Robust RAK Issue 14

Issue: 14│March-April 2016 facebook.com/RobustRak www.robustrak.com Strategic SME Partner

THE VOICE OF RAK BUSINESS COMMUNITY

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TOURISM IS A GROWTH STORY IN RAS AL KAHIMAH

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VISION 2016 FOR TOYOTA IN THE UAE

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RAK INTERNATIONAL AIRPORT: POISED FOR A SURGE H.E. Engr. Sheikh Salem bin Sultan bin Saqr Al Qasimi, Chairman, Ras Al Khaimah Airport

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CONTENTS March - April 2016

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08 RAK Industry Updates

Latest news and updates on the business community in Ras Al Khaimah.

12 RAK International Airport: Poised for a surge

15 The RAK Tourism growth story 18 Vision 2016 for TOYOTA in the UAE

Roberto Da Silva, General Manager Retail, Al Futtaim MotorsToyota talks about the company's hybrid technology push and what will make Toyota tick in 2016.

22 Start-ups show the way in innovation

When large companies look to startups for innovation, they both benefit. Companies can access early stage innovation, improve their offerings and mitigate disruption risk.

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March - April 2016

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24 Critical illness cover

vital for business owners

For any business owner - in particular owners of SMES - their share in the business is likely to be their biggest financial asset.

28 Mind the gap: better books

make better businesses

The inability, and sometimes unwillingness, of many SMEs to maintain proper books may lead to substantial difficulties and sometime even failure.

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32 The Business Newbies Rulebook

Whatever generation you belong to; the allure of entrepreneurship exists amongst us. But the picture needs to be clear on what it really takes to be an entrepreneur and to set up a new business.

40 Insurance: A source of capital?

We look at how SME businesses can use insurance as a part of their approach to properly financing their operations while at the same time increasing the possibility that financiers will be prepared to provide capital for growth.

30 The 'SME suppliers of

Government' Goldmine

There are several initiatives and policies such as the ‘Government Procurement Program’ or ‘Credit Guarantee Programs’ of the UAE Government to drive development of the SME segment.

43 Corporate Gadgets

For top executives, it’s all about style. In this section, we feature some new arrivals in the market that will elevate their power quotient. www.robustrak.com

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Earth Holding

P.O. Box: 10044, Ras Al Khaimah, UAE Tel: 07 - 2282555 Fax: 07 - 2264447 www.earthholding.com

In collaboration with

SPI Group

www.spigroup.ae www.robustrak.com www.theintelligentsme.com www.innovationandtech.ae www.innovationsummit.ae www.dubai-gbs.com www.smeworld.ae

Publisher's Note Ras Al Khaimah is recognised as one of the most rapidly developing tourism sectors in the UAE, the RAK Tourism Development Authority is transforming the emirate's tourism proposition to further increase its appeal to a more diversified international audience.

Follow us on twitter: @intelligentsme Facebook: facebook.com/RobustRak

Publisher & CEO Shantanu A.P. Group Editor Sandeep Sharma Asst. Editor Jinal Chheda Strategic Advisor Badal Saboo Expert Contributors Abed Shaheen Craig Moore Iman Ben Jim Kouzes Karthik Kapasi Marcus Gent ‘PK’ Menon Simon Hodges DESIGN : Å3® Creations Web Developer Raj Shekar Reddy Designer Retheesh Viswanath Distribution Department Jerry P. Sam Editorial Enquiries & Contributions

% 04-2659704, 04-2650312 Fax: 04-2690566 editor@theintelligentsme.com

Our focus in this issue of Robust RAK is the emirate's tourism sector and the efforts of the authorities to realise its potential. RAK is the perfect getaway for business, leisure, adventure, and luxury travel.

Visitors enjoy idyllic sojourns on terracotta deserts, white sand beaches and resorts, adventure activities including water sports, micro-lighting, mountain climbing, kayaking, as well as an eclectic selection of international gourmet experiences and world-class spas. It has enormous potential and visitors from the EU and Asia are increasingly discovering its charms.

The steady growth of tourism which the emirate has experienced over the past few years indicates that Ras Al Khaimah is firmly on track to achieving the vision of one million visitors by the end of 2018. It is inevitable that changes in the market both in the Middle East and across different regions will have an impact on the wider tourism industry but the emirate benefits from attracting visitors from a wide range of source markets across the globe. It is able to weather any changes in the market and decreases from a particular country or region are most often balanced by increases from other countries.

Tourism is the hot story from RAK this spring and we are delighted to bring this story to you.

Happy Reading!

Shantanu AP Publisher SPI Group & Robust RAK

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Disclaimer

SPI Publishing has endeavoured to bring out a publication that is reliable and informative. This is true to the best of our knowledge. The opinions presented are those of individual writers and not necessarily endorsed by SPI Publishing. The content in this magazine is protected by copyright law and is copyright to SPI Publishing unless credited otherwise, and may not be copied, reproduced or republished for any commercial purpose or financial gain.

Robust RAK MARCH — APRIL 2016

RAK INDUSTRY UPDATES

RAK Properties awards marina management contract to ART Marine Lagoon Marina set to become the premier lifestyle destination in RAK

RAK Properties PJSC, Ras Al Khaimah’s biggest property developer listed on the Abu Dhabi Stock Exchange, has signed a marina management agreement with ART Marine, the Middle East’s leading marina management company. ART Marine will operate the newly constructed Lagoon Marina, which is located at the heart of Lagoon Walk in Mina Al Arab, an eco-themed mixed-use waterfront community developed along the coastline of Ras Al Khaimah. The marina is set to become the premier lifestyle marina in Ras Al Khaimah when it commences operations in early 2016.

The initial phase of Lagoon Marina will accommodate 56 berths for all types of boats up to 30 meters in length. The marina’s unique positioning at the very heart of Mina Al Arab, provides residents with the pleasure of watching their boats, knowing that a trip out on the Arabian Gulf water is close at hand.

The marina will complement the dynamic neighborhood of Lagoon Walk, a 1.2 km waterfront promenade lined with restaurants and cafes enjoying unobstructed sea views and stunning sunsets.

Mohammad Sultan Al Qadi, Managing Director and CEO, RAK Properties, said: “ART Marine is renowned for transforming marinas into lifestyle destinations that offer memorable experiences. The

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Lagoon Walk is already noted for its natural beauty, so a world-class marina operated by one of best marina manager in the region will further cement Mina Al Arab’s image as one of the best residential developments in the UAE. We are already considering the next phase of the marina based on the surge of enquiries received to date from boat owners.”

Toby Haws, Head of Marina Management, ART Marine, added: “We are committed to operate the Lagoon Walk Marina as an integral part of one of the most distinguished real estate developments in the Northern Emirates. We will not just be managing a place for berthing marine vessels but rather as a genuine travel destination that adds to the appeal of the community and Mina Al Arab as a whole.” ART Marine manages six marinas in the region which are operated according to the best internationally recognized standard operating procedures, while preserving each marina’s specificity and character.

Mohammed Sultan Al Qadi, Managing Director &CEO of RAK Properties,

MARCH — APRIL 2016 Robust RAK

RAK INDUSTRY UPDATES

RAKBANK is first Over 8,600 companies in Ras Al Khaimah Free UAE bank with ISO 9001:2015 certification Trade Zone in 2016

RAKBANK is the first bank in the UAE to achieve the ISO 9001:2015 version certificate for its Branches and Inbound Contact Centre, certified by QCS Management Pvt Ltd and accredited by Joint Accreditation Systems – Australia New Zealand (JAS-ANZ). ISO 9001 certification benchmarks the standard of Quality Management System (QMS) of institutions based on the highest international standards and focuses on customer satisfaction.

Peter England, RAKBANK Chief Executive Officer, said: “The certification is just one element of a continuous commitment to quality management and to achieving maximum stakeholder satisfaction. It also reflects a strong bank culture for Service Quality and employee dedication. I am pleased that the Bank’s effort and commitment to Service Quality are now officially recognized through this international certification.”

The certification process included an extensive review and onsite audit of business processes and departments against global best practices in quality based on the requirements of ISO 9001:2015.

RAKBANK’s QMS is a collection of business processes focused on achieving the bank’s quality policy and objectives across its 35 branches and its Inbound Contact Centre. The bank’s strategy ensures the very best level of service is provided to customers by identifying new tools and systems that maximise engagement with customers at all touch-points.

RAS AL KHAIMAH FREE TRADE ZONE (RAK FTZ) has announced significant growth in the number of active companies from 8,000 to more than 8,600 hailing from over 100 countries and representing more than 50 industry sectors.

Ramy Jallad, Acting CEO of RAK FTZ, noted that the impressive figure was driven by the free zone’s dedication in attracting foreign investors to take advantage of Ras Al Khaimah’s (RAK) business-friendly environment and RAK FTZ’s wideranging business solutions. “It is incredible how RAK FTZ has grown over a short period of time. Looking back in 2011, we had about 4,000 companies operating in the free zone. A couple of years later, our client portfolio rose to over 8,600. Our determination in developing not only our facilities but also our systems and processes to provide ease to clients is definitely paying off. This is a proud moment for each of us in the free zone,” Mr Jallad said.

In 2015, RAK FTZ has undergone major infrastructure developments, which included the opening of 100 new warehouses with permanent water and electricity supply; the launching of its state-of-the-art District Cooling Plant; and the inauguration of its Boulevard Business Centre in Downtown Dubai to be more convenient for clients and investors in other emirates. In the same year, the free zone successfully acquired certification to OHSAS 18001 (Occupational Health and Safety Management System) and received various recognitions from eminent awarding bodies such as the German Emirati Joint Council for Industry and Commerce (AHK), Environment Protection & Development Authority (EPDA), fDi Magazine’s Global Free Zones of the Year and MEA Markets Magazine’s Business Awards.

The free zone’s future development plans include establishing new warehouses in the RAK FTZ Technology Park to meet the investors’ increasing demand for industrial facilities, master planning the Academic District to attract international educational institutions to RAK; continuously developing the infrastructure of the Industrial Park; and developing the one-stop shop’s physical location for the clients’ convenience.

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Robust RAK MARCH — APRIL 2016

RAK INDUSTRY UPDATES

Ras Al Khaimah Government signs MoU with Cisco Systems

THE EMIRATE of Ras Al Khaimah and Cisco Systems, the worldwide leader in IT, signed a Memorandum of Understanding which establishes a working relationship in the areas of education, commerce, healthcare and electronic government. This undertaking is a reflection of the Emirate’s commitment to continuous enhancement of its services to all residents.

The signing ceremony was attended by His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, and John Chambers, Executive Chairman of Cisco Systems.

Rabih Dabboussi, Managing Director and General Manager of Cisco UAE, said: “Cisco is honoured to be chosen by the Emirate of Ras Al Khaimah to partner with the RAK government on its digital strategy in key sectors through innovative technologies that will enhance citizen services and quality of life."

The Ras Al Khaimah Government confirmed that the RAK Datacentre will serve as the anchor project upon which the relationship will be further developed. The overall objective is to provide better services to both the government and private sectors in the Emirate. The RAK Datacentre is anticipated to be the first Uptime Institute Tier III certified facility in the Northern Emirates when it becomes operational in 2016.

RAK Insurance selects ESKADENIA for a wide range of software systems

RAK Insurance has selected ESKADENIA Software for the implementation and support of ESKA® Insures. The new, fully integrated initiative named ‘Project Candlelight’ will help RAK Insurance provide better service to customers by managing operations through web-based, state-of-the-art, and user-friendly systems. Modular structure also ensures a high level of security and access authorisations.

ESKADENIA will deploy 18 software products that include the bulk of the ESKA® Insures suite to offer RAK Insurance a range of sophisticated features that deliver a highly efficient and an automated insurance lifecycle with various distribution channels.

The software products also offer a customer-oriented, timeefficient, and highly transparent culture that extends real-time decision-making support.

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Andrew Smith, CEO of RAK Insurance said, “RAK Insurance is committed to its promise of providing innovative solutions on a simplified and transparent process using technology to positively effect changes in efficiency, productivity, quality, and competitiveness.

Our ultimate goal is to provide optimum insurance protection while engaging our customers to benefit from excellent customer service. We firmly believe this collaboration with Eskadenia will allow RAK Insurance to continue to prosper”.

Nael Salah, Managing Director at ESKADENIA Software says, “We are proud to be chosen as the software technology partner for RAK Insurance through the signature of this strategic agreement to provide nearly our entire insurance software product portfolio to RAK Insurance and extend a range of professional after sales services for an initial period of two years.

We are confident that the ESKADENIA range of advanced and fully integrated software products will empower RAK Insurance and contribute to achieving their ambitious targets in the highly competitive insurance sector of the UAE.”

MARCH — APRIL 2016 Robust RAK

RAK INDUSTRY UPDATES

RAKBANK Partners with Dubai Properties Offers Financing Options for Off-Plan and Completed Properties RAKBANK announced its partnership with Dubai Properties to provide convenient home finance solutions for a selection of complete and off-plan properties in Dubai Properties’ portfolio of projects. Under the partnership, the Bank extends home finance for off-plan properties such as Mudon and completed projects including JBR, Executive Towers, Bay Square, The Villa and Remraam.

RAKBANK offers affordable and flexible conventional as well as Sharia-compliant home finance solutions through AMAL at competitive rates to UAE nationals and expatriates, non-residents, and GCC nationals. To ensure utmost convenience, the Bank does not require a salary transfer from customers and is committed to minimum formalities and a fast approval process. Its team of specialist Home Finance advisors provide knowledge, tools, and dedicated service to guide customers and ease the entire home buying process.

Ian Hodges, Head of Retail Banking at RAKBANK, said: “As a prominent bank in the retail space, we are always looking to bring our valued customers added choice and convenience to their banking relationship. Our partnership with Dubai Properties Group gives us the opportunity to support our customers who wish to finance property in prime locations in the UAE.” Abdulla Abushabieb, Senior Executive Director, Customer Care and Government Relations, Dubai Properties said: "Our partnership with RAKBANK reflects Dubai Properties’ commitment to meeting the needs of the customers interested in home ownership in Dubai. Judging by the significant response to the launches of our new communities, we expect the high demand for high-quality and affordable homes in well located residential communities to continue. This partnership with RAKBANK will enable us to offer

our customers a flexible range of home financing solutions."

RAKBANK’s Home finance solutions extend up to 25 years with finance to value ratios of up to 80 % for UAE nationals; 75 % for expatriates for completed projects, and 50 % for off-plan projects. They are also available to salaried and self-employed business customers, as well as commissionbased employees. In addition, RAKBANK facilitates the transfer of any existing finances that customers have with other banks to enable them to avail the attractive rates on offer.

RAKBANK was one of the first banks to provide mortgage finance for freehold properties in 2004.

*Disclaimer: All loans are granted at sole discretion of RAKBANK. Standard Terms & Conditions apply.

RAK FTZ announces Startup Champ Winner RAS AL KHAIMAH Free Trade Zone (RAK FTZ) has declared the winner of the first-ever RAK FTZ Startup Champ Competition, which aims to recognise aspiring entrepreneurs with innovative business plans. After a thorough deliberation, Tomas Rosputinsky was named as the grand winner.

He will receive a comprehensive business package from RAK FTZ, which includes facility, license, and business support services. Mr. Rosputinsky’s project was an online and mobile app called “Staffino,” which helps customers leave feedback for the staff they meet.

“Our motivation behind the launch of the RAK FTZ Startup Champ Competition is to encourage a new generation of entrepreneurs to realise their dream business,” said Ahmad Numan, Director of Marketing and Corporate Communications, RAK FTZ. “Over the years, RAK FTZ has been active in nurturing startups and SMEs as they are one of the most important growth factors of the

UAE’s economy. In fact, we have been honoured by the fDi Magazine for our unrelenting startup support.”

The competition’s Project Manager, Shant Tengerian, Creative Director, RAK FTZ, noted that the initiative has attracted a large number of driven entrepreneurs. “Our aim was to inspire innovation and contribute to the country’s new and ongoing National Innovation Strategy. We received a total of 111 submissions over the course of four weeks and nine contestants were shortlisted to present their business plans to our panel of judges.”

The qualified judging panel, which comprised of Tomas Csobonyei, Business Development Director of RAK FTZ; Liam Mooney, Managing Director of Blue Pencil; and David Moleshead, Chairman and Founder of Envestors, also provided constructive feedback to all contestants who presented their business plans.

“We are grateful for the tremendous success of the RAK FTZ Startup Champ Competition. This inspires RAK FTZ to strive even further in encouraging the launch of more startup and SME companies by furnishing them with unparalleled client support services, state-of-the-art facilities that match their needs, fast-track company registration processes, and a business environment that is free from taxation,” Mr. Numan said. www.robustrak.com

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Robust RAK MARCH — APRIL 2016

COVER STORY

H.E. Engr. Sheikh Salem bin Sultan bin Saqr Al Qasimi, Chairman, Ras Al Khaimah Airport

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MARCH — APRIL 2016 Robust RAK

COVER STORY

RAK International Airport: Poised for a surge

A

s it approaches its 40th anniversary, Ras Al Khaimah International Airport has reported a highly successful 2015, during which aircraft movements of scheduled flights increased by 26% over the previous year. New charter operations from Germany, Poland, Latvia and Russia also kicked off.

In addition, Air Arabia, for whom RAK International is a growing hub, increased flight frequencies to the 10 destinations that they service from the emirate.

The cumulative effect of these positive results was a 17% rise in passenger traffic over 2014.

On the cargo front the airport's business grew by 51% year on year following some reconfigurations made early in 2015. Moving to non-aeronautical activities RAK International made significant progress too during 2015 with new deals being signed for Maintenance, Repair and Overhaul as well as aircraft decommissioning.

2016 will see a number of projects and initiatives, including a new cargo facility to be ready by April and the expansion of the Arrivals terminal which will be completed by May. 2016 also sees the 40th anniversary of Ras Al Khaimah Airport , leading Mohammed Qazi, RAK International Airport CEO, to say, "This is a moment when we should acknowledge past achievements, celebrate the present, and look forward to a future of growth. On that path, the clear vision of His Highness Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, continues to provide us with guidance and support."

Qazi emphasized that the focus ahead is on becoming the leading low cost and charter airport of the Northern Emirates, stating, "We have a long-term vision that is closely linked with the economies and growth trends of the Northern Emirates."

With Qatar Airways set to start operations from February, another major milestone, Ras Al Khaimah International will be able to continue its pursuit of the tourism sector as well as connecting the emirate to long haul destinations around the globe with 'the world's 5-star airline.'

On the short to medium haul routes Air Arabia plays a crucial role in connecting Ras Al Khaimah as the national carrier. New routes from RAK

are anticipated during 2016 for Air Arabia across the Middle East, Asia and Africa. However, in order to satisfy the continuously growing population and economies of the Northern Emirates RAK Airport is regularly speaking with other airlines and anticipates an announcement in the coming weeks regarding the commencement of another low cost carrier.

"2016 is going to be a challenging yet exciting year for us" added Mohammed Qazi. "We are very focused and aware of what lies ahead. Our target is to increase productivity, be efficient, develop customer intimacy and promote Ras Al Khaimah. It is about building a long-term and sustainable future that contributes to regional aviation growth."

DIRECT QATAR AIRWAYS FLIGHTS FROM DOHA TO RAS AL KHAIMAH BEGAN 2ND FEBRUARY 2016 • The QR1120 flight departs from Doha's Hamad International Airport at 20:15 • Connecting flights from Germany and Poland via Doha, improving accessibility from Europe The new flights have been announced as a result of growing demand for more capacity in and out of Ras Al Khaimah.

The new Airbus A320 aircraft operates four weekly flights with code QR1120 from Hamad International Airport, departing from Doha at 20:15 and arriving in Ras Al Khaimah International Airport at 22.30 local

www.robustrak.com

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Robust RAK MARCH — APRIL 2016

COVER STORY

2016 will see a number of projects and initiatives, including a new cargo facility to be ready by April and the expansion of the Arrivals terminal which will be completed by May. time. The return flight with code QR1121 departs from Ras Al Khaimah at 23.30 and arrives in Doha at 23.45 local time.

The aircraft features 144 seats in a two-class configuration of 12 seats in Business Class and 132 seats in Economy. Selected aircrafts will feature

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seatback TV screens, providing passengers with the next generation interactive on-board entertainment system Oryx One, featuring a choice of more than 900 audio and video on-demand options, together with an SMS text messaging service from each seat.

Haitham Mattar, CEO, Ras Al Khaimah Tourism Development Authority said: "We are constantly looking at ways in which to make Ras Al Khaimah more accessible to travellers and this agreement with Qatar Airways means that the emirate will officially be connected to 170 destinations across the globe.

Over the course of the next few years, we will be establishing several partnerships in the public and private sectors, which will ultimately support our goal of attracting one million visitors to Ras Al Khaimah by the end of 2018."

Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker said: "We are delighted to launch our newest route in the United Arab Emirates - Ras Al Khaimah. Qatar Airways ' network expansion will undoubtedly increase the flexibility and choice for our passengers to travel to and from different emirates in the UAE. And we are looking forward to enhance worldwide travel opportunities from Europe, Asia and Americas to new tourist destinations in the region such as Ras Al Khaimah."

Qatar Airways , the national carrier of the State of Qatar, is one of the fastest growing airlines operating one of the youngest fleets in the world. Now in its 18th year of operations, Qatar Airways has a modern fleet of 164 aircraft flying to more than 150 key business and leisure destinations across six continents.

MARCH — APRIL 2016 Robust RAK

COVER STORY

The RAK Tourism growth story

R

as Al Khaimah’s tourism revenue rose 12.4 per cent last year over 2014, the highest increase in five years according to Ras Al Khaimah Tourism Development Authority.

The growth in revenue was driven by a six per cent year-on-year increase in the number of visitors to 740,383 last year.

Hotel occupancy in the emirate grew 9.7 per cent to 64.7 per cent in 2015. Average daily rate and food and beverage revenues rose 7 per cent and 14.4 per cent respectively during the same period.

Revenue per available room (RevPAR — an industry measure of occupancy and rates) increased 10 per cent year-on-year to Dh355.93 last year, while hotel room revenue was up 12.1 per cent.

The United Kingdom and India were the fastest growing source markets for the emirate, as visitor numbers from the two markets rose 24.7 per cent and 80 per cent in 2015.

Domestic tourism also grew, and accounted for

47.7 per cent of total visitor numbers to Ras Al Khaimah last year.

“In 2016, we will further enhance our efforts to steadily diversify our visitor demographic, and focus heavily on showcasing Ras Al Khaimah’s global appeal through strategic partnerships with leading industry stakeholders and targeted in-market promotional activity,” stated Haitham Mattar, chief executive of the Ras Al Khaimah Tourism Development Authority.

RAS AL KHAIMAH AIMS TO ATTRACT ONE MILLION VISITORS BY THE END OF 2018.

“As the emirate continues its expansion plans to meet ambitious growth targets, we are broadening our rich offering through developing retail, dining, cruise, entertainment, and MICE [meetings, incentives, conferences and exhibitions] facilities, to further build Ras Al Khaimah’s position as a leading destination for business and leisure travel,” Mattar added. www.robustrak.com

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Robust RAK MARCH — APRIL 2016

COVER STORY INDIA A KEY FOCUS FOR RAS AL KHAIMAH TOURISM DEVELOPMENT AUTHORITY India continues to grow as a key source market for Ras Al Khaimah, contributing significantly to its goal of achieving one million visitors by the end of 2018 Ras Al Khaimah Tourism Development Authority visited India on 11th January to attend two key travel trade events. The objective of the events was predominantly to introduce Ras Al Khaimah to the Indian market and discuss the emirate's unique offerings for the Indian travellers, simultaneously expanding and growing relationships with key travel representatives. Ras Al Khaimah benefits from India's inbound tourism, primarily within the wedding sector and through short-stay tourists. A number of strategies were discussed at the events, including the set up of a representation office in Delhi and Mumbai, and developing more promotional materials with Indian travellers in mind.

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Speaking at the events held at New Delhi, Haitham Mattar, CEO of the Ras Al Khaimah Tourism Development Authority said, "India is one of our largest inbound growth markets - we have seen an incredible 80 per cent year-on-year growth in tourists from the sub-continent. There is great potential to increase these numbers even further, and this is the single biggest factor which spurs us on to further promote the emirate in India.

Ras Al Khaimah is growing as a tourist destination, and India is currently the fourth largest inbound market for the emirate, after Germany, Russia and the UK. In 2016 and beyond, the emirate's Tourism Development Authority will be placing an increasing focus on attracting Indian travellers through strategically planned content, relevant tourism products and services, focused marketing and communications efforts, events and tailored hotel products.

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Robust RAK MARCH — APRIL 2016

BRAND VALUE

Vision 2016 for TOYOTA in the UAE Roberto Da Silva, General Manager Retail, Al Futtaim Motors-Toyota talks about the company's hybrid technology push and what will make Toyota tick in 2016.

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MARCH — APRIL 2016 Robust RAK

BRAND VALUE YOU HAVE BEEN IN THE AUTOMOTIVE RETAIL BUSINESS FOR SEVERAL YEARS IN THE UAE. WHAT DO YOU FEEL HAVE BEEN THE MAIN HIGHLIGHTS OF YOUR JOURNEY?

a. We at Al Futtaim Motors have a customer-centric

approach, committed to continuously enhancing the quality of our customer experiences. Therefore, I remember that when the automotive industry was hit by some global challenges a few years back, we chose to make use of these times to train and develop our associates and enhance our processes to be better equipped for the future

b. Seeing the business grow has been a source of

pride for me personally. We have a very dedicated and hardworking team at Al-Futtaim Motors, and this has shone through with the consistent growth that we’ve seen over the past couple of years.

We also launched three all-new Toyota Business Centres, dedicated to serve our SME customers in Abu Dhabi, Dubai, Sharjah and the Northern Emirates.

This means exclusive account management, faster enquiry response, vehicle registration support, and dedicated delivery process, aftersales packages, leasing facilities, Total Cost of Ownership (TCO) approach and Fleet Management consultancy, ensuring Al-Futtaim Motors’ SME customers experience the company’s full range of Toyota Business Solutions.

WHAT BUSINESS OBJECTIVES HAVE YOU OUTLINED FOR AL FUTTAIM MOTORS-TOYOTA FOR 2016?

a. Growth is of course top of mind for all of us

here, and this is something that we’ll be targeting for 2016. Particularly, we are looking to develop our SME offering even further. Last year, we introduced several solutions that have assisted our customers in getting their businesses up and running faster, and this is something we’ll fine-tune even more this year.

b. We believe the introduction of Toyota Prius, the

new hybrid car, will lead the future of the mobility in the UAE. We remain the industry leader and hold our role as a responsible corporate citizen in high regard, which means it is our priority to increase awareness about hybrid technology among SMEs as an eminent solution to not just petrol savings, but also allowing them to play their part in the UAE Vision 2021 goal of a green society.

TOYOTA WILL EQUIP ITS CARS WITH SELFDRIVING SYSTEMS BY 2020. WHY ARE YOU STEERING TOWARDS THE DIRECTION OF SELFDRIVING CARS?

a. We have not had any direct talks with the Principals on this technology as of yet.

WHAT PHILOSOPHY DOES TOYOTA FOLLOW ON SAFETY AND SECURE SYSTEMS?

a. Safety is a priority not only for Toyota but for

Al-Futtaim Motors as the sole distributor in the UAE as well.

b.

Toyota’s philosophy of “Ever Better Cars” encompasses safety as one of its principles. By linking the innovative safety technology system equipped on vehicles in each stage of driving, Toyota is aiming to develop safe vehicles for everyone.

c. The development of Toyota Safety Sense is a new dimension of comprehensive integrated safety, and it was developed with focus on collision avoidance support, lane deviation prevention support and night visibility support, in order to reduce and in the future eliminate accidents.

HOW IS THE BRAND MODIFYING ITSELF FOR THE NEXT-GENERATION OF TRANSPORTATION SYSTEMS?

a. Toyota is the worldwide leader in hybrid

technology and fuel cell technology, with a large line up of hybrid cars and recently the first commercial fuel cell vehicle, the Toyota Mirai.

b. As a sign of how serious Toyota is about reducing

emissions, Toyota issued itself the “Environmental Challenge 2050”, the goal of which is to go beyond zero environmental impact and achieve a net positive impact. The six challenges within are new vehicles with zero CO2 emissions, life cycle zero CO2 emissions, plant zero CO2 emissions, minimizing and optimizing water usage, establishing a recycling-based society and systems, and finally, establishing a future society in harmony with nature.

c. More information about the Toyota challenge can be found at http://www.toyota-global.com/ sustainability/environment/challenge2050/

ACCORDING TO AN EXPERT ARTICLE, TOYOTA RELIGIOUSLY FOLLOWS THE MANTRA OF ‘CUSTOMERS FIRST, DEALERS SECOND—AND MANUFACTURER LAST’. WHAT IS THE STORY BEHIND THIS ETHIC?

a. Customer first approach is very much our mantra.

The customer is at the center of everything we do, in the aim of elevating the overall customer experience at every touch point of his journey with us.

b. New facilities that have fast and personalized

aftersales experiences, such as our Al Badia 3S facility, new digital solutions including a brand new website and the region’s first virtual showroom tour, are just a few of the projects we have implemented to ensure a unique and carefree purchasing experience from Al-Futtaim Motors.

TOYOTA HAS ALWAYS BEEN COMMITTED TO UPGRADING THE SKILLS OF ITS WORKERS RATHER THAN TO A HIRE AND FIRE POLICY. DURING THE 1997 ASIAN FINANCIAL CRISIS, HIROSHI OKUDA, PRESIDENT OF TOYOTA www.robustrak.com

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BRAND VALUE INDUSTRIES CORPORATION, STATED “CUT ALL COSTS, BUT DON’T TOUCH ANY PEOPLE”. TODAY THE MARKET HAS BECOME MORE CALLOUS AND VOLATILE, SO HOW DOES TOYOTA FOLLOW ITS PEOPLE PHILOSOPHY?

a. Al-Futtaim Motors has been part of the fabric of

this nation for more than 60 years, having celebrated our diamond jubilee last year. Being part of the Al-Futtaim Group of companies, we believe that our talent is our greatest asset, and an integral part of our strategy has been developing our own infrastructure, as well as developing the manpower with which to maintain it, something that has been essential to our success.

b. The Al-Futtaim Automotive Academy is dedicated

to providing essential training to develop the required skill sets for all of our associates. We have even developed a stage for associates to showcase what they have learned at the National Skills Contest, as well as other initiatives to keep our associates motivated to not just deliver results, but also have the passion to learn more and develop themselves in the workplace.

c. Additionally we have recently added a certification program for our frontline Sales Executives whereby our teams have to complete a number of rigorous customer-centric development plans in order to attain this much sought after certification.

ARE YOU OFFERING ANY NEW SERVICES AND SCHEMES FOR SMBs THIS YEAR?

a. Our latest SME offer is something we’ve called

“Triple Zero”, which offers zero down payment – with several different options to support any type of business, zero interest rate through our extensive banks network, and zero payments for 3 months.

HOW DO YOU MAINTAIN BRAND DIFFERENTIATION FROM OTHERS?

a. Toyota is known for its quality,

durability and reliability. More importantly, total cost of ownership is the best in the business, and it’s backed by 60 years of experience from Al-Futtaim Motors.

On the total cost of ownership front, Toyota vehicles have the best residual value, best fuel consumption, best management costs and of course, best service, maintenance and repair costs.

Combining all of these means that a business’ Toyota vehicles spend more time on the road, where they are meant to be, for longer.

WHAT ARE THE AUTOMOTIVE TRENDS YOU FORESEE IN 2016?

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a.

We believe hybrid is the future and 2016 will be the stepping stone for this technology to show what it can offer to the UAE. We have already seen how hybrid technology can help businesses, with many taxi corporations relying on a fleet of Camry hybrid cars to save not just money, but also drastically lower pollutant emissions.

We hope that the introduction of a popular hybrid solution such as the Toyota Prius will drive the regular populace to contribute to lowering emissions in the UAE, helping the UAE Government achieve its environmental targets before Expo 2020

PLEASE TELL US WHAT SMBs CAN LEARN FROM TOYOTA?

a. The Toyota way revolves around the philosophy

of “Kaizen”, a Japanese word that means “continuous improvement”. At Al-Futtaim Motors, we implement this philosophy in everything we do, whether in the cars we sell, the services we provide to our customers, or being a good corporate citizen.

b. This is driven by our group vision to be the auto company of choice by providing value based customer experiences enabled by an empowered and engaged workforce – choice, value, empowered and engage being powerful words that sit firmly behind our vision… choice for customer, employees and manufacturers and adding value to our customers experience.

Improving the way we conduct business as well as the way we work within our business units has enabled us to become the largest dealer in the UAE, with unrivalled market share, products and services.

That is the philosophy SMBs need to embrace in order to grow.

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INNOVATION

Start-ups show the way in innovation

When large companies look to startups for innovation, they both benefit.

Companies can access early stage innovation, improve their offerings and mitigate disruption risk. Start-ups get the opportunity to access new markets, expand and grow their business, create employment opportunities and pursue their dreams of making the world a better place.

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INNOVATION

I

you look at the recent history of disruptive innovation, powerful ideas that reshaped entire industries have almost always come from industry outsiders. Think Google Map Navigation Vs GPS devices, Uber Vs the taxi industry and the iPhone Vs personal computing (yes the iPhone didn’t just disrupt the telecom industry, it disrupted mobile computing), Instagram Vs camera and film, Facebook money transfer Vs remittance. The list goes on.

Expertise is undoubtedly necessary for innovation. However, in an age where growth is exponential rather than linear, as brilliantly described by Salim Ismail, Michael Malone and Yuri Van Geest in their book “Exponential Organizations,” we have to change the way we look at sourcing innovation. Traditionally, companies have looked inwards and focused on building innovation centers within the organization.

This approach helps in incremental innovation but is not sufficient or efficient if companies want exponential growth.

There is overwhelming evidence that it is people working on the margins of their profession rather than insiders who are driving breakthrough business ideas. A case in point is Uber, which has reshaped the entire taxi industry by leveraging what John Hagel III described as the ‘Power of Pull’ in his book by the same name.

A traditional taxi company can own and employ a certain number of cars and drivers, while a company like Uber can pull cars and drivers when needed without owning any asset. Scalability is abundant when resources can be pulled on demand.

Aramex, Dubai-based global provider of logistics and transportation solutions, is another example of a company that has thrived by embracing this model.

While traditional industry players owned the aircraft they used to deliver packages, Aramex’s asset-light model has allowed it to utilise available space with airlines as needed. This strategy has allowed it to avoid significant costs required to own and maintain massive fleets across global markets and to also scale up and down as demand increases or decreases.

InfoFort is another example of looking outside for innovations. When we wanted to enhance our solutions and offer document management and workflow systems, we had to choose between developing these internally or to look outside. We chose the latter path and researched and identified potential startups that we can partner with. We eventually ended up acquiring a majority stake in a well-established, fast growing and innovative startup in Turkey (CBK Soft) that had very advanced technology (envision document and workflow management). This gave InfoFort immediate access to talent, a new market, and technology. It also gave CBK Soft immediate access to 18 new markets where InfoFort operates, and the ability to accelerate growth. Everybody won. Breakthrough models like these, point to the need to change our approach to innovation.

Rather than looking inwards, we need to pull innovation from the outside. People that find radical

solutions to business challenges are not necessarily experts.

They are entrepreneurs and smart young individuals who are approaching challenges and opportunities from a different perspective.

These are the “crazy” ones that Steve Jobs talks about. These are the ones that Peter Thiel in his book “Zero to One” calls 0 to 1 innovators compared to 1 to n innovators who innovate incrementally.

The former represent creation, breakthrough innovation and disruption whereas the latter represent gradual growth.

The 0 to 1 people are the entrepreneurs and startups that are today getting together informally, even virtually, building something that can one day become a big-bang disruption - something like Instagram or Whatsapp that will take the industry by storm. When large companies look to startups for innovation, they both benefit. Companies can access early stage innovation, improve their offerings and mitigate disruption risk.

Startups get the opportunity to access new markets, expand and grow their business, create employment opportunities and pursue their dreams of making the world a better place.

The startup landscape is still in its nascent stages.

There’s a new generation of entrepreneurs who are coming up with outstanding ideas but require a favourable ecosystem to implement their ideas successfully. This requires the active support of funding organisations like venture capital funds, support organisations like incubators and accelerators, service provider organizations and investors. Most importantly, startups and innovators need people to believe in them, engage with them and pull them into larger organizations.

To thrive in today’s changing market environment, business leaders in our region need to incorporate an innovation-pull culture into their companies and strategies. The innovation-pull model will allow companies to source innovation from industry outsiders significantly more efficiently and costeffectively than they can from within. This is where the future lies.

Traditionally, companies have looked inwards and focused on building innovation centers within the organization.

This approach helps in incremental innovation but is not sufficient or efficient if companies want to achieve exponential growth.

Abed Shaheen is the CEO of InfoFort, an Aramex company and the leading records and information management solution provider in the Middle East and Africa. He is primarily responsible for positioning the company, developing and driving its global strategy and leading its expansion and growth.

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PERSPECTIVE

Critical illness cover vital for business owners For any business owner - in particular owners of SMES - their share in the business is likely to be their biggest financial asset. It is important to protect human assets for the benefit of their family, business partners, shareholders and to ensure continuation.

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ll businesses have employees that are key to their success and profitability, and most would be adversely affected if one of these people were to suffer a critical illness or die. A key employee is anyone whose critical illness or death would have a major impact on the business’s continuity, its financial status and future profits; they do not necessarily need to be a significant shareholder.

Some of the problems associated with the critical illness or death of a key employee include loss of sales, loss of confidence in the business, loss of competitive edge, failure to deliver on major projects and withdrawal of credit facilities. In addition there can be unnecessary strain on colleagues as well as recruitment and retraining costs. In some cases, it could lead to the business becoming insolvent.

According to the World Health Organisation, 9,700 people died in the UAE between 2000 and 2012. Two thirds of these deaths were due to three main causes – Cardiovascular Disease (30%), Accident and Injuries (23%) and Cancer (13%). The Dubai Health Authority announced in 2011 that cardiovascular disease was the leading cause of death in the Emirate, with one in every five deaths attributable to cardiovascular diseases.

While these deaths were no doubt devastating for the families involved, the critical illness or death of a key employee could have wider implications for a business. It could affect its ability to obtain finance and impact commercial loans, directors’ loan accounts and any personal guarantees given on their behalf.

For any business owner - in particular owners of SMEs - their share in the business is likely to be their

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PERSPECTIVE biggest financial asset. They need to take steps to protect it for the benefit of their family and for the benefit of their partners, directors and other major shareholders, to ensure the continuation of the business. Business protection plans, based on a suitable legal arrangement, can provide a simple way to protect the interests of everyone connected with a business.

“Business owners tend to insure the things they consider vital to keep their businesses running in the event of a disaster. What we find though is that their greatest asset – their people – is overlooked when it comes to protection planning. For example, while most companies have insurance for their office building and their office equipment, they have no cover against the critical illness or death of their key employees, directors, partners or major shareholders.

Businesses need to be more aware of the implications and the potential risks of not covering their key personnel,” said Marcus Gent, Managing Director Middle East and Rest of the World at Friends Provident International.

The plan most often used to provide life cover for businesses is Term Assurance, the duration of which can be tailored to the individual key person scenario. For example, if the key person is a project leader it should be possible to identify how long they will remain in their role, and a policy effected for that length of time. For other types of employee it

Business owners tend to insure the things they consider vital to keep their businesses running in the event of a disaster.

What we find though is that their greatest asset – their people – is overlooked when it comes to protection planning 26

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may not be easy to identify how long they are likely to remain fundamental to the continued success and profitability of the business; and they may not stay in the same position for a long period of time as assistants, successors, or other experts may join the business to share their responsibilities.

“The Middle East is home to some of the most entrepreneurial and technologically advanced businesses in the world, but in our experience few recognise the problems that could arise following the death or critical illness of a key member of their organisation. Term Assurance is an inexpensive plan, that when set up appropriately can help them mitigate the impact of the death or critical illness of someone key to their business” said James Panton, Unlimited Underwriter and Regional Technical Development Manager at Friends Provident International.

Sometimes, banks are not willing to make a loan to the remaining partners as they do not see the business as viable without the technical expert.

If companies put a suitable business protection plan in place, sad situations can be avoided. The business can be compensated for the loss of a key employee and could use the funds to pay the family, and to recruit a replacement, enabling the business to continue.

Business protection in the form of life insurance can help enterprises protect themselves against the problems arising from the critical illness or death of a key employee, and ensure the business is able to continue. Such life insurance plans are relatively simple to effect- and are a cost-effective way for a business to safeguard its future.

Marcus Gent - Managing Director of Middle East & Rest of The World of Friends Provident International Limited Marcus Gent is a qualified actuary, and joined Friends Life in November 2010, where he was responsible for the strategy, marketing and commercial functions for Friends Life's corporate benefits business unit. He moved to Dubai in his current role in July 2014.

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Robust RAK MARCH — APRIL 2016

BEST PRACTICE

Mind the gap: better books make better businesses

The inability, and sometimes unwillingness, of many SMEs to maintain proper books may lead to substantial difficulties and sometime even failure. There are compelling reasons for businesses to maintain proper records, beyond the obvious: good bookkeeping methods signal a better run business and garner easier finance.

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BEST PRACTICE

E

ntrepreneurs and small business owners spend numerous hours thinking about business strategies but not enough time on their bookkeeping, placing it low on their priority list. Many simply embrace the “shoebox approach” for record keeping, recording sales and purchase transactions on pieces of paper and then storing them in a shoebox.

The saying goes, “if you can’t’ measure it, you can’t manage it.” Bookkeeping gives businesses visibility on cash flow, allowing them to better plan for purchases and other costs, making it easier to forecast business needs ahead of time. It also helps meet deadlines for payments such as rent, salaries, bills and loans.

In fact no business can stand the test of time without good bookkeeping.

Clear books are an essential tool to gauging performance, offering a clear indicator of success, growth, decline or stagnation. SMEs can better adapt their strategies to changing dynamics and can make the necessary adjustments to turn things around or focus on areas that are growing to capitalise on opportunities.

Good bookkeeping practices are also an early warning system, alerting businesses of looming issues like rising costs for products or equipment or unpaid invoices before they damage the business. Effective record management also provides protection against threats such as internal theft or dishonest employees by revealing fraud, wastage and record keeping errors. Additionally, they allow businesses to track money transactions and determine if there are any discrepancies that need to be rectified.

It should come as no surprise then that a lack of proper record management contributes to the failure of many SMEs. Clear record keeping also facilitates sound, informed decisions when it comes to increasing headcount. It shows clearly whether a business can withstand the additional costs of new employees and labour. By providing a background picture, bookkeeping also helps SMEs spot trends and patterns, allowing them to forecast their future and set goals and projections.

There is one crucial benefit of good bookkeeping that is often overlooked: beyond providing accurate information for making good decisions, proper bookkeeping is a calling card that says you are a serious business. The ability to present records that are in good order conveys a strong signal that your business is well-run and that you are likely a reliable partner to other businesses, organizations and investors seeking to do business with you. Proper records will make potential financiers and partners more confident when deciding to engage with a

Good bookkeeping practices are also an early warning system, alerting businesses of looming issues like rising costs for products or equipment or unpaid invoices before they damage the business. business and would make a potential acquirer feel more confident in their purchase.

In fact, bookkeeping is so vital for SMEs seeking funds, that it can make the difference between garnering the funds to grow and being rejected. The ability to present audited financial statements for use by management, banks and prospective creditors, will make a strong case for an overdraft, a loan or flexible financing and credit terms.

Beehive looks closely at the financial records of SMEs seeking finance. We look at a range of variables that determine the credit risk of a business, and we rely heavily on documentation produced with reliable bookkeeping. An SME’s ability to produce such records means that the business is serious and committed to success, and is a reliable borrower.

It also indicates that the business is well-managed, organised and has nothing to hide.

To help SMEs build their books better, Beehive has entered into a cooperation agreement with UHY Saxena, a member of UHY International’s network of independent accounting firms with offices across more than 89 countries, to give SMEs access to worldclass, professional accounting that they would not normally afford. UHY Saxena offers SMEs that are looking for finance through Beehive, a cost effective way to obtain the required audited financial reporting at significantly reduced rates. SMEs that have not maintained good financial records in the past, can also use this option to gain a better understanding of their financial strength and open a new avenue for financing their growth.

Now is the time to take those receipts out of shoeboxes and wear your accounts with pride.

Craig Moore is Founder & CEO of Beehive, the UAE’S first online peer-to-peer finance platform for creditworthy SMEs and smart investors.

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OPPORTUNITY

The 'SME suppliers of Government' Goldmine

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OPPORTUNITY

There are several initiatives and policies such as the ‘Government Procurement Program’ or ‘Credit Guarantee Programs’ of the UAE Government to drive development of the SME segment. But are commercial banks aligned enough to support these initiatives? Karthik Kapasi of Cedar Management Consulting highlights key risks principles that determine SME creditworthiness.

I

t’s a well-known fact that only 5 percent of total loans are made to the SME segment in UAE versus 15 percent in more developed nations.

This is primarily because of the risk perception and challenges for banks in the region. While working with most leading banks in the region across SME and mid-market segments, it’s very evident that they are extremely cautious and selective towards SME lending in the volatile market scenario.

One common theme that we come across these banks is the level of comfort they have lending to SMEs that supply Government agencies. However, opportunities have not been explored enough due to the over cautious mindset of bankers with which SMEs are being perceived.

There are 4 key risks principles that determine SME credit worthiness.

Let’s look at how risks are typically addressed by banks while lending to SMEs associated with the Government agencies.

INDUSTRY RISK Most banks would have an Industry strategy which would lay out guidelines for lending covering key sectors where the bank lends and the high-risk sectors where lending is restricted.

However, most of them do not take into consideration industries where Government participates in terms of the SME supply chain. Of the 300 top SMEs across 12 sectors and 57 industries, those from at least 18 industries are involved in supplying to Government agencies. Clearly, at least a dozen of these sectors have a highconcentration of SMEs with a positive or stable industry outlook. There’s significant opportunity for banks to collaborate with Government and have a specialized value proposition

and focused lending strategy for these SMEs in the Government supply chain.

MANAGEMENT RISK A key challenge most of banks face with the SMEs is to assess the quality of the management team. SME financing is similar to private equity, and hence banks should train to assess the quality of promoters to repay. However, this due diligence is mostly considered to be inadequate due to quality or nonavailability of information. Since government vendors and suppliers have to go through a rigorous duediligence process to participate in the supply chain, banks can draw greater comfort lending to these.

QUALITY OF UNDERWRITING AND CREDIT FRAMEWORk It’s critical to have a comprehensive underwriting framework aligned to the overall credit policy for SMEs. Even while lending to SME suppliers of Government, there should be no short-cuts while assessing credit risk. However; what’s more critical is to have a rigorous monitoring framework to manage exceptions and identify early warning triggers of credit default.

LEVEL OF COLLATERAL AND SECURITY More often than not, you’ll find banks with high loss rates in the SME segment lacking adequate collateral or security coverage. However, in case of a SME supplier of Government the banks can consider products with relatively lower risk such as invoice discounting, receivable financing, supply chain financing or equipment financing which are adequately backed by receivables.

It’s also wise for banks to assess the end-to-end supply chain of all the federal entities to identify potential opportunities. Some ministries deal with specific industries for products and services aligned to their strategic objectives, e.g. Ministry of Health deals with Healthcare Products and Equipment suppliers, Pharmaceuticals, Hospitals, Clinics, Laboratories, Engineering and Contracting firms for construction of medical facilities. Similarly, a few industries such as Business and Professional Services, Property and Facility Services, ICT and Financial Services, are critical all federal entities.

To conclude, there is significant lending opportunity in an industry value-chain across all federal entities - 11 federal ministries, 19 federal authorities and 25 federal institutions. If banks profile the SMEs participating in these supply-chains for size and scale, geography, sector/industry traits, financing needs and key risk indicators, they can develop a value proposition for SMEs and play a significant role in promoting sustainable economic development.

Karthik Kapasi is a Senior Engagement Manager at Cedar Management Consulting International LLC. Karthik has over 10 years of strategy and transformation experience and has worked on several engagements in the areas of SME/ Business Banking covering industry research, products, credit, risk and process. He can be reached at Karthik. kapasi@cedar-consulting.com

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LEADERSHIP

The Business Newbies Rulebook

Whatever generation you belong to; the allure of entrepreneurship exists amongst us. But the picture needs to be clear on what it really takes to be an entrepreneur and to set up a new business.

T

he number of times I’ve read about the death of 9-5 jobs and the rise of entrepreneurship indicate that the millennial generation is even more into entrepreneurship than any previous generations, which for many of us can sound alarming. We believed you can only become an entrepreneur once you’ve acquired the right expertise from working in the corporate world.

But, is this still the case?

Whatever generation you belong to, the allure of entrepreneurship exists amongst us. But the picture needs to be clear on what it really takes to be an entrepreneur. The dandy picture of keeping your own time instead of the 9-5 with no boss needs to be eradicated because it’s much more than just that. So what are some of the things you need to think of when considering taking the dive into entrepreneurship?

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LEADERSHIP your entrepreneurship dive through its thick and thin, you need to make sure you pick something you’re really passionate about so you can endure and make a successful business out of it.

If you want to survive in your entrepreneurship dive through its thick and thin, you need to make sure you pick something you’re really passionate about so you can endure and make a successful business out of it.

WHAT IS YOUR PASSION? WHAT IS YOUR CALLING? Along the years of my business, many have asked me why I chose this business in particular. Mine is digital publishing of magazines and books. At first that question used to catch me by surprise, because I didn’t understand where was the mystery in the question! This is what I loved hence this is what my business is about. The more I read about entrepreneurship, I realized that the reason I went into this business was that “I followed my calling.”

Many more asked me how to find our calling?

The truth is, there are no simple steps or guidelines for this. You need to dig deep and find what is it that you are truly passionate about, what it is that no matter how tired you were, the moment you see it or work on it you feel reignited and energetic again. It could be a field of interest to start a business in or it could be a talent to offer as consultancy. If you want to survive in

DO YOU NEED TO QUIT YOUR JOB OR CAN YOU BALANCE THEM BOTH? If you already have a job and you came up with your new business concept, do you quit right away? Most of the times, you shouldn’t, but not always. In my experience, I actually stayed in my job for few more years until I stabilized the business concept, ensured it was profitable and sustainable, and then I quit my job. Once I did, with the time that I had, I was able to focus further and accelerate its growth much more than I could have while still in the job.

Why would you need to stay in the job sometimes? It could be because you need further financial liquidity before depending on your new business’s profits completely, or you’re gaining valuable experience that would help you in the business. Or it could simply be because you want to ensure this new business concept will succeed in the market before you cut all your other financial incomes.

HOW MUCH CAPITAL DO YOU REALLY NEED? Business concepts differ in how much money they need for start-up. Service oriented companies require the least, while manufacturing and products oriented companies require way more.

Even if you owned a fortune, don’t go ahead and pour in money without measuring how much it really takes for each item in the business, from setup, running costs, production costs, marketing costs, labour cost, and much more.

Many businesses fail when they spend without measuring, because what they don’t anticipate is that there will still be way more that requires investment in the journey ahead. A good tactic would be to ask around and research online for unforeseen expenditures in the business you’re entering into so you can plan the finances ahead.

Iman Ben Chaibah is Founder of Sail Publishing, a digital publishing house for online magazines and e-books, and Editor in Chief of Emirati Sail Magazine, an online magazine about community and culture written in English by Emirati columnists.

Iman is a multi-award winner in digital publishing, entrepreneurship and literature.

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LEADERSHIP

Five best practices for effective leadership A recent survey of expats named Dubai one of the best places in the world to start a business, a positive indicator for the UAE as it pushes towards its Vision 2021 initiative to be one of the best places in the world for entrepreneurship. For those starting a business, how can they ensure that they’re on track for success? The key, says Jim Kouzes, is great leadership.

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LEADERSHIP

G

reat leadership creates great workplaces.

In our research, we found that leadership contributes more to positive outcomes than any other single factor. Great products, great strategy, great people are absolutely critical but with poor leadership they produce only a third to a half of their potential.

So, entrepreneurs and SMEs striving for great results in their marketplaces should start by investing in the development of exemplary leadership skills.

IDENTIFYING THE PRACTICES OF GREAT LEADERSHIP When Barry Posner and I began our leadership research over thirty years ago, we had a simple question: What do leaders do when they are operating at their personal best? We wanted to know how they made extraordinary things happen. To uncover these practices we asked people to recall a time when they set an individual leadership standard of excellence,

Leaders don’t do their best when they’re maintaining the status quo or when they feel comfortable. They do their best when faced with adversity, crisis, and difficulty. present or past, and then we asked them to tell us what they did during those peak performances. We asked about the context, their intentions, their specific actions, the people involved, lessons learned, and other aspects of their personal-best cases.

We gathered stories from leaders at all levels in the public sector and education, profitbased firms and non-profits, agriculture and high technology, manufacturing and utilities, banking and healthcare, natural resources and retailing, and the arts and community service.

The leaders were employees and volunteers, young and old, women and men from over seventy different countries representing many different ethnic, religious and cultural backgrounds.

After analysing thousands of these leadership experiences, we discovered — and we continue to find — that regardless of the times or the settings, people who guided others along pioneering journeys followed surprisingly similar paths. Though each personal-best experience was unique in its

individual expression, there were clearly identifiable behaviours and actions that were consistent across the vast majority of cases.

THE FIVE PRACTICES OF EXEMPLARY LEADERSHIP® We found that when making extraordinary things happen in organizations, leaders engaged in what we call The Five Practices of Exemplary Leadership®.

When performing at their best leaders:

• • • • •

Model the Way Inspire a Shared Vision Challenge the Process Enable Others to Act Encourage the Heart

These practices are not the private property of only the people we studied. Nor do they belong to a few select shining stars. The Five Practices are available to anyone who accepts the leadership challenge.

Our message is similar to the message of HH Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, and Prime Minister and Vice President of the UAE. In 2013 he wrote, “Anyone who can improve the life of those around him is a leader. Anyone who can serve people and make them happy is a leader. A leader is also a person capable of creating positive change, whether at work or at home and of innovating and creating even the simplest of things. All people are born with the seeds of such qualities which they can nurture and grow, so that, bit by bit, they advance on the path to leadership and ultimately evolve into great leaders.”

MEETING THE CHALLENGE For businesses today, whether you are an eighty-yearold corporate icon, or a high-tech start-up, nothing is certain. There is no doubt about it - we live in challenging times.

Yet, as surprising as it may sound, in these difficult times we’re likely to see some of the most extraordinary leadership we’ve seen in decades.

That’s because leaders don’t do their best when they’re maintaining the status quo or when they feel comfortable. They do their best when faced with adversity, crisis, and difficulty. Whether that involves developing innovative new services or starting a new agency or business, challenge is the opportunity for greatness.

Here in the Gulf, it is widely recognized that exemplary leadership is the key to outstanding organizational success. Wise leaders know that they need to invest in learning the behaviours that will enable them to become the very best they can be and to develop those same competencies in others.

Entrepreneurs ready to make that investment will launch their start-ups on a path to long term success.

Jim Kouzes is the Dean’s Executive Fellow of Leadership at Santa Clara University and has coauthored over 30 extensively-researched books and training materials, including the award-winning The Leadership Challenge.

www.robustrak.com

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Robust RAK MARCH — APRIL 2016

OUTREACH

UAE at Morocco Trade Show ONE1INFO was the sole UAE representative to attend the Moroccan trade show for industrial subcontracting, machinery, equipment and services, which took place at OFEC, the Casablanca Exhibition Centre, on 9th to 12th December 2015.

One1 Info was one of the lead exhibitors at the event, meeting with several corporations and multinational organisations who expressed strong interest in

developing their business in UAE. We conducted extensive meetings, presentations and seminars highlighting the benefits, procedures and processes of establishing a business in the UAE. One1Info also hosted a number of networking events for MENA companies to meet our UAE delegation at the exhibition with overwhelming success and to the benefit of participants.

ROBUST RAK as our Media Partner and a prominent and reputable business magazine will publish and promote companies here in the UAE. The magazine also provides deep insights on the SME business, tourism, latest technological trends and corporate lifestyle in Ras Al Khaimah and all over the UAE.

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www.robustrak.com

P.O. Box 61450, Dubai, United Arab Emirates Tel: +971 4 881 8288, Fax: +971 4 881 9157 Email: AFL.relocations@alfuttaim.ae

2020 READY

www.aflogistics.com

Robust RAK MARCH — APRIL 2016

PERSONALITY

The Power of Personal Positioning

People today are looking for other people who they can trust and feel connected to. They want to feel that you have something that they either won’t find anywhere else or don’t want to look for anywhere else because they want to do business only with you. So how to unlock your own expertise so that others value what you do?

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O

ne of the most common questions we are asked in both business and social settings is, “So, what do you do?” Answering this question well depends on your ability to quickly assess the situation and the person you are addressing. For your response to have the right impact, it should be framed in such a way that it suits the audience, the situation and the energy levels in the room. It must also quickly and succinctly highlight your expertise in a way that ensures your audience (whether it be an audience of one or many) understands and, most importantly, values it.

Imagine this scenario. You’re at a high profile business function and there are a couple of influential

MARCH — APRIL 2016 Robust RAK

PERSONALITY decision makers in the room that you are keen to meet. Your plan is to sow the seed that could potentially develop into a business meeting some time in the future. You know that first impressions count and you’re pumped and ready to make an impact. But the moment you are introduced and asked what you do, you fall back on the same old ‘elevator pitch’ you use for everyone you meet.

Would you have made an impact? Probably not.

Never has it been more important to showcase your expertise in a way that connects and sets you apart from the rest. Why? Because times have changed.

Your customers are bombarded with alternatives and claims every day. Demonstrating your expertise has become the new competitive advantage and it is increasingly challenging to stand out in a world that is wired 24/7. People today are looking for other people they feel a connection with and who they can trust. They want to feel that you understand them and that you have something (or an idea) they either won’t find anywhere else or don’t want to look for anywhere else because they want to do business with you. So how do you become known in the marketplace as the authority in your space? The key is to connect, inspire and influence rather than ‘sell’ yourself and your ideas. This is true no matter what industry you are a part of or where in the world you operate.

Tips to position yourself so you get their attention

DO YOUR HOMEWORK Research as much as you can about the people who will be present in the room and their business interests. Pay particular attention to their business interests and their ‘pain points’ (their greatest challenges) so you know how best to present yourself and your ideas in a way that is likely to grab their attention.

CREATE INTEREST When a poet connects with an audience through a piece of writing, he or she is showing empathy towards that audience to the point where the audience can’t help but feel a sense of connection to the messages he or she is trying to convey. In essence, this is what you should be aiming to do when presenting yourself and your ideas to someone.

BE FLEXIBLE Creativity, intelligence and purpose are usually lacking from most introductions. Being flexible allows you to draw from a bank of well-rehearsed positioning scripts that cater to a variety of audiences and situations.

UNDERSTAND THE FOCUS LEVELS Sometimes your focus will be on you or on what you do and at other times it will be more on them.

So when do you use each type of focus? It depends on the situation. Generally speaking, if you’re at a social event, your address should be more personal (about you), if you’re at a networking event, you should speak more about your idea and what you do and if you’re in a prospect’s boardroom or facing an employee, your focus should be mostly on them (the benefits - what’s in it for them).

MAKE IT CLEAR THAT YOU ARE MORE THAN JUST ANOTHER ‘EXPERT’ When you visit a doctor you are confident that you are seeing a person who brings many years of study and experience in their field to the table. You entrust your personal wellbeing into their care because you recognise doctors as experts in their field. Indeed experts surround us in all facets of our lives. But to bring about true innovative change in any field, and more importantly, to commercialise your ideas, being a subject matter expert is only the beginning.

The goal is to become known as the subject matter authority. What’s the difference? As an expert, you know something. But as an authority, you are known for knowing something. There is a distinct and important difference, especially when you consider that everyone is vying to be the best and claiming to be ‘the expert’.

WHEN SPEAKING ABOUT YOURSELF, LET YOUR PASSION SHINE As long as you’re directing your pitch to someone who’s interested, enthusiasm is contagious. Don’t just talk about what you do; talk about what lights you up, what you’re passionate about, what you believe in.

USE ANALOGIES AND EXAMPLES Analogies are particularly useful when you’re introducing a new idea or concept. Because it’s foreign to them, using an analogy (“It’s like…”) will help the person you’re speaking to make a connection. Examples and case studies are especially useful to qualify what you’re talking about. For instance you might give an example of how you’ve helped someone else with your idea, focusing on the positive impact your idea had on that person and their business.

HIGHLIGHT YOUR POINT OF DIFFERENCE This is especially important when you’re pitching something that the masses are also doing. Think outside the box when it comes to showcasing your uniqueness. For instance, if you’re a lawyer (amongst a mass of lawyers in your part of the world), think of something that stands you apart from the rest.

Perhaps you can speak the local language in a country dominated by expats. Or you specialise in a particular type of law that you know will be of interest to the person you are addressing.

In today’s competitive commercial landscape where every professional is looking to innovate, it really does pay to play the positioning game.

Prakash ‘PK’ Menon is one of the most influential leadership, retail and supply chain and logistics authorities.

www.robustrak.com

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Robust RAK MARCH — APRIL 2016

FINANCING

Insurance:

A source of capital?

We look at how SME businesses can use insurance as a part of their approach to properly financing their operations while at the same time increasing the possibility that financiers will be prepared to provide capital for growth.

I

nsurance is one of those aspects of business that almost everyone recognises the need to purchase but more often than not feel it is something that can be put off until tomorrow or purchased at the cheapest price because it is fulfilling a regulatory requirement.

However, if that approach is adopted, owners, financiers and investors will have accepted that they might lose an income earning asset due to a nontrading event, for which they will need to fund a replacement. Even if this is not understood, these individuals may only be prepared to advance limited funds because they are uncertain about the ability of the business to repay the amount lent.

I was in charge of insurance arrangements for large companies, which included two FTSE 200 companies in the UK together with The Jumeirah Group, Dubai Holding and ADNEC in the UAE. During this time significant insurance claims were made following a loss of an asset due to an insurable risk and these were paid out in full enabling the businesses to trade normally during what were very difficult times.

Therefore for me, insurance has played a critical part in ensuring that capital was made available at a time it was most needed.

PRINCIPALS OF INSURANCE The principal behind most reputable insurance policies is to put the policy holder back to the position it was the moment before an insurable event happened. An insurable event is one that typically is not controllable by the beneficiary such as a fire or storm.

The development of the insurance market in London in the 17th Century was one of the principal reasons why the industrial revolution was such a success because it encouraged financiers to fund projects as it removed the fear of losing their investment following the loss of an insured asset such as a ship or factory. Insurance proceeds were therefore seen as a way investors could at least recover their investment at a time when the business was not in a position to repay them.

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WHAT DO BUSINESS INSURANCES COVER? Business insurance can generally be divided into two areas. First, insurances relating to the loss of an asset and second insurances relating to a claim from a third party against the business. Whichever area is covered an insurance policy will only meet a claim following the occurrence of an insurable event.

Insurable events occur in certain circumstances.

The event must create a definite loss which means that the loss takes place at a known time, known place and from a known cause. In addition, the event causing the loss must normally be outside the control of the beneficiary. The financial effects on the business from the results of such a loss should be large enough to make it difficult to finance using internal resources Therefore as a sweeping generalisation, asset (or property) insurance is of most use where a business operates out of a property or uses trucks or ships to transport their goods. While liability insurance is used in circumstances where third parties rely on the skills of the business when using their products or services and they are likely to suffer financially if those skills are poorly executed by the provider.

THINKING ABOUT INSURANCE AS A SOURCE OF CAPITAL Today, generally insurance is often seen as an unnecessary expense or it is purchased as a compliance requirement. In addition, because most of the experiences with the insurance industry are with the purchase of domestic policies such as car or home insurance arrangement where the cover meets regulatory requirements, price has become the most important aspect.

However, for most trading businesses that have got past the start-up phase, they will have a lot of their revenues dependent on the use of a property and the loss of that asset and the contents due to a fire would be very difficult to replace without having to obtain additional finance.

In these circumstances, it is often difficult to raise this amount of money because monies have already been borrowed against the use of that asset either

MARCH — APRIL 2016 Robust RAK

FINANCING

Because the timing of an insurable event is uncertain, it would seem sensible that some consideration is given when buying the insurance policy as to whether the company has the necessary capital to make the payment of a claim in a timely fashion. through a mortgage or for the original purchase of the stock and the lenders will look for repayment prospects before considering making further loans.

Therefore, at a time of crises the capital markets can become locked to the business thereby threatening its survival.

Having in place the right insurances will provide a reliable source of capital to the business. Because the timing of an insurable event is uncertain, it would seem sensible that some consideration is given when buying the insurance policy as to whether the company has the necessary capital to make the payment of a claim in a timely fashion. Therefore evaluating an insurance company in the same way as normal sources of finance is a very important action to take.

OTHER BENEFITS PROVIDED BY INSURANCE Insurance is used to finance losses arising out of an insurable risk. Therefore as an industry, insurance companies understand those risks better than individual businesses. Finding the correct broker and insurance partner, helps businesses put in place cost effective controls that can reduce the risk of an insurance event.

For example the fixing of a lightning conductor on a tall building can prevent damage to the building from a lightning strike. For those that do not think it will happen to them, there are numerous pictures of lightening striking the Burj Al Arab.

Furthermore, having a reputable insurance policy in place gives confidence to third party financiers that their investment can be secured in the event of a loss and that the owners are serious about looking after their assets. This helps them in having confidence about ensuring the repayment of the monies, which is the single most important goal of an investment partner.

Simon Hodges is a Chartered Secretary and Member of the Institute of Chartered Secretaries and Administrators, the globally recognized and professional body for governance professionals. He has 30 years of experience at Board level working for international publicly traded and privately held companies headquartered in Abu Dhabi, Dubai, The United Kingdom and Hong Kong.

www.robustrak.com

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Robust RAK MARCH — APRIL 2016

MARKETING MIX

Instagram: An SME platform Whilst the fundamentals of marketing remain the same, the social media landscape changes and evolves constantly. Hence, small businesses need to step up their social marketing presence, get ahead of the trends and anticipate where their next big customer connection opportunity may be.

TishTash shares a few Instagram tips to get you ready to post, hashtag and engage like a pro.

S

ocial media platforms continue to evolve, because, as users, we continue to demand an enhanced social experience - one that offers more visual content, a spontaneous flow, immediate connectivity and engagement.

Today, Instagram is that platform.

For one, Instagram is the fastest growing social networking site - it has reached 300 million monthly active users, who share amongst themselves some 70 million photos and videos on a daily basis, which clearly speaks to the power of visual marketing in a mobile web world.

Instagram also has the youngest user base: 41% of the users are 16 to 24 years old, and 35%, 25 to 34 years old. It is quite widespread in our region – 34% of users are based in the Middle East and Africa (Latin America accounts for 33% and North America for 25%). And whilst the most followed Instagram account is @kimkardashian (over 25 million followers), there are many businesses – specifically retail, F&B, hospitality, design and technology - who rallied millions of followers, such as Nike, Adidas, Zara, Prada, Dior, Gucci, Starbucks, GoPro, Ben and Jerry’s, Dunkin’ Donuts, Intel and Microsoft. All the more reason for small businesses to take to Instagram and use it to their advantage.

Some small business owners have recognized the potential in Instagram. Take Aly Rahimtoola, founder of UAE-grown best-selling skincare brand Herbline Essentials. His company has employed Twitter and Facebook, but because of the visual nature of the business – Herbline Essentials is an all-natural beauty brand – it made perfect sense to be on Instagram. Moreover, Aly thinks that in the near future, Instagram has the potential to become a retail hotspot. So, his aim with using Instagram is not only to raise brand awareness, and engage in a more visual manner with followers, but harness a powerful sales driver.

Sounds like something that is worth exploring!

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MARCH — APRIL 2016 Robust RAK

MARKETING MIX

So, here are a few tips on how to create compelling content, use hashtags, connect directly with your potential customers, and drive conversation and even sales.

TELL A STORY When you think about the type of content you would like to post, keep in mind the story of your brand.

Instagram is a truly powerful tool that allows you to tell the story of your brand visually, simply by sharing photos and 15sec videos with your targeted audience. These are not mere photos and videos that you post, these are brand messages. So, think about story arcs. The photos you share can be grouped as a series to show a theme, a progression or a transformation.

You could also use a collage made of several photos that, when combined into a single image, allow you not only to share more content with each post, but also tell and make your brand message better and clearer.

CREATE YOUR OWN STYLE. As content is at the core of your brand story, good quality pictures make all the difference. First, learn how to take better pictures. This doesn’t mean that you need to buy a DSLR camera and enroll in a photography course (though it would pay off). For starters, try to get the most of your smartphone. If you have an iPhone or a Samsung Galaxy, chances are the cameras in these phones will do the job. Equally important is to know how to use filters and editing

apps to improve your photos, and create a signature style.

Instagram offers a range of image filters to choose from, that allow you to make changes in color and saturation (e.g. you can change a photo to monochrome with ‘inkwell’, or make it more vibrant with ‘hefe’). Later on, if you’d like to add frames, text, and effects to your photos, you can find a bevy of free online photo editing apps, such as PicMonkey, Color Splash, Lumie or Pixlr, that will help you achieve the style you want.

As for the subject matter of the photos you post, aim to strike a balance between product or business specific content, and photos that showcase a lifestyle and reinforce your brand’s persona.

USE HASHTAGS. Instagram has enabled brands and businesses to create a visual conversation with their target audience. In addition to photos and videos, another important Instagram feature for engaging with people is the ‘hashtag’. The hashtag is similar to a ‘cue’ you can use to follow conversations within your sector, and find out what people say about your business or products; it helps you look for other businesses or customers with similar interests, or find influencers; and lastly it helps you grow your Instagram following.

Before posting any new content, think about the best words to describe it and reference those words on Instagram to see which hashtags are most popular and relevant, and, hence, likely to drive the most awareness and engagement for your posts. www.robustrak.com

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We work as a team to provide the required synergy that exceeds our customer's expectation. With expert lawyers who thoroughly comprehend the legal practice.

We ensure satisfactory resolutions and sound legal advise. Our superior practices are implemented in accordance with the local regulations. We pride ourselves in our quality cost effective and timely results.

PRACTICE AREAS: • Commercial Laws • Property and Real Estate Laws • Labour Laws & Employment disputes • Litigation and Arbitration • Civil disputes • Banking and Finance • Criminal laws • Company Formations & Incorporations • Constructions laws disputes between Employer and Contractor • Civil Status Law & Will Formatting • Debt Recovery

www.awsuwaidi-advocates.com

Sales l Leasing l Management

CONTACT US: Dubai, Office No. 2603 & No. 2602 Citadel Tower, Business Bay Ph: 00971-4-554 76 35, Fax: 00971-4-554 76 24 P.O Box: 96070 Dubai, UAE E-mail: info@awsuwaidi-advocates.com

Call: + 971 4 399 4937 w w w.exclusive -links.com

“Exclusive Links are excited to announce the set up of their Commercial division to compliment our other Sales, Leasing and Property Management services. Offering commercial properties for sale and rent please contact our Commercial Manager to discuss your requirements or if you need professional representation in the market.

“

Gary Walsh Commercial Manager m +971(0)50 384 6882 broker no: 34741 email: gary@exclusive-links.com

Approved Real Estate Agent Registration No. 708 Follow us on :

/ ELREDubai

S U C C E S S I S A D E S T I N AT I O N

H AV E YO U A R R I V E D ?

CORPORATE

gadgets

Robust RAK MARCH — APRIL 2016

CORPORATE LIFESTYLE

The wedding industry saw the debut of La Marquise’s new fashion forward ‘Bridal Collection’ this year. These diamond encrusted necklaces have adorned runways at Milan Fashion Week 2015 and the chic chandelier earrings have returned, but nothing compares to its carefully orchestrated bridal sets.

La Marquise’s bespoke bridal sets – each unique in design and each piece one of a kind – are a match made in heaven. Clean lines and brilliant shine unite in this season’s most arresting jewellery collection made with the highest craftsmanship this region has seen and the finest stones. Be it Princess, Matinee or Opera; a harmonious pairing of necklace and earrings, or the complete set of four including a bracelet and statement ring; they shape a dream into a reality. La Marquise’s innovative Bridal Concierge caters to a bride’s every want to ensure the radiant look on the special day.

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MARCH — APRIL 2016 Robust RAK

CORPORATE LIFESTYLE

Seiko Prospex Collection: for true adventure sports The Seiko Prospex Collection of truly exceptional sports watches is a triumph of fine engineering by the Japanese watchmaking giant. The sports chronographs are made for the true adventurer and sports lover and is available at select points of sale across the region.

True sports watches have always presented the greatest challenges for the watchmaker, whether the watches were meant for adventures on land, sea or sky. The master watchmakers at Seiko are experts in the craft and have perfected the science behind them over the years.

The Prospex Collection is the epitome of that mastery, a process that began with Seiko's first diving watch in 1965.

Seiko pioneered several features in diver’s watches that are now widely accepted as setting the global standard, including the ‘accordion’ or corrugated style strap, the wide arrow-shaped hands for extra legibility and the two-piece case construction for added security. Now, Seiko Prospex brings together all its sports watch expertise in one collection.

Adventure sports know no boundaries. Whether for use on the sea, on land or in the sky, the adventure sports enthusiast will find the Prospex watch that meets the challenge and delivers precision and reliability in even the most adverse conditions.

The collection is broad and incorporates several Seiko technologies - kinetic, solar, quartz and mechanical - with models starting at modest levels and going up progressively to top of the range, 1,000 metre saturation diving watches.

www.robustrak.com

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Robust RAK MARCH — APRIL 2016

CORPORATE LIFESTYLE

Reminiscence by Lootah Perfumes • Lootah Perfumes unveils its everlasting fragrance, Reminiscence • An oriental perfume of with spicy, wooden undertones, Lootah’s newest perfumes offer a mist of dreamy decadence to the wearer, for him and her.

• This perfume is available at Lootah stores in Jumeirah centre Burjuman, Al Ettihad Mall al khawaneej, Al salam stores- Wafi Mall, Abudhabi Mall and Al Ain Mall.

Lootah Perfumes, a luxurious perfumery with oriental and Arabic scents famous for its pure Ouds, presents its vivid new Eau de Parfum, Reminiscence. The perfume is an oriental scent with a woody, spicy appeal available both for him and for her.

Available in beautiful calligraphic packaging and a sensual, frosted bottle inlaid with gold accents, Reminiscence is an ode to the elaborate and fond journey down the labyrinth of time when life was a beautiful adventure. An intense fragrance that inspires strong emotions, Reminiscence is a tale woven into an Eau de Parfum.

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MARCH — APRIL 2016 Robust RAK

CORPORATE LIFESTYLE

Cayenne Turbo S – fusion

of exclusivity and speed

The new Cayenne Turbo S is now on display at Porsche Centre Dubai, Al Nabooda Automobiles LLC. The top model of the sporty SUV series features a re-engineered 4.8-liter V8 biturbo engine which delivers 570 hp and 800 Nm of torque. Introduced earlier this year at the North American International Auto Show in Detroit, its debut in Dubai is sure to impress Porsche lovers and those who appreciate the very best in German engineering.

Vijay Rao, General Manager of Porsche Centre Dubai, said: “We have eagerly anticipated the arrival of the new Cayenne Turbo S since we launched the latest generation of the model last year at our new showroom. As the top performer of the range, the new Turbo S boasts segment-leading performance credentials. It’s a sporty SUV like no other and has always been a popular choice for our customers in Dubai and the Northern Emirates.”

Accelerating from zero to 100 km/h in 4.1 seconds, the new Cayenne Turbo S is 0.4 seconds faster than its predecessor. Its top speed is now 284 km/h, with a responsive biturbo engine which is a result of the turbochargers now being housed directly in the exhaust manifolds. The high-performance engine also offers 20 hp more and 50 Nm more torque than the previous engine. All the performance improvements result in the Cayenne Turbo S completing a lap of the North Loop of the Nürburgring in 7:59.74 minutes, setting a new record for SUVs. Underscoring its position as the top athlete in the range, the Cayenne Turbo S features standard Porsche Composite Ceramic Brakes (PCCB) which include 420

mm front brake discs and for the first time, ten-piston calipers. The rear brakes have 370 mm discs and fourpiston calipers. The active roll stabilization system and Porsche Dynamic Chassis Control (PDCC) proactively reduces side tilt early on when driving through curves.

Porsche Torque Vectoring Plus (PTV Plus) increases dynamic handling and stability by making specific brake interventions at the right or left rear wheel – this noticeably improves steering into curves and steering precision.

The active hang-on all-wheel drive system Porsche Traction Management (PTM) permanently drives the rear wheels, while offering fully variable power distribution to the front wheels. All these systems combined result in excellent driving dynamics, ample traction, as well as high level of agility at any speed.

Standard features of the Cayenne Turbo S reflect the top level status of this model. They include 21inch wheels in distinctive 911 Turbo design with black painted edges, LED headlights including Porsche Dynamic Light System Plus (PDLS Plus), full-leather interior with Porsche logo embossed on all head restraints as well as interior carbon accents. Interior styling in a black/crème colour combination makes its debut in the Cayenne Turbo S. Exterior visual accents include air inlet surrounds painted in high-gloss black, the undersides of the door mirrors in the same colour and the roof spoiler and wheel arch mouldings in car colour. A sport exhaust system is available as an option in combination with a sound symposer, which optimally transmits the V8 sound experience into the interior. www.robustrak.com

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Business Software that Inspires Epicor Software Corporation is a global leader delivering inspired business software solutions to the manufacturing, distribution, retail, and services industries.

Epicor business software solutions help customers effectively and efficiently automate and streamline their essential and industry-specific business functions, inspiring them to focus on their core, revenue-generating activities, deliver value to their own customers, and grow.

Inspired Businesses turn to Epicor Software.

To learn more: +971.4.3913730 marketing.mena@epicor.com www.epicor.com/mena

Business Inspired™

20,000 customers

| 40 years of experience

|

150 countries

|

30 languages

|

4,000 employees

Copyright Š 2012 Epicor Software Corporation or a subsidiary or affiliate thereof.

Epicor and the Epicor logo are registered trademarks and Business Inspired is a trademark of Epicor Software Corporation

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