E-COMMERCE AND THE DIGITAL ECONOMY 2017 / 2018 DEC/JAN
CONNECTING BUSINESSES ACROSS ASIA AND BEYOND anz.com/institutional
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A MESSAGE FROM THE
PRESIDENT
BOARD MEMBERS
Greetings! How quickly things change! If I gave someone a digital response a decade ago it would have roughly translated as “request declined!”. Today the term “digital response” has a very different meaning. This edition of ‘Access Asia’ covers e-commerce and the digital economy, with a focus on the ASEAN region. The theme is topical given Singapore’s focus on e-commerce and the digital economy when it takes on the ASEAN Chairmanship in 2018. In this edition you will read about the digital economy in ASEAN and the significant opportunities that will arise from the region’s growing connectivity, emerging middle class, and increasing consumer demand. Also inside is a snapshot of digital connectivity in Australia, which is an interesting contrast to the ASEAN region!
Ian Cummin PRESIDENT BlueScope
Adam Lyle VICE PRESIDENT Padang & Co.
John Dick HONORARY SECRETARY Dentons Rodyk
Executive Chairman of Padang & Co, and AustCham Vice President Adam Lyle shares his views on the challenges, opportunities and the future of e-commerce in ASEAN, which is home to the fastest growing internet region in the world. There are several Australian companies that have already taken advantage of digital transformation and innovation in ASEAN, including Telstra, CEC Systems and Zed Technologies. Enclosed in this edition are case studies on these three companies. Law firm Dentons Rodyk recently presented a fascinating business briefing to AustCham members on e-commerce, and has written an informative article about challenges and innovations relating to intelligent investment in an e-commerce company.
Sean Straton
You will also read an overview of the recently upgraded Singapore-Australia Free Trade Agreement (SAFTA) which came into force on 1 December. The upgraded SAFTA will make it easier for individuals and companies to conduct business between both countries. I am delighted to see a resurgence of interest in our Chamber – almost 200 new members so far this year. I’m hoping to see many new members at our signature event and a highlight of Singapore’s social calendar on Saturday 27th January – the ANZ Australia Day Ball. Don’t miss this one, time’s running out so book your tickets.
Philip Forrest
HONORARY TREASURER UBS
Guy Scott Cumming Corporation
Nigel Cummings Sliding Doors Entertainment
Honorary Life Member
Freya Hone Commonwealth Bank of Australia
Benjamin Tan But wait….. there’s more! Our major business events program for 2018 kicks off with the Honourable Christopher Pyne, Minister for Defence Industry (and the keeper of truck loads of money to significantly upgrade Australia’s defence capability). Minister Pyne will join us for lunch on Thursday 18th January. If you want to learn something about the opportunities for your business, buy a ticket.
Qantas Airways
Derek MacKenzie designphase dba
David Campbell In February we welcome Alan Joyce, CEO of Qantas – an AustCham member and Platinum Sponsor. Lunch on the sixth of February. Save the date. Finally, to you and your family, partners and friends, from the Board and Staff here at AustCham, have a great Festive Season! We’ll see you in the New Year.
Australian Trade and Investment Commission Singapore
Fraser Thompson AlphaBeta
Ian Cummin President
Annette Tilbrook AT Asia Advisory Pte Ltd
PLATINUM SPONSORS
SILVER SPONSORS
BRONZE SPONSORS
A MESSAGE FROM THE
ACTING EXECUTIVE DIRECTOR CONTENTS 6
INNOVATION & DIGITAL TRANSFORMATION IN ASEAN
8
SINGAPORE IS ASEAN'S E-COMMERCE LEADER, BUT CHANGE IS ON THE WAY
9
CHALLENGES TO ASEAN E-COMMERCE
10
SECURING BUSINESS FOR THE FUTURE
12
CASE STUDIES: INNOVATION & DIGITAL TRANSFORMATION
14
THE ROLE OF DIGITAL TECHNOLOGY IN MOBILITY
15
AUSTRALIA'S DIGITAL READINESS
16
INVESTING INTELLIGENTLY IN AN E-COMMERCE COMPANY: CHALLENGES & POTENTIAL INNOVATIONS
18
SINGAPORE - AUSTRALIA FREE TRADE AGREEMENT
20
OUT & ABOUT
24
NEW MEMBERS
28
MEMBERSHIP CARD OFFERS
30
NEWSFLASH
Dear members, Welcome to the December / January edition of Access Asia magazine. This edition covers e-commerce and the digital economy, with a focus on the ASEAN region. E-commerce and the digital economy are topical, given Singapore will have a focus on these areas during their 2018 ASEAN Chairmanship. Inside this edition, you will learn more about increased digital connectivity across the ASEAN region, as written by AustCham Vice-President and Chairman of Padang & Co, Adam Lyle. Along with increased connectivity across the region will come many opportunities, as well as challenges, for businesses seeking to take advantage of this growing area. There are many Australian businesses achieving success across the ASEAN region already, and we have profiled three of them; Telstra, CEC Systems, and Zed Technologies. Law firm Dentons Rodyk shares their expertise in regulatory matters and 'Investing intelligently in an e-commerce company'. International moving company Allied Pickfords also shares how the use of technology has transformed the process of moving, which has certainly changed significantly with the adoption of digital tools. If you've not yet read about the 1 December upgrade to the Singapore-Australia Free Trade Agreement, you may be interested in reading the overview enclosed in this issue, which covers a range of areas such as mobility of business persons, government procurement, recognition of university degrees, and so on. Your business may benefit from these changes, so take a look at the dfat.gov.au website for further details. As we have now entered the new year, we are busy preparing for our first business event of the year. This will be with the Australian Minister for Defence Industry, the Hon. Christopher Pyne MP. This will be followed shortly after by the ANZ Australia Day Ball, which is the biggest and best way to celebrate Australia Day in Singapore! In February, we will host a lunch with Qantas CEO Alan Joyce, which we hope to see you at. My time at AustCham will come to an end on 31 January, as Kate Baldock returns. It has been a pleasure to get to many of you, and all the best for 2018. Elissa Maloney Acting Executive Director
INNOVATION & DIGITAL TRANSFORMATION IN ASEAN
E-ASEAN Framework Agreement
Regional Cooperation
ASEAN AEC 2025 BLUEPRINT
AEC ICT MASTER PLAN 2020
2020
ASEAN’S MASTER PLAN 6 ACCESSASIA | WWW.AUSTCHAM.ORG.SG
An accessible, inclusive and affordable digital economy — Information and Communications Technology (ICT) will be used to support digital inclusion of communities across the region.
Deployment of next-generation ICT as an enabler of growth.
INNOVATION & DIGITAL TRANSFORMATION IN ASEAN Since its founding, ASEAN’s share of global gross domestic product (GDP) has nearly doubled from 3.3 percent in 1967, to 6.2 percent in 2016. The collective group of ten ASEAN member states represents the sixth largest economy in the world, with a combined GDP of US$2.55 trillion. The ASEAN region is home to 636 million people, making it the third largest population in the world.
AEC 2015 Blueprint
ASEAN’s citizens are predominantly young, with 70% under the age of 40. They are increasingly middle class, dynamic and tech-savvy. Southeast Asia ranks third in the global number of mobile subscribers and fourth in internet users. This is growing at a rapid rate, with nearly four million new users to come online every month for the next five years. This will establish a base of 480 million by 2020 (up from 260 million now). A 2016 study by Google and Temasek suggested that a collective group of six ASEAN economies (Indonesia, Malaysia, Singapore, the Philippines, Thailand and Vietnam) will become the fastest growing internet region in the world. Despite the increased connectivity across ASEAN, consumers are not spending much online. However, this will increase in the next decade or so, driven by consumers demand for electronics, clothing, household goods, groceries, and increased travel within the region. By 2025, the region is expected to become one of the top five digital economies globally. All economies in ASEAN stand to benefit from this, particularly Indonesia and Thailand. Businesses positioned within ASEAN will be well placed to take advantage of opportunities arising from the region's increased connectivity and consumer demand. Many Australian businesses are already successfully doing business across the region. To capitalise on the benefits of digital transformation, ASEAN governments are investing heavily to create a digitally-enabled region that is secure, sustainable and transformative. ASEAN ICT Master Plan 2020 will support this transformation and enable businesses to operate more effectively and efficiently across ASEAN.
Sustainable development through smart city technologies.
ICT supporting a single regional market to facilitate integration and lower business costs.
Secure digital marketplaces and safe online communities to facilitate and promote regional digital trade.
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SINGAPORE IS ASEAN’S E-COMMERCE LEADER, BUT CHANGE IS ON THE WAY ADAM LYLE VICE PRESIDENT OF AUSTCHAM EXECUTIVE CHAIRMAN OF PADANG & CO PTE LTD
Commentary on the state of business often borrows Charles Dicken’s famous opening, “It was the best of times, it was the worst of times”. Regarding e-commerce in ASEAN, it is only the best of times as we look to 2018 and beyond. As Singapore takes over Chair of ASEAN in 2018, there will be a focus on strengthening e-commerce and the digital economy across the region. According to a 2016 report by Google and Temasek, e-commerce still accounts for a small percentage of overall retail sales, which in 2016 represented $5.5 billion. By 2025 it is predicted to hit $88 billion which will represent 6 percent of all retail sales. Singapore currently leads the region, supported by its high internet speed and penetration, logistics expertise and increasing cyber security focus. Some wonder why it is not higher given the infrastructure and high penetration of credit cards. Despite Orchard Road facing challenges, excursions to the mall are still an important part of Singapore life. As delivery services continue to improve and artificial intelligence better predicts what we want, online sales are predicted to increase. Indonesia is predicted to take the lead by 2025 with around 8 percent of a significantly larger market. Singapore’s market has seen a lot of competition in this space, with Alibaba investing a further US$1 billion in Lazada to increase its ownership to 83 percent. The long-awaited arrival of Amazon Prime came earlier this year – the ultimate compliment for Singapore – ahead of expected regional expansion. Southeast Asia’s 260 million internet users make it the fourth largest internet market in the world. The region is adding users at a staggering 3.8 million per month making it the fastest growing market in the world. 8 ACCESSASIA | WWW.AUSTCHAM.ORG.SG
Already, users in Southeast Asia are incredibly mobile friendly, with 90 percent accessing the internet by smartphones thanks to their increasing affordability. A ‘leapfrogging’ ability has been demonstrated across the region with many skipping desktops/ laptops as their connected device and opting for smartphones instead. When international mobile network operators arrived in Myanmar in 2014, they helped to drive the fastest rollout of mobile phones in history; by mid-2015, around 30 million sim cards were in use. In addition, users across the region utilise social networks more than the west to inform their purchases and transact. Online transactions are driven by a share of search – how consumers find you – and how the big brands learn more about how consumers search and buy so they better understand what they want, when, and how they want it. Given the diversity of the cultures and different levels of maturity across Southeast Asia, superior data analytics capabilities will drive leadership positions.
"Given the diversity of the cultures and different levels of maturity across Southeast Asia, superior data analytics capabilities will drive leadership positions." Singapore’s e-commerce and overall digitisation experience will be highly relevant as the incoming Chair of ASEAN in 2018, with dual themes of 'resilience' and 'innovation'. Two of the focus areas outlined by Foreign Minister Dr Vivian Balakrishnan recently include the establishment of an ASEAN Smart Cities Network to connect people and economies seamlessly, with obvious benefits for innovation, and a focus on cybersecurity, because without it smart cities and e-commerce will not thrive.
CHALLENGES TO ASEAN E-COMMERCE There are several key factors which have been identified as challenges to e-commerce growth in the ASEAN region. However, the solutions to these problems provide enormous opportunities. BY ADAM LYLE
INTERNET Low internet penetration rates in some countries present an obvious barrier. Although Thailand, Singapore and Malaysia are all around 80 percent penetration, Cambodia, Myanmar and Laos still sit below 30 percent. However, the entire region is set for 14% compound annual growth in internet users between 2015 and 2020, with Indonesia’s predicted growth rate of 19 percent making it the fastest-growing nation of internet users in the world. In comparison, China, the world’s largest e-commerce market, will grow at around 4 percent. With the exception of Singapore, ASEAN countries also have notoriously slow internet speeds; another factor which hardly helps the online shopping experience. While many governments are working to improve this, there are certain logistical barriers which may make progress just as slow as page load times.
PAYMENTS The lack of online payment methods presents a big barrier; particularly in countries like Indonesia where only 30 percent of the population have a bank account and just 5 percent have credit cards. Various e-wallet solutions are springing up but a clear market leader is yet to emerge. Although many e-commerce sites do offer cash-on-delivery as a payment option, this increases risk and operating costs for those companies. It also creates further complications with the delivery process.
CONSUMER TRUST LOGISTICS Significant infrastructure investment will be required to bring road and rail networks in many ASEAN countries up to the standards required for efficient delivery of online orders.
Consumers in Southeast Asia have greater-than-average concerns when it comes to sharing financial data online, and this is made worse by high levels of fraud – particularly in Malaysia, the Philippines and Indonesia.
Indonesia and the Philippines face an additional challenge on this front since many deliveries have to be transported between islands.
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SECURING BUSINESS FOR THE FUTURE BY ADAM LYLE
As internet speeds and coverage increase along with smartphone ownership, so will the desire to purchase. The digitisation of ASEAN economies will enable improved opportunities for a new generation of digital focused employees. Yes, automation will replace routine jobs, but new jobs will be created. I firmly believe that the needs of cyber security will enable “cyber diplomacy” across ASEAN for which Australia and Singapore are well placed given both their experience and commitment domestically and internationally as witnessed by the Singapore / Australia Memorandum of Understanding on cybersecurity cooperation signed during Prime Minister Turnbull’s visit in 2017. When looking for the opportunities for Australian business with the growth of e-commerce across the region we should remember the early days of the Australian gold rush. It wasn’t the miners who always made the money, but those that supplied them with food and basic supplies to ply their trade. The battle ground for e-commerce will be fought by the current local incumbents such as Lazada, Tokopedia and Alibaba in its various guises and the international players such as Amazon. How this will play out is not easy to predict. Digitisation will provide a substantial “fly-wheel” effect whereby increased speeds and coverage, access to payment options and improved last mile delivery will encourage purchase which in turn will develop opportunities – data analysis, e-commerce management, infrastructure rollout, cyber education as well as many others. Add to the mix the Regional Comprehensive Economic Partnership unlocking cross border restrictions, smoothing trade and e–commerce and digital transformation, which will indeed drive tremendous economic growth for all businesses.
with resultant benefits for all citizens in terms of increased availability of services. Building and improving digital infrastructure, expanding e-commerce is just the beginning. Paraphrasing Singaporean Futurist Charlie Ang, "applying a 3.0 Mindset in a linear fashion to predict Industry 4.0 just won’t cut it. We have to be more disruptive in our view of what the future might look like and develop the appropriate strategies to take advantage of this new world." Yes, there is a lot of uncertainty, but it is up to us to ensure digital transformation is inclusive and comprehensive in application so that benefits are shared by all citizens and business alike. The ASEAN ICT Plan 2020 and ASEAN Economic Community Blueprint 2025 are in place. Singapore is committed “to tap on opportunities from global megatrends, such as the digital economy and trade facilitation, to help businesses expand their economic space more effectively” as Minister Lim Hng Kiang explained at the Singapore Business Federation's ASEAN Conference 2017 earlier this year. This must all be underpinned by digital standards and cybersecurity protocols to manage and safeguard the explosive increased volume of traffic. For Singapore and Australia with their focus on the Comprehensive Strategic Partnership in 2018, there are significant opportunities to support, contribute and realise opportunities from the digital transformation of ASEAN and the growth in e-commerce. Indeed, this will be the “best of times”.
Another benefit not often thought about in the context of e-commerce is improved governance. Digitisation will also provide a level of accountability and traceability that will provide transparency, therefore enabling improved governance and providing tools for all governments to reduce corruption – one of the great impediments in the region. Efficiency and reduction of friction in transactions will enable committed governments to reduce corruption and bribery
" WE HAVE TO BE MORE DISRUPTIVE IN OUR VIEW OF WHAT THE FUTURE MIGHT LOOK LIKE AND DEVELOP THE APPROPRIATE STRATEGIES TO TAKE ADVANTAGE OF THIS NEW WORLD "
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DIGITAL ECONOMY & E-COMMERCE
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SMART STEPS FROM AGE 18 MONTHS SUZUKI VIOLIN FROM AGE 3, CELLO FROM AGE 5
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INNOVATION & DIGITAL TRANSFORMATION
INNOVATION & DIGITAL TRANSFORMATION
TELSTRA JOINT VENTURE UNLOCKING INDONESIA’S MARKET POTENTIAL FOR TELSTRA With more than 30 years’ experience in Southeast Asia, Telstra is building a formidable portfolio of acquisitions, joint ventures and accelerators in the region. Telstra’s services to business and government clients in ASEAN range from voice and data to network management, security and unified communications. Indonesia is a priority market for the Australian telecommunications company. When considering how to access the Indonesian market, Telstra devised a two-pronged strategy: work with a local partner and focus on enterprise solutions for Indonesian corporate accounts. In 2014, Telkom Indonesia and Telstra agreed to create the PT Teltranet Aplikasi Solusi (telkomtelstra) joint venture. By early September 2017, telkomtelstra had employed 134 team members – including 15 from Telkom Indonesia and 10 from Telstra and the remainder local hires by the joint venture. Erik Meijer, telkomtelstra President Director and Telstra Country Managing Director, Indonesia, describes Indonesia’s enterprise services market as ‘very big and untapped’. telkomtelstra is also taking a keen interest in discussions between Indonesia and Australia on cyber security cooperation, as well as market opportunities greater coordination between the two countries could present. Source: Austrade
ZED TECHNOLOGIES
CEC SYSTEMS
TO ASEAN AND BEYOND: MEDTECH SCALEUP GOES GLOBAL
CEC SYSTEMS COLLABORATES ON COLLAPSIBLE CONTAINERS
Zed Technologies was founded in 2012 by Ross Wright and Ronald Li. The medtech scaleup develops software, apps and workflow systems for storing, managing and evaluating patients’ medical images, including X-rays, MRIs, ultrasounds and other scans.
Australian industrial technology developer CEC Systems designed COLLAPSECON®, the world’s first semi-automated collapsible shipping container.
When the Melbourne-based scaleup began planning its expansion into Southeast Asia, it looked for a way to enter ASEAN markets.
COLLAPSECON enables four empty shipping container units to be collapsed and combined to form a single container to reduce handling, storage and transportation costs.
‘That was when Austrade and the Landing Pads program came to our attention,’ says Wright. In early 2017, Zed Technologies arrived in Singapore. According to Wright, Zed Technologies benefited from expert guidance on growing its customer base, introductions to local contacts and entry into key decision-making networks, not to mention a fully paid office space for 90 days. Since their time at the Landing Pad, Zed Technologies have also visited Indonesia, Malaysia and Vietnam, helping build a promising pipeline for the future.
Source: Austrade
Following CEC Systems’ acceptance into the Australian Government’s Singapore Landing Pad, the company announced an exciting new collaboration with the Singapore Institute of Manufacturing Technology (SIMTech), a research institute of the Singapore Government’s Agency for Science, Technology and Research. CEC Systems’ collaboration with SIMTech will seek to optimise the COLLAPSECON design and investigate alternative manufacturing processes such as environmentally friendly, cost-effective and lightweight materials.
Source: Austrade
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INSIGHTS
THE ROLE OF DIGITAL TECHNOLOGY IN MOBILITY ALLIED PICKFORDS
THE ROLE OF DIGITAL TECHNLOGY IN MOBILITY
One hundred years ago, the logistics of moving home would have most likely involved arranging a horse and cart then preparing a steamship manifest for a journey across the oceans. These days, international moving logistics are managed by the turning on of an iPad and the touch of a screen. Established more than 400 years ago, Allied Pickfords’ (a SIRVA company) international moving business has seen many technological advancements come and go. Computers and data systems certainly make keeping track of items and itineraries much easier, however, the latest technology is aiming to make moving easier than ever. The role of digital technology has played a massive part in helping to reduce costs and lessen the administrative burden of relocating by streamlining workflows into one centralised platform. Mobile apps mean that Allied Pickfords’ staff can access necessary information whenever and wherever they need. Detailed analysis and reporting help the business stay abreast of market trends and customer interaction with the brand.
via email; we produce paperless quotes, which are also sent by email in order to be more environmentally friendly.” All presentations that detail what each move will entail are demonstrated directly to the customer on iPads at any location. “With our corporate clients, we use electronic RFPs. This way, clients can provide us with all information electronically when they have assignees to move around the world. We have fast access to any necessary requirements, special requests, itineraries and so forth.”
TECHNOLOGY PLAYS ITS PART IN MOVING
Allied Pickfords has proven its dedication to advancements in technology by developing an app that automatically performs in-home surveys. This helps reduce the risk of items being missed as they are entered on the spot. Outmoded transportation manifests may have been jotted down on paper then uploaded later onto a computer, with plenty of room for error. We have our own app, which automatically calculates the volume of goods to be moved,” says the representative. “This means, when we conduct in-home surveys to identify any special requirements for the volume of goods that need to be moved, such as unusual sizes or extra-valuable goods, they’re all easily performed on iPads.” Allied Pickfords uses GlobalCom online shipping monitoring for real-time location tracking. The system also provides arrival updates and allows changes to contact information. This online tracking system helps alleviate stress, knowing exactly where each cargo shipment is located at every moment of the day and night.
LOOKING FORWARD TO 2018
Video surveying is a technology that is now available to help with in-home surveys.
Allied Pickfords uses strict security and control certifications to ensure data storage is compliant via corporate operating systems. The company maintains the highest level of security for both stored data and communication transmissions to maintain the safety of company and customer information.
KEEPING IT GREEN
“To be greener and help reduce our carbon footprint, Allied Pickfords’ Singapore branch no longer produces physical brochures,” says a company representative. “All our company brochures are downloadable PDFs. We also encourage our clients and staff to engage in all correspondence 14 ACCESSASIA | WWW.AUSTCHAM.ORG.SG
“We are currently trialling video surveying for our moving business,” says the representative. “What that means is that if for some reason we can’t get to a location, we can use video chat in the same way that something like FaceTime or Skype operates to assess the volume of goods. We talk the customer through the property to identify what needs to be moved, then the video app tallies it all together.” Technology allows more freedom and control of systems and leaves less room for human error. As each year passes, Allied Pickfords aligns itself with cutting edge technological developments in order to stay ahead of competitors and be able to deliver a premium product to clients all over the world.
AUSTRALIA'S DIGITAL READINESS CYBER SECURITY
94% of adults in Australia used the internet in 2016 to... • • •
CYBER SECURITY INDUSTRY
Conduct banking Pay bills Buy/sell goods or services
69% of Australians are more concerned about their online privacy than they were five years ago
nd DIGITAL nd in0EAGovernment0Development0Index OUR Adoption and use of digital technologies anks02 ustralia0ranks02 in0EAGovernment0Development0Index in0EAGovernment0Development0Index READINESS could contribute between $140 billion to $250 billion to Australia’s GDP by 2025
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INVESTING INTELLIGENTLY IN AN E-COMMERCE COMPANY: CHALLENGES & POTENTIAL INNOVATIONS GERALD SINGHAM DEPUTY MANAGING PARTNER DENTONS RODYK
GILBERT LEONG INTELLECTUAL PROPERTY & TECHNOLOGY DENTONS RODYK
By 2027, Singapore’s e-commerce market is predicted to grow five-fold – to at least US$5.4 billion (S$7.5 billion), according to a study by Google and Temasek Holdings. E-commerce markets in other parts of Asia are also poised to grow significantly – with many Asian businesses venturing out into markets of developed nations with sophisticated data privacy and consumer laws. Investors and entrepreneurs are faced with unprecedented opportunities – as well as challenges related to their e-commerce venture, including understanding: • Which factors may impact the value of an e-commerce company, especially when business models defy traditional valuation methods? • How can e-commerce companies remain compliant with laws and regulations from each of the countries in which it operates?
S. SIVANESAN SENIOR PARTNER CORPORATE DENTONS RODYK
• As more participants crowd the e-commerce market, how can e-commerce businesses innovate to continue to provide value and capture opportunities? E-commerce remains a novel area – both in business and law – but with the right guidance, there is no limit to the creative solutions that may abound.
FACTORS IMPACTING THE VALUE OF AN E-COMMERCE VENTURE E-commerce businesses can have valuations which far exceed those of traditional companies within the same industry. For example, Uber, the online transportation network company founded in 2009 is currently valued at approximately US$68 billion – around US$20 billion higher than auto giant General Motors, which has been in existence since 1908. And Uber does not even manufacture cars! Rather than traditional metrics such as historical profits and logistics costs – e-commerce companies are usually valued based on factors like sales, number of transactions, active users, “hits”, the future state of the industry, potential market size, expected growth, and sometimes an extremely optimistic revenue growth. However, e-commerce ventures are complex businesses to run – generally capital-intensive, with low profit margins – and entail compliance with laws from various jurisdictions, the handling of sensitive consumer information, and a consideration of how the venture impacts market competition in the relevant country. An e-commerce venture may therefore quickly encounter compliance issues which may significantly decrease its value.
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LEGAL COMPLIANCE NEEDS OF AN E-COMMERCE VENTURE Due to the global nature of many e-commerce ventures, compliance with laws in each of the countries it operates is crucial. For example, failing to comply with data privacy and consumer protection laws could not only impact a company’s valuation – but also lead to civil or criminal liability. Below, we highlight some salient compliance issues related to e-commerce– highlighting the importance of hiring legal counsel with a deep understanding of e-commerce compliance needs.
1. Data Privacy
When transacting online, consumers almost always share personal data such as their name, contact details, home address and payment card details. Of 194 UNCTAD member states, a total of 107 countries (of which 66 are developing or transition economies) have in place legislation to secure the capture, transmission and use of personal data. E-commerce businesses are also generally required to implement security measures to prevent unauthorised access, use and disclosure of personal data. Furthermore, customers must be informed of the purposes for which their data is being collected, and consent to the collection, use or disclosure of their personal data. Finally, it is also crucial for any e-commerce venture to implement procedures to handle data breaches which enable the business to notify customers and relevant authorities promptly and investigate and contain the breach. Because compliance requirements may differ between countries, ventures may need to adopt tailored approaches for each jurisdiction.
2. Consumer Protection
Most countries have adopted laws and regulations to protect consumers who may be at the mercy of errant traders and unethical business practices. Common concerns include the truth of online product descriptions and reviews, fairness of merchant terms of sale, and availability of recourse for late or nondelivery, product defects, or other disputes. In Singapore, for example, consumer protection laws include: • Unfair Contract Terms Act, which restricts the extent a merchant can limit or exclude liability owed to consumers; • Consumer Protection (Fair Trading) Act, which prohibits unfair trade practices, including false claims about goods/services or having overly harsh or oppressive terms of sale; and • Consumer Protection (Trade Descriptions and Safety Requirements) Act, which prohibits traders from using false trade descriptions, including in advertisements for goods Of the 194 UNCTAD member states, 97 (of which 61 are developing or transition economies) have adopted consumer protection legislation that relates to e-commerce. Likewise, a tailored approach for each jurisdiction may be necessary.
3. Competition Laws
All ASEAN member countries have enacted some form of competition legislation and have a regulator to ensure the enforcement of such legislation. Behaviour by e-commerce ventures which may impact a competitiveness analysis may include: • Price obfuscation, which may be seen as anti-competitive. This involves making it difficult for consumers to search and compare prices online, such as by advertising prices of low-quality products on a price comparison website but not making the price of higherquality upgrades easily observable; • Vertical restraints, on the other hand, may be seen as pro-competitive depending on the context. These are generally non-price-related restrictions imposed by parties on different levels of the distribution chain, and may include restrictions on selling online, submitting offers to price comparison websites, or cross-border sales. Whether an act may be considered anti-competitive requires complex analysis and professional advice from a qualified legal team, which should be sought.
SINGAPORE - AUSTRALIA FREE TRADE AGREEMENT
1 DECEMBER UPGRADE TO THE
SINGAPORE-AUSTRALIA FREE TRADE AGREEMENT OUTCOMES AT A GLANCE
The Singapore-Australia Free Trade Agreement (SAFTA), which entered into force in 2003, is Australia’s second oldest FTA. It is the central pillar of Australia’s economic relationship with Singapore, and has already delivered substantial benefits for exporters, such as complete tariff elimination, underpinning Singapore’s position as Australia’s fifth largest trading partner. The AustraliaSingapore Comprehensive Strategic Partnership, which was announced in 2015, provided the impetus to modernise SAFTA. The result is a comprehensive update, with new market access underpinned by new rules providing greater certainty for exporters of goods, services and investment. The Agreement to Amend SAFTA was signed on 13 October 2016 and entered into force on 1 December 2017.
For Services Suppliers
SAFTA’s services chapters have been comprehensively updated to better protect and promote the interests of service suppliers and governments in the 21st century. Building upon FTA best practice, these changes will reduce red tape and promote regulatory coherence.
E-commerce and telecommunications These chapters have been updated to meet better the needs of modern business. This includes commitments on the free flow of data across borders for service suppliers and investors as part of their business activity, and on not imposing customs duties on digital products. Consumers will benefit from a mechanism to promote transparent and reasonable rates for international mobile roaming services, and commitments to protect privacy and consumer rights. For Investors SAFTA’s Investment Chapter has been revised to incorporate a set of modern rules governing the treatment of investors and their investments. This includes modernising the investor-state dispute settlement (ISDS) mechanism to incorporate more explicit safeguards to protect the Government’s right to regulate in the public interest. Australia will raise the FIRB screening threshold for private Singaporean investment in non-sensitive sectors from $252 million to $1094 million, consistent with the approach taken in the TPP and North Asian FTAs.
Professional Services SAFTA will provide greater certainty for Australian lawyers and law firms operating in Singapore. Australia has locked in existing opportunities in the legal sector, including the ability for Australian lawyers to practise Singapore law and to work in international commercial arbitration. Australia will also benefit from future market reforms in Singapore’s legal sector, which will automatically become SAFTA commitments, putting Australians on an equal footing with their foreign competitors. Australia and Singapore will establish a framework to support mutual recognition of professional qualifications. Priority will be given to arrangements for engineers and accountants, with Singapore and Australia agreeing to commence negotiations on Mutual Recognition Arrangements (MRAs).
Mobility of Business Persons SAFTA will provide greater certainty to Australian and Singaporean service suppliers seeking to enter and work temporarily in each country’s market. Singapore and Australia have made commitments on work rights on a reciprocal basis. Australians will enjoy: • longer lengths of stay for independent executives, contractual service suppliers and their families (up from three months to two years) • longer lengths of stay for intra-corporate transferees and their families (up from two years to three years) • certainty on entry and length of stay for installers and servicers of machinery and equipment • access to a help desk and streamlined processes to facilitate temporary entry and work permits for Australian business people.
Education SAFTA will enhance opportunities for Australia’s world-class education exports through increased recognition of Australian tertiary qualifications. In particular, Singapore has agreed to recognise the Juris Doctor degrees of Australian universities currently listed in SAFTA, providing access for those universities which have moved to a graduate model of legal education, such as the University of Melbourne and the University of Western Australia. Separately, Singapore will recognise allied health degrees from a number of Australian universities.
For Goods Exporters To complement existing duty-free access for Australian goods, the Rules of Origin Chapter will now include a full schedule of product specific rules of origin, which will provide flexibility to meet the requirements to claim preferential treatment in each other’s markets. SAFTA will adopt a self-certification process, meaning an importer, exporter or producer can self-certify that the good meets the applicable rule of origin for the good.
Financial Services Financial service providers will be able to provide a range of financial services on a cross-border basis. This includes investment advice and portfolio management services and brokerage services for insurance of maritime, aviation and transport-related risks.
18 ACCESSASIA | WWW.AUSTCHAM.ORG.SG
Government Procurement Australian companies are already winning high-value contracts with the Singapore Government, and SAFTA will lock in these opportunities in sectors such as road transport, construction and engineering. The Government Procurement Chapter has also been modernised to reflect better current procurement practices, including to protect government policies aimed at encouraging access to government contracts for indigenous firms and small and medium-enterprises.
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UPCOMING EVENTS LUNCH WITH THE HON. CHRISTOPHER PYNE MP, MINISTER FOR DEFENCE INDUSTRY THURS 18 JAN 2018 EVENT SPONSOR
OUT & ABOUT BUSINESS CONNECTS
Over 80 AustCham members and their guests joined us at Montreux Jazz Cafe for an evening of networking. Thank you to Australian International School for sponsoring the event.
Thursday 26 October 2017 EVENT SPONSOR
WINE SPONSOR
ANZ AUSTRALIA DAY BALL 2018 SAT 27 JAN 2018
EVENT SPONSOR
BAND FLOWN BY
1
GOLD SPONSORS
PHOTOGRAPHY & LOGISTICS SPONSOR
1.
Ivan Lim, Razy Shah, Tony Gravina, Cianta Seneviratne and Tim Ong
2.
Jo Lu, Rachael Bennett, Sarah Robertson and Mark Florance
2
WINE SPONSOR
BEER SPONSOR
GOURMET SPONSOR
MEET THE BOARD
Wednesday 1 November 2017
Nearly 40 members joined us for our November Meet the Board event. Over breakfast, our new members had an opportunity to meet the AustCham board members and network with other members. Special thanks to GEMS World Academy for sponsoring the event.
AUCTION SPONSORS
OFFICIAL PRESS PARTNER
EVENT SPONSOR
DIGITAL COMMUNITY PARTNER
OFFICIAL MEDIA PARTNER
EXCELLENCE IN LEADERS WITH ALAN JOYCE, CEO OF QANTAS TUES 06 FEB 2018
1
1.
Ian Cummin
IN CONVERSATION WITH
We invited Honeycombers founder Christine Edwards to speak at our In Conversation With session. Christine spoke about her successes and challenges in building her hyper-local lifestyle websites across three locations (Singapore, Bali and Jakarta). Special thanks to GEMS World Academy our event sponsor and ClubCo our venue sponsor.
Christine Edwards Wednesday 6 November 2017
EVENT SPONSOR
VENUE SPONSOR
1
1.
Philip Lutton and Timothy Mahoney
2.
Sebastian Bernard and Christine Edwards
INSIDE BUSINESS
NAVIGATING E-COMMERCE
2
Dentons Rodyk shared some of the complexities, challenges and opportunities that businesses face when dealing with e-commerce with regards to laws, policies, payments, logistics, and mobile penetration at our Inside Business event. Special thanks to venue sponsors Dentons Rodyk.
Thursday 16 November 2017
VENUE SPONSOR
ACCESSASIA | WWW.AUSTCHAM.ORG.SG 21
OUT & ABOUT LAUNCH PAD
CROSS CULTURAL BUSINESS
Philip Forrest, board member and former president of AustCham Singapore shared his insights on navigating cultural differences in the workplace. This event was in collaboration with New Zealand Chamber of Commerce Singapore. Special thanks to venue sponsor Servcorp.
Wednesday 22 November 2017
IN COLLABORATION WITH
VENUE SPONSOR
1
1.
Robert Stankov, Shekinah Kendi Kinimi, Julie-Ann Chapman, Tamara Alnassar and Rund Alnasser
2.
Emma McCollough, Lara Verity Sinclair and Sam Williams
22 ACCESSASIA | WWW.AUSTCHAM.ORG.SG
2
&ABOUT
10
NEW MEMBERS GOLD CORPORATE MEMBERS
CORPORATE MEMBERS
HOLIDAY INN SINGAPORE ORCHARD CITY CENTRE FRANK FOSTER GENERAL MEMBER www.ihg.com
24 ACCESSASIA | WWW.AUSTCHAM.ORG.SG
RIO TINTO SINGAPORE HOLDINGS PTE LTD
RIO TINTO SINGAPORE HOLDINGS PTE LTD
GARETH JOHNSTONE CHIEF ADVISER ASIA www.riotinto.com
AMARSANAA ADIYA PRINCIPAL ADVISER www.riotinto.com
ASSOCIATED FOREIGN EXCHANGE (SINGAPORE) PAUL NORWOOD EXECUTIVE DIRECTOR www.afex.com
INSTAREM PTE LTD FIONA KWEN MARKETING MANAGER www.instarem.com
CFO CENTRE P/L STEVE SETTLE MANAGING & REGIONAL DIRECTOR www.cfocentre.com.sg
ENGECO PTE LTD MARC ALLEN TECHNICAL DIRECTOR www.engeco.com.au
GLOBAL BABE FIONA ARGYLE COMMUNICATION DIRECTOR www.globalbabe.com
GALKAL GRAEME SPARSHOTT MANAGING PARTNER - ASIA www.galkal.com.au
SUPERNOVA PTE LTD EMILY HAMILTON FOUNDER www.supernova.xyz
AIRSWIFT JOANNE PAVIA ACCOUNT DIRECTOR GLOBAL MOBILITY SOLUTION www.airswift.com
FLYWIRE (SINGAPORE) PTE LTD VICTOR PARDO BUSINESS DEVELOPMENT MANAGER www.flywire.com
GILMOUR SPACE TECHNOLOGIES ADAM GILMOUR CEO www.gspacetech.com
NOVOTEL SINGAPORE CLARKE QUAY ALAN BURROWS GENERAL MANAGER www.novotelclarkequay.com.sg
GOLD CORPORATE MEMBERS
CORPORATE MEMBERS
NEW MEMBERS CORPORATE MEMBERS
CORPORATE MEMBERS
VIRGIN ACTIVE DAMIEN POSTERINO HEAD OF SALES S.E.A www.virginactive.com.sg
26 ACCESSASIA | WWW.AUSTCHAM.ORG.SG
TEALE PTE LTD ADRIAN BUKMANIS TECHNICAL DIRECTOR www.teale.asia
SINGAPORE MANAGEMENT UNIVERSITY JACK LIM CLIENT DIRECTOR www.smu.edu.sg
VIRGIN ACTIVE NIKI GOLDNER NATIONAL RELATIONSHIP MANAGER www.virginactive.com.sg
TECHENOMICS SINGAPORE PTE LTD CHRIS ADSETT CEO www.techenomics.net
VIRTUAL ROOM REBECCA ASSICE DIRECTOR www.singapore.virtual-room.com
WINDOW SEAT GROUP PRIYANKA NADKARNI MANAGING DIRECTOR www.windowseat.group
MCCORKELL AND ASSOCIATES PTE LTD JOSEPHINE JEREMIAH GENERAL MANAGER www.mccorkell.com.sg
TECHENOMICS SINGAPORE PTE LTD STACEY VARSANI CONSULTANT www.techenomics.net
ASSOCIATE MEMBERS
INDIVIDUAL MEMBERS
AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS EDWARD PALMISANO MARKETING DIRECTOR www.companydirectors.com.au
APEX BRS LISA ASKWITH REGIONAL DIRECTOR www.apexbrs.com
BROOKFIELD ASSET MANAGEMENT NIEL THASSIM CEO www.brookfield.com
S.E.A STRATEGIC PTE LTD MARK FLORANCE MANAGING DIRECTOR
SINGHEALTH SHARRON BENNETT HEAD www.singhealth.com.sg/
ACCESSASIA | WWW.AUSTCHAM.ORG.SG 27
TRAVEL
MEMBERSHIP CARD OFFERS Present your AustCham membership card and enjoy these benefits.
QANTAS Complimentary business class check-in for you at the Qantas lounge in Singapore
BUSINESS SERVICES AIMS IMMIGRATION SPECIALIST 15% discount on professional fee at AIMS Immigration Specialist CITY DEVELOPMENT LIMITED 10% discount on facilities and services at City Serviced Offices CLIFTONS 25% discount on room bookings GEEK TEAM ASIA 20% discount on all your technology support needs HMD Up to 50% off restoration services ISENTIA Up to 30% discount of standard rate card LAW IN ORDER Enjoy 15% off a range of business administrative services LEVEL3 A complimentary month of 'Community Membership' RUNNINGSTREAM 50% discount for the first year proprietary Portfolio Program SERVCORP Enjoy one month complimentary ‘The Virtual Office’ package
EDUCATION & TRAINING BRITISH COUNCIL 20% off all corporate training workshops COALFACE DIALOGUE Special members’ rates on selected professional development program GEMS WORLD ACADEMY SINGAPORE Priority discounts & preferential discounts for enrolments in the 2016-2017 academic year PM-PARTNERS Enjoy 20% off standard price of any public or in-house training course SINGAPORE MANAGEMENT UNIVERSITY Receive 5% discount on selected SMU Executive Development Programmes WHITE LODGE Free trial class for your child at any one of eight centres throughout Singapore
FINANCIAL SERVICES PAY2HOME Enjoy money transfers to Australia for a flat fee of $15 (save 25%) QBE SINGAPORE 20% discount on personal lines including Home, Motor and Travel coverage
HEALTH SERVICES ALL IN THE FAMILY COUNSELLING Enjoy special rates for counselling sessions DENTAL ESSENCE Special members’ rates for consultations GLOBALIS INTERNATIONAL HEALTH INSURANCE AustCham members, both individuals and groups, now receive discounted rates on their international health insurance
LIFESTYLE & ENTERTAINMENT THE BRITISH CLUB 50% off Associate Transferable Membership for only $8,000+ GST EATPLAYLIVE 50% off the purchase price for 12 months access to EatPlayLive, Asia’s premier lifestyle app BOUNCE SINGAPORE 10% off General Access Tickets VIRTUAL ROOM 15% off for AustCham members booking online
RESTAURANT & HOTELS ANGSANA BINTAN 30% off best available rate at Angsana Bintan BANYAN TREE BINTAN 30% off best available rate at Banyan Tree Bintan ANGSANA LANG CÔ Complimentary choice of one unlimited inclusion (golf/spa/dining) per day BANYAN TREE LANG CÔ Stay 3 pay 2 Nights and enjoy the 3rd night free CARLTON HOTEL SINGAPORE 20% off total bill at Café Mosaic, Tuxedo and Gravity Bar 10% off total dinner bill at Wah Lok Cantonese Restaurant COMO THE TREASURY PERTH Save over 33% on best available room rates FAR EAST HOSPITALITY 5% off best available rate with complimentary daily breakfast and WiFi 10% off best available rate at TFE hotels in Australia FRASERS HOSPITALITY 20% off Best Flexible Rate at participating properties THE FULLERTON HOTELS SINGAPORE 10% off the Fullerton Family Package THE FULLERTON BAY HOTEL 10% off the Indulgence Room Package JAXS BISTRO 10% off total bill JW MARRIOT HOTEL SINGAPORE SOUTH BEACH 15% off food and beverage total bill MEZZA9 15% discount on snacks at martini bar and party room, and food during lunch, dinner and Sunday brunch MARINA MANDARIN SINGAPORE 15% off best available room rates and hotel managed restaurants & lounge MEAT SMITH Exclusive all day happy hour drinks and 25% off all meat platters MONTREUX JAZZ CAFE 20% off total bill and 15 % off Merchandise NOVOTEL SINGAPORE CLARKE QUAY 15% off total buffet food bill only at The Square Restaurant PARK REGIS Enjoy special rate for Corporate Room WHITEGRASS 20% off total bill at The Bar
RETAIL EASTERN CARPETS 10% off on all carpet cleaning services THE BESPOKE CLUB 15% off storewide including Bespoke Orders UOMO GROUP Exclusive discounts at UOMO Group, Brioni and Stefano Ricci INDIGO WINE CO Futher 10% off already discounted wine packs POP UP WINE Complimentary bottle of award winning wine with purchase of any 12 wines SHIVA DESIGNS 15% discount on purchases over $99 WINE EXCHANGE ASIA $69 per bottle for cases of six Billecart-Salmon NV Champagne YES 20% off best wellness products including Tasmanian Honey
TRANSPORT & RELOCATION SERVICES ALLIED PICKFORDS Two hours complimentary handyman service on moving day
VISIT WWW.AUSTCHAM.ORG.SG FOR FULL DETAILS & CONDITIONS
ACCESSASIA | WWW.AUSTCHAM.ORG.SG 29
NEWS FLASH Congratulations to AustCham member Flywire on winning first place at Singapore Fintech Festival! Flywire was recognised for their technological innovation and impact across the region with their international payment and receivables platform.
JOIN AUSTCHAM SINGAPORE JOIN AUSTCHAM SINGAPORE JOIN AUSTCHAM SINGAPORE
GET CONNECTED GET CONNECTED ININ2018 2018 15 MONTHS MEMBERSHIP NOW OPEN 15 MONTHS MEMBERSHIP NOW OPEN
570 members and growing
3800
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ANNUAL BUSINESS SERIES
Breakfast with the Stars, Country briefing, Excellence in Leaders, In Conversation With, Innovation, Inside Business, Launch Pad and Special Breakfasts
attendees at our events in 2017
events in 2017 and more to keep you busy in 2018
ANNUAL SIGNATURE SOCIAL EVENTS
ANZ Australia Day Ball, President’s Lunch & Business Awards, Wine & Cheese Nights and Xmas Drinks
VISIT AUSTCHAM.ORG.SG FOR MORE DETAILS Australian Chamber of Commerce Singapore 30 ACCESSASIA | WWW.AUSTCHAM.ORG.SG 25 Napier Road, Level 3, Australian High Comission Building Tel: +65 6738 7917 Email: members@austcham.org.sg
WWW.AUSTCHAM.ORG.SG
Our Singapore to London route is back From 25 March 2018, we’ll once again be flying direct to London from Singapore.* Choose from First, Business, Premium Economy or Economy. Fares available now. Book now at qantas.com Subject to Government and Regulatory approval.
*
DEC ? JAN | ACCESSASIA
AUSSIE-RULES Skills for life
Integrity
Antet ilibus, incte quas doluptas quosaep tatiund aeriscipsunt quatem eaque nonsequis evel id unti te vid ut fugiatendus exped undipsam, tempost, officati aciae Watchvolupta yourtibus. child grow into a responsible, omnimo
respectful and caring world Cae. Itati a doluptatur? Ximille custet, cuscitizen endae omnimus andandi stioreprovid evel id unti te vid ut We celebrate our students’ fugiatendus exped undipsamacademic, sporting and artistic achievements - day in and day out. However, we also instil a deeper quality - one which drives them to spur on their classmates, help a straggler over the wall and gracefully applaud the successes of others. The building of character is woven into everything we do. Speak to our friendly Admissions Team about becoming part of our community.
Globally focused, distinctly Australian
www.ais.com.sg +65 6653 7906
Australian International School Pte Ltd is registered by the Committee for Private Education (CPE), part of SkillsFuture Singapore (SSG). CPE Registration Number 199204405H. Period of Registration 6 July 2015 to 5 July 2019