AUSTCHAM INDUSTRY GROUPS 2019/20 DEC/JAN
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A MESSAGE FROM THE
EXECUTIVE DIRECTOR
Welcome to the last edition of Access Asia for 2019. In this issue we focus on the work that has been done by our three industry group pilots that were set up earlier this year. The groups cover Built Environment and Construction, Fast Moving Consumer Goods and Cyber and Digital industries. They’re chaired by members and while there is some assistance from the executive office the groups are primarily member focused and operate independently. This was a new project for the Chamber, which we started in response to member’s requests to broaden our offerings and facilitate more industry specific networking and support.
CONTENTS 5
BOARD MEMBER PROFILE
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AUSTRALIA-SINGAPORE DIGITAL ECONOMY AGREEMENT TO ENHANCE DIGITAL COOPERATION
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AUSTCHAM DIGITAL & CYBER INDUSTRY GROUP
It is great to see where the groups are now, and you can read more about their participants, chairs and activities later in this edition, but it did take a lot of planning, preparation as well as trial and error to get to this point. I would like to thank the three chairs of the groups – Tim Chapman, Ben Vella and Ellen Rodgers – for their time and effort in getting this activity up and running. I’d also like to mention Katrina Campbell and Erica Marcellan from our executive office team who have been working closely with the groups during this set-up stage.
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INTRODUCING THE FMCG INDUSTRY GROUP
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AUSTCHAM SINGAPORE FMCG WORKING GROUPS
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BUILT ENVIRONMENT INDUSTRY GROUP (BEIG)
Next year we plan to add additional groups and use them as a platform for our networking nights and elements of our business events program. As you may be aware from Andrew’s previous President’s Message communications, the Chamber Board is undertaking a significant overview of our strategy and future direction and the role of the industry groups will be a part of this work. They’ll be making some calls soon and you should have already received a survey link to give us your feedback.
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AUSTCHAM EVENT RECAP
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UPCOMING EVENTS
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OUT & ABOUT
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THANK YOU
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NEW MEMBERS
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MEMBERSHIP CARD OFFERS
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NEWSFLASH
On a personal note, I will be taking some time out of the office next year as my husband and I are expecting our second baby. Katrina Campbell will be acting Executive Director from January. Katrina is currently Acting Director of Memberships and Programs and many of you would have met her in that role, but for those who haven’t I’m sure you will have a chance to be in touch soon. Looking forward to seeing you at our Christmas Drinks and Australia Day Ball 2020 to farewell 2019 and welcome the new year.
Kate Baldock Executive Director
PLATINUM SPONSORS
SILVER SPONSORS
BRONZE SPONSORS
A MESSAGE FROM THE
PRESIDENT
As we wind down towards some very well earned rest and celebration with family and friends over the Christmas and New Year holidays, I wish to express my sincere thanks to each and every one of you for your participation and the fantastic contribution you have made to the AustCham Singapore during 2019. By reading this article you are demonstrating an interest and commitment to the success of your business chamber. A lot has happened in 2019. As well as the many great events the executive and the board has been discussing the right strategy for the chamber going forward. Thanks to the combined efforts of the board, the executive and members we are starting to see some positive results from our early work on establishing Industry Groups, particularly in Digital and Technology and the Built Environment and Infrastructure spaces. But there is a lot more to be done on this in 2020 to ensure that we are able to identify the right purpose and outcomes from these Industry groups. Over the last couple of months the board has held a number of special strategy meetings and will soon be contacting members to discuss their needs and objectives to ensure that the Chamber is best aligned to delivering into these. We will spend more time refining the purpose of the Chamber and the strategy for 2020. We will communicate further to provide an update to our members in the new year. I'd like to use this forum to introduce our board members, starting with Vice President Ben Vella. You can read his profile on the next page. Please take the time to relax and celebrate with family and friends over the Christmas period. I look forward to connecting with you all again early in the new year. Finally, If you haven’t already, please corral your customers, colleagues, family and friends and organise your tables for the ANZ AustCham Australia Day Ball on the 8th of February 2020. This has always been a significant social event for the Australian business community in Singapore and next year we would like it to be bigger and better than ever. Wishing you a Merry Christmas and a Happy New Year.
All the best Andrew Brown President
BOARD MEMBERS Andrew Brown
Liza Noonan
Amber Williams
PRESIDENT ANZ Banking Group Limited
VICE PRESIDENT CSIRO
HONORARY SECRETARY
Ben Vella
Scott Speedie
VICE PRESIDENT Telstra
HONORARY TREASURER Commonwealth Bank of Australia
Gemma Manning
Taliessin Reaburn
Gemstar
Austrade
Chris Coburn
John Simeone
Tim Chapman
Treasury Wines Estates Asia
Qantas
Surbana Jurong
Chris Rudd
Serena Wee
Tristan Perry
James Cook University Singapore
Icon Cancer Centre
Select Investors
BOARD MEMBER
PROFILE Ben Vella is the Head of Telstra’s Enterprise Customer Hub, responsible for building a new integrated Inside Sales & Sales Operations environment for Telstra’s $2B International Enterprise Business. The Enterprise Customer Hub (ECH) brings together seven functions into an Agile Framework that supports the four Telstra International Regions: South Asia, North Asia, EMEA and Americas. Built from zero and scaling up to 85+ staff based in a purpose-built facility, the ECH brings together multiple functions helping to underpin the business that carries 30% of the Asia Pacific Network/Internet traffic and works across: • Account Management for Tier 3 customers • Inside Sales for Tier 1 & 2 customers • Service Management • Solution Architecture • Supplier Quoting • Price Desk • Order Desk. Ben has over 20 years of sales and management experience in markets and organisations across APAC, with the last 11 years based in Singapore. Prior to joining Telstra, Ben was Director for Cisco Systems’ APAC Business Video business, where he was responsible for the go-to-market strategy and execution across marketing, internal sales, key accounts and key channel partners. He holds a Bachelor’s Degree in Commerce from New England University and a Masters of Business Administration from Macquarie Graduate School of Management. Coupled with responsibilities at Telstra, Ben Vella is proud to be Vice President at AustCham and Chair of the Digital & Cyber Industry group. Originally from Sydney, the journey into Asia began 11 years ago with the move to Singapore. Like many who move, Ben’s knowledge of Singapore and the broader region was limited. The cultural diversity, the food and the constant evolution has meant there is always more to discover. Change has also been personal - moving as a bachelor, Ben is now married and the father of 8-year-old and 5-year-old boys who were both born in Singapore and attend local Singaporean Schools, learning Mandarin and the ways of many cultures. Being based in Singapore provides a gateway to the region and the opportunity to explore so much. With a goal of visiting all of Asia’s countries, the journeys have been frequent and special. While there are many highlights, unique experiences have included: taking Orlando, the older of the two boys, to Bangladesh when he was 3 years old - something that surprised the Bangladesh border officials; running the Pyongyang Marathon in North Korea and visiting the isolated country; climbing through the mountainous regions of Bhutan and Nepal; visiting the beaches of South East Asia, Maldives, Mauritius, Reunion is just a small sample of Ben’s experiences. As a result of the Singapore weather, and always having a pool nearby, Ben developed another passion: triathlons. Starting eight years ago walking round the Singapore OSIM Triathlon Sprint to now having completed 12 Ironmans, including the Regional Championships on each continent, this journey will culminate with competing in the World Championships, Kona, Hawaii in 2021. Building networks and friends, and the opportunities built from working in great companies and being associated with amazing associations such as AustCham in such a diverse and special place as Singapore has been a constant pleasure for Ben.
ANZ AUSTRALIA DAY BALL 2020
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FOREIGN POLICY UPDATES
AUSTRALIA-SINGAPORE DIGITAL ECONOMY AGREEMENT TO ENHANCE DIGITAL COOPERATION
H.E. BRUCE GOSPER Australia’s High Commissioner to Singapore
Australia and Singapore are continuing to lead the way on digital cooperation through a landmark agreement that will harness digital transformation and technology to expand trade and economic ties in our region. Bruce Gosper explains the opportunity this presents for Australia. It’s an exciting time for the Australia-Singapore relationship in the area of digital trade. A meeting between Prime Minister the Hon Scott Morrison MP and Prime Minister Lee Hsien Loong in June 2019 kick-started work on a landmark Australia-Singapore Digital Economy Agreement. The Agreement aims to deepen the bilateral economic relationship, promote greater connectivity and provide ambitious standards for our region’s digital economy. Work has progressed at breakneck speed, reflecting the critical importance our respective Prime Ministers place on this shared objective. In October, our Trade Ministers, the Hon Simon Birmingham and Mr Chan Chun Sing, agreed the scope of the Agreement which covers a broad range of new areas of bilateral cooperation, including digital trade facilitation, e-invoicing, e-payments, fintech, digital identity and artificial intelligence. Both countries will also explore the role of data in the digital economy and work together to foster trust, promote a safe online environment and improve personal data protection – an area both countries take very seriously. Significantly, the Agreement builds on the Australia-Singapore Comprehensive Strategic Partnership and expands on our countries’ commitments under the Singapore-Australia Free Trade Agreement. The Agreement also complements our joint efforts as co-convenors of the World Trade Organization Joint Statement Initiative on E-Commerce to develop international digital trade rules, and will help provide regional benchmarks on digital economy cooperation. The ASEAN digital economy is projected to grow to US$200 billion by 2025, with e-commerce accounting for US$88 billion of that growth. The Agreement will enhance digital trade opportunities for our companies with Singapore and the broader region. Formal negotiations are underway and we are working to finalise the Agreement by early next year. One of the Agreement’s key objectives is to deliver meaningful outcomes for business to engage in and take advantage of the opportunities presented by the digital economy. Potential opportunities for Australian and Singaporean businesses under the Agreement were discussed by an expert panel during the Infocomm Media Development Authority’s SG:Digital Industry Day in October 2019. Chaired by PwC Singapore’s Digital Accelerator Leader and AustCham Singapore’s Cyber and Digital Committee Vice-Chair, Ms Carolyn Chin-Parry, the panel discussed opportunities for partnerships in the Australian digital economy, including real world examples.
Department of Foreign Affairs and Trade Director, Mr Tim Stapleton, highlighted the huge scope for cooperation between Australian and Singaporean regulators and agencies in areas including trade facilitation, digital identity and data innovation, to name a few. He explained that the Agreement would provide a framework to help build out the rules of engagement. Accelerating Asia Co-Founder, Ms Amra Naidoo, described the growth opportunities in our region presented by hyperlocalisation, rapidly improving connectivity and companies – particularly the start-ups she works with – possessing a global outlook from day one. Dr Chris Berg from RMIT University’s Blockchain Innovation Hub acknowledged the large amount of applied research and innovation happening at the intersection between academia and business. Citing cryptographic and economic research as examples, he noted that corporates are trying to integrate highlevel research into business design. He emphasised that key questions like how we manage trust and trusted information across borders require academic and industry focus. Highlighting the large growth potential of the region’s digital economy, Telstra’s Head of Enterprise Customer Hub and AustCham Singapore’s Cyber and Digital Committee Chair, Mr Ben Vella, explained the new capacity for reach and increased bandwidth leading to expanded capacity. The next wave of capacity expansion will relate to the 5th generation of telecommunication networks (5G). All panellists were positive about operating or launching a digital business in Australia. Australia was also described as an insightful test market for Singapore companies before they expand to the United States or the European Union. Singaporean start-up Neuron Mobility Founder, Mr Zachary Wang, said that he chose to expand to Australia as he was looking for a Singapore ‘lookalike’ market. Mr Wang explained that Australia was a relatively easy and transparent system to set up in and navigate and highlighted that local governments are relatively interested and willing to explore tech ideas and solutions. Singapore is Australia's largest trade and investment partner in South-East Asia. As two vibrant and open economies, we share a vision for improved economic integration between our countries. Our populations also adopt new technology at high levels. The Australia-Singapore Digital Economy Agreement will provide the framework for this work, but a lot will rest on an ongoing agenda. Some areas of collaboration could include digital certification, strengthened efforts in relation to cyber, the harmonisation of business and investments standards and shared efforts to seed innovation. We are leading the way in the digital economy and we are eager to work with Singapore to maximise ambition in areas of common interest. 7
INSIGHT
AUSTCHAM DIGITAL & CYBER INDUSTRY GROUP OVERVIEW Singapore is uniquely positioned in South East Asia and is the head office for many organisations looking to grow and expand in the region. Singapore also represents one of Australia’s major trade partners, which is reinforced through the trade agreements and bilateral relationship the two countries enjoy. As technology and digital transformation touches increasing parts of people’s lives and transforms an increasing number of industries, the opportunity exists to bring together expertise across the Australian Business community in Singapore. The Digital & Cyber Industry Group has the goal of bringing together professionals to share opportunities and challenges being faced in Singapore and the region, building personal networks and connections to accelerate the meeting objectives. Based on these insights, the group is involved in working with appropriate bodies to provide ideas that can accelerate investment in Singapore and the region to further improve the Digital operating environment. Singapore continues to demonstrate its commitment to the Digital Economy as it invests in bodies and policy to capture the returns of transformation. CHAIRS Mr Ben Vella, Head of Enterprise Customer Hub, Telstra (Chair) Ms Carolyn Chin-Parry, Digital Accelerator Leader, PwC (ViceChair) Mr Daniel Spencer, Head of Business Development & Partnerships, Sleek (Vice-Chair) GROUP LINKEDIN PAGE www.linkedin.com/groups/13784432/ DIGITAL ECONOMY INDUSTRY BRIEFING On the 13 August 2019, a special Digital Economy Industry Briefing was held at the Australian High Commissioner's Residence in Singapore. The briefing was attended by members of the Australian and Singaporean digital community who heard from visiting delegates from Australia’s Department of Foreign Affairs and Trade in a panel discussion that was chaired by Ms Carolyn Chin-Parry, Vice-Chair of AustCham’s Digital and Cyber Industry Group. The catalyst for the briefing session originated from a bilateral announcement on 7 June 2019, when the Australian and Singaporean Governments publicly expressed a commitment to further strengthen the ties between our two great nations through the auspices of a new Digital Economy Agreement.
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The intent and purpose set out for the new Digital Economy Agreement was to build upon the existing strong foundations of the Australian and Singaporean Free Trade Agreement, Joint Comprehensive Strategic Partnership and Double Taxation Agreement with the added objective to better leverage the digital economies of both countries for new efficiencies and opportunities. The panel discussion and active audience participation uncovered several key focus areas for consideration within the initial scoping study for the agreement. These focus areas were summarised to seven key topics: TOPICS • Digital Trade Facilitation • Impact of Digitisation across different industries • Cross Border Data Flows & Payments • Artificial Intelligence • Technology StartUp Ecosystem in Singapore & ASEAN • Digital Standards, Research & Collaboration • Security, Digital Identity, Privacy standard and impacts AustCham and the Digital & Cyber Industry Group would like to extend our thanks to the Australian Government for hosting this event and we are excited to continue our contribution towards this very exciting and worthwhile initiative. For more information on Australia’s commitment to digital trade please refer to the DFAT Website.
DIGITAL ECONOMY WORKSHOP WITH AUSTCHAM MEMBERS AustCham undertook a workshop on the 5 September 2019 to facilitate the gathering of ideas from members of AustCham's Digital Economy Industry Group. The workshop welcomed 26 attendees from the Australian and Singaporean digital business communities and included special guests from DFAT and the Australian High Commission. Focus was provided by the DFAT brief outlining the timeline and objectives. • A scoping framework should be ready by October 2019, the full agreement hopefully negotiated and concluded by end of 2019. • The core objective for the agreement is to foster practical cooperation between Australian and Singapore at both Industry and Government Level. • The new agreement is meant to be much more than a trade agreement and complement the already existing FTAs and treaties between Australia and Singapore. There were seven key topics discussed and input from the group included: 1. DIGITAL TRADE FACILITATION • Need to identify main outcomes for digital documentation, balancing cost, safety and speed. • Understanding of beneficiaries and priorities. SMEs, Ports, Shipping, and Logistics Companies were identified by the group as the prime sectors currently affected.
5. ARTIFICIAL INTELLIGENCE • Definition of common privacy principles are needed. • Common standards for ethical use need to be agreed. 6. DIGITAL IDENTITY • Opportunity to build common individual and corporate digital identities that can be used across both countries. 7. DIGITAL STANDARDS AND RESEARCH COLLABORATION • Development of common digital standards across key areas, including payments, crypto-currencies, Cyber-security and e-commerce. • Development of partnerships with Academic Research and Standards Bodies. • Focus on standards for privacy that will allow for the flow of data across borders. Based on the invaluable contributions shared by our members during the workshop, the AustCham Digital and Cyber Industry Group was able to capture these insights to provide a formal submission for the Australia and Singapore Digital Cooperative Initiative. We thank our members for their active participation in our group and look forward to more constructive and engaging sessions ahead in this domain. Our Digital group continues to invite members who would like to expand their network, provide input into industry papers and share ideas round the digital transformation.
2. CROSS BORDER DATA FLOWS • Focus on key sectors should be included; Financial Services and Health were highlighted. • Data Privacy Rules and Data Sovereignty Rules that currently inhibit flows of data hampering company’s expansion across borders need to be addressed. 3. CROSS BORDER PAYMENTS • Removing the costs and other barriers to cross-border payments, include focus on costs of transfer, taxes and reciprocal acceptance of background checks. 4. STARTUPS • Talent movement and broader opening of visa options for startups are inhibiting expansion. • Development of compliance reciprocity and compliance frameworks will remove barriers.
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INTRODUCING THE FMCG INDUSTRY GROUP The FMCG Industry Group was established in July this year, with the group’s membership consisting of senior FMCG insights, marketing, sales professionals, board directors and SME owners. The group’s charter has been defined, with the overall aim to accelerate growth of Australian FMCG businesses in Singapore by: 1. Identifying and addressing key market access barriers 2. Identifying business development opportunities that could be unlocked by leveraging the strength of the group’s supply chain and product range 3. Developing a 2020 Industry Group Integrated Marketing Communication (IMC) plan which promotes umbrella brand Australia and halos the individual businesses. To enable the group to deliver against the charter objectives, the creation of three subgroups each focused on the delivery of individual objectives has been established. • Subgroup 1: Working on how to unlock the key market access barriers such as digitalisation of import documentation. • Subgroup 2: Working on how Australian FMCG organisations can work closer together to unlock business development opportunities across both the consumer and industry sectors. • Subgroup 3: Working on an Integrated Marketing Campaign to promote brand Australia and halo individual businesses. MEET THE TEAM
ELLEN RODGERS International Business Manager Southern Asia Meat and Livestock Australia Chair of Industry Group
Ellen Rodgers is the International Business Manager for Southern Asia at MLA with a team reporting to her across the region. Ellen is based in Singapore – a location she knows well, having spent several years here as previous Regional Marketing Manager for Treasury Wine Estates. She has over ten years’ experience in sales and marketing roles within the food and beverage industry. Her experience in delivering branded marketing campaigns and events through the Southern Asian region, and a strong knowledge of the retail and foodservice distribution network will be an excellent addition to the FMCG ASEAN working group. Meat & Livestock Australia (MLA) is an industry service provider which delivers research for the Australian red meat and livestock industry and promotes beef, lamb and goat meat in Australia and international markets. MLA collaborate with stakeholders to invest
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in research, development and marketing initiatives that contribute to producer profitability, sustainability and global competitiveness. Through MLA's subsidiary companies, they also accelerate innovation across the value chain and deliver the industry's integrity and LISA ASKWITH Director Apex BRS Chairperson The Corner Store Regional Director See Global Media Lisa is a highly experienced C suite leader who focusses on success through people and developing a sustainable culture, whilst championing effective and positive leadership and developing rewarding and engaging workplaces. Having held senior roles for several global companies over the last 25 years, Lisa has had the opportunity to gain a very thorough insight into just what makes a company successful, and how to go about addressing issues that are holding it. Lisa currently holds several Board and Advisory roles, specifically focusing on the greater ASEAN region. JONATHAN DURRANT National Key Account Manager Treasury Wine Estates Jon has over 20 years of experience in the FMCG & Pharmaceutical industries. Jon began his career with Treasury Wine Estates (TWE) when he moved to Singapore in 2017 as the National Account Manager. Jon manages some of TWE’s key partners in Singapore such as Dairy Farm, Redmart/ Lazada and Amazon. Prior to his time at TWE, he held various senior leadership roles in the FMCG & Pharmaceutical industry having previously worked at Coca-Cola Amatil, GlaxoSmithKline, and Sanofi-Aventis. Treasury Wine Estates (TWE) is one of the world’s largest wine companies. From the establishment of Australia’s Penfolds in the mid 1840s to the 1876 founding of Beringer Vineyards, a winemaking legacy has been created. Today’s TWE’s vision is to become the world’s most celebrated wine company. The portfolio includes iconic brands such as Beringer, Chateau St. Jean, Lindeman’s, Wolf Blass, Penfolds, Rosemount, Wynns Coonawarra Estate, Stags’ Leap Winery,
ANTHONY MCCONNEL Indigo Wines
Matua Valley, Etude, Castello di Gabbiano, Seppelt, Coldstream Hills and Devil’s Lair. With over 13,000 hectares of vineyards, sales totalling over 34.6 million cases of wine annually and revenues of about AU$1.8 billion, TWE employs over 4,000 winemakers, viticulturists, sales, distribution and support staff across 12 countries. EMMA PIKE Owner Farmer’s Market Emma Pike is the owner of Farmer's Market, Hong Kong's number one online butcher now open in Singapore. Emma is a serial entrepreneur, starting her first business at the age of 16, and has run multiple companies from recruitment to swimwear to web design and now in the food industry. Emma's main goal with Farmer's Market is to be a responsible source for people to get their meat and seafood at a reasonable price. Most of her products are sourced from Australia and New Zealand and all are traceable, sustainable and restaurant quality. www.farmersmarket.com.sg FIONA JOHNSTON Senior Marketing FMCG Specialist
Anthony initially gained his passion for wine during his University days. This became not only an obsession but eventually a true career path. Anthony has now amassed over 25 years’ experience within the wine industry while completing degrees in business and marketing as well as a range of wine qualifications. Anthony has held a range of roles within the industry gaining exposure to both Australian and international markets. After a successful stint as the Australian and New Zealand Business manager for Craggy Range Winery (voted best new world winery in 2015), Anthony embarked on creating Indigo Wine Co in Singapore in 2016 along with local business partners. The premise for Indigo is to represent unique and highly credentialed boutique Australian wineries throughout South East Asia. www.indigowineco.com One of the key pieces of work that the group has delivered is the submission on Singapore- Australia digital economy.
Fiona is a senior marketing leader with over 16 years experience in the FMCG industry, specifically focused on the food industry. Having gained experience in Australia, New Zealand, UK and SEA across both consumer and bfood service sales channels, her most recent role as Head of Marketing for International at Goodman Fielder saw her delivering growth of iconic Australian and New Zealand brands in growing SEA markets. OLA RAMNEBRO COO, Director & General Manager The Corner Store Ola is an Entrepreneur, Director and General Manager with experience in starting up companies including raising capital, finance, sales, marketing, HR and operation. As General Manager and co-founder responsible for the complete development of the company from business idea to running an operating company. The Corner Store imports fresh food and groceries directly from Australia to Singapore. Customers can choose from over 10 000 Australian food and grocery products including fresh fruits, vegetables, fish, cheese, wine that is flown in and directly delivered to your door in Singapore www.thecornerstore.shop
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AUSTCHAM SINGAPORE FMCG WORKING GROUPS Submission on Singapore-Australia digital economy Date: 12/11/2019
Austcham FMCG Working Groups would like to submit a proposal to the digital economy body of work being done by the Australian Government. A range of potential value-adding and re-export business models are emerging in Singapore that present opportunity for the Australian red meat industry. Regulations and management of cumbersome trade certificates present barriers for some models, but significant value could be captured for Australian meat products by leveraging Singapore’s connectivity to Asia to increase speed to market, reduce transport costs and become more responsive to changing demand. Singapore currently acts as a major artery for sea-freight Australian red meat exports into South East and North Asia. However, beyond ship-to-ship transfers and transhipping, there is further potential to more readily integrate into distribution, and even value-adding, centres within a Singapore free trade zone and re-export through the country’s substantial network of air and sea-freight routes. Now, more than ever, competitive pressure is heating up in Asia and Australia must leverage its proximity to market and leading shelf life standards when tapping into high value Asian markets. Singapore is positioning itself as a food hub, with public-privatepartnerships and commercial partners looking to invest in logistics and value adding infrastructure to capture growth in high-value food trade in the region. While requiring changes to health certificates – part of which would be their digitisation – and the establishment of protocols, there is potential value to be captured from sea-freighting red meat into Singapore, storing in a distribution centre and re-exporting as airfreight across the region. However, within current regulation, once a sea-freight container has been opened, the attached Australian export health certificate is no longer valid. Further to this, when goods arrive in Singapore a review of items classification to ensure consistent processing from one country to the next would also significantly helpful for businesses. This would stop the high-level rejections of products that can occur due to language barriers or misunderstanding. Having acceptable digital pre clearance at the Australian start point would significantly reduce these issues. A smarter, digital trade certificate process, married with technological solutions to track product integrity through a multi-country supply chain, could be one solution for Australian tapping into these growing opportunities. Sea-to-air freight via Singapore could significantly reduce the cost of existing Australian air-freight and open up channels to additional, more remote, markets for chilled beef and
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lamb. Product stored in a central regional distribution centre could also be more responsive to demand. For instance, such a model could suit a regional hotel chain customer wishing to place weekly fresh produce orders, or it could integrate into the growing suite of e-commerce businesses delivering justin-time fresh groceries across South East Asia. Extending it further, portioning or value adding could also be incorporated into the model. For instance, in markets where cold chains are poor and butcher skills limited, having a centralised portion cutting and retail ready packaging facility could be a way to improve product integrity and quality for a regional retail chain. At its simplest, leveraging Singapore’s air and sea port networks could mean connecting inbound sea-freight to out-bound air-freight. At its more complex, it could incorporate significant value adding. Depending on the model and its complexity, varying amendments would be required to the management of health certificates. However, the digitisation of trade certificates is critical in enabling more flexible and complex supply chains. Meat and Livestock Australia is currently engaged with Enterprise Singapore and PSA to explore these opportunities and is planning further consultation with the Australian industry prior to the end of the calendar year. This will help us establish the size of the prize on the table. The AustCham FMCG working group strongly encourages the Australian and Singapore government investigating the digitisation of trade certificates, particularly the health certificates attached to Australian red meat exports, and we are eager to remain involved in the consultation process. Currently, MLA is also exploring and investing in technology partners who may be able to offer integrity solutions (product traceability, quality, safety) through these more complex supply chains of the future.
BUILT ENVIRONMENT INDUSTRY GROUP (BEIG)
In May this year, in recognition of the significant role that Australian, and Australian-related companies, play in the built environment in Singapore and the broader region, based in Singapore, the AustCham Built Environment Industry Group was established. The membership of the Chapter includes some 16 people, representing 11 companies as well as the Australian High Commission and Austrade. The companies represented include privately owned facilities providers, publicly listed construction companies, architects, engineers, quantity surveyors, project managers, urban planners, property economists and public research specialists. Indeed, a full range of the services involved in the built environment. The Chapter is Chaired by Tim Chapman, the Deputy CEO Singapore for Surbana Jurong Group and the Vice Chair is Peter Hyland, the Regional Director of Cistri Pte Ltd. Since establishment the group has met four times up to the end of November. The ongoing support of Kate Baldock and Katrina Campbell has been significant, and much appreciated in getting the Group established. One of the key initial priorities of the Group was to establish its Objectives and Strategic Action Plan. As a result an outcome of the first two meetings was the defining of the Purpose and Objectives outlined below. PURPOSE 1. To identify the BE industry challenges to the development and engagement of Australian businesses in the Built Environment sector in the Singapore market and within the broader region. 2. To develop strategies which address the identified challenges for further consideration by AustCham. 3. To drive - through engagement with AustCham government bodies, and industry groups - participation of Australian businesses in the Singapore BE industry with a priority focus on AustCham Member businesses. OBJECTIVES 2019 1. Form group, establish organisational arrangements, responsibilities of members 2. Formalise 2019/20 Strategic Action Plan (SAP) and present to Board at 19 August 2019 Board meeting 3. Identify initial list of challenges and prioritise 4. Development of strategy to address the No 1 identified challenge 5. Review list of challenges on a quarterly basis
6. Publish one discussion paper by end January 2020 (The initial paper currently underway is an examination and quantification of the Australian influence on the Singapore property market, and through this, the whole economy. This paper is being led by Jack Backen from Cistri.) OBJECTIVES 2020 1. Deliver on actions outlined in SAP 2. Publish two discussion papers relating to the identified challenges a. Paper 1: Target date June 2020 b. Paper 2: Target date November 2020 3. Conduct a Built Environment Industry Group event a. Target date August/ September 2020 b. Format to be defined In order to appreciate the range of members of the Group, and the companies they represent, a number of them have been profiled for this article and they have specifically been asked to give some insights into what they see they will derive from their involvement in BEIG. COLIN EDDISON, AURECON Colin is an Associate and Mechanical team leader in Aurecon’s Built Environment team. He has led projects in Singapore and across South-East Asia in Data Centres, mixed-use developments, education and entertainment sectors. He moved to Singapore in July 2018. Aurecon Singapore is a global engineering and infrastructure advisory firm with over 7000 employees across Asia, Australia, New Zealand, Middle East and Africa. The Singapore office has grown beyond 100 people in recent times. Aurecon is owned by its employees with our head office in Sydney. Aurecon partners with our clients across many sectors and geographical locations to provide multi-discipline expertise. We are embracing digital solutions to find better value for our clients and exploring new technologies and ideas to solve the most complex problems. Our Singapore office has teams in Buildings, Data & Telecommunications, Infrastructure and Advisory. With our large presence in the Australian market, we see the importance of promoting Australian businesses, innovation and people in Singapore and across the region. There are some exciting things happening as part of the Australian infrastructure boom and the strong historical connection between Singapore and Australia
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presents us with an obvious opportunity to grow collaboration. We believe that Australia has a big part to play in the future of this region. EDWARD BELIN, DIRECTOR, PUBLIC RESEARCH AND DESIGN Public Research + Design is a unique research consultancy that works with clients across government, property development, architecture and business. We marry anthropological research with designthinking and data, to create compelling and attractive peoplecentred experiences and journeys. We work across research, experience design and strategy to achieve positive business and community outcomes. Every project is different - currently we are working with a precinct developer to research the user profile of a particular suburb, analyse the trading area and provide recommendations in regards to the design of the precinct, tenant-mix activation, and place-making so that the experience of the precinct is uniquely designed for each of the different user groups. We also work on a project where we research how shared spaces in large building complexes can be designed better for social harmony. We are a boutique consultancy that helps large companies in the built environment industry to deliver better products for the end user. Collaborating with companies in the BEIG is therefore a great opportunity for us. We hope to do business with our colleagues from the group in the future and support Australian companies in Singapore. DARREN BENGER, ATA ARCHITECTS (SINGAPORE) Darren is Director of Viv ATA Pte Ltd, an architectural practice licensed by the Board of Architects, Singapore. Darren obtained his B. Architectural Studies and B. Architecture (Hons) degrees from the University of Adelaide. Darren has resided in Singapore since 1996 and has been a member of AustCham for many years. Darren is a member of the Australian Institute of Architects (International Chapter) as well as being a longserving member of Council of the Singapore Institute of Architects (SIA). He also had the privilege of being on the council of the Singapore Chapter of Learning Environments Australasia since its establishment. PUNIT JOSHI, BLUESCOPE Punit is the Vice President of Strategy & Business Development at BlueScope, Australia’s largest manufacturer of Steel. He is responsible for leading the Digital Strategy Planning & Business Development within the company. Punit has been vital in helping to influence, educate and refine the company's digital B2B capabilities across value chain to ensure sustainable business growth through improved customer experience, operational efficiency and business model refinement. BlueScope is one of the world’s leading manufacturer of painted and coated steel products. We are focused on the global building and construction industry with great strengths in engineered steel buildings in key markets. NS BlueScope Coated products is a 50:50 joint venture enterprise between BlueScope and Nippon Steel. We serve the building and construction, manufacturing, and home appliance industries with innovative, high quality coated and painted steel products and solutions across ASEAN and North America. We see BEIG providing excellent networking opportunities with like-minded business groups in Singapore and Australia amongst 14
designers, contractors, developers, operators, etc. We also see the opportunity to establish connections with Building and Construction sector institutes, research agency, etc. Identifying key trends and challenges in the building and construction industry and contribute in addressing some of those challenges through greater collaboration amongst different stakeholders. WILL KENNEDY-COOKE & DANIEL MALCCHINI, WT PARTNERSHIP Will Kennedy-Cooke is Managing Director (South East Asia) with over 15 years of experience in the Region and 34 years internationally. Based in Singapore, he is currently responsible for the overall services delivery across all built environment sectors by the business in ASEAN countries and provides the key interface for coordination with the WTP network in other regions. Daniel Malcchini relocated from Australia to Singapore in 2007 and has worked in a range of construction sectors over his 22 years of professional experience including commercial, education, retail, hospitality, industrial, corporate fitout, infrastructure, civic and residential projects covering both new works and refurbishments of varying complexity. WT Partnership is an award-winning, international Quantity Surveying & Construction Cost Management consultancy established 70 years ago, that has operated continuously in Singapore since 1962 and has a current staff of about 1000 across Asia (excluding India). We are an independent business dedicated to construction cost consultancy, wholly owned by working Directors who deliver impartial objective advice to our clients in 360 degrees of the asset management cycle from inception to disposal, including refurbishment and facilities management consultancy. WTP is responsible for delivering notable projects in the region providing a wide spectrum of QS services throughout Asia, including being a market leader in the provision of Technical Advisor Services for the delivery of Infrastructure through both Public and Private funding. Will and Daniel oversee WTP’s international projects in ASEAN, providing opportunities for Clients to engage with our experience with the diverse characteristics and capabilities within each market. Involvement with the Built Environment Industry Group provides
the opportunity to leverage on WTP’s in-depth knowledge of Asian markets and collaborate with the complementary strengths of other Australian expertise to positively engage with the continued development in the Region. NEIL GUNN, BG&E CONSULTING ENGINEERS PTE LTD Neil is the Regional Manager of BG&E Consulting Engineers Pte Ltd, a consulting engineering practice licensed by the Professional Engineering Board and registered on the BCA Panel, Singapore. Neil’s career spans across Australia, Middle East, Europe and SE Asia and he has played key roles in the establishment and growth of the BG&E Singapore and Perth Offices. BG&E is a civil and structural engineering consultancy established 50 years ago in Western Australia. Our team is based in five offices across Australia, three offices in the Middle East, Singapore, London and Auckland. We have over 500 permanent staff across our international offices. BG&E is recognised within the industry for providing high standards of engineering on technically challenging projects. We deliver solutions that are practical and focus on constructability.
RICHARD CONEY, PURE PROJECTS Richard is Regional Director and co-founder of Pure Projects and has extensive experience in the delivery of commercial building projects and has acquired project management skillsets including Project and Construction Management, Design Management and Tenancy Delivery. He has over 15 years of experience in the Consulting and Construction industry and has led and delivered projects in Australia, UAE, Singapore, Malaysia, Philippines, Vietnam, Thailand and China. Pure Projects is a specialist Project Management service provider. Our business is founded on the principle of valuing long term relationships with our clients, partners and suppliers. REGIONAL EXPERIENCE – PROJECTS As an Australian founded firm operating across the Asia Pacific, we see our involvement with AustCham’s BEIG as an opportunity to collaborate and work closely with other Australian founded/ operated firms regionally.
We specialise in our selected fields of civil and structural engineering where we strive towards technical excellence. We are employee owned and our staff, who share innovative ideas and a problemsolving ‘can do’ attitude, have a vested interest in achieving successful outcomes.
Angsana Teluk Bahang, Malaysia Project Type: Mixed Use – Hotel, Resort and Wellness Project in Penang, Malaysia Client: Senja Aman Optus, Dubai
Hunter Expressway, NSW
Optus Stadium, WA We have won numerous engineering awards in recognition of the high standard of work. These awards are an acknowledgement of our contribution to the engineering industry and the outcomes we deliver for our clients. Being part of the Built Environment Industry Group is key to further understanding the region’s strengths and how best we can add value and bring innovation through the sharing our international experiences and learning from others' regional knowledge.
The Shoppes at Marina Bay Sands, Singapore Project Type:Retail – Luxury Shopping Mall in Singapore, over 1,000 retail shops delivered over 10 years. Client: Marina Bay Sands Services Provided: Retail Tenancy Co-ordination, RFC Project Management Services and Retail Design Services
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studioMilou Profile for AusCham Built Environment Industry Group
We see BEIG as a unique building industry platform in which the group past decade with a growing folio of high-end residential, public and members can seek ways to share and transfer industry knowledge to landscape projects that bring simple solutions to complex design communicate throughout industry that Australian firms have a issues. studioMilou is architectural firm in with studioMilouthe is an an architectural firm based based in Singapore Singapore with branches branches in in Paris Paris and and Hanoi Hanoi which which privileges privileges beautifully beautifully lot to offer to the regional AsianLed building and construction industry. crafted design. by and directors, crafted design. Led by French French and Australian Australian directors, Jean-Francois Jean-Francois Milou Milou and and Suzanne Suzanne Ogge, Ogge, the the studio studio has has a a track track Throughthe involvement in theSingapore Built Environment record National and Carreau du record in in award-winning award-winning museum museum and and public public projects projects including including the National Gallery Gallery Singapore and iconic iconicIndustry CarreauGroup, du Temple in both of the Institute of International Chapter Awards for We feel it’s a great initiative for Australian firms to together and intends to contribute to stronger networks for (2015) Australian Temple in Paris, Paris, both recipients recipients ofband the Australian Australian InstitutestudioMilou of Architecture Architecture International Chapter Awards for Public Public (2015) and Heritage (2019). assist each other through theArchitecture transfer of knowledge to better help professionals and companies in Singapore, and to support greater and Heritage Architecture (2019). Aussie firms to expand and develop their professional reach in the collaboration in both Southeast Asia and Europe. An international leader in reuse heritage international leader in adaptive adaptiveimprove reuse and and heritage projects, projects, the the company company has has expanded expanded further further in in Singapore Singapore and and Asian markets, An seek new business opportunities, existing Asia over the past decade with a growing folio of high-end residential, public and landscape projects that bring Asia over the past decade with a growing folio of high-end residential, public and landscape projects that bring simple simple business contacts and relationships, and continually promote Aussie JUSTIN TAYLOR, KAER solutions to design solutions to complex complex design issues. issues. businesses as trusted, reliable and responsible operators with a can- Justin joined the Kirkham Group – a conglomerate which owns do attitude. Through multiple real estateintends and engineering-related businesses in Asia, Through involvement involvement in in the the Built Built Environment Environment Industry Industry Group, Group, studioMilou intends to contribute contribute to to stronger stronger networks for in studioMilou to networks for 1995. Australian professionals and companies in Singapore, and to support greater collaboration in both Southeast Asia and Australian professionals and companies in Singapore, and to support greater collaboration in both Southeast Asia and Suzanne Ogge,Europe. studioMilou Europe. Suzanne Ogge joined studioMilou in 2009, bringing to the As the founding employee and CEO of Kaer Pte Ltd (Kirkham Group’s company over a decade's experience working with the UN on fastest growing business), Justin expanded Kaer to become South National Gallery Singapore, AIA International Architecture Awards 2016 Nationalproject Gallerymanagement Singapore, Singapore Singapore |the AIA International Chapter Architecture Awardssof(PUBLIC), (PUBLIC), 2016 international heritage in Asia, | Arab States Chapter East Asia’s first provider t ufinancially dioM i land o u sustainably | w w w. sresponsible tudiomilou.fr and the Caucasus. Suzanne is familiar with cross-cultural working solutions for air conditioning assets and scaled Kaer’s operations in environments and along with managing the heritage projects, steers Asia. the company's strategic development and client relations, notably in the Asia-Pacific region. Kaer is the largest and fastest growing “Air-conditioning as a Service” company operating throughout Asia. With over 60 years of experience studioMilou is an architectural firm based in Singapore with branches in delivering precise conditions to data centres, commercial studioMilou is an architectural firm based in Singapore with branches in Paris and Hanoi which privileges beautifully in Paris and Hanoi which privileges crafted design. Led by properties andMilou campuses, Kaer launched crafted design. Led beautifully by French and Australian directors, Jean-Francois and Suzanne Ogge,this therevolutionary studio has a business track French and Australian Jean-Francois and Suzanne model tothe allow building ownersSingapore to purchase air-con a pay-as-yourecord indirectors, award-winning museumMilou and public projects including National Gallery and iconicon Carreau du Ogge, the studio has aintrack record in award-winning museum and use basis in 2013.International Chapter Awards for Public (2015) Temple Paris, both recipients of the Australian Institute of Architecture de Brèche. Niort, France | Chapter Place de la la the Brèche. Niort, France | AIA AIA International International Chapter Architecture Architecture Awards Awards (PUBLIC), (PUBLIC), 2019 2019 public projects Place including National Gallery Singapore and iconic and Heritage Architecture (2019). Carreau du Temple in Paris, both recipients of the Australian Institute As Kaer is responsible for all of the capex and opex associated international leaderAwards in adaptive reuse(2015) and heritage projects, the company has(including expandedelectricity), further in Singapore and of ArchitectureAn International Chapter for Public and with running the system Kaer’s investment Asia over the past decade with a growing folio of high-end residential, public and landscape projects that bring simple Heritage Architecture (2019). in productivity enhancing AI software has delivered the most solutions to complex design issues. reliable air-conditioning systems in Asia winning global awards and An international leader in adaptive reuse and heritage projects, recognition. Through involvement in the Built Environment Industry Group, studioMilou intends to contribute to stronger networks for the company has expanded further in Singapore and Asia over the and to support greater collaboration in both Southeast Asia and Australian professionals and companies in Singapore,
studioMilou Profile for AusCham Built Environment Industry Group
Europe.
studioMilou
Carreau du Temple, Paris, France | AIA International Chapter Architecture Awards (HERITAGE), 2019 Carreau Temple, Paris,Singapore, France |Singapore AIA International Chapter Architecture Awards (HERITAGE), 2019 National du Gallery Singapore, Singapore | AIA International Chapter Architecture Awards (PUBLIC), 2016 National Gallery | AIA International Chapter Architecture Awards (PUBLIC), 2016
293 Danang Park, Vietnam | 2019 (Construction, 2019 -- 2021) 293 Danang Park, Danang, Danang, Vietnam | Winner, Winner, 2019|Chapter (Construction, 2019 Awards 2021)2019 Place de la Brèche. Niort, France | AIA International Architecture (PUBLIC), 2019 293 Danang Park, Danang, Vietnam Winner, 2019 (Constructuion, - 2021)
Residential Projects | Hong Kong --Holland Park, Singapore --Malaysia Residential | Maryknoll, Maryknoll, Hong --- 33 33Kong Holland Park, Singapore --- Malacca, Malacca, Malaysia Residential Projects Hong - 33 Holland Park, Singapore - Malacca, Malaysia Carreau du Projects Temple, Paris, France| Maryknoll, | AIAKong International Chapter Architecture Awards (HERITAGE), 2019
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Our approach is collaborative. We work with clients and partners to produce meaningful and innovative outcomes. We bring clarity to complex challenges and deliver solutions that shape cities and communities for a better future. We advise developers, property owners, investors, private firms, NGOs, community groups, industry associations and all levels of government. Cistri was very honoured in 2018 to be appointed by the URA and STB to prepare the long-term strategy for Orchard Road. Orchard Road has long been Singapore’s prime retail and dining destination. To inform the Singapore Government’s efforts to rejuvenate Orchard Road amidst a changing retail landscape, Cistri led a 10-member consortium to undertake a comprehensive study of issues facing Orchard Road and develop strategies to address these issues. Recent acquisitions into the Kaer portfolio include the Paya Lebar Quarter development by Lendlease as well as other commercial properties owned by international REITs. Justin revolutionised Kaer’s business with the conceptualisation and launch of Kaer Air; the world’s first model supplying “air” as a service. Heralded as one of the top 18 breakthrough business models globally, Kaer Air has disrupted the property industry. By leveraging Kaer’s state-of-the-art engineering and IT capabilities, Kaer delivers ground-breaking sustainability and financial returns; and new asset solutions for land owners, developers, investors and managers. Justin now leads the expansion and growth of Kaer’s portfolio of assets which currently serves 25 million square feet of spaces across Singapore, India and Malaysia.
We see the BEIG as a valuable forum to share intelligence and insights, promote Australian businesses. We also see it as an opportunity to act collaboratively to maximise opportunities for Australian business in Singapore and the region more broadly.
Outside his role at Kaer, Justin is a Director of the Emerald Hill Group and is an active member of YPO where he sits on the International Board, is the Vice Chair of the Board and a member of the Governance and Succession Committee. Based and living in Singapore since 1995, Justin has a Bachelor of Commerce (BCom) , Bachelor of Laws (LLB) and Master of Laws (LLM). PETER HYLAND and JACK BACKEN, CISTRI PTE LTD Peter is the Regional Director and Jack, Director of Property Economics of Cistri both based fulltime in Singapore since 2016. Cistri is the international arm of Urbis Australia.
Involvement in the BE Industry Group The Built Environment covers a wide spectrum of interests across industry sectors and job disciplines. Being a part of the Built Environment industry group allows all stakeholders to keep up to date with rapidly emerging trends with insights and forecasts being shared amongst the members.
Cistri is an independent urban development consultancy firm. Our team brings together expertise in urban planning, design, economics and property to create value for successful property development, cities and communities.
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EVENT RECAP
AustCham Event Recap
EXCELLENCE IN LEADERS WITH MICHAEL EBEID AM, GROUP EXECUTIVE - ENTERPRISE WITH TELSTRA AustCham Singapore was honoured to host lunch with Michael Ebeid AM, at the Hyatt on Monday 4 November as part of our Excellence in Leaders Series. Our Excellence in Leaders series showcases leaders in their field be it industry business, government or the broader community. Previously in this series we’ve welcomed Alan Joyce CEO Qantas, Shayne Elliot CEO ANZ, Michelle Simmons Australian of the Year and Michael Byrne CEO Toll Group. Joining this esteemed company of leaders is Michael Ebeid AM, Group Executive Enterprise Telstra. Michael Ebeid AM joined Telstra in October, 2018 as Group Executive, Enterprise. In this role he is responsible for revenues in excess of $8bn with approximately 3,500 people in 20 countries and the largest subsea cable network in the Asia Pacific region.
Convergence of Technology Big Data Artificial Intelligence
Internet of Things Robotics
Cloud Computing Introduced by MC Ben Vella, Head of Growth Markets & Digital Customer Hub, Asia Telstra and Austcham Vice President, Michael began by emphasising the speed at which the world is experiencing technological changes and how this is affecting businesses, stating that ‘technology will never again move as slowly as it is currently moving’. Referring to what many are now calling the fourth industrial revolution he explained how digital transformation is driven by rapid advances in connectivity, how 5G is a key catalyst for the significant changes we are seeing and the convergence of technology. Digital Transformation success is, however, not just about technology but is also about the right people and being clear on what digital transformation means at the foundational stage of a transformation.
Before joining Telstra, Michael was CEO of SBS where he significantly evolved the public broadcaster's portfolio with four distinctive TV channels, an extensive in-language radio offering and new market-leading digital services like SBS On Demand. With over 30 years of experience across technology, telecommunications, and media industries Michael has a successful track record in leading organisational change transformations and is passionate about workplace culture, leadership and diversity. In 2017, Michael was awarded a Member of the Order of Australia (AM) for his service to Broadcast Media and Multicultural Affairs and named CEO of the Year at the CEO Magazine’s Executive of the Year Awards. We invited Michael to share his insights into how companies can ensure digital transformation success and how to lead through times of disruption and change.
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Stressing the importance of a healthy corporate culture and its contribution to success during times of disruption, Michael discussed the relationship between empowerment and accountability – empowering those closest to the customer, using the expertise of people already in the organisation as well as creating a strategic transformation team, and developing a
In conclusion, Michael reiterated there is no doubt we are entering a period of incredible technological change as a number of transformational technologies converge and are turbo charged by 5G.
sense of unity by removing the barriers of silos within an organisation. For overall transformation you need to change the behavior of employees. Earlier this year, Telstra Enterprise released some research around Digital Transformation, surveying some 3810 companies across the globe including a large sample from Singapore, and found that the companies that have integrated digital transformation across their organisation, that appropriately weighted the foundation stages of their transformation program, and have balanced people and culture, processes, technology and partners, are more digitally mature and ultimately more successful. Additionally, the successful transformations were when companies took a whole of business approach and not a piecemeal division by division approach. Cyber Security is a prevalent preoccupation. When asked about what worried companies the most, cyber security ranked at the top of the list globally and in Singapore. Also, when asked about the one thing they were not doing well – again cyber security topped the list. The Q&A session moderated by Oriel Morrison, business journalist from CNBC and co-anchor of Street Signs and Squawk Box, allowed for further expansion on the ideas Michael explored with audience questions focusing on corporate culture and how to best encourage performance.
“The challenge for every company, organisation and government today is to continually transform in this fast digitising world because business as usual is no longer an option.” Michael believes Singapore is well prepared to succeed as the pace of disruption increases due to its ICT policy vision, its fibre deployment and plans around 5G and investment in both grass roots and ongoing talent training. But that digital transformation needs to be much more than just technology – it is also about the people. “We each need to be brave enough to take advantage of the opportunities, to find smart answers to the challenges in front of us and to partner wisely.”
EXCELLENCE IN LEADERS WITH MICHAEL EBEID AM, GROUP EXECUTIVE - ENTERPRISE WITH TELSTRA This panel discussion was held on Monday 4 November 2019 Event Sponsor
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AustCham Event Recap
IMPACT OF GLOBAL TRADE TENSIONS AND HONG KONG TURMOIL ON APAC ECONOMY MICHAEL BLYTHE Chief Economist and Managing Director of Economics Australia Commonwealth Bank of Australia
On Friday 27 Sept, AustCham hosted discussions around the impact of global trade tensions and Hong Kong turmoil on the APAC economy. With global trade tensions dragging on, coupled with the turmoil in Hong Kong and talk of recession in Australia, what is the outlook for Australian businesses domestically and in the region? Is this the right time for Australian companies to embrace Asian opportunities and take advantage of the economic uncertainty?
RAJIV BISWAS Executive Director and Asia-pacific chief economist IHS Markit
household consumption and infrastructure construction in East Asian emerging markets. This has helped to underpin growth in many service sector industries, such as financial services, software services and media, as well as spending on consumer goods. Rising concerns among policymakers about the impact of weakening exports on economic growth has triggered monetary policy easing by many Asia-Pacific central banks during 2019, which is also providing additional stimulus to support regional growth. Consequently, the Asia-Pacific region is still expected to show resilient expansion in 2020, driven by continued rapid growth in China, India and ASEAN. Michael Blythe focussed on Australia’s position within the global setting noting that the Australian economy slowed sharply from mid2018 and annual growth stepped down to 1.4% in Q2 2019, around the rates recorded at the height of the global financial crisis and that a large part of the growth slowdown reflects transitory factors that are passing or at point of maximum negativity (eg. drought, drag from falling LNG capex, the collapse in residential sales). However, growth will be supported in the year ahead by the infrastructure boom, the LNG export payoff and the boost from rising Asian incomes (tourism, education, agriculture, food manufacturing). The more persistent
Rajiv Biswas summarised the latest IHS Markit manufacturing PMI surveys as showing moderating momentum in global manufacturing, notably in the European Union, where industrial output has been contracting. In the Asia-Pacific region manufacturing export orders have been weakening in many of Asia’s largest industrial economies, including China, Japan and South Korea. The combined effects of the US-China trade war, the downcycle in global electronics sector new orders and moderating growth momentum in the US and EU imply that many APAC economies will continue to face significant nearterm economic headwinds. Nevertheless, overall growth momentum in the APAC region has remained resilient, supported by continued rapid growth in
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drags will be the aftermath of the residential construction boom and the constrained consumer but strong population growth should limit the residential construction downside. A shortage of dwellings is likely to emerge in 2020. Consumer activity is constrained by weak income growth, high debt levels, elevated job security fears, perceived household budget pressures and the lingering effects from earlier falls in house prices. Some of these drags are easing as house prices turn up again and jobs growth continues. Faster wages growth would help, a point made repeatedly by RBA Governor Lowe. Michael believes that income tax cuts are the best response to consumer weakness. Commonwealth Bank Australia’s (CBA) Household Spending Intensions (HSI) measures suggest some modest positive impact is underway from the current round of tax rebates. An emerging risk is that the drop in consumer sentiment triggered by recent RBA rate cuts is blunting some of the impact of fiscal stimulus. Business confidence has also weakened. Business capex plans for 2019/20 have held up quite well against the weak global backdrop and elevated uncertainty. The risk, though, is that cautious companies facing unrealistically high hurdle rates of return while operating in an uncertain business environment keep capex contained. The RBA is indicating it is prepared to cut again “if needed”. CBA has a further rate cut in our forecast profile by February 2020 (cash rate at ½%). Any move lower could quite likely be accompanied by “unconventional” monetary measures. The preference, however, would be for more “conventional” fiscal initiatives. CBA’s figuring suggests that the Budget is in better shape than the official forecast show (the cumulative improvement over the four years to 2022/23 is about $35-40bn on our estimates). There is room to move on income taxes and infrastructure spending.
Global risks persist, especially from the US-China trade war and the impact on confidence. All countries lose in a trade war. But Australia should be less affected – it has policy firepower available and is using it. The floating AUD is an effective shock absorber. Most Australian exports to China stay in China (79% of the total). So Australia’s exposure is to the Chinese domestic economy. Policy moves to support China’s domestic economy will also help Australia. An expectation GDP growth to pick up from 2.0% in 2018/19 to 2.4% in 2019/20 and 2.5% in 2020/21. Growth at that pace should keep some modest downward pressure on unemployment. But won’t add much to growth in wages or inflation. A Q&A session followed, moderated by Pamela Qiu, Director, Economist Corporate Network, South-East Asia which explored the application of the ideas discussed by the panellists and how they related to the current situation in Hong Kong – a situation that is continuing to shift.
IMPACT OF GLOBAL TRADE TENSIONS AND HONG KONG TURMOIL ON APAC ECONOMY This panel discussion was held on Friday 27 September 2019 Event Sponsor
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ADVERTORIAL
EXPAT ALERT: PROPOSED CHANGES TO CAPITAL GAINS TAX REINTRODUCED TO PARLIAMENT TRISTAN PERRY Head of Tax Australia at Select Investors, a Division of St. James's Place (Singapore) Private Limited and AustCham Board Member
The 1st July can be a date of mixed opinion amongst the accounting community, as for some it’s the beginning of a very busy period (i.e. Management Accountants), and for others it resets the list and gives you some breathing space (i.e. Tax Accountants). I enjoyed the latter this year, together with a surprise to see that the longanticipated Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 2) Bill 2018, finally lapsed with not too much discussion about what it would look like when it returned (and if it was returning). Sadly, soon after this, the Australian Treasurer Josh Frydenberg, confirmed that it remained Government Policy, so it was just a matter of waiting to see what is re-released. KEY POINTS OF THE PROPOSED CHANGES On the 23rd of October 2019, the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019 was introduced to the lower house, which takes the foundations of the last bill, and adjusts this for certain life events with a pushed forward start date. In short, this bill seeks to amend various acts to have the following effects: • Remove the entitlement to the capital gains tax (CGT) main residence exemption for individuals who are not Australian tax residents (i.e. foreign tax residents) at the time of entering a contact of sale (i.e. selling your property whilst you are living offshore) • These changes will take effect post 30th June 2020 (providing you held that property since 9/5/2017, which was budget night 2017/2018) • Individuals who suffered a “life event” such as loosing a family member or being diagnosed with a terminal illness in the family (themselves, a spouse or child under the age of 18), or a matrimonial breakdown all provided they have been living offshore for less than 6 years, are exempted from this amendment. THE PRINCIPAL PLACE OF RESIDENCE EXEMPTION FOR CAPITAL GAINS TAX By way of background, every Australian homeowner is entitled to a principal place of residence exemption for capital gains tax on their main home during the time that they lived there, together with a concession which allows them to maintain this exemption indefinitely if the property is not rented out, or alternatively they can rent it out for up to 6 years with the same concession. This concession is also available on a prorate basis for those that rent their property for more than 6 years. This is readily used and relied on for Australian expatriates who move offshore for an expatriate assignment so that they can return home without having to deal with a large tax liability.
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Furthermore, those expatriates whose circumstances change whilst they are living offshore (which is many), may choose to sell their property to downsize or invest funds elsewhere, and rely on these funds being capital gains tax free to help with their broader financial planning. Sadly, if this bill is passed, then the above will come with the caveat that you need to sell the property whilst you are an Australian Tax Resident to enjoy such a concession. DO I NEED TO SELL MY PROPERTY BEFORE 30 JUNE 2020? If it was in your plan to sell your property sometime soon, and you also plan to remain offshore for many more years to come, you may need to consider listing your property for sale and selling it (obtaining a signed contract) before 30th June 2020 if you want to enjoy the tax concession. WHAT IF I DON’T WANT TO SELL MY PROPERTY? Most importantly, for those who don’t intend to sell their property whilst they are offshore, the 6 years of capital gains tax free growth, and principal place of residence exemption for the time whilst they lived in the property is still available, however, providing that you eventually sell your property when you return to Australia and take up Australian tax residency again. You don’t have to move back into the property, however, you do need to be a resident at the time of the contract signing for the sale. If you move back into your property and take up Australian residency again within 6 years of renting it out, you can effectively maintain continuous capital gains tax free growth on this property. DON’T GET CAUGHT OUT Sadly, the tax consequence for those not in the know are far worse, as if an expat sells their former principal place of residence home post 30th June 2020, whilst they are living offshore (i.e. They are a foreign tax resident), they will lose the whole concession including the time that they lived in the property, regardless of how long they may have lived in the property prior to moving offshore. This could be disastrous for an expat who lived in a property most of their life, then sold it whilst they were living off shore. Property tax planning can make a real difference to your financial position, so it is very important to ensure you consult an Australian tax professional before transacting any property. The levels and bases of taxation, and relief from taxation, can change at any time. The value of any tax relief depends on individual circumstances.
UPCOMING EVENTS
UPCOMING EVENTS To find out more about our events, visit our website at WWW.AUSTCHAM.ORG.SG
DECEMBER Signature Event
Thursday 5 December 2019
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Saturday 8 February 2019 ANZ Australia Day Ball 2020: The Greatest Ball
Don’t miss out, it’s set to be a fantastic night with show-stopping performances, spectacular music from one of Singapore’s best Aussie bands and great Australian food. We will be holding the event on 8th February 2020 at Swissotel the Stamford. The ANZ Australia Day Ball is the premier black-tie ball in South East Asia, don’t miss out. EVENT SPONSOR
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Thursday 27 February 2020 Business Connects February 2020
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Join us for an evening of networking. Business Connects provides the perfect opportunity for you to network within the Australian business community and connect with other AustCham members. EVENT SPONSOR
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OUT & ABOUT
SEPTEMBER 2019
AUSTCHAM & BRITCHAM PRESENTS: BREXIT & AUSTRALIA Wednesday 25 September 2019
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WINE SUPPLIED BY
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The Australian Chamber of Commerce and BritCham hosted a co-organised session with key speakers Lord Gus O’Donnell, former British senior civil servant, now Chairman Frontier Economics (Europe) and Andrew Robb AO, former Minister for Trade and Investment Australia (2012-2016). They shared their thoughts on relations between the UK, Australia and the rest of the world followed by a discussion moderated by Juliette Saly Anchor and Reporter from Bloomberg Radio and Television. The event was MCed by Amber Williams, AustCham Honorary Secretary, was held at The Gallery at the Grand Hyatt and was sponsored by Frontier Economics.
OUT & ABOUT
SEPTEMBER 2019
IMPACT OF GLOBAL TRADE TENSIONS AND HONG KONG TURMOIL ON APAC ECONOMY Friday 27 September 2019
AustCham members and guests gathered for breakfast at The Gallery at the Grand Hyatt to hear speakers Rajiv Biswas, Executive Director and Asia-Pacific Chief Economist, IHS Markit; and Michael Blythe, Chief Economist and Managing Director of Economics Australia, Commonwealth Bank of Australia. They shared their views on global trade tensions, Hong Kong and the Australian domestic economy and a discussion followed by a discussion moderated by Pamela Qiu Director, Economist Corporate Network, South-east Asia. The event was MCed by Amber Williams, AustCham Honorary Secretary and sponsored by the Commonwealth Bank of Australia.
PRESENTED BY
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OUT & ABOUT
OCTOBER 2019
BUSINESS CONNECTS OCTOBER Thursday 24 October 2019
EVENT SPONSOR
AustCham members and guests gathered for an evening of networking at Jamie’s Italian. It was a perfect opportunity to meet other members – both new and existing – of the Australian business community, enjoy free flow wine and beer, and canapés. The event was sponsored by the Australian International School.
OUT & ABOUT
NOVEMBER 2019
EXCELLENCE IN LEADERS WITH MICHAEL EBEID AM, GROUP EXECUTIVE - ENTERPRISE OF TELSTRA Monday 4 November 2019
AustCham was honoured to host another event in our Excellence in Leaders series, this time welcoming Michael Ebeid AM, Group Executive Enterprise at Telstra. Guests heard Michael share his experience and insights into leading through times of disruption and change, and how Telstra is meeting the changing demands of the market. A Q&A followed, moderated by CNBC’s Oriel Morrison. The lunch event was held at The Gallery at the Grand Hyatt and was sponsored by Telstra. Wines were supplied by Penfolds. PRESENTED BY
WINE SUPPLIED BY
AUSTCHAM MEMBERSHIP BENEFITS
Richard Jefferson Photography
S C A N T O E N J OY 1 5 % O F F
NEW MEMBERS
THANK YOU
THANK YOU
Thank you to our Corporate Patrons and Gold Corporate Members Corporate Patron Members
Gold Corporate Members
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NEW NEW MEMBERS MEMBERS
NEW MEMBERS Welcome Gold Corporate Members
Commonwealth Bank of Australia www.commbank.com.au
Servcorp www.servcorp.com.sg
Telstra www.telstra.com.au
Yogesh Padia Director, Banks and Government
Shahira Zailani Virtual Office & Coworking Manager
Clare Robson Head of Marketing, South Asia James McCartney
Shin Min Cheng Executive Director, Real Estate and Infrastructure
Sebastian Bird Customer Technology Executive
Corporate Plus Members
AirTrunk
Ampol
King & Wood Mallesons
www.ampol.com.sg
www.kwm.com
Michael Juniper CEO and Executive Director
Ricardo Nunes Business Development Manager
John Shum Partner
www.airtrunk.com
Damien Spillane Chief Technology Officer Ed Whitney Design Director Luca Melluso Technical Director Solutions Architecture & Connectivity
Chris Miller Senior Corporate Counsel Jayne Quek Business Originator
Eric Price Senior Development Manager
TO LEARN MORE ABOUT OUR AUSTCHAM MEMBERSHIP Visit austcham.org.sg or contact us members@austcham.org.sg
NEW MEMBERS
Corporate Enterprise Members DB3 Advisory Pte Limited Stash
Dale Cook Managing Director
John Jess CEO
Flat Monthly
The Fishwives
Michael Hogg CEO and Co-founder
Rebecca Forwood Owner
Go Bear
Trade and Investment Queensland
Adrian Chng CEO
Anthony Cheng Director- Invesment
Shoretech Pte Ltd
UP Education
Sajeev D Kurup Managing Director
Marnie Watson CEO University Partnerships
Associate Member Ashley Meddings Owner Manna from Heaven
AUSTCHAM MEMBER REFERRAL PROGRAM Do you have friends or colleagues who you think should be an AustCham member? Invite them to join AustCham and enjoy extra perks and benefits with AustCham’s new referral program. For every referral that joins the Chamber, you will receive AustCham points that can be redeemed as event tickets.
AUSTCHAM MEMBERSHIP REWARDS For every new member referred, you will receive points that can be redeemed as event tickets
+5 POINTS
Corporate Plus
+1 POINT
Corporate Enterprise
+1 POINT
Individual
How to redeem your points? Business Connects or Business Briefing Xmas Drinks or Australia Fare President Lunch & Business Awards Australia Day Ball
2 points 4 points 5 points 10 points
Referrals Award For every 10 points, members will be awarded and recognized every year at the Annual General Meeting or Xmas Drinks
TRAVEL
MEMBERSHIP CARD OFFERS Present your AustCham membership card and enjoy these benefits.
QANTAS Complimentary business class checkin for you at the Qantas lounge in Singapore
BUSINESS SERVICES AIMS IMMIGRATION SPECIALIST 15% discount on professional fee at AIMS Immigration Specialist
SERVCORP Enjoy ‘The Virtual Office’ package complimentary for one month
ENGN 15-20% photography discounts off headshots
OFX Preferential exchange rates on inter-account FX conversions or on overseas money transfers.
LAW IN ORDER AustCham members enjoy 15% off a range of business administrative services LEVEL3 Complimentary month of ‘Community Membership’
EDUCATION & TRAINING COALFACE DIALOGUE Enjoy up to 30% off selected public programs anywhere in SEA
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
GLOBALIS INTERNATIONAL HEALTH INSURANCE Receive discounted rates on their international health insurance
LIFESTYLE & ENTERTAINMENT BAND ON THE RUN ENTERTAINMENT 10% off General Access Tickets
DAMAI SPA Enjoy 20% off A La Carte treatments
BOUNCE SINGAPORE 10% off General Access Tickets
MISOBASE AustCham members 10% off all experiences.
CHI, THE SPA Enjoy 15% off discount
HEAVENLY SPA BY WESTIN AustCham members enjoy 20% discount on a la carte treatments
TRANSPORT & RELOCATION SERVICES ALLIED PICKFORDS Offering AustCham members a special insurance premium of 3%
HERTZ Enjoy 15% off on Affordable Rates for car rentals
HOTELS COMO THE TREASURY PERTH Enjoy Friday and Saturday night stay at 10% off the public rate.
THE FULLERTON HOTELS SINGAPORE Enjoy an exclusive 20% off best available rates the Fullerton Family Package.
NOVOTEL SINGAPORE CLARKE QUAY Enjoy 10% off from Best Available Room
VILLA FINDER With an average stay that costs $3000 in luxurious villas, Villa Finder is now offering AustCham members 5% off their villa booking!
PARK REGIS, SINGAPORE Complimentary breakfast when you book Bed & Breakfast Package RIA BINTAN AustCham members enjoy $20 off Newbie Golf Experience & $200 off Membership.
FAIRMONT SINGAPORE, SWISSÔTEL THE STAMFORD Enjoy 25% off Weekend’s Best Available Rate inclusive of buffet breakfast for two from 1 June 2019 to 29 December 2019
THE CANOPI AustCham members enjoy 10% off Best Available Room Rates at The Canopi and 10% off all activities at Chill Cove @ Treasure Bay Bintan.
RESTAURANTS ALLEY ON 25 15% off total bill AUNTIE'S WOK AND STEAM 15% off total bill BEACH ROAD KITCHEN 1 person dines free for every 3 paying adults for Sunday Brunch CAFE MOSAIC 20% discount off total bill COOK & BREW 15% discount off total bill COOL CATS, THE NCO CLUB 30% off total bill COURT MARTIAL BAR 30% off total bill FISH POOL, THE NCO CLUB 25% off total bill GATTOPARDO 15% discount off total bill
MADAME FAN, THE NCO CLUB 15% off food & beverage bill NAMI Enjoy 15% off total bill for a la carte items ORIGIN GRILL & BAR 15% off total total bill SEASONAL TASTES 15% off total bill SHANG PALACE 15% off total bill SHOPHOUSE BY SHANGRI-LA 15% off total bill THE LINE 15% off total bill THE LOBBY LOUNGE 15% off total bill THE ROSE VERANDA 15% off total bill WAH LOK CANTONESE RESTAURANT
JOJI BAR 10% off total bill at Joji Bar, Carlton Hotel Singapore
10% off total total bill WATERFALL RISTORANTE ITALIANO 15% off total bill
LOBBY LOUNGE 15% off total bill MEATSMITH Special discounts available
RETAIL EASTERN CARPETS Receive 10% discount on all carpet cleaning services
WINE EXCHANGE ASIA $69 per bottle for cases of six BillecartSalmon NV Champagne
INDIGO WINE CO $30 off first purchase of discounted Australian wine packs
TREASURY WINE ESTATES Exclusive access to premium Australian wines including Penfolds and Wolf Blass
NATURAL SPRINGS AUSTRALIA Receive one free 5-gallon bottle with every five bottles purchased
FARMER'S MARKET AustCham members enjoy $30 off your first order
SHIVA DESIGNS 15% discount on purchases over $99
NEWS FLASH
Qantas opens new First Lounge at Singapore Changi Airport Qantas has recently opened its new First Lounge at Singapore Changi Airport Terminal 1 to accommodate a growing number of passengers transiting through Singapore and respond to strong demand for travel in premium cabin. The Singapore First Lounge offers seating for 240 customers, a luxurious design and premium a la carte dining with Asian-inspired menus. Qantas has worked with Chef Neil Perry and Designer David Caon in collaboration with Akin Atelier, to create a relaxing, high quality environment for passengers to either start their international journey or transit through Singapore.
Penfolds 175th Anniversary Australian winemaker Penfolds hosted their 175th anniversary celebrations last month in Singapore. Over 400 special guests, including HE Bruce Gosper and many AustCham members, attended an exclusive party to toast 175 years of innovative winemaking. Whilst celebrating 175 years of amazing achievements the event was titled ‘Limitless’ due to Penfolds’ House Style meaning the winery is not bound by rules or convention. Wines served included the latest vintage of Australia’s most famous wine, Penfolds Grange – which has been awarded the perfect score of 100 points. To add to the celebrations, Penfolds was recently awarded the global ‘Winery of the Year’ Award from Wine & Spirits Magazine for an unprecedented 27th time. Chief Winemaker Peter Gago commented: “At Penfolds we put our wines first. After 175 years something must be working … our winemaking and viticulture teams continue to build upon the legacy of generations of their forbears – their hard work, vision and innovational mindsets certainly set the scene many decades ago.” Penfolds is a proud partner of AustCham and their wines will be served once again at the Australia Day Ball.
DEC 2019 / JAN 2020 AccessAsia Magazine is published bi-monthly by AustCham Singapore
EDITORIAL AND NEWSFLASH ANNOUNCEMENTS To submit articles or announcements for consideration for Access Asia, email info@austcham.org.sg
Editorial Team Kate Baldock, Executive Director Rica Ang, Marketing Executive Claire Reaburn, Communication Specialist
ADVERTISING To learn more about advertising in Access Asia Magazine, contact Rica Ang at rica.ang@austcham.org.sg
Design Rica Ang AustCham Singapore 25 Napier Road (Level 3) Singapore 258507
FOLLOW US ON @AustCham-Singapore
@AustChamSingapore
@AustChamSG
READ THE DIGITAL COPY AT AUSTCHAM.ORG.SG
Beauty, rich and rare Discover all that is unique to Australia. From the Daintree to Kangaroo Island, we can take you there. Qantas, the Spirit of Australia. qantas.com