Orient Issue 77

Orient SINGAPORE INTERVIEW OBE team'sannouncementReview. Shipping’sHeadwinds Decarbonisation COVID-19

CONTENTS Editor:Co-Editor&Designer: Tel:137TelokAyerStreet,#06-03,+656222-3552Fax:+656222-3556www.britcham.org.sg NewsPresident'sMessageExecutiveDirector'sMessage (Singapore) Feature: COVID-19anditsImpactontheGlobalGoldMarket Feature:Feature: Shipping’sHeadwinds–Feature:Let'sDiscuss: FinancialAidPostCOVID-19 Member @britchamsg@bccsingaporesentOrientisabi-monthlymagazinepublishedbyatowner’sriskandtheChamber+656718-0535

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I T ' S ABO U T E MB RACI N G A N I N D EF I N A B L E F U T U R E .I T ' A BO U T E MB N G N I N D EF I N A B L E F U T U R E . Dulwich College (Singapore) is an international school, for students aged 2 to 18, with a British independent school ethos, which draws upon 400 years of excellence, innovation, tradition and values To attend our Virtual Open House and learn more about the Dulwich Difference please visit singapore.dulwich.org or email admissions@dulwich-singapore.edu.sg Dulwich College (Singapore) CPE Registration Number: 201027137D. Period of Registration: 09 January 2020 to 08 January 2024 School Location: 71 Bukit Batok West Avenue 8, Singapore, 658966

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NEWS: OBE ArcadisManaging PRESIDENT PartnersWilliamsCountryHeadTREASURER Microsoft HorenfeldtAngelCheungBusinessDirector-Client INCOMING BOARD MEMBERS / 21

Singaporehasplanned

re-enterSingapore•Over50%ofcompaniesexpectanimpactof20%orasalong-termbusinesshubSingapore•Thetop5travelconcerns:quarantinemeasuresatincreaseineithercountrywhiletravelling;there-holders;confidenceinthehostcountry’squalityThismonth'sreportalsoincludesinsightsonOurteamremainsonhandtosupportmembers'

NEWS: impactsOurlatestCOVID-19

NEWS: Singapore's communities. QueenCOVID-19 Covid-19,isAstheworld'sfifth-largestrefineryexporthub,Singaporewell-positionedtoleadtheworldinthedownstreamhaveputsomepressureontheindustry’sstandingasapillarofSingapore’seconomy,andchallengesharestheoutlookroleinSoutheastAsia’srecordedontoday's

Moneditionastheworld’smostcompetitiveeconomyinthelatestoftheIMDWorldCompetitiveRanking–suchsuccessfullydeliveredourfirst‘VirtualTradeMission’retailersdirectlyduetothisVirtualTradeMission-sokeepyoureyesoutfor‘Flawsome!’drinksand‘HalonAngleseySeaSalt’. to‘FoodandBeverageMarket:ExportingSingaporeandASEAN’SectorOpportunitiesinSingapore’‘ConsumerGoods:Trends,OpportunitiesandOperationsinSingaporeandSouthEastAsia’ goods-webinar.html.export.Wealsocontinuesupportviathe‘Supporting, , nicole@britcham.org.sg NEWS:

PwCSingapore'sAssessment partofthe“newnormal”washighlightedintherecently Assess: Afteranswering Learn: recommendedbite-sized Grow: DigitalTrackhowmuchlearningReimagineourinvitecode,“ LRNALL (”,togetstarted.www.surveymonkey.com/r/DK6VX75 NEWS:

Asia•obtainfirst-handinformationonpracticesandchallengesinanti-Understandhowcorruptionandothersustainabilityrisksaffectininternalisingandconnectinganti-corruptionandRBC•EvaluatetheeffectsoftheCovid-19pandemiconanti-corruption

NEWS: workplacesThroughitsinsight-ledapproach,ofworld’sleadingorganisations.Butwiththewide-reachingdisruptionsofCovid-19many working“Ourcustomersaroundtheregionhavewithustoset-upbetterworkspacesinemployees’homes”, said home“Asexperience.”awarding-winningofficechairs.availablethroughtheonlinestore–RedDotAward-winningdesignedforthe shop.steelcase.com WFHBCC10 Singapore Jamie’sItalianForumisnowopenfordine-indailyfrom11.30am–2.30pmand5.30pm-9.30pm .Tocelebratethere-opening,ongoing ForumJamie'sre-openingofItalian

expertise,commercialwww.clydeco.com/locations/office/singaporeICICIBank(listedEurope,Middle

comwww.sovereigngroup.com

DigitalDirectionSGcomplimentaryEllieRich-PooleEllieRich-Poole

CORPORATE

Purpose-ledLeadershipAUKOutlook:UKTaxUpdatesduringCOVID-19 COVID-19forbusinessesandindividualswith FinancialAidforEnergyTransitionpost-COVID-19 PartofBritCham’s‘RoadtoNetZero’ COVID-19andInfrastructureProjects inimpactofCOVID-19Businesscommittee-ifyouaregrowth-orientedInthecurrentCOVID-19

Jun2020 Shangri-LaHotel, Jul2020IndustryinSouth-East (Webinar) Oct2020Dinner Shangri-LaHotel, Dec2020Late Shangri-LaHotel, Jul2020JimCollins-GoodtoInternationalWomen's UPCOMING events@britcham.org.sg DATE NAME TIME VENUE Jul2020COVID-19World (Webinar)

Theschool,it’saboutwhatwebelieveinand,student’sresponsecapturedthe

everyday.

outstanding,opinion,youcan’thaveanoutstandingit’stheteachersintheassubject-specialismisveryimportantthatsweetspotofreal teaching.

perspectives alternatives.

environment.Theyaregoingtoseeabrand-new,purpose-builtbuilding,withstate-of-the-artfacilitiesalongDepotRoad.Butwe’remostlookingforwardtoseeingwe’reopen.Wewillseehappy,fulfilleddoors–itistheattitudesandvalues“moments”.Ihavestudents.IoftenMyfirstoverseasthisyear–was

NLCS?"Inourdiscussionswithnewstudentsandfamilies,we'reoftenaskedthequestion"whatwillatypicaldaylooklikeatSeniorTeam

I’myouarechangedtherehonesty,thereisnosuchthingasa‘typicalday’atNLCS.Ifisanything'typical'aboutadayatNLCSit'sthatyouI’mgivencountlessopportunitiesinNLCStoimprovemyselfboring,andIneverfullyunderstoodwhatwasgoingon.That'satNLCSandwhilstit'sstillfarfrommyfavouritesubject(there'snochanceitwilleverreachthoseheights),Ionlyreasonforthisismyteacher,Idon'tthinkI'veevermetainfectiousandalwaysexciting.You'retoldbeforeyoudon'tunderstandwhatthatmeansuntilyou'rehere.furtherexploreamultitudeoftopicsandsubjects,Idon'tthinkyoucouldnameanacademicinterestthatisn'tcoveredGenderStudiesSociety,theDanceSociety,andI'malsoaabletolearnanddevelopadeeperunderstandingofrealpassionsarewiththeperformingarts.IfeelthatI'mableafter-schooldanceorback-stagearemusiciansbands,andmanyclub’,whereagroupcommunity.I'vethe‘glee’competition.‘glee’song/dancesingingperformance.mebeingininterestinaSo,personallybutanever-developing

deliverNorthLondonCollegiateSchool,foundedin1850,andboastsabuilt-upareaofapproximately300,000anoutstandingworld-classeducationwhichcaters

FEATURE: COVID-19ANDITSIMPACTONTHEGLOBALGOLDMARKET significantinflowsintogold–particularlygold-backedETFsandsimilarproducts–asaconsequenceoftheeconomicfall-outofCOVID-19.Itis GoldandCOVID-19

consumer-focusedUnsurprisingly,theglobalCOVID-19safe-haveninvestmentdemandforsectorsofthemarket.Investmentdemand–drivenbyeconomicuncertainty–hasresultedininvestorssoughtsafe-havenassets.Gold-backedETFsandsimilarproductskick-starttheplayanever-increasingGold'sbehaviourjewellery,igniteor

COVID-19andits

FEATURE: COVID-19 Economic Expansion Uncertainty Cost Momentum Long-term returns diversification Relative attractiveness amplification marketis

theoftheWorldGoldCouncil’sactivitiesinCouncil’sregulatoryandpolicy

playingarole.Goldisn’tjustanmedicaldiagnostics–theWorldHealthovercomingtheCOVID-19pandemic.“at-home”testkits,anincreasingmaintainsadatabaseofCOVID-19COVID-19LFAtheimportantroleofWorldGoldCouncil’s

theteam'sannouncementperformances

withtheteam?The2020pre-season we'retheworld,this[COVID-19]hashadanverymuchincontrolofthis COVID-19.Howdifficultwerethose world.inthebackgroundoverthepast12-18aroundtheworldanddidn'tevengettol'Automobile(FIA).threeteamswerePriortoCOVID-19,decade.However,

particular? regulationsduringCOVID-19because2021-22wearenotallowedtoworkonwhatwe'regoingtohaveismuch thingsfactorydownyou'vebeen Itisallabout next-genWilliams ,business,what's worldanddidn'teven

thatwe'veplayedjustasmallpart,andItisanewwayofworking,isn'tit?WeFormula1isaveryhigh-profilesport,storiesinthemedia,andthey'rehavejustoverengineersarewell-equipped? programsaround

industryI'mveryproudoftheworkwedointhisdoesn'thaveengineerscomingthrough,wewon'thavean15-yearoldsspendawholeweekmistakes.YouIt'swhatyoudoincan'tbe

Different drivers–theindustry.won'tindustrydoesn'thavean

proactively.hearthatI'mahugesupporterofmentionedareveryinterestingtoo–However,I'mverypleasedtosaythatAndunlessyou'reyoungwomenaren'tnecessarilygoing

difference.there’sofI'mabigbelieverinrolemodels.Youexcitingopportunities.It'saboutawomanatAlfaRomeoand You’realeadingfaceofF1teambackintotherealworld,it'sgoingtobeItwasn'tuntilIwenttouniversitythatItoanall-girlsboardingschoolandnoneofthegirlscared.Theydidn't You're“OhmyGod,inFormula1!” right? pursue

pressurethekeysofthegarage–howdidyouonyoubecauseyou’rethe IneverwantpeopletothinkthatI'monlyherebecauseofthat.I'mnotnaiveeither.IknowI'minthisrolebecauseIamtheboss'sdaughter,andthatplaysTherearen'tanytypicaldaysinmyjob,andthatisoneofthereasonsIloveit–Oneminute,I'llbeinanF1SteerCowithdriversandmakingsurehe’shappy1.Icouldalso

setsgoingtobewinnersandlosers.It'syouupforsuccess.Youcan't You’renotjustaniconicfigureengineeringsector-Asamum, that.nurseryIt'snoteasy,butI'mnottheonlyshouldIneedto,andI'mto,whereasotherpeoplecan'tdoI'mneveroff,butmyfamilyMikeO'Driscoll,whostartedasCEO

circuitMansell'sIwasn'tarmed1992TeamPrincipal–sorry

accidentin1994,SirFrank’saccident brag,It’swhoIam.Andit'snotaboastnorait'sjustwhoIam.IfindthatI’m you’vehadtomakeinyourroleas

www.britcham.org.sg/podcasts St.James'sPlaceWealthManagement www.williamsf1.comWilliamsisoneoftheworld’sleadingFormula1teams.Itexists

FEATURE:

beyondEvenbeforetheheartbreakandhavocCOVID-19-andparticularlytosmallbusinesses.

demandsanduncertainties,that’sforsure-andit’snotashardasyoumight“agile”asaprocess(forexampleinmethodswon’tdata.Thebusinessesnations-whohavebeen

FEATURE: Thisisnotscience tobecomeoneoftheUK’slargestdigitalShethenledamanagementbuy-infortheAsia-Pacificbusiness,rebrandedasAdelphiexperiencednon-execandanadvocatefor Createdbyfullvector

FEATURE: SHIPPING’SHEADWINDS–THEDRIVERSFORDECARBONISATION consequenceofthecarbonintensityofshipping'senergyoflookingatthisisreducingcarbonintensity–thecarbonemissionsrelativetothetransportdemand(CO2/tonne-mile).requiringcommerciallyviablezero-emissionvessels(ZEVs)non-fossilfuellaterintheiroperationallife.Further,givenTodeliverthisgoal,weneedtotheinfrastructure‘Supplyglut’OPEC+talks,belatedattemptproducing Shipping’sHeadwinds–andDouglasRaitt,LLoyd'sRegister. BritCham’sthemedium-tolonger-termdriversforimpactofthecurrentoilmarketsEnergy&Utilities,Transport,LogisticsSustainabilitycommittees.Itservedas ‘RoadtoNet-Zero’ leadinguptotheUnitedKingdom’shostingofCOP26.

FEATURE: SHIPPING’S However,influencewasdo-ablewithcooperationfromtherefiningindustry,ontheIMO’smarchtowardscleanermarinethenextstageinIMO’sambitions,namelyAdministration’sforecastofhighsulphurfueloil,lowtodominatethecountry’sbunkerfuelmarketallthewayto2050insimilarproportionstothisyear–somethingthatmaybecompletelyincompatiblewiththeIMO’s Speakers: DouglasRaitt,

TheexpectedwideningoftheHSFO-LSFOpricespreadSingaporeHSFO-LSFOspreadasassessedbyS&PGlobalscrubbershasnowshiftedfrom2-3yearsto5+years.Manywell-equippedtoCOVID-19.Freight

FEATURE: SHIPPING’SHEADWINDS–THEDRIVERSFORDECARBONISATION

FEATURE: SHIPPING’S COVID-19AstheCOVID-19pandemicspread,goingforthenextbestoption–floatinginducedlockdownhas Alternativestofossil-basedfuels biomassandzero-carbonfuelchoicesbuttheresuchasbio-methanolandbio-gasoil,andrenewableelectricitycaseofbio-massfuelsorfuelsderivedRegardlessofwhichzero-carbonfuelsemergeasfavoured,fromanon-boardthequantities anon-fossil

portsInfrastructurereadinessattheworld’stoutiliseandsequester‘bad’fuels-whichdefeatsthepurposeemissions-wise.Hydrogencanbebuild-outrequirementscommercially-viabledecarbonisation.3.5%to0.5%sulphur-contentthree-yearmakedecisions

FEATURE: SHIPPING’SHEADWINDS–THEDRIVERSFORDECARBONISATION

Value-chainemissions

FEATURE: SHIPPING’S IndustriesCouncil,theUK’sleadingtradeassociation ofbasedwithKPMGintheMiddleEastfrom2005-2012clients,particularlyinSaudiArabia.PreviouslyBritCham’sEnergy&UtilitiesBusinessGroup.businessdevelopmentconsultantwithanexecutive-levelthathasincludedtheworld’sleadingnationalPeteralsositsonBritCham’sEnergy&UtilitiesBusinessGroup.LNG,MethanolandBio-fuelsanditspotentialfuture Data&Cyber-Securitymanagement –connectingSingapore

FEATURE: commitment.businesseswitha1.5°Cworld,eitherbysettinga1.5°Cscience-basedtarget,orcompanyas‘achievingastateinwhichtheactivitieswithinthevalue-chainofaemissions’.However,thereisstillcompany:ambitious1.5Calignedscience-3.Anyremaininghard-to-decarboniseonlytruly‘hard-to-decarbonise’aligningtopathwayaligned Therehasbeenasurgeinpopularityof‘netzero’

Chrishas15years’experienceofcountries.HeleadstheCarbonTrust'saroundtheworld–supportingtheminprosperitycangohand-in-handaswe

FEATURE:

‘hard-to-decarbonise’sectors,willhaveincludelarge-scaleforestation,Net-zeroisascience-based

andNikkiKemp,WorldEconomicForum-formspartofBritCham’sNet‘RoadtoZero’re-establishingre-imaginingoftheenergysectorwastrade,financingre-predicted.Thecontinuation–oracceleration–ofthedrivetofuture.‘all-hands-on-deck’Health,safetyforefrontofgovernments’movedquickly Let'sDiscuss...FinancialAidPostCOVID-19 UnitedWeentered2020anticipatingengagingdialogueKingdom’shostingofCOP26.TheUnitedNations

experiencing–fornow.them.Manycountriesdon’thavea toBritCham’sEnergybuildingouttheregion’s

Levitise WELLNESS GinettCentreHarry'sBarItalianSingapore)MollyMalone's LEISURE SingaporeHertzShangri-LaHotelsProgramme,,SingaporeSingaporeCopthorneGrand,,, MEMBER DISCOUNTS discountswww.britcham.org.sg/member-member-exclusive FreeOne-Year ExclusiveRates

Group'sCFOs1-hourfreeconsultation&20%offRegusSonru1-monthfreeSpaces10%discountCollectiveVieworks$100DiscountforLIVEIn-HouseAnagramDiscountson1hourandall-dayNewcastleUniversityOB1ConsultingFundingSocietiesMSIGStarHub

3,621

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