughout their life cycle.”
Employers across Singapore’s professional sector will need to develop a diverse attraction strategy, which includes supporting women in top-level positions, to secure staff in the active recruitment market over the second half of 2013. With regard to women in the top level positions, 30% of surveyed employers believe the focus on work-life balance is one barrier that is preventing women from attaining upper management roles, followed by a shift in family and work priorities (26%). “This is a growing focus among major multinational companies... to attract a diverse range of talent into their business,” says Mr Jerome Bouin, Singapore MD.
UniGroup Relocation, formerly UniGroup Worldwide UTS, has launched its new global brand, reflecting a broader mission and the addition of new services and technology solutions. The company’s global network services nearly 1,200 locations in more than 180 countries with mobility solutions. “Our new brand is a reflection of our large global presence, our wide range of services and the consistent and high level of quality we are able to provide through our service level agreements and unsurpassed local knowledge,” says MD Paul Bernardt. “Over the last few years, we have been quietly building one of the world’s largest relocation networks,” said Pat Baehler, UniGroup Relocation president.
On September 2, 2013, Stamford American International School (Stamford) hosted representatives of four top US universities: Cornell, Rice, University of Chicago and
F
Vanderbilt University. The visits are part of Stamford’s College Counselling Program aimed at providing early preparation for students by informing them of their study choices and creating introductions to the best universities in the world. The programme also includes individualised college counseling through which each student is given assistance to find the university that best fits them and their pursuits.
• • •
Stamford offers students the opportunity to graduate with US Advanced Placement credits,
Ca Je Pa
a High School Diploma, and an International Baccalaureate Diploma.
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In an issue released earlier this month, HR Magazine named Michael Jenkins as one of the top 20 “Most Influential UK Thinkers” of 2013. Since joining Roffey Park in 2009, Michael has significantly expanded its influence on HR and leadership in the UK and other international regions, particularly in South East Asia. He contributed to the publication of Asian Leadership: What
Works (edited by Dave Ulrich and Robert Sutton) and focused on the areas of collective purpose, multi-culture and culture, as well as leadership transition in Asia. Michael has published a white paper called Talent and the Generations, which explores the generational differences in the workplace, using data collected in Africa, China, Singapore, UK, US and Western, Central and Eastern Europe. He has also produced a Collective Purpose learning video, and is a regular speaker on the power of collective purpose for organisational success.
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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.
10% off airfare for British Airways 15% off British Club lifetime memberships
10% discount on facilities and services at City Serviced Offices
5% off electrical appliances & 10% off furniture at Courts Special Rate for Damai Gym membership at Damai Spa, Grand Hyatt Singapore 15% discount on full service outsourcing of payroll
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10% off Medical Insurance Free three-month subscription to ExpatLiving New Year’s Celebration at Karma Kandara Bali: FourBedroom Asia Cliff-Front Residence at USD$6,999++ per night. Complimentary Changi Airport transfers 25% off regular rates for corporate services 15% off MegaZip Adventure Park activities
Complimentary access to 1,200 centrally located business lounges all over the world.
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At the Chamber: Business Lunch
Business Lunch— Live the Story July 16, 2013 Lyse Doucet, BBC World News’ Chief International Correspondent, shared her experience as a global news presenter and reporter, from coverage in the field to interviewing world leaders. She gave insights on being a BBC foreign correspondent for 15 years, with postings in Jerusalem, Amman, Tehran, Islamabad, Kabul and Abidjan.
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Lyse Doucet, Chief International Correspondent, BBC World News
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At the Chamber: F1 Networking
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F1 Sky High Networking September 19, 2013 Geoff MacGrath presented the technology side of McLaren Motors. He shared some of McLaren’s technology projects, such as the ultra-light carbon-fibre racing bike, Venge. Referring to F1 motor sport, he discussed technologies developed by McLaren for F1 cars to solve challenges off the racetrack. Most teams in F1 use McLaren’s technology, which uses various algorithms to predict the performance of race cars and the driver. Meanwhile, Chris Murray, spoke of the Williams team and car, reaffirming what Geoff MacGrath said. Both speakers also gamely answered questions posed by members and guests.
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Speaker Geoff MacGrath, McLaren Motors
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Speaker Chris Murray, Williams team
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Hugo Walkinsahw, BCCS President
In Association with
In Partnership with
Title Sponsor
Supporting Sponsor
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Outsourcing—Is There Still Life in the Strategy After two Decades? July 24, 2013 With work becoming more specialised and companies pulling back from outsourcing, this presentation helped attendees understanding what is happening in the Singapore labour market, and what the benefits of offshoring and outsourcing are as the global labour market continues to evolve.
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Andrew Taylor, Managing Director South East Asia, EA Consulting Group
Change Management —Achieving Business Outcomes August 15, 2013
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Attendees learnt how their organisations can make changes to the ways of optimising return on investments from programmes and projects. The presentation focused on the business case of managing the people side of change effectively, and draws from a range of change management thinkers.
From left: Rhiannon Cooke, Managing Director, and Michael Campbell, Director, CMC Partnership
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Beyond Banks— Alternative Sources of Funding for SMEs September 23, 2013 In this session, speakers Frank Levinson and Richard Ong discussed sources of alternative finance, detailing what options are available to the business owner and what they must be prepared to do and/or sacrifice in order to obtain it. They also shed light on the realities of entering into arrangements such as venture capital and angel investing, as well as constructing exit strategies such as Initial Public Offerings.
Singapore Data Protection: Don’t Panic! September 3, 2013 Singapore is set to have a new personal data protection law in the form of a ‘do-not-call’ registry, which takes effect in early 2014. Attendees were presented case studies that explained the changes and how they will deal with compliance.
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Rob Bratby, Managing Partner, Olswang Asia, and Will Courtenay, Executive Director, Asia Privacy Counsel, Morgan Stanley
The BritCham Breakfast Club is proudly sponsored by:
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CSR Breakfast Briefing: Towards a new Social Contract July 16, 2013 Laurence Lien gave a presentation on making corporates adopt more strategic practices in giving. Attendees learnt about the non-profit landscape in Singapore, and how they can make their corporate community investment more strategic through the Corporate Giving Marketplace.
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Laurence Lien, CEO, National Volunteer & Philanthropy Centre
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At the Chamber: Events Networking
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BritCham and EuroCham Young Professionals Networking Evening August 15, 2013 The Young Professionals of the BritCham and EuroCham held a networking night that was a platform for fellow professionals in Singapore to share experiences and exchange ideas. This event was held at the lively District 10 Bar & Restaurant at UE Square with freeflow drinks and finger food.
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Mike Gascoyne, Mgi Founder & Group Chief Technical Officer, Caterham Group
Get Connected Making LinkedIn Work for You September 5, 2013 It was another successful night at the Professional Services Group Networking event with ‘Connections’ as its focus. Attendees had an overview of what LinkedIn can do for their marketing efforts, meeting the objective of PSG to help members further their business interests and connections.
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Simon Kelly, Head of Global Accounts and Relationship Management South Asia, LinkedIn
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2013 BritCham Events: Mark Your Diary
At the Chamber: Events Calendar
BritCham Breakfast Club Friday November 1, 2013 Outlook for Energy—A View to 2040 Wednesday November 6, 2013 Geopolitics of Energy Thursday November 7, 2013 Progression of a Student to being Members of the Workforce Thursday November 14, 2013 Private Investments in Property in Asia and Tax Impacts
Leaders in Business Lunch Monday November 25, 2013 Gavin Patterson, Group CEO, BT Plc
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Networking Thursday November 28, 2013 UKTI
Economic Briefing Thursday November 21, 2013 Roman Scott presents the Economic Outlook for 2014
BritCham Oriental Ball Tuesday December 3, 2013 Shangri-La Hotel, Singapore
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