IN HONG KONG July/August 2012
w w w.britcham.com
GROWING TOGETHER Letting Hong Kong’s Children Learn about Green Issues Not For Sale
Contents Child Homelessness in Mongolia
4 Chairman’s Message
30 Shaping the Future
6 Growing Together
32 Child Homelessness in Mongolia
10 Keeping the Peace
34 Henley Business School
12 Internationalised RMB
36 Annual Ball
14 Are You Communicating Effectively?
38 Upcoming Events
16 Clearing the Air
39 Perspective and Sterling Members
18 Insight in Hindsight
40 Member Discounts
20 Talent Challenge
42 Member Get Member 2012
22 CSI Accounting
44 News and New Appointments
26 Times of Turmoil
45 New Members
28 Under a Stone
46 Shaken Not Stirred
Britain in Hong Kong Editor Sam Powney Design Winnie Li Lilian Yu Ken Ng Advertising Contact Charles Zimmerman Project Management Vincent Foe
Jointly Published by Speedﬂex Medianet Ltd and The British Chamber of Commerce in Hong Kong 1/F, Hua Qin International Building 340 Queen’s Road Central, Hong Kong Tel: 2542 2780 Fax: 2542 3733 Email: info@speedﬂex.com.hk Editorial: sam.powney@speedﬂex.com.hk Advertising: charles@speedﬂex.com.hk
British Chamber of Commerce Secretariat Executive Director CJA Hammerbeck CB, CBE General Manager Cynthia Wang Marketing and Communications Manager Emily Ferrary Special Events Manager Becky Roberts Events Executive Mandy Cheng Business Development Manager Dovenia Chow
Membership Executive Lucy Jenkins Accountant Michelle Cheung Executive Assistant Jessie Yip Secretary Yammie Yuen Ofﬁce Assistant Sam Chan
Room 1201, Emperor Group Centre, 288 Hennessy Road, Wanchai Tel: 2824 2211 Fax: 2824 1333 Website: www.britcham.com
© All published material is copyright protected. Permission in writing from the Publishers must be obtained for the reproduction of the contents, whole or in part. The opinions expressed in this publication are not necessarily the opinions of the Publishers. The Publishers assume no responsibility for investment or legal advice contained herein.
Message Someone once said that forecasting is very
addressed from the perspective of British
difficult, especially if it’s about the future.
business in the city. We have posted this
So while much business discussion today
letter on our website.
centres on how uncertain prospects are, it is
As we continue to present the Chamber’s
worth remembering that the future is always
views to the administration over its term,
uncertain - indeed, a lot of the past is pretty
our aim will be to focus on a limited number
of major concerns. For our voice to make
In planning for the uncertain world ahead, hearing
a difference, it needs to express a clear message on
other people’s perspectives is often helpful. Hence,
vital issues, rather than trying to shout about each and
one function of the Chamber is to provide events and
every concern that we could pursue. If you can find
opportunities for discussion that may help you take better
time between watching the Olympics and relaxing in a
decisions for your businesses.
somewhat quieter Hong Kong during August, please let
We trust that the full programme of events this summer will provide value in this respect. Do attend as many as you ﬁnd relevant, to provide opportunity for debate with
members of the General Committee know where you think our emphasis should be, so that we can genuinely represent our wider membership.
other members. In my experience with the Chamber,
Finally, I would like on behalf of all us, to say goodbye
many of the best sessions flow from the discussion
and thank you to Dovenia Chow, who is leaving us for
following the presentation, rather than the presentation
more artistic endeavours at the Asia Art Fair. She has
itself. Please also tell us what topics you would find
been an excellent member of Christopher’s team and will
useful, so that we can work them in to our events
be sorely missed.
calendar. We hope Hong Kong’s new Government will also take on board different perspectives to aid its decision making, as it tackles not only the uncertainties but also some of the “negative certainties” of Hong Kong today, many of which are becoming even more visible in the run up to the elections. On your behalf, I wrote to the new SAR Chief Executive on his first day in office, to set out the Chamber’s views on the key issues that need to be
Chairs of Specialist Committees Business Angel Programme Neil Orvay Asia Spa & Wellness Limited
Environment Committee Anne Kerr Mott MacDonald Hong Kong Limited
Logistics Committee Mark Millar M Power Associates
Small & Medium Enterprises Committee Kate Kelly K2PR
Business Policy Unit Tim Peirson-Smith Executive Counsel
Financial Services Interest Group Debbie Annells Azure Tax Consulting
Marketing & Communications Committee Adam O’Conor Ogilvy & Mather Group
Strategic Supply Chain Forum Dominic Jephcott Vendigital Limited
China Committee David Watt DTZ
HR Advisory Group Brian Renwick Boyden Search Global Executive
Real Estate Committee Jeremy Sheldon Jones Lang LaSalle
Women in Business Committee Sheila Dickinson The Fry Group
Construction Industry Group Derek Smyth Gammon Construction
ICT IT Committee Craig Armstrong Standard Chartered
Scottish Business Group John Bruce Hill & Associates
YNetwork Committee Alison Asome
Education Committee Stephen Eno Baker & McKenzie
C ove r S t o r y
Growing Together For a pilot scheme, it’s proven remarkably successful. The children of 10 local schools and 10 international schools seem overwhelmingly happy with the results. Indeed, for the most part, they have eaten them… In October last year the Chamber’s Environment Committee launched a one year pilot programme, kindly sponsored by HSBC, during which students have grown microgardens and used Bokashi composting systems to foster their awareness of environmental and sustainability issues. Microgardens, for those not in the know, are trunksize soil beds, rich with specially formulated multi-grow, in which all manner of vegetables can thrive. It might seem a disembodied way to go about raising crops, but it has proven particularly effective in getting children interested in growing vegetables and by extension, to start them thinking about diet and even the wider environment. Supplied by The Green Patch, who are based on Lamma Island, the microgardens are set up either as a tiered terrace or a raised bed garden. The boxes are made from 95% recycled uPVC, which has a life span of at least 20 years, and helps maintain stable growing media temperatures and allows intensive production of seasonal South China vegetables, herbs and ﬂowers. The kits come with a growing guide booklet, a planting calendar speciﬁc to Hong Kong, a mini tool and watering can, and two more packs containing fertiliser and starter seeds. In one of the world’s most crowded and concrete environments, growing plants in a portable plastic box is a practical way of using limited space. HSBC therefore agreed to sponsor microgarden kits for all 20 schools involved in the Growing Together scheme. Martin Taylor, a member of the British Chamber’s Environment Committee and one of the Growing Together project’s chief co-ordinators, explained its pioneering aspect, “This is the first time, to my knowledge, that an initiative like this has linked the independent and local schools together in a single project. The feedback from the schools has been in almost every case, extremely enthusiastic, especially in terms of how the children have engaged in the scheme: their willingness to get their hands dirty – one of the main things we wanted to see”. He voiced the concern of all those involved in the project, that many, perhaps most, children in Hong Kong have no opportunity to grow vegetables and to see organic things developing. “Many children rarely, if ever, get to grow a fruit or a ﬂower or any ‘end product’ which they can take
Britain in Hong Kong
some pride in,” said Taylor. This realisation was echoed by Lynette Ovens, who co-manages the project at South Island School, “For most of our children involved in the project, this was the ﬁrst garden they had ever dealt with.” The impact has been noticeable. The closing ceremony, which took place at Munsang College in June, provided an opportunity for visitors to talk to the children themselves. Proudly displaying the plants they had collected from the beds only that morning, students of Quarry Bay School described the many intricacies of micro agriculture. “We have to be very careful with the harvesting. Sometimes you want to take out the whole plant, and other times you only want the leaves,” explained Maddie, aged ten. “We love cooking and eating them too,” added Janki, who is in the same year. Their group had conducted various experiments such as altering the growing conditions of tomatoes to ascertain what suited the plants best. They also noted that only one of their carrots had come out in the shape they had expected based on what one can buy in supermarkets, though many of the unusually shaped vegetables were perfectly edible. In many schools, students could choose which vegetables they grew, and most opted for a mix of vegetables, from pok choi to chilli peppers. Some students learnt the hard way that certain vegetables, such as maize or tomatoes, don’t respond well to the relatively shallow soil or inclement temperatures. Other children related dealing with crop blights of various kinds and the measures they took to preserve their vegetables, such as shaving off small areas afﬂicted by fungi. Children from the Hong Kong Baptist University Affiliated Wong Kam Fai School found themselves contending with flies, fungi and ferocious birds, but the result was worth it they said – a grand hotpot involving all their vegetables. Better still, most of the schools had a full planting schedule, whereby new seeds would be sown, according to the season, as soon as the last crop was harvested. The Growing Together Scheme had one further aspect to it – recycled compost. Using a Japanese composting system, Bokashi, supplied by local NGO Teng Hoi Conservation Organisation, children at 6 of the 20 schools recycled their leftover food into a fertiliser, which they then used to help along the vegetables in their microgarden boxes. Students from Quarry Bay School dealt regularly with the potent Bokashi compost, and
C ove r S t o r y
described using leftover food from school lunchtimes, then waiting several weeks before collecting the residue from the bottom of the airtight container. In anaerobic conditions, a less dramatic decomposition takes place, and students reported that the end product had only a ‘vinegar-like’ odour, rather than the foul-smelling putrefaction which we commonly notice in rubbish bins. This residue the students then poured straight onto their microgardens. George Woodman, co-founder of Teng Hoi, said that adding the Bokashi element, “made the Growing Together scheme a ‘full circle’, so that children could plant and grow the vegetables, eat them, and also see food waste used to fertilise the soil.” Perhaps the biggest obstacle for schools is that of curriculum - the simple challenge of finding the time to include fresh initiatives into the teaching day. Weaving an initiative like Growing Together into courses and lesson plans takes a greater degree of ﬂexibility than most schools can afford. For the time being, it must remain a voluntary and an extra-curricular activity. South Island School managed to incorporate the vegetable growing and cooking into its French lessons, while for other schools a General Studies course presents an opening for environmental initiatives. George Woodman explains one of his main roles, “If
you’re involved in a programme like this, you’ve got to be ready to help schools by advising them on how to make a mix in their curriculum.” However, he emphasised that curriculum is not the only component in awakening children to environmental issues, “It’s a bit like ﬁshing really – the more lines and hooks you can put in the water, the more catches you are likely to get.” Of course, it’s not just the children who could learn from projects like these. Most of Hong Kong’s population is well aware of the pollution problem and the city’s relatively unsophisticated waste management and recycling systems. Local agriculture is an area which most of us are less familiar with. Until the late 1990s, Hong Kong was something of a leader among cities in terms of its agriculture, producing roughly half of the fresh fruit and vegetables it needed. According to official statistics however, Hong Kong’s locally grown fresh vegetables had dropped to just 4% of the total consumption by 2005, and by last year was only 2.3%. There is some hope however, that as mainland food and fuel costs rise, Hong Kong’s farmers may once again ﬁnd their produce becoming competitive. Agriculture may be widely thought of as a ‘twilight industry’ among the city planners, and environment may not be top of the political agenda, but Hong Kong’s children seem to have other ideas. Several of the schools involved in Growing Together are determined to carry on the project, citing the interest and enthusiasm from the students as evidence enough that the project can start youngsters thinking in the right direction. In a city with a question mark over its environmental trajectory, it seems green ﬁngers are beginning to move again. If you are interested in sponsoring mircrogardens and bokashi for schools in the project, please contact Emily Ferrary, email@example.com
Britain in Hong Kong
Peace Settttin ing g th thee standa ard as in nte tern natio ion io nal peacek na e eeepe p r in med ediation, Hong Kong ca an offfe o ferr interrnat atiiona nall busi busine nessses a neutral al haven n in whic ich to set ettltlte commercial disputtes, explains An nnie Chan,, Partn tner err in Forenssic a and nd Inves nv stig tigation Ser err vi v ces at Mazars. Annie Chan, Partner Forensic and Investigation Services, Mazars, Hong Kong
As an alternative dispute resolution (ADR) mechanism, mediation is increasingly becoming the accepted alternative to litigation. In Hong Kong it’s a route that offers greater ﬂexibility in terms of settlement, is often seen as more practical and saves time and money. The voluntary process introduces an impartial party to assist in reaching a settlement acceptable to all.
two years having
v e n u e i n d e a l i n g w i t h c o m m e rc i a l
passed since the collapse of
disputes.The Civil Justice Reform
Lehman Brothers and some markets
came into effect in April 2009. The
beginning to take on a more positive
objective is to enhance effectiveness in
outlook, 2010 saw a noticeable
the justice system and to facilitate the
increase in the number of commercial
early settlement of disputes by means
disputes in Hong Kong. This is likely
of mediation. The Practice Direction
to have caught the eye of legal
on Mediation became effective on 1
practitioners and regulators, but it has also expedited the development of mediation in Hong Kong.
Annie Chan, Partner Forensic and Investigation Services, Mazars, Hong Kong
January 2010 and there has since been a growing number of disputes resolved by mediation.
W ith mainland Chinese parties involved in an
The announcement of the Practice Direction to
increasing number of international disputes, plus
promote mediation has caused concern among some
cross-border business transactions between Taiwan,
lawyers as to the impact on law ﬁrms, but the judiciary
Hong Kong and the mainland continuing to grow,
is clearly in full support of mediation. The Honourable
Hong Kong is well placed to fill the role of a neutral
Mr Justice Lam has been quoted as saying Hong
Britain in Hong Kong
Kong has developed a new dispute resolution culture,
the Financial Dispute Resolution Centre are further
and that mediation is viewed as a platform for litigants
indicators that Hong Kong is prepared to pro-
to develop a new mindset and to focus their attention
actively seek out resolution methods for all manner of
on solving disputes using ADR.
How successful can mediation be? Advantages of mediation This relative success for mediation and the continued economic growth in and around China poses the question: is Hong Kong becoming the place for international business to conduct ADR? Secretary for Justice, Mr Wong Yan Lung SC, has been quoted as saying that Hong Kong’s highly qualified arbitration professionals, a mature and trusted legal system based on common law, and our openness
• Creates a supportive and constructive environment • Enables the parties to control the outcome of their dispute • Promotes communication between the parties • Time efﬁcient and cost effective
to professionals worldwide, all point to a positive answer.
• Conﬁdential process
Kong arbitral awards are enforceable in more than
• Helps to teach the parties an effective way of resolving disputes through co-operative decision making
130 contracting states linked to the 1958 New York
• Not an imposed settlement
His belief is strengthened by the fact that Hong
Convention, and are also enforceable in China by virtue of a separate arrangement signed by Hong
Source: Hong Kong International Arbitration Centre
Kong’s Department of Justice and the Supreme People’s Court in 1999, facilitating reciprocal enforcement of arbitral awards.
A positive course for mediation
As the only common law jurisdiction in China to enjoy
Hong Kong’s mediation growth charts a positive
a high degree of judicial independence, Hong Kong
course for the future. It offers businesses from Greater
has retained its competitiveness among neighbouring
China and beyond, a fair, trusted and internationally
countries. It could also be said that the Closer
supported arena, in which to secure enforceable
Economic Partnership Agreement has played a role
resolutions to commercial disputes.
in nurturing Hong Kong’s relationship with China. This may have helped Hong Kong position itself as a venue
Indeed, the Hong Kong government is making a
for settling commercial disputes involving international
strong case for greater transparency in the financial
world and is setting international examples. Civil Justice Reform in Hong Kong has spurred the growth
If we use arbitration as a barometer for mediation,
in mediation, but it is Hong Kong’s own reputation
the signs look even more positive. The Hong Kong
for fairness, its quality legal system and its diligence
International Arbitration Centre (HKIAC) recently
in seeking out resolutions across the board, that can
celebrated its 25th anniversary. HKIAC handled 624
take mediation in Hong Kong to the next level.
dispute cases in 2010, most of them international in nature, which puts Hong Kong, in terms of caseload,
This article was originally used in issue six of Mazars
in second place in Asia.
International Forensic Files.
H o n g K o n g h a s a l s o re c e n t l y e n a c t e d a n e w
If you need more information, please contact Dany
Arbitration Ordinance, making arbitration law
Sok, Marketing & Communications Manager – Mazars
more user-friendly to the international business
Greater China (firstname.lastname@example.org)
community. Hong Kong’s additional plan to establish the Investor Education Council (under the watchful eye of the Securities and Futures Commission) and
Internationalised Renminbi to Help Reshape Premium Office Market Landscape
Gavin Morgan, Chief Operating Ofﬁcer and Head of Leasing, Jones Lang LaSalle Hong Kong
growing economic ties between Hong Kong and mainland China in recent years have not only given huge business impetus to Hong Kong’s banking and finance sector, but has also led to a rapid accumulation of Renminbi (RMB) deposits in the city’s banking system. As the only current designated offshore clearing centre for the RMB, Hong Kong is in a unique position to leverage on the growth of RMB denominated ﬁnancial products and related services in the decade ahead. However, whether Hong Kong is ready to fully take advantage of the opportunity brought about by the internationalised RMB and capture this wave of growth lies with the city’s capability to provide the extra Grade A ofﬁce space that will be required. In fact, we anticipate that the internationalisation of the RMB will help drive demand and reshape the premium ofﬁce market in Hong Kong. Since 2004, the pool of offshore RMB deposits in Hong Kong has grown from a mere RMB 12.1 billion in 2004 to the current level of RMB 566 billion. The path to becoming an offshore clearing centre for the RMB will further lead to phenomenal growth in the ﬁnancial sector, mainly in three key areas: trade settlement, wealth management and financial product development, and capital raising.
Britain in Hong Kong
In trade settlement, the use of the RMB has become
Indeed, if the long-term historic growth patterns
increasingly popular amongst traders as it helps reduce
continue, it is feasible that an extra 40,000 headcount
transaction costs and currency risks. In fact, according to
will swell the ﬁnancial sector in the next 10 years, which
market estimates, it is expected that 30% of China’s total
translates into an additional 6 million sq ft of office
trade will be transacted in RMB by 2015.
space demand by 2020.
As Hong Kong handles more RMB transactions, there is
However, with Central’s vacancy rate already at frictional
a need to develop more sophisticated RMB-denominated
levels with less than 1 million sq ft available as at the end of
investment vehicles and wealth management services.
2011 and future supply capped at 3.5 million sq ft for the
This will strengthen Hong Kong’s position as one of
next decade, a large amount of this anticipated demand will
Asia’s top wealth management centres, where USD 1.3
need to be met in ofﬁce buildings outside Central.
trillion worth of wealth was managed by over 300 funds in 2010.
To this end, a continuation of the current trend of decentralisation is probably the solution to help Hong
In addition to the above, Hong Kong has been the
Kong capture the opportunities brought about by the
preferred capital raising centre for Chinese enterprises.
The opportunities for raising RMB funds will not only further strengthen the IPO listings of Chinese firms on
Now the question is what makes successful
the Hong Kong Stock Exchange but will also lead to the
decentralisation? While some banking and ﬁnance sector
expansion of the bond market, providing mainland ﬁrms
tenants have shown a willingness to relocate outside
alternative options when they look to raise capital.
Central, they are selective and have a preference for large ﬂoor-plate buildings with space at between 25,000 and
All the above are pointing to the progressive development
50,000 sq ft. This would help explain why ﬁnancial ﬁrms
of the RMB offshore clearing centre in Hong Kong which
such as Morgan Stanley, Deutsche Bank and DBS have
will be the transformational driver of the sustained growth
recently moved into the International Commerce Centre
in city’s ﬁnancial sector over the next decade.
in West Kowloon and One Island East in Quarry Bay. As a consequence, developers and landlords need to ensure
While this growth will bring enormous opportunities for
that they are able to meet the needs of these tenants.
banks, asset management companies and other ﬁnancial institutions, both local and overseas based, who are
Although the government has been keen to champion
eager to settle their feet in Hong Kong to capture this
the new Central Business District (CBD) in Kowloon East
boom, it will also create downstream demand for related
(otherwise referred to as CBD2), it is estimated that the
professional services such as accountants, lawyers,
process will take at least 10-15 years before the area
insurers and commercial real estate providers.
will be mature enough as a front office home for larger banking and ﬁnance sector tenants. It is clear that Hong
In the long term we expect increased demand for the
Kong needs an interim plan to further expand its existing
city’s Grade A ofﬁce market, accompanied by a spill-over
CBDs in order to satisfy growing demand before the
demand for decentralised ofﬁce space.
completion of the Kowloon East developments. We have no doubt that Hong Kong’s financial service platform would have sufﬁcient capability to embrace the opportunities and challenges an offshore RMB clearing centre might bring. However, whether Hong Kong has a sufficient amount of high quality office buildings to accommodate the growing needs of the sophisticated banking and ﬁnancial sector will be critical. A way has to be found in the meantime to allow Hong Kong to fully take advantage of the opportunity of becoming an offshore RMB clearing centre. Decentralisation is probably the answer for now.
Are You Communicating Effectively?
Neil Orvay, CEO, Founder, Evolution-U Limited
We communicate at home with our family, at work with our boss, colleagues and clients, and socially with our friends and acquaintances. The responses we receive when we communicate directly impact our welfare, relationships and emotions. It is no understatement to say that our ability to communicate effectively directly impacts our livelihood.
communicate at home with our family, at work with our boss, colleagues and clients, and socially with our friends and acquaintances. The responses we receive when we communicate directly impact our welfare, relationships and emotions. It is no understatement to say that our ability to communicate effectively directly impacts our livelihood. However, few of us are trained in communication techniques. Many employers spend their training dollars on industry speciﬁc hard skills that relate to their product or service. This presents an opportunity for those trained in communication techniques. To start being a good communicator you need to understand your role in any given communication. In a conversation between two people, how much of the conversation are you responsible for? Most people will answer 50%. This means you are giving up 50% of your communication to the other side. It should be no surprise then that the response we get is often not what we intended. We are going into a meeting or negotiation already giving away half of our inﬂuencing ability. If we want to improve our influencing ability when communicating, we need to take 100% control for the communication. This means taking responsibility for how
the other side perceives you, and not only for your own words and actions. Effective communication is at the core of the study of Neuro Linguistic Programming (NLP) which was developed in the US in the 1970’s and has been used by senior business leaders and politicians for decades. Effective communication is based on building rapport, or ‘getting on with people’. With rapport comes the ability to influence situations – when we like someone we are far more likely to agree to their requests. Most of us interact with people we like, however we often have to deal with people we may not have a natural ﬁt with. More importantly, they may not see us as we need them to, so the ability to impact their perception of us is critical in building rapport. The process of building rapport is an ‘unconscious process’, it is something that happens naturally and out of conscious awareness. In a restaurant two people in rapport will be oblivious to the surrounding diners, they will tend to take sips of their drink and eat mouthfuls of food at the same time. By observing carefully you will see that they are sitting in matching or mirroring positions. This principle also applies to business interactions and gives valuable information to the NLP trained party as to when their opposite number is starting to warm up to them, and are then more likely to be open to an agreement. In a study of merger and acquisition negotiations conducted by Professor Gregory Neidert of Arizona State University on behalf of a Fortune 100 company, it was found that by building rapport for 1015 minutes at each meeting prior to initiating negotiation, the average time required for a deal to close fell from 9
Britain in Hong Kong
3 months to 6 months. The resulting reduction in legal and management costs resulted in savings of approximately USD 10m per deal. In any influential situation, whether personal, social or a business scenario (such as sales, negotiation or mediation) the chances of success are increased if the other party perceives that you are like them. In order to take control of this process and increase your inﬂuencing power, it is necessary to understand the process of building rapport. Rapport is built through a process called ‘matching and mirroring’. Skilled communicators match (or mirror) the words, actions, skills or resources of their target, communicating at an unconscious level that they are a person like them.
she lowered her tone of voice when entering politics to appear more ‘acceptable’ to her male colleagues. Physiology: Our body language often tells us more than the words we say. Posture, gestures, positioning, facial expressions and breathing rate all communicate a huge amount of information that, when understood, allow trained communicators to read situations more accurately and adapt accordingly. One caveat important to remember when discussing the 7/38/55 rule, is that it does not mean that if you do the 93% of tonality and physiology well, that you can then say anything you want! The words need to be consistent with the theme of discussion.
Words: Listen for ‘Key Words’ that a person uses repeatedly and use these words back when summarising your case.
A final word on ethics; the purpose of learning NLP communication techniques is not to manipulate people. Manipulation results in a win-lose scenario – one win until the client realises what you’ve done which then leads to a lost relationship and no further business. When used correctly these skills result in win-win scenarios by improving communicative ability, building relationships and fostering long term business partnerships. What you will achieve by understanding and applying these principles is increased influencing capabilities that allow you to deliver your message more effectively and develop relationships which otherwise may have passed you by.
Tonality: We naturally use a range of tones within our daily speech. We automatically (ie. unconsciously) react differently to the way in which a word or phrase is delivered. Margaret Thatcher is on record as having said
Neil Orvay is the founder of Evolution-U and a trainer in Neuro Linguistic Programming and Business Psychology. For more information on the public and corporate trainings available visit www.evolution-u.asia.
The 7/38/55 rule of communication states that communication is 7% words, 38% tonality and 55% physiology. Each of these components of communication can cover multiple articles in their own right. Given the limitations of this introductory article here are a few pointers on what you may want to match or mirror:
Clearing the Air Hong Kong’s Evolving Energy Debate
Timothy J. Peirson-Smith, Managing Director, Executive Counsel
Earlier this year, Hong Kong’s largest electricity company CLP Power warned about the pressure of significant bill increases over the next four years due to the rising fuel cost and the government’s enforced energy policy. The beginning of this year alone saw an additional bill increase of 4.97% which had already been negotiated down from 9.2%. The tariff increases caused some protest amongst the Hong Kong public. However, under the tight statutory emissions requirements from the government for better air quality, CLP need to change the fuel mix to meet 2015 emissions’ targets by doubling gas volume from the current level. Unlike in the domestic markets of countries producing natural gas, such as the UK and the United States, the majority of gas traded amongst Asian countries is in liquefied form, making it easy to transport large quantities. However, the price of natural gas is signiﬁcantly increasing for countries with no local gas market and for those unable to buy from local suppliers. Unfortunately, the existing gas supply to CLP for the past 15 years, which comes from Hainan, China, is running out. To keep gas supplies flowing, CLP is working with PetroChina, as contemplated under the energy agreement signed between the Hong Kong government and Central government of mainland China, whereby gas is piped from Turkmenistan, Central Asia all the way to Hong Kong. These changes explain the expected cost increase which could be as high as 40%.
Managing Director of CLP, Richard Lancaster said, “The ﬁrst milestone in government policy is to address tighter air quality targets by 2015. In order to reach the target the fuel mix has to be adjusted. By shifting away from coal and using more natural gas instead, there will be benefits to air pollution and some lowering of carbon emissions. However, to achieve significant carbon reductions, CLP will need direction from the Hong Kong government on Hong Kong’s climate change strategy and nuclear power.” Not surprisingly, clean and environmentally friendly energy costs considerably more than burning coal. Despite gas prices rising signiﬁcantly across the globe, Hong Kong electricity bills and recent price hikes are still amongst the lowest among the world’s major cities, eg. London, Tokyo, Sydney, Singapore and New York. CLP Power has a responsibility to maintain a reliable power supply for its customers. Having been questioned by the press, Lancaster assured the public that, “We endeavour to offer reliable and reasonably priced energy as well as minimise our impact on the environment.” Despite receiving some negative media coverage, CLP is, “committed to meeting its responsibilities to Hong Kong. CLP has already reduced total air emissions from power generation by over 82% since 1990, while electricity demand has increased by more that 80% during the same period.”
Britain in Hong Kong
During a question and answer session at the CLP Intercham Lunch Conference, Lancaster said that when it comes down to increasing electricity tariffs there is “simply no choice”. The responsibility of CLP, he explained, is to comply with the government’s energy policy in order to improve air quality and ensure a stable electricity supply. “As an electricity company, our job is to provide a reliable power supply and meet environmental targets. With gas prices rising 2-3 times and the need to double our usage of gas by 2015, our gas bill will see a 5 fold increase. We simply cannot absorb such cost increases indeﬁnitely”. The electricity companies are governed by a Scheme Control Agreement (SCA) whilst their operating performance and proﬁt are closely monitored by the Hong Kong government. They also have an annual review and discussion with the government to decide the tariff rate for the coming year. CLP plans to aid businesses in saving energy by installing smart meters for business customers which will enable them to attain more information about their personal energy usage and manage use more closely. CLP told the press that they are keen to promote energy saving and have introduced new programmes in order to increase energy efﬁciency in Hong Kong. CLP’s primary aim was clearly stated when they promised to, “provide what customers need and meet their demands whilst sharing an interest in the Hong Kong economy”.
Why Most Organi Organisations
Dorothy Combes, Founder and Director, fresheyemarketing
Insight is a commonly used word in the commercial world. Yet most of us don’t appreciate what it really means. Data, information, knowledge, insights. The words are used interchangeably. Probably not something you've spent much time considering or perhaps even think worth considering. But what if I told you that understanding the difference could give you real competitive advantage? And that by not understanding the difference your organisation
is wasting tens of thousands of dollars on investments you’ve already made, let alone the opportunities you could be creating. As we become more and more reliant on technology to provide us information, we assume we’re getting smarter. In some cases we are. But most likely, we’re just getting a bit better informed. The model below shows the difference between data and informatiaon and how what we are really after are insights.
Insights hierarchy diagram co-developed by Dorothy Combes and Paul Curran both Founders and Directors of fresheyemarketing, as a development of Dr I. Nonaka’s 4 nodes of knowledge conversion model.
Britain in Hong Kong
t Organisations nisations Use Insight In Hindsight
Insights are those golden moments where disparate information comes together to form something new, something fresh, something adaptive. Take for example, Arthur Fry. Arthur had listened to a colleague give a talk about very weak glue and shrugged it off as a dead end idea. Why would anyone want glue that barely sticks? It was 1974 and Arthur was a regular in the church choir a Pentecostal church in Minnesota. He used to bookmark his hymn book with little sheets of paper which kept falling out so he was always losing his place. This annoyed Arthur. During one service his mind began wandering to how this glue could help. He went back to work and produced bookmarks that stuck to his Hymnal. He also gave them out to all his colleagues at work. They used them but never came back for a reﬁll so Arthur decided it wouldn’t take off. One day, someone wrote on one and stuck it on a paper on Arthur’s desk. Arthur returned it with a comment. And soon the whole place was covered in them. Arthur worked for 3M and he had invented the Post-it note. So how do you know if you’re stuck in the better information trap? Well, it's likely that you bid for most things you're asked to because you don’t have enough client insight to focus on the ones you’re really likely to win. And when you do bid, your win rate is less than 1 in 3. You probably don't have the level of relationships with your decision making audience to help them form their requirements and this may made worse by a high churn rate on your customer facing staff. You may be selling at the lower end of your services value which means lower margin and struggling with
cross and up selling. You are likely to have invested in some form of CRM system yet you’re not getting much benefit from it other than improved client lists. Do you know the value of your clients and how much of that value you have? If you can relate to any of these symptoms, the good news is that you can do something about it. And you can do something about it quickly. For example, taking the time to understand and appreciate the assets you already have such as your addressable market; competitive positioning; win/loss data and of course client knowledge will develop a body of knowledge. Bringing it together in the right context, could lead to many active insight opportunities. The investment of a day with your client facing staff working this information into organisational insight that is applied to your customers will make an immediate difference to your costs and revenues, I promise you. If you linked all your information sources together in a way that supports your sales cycle this will help you focus on the right customers with the right products and services at the right time and your Finance Director will love you because you'll be sweating the assets you already have. How do I know this to be true? Because I’ve participated in making this work for other organisations. In this case, the benefit of hindsight I hope has provided you with some insight. fresheyemarketing help technology organisations sell more and do more with their marketing. For more information please visit www.fresheyemarketing.co.uk
Talent Challenge: Sh ld an increased Should i number of SENIOR ROLES be occupied by WOMEN? Fraser Murray, Managing Director, Rock The Boat Consulting Ltd
Fraser Murray, Talent Expert at Rock the Boat Consulting, recently delivered a seminar in Hong Kong which created intense debate amongst attendees. He explains why he is so passionate about one of the latest talent challenges facing organisations globally.
Alarmingly 34% of businesses globally have NO women in senior roles. Not much improvement has been made since 2004 in the global ﬁgures2. South East Asia is one of the regions with the highest percentage of women of senior roles at 32% (ahead of the European Union at 24%) and this is possibly due to the amount of small family business combined with the availability of lower cost childcare and domestic help. %XVLQHVVHVZLWKZRPHQLQVHQLRUUROHV
There is strong evidence that companies with sustained high representation of Women Board Directors significantly outperform those with sustained low representation 1, for example organisations where a minimum of three Women Board Directors had been in place for a 4 year period, return on sales was 84% and return on capital invested 60% higher than in those organisations with all male boards.
Source: Grant Thornton IBR 2012
Quotas Quotas in Norway certainly produce more senior women but I’ve yet to see evidence that the performance of Norway’s organisations has improved drastically as a result. Quotas appear to have as many downsides as upsides. Whilst I strongly believe in the evidence around the success of having more diverse boardrooms, including gender as well as ethnicity, nationalities, etc. I do not believe in applying quotas to speed up the appointment of Women Board Directors,
Britain in Hong Kong
as promoting females (or anyone) too early can be counter-productive. People promoted because of quotas may worry that colleagues think they may have been promoted just to even up the numbers, individuals themselves may doubt whether they are really capable of doing the job. Better to be promoted through a fair process, in an open race as the best candidate. I believe in ensuring fairness of opportunity for all, which means developing females in lower level positions so they are ready for any challenging
Thirdly, there are “Structural” aspects that most organisations must improve such as internal initiatives:
promotions as and when they arise. Where senior teams are currently all or mostly male dominated, an external neutral assessor may be helpful to include as part of the process, to ensure the best candidate is appointed objectively and for all the right reasons! Rather than quotas, the Australian Model of making it mandatory to report the number of females they have at each level should be enough to drive a significant increase in the numbers of female board appointments. Interestingly even without quotas, Australia has the highest percentage** of female CEO’s (30%). Clearly quotas are not required to achieve the progress required.
• • • • • • • •
Recruitment & Selection Talent Identiﬁcation Performance and Potential Training and Development Promotion Process Mentoring Diversity Flexible Working
Finally though and most important of all are the organisations desire to challenge and adapt longstanding “institutional mind-sets”.
secondments and special projects to develop skills
All of the above areas of focus can make some difference and if improved can contribute to increased effectiveness and bottom line performance. However the evidence shows that only limited progress will be made until organisations tackle aspects such as Organisational Culture, Senior Management bias, attributes and behaviours which have been valued historically. Most important of all is the demonstrable commitment of the CEO, and their ability to make sure that these messages are passed down and implemented by cynical managers further down the organisation. It’s no good the CEO pretending to be committed or expecting their messages to be implemented by cynical managers further down the organisation. A culture must be developed to measure progress, with rewards for success and where necessary clearly communicated consequences for
and potential. For those showing high potential, invest
those not prepared to get on board.
Instead of quotas recent McKinsey research3 echoes my own beliefs that there are four areas that organisations can focus on to address diversity in the boardroom. Firstly the mind-sets, skills and confidence development of the individuals themselves will help to a degree. From my experience there are many ways organisations can do this, including introducing or improving Women’s Development Programmes for high potential candidates. With some internal effort, you can create stretching business projects with greater accountability and exposure to senior managers, ring-fencing of key positions as “development roles” for talented individuals, and additionally the use of
in professional development to prepare them for future roles, e.g. 1:1 Exec Coaching may in some cases be an appropriate way to develop them. Also consider training
For more information on Rock the Boat Consulting please visit www.rocktheboatconsulting.com
internal mentors which is a cost effective option for developing both men and women. 1 Catalyst, 2011 Women Board Directors. [Online] Available at: http://www.catalyst.org/file
Secondly women will make lifestyle choices around family, children, location, ageing parents, income, travel, etc. Providing effective “career development discussions” can help individuals explore and plan these aspects properly earlier in their career.
<http://www.catalyst.org/file/139/bottom%20line%202.pdf> 2 Grant Thornton IBR, 2012. Women in Senior Management: Still Not Enough. [Online] Available at <http://www.internationalbusinessreport.com/files/ibr2012%20 -%20women%20in%20senior%20management%20master.pdf> 3 McKinsey & Company, 2012. Unlocking the full potential of Women at Work. McKinsey & Company
CSI Accounting The Surprising Pattern of Fraud Catherine Williams Senior Managing Director, FTI Consulting
Fraud comes in many guises and is seen across all industries and all types of companies. Although some types of fraudulent activity can be easily detected, sometimes it takes very clever techniques to find the signature clues left like fingerprints at a crime scene. The infamous Bernie Madoff scandal is just one of the many examples where FTI Consulting has used advanced forensic accounting techniques to gather otherwise hidden evidence. FTI Consulting Senior Managing Director Catherine Williams describes one small but important tool her team uses to fight crime – CSI style.
With over a decade’s worth of episodes, and taking the top spot as last year’s most-watched television drama, CSI: Crime Scene Investigation has captured the imagination of many amateur detectives. Millions of viewers around the world have learned about cuttingedge forensic tools used by these ﬁctional agents to solve crimes that would otherwise remain a mystery. Of course, not all crimes are like the ones seen on the show. In real life, some of the greatest breaches of the law never see a drop of blood fall to the floor, yet these ‘white-collar’ crimes can involve theft and fraud on a massive scale, and can devastate the lives of the innocent. Just as our ﬁctional counterparts would examine a bloody crime scene with the aid of specialist equipment, an investigator of whitecollar crimes examines their crime scenes with the help of little-known but powerful tools. One of these forensic tools depends on an obscure principle called Benford’s Law.
of the Twentieth Century, white-collar crime is committed by respected people holding a high social status at their work place. White-collar crime lives on the dark side of the corporate world, and can involve fraud, bribery, insider trading, embezzlement, copyright infringement, money laundering, identity theft, forgery and more.
Before jumping into Benford’s Law and how specialists use it to fight crime, it’s best to make a few distinctions between the violent crimes seen on TV and the real-life white-collar crimes that make it into the news. According to Edwin Sutherland, regarded as the leading criminologist
Fraud is a crime that has received a lot of coverage in the news, as it’s a special kind of crime whose greatest perpetrators seem to come from the boardroom. The proﬁle of the typical fraudster is surprising. A 2007 study found that 89% of financial statement frauds directly
“ Fraud is a crime that has received a lot of coverage in the news, as it’s a special kind of crime whose greatest perpetrators seem to come from the boardroom ”
Britain in Hong Kong
involved either the chief executive ofﬁcer (CEO) or the chief financial officer, showing that the overwhelming majority of fraud was perpetrated by those at the very top of the corporate ladder. In Asia, although only 6.5% of fraud cases were of the financial statement kind, they accounted for over half of the total-dollar loss linked to fraudulent business practices. Moreover, another survey found that the typical fraud perpetrator in Asia involved a male aged 56-60 years, an owner-executive of the company who had a post-graduate degree and 6-10 years at his company, and he tended to be on the company’s board of directors.
BACK TO BENFORD’S LAW To better understand how to identify when and how fraud happens, it helps to understand why it happens in the ﬁrst place. Fraud typically occurs under three main conditions: 1. A perceived opportunity to beneﬁt 2. A strong pressure on the individual to commit the crime 3. The rationalisation of a behaviour by the perpetrator to minimise the severity of the crime Using the example of a manager who is tempted to inﬂate sales revenues, he may commit the crime if he can get away with crediting sales to a fake client. This may happen because he is facing strong pressure to make monthly sales volumes. Later, he may rationalise this action, as others in the department have also done it and it’s ultimately helping the company or his department look better. This is when Benford’s Law kicks in. In 1938, Dr. Frank Benford described a surprising mathematical principle. He found that number sequences found in sets of data that seemed random tended to follow a consistent and predictable pattern. What’s unusual is that most people have the mistaken assumption that in a large set of numerical data, the nonzero digit that comes ﬁrst is equally likely. That is, that the numbers from 1 to 9 will occur as the ﬁrst digit about as frequently (Example 1, below).
Example 1 1 2 3 4 5
2 4 4 7 1
3 3 1 2 7
1 1 3 6 1
2 5 4 1 2
6 7 8 9 7
3 0 2 1 2
3 2 3 0 1
9 9 1 0 5
2 3 7 1 3
In reality, the number 1 appears as the first digit about one-third of the time, the number 2 appears as the ﬁrst digit about 18% of the time, and, moving down, the number 9 only appears as the ﬁrst digit about 5% of the time (Example 2, below).
Example 2 1 1 1 2 2
2 4 4 7 1
3 3 1 2 7
1 1 3 6 1
2 5 4 1 2
3 4 5 7 9
3 0 2 1 2
3 2 3 0 1
9 9 1 0 5
2 3 7 1 3
This rule can be seen in all kinds of data sets, from stockmarket prices to website statistics to birth rates. However, as Dr. Benford also discovered, there are some number sequences where the Law doesn’t work. The Law fails when the data is totally random and the sample size isn’t large. For example, Benford’s Law doesn’t work with pre-assigned numbers like postal codes or automatic bank-machine pin numbers. However, for the forensic accountant, ﬁnancial data such as sales receipts and invoices conveniently fall under Benford’s Law. This turns out to be very helpful when you’re trying to find needle-sized evidence of fraud in a haystack of data. As it happens, most people who fake sales and other financial information aren’t aware of Benford’s Law. To show the forensic accountant at work, it helps to go back to the scene of a crime. In the following scenario, one modelled around an actual high-proﬁle case we saw in Hong Kong, a CEO from Company XYZ ﬁnds himself in the right conditions of a ‘fraud triangle’. He is eventually caught, as his actions leave clues that contradict Benford’s Law.
THE CASE OF XYZ After a few years of hard-earned growth and strong performance, the pressure to increase the profitability of XYZ sharply increased when shareholders planned to list the company on the Hong Kong Stock Exchange. Under the listing-date deadline, the CEO hatched a plan to generate fake invoices through fraudulent transactions. He believed it would work, as he only needed the help of a trusted sales manager to stay late and add extra, fake invoices to their books. In other words, under pressure, the CEO and his accomplice boosted the company’s financial performance. To rationalise this, he and the sales manager convinced themselves that they were actually helping the company become listed. Inﬂating the numbers wasn’t drastic, as all they wanted was to make
the financial picture a little brighter before the company became listed. But then market trouble hit and sales volumes dipped, needing another boost of fake invoices to ease the pressure from stakeholders.
“ The media called the Company a success story and the CEO was riding high on the wave of success. Then, things began to take a turn for the worst ” This scene played out for some years, and everyone was delighted that Company XYZ consistently met its targets. The media called the Company a success story and the CEO was riding high on the wave of success. Then, things began to take a turn for the worst. The banks and
Typically, an auditor is like a regular police officer who
the secured lender began to ask questions, nervous that
looks at the direct, ‘front-end’ evidence. On the other
the picture was too good to be true. How could XYZ’s
hand, the specialist forensic accountant carefully
reporting be so positive, month after month while the
scrutinises the back-end evidence, which is buried,
competition was struggling? Wanting a fresh look, the
complex and much more difficult to analyse. Looking
banks appointed an independent accountant to do a bit of
only at the direct evidence – the balance sheet data –
snooping around. Some CSI-styled forensic accountants
won’t show what the CEO did, but a review of the actual
joined them to see if there was more to this picture-perfect
financial data can reveal violations, such as those of
With XYZ’s books and records, the challenge was to find evidence of a crime within the sea of data.
The investigator had literally millions of data entries – everything from sales receipts to time sheets, expense
Benford’s Law won’t be enough to solve a crime
claims and all the incidental transactions. But how to ﬁnd
where there are only one or two fake transactions. But
the fraud, if indeed there was some going on? So the
any large set of transactions – like expense claims,
investigator ran a battery of tests, one of them being a
commissions, sales and purchases – are the right
review that would have to deliver results that respected
kind to test against Benford’s Law.
Benford’s Law. Just as on CSI, there are many ways for the trained After the number crunching was complete, hidden in the
specialist to assess the scene of a crime, work
sales receipts going back many years, a pattern emerged.
backwards and uncover what really happened. For
And from this pattern, the investigators clearly revealed
forensic accounting experts, it boils down to reviewing
that the sales invoices violated Benford’s Law, which
the mass of data, finding the pattern and ensuring
suggested serious, long-term fraud.
that all is as it should be.
The results showed that instead of the number 1 appearing as the first numeral in around 30% of all the cases, it only came up 20% of the time. Also, the number 9 came up ﬁrst almost 30% of the time, when Benford’s Law says it should have only come up 5% of
FTI Consulting, Inc. is a global business advisory firm dedicated to helping orgainsations protect and enhance enterprise value. For more information please visit www.fticonsulting-asia.com
“Did we miss anything?” The most important thing to me? Is to have a smooth and worry-free relocation “The experience is never easy, but we must say that the effectiveness, efﬁciency and courtesy of the Crown people in both places made a huge difference!” ~USA to Switzerland
Crown service offerings include: s International & Domestic Shipment s Storage, Airfreight s Transit Insurance s Pet & Car Transfers s Immigration & Legalization s Settling-In
Tel: (852) 2636 8388 email@example.com crownrelo.com/hongkong
Well Connected. Worldwide.TM
Times of Turmoil Peter Wynn Williams, Investment Director & Partner, The Henley Group Limited – Hong Kong
Peter Wynn Williams warns against underestimating the real dangers currently besetting established markets.
umpteenth crisis meeting of the Council of Europe took place in Brussels at the end of June. The European Union’s smokeand-mirrors merchants wanted us to believe that another game-changing agreement to solve the euro crisis was reached; but there Peter Wynn Williams was no agreement, any more than there was a plan to bail out the Spanish banks. They just said they had a plan. There was no plan, no formalised, agreed plan. What we had was a Memorandum of Understanding, the weakest form of non-binding document possible.
We had EUR120bn of (mostly) previously announced spending being amalgamated and trumpeted as a new growth package. We had no new bailout money. We did have some technical changes to the European Stability Mechanism, which were to be applauded. We also had a central supervisory authority for banks to be run by the European Central Bank. But we will really have all this only if that wish list can be converted into a legallybinding agreement. Within hours of the announcement, however, Finland, the Netherlands and Germany were claiming that they had not actually agreed to what they were said to have agreed. Déjà vu, anyone? In conceding even to the Memorandum, Chancellor Merkel has opened the ﬂoodgates on a torrent of hostile legal challenges within Germany. The constitutional consequence of the litigation may have to be a German
Britain in Hong Kong
In the US, the Californian municipalities of Stockton, S a n B e r n a rd i n o a n d M a m m o t h L a k e s f i l e d f o r bankruptcy, while others, like Scranton, Pennsylvania, will follow. J P Morgan Chase admitted that the USD2bn credit derivatives loss announced in May has already increased to USD5bn and rising. Some analysts opine that a USD50bn loss would bring the bank down. The confetti war is also intensifying. Foreigners are reducing their holdings of US Treasuries, while countries from Ukraine to Kazakhstan to Turkey announced that they have purchased gold in recent months to bolster their growing reserves. The Bank of International Settlements and US regulators are both moving forward with proposals that allocated gold bullion be treated as a risk-free cash equivalent on banks’ balance sheets, alongside US Treasury securities.
referendum on the way forward; so Italy’s victory at the summit (as on the championship soccer ﬁeld!) may prove short lived – but at least a referendum would allow Merkel to wash her hands of Europe’s fate. Is that her game? So far, Merkel has been saying that, if Germany is expected to take on liability for other countries’ debts, Germany must be given control over other countries’ taxing and spending. However, if you believe that control over your taxing and spending is the essence of your sovereignty, it is no wonder that other nations are unwilling to succumb; but, although Germany may have blinked on a debt union, she won on banking supervision. In that sense, perhaps Italy’s success was even less than it appeared at ﬁrst? In reality, however, conceding that already-insolvent banks may borrow even more money from previously forbidden sources will not help, except perhaps for a few days. The debt crisis continues to deteriorate, and the rate of deterioration continues to accelerate. After months of posturing and denial, Spain and Cyprus have become the fourth and fifth countries formally to request aid from Europe’s bailout funds. In doing so, these governments have officially confessed to their own insolvency and to the insolvency of their respective banking systems. In response, Spain’s tenyear bond yield jumped to over 7% again, and Moody’s downgraded many Spanish banks to junk. Meanwhile, Slovenia’s prime minister said that his country may soon ask for a bailout. Italy cannot be far behind. Where is that money going to come from?
Chile has joined a growing list of countries that has agreed to bypass the US dollar and settle all of its trade with China in yuan. China itself has announced plans to create an experimental zone (in Qianhai, just on the other side of Shenzhen Bay from Hong Kong) where full exchange and convertibility of the yuan will be allowed. So, there appear to be a number of (not necessarily new) takeaways from recent developments: • European governments are insolvent. • European banks are insolvent. • US governments (federal and local) are not far behind. • Even the best US banks are not as strong as believed. • Foreigners are abandoning the US dollar and seeking alternatives. • Gold remains at the heart of the monetary system. Ho hum. Better a list of five ghastly certainties (plus one golden ray of light) than a Memorandum of Understanding, I suppose! For further information, please call The Henley Group on (+852) 2824 1083, or send an email to firstname.lastname@example.org or email@example.com
DISCLAIMER: The purpose of the contents herein is to provide you with general market information and trends. No content herein may be construed as offer, invitation, advertisement, inducement, representation, advice or recommendation of any kind. You should consult with a licensed investment adviser for obtaining professional investment advice that is tailored to suit your specific needs and situation. The Henley Group makes no guarantee, representation or warranty and accepts no responsibility or liability as to the accuracy, completeness or correctness of the contents herein.
Under a Stone David Dodwell, Chief Executive, Strategic Access Limited
As the West struggles with financial woes, David Dodwell refocuses attention on Hong Kong’s own growing and frequently underestimated economic problem: youth unemployment.
This week, both the OECD and the UN’s International
Kong is clearly no exception. According to government
Labour Organisation (ILO), warned afresh about
data, the official proportion of jobless people under
deepening unemployment in the world’s developed
25 is nearly 8%, but a recent United Nations report on
economies, in particular among the young.
global employment trends for youth comments that true youth unemployment in Hong Kong “could be as
T h e E u ro z o n e i s t h e a re a o f k e e n e s t c o n c e r n .
much as double the official rate if all of the additional
Unemployment stands at 11% at present, and is forecast
inactive youth are really holding out hope for future
to rise steadily between now and 2015 to 14%. Youth
employment”. The ‘inactive youth’, says the report, are
unemployment in some of Europe’s economies is already
youngsters who are, “either ‘hiding out’ in the education
at 40%, and heaven knows where it will ﬁnish by the time
system instead of facing a pointless job search, or idly
the recession begins to recede. But the challenges are
waiting at home for prospects to improve”. The UN
not conﬁned to Europe. US job growth is insipid at best,
estimates Hong Kong’s youth unemployment to be at
and unemployment still above 8%. Obama must beware:
no sitting US president has been re-elected in the past half century with unemployment at these levels.
I can’t help feeling that much of the hostility in the community targeted at the new administration of CY
Contagion into Asia is also certain – not voracious
Leung is powerfully influenced by this haunting reality.
enough to topple leaders maybe, but enough to inﬂict
Few of these ‘inactive youth’ are likely to be active
deep economic, political and social wounds. Hong
protestors against the government, but they must surely
Britain in Hong Kong
foster a sense of alienation and hopelessness. They provide a fecund growing medium within which political and social negativity can thrive. For this reason, I welcomed last week’s call by Carrie Lam for “Ten Projects for the People” – initiatives that can bring practical hope to Hong Kong’s ordinary people. I have a second, more egocentric reason for endorsing her call: over two years ago, in March 2010, I wrote an opinion piece here in the Ming Pao Daily calling on the Donald Tsang Government to draw up a list of ‘Ten Projects for the People’ – a list that would contrast the ‘Ten MegaProjects’ that were then causing huge controversy in the community. This list would demonstrate that the Government recognised – and was determined to tackle – core challenges at the heart of the Hong Kong community. Needless to say, Donald Tsang’s administration ignored my idea, but I still nurture hopes that our new government is in a better mood to listen. Of the ten projects that made up my own personal list of ‘Projects for the People’, three in particular were tailored to Hong Kong’s demoralised young. They focused in broad terms on skills challenges, and might still be worth considering today:
Massively strengthen language tuition in schools:
And offer serious funding incentives for those in work to reach ﬂuency in our three key languages. That would include funding a new institution to train local teachers to teach English as a foreign language. This would not only create jobs, but would help to build the skills base of Hong Kong people, in particular our youngsters who are emerging into an ferociously competitive employment market.
Signiﬁcant funding for lifetime training:
Education does not stop when you leave school or university, and our education budget should not stop there. As we emerge from recession, local companies big and small can equip our workforce as fast as possible with the skills they need to drive our competitive future. For those already in work, we all need a means of continuously topping up our skills, and we need a structured approach to this challenge. Why not provide incentives for employers to enable sabbatical study leave or outside work experience every three years? While I was at the Financial Times, which had such a policy, I spent one sabbatical training young business journalists at the China Daily in Beijing, and another attached to the Hong Kong Trade Development Council. I gained hugely from the outside experience. So too did the Financial Times. It cemented my loyalty, and motivated me to develop new skills and experience.
Fund a massive ‘gap year’ programme for school and university leavers:
Each beneficiary would spend a year working on carefully vetted projects outside Hong Kong – not just on the mainland, but also in other countries where self-reliance and wider worldly knowledge could be built. This could be complimented by participation in a programme of community projects inside Hong Kong developed for the long summer vacations. There can be no better way of ensuring our graduates enter our workforce with maturity and sophisticated international awareness. Such an initiative would strike to the heart of the problem of ‘inactive youth’, providing an employment stimulus that could knock a large hole in the daunting youth unemployment problem. Youngsters who are currently alienated and carry a sense of hopelessness about their future would develop a sense of self-worth that would provide foundations for a more conﬁdent working future. Surely the funding needed would be money well spent? With CY Leung and his team just weeks into their new ﬁve year term, surely now is the time for new, fresh ideas that capture the imagination of our communities and demonstrate that we now have an administration that hears – and responds to – the community’s needs.
Shaping the Future Bob Giffords, Giff ffor ords, ords rds, Indep rds nde epen ende dent nt Ba Bob Independent Banking & Technology Analyst and Samanth Sama ntha aM Samantha Mitchell, External Affairs Consultant
In light of the general anxiety surrounding the financial crisis, Bob Giffords and Samantha Mitchell take a hermeneutic look at the way we define our lives and our society.
In the Analects of Confucius, a disciple once asked the master, if a king were to entrust him with a territory, what would he do ﬁrst? Confucius replied, ‘My ﬁrst task would certainly be to rectify the names.’ The disciple was puzzled. ‘Rectify the names?’ he asked, ‘That would be your ﬁrst priority?’ Confucius explained, ‘If the names are not correct, if they do not match realities, language has no object. If language has no object, action becomes impossible and all human affairs fall apart. Hence the very ﬁrst task of a true statesman is to rectify the names.’ Many would say this is a problem in our own times. The economic disorder around us may indeed reflect an inadequate conceptual framework. We are so obsessed with the micro world of short-term efﬁciencies and production growth that we have taken to using ‘names’ of a certain profession – the vocabulary of the mechanical engineer. Yet because of our connected, integrated and interdependent lifestyle, perhaps we need to rethink our world in terms of the biological engineer and the ‘ecology’ of work. The Chinese word suzhi（素質）has a broad meaning by the precise standards of English, but though ancient in origin it is still used by people at all levels of Chinese society today. Roughly translated, it means ‘quality’, but encompasses a more holistic sense of ‘character’, strength, and all round value. Is our future then just about ever increasing gross domestic product? Or should we seek something more, like suzhi that includes the quality of life, health and culture as well as material wellbeing? In the West, the focus is shifting as companies begin to track the triple bottom line of ‘proﬁt, people and planet’. In other words, development is about improving social welfare and husbanding
our precious resources and environment, not just shareholder returns. Increasingly people are recognising that we need to address the macro level ‘effectiveness’ of change in terms of suzhi and sustainable benefits, not just local efﬁciencies. A recent World Economic Forum report highlights that, ‘The strategic use of public policy as an enabler of economic development will intensify, resulting in a competition between nations for policy effectiveness.’ In essence, this means bringing short-term economic efficiency into a harmonious balance with long-term effectiveness to achieve that all-round quality of life known as suzhi.
Changes and Challenges While the world struggles financially, our challenges multiply. Urban populations could expand by 1.7 billion by 2030, adding over three times the population of today’s European Union. By 2050 the global population itself may have increased by 2 billion. Due to this increase, at least 70% more food will be needed to meet the growth along with fresh water, energy and other commodities. With the threat of climate change hanging over us, how will we provide the jobs to enable this expansion? Our challenge is multiplied by rapid technological and institutional change. Everything on the planet is now connected through institutions, technology, regulation and a complex web of financial claims and commitments. Such extreme connectivity has given rise to fast, but unexpected feedback loops triggering the sudden crises or ‘tipping points’ that we have seen time and again.
Britain in Hong Kong
Any discussion of the long-term future should begin with the likely general shape of things to come. Governments and markets now focus on the never-ending stream of events that unfold in the global spotlight of 24-hour news and the storm of social media. However, the emerging robotic world of machine-to-machine (M2M) e-commerce is often ignored by social analysts. Sir Timothy Berners Lee, inventor of the World Wide Web calls this the ‘semantic web‘, where Internet content is increasingly intelligible to machines, not just people. In this robotic world traditional jobs may themselves become scarcer. Bridging the global employment gap is key. By reducing costs and enabling global supply chains, technology has shifted millions of jobs to the emerging markets to make the world much more efficient. However, now that robots are automating non-routine, knowledge-based services as well as repetitive, manual manufacturing processes, even highly skilled jobs are no longer safe. Technologies like mass customisation, conﬁgurable production and self-service have always been crucial for globalisation. Yet, because of the new M2M automation, traditional services are unlikely to resolve our urban employment challenge. To maintain, let alone expand employment, we will need a significant commercial shift. Gaming, sports, culture, travel and other leisure sectors, for example, are now key growth areas.
Facing the Future Human wisdom has been remarkably consistent ever since the days of Confucius, yet we must recognise that the global financial crisis is more than just another inventory or debt cycle. It marks an historical inflection point where globalisation and technology transform our demographic evolution on the planet. For the sake of future generations, we must now innovate our way out of the crisis by rethinking the meaning of suzhi in a new global context of cyber cities, instant 24-hour communications and the next stage of human development. As knowledge accelerates the pace of change, we must learn to live with uncertainty. There will be a new world of work, leisure and learning, increasingly constrained by resources, energy and water. Science may solve some of these challenges by leveraging the combined brainpower of 7 to 9 billion people served by countless computers. However, to get there we need to rebalance the yin yang of the short and long-term, refocus on effectiveness, and not just “GDP only” efﬁciency. Only by “rectifying the names” to better understand our emerging, interdependent world can we start to shape our global future. For more information, please email: Bob.Giffords@btinternet.com or firstname.lastname@example.org
Efﬁciency versus effectiveness Efficiency is primarily a microeconomic concept: we look at our inputs and work out how to produce more with less. When combined with competition efficiency drives amazing levels of innovation, as eloquently demonstrated by the growth of the Internet. The recent, jobless recovery in the advanced economies together with commodity inflation also reveals the diminishing returns of focusing too much on short-term microeconomics at the expense of long-term, macro needs. Minimising costs is useless if nobody has a job to afford the goods and services produced. Of course, rising debt can postpone the inevitable reckoning, but eventually income must balance expense. Debtor economies will have to save and invest much more to allow emerging markets to adequately expand their own consumption. Effectiveness, on the other hand, looks at life in the round and considers the sustainable, macro-economic and social consequences of our actions, including suzhi. We all must plan for an old age that could last for 30 or 40 years and be confident that markets will not destroy our savings through crisis and inﬂation. While the advanced economies have been very focused on efﬁciency, China and other emerging markets have been more adept at taking a long-term view. Yet both perhaps have focused too much on one without the other.
– The islands of sand sea & smiles
With twice weekly direct flights; Ex. Hong Kong onward connections to Oz & N.Z.
Before taking your vacation in paradise, visit our website www.fijiholidays.com.hk to review the resorts on offer.
2526 3391 Concorde Travel was established in 1978, the leisure travel specialists
Licence No 350343
Child Homelessness in Mongolia The Christina Noble Children’s Foundation (Hong Kong) Ltd
Mongolia is a country in transition. In 2011, it was the fastest growing economy with a GDP growth of 17% and has received billions of dollars in foreign investment. However, despite the economic boom, unemployment is high and one third of its 2.8 million people still live in poverty. Both parties in the recent elections promised better wealth distribution from the mining boom that has so far failed to benefit the most vulnerable in the country. Following the collapse of communism, Mongolia is one of the few functioning democracies in a region of autocrats. However, this newfound political freedom has not brought the desired prosperity. After several extreme winters
and summer droughts that decimated livestock herds, thousands of herders from the countryside descended upon the capital Ulaanbaatar in search of work. With little education or transferable skills, families have found themselves unemployed and forced to reside in the ger (traditional Mongolian tents) district slums on the outskirts of the city eking out a miserable existence without potable water, adequate sanitation, heating or electricity. Many families are forced to seek a small income from scouring the large rubbish tips for anything they can sell. Alcoholism amongst this socio-economic group is endemic and as a result children are often neglected, malnourished, and suffering from untreated accidentrelated injuries or domestic violence. Many are forced to work on the streets to earn an income to support their parent’s habit where they are then exposed to street violence and organised crime. Under such intolerable living conditions many run away from home and it is these children that urgently need help. In a city where the average winter temperature is -30°C, having no shelter can prove fatal. Harrowing images of homeless children as young as four years old sleeping in the underground heating network in an attempt to escape the severe coldness of
Britain in Hong Kong
winter, has brought their plight to the world’s attention. The government’s reaction to this unwanted media attention was to seal the underground tunnels shut: a quick-fix but far from a solution to the issue of homelessness in Ulaanbaatar. Whilst poverty is not always so immediately apparent in a city that boasts Louis Vuitton and Emporio Armani stores amongst its newly constructed skyscrapers, extreme hardship still goes on behind closed doors in the sprawling ger district. One organisation looking to help those impacted by homelessness is the Christina Noble Children’s Foundation, which has been operating in Mongolia since 1997. Christina Noble was a street child herself and used her experience to found the non-profit organisation to help children in danger of or already suffering from severe neglect and abuse. With an active fundraising office in Hong Kong, many Hong Kong businesses, clubs, schools and individuals have supported the work of CNCF over the years to tackle some of the problems associated with homelessness.
CNCF operate a residential Ger Village for children whose family circumstances have become too desperate, or who have been abandoned or orphaned. This shelter is home to over 60 children, providing a loving, stable and safe environment where children are able to continue their education whilst taking part in extracurricular activities to help them express themselves creatively and develop their self-conﬁdence. Aware of the importance of keeping families together, CNCF’s ‘Give A Ger’ programme also helps struggling families who are at-risk or already made homeless by providing them with a new ger and furniture. One of the cornerstone programmes of the Foundation is the Child Sponsorship Programme (CSP). CSP provides ﬁnancial and welfare assistance to families whose children are in danger of dropping out of school or who are exposed to potential risks of neglect, domestic abuse and child labour. The cost of sponsoring a child is just HK$245
per month, the same as buying the SCMP for a month, yet this provides each child with educational assistance, vital basic nutrition and primary healthcare. CNCF currently helps over 1,300 children in Ulaanbaatar and the surrounding countryside, allowing them to remain with their families by taking away some of the ﬁnancial burden. To enable them to continue with their work, CNCF has been fortunate to enjoy the support of many Hong Kong organisations and individuals. One such organisation is The Rotary Club of North Kowloon which has now maintained a ten-year relationship with CNCF, donating HK$ 1.64 million to projects in Mongolia. In particular, the Rotary Club of North Kowloon helped to fund the CNCF Medical Centre in Ulaanbaatar which treats impoverished children for a range of diseases and injuries as well as offering clothing and shower facilities for street children. Children in Hong Kong have also been big supporters of CNCF. Recently, students from Year 6 at Clearwater Bay School tackled the issue of homelessness in Mongolia as part of their end of year exhibition providing well-researched insights into the causes and effects of the problem. Each year as part of the International Baccalaureate, Year 9,10 and 11 students from the Chinese International School visit the CNCF centre in Mongolia to gain a deeper understanding of the issues facing impoverished children and to lend a hand erecting two gers that they raised money towards. “It took 3 hours to carry the materials uphill and put everything together in the freezing cold,” team member Rachel Cheung remembers. Matthew Lau was also part of the 13-strong team and describes his experience as a ‘realitycheck’ as he learnt how some of the world’s poorest live. If you would like more information on the work that CNCF are doing, fundraise on our behalf, or make a donation, please visit www.cncf.org. hk or call Mai Ling Turner on 2832 2186. Help give children back their childhood.
Henley Business School welcomes Her Majesty the Queen for Diamond Jubilee Garden Party Henley
Business School was delighted to welcome Her Majesty The Queen and His Royal Highness The Duke of Edinburgh for a summer garden party on Monday 25 June. Hosted by the Lord Lieutenants of Berkshire, Buckinghamshire and Oxfordshire, over 4,000 guests attended the event held on the beautiful lawns of Henley Business S c h o o l ’s h i s t o r i c G r e e n l a n d s campus. The event was part of HM The Queen’s UK-wide Diamond Jubilee tour and the stunning Thamesside setting, just outside Henley on Thames, and under glorious skies, provided the perfect backdrop for the celebration. Guests included people from all walks of life including representatives f ro m p u b l i c l i f e , b u s i n e s s a n d commerce, the armed services, the arts and sports and media. Over a quarter of the guests were members of the public selected by a public ballot.
The event commenced with a river pageant marking the role and impact of the River Thames on the Thames Valley region for more than 1,000 years. Over 30 boats including a Viking boat crewed by the University of Reading rowers featured in the pageant showcasing all aspects of the River. The event was part of HM The Queen’s UK-wide Diamond Jubilee tour. It also formed part of a major Jubilee Fund raising appeal for the four Thames Valley Community Foundation charities (Berkshire, Buckinghamshire, Oxfordshire, and Milton Keynes), which exist to strengthen communities and enrich local life by inspiring and supporting charitable giving. Guests enjoyed a fly past of RAF helicopters before Her Majesty unveiled a commemorative plaque and cut a celebratory cake. Sir David Bell, Vice-Chancellor of the University of Reading, who
greeted Her Majesty on her arrival at Greenlands, said: “We were honoured and delighted to be the venue for the visit of her Majesty The Queen and His Royal Highness the Duke of Edinburgh. The event gave the University an opportunity to showcase the outstanding facilities at our Henley Business School and it was clear to all the visitors on the day that the Royal party enjoyed the event immensely.” Professor John Board, Dean of Henley Business School, said: “Henley Business School was extremely proud to be working with the Lords Lieutenant of the three counties to support our region’s celebration of Her Majesty the Queen’s Diamond Jubilee. Henley Business School, founded in 1945 at Greenlands, by business for business, is one of the oldest and most respected schools in Europe. The School continues to play a crucial role in supporting our region by providing leadership training for many individuals, businesses and other organisations.”
Britain in Hong Kong
The Henley MBA, Changing Lives Around the World In October, the wonderful campus will welcome the start of a new intake of the Hong Kong based Henley MBA. The programme members will begin a journey that will not only enrich and enhance their work life but will, for many, prove to be a life changing journey. Mark Sharp, former Hong Kong Police Ofﬁcer and former Senior Investigator with the Independent Commission Against Corruption (ICAC), has just completed his MBA studies at Henley and says “I can honestly say that the Henley MBA experience has changed my life and my career. It is an intense and rewarding experience. It is a challenging, stimulating and a very practical programme. It provides you with new outlooks that will shape your decisions and actions throughout your life. To have that programme available here in Hong Kong and with all the support was a huge bonus.” Mark is now the Group Head of Security at Shangri-La Hotels & Resorts. Embark on the Henley MBA in October and you will encounter an enriching experience that will allow you to study alongside top International managers (The Henley MBA is ranked No1 in the World for student quality by The Economist, 2011) from around the globe and share their experiences and knowledge. You will instantly join a network of 32,000 Alumni in 140 countries and described by The Economist rankings as “The Number One in the World for potential to network.” The value and practical nature of the Henley Programme distinguishes it from many of its rivals. A view conﬁrmed by Michael T.K. Cheung, Executive Director, Tse Sui Luen Jewellery (International) Ltd and General Manager, TSL Jewellery (Export) Co. Ltd. who says “taking the Henley MBA program is probably one of the best decisions I have ever made in my life. Throughout the entire programme, I have developed and elevated my organizational and analytical skills to a whole new level. The program was practical. The course contents stimulated me to apply academic principles in real-life work environments.” Henley Business School is a world-class global business school with a unique profile, and has overseas campuses in Finland, Germany, South Africa and here in Hong Kong. Established in 1945, it is the oldest Business School in Europe and has a rich heritage and pedigree for developing business leaders throughout the world. It is one of the few global business schools to maintain triple accreditation status, awarded by the 3 major accrediting bodies in the UK, Europe and the US, and is highly ranked in the world’s major league tables and rankings. Delivering a truly International MBA programme in one of the World’s great Global cities creates a unique experience for the participants. As Neil Logan, Director for International Business of Henley Business School, explains “Around 60% of Henley MBA Hong Kong participants are not local to Hong Kong but are from countries like Canada, the US, Denmark, Japan, Italy, South Africa and of course the UK. The programme members, all mid to senior managers, have a chance to work with other experienced executives from many industries and different cultural backgrounds. They can also learn different business practices from fellow international students as well. Whether your ambition is to remain in Hong Kong, go elsewhere, or return home, choose a MBA program that is internationally recognized with a curriculum that challenge you to think in a global perspective and will have an impact on your life and your international career.”
Information Session Time : 6:30 pm Date : Wednesday, 29 August, 2012 Venue : Room 5410, Hopewell Centre, Wanchai, HK To register please send details to Neil Logan: email@example.com or visit our website www.henley.asia for further details For further information please contact Neil Logan: firstname.lastname@example.org or call +852 2529 9377
The Standard Chartered Bank and British Chamber of Commerce Annual Ball Thank you to everyone who joined us at the Grand Hyatt on Friday 8th June for the Standard Chartered Bank and the British Chamber of Commerce Annual Ball 2012. Inspired by the theme, ‘Sir Dance A-Lot’, guests were dressed in royal robes and shining armour to enjoy a medieval night of magical entertainment in a ballroom transformed into a magnificent banqueting hall fit for a king. Guests were welcomed with themed cocktails, before taking a seat at the Round Table and filling their goblets to the brim with wine and tucking into a sumptuous feast. Highlights on the menu included ‘spit-roasted’ lamb shank braised with wine & herbs, sherry trifle and classic British cheeses. After dinner whisky was kindly provided by Glenmorangie. The night was filled with non-stop entertainment as the guests marvelled at the colourful pageantry with the dancers dressed up as monks, knights and show girls for a thrilling stage performance. The band and merry minstrels had the guests rocking all night long, ensuring that everyone had a ‘Boogie Knight’! The British Chamber chose Youth Outreach as the designated charity for the Ball, and through various fundraising activities we have raised over HK$ 420,000. Prizes in the Live Auction were generously donated by Chamber members and other luxury brands and included a Lady Sarojin experience at the Sarojin Resort, Phuket, a two-night beach break in Boracay donated by Discovery Shores Boracay and Cebu Pacific Air, a classic Timothy Oulton leather professor chair, a five-night stay in the Maldives donated by Lightfoot Travel, and a superb ‘Queen Elizabeth II’ invitation card signed by Andy Warhol. All guests at the Ball took home a fabulous gift bag with prizes kindly donated by Chamber members including: Heyland & Whittle Reed Diffuser from colourliving, Twinings London Bus Tin, vouchers from Sheer luxury designer lingerie, gifts from British brand Accessorize, a gift bag of Marks & Spencer favourite food items and a copy of Hong Kong Tatler special Diamond Jubilee issue. A huge thank you to all those who sponsored the event, which really would not be possible without the support of our members!
Britain in Hong Kong
Upcoming Events Women in Business Networking Lunch Event date: Thu, 23/08/2012 - 12:30 - 14:00 Venue: The Watermark Shop L, Level P, Central Ferry Pier No. 7, Central Come and join the Women in Business Networking Lunch, a great chance to network with fellow female chamber members. Non-members are also very welcome to attend.
The Sustainable Enterprise – Why all businesses should actively be saving the planet Event date: Fri, 24/08/2012 - 08:00 - 09:15 Venue: Red Room, 2/F, The Hong Kong Club, Central Speaker: Christopher Riley, Managing Director, Sercura Ltd. The business case for sustainability is strong, with the potential to reduce operational costs, win new customers and retain existing contracts. The talk will focus on the various options open to companies working in Hong Kong or in China when it comes to real action related to controlling the carbon footprint in their operations.
Scottish Business Group Farewell to Andrew Seaton Dinner Event date: Mon, 03/09/2012 - 19:00 - 22:00 Venue: The Happy Valley Suite, The Hong Kong Football Club, 3 Sports Road, Happy Valley Speaker: Andrew Seaton, British Consul-General to Hong Kong and Macao Join the Chamber’s Scottish Business Group for a Farewell Dinner for Andrew Seaton, British Consul-General to Hong Kong and Macao.
Inspirational Women Series – The Business of News: The Rise of Women in the Media and Publishing Industry Event date: Thurs, 06/09/2012 - 12:30 - 14:00 Venue: MPR1-3, Level 41, Barclays Hong Kong Ofﬁce, Cheung Kong Center, 2 Queen’s Road Central Speaker: Christine Brendle, Managing Director of Dow Jones Asia-Paciﬁc and Publisher of The Wall Street Journal Asia The Women in Business Committee are delighted to invite you to hear Christine Brendle, Managing Director of Dow Jones in Asia and Publisher of The Wall Street Journal Asia, speak in the Inspirational Women series, sponsored by Barclays. At the luncheon discussion, Christine will share her experience and insight on the changing role of women in the media and publishing industry.
New Appointments Jones Lang LaSalle Hong Kong Announces Regional Director Promotions in Hong Kong International real estate ﬁrm Jones Lang LaSalle has announced the promotion of two high-calibre real estate professionals to the position of Regional Director in Hong Kong. With combined experience of over thirty years, Paul Yien and Richard Myers both have very successful track records in the area. Mr Yien has made his mark in project leasing, particularly in the marketing and leasing of Grade A office developments in Hong Kong. His extensive experience in advising and negotiating on behalf of multinational companies has led him to advise on over 300 leasing transactions. Mr Myers has had over 18 years experience in architectural design, project and facility management in both Europe and Asia. Richard is widely known for his expertise in location, feasibility studies, ﬁnancial analysis and organisational strategy advice. He has also has an extensive understanding of working with many Hong Kong based blue chip organisations and leading multinationals. “Throughout the years, Paul Yien and Richard Myers have demonstrated their ability to provide quality advice to our clients and make signiﬁcant contributions to the success of our business in Hong Kong” said Gavin Morgan, Chief Operating Officer and Head of Leasing, Jones Lang LaSalle, Hong Kong. “The promotions recognise their valuable contributions and I am sure they will continue to utilise their professional knowledge to help expand the business. I congratulate them.”
Take your business to new heights
Baker Tilly Hong Kong Business Angel Programme Calling all Start Ups! If you have a great idea or have started a new business and are looking to grow, the Chamber would like to help. The Baker Tilly Hong Kong Business Angel Programme, run by the British Chamber of Commerce, brings entrepreneurs and investors together to create exciting new partnerships. It gives entrepreneurs with new business ventures, or SMEs looking for funding to expand, the opportunity to present their business plan to potential investors (known as Angels). Applicants, who do not need to be members of the British Chamber of Commerce, should be seeking to raise between USD100,000 to USD2,000,000. Short-listedapplicants will be given advice and assistance by a sub-committee of experienced professionals. The next event will be taking place on Thursday 22nd November and the deadline for applications is Monday 8th October 2012. If you’re an entrepreneur or SME looking for investment, and would like to ﬁnd out more about our programme, please visit angel.britcham.com or email email@example.com
Britain in Hong Kong
Perspective Interview with Ben Dickinson, Head of Hong Kong Markets, Jones Lang LaSalle Hong Kong How’s business? We are in challenging times from a global economic perspective at the moment and the Hong Kong commercial leasing market is not immune to this but on the whole business for the first half of 2012 has been reasonably good. We are fortunate at Jones Lang LaSalle to have an incredibly strong and experienced team who are working very hard to maximise the opportunities for our clients and this has resulted in a busy and productive ﬁrst half of 2012. Overall we are reasonably optimistic for the year and moving into 2013. What are your plans for your team in the coming year? Our primary focus will be to continue to provide high quality service to all of our clients and assist them in any way we can on their commercial office space. From a management perspective we take a huge amount of pride in the team we have built and my focus will be on the further development of this team. We will be implementing a number of initiatives around training and business development to ensure we maintain our strong position in the market. How did Jones Lang LaSalle first begin business in Hong Kong? We opened here in 1973 and were one of the ﬁrst international real estate advisors in the city, originally operating out of the Hilton Hotel. What does your work involve personally? I’m now the head of the Hong Kong Markets Team meaning I have management responsibility for over forty people. However I will still continue to work personally with my key clients in the market. Our team as a whole offers a full suite of services for ofﬁce leasing for both landlords and tenants. This can range from Landlord sole agency appointments to full Tenant Representation on office acquisitions, lease renewals, restructures and rent reviews. What’s the most exciting business-related news you’ve heard recently? It is not especially recent but the most exciting business development in recent years has been the rise of Asia as a global force. It has created huge opportunities in this part of the world and made it a fantastic and exciting place to develop my career.
How does the British Chamber of Commerce add value to your business? Hugely! It’s a great asset to Jones Lang LaSalle as a company, and me personally. We get direct business from them as well as marketing and networking opportunities, including breakfast briefings and our continued sponsorship of the five-a-side football competition, which is a fantastic event. As you know we’ve just upgraded to Sterling membership, and that is a reﬂection of the value we see in the Chamber. How long have you been living here? It will be twelve years in October. After working in London for a couple of years an opportunity presented itself so I took it. I think I was very fortunate in my timing when I arrived here as Asia had really started to take off. Hong Kong has been a great place for me both personally and professionally and I hope that will continue. What’s your favourite spot in Hong Kong? Sai Kung Country Park. It is a beautiful part of the world, snakes aside, and is a great place to ﬁnd some peace and quiet after a busy week in the city. What’s the biggest change you’ve noticed since you’ve been here? The influence of China. When I arrived in Hong Kong the presence was deﬁnitely there, but I don’t think that the business and general community necessarily viewed it as they do today. Retail shops are more geared towards the mainland customer and everybody is focused on the opportunities over the border now. Mandarin seems to be much more widely spoken. The housing market has also been hugely impacted in my time here. What would you say is the chief issue that you’re concerned with in Hong Kong at the moment? From a real estate perspective, the lack of new high quality commercial office supply planned in Hong Kong in the next ﬁve years really needs to be addressed as other locations in Asia get increasingly competitive. The lack of international schooling is also a concern. I’m the father of a young child so this affects me directly. I know the Chamber has been ﬁghting very hard to improve the situation and hopefully we will see the beneﬁts of this. What’s something you’ve learned recently that you didn’t know before. Long distance plane travel with a young child is not fun!
The British Chamber’s Sterling Members
Thank you for your continued support
Member Discounts Food and Beverage and Accommodation Accor | Members will receive 10% discount on top of the lowest rates that Accor’s Asian hotels are offering on the day. This applies to over 1600 Soﬁtel, Pullman, MGallery, Novotel, Mercure, Thalassa & Orbis hotels worldwide. You will also receive 5% discount on top of the best unrestricted rates for hotels including ibis (in speciﬁc countries), All Seasons & Hôtel Barrière. For more information please contact Regina Yip on 2868 1171 or email firstname.lastname@example.org Alfie’s | Members of the British Chamber of Commerce can benefit from a 10% discount at this chic restaurant in Hong Kong. To make a reservation please call 2530 4422 or email email@example.com Berry Bros. & Rudd | Members can beneﬁt from a 10% discount on all retail prices as well as receiving invitations to free tastings and other wine events during promotional period. For more information please call 2907 2112 Courtyard by Marriott Hong Kong | Members will receive a 10% discount on food only in MoMo Café. To make a reservation please call 3717 8888 Dot Cod | All members of the British Chamber of Commerce of Hong Kong will receive a 10% discount on the bill. For more information please call 2810 6988 or email firstname.lastname@example.org Grand Hyatt Hong Kong | 15% discount on food and beverage at The Grill and 10% discount on treatments upon spending HK$1,000 at Plateau Spa. To make a reservation please contact The Grill on 2584 7722 or the Plateau Spa on 2584 7688 Hyatt Regency Hong Kong, Tsim Sha Tsui | 10% discount at The Chinese Restaurant, Hugo’s, Cafe and Chin Chin Bar (except during happy hour). To make a reservation please call 2311 1234 JW Marriott Hotel Hong Kong | Members will receive a 10% discount on the total bill at Man Ho Chinese Restaurant, JW’s California, Marriott Cafe, The Lounge, Riedel Room @ Q88, and the Fish Bar & Grill. To make a reservation please call 2810 8366 Le Méridien Cyberport | Members can book a Smart Room at the special rate of HKD1,600 including a daily eye-opening buffet breakfast (subject to availability). You will also receive 20% discount at 5 of the hip restaurants and bars that the hotel has to offer. Furthermore, when you book the 21-day long room package at HKD23,100 you will receive a ‘Round Trip Limousine Service’. For more details please call 2980 7785 Hong Kong Skycity Marriott Hotel | Members will receive a 10% discount on the total bill at Man Ho Chinese Restaurant, SkyCity Bistro, Velocity Bar & Grill, and The Lounge (Promotion does not apply to alcoholic beverages). To make a reservation please call 3969 1888 Renaissance Harbour View Hotel | Members will receive a 10% discount on the total bill at Michelin Star Dynasty Chinese Restaurant, all day dining at Cafe Renaissance, Scala Italian Restaurant and the Lobby Lounge. To make a reservation please call 2802 8888 The Mira Hong Kong | Members will be given special room rates, a complimentary upgrade and fantastic discounted rates on the Spa suite package (subject to availability). For more information please contact Connie Kwan on 2315 5666 or email connie. email@example.com W Hong Kong | Members will receive fantastic offers at Kitchen and Sing Ying. Dine at either of these restaurants and receive complimentary discount vouchers to use at your next meal. For more information or to make a reservation please call 3717 2222
Britain in Hong Kong
There are many great benefits of being a member of The British Chamber of Commerce. One of those is the Member Discounts programme which is an exclusive package of discounts that range from discounted car rental, reduced hotel accommodation, airfares and even relocation costs. Every six months we invite members to prepare a tailor made offer to all the members of the British Chamber. You can ﬁnd these beneﬁts listed below and for more details please visit our website www.britcham.com
Home Allied Pickfords Hong Kong | Allied Pickfords will extend a free local move for any Home Search completed by SIRVA Real Estate. For more information please call 2823 2089 or email firstname.lastname@example.org Bowers & Wilkins | B & W are offering members a 10% discount on all listed price items in the B&W Showrooms in Tsim Sha Tsui and Central. For more information please call 3472 9388 or 2869 9916 Colourliving | As a member of the British Chamber of Commerce, you can enjoy a 10% discount on all normal price merchandise when shopping at Colourliving in Wanchai. Please call 2510 2666 or visit www.colourliving.com
Travel & others Avis | Members can receive up to 20% discount off standard rates on car rental bookings. To make a booking please call 2882 2927 or visit www.avis.com.hk British Airways | As a member of the British Chamber of Commerce you can enjoy an exclusive offer of 7% discount from British Airways. To make a booking please visit www.britcham.com/memberdiscount/british-airways Compass Ofﬁces | Compass Ofﬁces, Hong Kong’s largest Serviced Ofﬁce provider, offers members a 10% year round discount on meeting rooms, a free one hour Telepresence or Video Conferencing session and a 3 month complimentary Virtual Office package. For more information please call 3796 7188 or email hksales@ compassoffices.com Flight Centre | Members will receive HKD150 off the ﬁrst booking made as well as a complimentary Airport Express ticket per booking. For all holiday and flight enquiries please call Paul Jeffels on 2830 2793 or email email@example.com The Hive | The Hive is offering one additional month’s membership at no extra charge for any member who signs up for 6 months. For further details, please visit www.thehive.com.hk Virgin Atlantic Airways | Special offers to London are available exclusively for members of the British Chamber of Commerce. Please call 2532 6060 for more details or to make a reservation VisitBritain | British Chamber members can get 5% on all purchases from VisitBritain’s online shop by entering the code TR7DE67! at the checkout. Please visit www.visitbritaindirect.com/world for further details.
Terms and Conditions apply. All member discounts are subject to availability. If you are interested in providing a tailored offer to our members or for more information please contact Emily Ferrary on 2824 1972 or email firstname.lastname@example.org
MEMBER GET MEMBER 2012 e th to l a rr fe re l u sf es cc su a Make British Chamber of Commerce o! tw r fo l ea m ic st ta n fa a y jo en and The British Chamber is delighted to announce that the Member Get Member 2012 campaign is well underway! If you successfully introduce a company that results in them becoming a member of the Chamber, you will receive a fantastic dinner for two courtesy of one of our top member restaurants in Hong Kong. Not only that, all referring members will be entered into a prize draw to win a $2,000 voucher to go towards your holiday provided by Flight Centre!
AND if you happen to refer the most new members to the Chamber, you are in for a real treat for you and your friends! A complimentary dinner for four at Sakesan, the newest Robatayakibar, courtesy of Cafe Deco Group.
Sakesan Sakesan is the newest Robatayakibar in the heart of the bustling Soho area. It offers a range of exquisite dishes fresh from their robata grill, as well as other Japanese culinary delights, all rendered with a modern twist. Designed by Fiona Bagaman and Mirei Lim, Sakesan uses different wood and stone tones with ﬂashes of black and gold to create a serene, relaxed and cool space. Funky, colourful sake barrels wrap the bar area and frame the individual dining booths and an illuminated Japanese urban scene gives the bar a warm glow as well as striking visuals. Signature dishes include homemade steamed tofu, salmon miso, lobster dumplings and SAKESAN black cod. There is also a cool bar featuring a top range of sakes, shochus and awamoris with a superb range of cocktails made with these classic Japanese ingredients. To compliment this they also offer a selection of some of the ﬁnest, most thirst quenching beers to emerge from Japan.
To enter: • • • • •
Consider who among your contacts might be interested in joining the Chamber Email email@example.com with the name and contact details of your suggested company If appropriate, contact your suggested company and let them know that the Chamber will be in touch The Chamber will follow up with each suggestion directly If your referral is successful, the Chamber will contact you with details of how to book your dinner. Your name will also go into the prize draw which will be drawn in March 2013.
Britain in Hong Kong
So what are you waiting for? Spread the word throughout your network to enjoy a complimentary meal for two at one of these fantastic member restaurants:
Lobby Lounge, Conrad Hong Kong Featuring the spectacular views of the Hong Kong skyline and live entertainment, the Lobby Lounge is the ideal venue for private meetings or relaxed gatherings with friends. From salad bar to noodle station, and delectable hot dishes to exquisite desserts, the Southeast Asian themed supper buffet showcases an impressive range of more than 50 scrumptious all-time favourites.
The Bostonian, The Langham, Hong Kong This well-established restaurant has been a Hong Kong favourite for well over a decade. Located at the lower lobby level of The Langham, Hong Kong, The Bostonian has an excellent reputation for its superb steaks, and more recently its fully sustainable seafood menu. Featured by one of Hong Kong’s inﬂuential restaurant bibles, “The Hong Kong Best Restaurant Guide” since 2000 and recommended by The Michelin guide, the Bostonian is a hallmark for impeccable service and exceptional food. Guests can indulge in a tantalising array of fresh seafood from around the world at the “Raw Bar”, including home-made smoked salmon, prawns, crabs and freshly shucked oysters. The enticing menu also includes gourmet favourites such as maine crab cakes, sautéed foie gras, clam chowder, as well as separate menus for the restaurant’s specialties – the Boston lobster galore, seafood sharing platters and Bostonian grill.
KITCHEN, W Hong Kong Kitchen is a modern bistro with a capacity of 200, reflective of W’s signature stylish and fun design. Upon arrival to KITCHEN, the mad hatter’s tea party in “Alice in Wonderland” brings guests to a world of fantasy. Cats play and jump around the stacks of plates, inviting guests to join their games too. KITCHEN’s modern interpretation of timeless classics and equally innovative original masterpieces ﬁll a menu that’s designed to tantalize and satisfy even the most discerning gourmands. Guest can indulge in the fun world of kitchen, while relaxing in the pleasant and interactive dining experience, sampling the delicate cuisine on offer from all over the world.
cafe TOO, Island Shangri-La, Hong Kong T The innovative cafe TOO brings casual dining to a higher level of creativity. Their ten cooking theatres, each featuring a different culinary style, are showcases for the best of international cuisine as well as stages for their chefs' engaging performances.
Café Renaissance, Renaissance Harbour View Hotel Hong Kong Café Renaissance is the perfect place for all day dining. Located on the Mezzanine ﬂoor, the 210-seat all-day dining café serves a wide variety of dishes from all over the world. Café Renaissance serves wholesome breakfasts, chef crafted lunches and dinner buffets plus à la carte menu daily and brunch on weekends, in a warm and welcoming atmosphere. In addition to the great array of fresh seafood delights using the freshest ingredients, guests can also enjoy a tantalizing array of international favourites and local specialties from live cooking stations.
Terms & Conditions • • • •
You must be a member of the British Chamber to be eligible for this offer The dining vouchers will only be provided if your referral results in a new member for the Chamber This offer is valid for all members whose referral results in a new Corporate, Overseas or Startup member of the Chamber. It does not apply to Additional members or additional YNetwork members The Chamber will allocate the restaurant vouchers. Members will not be able to choose which restaurant they visit and must adhere to the terms and conditions
News British Chamber of Commerce 25th Anniversary Gala Dinner and ‘Best of Britcham’ Awards 2012 2012 marks the British Chamber of Commerce’s 25th year in Hong Kong. In celebration of this event, a dinner is being hosted for all members to attend on Thursday 29th November. The Gala dinner will go forth in an effort to highlight not just the contributions made by Hong Kong’s Business community, but also their outstanding achievements. The award ceremony is open to all member companies as an opportunity to showcase the current projects and initiatives of all sectors. Companies are encouraged to nominate their colleagues for an award, enabling them to gain recognition on a corporate level. The Chamber hopes that the 29th November will be an enjoyable occasion for all to attend, whether nominated for an award or simply there to enjoy the festivities.
Grant Thornton Rebrands across China Hong Kong’s Grant Thornton has recently announced the rebranding of their new Chinese name “致同” across China. The new name will be the ofﬁcial Chinese version for Grant Thornton International on a worldwide basis, and will be adopted whenever business is conducted in Chinese. As part of the company’s “one ﬁrm, one China” approach, the rebranding follows a signiﬁcant union in mainland China, which enhanced the full integration of the ﬁrm’s resources. Chief managing partner at Grant Thornton China, Xu Hua said: “Over the past year, the ﬁrm has made signiﬁcant progress to expand its business across its integrated network in Hong Kong and mainland China. We have been a leading adviser in practice for over 30 years and the rebranding marks a signiﬁcant milestone” “As we begin this next chapter, we believe that our approach will continue to ensure our services to the China-wide market are seamless, genuinely collaborative and will make a difference to businesses.”
Marrow Donors Upon hearing the news that their friend was diagnosed with leukaemia a group of fourteen close friends came together in efforts to spread awareness. The individuals have since initiated a Hong Kong and Asia Paciﬁc wide information campaign to combat the disease. On average, 85,000 people are already registered as bone marrow donors and these numbers are rising by three to four hundred per month. The Red Cross is in need of people from all ethnicities to ensure a signiﬁcantly diverse choice of marrow. The team are asking the local community to register with the Red Cross as voluntary donors in hopes that even one volunteer could be a match for those in need. The campaign strives to help all patients across Hong Kong waiting for a bone marrow donation. For more information, please contact Beatrice Remy +852 9139 2702 or Remybea@yahoo.co.uk
CBRE Finds Hong Kong-CBD World’s Most Expensive Office Market; London-West End Follows; Tokyo Third According to CBRE’s latest Prime Ofﬁce Occupancy Cost report, as of March this year Asia-Paciﬁc now holds increasing sway in the global commercial real estate market. Compiling ofﬁce rent and occupancy data from 133 cities globally, Hong Kong CBD has now been recorded as the world’s most expensive ofﬁce market, accounting for six of the top 10 most expensive worldwide. Hong Kong’s CBD led the ‘most expensive’ list with overall occupancy costs of around 248.83 USD per square foot. This ﬁgure topped London’s West End, which despite its 4.7% year over year increase, had total occupancy costs of 220.15 USD. Tokyo has also been pronounced the third most expensive market for ofﬁce-space, followed by Beijing’s Jianguomen and Moscow. Of the top 50 ‘most expensive’ markets, 19 are in Asia-Paciﬁc, 19 are in EMEA and 12 are in the Americas. CBRE’S Global Chief Economist, Dr. Raymond Torto, said: “The most expensive ofﬁce locales are increasingly located in dynamic markets across the emerging economies as ofﬁce occupiers diversify their global footprints.” Other Asia-Paciﬁc markets in the top ten include Beijing-Finance Street (6th), Hong Kong-(West Kowloon) and New Delhi-Connaught Place, CBD (9th).
Foreign Banks Find Footing in China After an initial period of struggling to ﬁnd solid footing in China, foreign banks operating in the country may be ﬁnally hitting their stride. A recent PwC survey released on July 17th shows the recorded proﬁts from the Banks’ China Operations. China’s 181 foreign banks more than doubled proﬁts from RMB 16.73 billion in 2011 to RMB 7.78 billion in 2010. Despite the country’s subdued economic outlook, foreign banks are nonetheless predicting annual revenue growth of 20% or more until 2015. The banks are also supportive of Shanghai’s plan to become an international financial centre (IFC) by 2020 and believe that they can play a major role in making it happen. However, the banks say that in order for Shanghai to really claim to be an IFC, the liberalisation of interest rates and renminbi is critical.
We Collect and deliver your car FREE OF CHARGE (subject to distance) We provide good, quick repair service at reasonable prices
Our competitive Labour charges:
Tune Up Engine
Engine Decoke & Grind Valves
Brake System Overhaul
Clutch Mechanical Overhaul
Air Condition Freon Recharge
Starter Motor Overhaul
ALL REPAIRS WITH THREE MONTHS GUARANTEE
Our Business Hours 8am-6pm, Mon-Sat & Public Holiday Our 24hrs. Emergency Towing Agent “Firstone Towing Services” 8203 3411 Please call us at 2565 6166 or Fax: 2856 1047 E-mail Address: firstname.lastname@example.org
FOOKIE MOTORS CO. LTD. Shop 7, G/F, Paramount Bldg., 12 Ka Yip Street, Chai Wan, Hong Kong.
The 7th PwC survey report shows that China has seen some depressing economic data lately, but far from being discouraged; the foreign banks that were surveyed say they remain committed to China, more so now than ever.
Britain in Hong Kong
New Members New British Chamber Members for June
Dundons Solicitors Chris Dundon Principal Tel 2971 0386 email@example.com Rm 802-803, Lucky Building, 39 Wellington Street, Central, Hong Kong Legal
Oliver Grifﬁths Tel 6890 3587 ogrifﬁths@jefferies.com 22/F, Cheung Kong Centre, 2 Queen’s Road Central, Hong Kong
KPMG David Tait Assistant Manager, Private Equity Tel 2140 2813 firstname.lastname@example.org 8/F, Prince’s Building, 10 Chater Road, Central, Hong Kong Accounting
DTZ David Watt Head of Business Development & Client Services Tel 2507 0777 email@example.com 16/F, Jardine House, One Connaught Place, Central, Hong Kong Property / Real Estate Services
JPA Asia Paciﬁc Ltd James Pritchard Group Managing Director Tel +44 7885 112192 firstname.lastname@example.org 903, Kinwick Centre, 32 Hollywood Road, Central, Hong Kong Recruitment
Sera Laboratories International Jenny Murray Managing Director Tel +44 1444 250 010 email@example.com Unit 44, Bolney Grange Business Park, West Sussex, RH17 5PB, United Kingdom Chemical / Petroleum
EN World Rob England President Tel 3972 6581 firstname.lastname@example.org Room 2718, Level 27, World Wide House, Central, Hong Kong Executive Search Helping Hand Group Memorabilia Isabelle Hollander Event & Account Manager Tel 2389 3965 isabelle.hollander@helpinghandgroup. com Unit 2208, 22/F., Futura Plaza, 111 How Ming Street, Kwun Tong, Hong Kong Auction Services
STARTUP Bright Green Solutions Zoe Bullock Proprietor & Manager Tel 9469 5759 email@example.com 3A, 1/F, Tai Hang Hau, Clearwater Bay, New Territories, Hong Kong Environmental Services
KPMG Christopher McAdam Business Development Executive, Financial Services Tel 2913 2569 firstname.lastname@example.org 8/F, Prince’s Building, 10 Chater Road, Central, Hong Kong Accounting JPA Asia Paciﬁc Ltd Richard Hanwell Country Manager Tel 9333 7558 email@example.com 903, Kinwick Centre, 32 Hollywood Road, Central, Hong Kong Recruitment Standard Chartered Bank (Hong Kong) Limited Flora Hung International Graduate Tel 6935 3515 ﬂora.firstname.lastname@example.org 23/F, Standard Chartered Bank Building, 4-4A Des Voeux Road, Central, Hong Kong Banking
The Fry Group Sheila Dickinson Senior Wealth Manager Tel 2526 9488 email@example.com Room 2005, Tower One, Lippo Centre, 89 Queensway, Admiralty, Hong Kong Financial Services Goldman Sachs (Asia) LLC Matthew Westerman Global Head of Equity Capital Markets Tel +44 20 7552 3549 firstname.lastname@example.org 68/F, Cheung Kong Centre, 2 Queen’s Road, Central, Hong Kong Investment Banking Nord Anglia Education Andrew Fitzmaurice CEO Tel 3977 0775 andrew.ﬁtzmaurice@nordanglia.com Floor 27, 19 Des Voeux Road, Central, Hong Kong Education
New British Chamber Members for July
RIS Limited Gary Kinsley Managing Director Tel 9169 0898 email@example.com 15/F, 80 Gloucester Road, Wanchai, Hong Kong Consultancy
Howse Williams Bowers Kevin Bowers Partner Tel 2803 3688 firstname.lastname@example.org Room 2905, Two Exchange Square, Central, Hong Kong Legal
KPMG Samuel Wan Assistant Manager, Restructuring Services Tel 2140 2306 email@example.com 8/F, Prince’s Building, 10 Chater Road, Central, Hong Kong Accounting
Crowne Plaza Hong Kong Kowloon East Thomas Ng Director of Sales & Marketing Tel 3983 0388 firstname.lastname@example.org 3 Tong Tak Street, Tseung Kwan O, Hong Kong Hospitality The British Schools Group Darren Brown Director Tel +60122332261 Darren@britishschools.co.uk The British International School No. 1, Changkat Bukit Utama, Bandar Utama, 47800 Petaling Jaya, Selangor Education
Ian Thomas Tel 2116 9713 email@example.com Room 2203, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong
OVERSEAS Fresheye Marketing Ltd Dorothy Combes Managing Director Tel +44 7860 310801 firstname.lastname@example.org Electric Works, Shefﬁeld Digital Campus, Shefﬁeld, S1 2BJ, United Kingdom PR & Marketing
Pump Court International Christopher Moger Arbitration Advocate & Arbitrator Tel 2140 6878 email@example.com 801-2, 1 Hollywood Road, Central, Hong Kong Legal
KPMG Jasmine Lai Assistant Manager, Restructuring Services Tel 2140 2306 firstname.lastname@example.org 8/F, Prince’s Building, 10 Chater Road, Central, Hong Kong Accounting
Tree Islands Singapore Pte Ltd Hirotsugu Kijima Managing Director Tel +65 9772 1056 email@example.com 2 Marina Boulevard, 38-02 The Sail, Marina Bay, 018987, Singapore Consultancy
Shaken Not Stirred Sponsored By
31st May 2012, Dickens Bar, The Excelsior, Causeway Bay
Nick Moynihan (Brand HK), Viki Kish (International Study Programs)
Mark Hendley (Easy Crate), Chris White
Robert Glover OBE (Care For Children), Ralph Duke (HSBC)
Timothy Wong (Scotwork Negotiating Skills), Lee Wainwright (BT)
Freddie Hills (Grosvenor International Holdings), Mark Basford (Synco Marketing Ltd)
Michael Lucas (Fidera Ltd.), Liz Hamerton (Secretarial Office Services)
Jack Guest (HSBC), Christopher Liddard (HSBC), Chan Nguyen (Mace), Patrick Lam (A&Q Partnership)
Ivy Ho (Jones Lang LaSalle), Joseph Chow (BT), William Chan (Scotwork Negotiating Skills)
Carol’Ann Tappaz Halsey (Divalia Channel), Alex Sheldon (Jones Lang LaSalle)
Fiona Gallagher, Ceri Silk (Glow with Ceri Silk Skeyndor Institute)
Andrea Demy, (AGS Four Winds) Danny Harrington (International Tuition Services Ltd)
Elise van Stolk (Santa Fe Relocations), Denis Brock (King & Wood Mallesons)
Britain in Hong Kong
Shaken Not Stirred Sponsored By
28th June 2012, The Hive, The Phoenix Building, Wan Chai
Paul Fisher (DTZ), James Murray (Colliers International)
Jesper Bruun-Olsen, Malcolm Pratt (Uni Group Worldwide – Hong Kong Limited)
Karen Chen (Meridian Partners), Amy Overy (Collective Training Consultancy), Alice McKay (Collective Training Consultancy)
Rex Lam (ICD Security Solutions), Cammie Leung (Tanner de Witt)
Gabriel Jor (Pure Professionals), Andrew Macpherson (EC Harris)
Anna Cheung (AME Gallery), Beyoña Pérez Suárez, Rob England (en world Hong Kong Ltd.)
Lucy Jenkins, Emily Ferrary, Dovenia Chow and Mandy Cheng (British Chamber of Commerce in Hong Kong), with Alison Asome (Hart Giles) at centre
Anne Acroken (Globaleye), Olya Kolesnik (M. Moser Associates), Ava Chung (DataSource International Ltd.)
Louise Hilder (The Philippa Huckle Group), Vanessa Yu (China Telecom), Renee Cheng (China Telecom)
Alison Asome (Hart Giles), Lucy Jenkins (British Chamber of Commerce in Hong Kong)
Francis Haddon-Cave (Bernacchi Chambers), Paul Kidman (headstrong)
Edmund Cheung (China Telecom), Philip Kong (China Telecom), Patrick Leung (China Telecom)
Alastair Drew (Vision Brands Limited), Vicky Wong (J W Marriott Hong Kong), Devyani Patel, Ross Pun (Aon Risk Solutions)
Published on Aug 11, 2012
Britain in Hong Kong is the highly regarded monthly magazine of the British Chamber of Commerce in Hong Kong. The magazine is sent out to al...