Orient Issue 51 by BritCham Singapore

Orient

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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 51 / OCT–NOV 2014

SPECIAL FEATURES

ISSUE 51

ISSN 0219-1245

9 770219 124002

15TH ANNUAL BUSINESS AWARDS

IN FOCUS: TOBY FOWLSTON

International Life Awards 2014

Best for adviser support/ customer service (Middle East)

Best overall range (Middle East)

Best protection product (Middle East)

Best for adviser support/ customer service (offshore UK)

Best new product (offshore UK)

Grand Repos

Developed by Vitra in Switzerland, Design: Antonio Citterio

Contact Betty.khoo@vitra.com +65 9476 0336

www.vitra.com/grandrepos

SYDNEY RETURN. DAILY. With 80 years of experience connecting the UK to Australia via Singapore, youâ&#x20AC;&#x2122;ll be in good hands getting there. And back. To Fly. To Serve.

Your child’s Future, Ignited Carissa Sim • Achieved 44 out of 45 in the IB Diploma • Studying International Business on a

scholarship at the University of Melbourne

• • •

School Captain and IB Dux 2012/13 Accomplished pianist and violinist Represented AIS in basketball and soccer

AIS student for 14 years

Discover more! Outstanding children deserve an outstanding school. From the outset, the Australian International School offers your child the very best environment in which to learn, achieve and excel, not only in the classroom, but in everything they do.

Book your personal tour Visit www.ais.com.sg or call +65 6517 0247

Our perfectly balanced learning program results in conﬁdent, sociable and globally aware students. Equally, it builds the desire and ability to excel… delivering the worldwide perspective of the International Baccalaureate PYP, strengthened by the rigorous standards of the Australian Curriculum and the structure of the IGCSE. The choice of graduating with either an IB Diploma or the New South Wales Higher School Certiﬁcate (HSC) gives your child an even wider choice of international university destinations.

Globally focused, distinctly Australian Contact: +65 6517 0247 | www.ais.com.sg AIS is part of the Cognita Group of Schools www.cognitaschools.com 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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Contents

PRESIDENT’S MESSAGE

EXECUTIVE DIRECTOR’S MESSAGE SPECIAL FEATURE

43 19

15th Annual Business Awards In Focus: Toby Fowlston

FEATURES 16

Asia on Top for Trade

Unlocking Opportunities in Big Data

Branding for Winning

Expats Under-saving

Investing in Rare Stamps and Coins Makes Sense in Today’s Volatile Market

The Changing Priorities of a New Dad

Singapore Working Overseas Have Higher Appetite for Investment

BRITISH HIGH COMMISSION / UKTI 38

UK-Singapore Unlimited Scope for Future Cooperation

Creativity at the Heart of Business

AT THE CHAMBER 52

Business Services News

Britain in South East Asia News

Business Group News

Sterling News

Corporate News

Members’ Offers

Events

Events Calendar

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: Damian Adams: Simmons & Simmons Mark Buchan: Ernst & Young Solutions LLP SECRETARY: Chris Kilburn: Watson, Farley & Williams Asia Practice LLP TREASURER: Dominic Nixon: PricewaterhouseCoopers BOARD MEMBERS: Andrew Vine: The Insight Bureau Pte Ltd Peter Hatt: Standard Chartered Bank Ian Williams: HSBC Bank Robert Williams: British Airways Terence Yuen: BP Singapore Bicky Bhangu: Rolls-Royce Singapore Pte Ltd Ronald Totton: BT Singapore Sian Brown: Barclays Bank PLC Rudi Geerdink: The Royal Bank of Scotland David MacDonald: Portfolio Builders Andrew Thomas: Ogilvy & Mather Singapore Pte Ltd David Pugh: The Fry Group Richard Warbuton: EC Harris Annabel Moore: Diageo Singapore Pte Ltd Judith Slater: British High Commission Roland Davis: British Council

COMMITTEES: Diversity: Stephen Trevis Events: Mark Buchan External Affairs: Steve Puckett Membership: Damian Adams Sustainability & Responsibility: Rosie Danyluk BUSINESS GROUP CHAIRPERSONS: Energy & Utilities: Damian Adams Entrepreneur & Small Business: Jonathan O'Byrne (co-chair), Miles Gooseman (co-chair) Financial Services: Gary Haran Doyle IT & Communications Technology: Henry Farahar Leadership: Zsuzsanna Tungli (co-chair), Mike Huges (co-chair) Creative Industries: Frazer Macdonald Hay Professional Services: Martin Riddett Property & Construction: Richard Warburton Scottish Business Group: Neil Melnnes Shipping Transport & Logistics: Neil Johnson Women in Business: Sian Brown Young British Chamber: Zoë Marmot MANAGEMENT TEAM Executive Director: Brigitte Holtschneider Finance Manager: Pauline Yeo Business Services Manager: Jennifer Hainsworth Senior Events Manager: Alexandra Packman Membership Manager: Katie Hudson Marketing & Communications Manager: Vipanchi Membership & Events Assistant Manager: Emi Hosono Marketing & Communications Executive: Clara Tan Business Services Advisor: Umagliya Kankanangai Tina Business Services Advisor: Jared Sim Office Administration Executive: Anna C Garciso

Editor: Vipanchi vipanchi@britcham.org.sg

Orient is a bi-monthly magazine published by the British Chamber of Commerce.

Content Coordinator: Clara Tan

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

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: NOVUS CONTENT. DI G I TAL. PUBLI SH ING.

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 Chin Wei Lien weilien@novusasia.com Creative Services: Kwan Gek Lian gek@novusasia.com

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Presidentâ&#x20AC;&#x2122;s Message

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

Dear Members, The 15th Annual Business Awards on October 1 this year was a huge success, with more than 350 people attending the ceremony and formal dinner. I would like to thank our honoured guests, Minister for Environment and Water Resources Dr. Vivian Balakrishnan, British High Commissioner HE Antony Phillipson, and keynote speaker Paul Polman, CEO of Unilever. My thanks also go to our sponsors and supporting organisations for their continuous partnership over the years, without whom the event would not be possible. And on behalf of all members, I would like to once again congratulate the finalists, winners and the many nominees for their participation. The worthy finalists and winners were commended in the media through an excellent supplement to mark the occasion, produced by The Straits Times.

Hugo Walkinshaw

President, British Chamber of Commerce

Following our strategic Board meeting in September, we have set a number of short term goals for the next twelve months â&#x20AC;&#x201D; from a structural perspective we will be moving to a larger office in late November to accommodate the expanded executive team, while from a milestone perspective we will of course be focused on helping Singapore celebrate its 50th anniversary in 2015. Other areas of focus will be how to continue to build value for current & new members, increasing board engagement, expanding the business groups and continuing to deliver relevant high quality events for members. We have had a tremendously successful few years but we cannot rest on our laurels, particularly in the face of prolonged economic uncertainty, so we will need to stay focused and build on the foundations that we have laid. Finally, as the end of the year fast approaches, we look forward to the Grand finale celebration of our 60th Anniversary at The Great BritCham Ball. To further engage with the community, we have launched a Talent Competition via our Facebook. I encourage you all to participate, to like the page and to share the message with your friends. Please visit www.facebook.com/bccs.ball for more information. An exciting evening paired with the best of British hospitality awaits you on December 6. Do book your tables early and I look forward to seeing you at the event. Best regards,

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Contact us for more details on: +65 6340 1669 rhi-bupa@raffleshealthinsurance.com raffleshealthinsurance.com/international-healthcare *Worldwide Health Options and Lifeline plans only. The promotion discount is subject to enrolment meeting the terms and conditions of the programme. This marketing material is for general information only and is neither a contract nor intended as an offer or recommendation with respect to the purchase or sale of the above products. Buying health insurance products that are not suitable for you may impact your ability to finance future healthcare needs. You should seek advice from a qualified adviser if in doubt. Raffles Health Insurance Pte Ltd (Company Registration Number: 200413569G) is the insurer and Bupa Global, the trading name of Bupa Insurance Services Limited, is the administrator of international health insurance plans in Singapore. The information on this advertorial is correct as at 01 September 2014.

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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, A lot has happened at the Chamber since our 60th Anniversary issue of Orient, which we launched at the anniversary party hosted by the British Club. One of the highlights of the past two months was the 15th Annual Business Awards, which saw strong competition among the 58 nominations across eight categories. On 1 Oct, 24 proud finalists were present at the Awards Gala Dinner to await the results. During the event, we were delighted to welcome as our guest speaker Mr Paul Polman, CEO of Unilever and Chairman of the World Business Council of Sustainable Development. He delivered a compelling and thought-provoking appeal for sustainable living, a sentiment that was later echoed by Dr Vivian Balakrishnan, Minister for the Environment and Water Resources and our Guest of Honour for the evening. I would like to take this opportunity to congratulate all winners and thank our panel of judges! A particular “Thank you” goes to Alexandra Packman, our Senior Events Manager, who did a stellar job and made the evening as fabulous as it was. You can read a full report on Gala Dinner and the winners on page 43.

Brigitte Holtschneider

Executive Director, British Chamber of Commerce, Singapore

From 3 to 5 Sep, we hosted our colleagues from the British Chambers and Business Groups in the region (BiSEA). Members had the opportunity to connect with the BiSEA team at an informal networking on the first day and to meet with Executive Directors from the Chambers in Thailand, Indonesia and the Philippines in a one-toone. We consider these informal meetings particularly important in view of the ASEAN Economic Community (AEC) 2015. Later at our biannual BiSEA conference, we addressed challenges and successes we are facing in our respective markets. For a detailed report on the conference, refer to page 56. At the end of September, the Chamber Board held a Strategy session to outline challenges, objectives and strategies for the future. Staying relevant in an everchanging environment and improving member services were the main highlights of the discussion. We will provide a detailed report in the December issue of Orient. To conclude, I would like to inform you that we are moving to a new office come mid-November. Since the launch of our Business Services offering as part of the OBNI (Overseas Business Network Initiative), the team has grown to include Jenny Hainsworth, Business Services Manager, as well as UK Tina and Jared Sim, our Business Services Advisors. We have outgrown the space in Cecil Court and have, instead, found a new home in Robinson Point, which is located just around the corner from our current location and, as such, will have no impact on members coming to committee and business group meetings! I would like to express my sincere gratitude to Jonathan Moore and Patrick Gidney from Cushman & Wakefield, both of whom delivered excellent services and support in identifying the new premises. Furthermore, I would like to thank Richard Warburton and his team at EC Harris, which oversaw the planning and budgeting of the outfit and the move. I hope to see you, your spouses, colleagues and friends at the 60th Anniversary Ball on 6 Dec! Best wishes

2014 Results IB Diploma

A record breaking average point score of

38.0 points

Tanglin Trust School prepares to celebrate 90 years of experience and tradition in delivering a high quality education to students aged 3 to 18 in Singapore.

(The global average is 29.8) 2 students scored a maximum 45 points, 16% scored 43 or more, 100% achieved at least 32 points.

A Level

50%

of grades were at A* or A

93%

were in the range A* to C

I/GCSEs 87%

of all grades achieved were A* to B

Tanglin is a vibrant co-educational school of over 2,750 students, representing over 50 different nationalities. The school is arranged into three sections - the Infant School (3-7 years), Junior School (7-11 years) and Senior School (11-18 years), which includes Sixth Form.

34% of all grades achieved were A*

Tanglin is inspected within the BSO (British Schools Overseas Framework) recognised by Ofsted. Tanglinâ&#x20AC;&#x2122;s Infant, Junior and Senior School have been awarded Outstanding (2010-2014).

At Tanglin, learning is based on the English National Curriculum, which is enriched to reflect the schoolâ&#x20AC;&#x2122;s location in Asia. Tanglin is unique in Singapore in offering the dual pathway of A Level or IB Diploma at Sixth Form, following I/GCSE at Year 11. Our exceptional results are testament to the outstanding foundation set by our Infant School and carried through to Sixth Form.

Tanglin is a not-for-profit organisation and is registered as an educational charity. t: +65 6778 0771 e: admissions@tts.edu.sg w: www.tts.edu.sg a: 95 Portsdown Road, Singapore 139299

British-based learning with an international perspective.

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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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Feature

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

Asia on Top for Trade By Anand Pande Asia will remain the world’s top trading partner as barriers come down and economic growth continues.

he region’s exports will grow by 6.9% and imports by 6.4% in 2014, according to the World Trade Organization (WTO). Both numbers are expected to rise to around 7% next year.

Nations (ASEAN), which have encouraged a more open trading environment. They rightly recognise that trade liberalisation is inevitable in today’s increasingly globalised economy.

Links between Asia and the UK are particularly strong. In the last decade, foreign direct investment by UK companies in Asia has doubled while Asian investment in Britain has tripled, according to the Office of National Statistics. Also, seven of the top 20 export destinations from the UK are in Asia.

ASEAN has positioned itself well for global trade flows and become a major hub of manufacturing and trade. Singapore, for example, has set up a network of 20 regional and bilateral free trade agreements. And while Myanmar is just beginning to open its economy by undertaking some major reforms such as opening its Thilawa Special Economic Zone, interest continues to grow as more companies either export to or invest there.

Trade between the region and the European Union (EU) reached €1.25 trillion in 2013— double what it was 10 years earlier. Asia now accounts for over a third of trade in the EU, making Europe its biggest trading partner according to the European Central Bank (ECB). Much of the credit for this growth should go to countries such as China, India and those within the Association of Southeast Asian

Indonesia’s efforts to have regulations that support growth meant it was rated the top destination in ASEAN for business expansion, according to the ASEAN Business Outlook Survey 2014, followed by Vietnam and Thailand. The rapid growth of a middle class population in these countries has led to higher consumption and greater

trade flows. The number of consuming households in ASEAN is expected to almost double in the next decade, says McKinsey & Company Research. Governments in the region are also gearing their economies towards technologydriven industries, including machinery and transport, rather than focusing only on labour-intensive areas such as agriculture and textiles. This is boosting these countries’ share in the region’s exports. More broadly, positive developments for Asia in the past few years include the EU setting up its first comprehensive free trade agreement with an Asian partner—South Korea—in 2011. This led to about 70% of trade between them being duty free, boosting EU exports to South Korea by 16.2% from 2011 to 2012 and imports by 4.7%, according to the European Commission. A similar agreement between Singapore and the EU in 2012 was the first ASEAN country agreement with Europe to cover both services and trade.

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China still sits centre stage in Asia’s growth story despite its economic rise slowing from a double-digit speed. Escalating wage pressure means goods from China are no longer as cheap as they used to be, which has seen production facilities shifting to other developing nations that offer a competitive advantage in terms of wages and other incentives. Nevertheless, China remains the biggest and most high-profile trading partner in Asia by far. It recently overtook the US as the world’s largest trader, according to the WTO— measured by the sum of exports and imports in 2013. The renminbi has replaced the euro as the second most-used currency in trade finance behind the dollar, according to global messaging giant SWIFT. Today, almost 9% of letters of credit or collections use the renminbi—up from a mere 2% at the start of 2012.

About the Author Anand Pande is Head of Trade, Global Transaction Services at RBS

Feature: Asia on Top for Trade

China’s economy is expected to keep growing by more than 7% a year for the next few years too, according to the International Monetary Fund, so there is no sign of its importance diminishing any time soon.

the world, particularly in Germany—India’s largest trading partner in Europe—where large companies would benefit from both bilateral trade and direct investment with India.

India is set to follow suit following the recent elections that brought the Bharatiya Janata Party (BJP) to power with a clear mandate to open up the economy.

Asia’s economy has slowed recently and there is certainly no room for complacency as new growth areas such as Latin America and Africa start snapping at its heels.

That economy had become sluggish because of a sharp decline in investment caused by currency volatility, high inflation and a lack of investor confidence. The elections themselves also had an impact as they caused uncertainty.

But it remains a force to be reckoned with.

But the BJP, previously the opposition, wants to focus on dealing with these issues, and this agenda is widely expected to boost business and investor confidence. This is potentially good news for the rest of

It has the advantage of behaving like a mini EU as more than 55% of its trade happens within the region. More importantly, rising domestic consumption—a significant part of GDP—provides another strong engine for growth. Businesses must keep this all firmly front of mind when developing their trading strategies to ensure they make the most of the huge opportunities the region offers.

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In Focus

In Focus: Toby Fowlston With Fair Consideration Framework and Foreign Manpower policy going live, Robert Waltersâ&#x20AC;&#x2122; Managing Director shares his views with Vipanchi on the recruitment industry in Singapore and Asia.

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

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In Focus: Toby Fowlston, Robert Walters

How has the recruitment industry transformed in the last 10 years?

There have been a lot of changes across the globe. From the boom of online portals to changes in governments’ policies. We have seen things like the introduction of Linkedin, which certainly has become a lot more prevalent in the last few years, and there has been far more growth in the Recruitment Process Outsourcing (RPO) Market. The recruitment market in Singapore is becoming extremely competitive; I don’t know the exact number, but there has been a significant increase in the number of recruitment companies set up in Singapore. Big companies who have access to infrastructure funds have built on their internal talent acquisition teams or mandated an RPO provider to come in. Despite being a relatively a young industry, there has been a lot of growth and is continuously adapting to the changing business needs.

What challenges is the industry facing today? There are several, from how companies are adapting to business needs and how are they finding people to how they are retaining them.Other factors that add to the challenge are regulatory changes, particularly within the financial services sector and the banking industry. We have seen a lot more changes from the MAS as well. These challenges have put more pressure on organisations from greater cost perspectives involved in that as well.

How have these impacted the Singapore market?

Despite these changes and challenges, one thing that has remained is that Singapore continues to grow as a key hub for Southeast Asia, and we work every day with companies from all sectors that are still coming to Singapore and setting up their offices here for both Singapore opportunities as well as from a regional perspective. That’s really exciting; I mean, there are a lot of people who recognise increase in costs, but know that this is an extremely good place to do business.

You mentioned government policies earlier. What impact do the Fair Consideration Framework and Foreign Manpower policy have on businesses in Singapore? The principle behind fair consideration— Singaporeans being fairly considered for opportunities here—is absolutely right. There are fantastic talent pools of Singaporeans and PRs, and companies that are setting up here need to tap into this pool. This does not mean that nonSingaporeans can’t get jobs in Singapore.

The problem we see is that this is a hugely competitive candidate space; job numbers are growing and the talent pool isn’t growing as exponentially, so there are some gaps created. Therefore, quite often, a lot of companies might set up here with

somebody from their organisation who has come from Australia, the UK or US. This is more around the fact that this person understands the DNA of that business and can ultimately set it up successfully, after which it hires local talent. I don’t believe that the Fair Consideration Framework has a huge impact on whether companies set up here. I think the challenge is in getting the right talent—but that’s the same in other countries. We have been through the same cycles in other parts of the world. Ultimately, everyone in Singapore has seen its successful economic growth. There has been a lot of hiring of both local and international talent, which has

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contributed to this success. When countries reach this point of success, it becomes necessary to draw clearer guidelines around employment. We see that in the UK, Australia, the US, etc. Singapore is no different, and the latest mandate in terms of hiring—everybody is in support of that.

What does the market place look like for jobseekers in 2015?

The Singapore market is extremely candidate-driven. What I mean by that is that it’s a healthy job market. We recently produced a report called the Asia Job Index, which gives us a very good overview of the job market in Singapore. Based on this, we know that our big focus at the moment is supply: finding the talent, attracting them and retaining them as well. This is good news for all the local talent here.

Share some of the findings from this report.

What we are seeing here, with the Fair Consideration Framework gathering pace, is that the demand for local talent rose across industries. However, it remained a candidate-driven market, which left positions vacant for extended periods and longer-running job advertisements. Singapore continues to be an economically viable choice for multinationals and SMEs to establish their Southeast Asian hub despite increasing operating costs and competition from other countries in the region. Hence, we are likely to see more new-to-market jobs and opportunities driving wage inflation. In particular, oil & gas and manufacturing companies remained strong employers as

many are attracted to Singapore for its strong infrastructure. Overall, Q2 2014 compared to last year saw a 28% increase in jobs, which is quite significant. Q2 is also the biggest quarter of the year for recruitment, the reason being that it’s the post bonus period, and we see a lot of movement post bonuses by candidates who perhaps are looking to leave for better opportunities. That creates a whole circle of job leavers and jobseekers finding jobs around this period of time. Some of the biggest changes we have seen are in • Medical services which saw a 37% increase. If you look at the pharmaceutical market and what’s

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happening in the local space, it makes sense • There is an 80% increase in HR spaces as well. Again I am not surprised about that since there is a lot focus on two key areas on retention and talent acquisition, as well as remuneration. There is a lot more focus now on what executives are getting paid and how that is being controlled and measured. • IT remained a challenging sector to attract talent, particularly at the junior level, which drove job advertising up by 67% from 2013. Accounting and Finance saw a 91% increase. This basically incorporates other financial services such as banking, compliance and risk management professionals. A large portion of that is down to regulations from regulatory bodies such as MAS, for example, which has increased the job flow. Another area has also seen growth quite a bit is the contracting market, which traditionally in Singapore was not popular because of the perception that you can’t get a permanent job if you are on contract. But Singapore has evolved, and contract jobs are starting to get better response. It has also opened up an additional pool of candidates, for example, working mothers who would prefer to get back to work but aren’t able to work full time due to family commitments, or you’ve got companies that might be offshoring, which is happening a lot at the moment, and don’t have permanent head count and therefore they will hire professional contractors for six to 12 months.

You referred to IT. How has advancement in various profiling tools, technology and online channels impacted your business? We are fortunate in the sense that we have been here since 1998, which is quite a long track record. Recruitment is a relatively young industry, but we

In Focus: Toby Fowlston, Robert Walters

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

I cannot comment on every company’s diversity policy, but I would say that our role as a support partner to our clients is to make sure the best candidates are chosen from a diverse range of people. But it ultimately comes down to hiring the best person for the role.

have been able to build up a lot of good relationships and intellectual property here as well.

job is to present the right type of role to them and to encourage them to take that on.

That said, technology for us is a good thing. It helps us communicate better and ultimately supports what we do.

Diversity is getting significant attention these days. Do you see many companies embracing this?

Lets look at psychometric tests. In my experience, a larger proportion of companies we deal with don’t perform any psychometric tests; they base it on just face-to-face meetings and formulate a decision. In many cases, one also looks at social aspects of the interview, which might not necessarily be addressed in such tests. My preference is that these be done in the beginning of a hiring process than in the middle or the end because sometimes people don’t get through those tests, but people actually pass a face-to-face with flying colours. Online channels such as LinkedIn help a lot of in-house talent acquisition teams, but there might be some niche skill sets that are not necessarily available via these channels. In our role as recruiters, we spend a lot of time talking to people who are passively looking. They might be interested, but they are not really actively pursuing a role. Our

That’s a topic that people are talking all the time and have done so for many years. I think it is our responsibility to offer a fair chance to everyone. I cannot comment on every company’s diversity policy, but I would say that our role as a support partner to our clients is to make sure the best candidates are chosen from a diverse range of people. But it ultimately comes down to hiring the best person for the role.

What is the biggest lesson you have learnt from the HR business?

Personally, I think you learn from people throughout your career, based on a good or bad experience, in terms of expectations and the framework you want to operate within. I think ‘listening’ is a key part of any leadership role; so is being open to thoughts and comments to ultimately make decisions. I am far from perfect, but when I make one, I think back on how I could have done that differently and not repeat the same.

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Feature

Unlocking Opportunities in Big Data By Peter Simons, Head of Finance Transformation Research, CIMA Big data is no longer just for big companies. SMEs can now tap on online or cloud-based solutions to crunch their numbers and gain new insights at a price that suits their pocket.

he term ‘big data’, the business buzzword, refers to the tools and processes that allow an organisation to capture, manage and analyse massive quantities of information. According to an international survey we carried out with our joint venture partner the AICPA (American Institute of CPAs), 86% of organisations are struggling to turn growing volumes of data into valuable insight. The volume and variety of data available for analysis are expanding exponentially.

Meanwhile, increasingly powerful technologies have emerged to enable more sophisticated data management and analytics. The wealth of data sources available today includes call-centre recordings, external data feeds, machinegenerated data and customers’ social media posts. These related trends are combining to enable today’s organisations to unlock new sources of insight and value. Big data and analytics provide numerous opportunities for small and medium enterprises (SMEs), too. While smaller

companies typically have limited resources and smaller budgets, they do have other advantages: typically, a more flexible IT infrastructure, with fewer legacy system issues or disparate databases, and an ability to change practices quickly. Our survey results show that, while small companies are more likely to rely on intuition than data to make decisions, they also understand the opportunities that big data presents. In this data-driven era, SMEs that choose to ignore the value of data in decision-making run the risk of losing out to

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others who are gaining new insights from their data. Using specialist software and data services, SMEs can combine existing enterprise data with external data to uncover new insights. While traditional tools from major vendors may be unaffordable for many SMEs, many online and cloud-based options are available to help analyse data—including Google Analytics, Kaggle, Swipely and Tableau. These give SMEs access to powerful means for making sense of their business performance in new ways without the hefty price tag. This can start at the most basic of levels: when Morey’s Piers, an amusement park operator in the US, wanted to assess the

About the Author Peter Simons is the Head of Finance Transformation Research at the Chartered Institute of Management Accountants (CIMA). Founded in 1919, CIMA is the world’s leading and largest professional body of

relative popularity of different rides, it literally bagged the paper tickets and weighed them. Today, electronic gate scanners provide clear data on which rides are performing and which need to be switched. For Sweaty Betty, a UK women’s retailer, the data and the geo-demographical services from Experian provided them with detailed insights into their customers’ profiles and helped determine new store locations. Some small businesses are even developing new data services off the back of these software tools. Powerhouse Factories, a brand building agency, has adopted data tools from Tableau, a data analytics platform, to replace its prior reliance on Excel and help visualise issues for clients, such as showing

Management Accountants, with more than 218,000 members and students operating in 177 countries, working at the heart of business. CIMA has formed a joint venture with the American Institute of CPAs (AICPA) to establish

how delays at checkout queues affected a retailer. These tools are changing the data possibilities available to SMEs without the huge financial commitment to IT service providers. Big data raises challenging questions about the future role of finance. It needs to look beyond traditional business metrics and recognise the commercial potential of embracing a wider set of data. In addition to the essential financial and enterprise data they already work with, finance will need to review other non-traditional sources of data in order to gain a more thorough understanding of business performance. Management accountants have much to gain from and contribute to this new era.

the Chartered Global Management Accountant (CGMA) designation. CGMA is the global quality standard that further elevates the profession of management accounting. www.cimaglobal.com

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Feature

Branding for Winning By Jingle Chen The BritCham Young Professional of the Year 2013 shares some winning tips how you can brand your business and yourself.

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1. Be. Have. Do

Most people feel that they must do what needs to be done right now in order to achieve what they want or to become somebody they aspire to be. On the contrary, try approaching it from being who you think you are, then having the power to do whatever you need to do. Being authentic from the start gives you a clearer direction to stay the course. And having a winner’s mindset from the start certainly propels you into thinking and behaving quite differently—a big contrast from trying to undertake things to be a winner.

2. Design it well

The greatest gift of being human is the ability to use technology now to improve our lives. From designing a good user interface to charting how a business operates and functions, all these require smart thinking and connection with the right people. When

designing for visual impact, don’t forget about crafting for substance and content that inspires.

3. Talk to people

Human interactions broaden perspective. Ask the right questions and you will get the right answers. Know when to take pointers seriously and when to let go of unconstructive comments. Practise making choices with clarity, without being affected by pressure or emotions. Listen for inspiration and insights to discover your own wisdom in your trade.

4. See it from all sides

When crafting a message, read and study it many times. A message that pleases the boss might not connect to the customer. What is your goal? Can words and sentences be made simpler? Is there any value in writing more? Last but not least, mean what you say. Impress, but be careful not to over-promise.

About the Author Jingle Chen is the Director of Anamics Creative Group, a Singapore-based agency specialising in branding, graphic design, photography and videography. Set up in 2003, it has since worked with many international brands such

as Raffles Hotels and Resorts, Citibank and Unilever. Anamics is the preferred partner of many companies because of its knowledge in brand execution, print production and graphic design. Anamics won the 2013 Singapore Outstanding Enterprise. It was

5. Initiate, not react

One way of being outstanding is not to ask what people want, but to give them a product or service they do not even know they need. Have the foresight and creativity to initiate a spark that gives you the opportunity to learn new ways to connect with others. Be the first mover in everything, including erasing your own perceptions and re-learning new ways of thinking.

6. Start and end with how you want to be remembered

A person has 60,000 thoughts a day on average—most of which are redundant and do not serve any purpose. The devil is in the details, so be sharp and straight to the point in execution. The things in life worth remembering are those that stand the test of time and are delivered consistently.

also the Category Winner for the Conqueror Design & Print Awards in 2011. Jingle Chen was named Young Professional of the Year Award at the 14th Annual Business Awards organised by the British Chamber of Commerce, Singapore.

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Expats Under-saving By Peter Huber Expatriates are under-saving and there is a significant and growing protection gap. Peter shares his views within a Singapore context.

or many, life as an expatriate is a great opportunity to experience working in new cultures, with diverse teams and, of course, travel to different countries. Depending on your stage in life, it can also be an opportunity to build up savings and nurture your nest eggs and it makes most sense financially for those in their younger years to start building protection cover early. As expats, the level of international mobility we enjoy in both our working and personal lives is, of course, a huge lifestyle benefit, and a natural outcome of the increasingly globalised world in which we operate. While we have more potential to save and better protect ourselves from future uncertainties, through our presumably higher disposable income, mobility brings important considerations for how we do this, given changing domiciles, different currencies and general uncertainty over future plans. However, there are numerous surveys around that illustrate the extent to which we as expats, together with the broader

About the Author Peter Huber is the CEO for Zurich Global Life Singapore. He joined Zurich in 2013 and has over 20 years of industry experience in Europe and Asia. He has previously worked for SwissRe, where he was last

population, are under-saving, and how there is a significant and growing protection gap. There are many reasons behind this, including the fact that Singapore is officially one of the most expensive cities in the world, the great temptations of frequent regional travel as well as the danger that these key periods of our lives when we should be building protection are overshadowed by a sense of transience. As an expatriate living in Singapore, I have first-hand understanding of the complexities of financial and protection planning when there is uncertainty as to where you might be based in five, ten, even 15 years ahead. Indeed, there are many other unknowns that need to be factored into our approach to planning, regardless of where we work such as changing financial circumstances, changes in health and life-changing family events. Alarmingly, cancer is the main cause of death in Singapore. Just because we live our lives as expatriates does not mean we are any less at risk of diseases such as this,

Managing Director in the Reinsurance division based in Switzerland and Allianz Asia-Pacific where he was Regional General Manager, Life & Health based in Singapore.

which curtails the lives of so many, and drastically impacts their ability to work and provide for their families. It is these risks and challenges that show us why protection is so important: so that we can protect those whom we love, limit financial insecurity and ensure that we can continue our day-to-day lives come what may. There are many great solutions available to us here in Singapore that we can choose from to enhance our protection coverage. The Life Insurance Association and its members, including Zurich, are working relentlessly to close Singaporeâ&#x20AC;&#x2122;s protection gap that was valued at S$462 billion in 2012, while the programmes such as MoneySense are successfully working to enhance financial literacy, and, therefore, understanding of financial planning and protection products. As expats, we should take advantage of initiatives such as these while also pushing ourselves to think more about our future life events and how to ensure we are ready for these hurdles, whichever country we are based in.

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A famous “Prussian Blue” printing error valued at GBP7,500 in 2004 and currently priced at GBP18,000

Investing in Rare Stamps and Coins Makes Sense in Today’s Volatile Market By Eric Chua, Head of Investment, Singapore Investing in history has been proven to be stable option and largely immune to economic events.

iversification is vital in the new fragile economy that has emerged over the past few years. However, there are still relatively few investors who have identified the benefits of diversification, and that is why, time and time again, wealth is destroyed when there is a stock market or house price correction, as most investors are overexposed in these areas.

Rare investment-grade stamps and coins have proven to be a stable, non-correlating asset, largely immune to economic events. This stability can be attributed to collectors— not the fear, greed and speculation that generally drive financial markets. Prestige collectors wait years before finding a particular stamp or coin they are looking for, and when they get it, they are likely to

hold on to it. Collectors do not rush to sell at the first sign of an economic downturn; if anything, they will add more to their collections. Coins have been around for more than 2,500 years, whereas stamps have been collected ever since the Penny Black was issued in 1840; investing in stamps and coins

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A block of “Red Revenues” from 1897 with the $5 surcharge inverted

is a relatively new phenomenon, however. The distinction between collectible and investment-grade stamps and coins must first be understood though. Collectible stamps/coins are collected by people who are interested in philately or numismatics. Investment-grade stamps and coins, on the other hand, are identified as having the potential to grow in value, primarily based on their rarity and condition. Only a very small fraction of all stamps and coins are considered investment-grade and therefore likely to increase in value. Each requires a detailed appraisal, so it is vital to find an expert as there are numerous factors to take into consideration. The GB250 Rare Stamp Index, which tracks performance of all British stamps valued at S$20,000 (£10,000) and above, and which is quoted on Bloomberg Professional ® service, has shown an average compound annual growth rate (CAGR) of 13.1% over the past 12 years. The GB200 Rare Coins Index has

One of the last “Pre-Union with Scotland” Queen Anne Five Guineas Gold coins from 1705 (recently sold for GBP90,000)

shown an average CAGR of 13.3% over the same period, while the Top 200 most sought after Classic Chinese stamps have shown an average CAGR of 11.6% between 1989 and 2014. For a longer term view, look at the GB30 Rarities Index (STGIGB30 on Bloomberg Professional ® service), which has shown an average CAGR of 10.1% over more than 40 years. The GB30 and GB250 indices also increased by more than 30% between 2007 and 2008 when global markets collapsed, clearly

About the Author Eric Chua is Head of investments for Stanley Gibbons (SEA) Pte Ltd here in Singapore. Backed by a specialist team comprising some of the world’s most well-respected philatelists and numismatists, Stanley Gibbons (est. 1856)

as well as its subsidiary A.H. Baldwin & Sons (est. 1872) bring expertise in relation to investment in rare stamps, coins and other premium collectibles to the Asian Market. Storage (in Singapore Freeport) and insurance are free of charge when investing with

demonstrating rare stamps and coins’ lack of correlation to global economic events. Finally, an investment in rare stamps and coins is not only for the super rich, starting at around $30,000 (£15,000), which will give the investor a portfolio comprising five to seven stamps and/or coins. Much of the appeal also lies in the fact that this type of investment is easy to understand and straightforward to execute. Investors own the asset (the stamps/coins representing a piece of history), so there is nothing virtual about it.

Stanley Gibbons, there are no management fees during the holding period, exit options are contractually documented from the outset and a lifetime guarantee of authenticity is issued for everything that is included in investment portfolios

THE KING WHO SOLD HIS QUEEN SO HE COULD MARRY HIS MISTRESS. King Carol II of Romania was exiled in 1940. He left in a train laden with Royal Treasure: paintings by Titian, Rubens, Rembrandt, plus jewels and even the ceremonial armour. And of course, his prized stamp collection. A Nazi-financed death squad fired on the Royal Train, but failed to stop it. The King and his mistress lay on the floor and escaped injury from the bullets. Later, when exiled in Mexico, he sold part of his famous stamp collection to raise funds for his marriage to his mistress. Among them was this fine example of a ‘frame inverted’ error. Queen Victoria’s statue is the right way up, but her name and the rest of the stamp’s frame is upside down. Unsurprisingly, given its pedigree, the investment performance is very strong. An example of this stamp sold at auction for £19,000 in 2005; the most recent example sold in 2012 for £30,000. That’s a rise of 57% in just 7 years. A paper by Elroy Dimson (London Business School and Cambridge Judge Business School) and Christophe Spaenjers (HEC Paris) showed that, last century, British stamps recorded an annualised growth of 7%, outperforming bonds and even gold*. Although past performance does not necessarily give a guide for the future, rare stamps can offer you a store of wealth unlike many other investments. And, as King Carol II knew, the right stamps can make you money.

INVEST IN HISTORY sginvest.sg/mistress Call the dedicated Singapore Investment Manager, Eric Chua, for more information: 6438 4381 The value of your investment can go down as well as up and you may get back less than you put in. Stamps and certain other collectibles are not designated investments for the purposes of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 and as such are not subject to regulation by the Financial Conduct Authority (FCA) or otherwise. *Elroy Dimson and Christophe Spaenjers, “Ex post: The investment performance of collectible stamps”, Journal of Financial Economics, Volume 100, issue 2, May 2011, pages 443–458. Prices quoted are as sold where stated. Auction prices exclude any premiums. Please note: Past performance does not necessarily give a guide for the future.

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The Changing Priorities of a New Dad By Julie Hutchison A recent conversation with her friend who became a new dad got Julie thinking about top tips and an investment checklist.

id you once play fast and loose with your money, in the days BC (before children)?

I caught up with a friend of mine who’d recently become a dad and, over a drink in a pub, he talked me through how life had changed in the last few months.

No more investments that are ‘worth a punt’

He described himself as a reformed cavalier investor who had seriously de-risked his portfolio.

After his small person arrived, he said the change was instinctive and necessary. No more high risk, speculative investments in single company shares that may come good one day. There was more to lose now, and it was no longer just about him. Someone else was now the priority, and exercising influence over his investment decisions without even being able to talk yet. His timeframe for making plans used to be 0–3 years. Now it’s more like 18–25 years, as the prospect of education fees comes onto the horizon. It’s all about the long term now,

no more short-term vision. And for the first time, my friend had paid close attention to the tax year-end period. He had made the most of tax efficient investing by topping-up his 2013/14 ISA before it was too late. In years gone by, he hadn’t always bothered.

How to save for children

We then got talking about the options for how to save or invest for children. He thought starting a child savings account with a bank is the solution to keep aside some spare cash for the young one. Little did he realise that, with the current interest environment

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Feature: The Changing Priorities of a New Dad

It really boils down to creating regular savings habit with potential investment returns that could overtake inflation.

providing less than 1% annual interest, that’s no way to be growing a sizeable account for your junior for his changing life needs with investment return that is lower than inflation. I got him thinking about one of the oldest financial advice: it really all boils down to creating a regular savings habit with potential investment returns that could overtake inflation. On top of having a good investment vehicle, having a little one at home does open up a different perspective for new dads when you understand the need to plan for both your future and his.

Top tips to help new dads

It got me thinking about making a checklist for new dads, which he’d made a start on.

About the Author Julie Hutchison, Head of Customer Affairs at Standard Life is our family finances expert on http:// www.lifeoutlined.co.uk. She provides advice to help people plan ahead for life events. Whether that’s a

1. Review your investments. 2. Consider the risk profile of your investments—do they still reflect the risk you are willing to take? 3. It’s not nice to think about, but be practical—do you have enough life insurance in place? 4. Have you made a will (or reviewed your will if it’s updated)? 5. Have you appointed a guardian to your new arrival, just in case something happens to both parents? You can name this person in your updated will. 6. Have you made a Power of Attorney, the kind that keeps working if you become unwell? My friend hadn’t thought of this one—but if dad’s the main breadwinner, then it’s vital that

new addition to the family, getting married, saving for retirement or how to pass on something to their grandchildren – there’s financial, tax and legal issues to navigate.

his finances can keep ticking even if he has an accident or becomes unwell. His family may be relying on his financial support more than ever, and a Lasting Power of Attorney (Continuing Power of Attorney in Scotland) is important. 7. Have you updated your Expression of Wishes form for your pension death benefits? 8. From a workplace perspective, if a death-in-service lump sum is part of your employment package, does your Expression of Wishes form need to be updated? 9. Don’t forget your pension payments or retirement funding—it’s sensible to try to maintain your long-term savings, even though there’s more pressure on your finances now. Most pensions are flexible and allow you to increase or decrease your monthly payments. 10. Have you made use of any Child Benefits provided to your family? There could be tax benefits for UK taxpayers or child savings pay outs for Singaporeans. If you’re a new dad and follow these top tips, you can at least make sure your lack of financial planning isn’t the reason for your sleepless nights.

Invest for your little genius Good quality education is a priority for every parent. Almost half a million dollars is needed for education and that's just the cost for one child. At Standard Life, we are here to make it easier. With our Regular Savings Plan Wealth, you can save towards different financial goals, with varying time horizons in a single savings plan. Without having to worry about fees and charges on multiple plans. We make savings simple and flexible for you so that you can focus on what's important in life. Find out more online at bit.ly/invest-in-your-little-genius

Standard Life International Limited (Singapore Branch) is the Singapore branch of Standard Life International Limited and is registered in Singapore (T12FC0118K) at 30 Cecil Street, #26-00 The Prudential Tower, Singapore 049712. Authorised and regulated by the Monetary Authority of Singapore as a direct life insurer. Standard Life International Limited is a company registered in Ireland (number 408507) at 90 St Stephen’s Green, Dublin 2. Standard Life International Limited is authorised and regulated by the Central Bank of Ireland. www.standardlife.sg 0914SG1149 V1 ©2014 Standard Life, images reproduced under licence

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Singaporeans Working Overseas Have Higher Appetite For Investment By Chris Gill, General Manager SEAsia, Friends Provident International Limited (Singapore) Branch Friends Provident International’s latest Investor Attitudes report highlights significant differences in investment sentiments for people who have worked abroad.

etween 12 and 23 Sep, Friends Provident International (FPI) conducted the fifth edition of their Investor Attitudes survey for Q3 2014, taking a closer look at global mobility trends and their impact on the emerging affluent* and affluent individuals**. For globally mobile individuals, the report revealed a significantly higher investment appetite across all asset classes compared to those who have not worked abroad in the past five years. Chris Gill, General Manager, Southeast Asia, at FPI, said, “Anyone who has worked abroad would have broadened his horizon with exposure to foreign currencies as well as experiencing different economies and markets. This perspective appears to imbue these individuals with a more open sentiment towards investing in a variety of asset classes.” In terms of financial planning, the majority

of these globally mobile individuals found the process of setting up their financial plans difficult, with 60% of the respondents expressing that it was complicated. For those with kids, education planning was by far their greatest challenge while working abroad. As a result, more than half of the Singapore respondents continued their relationship with their banks (64%), insurance providers (60%) as well as financial advisers (59%). However, respondents cited a lack of face-to-face support and tailored advice as key reasons for switching provider from their home country to their host country. John Van Der Wielen, Executive Chairman at FPI, said, “The statistics from our latest survey reconfirms that global mobility is an emerging trend in the region, with more than half of those surveyed actively travelling and living abroad. Singapore and Hong Kong are important financial hubs in Asia and, as such, the investor pool here is increasingly mobile, in

addition to being mature and financially savvy. Interestingly, the negative Asian sentiment in our past three Investor Attitudes Reports has been a good indicator to the recent market turmoil. It has hit the lowest score since its inception in Singapore and, looking at current volatile market condition, our respondents were correct in their feelings. The increasing trend of people working and living abroad has highlighted the concern of whether financial providers are well-equipped to service customers seamlessly from one end of the globe to the other. This expectation is further heightened by the increasing reliance on technology over the years, such as the use of the Internet as a source of information rather than relying on local experts only. With a significant portion of respondents finding the financial planning process complicated and experiencing a lack of support, this may present opportunities for

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financial providers, such as Friends Provident International, to look into better ways to help our customers transit between nations without a hitch, and to maintain our valuable relationships with them.” The survey also showed that those living abroad believed in the importance of insurance, with 76% of the globally mobile expressing that they feel insurance is more important now as a means to preserve and accumulate wealth compared to 63% for those who have not worked overseas in the past five years. While CPF is a good foundation for retirement, respondents

recognised the importance of planning ahead for that eventuality and ensure they have sufficient funds during their golden years. Respondents stated that propertyand investment-linked products are the top two investment options to accumulate wealth and meet their retirement needs. Furthermore, the survey revealed that only 39% of the Singapore respondents who have worked abroad for more than six months in the last five years will consider retiring in their home country. Better quality of life and lower cost of living were cited as key reasons for choosing to retire in other

To be included in the survey, respondents had to meet the following criteria: Region Hong Kong Singapore

Emerging Affluent*

Affluent**

Investable assets of HK$500,000– $999,999

Investable assets of HK$1 million

Investable assets of S$80,000– $199,999

Investable assets of S$200,000– $1 million

countries, with Australia and Malaysia emerging as popular locations. The report also indicated that emerging affluent and affluent investors in Singapore and Hong Kong are not certain about the current investment climate. The Singapore Index scores dropped two points to 11 compared to 13 in Q1 2014, while Hong Kong maintained its Index score at 15 from Q1 2014. To view or download a copy of the latest Friends Provident International Investor Attitudes report, please visit www.fpinternational.sg

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British High Commission

UK-Singapore Unlimited Scope for Future Cooperation British High Commissioner HE Antony Phillipson recently spoke to The Straits Times on bilateral cooperation and growth.

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The Brit Cham has been around for 60 years now. That is even before Singapore celebrates its 50th birthday. Please give your thoughts on the long-standing ties that Singapore has had with Britain in trade and other dimensions. The relationship between Singapore and the UK is based on a shared heritage stretching back almost 200 years. While a close economic and business partnership has been a constant feature throughout that time, we also have many common security and defence interests that we can and do pursue together, including through the Five Power Defence Arrangements. There are also extensive people-to-people links that have developed over the decades, not least as a result of the huge numbers of Singaporean students who go to the UK each year.

In your mind, what are the key nontrade benefits of the strong trade ties between the two countries?

It is often said that Singapore and the UK are key hubs for each other in their respective regions. The basis of that linkage may be the economic and business ties that have developed over the years, but they also sustain vital partnerships in areas such as education, science, innovation and research, as well as a political commitment to working together in all areas where we can make a difference. I have often said in my time here as High Commissioner that the key to the future partnership between the UK and Singapore is to make sure that we continue to develop the agenda for cooperation between us, building on the platform of what has gone before. These are the key

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themes that we will be celebrating in a few weeks during President Tony Tan’s state visit to the UK.

Moving forward, are there specific areas that the two countries could work on? What further social and international benefits do you see down the road for the two countries? Frankly, I think there is almost unlimited scope for future cooperation. We are both countries that rely on a world where trade and investment can flow freely, and where international rules are both developed to that end and adhered to. We are both looking to develop a knowledge-based economy that will provide for the future

About the Author HE Antony Phillipson British High Commissioner This interview was originally published in The Straits Times “British Chamber Awards” Supplement on October 03, 2014.

British High Commission

prosperity of all our people. The challenge is to define the agenda and develop the necessary partnerships between us and with others to achieve it. In the last few years, we have seen a step change in high-level engagement between us, both here in Singapore and in the UK, which is all part of ensuring that we make the most of what each of us can bring to the relationship.

What roles do you think the British Chamber of Commerce can play— besides fostering trade—to further strengthen ties between the two countries? The fact that the British Chamber is celebrating its 60th anniversary this year,

one year before the 50th anniversary of Singapore’s independence, is testament both to the Chamber’s long-standing and enormous contribution that it has made to the UK/Singapore relationship. That is why we at the High Commission have been so pleased to help mark this important milestone at a number of events this year. The support that they can offer to companies, either new to Singapore or well established, is vital to ensuring that our economic and business ties continue to strengthen, and that they will remain the bedrock of the broader relationship between us for the next 60 years.

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Creativity at the Heart of Business By Abby Chan Creative industries has played an important role in UK’s economy. Here is an update from UK Trade & Investment.

n IBM global CEO study reveals that the majority of CEOs believe creativity is the most important leadership quality in today’s dynamic economy. Another neuroscience research supports that creativity is fundamental to the success of any business. While numbers are crucial to business growth, so is creativity, because creativity drives innovation, innovation stimulates progress, and progress contributes to the sales figures. Being fresh, original and innovative in thinking seems to be the way to stay ahead of the game in the global market, where creativity has become the primary engine of growth in developed economies.

The talent, capability and demand for the creative industries has played an important part in underpinning the UK’s economy. Billions of pounds-worth of creative products and services are exported by the UK each year. From the Beatles and Bond to Sherlock and Thomas Heatherwick, UK creativity is hugely influential in global media, entertainment and the arts. Elements of the UK’s creative footprints can even be found in Singapore’s history, from the Merlion, a national symbol of Singapore designed by British ichthyologist Alec Fraser-Brunner to the modern Gardens by the Bay, designed by UK landscape architects Grant Associates, UK creative pioneers and entrepreneurs pride

UK creative pioneers and entrepreneurs pride themselves on working in cross-disciplinary collaborative teams, providing business with the creative imagination that drives commercial success.

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themselves on working in cross-disciplinary collaborative teams, providing business with the creative imagination that drives commercial success. Despite their individual specialties, all of the UK’s creative sub-sectors—from advertising, animation and architecture to music, film and publishing—are interlinked and join together to make an immensely powerful team. The cross-disciplinary nature of the UK’s creative industries is a major

British High Commission: Creativity at the Heart of Business

advantage, as it encourages the sharing and cross-fertilisation of ideas to create a real buzz.

strategy was developed by UKTI in collaboration with its industry-led Creative Industries Sector Advisory Group.

In 2013/14, UK Trade & Investment (UKTI) helped some 7,500 creative companies with their export plans. In addition to its business support, the government will continue to help raise the profile of the creative industries at home and abroad through the UK Creative Industries International Strategy. Introduced in late 2014, the

Every country is looking for great creative partners. Companies seek the most creative people to work with and the cities with the most creative people in them. This is why the UK is the bestpossible creative partner for any other nation in the world.

About the Author Abby is currently Trade and Investment Manager leading on Creative sectors at UK Trade & Investment (UKTI) based at the British High Commission in Singapore.

If you are interested to look for UK expertise in the creative sector, understand how UKTI may assist your business, or find out more about the Creative Industries International Strategy, please get in touch with Abby Chan. Email: abby.chan2@fco.gov.uk

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Special Feature

15 Annual Business Awards:

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Celebrating Business Excellence in Singapore

Special Feature: 15th Annual Business Awards

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Finalists pose with Paul Polman, HE Antony Phillipson and Hugo Walkinshaw

ight deserving companies took home the coveted Business Awards at the 15th Annual Business Awards held at the Shangri-La Hotel on 1 Oct 2014.

Winners received their awards from Guest of Honour Dr Vivian Balakrishnan, Minister

The Annual Business Awards, which have become a feature in the Singapore business calendar, saw a strong showing of local entries this year, with several submissions coming from local organisations. Despite changing the categories this year, the Awards had a total of 58 submissions for all eight categories. In all, the Annual Business Awards Committee shortlisted 18 organisations and six individuals, of which 10 nominations were from local firms.

Minister for Environment and Water Resources, Dr Vivian Balakrishnan spoke about success and sustainability

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for Environment and Water Resources at the Gala Dinner, which had an attendance of more than 400 guests.

In his speech, Dr Balakrishnan encouraged companies to take a long-term view and consider long-term impacts on the people and environment in which they operate. “The fundamental problem is not the environment; the fundamental problem is that there are misaligned economic interests,” he said.

Unilever CEO Paul Polman spoke about need for sustainable business models

Paul Polman, CEO of Unilever, was the evening’s keynote speaker. His speech echoed the Minister’s thoughts: “Business should be running in a sustainable manner and not just focus on quarterly fiscal performance.” He also said that there is a huge challenge ahead of us in meeting the demands of the fastgrowing population of the world. Rudi Geerdink, Country Executive of RBS Singapore and Chairman of the 15th Annual Business Awards Committee, said, “We saw some strong contenders for this year’s awards, and it was a close call between the finalists. The winners were chosen based on merit; in some cases, Singapore corporates are comparable to global MNCs and on a similar level playing field. It is this availability of talent, dynamism and excellent business practices that continue to contribute to Singapore’s economic success.” Established in 1999, the Awards recognise and celebrate outstanding achievements across the various business sectors. It has since grown in stature to become one of Singapore’s most prestigious accolades, garnering the continued support of the Economic Development Board (EDB), Singapore Business Federation (SBF) as well as UKTI, British High Commission and EuroCham. Every year, 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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Special Feature: 15th Annual Business Awards

The new categories launched this year and their winners:

Leadership in Customer Focus

Sean Boyle receives the Award

Category judge Mike Barclay – Chief Executive Officer, Sentosa Development Corporation commented “The British Club’s submission demonstrates a commendable clarity of purpose, with a strong focus on customer service and a strong commitment to the quality of the Club’s key offerings. The British Club measures and tracks the effectiveness of these initiatives and demonstrates good outcomes in terms of customer satisfaction, membership retention, membership growth and improved financial performance.”

Leadership in Diversity

Wen Brother receives the Award

Category judge Penny Burtt – Director of Public Affairs and External Relations for Asia, McKinsey & Company commented “BP has made a distinctive public commitment to leadership in diversity at the very highest level of the organisation, and explicitly recognise that the success of BP depends on a culture that not only promotes business creativity, but celebrates diversity. It has an explicit target of 30% women in leadership positions by 2020. Consistently tracking its progress on diversity and inclusion, BP has an ecosystem of measures designed to drive diversity at every level of the organisation.”

Leadership in Innovation & Productivity Category judge Bruce Poh – Director & CEO of Institute of Technical Education commented “IECO’s leadership has implemented comprehensive and pervasive innovation and productivity improvements throughout the company. Its relentless quest for improvements include capability development of multi-skilled technical workforce, flexible A joint venture between Rolls-Royce & SIA Engineering Company work schedule, continuous improvement initiatives, capital investments in systems and processes, innovation in new repair development and customer support. These have resulted in tangible outcomes, enabling IECO to attract and retain customers with lower pricing and better service, pay their employees higher wages and generate better profits for the company.”

IECO

Steve Price receives the Award

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Leadership in Sustainability

Category judge Ynse de Boer – Managing Director, Strategy & Sustainability, ASEAN, Accenture commented “Sindicatum is an excellent example of corporate sustainability. By building a profitable business on renewable energy, Sindicatum not just maximises its positive impact on the environment and society today, but also ensures the longevity and growth of this positive impact. After all, profitable business still is among society’s strongest and most powerful forces for action. Dr Jay Mariappan receives the Award

The challenge for every business is to find or to innovate one or two existing or new parts of their business that could become a next engine for profitable growth, while at the same time addressing a societal or environmental issue at scale.“

Success in Business

Category judge Jonathan Asherson – Regional Director, ASEAN and Pacific, Rolls-Royce PLC commented “A very clear strategy, proven success and strong growth. Substantial recognition in the marketplace and a motivated workforce mean that Reading Room has a strong base from which to grow.” Margaret Manning and Sam Booth receive the Award

Small Business Rising Star

Jonathan O’Byrne receives the Award

Category judge Danielle Warner – CEO, Expat Insurance commented “Collective Works established its concept and brought its vision to life in such a short time that it is to be highly commended. The growth in its concept and client base, and commitment to members clearly demonstrate strong business acumen that has provided ongoing and significant success. Implementation of innovative member engagement strategies and social media campaigns have established Collective Works as a true market leader in its sector. Measurable results and an outline of long-term plans make Collective Works a small business to congratulate and watch.”

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Special Feature: 15th Annual Business Awards

Young Professional of the Year:

Miles Gooseman receives the Award

Category judge British High Commissioner HE Antony Phillipson commented “Miles Gooseman has demonstrated the strongest combination of an impressive business record over many years, and in different companies, with a consistent focus on customer delivery and business development. At the same time, he has made an outstanding contribution to the Chamber through the Young Chamber initiative. There is a clear sense of purpose and direction around his future plans. Miles had the best all round submission, and a longer back-story.”

Community Star

Andrew Colyer receives the Award

Category judge Mr Eugene Yong Kon Yoon – Executive Director, Woh Hup Holdings Pte Ltd commented “Having been a member of the organisation committee and participated in the Wheels For Change programme in the UK since 2011, Andrew Colyer, Head of Commercial Legal, Asia in Barclays continues to show passion and leadership by bringing the Wheels For Change programme to Singapore after moving here last year. It must have taken a lot of hard work and planning to organise this event in Batam, Indonesia, with so many participants from different corporations. By working with the Singapore Disability Sports Council, the programme benefits the wider disabled community in Singapore. His future plans to promote this event internationally is commendable, and in continuing to work with the Singapore Disability Sports Council to explore other ways of partnership and fundraising, the programme will raise the profile of sports for the disabled community in Singapore.

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. Initially focused on British companies investing in Singapore, the Awards were opened in 2012 to all companies registered in Singapore, with submissions focused on excellence in business in Singapore. As well as significantly increasing the number of nominations, we have also seen more Singaporean companies winning awards, taking six of the nine categories last year. For the last 60 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 more companies to participate

in the 16th Annual Business Awards, which has grown to become a not-to-bemissed event.

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Event Highlights

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Event Highlights

Special Feature: 15th Annual Business Awards

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Business Services News

Business Services Update By U.K. Tina

s of Sep 2014, BCCS Business Services Team has assisted 255 British companies. To date, we have been focusing on the areas of Financial Services, ICT, Electronics, Manufacturing and Fast Moving Consumer Goods. The Business Services Team has been actively attending events to keep up to date with the latest technologies, services and products that would be beneficial to companies doing business in Singapore. In August, as part of the annual Intellectual

Property (IP) week in Singapore, the UK Intellectual Property Office (UKIPO), together with the Intellectual Property Office of Singapore (IPOS), jointly hosted the UKSingapore Business IP Drinks and Discussion on the theme ‘Intellectual Property: Is It Worthwhile or Worthless?’ At the event, which was managed by the Business Services Team, major IP issues such as online piracy and fraud were discussed, along with possible solutions and options available to companies. Major topics covered were Protecting IP Overseas, Innovation Trends, Resolving IP Disputes, World Intellectual

Property Office’s (WIPO) Partnership with ASEAN and Singapore’s role in IP. This month, the team attended a Bonsey Design Seminar in collaboration with GDR Creative Intelligence called ‘The Future of Selling Consumer Brands.’ In this seminar, we were taken through pioneering trends in international consumer engagement. The shift involves the integration of online and offline elements to keep consumers on their toes and generate talk among consumers. In addition to this, Business Services has

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recently launched two new series on the Knowledge Bank, one focusing on sector trends and another on general business issues. Should you be interested to find out more about the abovementioned seminars and our new series, you may refer to the full write-ups in our Knowledge Bank on our website.

Deputy High Commissioner and Director of UK Trade & Investment speaking at the IP event

From 2â&#x20AC;&#x201C;3 Sep, BCCS hosted the annual BiSEA (Britain in Southeast Asia) Conference, which aimed to assess, review and develop the networksâ&#x20AC;&#x2122; strength. On 2 Sep, member companies had the opportunity to meet and speak to Executive Directors from the BiSEA Network to understand opportunities and support provided in the other Southeast Asian countries. The BiSEA network comprises a network of nine British Chambers, from Singapore, the Philippines, Indonesia, Thailand, Vietnam, Malaysia, Cambodia, Myanmar and Brunei. This network aims to support UK businesses venturing into different parts of Southeast Asia, which will become increasingly significant as the ASEAN Economic Community 2015 draws closer. To find out more about the strength of this network, please refer to our website or contact us directly.

Executive Directors of BISEA Network discuss issues and exchange ideas

Beyond the BiSEA Network, BCCS is part of a larger chamber network in the UK, allowing us to support companies from all regions in the UK in exploring export opportunities in Singapore. We have been working with major retailers and distributors in Singapore to source for UK products for their companies, and have been successfully matching products to companies. Should you be seeking technologies, services or products from the UK to complement your business, BCCS Business Services is able to assist you. Please send your enquiries via e-mail to Tina@Britcham.org.sg.

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Britain in South East Asia News

BiSEA News The British Chamber of Commerce in Cambodia (BritCham) welcomes its new Executive Director, Olivia Widén. Olivia can be contacted directly at executivedirector@ britchamcambodia.org. BritCham Cambodia is also excited to announce its new partnership with UK Trade and Investment (UKTI) and the British Embassy in Cambodia. Along with the BCCS and other British Chambers in the ASEAN countries, the Chamber now forms part of the ‘Overseas Business Network Initiative,’ providing advice and assistance in partnership with UKTI to UK companies doing and seeking to do business in the region. Finally, we look forward to welcoming Lord Puttnam once again to Cambodia in October as official Trade Envoy to Cambodia. Please visit our website— www.britchamcambodia.org—for further details.

On behalf of BritCham Indonesia, may I extend our thanks to the Executive Office in Singapore for their excellent organisation of last month’s successful annual BiSEA conference. BritCham Indonesia has recently been awarded part-accreditation for Governance and Resources from the BCC Accreditation board. We are now preparing for the final part the Services Assessment, which will take place onsite from 12–13 Jan next year. BritCham Singapore, which was the first to receive full accreditation in April this year, has been very supportive, sharing good practice with BritCham Indonesia ahead of our preparations for the assessment. We are looking forward to the next couple of years when all BiSEA Chambers/Business Groups will have achieved full BCC accreditation. These accreditations should give members and UK SMEs confidence and trust in the knowledge that there is absolute consistency in both the range of services offered and the quality of service delivery.

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The British Malaysian Chamber of Commerce (BMCC) plays a strong role within the business community in Malaysia. Dynamic growth coupled with the Chamber’s more business and commercial direction has led to our membership peaking at an all-time high of 370 corporate organisations that reaches out to more than 200,000 employees. Over 700 distinguished guests attended the flamboyant Gala Dinner in Mar 2014 to celebrate BMCC’s 50th Anniversary. This landmark event signified how far the Chamber has grown and developed since it was established in 1963. This year has also seen the BMCC conduct the first ever delegation tour: the delegates travelled to Johor Baru to seek potential business investment opportunities in the Iskandar development region. Furthermore, the Chamber’s most recent top-draw event was titled ‘BMCC INSPIRE!’ Joining forces with Y B Khairy Jamaluddin, the event aimed to reach out to the Malaysian youth of today, underlining the importance of maintaining a healthy lifestyle, work-life balance and financial independence. BMCC INSPIRE! was opened by the Minister, who spoke of the importance of promoting health in the country in order to progress and become more sustainable, plus the importance of money management for a strategic future investment.

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Britain in South East Asia News

BiSEA Conference 4 Sep 2014: Singapore By Jennifer Hainsworth

n 4 Sep, BiSEA held its bi-annual conference in Singapore.

Each Chamber provided an update of their core business. As Chambers are at different stages of development, this session gave experienced chambers such as Thailand and Indonesia the opportunity to share best practices and advice with newly established chambers such as Myanmar. However, there were some common themes that affected all chambers, such as how to attract and retain new members, how to manage the Overseas Business Network initiative, and how to ensure consistent delivery of quality events. Session two explored the relationship between the respective EuroChams and BritChams. Although there are different operational models in each market, there seemed to be a preference for EuroCham to be a Chamber of Chambers. Most of the BiSEA chambers had some participation in their EuroCham board; overall, the

chambers spoke positively about the ways EuroCham and BritCham support one another in different markets. EuroChamâ&#x20AC;&#x2122;s main strength across all chambers was advocacy, particularly the work it does to support issues that cross borders, such as IP, transhipment and migration. BiSEA also explored its relationship with other key stakeholders, including the UKABC. BiSEA acknowledged the progress that has been made since the establishment of the OBNI, but also looked at ways to improve the ways that we work. Overall, there was a desire to be less reactive and more systematic in the way we work with organisations in the UK. Finally, BiSEA explored the implementation of the OBNI initiative and current challenges. A series of ideas and suggestions were generated, which will be fed back to UKTI and the BCC. It was also a useful session to share best practices among BiSEA colleagues.

Attendees: Lyndsay Rajah, Chairperson (Britain Brunei Business Forum) Olivia Widen, Executive Director (British Chamber of Commerce, Cambodia) Chris Wren, Executive Director (British Chamber of Commerce, Indonesia) Karen Butterfield, Project Director (British Chamber of Commerce, Indonesia) Nik Tasha, Executive Director (British Malaysian Chamber of Commerce) Chris Boughton, General Manager (British Chamber of Commerce, Philippines) Greg Watkins, Executive Director (British Chamber of Commerce, Thailand) Wai Kit Ho, Business Director (British Business Group, Vietnam) Stephanie Ashmore, Executive Director (British Chamber of Commerce, Myanmar) Brigitte Holtschneider, Executive Director (British Chamber of Commerce, Singapore) Jennifer Hainsworth, Business Services Manager (British Chamber of Commerce, Singapore)

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At the Chamber: Business Group News

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Energy & Utilities Group Chairperson: Damian Adams —Simmons & Simmons

uring 2014, a great deal of focus was given to the growth and development of the LNG industry. This was because of its increasing importance as a cost-effective alternative to coal, which governments and companies alike are finding increasingly difficult to defend as a fuel source, cheap though it may be. It is also because of the US shale gas revolution, which catapulted that country into a position as a producer of low-cost gas and its knock-on effect for accelerating the LNG industry’s evolution, particularly in the wake of the Fukushima nuclear disaster, which caused Japan to become a significant importer of LNG. Another reason is because 2014 marks the 50th anniversary of the delivery of

Jerome Ferrier speaks at the LNG 50 event

the first commercial cargo of LNG from the CAMEL plant in Arzew, Algeria, to Canvey Island in the UK. The BritCham E&U Group celebrated this historic milestone in style in September with a first-class evening reception at Eden Hall, the British High Commissioner’s residence in Singapore. The event was attended by Deputy High Commissioner Judith Slater, President of the International Gas Union Jerome Ferrier, senior representatives from sponsors Shell, BG Group and ExxonMobil, and a host of key industry figures from Singapore and overseas. The culmination of many months of planning and hard work on the part of both the Chamber staff and members of the E&U Group, the event featured the bell from the

Methane Progress, one of the first two commercial LNG carriers. It was specially flown into Singapore from BG Group’s offices in Houston. Hot on the heels of the LNG 50th, the Leaders in Business Lunch saw another LNG-focused event in the same week when Neil Gilmour, Shell’s VP of Development for Integrated Gas, took to the podium to offer his insights into the New Energy Future. Taking a breather from events in October, the Group plans to hold at least one more event by the end of the year before embarking on what promises to be a full programme for Energy & Utilities in the Chamber’s calendar for 2015.

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At the Chamber: Business Group News

Property & Construction Group Chairperson: Richard Warburton —EC Harris Singapore Pte Ltd

n Sep 2014, Singapore’s Building & Construction Authority launched it’s third Green Building Masterplan at the opening ceremony of Singapore Green Building Week 2014. Developing on from the two previous iterations, this version contained a number of interesting initiatives, including a $50m incentive scheme for SMEs, a new award scheme to recognise developers and building owners who encourage tenants to reduce energy consumption, and the inception of a Green Buildings Innovation Cluster, which will develop, test and showcase green building solutions. This new plan also has a much sharper focus on building owners, facility managers, tenants and occupants rather than the buildings themselves. The document rightly emphasises the

need to improve behaviours, systems and processes as the daily activities of the people who live or work in buildings often has the largest influence on their overall environmental impact.

partner to pool collective vision, drive and expertise? What does the country need from us to ensure that Singapore remains a great place to live and work for future generations?

Since its launch, it has become abundantly clear that the real estate and construction sectors will have a major part to play in building a greener and more resource-efficient Singapore. This was echoed recently by Dr Vivian Balakrishnan, Minister for the Environment and Water Resources, who called on our industry to “collaborate, innovate and export solutions” to help Singapore achieve its green ambitions.

One area where I would like to see greater focus is on promoting whole life asset management at the very outset of new-build programmes. With the life cycle of a building typically spanning decades, it is imperative that they are designed and constructed in a way that considers the full environmental impact.

This raises a number of interesting questions for all of us: What can we as individuals and the firms we work for do differently? Who do we need to

Planning ahead for how the building is likely to be used and considering future energy and water requirements are just some areas that afford opportunities to drive long-term environmental savings, even if it requires higher capital investment at the outset.

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Young British Chamber Chairperson: Zoë Marmot —Head of Communications, Asia Pacific, Cognita

s Sun Tzu said in The Art of War, “The battles are won before the fighting has begun.” The more you know, the more prepared you can be, whether that is for short-term goals or life long dreams. Therefore, as the art of listening and asking questions is the cornerstone to gaining knowledge, listening also leads to power and success. Recently, the Young British Chamber was fortunate enough to have Sir Vernon Ellis as a mentor in our Mentoring Series. Listening to Sir Vernon explain his personal path to success with its ups and downs provided us with invaluable insight. But how can one become a good listener? Listening can be divided into three different categories: combative, passive and active. Combative listening is listening for mistakes

or things that can be used against the other party. It is listening for a pause or silence so you can jump in with your ideas. The problem with combative listening is that you are paying attention to your own agenda, not in fact listening at all and therefore missing out on potentially useful information. Passive listening is when you only pay attention to what is being said, not how it is said, so you miss out on the subtle cues contained within voice and body language. Active listening takes in everything the speaker is saying and doing while trying to assimilate and digest the information being shared. To be a good active listener, one must first stop talking. Find something you like about the person and try to think about the topic from that person’s perspective.

One of the best listeners of our time was Nelson Mandela. Unlike many great leaders, it is difficult to think of a sound bite Mandela produced. However, we all can remember Nelson Mandela in a Springbok jersey handing the Rugby World Cup trophy to the captain of South Africa’s rugby team, Although the Springboks represented all that he had fought against for 27 years, he managed to bring peace by listening and asking questions and, ultimately, acquiring knowledge and an understanding of the hopes, dreams and desires in others. Please like us on Facebook and we look forward to seeing you at future events.

Article by: Katherine Baker Simitri Group International

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At the Chamber: Sterling News London School of Business & Finance has partnered London Academy of Trading, a leading UK-based training institution, to deliver financial trading education in Asia. The partnership will bring accredited financial programmes that allow participants to gain hands-on experience, exposure and credentials in banking, finance and trading. Both institutions are working closely together to ensure that the modules are fully integrated into the selected programmes. These programmes expect to receive participants of the highest calibre from around the globe in first quarter of 2015, preparing potential traders for future success in global financial markets. This partnership will also see another quantum leap in the LSBF portfolio of high-quality programmes in Singapore. LSBF in Singapore is currently developing an online learning platform for executives. Expected to launch in the fourth quarter of 2014, the online platform will benefit busy working executives who wish to continue learning about their specialty.

As the third anniversary of the opening of its Asia office approaches, law firm Taylor Vinters celebrates the growth of the team with another appointment: associate Aemelia Grounds. Head of Asia Henry Goodwin said, “We are delighted that Aemelia is joining us in Singapore at an exciting time of growth for our Asia team, as we experience strong demand from a wide variety of innovative businesses in the region. Aemelia brings with her a wealth of practical commercial experience from both the in-house and private practice environments, which is well suited to our client relationships.” Aemelia, who joins the team from an in-house role at Reckitt Benckiser, has significant TMT experience, and will focus on media, entertainment and communications industries across APAC.

AngloINFO’s 14th birthday was something to celebrate. Our 15th year is set to be even more exciting under the leadership of new CEO Iain Aitken. “AngloINFO has achieved an awful lot in the last few years, but our next phase is all about scaling the business up and, to do that, we will be investing heavily in our technology,” says Iain. The world’s premier information website for expats, AngloINFO started from a French kitchen table. Today it is an international franchise on all continents. AngloINFO Singapore, located in one of the world’s biggest expat hubs, provides essential information to 200,000 expats every month. Tremendous changes in how the Internet is used means that continued success depends on adaptation. Iain adds, “If you don’t launch new revenue streams, constantly improve your user experience and embrace new ideas, then your competitors will. You still do things properly, but you do them quickly.”

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Singapore is the most attractive market in the world for investment in infrastructure, according to Arcadis, the leading global natural and built asset design and consultancy firm, the holding company of EC Harris. The findings come from the second Arcadis Global Infrastructure Investment Index .Richard Warburton, Head of Infrastructure, Asia, Arcadis, said, “Infrastructure is the backbone of a country and a catalyst for its long-term economic development. With Singapore’s population predicted to grow from 5.5 million to 7 million people by 2030, investment in new infrastructure will be imperative. Singapore’s integrated strategic plan linking infrastructure planning with business and social requirements helped retain its top position in Arcadis’ index as the most attractive global market for infrastructure investment. Richard Warburton concluded, “Countries that have created the right political environment for sustained long-term economic growth and have attractively structured infrastructure schemes will stay ahead of the competition to attract international investors.”

After 80 years of flying to Singapore, British Airways has committed one of its flagship Airbus A380s to service the London-to-Singapore route. Singapore becomes the latest destination in British Airways’ global network to be served by the superjumbo, which will fly three-times a week from London, starting 28 Oct 2014. The new A380, which is part of British Airways’ £5 billion investment in new products, allows customers in Singapore to enjoy the airline’s latest offering. The double-decked aircraft offers customers one of the quietest cabins in the sky, with extra storage space, cleaner air, mood lighting, improved in-flight entertainment and more power sockets for personal electronic equipment. In addition, customers travelling to London will continue to take advantage of all flights arriving at Terminal 5, the airline’s state-of-the-art, award-winning home at London Heathrow. Terminal 5 serves as the gateway to British Airways’ extensive European and North American route networks.

The digital world is getting bigger and, increasingly, businesses are working in a highly complex and inter-dependent ecosystem. As a result, companies are completely dependent on digital business processes, opening them up to cyber-attacks from every area. PwC’s Global State of Information Security Survey 2014 shows that few organisations have kept pace with today’s escalating risks, and even fewer are prepared to manage future cyber-threats. PwC’s Singapore Risk Assurance Practice provides its clients with the confidence to set the right priorities in building their cyber-risk capabilities, and helps them create a plan to achieve their cyber-risk strategy and objectives. Vincent Loy, PwC UK’s former Financial Services Technology Risk Leader, was recently appointed to head the Financial Crime and Cyber Practice in Singapore. With more than 18 years’ experience in the FS sector, Vincent has advised the Boards and Management of many complex global FS clients. The areas that he covers include business and IT operations risk, resilience and governance in response to business, regulatory and organisational challenges, including cyber.

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At the Chamber: Sterling News Barclays recently launched Singaporeâ&#x20AC;&#x2122;s first Investment Banking Apprenticeship Program, which targets young people graduating from polytechnics. The catalyst for the programme was the meeting in Singapore in Jul 2013 between Barclays CEO Antony Jenkins and Deputy Prime Minister Mr Tharman Shanmugaratnam, during which they discussed the importance of strengthening the local talent pipeline of financial professionals and leaders. Following a robust selection process, the bank has recruited its first cohort of 11 apprentices, primarily based on attitude towards learning and career potential. They will be employed full time in entry level positions within the bank, in business units including operations, human resources, finance and sourcing. It is the first time an investment bank in Singapore has recruited apprentices at diploma level from local polytechnics. The Program is running concurrently to Barclaysâ&#x20AC;&#x2122; graduate recruitment work with Singaporeâ&#x20AC;&#x2122;s leading universities.

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At the Chamber: Corporate News

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Imerys, advised by Pickering Pacific, has acquired 100% of Kinta Powdertec Sdn Bhd. Pickering Pacific is pleased to announce that it acted as exclusive financial advisor to Imerys, the world leader in mineral-based specialty solutions for industry headquartered in France, on its successful acquisition of 100% of Kinta Powdertec Sdn Bhd on 2 Jul 2014. This acquisition reinforces Imerys’ strong presence in Malaysia and bolsters its ground calcium carbonate activity in Asia. For further information, please contact Jacques Pickering or Erwan Meurzec at Pickering Pacific (+65 6225 9128; info@pickeringpacific.com).

Page Personnel is excited to announce the launch of its Customer Service discipline in Singapore. Page Personnel Customer Service will exclusively focus on all experience levels within the customer service function, which largely includes pre- and post-sales functions. Page Personnel Customer Service supports the Singapore market with its partnership approach to recruiting, an in-depth understanding of clients’ businesses and specialised solutions. To find out more, please contact Anchit Malhotra (+65 6416 9821; anchitmalhotra@pagepersonnel.com.sg).

British expats potentially face another tax raid on their income with the UK Government unveiling plans to scrap personal allowances for non-residents. Chancellor George Osborne is pushing ahead with the measure to force British expats to pay tax on all their UK income. Currently, non-resident Brits are entitled to offset income earned in the UK against the £10,000 personal allowance that most taxpayers enjoy. Those with property in the UK and rent them out while living abroad are in the firing line. This signals the Government’s strong intention to go through with its plans, which it says will bring it in line with the US, Canada and the majority of the European Union.

Mayer Brown, a leading global law firm, announced the establishment of Mayer Brown Consulting to advise clients on a wide range of Asia-focused international trade matters, including WTO issues, international trade policies, customs, export controls and anti-dumping investigations. The new consulting unit will be staffed by five highly experienced customs and international trade advisors based in Asia, headed by Chief Executive Officer Cecil Leong in Singapore. Other members include Greater China Managing Director Flora Sun, Senior Director Anthony Kerr, Director Wong Chian Voen and Senior Advisor Zhao Jun. For more information, please visit http://www.mayerbrown.com/Singapore_MayerBrownConsulting/

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At the Chamber: Corporate News Luxury entrepreneur Stephen Hung has purchased the largest Rolls-Royce Phantom fleet in the world, placing an order for 30 Bespoke Extended Wheelbase Phantoms for his Louis XIII hotel in Macau. This transaction represents the world’s single largest order of Rolls-Royces ever. Two of the cars in the fleet will be the most expensive Rolls-Royce Phantoms ever commissioned. The deal was formalised on 16 Sep 2014 at a signing ceremony at the Home of Rolls Royce at Goodwood in West Sussex, England. The ceremony was attended by Rolls-Royce CEO Torsten Mueller-Oetvoes, Louis XIII Chairman Stephen Hung, the Board of Rolls-Royce Motor Cars, Louis XIII executives and a representative from Graff Diamonds.

A Unique Career Development Tool to Help ‘Employee Retention’ Ray Bigger, Managing Director of Think8, has announced the launch of a career development tool called Fuel50. “The subject of acquisition and, more so, retention isn’t going anytime soon,” said Ray. “This tool combines into one simple and straightforward application a suite of questionnaires/surveys that cover career values, preferences, agility, talents, pathways and motivators. It provides managers/leaders with valuable insight on every employee’s career aspirations.” A Randstadt research report suggested that 86% of employees leave because of a lack of career development. Ray added, “To say this tool is timely would be an understatement.”

eVantage Technology is pleased to announce that it has won further mandates for contract IT services within the offshore marine sector. Both Chellsea Pte Ltd and Marine Contracting Pte Ltd will be in good company, joining a list of more than a dozen other companies in the marine sector that have chosen to partner eVantage Technology to manage their IT needs across the region. Andreas Klimsa, Sales Director at eVantage Technology, comments, “We are delighted to welcome two more companies from the marine sector to the eVantage Technology family, further strengthening our position as the leading IT service provider to this industry. I look forward to working with the team to provide the high-quality IT services we have become known for.”

The designphase dba scheme for Capital Square speaks the language of business. The design thinking that generated the creative concept for Capital Square precipitated from the term ‘connectivity.’ ‘The Lantern’ at Capital Square’s front entrance depicts this idea as a motif in a luminous and three-dimensional way. The pieces of the entire assembly are similar, but have different orientation. While they are each obviously a part of a congregation, they don’t necessarily have to be tied to each other; just like a community, the community of tenants within Capital Square, and Capital Square as a part of Singapore’s CBD community.

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At the Chamber: Corporate News MSIG Insurance will unveil a series of consumer education videos, integral to its brand campaign in Singapore, from 2 Oct 2014. These videos will feature a five-yearold boy explaining the myths and facts of home and travel insurances. The creative approach of this educational campaign drives home the point in a fun way that insurance can be made easy to understand. As consumers learn more about general insurance, they can make more informed and confident decisions when it comes to protecting themselves, their family or their assets. To reach out to a wider audience, MSIG will run the campaign on print, digital and at the Raffles MRT station. The company will also use YouTube as the main social media channel to promote these videos.

We are a leading name in the commercial interior design industry in the Asia Pacific region, delivering full-suite interior design solutions to global giants. Among the many things that sets us apart is our commitment to offering best-in-class service at all levels. To this end we have attained ISO 22301:2012 BCM accreditations, ensuring best practices for all projects and continuity of work in the case of worst-case-scenario situations. As the only local ID firm with this BCM accreditation, we are able to meet the stringent security needs of global brands that insist on the highest standards at all times.

Niche consulting firm Knight Griffin Ltd has formed the Business Evaluation Centre (BEC) in Singapore to help clients put a dollar value on projects and programmes. The BEC works with clients in industries ranging from banking to oil and gas, and for functions such as HR, IT, marketing, learning and development. The BEC recently completed a study for a prestigious business school in Singapore, revealing the increase in income and intangible benefits of their EMBA programme.

The school will be able to use the results of this report to make informed management decisions about their marketing and sales efforts to prospective students.

Marking 16 years as a global leader in serviced apartments and hotel residences, Frasers Hospitality Pte Ltd has announced plans to double its global inventory to 30,000 residence units over the next five years. It currently has 92 properties in 49 key gateway cities and more than 16,000 apartments worldwide, with recent new openings in Kuala Lumpur, Jakarta, Wuxi and Wuhan. Internationally recognised for service excellence, the group received 35 awards this year including: Europe’s Leading Serviced Apartment Brand, England’s Leading Serviced Apartment Brand, Hungary’s Leading Serviced Apartment Brand and Middle East’s Leading Serviced Apartment Brand by World Travel Awards. www.frasershospitality.com

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Survival Chic (SC), Singapore’s first premier lifestyle membership, is happy to announce the one-year anniversary of the SC Corporate Program. SC was created for busy executives and expats looking to maximise their business and personal entertainment time. SC Members get 30% off (including alcohol and guests) at 50 Top Restaurants, as well as daily Complimentary & VIP Invites to the city’s top private events. SC’s Corporate Program saves company cash and valuable employee time, and increases employee engagement and retention. Contact i@survivalchic.com for more information about Corporate or Individual Survival Chic Membership. BritCham Members enjoy 10% off an individual OneYear SC Membership!

Tanglin Trust School hosted the FOBISIA (The Federation of British International Schools in Asia) Student Leadership Conference from 12–13 Sep. Forty Head Boys and Girls from Hong Kong, Taipei, Beijing, Bangkok, Kuala Lumpur, Kinabalu and Vietnam flew in and joined Tanglin for a series of interactive workshops to explore the nature of leadership and to discuss the similarities and differences of what student leadership looks like in the region. Students commented that they had expected the issues and leadership structures to be the same and were surprised by the variety of different issues facing young leaders and the different way that they were elected or represented their student body. Students were then set the task of defining and presenting their vision for their time in office. The passion and maturity that our future leaders brought to the discussions were very impressive, and the atmosphere during the two-day conference was extremely positive.

NAOS International is expanding its footprint in Asia with the opening of a branch in Hong Kong. With this latest step in its development, the executive search firm will bring an even stronger support to its clients in the North Asia region. The firm also has a presence across Europe, the Middle East and Southeast Asia with offices in Paris, Dubai, Riyadh and Singapore. NAOS International’s team is composed of senior consultants who have a proven track record in operational activities, from business development to company management. This DNA gives the firm the ability to fully understand its clients’ environments.

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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 10% discount off show tickets to Leo Sayer Live in Singapore 10% discount off Leo Sayer Charity Gala Tickets at $500 each 10% discount on ISO certification, training services and purchase of standards

15% off British Club lifetime memberships

10% off all public courses

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

10% off Medical Insurance Plan

10% discount on facilities and services 10% off The Accelerated Development Program

5% off electrical & 10% off furniture

15% discount on full service outsourcing of payroll Stay 3 Pay 2 Nights for One - Four-Bedroom Pool Villa

Special Discount for FT ASEAN Economic Summit

Reduction of 10% from Yearly Subscription Package

15% discount at Harryâ&#x20AC;&#x2122;s

20% off strategic meeting facilitation fees in 2014

Building Networks Connecting Business Creating Opportunities

At the Chamber: Special Event

60th Anniversary Networking Evening 28 Aug 2014

On 28 Aug, 120 members and guests gathered at the Treetops Terrace at the British Club, exchanging anecdotes and memories, of the Chamberâ&#x20AC;&#x2122;s 60 year journey. Four Chamber Presidents (past and present) shared their specific moments during their time with the Chamber.

Hugo Walkinshaw

Steve Puckett

Shanker Iyer

Terry Oâ&#x20AC;&#x2122;Connor

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

Building Networks Connecting Business Creating Opportunities

At the Chamber: Special Event

LNG 50 - A Celebration of the First Commercial Shipment of LNG 23 Sep 2014 Commemorating this LNG Golden Jubilee, the BritCham Energy & Utilities Business Group invited all who participate in LNG and related industries to a special evening of celebration and networking on 23 Sep at Eden Hall, the British High Commissionerâ&#x20AC;&#x2122;s residence in Singapore. The event not only looked back at some historic LNG firsts, but also at the present and likely future for an industry that has grown from that initial operation in Algeria to a global business comprising 87 operating liquefaction trains in 18 exporting countries and 105 LNG receiving terminals in 30 importing countries.

Gold Sponsor:

Silver Sponsor:

Bronze Sponsor:

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

F1 Sky-High Networking Event 18 Sep 2014

Title Sponsor:

Geoff McGrath – Vice President, McLaren Applied Technologies

Supporting Sponsor:

Bob Fearnley – Deputy Team Principal, Sahara Force India

On 18 Sep, we welcomed guest speakers Bob Fearnley, Deputy Team Principal of the Sahara Force India, Geoff MacGrath, Vice President of McLaren Applied Technologies and Jennie Gow from BBC Radio 5 as they shared their F1 stories and experiences. The discussion focused on British engineering, ingenuity in Formula One and why Britain is at the heart of the sport. Members and guests had the opportunity to engage with these F1 experts, have their F1 questions answered and connect with members and friends

Venue Partner:

Jennie Gow – BBC Radio 5 Live’s Formula One Reporter

In Partnership with:

Building Networks Connecting Business Creating Opportunities

At the Chamber: Breakfast Clubs

The Emotionally Intelligent Leader – Superhero or Not? 3 Jul 2014 This event explored the importance of emotional and compassionate leadership, and how that approach could yield better business results. Attendees were challenged by the notion that compassionate leadership was something that was nice to have, rather than a prerequisite for sustainable success.

Michael Jenkins – Chief Executive, Roffey Park

The Energy Shift from West to East: Powering Asia 3 Jul 2014 This presentation by Dr Janet Kong helped the audience understand how the world around them is changing and how energy shifts are affecting their region and the markets beyond.

Dr Janet Kong – Head of Market Analysis, Integrated Supply & Trading, BP

The BritCham Breakfast Club is proudly sponsored by:

Building Networks Connecting Business Creating Opportunities

At the Chamber: Women in Business

Women and Men Senior Leaders â&#x20AC;&#x201C; Similarities and Differences 17 Sep 2014

Mark Powell from Praesta gave a presentation based on findings and key trends that emerged from a recent study of 240 senior male and female leaders. Attendees benefited by gaining a better understanding on how to work with and support the development of senior staff, as well as work more effectively with male and female colleagues at a range of levels.

Speaker: Mark Powell â&#x20AC;&#x201C; Senior Coach, Praesta

Women in Business is proudly sponsored by:

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

Building Networks Connecting Business Creating Opportunities

At the Chamber: Young British Chamber

YBC Mentor Series Panel Discussion 3 Jul 2014 The purpose of the YBC Mentor Series is to allow young professionals in Singapore access to successful industry leaders in today’s global world. At this session, attendees listened to two business leaders who shared insights into achieving career success. The discussion was moderated by Hugo Walkinshaw, the President of BritCham.

Ang Shih Huei – CEO, Asia Partner, Bell Pottinger