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BRITCHAM ORIENT MAGAZINE

Orient

THE OFFICIAL MAGAZINE OF THE BRITISH CHAMBER OF COMMERCE - SINGAPORE

Building Networks Connecting Business Creating Opportunities WWW.BRITCHAM.ORG.SG

ISSUE 46 / DEC–JAN 2014

SPECIAL FEATURES

16

ECONOMIC PREVIEW: SOUTH EAST ASIA

21

IN FOCUS: MADAN MENON

ISSN 0219-1245

ISSUE 46

46

9 770219 124002

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Celebrating 25 Years In Asia Building Trust • Delivering Expertise

Friends Provident International is a leading provider of competitive life assurance, pensions and investment products. We share a rich heritage with the Friends Life Group, which has enabled us to build a reputation of trust across the globe. We are honoured to celebrate a new milestone in Asia, and remain dedicated to developing quality financial solutions for our customers. From wealth creation to wealth management, we are here with you at every step of the way. We have made your vision our passion for the past 25 years, and look forward to celebrating many more successes with you in the future.

www.fpinternational25.asia

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In the future, it will take many imports to make an export.

Supply chains are increasingly complex and global. HSBC’s supply chain experts can help you construct opportunities, piece by piece. There’s a new world emerging. Be part of it. There’s more on supply chains at www.hsbc.com/inthefuture Issued by The Hongkong and Shanghai Banking Corporation Limited, which is incorporated in the Hong Kong SAR with limited liabil

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ity.

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#Outstanding

out·stand·ing] {adj} Standing out among others of its kind. http://tts.edu.sg #tts

Tanglin Trust School has over 88 years of experience and tradition in delivering a high quality education to students aged 3 to 18. The English National Curriculum is tailored to the context of South East Asia. A Level and International Baccalaureate Diploma pathways are available post 16 years. Tanglin is inspected within the British Schools Overseas inspection (BSO) framework, recognised by Ofsted. In its last three inspections (2011, 2012 and 2013), Tanglin was awarded Outstanding, the highest possible grade. “The combined effect of the school’s outstandingly bespoke curriculum and extensive enrichment activities promotes pupils’ high levels of attainment and outstanding progress, and helps them to develop into well-rounded, community spirited and responsible, international young citizens.” 2013 BSO Inspection Report t: +65 6778 0771 | e: admissions@tts.edu.sg | w: www.tts.edu.sg British–based learning with an international perspective

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Tanglin Trust School – CPE Registration No.: 196100114C Period of Registration: 7th June 2011 to 6th June 2017

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Contents

11

PRESIDENT’S MESSAGE

13

EXECUTIVE DIRECTOR’S MESSAGE SPECIAL FEATURE

16 21

Economic Preview: South East Asia In Focus: Madan Menon

FEATURES 26

Bigger Bombs and Leadership in the Global ‘Hollow Cube’

29

Mindfulness in Schools

31

When Business Models Go Wrong

34

How to get Societal and Economic Value out of Technological Innovation

36

Buoyant Employment Market Spurs Employees into Action

UK TRADE & INVESTMENT 51

Business and Human Rights

AT THE CHAMBER 54

Britain in South East Asia News

55

BritCham New Members

58

Business Group News

64

Sterling News

66

Corporate News

70

Events

74

BritCham Events Review 2013

80

Events Calendar

CULTURE & LIFESTYLE 82

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If the World Changes, Singapore Biennale

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W W W. B R I T C H A M . O R G . S G

British Chamber of Commerce, Singapore Sponsors PLATINUM SPONSOR

GOLD AND DIVERSITY SPONSOR

SILVER AND BREAKFAST CLUB SPONSOR

SILVER SPONSORS

GOLD SPONSOR

BRONZE SPONSORS

BRITCHAM BOARD: PRESIDENT: Hugo Walkinshaw: Deloitte Consulting SE Asia VICE-PRESIDENTS: Andrew Vine: The Insight Bureau Peter Allen: Pacific Century Group TREASURER: Dominic Nixon: PricewaterhouseCoopers HONORARY SECRETARY: Damian Adams: Simmons & Simmons EX-OFFICIO: Judith Slater: British High Commission Mark Howard: British Council BOARD MEMBERS: Andrew Thomas: Ogilvy & Mather Singapore Anthony Lucas: Ernst & Young Solutions Chris Davie: Rolls-Royce Singapore Clive Christison: BP Singapore David Macdonald: Portfolio Builders David Pugh: The Fry Group Ian Williams: HSBC Bank Peter Hatt: Standard Chartered Bank Richard Burn: Diageo Singapore Robert Williams: British Airways Rudi Geerdink: The Royal Bank of Scotland Sian Brown: Barclays Bank Tim Harris: BT Singapore

Editor: Vipanchi vipanchi@britcham.org.sg

Orient is a bi-monthly magazine published by the British Chamber of Commerce.

Content Co-ordinator Venges Nathan

© All rights reserved.

138 Cecil Street, #13-03 Cecil Court, Singapore 069538 Tel: +65 6222-3552 Fax: +65 6222-3556 Email: info@britcham.org.sg www.britcham.org.sg

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COMMITTEE CHAIRPERSONS: Events & Sponsorship: David Macdonald External Affairs: Steve Puckett Membership: Andrew Vine Sustainability and Responsibility: Richard Burn Diversity: Simon Croxford BUSINESS GROUP CHAIRPERSONS: Energy & Utilities: Damian Adams Entrepreneur & Small Business: Peter Seligman Financial Services: Patrick Donaldson IT and Communications Technology: Henry Farahar Leadership: Peter Hatt Creative Industries: Frazer Mcdonald Hay Professional Services: Martin Riddett Property & Construction: Richard Warburton Scottish Business Group: Jason Grant Shipping Transport & Logistics: Neil Johnson Women in Business Group: Gwynne Masters Young Professionals: Miles Gooseman MANAGEMENT TEAM: Executive Director: Brigitte Holtschneider Accounts Manager: Sabitha Munnangi Business Services Manager: Jennifer Hainsworth Events Manager: Tiffeny Kua Membership Manager: Katie Hudson Membership & Events Assistant Manager: Emi Hosono Marketing & Communications Manager: Vipanchi Marketing & Communications Executive: Venges Nathan Office Administration Executive: Anna C Garciso

The views and opinions expressed or implied in Orient are those of the authors or contributors and do not reflect those of the British Chamber of Commerce, its officers or editorial staff. No reproduction of articles without the prior permission of the Chamber. Unsolicited transparencies and articles are sent at owner’s own risk and the

Chamber accepts no liability for loss or damage. Copy is not for sale and images belong to their respective owners. They are for illustrative purposes only, and no copyright infringement is intended. Sub-edited, designed and printed by:

www.novusasia.com

Contact: Simon Cholmeley simonc@novusasia.com Design: Kevin Ong kevinong@novusasia.com Khairunnisa khai@novusasia.com Sub Editors: Chua Kim Beng kimbeng@novusasia.com Iliyas Ong iliyas@novusasia.com Creative Services: Kwan Gek Lian gek@novusasia.com

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President’s Message

W W W. B R I T C H A M . O R G . S G

Dear Members, As 2013 draws to a close, it is only fitting that we finish the year with the largest social event on our calendar—the BritCham Oriental Ball, which celebrates the cultural diversity of East and West, brings together the best of both worlds and complements our organisation’s role in forging ties between Singapore and the UK. Over the years, we have continued to strengthen our core network of companies and individual members, deepen our relationships with both the Singaporean and UK governments and broaden our exposure through a variety of business organisations. We have expanded our services and offerings, which highlight our focus on delivering our core strategic objectives of Building Networks, Connecting Business and Creating Opportunities. We continue to play a strong role within the business community in Singapore, providing valuable links for business, while all the time maintaining an inclusive focus on delivering value to our growing membership.

Hugo Walkinshaw

President, British Chamber of Commerce

All of this would not have been possible without the energy, support and active participation of our members, sponsors, committees, business groups, board members and a dedicated Chamber executive team. I would like to thank you all for your valued contribution. As we look forward to 2014, one important milestone to note will be the celebration of our 60th anniversary, a landmark year in the Chamber’s long and proud history. There will be more to follow in the new year, but I can assure you that we will be celebrating this significant milestone in the coming months by looking back at the journey of the last six decades, as well as looking forward to how we will continue to grow successfully in the future. Finally, on behalf of the Board and our executive team, I wish you and your families a Merry Christmas and a Happy New Year, wherever you might be this holiday season.

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Executive Director’s Message

W W W. B R I T C H A M . O R G . S G

Dear Members, I can’t believe it’s time to write my last message for Orient for 2013; the year went by like a whirlwind, with plenty of new initiatives in your Chamber. First and foremost, I would like to take this opportunity to thank you all for your loyalty and your involvement in the Chamber’s programmes; without the dynamic interaction we enjoy with so many of you, growth and development would not be possible.

Brigitte Holtschneider

Executive Director, British Chamber of Commerce, Singapore

In many ways, 2013 has been a special year for us. Participation in the Overseas Business Network Initiative, launched by Lord Green in November 2012, marked a step change in perception and activities. As a result of our collaboration with UKTI to deliver OMIS-like services to SMEs from the UK, the Chamber is now better connected to the UK Regional Chamber network. We are in communication with all 54 accredited UK Chambers, and much interest in the Singapore market has been registered. This, in turn, provides many new business opportunities for our members. We are delighted to be one of 40 markets to be able to offer this. My expressed thanks goes to the High Commission and the UKTI team here at post; without the fantastic relationship we have been enjoying, the journey into new territory would not have been as smooth. I would also like to thank the core committee of our Professional Services Business Group. The Group’s engagement in the Headstart initiative that preceded Lord Green’s plans was instrumental in the Chamber reaching out to UK Regional Chambers long before a formal connection was proposed. I am looking forward to delivering the first report about our services in 2014. If you want to find out more about BCC Business Services, please log on to britcham.org.sg/businessservices Towards the end of 2013, our corporate membership would have crossed the 400 barrier, marking yet another milestone in our membership growth. This is testament to the dynamism of the Chamber, and a sign that membership is increasingly attractive and beneficial for doing business in Singapore and the region. Our connection with the other British Chambers and Business Groups in the ASEAN markets is stronger than ever, partly due to Indonesia, Thailand, Malaysia, Vietnam, Cambodia and the Philippines also participating in the Overseas Business Network Initiative. Looking forward, 2014 promises to be another special year for the Chamber, probably even more so than 2013, as we celebrate our 60th anniversary. We will soon share our plans to commemorate this occasion. By the time you read this message, you will most probably be recovering from the Britcham ORIENTAL Ball, the fabulous year-end party we organised in the Shangri-La Hotel on December 7. I hope you, your friends and your guests enjoyed it! In closing, I wish you and your families a Happy Christmas, and a relaxing and good start to the New Year. Wishing you the very best for 2014!

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Sterling Members

W W W. B R I T C H A M . O R G . S G

SINGAPORE

Singapore

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Special Feature

Economic Preview: South East Asia By Wai Ho Leong

What economic initiatives did key South East Asian nations— Singapore, Malaysia, Thailand and the Philippines—implement in 2013, and how will that affect their prospects for 2014?

A

s we move swiftly towards the close of a year characterised by a turbulent but improving global economy, North Asia is now enjoying a lift from the nascent recovery in the G3 economies (US, Europe and Japan), while low inflation and stronger credit fundamentals are encouraging domestic demand. But across South East Asia, the picture is more mixed. Negative sentiment is, in some cases, sapping domestic demand. However, the stronger global lift should eventually be felt through higher external demand, but this momentum may take time to pick up. While growth in Asia in the second part of 2013 has picked up gradually, the missing ingredient continues to be confidence.

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Among exporters in Asia, there is still a sense of relative caution, meaning that even as we see a gradual recovery in the US, they are delaying the ramp-up in production for the year-end festive season. As a result, excess inventories are being run down. This could point to a later-than-usual rush to fill orders for Christmas by manufacturers. Furthermore, the balance of risks has tilted against South East Asia somewhat, as the market places more emphasis on relative credit fundamentals. Investors sold assets of those countries with large current account deficits (Indonesia) or where current account surpluses are falling (Malaysia and Thailand). In contrast, the economies of North Asia, where external balances have improved

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Special Feature: Economic Preview: South East Asia

on stronger global demand, have become perceived safe havens. For example, Korea, whose current account surplus we expect to rise to 5.2% of GDP in 2013 (anything above 2% is large by OECD standards), has actually seen its currency appreciate 3.8% against the US dollar in the last six months. Even during the aggressive sell-off of emerging market assets in Q3, we still saw foreign inflows into Korean bonds. North Asian equities have also outperformed markets in the south, and flow data suggests an acceleration in inflows by overseas investors in recent weeks, while inflows into South East Asia equities remain subdued.

sector. Policymakers in Indonesia and the Philippines have also undertaken macroprudential measures to manage mortgagerelated lending.

To counter these trends, we have seen some strong policy reactions by governments across South East Asia. In response to depreciating pressures on their currencies, Indonesia has hiked short-term interest rates, while Malaysia and Thailand have also outlined pre-emptive steps for fiscal consolidation and to rein in household debt by cutting expenditure and introducing macro-prudential measures on the property

Amid market volatility, the silver lining for Asia as a whole has been the lack of inflation. Price pressures across the region remain benign, except in a few outliers. We expect food prices to be well behaved, as favourable weather is expected over the rest of 2013 while key indicators generally bode well for agricultural production. If these conditions persist, food price volatility should pose less of a problem in the coming year

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Looking ahead, we expect the perception of risk associated with South East Asia to ease gradually, particularly for those economies that are likely to see an improvement in their external balances. Malaysia, whose economy is closely correlated with global growth, is likely to see stronger exports. Indonesia will also see some improvement in its current account deficit in 2014 on an import slowdown driven by softening growth.

for policymakers. Across South East Asia, governments are looking to rein in spending and increase income. In Malaysia, fuel prices have been raised and the government is cutting operational expenditure. In a bold attempt at rebalancing the tax structure, it announced plans for a 6% goods and services tax, while lowering corporate tax to 24%. In Indonesia, the government raised fuel prices, but the risk of some fiscal support ahead of elections next year amid slowing growth is still present. Thailand has also pulled back on populist policies, such as the first-car buyer scheme, but maintains the rice pledging scheme. In Malaysia and the Philippines, governments are pushing infrastructure spending while keeping other expenditure in check. Monetary policy may also tighten further in the region towards the end of this year and next. Our view is that Malaysia is starting to move towards a tighter monetary stance, as domestic demand is still strong and as

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Closer to home, we remain reasonably positive on the outlook for the Singapore economy at the tail end of the year and into the next.

About the Author Wai Ho Leong is Director and Senior Regional Economist with Barclays. Based in Singapore, he oversees a team of economists covering South East Asia. He joined Barclays from Singapore’s Ministry

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inflation edges above 3%. Singapore may also tighten monetary policy in H1. Both will lead the North Asian economies such as Korea and Taiwan into rate hikes, which we expect to start in Q3 2014. On housing, policymakers remain vigilant. Thailand and Malaysia have announced more measures to curb property prices, and we expect more macro prudential measures in Indonesia and the Philippines.

the global economy. The economic recovery in the US, which has been led by the housing sector, is expected to broaden to household consumption and corporate investment. The European economy only emerged from a recession in Q2 and is likely to gain more traction in 2014. Global business confidence has already improved to its strongest since May 2011, paving the way for an improving picture to follow.

Closer to home, we remain reasonably positive on the outlook for the Singapore economy at the tail end of the year and into the next. Barclays’ forecast is for growth to resume in Q4 and average 3.3% in 2014. Singapore’s small and very open economy will benefit from a gradual improvement in

*All figures correct at time of writing.

of Trade & Industry, where he was a Senior Economist and Deputy Director in the Economics & Strategy Division, responsible for a team that provided policy advice. Prior to that, he was a Country Risk Analyst with the

International Credit Division of Fuji Bank in Singapore. In the 2013 Finance Asia Fixed Income Research poll, Barclays was a clear leader, with Wai Ho earning a #2 ranking among currency analysts in Asia.

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In Focus

W W W. B R I T C H A M . O R G . S G

In Focus: Madan Menon RBS’ Head of International Banking shares his thoughts with i nc i on t e g o econo n ow Es i te to t e Chamber can survive in the new economic environment.

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What is your view on the global economy today?

Let me set some context. Last year was substantially focused on crisis management and clearly the eurozone was at the centre of that, ranging from Greece and challenges lapping on Italy’s shores to issues around the Spanish banking system. This year, despite some turbulence in the global economy, apart from the stand-off between lawmakers and US President Obama in the last few months, we have seen some points of calm. Therefore, I see an element of growing, but with cautious optimism.

On a macro level, how is this cautious optimism being translated into the global economy?

In the context of the US, again notwithstanding the last few months, there is an element of heightened momentum where these green shoots are being a little more sustainable perhaps compared to last year. If you look at the UK, there are some green shoots with respect to recovery. I think it’s about 2% this year versus zero percent last year. The appropriate measures taken

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In Focus: Madan Menon, Royal Bank of Scotland

are clearly showing an upward trend. The eurozone is growing again, even if it is at a meagre rate. In Asia, I think the giant obviously is China, and we remain optimistic on its outlook. Some of the other countries have lost momentum, including my home country, India, whose growth rates are sliding dramatically. So, the outlook for Asian economies, as well as for the global one, is dependent to a high degree on China. I do see an element of purposefulness and policy clarity with respect to India and China to ensure both these economies continue to fuel economic growth as they did in previous years, but with perhaps a lesser momentum this year. That leaves a big picture context. Will this view be universally embraced? I would argue perhaps not.

Your optimism is largely China-centric. Why is this so? While statistics will always play themselves

out, I am optimistic on China’s continued momentum in terms of growth, whether that number is 7.5%, 7% or lower. Does China have certain elements that need to be remedied and relooked at? Undoubtedly. But, they are actually taking action to change course. For a long time their strategy had been export-driven, with a primary focus to drive Chinese exports, capture volume and capture strategic market share in a range of products across the world. However, they are now recalibrating their pattern of growth to ensure that a larger focus is on domestic consumption, which in my view is more sustainable.

There are reports that position ASEAN in a better light than China. What are your comments?

The size and nature of opportunities in China is different from what Indonesia, Malaysia, the Philippines and others can offer. The key is finding how each economy can complement the other, instead of looking at it from a zero-sum perspective on investment dollars flowing into these

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countries versus going to China. I have a little more cautiously optimistic view on China on a longer term and that’s also perhaps my generic view, in part because it seems China is moving up the value chain more decisively.

Where does India stand in the bigger picture?

With India, the key issues are quite clear. They are principally about consistent focus in terms of policy implementation. Is there an immediate element to some challenges? Absolutely. But the more important challenges and perspectives are more longer term. Indeed, the currency volatility that grabbed the headlines one to two months ago has been far more subdued in the last few weeks. Overall, we need to view this with three or four views, and each with a particular lens. An economist, for example, would focus on a quarterly view, looking at where GDP growth or the fiscal deficit is heading and making a strategic call. The markets business

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will focus on whether it is in forex, equities, fixed income or commodities, and will take a view on price, which is a little shorter term. The ratings industry will take a holistic view and add an assessment of policies and risks, for example, and then take a view on the outlook. A fourth lens is that of a businessman or a company considering both day-to-day aspects and strategic plans, and viewing the whole thing through a long-term perspective. Combining these views, I remain constructive on India. Personally, I am absolutely clear that I need to be aware of, sensitive to and manage issues that are defined as either issues or risks and find ways to mitigate those. But fundamentally, that does not change one’s own investment appetite in terms of a particular country and, in this case, with India being a robust destination point. So, in my mind, the opportunity in India remains robust in the long term. I have no doubt at all.

Is this why RBS sold a substantial part of retail and commercial businesses to Ratnakar Bank in India?

The sale of this business is a culmination of RBS’s strategic review that was announced back in 2009. The bank’s view on our products and clients was to be focused and more relevant to what we offer to our clients. We decided to sell off our retail and commercial businesses, which was a substantial part of the RBS business, to ANZ in Asia Pacific and to HSBC in India. The sale to HSBC did not take place for a variety of reasons. Today, the decision to sell to Ratnakar Bank is the culmination of the process announced four-and-a-half years ago. This will mark the end of a process and, more importantly, focuses our commitment to the areas where we have the greatest opportunity for growth. We have found an outstanding buyer in Ratnakar Bank and, following the sale, we will be able to concentrate 100% on what we set out to do.

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In Focus: Madan Menon, Royal Bank of Scotland

Going back to the global view, who is investing what and where? There are two or three lenses here we can address that from. The first lens is where in Asia are companies from the UK, US and EMEA investing in. The second is in which industries or areas are they investing in. The third is intra-Asia investment. Ultimately, everything has to be viewed through the lens of the principal investor. All of our clients, especially those that are based in the UK and have Asian growth aspirations, continue to be interested in the opportunities in Asia. The sectors and verticals of interest may differ but the direction is very clear. Large Singaporean, Australian, Indian or Chinese companies, for example, are investing in the US, UK or EMEA across a range of sectors. However, most importantly, they are playing to their own core competence and a desire to be in markets that give them an element of dominance, geographic diversity and opportunities for growth. We also need to draw a distinction around the intra-Asia trade flow versus investment and capital flows. The volumes in investment flows have declined this year compared to last year, but we are still seeing investment flows intra-Asia. For example, the heightened focus in energy assets diminished in the intra-Asia context. Ultimately, all of this reflects the macro global economic performance which, as we know, is subdued.

How is the global investment and trade between UK and other countries looking?

Trade and investment flows between UK and Asia have remained positive. Perhaps over the past three to five years, aspirations have been pared down because of modest economic environment. However, I fundamentally believe that we should look through the volatility and take a long-term view. If you look through the capital lens, what is interesting is that, three years ago,

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companies outside the equity markets raised their capital primarily in the dollar, sterling and euro markets through loans and bonds. They did less of that in Asian currencies outside of their domestic markets. So, increasingly, you will see a trend where companies will tap liquidity either in markets where they have a strategic choice, for example, in China where they have significant businesses investments, or in Singapore, which is a more conducive market as a vibrant market place. Previously, there were not that many non-Singaporean issuers who have tapped the Singapore dollar (SGD) bond market. However, we have seen more of that in the last two years. This year, we saw the bond markets fall away two to three months ago where volumes have come off. We have continued

to provide access to new investor liquidity via the SGD market to bond issuers.

Singapore and the EU have signed the EU-Singapore FTA (EUSFTA). How will this help the Singaporean economy?

Some of the statistics I’ve seen indicates that Singapore is the second largest Asian investor in the EU after Japan. The trade in goods and services between the EU and Singapore was around ₏74 billion in 2011, which, to put it in context, accounts for one-third of the aggregate EU-ASEAN bilateral trade. This is a staggering statistic, and is an incredible achievement for Singapore. More importantly, it highlights the strength and potential of this agreement. What I find interesting about this

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relationship makes a business sustainable. It is also important to maintain transparency. This will produce rewards in the long haul. I have great admiration and respect for entrepreneurs and SME-owners. The courage it takes to persevere and maintain determination to see a project through is incredible. There are some brilliant ideas out there, and I am confident that there are more and more opportunities for SMEs to grow.

Talking of perseverance and determination, can you share some leadership lessons you have learnt over the years? In my mind, leadership depends on time and place. One would need to apply a leadership style that is harmonious at times despite differing views to a point where everyone in your team agrees to a common goal and direction. As role models, I think Nelson Mandela and Mahatma Gandhi both addressed significant challenges but consistently applied harmony.

EUSFTA is ASEAN accumulation concept, where Singapore-based companies or manufacturers get the benefit of tariff concessions when exports are made from Singapore that include goods sourced outside of Singapore as well. This will encourage companies outside of Singapore to naturally think of Singapore as a regional hub, to send raw materials to Singapore for processing before it is being shipped globally. As a direct result, it also has a complete focus on employment that Singapore will hopefully generate. Looking at it from a productivity, employment and investment view, it is materially uplifting for Singapore and EU. This will also help British companies here to tap this opportunity to play a more meaningful role, particularly in terms of working with Singapore and the UK and

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the EU, to be a critical intermediary in terms of trade, capital and investment flow.

At the Chamber, we have several SMEs trying to survive the competitive market across various sectors. What suggestions do you have for them?

I believe there are a few common threads attributing to the success of any company, which I hope to articulate sensibly. The first is their purposefulness and ambition; the second is their competitor landscape and environment; the third is the importance of considering the differentiation of their service and product; and finally, access to a strong banking partner that believes in their business as much they do and are willing to take a view beyond the immediacy of an economic statistic. There is a constant need to evolve and maintain a good relationship with your consumer and your client. This

This philosophy can be applied in any context. How I look at it is this: for every cause there is an effect. We have full control over our own life, team or company to create a cause. Personally, I apply this philosophy in everything I do, whether it is with family or work. There are times when one needs to take a more severe or a direct stand without engendering anger and resistance but ignite recognition and awareness.

It is a challenge for companies to retain good talent these days. How do you manage this?

We really need to try. We consistently try to engage with all our employees in RBS. We have a Mentor-Mentee programme with an aim to provide an element of wisdom and grey hair. There are plenty of opportunities for an employee out there, which makes you think of the longevity of a company’s role. However, having things in place is key. At the end, those who want to stay will stay, and others will leave. If you provide a conducive environment for employees to develop, I believe they will continue to be a partner and a colleague.

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Feature

Bigger Bombs and Leadership in the Global ‘Hollow Cube’ By Ian Martin Oh, I’ve got a bigger bomb than you / And I’m gonna tell you what to do / And if you’re not with me, then you’re my enemeeee / ‘Cause I’ve got a bigger bomb than you!

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o goes the chorus of a wonderfully satirical song, written in dubious honour of the Bush/Cheney/Rumsfeld school of American imperialism. Looking back on 2013 with the crystal-clear lens of hindsight, how productive was this approach to global leadership? The answer is obvious. And yet, are we still not just as guilty of imposing our own parochial views on global business?

What is this ‘hollow cube’ organisation in my title? To explain, I must go back to the ‘good old days,’ when the head of the business sat at the summit of the organisation chart like an angel at the top of the traditional Christmas tree. Underneath him (or, occasionally, her) stood obedient subordinates who, like candles on the tree, served to illuminate the angel’s beauty from below, and to faithfully obey orders emanating from above.

I’m not referring only to corporations with origins in colonial Europe or the neo-colonist USA. The huge Indian family empires, such as Hinduja, Birla and ArcelorMittal, and Japanese corporations such as Nippon Sheet Glass, Canon, Mitsubishi and Sony, are all susceptible to defining the business world on their own terms.

In global organisations, this hierarchy struggles to survive. Today, we talk about matrix organisations. And yet, these twodimensional models are poor illustrations of the complex, interdependent global corporations of the 21st century. Instead, I imagine the modern organisation as a three-dimensional hollow cube. The leader of today sits at the centre of the cube, and

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scattered on all six faces are the product, geographic and functional entities that comprise the global corporation. Some of these are closer—emotionally and physically—to the CEO, while others are more remote. Within this complex hollow cube, the CEO can no longer hope to issue orders and see them faithfully carried out. Indeed, all he or she can do is to exercise influence and steer this writhing, disparate mass of employees, customers, products and technologies towards the desired vision for the global business. Today, this is what being a global leader really means. The typical 21st-century business leader is a living example of perpetual motion, constantly in transit from office to airport to taxi and hotel and back again. Along the way, leaders gather postcard impressions of the countries and the cultures that they race through. They learn—wrongly—to rely on the most fleeting perceptions about their local managers, employees and markets. Leaders must be present wherever they have customers and employees, but it’s not good enough to just ‘get around’ without ‘looking around.’ They must be present authentically. Done well, leaders can be global without living globally. How can they do this? The leaders of today need to start with a vision, something that wakes them up at dawn with an excitement for ‘what might be.’ Leaders must articulate this vision in a way that engages the global team, and combines their immense energy to create the impossible. The leader must be able to work with the team in every market, to define a robust but flexible strategy. Finally, the leader must steer the strategy through

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Feature: Bigger Bombs and Leadership in the Global ‘Hollow Cube’

A good coach can help leadership soar to global greatness.

first-class execution to achieve the dream. The last mile is the final link between your city’s communications network and your home telephone and Internet devices. The last mile of leadership is the connection that allows the leader in the hollow cube to communicate with the global environment and to listen to what it says. Nobody’s perfect. Sometimes the global business leader needs help in building and maintaining this last mile. Enter the executive coach. A good coach— one who has succeeded in the leadership hot seat and knows how it feels, and who has learnt from mistakes and desires to help executives become great leaders—can help leadership soar to global greatness.

The coach stretches the imagination to dream the impossible and connect disparate things. The coach burnishes communication skills, so that leaders articulate the vision in a clear, compelling way. The coach amplifies leaders’ hearing, so that they truly listen to the signals of threat and opportunity that come from the world around them. Coach and leader together build the last mile for excellent global leadership in a way that does not demand the leader to be everywhere at once. Leader and leadership coach—working together for global business excellence!

About the Author Iain Martin is Chairman of I.J. Martin & Co Pte Ltd, Executive Coaches for Global Business Leaders. He has a new book due in October called Looking Down on Leaders – A Bird’s Eye View of Business and Bosses. For further information, please go to www.ijmartin.com

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Mindfulness in Schools By Peter Derby-Crook Educational institutions have to do more than feed the minds of their charges; they also have a responsibility to proactively monitor and support their students so that they are prepared to face the stresses of modern societies.

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he concept of nurturing mindfulness to enhance the wellbeing of a school community is an interesting one. There is a growing acknowledgement by schools that we need to help our young people develop conscious strategies that will help them cope with all that modern society throws at them during their lives. Modern life, with its incessant intensity, stresses and strains, can be quite overpowering for individuals. For some, these pressures can sometimes render them incapable of thriving. Surviving, rather than thriving, becomes the default position, and

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the ability to enjoy life, to be content and happy, becomes compromised. Schools have a responsibility to recognise this as an issue in today’s society, and to equip students to deal with it effectively, both at school and beyond.

more serious, with the child potentially becoming more introverted and isolated from even their closest friends and family. It is important that schools are conscious of these circumstances through effective monitoring and support systems.

When these pressures are at their most intense, it is vital that there are avenues of rescue and support for students. The vast majority of children naturally recover their own balance. However, there are inevitably circumstances where their support systems, for complex reasons, just do not work. The issue then becomes

The practice of mindfulness as a school and individual strategy is preventative rather than reactive. Schools need to develop measures that will enable the individual to raise his or her awareness not only of possible pitfalls, but also how to avoid them. Encouraging students to focus on the present moment, to slow

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down and be more at ease in their lives, is a key step in being able to manage stress and anxiety, as well as paving the way to life’s joys and pleasures. The words ‘joy’ and ‘joyous’ may sound like old-fashioned terms. However, a lack of joy is a very contemporary complaint. There are some schools where the apparent ‘lack of joy’ has prompted them to timetable ‘happiness’ as a subject! It would be easy for us to scoff and to wonder ‘what on earth are we coming to if we have to schedule happiness?’ But what we are dealing with is today’s society and the effect it has on our children, not the conditions and culture of our upbringing.

About the Author Peter Derby-Crook has been a school leader for about 30 years, and has Headship experience in the UK, Dubai, Oman, Tokyo and Jakarta. Presently the CEO of Tanglin Trust School,

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Feature: Mindfulness in Schools

The world our children are growing up in is very different from ours, and the world we are preparing them for will be different, too. We can’t predict what that world will look like exactly, but there are no immediate signs that modern society is going to make life easier. In fact, many of the innovations that come along seem to make things worse—the Internet, smartphones and other modern gadgets, while improving convenience, appear to also increase emotional stress.

potential joy and happiness of future generations. While rooted in a sense of spirituality, there is no need for there to be anything inherently religious about ‘mindfulness.’ In fact, it should be independent of religious or cultural connotation. Mindfulness is becoming increasingly accepted by thought leaders around the world as an essential tool to enable individuals to achieve greater balance and coherence in today’s highpaced, multi-tasking world.

Where better to address these problems than in school? Schools have a captive audience and access to formative years, and must do more to influence the

Schools cannot remove the potential stresses from students’ lives, but we can and should equip the students to deal with stress more effectively.

Singapore, he is also a lead accreditor for the Council of International Schools, and is a highly sought-after speaker at educational conferences such as HMC UK.

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When Business Models Go Wrong Most business models look rock solid until they are implemented in the real world. Once buffeted by exogenous and endogenous forces, these flawed business models can cripple or significantly affect a company negatively.

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very business starts with a business model. If not executed well, these models will fail. Business parks and cyberspace are littered with companies that shut down within a few years, or hobble along without covering initial investments. The carnage includes not just small businesses, but also efforts backed by serious money. In 2012, Harvard Business School senior lecturer Shikhar Ghosh looked at more than 2,000 start-ups in the USA that received at least $1 million in venture capital funds and found that about three-quarters failed to cover initial investments, while about onethird shut down entirely. But even business models that have been stunningly successful can collapse. In their 2001 book, Creative Destruction, Richard Foster and Sarah Kaplan reported that, of the companies listed in the original 1957 S&P 500, only 74 were still on the list 40 years later, and the majority of these had underperformed over the course of those four

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decades. In his blog, Carpe Diem, University of Michigan economics professor Mark Perry noted that, of the Fortune 500 companies in 1955, only 67 were still on list in 2011. “Almost 87% of the companies have either gone bankrupt, merged, gone private, or still exist but have fallen from the top Fortune 500 companies,” he wrote. While strategies that misfire can cripple companies, the culprit is often the business model. How do business models, especially those with some track record, run afoul?

May the five forces be with you

Business management expert Michael Porter’s Five Forces analysis offers some clues. In late 1979, Porter, then an associate professor at Harvard Business School, described five factors that weigh upon a company’s performance. While some modern critics suggest that the framework is too simple for today’s complex web of industry relations, the Five Forces analysis remains an essential tool for understanding how companies prosper or

whither. The intensity of these forces varies across industries, but they are all present when a company is founded, and change constantly over the years. A business model that overlooks or takes for granted any one force could face severe challenges. Groupon, an Internet wonder that went public in November 2011, was brought to its knees after being buffeted from all sides by these forces. Founded in Chicago in 2008, it offered daily deals for products or services that were valid only if a minimum number of coupons for the deal were sold. Groupon took half the purchase price as a commission, with the remainder going to the merchant. Within two years, Groupon had spread globally, and boasted millions of registered users. Groupon rejected a $6 billion buyout bid by Google in 2010. A year later, the company went public with a debut price of $20 a share. Immediately, the share price jumped briefly to more than $31. Then the bottom fell out. A year after the

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Feature: When Business Models Go Wrong

IPO, company shares were trading at about 13% their debut price. In February 2013, co-founder Andrew Mason was ousted, leaving behind one of the most-quoted chief executive goodbye notes: “After four-and-ahalf intense and wonderful years as CEO of Groupon, I’ve decided that I’d like to spend more time with my family. Just kidding—I was fired today. If you’re wondering why, you haven’t been paying attention.” Analysts pointed out several problems with Groupon’s business model. Customers had little incentive to be loyal to merchants offering coupons; most were satisfied with one-off discounts. Merchants received little benefit from their discounted offers because revenues were shared with Groupon and sales didn’t necessarily bring repeat business at full prices. Finally, the model was easily copied, leading to dozens of imitators. At least three of Porter’s five factors were working against Groupon. Even ahead of the IPO, some analysts sounded a warning, but few were listening. “Groupon is a disaster… It’s a shill that’s going to be exposed pretty soon,” Forrester Research analyst Sucharita Mulpuru was quoted by Associated Press.

History is no guarantee

Companies with much longer history than Groupon can find their business models outdated and unable to generate profit if they aren’t continually vigilant to market changes. Consider Eastman Kodak. After being in existence for more than a century, the photography company filed for bankruptcy protection in 2012, hobbled by the advent of digital photography, which it ironically pioneered. Kodak was founded in 1888; by the late 1970s, the company was supplying 90% of the photographic film sold in the USA and 85% of the cameras. Innovation had always been a priority for the company; indeed, the digital camera was invented by a Kodak engineer in 1975. But in its last decades, the company could not turn ideas into cash, and was eventually overcome as film and snapshot cameras became obsolete. More than anything, the company was afraid to risk its highly profitable film business by embracing the new age of digital photography, a former R&D leader at Kodak, David Glocker, told the Wharton School of

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Business. He explained, “I believe the single biggest mistake that Kodak made for two decades or more was the fear of introducing technologies that would disrupt the film business. There were excellent scientists and engineers who generated some of the world’s leading innovations. The company, however, was almost never willing to risk the high film margins by introducing them. The irony is that many such innovations—CCD arrays, digital X-rays, etc—eventually did Kodak in.”

relic of a bygone age,” he wrote. “It has big stores with tightly packed aisles of seemingly randomly merchandised, cheap-priced goods. No clear sense of what the store stocks or why. It is a soulless experience reflected in a naïve brand identity and bland interior design that have clearly not been invested in for decades. Woolworths hasn’t changed in over 20 years, and it shows, and this is why it has failed.”

The 2008 collapse of British retailing giant Woolworths Group is widely seen as collateral damage from the global financial crisis. Almost 100 years old, it was a victim of an exogenous disruption that was, for the most part, outside its control. But why weren’t other retailers affected? “Woolworths’ collapse was one of the defining events of the credit crisis,” The Telegraph reported in 2009. “But questions have been asked about whether Woolworths’ failure can purely be put down to a brutal recession.” Jim Prior, CEO of London branding consultancy The Partners, concluded that Woolworths’ failure to keep up to date with its rivals on High Street and elsewhere played a critical role in the company’s downfall. Despite the national anguish over its closing, Woolworths was “a

How are problems that seem so obvious in hindsight missed by executives in the thick of battle? For an ongoing business, a key failure is an inability to recognise or react to changes that impact a company’s business model and shifts in the five forces. Writing for The Guardian, Saul Kaplan, author of The Business Model Innovation Factory, recently suggested 10 reasons why companies can be blindsided:

10 key faults

Leaders focus on performance improvements rather than real change. • The urgency of the challenge is often underestimated. •

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Conclusion

Companies must continuously review their business model to ensure they remain relevant for the current and foreseeable business environment, and make the necessary adjustments. “Even the best business models eventually become obsolete,” management consultancy Deloitte wrote in a recent report. “Yet we have found that companies are often reluctant to tinker with something so crucial to their business—particularly if it has served them well in the past.” The market environment is changing faster today than ever before, and it’s likely to change even faster tomorrow. From Day One, business models are buffeted by these changes; more often than not, the winds are blowing against a model’s success. Changes in customer attitudes, shifting supply chains, moves by competitors, new products and services, and new entrants can all impact the value generated by any business model. The value of a model erodes slowly, sometimes almost imperceptibly, until it’s too late. At other times, the ground shifts quickly beneath a company.

Services that support the product can be neglected. Information technology is about keeping the trains moving and lowering costs: Legacy IT systems may be favoured over more productive technologies. Cannibalisation is off the table: Leaders may fear harming current businesses even if new offerings have substantial potential. Nowhere near enough connecting with unusual suspects: Insular attitudes can keep executives isolated from new trends and ideas. Line executives hold your pay card: Attracting capable managers to a new project can be difficult if bosses linked to the old model control their career. Great idea, what’s the ROI? New models often require new ways of

About the Author The Chartered Institute of Management Accountants, founded in 1919, is the world’s leading and largest professional body of Management Accountants, with over

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203,000 members and students operating in 173 countries, working at the heart of business. CIMA has formed a joint venture with the American Institute of CPAs (AICPA) to establish the Chartered

analysing ROI that could be contrary to the current model. • They shoot business model innovators, don’t they? New models and their supporters are often disruptive and face significant inertia. • You want to experiment in the real world... are you crazy? Stepping from white board to launch takes courage. Management accountants are uniquely positioned to watch for fault lines. Combining financial expertise with critical capabilities in risk management, they can sound an early warning when forces essential to a company’s success— arrival of new entrants, changes in customer or supplier behaviours, etc— begin to work against the company’s best interests. By remaining vigilant, management accountants can lead a company away from the abyss.

A survey of more than 4,000 senior executives globally by The Economist Intelligence Unit underscored the importance top managers gave to business models that adapt to changing environments. In the 2005 survey, about 55% of the respondents said they expected new business models to be a greater source of competitive advantage through 2010 than new products or services. The report said, “The rising importance of business models is a logical reaction to too many choices in the market. For consumers and companies alike, it’s getting harder to distinguish between many products and services on a purely functional basis. By 2010, companies in many sectors will distinguish themselves by innovative business models— be they new pricing models, a shift to selling products as services or another model that will differentiate their offering from those of global competitors.”

Global Management Accountant (CGMA) designation. CGMA is the global quality standard that further elevates the profession of management accounting.

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Feature

How to get Societal and Economic Value Out of Technological Innovation? By Adirupa Sengupta Generating societal value from technical innovation is not easy, and requires leaders with cultural quotient (CQ). International leadership development organisation Common Purpose identifies four essential steps to make innovation happen. A global challenge

The ever-increasing economic benefits of technological innovation are reflected in the expansion of Research and Development budgets across the private and public sectors. Also growing is the sense that global organisations must take responsibility for the society in which they operate by finding returns on this investment beyond the purely financial. The challenge of generating societal value from technological innovation itself demands innovative solutions. Yet innovation is not easy to foster; hence, the large budgets. This challenge also transcends national boundaries, needing leaders with Cultural Intelligence—or CQ—to find those solutions. CQ is the ability to connect across cultures. Leaders with CQ are excited—not alarmed— by different cultures. More than that, they enjoy difference. They embrace it, trust it, and thrive on it. International leadership development organisation Common Purpose has used

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the concept of CQ to identify four essential ingredients for making innovation happen: 1. Identify the right complex and compelling challenge to address, one that is big enough to be worth the effort, and small enough to be relevant. 2. Bring together people from very different backgrounds, sectors, angles and approaches. 3. Take this group into their city or another to see both the problems and the possible solutions in practice. 4. Build a climate in which this mix of people and experiences becomes creative, exciting and productive.

Students as a source of innovation

Universities are a major source of innovation. In 2009, 3.7 million students studied outside their home country. By 2020, forecasts suggest that number will rise to between seven and eight million. So the opportunity to bring together culturally diverse groups of these talented young leaders who are gathering in major global cities and take

them through this process cannot be ignored. This is why students from across the Commonwealth studying in Singapore were brought together in September to explore the challenge outlined in this article. Representing the National University of Singapore, Nanyang Technological University, Singapore Management University, James Cook University and Nottingham University Malaysia, the students were taking part in CSCLeaders for Students, a leadership development conference for Commonwealth students. Delivered by Common Purpose in cities in which large numbers of Commonwealth students are studying, it has been brought to Singapore for the first time, thanks to sponsorship by BP. The students visited and heard from senior Singaporean leaders, who shared their insights into what the challenge looks like in their organisations and industries. These included PwC, Golden Gate Ventures, Accenture, LTA, British

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Chamber of Commerce, AIESEC, Rothschild and BP.

Innovative and practical solutions

In just four days, they were able to develop a series of innovative and— crucially—practical ideas for tackling the challenge. Several of these ideas focused on the key issues of an ageing population and healthcare, both hot topics in Singapore today: • A 24-hour healthcare service for the elderly that connects them to hospitals and doctors via their own personalised handset • Anti-slip shoe technology and tactile feedback insoles to reduce injuries suffered by the elderly through falls • A smart watch designed to ensure that

About the Author Born in India, Adirupa Sengupta is the CEO of Common Purpose Asia-Pacific. She was previously CEO of Common Purpose UK. Common Purpose is an independent, international social

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• • • • •

the wearer takes his medication via video messages from their family An app to improve health clinic experience through a booking system and queue optimisation A one-stop online portal for specialist medical services. A personal item GPS tracking service to reduce the stress and anxiety of losing valuables An app to shorten queuing times at restaurants through an availability and reservation functionality A website to match companies looking to donate money and resources to NGO’s through a matching algorithm that manages needs and resources.

Their findings will be passed on to

enterprise dedicated to leadership development.

subsequent CSCLeaders for Students conferences, which are due to take place in London, Mumbai, Trinidad and Boston in early 2014, before being presented to senior leaders from across the Commonwealth during the CSCLeaders senior leaders programme in the UK in March 2014. These senior leaders will be invited to mentor the students as they try to turn these prototype ideas into reality.

Tomorrow’s Commonwealth

Students are the future leaders of the Commonwealth. By developing their leadership skills and cultural intelligence now, they will be better able to produce the innovation that an increasingly globalised world demands.

Research in International Economic Relations in New Delhi.

Prior to Common Purpose, she worked as a Consultant with the Morgan Chase Group in the City of London, and a Consultant to the Indian Council for

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Feature

Buoyant Employment Market Spurs Employees into Action By Jerome Bouin A recent survey of 1,500 employees in Singapore offers intriguing clues as to how that job market may respond in the coming year.

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usiness activity in Singapore remains positive, and is expected to continue to stabilise as international organisations establish their regional hubs in the country. This is creating demand for talent across a variety of professional sectors, and many employees are anticipated to take advantage of the growing number of job opportunities in the first half of 2014. According to the 1,500 employees surveyed in 2013/14, 36% of respondents believe the current domestic job market is good, and 37% describe it as average. Furthermore, 39% of surveyed employees say the job market will remain stable in the first half of

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2014, while 38% believe it will improve. As the volume of job opportunities is expected to increase, 44% of respondents indicate that they are very likely to look for another role during this period, while 23% are quite likely to do the same. However, despite the expectation that the professional recruitment market in Singapore will be healthy in the coming year, more than half of all surveyed employees (55%) say they will look for work overseas. This is most likely as more professionals seek overseas experience to broaden their skill set and improve their marketability. Almost half of surveyed employees (47%) looking for

an international role will search for work in Asia. Some 22% of these respondents selected China as their desired destination, most likely as the demand for talented professionals there remains strong. In anticipation of staff turnover in Singapore’s professional sector during the first half of 2014, employers should have strong talent attraction and retention strategies that include a blend of financial and non-financial incentives. Offering monetary incentives to professionals is a particularly important talent management strategy to implement as the cost of living rises in Singapore. It is even

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more pertinent, considering that 38% of surveyed employees have some concerns around salary levels meeting living costs in the first half of 2014. For 22% of surveyed respondents, an increase in salary is the most important factor for accepting a new role, and some 31% of respondents will move to another employer should their salary increase by 10-12%. Similarly, 25% of respondents say financial reward based on performance is the main motivating factor for remaining in their current role. Furthermore, 57% of respondents are likely to ask their present employer for a salary increase in the coming year, while 34% of

The statistics and data are taken from the Michael Page Singapore Employee Intentions Report. To read the 2013/14 Employee Intentions Report in full, visit the Michael Page Singapore News & Research Centre. As part of PageGroup, Michael Page is a leading professional

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these employees also desire a rise of 10-12% on their current salary. Surveyed employees also opted for financial reward in terms of benefits offered by employers. Almost one-third (32%) of respondents selected transport allowance as the most desired benefit they are not currently being offered. A bonus was second on the list; ranked the most preferred benefit by 31% of surveyed employees. Non-financial incentives are also essential to a successful talent management strategy, as they encourage professional development

recruitment consultancy specialising in the recruitment of permanent, contract and temporary positions on behalf of the world’s top employers. The Group operates through 156 offices in 34 countries worldwide. First established in London in 1976, we’ve

and engage staff. As for work-life balance, the majority of surveyed employees (78%) would like to have flexible working arrangements, followed by additional leave options (44%) and extended leave (37%). Scope for career progression is the second most important factor sought in a new role, following on from an increase in salary that 20% of surveyed employees preferred. Other benefits surveyed employees are interested in receiving from their employers are gym memberships (26%), dental cover (23%), medical cover (22%), festive allowance (22%), and meals allowance (21%).

been bringing job seekers and employers together for more than 30 years. Our presence in the Asia Pacific region extends across Singapore, China, Taiwan, Thailand, Hong Kong, Japan, India, Malaysia, Australia and New Zealand.

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Advertorial

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Committed to Excellence T

he Australian International School (AIS) is the only international school in Singapore for students aged three to 18 that operates a southern hemisphere school year, providing a seamless transition for our students as they enter and leave Singapore. AIS is committed to excellence in education, and offers a combination of robust Australian and International curriculum pathways to ensure our students reach their potential and have the tools to pursue the limitless options that await them after graduation. We teach the Australian curriculum within an IB PYP framework from Prep to Year 5, and exclusively from Years 6 to 8. This gives our students the opportunity to learn within a globally focused teaching framework that is unique to AIS. In Years 9 and 10, we offer the academically

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rigorous IGCSE to ensure sufficient preparation for success in Years 11 and 12, where we offer two pathways: the IB Diploma Programme and the NSW High School Certificate. Students have the option to choose the appropriate path, depending on their tertiary aspirations—our 2012 Year 12 IB DP cohort scored over four points higher than the global average, and had an average ATAR score of over 92. Unsurprisingly, AIS Students are academically in the high ability range, and experience superior average growth compared to the best performing Australian state or territory—the ACT. This, combined with daily Mandarin lessons, a one-to-one IT device initiative from Prep to Year 12, and a dedicated professional learning centre to develop teachers of the highest calibre, ensures that our students are in the best environment to exceed our expectations and their own.

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Year 8 at Australian International School Amelia and Max developing a Shakespeare podcast for their next Australian Curriculum English assessment.

self expression academic excellence Globally focused learning, their way We teach the Australian Curriculum from Prep to Year 8, giving our students the opportunity to learn within a globally focused teaching framework which is unique to AIS. With our support, our students’ potential is limitless.

EXPRESS YOURSELF admissions@ais.com.sg | +65 6517 0247 | www.ais.com.sg Australian International School Pte Ltd is registered by the Council for Private Education. CPE Registration Number 199204405H. Period of Registration 6 July 2011 to 5 July 2015.

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Globally focused, distinctly Australian AIS is part of the Cognita Group of Schools www.cognitaschools.com

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Advertorial

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Unseen Danger:

The Business Risks in Third-Party Relationships

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Advertorial

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but does not work well in practice. Also, Singaporean corporations are more naive in their approach to anti-fraud and corruption practices in comparison to the Asia-Pacific average, the survey found.

Unfortunately, partnering with the wrong organisation can sometimes do irreparable harm. Companies have discovered, often too late, that being tied to an unethical or even fraudulent partner can drastically affect their own reputation—not to mention their business operations, finances and legal liability.

The risks involved in partnering with outsiders have not changed over the centuries; it is the potential liability that’s been ratcheted up several notches. Technology has improved the way businesses communicate. Easy access to data and information enables the media to report on business news before a business can properly respond, and the markets are quick to form opinions based on a 24/7 ondemand news cycle.

The potential for harm is high on the minds of business owners in Singapore lately, as new studies show there is reason for concern over corruption and fraud risks. According to a recent Ernst & Young survey, 59% of respondents said that their anti-bribery and corruption policy is good in principle,

“The result of this increased liability is problematic,” said Zafar I. Anjum, CEO of Corporate Research Investigations (CRI Group). “Business litigation has skyrocketed, corporate reputations are constantly being assaulted, and business strategies are forever shifting. Board members are

n today’s international business world, most organisations maintain relationships with third-parties on many different levels. Such partnerships, when conducted with carefully selected contractors, suppliers, consultants and other entities, can often help an organisation meet its goals in an effective way.

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becoming increasingly subjected to intense scrutiny from outside critics. And a highly educated market responds immediately with their pocketbooks.”

3PRM: A Third-Party Risk Management Strategy

At CRI Group, Anjum and his team have developed the exclusive 3PRM—“ThirdParty Risk Management Strategy™”—in order to help organisations mitigate such third-party risks. CRI Group’s experts work to help protect clients from liability issues, brand damage and harm to business. The key to 3PRM’s effectiveness lies with CRI Group’s investigators, who use all means necessary to establish the legal compliance, financial viability, and integrity levels of those outside partners, suppliers, customers and other sources worldwide that are considered potential partners for doing business.

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The 3PRM strategy includes a focus on the following: • Providing third-party risk assessments • Meeting contracting requirements • Conducting due diligence • Providing management oversight With a network of trained professionals positioned across five continents, CRI Group’s 3PRM services utilise one of the largest multi-national fraud investigation teams the industry has to offer. “The 3PRM strategy is especially critical when a business is performing pre-merger and acquisition research and pre-IPO due diligence, engages new clients, employs, contracts or retains foreign business partners,” Anjum said. “It should also be utilised when an organisation requires a consistent and audit-worthy anti-money laundering and anti-corruption compliance programme.” There is no easy fix for an organisation seeking to repair a damaged reputation. There are no shortcuts for recovering money lost to fraud, or settling lawsuits due to a relationship with the wrong third-party. Being proactive with third-party risk issues and enlisting the top experts to conduct proper due diligence are the best protection any organisation can have.

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Advertorial

Standard Life Celebrates its First Anniversary in Singapore By Neal Armstrong

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tandard Life has gone from strength to strength over the past 12 months since its launch in Singapore last October. As we approach our first anniversary, we have much to celebrate. In our first nine months of trading, we have seen some amazing results, which have helped cement our position as the provider of choice in the defined-market segment of insurers in Singapore. This would not have been possible without our strong and reliable distribution network, and we continue to be encouraged by the interest from both international and local financial adviser groups in partnering us. Across all its operations, Standard Life has a customer-focused approach. We are constantly on the lookout for new and

innovative ways to develop quality service and product offering for clients, seeking to help people better plan for their future. As part of this customer-focused approach, we spearheaded the inaugural Standard Life Singapore ‘Survey for Expatriates,’ which studied the investment habits of one of Standard Life’s target customer segments. From the survey findings, we found out that most expatriate savers have not started saving for their retirement, and are foregoing their long-term security for short-term lifestyle luxuries such as travel. The results of this study, alongside other customer-focused initiatives, have been invaluable in directing us as we get to understand the concerns of the expatriates working in Singapore, and will enable us to

develop product enhancements to fulfil their needs. While the Standard Life business has ambitious targets for the early years in Singapore, we are delighted with the progress that has been made in the first nine months of operations. The next chapter for Standard Life in Singapore will see our team continue to embed the brand and proposition domestically, followed by a strategic expansion of the products that are on offer to ensure that we keep up with our internationally minded customers. By the end of 2014, Standard Life aims to be the preferred unit-linked insurance provider in the long-term savings and investments defined-market segment.

Sta at 3 Sta is a

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When you want to get there faster, aim higher It turned out the fastest way to sail across the ocean, was to fly. At Standard Life we’ve invested time into developing our savings and investment plans to get you where you want to be, quicker. So there’s never been a better time to invest in the future. www.standardlife.sg

Standard Life International Limited (Singapore Branch) is the Singapore branch of Standard Life International Limited and is registered in Singapore (T12FC0118K) at 30 Cecil Street, #26-00 The Prudential Tower, Singapore 049712. Authorised and regulated by the Monetary Authority of Singapore as a direct life insurer. Standard Life International Limited is a company registered in Ireland (number 408507) at 90 St Stephen’s Green, Dublin 2. Standard Life International Limited is authorised and regulated by the Central Bank of Ireland. www.standardlife.sg © 2013 Standard Life, images reproduced under license.

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Advertorial

Inspiring Change-Makers By Andrew Hancock, Academic Dean

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ach year, Stamford students are presented with opportunities and venues to investigate, discover and experience far beyond core academics. In keeping with the vision of providing a holistic learning experience for all students, Stamford’s school camps cover curriculum objectives and learning targets while providing unparalleled opportunities to develop leadership skills, teamwork, problem solving and an appreciation for diversity. Stamford has created an international school camp programme for Grade 10 students in Cambodia working with the World Assistance for Cambodia (WAFC) organisation, as well as PEPY Tours, two non-governmental organisations that have similar philosophies,

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morals and ideals to Stamford’s vision of learning. The Grade 10 Camp Program in Cambodia is part of a five-year joint plan to build a five-room schoolhouse, complete with a library and a nursing station for Melom Village in Kampong Chhnang Province. Over the next five years, Stamford students will have the opportunity to witness the impact that building and staffing a school can have on a village. This is not a ‘volunteer’ programme but a long-term commitment to enhancing the community of this village, giving students the opportunity to experience first-hand the power that education can have in shaping people’s futures.

Students will learn about issues affecting Cambodia today and will be able to draw their own conclusions about the difficulties and opportunities in international development. This learning experience will give our students a chance to reflect on themselves as travellers, change-makers and members of the global community, all while creating potentially life-changing impact for the members of the village itself. True learning is a never ending process that occurs throughout one’s lifespan. By giving students the opportunity to share in these experiences and demonstrate change, it is our goal for them to be able to develop lifelong skills that will serve them well as influential members of our global community.

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At Stamford, I get my own iPad to use for research and completing my homework. We get to use apps in class to reinforce what we’re learning and I can make videos and give multimedia presentations on my iPad. I even teach my parents new things! Stamford is a world-class school with integrated technology for students from 2 years old through High School, offering a 1 to 1 Elementary iPad Program and 1 to 1 Middle School and High School MacBook Programs. Stamford offers daily Mandarin and Spanish and the rigorous IB Program enhanced by American standards.

Open House on Friday, January 10th Register at www.sais.edu.sg

+65 6602 7247

www.sais.edu.sg

Stamford American International School CPE Registration Number: 200823594D Period of Registration: August 10, 2010 to August 9, 2014

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Sounds Like a Plan A new training programme jointly developed by creative agency BBH and the Economic Development Board of Singapore will fill the local advertising industry’s need for strategic planners.

“I

want to own a corner of someone’s mind someday,” says Jeremy Ho, an SMU business management graduate who has chosen to become a strategic planner in the advertising industry. And Ho isn’t waxing lyrical. Once he completes training, it is very likely he will be able to do just that. Ho is one of three candidates who have been granted a place in a unique training programme for planners and brand strategists partnering with creative agency BBH and the Economic Development Board (EDB) of Singapore. Along with two other candidates, Ho will spend three months at the BBH Singapore office before heading off to BBH’s founding office in London for an additional nine months of training.

Where have all our planners gone?

There is a recognisable gap of planners in Singapore as the discipline has always been more predominant and visible within the UK and US advertising industries.

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Take a look at any ad agency in Singapore and you’ll note that Singaporeans dominate all departments except Planning. With no clear-cut path or training, the industry does, in fact, need to actively seek potential planners, often from other disciplines or backgrounds. Frank Reitgassl, Head of Strategy at BBH Asia Pacific, says, “Not enough young people in Singapore aspire to become planners. Those who do struggle to get an opportunity and good training, often having to start in other disciplines, hoping to become a planner later in their career, if someone allows them to. With this collaboration with the EDB, we want to make it enticing to become a planner and offer a good, solid, all-round training from some of the world’s best planners across our offices.”

BBH & EDB International Strategy Scholarship (ISS)

BBH and the EDB launched the International Strategy Scholarship in Singapore, which offers three training places in Brand Strategy and Planning within the field of advertising and marketing.

The ISS programme is an initiative supported by the EDB to build up key manpower capabilities in Singapore’s workforce for emerging sectors and activities through overseas attachment and training with leading companies. Under this programme, candidates will begin their foundational training at BBH Asia Pacific (Singapore) and continue in BBH London over a period of 12 months of applied training and attachment. The grant is open to Singapore citizens and Permanent Residents. While the overarching attraction to the industry seems to remain largely with the flat structure and irreverence of agencies, the challenge of diving deep into research and analysis is what evoked NTU graduate Eileen Ho toward the path of a planner. With a stint as a junior planner at an international agency and brief internship with the Zee Academy in New York, Eileen enjoyed a headstart in the world of planning. The opportunity of further cementing her career in planning at BBH was ideal.

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Advertorial

According to Reitgassl, the three BBH candidates will undergo a comprehensive all-round training programme that equips them with the core skills, tools and rigour a great planner needs in today’s world—with the ultimate aim to find their own, fresh way of thinking. “There is no BBH way or a standard route to train a planner,” Reitgassl insists. “Planners have an ongoing mandate to give clear strategic direction to inspire great communication ideas that create fame and business results for brands. We will expose these candidates to the best in the business and see where it takes them.” In both Singapore and London, all three candidates will understudy and work on ongoing client briefs, exposing them to some of the industry’s most talented planners and exciting local and global brands.

“I love that people in agencies are passionate and candid about their work. With planning, I relish the fact that I can indulge in research and a brand’s identity, [then] fully comprehend the ecosystem that surrounds it,” she says. Singapore has long positioned itself as a regional hub for trade, commerce and finance. But as more global brands enter and seek to grow their business in this highly competitive region, there is an increasing demand for Singapore to be the leading centre of communication excellence for Asia. Never has there been a more important time for agencies to offer strategic and effective counsel to clients and their businesses.

BBH Asia opened its doors in Singapore sixteen years ago and has since built itself a reputation for producing some of the region’s most creatively impactful and effective work. Iconic campaigns from BBH Asia Pacific include ; The notorious

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Kelvin Wong, Executive Director at the EDB, says the programme will equip the candidates with valuable international exposure and mentorship, and help Singapore develop top strategic talent. “Having world class strategic planning is the key to Singapore’s position as the leading Asian hub for marketing and communication activities. In our increasingly digital, fastpaced and data-rich environment, ideas and strategies based on sharp insights will be a key differentiator in this business. EDB’s collaboration with BBH, an agency well known for its creativity and planning excellence, will provide these candidates with a solid foundation in research and brand strategy.”

but effective Mentos National Night music video that made the cover of Wall Street Journal, the first ever virtual - meets - physical football game that launched the NIKE Hypervenom football boot ; and the makeover of one of Singapore’s grand old dames – NTUC

For Kee Yah Tan, the timing of the training programme could not be more opportune. After graduating in Business Administration from the National University of Singapore, Tan spent two years working in marketing for beverage company Asia Pacific Breweries in Shanghai. He returned to Singapore with what he calls a newfound appreciation for the industry, and for brand strategy in particular. Tan considers this scholarship and the chance to work in the UK an opportunity that was hard to pass up. “I know I’m going to be challenged in one of the world’s most seminal agencies, and I expect to be made uncomfortable,” Tan reveals. A good place to start for a future planner.

Income – a local insurance coop that was given a bold new identity whilst honouring its roots with the ‘Made Different’ campaign.

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UK Trade & Investment

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Business and Human Rights By Judi Leon

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n 4 September, the UK launched its action plan on business and human rights, becoming the first country in the world to set out guidance to companies on integrating human rights into their operations. Why has the UK done this, and what does it mean for UK companies operating overseas?

Why has the UK taken action?

The UK Government strongly believes that entrepreneurship, industry and trade are key to the UK’s economic success. It also recognises that the UK needs to do business

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with many countries whose human rights record is deficient. As Foreign Secretary William Hague said at the launch of the action plan: “Doing business with respect for human rights matters. It’s good for people, for prosperity and for the UK. We believe firmly that the promotion of business and respect for human rights should go hand-in-hand. That’s why the UK is showing leadership in helping companies to understand it and pushing other states to follow suit. We now call on business to work with us to

implement the action plan and I hope other countries across the world will follow our lead.” In response to the UN Human Rights Council’s endorsement of the UN Guiding Principles on Business and Human Rights in June 2011, and British companies’ calls for a clear Government position, the UK Action Plan has been drawn up in consultation with business and civil society. This sets out the Government’s position on business and human rights and its expectation that UK companies will

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UK Trade & Investment

UK Foreign Secretary William Hague speaking at the launch of the action plan on business and human rights in London on 4 September 2013

operate with respect for the human rights of those affected by their operations, whether in the UK or overseas. There are of course UK companies already ahead of the curve on integrating human rights considerations into their business operations, including some operating in this region. They see the business case for respect for human rights and the many business benefits this approach can bring. These include helping to protect and enhance a company’s reputation and brand value, and appealing to investors and to the company’s customer base. At a higher level, the stronger the thread of safeguards running through society that are good for human rights— democratic freedoms, good governance, the rule of law, property rights, civil society—the better are the conditions for long-term, private sector led market growth which is good for jobs and for development.

What are the UN Guiding Principles on Business and Human Rights?

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The Guiding Principles (UNGPs) are also known as the ‘Protect, Respect and Remedy Framework’ for the three pillars they comprise: • The State duty to protect against human rights abuses by third parties, including business; • The corporate responsibility to respect human rights of others; and • The need for access by victims to effective remedies, judicial and nonjudicial. The UK Government’s action plan goes wider than the Guiding Principles and has attracted interest from other countries. The EU has called on all member states to develop plans by the end of 2013 and others eg Switzerland, Norway are working on theirs.

What does the UK action plan commit the UK Government to do? • Implement UK Government obligations to protect against human rights abuse within UK jurisdiction involving business enterprises; support UK businesses to

>

>

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• •

On 12 November 2013, the UK was elected to the UN Human Rights Council for the term January 2014 December 2016.

meet their responsibility to respect human rights throughout their operations both at home and abroad Support access to effective remedy for victims of human rights abuse involving business enterprises within UK jurisdiction Promote understanding of how addressing human rights risks and impacts can help build business success Promote international adherence to the UN Guiding Principles on Business and Human Rights, including for States to assume fully their duties to protect human rights and assure remedy within their jurisdiction, and Ensure policy consistency across the UK Government on the UNGPs.

What does the UK Government expect businesses to do?

• Comply with all applicable laws and respect internationally recognised human rights, wherever they operate • Seek ways to honour the principles

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>

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of internationally recognised human rights when faced with conflicting requirements Treat as a legal compliance issue the risk of causing or contributing to gross human rights abuses wherever they operate Adopt appropriate due diligence policies to identify, prevent and mitigate human rights risks, and commit to monitoring and evaluating implementation; Consult people who may potentially be affected at all stages of project design and implementation, for example taking into account language and other potential barriers to effective engagement Emphasise the importance of behaviour in line with the UN Guiding Principles to their supply chains in the UK and overseas Adopt or participate in effective grievance mechanisms which are transparent, equitable and predictable, and

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FCO Minister Hugo Swire speaking at the Wilton Park Conference on 10 October 2013 on the need for government, civil society and business to work together to eradicate human trafficking.

• Be transparent about policies, activities and impacts, and report on human rights issues and risks as appropriate as part of their annual reports.

What help is available?

• Further information can be found at www.gov.uk/government/news/ uk-first-to-launch-action-plan-onbusiness-and-human-rights • Any issues should be raised with the British Embassy or High Commission in the relevant country. For example, if you experience problems in implementing respect for human rights because local law is incompatible with international human rights law and you want your concerns raised with the authorities • The Sustainability and Responsibility Committee at the British Chamber plans to hold activities to promote this approach and invite discussion among interested members.

About the Author Judi Leon Deputy Director Trade & Investment UK Trade & Investment, Singapore

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Britain in South East Asia News

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BiSEA News Britain Brunei Business Forum

October started with a reception for BBBF members to welcome the newly accredited British High Commissioner, David Campbell. David was previously in Taipei, but has also worked in Manila and Singapore. With the ASEAN and related Summits successfully held in October, the Brunei government is now getting back to normal. The Sultan launched the Syariah Penal Code in late October, but how it will operate alongside the current Criminal Law when implemented from April 2014 is not yet clear.

British Business Group Vietnam

We have made significant progress in our intention to provide commercial advice and support to UK businesses under UK Government’s Overseas Business Network Initiative. We have appointed Mr Wai Kit Ho as our Business Director to oversee the successful delivery of a new Business Centre. Once established, this centre will o er services such as tailor-made market reports, visit programmes, identify potential partners, and other professional services. To discuss this initiative, please contact: wai.ho@bbgv.com. We are hosting our annual Christmas Dinner Party and Dance with the theme ‘All You Need is Love’ on December 6 in Ho Chi Minh City. Please visit www.bbgv.org for more information.

British Malaysian Chamber of Commerce

On December 6, 2013, the British Malaysian Chamber of Commerce (BMCC) hosted its Annual Corporate Christmas Luncheon, a popular event that was attended by more than 480 corporate members. The BMCC has also been keeping abreast of the developments from the World Islamic Economic Forum, held from October 29–31 in London, and provided members with a platform that allows them to engage with ongoing business opportunities in the United Kingdom. Most recently, the BMCC invited the Lord Mayor of the City of London, Alderman Roger Gi ord, to give the keynote address in one of its Premier Luncheons. He addressed Kuala Lumpur’s business community, and encouraged the double trade initiative between the UK and Malaysia.

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At the Chamber

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BritCham New Members Sterling

Corporate SME

Newcastle University Ehsan Mesbahi

C Maclean & Associates Pte Ltd Kerry Allen Gateway Worldwide Group Philip Galloway

Corporate Plus Ingram Micro Asia Pacific Pte Ltd Steve Paine

Stanley Gibbons (SEA) Pte Ltd John Fairs URS Consulting (Singapore) Pte Ltd Robert Hennessy

SCS Global Group Barbara Kang

Corporate Overseas Corporate Representative (Voting) DLA Piper Singapore Pte. Ltd John Goulios

Grant Property Investment Peter Grant Scotland Made Easy Marie Cruickshank

PA Consulting Group Pte Ltd Paul Mclean PARKROYAL on Pickering Lee Kin Seng Simmons & Simmons Damian Adams

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At the Chamber: Business Group News

Creative Industries Group Chairperson: Frazer Macdonald Hay —Programme Director, Glasgow School of Art Singapore

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umanity is experiencing an extraordinary burst of evolutionary changes, driven by good old fashion Darwinian natural selection. But it is selection among ideas, not among genes. R. Dawkins The Media & Marketing Business Group has an opportunity to evolve and diversify under the guidance of Frazer Macdonald Hay from GSA (Glasgow School of Art). The new ‘Creative Industries Group’ is to develop the strong existing core membership, open the group’s membership to a wide variety of creative industries, professions which are related, relevant and reflective of current creative practice and its cross disciplinary nature. The group will provide a platform from which to share talent, innovation, research and methodology with a wider variety of

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creative and liberal arts disciplines, such as film, photography, marketing, media, art, architecture, design and the humanities. In today’s business environment, where idea generation and problem solving skills are critical in a competitive global market, it is important to stay current, versatile and curious. It is imperative to develop connections and explore collaborations. A new, stimulating and diverse Creative Industries Group, developed within the British Chamber of Commerce and reflective of business aspirations, would engage with the wide-ranging, complex business demographics of Singapore and beyond. The group will strive to create a useful dynamic from which to underpin and facilitate new expressions of innovative, competitive and contemporary practice.

“To create is to recombine.” Molecular biologist Francois Jacob said. Creative Industries Group is in its initial stages. The group has formed a cross-disciplinary committee, and will develop long- and short-term goals, establish a productive strategy, promote collaboration systems, enhance communication methods, encourage research activities, identify members’ requirements and arrange events. This process is a fluid and evolving condition that relies on the entire group’s valuable input and expertise. This is an exciting opportunity to develop an active and authentic tool to enhance our productivity and potential. Do join us or contact Chamber office if you wish to learn more.

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Property & Construction Group Chairperson: Richard Warburton —EC Harris Singapore Pte Ltd

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ith the global construction market forecast to grow by more than 70% by 2025, we will continue to see construction projects growing in complexity, both technically and commercially, involving many parties in an extensive supply chain. While all parties want to avoid disputes, there will be conflicts in priorities and, as such, they are inevitable. The parties’ original intentions and desires may not be clear and may also change throughout the lifetime of any project. Many parties want to resolve their disputes, wherever possible, without resorting to costly and damaging litigation. Alternative dispute resolution (ADR) provides some relief for parties by introducing techniques such as mediation, adjudication and arbitration.

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The international ADR market has seen rapid growth, with centres of excellence developing all around the globe. The international dispute resolution market is competitive, with international centres competing to be the preferred choice. International dispute resolution raises the profile for the country concerned by demonstrating a transparent, independent and efficient legal system that produces consistent and, more importantly for the parties, internationally enforceable awards. Singapore is one such location. The centre comprises the Singapore International Arbitration Centre (SIAC) and Singapore Mediation Centre (SMC). What Singapore has to Offer The SIAC presents a compelling set of credentials in staking its claim to be one of the world’s leading arbitration centres,

including its position as an independent and neutral third-country venue, ranked No. 5 in the world for neutrality in the Corruption Perceptions Index, an open economy and international business environment, excellent legal and technological expertise, and offering a central and easily accessible location in SouthEast Asia. Singapore’s Mediation Centre is internationally recognised and plays a key part in parties’ attempts to resolve disputes prior to entering into more formal processes. Clearly, Singapore has already positioned itself as one of the leading centres for international and domestic dispute resolution, and continues to invest and develop to further advance its international standing.

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At the Chamber: Business Group News

Professional Services Group Chairperson: Martin Riddett —Country Head, Faith + Gould

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side from our regular articles in Orient, the Professional Services Group (PSG) has looked to LinkedIn to communicate and network with our expanding membership.

The bulk of the group are already members of the Chamber, and we look forward to the others joining on a local or overseas membership, if they are not based in Singapore.

Our target to build our PSG LinkedIn Group to 150 members this year was exceeded by around 50% in the third quarter, but this is not just a numbers game.

The Group reached a milestone recently with the addition of none other than LinkedIn’s Head of Global Accounts and Relationship Management South East Asia, Simon Kelly.

Simon was the guest speaker at our latest networking night in the Crown and Anchor in September. Along with free flow of steak pies and drinks, attendees had the opportunity to question Simon about how best to manage their LinkedIn membership. There were so many people who wanted to engage Simon that question time had to be curtailed so that guests could enjoy the food and drink. Although Simon handles an exceptionally high volume of enquiries regularly on LinkedIn, he has kindly offered to assist fellow members of the group, who can contact him directly via LinkedIn. He looks forward to engaging with group members on an ongoing basis. He has also suggested several links with top tips on how to build your LinkedIn profile. 1. For top tips on how to build up your LinkedIn profile, go to http://learn.linkedin.com/profiles 2. For free training, go to http://learn.linkedin.com/training 3. For access to the general helpdesk, go to https://help.linkedin.com/app/home 4. For the latest product updates, go to http://blog.linkedin.com/ 5. To access your InMap and see a picture of your network, go to http://inmaps.linkedinlabs.com (You need 50 connections and 75% of your profile completed to access your InMap.) 6. For top tips on how to use the Recruiter Licenses, go to http://training.linkedin.com/

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Young British Chamber Chairperson: Miles Gooseman —Consultant, The Fry Group

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n today’s world, networking— surrounding yourself with the right people—is integral to being successful and a high achiever. The YBC strives to make this happen. But who are the ‘right people’ and how can this be done? First, you must surround yourself with a diverse portfolio of contacts. The best way to be good at what you do is to be content with you who are. As you spend time with different contacts and groups, what is important to you may change. You will begin to understand different perspectives and values, in turn making you a more rounded, happier and successful person. Second, positive energy breeds success. If you surround yourself with individuals who are happy, generous, giving, enthusiastic

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and positive, you will be too. Negative people constantly take energy while positive people give energy. Third, talk to successful, powerful people, and seek mentors who can provide valuable learning, feedback and insights. One should never stop learning. And since these people have achieved your dreams, find out how they did it. In the past month, the YBC provided many unique and diverse experiences. We learnt how to invest in wine and end up with profits rather than ‘plonk’ in our wine tasting event with Berry Bros & Rudd. In partnership with the Young Bankers Association of RBS and EuroCham, YBC hosted our always popular Network After Work, which provided a platform for diverse interaction. And in partnership

with UKTI, John Longworth, the Director General of the British Chambers of Commerce, UK, shared valuable insights at The Crown and Anchor during an informal and highly interactive mentoring event. Please ‘Like’ us on Facebook, and we look forward to seeing you at future events. Article By: Katherine Baker Simitri Group International

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At the Chamber: Business Group News

IT and Communications Technology Group Chairperson: Henry Farahar —Sales Director, Unified Communications Group, Logicalis Asia

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oming into the festive period, now is a great time to reflect on the last few years that I have had the pleasure of chairing the ICT Group for the Chamber. The 2012 ICT Business Groups Year of the Cloud series was the catalyst that allowed us out of the server room and put us on the map as an active and progressive business group. We had four events over the year, and nearly 200 people attended, while all feedback was positive. It was clear that Cloud Computing and the companies we were presenting were of interest not only to the tech-centric members, but also to everyone else in general. Once we moved onto the lighter stage,

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2013’s Mega-Trend series allowed us twice as many events and attendees, making this the biggest year on record for the group! Throughout this expansion, we have not in any way compromised the quality of topics or speakers. Aside from high-profile keynotes, we had specific focus events and site visits to diversify our format. Furthermore, we have done breakfast, lunches and dinners, which proves that anytime is relevant ICT time. Topics such as Big Data, Innovation, BYOD and Cloud are clearly at the top of mind for all of us, and that will continue. This year certainly showed that consumerisation of IT is real, and that we are all tech-focused in whatever positions we hold. Our experience and knowledge as consumers is something we take back into our businesses.

So what can we expect for 2014? A recent survey of the membership showed that the top concerns for members were: Cloud, Big Data, BYOD and Mobility. Therefore, our commitment will be to get the top companies and speakers on those topics available in Singapore, and bring them to an event near you soon! I would like to thank all of my committee members and the companies who have generously supported us over the last few years, and we will rely on their continued support. Most importantly, I wish to thank you, the members, the people who are becoming increasingly educated and knowledgeable about our business. Keep up that interest and support of the ICT Business Group.

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Energy & Utilities Group Chairperson: Damian Adams —Simmons & Simmons

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o you know that by 2040, the world’s population is predicted to rise to almost nine billion, an increase of more than 25% compared to where it stood in 2010? Focusing on the energy demand association with such population growth, it is predicted that, in the next 27 years, global energy demand will increase by 35%, with demand in developing countries (non-OECD) rising by a staggering 65%. It makes you think about where it’s all going to come from, doesn’t it? These and other interesting facts and predictions from ExxonMobil’s Outlook for Energy to 2040 were presented to approximately 100 Chamber members and guests at The Grand Hyatt on 1 November by Rob Gardner, Manager

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of the Economics and Energy Division of ExxonMobil. It was very pleasing to see such a fantastic turnout, especially given that 2013 has been a less eventful year for the Energy & Utilities Group than in previous years. That being the case, the immediate focus of the Group is to plan an event-filled 2014. In particular, we hope to kick off 2014 with an event in January on the politics of energy. In February, the first of a series of LNG-related events will be held, as 2014 marks the 50th anniversary of the first supply of LNG from Algeria to the UK and with it, the emergence of an industry that has impacted energy supply and demand, trade flows and infrastructure in

so many ways. But all of this would not be possible without the contribution of the Committee. Undoubtedly, the success of the group lies in its ability to bring topics of relevance to its audience, which is a benefit to which you can contribute. We would be delighted to hear your ideas and suggestions for topics and preferences around events. Would you be interested in more pure networking for example? Have you recently been to an energy-related event and seen a speaker whom you think might be of interest to an Energy & Utilities audience? If so, we would love to hear from you. We look forward to welcoming you to future events.

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At the Chamber: Sterling News Nestled within the mature Sennett landed estate, The Venue Residences and Shoppes is the latest mixed residential and retail development by City Developments Limited. It is close to key expressways and well-served by a network of public transport, with Potong Pasir MRT just three minutes’ walk away. With an assortment of 28 shops and &B outlets on the ground oor, residents of the 2 homes will enjoy the convenience of shopping and dining right at their doorstep. A host of facilities such as an infinity pool, origami-inspired cabanas, heated spa, sky terraces and more completes the mix for resort-style living. Take your pick from a choice of 1- to 4-bedroom suites, 3-bedroom dual-key suites, 2-bedroom+study duplexes, and penthouse suites. All units come with well-appointed interiors, uality finishes, and branded appliances. isit the sales gallery along Tai Thong Crescent to find out more. Open daily from . 0am pm. or sales en uiries, please call 877 8 8.

On September

, 20

, Allied Pickfords took home the Best International

Moving Company of the Year award at the The EMMAs, organised by Forum for Expatriate Management. The EMMAs awards are independently judged by some of the most highly esteemed professionals in the mobility industry. It is the ultimate accolade to achievement within Global Mobility. SIRVA, our parent company, won the Best Destination Service Provider of the Year award, making the win all the sweeter. In total, SIRVA and Allied Pickfords were nominated in eight categories, and was highly commended in several of these categories. As a global moving and relocation company, Allied Pickfords has been taking care of customers worldwide for more than 00 years. In September 20

, Allied Pickfords

celebrated 0 years of operations in Singapore, so this award is a great honour in our anniversary year, and shows our ongoing commitment to providing superior moving services.

AN ’s 20

ull ear Result Super regional strategy driving improved customer

outcomes, profit growth, and stronger shareholder returns. Some of the performance highlights included fully franked final dividend of to

cents per share (cps), taking the total dividend for

cps, up

customer deposits grew 2 , with net loans and advances up 0 AN Chief Executive Officer Mike Smith said, This is a strong performance, the result of a distinctive long-term strategy focused on growth in our domestic franchises and targeted expansion in Asia. Today, the continued shi of global growth to Asia means that our strategy, which focused on building an Asia-connected bank, makes more sense than ever. It is creating growth options in all our businesses, allowing us to better meet the needs of customers by capturing the banking opportunities linked to regional capital, trade and wealth ows.

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Out on the Street, a leadership organisation that brings together senior executives from across the financial services industry to expand lesbian, gay, bisexual and transgender (LGBT) e uality, held the first summit in Asia to focus on LGBT e uality in the workplace. The conference, hosted by Barclays, welcomed senior executives from

Out on the Street member companies, as well as other Asian business, community and political leaders. The summit focused on Asian approaches to LGBT workplace rights, emerging LGBT talent, and the experience of expatriates and locals in being openly LGBT in Asian workplaces. Today we have an opportunity to work together with like-minded organisations and commit to fostering an environment where all of our people are respected for their talents and contributions, in an environment that o ers everyone regardless of their sexual orientation or gender identity the same opportunities to be successful, said Antony enkins, Barclays Group Chief Executive.

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At the Chamber: Corporate News Corporate Research and Investigations LLC (CRI Group, www.crigroup.com) has extended its global reach with the announcement of the company’s newest operations centre recently launched in the Qatar Financial Centre (QFC). As a global supplier of corporate investigations, business due diligence, fraud risk investigations, business intelligence, employee background screening services, market research and analysis, brand protection and intellectual property infringement services, and forensic accounting for some of the world’s leading multinational organisations, CRI Group safeguards businesses by investigating the financial viability, business history, legal compliance, and integrity levels of third-parties, outside partners, suppliers and customers seeking business affiliations with our clients.

Opening in January 2014 in the heart of Jakarta’s most prestigious district, Menteng, The Hermitage rises above tree-lined streets and lush parks as a true haven from the bustling city. What was once a Dutch Telecommunications office, built in Telefoongebouw’ is now a luxury hotel o ering

2 , the Menteng

0 rooms and suites with a contemporary

interpretation of the Batavia Art Deco style, blending old-world elegance, ultra-modern amenities, and the most gracious Indonesian hospitality. The Hermitage a ords a uni ue contrast between modernity and a bygone era. Managed by G.L.A. Hotels, it is a member of The Leading Hotels of the World (LHW.com).

For the holiday season, Survival Chic (SC) announces a push in its Corporate Social Responsibility (CSR) Programme: SC Lifestyle Membership is Singapore’s first premier Lifestyle Membership. SC Members are busy executives and expats who are looking to make the most of their precious leisure time. Through a longstanding CSR Policy, SC has allocated more than $15,500 to 560 entrepreneurs in 48 developing countries via Kiva. From now until December 18, SC will be increasing its impact, allocating $50 instead of $10 for each SC Membership purchased or gi ed to friend, spouse, client, or colleague.

F

A BritCham Business Award Recipient in 2012, Expat Insurance has been on an upward progression since its inception in 200 . In September this year, Expat Insurance became the first company in over a decade to be granted a brokerage licence by the Monetary

• • •

Authority of Singapore (MAS). Expat Insurance founder and Managing Director, Danielle Warner, said, “We’re extremely pleased to receive this licence from MAS; their rigorous procedures demonstrate a commitment to high service regulations. For us at Expat Insurance, we’re delighted to o er our clients a wider range of insurance solutions that meet their every need.”

Ca Je Pa

w

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Debating how schools can prepare their students for tomorrow’s world, more than 70 Cambridge teachers from around the world attended the Cambridge Schools Conference in Singapore between

and 7 October 20

. The conference, which took place at nited

World College South-East Asia East Campus, focused on the impact of new digital devices on learning and how technology can be best integrated into the classroom. One of the keynote speakers, Ayesha Khana, Chief Executive at rban Intel in Singapore, said, Teachers are taking technology seriously and are already realising that the world is changing and that we need to prepare our students for this.

Cushman & Wakefield (C&W) ac uired a leading project management business, Project Solution Group (PSG), this year. This ac uisition positions C&W as a market leader in Project Management services across Asia and in Singapore, providing office fit-out and industrial construction for multinational tenants. C&W is the world’s largest privately held commercial real estate services firm, providing leasing, investment, project management and valuation for the office, retail and industrial sectors. ind out more about us on www.cushmanwakefield.sg

Our staff make the difference

Family, Paediatric & Travel Medicine • Caring for the expatriate community since 1999 • A diverse international team of medical professionals • A caring, friendly and familiar environment Camden Clinic | 1 Orchard Boulevard, Camden Medical Centre #14-06 | 6733 4440 Jelita Clinic | 293 Holland Road, Jelita Cold Storage #02-04 | 6465 4440 Paediatric Clinic | 1 Orchard Boulevard, Camden Medical Centre #11-06 | 6887 4440

-

www. imc healthcare . com

IMC - Orient - Half Pg Ad - Make the Difference.indd 1 P54-73_The Orient_Issue 46_v5.indd 67

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At the Chamber: Corporate News Flight delays or cancellations caused by external factors can have a profound impact on one’s travel plans. To help customers take better precautions, MSIG has launched a new Travel Alert service. This is the first time a travel alert service is o ered for a personal travel insurance product in Singapore. With the service, MSIG’s travel policyholders will receive SMS alerts on safety and security-related information throughout their journey. These alerts would cover extreme weather, natural disasters, public transportation delays, political unrest, and health-related information. The Travel Alerts are provided by AidCom AS, an independent service provider.

The International Baccalaureate’s (IB) Board of Governors has announced the selection of Dr Siva Kumari as the new IB Director General. The announcement was made by Carol Bellamy, Chair of the IB Board, during the 2013 bi-annual IB Heads World Conference in Buenos Aires. Dr Kumari is the seventh Director General in the IB’s 45year history, and the first woman to hold the post. Dr Kumari succeeds e rey Beard who, since 200 , has led the IB through its remarkable transformation over 45 years into a prominent global institution known for its educational excellence, academic rigour, and leadership in international education.

The latest Friends Provident International Investor Attitudes Report unveiled that many af uent Singaporeans start saving for children’s education at birth. Key findings: 73% of those surveyed (with children) commence saving for the costs of university education before their child’s fi h birthday Over half of the respondents aspired to fund the cost of a typical three-year undergraduate degree course for their child; 33% of the respondents have planned to finance their child for master’s degree

2

for doctorates and

for an MBA which

are becoming more popular in competitive job markets 61% plan to send their child to a university in Singapore The US, Australia and the UK are the most popular destinations for those intending to send their child to study abroad Please visit www.fpinternational.com to view the full details of the report

Olswang, a leading international TMT law firm, is pleased to announce the relocation of its Singapore office to Ocean inancial Centre

th

Level. Its move into

,000 .2 of brand-new

office space facilitates greater expansion and future growth for the firm. This is an important milestone for Olswang as it re ects our commitment and confidence to growing our presence in the region, and allows us to continue to provide high-quality legal services to our clients,’ said , Managing Partner, Rob Bratby.

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In a joint announcement, Dezan Shira & Associates (Dezan Shira), one of the largest business advisory firms in Asia, and Kahn, Litwin, Renza & Co., Ltd. (KLR), one of New England’s largest CPA and business consulting firms, have agreed to cooperate and exchange office space. The two firms will serve both regions to deliver China-based accounting, tax, and consulting solutions to companies in the New England marketplace, as well as encourage inbound Asian investment into the New England region.

Infinite Security Solutions (ISS) is one of the first companies in the world to be accredited by Lloyd’s Register Quality Assurance (LRQA) to ISO 28000:2007 Security Management System Standards. This approval meets the guidelines of the ISO PAS 28007. The Security Management System is applicable to the Provision of Private Maritime Security Services providing contracted armed security personnel on board ships in transit across international waters and operating in the Gulf of Aden, the east coast of Africa and the Indian Ocean. ISS would like to thank all employees for their support and professionalism during the accreditation process.

Tabula Ad

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At the Chamber: Leaders in Business Lunch

Leaders in Business Lunch: Building A Sustainable Business in a HyperConnected World October 22, 2013 It was an honour to have Rt Hon Patricia Hewitt, Non-Executive Director of BT, share her experiences and insights into how organisations can take advantage of a hyperconnected world, and how one needs to be a part of it to be successful.

>

Rt Hon Patricia Hewitt, ex-UK Government Cabinet Member (2001-2010) and Non–Executive Director, British Telecommunications plc

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At the Chamber: Breakfast Clubs

W W W. B R I T C H A M . O R G . S G

Asi ci c Economic and Commercial Real Estate Outlook for 2014 October 25, 2013 Dr Megan Walters shared with attendees what may happen in commercial real estate in the Asia Pacific in 2014, and discussed the drivers of the occupier space and investment markets, and what that means for rent and capital values in the region.

>

Dr Megan Walters, Head of Research, Asia Pacific Capital Markets at Jones Lang LaSalle

Outlook for Energy— A View to 2040 November 01, 2013 This outlook revealed key findings about how we use energy, how much we will need in the future, and what types of fuels will meet demand. It provided attendees a window to the future, a view that ExxonMobil uses to guide its own strategies and investments.

>

Rob Gardner, Manager of the Economics and Energy Division, ExxonMobil Corporate Strategic Planning Department

The BritCham Breakfast Club is proudly sponsored by:

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72

Unconscious Bias in the Workplace—How is it Affecting Your Business? September 25 ,2013 This interactive and lively session conducted by Connie Wong from CSW Associates provided tips on how attendees could identify where they may be biased, what they could do about it, and how to develop further with this knowledge. The session included an interactive Q&A, audience discussions, and role playing by actors.

>

Connie Wong, Founder and Managing Director, CSW Associates Inc

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The Cannes Do: Screening of the Winners of the 60th Annual Cannes Lions International Advertising Festival October 08, 2013 Peter Callaghan, Creative Director, BBH Asia, promised a night of originality, surprise and provocation, and that he delivered. From print to video, the best of the 60th Annual Cannes Lions International Advertising Festival amazed and inspired attendees while they got to know each other through the networking session.

>

Peter Callaghan, Creative Director, BBH Asia

Young British Chamber窶年etwork after Work October 17, 2013 The Young Professionals of the British Chamber and RBS came together once again at the lively District 10 Bar and Restaurant at Clarke Quay to exchange ideas and share experiences. It was a successful platform for learning and networking, with free-flow drinks and finger food.

>

Brian McLaren - Regional HR Director, APAC and Head of HR M&IB APAC

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At the Chamber: BritCham Events Review 2013

BritCham Events Review 2013 January

February

Thu, January 17, 2013 - 6:30 PM

Tue, February 05, 2013 - 9:00 AM

Property and Construction Back to Work Networking Evening

BritCham Supported Event: UK Business Opportunities in China, Burma and Beyond

British Chamber of Commerce

In Partnership with British High Commission, Singapore & UK Trade & Investment

Fri, January 18, 2013 - 7:45 AM Breakfast Club: The Resilience of Great Leaders

Tue, February 05, 2013 - 2:45 PM

Surviving Leadership in Today’s Business Climate

BritCham Business Tour: GSK Global Manufacturing and Supply (GMS) Plant

Dr James McCalman - Chief Executive, Windsor Leadership Trust Tue, January 22, 2013 - 7:45 AM Breakfast Club: Disrupt or Be Disrupted Creating Value in the Consumer Products Brand New Order

A Strategic Global Site For Pharmaceutical Compounds GlaxoSmithKline Wed, February 06, 2013 - 7:45 AM

Anthony Lucas - Partner, Ernst & Young

Breakfast Club: 2013… Salary and Employment Forecast in Singapore

Fri, January 25, 2013 - 7:45 AM

Andrew Norton - Regional Managing Director, South East Asia, Page Group

Special Event: The Future of Growth: New Global Economic Dynamics of Prosperity in 2013

Thu, February 07, 2013 – 7:00 PM

An Economic Outlook and Business Forum

Sterling and Sponsors Acknowledgement Dinner

Andrew Vine – CEO, The Insight Bureau & Dr Yuwa Hedrick-Wong – Global Economist & Business Strategist

British Chamber of Commerce

Tue, January 29, 2013 - 7:45 AM Breakfast Club: Conflict Resolution in Business Greg Spiro - SpiroNicholson (Singapore) Pte Ltd Thu, January 31, 2013 - 8:00 AM BritCham Special Event: One-Day Business Visit to Iskandar Malaysia Singaporean-German Chamber of Industry and Commerce

Wed, February 20, 2013 - 7:45 AM Breakfast Club: Introduction to Large/Complex Project Implementation and Transition Management Patrick Laredo - XPM President and Philippe Collin Delavaud Singapore SportsHub CEO Thu, February 21, 2013 - 6:30 PM Network After Work Professional Services Business Group

Thu, January 31, 2013 - 6:30 PM Networking: Network after Work Financial Services BritCham Financial Services Business Group

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Wed, February 27, 2013 - 7:45 AM

Tue, March 19, 2013 – 5:30 PM

Breakfast Club: A Camera in Every Hand? The Power of the Visual Image: Challenge and Opportunity

Evening Presentation/Networking: Harnessing the Power of Big Data for your Organisation

How to use Basic Broadcast Skills to Communicate to External and Internal Audiences

Kenneth Cukier - Data Editor, The Economist & Arun Ulagaratchagan - General Manager, Server & Tools Business, Microsoft

Jeremy Humphries - MD, Skills2Film Thu, February 28, 2013 - 6:30 PM YBC Mentor Series: Captain Paul J. Foster

Thu, March 21, 2013 – 6:30 PM Young British Chamber Professional Networking Evening

Captain Paul J. Foster, U.S. Navy Commanding Officer Wed, March 27, 2013 – 7:45 AM Breakfast Club: Winning the Talent Retention War

March

Gaurav Joshi - Area Director, Regus Singapore

Fri, March 01, 2013 – 7:45 AM Breakfast Club: Computer Forensic Investigations – Real Life Corporate CSI The Capabilities of Computer Forensics – A Layman’s Guide Rob Phillips - Founder, RP Digital Security

April Wed, April 10, 2013 – 7:45 AM Breakfast Club: Global Customer Experience Management

Fri, March 01, 2013 – 8:00 AM

The Key Strategy to Competing Globally and Deliver Relevant Local Experience Successfully

Strategic Partner Event: Singapore Budget Briefing 2013

Bhagwat Pant - General Manager, SDL

In Partnership with Singapore German Chamber Mr. Choo Eng Chuan-Ernst & Young Solutions LLP

Wed, April 17, 2013 – 5:00 PM Annual Event: CSR Panel - Corporates for Social Enterprise

Tue, March 05, 2013 – 6:00 PM YBC Mentor Series: Michael Ma - Founder & Group CEO (IndoChine Group), Entrepreneur, Conservationist Young British Chamber Mon, March 11, 2013 – 12:45 PM Business Lunch with UK All-Party Parliamentary Group for Trade & Investment and the Accompanying Business Delegation

BritCham CSR Committee Thu, April 18, 2013 – 6:00 PM ICT Networking Evening In Partnership with the French Chamber of Commerce BritCham ICT Business Group Tue, April 23, 2013 – 7:45 AM Breakfast Club: Neuroscience in Business

Thu, March 14, 2013 – 7:45 AM Breakfast Club: Everything We Know Is Wrong Charles Wigley - BBH Asia Chairman Fri, March 15, 2013 – 5:30 PM BritCham Supported Event: AustCham Wine & Cheese Night AustCham and BritCham

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How Neuromarketing is Providing Groundbreaking New Consumer Insight Professor Gemma Calvert - Founder, Neurosense Tue, April 23, 2013 – 6:30 PM Networking: St George’s Day Evening at the British Club British Chamber of Commerce

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At the Chamber: BritCham Events Review 2013

Thu, April 23, 2013 – 7:00 PM

Thu, May 16, 2013 – 6:30 PM

YBC Mentor Series: Sir Richard Lambert

Annual Event: Annual General Meeting

British Chamber of Commerce

British Chamber of Commerce

Wed, April 24, 2013 – 7:45 AM

Wed, May 29, 2013 – 5:30 PM

Breakfast Club: Debt Financing and Restructuring

Evening Presentation/Networking: Google’s Nine Notions of Innovation

David HL Chew - Executive Director, Ernst & Young Solutions LLP

How To Make It a Part of Your Own Corporate Culture Wed, April 24, 2013 – 6:30 PM Evening Presentation/Networking: Getting Physical Office Space Options for SME’s A Round Up of the 3 Options of Leasing Office Space in Singapore Diana Thomson - Property Manager Consultant and Jonathan O’Byrne - CEO of Collective Works

May Tue, May 07, 2013 – 12:00 PM Business Group Working Lunch: Expatriates on Assignment in Singapore and those Singaporeans Desirous of Working Elsewhere. Sally Muggeridge - Non Executive Director TOTAL Oil

Andrew McGlinchey, Senior Product Manager, Google, Southeast Asia Thu, May 30, 2013 – 5.30 PM BritCham Economic Briefing with Graeme Maxton Graeme Maxton, Global Economist, Speaker and Author

June Wed, June 05, 2013 – 7:00 PM Annual Event: BritCham Rugby Dinner 2013 with Gavin Hastings, Joe Roff & Martin Bayfield Wed, June 12, 2013 – 7:45 AM Breakfast Club: A Tax Efficient Strategy for your Retirement

Wed, May 08, 2013 – 7:45 AM

Martin Rimmer and Martin Wright - The Fry Group

Breakfast Club: Boosting Business with Digital Marketing Understanding How Low Cost Digital Marketing Techniques Can Drive Business Growth for SMEs

Thu, June 20, 2013 – 6:30 PM

Nick Fawbert - Managing Partner, Third Space Consulting

British Chamber of Commerce

Professional Services Business Group Networking

Thu, May 09, 2013 – 7:45 AM

Fri, June 21, 2013 – 6:30 PM

Breakfast Club: Employee Mobility and Travel Risk Management

BritCham Supported Event: ASME Inter-Association Networking Night 2013

Challenges and Best Practices in Mitigating Key Business Travel Risks in Asia

SONAR by Neverland

Alex McSporran - Regional Security Training Manager, International SOS Tue, May 14, 2013 – 7:45 AM Breakfast Club: How to Establish and Grow Your Business in Emerging Markets.

Tue, June 25, 2013 – 12:00 PM Business Lunch: Selling and Negotiation Avoiding the Trap and Reducing Internal Conflict Keith Fitzgerald - Managing Director, Sea-Change Partners

Lessons Learnt From 20 years of Doing Business in Vietnam.

Thu, June 27, 2013 – 6:30 PM

Khalid Muhmood MBE - Co-founder and Director, British Education Partnership, British University Vietnam, Apollo English.

Networking Evening and Incorporation of the Scottish Business Group British Chamber of Commerce

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July

Wed, August 14, 2013 – 12:00 PM

Mon, July 08, 2013 – 8:30 AM UK Investment Management Strategy

Lyse Doucet - Chief International Correspondent, BBC World News

Roundtable Discussion With Economic Secretary to the Treasury

Thu, August 15, 2013 – 6:30 PM

Business Lunch - Live the Story

Sajid Javid - Economic Secretary to the Treasury, HM Treasury

BritCham and EuroCham Young Professionals Networking Evening

Wed, July 10, 2013 – 7:30 AM

District 10, UE Square

Breakfast Club: Persuasion Psychology How to Persuade and Influence People

Wed, August 21, 2013 – 7:30 AM

Neil Orvay - Founder, Evolution-U Limited

Breakfast Club: Operational Excellence Meeting Customer Requirements Efficiently and Profitability

Tue, July 16, 2013 – 7:30 AM

David Hand - Managing Director, Newport Consulting

CSR Breakfast Briefing: Towards a new Social Contract Making Corporate Giving Strategic

Tue, August 27, 2013 – 7:30 AM

Laurence Lien - CEO, National Volunteer & Philanthropy Centre

Breakfast Club: Digital PR in Your Sales Strategy Leverage on Full Channel Utilization

Wed, July 17, 2013 – 7:30 AM Breakfast Club: To Bring or not to Bring…Your Own Device, That Is Stevan Hoyle - President of Asia and Africa, Vodafone Global Enterprise Wed, July 24, 2013 – 7:30 AM

Thomas N. Thoresen - Business Development Manager, MyNewsDesk Thu, August 29, 2013 – 5:00 PM Business Tour: “The New World Of Work” at Microsoft What Does the Workplace of the Future Look Like? Fiona Mullen (Senior HR Director, Microsoft Asia-Pacific) and Alan Stone (CIO, Microsoft Asia-Pacific)

Breakfast Club: Outsourcing - Is There Still Life in the Strategy After 2 Decades? Andrew Taylor - Managing Director South East Aisa, EA Consulting

September Tue, September 03, 2013 – 7:45 AM

August

Singapore Data Protection: Don’t Panic! The Businessperson’s Guide to What You Need to Know

Thu, August 01, 2013 – 5:00 PM

Rob Bratby, Managing Partner, Olswang Asia & Will Courtenay, Executive Director, Asia Privacy Counsel, Morgan Stanley

Business Tour: YBC Twilight Sail Young British Chamber and Keppel Bay Sailing Academy Wed, August 14, 2013 – 7:45 AM Breakfast Club: Developments of the Competition Law in Singapore

Thu, September 05, 2013 – 6:30 PM Business Group Networking: “Get Connected” How You Can Make LinkedIn Work for You BritCham Professional Services Group

Competition Policy Keeps Markets Competitive Ms Nimisha Tailor - Senior Assistant Director, Business and Economics Division, Competition Commission of Singapore

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At the Chamber: BritCham Events Review 2013

Tue, September 17, 2013 – 7:30 AM

Thu, October 10, 2013 – 6:30 PM

Breakfast Club: Leadership is Not Enough

Networking: Young British Chamber Wine Investing & Tasting: How to End up with Profits Rather than Plonk!

The Vital Role of Wealth Creators in Business Charles Atkinson, BEng, MBA, CDir, FStratPS President, North America, Human Factors International

Mr. Hugo Thompson - Fine Wine Consultant, SE Asia, Berry Bros. & Rudd Ltd

Thu, September 19, 2013 – 10:00 AM

Thu, October 17, 2013 – 6:30 PM

Roundtable Briefing: Doing Business in India Opportunities for UK Companies

Young British Chamber - Network after Work Young British Chamber and The Royal Bank of Scotland

Mike Nithavrianakis - British Deputy High Commissioner in South India (Chennai), Foreign and Commonwealth Office Tue, October 22, 2013 – 12:00 PM Thu, September 19, 2013 – 6:30 PM BritCham F1 Sky High Networking Evening British Chamber of Commerce

Leaders in Business Lunch Building a Sustainable Business in a Hyper-connected World Rt Hon Patricia Hewitt, Ex UK Government Cabinet Member (2001-2010) and Non–exec Director, British Telecommunications Plc

Mon, September 23, 2013 – 7:30 AM Breakfast Club: Beyond Banks: Alternative Sources of Funding for SMEs: The Options, the Benefits and the Sacrifices Required Richard Ong - Director, Appleton Global & Frank Levinson MD, Small World Group Incubator

Wed, October 23, 2013 – 4:00 PM Business Tour of the Singapore Sports Hub Property & Construction Business Group

Fri, October 25, 2013 – 7:30 AM Wed, September 25, 2013 – 6:30 PM Unconscious Bias in the Workplace - How is it Affecting Your Business? Connie Wong - Founder and Managing Director, CSW Associates Inc

Breakfast Club: Asia Pacific - Economic and Commercial Real Estate Outlook for 2014 Dr Megan Walters - Head of Research, Asia Pacific Capital Markets at Jones Lang LaSalle

Mon, October 28, 2013 – 6:00 PM

October Thu, October 03, 2013 – 7:30 PM

YBC Mentor Series with John Longworth the Director General of The British Chamber of Commerce British Chamber of Commerce

Annual Event: 14th Annual Business Awards Gala Dinner British Chamber of Commerce

November Tue, October 08, 2013 – 6:30 PM Evening Networking - The Cannes Do Screening of the Winners of the 60th Annual Cannes Lions International Advertising Festival Peter Callaghan – Creative Director, BBH Asia

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Fri, November 01, 2013 – 7:30 AM Breakfast Club: Outlook for Energy - A View to 2040 Rob Gardner - Manager of the Economics and Energy Division, ExxonMobil Corporate Strategic Planning Department

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Wed, November 06, 2013 – 7:30 AM Breakfast Club: Precious Metals, Barbarous relic or Essential Diversification The Role of Physical Precious Metals in Portfolio Diversification Russell Smith - Director, Baird and Co

December Tue, December 03, 2013 – 8:00 AM Roundtable Briefing: An Introduction and Overview of the Intellectual Property Landscape in ASEAN. How to manage your IP effectively in the ASEAN Region

Tue, November 12, 2013 – 7:30 AM Breakfast Club: Using Big Data and Cloud to get Ahead in your Business See the Benefits that Cloud and Big Data are Already Bringing to Other Companies. Simon Dring - Managing Consultant, PA Consulting Group & Cory Franzmeier - Head of Cloud Platform APAC, Google

M. Ravindran - ASEAN IPR SME Helpdesk Expert

Sat, December 07, 2013 – 7:00 PM Annual Event: BritCham Oriental Ball 2013 British Chamber of Commerce

Tue, November 12, 2013 – 8:00 AM Roundtable Briefing: Graeme Maxton on Club of Rome and the Limits to Growth Report a Discussion on the Macro, Global, Environmental and Sustainability Issues Graeme Maxton - Global Economist, Speaker and Author

Tue, November 19, 2013 – 5:30 PM Evening Presentation: Return on Inclusion – The Business Imperative of Diversity Penny Burtt - McKinsey & Company Hayden Majajas – BP Sian Brown - Barclays & Ali Moore, Moore Media

Thu, November 21, 2013 – 5:30 PM Annual Event: Economic Briefing with Roman Scott Roman Scott - Chairman, The Calamander Group & Economist on Asia, Sri Lanka and Financial Services

Mon, November 25, 2013 – 12:00 PM Leaders in Business Lunch with Gavin Patterson Group CEO, BT Plc Fostering a Culture of Continuous Innovation Gavin Patterson - Group CEO, BT Plc

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2014 BritCham Events: Mark Your Diary

At the Chamber: Events Calendar

BritCham 60th Anniversary Thursday April 3, 2014 Eden Hall

Annual General Meeting Thursday May 8, 2014 Eden Hall

F1 Networking Thursday September 18, 2014 Tower Club, Republic Plaza

BritCham Annual Business Awards 2014 Thursday October 2, 2014 Shangri-La Hotel, Singapore

BritCham Ball 2014 Saturday December 6, 2014 Shangri-La Hotel, Singapore

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Building Networks Connecting Business Creating Opportunities

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Culture & Lifestyle

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If the World Changed By Vipanchi Dinavahi In its fourth edition, this year’s Singapore Biennale (SB2013) was inaugurated by Acting Minister of Culture, Community and Youth, Mr Lawrence Wong. Open until February 16, 2014, SB2013 features works by 82 artists and artist collectives from 13 countries that will be fascinating to anyone with an open mind.

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Prateep Suthathongthai, Stillness of Reflection (artist impression), 2013, printed photographs on tile, dimensions variable, artist collection. Singapore Biennale 2013 commission. Image courtesy of The Artist.

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Culture & Lifestyle: If the World Changed

Jainal Amambing, My Longhouse Story (artist sketch), 2013, oil on canvas, 6 pieces, 122 x 152 cm (3 pieces), 122 x 183 cm (2 pieces), 122 x 304 cm (1 piece), artist collection. Singapore Biennale 2013 commission. Image courtesy of The Artist.

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f we travel back in time to the year 2000, one would relate Singapore to a fledgling art arena. Today, Singapore has evolved to become Asia’s art hub, second only to Hong Kong. Singapore’s art scene is witnessing an explosion of talent, with both local and international artists being showcased in museums, galleries and exhibitions.

In a 2011 Wall Street Journal article, the then director of the Singapore Art Museum, Mr Tan Boon Hui, commented, “In the area of visual art, Singapore has made tremendous progress, there has been a suite of platforms and showcases that have helped put Singapore prominently on the international art scene.” There is a strong state-led effort to promote Singapore as a regional arts hub. Events such as the Singapore Biennale and Art Stage are supported by government agencies such as the Singapore Tourism Board, Economic Development Board of

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Singapore, Singapore Art Museum, and National Arts Council. The Singapore Biennale was established in 2006 as Singapore’s pre-eminent platform for international dialogue in contemporary art. It places the country’s artists within a global context, and fosters productive collaborations with the international arts community. In this way, the Biennale provides new opportunities for local visual artists, arts organisations and businesses, and cultivates a deeper public engagement with the arts. Furthermore, it complements achievements in other areas of arts and culture, collectively enhancing Singapore’s international profile as a vibrant city in which to live, work and play. The SB2013 has harnessed the energy of the South East Asian region to bring to the fore unique practices, concerns and myriad perspectives of artists from this part of the world. Drawing on the

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Building Networks Connecting Business Creating Opportunities

Leslie De Chavez, Detritus (detail), 2012–2013, oil on canvas, 240 x 570 cm, artist collection. Image courtesy of The Artist.

combined expertise of its team of 27 curators, a significant 93% of works are by artists or collectives from the region, resulting in the strongest Asian representation to date. A substantive number of works have also been specially commissioned for SB2013, and are being shown for the first time here. Of particular note is that SB2013 reaches beyond the familiar, featuring artists who hail not only from major metropolitan centres but also from lesser known regions, allowing a multifaceted and diverse presentation of current regional art practices, as well as artistic responses. SB2013 comprises various mediums, including video, installation, painting, photography, mixed media, sculpture and more. These engaging works serve to deepen our understanding of the sociocultural, economic, aesthetic and

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ideological complexities of the region.

Integrating Technology

A smartphone application has been made available on both Google Play and the App Store, featuring two specially curated, time-based walking trails and additional information on each artist and work. Users can also create their very own trail based around works they are interested in or have “favourited.” When a work is “favourited,” they can be shared on Twitter or Facebook, where information about the work and artist will be available to the user’s contacts.

Visiting the Biennale The Singapore Biennale 2013 will be held in a number of active art spaces in the Bras Basah-Bugis precinct, including the Singapore Art Museum (SAM) and its annex building SAM at 8Q, National Museum of Singapore, Peranakan Museum, Fort

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Marisa Darasavath, Untitled, 2013, oil on canvas, set of 9, 250 x 500 cm (1 piece), 140 x 190 cm (8 pieces), artist collection. Singapore Biennale 2013 commission. Image courtesy of The Artist.

Also, the Artist Folios are unique resources available for the first time in this biennale. Designed for educators and parents, each folio provides background information on the artist and their work, along with a glossary of terms, suggested questions and activities to encourage children of all ages to understand each work and its themes. There are also links to articles and videos should they wish to delve even deeper into the issues explored.

Canning Park, National Library Building, Singapore Management University, the Waterloo Centre, as well as Our Museum @ Taman Jurong. Tickets to the Biennale can be purchased from SB2013 museum venues at $10 for adults and $5 for students and senior citizens, or online at SISTIC.

SB2013 is organised by the Singapore Art Museum and supported by the Ministry of Culture, Community and Youth, the National Arts Council, and the National Heritage Board.

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Britcham Orient Issue 46