ScandAsia Singapore - March 2017

MAR 2017

Banking & Financing theme BUSINESS

PEOPLE

COMMUNITY

START-UP

LynxEye branding consultants

Kim Osborg Nielsen, Nordea

Else Vistisen Therapy

Huone Singapore events hotel

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17 MAR 20

Events

SBAS AGM Dinner Where: The Tanglin Club, Raffles Room, 5 Stevens Road When: 22 March, 18.30 SBAS (Swedish Business Association Singapore) invites you to a dinner to meet Messrs Tan Kai Liang and Ramesh Selvaraj, Par tners of Allen & Gledhill. They will cover the following topics during their presentation: Contr act Law – Dos and Don’ts & Employment Law -Updates/Cases Allen & Gledhill is a full-service commercial law firm which provides legal services to a wide range of clients. It is currently one of the largest law firms in Singapore with over 300 lawyers.

Date: Wednesday, 22 March 2017 Venue: (257814) Time: 18.30 Pre-dinner drinks, 19.00 Dinner starts Price: S$90 for SBAS Member, S$100 for Guest

UNITY COMM

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branding LynxEye ts consultan

PEOPLE

sen,

org Niel

Kim Osb Nordea

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Else Visti Therapy

P START-Uapore Sing Huone hotel events

Please register at swedbiz@singnet.com.sg by 15 March.

DABS Annual General Meeting Where: Danish Seamen’s Church, 10 Pender Rd When: Thursday 23 March, 6.30pm DABS is inviting all DABS Members and interested parties to our Annual General Meeting followed by an informal dinner.

On the menu is a Danish dinner favourite: ‘Stegt Flæsk og Persillesovs’ Participation is free of charge but to secure a seat, kindly register before 16th of March by sending an email to dabs@dabs-singapore.com

Your FREE ScandAsia Magazine in Singapore ScandAsia is the only magazine that covers all the Danish, Finnish, Norwegian and Swedish residents in Singapore.

Get your own FREE copy: scandasia.com

NBAS AGM and Breakfast Talk Where: The Fullerton Hotel, Ballroom 3, Lower Lobby, One Fullerton Square When: Friday 31 March 2017, 08:30 AM – 10:00 AM Noregian Business Association Singapore is pleased to invite you to the NBAS Annual General Meeting 2017, followed by a Breakfast Talk by the successful Norwegian entrepreneur Mr. Magnus Grimeland, Group Chief Operating Officer of Global Fashion Group and CoFounder of ZALORA. Digitalization is a disruptive factor that all companies need to be aware of in order to succeed and stay competitive in a fast moving market. Mr. Grimeland will talk about Digitalization in South East Asia - a highly relevant and important topic across industries.

Sign up for this talk to listen to Mr. Grimelands

theme ancing g & Fin Bankin

fascinating and informative story about building ZALORA into South East Asia’s (SEA) largest fashion e-commerce company. He will also share with us the key pillars of building a successful digital business in SEA. In this context, he will share his reflections on the fast growing SEA economy and where the oppor tunities and challenges will be.

As Co-Founder and Regional Managing Director of ZALORA, Mr. Grimeland was responsible for building and overall coordination of the ZALORA Group in SEA. After the ZALORA acquisition by Global Fashion Group (GFG), Mr. Grimeland is now the Chief Operating Officer (COO) of GFG and responsible for Group activities across all core markets in 27 countries in Asia, the Americas, Eastern Europe, the Middle East and Oceania.

The programme will be as follows: 08:30 Registration starts 08:40 AGM 09:00 Guest speaker Mr. Magnus Grimeland, Group Chief Operating Officer of Global Fashion Group Fee: NBAS Members: SGD 40 / Non-members: SGD 60 Registration: nbas.org.sg

Publisher : ScandAsia Publishing PTE., LTD. 37A Hongkong Street Singapore 059676 Singapore Editor-in-Chief : Gregers A.W. Møller gregers@scandmedia.com Tel: +66 2 943 7166-8 ext. 115 Managing Editor: Joakim Persson Joakim@scandmedia.com Tel: +66 2 943 7166-8 ext. 111 Advertising : Frank Leong frank@scandasia.com Tel: +65 9866 5165 Finn Balslev finn@scandmedia.com Tel: +66 2 943 7166-8 ext. 116 Graphic Designer : Peerapol Meesuwan Peerapol@scandmedia.com Distribution : Wanvisa Rattanaburi wanvisa@scandmedia.com Printing : Inthanon Interprint Co., Ltd.

March 2017

ScandAsia Stories

Mrs. Else Vistisen

10 Finland at Ageing Asia Innovation Forum 11 Swedish Health Ministry’s Singapore visit 11 Finnish Millennium Technology Prize

6

The occupational therapist paying attention to pain

12

Banking & Financing Theme

10

ScandAsia Business

9 Huone Singapore Innovative Finnish events hotel concept launches

14

Mr. Kim Osborg Nielsen

Nordea Singapore, a Nordic bank in the East

10 Active Aging / Pressalit New showroom with Danish solutions inaugurated

11

19 Inter Airport tradeshow Power Stow and other Scandinavian solutions target Asia’s airport sector

Mr. Christian Ihre

20

11

Swedish branding consultants LynxEye in a digital world.

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4 ScandAsia.Singapore • March 2017

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Community

Paying holistic attention to

S

By Joakim Persson uffering from any chronic pain? Being aware of too high workload, with stress-related pain as a result, but not really doing anything about it?

And what about the all too common problem with back pain (and that can seem so elusive)? You have perhaps tried, unsuccessfully, to cure your particular condition?

This is the moment to pay attention because there is remedy and someone that can guide you on a path to ‘enjoying a pain-free and fulfilled life’.

Exactly this is the motto for renowned therapist Else Vistisen (from Denmark), who actively helps

people in Asia since 1984, and these days in Singapore where she resides.

Residents there are privileged to be able to benefit from Else’s treatments and her unique therapy method, which is a combination of many modalities, methods and all other experiences she has gained throughout the years, hence deserves ‘unique’ description...

Also, not many therapists are the one that can actually help where many others, be it doctors or therapists, have failed. But Else seems to be the answer, looking at her ‘track record’.

Definition of pain

Based on the foundation she had built up over the years Else rebranded herself in 2015 into Else Vistisen Therapy, which revolves around a 3-step method that is “effective, intuitive and empathic”.

“I have become so intuitive that I have created my own therapy,” says Else, as we meet up at her suburban home clinic.

Pain caused from a hectic work schedule, strenuous fitness training or recurring pain that is unresolved should not be neglected, she states.

Her book ‘Pain Free’ brings up numerous cases of people with pain and their ‘healing journeys’ with Else, who is a certified occupational therapist (OT).

“When people see the book they think: arthritis, headache, knee pain… It’s not only that.

Physical pain, mental pain… you can also feel social pain.

Everything connecting to where you feel you’re not good enough, not performing enough, or being a bit on the outside of society, can be felt as a pain in your body. And that’s where I know that I am capable; I can alleviate pain one small touch at a time.”

“I specialise in providing long-lasting pain relief and have successfully treated thousands of people from all over the world, transforming their health, lives and success.”

Occupational therapist

Her training as an OT, and an Emmett and Bowen Therapist, has given her a unique ability to provide an innovative practice. As an OT she is regulated

by Singapore’s Ministry of Health.

Else has studied thousands of hours of neurology and anatomy. And while Else lived in many places, primarily in the Asia-Pacific, she learned about anything from qigong and acupuncture to the Bowen and Emmett therapies.

And herein lies what is so fascinating, and really grabs one’s curiosity about her treatments: seemingly effortless, the light touch of a finger or just gentle pressure using the thumbs and fingers are being used; the latter being the “Bowen moves” over muscles, tendons, nerves and fascia (a technique is described as a system of subtle and precise mobilizations). This she studied in Australia and has a diploma in.

There she also met Ross Emmett, who founded his own therapy. Here is how she describes it: “It’s based on a light touch at specific points of the body. And it’s usually a ner ve receptor; like a light switch. So just by touching that spot, you can reactivate or desensitise the nerve. So it’s like working on a computer, using the nerve receptors as a keyboard. And then it sends messages into the hard disk, the brain, which then starts to figure out: O.K, this muscle here needs to release. This one here needs to tighten up the ship… So, very fast, within 15 minutes you can, just by the fingers, help to realign a client just by knowing exactly where the nerve receptors are.”

Else describes OT as being unknown and 6 ScandAsia.Singapore • March 2017

pain – Else Vistisen Therapy I specialise in providing long-lasting pain relief and have successfully treated thousands of people from all over the world, transforming their health, lives and success.

that it is very similar to being to a physiotherapist.

The difference between the two comes with the rehab of the client. Examples of definitions are as follows: An OT works with a client to help them achieve a fulfilled and satisfied state in life through the use of “purposeful activity or interventions designed to achieve functional outcomes which promote health, prevent injury or disability and which develop , improve, sustain or restore the highest possible level of independence.

Definition of physiotherapist: A person qualified to treat disease, injury or deformity by physical methods such as massage, heat treatment and exercise.

“Sometimes I have known that I am not enough and there must be also a physiotherapist involved who can mobilise.”

Pain relief for high achievers

“I believe I have my speciality. I do not sell packages.

If you come to me with a problem and there is no change after 1-2 times I would never ask you to come back. I then help to find somebody who can help you.”

“I have just studied so many other therapies, and I use them as I wish. I’m not just a therapist working with pain – I work with far more than that. I believe there is more to a treatment than just the applied therapy; it is about how you listen to the client; being intuitive and seeing what do they really need. But I specialise in acute and chronic pain relief for busy high achievers.”

“I am not exaggerating if I say that from one to three treatments 87 per cent of my clients are pain free. I have made statistics.”

Her problem is that when people turn to her with their pain they come with very high expectations and a recommendation from their doctor or friend that: “Elsa will fix it.”

“Quite often people have already seen other therapists or doctors before they see me – and have spent hours and hours and lots of money, with very little improvement. So when they come to me they expect it to be fixed in one go. It is my biggest nightmare when people come here expecting miracles. And it’s a huge pressure on me, because I also want to deliver.

But, I have good mentors too.They say:‘When you have 87 per cent treatment success you March 2017 • ScandAsia.Singapore 7

Community people whose advices I myself sometimes seek often tell me what to do. I would never do that.

The clients I have are very personal with me.

They have already seen the other ones and they know my philosophy. But they also know me to be very respectful and acceptant of whom they are.”

And there is no scepticism to overcome as those getting in touch have already heard about Else.

Using a three-step method she first does a full body assessment, which is followed by therapy during which she also differs in that she then continues here evaluation. Once she knows which muscle is tense she manipulates.

The sitting problem

I believe I have my speciality. I do not sell packages. If you come to me with a problem and there is no change after 1-2 times I would never ask you to come back. I then help to find somebody who can help you.

are doing very well’. And there will always be some people that maybe will benefit more from acupuncture or a chiropractor, and I am the first one to send them.”

How can I help you?

She also highlights another differentiation: “If my client needs me two hours I give them two hours. And they still only pay for one treatment.

For me it’s about the outcome; not about how 8 ScandAsia.Singapore • March 2017

long time am I spending helping you. So I work very different from other people. I’m not saying I’m better but I cannot live in a system where I’m not allowed to be spontaneous. I aim to give the clients the optimal treatment according to their needs.”

Else sits down and gives the client a handshake and asks: ‘How would you like me to help you?’

“I am completely different with that. Those

In meeting all the people whom she treats Else confirms that all the sitting has become a hug problem.

“I just know that a lot of people have pain, more than before, I think. People have become so busy. First of all: they are sitting way too much, and are in front of computers and their phones way too much. Just by sitting you start slouching so we are getting more and more back problems. And we start to have neck problems etc. - so it’s increasingly becoming a problem for many.”

Some clients cannot even switch off their phone during the treatment, relates Else.

“We are so stressed – we’re never off! You can be reached 24 hours a day. And you may ask: what does that have to do with back problems etc.? Answer: A lot, because if you start to have a weak point in your body, if you don’t give that weak point a holiday – which is a physical and mental rest to reenergise and reconstitute – it’s just running off track.”

“Live a happy, well-balanced life and a lot of your worries will disappear,” is Else’s general recommendation.

“But we live in a world today where people are becoming more and more fanatic about diet, work (to be good in everything and effective), good looks, fitness… you name it!”

“I have three very high-achieving kids. I have to remind them repeatedly: ‘Listen, it’s time to step back and relax!’These are today’s youth and I am seeing a lot of them as clients!”

“The lifestyle we have today is often one of the biggest problems behind a lot of pain. And often I try to take time off myself and think. I also have pain sometimes – everybody have. I’m a social person but I’m also a very private person and I don’t function if I don’t have also my alone time close to nature.”

“People nowadays so much forget there’s more to life than just being seen and found. I get so stressed when I hear about people wanting that. Who cares! Nothing’s perfect; just try to achieve a joyful and pain-free life, where you run your own agenda but not others’.”

“I do try to explain to my clients that they need to take some time off. I have cer tain philosophies and I have always led a very simple life, that is: you have to learn to make choices that benefit you. It’s a very simple sentence. It’s the same as: take responsibility.”

“I just want people to return to their best.

That is my promise and my purpose.”

Business

Finnish innovative events

concept arrives to Singapore

O

By Joakim Persson n 23 February Finnish-owned Huone Singapore was inaugurated. This international expansion is based on Huone Events Hotel from Helsinki - an events and meetings concept, basically resembling a hotel without bedrooms. The new Huone is branded as Singapore’s most creative meeting space, here with the bold aim to disrupt the local events industry.

Behind this exceptional concept there is also a remarkable story centering on the young Malaysian female dancer, Evon Söderlund, who, after a tough childhood, ended up empty-handed by coincidence in Finland in 2005 and found her husband and got educated there. Moreover, this couple dared to do what most people wouldn’t; namely risking everything, including even their own house, for a business idea they believed in so much.

And here they now are , opening in Singapore as the next step, having proved their concept in Finland after four years of operation, during which they had to undergo the ultimate challenge of double bankruptcies before getting back on their feet.

For the CEO Evon, once the idea has really matured, it was matter of throwing herself into the unknown, or risk having regrets.

“What if I, when I turn 70 one day, and think about what I have done in my life. What if I had not taken all the risk to set up Houne.That is why I decided that, since live only once it might as well be a roller coaster ride.”

“Now our traction in Helsinki is four years and we were thinking that coming to Singapore would be a very good thing because a concept like ours, if you make it work already and the concept is proven, where would you take it in terms of the

biggest market? It’s actually Singapore, because this is actually the biggest international meetings market in the world, for six years in a row. So MICE is a big thing here; the demand is here and the culture is here. Everyone throw events all the time,” Evon explains why Singapore became their next step.

It is also a place where the concept can better evolve further.

“Now when we are still motivated and still want to learn so much without stopping then we might as well take on the challenging market; one that has the biggest demand. So we chose Singapore. It’s not because of my Asian roots at all, in fact I feel like this is a totally different country because I don’t know anyone here.”

In Singapore Evon expects that Huone can learn with and see with an East meets West combination how they will take this concept. I think there is so much there to even improve or develop so this is not just an expansion for us, it is also a development phase for us to find out: Can we be skilled? Can this grow to ten other cities?”

What triggered the ideas was that Evon Söderlund and her husband Jussi had thought of bringing the concept of Karaoke to Finland.

The pondered the idea and brainstormed while having sauna sessions in Finland.

“I went to study hospitality management had this idea in the back of my mind all the time. I was thinking of the angle and I realized that the Finns love to sing karaoke but won’t do it unless they are drunk. So the whole idea transformed into the events hotel, focusing on creativity, meeting space and hosting companies and doing company meetings, where our aim is to help them achieve more in less time,” explains Evon.

With the arrival to Singapore the CEO states:

”We are innovating meeting design and it is our goal to disrupt and shake up events industry as a whole. We are focusing on cosier spaces, providing end-to-end event needs, from event planning, food, stationery to even technology. At Huone, events and meetings are hassle-free so that guests can concentrate on what is important.”

Huone’s Nordic roots is also present within Huone Singapore with three of the meeting rooms reflecting Finland. Also carries top brands from Lapland to give both hosts and attendees the best Finnish experience, with the likes of Fiskars (Iittala), Framery, Kyrö Distillery, and Genelec.

“Because we are from Finland we want a piece of the country and hold on to the Finnish identity when we go out. The Nordic style of servicing is not like the Asian; it is about being a host. They are very well trained. People who are serving in Finland are actually bachelor degree holders. They are knowledgeable. If they present you the wine they know exactly what it is. That knowledgeable serving style of the hosting part of I think is great!”

“In terms of the service style the team is really being pushed very much because they are not used to hosting. But here we want everyone to be knowledgeable. Personally I am not used to someone bowing, I feel: ‘Come on, chill!’”

Huone wants to hold on to the Finnish identity and feature Finland, where Evon thinks Finnish people are too humble to speak out about how great they are!

“I would be more than happy to be an ambassador to bring that forward because I would not be me today without Finland. So I can only say that I am in love with Finland and I am more than happy to be the ambassador to bring the greatness of Finland out there. That’s why we have the Finnish forest room, the cottage room and the igloo room.”

This opens up for a completely new Nordic experience for the MICE needs of companies here with such roots as well.

For Scandinavians living in Singapore, my personal opinion is that they are anti-hierarchy and very innovative-minded. So, for them, they have been dying for a solution like this for a long time, the fact that they can actually loosen their tie and just create something new and come up with new knowledge or have their meeting in a more relaxing environment.”

And the setting is one that could hardly be better: situated in a row of shop houses along Clark Quay, overlooking the CBD, and the very former centre for Singapore’s trade during its British colonial era.

“For Scandinavians to come here and experience Singapore in a different way would be something that inspires, related to the identity of this area and at the same time have the creativity unleashed.”

March 2017 • ScandAsia.Singapore 9

Business

Active Aging and Pressalit open Singapore showroom

T

he official opening of the exclusive Pressalit Care showroom took place in Singapore on 9 January 2017, where the Embassy of Denmark in Singapore congratulated Pressalit and its appointed local partner Active Aging LLP. Active Aging is a 100% Singapore enterprise, dedicated to enabling seniors and the disabled, to ‘keep living’ well, independently and healthily, with grace and dignity.

As the Authorized Distributor for Singapore, Active Aging carries a wide range of Pressalit products, designed and engineered for people with reduced functional capacity; that are used in bathrooms, kitchens and workspaces.

Pressalit, with a history that dates back to 1954, is a leading manufacturer of toilet seats and flexible solutions for kitchens and bathrooms.

Finland at Singapore International Ageing Asia Innovation Forum 2017

F

inlandCare together with Suomi100 Singapore and the Finnish Embassy in Singapore will take part in the Ageing Asia Innovation Forum held in Singapore on 25 – 27 April 2017.

Finland’s centenary year will be celebrated there with a special seminar themed ‘How to live to a hundred years old? - in honour of Finland’s 100 years as an independent country’. In addition to the seminar, a networking event will be held, as well as a separate Finland seminar.

On the list of confirmed Global Ageing Innovation Expert Speakers are: H.E Juha Rehula, Minister of Family Affairs and Social Services, Government of Finland H.E Paula Parviainen, Ambassador, Embassy of Finland in Singapore, Government of Finland The annual Ageing Asia Innovation Forum (AAIF) is an international platform held annually in Singapore that connects CEO level business, government and community leaders to invest and collaborate on business opportunities in Real Estate, Healthcare, Wellness, Finance, Technology and Senior Care. AAIF aims to showcase the world’s most innovative models of care that will 10 ScandAsia.Singapore • March 2017

improve quality of living and happiness of older adults in Asia Pacific, focusing on Healthy Ageing, Independent Ageing and Dignified Ageing.

The latest 7th AAIF in Singapore gathered over 580 C-level delegates across 17 countries to exchange insights and identify the opportunities driven by Asia Pacific’s US$3.3 trillion booming silver economy.

The 2017 theme of ‘Future of Integrated Care: Housing, Health & Communities’ was chosen to reflect the changing needs of ageing baby boomers who desire to age- in-place, with relevant housing, health and communities services that can evolve to suit their changing requirements as they age.

In 2017 Finnish senior care expertise and innovations are showcased in the event organized at Marina Bay Sands Conference Centre.

Sources: FinlandCare, Embassy of Finland in Singapore, Suomi100 Singapore

Business

Singapore introduction of Finnish Millennium Technology Prize

O

n F r i d ay 2 0 J a nu a r y 2017 the international science and technology community was invited to take part in the Millennium Technology Prize Introduction Reception at the Ambassador of Finland, HE Paula Parviainen’s residence. The guest of honor, Dr Juha Ylä-Jääski President and CEO of theTechnology Academy of Finland (TAF), introduced the Millennium Technology Prize.

The MillenniumTechnology Prize is Finland’s tribute to innovations for a better life. The Prize is worth one million euros and it is awarded every second year. The Prize highlights the extensive impacts of science and innovation on society, even on humanity at large.

Gener al pr inciples of the Millennium Technology Prize: - Aw a r d e d t o d i s r u p t i ve technological innovations that enhance the quality of people’s lives in a sustainable manner.

- The innovations have been applied in practice and are delivering extensive change now and in the future.

- The innovations stimulate fur ther cutting edge research and development in science and technology.

The Millennium Technology Prize encourages fur ther cutting-edge research and development and is thus not intended as a reward for lifetime achievement. The Prize also highlights the Finnish practical and solution-focused mindset – one of the greatest strengths of Finland – to the whole world.

Candidates for the Prize are accepted from across the world and all fields of technology excluding militar y technology. In a global world, people’s lives are affected by common problems and solutions. It is therefore also essential that a Finnish prize can be awarded to anywhere in the world. Nominations for the Prize

can be made by science academies, universities, research institutes and industrial organizations.

The prize is awarded ever y second year, the next time on May 22, 2018. The nomination period for the 2018 prize will open on April 3 and close on July 31, 2017.

To d a t e , t h e M i l l e n n i u m

Technology Prize has been awarded to 12 remarkable innovations. The latest winner is biochemist Frances Arnold.

Photo courtesy of Marica Salokangas Source: Suomi Finland 100 Singapore

Swedish Health Ministry’s Singapore visit

O

n Februar y 13-14, Swedish Ministr y of Health and Social Affairs’ representative Madeleine Harby Samuelsson, visited Singapore .

The main purpose of the State Secretary’s visit was to gain a deeper understanding of the health and elderly care sector in Singapore. Mrs. Harby Samuelsson led a delegation that comprised of representatives from Swecare, The National Board of Health and Welfare, Business Sweden, Karolinska Univer sity Hospital and seven Swedish healthcare companies.

As part of the programme, the

state secretar y visited Singapore General Hopsital, NUH hospital, All Saints Home, Lions Home for the Elders and Pathlight School. She also met with her counterpart, Dr Lam Pin Min, Minister of State at Ministry of Health and discussed increased bilater al collabor ation in the healthcare sector. In another meeting Mr Faisal Ibrahim, Parliamentar y Secretary at Ministry of Social and Family Development social and family development matters were discussed.

Source: Embassy of Sweden, Singapore

www.visage.com.sg

March 2017 • ScandAsia.Singapore 11

Banking & Financing

What type of investor are you? Active, passive or do-it-yourself investing?

You are your own worst enemy when it comes to investing. You can either decide to let someone else do it for you or create a solid investment framework to improve your chances of investment success.

What type of investor are you?

First and foremost, you need to ask yourself what kind of investor you are. Andrew Stotz helps you with this in his book, How to Start Building Your Wealth Investing in the Stock Market by asking three

questions. There is no “one size fits all” solution, but you’ll get a good idea about how to invest and where to focus by asking yourself; “Am I interested in picking stocks? Do I have time to pick stocks? Do I have the necessary knowledge to pick stocks?”

If you answer “yes” to all these questions, then you may choose to do-it-yourself and build your own stock portfolio.You may also choose not to go it alone, but try to identify a fund manager who aims to earn you above-market returns, after fees, due to his/her skill.

If you have little time, interest and/or knowledge, then keep it simple. Go for a passive, widely diversified index fund or ETF that aims to track the market return at the lowest fees possible.

Still curious about doing it yourself or going with an actively managed fund? First, learn that you are your own worst enemy.

You are your own worst enemy

There are a wealth of academic papers, books, articles, blog posts,— this could go on forever—already out there, about how behavioral biases and heuristics lead you to poor decision making, in investments and other areas of life. To give you the short version: you are your own worst enemy.

If you, like me, want some hard evidence to prove this argument, let’s have a look at some common behavioral shortcomings most of us (if not all) suffer from often.

You feel a loss two to twoand-a-half times stronger than an equal gain, and this makes you loss averse (Kahneman & Tversky, 1979).

This aversion can be a problem as you don’t dare to invest due to the risk of losing money and, therefore, certainly will not gain anything from 12 ScandAsia.Singapore • March 2017

investing either. Loss aversion can also result in taking on more risk to avoid sure losses, e.g. by holding on to a stock that has fallen by 50% just to avoid realizing that loss.

Have you ever had a friend or financial advisor who claims, “I knew it all along” after an event has already happened? That’s called hindsight bias, and it leads you to believe that the world is more predictable than it really is, and can lead you to become overconfident in your abilities.

Overconfidence is a concern as it can impact your assessment of the quality of the information you have and your ability to act on that information. For example, 93% of American and 63% of Swedish drivers rate themselves an above average driver (Svensson, 1981).

Of course, these are impossible odds; over half of all drivers can not be better than the average. In the world of investing, overconfident traders hold undiversified portfolios and trade more, which leads to worse performance (Odean, 1998 and Barber & Odean, 2009).

I may sound overconfident saying this, but I believe you are overconfident. Admit this to yourself too; be humble, do your research, and acknowledge that you don’t know everything.

Do it yourself

If you feel that you might, in fact, be your own worst enemy that doesn’t necessarily mean that you can’t do it yourself. Remember that professional investors also suffer

from behavioral biases too. A solid investment framework can help you deal with this. Here are some basic principles.

You’ll learn how to evaluate the attractiveness of a stock, how to reduce the risk in your portfolio, how to deal with both winning and losing stocks, and, ultimately, how to deal with yourself by avoiding acting emotionally when you’re investing.

Four elements of return

return which should be the goal for any active investor (otherwise, save time and effort; just buy a low-cost passive index fund).

In the paper Ten Stocks Are Enough in Asia, Stotz and Lu showed that by holding ten stocks in your portfolio instead of one, you reduce company-specific risk by 80%. A concentrated portfolio of ten stocks uses diversification to reduce risk but also increases the chance to outperform.

that managing your risk is more important than finding the absolute best stocks. The reason is quite simple; we know that stocks and markets crash now and then, if you can limit your losses when this happens, you have a larger chunk of wealth to accumulate returns on when it turns and goes up.

Stop loss is a simple, yet powerful, risk management tool.The benefit of a stop loss is that you predetermine future action. When you invest in a

U s e “ F V M R ” - i t s t a n d s fo r Fundamentals,Valuation, Momentum, and Risk. It’s the four different elements I look at when determining a stock’s attractiveness.

Fundamentals

A company’s profitability shows if it is managed well. Choose companies with high or rising profitability. Some financial ratios to look at here are return on assets, return on equity, asset turnover or operating profit margin.

Valuation

How the market perceives this stock.

Look for good fundamentals at low prices, and consider a balance of valuation and fundamentals. A stock with great fundamentals might still be attractive at a higher valuation. A few common multiples to determine the valuation are price-to-earnings, price-to-book, and price-to-sales.

Don’t forget to take profit

On the flipside, you also need to take profit on your winners. It’s not easy to know when the right time is to sell a winning stock. One method is to set a take profit point, like a reverse stop loss, so when the price has gone up to a certain level, you will sell it and lock in the profit.

This could though, result in losing future returns as you’re selling too early. So, another way is to regularly rebalance your portfolio. Let’s say you start with an equally-weighted ten stock portfolio, i.e. each stocks’ weight in your por tfolio is 10%, and one stock’s price performs exceptionally well so that its weight become 15% of your total portfolio.

When rebalancing, you would sell some of your shares until the stock’s weight is 10% again, and by that, locking in some of the profit too.

Whether you choose to go with passive index funds, actively managed funds or you choose to do it yourself, you need to first decide what is right for you. If you choose passive investing; focus on minimizing fees. Don’t pay an active fund manager more than his/her wor th either and don’t pay your adviser or broker too much. Most impor tantly, you need to have an investment plan or framework in place, and stick to it.

Momentum

Avoid “value traps” by looking for positive momentum in both price and earnings. Momentum in price examines if the share price has been going up over a certain period and positive momentum in earnings is if the company’s earnings have risen for some time. A strong price momentum tells you that the market is optimistic about the stock.

Risk

About the Author

Opt for low business and price risk.

Not every stock is going to fly, so, consider holding some that provide stable returns and strong dividends.

Hold a concentrated portfolio

Diversification is the necessar y concept of reducing risk measured as volatility in your por tfolio by holding a large number of stocks. A passive fund as an example will hold almost all stocks in the market and theoretically eliminate all companyspecific risk.

Diver sify and avoid taking unnecessarily high risk. Too much diversification though, reduces your chance of getting an above-market

Manage risk by determining future actions The investment guru Warren Buffet said: “Rule #1: Never lose money; Rule #2: Never forget Rule #1.” While it might be hard— or impossible even—to never lose money these words of wisdom tell us that a crucial part of investing is to manage your risk.

I would even go so far to say

stock, you decide that if the price drops to a certain level, you will sell the stock.

The level of stop loss can vary with markets and investment strategies, but 20% is often enough, i.e. if the share price falls by 20% from your buying price, you’ll sell your holding; helping you preserve capital and protect yourself from your emotions.

Alexander Wetterling, CIPM is a Por tfolio Strategist and Founding Par tner at A. Stotz Investment Research which provides institutional investors with readyto-invest portfolios that aim to beat the benchmark through superior selection. He is also the Head of Content for the investment blog, Become a Better Investor.

March 2017 • ScandAsia.Singapore 13

Banking & Financing

Nordea a Nordic bank in the East

N

By Maria Jønsson ordea has been present in Asia for decades, but roughly 4 years ago, the Nordic bank decided to open up a full-scale Private Banking branch in Singapore. The bank has since then offered its services to clients in Asia from its regional hub.

Being a Nordic bank in the East, Nordea Private Banking cares deeply about maintaining the Nordic values. So what are the Nordic values according to the Nordic bank?

First of all, Kim Osborg Nielsen, General Manager of Nordea in Singapore, explains that when working with Nordea in Asia, you can expect that your best interest as a client will always be in focus. Living the Nordic values mean that clients are treated fairly at all times and should never encounter short-sighted thinking from the bank.

14 ScandAsia.Singapore • March 2017

He believes that the Nordic value of treating each other properly, is basic and something we in the Nordic region have in common can be proud of. In Asia, Nordea´s team seeks to stand out by living this value.

“We make a vir tue of listening carefully to what our clients want. The topics discussed often go beyond investment of funds and seeking a return, to include impor tant areas such as succession planning or the impact of owning assets in different countries. It is tr ue that achieving a strong investment performance remains an impor tant par t of client´s expectations to us. However, being a relationship bank, trust and personal service is equally important.” he says.

Nordea sets new course for sustainability.

“Sustainability is very impor tant to us. In the

bank we apply sustainability concerns into all our core operations and policies. The public agenda demand that we step up as a sustainable financial player. Our actions have been to embed sustainability – also in our offerings to clients and relationships. As an example, more and more companies start caring about producing the paper towels that are biodegradable. When Nordea Investment Funds invest in companies, we focus on those, who do not contribute to the haze-problem that affects parts of South East Asia. Similarly, private investors have become more aware that by investing in companies with a sustainable focus, they may even achieve a higher than average investment return,” Kim Osborg Nielsen says, explaining that Nordea Private Banking has a special focus on this with their Sustainable Finance Department.

Another factor that the Nordic bank cares deeply about, is having proximity with their clients.

One of the main reasons for the bank to open up a branch in Singapore, was to be able to react faster and offer the same level of personal private banking to clients in Asia, which the bank provides in Europe.

Before, Nordea was serving their Asian based customers from their offices in Europe, but as a wide range of new country specific regulations have come into force, more tailored advise is required to continue to service wealth owners in Asia well, the Nordic bank found. Nordea´s customers deserve a faster turnaround time, and therefore the trip bankers had to take from Europe to meet the customers had simply become too long. Kim Osborg Nielsen explains.

“They should be able to work with their chosen bank all day, and not just from two o’clock in the afternoon,” he says, “so moving to roughly the same time zone as our customers made great sense to us.”

But it is not only being able to meet the clients professionally that is important to Nordea.

In general, they care about building up a strong relationship with their customers. Other than through their professional dependence, they arrange social and sports events, such as golf tournaments and Formula1.

But the Nordea Private Banking team in Singapore knows that they are not perfect, and they are constantly working to improve themselves. This, they believe, is done best by getting feedback from their clients.

“We have this ambition; when you are a customer of Nordea Private Banking, it corresponds to checking in to a five-star hotel.

As a guest at a five-star hotel, you won’t feel it if everything runs smoothly; but the day it doesn’t, you will feel it immediately,” Kim Osborg Nielsen says, and continues, “we want to separate ourselves from the others by offering some of the best professional skills on the market.”

This is why, he explains, Nordea Private Banking is strengthening it´s cooperation with leading business schools in Stockholm, Switzerland and UK. Before an employee can start advising customers from the branch in Singapore, he will have to go through a high standard of education where the bar is high.

“Our customers should be able to feel the quality of our craft; that is what we want to stand for,” Kim Osborg Nielsen says.

How can you make your money work while you enjoy life?

Find out by calling us in Singapore on +65 6597 10 70 or email at nordea@nordea.sg www.nordeaprivatebanking.com Nordea Bank S.A, Singapore Branch is part of Nordea Group, the leading financial services group in the Nordic and Baltic Sea regions. Some products and services may, due to local regulations, not be available to individuals resident in certain countries and their availability may depend, among other things, on the investment risk profile of persons in receipt of this publication or on any legislation to which they are subject. Nothing in this publication should be construed as an offer, or the solicitation of an offer, to purchase, subscribe to or sell any investment or product, or to engage in any other transaction or provide any kind of financial or banking service in any jurisdiction where Nordea Bank S.A., Singapore Branch or any of its affiliates do not have the necessary license. Published by Nordea Bank S.A., R.C.S. Luxembourg No. B 14.157 on behalf of Nordea Bank S.A., Singapore Branch, March 2017 • ScandAsia.Singapore 15 138 Market street Capita Green #09-03 Singapore 048946. www.nordeaprivatebanking.com subject to the supervision of the Monetary Authority of Singapore (www.mas.gov.sg).

THIS IS AN ADVERTISEMENT FROM SEB S.A.

SEB in Singapore The Swedish financial banking group SEB serves private individuals, small and medium-sized enterprises as well as large corporates and financial institutions through its branch office in Singapore.

WHERE TO FIND US 50 Collyer Quay #12-03 OUE Bayfront Singapore 049321 OVERVIEW OF SEB SEB, a Swedish financial banking group established in 1856, serves approximately 3,000 large corporations and institutions, 400,000 small and medium-sized enterprises (SME) and four million private individuals through its branch offices in the Nordics, Baltics, Frankfurt, Luxembourg, Singapore, Hong Kong, Shanghai, London, New York and other financial centres around the world.

PRIVATE BANKING IN SINGAPORE As a leading cross border private bank for primarily Nordic and German citizens residing abroad, SEB in Luxembourg opened a private bank branch office in Singapore in 2005, providing international wealth management services to customers residing in the Asia-Pacific region. As the first Nordic private bank in the region, SEB offers its clients account facilities in Singapore and a full range of traditional private banking services including investments, individual wealth planning services, mortgage solutions, direct market access via our Active Trading desk and much more.

LARGE CORPORATES & FINANCIAL INSTITUTIONS The Large Corporates & Financial Institutions team in Singapore provides a full range of commercial banking activities with emphasis on trade finance, local currency financing, cash management, shipping finance and treasury services aimed at the needs of Northern European and German companies and their counterparts in the region as well as Financial Institutions in Asia. Apart from Singapore, SEB has regional offices in Hong Kong, Shanghai, Beijing and New Dehli.

CONTACT PERSONS Private Banking Mattias Lindahl Senior Private Banker mattias.lindahl@sebprivatebanking.com.sg Tel: +65 6357 0898 Large Corporates and Financial Institutions Jan Stjernström General Manager jan.stjernstrom@seb.se Tel: +65 6223 5644 www.seb.se www.sebgroup.lu/privatebanking

Skandinaviska Enskilda Banken S.A. 50 Collyer Quay #12-03 OUE Bayfront, Singapore 049321. Tel: +65 62 23 56 44. Fax:+65 65 32 45 38 singapore@sebprivatebanking.com.sg. www.sebgroup.lu/privatebanking

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International wealth management services to customers residing in the Asia-Pacific region

Planning your future for you and your loved ones. Together.

At Private Banking within SEB, we acknowledge that everyone has a unique set of challenges. We concentrate on developing meaningful, long-lasting financial relationships and make the effort to really understand you and your requirements.

Your own private banker, client assistant and experts are dedicated to help you achieve your goals. Together we take a holistic approach, aiming at a well-planned future for you and your loved ones.

To find out what we can do for your personal wealth, contact us in Singapore on +65 63 57 08 95 or via singapore@sebprivatebanking.com.sg sebgroup.lu/privatebanking

March 2017 • ScandAsia.Singapore 17

Banking & Financing

OECD’s Common Reporting Standard (CRS) the impact on you

B

y 2018 practically all countries will automatically exchange financial data for tax purposes, in an initiative led by the Organisation for Economic Cooper ation and Development

(OECD).

The Common Repor ting Standard (CRS), in effect in Asia since 1 Januar y 2017, is an internationally agreed standard for the automatic exchange of information (AEOI) on financial accounts between jurisdictions for tax purposes, with the objective of enhancing tax transparency to detect and deter tax evasion through the use of offshore bank accounts.

As for the case of Singapore the country is this year asking financial institutions to establish the tax residency status of all their account holders and report some of the financial data to th IRAS (Inland Revenue Authority of Singapore).

For Singapore the first international exchange is to take place by September 2018.

A financial institution is a company which is a depositary institution (typically companies that manage depositor y accounts), custodial institutions (companies offering custodial accounts or similar to customers), investment entities (typically investment funds) or an insurance company, which offers savings products such as an endowment insurance.

All account holders should upon request provide their Financial Institutions with information and supporting documents to establish their tax residency status.

Banks and other FIs will typically use a self-certification form to collect tax residency information, writes IRAS. “In addition, FIs may ask the account holders to explain or provide supporting document to verify the accuracy of the information that they have provided on the self-certification. Account 18 ScandAsia.Singapore • March 2017

holders are advised to check with their FIs if they are unsure of the purpose for which the information is requested for.”

IRAS advices that in general, the tax residency of individuals, is determined by the period of a person’s physical presence or duration of stay in a jurisdiction in a year (e.g. whether the individual’s stay in a jurisdiction is over 183 days over a tax year).

IRAS stresses that it is important that you respond when you are requested by your financial institution to provide information or documentation to establish your tax residency status.

“If you do not provide the requested information or documentation, your financial institution may be obliged to repor t your account information to IRAS, refuse to open new account(s) for you, or in certain cases, close your existing account(s).”

“Wilfully providing false information on your tax residency status may subject you to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both.”

A representative of Nordea, one of the Nordic banks operating in Singapore, states that they are reaching out to all their client to selfcer tify to ensure that the repor ting is made correctly and since the bank will repor t that information automatically. It is important to fill in the information per CRS standard to ensure reporting in the correct country, e.g. where the account holder is declared as resident.

Nordea in Asia will for the first time report under CRS in 2017. What customer info will Nordea report under the CRS? With respect to the year 2016 and onwards on an annual basis, the Nordea will report the following information starting in 2017: • balance/value on depositor y accounts,

custodial accounts, insurances and fund accounts • information about interest, dividends and other returns • gross proceeds and gross amounts (for example from sale of securities and equity and/or funds), and redemption payments.

“Credit of tax, to avoid double taxation, may in some cases be allowed for income taxed in another country. This depends on whether there is a double taxation treaty between the countries in question,” writes Nordea.

“We should recommend the customer to contact a tax advisor in case the customer needs assistance with correcting a tax return or has questions how this procedure works. Generally, we may recommend any of the major accounting firms (PwC, EY, Deloitte, KPMG) as they usually have local contacts in all countries and can handle any issues that may come up because of the tax liability in another country.”

The following accounts, writes Nordea, are considered to be Excluded accounts (no reporting under CRS): • pension related insurances and pension savings accounts which meet cer tain criteria • accounts held by estate, • escrow accounts and, • accounts held by publicly tr aded corporations or a related entity of such publicly traded corporation Sources: OECD, Inland Revenue Authority of Singapore, Nordea

Business

Scandinavian solutions

at airport tradeshow Singapore

Ole Brinks Andersen and Thomas Halfdan Andersen from Power Stow

M

By Joakim Persson any Nordic companies and solutions exhibited (among 100 of the world’s leading airpor t equipment suppliers) at the Inter Airpor t South East Asia trade show at Singapore EXPO from 15 - 17 February 2017.

They were AirPo Products, Axa Power, Efla Oy, Hobart, ITW GSE, J&B Aviation, Power Stow A/S, Plus Eight System, Saab Group and Vestergaard.

Inter Airpor t presented the latest trends technologies and enhancements to improve the operational efficiency of airports within the region, which is seeing as well as anticipates tremendous growth in air traffic in the coming two to three decades. This draws attention from tried-andtested solutions providers as well as new innovative solutions for efficiency The exhibition featured a specialised GSE area featuring the best Ground Support Equipment available, in addition to equipment and services associated with the operations of terminals, ATC, and cargo facilities.

One such innovation now out to grow within the high growth Asian region is Power Stow A/S from Denmark. Their single product is the Power Stow Rollertrack – a unique and flexible extension integrated into a belt loader.

Constant product development and engineering are the main components in this very reliable and cost-effective extendable belt loader system, which has given Power Stow its position as market leader.

Power Stow is a separate business started by one of the Vestergaard family members and developed from scratch since 2003, and with 600 units of their sophisticated system in use worldwide.

This solution helps ground-handling companies’ load and unload baggage and cargo faster and more efficiently, while improving working conditions for

their staff.

Its main purpose is to save on manpower, said Thomas Andersen,Vice President of Marketing and Sales Asia at the trade show.

“If you a load manually load you will have 2-3 people inside the hull of the plane, while we need only one, and only two operate. For manual belt loading they will probably use 4-5 people, so it’s cutting down manpower. And it reduces injuries on your body from lifting and throwing bags in a very difficult environment. Also, damages to bags are reduced. And with less manpower we can do a faster turnaround on flights, which is not insignificant at all,” Using Power Stow reduces turnaround times of up to 30% and there are 50% fewer back and shoulder injuries as a result. Damage to baggage and floor is drastically reduced, as bags no longer need to be thrown.

It’s a unique product – we have hardly any competition – and you can say that it‘s a niche market. There are a few products that try to do similar things but we are in a unique selling point position of a unique product.”

Targets are airports, airlines and ground service companies.

“It’s a cultural thing; in Europe it’s very much ground service companies. In some airports in America it’s only airlines. Here in Asia we have a mixture of the three, depending on the culture you have.”

Thomas Andersen’s job is to repeating the American success that they experienced. Their Hong Kong office opened in August 2016 and is now expanding with one area sales and local person.

Power Stow attended Inter Airport SEA to be seen and build on their huge reference base and to showcase their high-end quality. Their customer base includes American Airlines, Southwest, KLM, Swisspor t, Menzies and other global ground

handling companies and airports.

“We want to make sure that prospects have a chance to know about us, and have the comparison.

And one of our biggest discussions is always about price, because we are talking about an expensive product made in Europe. So we always have to look at total cost of ownership and really make sure to show the client that the long running hours and that the maintenance is straightforward of this quality product. And then you have to calculate cost of manpower and all the other parameters that we sell on and give a business case to the client.

Even in Asia where manpower cost is less we still see a business case.”

Thomas also pointed to that no one will lose their job dues to using Power Stow, since there are plenty of other jobs for them to do at airports.

South East Asia is currently recording some of the best economic growth rates in the world, and is also forecasted as the fastest growing aviation market over the next twenty years.

Mr Daniel Ng, Director of Aviation Industry of Civil Aviation Authority of Singapore (CAAS, said at the opening ceremony: “Increasingly, technology and automation are becoming important themes, as airports seek to become more efficient amid rising labour cost, larger traffic volumes and shortage of manpower. CAAS and Changi Airport works closely with various stakeholders, such as airlines and ground handlers, to accelerate the adoption of technology for airport-wide programmes that would benefit the airport community and enhance passenger experience. Events like inter airport South East Asia are important as they provide a platform for new ideas and technology to be showcased”.

Mr Michael Wilton, Exhibition Director for organiser Mack Brooks Exhibitions Asia Ltd, said, “The rising demand for air travel across the region is an overriding trend. This creates the need to continuously develop airports across the whole region. The exhibition serves this need and supports the industry to achieve growth.”

The narrow body aircraft type that Power Stow is being used for is the one with biggest growth in Asia, so the future seems bright for the Danish company.

“Globally we have a market potential of up to 7000 units so we have only touched ten per cent and the market share of this narrow body aircraft type is still increasing,” said Thomas.

March 2017 • ScandAsia.Singapore 19

Business

Swedish branding consultants

LynxEye makes brands stay relevant in the digital world

F

By Joakim Persson

LynxEye co-founder and partner Christian Ihre 20 ScandAsia.Singapore • March 2017

ast increasing digitalisation and disruption are on everybody’s lips, with many businesses, based on yesterday’s models, struggling in this new online landscape.

The brands of today may, or may not be the brands of tomorrow. It depends on how they act and adapt in order to truly matter. Today consumers define the products and services to be developed and consumed (rather than the opposite way around). And with that comes challenges that require attention at the very core of any business. That is where the Swedish brand management company LynxEye, with offices in Stockholm, Singapore and London, expertly assists.

Spearheaded in Singapore by co-founder and partner Christian Ihre, they come up with strategies that help companies stay relevant for the long term and in future scenarios – whatever these may bring.

Most companies they meet know that change is inevitable, but not many know how to manage it. But, guided by LynxEye, brands and businesses can foresee and lead game-changing disruptions in their industry.

“What we do is assist companies to find themselves, or help launching on a new market and then help to find where there is growth potential,” explains Christian at a café across from their downtown Singapore office.

“How will the consumer of the future evolve and how can I position my brand to reach a growing target group that suits our kind of core competence? And position it in a way to become future proof in times of such rapid change.”

LynxEye developed a method for this quite “early”, and did exactly this market entrance for Spotify when they entered into the U.S. In Sweden they assisted the Swedish evening newspaper Aftonbladet in their successful digital transformation, to mention another client.

“That is within media the most successful digitisation of its kind in the world, actually.”

They also assisted Volvo Cars’ previous owner Ford in making the Swedish brand attractive for a new owner, (in itself a really interesting case story).

“So we help companies with lar ger transformations; to direct them towards a new positioning on the market and ensure that it gets implemented.”

Christian elaborates fur ther : “We look at what positions are actually steering a business;

How will the consumer of the future evolve and how can I position my brand to reach a growing target group that suits our kind of core competence?

And position that in a way so that one becomes future proof in times of such rapid change.

how will it evolve in the future, and what the company can do to head toward that position already today? And this is across the whole company, because a brand is not being created through its communication but it has become so multi-faceted that today it’s more about ensuring that every little facet, every meeting point between the company and its consumers, speak the same message.”

But repositioning has a lot to do with the experience as such.

“Where the digital experience or the meeting with the web takes place is where the brand is being created in your consciousness; where you get the impression of what kind of brand this really is. We have therefore expanded the business from being just strategy consulting into also assisting the digital transformation: how do I make my brand to be relevant when it has turned completely digital.”

And this digital transformation, says Christian is actually about something else: to find positions in a digital world. Understand implications for your brand in future scenarios!

“What opportunities are given to me in that digital world when I try to position my company in a certain way. Now you have all these digital tools, use them! But you really don’t know what to use them for. What is it they should create?”

“You must have a clear focus on who you are there for. And what need is there to satisfy for those persons, and then use the technology to ensure it happens.”

LynxEye works a lot with scenario analysis; looking at where the consumers are going in the future, what will affect them and how their behaviour will change, so that LynxEye can set strategies for how these companies should develop to end up right in five years’ time from now.

And that can mean a company needs to star t completely new things: “Absolutely! We are, for example doing a parallel process with a regional bank, completely outside their core business. We are to build an entirely new bank based on that they can see that their consumers are heading in a completely different direction than where a traditional bank can be relevant to them.”

These ‘outside in’- driven strategies, says Christian, is the reason behind why LynxEye has been so fortunate with good growth and a good customer base.

“Before, it was good information to have

but these days it’s absolutely defining, since there are so many markets being completely torn to pieces by companies from completely different categories and industries that through the technological possibilities we have today all of sudden start competing with you.”

“Development on the mar kets in this region is so fast today that they need help with understanding what will be relevant tomorrow, because once the strategy is changed and new products developed, you are a few years into the future, and then your strategy should not already be obsolete. The method we have developed in anticipating where the market is heading has been our success here.”

“The more disruption the better for LynxEye! Because what it means is that the old truths are no longer valid. Then our methodology comes in handy, where we say: “Disregard all the tech oppor tunities at hand, and all the new competitors that might show up, and just focus on the market you want to aim at, or the companies you want to have as clients, and where are they heading. What are they trying to achieve and where can you give them new oppor tunities?’ Then you find where they are heading and that they will be attracted by these kinds of products going forward,” says Christian and adds: “This is much more difficult on market standing still because then those companies are sitting with enough knowledge on where they

are going and much less need our assistance.”

Local and regional players in Asia can feel competition on a scale never before seen.

“They must be clear with their relevance and differentiation and what products they have that others do not have. So, that has in itself made our approach grow more attractive for our customers. And we have been with them in coming up with their product portfolio and innovation processes in order to come up with consumer-relevant results.”

LynxEye has also had to adjust their services to be relevant on the Asian market.

“Here one is more transactional. Long, fluffy strategies that will help them sometime in the future aren’t really the Chinese mentality, but rather : if you recommend something tomorrow, how do I make money on it today? We need to come up with these rapid tactic recommendations: ‘Here you have an opportunity that you can do already tomorrow, which is the first step,’ and help them very handson in making those happen.”

LynxEye’s aim is to become one of the world’s top three authorities within brand management.

“We star ted having so many assignments in Asia that we had a critical mass to actually develop locally. That combined with having this vision to become one of the three leading brand agencies means that we must be here, in the U.S and in Europe.”

Their Swedish origin is also a strong advantage over in Asia, where Christian believes they can ride on the wave of Sweden’s brand that stands for things growing in relevancy in Asia: sustainability, environment, equality and innovation.

“I came here with the idea that people did not care where one is coming from, especially when from a small country like Sweden. But I more and more have star ted to push our Swedish pedigree as that gives us trust.”

“Lynx is a Nordic animal. And our Nordic values are the base that we have always had and that we find to be very important.”

March 2017 • ScandAsia.Singapore 21

Community

Cold Potato salad

With this recipe for 4 perssons you can easily make one of the most delicious lunch dishes enjoyed by all Scandinavians.

15 egg sized Potatoes 2 1/2 dl. sour cream 2 1/2 dl. soured milk or yogur t natural - not sweetened!

2 teesp. sweet mustard 2 tablesp. teared shallots

2 teesp. lime 2 teesp. fresh chives 2 teesp. parsley Salt and pepper Tomatoes as garnish- optional

22 ScandAsia.Singapore • March 2017

• Boil the potatoes with the skin on and peel the skin of when the potatoes are cooled - that makes the potatoes more firm.

• Slice the potatoes, on the long side, into three or four slices, not too small.

• Mix the wet ingredients in a bowl, add the rest of the ingredients, taste with salt and pepper to suit your taste and finally add the peeled potatoes.

• Turn it all around in the bowl with a big spoon carefully, to preserve the potatoes from breaking. Top with some fresh spices and tomatoes.

• Le t it c alm/c o ol in t he refrigerator for at least 30 min.

Tip: Alternative to sour cream is to use yogurt natural add with a bit of sugar, olive oil and whipped cream. Then you will also get a more calorie reduced salad.

Make it your own personal salad! Add other vegetable with the potatoes for instance pineapple, mango or whatever you like. The best fruit or vegetables to add are the hard ones, so they wont get smashed.