SINGAPORE '30 BY 30'
ASEAN-AUSTRALIA SPECIAL SUMMIT 2018
2019
OCT/NOV
APR/MAY
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Dear members The new Board has started to review the strategy for the Chamber with a focus on how we can provide greater relevance and value for our members to facilitate your connectivity and success in Singapore and the region. As the business environment across the globe continues to change, we have to reflect the evolving needs of our members so as to continue to represent your interests as best we can. We’ve held two strategy meetings already and have created an agenda and working groups to look at the key aspects of the strategic review. Our members are at the centre of everything we do. The Chamber is committed to ensuring that we understand our members’ needs and aspirations and that we are delivering on your expectations. The most important voice in the strategy of the Chamber is our members and I want to encourage you to share your views with me or any of the other board members so that we can incorporate them into what we are doing. We will be seeking your feedback in a number of ways. Soon you’ll receive a link to a survey and I ask you to take the time to fill it out and provide your feedback. We will also invite you to an “open house” towards the end of the year which will give us the opportunity to have a more informal chat and for you to respond to some ideas we’ve had and add your own thoughts. In addition our board members will be making phone calls to some of our members to seek direct feedback.
This will give us a better understanding of expectations and how we are currently performing. At appropriate points along the process I’ll update you on the feedback we’ve received so you can continue to be involved in this important review of your Chamber. We have started to invite members to our board meetings to talk about their businesses and objectives. We will also open up our new members “Meet the Board” breakfasts to all members. Over the coming editions of Access Asia, I’ll use this space to bring you up to date on the strategy discussion and to introduce each of your Board members. These profiles will tell you a bit more about all of us, our motivations and interests. The Chamber and the Board exist for the Australian Business Community in Singapore and I want to ensure that we are working with you all as best we can. We look forward to hearing your feedback over the coming months.
All the best Andrew Brown President
BOARD MEMBERS Andrew Brown
Liza Noonan
Amber Williams
PRESIDENT ANZ Banking Group Limited
VICE PRESIDENT CSIRO
HONORARY SECRETARY
Scott Speedie
Ben Vella
HONORARY TREASURER Commonwealth Bank of Australia
VICE PRESIDENT Telstra
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
ANZ AUSTRALIA DAY BALL 2020
A MESSAGE FROM THE
EXECUTIVE DIRECTOR
CONTENTS Welcome to the October/November edition of Access Asia magazine. We recently held our second annual Australia Fare, a celebration of Australian businesses in Singapore. With booths showcasing Australian fashion, food, wine and gin it was a great taste of Australia in Singapore. Check out photos of the event in the social pages of this magazine. We held Australia Fare for the first time last year and the event continues to evolve. This year we added a half-day workshop prior to the evening event, with a focus on Singapore’s '30 by 30' strategy where Singapore is pushing to have 30% of its food produced in Singapore by 2030. Our workshops looked at the overall issues and the opportunities for Australian business. We held three panel discussions throughout the afternoon covering topics like urban farming, aquaculture and agritech, alternative sources of protein and government policy. With so much happening in this space and the great contributions Australian businesses can make we’re looking to run a second related event early next year, continuing with the focus on food but this time looking at it through a sustainability lens. We are working on the program now so if you have any suggestions on topics or you’re interested in finding out more about sponsorship opportunities contact the team at members@austcham.org.sg As Andrew mentioned in his President’s message, the new Board are taking the opportunity to revisit the activities of the Chamber and consider our overall strategic direction. The global business environment is constantly changing, and the Chamber needs to evolve to continue to represent our members. We value your feedback and I encourage you to fill out the survey when you receive it and reach out to the board if you want to provide more detailed feedback. We’re looking at a range of changes including memberships, digital platforms, events and regional connectivity. I’m looking forward to the evolution of the Chamber and your feedback on how we can continue to help grow your businesses in Singapore and the region.
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SINGAPORE'S MARCH TOWARD ZERO WASTE: AN OPPORTUNITY FOR AUSTRALIAN COMPANIES
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THE SINGAPORE '30 BY 30' AND THE OPPORTUNITIES FOR AUSTRALIAN BUSINESSES
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TRENDS IN AQUACULTURE
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ACHIEVING FOOD SECURITY WITH AQUACULTURE
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ADDING ALTERNATIVES TO PROTEIN MIX
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NEW EXPORT POTENTIAL FOR AUSTRALIAN FOOD INNOVATION
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HOME TO THE WORLD'S FIRST URBAN AQUAPONICS FARM
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UPCOMING EVENTS
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OUT & ABOUT
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THANK YOU
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NEW MEMBERS
28
MEMBERSHIP CARD OFFERS
30
NEWSFLASH
Kate Baldock Executive Director
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FOREIGN POLICY UPDATES
SINGAPORE'S MARCH TOWARD ZERO WASTE: AN OPPORTUNITY FOR AUSTRALIAN COMPANIES
H.E. BRUCE GOSPER Australia’s High Commissioner to Singapore
Singapore is looking to pursue a circular model for its economy and wants to increase its domestic food production. Bruce Gosper explains the opportunity this presents for Australian companies with expertise in waste management, water management, packaging and agri-tech to turn ‘trash into treasure’. Globally, 90 billion tonnes of primary materials are extracted and used each year. Yet, only nine per cent of what we use is recycled. This ‘make-take-dispose’ consumer model is not only unsustainable, but has significant health and environmental impacts. It’s a global crisis and nations are being made to confront their waste realities as developing nations start to refuse any more waste. Singapore means business when it comes to reducing its domestic waste and becoming more self-sufficient in meeting its food needs. The amount of waste disposed of in Singapore has increased seven-fold over the past four decades. At this rate, Singapore’s only landfill, Semakau Landfill, will be full by 2035. There’s limited land to build new incineration plants – not without its own set of environmental impacts – and limited land for new landfills. To overcome these challenges and continue to grow sustainably, Singapore is pursuing a circular economy. Singapore’s inaugural Zero Waste Masterplan sets out an ambitious target: to cut waste sent to Semakau Landfill each day by 30 per cent by 2030. The three priority waste streams are food waste, e-waste and packaging. Mandatory packaging reporting starts in 2020 and an Extended Producer Responsibility (EPR) for e-waste will be in place by 2021. The ERP will likely be extended to packaging by 2025. Legislation passed by Parliament earlier this month provides the relevant authorities with regulatory powers to compel large waste producers to reuse and recycle more. The National Environment Agency’s (NEA) ‘Closing the Waste Loop’ research and development initiative is encouraging research-business collaborations to develop technologies and solutions to tackle challenges posed by increased waste and resource scarcity.
Australia’s national research and science organisation, CSIRO, is using its world-class cross-disciplinary expertise to develop solutions to address gaps in Australia’s circular economy. A key focus is world-leading research into marine debris to help protect ecosystems. CSIRO is also researching more sustainable options for products that often end up in landfill, including research into recovery of metals and materials, battery reuse and recycling and development of new battery materials. CSIRO has applied digital technology to the waste challenge, recently spinning-out the ASPIRE waste management online marketplace in Australia from its research. ASPIRE intelligently matches businesses with potential remanufacturers, purchasers or recyclers to find new purposes for waste materials. It goes one step further than a passive waste exchange by actively suggesting business-to-business collaborations. Our expertise is already being acknowledged by Singapore through partnerships and contract awards. Australian built environment company, Leighton Asia, was awarded the design and construction contract for Singapore’s Deep Tunnel Sewerage System (DTSS). This massive integrated Public Utilities Board project aims to meet Singapore’s long term clean water needs through the collection, treatment, reclamation and disposal of used water from industries, homes and businesses. Australian expertise also forms part of research and strategy firm GA Circular which has been working with the NEA since 2018 to conduct commercial and industrial food waste audits. This is assisting Singapore to define food waste categories, driving policy change to combat food waste. Reducing food waste is a priority for Singapore. Concurrently, Singapore is looking to increase food self-sufficiency. To focus this effort, Singapore has launched the ‘30 by 30’ initiative to produce 30 per cent of its food locally by 2030.
The momentum for change and thirst for creative solutions present exciting opportunities. First-movers are well-placed to capitalise on embracing circular supply chains. This means opportunities for Australian companies who already show sustainability leadership in waste management, water management, packaging and agritech.
Australian expertise is already contributing to this national priority. Singapore’s first agri-foodtech accelerator, GROW, is backed by a joint venture between one of the world’s leading investors in food and agri-tech, AgFunder, and Rocket Seeder, one of Australia’s leading agri-food accelerators. GROW is supported by the Singapore Government through its business agency Enterprise Singapore and the Economic Development Board and aims to enhance the local agri-tech and food tech ecosystem. GROW announced its first start up cohort this month with projects ranging from algae-based alternative proteins for plant-based meats to AI tools for monitoring.
Australia is home to world-class expertise at the forefront of these industries. Companies like Visy, a global leader in the packaging, paper and resource recovery industries that provides high quality, innovative and sustainable packaging products and solutions. Visy’s emphasis on closed loop packaging and recycling solutions based on customer needs has affirmed its reputation as one of Australia’s biggest and most innovative waste recovery companies.
It’s an exciting time for innovative Australian companies in waste management, water management, packaging and agri-tech to be in Singapore. The Singapore Government’s strong focus on pursuing a circular economy and achieving targets in relation to waste reduction, sustainability and greater food security present exciting opportunities for Australian companies and potential business and research collaborations between our countries. 7
THE SINGAPORE '30 BY 30' AND THE OPPORTUNITIES FOR AUSTRALIAN BUSINESSES PAUL TENG ROB HULME Co-Founder and Head of Asia Beanstalk AgTech
SINGAPORE currently imports about 90% for its food supply from over 170 countries. This puts it at the mercy of external forces in the exporting countries, most of which are beyond the country’s control. Recent threats of reduced exports by some of its food sources have prompted the government to take action to reduce the country’s vulnerability and achieve greater stability in its supply of food as part of food security. This is a laudable and indeed even overdue move. On Thursday (March 7) Environment and Water Resources Minister Masagos Zulkifli announced in Parliament that the country will aim to produce 30 per cent of Singapore’s nutritional needs by 2030 and laid out the strategy to get there, through the employment of technology, unlocking of physical spaces, developing local talent and getting consumers to support local produce. This announcement in Parliament to raise Singapore’s food selfproduction level from the current 10% to 30% of total food needs by 2030, has come to be called the '30 by 30' strategy, and has raised many questions on capacity, investment and exportability. But this is by no means the only food-related initiative that has been announced in the past year. Earlier in the same month, Senior Minister of State for Trade and Industry Koh Poh Koon announced that the government intended to develop a new 18ha Agri-Food Innovation Park (AFIP) in Sungei Kadut, which will be ready in phases from the second quarter of 2021. This AFIP which is the size of about 33 football fields, will bring together high-tech farming and research and development activities, including indoor plant factories, insect farms and animal feed production facilities. Dr Koh said the vision is for Singapore to be a leader in urban agriculture and aquaculture technology, with a food production model that can be exported to the region. This goes beyond the vision of Singapore achieving a higher level of food security, and pushes for a new paradigm for the country to develop a new economic sub-sector of new technologies which have export value and applicability in other countries! Some other noteworthy areas for investment in the AFIP that would add to its leadership role could be: • Internet-of-Things (IOT) systems for new food systems that incorporate latest sensing and predictive algorithms to optimise production efficiency; • R&D to develop new technologies for animal, fish and plant breeds using modern genomics; • Diagnostics, detection and disease prevention systems in animals, fish and crops;
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Adjunct Professor, Murdoch University and Adjunct Senior Fellow, S. Rajaratnam School of International Studies (RSIS) Nanyang Technological University Singapore
• Protection of food identity to assure integrity of the food delivery system; • Novel (sustainable) food packaging material and systems; • Novel grow-out systems for intensive urban animal, fish and vegetable farming (Land-based Recirculating Aquaculture Systems (RAS), feed/fertilisation, waste disposal, space efficient systems, etc.); • Shared facilities for collaborative research initiatives; and • Waste valorisation/repurposing produce waste under aseptic conditions. In addition to the above, new initiatives include the following: • Formation of an Aquaculture Innovation Centre based in Temasek Polytechnic to derive synergies from some ten institutions in a consortium; and • Announcement of a new R&D program called the “Singapore Food Story” funded through the the Singapore Research, Innovation and Enterprise Council (RIEC), chaired by Prime Minister Lee Hsien Loong, at Singapore $144 Million -https://www.businesstimes.com.sg/government-economy/ singapore-to-invest-more-in-digital-food-tech-cell-therapy-rd The Singapore Food Story would aim to develop collaborative efforts aimed at accelerating progress to commercialise in three areas deemed to be of special comparative advantage to Singapore, namely: 1. Sustainable Urban Food Production; 2. Future Foods: Advanced Biotech-based Protein Production; and 3. Food Safety Science & Innovation. In these three Singapore Food Story R&D themes, there exist numerous potential research areas that could involve public-private collaborations, explicated below: 1. Sustainable Urban Food Production – to strengthen Singapore’s food security via developing smart farming solutions with a focus on urban agriculture and tropical aquaculture, to: a. Increase productivity of local food producers
b. Lower resources and operation costs with resource optimisation c. Improve disease and health management of agri- and aquaculture d. Improve nutritional quality of produce. 2. Future Foods: Advanced Biotech-based Protein Production – to position Singapore as a comprehensive R&D hub for alternative proteins, focusing on plant proteins, microbial proteins, and cultured meat: a. Develop novel biotech-based methods for high-value, sustainable and nutritious protein production b. Discovery, process development and scale up of alternative proteins c. Develop technologies that enable circular bio-economy and improve sustainability of natural resources. 3. Food Safety Science & Innovation – to increase Singapore’s food safety branding using evidence-based science: a. Ascertain emerging safety risks of novel foods b. Develop early warning and predictive modelling systems for emerging pathogens, food frauds, and other food safety risks c. Understand consumer perception and social considerations of food innovations to improve their acceptability. The Australian agribusiness sector is well positioned to meet the increased demands for a sustainable food supply across Asia Pacific. The solid base of good agricultural practice and extension, innovative solution-based technologies and a strong reputation for safe and sustainable supply of food present unique opportunities for Australian businesses looking to scale their product or service offer into Asia. And as an emerging agrifood technology hub for the ASEAN region, Singapore offers a compelling advantage for companies considering a base for operations.
Singapore is a ready gateway for Australian businesses wanting to access markets across South East Asia, and a jump off platform for North Asia. What is unique about Singapore, aside from its central geographic position, is what also drives its current focus around addressing food through the '30 by 30' initiative. Domestic food production is currently limited, and so Singapore arguably presents less of a direct competitive and biosecurity threat to its ASEAN neighbours and rather a hub for value adding food supply channels. The Singapore Government provides a number of incentives for new business wishing to expand operations, led by the Economic Development Board (EDB) and Enterprise Singapore (ESG), as well as a host of agencies who provide support for immigration, business registration, coworking spaces and financial management. And the Australian expatriate community is well supported through the Australian Chamber of Commerce (AUSTCHAM), which provides both private and professional network support for those living and working in Singapore, as well as representing Australian businesses. Austrade Singapore is also able to assist with market information and tailored services, or make a referral to specialist service providers as required. The ambitious programme to increase Singapore’s food security and to position itself as a source of new urban agricultural technologies relies on the continued development of investment to improve production efficiency and sustainability. This is reinforced by the Asia Pacific base of almost all the key multinational players involved in animal health, crop production (digital farming, crop protection, seed and fertiliser), food processing and distribution. These are broadly represented across Asia Pacific by the major industry peak bodies CropLife International, Food Industry Asia and the Singapore Food Manufacturers Association, all based in Singapore. Asian farming systems are facing increasing threats to sustainable food production, impacted by climate change, market dynamics, lack of infrastructure and lags in innovation adoption. Scaling of well-established extension practices through digital platforms, service providers and disruptive technology is required. Australia has a significant opportunity using well-established good agricultural practice and knowledge transfer in regenerative farming, genetics, nutrition, crop protection, harvest and postharvest storage technologies to support resilient food production systems. Grow Asia is a multi-stakeholder partnership platform that engages Southeast Asia’s farmers, governments, companies, NGOs and other stakeholders to develop inclusive, scalable, and marketbased value chains that benefit smallholder farmers. Based in Singapore, Grow Asia was established by the World Economic Forum, in collaboration with the Association of Southeast Asian Nations (ASEAN) Secretariat. Grow Asia is an excellent conduit for extension of good agricultural practice, and a natural collaboration partner for agribusinesses wishing to gain insights and scale in South East Asia.
Rob Hulme (Beanstalk) and Peter Barber (ComCrop) with ComCrop's indoor facility located in Fairprice Vivo City
Recent moves by the Singapore Government to lift investment in and around Agrifood Technology development has produced several new initiatives. The Seeds Capital investment of SGD$90 million has seen a number of new agrifood tech Accelerators form in Singapore that will support the startup ecosystem, including GROW (a JV between Agfunder and Rocket Seeder), Trendlines Agrifood Fund, VisVires New Protein, ID Capital, Hatch, The Yield
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>> THE SINGAPORE '30 BY 30' AND THE OPPORTUNITIES FOR AUSTRALIAN BUSINESSES and Open Space Ventures. Temasek Holdings, US food giant Tyson Foods, and Enterprise Singapore have backed Big Idea Ventures, a new fund looking to raise US$100 million to invest in startups focused on plant-based food, alternative protein and related food technologies. And it was recently announced that 500 Startups is the latest partner to join ESG's Global Innovation Alliance (GIA), a joint initiative between ESG and Singapore's Economic Development Board that supports a network of Singapore and overseas partners in major global innovation hubs. For Australian businesses looking to Singapore, the 2016 Comprehensive Strategic Partnership (CSP) provides a unique framework to facilitate the exchange of professionals, technology and trade in food and agriculture between Australia and Singapore. The CSP provides for a deeper collaboration in science research and innovation between both countries, led by CSIRO and A*STAR, the national science agencies of Australia and Singapore respectively,
Global Table - Seeds&Chips event (Melbourne 2019)
on food and agriculture. A common theme was the increasing part that entrepreneurs, innovators, investors and agribusiness play in addressing challenges and capturing opportunities that exist across Asia Pacific food supply systems. In addition to playing a significant role in supporting Singapore’s '30 by 30' initiative in domestic food production and food security, Australia also has increasing opportunities in the supply of safe, sustainably produced food that has a strong provenance storyline. The current value of Australian farm-gate production is approaching AUD$60B, with aspiration to grow to AUD$100B.
EvokeAG event (Melbourne 2019)
who have ongoing initiatives unlocking innovative solutions in agrifood technology covering aquaculture, vertical farming and sustainable protein production. The CSP also provides for the Singapore-Northern Australia Agribusiness Development Partnership, encouraging joint development in securing reliable food and agribusiness supply chains through investment-led development of northern Australia. Despite the legacy of agricultural innovation in Australia, according to AgFunder less than 0.2% of ~AUD$17B in international agrifood tech investment is made in Australia. What is required to attract further investment is a combination of patient capital and access to deal flow. If Australia promotes a collaborative, regional approach to developing the agrifood tech ecosystem along with Singapore this will provide a more attractive proposition to the global investor network. The CSP clearly provides this framework. There are several great examples of agrifood ecosystem development across both Singapore and Australia. The 2019, Melbourne hosted evokeAG (February) and Global Table - Seeds&Chips (September) conferences while Singapore will again host Rethink AgriFood Innovation Week (November) after launching in 2018. All were enormously successful, bringing together thousands of delegates from across and Australia, Asia Pacific and global regions to focus 10
Howard Shapiro and Rob Hulme Fireside Chat, Global Table Seeds&Chips (Melbourne 2019)
New developments in production areas across Northern Australia also bring opportunities to link export transfer hubs that provide access to new markets, and this is a current investment focus in a number of areas. The key message – there are an increasing number of new startups and commercial enterprises engaged in food supply in Singapore, from importers to farming and food processing, including indoor plant factories growing a range of fruit and vegetables and land-based fish farms. Australian agribusinesses can look north to Asia and use Singapore as a base to scale products, services and technologies!
TRENDS IN AQUACULTURE DR ALISTAIR DOUGLAS Founder and Partner Eachmile Technologies
Aquaculture, the farming or ranching of animals and plants in either marine, brackish or freshwater, is one of the fastest growing industries on the planet. With production from capture fisheries plateauing at 90 million tons per year, we have seen aquaculture grow to equal what we catch from the wild in just a few decades.
Soldier Fly Larvae provide a unique source of protein for fish feed - and for us!
are short-circuiting the food chain to grow fish oil from algae. These innovations are all helping to underpin the sustainable development of the industry. Other ways to improve the use of feed have been realised through genetic selection. That is, selecting strains that not only maximise the genetic potential but also increase feed intake, and utilisation as well minimising the amount of energy animals need to spend on maintaining basic metabolism. WorldFish, a publicly funded research organisation whose goal is to reduce poverty and hunger through aquaculture, created Genetically Improved Farmed Tilapia (GIFT) that grow up to 85% faster than other tilapia.
It makes sense. The planet is 75% water. The animals and plants that grow in water are neutrally buoyant and do not need to invest energy into growing thick bones or trunks to fight gravity and hold themselves up off the ground. They can instead divert that energy kelp can grow as much as two feet in a day! Feed conversion ratios - the amount of feed used to get a kilogram of meat - are the lowest in aquatic animals. This means that we can grow a lot more for a lot less. As a result, more of the salmon, barramundi, tilapia, catfish etc. consumed in the world today is from farms than from the wild. Same for oysters and mussels. To feed the more than 10 billion people that might be on the planet in 2050, it is estimated that aquaculture needs to grow 10% a year to meet that demand. However it must do so sustainably and there are a number of challenges to meet. One of the most critical challenges we face is the feed used in aquaculture. Known as aquafeeds, there has been reliance on fishmeal and oil from the capture and milling of wild forage fish. Thus the aquafeed industry has been examining fishmeal and fish oil replacements and has been using plant-based sources of protein such as soy and legumes. However, plants can contain antinutritional factors and thus companies such as DSM are creating enzymes and other supplements to improve feed digestibility and the health and welfare of the animals, as well as minimise waste and the environmental impact of feeds. Other biotechnology companies such as Calysta and Protix respectively, are using fermentation technology and insect larvae to provide protein, and Veramaris
In addition to feed and genetic developments we are also seeing integrated multi-trophic aquaculture systems: where the waste from growing carnivores can be used to grow other animals and plants in the same system - both improving productivity, returns on investment and reducing environmental impact. Here in Singapore, in collaboration with the local campus of Australia’s James Cook University and through the establishment of the Aquaculture Innovation Centre, there will soon be a lot more research underway into this very important industry. Dr Alistair Douglas studied aquaculture at James Cook University in the '90s and as Founder and Partner at Eachmile Technologies works at the intersection of industry, sustainability and technology.
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ACHIEVING FOOD SECURITY WITH AQUACULTURE JAMES COOK UNIVERSITY SINGAPORE
People are eating more fish than ever before. Globally, consumption of fish as food per capita grew from 9.0 kg in 1961 to 20.2 kg in 2015, at an average rate of about 1.5 per cent per year. However, the world is not catching that much more wild fish than it did in the 1980s.1 Aquaculture is responsible for this positive disparity, and will become increasingly important as we work towards achieving our food security goals. James Cook University (JCU)’s aquaculture expertise reinforces its role as a critical component of the broader research and development ecosystem in Singapore. In fact, James Cook University is globally recognised for its strengths in aquaculture R&D, training and advisory services.2 This enables JCU to lend its skills and knowledge in support of Singapore’s '30 by 30' strategy - which aims to increase the nation’s food production levels from 10 per cent to 30 per cent of total food needs by 2030. Currently, Singapore imports 90 per cent of its food supply. If this does not change, there could be severe repercussions on the nation’s nutritional needs.
Professor Dean Jerry, Dean of Research for the Singapore campus of James Cook University, commented on this situation, “For a country like Singapore that is so dependent on imports as its food supply, trade embargoes and geopolitical manoeuvring may impact on the ability of nations to import food in the future. It is thus extremely important that the country builds a buffer and has a degree of resilience to any perturbations in its food supply in the future.” He adds, “The way it can do this is to foster local production and/or alternative forms of food and protein generation, along with helping establish new trading partnerships. Aquaculture is the ideal industry to foster to help meet Singapore’s food security goals.” LEADING AQUACULTURE RESEARCH & DEVELOPMENT At James Cook University, aquaculture is critical to our efforts in preparing for the future, as well as improving the wellbeing of people, communities and the environment. Due to our investment in this field, we have highly-skilled scientists and researchers alongside cutting-edge tools and facilities at our disposal, which can add great value to Singapore’s aquaculture R&D ecosystem.
The JCU aquaculture facility used for staff and student experimental research and teaching
Professor Chris Rudd OBE, Deputy Vice Chancellor and Head of Campus, Singapore and Professor Dean Jerry at the Aquaculture Research and Teaching Facility
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In particular, the Aquaculture Research and Teaching Facility - which launched in the Singapore campus of JCU this year - allows us to expand our understanding of aquatic life and identify more efficient methods of aquaculture production.
Additionally, JCU established a research institute on 27 September 2018 - the Tropical Futures Institute (TFI) - which takes advantage of the university’s research capability and strength, and helps to deliver world-class research in the region. Notably, the first research pillar of the Tropical Futures Institute is focused on sustainable production of aquaculture species. Furthermore, Professor Jerry underscores the human element behind the university’s aquaculture efforts: "JCU has experts covering all the major pillars of aquaculture research and development needs, and can reach back into our Australian capabilities where we have one of the largest teams globally working across all areas of tropical aquaculture that can provide world-class multidisciplinary focused solutions for the local aquaculture industry."
Food and Agriculture Organization of the United Nations. The State of World Fisheries and Aquaculture 2018 (SOFIA): http://www.fao.org/3/ I9540EN/i9540en.pdf 1
E.g., https://www.sfa.gov.sg/docs/default-source/publication/annualreport/ava-ar-2017-18.pdf 2
For find out more about our Aquaculture Research and Teaching Facility, visit http://bit.ly/30jrzMQ or scan the QR code below.
CHALLENGES IN AQUACULTURE Dr Katheline Hua, Associate Professor and Principal Research Fellow in Aquaculture at James Cook University, points out that one of the biggest challenges facing aquaculture is “the price and availability of feeds”. She elaborates, “Currently about 70% of aquaculture production depends on formulated aquaculture feeds. Historically, fish meal has been the primary protein source in aquaculture feeds. However, the demand of fish meal produced from wild fish is unsustainable.”
JCU is AustCham Corporate Patron Member
At the moment, a variety of plant protein ingredients and animal by-products have been used as alternative protein sources in aquaculture feeds. That said, they may place stress on agriculture land and water resources. Dr Hua emphasises that “innovative alternative protein sources are therefore urgently required for the continued growth of aquaculture,” which may include fishery and aquaculture by-products, insect meals, bacterial biomass, yeast and microalgae, seaweed, or even food wastes. JCU takes a multidisciplinary approach when it comes to tackling such industry problems, bringing different proficiencies together to understand and solve the issue in a more comprehensive manner. OVERCOMING OBSTACLES TOGETHER To truly support the nation’s food security goals, James Cook University is also committed to partnering with other innovative companies and institutions. For example, JCU is an important part of the nine institutions supporting the Aquaculture Innovation Centre (AIC). This allows JCU to share our vast knowledge and experience in aquaculture, particularly in the application of genetics to improve the productivity of aquatic organisms. These efforts are crucial in addressing the challenges faced by the world, which include sustainable food production and food security. Therefore, it is our responsibility to follow through on our bold commitments and create positive change.
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ADDING ALTERNATIVES INTO THE PROTEIN MIX STEPHEN FORSHAW Head, Public Affairs and Managing Director, Australia & New Zealand Temasek
Alternative proteins could be a new, sustainable pathway to meeting the future food demands of a growing global population Global protein demand is increasing rapidly, thanks to a confluence of factors such as a growing population, rapid urbanisation and rising incomes. There are no signs of a plateau for global meat consumption – production today is nearly five times higher than in the 1960s.1 Even so, demand is still expected to outpace supply, as we seek to feed a population of nearly 10 billion by 2050 – of which more will become increasingly discerning about their food choices, opting for diets that are more diverse. The challenges of providing sufficient and more nutritious food come against a backdrop of expectations to do so more sustainably. Livestock farming is already one of the largest users of land and fresh water globally, and a not-insignificant contributor of greenhouse gas emissions – especially one of the most harmful: methane. Providing the food needs of nearly 10 billion people with less resources will be a major challenge of this century. We need additional, sustainable pathways to ensure food security for future generations. A NEW SUPPLY OF PROTEIN Alternative proteins have been attracting recent attention as a sustainable substitute. The concept itself is not new – mock meat for vegans and vegetarians has been around for a long time. What has changed is the quality of this new generation of alternative protein, made possible by advanced technologies in the lab. Plant-based proteins are rising stars on this stage. Impossible Foods, one company in this space in which Temasek has invested, has already become a familiar global name, with its products, such as beef patties, made with plant-based ingredients. The products do not sacrifice on taste and have high protein values. They have received satisfying reviews, even from meat-lovers. In summary, they are a new source of protein that could meet both sustainability and consumer acceptance objectives. However, they are not cheap – partly because the supply chain for their ingredients is less established than that for traditional animal protein. Despite being priced at a premium today, there is a market of increasingly eco-conscious consumers who are willing to pay for these products.
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Meanwhile, cultured meat, or meat literally ‘grown’ in bio-reactors, is another emerging field to watch. Cell-based products are not yet priced at commercially acceptable levels, but costs have been dropping rapidly. When Memphis Meats produced its first labgrown meatball in 2016, it cost nearly US$40,000 per kilogram to produce. By January 2018, it had dropped to a little over US$5,200 per kilogram. It is not just meat but also dairy that is undergoing a revolution. Companies like Perfect Day are producing animal-free milks, cheese, yoghurts and ice creams. These are not the usual soy or almond substitutes; they contain the same dairy proteins as cow milk, and taste like it too. Such innovations are not just happening in the US but all over the world, with companies adapting to local taste buds. In Singapore, local start-up Shiok Meats unveiled a cell-based shrimp dumpling (or siew mai) earlier this year. Impossible Foods also arrived in Singapore to much excitement for food-lovers here, while in Australia, V2Food is developing plant-based protein products, and winning interest from quick service restaurants. Looking forward, researchers are also exploring insects, algae and fungi as sources of protein. Some may be for human consumption, while others may replace proteins used in animal feed, allowing animal agriculture to become more competitive and sustainable. Two of Temasek’s investments in this space include InnovaFeed, which produces fish feed with insect protein, and Calysta, which uses microorganisms to convert methane into feed protein. These innovative solutions serve as supplementary sources to meet the overall demand for protein, not just by humans but also animals, including livestock, poultry and fish. DIVERSIFYING A TRILLION-DOLLAR GLOBAL MEAT INDUSTRY Four years ago, the alternative protein market was in its infancy, with only around 20 identifiable start-ups globally. Today, there are at least a hundred, at a quick count – and the numbers are growing. Even as traditional meat continue to supply most of the world’s protein needs in the foreseeable future, alternative protein will be an important part of the mix. Barclays analysts expect the alternative protein market to reach US$140 billion, or 10% of the global meat industry, over the next 10 years.2 As an investor looking to do well and also do good, Temasek sees alternative protein companies offering a strong value proposition, while being a sustainable solution for the world. There is long term
growth potential in this space – with that view, Temasek has invested in a total of eight start-ups in this space, including Impossible Foods and Perfect Day. Governments and regulators also play a big role in this future. The main challenge lies in food standards and regulatory acceptance of new proteins. There are also differences in regulations between jurisdictions that add complexity. It is no longer a purely agriculturalbased landscape and ecosystem. Like many other areas, the technology underpinning these changes are evolving rapidly, and regulatory regimes need to move as well. However, there are signs of growing acceptance as governments see the potential of alternative protein as a viable food source for their populations. In Singapore, the government allocated S$144 million to fund innovative agri-food projects, including lab-grown meat. This is part of its ‘30 by 30’ vision – to produce 30% of the nation’s nutritional needs locally by 2030, up from less than 10% currently. Together with the growing agri ecosystem, which brings together world-class research institutes, home-grown innovators, and global accelerators, incubators and investors, Singapore looks well-placed to nurture innovations like alternative proteins targeted at an Asian market. This is important when we see that Asia’s population is amongst the fastest-growing in the world, and with vastly different taste preferences than the West.
THE RECIPE FOR A MORE SUSTAINABLE WORLD Taking a step back, traditional meat will continue to play an important role in feeding a world hungry for protein. Factors like scale of production, lower price points and consumer preference point to this. New technologies in this industry are also helping to lower its environmental footprint, and this needs to continue at a faster pace across the industry. For example, DSM is developing cow feed which biologically reduces the animal’s methane emissions. At the same time, adding alternative protein to the mix will help to alleviate the strain on existing systems and lessen the ecological impact of the production of protein products for human consumption. Even established meat players like Tyson have started their own forays into this space. Building a sustainable future requires the reimagining of our food systems – this means new ways of catering to the demand for protein to feed a growing population, while reducing the impact of doing so on our planet. UN Food and Agriculture Organization, “Meat production across the world” (Aug 2017) 1
CNBC, “Alternative meat to become $140 billion industry in a decade, Barclays predicts” (23 May 2019) 2
Temasek is an investor in Impossible Foods, Perfect Day, InnovaFeed and Calysta. Temasek is also an investor in Australian deep tech start-up fund, Main Sequence Ventures, which is an investor in V2Food, as well as the New Protein Fund, which is an investor in Shiok Meats.
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NEW EXPORT POTENTIAL FOR AUSTRALIAN FOOD INNOVATION LIZA NOONAN ASEAN Director CSIRO
The Singapore Food Story calls out the importance of innovation in Singapore’s ambition to attain a sustainable and nutritious food supply from an increasingly unpredictable planet. The drive to grow more of its own food needs locally - the well quoted ‘Singapore 30 by 30’ or 30% of food requirements grown domestically by 2030 - is a clear call to action for Singapore to reduce its vulnerability to external forces for its own food security. ‘Singapore 30 by 30’ is a significant export growth opportunity for Australia’s Food and Agribusinesses that goes beyond final food and beverage products. There is much potential for Australian organisations to collaborate with a country that is investing to solve major challenges in urban food production, food system sustainability and safety of food supply. These challenges are highly relevant to a world needing to feed 10 billion people by the year 2050, with 50% of that population expected to be here in Asia. The CSIRO, Australia’s national science agency, recently re-released its 2017 Food & Agribusiness Roadmap detailing value-added growth opportunities for Australian businesses, including growth opportunities in South-East Asia. The Roadmap was updated to reflect the significant traction - illustrated by investments and formation of new companies in key trends such as sustainable proteins, food traceability and the shift towards embracing circular economy technologies to reduce the huge amount of food waste. Consumers are evolving too, demanding convenience for both in- and out-of-home consumption, a broader range of flavours and food-based experiences, customised offerings, more information about how and where their purchase originated, and products that improve mental and physical wellbeing. V2 Foods and Lumachain are strong examples of two new Australian businesses solving big problems in the global food industry. V2Foods was formed last year with CSIRO scientists to create a tasty plant-based alternative to animal meat that's better for people and better for the planet. Lumachain brings transparency to global supply chains, benefiting producers, enterprises and consumers, with a unique approach to track and trace the origin, location and condition of individual items in a supply chain in real time. CSIRO is also enthusiastic about its new collaboration with Singapore’s A*STAR, supported by the Australia and Singapore governments, to develop "Innovative Foods for Precision Health". The new program seeks ideas from Australian and Singaporean researchers with business collaborators to support innovations in foods designed for positive health outcomes, deepen understanding of consumer readiness and acceptance towards such foods, and demonstrate how data science can be used to inform strategies to improve the health and safety outcomes of innovative foods. If you’re an Australian business interested in bringing food innovation to South-East Asia let us know at asean@csiro.au
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FAIRMONT SINGAPORE & SWISSÔTEL THE STAMFORD HOME TO THE WORLD'S FIRST URBAN AQUAPONICS FARM
MARCUS HANNA General Manager Fairmont Singapore & Swissôtel
The first of its kind in the world and an innovation breakthrough for the hospitality industry, the urban Aquaponics initiative undertaken by Fairmont Singapore and Swissôtel The Stamford is yet another stand made by the Hotels to do their part for the environment and help build a greener future. Aquaponics offers a sustainable solution to traditional agriculture with substantially higher output from less water, land use and labour. Aquaponics is the combined process of aquaculture and hydroponics. It is a sustainable method in which a full meal can be grown, in just one system. Fish and vegetables grow together in an integrated system – fish waste is converted to nitrates, which the vegetables use as fertilisers; while the latter filter and clean the water for the fish, lowering the consumption of water as compared to soil gardening. The hospitality industry has often been in the limelight pertaining to discussions relating to food waste and energy consumption. With the advancement of technology and the resources available to us today, we are excited to be able to make our vision for sustainability a reality, as it becomes increasingly easier to find viable solutions without compromising our guests’ experience. We are thrilled to be the first urban hotel in the world to embark on this Aquaponics project. We see great potential in how this will enable us to lower water usage and power consumption as we make affirmative contributions to future global food security. This also greatly reduces the carbon footprint of food as the Hotels can now produce and supply more of what we need to use, to the restaurants and Convention Centre within the vicinity of our own complex; and rely less on external purchase and transportation.
With the launch of the initiative, the Hotels are actively aligned with and pledging their support towards Singapore’s 2030 vision – The Ministry of Environment and Water Resources recently announced an ambitious ‘30 by 30’ goal to produce 30 per cent of Singapore’s nutritional needs locally by 2030; and are confident to meet the increase in consumer demand for organic and fresh food on-the-go; to reduce water consumption; and to achieve a short turnover for produce supplies required by various outlets on property. BACKGROUND AND PAST INITIATIVES: Fairmont Singapore and Swissôtel The Stamford have always been committed to sustainable development. A herb and vegetable garden was started in July 2008 as one of Singapore’s pioneering urban farming projects to provide the various food and beverage establishments in the hotel with a steady harvest of organically grown herbs such as rosemary, thyme and mint. A testament to the success of this project, the garden expanded with the completion of a new garden in June 2013, reaping the first harvest later that year in November 2013. New highlights include a more extensive collection of micro-greens, vegetables, fruits and edible flowers that are produced based on the principles of organic production; whereby crop rotation, organic pest management, cultivation of a worm farm to assist in our soil programme, use of natural compost that is derived from the hotel’s kitchens, as well as companion planting are being practised. The garden has since been cleared to make way for the Aquaponics project, which will see a significant output of produce and ingredients – up to 1200kg of leafy vegetables and 300kg of fish per month. Examples include small cucumber, spinach, tomatoes, baby arugula, romaine lettuce, edible flowers and herbs like fresh coriander and dill and even fish like tilapia, jade perch and barramundi. These produce have been identified as the most consumed ingredients by the Hotels and will be grown first. The initiatives undertaken by both Hotels are aligned with Accor Hotels’ signature sustainability programme, Planet 21, which aims at providing a positive hospitality experience across four strategic pillars – employees, clients, partners and local communities – with a special focus on the areas of sustainable food and eco-designed buildings. Accor was most recently awarded the Best Sustainable Hotel Chain at the inaugural M&C Asia Stella Awards, a MICE industry-specific accolade launched by Northstar Travel Group, with judging by meeting planners and MICE professionals.
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UPCOMING EVENTS
UPCOMING EVENTS To find out more about our events, visit our website at WWW.AUSTCHAM.ORG.SG
OCTOBER Networking Event
Thursday 24 October 2019 Business Connects October
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.
NOVEMBER New Members
Friday 15 November 2019 Meet the Board
Meet the Board is an opportunity to welcome you to the Chamber where you will: learn more about what AustCham can do for your business; network with other new members to promote yourself and your company; and directly engage with board members. AustCham’s board consists of 12 members who are leaders in their fields from various industries who have lived and worked in Asia for a number of years.
DECEMBER Signature Event
Thursday 5 December 2019
More information coming soon.
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Saturday 8 February 2019
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OUT & ABOUT
AUGUST 2019
SINGAPORE 30 BY 30 THE OPPORTUNITIES FOR AUSTRALIAN BUSINESSES Friday 30 August 2019
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Our half-day workshop 'Singapore 30 by 30' was a three-part panel discussion held before Australia Fare. Expert panelists shared insights and covered topics like Singapore's '30 by 30' vision, agritech, aquaculture and the evolving world of alternative proteins. They also shared how Singapore's '30 by 30' vision will provide opportunities for Australian businesses and how Singapore and Australia will achieve this goal.
OUT & ABOUT
AUGUST 2019
AUSTRALIA FARE Friday 30 August 2019
Back for the second year, Australia Fare was held at the Australian High Commission. Guests experienced Singapore's best selection of Australian products and services. The event gave members and guests an opportunity to explore and speak to the people behind the high quality businesses for which Australia is so well known.
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OUT & ABOUT
AUGUST 2019
AUSTRALIA FARE
OUT & ABOUT
AUSTRALIA FARE
AUGUST 2019
NEW MEMBERS
THANK YOU
THANK YOU
Thank you to our Corporate Patrons and Gold Corporate Members Corporate Patron Members
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NEW MEMBERS
NEW MEMBERS Welcome Gold Corporate Members
Telstra www.telstra.com.au Simon Smith Head of Regulatory Affairs Asia
Richard Thomas Head of Service Management
Corporate Plus Members
Blackmores
www.blackmores.com.sg
Australian Trade and Investment Singapore www.austrade.gov.au
Australian High Commission SIngapore www.singapore.embassy.gov.au
Peiling Yu Global Activation Director
Amelia Walsh Trade Commissioner
Rachel Dunstone Counsellor
Ampol
www.ampol.com.sg
Ascender HCM www.ascenderhcm.com
Shoosta www.shootsta.com
Chase Bailey General Manager
Mark Roberts Regional Sales Manager
Antoine Bouchacourt Vice President - Asia
Brent Merrick General Manager, Trading & Shipping
Matt Greatorex Business Development Manager - Asia
King & Wood Mallesons www.kwm.com Will McCosker Partner
TO LEARN MORE ABOUT OUR AUSTCHAM MEMBERSHIP Visit austcham.org.sg or contact us members@austcham.org.sg
Corporate Enterprise ALTIOS International Icon Wines Pte Ltd
Justine Las Project Manager
Sheirly Lugito Director
AustCyber
ISB
Michelle Price CEO
Stacey Halliwell Consultant
Chockz Management Consultants
JW Marriott Singapore South Beach
Ramasamy Chockalingam Managing Director
Stephanie Fabregoul Managing Director
FCM Asia Timothy Williams CFO
Individual Ana Carapini Head of Innovation DNATA Singapore John Knox
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
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How to redeem your points? Business Connects or Business Briefing Xmas Drinks or Australia Fare President Lunch & Business Awards Australia Day Ball
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NEWS FLASH PLQ Mall Set to Welcome Shoppers on 30 August Strong line-up office tenants Paya Lebar Quarter (PLQ) by Lendlease continues to realise its vision of transforming Paya Lebar into a vibrant business and lifestyle hub. The three Grade A office towers — home to 18 multi-national corporations and leading Singapore organisations — and PLQ Mall are approximately 90% leased and under final negotiations. A preview of PLQ Mall will commence on 30 August, with grand opening celebrations set for 24 October. The approximately S$3.6 billion landmark development is Lendlease’s largest to date in Singapore and home to its new Asia headquarters. Its residential component, Park Place Residences at PLQ, is over 99% sold with just three units available for sale. The new city precinct supports Singapore’s car-lite vision with its superb connectivity. PLQ has direct links to the dual line Paya Lebar MRT interchange and seamless connection to the wider Park Connector Network. The 22,000-strong workforce and one million residents within a seven-minute walking radius of PLQ will benefit from the excellent connectivity to the rest of Singapore through PLQ. A placemaking project, PLQ will bring a wide range of alfresco dining options at PLQ Parkside; a sheltered and activated PLQ Plaza designed to host year-round events, festivals and celebrations, outdoor kiosks embedded with programmable LED light display; a water fountain; and an outdoor children’s play area amidst 100,000 square feet of lush greenery that is both pedestrian and personal mobility device-friendly. “We are proud to be contributing to the Urban Redevelopment Authority’s (URA) vision of the transformation of Paya Lebar, the most centralised sub-regional business and lifestyle hub in Singapore. PLQ is a great showcase of Lendlease’s core expertise in urban regeneration and placemaking by combining quality retail, entertainment and lifestyle options with community-centric spaces that resonate with the rich heritage and culture of the area,” said Tony Lombardo, CEO, Asia, Lendlease. Home to leading corporations and Lendlease’s first global flexible workplace solution As an integral component of the URA’s plans for the 12-hectare Paya Lebar Central precinct to be a subregional business hub for Singapore, PLQ Workplace, with close to 900,000 sq ft of space, is home to leading enterprises including CBRE, JLL, PropertyGuru, NTUC Income, Great Eastern, Intellectual Property Office of Singapore (IPOS), Bayer, as well as Virgin Active’s first fitness club in the east. Leveraging its experience in developing hundreds of workplaces for leading corporates globally,
Lendlease has also launched its inaugural flexible workplace solution, csuites, at PLQ. The new flexible workplace combines the benefits of premier corporate offices, such as technology integration, privacy and security with the advantages of shared services and collaborative spaces offered by co-working. csuites offers companies the flexibility of shorter leases, seamless move-in experience and sustainability credentials, while enabling them to retain their own culture and identity. New concepts join a quality retail cluster The quality of brands and new retail concepts at PLQ Mall, with over 200 shops, add another dimension to the diverse options already available for consumers in the area.
One of the most sustainable precincts in Singapore PLQ is on track to be one of the most sustainable precincts in Singapore. All seven buildings have received BCA Green Mark Platinum – the three office towers and retail mall have been awarded BCA Green Mark Platinum for Non-Residential Buildings NRB: 2015 (GM NRB: 2015) and Park Place Residences received BCA Green Mark Platinum for Residential Buildings. In addition, the three Grade A office towers are the first commercial development in Singapore to register for the WELL Core and Shell certification, the world’s first building standard focused exclusively on increasing the wellbeing and productivity of occupants. csuites is also on track to be the first flexible workplace product to achieve the Building and Construction Authority’s (BCA) Green Mark Healthier Workplaces certification. PLQ is also the first private mixed-use development to secure the Public Utilities Board’s (PUB) Active Beautiful and Clean (ABC) waters certification. PLQ Mall set to welcome shoppers on 30 August. Strong lineup of quality office tenants and new retail concepts at Paya Lebar Quarter.
OCT / NOV 2019 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
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