A Publication of The Canadian Chamber of Commerce in Hong Kong
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Volume18 April 2017
CONTENTS 04 Chairman’s Message 06 News & Announcements Platinum Sponsors
Committee Updates 07 Review of China Business Committee 2016-17 07 Update from Financial Services Committee 08 Property Committee : Vancouver’s Foreign Buyers Tax – A Surprise? 10 Young Professionals Committee: Updates and New Initiatives for 2017
Advocacy 10 Policy Paper : Support the Hong Kong Government’s Ivory Trade Ban
Integration with China 11 Canadian Community Delegation to China: Visit to Qianhai & Shenzhen
Focus on Members 12 Manulife Motivates Customers to MOVE with Apple Watch 14 Walton – Identifying the Right Land in the Path of Growth 18 Equiom: Hong Kong – International Automatic Exchange of Information comes into effect 19 Koehler: The China-ASEAN Free Trade Agreement 21 SkyPoint: Why the Smart Money is going into Multifamily Real Estate in Toronto
22 Sharing an Internship Experience Abroad Community 24 Terry Fox Run: Save the Date for the Next Terry Fox Run! 4 November 2017
Professional Development 25 Black Isle Group: People Reading a Speech Verbatim Look Awful!
Leisure 26 Club Med Sanya, Hainan Island
27 Event Highlights 30 Welcome New Members 3
Chairman’s Message “We are thankful for the support of our members and the Canadian community, and we look forward to another successful Annual Ball.” 2017 is a big year for not only the Chamber, but Canada and Hong Kong
individually as well. Not only is it the Chamber’s 40 anniversary, but it is also Canada’s 150th birthday and the 20th anniversary of Hong Kong’s handover. These events are a means for celebration, honouring the past and looking forward to the future.
as the Photo booth Sponsor, Bank of Montreal as the Centrepiece Sponsor and the British Columbia Trade Office (International Trade and Investment) as the Beverage Sponsor. We are thankful for the support of our members and the Canadian community, and we look forward to another successful Annual Ball.
The Chamber is a unique bridge between Canada and Hong Kong, two
Our dedicated committees have been busy these past few months,
seemingly completely different places, but there is a definite connection here. Culture, language and climate may be different, but we share a British colonial history, along with the same birthday of July 1st. There are strong immigration ties between Hong Kong and Canada, allowing economic and social ties to further grow and prosper. The Chamber is proud to have been part of this connection from Hong Kong to Canada for the past 40 years, and will hopefully continue for another 40 to come.
While always a yearly highlight, this year’s Annual Ball will be particularly
special to celebrate the Chambers past 40 years. The Annual Ball: The Ruby Express will be held on Saturday, May 20th. The Ball Committee, led by Saniza Othman, Arbitrator and Mediator, and Michael Yong-Haron, a Senior Executive at the Royal Bank of Canada Wealth Management, together with the Chamber Secretariat, have been working tremendously hard to make ensure the 40th anniversary gives all attendees a true Canadian experience. We are honoured to have Manulife as the Title Sponsor, Sun Life Financial
organizing memorable events for our members and the community to enjoy. A few highlights include “The Dust has Settled”, by our Property Committee, “Awaken the Rooster in You: Prepping For Your Dream Job” by the Young Professional Committee, the Social Entrepreneurship Series by the Entrepreneurial and Small Business Committee, and finally the “Women in the Environment” event as part of the Women’s Network Successful Canadian Women Series. I would like to take this opportunity to acknowledge and thank the Secretariat and all those who contribute to the success of these events, giving our community the opportunity to learn, grow and network.
Lawrence Nutting Chairman The Canadian Chamber of Commerce in Hong Kong
Volume 18, April 2017
Published by Editorial Board Madeleine Behan (Chair) Derrick Lee Carol Chan Patricia Lau Sarah Cheng
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4 EXCHANGE Vol.18
The Chamber Executive Committee
Vice-Chairman of Internal
Vice-Chairman of External
Raymond Chow Jeff Nankivell Allan Zeman Aron Harilela Andrew Turczyniak Bernard Pouliot Bruce Hicks Daisy Ho David Armitage David Kong David M. Nesbitt David McMaster Doreen Steidle Dr. Eliza C. H. Chan Dr. William Yip Elizabeth L. Thomson Hing Lam Kam Joe Ng John Cheh John W. Crawford John R. Witt Lawrence Ho Lincoln Leong Madeleine Behan Patrick Lam Richard Siemens Robert Cook Stephen Chu Victor Apps William W. H. Doo
Andy Poon Andy Mahtani Brendan Wong Don Roberts Joseph Law Karim Gilani Katherine Leung Michael Yong-Haron Richard Brown Todd Handcock Vanessa Poon Victor Yang Jodi Robinson
The Secretariat Head of Governors’ Council Honorary Head of Governors’ Council
Derrick Lee President email: firstname.lastname@example.org Carol Chan Operations & Finance Manager email: email@example.com Patricia Lau Administrative Assistant email: firstname.lastname@example.org Sarah Cheng Communications Manager email: email@example.com Janice Ip Events Manager email: firstname.lastname@example.org Queenie Chung Assistant Events Manager email: email@example.com Fany Chan Member Relations Manager email: firstname.lastname@example.org
BUYING LAND IN THE PATH OF GROWTH Walton is one of North America’s leading land based real estate investment and development groups, concentrating on the research, acquisition, administration, planning and development of strategically located land in major North American growth corridors. With over 35 years in real estate, Walton currently administers over
of land, and we are proud to have returned over
$1.9 BILLION * proceeds
to our clients and partners in business. For more information, please contact your financial advisor or Walton Client Services. Email: email@example.com | Hotline: +852.3185.1808 * Amount returned is unaudited Canadian dollars and consists of a. Aggregate value of active undivided interest projects b. Book value of land, capitalized construction costs for development structures and cash reserves held by limited partnership and limited liability company entities, and c. Book value of land held directly or indirectly by Walton International Group Inc. & Walton International Group (USA), Inc. Information as of September 30, 2016 Risk disclosures: Investing in land has risk. Land investment is illiquid and it may be impossible for you to sell your land within a short period, or at any time at all. Land could potentially lose value over time. Past performance is not necessarily indicative of future results. No representation is made that profits, income or other returns will arise, or will likely arise, from the acquisition, holding, disposal or any other dealing with the land, or that any profits, income or other returns will arise or will likely arise within any specific time. These risk disclosures do not purport to disclose all risks associated with land investments. Walton does not provide any investment, financial, accounting, legal and tax advice. You should carefully consider whether land investment is suitable for you in light of your financial circumstances, and consult professional investment and tax advisers if necessary. Walton and its representatives are not licensed to deal with real property located in Hong Kong, Japan, The People’s Republic of China, UAE, Taiwan, Thailand, Malaysia or Singapore. © 2016 Walton International Group Limited
News & Announcements Chamber Governor John Crawford appointed as INED of Melco Crown Entertainment – January 2017 Melco Crown Entertainment Ltd. (MCE) announced the appointment of John Crawford as an independent non-executive director of the company and he will also become a member of the audit and risk committee, compensation committee and the nominating and corporate governance committee of MCE, according to a statement from the casino operator.
Sun Life Hong Kong (“SLHK”) Appointed New CEO – February 2017 Fabien Jeudy was appointed as new Chief Executive Officer and Mr. Jeudy would be responsible for overseeing and growing SLHK’s operations which include life & health insurance, wealth management and an award winning pensions business.
Manulife Appoints Roy Gori as President – March 2017 Roy Gori, currently Senior Executive Vice President and General Manager of Manulife’s Asia Division, has been appointed the company’s President, effective June 5. Mr. Gori will have responsibility for Manulife’s global operating businesses, reporting to Chief Executive Officer Donald Guloien. Mr. Gori will assume leadership of Manulife’s Canadian, U.S. and Investment operations, in addition to Asia. He will also be responsible for developing and executing Manulife’s business strategy.
6 EXCHANGE Vol.18
Equiom Expands into Japan – March 2017 International professional services provider Equiom has announced the acquisition of Solid Japan, a Tokyo-based corporate services business with an international client base. Solid Japan was established in 2008 and offers a comprehensive suite of services to support inbound investment into Japan. The acquisition further complements Equiom’s existing Asia presence in Singapore and Hong Kong. Equiom’s Global CEO, Sheila Dean, commented that this acquisition allows it to expand into a new jurisdiction with excellent growth opportunities. Equiom has always viewed Asia as a key market in terms of the company’s growth ambitions.
Members Winning Awards – April 2017 GoAnimate Limited has won the 2017 Hong Kong International Communications & Technology (ICT) Award for Best Business Solution Grand Prize and the Best Business Award (Products and Services Stream) Gold Prize. ICT Awards are given annually by the Hong Kong government, industry and academia to recognise Hong Kong’s most innovative ventures and promising solutions.
Review of China Business Committee 2016 – 17
The aim of the China Business Committee is to help our members to connect with China – even if it looks like a simple task, it is more than ever a wide topic and a challenging mission. The unique positioning of Hong Kong made us the perfect getaway to access the Chinese market. Such a vast, complicated and fast changing country requires some effort to understand it. Our committee is wellpositioned to bridge the gap. By organizing different events about the hottest topics in China, we assist our members to grasp a better understanding of new business opportunities in this promising country. Thanks to the strong support of the Executive Committee and our extremely supportive partner KPMG, our Committee has been proud to host very successful China Series Events during the past year. Indeed our 3 lunch seminars during 2016/17 included different themes: – Private Equity Investment in China – How innovation Will Drive China and the World Economy Forward – Chinese Outbound Investment – Opportunities Canada can Offer Thank you for all participants who have supported and given a great contribution to our events. We also hope that all attendees have taken the best part of it and we are looking forward to see you at our next events. Our committee is co-chaired by Mr. Philip Yu of Fung, Yu & Co CPA, together our Executive Committee member Mr. Victor Yang, with strong support from our Vice-Chair Miss Farida Lau. Last but not least, our Committee is more than happy to welcome the joining of new members, especially the ones who have an extensive experience in China and are interested in getting involved in our different thrilling projects. Please feel free to contact Philip at firstname.lastname@example.org to get more information. We will make of the coming year 2017-18 a great and an exciting one, full of promising events and people. The Committee is looking forward to meet you, help you getting a better insight and grow your network. Philip Yu Victor Yang Co-Chairs The China Business Committee (2016-17)
Update from Financial Services Committee
he Financial Services Committee (“FSC”) had another very active year in 2016 and we are looking ahead to what should be an interesting 2017.
In 2016, the FSC organized 6 events, and finished the year strongly with Taxation of Canadian Real Estate on November 3rd and How a Global Institutional Investor Invests with CPPIB on December 6th. Other events included The P2P Model: The Impacts of FinTech Disruptors (March), Big Data in Financial Services (April), Blockchain and its Impact on the Financial Services Industry (July) and Demystifying LegCo and Everything you Need to Know about the Upcoming Chief Executive Elections (September). The first event for 2017 took place on February 16th, a panel lunch titled Insights and Investments in China’s Entertainment Industry and there was a very strong turnout given the eclectic of panelists: Byron Mann (Hollywood actor), Peter Tsi (Film producer / writer / director), Yaron Jacobs (LKF Media Limited; private corporate), Francis Ng (SMI Holdings Group Limited; listed corporate) and Alick Dong (private equity investment group). Thereafter, on May 9th, the FSC hosted another lunch, on Challenges of Investing in China. This event featured a distinguished panel of speakers (Amie Chang from Nardello & Co., CF Lui from Stepenson Harwood, Nina Tao from Sinovision Development, Minchu Wang from The Blackstone Group) who
discussed the difficulties investors would encounter when investing in China and Asia. The FSC is fortunate to have about 15 standing members, and was further strengthened by new joiners in the past six months. Importantly, some of these standing members are from the Chamber’s key Platinum and Gold corporate sponsors, further strengthening ties within our community. We hope that their networks will provide further impetus to attract new members and we welcome their fresh ideas and energy. The first FSC subcommittee meeting of 2017 was on January 12th in the (still new for many) offices in Wan Chai, and drew good attendance, including a visit from Derrick Lee, the Chamber’s President. We would like to give special thanks to the Chamber’s administrative team for their continued support for our initiatives, without whom we would be severely handicapped. Last, but not least, a heartfelt mention must go to the outgoing FSC Co-Chairman, Henri Arslanian. Henri has dedicated 5 years to this role and has provided valuable leadership and advice to ourselves since we took on the role in early 2016. Chris Marschall Co-Chairman CIMB Securities (Hong Kong) Ltd
Iggy Chong Co-Chairman RBC Wealth Management 7
Vancouver’s Foreign Buyers Tax ? e s i r p r u S A – By Keelan Chapman, Canadian Real Estate Investment Centre On behalf of the Property Committee It was not necessary. For many local Vancouverites, it was a necessary measure long overdue. For some, it was unwarranted and brash as the tax didn’t “grandfather” existing deals (i.e. contracts signed set to be closed after the tax became effective). Thus, thousands of unfortunate buyers had to finance additional 15% to close their purchases. Regardless how you see it, the tax is here to stay and who knows if any other policies will be put in place to cool down Vancouver’s hot real estate market. So what is the tax? The tax is 15% of the property value payable by “foreign” buyers, such as foreign citizens, foreign companies and taxable trustees, in addition to the province’s regular property transfer tax. It is only applicable in the Greater Vancouver Regional District and nowhere else in BC or Canada. It is targeted to foreign buyers purchasing of residential property on or after August 2nd 2016. Despite trying to tackle the unaffordability issue, there remains a significant amount of confusion regarding who is “foreign” in this context. In reality, most of the Mainland Chinese players are not “foreigners” as defined in the legislation for they are already immigrants or Canadian citizens. It is estimated there are at least 50,000 wealthy Mainland Chinese families, roughly 200,000 people, who are either immigrants or citizens of Canada. Consequently, they are not impacted by the tax. Additionally, there are approximately 3 million Canadian citizens living outside Canada, 300,000 in Hong Kong alone, who are not tax residents. They too are not subject to the tax. So who is subject to paying the foreign buyers tax? Nearly 350,000 international students living and 8 EXCHANGE Vol.18
studying in Canada (120,000 of them from Mainland China) together with 10’s of thousands of foreign nationals residing in and tax residents of Canada are considered “foreign” and are subject to the tax. It will not have a tremendous long-term impact on the Vancouver market as there will still remain influxes of “foreign” money from China arriving in the pockets of non-“foreign” Chinese citizens and immigrants. However, there have been, and will continue to be, significant reactions since the tax’s implementation. Overall, prices have decreased in Q1 2017 since Q3 2016 when the tax was implemented. Since the execution of the tax, the single detached home market benchmark price has decreased by 9%, however, the condominium market benchmark price has increased by 2%. It is clear the single detached housing market was the most impacted by the new regulation and coincidently the condominium/ apartment market became a more affordable option and grew. More time is required to fully understand the full impact of the tax, as it is relatively new. Prices in Vancouver are starting to rebound as the single detached benchmark prices grew 23% and condos 20% from Q4 2016. However, they are not as high as we experienced in Q1 of 2016 and it is unclear what will happen in the coming year. The worry now moves to Toronto, which has become Canada’s hottest market since the implementation of the tax. People are worried provincial and local governments will try to cool Toronto’s market through similar policies applied in BC. However, this may be premature as prices in Toronto have not reached the peaks experienced in Vancouver. Nonetheless, one thing is for sure. There will be a lot of speculation.
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Young Professionals Committee:
Updates and New Initiatives for 2017 By Young Professional Committee Working Group The Young Professionals (“YP”) Committee is dedicated to the development of young talents in Hong Kong through programs and events that will (1) advance the professional interests and developments of our young professionals, (2) help young professionals take on a greater role in Hong Kong’s business community, and (3) integrate the Chamber’s commitment to conducting business with integrity and our shared Canadian values. The YP Committee wrapped up 2016 and entered 2017 successfully, with the support of our three Co-Chairs and planning committee members. Highlights from 2016 include professional development events such as the 5th season of the Chamber’s Mentorship Program, How to Become a High Performing Leader by Peter Lysell, Dress to Impress with Andy Mahtani, a panel discussion on “Prepping for Your Next Dream Job” and fun social events like the Ugly Christmas Sweater Party and annual junk trip. The Committee also gathered to volunteer in various roles at the CANOPOLY Annual Ball and raised funds for the Ronald McDonald House. In late 2016, the YP Committee announced exciting new initiatives. November ushered in the launch of the inaugural Young Professionals Newsletter, a one-stop-shop of resources for YPs – highlighting a “Member of the Month”, helpful links for professional development and awesome events around town. The YPC Papers, a series of research papers written by the Committee to serve as a learning resource and knowledge exchange, will be launched in mid-2017.
Policy Paper Submission from the Chamber With the coordination from the Sustainable Development Committee, the Chamber has submitted a support letter to the Panel on Environmental Affairs of the Legislative Council for the Hong Kong Government’s proposed legislation to ban the Hong Kong ivory trade and increase maximum penalties for wildlife crime in mid-March. In the letter, the Chamber disagreed with the views that a 5-year period is not sufficiently long for ivory traders to sell off their remaining stock as ivory traders have had effectively 28 years to sell their pre –convention ivory stocks since 1989. Research also indicates that Hong Kong’s licensed ivory stocks reported are not diminishing as would be expected given the demand and sales for these products. According to certain media reports, traders have admitted that illegal ivory (freshly poached) is used to top up local ivory stocks. Therefore, the Chamber considered that the proposed legislation should set a clear deadline and a means to enforce the deadline with meaningful penalties. 10 EXCHANGE Vol.18
Integration with China
Canadian Community Delegation to China: Visit to Qianhai & Shenzhen The Canadian Chamber of Commerce in Hong Kong, in cooperation with the Qianhai Authority, Invest Shenzhen and Canadian Trade Office Shenzhen, was honoured to lead the Canadian community’s delegation visit to mainland China on April 21, 2017. The delegation visit, led by our President, Mr. Derrick Lee, and China Business Committee Co-Chairs, Mr. Philip Yu, and Ms. Farida Lau, was welcomed and well received by Senior Officials from the Qianhai Authority, the Policy Analysis Manager, Mr. Kai-yip Chan, Invest Shenzhen’s Head of Financial Industry Department, Mr. Hugo Lin, and Canadian Trade Office Shenzhen’s Manager and Trade Commissioner, Ms. Lesley Li, to share their insights on the trade and investment environment for Hong Kong and foreign firms that wish to conduct business in Shenzhen and Qianhai. The delegation had candid discussions with government officials and other interlocutors on the overall business environment and development of Shenzhen, which had helped delegation members and their companies determine whether to set up or expand their business or implement investment plans in Shenzhen’s key markets. The tour and debrief of the Qianhai project has been an eye opener to see the vast and fast development of this project within the short time-frame since inception. A lot of interest has been stimulated since the delegation visit, and a few of the delegates will be having follow-up discussions on how to setup and operate in Shenzhen and/or Qianhai.
Background of Shenzhen Shenzhen is China’s first Special Economic Zones, and with a population of about 12 million, it has a GPD of US$284 billion in 2016. Shenzhen becomes one of the largest cities in the Pearl River Delta region, which itself is an economic hub of China, as well as the largest manufacturing base in the world. Its key sectors and industries include ICT, start-ups, entrepreneurs, finance, logistics, trading, professional services and high-tech manufacturing. Successful well-known companies headquartered in Shenzhen include Tencent, Ping An, BYD, ZTE, Huawei, China Merchants Bank, HAX Accelerator and the Shenzhen Stock Exchange.
Background of Qianhai Setup in 2010, Qianhai is a Shenzhen-Hong Kong Modern Service Industry Cooperation Zone – a cooperation zone focuses on finance, modern logistics, information services, technology services, and other professional services. The coordinated efforts of the governments of Guangdong province and the Hong Kong SAR allow HK and foreign companies easier access with simplified administrative procedures to setup operations in this modern industry zone. Total registered capital in Qianhai is RMB 1,740 billion, with 15,644 financial enterprises, 4,040 modern logistic firms, 3,313 information service industry firms, 5,188 enterprises from scientific & technological services, and 53 out of Fortune Global 500 firms present.
Thank You: Partners:
Focus on Members
Manulife Motivates Customers to MOVE with Apple Watch New ManulifeMOVE Members in Hong Kong and Macau can own Apple Watch through the enhanced program and start their health and fitness experience
Manulife has enriched the ManulifeMOVE (“MOVE”) experience for customers in Hong Kong and Macau through the engaging personal interface and powerful health and fitness capabilities of Apple Watch, becoming the first insurer to launch an Apple Watch app in these markets. Customers also have the opportunity to own an Apple Watch through the enhanced healthy living program1 and cover the cost through earning rewards and discounts by regularly closing all three Apple Watch Activity Rings.
Roy Gori, President and Chief Executive Officer, Manulife Asia said: “The ManulifeMOVE program was born out of a desire to provide a simple, innovative insurance concept that motivated customers and rewarded them for living active lifestyles. We’re pleased to be able to take MOVE to the next level and create an even better customer experience through its seamless integration with the world’s most popular smartwatch Apple Watch.” “The Activity App on Apple Watch was designed to help customers live a healthier day,” said Jeff Williams, Apple’s Chief Operating Officer. “We’re confident the integration of Activity Rings into the ManulifeMOVE program will help motivate members to achieve their health and fitness goals.”
12 EXCHANGE Vol.18
Focus on Members
MOVE app opens to public As a leading advocate for greater health and wellness, Manulife has also opened the MOVE mobile app up to the public as part of the award-winning program’s exciting expansion, allowing everybody to enjoy the intuitive platform first-hand, making tracking one’s progress even easier and fun. The forward-thinking approach to insurance is inspired by the feedback from customers. “Our customers told us that living healthily should entitle them to pay less for insurance, so that’s exactly what we’re offering. And it couldn’t be easier; all you have to do is move and stay active.” said Roy Gori. Hong Kong is the first market where ManulifeMOVE is launched in view of that local consumers are very digital-savvy. Guy Mills, Chief Executive Officer, Manulife Hong Kong said: “ManulifeMOVE furthers our mission as a health and wellness advocate in Hong Kong and Macau and helps strengthen our relationships with customers here for the long term. MOVE members have recorded enough steps to make 30 round trips to the moon from Earth and two thirds have enjoyed premium discounts already. Opening the upgraded MOVE app to the public
will extend our social engagement, providing us multiple ways to interact with our increasingly health-conscious community and helping more people achieve their wellness goals.” Anyone using the MOVE app can enjoy a range of exciting features, including: • tracking their progress against set activity goals; • earning digital badges by completing activity challenges and achieving milestones; • receiving motivating reminders and messages; and • following and competing with Facebook friends who use MOVE, via the new Leaderboard function.2
About MOVE ManulifeMOVE was introduced in 2015, rewarding customers with premium discounts on eligible critical illness or medical insurance plans for being more active by syncing their activity data with the MOVE app and achieving set goals. A MOVE member needs to average only 5,000 steps a day to receive a 5 per cent premium discount for the next year of an eligible policy. Averaging 7,000 steps per day earns a 7 per cent saving, and a 10 per cent premium discount is rewarded to MOVE members who average a minimum of 10,000 steps per day. For more information about the ManulifeMOVE program, please visit www.ManulifeMOVE.hk.
1 The privileged price of HK$1,500 for an Apple Watch is applicable to Apple Watch Series 1 (38mm Aluminium Case). Members will be able to upgrade to Apple Watch Series 1 (42mm Aluminium Case) or Apple Watch Series 2 by paying the difference. 2 For iOS users only. 13
Focus on Members
WALTON â€“ IDENTIFYING THE RIGHT LAND IN THE PATH OF GROWTH
espite the instability and volatility permeating the global economy, cross-border direct real estate investments in major cities around the world is increasing, driven by emerging sources of capital looking to establish geographically diversified portfolios. The U.S. has always been a prime target for global real estate investors, with close to US$75 billion injected into the U.S. from different countries like Canada, China, Singapore in the last four quarters through June 30, 2016. With considerable amounts of capital entering the country and the U.S. economy on an upward trajectory, investors are viewing the U.S. real estate space as a viable and attractive proposition, with its strong economic fundamentals, reliable legal system and other structural advantages.
14 EXCHANGE Vol.18
Invest With the Expert When it comes to real assets, The Walton Group of Companies, one of the leading land-based real estate investment and development groups in North America, has been continually expanding its footprints in North America and Asia despite the credit crisis and global economic weakness in recent times. With over 35 years of experience in the research, acquisition, administration, planning and development of strategically located land in major North American growth corridors,Walton has over 103,000 acres of land under administration. Walton currently administers over USD4.2 billion assets including over 103,000 acres of land and provides medium- to long-term land based investment opportunities to qualified investors.
Focus on Members The thoroughness of research is one of the significant variables affecting the success of a pre-development land opportunity. Walton spends a minimum of two years on the extensive due diligence of each locations and properties.
The Path of Growth Strategy A top-down research methodology that begins with the macroeconomics of a Metropolitan Statistical Area then the growth patterns of a target market area should be employed to evaluate a land’s potential. Conducting property due diligence helps to identify the right land before acquiring the land, where land absorption is projected to take place and value of land is protected. Due diligence can be categorized into three sectors namely: Market and Housing Assessment, Land Information, and Zoning and Entitlements. Thorough reports and property assessments combined with local developers’ and home builders’ perspectives are collected to ensure all potential risks to future development are mitigated. These procedures are lengthy, complex and require the aid of experts for tracts and entitlement processes to be completed. I. Market and Housing Assessment It is essential to study an area’s economic and demographic factors influencing the housing market in order to project a land’s potential value. This not only allows investors to study where land is in demand, but also to predict its monetary value and possible developmental layout. Comparing neighboring housing developments with market and migration studies, suggests that many properties are worthy to invest in. Market and housing assessment provides the basic foundation, but is insufficient to deliver a full picture to reflect what investors could do with the subjected property’s physical and
environmental characteristics. Such extended research must be conducted prior to one’s decision to invest. II. Land Information Collection Background information about a property is important to understand its potential. This information can be obtained from various sources such as government notices, permits, licenses and restraints on land use. The land status may be retrieved through title association and insurance companies to assess whether a property holds a defective title. Encumbrances should be researched and listed out to avoid hidden costs, and the physical status of the property should be examined to identify all possible developable options and restrictions. These three areas of intelligence on the land are all for the purpose to avoid investors’ unnecessary financial loss through inaccurate asset selection. III. Zoning & Entitlement Review Not only is extensive research important but also, the capability to be connected with local experts. Understanding of the local land use policies and regional growth plan is important in obtaining land zoning approval. Land policy reflects the decisions and actions of policy makers with regard to the use of land. Changes of land use policy may potentially affect the land planning and the future value of the land. The current status of the property, including existing zoning and potential density levels should be reviewed by experienced professionals in order to implement further land planning. To learn more about Walton and the Path of Growth strategy, please visit Waltoninternational.com
Focus on Members
Hong Kong – International Automatic Exchange of Information Comes Into Effect By Kenneth Yim, Equiom Hong Kong
(a) What is the issue? Since 1 January 2017, Hong Kong has applied the Common Reporting Standard (CRS). In short, CRS is an international reporting regime initiated by the Organisation for Economic Co-operation and Development (OECD) that aims to help tax authorities tackle tax evasion, which happens when people do not declare their income or gains arising from assets/ investments held overseas. CRS is the OECD’s equivalent regulation of the US Foreign Account Tax Compliance Act (FATCA). Under the CRS framework, reporting financial institutions (FI) in Hong Kong are required to identify and report the relevant information on financial accounts held by tax residents of overseas reportable jurisdictions to the Inland Revenue Department (IRD) on an annual basis. To date, more than 100 countries have either adopted, or have announced that they will adopt, CRS in respect of which information will be exchanged on a formal bilateral basis. As such, most banks, custodial institutions, specified insurance companies and trustees globally are in the process of complying with CRS. Reportable jurisdictions The reportable jurisdictions will be the countries with which Hong Kong has entered into (1) a comprehensive double tax agreement (DTA) or a tax information exchange agreement (TIEA), and (2) a competent authority agreement for Automatic Exchange of information (AEOI).1 Appendix 1 sets forth the reportable jurisdictions that have already signed either a DTA or a TIEA with Hong Kong to date. Notwithstanding this, meanwhile, the government is proposing legislative amendments to the Inland Revenue Ordinance with a view to accelerating the expansion of the current list of “reportable jurisdictions”. If this proposal is approved, at least 72 jurisdictions with which Hong Kong has not signed a DTA or TIEA would also be included.
(b) Information of tax residents to be furnished and exchanged under AEOI return CRS is based upon tax residence, as opposed to nationality. The information to be furnished by reporting FIs in respect of a reportable account will generally include name, address, jurisdiction of residence, tax identification number and the date and place of birth (for individuals) of the account-holder; the account balance or value as at the end of the relevant information period; and the type of income (e.g., interest, dividends etc.) paid to the account during the relevant information period.
(c) Next steps FIs are expected to register with the IRD by September 2017, and to file the first AEOI returns with the IRD by May 2018. The first exchange of information with Hong Kong’s treaty partners is expected to occur by the end of 2018. 18 EXCHANGE Vol.18
Appendix 1 Reportable jurisdictions which have signed comprehensive double tax agreements (CDTAs) with Hong Kong Belgium South Africa Malta Jersey Czech Republic Thailand New Zealand
Italy Brunei Spain Mexico Korea France UAE
Hungary Vietnam Romania Mainland China Pakistan
Liechtenstein Indonesia Belarus Russia
Malaysia Japan Canada Switzerland Netherlands Kuwait Guernsey United Kingdom Qatar Luxembourg Ireland Latvia
Reportable jurisdictions which have signed tax information exchange agreements (TIEAs) with Hong Kong Denmark Faroe Islands Greenland
Norway Sweden United States of America
Equiom is a well-established, international professional services provider offering a range of innovative and effective business partnering solutions. We support corporations and high-net-worth individuals around the world with their fiduciary and related support-service needs. We offer a comprehensive range of high quality services including: corporate management, trusts and foundations, yachting and aviation services, tax solutions, eBusiness services, and property structuring.
1. This agreement provides for the modalities of exchange to ensure the appropriate flow of information in accordance with the CRS standard.
Focus on Members
The China-ASEAN Free Trade Agreement By Kristina Koehler-Coluccia, Koehler Group The China-ASEAN Free Trade Agreement (CAFTA) is a comprehensive economic cooperation agreement between China and the ten member countries of the Association of Southeast Asian Nations (ASEAN). Under the initial framework agreement that took effect in 2010, trade between China and six ASEAN nations – Brunei, Indonesia, Malaysia, The Philippines, Thailand and Singapore – became duty-free for more than 7000 products. In 2015, four additional ASEAN countries – Vietnam, Laos, Cambodia and Myanmar – joined the zero-tariff arrangement, and duties on other “highly sensitive” commodities were cut to no more than 50%. The revised CAFTA is expected to raise bilateral trade to USD 1 billion by 2020.
How is China impacted by CAFTA? CAFTA was first proposed in 2000 by China’s Prime Minister Zhu Rongji. In addition to fostering regional trade liberalization, China wanted to make its underdeveloped western region a more attractive international trade hub. The central government’s support for CAFTA was strongly driven by the provincial government leaders in the southwest, mainly Guangxi, Yunnan, Chongqing and Sichuan. Compared to the coastal cities in eastern China, the internal logistics cost is much higher for the inner western regions. The goods produced in the inner southwest lost their price competitiveness when Japan and the U.S. became trading partners. Against this backdrop, the only alternative was close cooperation with the neighboring ASEAN countries. CAFTA offered a solution to the struggles that many China-based businesses reported in the face of rising wages and land prices. The FTA allows companies to reposition manufacturing to other low cost areas of Asia, yet still retain their ability to service the China market via the duty-free imports permitted under the agreement.
How is Hong Kong impacted by CAFTA? Hong Kong is not a CAFTA signatory. However, the Third Party Invoicing rule has proved to be of great benefit to many trading companies in Hong Kong. The third party invoicing rule permits a company based outside of a CAFTA signatory nation to issue
invoices for trade activities between China and ASEAN. For businesses with regional headquarters in Hong Kong or for offices of multinational corporations based in Hong Kong, the rule allows them to issue invoices for offshore trade activities involving China and ASEAN – while enjoying CAFTA’s preferential tariffs rates. Furthermore, CAFTA impacts Hong Kong’s ongoing merchandise trade. On one hand, CAFTA allows for products made in China to be transshipped through Hong Kong to ASEAN, or vice versa while maintaining access to CAFTA’s preferential import duty treatment. On the other hand, this access does not apply to Chinese products which are re-exported through Hong Kong to ASEAN or the other way around. Therefore, concerns have arisen among many Hong Kong business people that the exclusion of Hong Kong from CAFTA could have an adverse impact on Hong Kong as a re-export hub for China-ASEAN trade.However, given Hong Kong’s strategic position as a commercial and financial center within Asia, it plays a pivotal role as a trade facilitator between the Chinese mainland and ASEAN members. Furthermore, Hong Kong also serves as an important platform when it comes to channeling regional investments and facilitating FDI flows – a role that could become increasingly important after the adoption of the anticipated Hong Kong – ASEAN free trade agreement. Koehler Group, a CSC® company, is an international accounting and management consulting firm established in 1979 to help organizations interested in entering and expanding their business throughout Hong Kong, Singapore, and China.This article is an excerpt from the November 2016 edition of ChinaInvest.biz Magazine, the editorial division of Koehler Group. For additional information about Koehler Group services and to read the full-text article, please visit www.koehlerservices.com. 19
Focus on Members
Why the Smart Money is going into Multifamily Real Estate in Toronto By Brett Cameron, SkyPoint Realty Partners As a global model for political stability and economic prosperity, Canada has become a premier market for real estate investors. Canada’s largest city, Toronto, is seeing tremendous population and job growth which has led to tremendous house price appreciation. The strong demand for housing coupled with a low Canadian dollar has caught the eye of smart money from around the globe looking to invest in the multifamily sector.
Supply and Demand Imbalance Toronto is currently facing an imbalance of supply and demand for suitable housing. There are no real factors that will help cool demand in the foreseeable future, while on the supply side, developers face restrictive land-use policies and lengthy approval processes that severely restrict new housing. As a result, housing is becoming less affordable for Canadians, particularly those living in the Greater Toronto Area. These affordability issues have led to the rise of renter households and caused the government to take a number of actions to cool the housing market.
New Housing Rules In October 2016, the Canadian Federal Government announced major changes aimed at curbing Canada’s red hot real
estate market. A stress test is now used for approving all new insured mortgages. The basic premise of the stress test is to determine if a potential home buyer could afford an interest rate increase in the future. These changes significantly impact potential homeowners as obtaining a mortgage now requires a significantly higher income and/or increased down payments. While these changes add another barrier to homeownership in Canada, Toronto’s multifamily properties will benefit as more potential homeowners are pushed into the rental market.
Millennials: Toronto’s Renter Generation Enter Millennials, also known as the renter generation. They are uninterested in owning housing or cars, and frankly, many simply cannot afford to. Rather than ownership, millennials favor renting in
amenity-rich neighbourhoods close to work. This phenomenon, together with record migration to the GTA and accelerating household formation, has helped to push rental vacancy rates in the GTA to an all time low. Amongst these demographic trends, investors are attracted to the stability and performance of multifamily assets.
Record Year for Foreign Investment in Canadian Commercial Real Estate 2016 was a banner year for foreign investment in Canadian commercial real estate, with over $5.6B invested across the country. According to CBRE, foreign investors accounted for 27% of all transactions over $10 million, exceeding the previous high of 9% in 2008. China and Hong Kong emerged as the largest investors accounting for 71% of foreign investment nationally. China-based Greenland Group has emerged as a top buyer of land in Toronto for multifamily development, with over a quarter of a billion dollars in land transactions since 2014. With global geopolitical uncertainty on the rise, foreign investors are flocking to Canada in record numbers.
Toronto: the place to be in Canada Toronto remains the place to be in Canadian real estate, and multifamily assets are being bought by institutional investors at record levels. Smart money is also teaming with developers throughout the GTA as a way to increase yields. Today, Toronto offers investors some of the strongest multifamily fundamentals in North America.
Angela Yu, University of Victoria (Events Management Trainee)
If you asked me two years ago whether I was planning to do an
Q1 international co-op, I would have answered no. 2016 has been a
year of experiences, and doing an international exchange in Bangkok, Thailand was a start of it. Once I got a taste of what it was like to live in a completely different culture, I was up for a second challenge of culture shock. Studying in Bangkok was a life-changing experience, and I wanted to take advantage of another international experience by working abroad. I’ve heard from many of my older peers that we should travel while we’re young before we get tied down to full-time jobs and family responsibilities. I miss Canada dearly, but working in a different culture is priceless. Working as an Events Management Trainee has been some of the most challenging work
Q3 environments I’ve worked in. Although some days are tough at the office, I wouldn’t take
any of it back. I am being pushed outside of my comfort zone constantly at the Chamber which allows me to grow and build on my professional skills. This position has also helped me learn more about myself. It showed me what my strengths and weaknesses are, thus leading me to focus more on my interests. Enrichment – Enriching my relationship with my family in Hong Kong, my
What is your favourite/most memorable Hong Kong culture you have experienced?
Q4 Chinese culture, my language proficiency in Cantonese, my travelling experience, my food experience, thoughts and perspective on the people in Hong Kong…. the list goes on. Enriching my thoughts on the world.
What sparked your interest in doing an international co-op rather than working as an intern in Canada?
g n i r a Sh an internship experience abroad
As a Political Science student, learning about different cultures and political systems is
Q1 something we qualitatively and quantitatively analyze for our research papers behind a
computer screen or through books. A sophisticated fusion between the East and the West, Hong Kong has always been on top of my list to visit. So when the opportunity arose to pack up my bags, get on a plane, be in the center of and work in the most exhilarating economic hubs in the world for four months, I couldn’t say no. On the plus side, I also get to escape the -30 degree celsius winter Ottawa is freezing over in currently. Chinese New Year in Hong Kong was a spectacular experience. I loved watching the city
Q2 transform in front of my eyes, as all the lights went up and I lost my friends in a crowd of what
Huriya Yawar, University of Ottawa (Events Management Trainee)
seemed like millions of people at Victoria Harbor. But even as I stood by myself, the fireworks and the collective ambience was one of the best experiences I’ve had in Hong Kong.
Keeping Hong Kong in mind, I’d use the word ‘limitless’. This entails the knowledge and skills
Q4 I’ve amassed at my workplace, the new sights I experience every day, the wonderful people I’ve met in my dorm or lost in the streets, and all the ways this city has forced me to challenge myself. My spontaneous move to Hong Kong is one decision I will truly never regret!
22 EXCHANGE Vol.18
Aside from catching an incurable case of the “travel bug”, I have always
Q1 been interested in travelling to Asia to experience new cultures and
Marin Davidson, University of Victoria (Membership Management Trainee)
places. As an International Business student, I was searching for employment opportunities outside of Canada for my third and final co-op job. Thankfully the University of Victoria (UVic) encourages students to participate in both academic exchange terms and international co-ops, providing various forms of support and resources. One of my classmates completed a summer co-op at the Chamber and she highly recommended working in Hong Kong. I was very happy to discover several Chamber internship positions posted and applied without delay. Working as a Membership Management Trainee with the Chamber has
Q3 been an exceptional experience. Professionally, I have developed useful
How has working as a Management Trainee for The Canadian Chamber of Commerce impacted your growth personally and professionally?
If you could summarize your international co-op experience in one word, what words would you choose and why?
skills and competencies that will benefit my future career goals. There have been numerous opportunities to practice cross-cultural communication, enhance business-related skill sets and expand professional networks. I have also grown personally, by attending Chamber events related to my interests in sustainability and climate change. Discovery. Although I have learned a great deal about different cultures
Q4 and customs in the classroom, I have realized that the best way to learn is through “real world” experience . I quickly discovered that I had a false preconception of Hong Kong – it’s not just a place of dense populations and tall buildings! It was a pleasant surprise to find out hiking and surfing are very accessible by public transit. Four months is definitely too short to fully discover Hong Kong, but it is a good start for trying new food, learning Cantonese and meeting wonderful people.
I grew up moving around a lot, so I guess the travel bug bit me early.
Q1 I’d never really been to Asia before, much less lived here, so it just
seemed like a great chance to go solo in totally unexplored territory. Being here for Chinese New Year was really cool, I went to the Wishing
Q2 Tree in Tai Po, and I threw a fake mandarin on to the tree, went to the market and a temple. It’s always interesting to see how people in different cultures celebrate holidays.
Empowering – To be able to move to the other side of the world all by
Q4 yourself is a pretty empowering feat. To thrive in a completely new work and life culture and still want to keep moving forward makes me feel pretty independent and fearless. It’s awesome to know that you can do anything you set your mind to.
Sarah Neubauer, University of British Columbia (Communications Management Trainee)
Want to know more about hiring students from Canada? Please contact Carol Chan at email@example.com
e for the t a D e h t e v a S x Run on Next Terry Fo
2017 4 November
The 4th annual Terry Fox Run Hong Kong (TFRHK) was successfully held on 5 November 2016. Over 1,500 participants of all ages and backgrounds gathered to support the dream of finding a cure for cancer. The Terry Fox Run is a charity event inspired by a young Canadian activist. Apart from many Canadian participating, this event is well supported by the Hong Kong community. The kick off ceremony was officiated by Professor Sophia Chan, Under Secretary for Food and Health; Jeff Nankivell, Consul General, Consulate General of Canada in Hong Kong and Macao; Stephen L. Chan, Associate Professor of Clinical Oncology Department of Chinese University of Hong Kong; Alison Yu Chui-yee, Paralympic gold medalist; Andrew Petter, President of Simon Fraser University; Belinda Greer, Chief Executive Officer of English Schools Foundation; Harry Brown, Principal of Renaissance College; Grace Chan, Miss Hong Kong 2013 and Simon Fraser University Alumni and Utah Lee, Nike Master Trainer, Speaking at the Run, Macy Lau, Co-chair of the TFRHK Committee, said, “The Terry Fox Run is one of the key charity events for Canadians around the world. I am so proud to see this volunteer-organised event is raising awareness about cancer research in Hong Kong. With the support of the local community, I hope the Terry Fox Run can bring positive energy to Hong Kong people. I would like to thank everyone for their generous support, donations and enthusiasm for this Run in order to find a cure for cancer.” 24 EXCHANGE Vol.18
Every year the Terry Fox Foundation selects a local beneficiary for the TFRHK grant based on proposals received. The Chinese University of Hong Kong has been selected as the beneficiary for the fourth consecutive time. Dr Stephen L. Chan, Associate Professor of Clinical Oncology Department of Chinese University of Hong Kong, was selected based on his research for a new biomarker-driven approach for clinical trial of the most common types of liver cancer, Hepatocellular carcinoma which commenced 1 June 2016. As a result of Dr. Chan’s research, there will also be a Phase II clinical study which hopes to see a positive result by June 2018. Dr
Chan thanked all donors for their contribution to further clinical research. In addition to the Run itself, runners and families were entertained by an array of activities including post-run stretching, balloon twisting, art jamming, snacks and more. Participants also enjoyed taking photos with Terry Fox’s inspiring quotes. The Terry Fox Run Hong Kong raised a total of HK$700,000 in 2016, a record high donations when compared to HK$550,000 in 2015. The community is showing more and more support and we look forward to seeing even more community participation in the next event. This year’s Terry Fox Run will be held on 4 November. Everyone in the community is welcome to out run cancer by joining as an individual, family, school teams, groups or corporate teams. More information on donation and the Run can be found on their Facebook page “TerryFoxRunHK”.
About Terry Fox An active 18 year old involved in many sports, Terry Fox was diagnosed with osteogenic sarcoma (bone cancer) and forced to have his right leg amputated. While undergoing treatment Terry was inspired by others suffering from cancer many of whom were children. It was during this time, Terry made the decision to run across Canada – from the Atlantic Ocean to the Pacific Ocean - to raise money for cancer research. He would call his journey The Marathon of Hope. After 18 months and over 5,000 kilometres, Terry was running 42 kilometres per day. Sadly, however, 143 days into The Marathon of Hope and only half way across Canada, Terry was forced to stop as his cancer had spread, this time to his lungs. An entire nation was stunned and saddened. Terry passed away on 28 June 1981 at the age 22. 36 years later Terry’s Marathon of Hope legacy lives on. In his name over $650 million has been raised with over 70 countries worldwide hosting Terry Fox Runs annually. For further information, please contact TFRHK Organising Committee firstname.lastname@example.org
People Reading a Speech Verbatim Look Awful! By John Miers, Black Isle Consultants (Asia) Limited
How many of us have been advised how awfully boring it is when people read their speech aloud? Many of us have even agonized, having to do that in front of an uninterested audience. Head down, reading!
n fact, I remember the advice that I received, when younger, about speaking or giving speeches was that you MUST look at your audience all the time if you are to be successful!
Millions of dollars are spent developing teleprompters so that exalted leaders can be “looking at” their audiences all the time. So the speaker with his head down reading aloud is totally wrong? Not necessarily! Try talking to someone in a meeting while looking into their eyes all the time you are talking. It is very uncomfortable, almost threatening. It is very unnatural to do that. But hang on! We have just been told teleprompters allow speakers to look at their audiences all the time. A contradiction? Yes, it is. In fact, if you observe people talking in conversations with others, there are many instances where the speaker is not looking at the listener. He looks up and down, side to side, at random. The question you must ask is “when MUST you, as the speaker, look at the audience?” And the answer is; “when you want to make sure the audience has grasped and thought about the last
idea you have just uttered.” In other words, when we speak to a friend, in conversation, we subconsciously watch the friend for nods, smiles and other indications that encourage us to go on to the next item. It is as if we are waiting for permission to move on. In conversation, those signals from the audience/listener only happen a second or so after the listener has heard the words and thought about them. So, there is a pause, often, from the speaker where he is waiting for the audience’s permission to go on. SILENCE. And he is looking at the audience. So it is fair to say that the only time the speaker must look at the audience is when he is NOT talking; The pause after the idea. It follows then, that if you have to read a script, don’t try to pop up and down trying to look at the audience while you are talking. Look up at the end of each idea, for the last two or three words and then carry on looking at them in silence for a second or two before resuming your reading. If you are really clever you will start each burst of delivery/reading by looking at the audience for the first two or three words before looking down to read a few more. That is a technique we teach our clients and it takes time to master. Ronald Reagan was taught to do this technique by the father of the man who taught it to me. Reagan gained the reputation as the “Great Communicator”. No one realized that he read every word. So next time you have a script to deliver, even if you are not familiar with the subject, it is alright if you read it. But only you look at your audience in a short one or two second pause (Silence) after every idea you read out. They will thank you for that. Or better still get someone to help you to perfect that technique of reading with both pauses, one before you speak and one after you speak. It’s great fun and you will have a very useful skill in your armoury. 25
26 EXCHANGE Vol.18
Event Highlights The Tech Committee Presents: How to Use LinkedIn to Build Your Personal Brand Chris Reed, founder of Black Marketing, shared the secret behind building an awesome personal brand online through an engaging and in-depth presentation filled with many tips and anecdotes on how to brand yourself in today’s complex world of digital and social media. December 1, 2016 – CanChamHK Boardroom
KPMG Presents: The China Series: Chinese Outbound Investment – Opportunities Canada can Offer? Title Sponsor: KPMG
Moderated by Bernard Pouliot from Quam, John Gruetzner from Intercedent, Ryan Reynoldson from KPMG, Bing Lin from CM Asset Management discussed topics on the trajectory of trade development and investment facilitation between China and Canada and the possible opportunities in China that Canadian businesses can take advantage of. Jodi Robinson from the Consulate General of Canada in Hong Kong and Macao made the opening remarks.
December 8, 2016 – The Hong Kong Club
Signature Series Part 4: How and In What Circumstances M & A / Transaction Advisory Can Help the Growth of a Business Title Sponsor: Baker Tilly Hong Kong Venue Sponsor: Metta-
Pádraig Walsh from Bird & Bird briefly introduced the importance to understand the corporate finance principles behind corporate investment. Ian Wooden and Drew Dorweiler from IJW CO. Ltd further explained the M & A / Transaction process and shared an experience from an entrepreneur’s perspective.
January 12, 2017 – Metta-
2017 International People’s Choice Whiskey Tasting Partnered with American Chamber, British Chamber, Irish Chamber and Japanese Chamber, the first international whiskey event was held to taste, discover and learn different top tier whiskey brands from Canada, Ireland, Japan, Scotland and USA.
January 18, 2017 – The British Consulate-General 27
Event Highlights The Women’s Network Presents: Our Successful Canadian Women Series – Women in the Environment Anne Copeland from Copeland & Partners Ltd, Dr. Jeanne Ng from CLP Power Hong Kong and Lisa Christensen from Ecozine shared their journey how women made a difference to the environment and the community in Hong Kong and also tips to women working in the field, and to all people as individuals and/or part of a company to make a difference in raising awareness and improving the environment.
January 19, 2017 – CanChamHK Boardroom
Property Committee Presents: Now the Dust Has Settled Venue Sponsor: Colliers International
Nigel Smith, Andrew Haskins and Daniel Shih from Colliers shared the thoughts on the medium-term prospects for Asian property markets in the light of the recent economic and political developments in the Asia Pacific region and North America, such as changes in the US interest rate, potential recession in the US in 2019, etc.
February 15, 2017 – Colliers
FSC Presents Hollywood and China: What Investors Need to Know In view of the skyrocketing growth of the Chinese entertainment industry, the panel,consisting of Yaron Jacobs from LKF Media Limited, Francis Ng from SMI Holdings Group, Byron Mann (Hollywood actor), Alick Dong from Co-High Investments, Peter Tsi (Producer) and Damien Brosnan (Executive Producer), discussed the growth opportunities for companies looking to invest into the Chinese entertainment and media industry as well as the lessons that other companies can learn from their own experiences.
February 18, 2017 – CUHK MBA Town Centre
ESBC: Social Entrepreneurship Series The Social Entrepreneurship Subcommittee invited Timothy Ma from the City University of Hong Kong and Leong Cheung from the Hong Kong Jockey Club to share their experiences on how to run their social enterprises in supporting the elderly and youth in Hong Kong.
February 27, 2017 – CanChamHK Boardroom; March 8, 2017 – CanChamHK Boardroom 28 EXCHANGE Vol.18
Event Highlights Young Professional Committee Presents: Awaken the Rooster in You: Prepping For Your Dream Job Title Sponsor: ConnectedGroup Venue Sponsor: Thomson Reuters
Moderated by Yanjun Chen from Thomson Reuters, a lively panel (Cavan Chan from Barooue, Mathew Gollop from ConnectedGroup, Nick - inspired the audience on how they could be prepared for the next career move, such as Demarinis from LinkedIn, Keshia Hannam from Mett a) how to best position yourself in person, online and in learning to understand how to best pursue our passions. The event was supported by the Belgium-Luxembourg Chamber, Finnish Chamber, Irish Chamber and Swedish Chamber.
March 7, 2017 – Thomson Reuters
Mines and Money Asia Conference Once again the Chamber worked with Mines and Money Asia to bring another Canada section in the Conference, which provided a platform to link both investors and mining companies with a new element “Future Energy and Finance’ on clean and renewal energy.
April 5 to April 7, 2017 – Hong Kong Convention and Exhibition Centre
KPMG Presents: The China Series 2017 – The Sixth Plenum Title Sponsor: KPMG Supporting Organization: CPA Canada, Hong Kong Chapter
The panel consisted of Dr. Annie Wu SBS, JP, David Frey from KPMG and Robert Grieves From Hamilton Advisors Limited, with Ron Hoffmann from Government of Alberta being the moderator. It discussed the key developments from the Sixth plenary session, how such development would affect business and what would likely to transpire in the next few years.
April 11, 2017 – The Hong Kong Club
Signature Series Part 5: How I Started, How I Made It Title Sponsor: Baker Tilly Hong Kong Venue Sponsor: The Executive Centre
The seminar was a journey of an entrepreneur in a medical practice in our business community that Dr. Bramley shared her experience, including the reason for choosing Hong Kong to start her business, the challenges of setting up a practice in Hong Kong in 1996 and also the strategies she had used to achieve her goals.
April 26, 2017 – The Executive Centre 29
Welcome New Members CORPORATE
Crown Worldwide (HK) Ltd Profession: Logistics & transportation Billy Wong, Managing Director, Greater China Sammy Fong, Regional General Manager, RMS Greater China Sherry Liu, Regional General Manager, Greater China Relocation (852) 2636-8388 http://crownworldwide.com
Dechert LLP Profession: Legal Services Kareena Teh, Partner Fabian Roday, Associate (852) 3518-4715 https://www.dechert.com/
Delta Air Lines Inc. Profession: Travel & Hospitality Judy Lau, Regional Manager Hong Kong Winnie Mok, Business Development Manager Stefanie Yu, Business Development Manager (852) 2848-1208 http://www.delta.com/
University of Alberta Profession: Education Joanna Chan, Advancement Officer Trevor Mak, U of A Alumni Association of HK President http://www.ualberta.ca/alumni
CORPORATE ADDITIONAL Aurelie Cadrouvele, Audit Senior, Mazars Beverly Chong, Associate Director, GB, GB FIG, HSBC Celin Ip, Head of International Subsidiary Banking, HSBC Cindy Lai, Executive Assistant, Legacy Trust Company Limited Helen Wong, Division Head, International Subsidiary Banking, HSBC Grace Guo, Associate, Royal Bank of Canada Financial Group George Tee, Chief Technology Officer, Hong Kong Science & Technology Parks Corp Maggie Lee, Director, Risk Advisory Services, RSM Hong Kong Marin Besnier, Senior Accountant, Mazars Melaine Kirk, Delia School of Canada Myles Morin, Senior Operation Specialist, Legacy Trust Company Limited Renee Chong, Manager, Personal Banking Service, Bank of Montreal Vinod Khiatani, Director of Student Services & Admissions, Christian Alliance P.C. Lau Memorial International Wilson Lo, Associate Director, GB, GB FIG, HSBC
Formula Growth Asia Ltd Profession: Investment Management Nelson Cheung, Director James A Soutar, Director (852) 2869-8360 http://www.formulagrowth.ca
Nova Scotia Business Inc Profession: Government Organizations Peter MacAskill, Chief Operating Officer Beth Girard, Director, Strategy & Research Angela Ralph, Director, Corporate Projects & Partnerships (1) 902-424-6650 https://www.novascotiabusiness.com/
30 EXCHANGE Vol.18
Dr. Katherine Dale Profession: Health & Wellness Katherine Dale-Baloch, Naturopathic Doctor (852) 9388-6706 http://www.drkatherinedale.com
Arredamenti Company Ltd Profession: Consumer Goods Jane Tong, Managing Director (852) 2690-3884 http://www.kelvingiormani.com
Capitoline Development Inc. Profession: Real Estate & Property Development Vincent Chao, Director-General Chloe Yuen, Secretary (852) 2618-3973
GoAnimate Limited Profession: Technology & Telecommunications Billy Chung, Director of Business Development (852) 2503-2766 https://goanimate.com/
Happy Jellyfish Language Bureau Profession: Education Cecilie Gamst Berg, Manager (852) 9331-9673 http://www.learncantonese.com.hk
Haywards of Hong Kong Profession: Consumer Goods Natalia Lech, Marketing and Design Manager Jonathan Nazer, Production Manager (852) 2545-4400 www.haywards.com.hk/en/
One Fit City Profession: Health & Wellness Devin Welsh, Director (852) 5597-8848 https://hongkong.onefitcity.com/
Sothebyâ€™s International Realty, Canada Profession: Real Estate & Property Development Doris Lam, Real Estate Sales Representative (1) 416-2773989 www.sothebysrealty.ca
Welcome New Members
The Entertainer Asia Profession: Travel & Hospitality Brian Mak, Country Manager (852) 3955-8748 http://www.theentertainerasia.com
Top Schools Profession: Education Ruth Benny, Founder (852) 3614-6249 http://topschools.com.hk/
ENTREPRENEUR ADDITIONAL Anna Leonardo, Account Director, AD MediLink
INDIVIDUAL Alain Joyal Sr. Vice President Corporate Communication, GOIP Group Alex Tam Angela Ward Regional Director, Sthree Benjamin Chui Business Development Coordinator, Paul, Weiss, Rifkind, Wharton & Garrison Devan Darby Husky Energy (HK) Ltd Dickie Mok Donald Rae Residential Property Agent, OKAY.com Elisa Wong Marketing Manager Florence Huang Founder and Psychologist, Thinking Trail Giillaume Leger Director â€“ Asia Franchise Controller, Citibank N.A. Graham Law Jack Li Director, Sun Hung Kai & Co Limited Jacky Sin Registered Foreign Lawyer, Slaughter and May Jenny Got Recruiter, Robert Walters Jessica Kwok Cathay Pacific Service Limited Josephine Chan Advisor, State Path Capital Ltd
Carmen Ng Director of Business Development, Island Shangri-La Lisa Tang Mews Homes Ltd Lok Shan Sandy Ting Consultant, Ella Cheong & Alan Chiu, Solicitors & Notaries Marco Li TT International Maryann Tsang Executive Director, Morgan Stanley Muhammad Faisal Bhutta CEO/Director, Arsons International (HK) Ltd Dr. Nadira Lamrad Senior Manager â€“ Sustainability and ESG Advisory, Business Environment Council Limited Philip Leung Phyllis Leung Director, Phyllas Company Limited Priya Badlani Associate, Jones Day Raymond Wong Portfolio Manager, China Merchants Rick Kam Director of Finance and Operations , Time Inc. Rilla Roessel Pearson Robert Grieves Chairman, Hamilton Advisors Limited Samuel Wong Director and CFO, ABS Global Ltd Skott Taylor Founder / Director Tamara Kirshbaum Marketing Executive, Maples and Calder Terrence Chao Town Planner, Hong Kong Government Planning Department Tina Lee Jebely Executive Director, Legal, Credit Agricole Corporate and Investment Bank Tommy Shinjiro Or General Manager, Medike Hong Kong Ltd Tyler Cohen Associate, Paul, Weiss, Rifkind, Wharton & Garrison Winnie Lee Yoji Chu Manager, NorthSun Group Yuk Man Herman Au Managing Director, Amtrac Furnishings International Ltd
YOUNG PROFESSIONALS Alex Muir Fixed Income Product Analyst, Wellington Management Amelie Desjardins Angus Chan VP Corporate Banking Relationship Management, Hang Seng Bank Antoinette Bailey Full-time MBA Student, The Chinese University of Hong Kong Ben Ross
Project Manager, Cross The Pacific Brian Ho Business Development Manager, Aberdeen Asset Management Chieh-Han Jay Chan Marketing Specialist, OtterBox Christine Wu Curriculum Manager, Monkey tree International Feria Kazemi Marketing Communications and PR Consultant Flora Ma Senior Consultant, Ernst & Young Hilary Ko Iris Kwan Ishan Bhatla Student, CUHK Business School, The Chinese University of Hong Kong Jordan Oreck Associate, Sullivan & Cromwell LLP Ka Ho Jeffrey Au Managing Director, Mecha Assist Ltd Karl Wang Kit Lai Law Business Development Manager, Asian Private Banker Leo Lau Graduate Engineer, Chun Wo C&E Co., Ltd. Maggie Chow MBA Candidate, The Chinese University of Hong Kong Newton Lai Associate, Bird & Bird Patrick Carty Rachel Cyma Lo Rajani NAIR Ronald Kwok Partner Channel Development Manager, Microsoft Shannon Gong UBS AG Thomas Allen Client and Biz Dev Manager, Cross The Pacific Ltd Tiffany Lo Account Manager, Deliveroo Tim Fung Vedant Chowdhary MBA Candidate 2017, The Chinese University of Hong Kong Wilcy Giang Associate, Madison Pacific Trust Limited
NON-PROFIT Asia Society Alice Mong, Executive Director Dorothy Cheung, Head of Membership Penny Tang, Head of Programs (Business & Policy) Canadians in Hong Kong Lily Ng , Co-Founder Civic Exchange Joyce Lau, Director of Communications Community Business Limited Fern Ngai, Chief Executive Officer
The Canadian Chamber of Commerce in Hong Kong's Quarterly Magazine. Cover Photo Credit: Scott Kirk