Orient Issue 66

Orient

THE OFFICIAL MAGAZINE OF THE BRITISH CHAMBER OF COMMERCE SINGAPORE ISSUE 66 | MAY 2018

BUILDING NETWORKS | CONNECTING BUSINESSES | CREATING OPPORTUNITIES

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SPECIAL FEATURE:

Repaving the Ancient Silk Routes

SPECIAL COVERAGE:

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The Ministry of Manpower Addresses our Members

MCI (P) 136/04/2018

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IN FOCUS:

Sam Fischer, President, Greater China & Asia, Diageo

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07

President's & Executive Director's Message

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News from the Chamber

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Special Coverage: Achieving Sustainable Workforce Growth and Building the Talent Pipeline

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BritCham Board Members 2018/2019

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New Members

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Upcoming Events

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Recent Events

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Special Feature: Repaving the Ancient Silk Routes

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In Focus: Sam Fischer, President, Greater China & Asia, Diageo

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Feature: B2B Brands and the Power of Why

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Feature: The Real Truth about Gender Diversity: Why Now Is the Time to Invest in Future Female Leaders

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Let's Discuss...

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Member Offers

Editor: Lucy Haydon lucy@britcham.org.sg

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

Co-Editor: Nicole Alison Lim alison@britcham.org.sg

© All rights reserved.

39 Robinson Road #11-03 Robinson Point Singapore 068911 Tel: +65 6222-3552 Fax: +65 6222-3556 Email: info@britcham.org.sg www.britcham.org.sg

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 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. @britchamsg @britchamsg @bccsingapore @british-chamber-ofcommerce-singapore

CONTENTS

ABOUT THE BRITISH CHAMBER OF COMMERCE

MEMBER NETWORK

COMPANY NETWORK

NETWORK BY INDUSTRY

NETWORK BY SENIORITY

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OUR SPONSORS PLATINUM SPONSOR

GOLD & DIVERSITY SPONSOR

GOLD SPONSORS

SILVER SPONSORS

SUPPORTING PARTNER

BRITCHAM BOARD

BUSINESS GROUP CHAIRPERSONS

MANAGEMENT TEAM

PRESIDENT:

BUILT ENVIRONMENT:

Executive Director: Olivia Widen

Bicky Bhangu, Rolls-Royce Singapore

VICE-PRESIDENTS:

Marius Toime (Chairperson), David Mackerness (Co-Chair)

Damian Adams, Simmons & Simmons Sian Brown, Barclays Bank PLC

DIVERSITY & INCLUSION:

SECRETARY:

ENERGY & UTILITIES:

Andrew Vine, The Insight Bureau

TREASURER:

David Fowler, PricewaterhouseCoopers

BOARD MEMBERS:

James Nesbitt, Standard Chartered Bank Richard Warburton, Arcadis Paul Kelleher, Diageo Singapore Pte Ltd Haslam Preeston, Jardine Cycle & Carriage Ltd Mark Chowdhry, Baxters International Andrew Pickup, Microsoft Asia Damian Hills, The British Club Rosie Danyluk, BP Singapore Pte Ltd Christopher Pook, Department for International Trade (Ex-Officio) Roland Davies, British Council (Ex-Officio)

COMMITTEE CHAIRS BUSINESS GROUPS: Richard Warburton

EVENTS:

Nella Goodarzi (Chairperson)

Head of Marketing & Communications and Partnerships, Deputy Executive Director: Lucy Haydon

Tim Rockell (Chairperson), Bree Miechel (Co-Chair)

Head of Member Relations: Nicole Wharfe

ENTREPRENEUR & SMALL BUSINESS:

Head of Events: Zoe Fazan

Miles Gooseman (Chairperson), Mark Florance (Co-Chair)

FINANCIAL & FINTECH:

Ashley Jones (Chairperson), Francesca McKee (Co-Chair), Kalai Natarajan (Co-Chair)

INFOCOMM TECHNOLOGY: Andrew Pickup (Chairperson), Magda Chelly (Co-Chair), Hitan Mehta (Co-Chair)

LEADERSHIP, TALENT & PROFESSIONAL DEVELOPMENT: Joe Tofield (Chairperson), Mark Chowdhry (Co-Chair), David Gardner (Co-Chair)

MARKETING & CREATIVE:

Events & Member Relations, Manager: Helen Starr Membership, Administrator: Sharmila Maniam Marketing & Communications, Executive: Nicole Alison Lim Marketing & Communications and Events, Executive: Samantha Nelson Head of Business Services: Carole McCarthy

Sian Brown

Suzy Goulding (Chairperson), Andrew Clark (Co-Chair)

Business Services, Advisor: Arvind Jeyabalen

EXTERNAL AFFAIRS:

SUSTAINABILITY & RESPONSIBILITY:

Business Services, Events Executive: Charlyn Song

TRANSPORT, LOGISTICS & SUPPLY CHAIN:

Finance Manager: Pauline Yeo

WOMEN IN BUSINESS:

Office Manager: Anna C Garciso

Bicky Bhangu

MEMBERSHIP: Damian Adams

Rosie Danyluk (Chairperson), Sarah Cragg (Co-Chair)

Simon Petch (Chairperson)

Angel Cheung (Chairperson)

YOUNG PROFESSIONALS: Joe Tofield (Chairperson)

CHAMBER INFORMATION

Celebrate a royal occasion in London this spring Share the excitement of the UK’s event of the year with a trip to London this spring or summer.

Explore vast palaces, visit breath-taking historical sites or simply enjoy a picnic in one of London’s beautiful royal parks.

Book your flights now at ba.com

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Olivia Widen Executive Director, British Chamber Of Commerce, Singapore

Bicky Bhangu President, British Chamber Of Commerce, Singapore

As you’ll see, the editorial team has taken the Orient Magazine digital this month with a brand new design. More to follow as the Chamber continues its own digital transformation, so watch this space!

The past two months have seen good progress made in key areas of focus for the Chamber.

In April, the UK hosted leaders at the Commonwealth Heads of Government Meeting. Under the theme: ‘Towards a Common Future’, leaders reconfirmed their commitment to the common values of the Commonwealth. And specifically, how member states can work together to contribute to a fairer, more sustainable, more secure and prosperous future. It’s a timely and important reminder given the backdrop of anti-globalisation sentiment.

At our AGM in April, I shared an update about the growth in membership we’ve seen and the efforts we’re taking to ensure we remain relevant as a Chamber heading into an exciting future. These efforts include strengthening our relationships across Singapore, as well driving even closer links with the UK Department for International Trade and various Ministries. Beyond Singapore, we’ve seen great progress to reinforce our regional chamber community across South East Asia to increase the opportunities for British companies in the region.

The Britain in South East Asia (BiSEA) Roadshow in the UK this past month saw more than 100 companies from various industries attend one to one sessions with Chamber representatives from six countries in eight different cities.

Events like this give companies the opportunity to identify areas for expansion, and to ultimately grow across Southeast Asia.

Looking ahead, we will continue to host events in our Future of Work initiative, launched at the Annual General Meeting to very positive feedback from member companies stepping forward to get involved in what our future working and living spaces will look like.

Entries to our Annual Business Awards are now open and I’d like to encourage you to look across your company for potential nominations. As our past winners will agree, the recognition and visibility provided through the Awards make the entry process worthwhile and if successful, the Awards night that much sweeter!

The BritCham calendar for the rest of the year continues to feature a range of events. Take a moment to look through our event pages and come along to one of the many engaging activities the team has lined up.

My New Year’s message at the end of January laid out the vision and goals for 2018. Four months into the year and I am happy to report that we have had a fantastic commencement.

In my last message, I spoke of our commitment to enhancing the voice of the UK and the Chamber in Singapore. Our trade policy dialogue with Department for International Trade colleagues is one such avenue where we will push to get your views across and influence the policy environment. Our External Affairs Committee recently met to begin to put forward an agenda for the year with further updates to come. We will shortly be circulating our annual membership survey where we will be seeking your views and inputs on topics impacting your business, from trade to Brexit.

We are delighted to announce the launch of our Future of Work campaign. From April 2018 – March 2019, we will be presenting a curated series of events and content, offering you insights into the latest thinking on the topic. An e-publication of all activities and perspectives across our Business Groups on the Future of Work will be published at the end of the campaign. We will also be partnering in this significant series with our annual Platinum Sponsor, Prudential Assurance Company Singapore, a long-time supporter of the Chamber and proponent of workplace and workforce transformation. I would like to take this opportunity to also recognise our Annual Sponsors who have come on board with us so far for 2018. This includes our Gold and Diversity Sponsor Barclays; our Gold Sponsors The Fry Group and GEMS World Academy (Singapore); and our Silver Sponsors British Airways, Jardine Cycle & Carriage and St. James Place. Additionally, our partners The British Club.

Placing you at the heart of what we do is what the Chamber is about. Celebrating your business and your achievements is one such way and once again, we welcome you all to submit your entries to the Annual Business Awards which will feature our Future of Work theme for the year ahead. Entering their 19th year, our Awards are the longest running awards initiative by an international chamber of commerce in Singapore. They form a key event in our calendar and we hope as many of you as possible will enter to showcase your company’s achievements and also join us for the evening’s celebrations on the 27th September.

To end my message, I wish to welcome our incoming Board voted in at our Annual General Meeting held in April. I further wish to acknowledge and thank three members of our Executive team who have moved on; our Events Manager, Sophie Gowing and our two Business Services Advisors, Nico Putri Safari and Jessie Or. Like the rest of the team, they have allowed us to deliver and serve our Click here to view the full message

MESSAGE FROM THE PRESIDENT & EXECUTIVE DIRECTOR

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Meet New People With Howdy In line with the Chamber's mission of building networks, connecting businesses, and creating opportunities, and with a vision to incorporate more digital engagements for our members throughout this year, we are delighted to announce our partnership for 2018 with Howdy to help you meet the right people at our events and strengthen your connections in Singapore.

Founded in the UK and headquartered in Singapore, Howdy is a great networking tool that seeds and nurtures more meaningful connections to create opportunities and solve problems. With Howdy, you can plan your networking in advance by viewing profiles of attendees that have joined our event on Howdy.

Howdy’s mobile platform also facilitates in-event live polls and questions from attendees, which the Chamber will be using at key events throughout 2018 to enhance your event experiences. For events that are supported by Howdy, you will be able to connect and chat with attendees through the app.

Visit http://bit.ly/howdybcc to download the Howdy app and login using your LinkedIn account. You may also find Howdy via an App store on your phone.

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NEWS Future of Work Initiative How can your business gain from the opportunities that workforce, workplace and digital revolution offer?

There is no doubt that we are experiencing a period of transformation. From the Chamber’s unique vantage point across multiple industries, leadership styles and countries, from April 2018 - March 2019 we will be presenting a curated series of events and content offering you insights into the latest thinking with an e-publication of all activities and perspectives across our business group committees in conclusion.

We are delighted to be partnering in this significant series with Prudential Assurance Company Singapore, a long-time supporter of the Chamber and proponent of workplace and workforce transformation.

Look out for events and activities in our Future of Work series, which will be identified by the campaign logo and read more at www.britcham.org.sg/static-pages/future-of-work

Sponsorship Announcements We are delighted to announce that Prudential Assurance Company Singapore have partnered with the Chamber in a 5 year Platinum agreement effective from April 2018.

Roundtable with Antonia Romero, Permanent Secretary, Department of International Trade On 20th March 2018, Chamber members joined His Excellency Scott Wightman, the British High Commissioner, in a roundtable trade discussion with Antonia Romero and key DIT officials from the region. The conversation covered Britain’s new export strategy and trade policy, the importance of the ASEAN market and the role that British companies in ASEAN can play in supporting UK exporters looking to expand into the region.

Prudential joins our exceptional group of Annual Sponsorship partners – The Fry Group Asia (Gold), Barclays (Gold), GEMS World Academy Singapore (Gold), St. James’s Place Asia (Silver), British Airways (Silver), and Jardine Cycle & Carriage (Silver), who are all supporting the Chamber

Scottish Business Group The Chamber has agreed with Committee members that this group will cease and the objective of promoting Scotland is better served on a wider basis through our events and content.

NEWS:

FROM THE CHAMBER

NEWS:

AROUND THE CHAMBER

Realising the ASEAN Vision with TheCityUK

By Ashley Jones - Chairperson, Financial & FinTech Business Group The 27th of March marked the second meeting of the Chamber's Financial and FinTech Business Group along with TheCityUK. For those who have not come across the organisation before, TheCityUK is the industry-led body for UK based financial services and related professional services, committed to supporting the development of the sector.

wider financial services space.

There is evidently abundant energy to develop ASEAN capital markets and to facilitate such growth, global collaboration is important. The UK is one of the leading global financial centres and is very well placed to assist ASEAN economies which are seeking to develop their capital markets. The areas laid out are some of the many being considered.

There is scope for growth and collaboration as financial services evolve in the coming years. TheCityUK will undoubtedly be heavily involved with the UK government and industry partners working to influence policy, regulation, standards and helping to improve collaboration and global connectivity.

The Financial Services and FinTech business community in Singapore is delighted to have formed the connection with TheCityUK and look forward to a strong working relationship in the coming years and developing these objectives in conjunction with the British Chamber's business community.

Sushil Saluja, Chairperson for the ASEAN Market Advisory Group with TheCityUK and Owen Jelf, the global lead for Capital Markets with Accenture, introduced the latest paper from TheCityUK focused on ASEAN Capital Markets, titled ‘Realising the ASEAN Vision’.

Our group, comprising twenty British Chamber members, discussed the four key objectives covered by the paper: • Green finance: which concentrates on areas such as encouraging global bond issuance and offering tax incentives for green financing.

• Infrastructure financing: support identified here would include collaboration between public and private sectors through the aptly named public-private partnerships (PPP’s) and considering tax breaks for borrowers or tax credits for investors.

• Islamic finance: this sector of investment was calculated to be valued at close to USD1.9 trillion in 2015. Encouraging governments and corporates to issue and list bonds on recognised exchanges for example would help deepen and broaden the Islamic finance space. Other avenues considered included educating the international community, which would help to make Islamic financing more mainstream.

• FinTech: The UK has one of the leading FinTech ecosystems in the world and this sparked intense interest from the group. The focus here is providing an environment for bilateral collaboration between the UK and ASEAN. The Singapore-UK FinTech bridge was launched two years ago showing particular commitment between the UK and Singapore Financial Services regulators, the Financial Conduct Authority and the Monetary Authority of Singapore, to develop their FinTech sectors. FinTech has had a growing influence on financial markets and is considered by many as the engine for growth in financial services.

This is subjective of course but taking one area in isolation such as money services, estimates indicate the potential volume could reach more than USD3 trillion in a matter of years rather than decades. This gives an idea of the scale of the industry and the anticipated influence on the financial sector over time and does raise the question of the influence on the

Singapore Energy Briefing in London On 9th May 2018, the Chamber’s Energy and Utilities Business Group organised its first Singapore Energy Briefing in London in partnership with the Energy Institute. The session brought together experts to provide an overview of key energy development opportunities. It was fantastic to see the level of interest from British companies as the Chamber continues to promote trade opportunities for British business and strengthen partnerships between Singapore and the UK. We will look to facilitate similar initiatives with our Business Groups and British business in the future, particularly in industries where the UK is playing a leading role.

Please do contact us if you would like to partner on a similar project. Thank you to the Singapore Economic Development Board (EDB) for participating, our event sponsor, KPMG, and our supporting partner, UK-ASEAN Business Council (UKABC).

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Food is GREAT British Gourmet Dinner at The Queen & Mangosteen On 14th March 2018, the Department for International Trade together with British-themed restaurant Queen & Mangosteen (Q&M) hosted a British Gourmet Menu Showcase at VivoCity under the Food is GREAT campaign.

The year-long campaign in Singapore is aimed at positioning the UK at the forefront of Singapore consumers and businesses, and to encourage our audience to take a fresh look at British Food and Drink.

DIT together with Q&M treated their guests to a specially-curated menu of impeccably sourced UK products such as Wicks Manor Pork loin, Inverawe Salmon and Cornish clotted cream ice cream, paired with beverages such as Pimm’s, Bombay Sapphire Gin and Hobgoblin IPA. The UK food and drink industry has built a strong presence as a provider of quality products in Singapore, and continues to be appealing to Singaporeans. DIT will continue to

support British businesses in showcasing quality British Food and Drink to Singaporeans and link producers to this exciting market.

More pictures can be found on their flickr account.

Follow the Department for International Trade's Facebook account @UKinSG for similar events.

Britain in South East Asia News: British Malaysian Chamber of Commerce The BMCC turns 55 this year! In conjunction with this anniversary they will be hosting the first ever Business Excellence Awards in recognition of the very best individuals and companies across a range of categories. The Chamber is gearing up to gather over 400 attendees from all industries in a high-profile evening of exquisite dining, entertainment and celebration.

Happening on 12th July 2018 from 6.30pm onwards at JW Marriott Kuala Lumpur, the Chamber team hopes to see you at this not-to-be-missed gala spectacular. Table reservations and awards nominations are now open.

Visit www.bmcc.org.my for more information.

NEWS:

AROUND THE CHAMBER

NEWS:

MEMBER NEWS

DULWICH COLLEGE (SINGAPORE) On 19th April, Dulwich College (Singapore) was proud to host the relaunch of the Red Dot Book Awards Reader’s Cup. The Red Dot student’s choice book awards are an initiative of the International School Libraries (ISLN) in Singapore. Books are selected by a committee of teacher-librarians from recent children’s literature from around the world and are divided into four age-based categories with eight titles in each. Dulwich, in collaboration with other international schools in Singapore, worked hard to recreate the format of The Reader’s Cup to represent more of a festival-style event where students were able to celebrate the enjoyment of books as well as compete. This included collaborating with students from the other international schools on drama activities, puzzles and much more, based on the Red Dot Books. After weeks of rigorous reading, quizzing and preparation, students then competed in a variety of activities including quizzes on the selected books, creating a book trailer and creating a better book cover. The event was a tremendous success and the students had great fun celebrating reading in all its forms. Sarah Mounsey, Junior School teacher Librarian at Dulwich College (Singapore) states “We are delighted that The Reader’s Cup is back, as it is such a fantastic way to engage our students in books, reading and the library, at the same time as making connections with other international schools in the country”. For more information, please visit www.singapore.dulwich.org

MSIG INSURANCE

JDX CONSULTING

ENVIROSOLUTIONS & CONSULTING

Since 2013, MSIG Insurance has been partnering with global underwriting agency, DUAL, to provide specialised insurance solutions for Financial Lines products, including Directors and Officers (D&O), Professional Indemnity, Investment Managers, Management Liability, Association Liability and Cyber Liability & Data Protection covers. DUAL underwrites exclusively on behalf of MSIG, to bring together a flexible and comprehensive insurance package that will address the growing needs of its corporate clients, particularly for small and mediumsized firms. To help more companies get started on cyber protection, MSIG will be offering a bolt-on cyber risks extension for all Financial Lines products at no additional premium.

This basic cyber extension will cover the business costs for rectifying IT systems as well as third-party claims related to compensation up to an aggregate limit of S$100,000. For more information, please visit www.msig.com.sg.

JDX Consulting, the global financial services firm, announced on 26th April 2018 that it is working with IHS Markit, a world leader in critical information, analytics and solutions, to create an accredited KYC training course. The course, which combines their collective expertise, will act as pre-deployment training for all JDX consultants undertaking KYC projects. The accreditation is being rolled out to consultants globally with immediate effect. Jonathan Davies, Executive President of JDX said, “I’m extremely excited about our partnership with IHS Markit. This new accreditation will be extremely valuable to all of our global clients and will ensure that the quality of resources working in KYC continues to be at the highest standards. Between our two firms, we expect to have 300 trained resources within the next six months.” For more information, please

ESC partnered with French software company BlueKanGo to bring a comprehensive Quality, Environment, Health and Safety (QEHS) software solution to Singapore and the region.

ESC, a leading Environment, Safety and Risk consultancy in Asia, decided to enhance and improve our services by going digital. BlueKanGo is a fully customisable, user-friendly platform to boost the productivity of QEHS processes. They developed modules such as Permit to Work (PTW), Incident Management, Hazard Identification, Audits & Inspections and Training Management. The average company saves $300 per employee per year using BlueKanGo. Andrew Young, the group director of ESC, and Maximilian Ambros, responsible for BlueKanGo’s expansion in Singapore, are looking forward to improving QEHS performance for businesses in Singapore and the region. For more

visit www.jdxconsulting.com.

information please visit www. simplyehs.com.

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Achieving Sustainable Workforce Growth and Building the Talent Pipeline The outgoing Minister for Manpower, Minister Lim Swee Say, speaks to Chamber members on Singapore’s vision and plans to develop the country’s workforce

SPECIAL COVERAGE

SPECIAL COVERAGE:

ACHIEVING SUSTAINABLE WORKFORCE GROWTH AND BUILDING THE TALENT PIPELINE

How can we sustain Singapore’s economic growth through higher productivity and train for the future needs of the nation, while keeping the share of foreigners at about a third of the workforce? The challenge for the Ministry of Manpower is that the workforce growth rate of 4% per annum from 2012 to 2014 is not sustainable into the future, especially as local workforce growth is heading towards stagnation in the next decade. There is also a pressing need to make the workforce future ready, as Singapore’s economy undergoes a period of major transformation that requires new skill sets.

The Ministry’s foreign workforce policies have nudged Singapore towards a path of quality growth over the last three years, with higher productivity and slower workforce growth. During this period, the Ministry also engaged employers to communicate the country’s future economic direction.

Today, approximately 1.1 million foreigners are working in Singapore.

In a full capacity event for the British Chamber of Commerce on 5th April 2018, Minister Lim spent a highly engaging two hours in a two-way conversation with the Chamber’s member company representatives, explaining the thought process behind the Ministry’s local and

foreign workforce policies, and the progress that has been made so far.

Chamber members further shared their own experiences and in turn, provided suggestions and ideas to the Minister and his team.

How does Singapore set out to improve the skill sets and viability of employees within the country’s workforce? How does Singapore in turn leverage global talent to complement the local workforce in meeting business needs?

The Government has introduced a number of initiatives in recent years that are having a significant impact in transforming the economy. The 23 Industrial Transformation Maps, part of the Ministry for Trade and Industry’s wider Industry Transformation Programme, are targeted at clusters of key industry areas marked for transformation in the future. These include manufacturing, built environment, trade and connectivity, essential domestic services, modern services and lifestyle. To support the skills requirements for these industries, the SkillsFuture movement under the Ministry of Education seeks to upskill the Singapore workforce to be ready for these jobs.

The Minister reiterated that Singapore remains open to foreign professionals with skills needed by businesses Committed to developing a future ready workforce, Workforce Singapore’s Adapt and Grow initiative also supports Singaporean workers looking to make career transitions by building on their existing experience and skills.

The Minister reiterated that Singapore remains open to foreign professionals with skills needed by businesses. Few countries today operate such an open door policy to foreign professionals as Singapore in the context of a tight labour market, with no quotas, levies or source controls at the Employment Pass level. Furthermore, members present were reassured that the Government has no plans to stop foreign workforce growth. Rather, Singapore’s objective is to maintain a 2/3 : 1/3 balance between local and foreign manpower at a national level for the medium term, and calibrate growth in the coming years. At the industry level, the ratio may differ as the Ministry recognises the unique

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skills requirements of each industry and the ability of the workforce today to meet those needs.

a pipeline of strong local talent and have, as a result, been recognised for their investment and efforts.

During the dialogue, some members expressed concern about the scrutiny of Employment Pass applications for firms on the Fair Consideration Framework Watch list. The Minister said that this treatment only applied to a small number of companies with indications of unfair hiring practices. Of the approximately 500 (out of 34,500 companies that hire Employment Pass holders) which had been placed on the Watch list, about 150 companies had since improved their hiring practices and exited the Watch list. In the same period, over 2000 local professionals were hired by these companies.

To support all businesses which require global expertise that is lacking in the local workforce, the Ministry has

Some companies are going beyond the requirements of the Fair Consideration Framework and have adopted progressive HR practices to develop their human capital. They have been identified by the Ministry as their Human Capital Partners. Approximately 140 companies lead the way in fostering

recently launched the Capability Transfer Programme. In partnership with Workforce Singapore, the Ministry provides financial support and work pass facilitation for businesses that want to transfer global expertise to their local workforce. The Minister gave the example of the precision engineering sector, where expertise was limited in the local workforce and an industry facility had been created to support training delivered by experts based in Germany.

There was open acknowledgment of the importance of continued communication among MOM, employers and workers in order to achieve the required manpower transformation that industries will need in the coming years.

The Minister highlighted that at the heart of the Ministry’s approach to

building a sustainable and future ready workforce was a commitment to collaborate and engage with the business community and workers, which was aligned with Singapore’s tripartite model. This was a strong message that ended the Minister’s address to Chamber members.

To support all businesses which require global expertise that is lacking in the local workforce, the Ministry has recently launched the Capability Transfer Programme … financial support and work pass facilitation for businesses that want to transfer global expertise to their local workforce

Mr Lim addressed Chamber members and guests at an exclusive event on 5th April 2018. The above article content provides a summary of this dialogue and has been approved by the Ministry of Manpower for release.

Please visit www.britcham.org.sg/business-group-details/leadership-talent-professional-development for further information on the Chamber’s Leadership, Talent and Professional Development committee which organised this event. The Chamber is hosting a series of events and activities throughout 2018 relating to the Future of Work, visit www.britcham.org.sg/static-pages/future-of-work for the latest news.

SPECIAL COVERAGE:

ACHIEVING SUSTAINABLE WORKFORCE GROWTH AND BUILDING THE TALENT PIPELINE

BRITCHAM BOARD MEMBERS 2018/2019

BRITCHAM BOARD MEMBERS 2018/2019 We welcome the following board members who were elected at our Annual General Meeting on 10th April 2018

Bicky Bhangu President, S E Asia, Pacific & South Korea Rolls-Royce PRESIDENT

Damian Adams Partner Simmons & Simmons VICE PRESIDENT

Sian Brown Director, Chief Controls Office Barclays Bank PLC VICE PRESIDENT

David Fowler Senior Manager, Asset & Wealth Management PricewaterhouseCoopers LLP TREASURER

Andrew Vine Managing Director The Insight Bureau SECRETARY

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Richard Warburton Executive Director, Head of Financial Institutions, Asia Pacific Arcadis

Haslam Preeston Regional Managing Director Jardine Cycle & Carriage Ltd

Andrew Pickup Senior Director, Communications Microsoft Asia

Mark Chowdhry Partner Baxters International

Damian Hills President The British Club

Paul Kelleher Corporate Relations Lead Diageo

Rosie Danyluk Head of Communications & Executive Office BP Singapore

James Nesbitt Executive Director Standard Chartered Bank

Chris Pook Director for International Trade, Investment and Prosperity, SE Asia Department for International Trade

Roland Davies Director British Council

BRITCHAM BOARD MEMBERS 2018/2019

NEW MEMBERS

STERLING MEMBERS NTUC FAIRPRICE CO-OPERATIVE LTD NTUC Fairprice Co-operative Ltd was founded by the labour movement in 1973, with a social mission to moderate the cost of living in Singapore. From one supermarket, we have grown to become Singapore’s largest retailer serving over half a million shoppers daily, with a network of over 140 outlets, comprising FairPrice supermarkets, FairPrice Shop, FairPrice Finest and FairPrice Xtra. Our convenience arm comprises a network of over 160 FairPrice Xpress and Cheers convenience stores, which serve over 100,000 customers daily. FairPrice Online offers a hassle-free online shopping experience. NTUC FairPrice also owns a Fresh Food Distribution Centre and a centralised warehousing and distribution company. For more information visit www.fairprice.com.sg Representative Member: Lynn Chong, Assistant Director

JARDINE LLOYD THOMPSON ASIA PTE LTD JLT is one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT is quoted on the London Stock Exchange and owns offices in 40 territories with more than 10,600 employees. JLT Asia, a subsidiary of the JLT Group, is a market leader in insurance & reinsurance broking, risk consultancy and employee benefits services. We have more than 1,800 employees in 14 major countries and territories across Asia. For more information visit www.asia.jlt.com Representative Member: Stephanie Fong, Senior Manager

LYNXEYE BRAND MANAGEMENT CONSULTANTS Lynxeye is a global brand management consultancy. Our offices in Singapore, Stockholm and London are strategically positioned to serve our international clients such as Volvo, Spotify, Pernod Ricard, SAS, Geely and Samsung. Our expertise spans across Management Consulting, Consumer Insights, Sustainable Innovation and Strategic Design. We exist to create progress with purpose, to make brands matter and to help businesses identify opportunities in a world where the future is harder than ever to predict. At the point where profound human insight, foresight and business understanding intersect, we reveal insights into tomorrow’s needs, define meaningful future roles for brands, and turn strategies into reality and progress. For more information visit www.lynxeye.com Representative Member: Lucien Harrington, Managing Director APAC

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CORPORATE PLUS MEMBERS CARGOTEC CHS PTE LTD – BROMMA Bromma is the industry's most experienced spreader manufacturer, known worldwide for crane spreaders of exceptional reliability. Bromma has delivered spreaders to more than 500 terminals in over 90 countries in 6 continents. Today, Bromma manufactures close to 2,000 spreaders of all types per year. In fact, anywhere you go, if you work where containers are transported, you're likely to see a Bromma spreader in action. With our extensive network of offices and partners around the world, no one supports spreaders like Bromma.

Bromma's total quality management program has resulted in Bromma factory being awarded ISO9001, ISO14001, OHSAS 18001 and ISO3834 certification - the first spreader manufacturer to be so recognised. Cutting edge technology is only one reason why customers choose Bromma. For more information visit www.bromma.com Representative Member: Peter Cederholm, Senior Vice President

WORKFORCE SINGAPORE Workforce Singapore (WSG) is a statutory board under the Ministry of Manpower (MOM). It will oversee the transformation of the local workforce and industry to meet ongoing economic challenges. WSG will promote the development, competitiveness, inclusiveness, and employability of all levels of the workforce. This will ensure that all sectors of the economy are supported by a strong, inclusive Singaporean core. While its key focus is to help workers meet their career aspirations and secure quality jobs at different stages of life, WSG will also address the needs of business owners and companies by providing support to enable manpower-lean enterprises to remain competitive. It will help businesses in different economic sectors create quality jobs, develop a manpower pipeline to support industry growth, and match the right people to the right jobs. For more information visit www.wsg.gov.sg Representative Member: Tarcisius Wong, Head

CORPORATE MEMBERS SPURWING COMMUNICATIONS PTE LTD Spurwing is an independent strategic communications consultancy. We have a strong track record in delivering strategic programmes for leading businesses in Asia Pacific that inspire change, build trust and lead from the front. With a heritage strongly rooted in the healthcare, nutrition and food sectors, our team of specialists design programmes that are founded on solid research and intelligence, helping businesses operating in highly regulated markets navigate complex issues and protect their license to operate. Spurwing handles all aspects of strategic communications, supporting both external and internal engagement strategies. For more information visit www.spurwingcomms.com Representative Member: Emma Thompson, Managing Partner

THE GRANGE INSTITUTION PTE LTD The Grange Institution (known as The Grange) Singapore is a boutique international primary school – just one class in each year group – for four-to-eleven year olds, who are dependent pass holders and looking for an international curriculum education. The school is British in nature – calendar, curriculum, ways of schooling – but very international in its thinking and its approach. For more information visit www.thegrange.edu.sg Representative Member: Desmond Kwan, Marketing & Business Development

NEW MEMBERS

NEW MEMBERS

CORPORATE SME MEMBERS AYM DESIGN PTE LTD Aym Design specialises in developing layout plans that are uniquely tailored to suit all the needs of your company and staff. We help you take your branding from paper to your physical space, allowing your office to be a reflection of everything your company stands for. We also spend time dedicating ourselves to understanding exactly how you and your staff work, allowing us to create a space that maximises productivity. From the reinstatement of your old space to moving you into the new space, we have you covered. For more information visit www.aymdesign.com.sg Representative Member: Amy Picanco, Founder and Principal Designer

CULT WINES LTD Cult Wines is the UK’s leading fine wine investment specialist, providing individuals who invest in the fine wine market with a fully managed portfolio service tailored to their investment objectives. Founded in 2007, the company has grown to become Europe’s leading wine investment company managing private client portfolios on behalf of 1,500 investors across 40 countries worldwide, with current assets under management of £25 million. For more information visit www.wineinvestment.com Representative Member: Marcus Allen, Director of Business Development

DRAMATIC DIFFERENCE Dramatic Difference develops high performance people to inspire and lead change, communicate confidently, and build diverse, collaborative teams. They do this through a blend of interventions; training & facilitation, executive coaching and theatre-led learning and work with clients across Asia-Pacific and beyond. For more information visit www.dramdiff.com Representative Member: Sean Joseph Worrall, Director

MHR INTERNATIONAL UK LIMITED MHR is a specialist provider of software and outsourcing services for HR, talent management, payroll and business intelligence. We have over 30 years’ experience in the HR and payroll industry developing a unique combination of software and services. Research and development is important to us which is why we invest up to 20% of our turnover in research and development. While our £10m building expansion project includes a brand new state-of-the-art data center to keep customer data safe and secure.

For more information visit www.mhr.co.uk Representative Member: Andrew Robert Jones, Senior Vice President Asia Pac

QUINTESSENTIALLY Award-winning luxury lifestyle management & concierge services agency. Directly servicing the world's high net worth since 2000, we are truly the wish fulfillment empire; saving our private members up to 30 hours a month and providing access to the most sought after experiences, fine dining, bespoke travel and events. Our unparalleled understanding of the high net worth is trusted and relied upon by the world's best brands to elevate their relationships with their best clients.

For more information visit www.quintessentially.com Representative Member: Dayu Au, Managing Director (Singapore)

SOMERSET CAPITAL MANAGEMENT Founded in 2007, Somerset Capital Management is an employee-owned Global Emerging Market equities firm. We manage concentrated long only portfolios for a range of international institutional clients and the firm currently has US$10bn under management.

Representative Member: Timothy Hay, CEO Asia

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UPCOMING EVENTS Visit our Upcoming Events page at http://bit.ly/showmeevents to find out more about the following events, or contact the events team at events@britcham.org.sg

NAME

TIME

VENUE

06 June 2018

Insights into Paya Lebar Quarter – A Progressive and Sustainable New City Precinct

4:30 PM 7:30 PM

Paya Lebar Quarter, Marketing Suite, 60 Paya Lebar Road, #11-48 Paya Lebar Square, S 409051

08 June 2018

Bringing Mindfulness into the Workplace

7:30 AM 10:00 AM

Virgin Gym, 7 Wallich Street, #06-01 Tanjong Pagar Centre, S 078881

12 June 2018

Start-up Series: Life Cycle of an Employee

12:00 PM 2:00 PM

British Chamber of Commerce, 39 Robinson Road, #11-03 Robinson Point, S 068911

13 June 2018

A UK Outlook: Optimising the Residential Property Market

6:30 PM 8:30 PM

British Chamber of Commerce, 39 Robinson Road, #11-03 Robinson Point, S 068911

19 June 2018

ICT Joint Networking Evening with AmCham and FrenCham

6:30 PM 8:30 PM

&Sons Bar 20 Cross St, S 048422

20 June 2018

ASEAN In Focus: Malaysia

8:00 AM 10:00 AM

Shangri-La Hotel, 22 Orange Grove Road, Singapore 258350

DATE

EVENT SPONSOR

UPCOMING EVENTS

BREAKFAST CLUB EVENTS CMO SERIES: A New Marketer - Accelerate Sales with Insight Marketing 9 February 2018 Visit www.britcham.org.sg/events/past-events/2688 to find out more about this event.

Energy Transition – Navigating Change in Singapore 2 February 2018 Visit www.britcham.org.sg/events/past-events/2681 to find out more about this event.

Adapting Your International Brand for the Asian Market 16 March 2018 Visit www.britcham.org.sg/events/past-events/2702 to find out more about this event.

Artificial Intelligence - Potential or Peril?

3 April 2018 Visit www.britcham.org.sg/events/past-events/2708 to find out more about this event.

GDPR and Why Marketers Should Make Privacy a Brand Asset 13 April 2018 Visit www.britcham.org.sg/events/past-events/2690 to find out more about this event.

Beyond Brexit: New Opportunities for the City of London in Asia 8 May 2018 Visit www.britcham.org.sg/events/past-events/2718 to find out more about this event.

Understanding & Implementing Compassionate Leadership 11 May 2018 Visit www.britcham.org.sg/events/past-events/2711 to find out more about this event.

THE BREAKFAST CLUB SERIES IS SPONSORED BY:

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RECENT EVENTS Extraordinary Leadership for an Increasingly Complex & Socially Conscious World 1 March 2018

Visit www.britcham.org.sg/events/past-events/2696 to find out more about this event.

Venue Sponsor

Joint Networking Evening with AustCham 12 April 2018 Visit www.britcham.org.sg/events/past-events/2699 to find out more about this event.

Sponsored by

Partner

Interchamber Rugby 7's Networking 25 April 2018 Visit www.britcham.org.sg/events/past-events/2710 to find out more about this event.

EVENING EVENTS

SPECIAL EVENTS

Member Exclusive Business Tour of Hubtricity by StarHub 14 March 2018 Visit www.britcham.org.sg/events/past-events/2700 to find out more about this event.

Myanmar - Energy Infrastructure Development Opportunities 18 April 2018 Visit www.britcham.org.sg/events/past-events/2707 to find out more about this event.

Sponsored by

Partner

START-UP SERIES

Navigating Singapore Immigration & Recruitment Regulations 23 March 2018 Visit www.britcham.org.sg/events/past-events/2706 to find out more about this event.

B2B Sales in Asia 18 May 2018 Visit www.britcham.org.sg/events/past-events/2704 to find out more about this event.

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BritCham Open House 22 February 2018 Visit www.britcham.org.sg/events/past-events/2698 to find out more about this event.

Sponsored by

International Women's Day with BritCham: Let's #PledgeforParity 8 March 2018 Visit www.britcham.org.sg/events/past-events/2689 to find out more about this event.

Sponsored by

Economic Briefing with Professor Danny Quah 13 March 2018 Visit www.britcham.org.sg/events/past-events/2705 to find out more about this event.

Sponsored by

Supporting Sponsor

Annual General Meeting 2018 10 April 2018 Visit www.britcham.org.sg/events/past-events/2703 to find out more about this event.

ANNUAL EVENTS

BUSINESS SERVICES EVENTS

B2B Networking Reception with guests and UK Pavilion exhibitors from the Singapore Airshow 7 February 2018

An evening with the Master of Marlborough College Malaysia 2 March 2018

Firefly Roadshow 1 March 2018

UK TVET Trade Mission: Plenary Discussions NDT Visit Programme 26-27 February 2018

Chartered Institutes Trade Mission 18 April 2018

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Reception for E.A. Gibson 125 year Anniversary and Ten Years in Singapore 19 April 2018

Santander UK Trade mission to the Food & Hotel Asia (FHA) Show in Singapore 24 April 2018

Launch of the BSc(Hons) Joint Degree Programme in Biological and Biomedical Sciences between NUS and University of Dundee 26 April 2018

The Baltic Exchange Cocktail Party 24 April 2018

BUSINESS SERVICES EVENTS

SPECIAL FEATURE:

REPAVING THE ANCIENT SILK ROUTES

Repaving the Ancient Silk Routes

By David Wijeratne, Partner and Growth Markets Centre, PwC China’s Belt and Road initiative presents numerous opportunities for foreign companies to be involved.

33

SPECIAL FEATURE:

REPAVING THE ANCIENT SILK ROUTES

SPECIAL FEATURE:

REPAVING THE ANCIENT SILK ROUTES

When the Belt & Road Initiative (BRI) was first announced by President Xi Jinping in late 2013, few could have envisaged the grandeur and ambition that it would entail. The initiative seeks to involve 68 countries and international agencies along six economic corridors and will impact one third of the global economy. Most importantly, it will serve as a catalyst for infrastructure development in some of the least developed countries in the world, which will drive their economic growth through stimulating trade and creating domestic jobs.

Despite these wide reaching benefits, many BRI commentators have been too quick to narrowly label the BRI as a purely geopolitical play by China to strengthen its influence across East and Central Asia. However, the BRI is a complex and multi-dimensional one with multi-pronged goals. It will, on one hand, provide markets to digest China’s industrial overcapacity and facilitate trade with and between the participating countries, while also potentially strengthening its diplomatic relations globally. Beyond this, it will also enable China to gain global recognition in developing complex transnational infrastructure projects, such as high speed rail networks.

Belt and Road is an “away game” for China

With BRI activities taking place in over 60 developing countries outside of China, the country finds itself in an “away game”, which raises numerous new challenges. While China’s state owned enterprises (SOEs) and their domestic supply chain players have plenty of experience in managing infrastructure projects within China, many are still in the early stages of internationalisation.

Operating in unfamiliar and complex territories especially in developing countries along the Belt & Road – such as Kazakhstan – presents issues such as managing different public and private interests, navigating varying or unclear regulations as well as uncertain political environments. In addition, operating in a different environment also means potentially working with new and lesser known suppliers and coping with new logistics difficulties.

Foreign companies are well-placed to play a value-added role to China’s SOEs in this “away game”. In the BRI, foreign companies ought to be thinking of an ‘Out-Of-China strategy’ rather than an ‘In-China strategy’, with regards to partnering with Chinese SOEs and how they can best leverage their strengths and experience to support Chinese companies along the Belt & Road.

Foreign companies can therefore consider being bolder in putting forward their rich international

experience of operating in developing, complex markets and emphasise their world class capabilities that will support Chinese SOEs in developing the broad portfolio of infrastructure projects which make up the BRI. There is already a global competition to partner with Chinese SOEs in the BRI, which is intensifying. Leading multinational companies such as General Electric, Siemens, and ABB have established collaboration with key Chinese state-owned enterprises. Time is therefore of the essence, and foreign companies must take a proactive approach in reaching out to Chinese stakeholders and to identify key commercial opportunities in the massive BRI. Six key opportunity areas for foreign companies to be involved We believe there are initially six key areas for foreign companies to participate in the BRI.

The Belt & Road Initiative is a global engagement with multi-pronged goals

35 experience.

4. International project managers to provide international project management expertise, especially for complex, large-scale Belt & Road projects in remote locations, which require managing multiple stakeholders.

5. Global Operators to manage and operate new facilities and bringing operational expertise in managing the newly constructed infrastructure effectively, profitably and sustainably.

6. Foreign companies may divest assets to the Chinese companies or companies along the Belt & Road who are keen to acquire assets to enhance existing capabilities.

Unique Belt & Road considerations Despite these opportunities, BRI projects bring with them a unique set of challenges.

1. Investors to bankable infrastructure projects, either by co-investing with Chinese players, or by co-investing with existing Chinese financing instruments such as the Silk Road fund.

2. Pure suppliers may supply advanced construction equipment, machinery and cutting-edge solutions for infrastructure projects.

3. Engineering, Procurement and Construction (EPC) firms to partner with Chinese EPC firms. Foreign companies with recognised international experience in large-scale infrastructure projects or in dealing with local EPC firms of the respective Belt & Road countries could partner with Chinese firms to share their

Geopolitical and regulatory risks – Changes in political regimes or bilateral relations between countries involved in the BRI could occur during a project’s lengthy lifespan, while inconsistencies in regulatory regimes also affect projects that are involved in monopolistic sectors or operate assets in the national security interests.

Funding and operational risks – Many Belt & Road markets have less developed risk allocation, regulatory frameworks and contracts, thereby increasing the risk associated with the ability of host governments or infrastructure users to repay loans.

Foreign companies also ought to remain vigilant in operational planning, as operational risks can result from gaps in experience in managing

ABOUT THE AUTHOR David Wijeratne is a partner with PwC Singapore. He leads PwC’s Growth Markets Centre, a global team which supports companies enter and expand to and from emerging markets. He and his team are the primary authors of PwC’s Belt & Road report, Repaving The Ancient Silk Routes.

ABOUT THE COMPANY PwC’s Growth Markets Centre (GMC) is focused on supporting companies successfully enter and expand profitably in emerging economies. The GMC comprises experts from across PwC’s

different complex and new stakeholders compounded by more complex Belt & Road projects, which can result in delays or cost overruns.

Positioning for success Once the project or investment is identified, it becomes very important for investors in Belt & Road projects to then position themselves for success.

One key aspect of a successful BRI strategy is the design of contingency plans to address challenges in emerging Belt & Road countries, such as the lack of robust transport networks, time consuming bureaucratic processes and so forth.

PwC’s advice to companies moving into new markets or frontiers is to always find trusted local partners who can support with their understanding of local issues, government bureaucracy and local project management risks.

Risk allocation is another important consideration in Belt & Road projects where there are typically more stakeholders who exercise a large influence on the occurrence of the risk.

Companies can consider ways to share risks with local players involved in Belt & Road projects, such as waiving the need for a performance bond, carrying the cost of some equipment onto the local partner’s books, or developing a revenue-sharing mechanism.

The BRI is a vast and ambitious programme. Its multi-dimensional construct makes it incredibly complex, but by carefully evaluating and planning for specific Belt & Road risks, companies can participate in undoubtedly the largest transcontinental infrastructure programme the world has ever known. And it is only just beginning.

network, dedicated to ensuring that companies receive the full benefit of PwC’s global expertise (including Strategy, Operations, Deals, Talent and Tax) to assist them in growing profitably in developing economies – ranging from frontier markets such as Myanmar, to more established ones such as China, India and Brazil. We help companies address the key issues they face in developing the appropriate strategies and business models to achieve profitable growth in these complex markets.

SPECIAL FEATURE:

REPAVING THE ANCIENT SILK ROUTES

IN FOCUS INTERVIEW WITH THE EDITOR:

SAM FISCHER, PRESIDENT, GREATER CHINA & ASIA, DIAGEO

In Focus:

Sam Fischer, President, Greater China & Asia, Diageo

By Lucy Haydon The Asia region now accounts for 1/3 of global alcohol consumption and 20% of Diageo’s net sales. In this issue’s In Focus interview, President of the region, Sam Fischer, talks to me about market entry, showcasing their proud brand stories and heritage, creating bespoke experiences to meet demand, and Diageo’s outstanding gender diversity achievements.

37

IN FOCUS:

SAM FISCHER, PRESIDENT, GREATER CHINA & ASIA, DIAGEO

IN FOCUS:

SAM FISCHER, PRESIDENT, GREATER CHINA & ASIA, DIAGEO

You joined Diageo in 2007 as the General Manager for IndoChina and in the years since have assumed responsibility for first South East Asia and latterly the Greater China region.

How have you developed a strategy to build a brand following in this region for products with such a strong heritage outside of Asia?

When you look at the breadth of the region, it is not one size fits all for our business. In each of the markets, we would have looked at local consumers and insights, understood the existing categories (e.g. scotch, rum, vodka) and potential categories for our portfolio of brands. It always starts locally, as categories will be at different levels of development in each country. We look at which of our existing portfolio will be most appropriate for the customers and consumers in that country and then develop our brand stories, purpose and positioning of our brands for the local market. It is not as simple as taking what we have and launching the same road map in every market. Once we understand the market and consumer locally, we tailor our brand plans to make them relevant to the consumers in that country.

Are there any markets you have been surprised by?

We are constantly looking for incremental opportunities through participation in different categories, innovation, and new channels of distribution. In China, there is undoubtedly an opportunity for our international brands but there is also the unique category of baijiu. This is the largest spirit category in the world and is only found in China, so of course we want to participate in this market and this category. We have a unique position in China, being the only international spirits company with direct participation in baijiu with our stake in Shui Jing Fang, an established local super premium brand with 600 years of heritage. In Australia, we own Bundaberg Rum, which is iconic in the country and fits well in our portfolio.

Eventually you have a blend of local flavour and international brands.

The Johnnie Walker private suite we are seated in today (see photo above) is an example of catering to the luxury, high net worth market with your scotch portfolio. How are you able to differentiate yourself in the market for this client base?

In each of the markets we have looked at local consumers and insights, understood the existing categories and potential categories for our portfolio of brands… Once we understand the market and consumer locally, we will develop platforms to tell our stories through localised marketing to make our brands relevant to the consumers in that country.”

According to the Scotch Whiskey Association, a record 1.7 million tourists visited scotch distilleries last year and amongst those many visitors came from Asia with the number of Chinese visitors growing 154% in admissions and revenue at our Diageo distilleries. When you look at regional premium trends and the explosion of high net worth individuals, we find that knowledge and experience can generate moneycannot-buy opportunities that these clients enjoy.

39 women currently make up 44% of our Board, 40% of our Executive Committee and 30% of our global senior leadership team. We do very well in general across the region in senior leaders though there is always work to do. Why do we do this? Not because we have targets to hit as a tick box exercise. It is diversity of style, of culture, of gender, that has allowed us to build examples within our own business of diverse teams delivering better results. So it comes from a core belief that having diverse teams allows us to have a far richer conversation around various business outcomes, so that we can make better decisions that lead to better performance. You have to start there, with everyone on board with this core belief. If our people don’t believe that diversity will be a key component of the company’s success, we will never shift the dial.

With scotch whiskey, it is an investment, there is an educational element, it is aspirational with multiple participation levels, it is rare, it is finite, it is not something that is accessible to all, so we realised that there is a significant community building who were looking for unique experiences and the opportunity to learn more. We tried a few different things, such as the Johnnie Walker Houses and unique ranges of products, but the private suites, based in our offices, are invitation-only and combine many of the elements this subset of clients are looking for. The experience begins with the history and stories, access to talk to the world’s leading experts back in Scotland, showcases of products, sampling of course which is a highly personal experience based on the person’s tastes, and eventually bespoke purchasing opportunities. We also have a Finishing Centre in Tuas, West Singapore for luxury products, where a customer can request a customised design for their bottles.

I read with interest the news of the investment in the Johnnie Walker visitor experience and upgrades to existing visitor centres in Scotland.

With a strong Scottish contingent

throughout the British Chamber in Singapore, our readers will be interested to learn more.

We have an immense amount of pride in our brand homes and their heritage.

For example, the Guinness Storehouse in St. James’s Gate, Dublin, is not only a fantastic physical space and tour, it is a wonderful, proud moment for the brand. With scotch whiskey, we saw an opportunity for us to build brand homes that tell those stories. The GBP100m investment in Edinburgh is a reflection of this and the general increase in Scottish tourism investment. We are also upgrading visitor centres for our classic malt brands, all to create a fuller whiskey experience for people.

Diageo as a global company has a strong diversity and inclusion culture.

For SG50 you were a “Champion of Change” for Boardagender, and recently Diageo Plc has joined the LGBT+ “Open for Business” alliance of companies committed to supporting inclusion. How is this drive implemented at a local level in the workplace culture?

Then you get into the talent pipelines, and how to effect change. How do we create an inclusive environment that fosters diversity, particularly within senior management? When we are recruiting, how do we make sure that we have the opportunity in the process to consider everyone fairly? It runs throughout the business and we do get more prescriptive to implement policies, but it must start with the belief. An inclusive environment, where people feel comfortable in progressing and pursuing their careers without unconscious bias, has to be continually fostered. Positive intent is not enough to achieve the kind of results we have seen. There are lots of capable women in our business who may not have considered senior leadership had we not focused on the creation of an environment that fully supports them to pursue all of their work ambitions in the context of other considerations e.g. family.

At a brand level, on International Women’s Day this year we launched a “Jane Walker” expression of Johnnie Walker, our tribute to the women who play a huge role in building our brand and the many achievements of women in wider society. This received mixed reviews as some thought we were commercialising the subject, but we are proud of our progress. I happened to have one of only 250 000 bottles produced, the only one in Singapore, and brought it out during a speech at the Lean-In function happening in our office that day to a standing ovation.

It starts with the senior level, where

IN FOCUS:

SAM FISCHER, PRESIDENT, GREATER CHINA & ASIA, DIAGEO

IN FOCUS:

SAM FISCHER, PRESIDENT, GREATER CHINA & ASIA, DIAGEO

Diageo has a clear commitment to ensuring your products are enjoyed responsibly, showcased at our own BritCham Ball event in December 2017 when a floor-to-ceiling #jointhepact anti-drink and drive pledge board from Johnnie Walker was signed by many of our guests. What steps can you take to ensuring alcohol plays a positive role in society?

Responsible drinking is a significant piece of our company mission and culture and our efforts start with rolemodelling and advocacy, like the Johnnie Walker #jointhepact movement. As an industry leader, we recognise our responsibility in ensuring that alcohol is consumed in moderation. Irresponsible drinking is damaging not only to people and communities, but to our business and reputation, so it plays an important part in what we do across all markets.

Women currently make up 44% of our Board, 40% of our Executive Committee and 30% of our global senior leadership team… It comes from a core belief that having diverse teams allows us to have a far richer conversation around various business options, so that we can make better decisions that lead to better performance.

Our efforts are often in partnership with governments such as teaching programmes within communities, clear labeling standards and the education of appropriate alcohol amounts. Our education programme DRINKiQ trained more than 37,000 people in 2015,

ABOUT THE COMPANY Diageo is a global leader in beverage alcohol with an outstanding collection of brands across spirits and beer – a business built on the principles and foundations laid by the giants of the industry. Every year Diageo companies produce more than 6.5 billion litres of spirits from more than 100 manufacturing sites in 30 countries. Brands in the Diageo portfolio include internationally recognised products such as Johnnie Walker, Smirnoff, Captain Morgan, Baileys, Tanqueray, and Guinness and expand to a collection of over 200 brands enjoyed in more than 180 countries. For more information visit www.diageo.com.

including hospitality industry trainers, students, traffic police, bus drivers, members of the lifestyle media and professional sports clubs. In the emerging markets, we have focused more on underage drinking through Smashed, a theatre programme which is being rolled out in Taiwan, China, Thailand, Indonesia, Cambodia and Vietnam and launching soon in Australia.

We also take our individual brand missions and use those stories through our marketing efforts to communicate the message at a product level to consumers. This is a core purpose of the brand rather than paying lip service to the issue.

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B2B Brands and the Power of Why

By Poppy Robinson, Regional Director, Bray Leino Singapore Making B2B brands stand out from the crowd is what gets Poppy and the Bray Leino team out of bed each day.

Being good at what you do isn’t enough anymore.

Now your customers want to know ‘why’ you do what you do and what that means for them.

FEATURE:

B2B BRANDS AND THE POWER OF WHY

FEATURE:

B2B BRANDS AND THE POWER OF WHY

B2B marketing, as an industry, is particularly good at some things. It really understands demand generation. Its use of email borders on an art form; and its application of automation and hence, in recent years, its passion for data, is well documented.

But when it comes to articulating brand purpose, B2B brands often fall behind their B2C counterparts.

Every business knows what it does.

Most businesses can explain, in reasonably compelling terms, how they do it. But explaining the ‘why’ remains a skill that many B2B brands find difficult.

In the B2C world, where so much of the purchase decision is based on emotion, on the ‘gut’, marketers have honed the strategies and techniques to articulate brand purpose. It’s no coincidence that notably strong B2B brands tend to be wedded to consumer businesses; HP, IBM, Siemens, Visa; the list goes on. The brand equity, the emotional resonance, that they cultivate with their audiences in the consumer world permeates their B2B brand. After all, most if

not all B2B brands have an end consumer in mind.

Why is this important? Because the lines between the B2B and B2C worlds are blurring. Forwardthinking B2B marketers understand that purchase decisions are made by human beings, regardless of which side of the B2B/B2C line they fall. And people’s experiences in the consumer world, with brands like Apple, Uber and Amazon, have increased their expectations of all brands. Just showing what your business can do isn’t enough anymore. To resonate with your customers, they need to know who you are and what you stand for as a business.

Simon Sinek, in many ways the father of purpose driven brand marketing, sums it up like this: “People don’t buy what you do, hey buy why you do it”.

What exactly do we mean by purpose, by the ‘why’? Profit and growth are not your purpose, they are the results of ‘what’ you do.

We’re talking about the deeper ‘why’. Why your company or brand exists beyond growth and

generating revenue.

If that sounds like marketing fluff, then think about this. In his 2011 book ‘Grow’, the former Proctor and Gamble CMO, Jim Stengel, presented the results of a decade long study involving 50,000 brands.

It found that brands which articulated a purpose around improving people’s lives were significantly more successful than their category competitors. Every single one in the top 50 had a clearly articulated purpose, and these grew three times faster than the rest.

For the people that you need to convince the most, your own staff, showing real purpose can be everything. With generation X and

You can’t fake it, or you risk projecting dissonance where words and actions contradict each other

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millennials continuing to represent a large proportion of the workforce, the need for brands to be clear and genuine about their ‘why’ is an accelerating trend in B2B. Three quarters of millennials believe businesses should be cultural benefactors, while nine out of ten millennials and gen-Zers feel brands should do more good, not simply be ‘less bad’.

There’s a classic, often cited, example that illustrates this. John F. Kennedy, on a 1961 tour of NASA headquarters, stopped to speak to a janitor who was mopping the floor. When Kennedy asked him what he did at NASA, the man replied, “I’m helping to put a man on the moon”.

“Putting in long hours for a corporation is hard,” says Tesla founder Elon Musk. “Putting in long hours for a cause is easy.” People who work for Tesla are driven by the brand’s ambitious purpose, “to accelerate the world’s transition to sustainable energy”. Customers buy Tesla’s products because the brand’s purpose is clear and relevant to their lives.

At Bray Leino, we help businesses define their ‘why.’ Often, it’s about

helping them to articulate what they contribute, to their industry, to society, to sustainability, or environmental and social issues.

But this isn’t just CSR. Most often, it’s about what they contribute to their customers. Many B2B brands become so focused on what it is they want to say, they forget to look for what it is their customers want to know, the information that will really make them engage with the brand. The fact is, customers often aren’t interested in what brands want to tell them. They are concerned with the details of their own business. Brands become relevant when they align with these interests and individual goals, so it’s essential to ensure you know what they are.

Establishing brand purpose is an exercise that touches every part of an organisation, and the big challenge with B2B clients is understanding the differing needs of the various stakeholders in the business, and ensuring that the message is relevant and appropriate for all. You can’t fake it, or you risk projecting dissonance where words and actions contradict each other. In today’s world, where feedback through

ABOUT THE AUTHOR In 2014, Poppy Robinson brought Bray Leino, an award-winning communications agency, to Asia; starting the journey in Singapore, but before long expanding around the region. Poppy and her team work with a range of clients from SMEs to MNCs spanning many different industries from banking and finance to marine and energy, keeping life interesting.

Her love for travelling around Asia combines nicely with her expertise in traditional media, digital and events to enable her, and the team at Bray Leino, to deliver integrated B2B and B2C campaigns for clients all around the region.

ABOUT THE COMPANY Bray Leino is an integrated communications agency with creative, branding, digital, training

social media is immediate, public and indelible, the spotlight quickly shines on organisations that don’t live up to their own values.

Your ‘why’ is your reason for existence.

State it clearly.

A clear ‘why’ is a thread that runs through everything you do. It’s the rule of thumb that every decision and strategy can be measured against, product strategy, NPD, even M&A activity. It’s the sanity check that ensures all the integrated components of your communication strategy are aligned and working in harmony.

Your ‘why’ is your reason for existence. State it clearly. Act upon in, and give your customers something to connect with; something to trust.

and events under one roof, creating campaigns for clients like British Airways, Castrol, Allianz and Visa.

Headquartered in the UK, with offices in the US and across Asia, Bray Leino’s integrated approach enables B2B brands to articulate complex products and solutions in a way that makes businesses stand out. We’re also part of the Mission Marketing Group, a UK publicly listed communications group consisting of 13 specialist creative agencies giving us the scope and resources of a large network, while offering the personal touch of a boutique agency.

To find out more about how Bray Leino can help your business to express your ‘why’, please visit www.brayleino. co.uk/asia or contact us at enquiriesasia@brayleino.co.uk

FEATURE:

B2B BRANDS AND THE POWER OF WHY

FEATURE:

THE REAL TRUTH ABOUT GENDER DIVERSITY: WHY NOW IS THE TIME TO INVEST IN FUTURE FEMALE LEADERS

The Real Truth about Gender Diversity: Why Now Is the Time to Invest in Future Female Leaders

By Dr. Zsuzsanna Tungli, Managing Partner, Developing Global Leaders Asia 2017 saw a new record as the number of female CEOs on the Fortune 500 increased by more than 50%. We tend to think we are moving forward when it comes to gender equality. But how far have we really come? Despite the record levels of female CEOs, this number still only represents 6% of the entire Fortune 500 list. Dr. Tungli explains why organisations can no longer afford to ignore the leaks in their female pipeline for senior leadership. Diversity has become a crucial competitive capability.

Make no mistake, diversity is hard.

In today's uncertain world, there are no champion models for diversity. In fact, the 2018 Global Talent Competitiveness Index reveals that no country or company has completely cracked it yet.

While Singapore is ranked second for its talent competitiveness, further research indicates that women remain under-represented here in leadership roles. 2017 findings show that women held just 12.2% of board seats among the Top 100 listed firms in Singapore.

In today's volatile and complex global economy, staying

competitive requires a level of agility, problem-solving and innovation that only diverse teams can achieve. Different studies now prove that companies with greater diversity outperform their peers. As McKinsey & Co.’s 2015 research reveals, gender diverse companies in the top quartile financially outperform those in the bottom quartile by 15%.

The business case for female representation in senior leadership is compelling. The business case for female-centric leadership programs is even more so.

Gender diverse companies in the top quartile financially outperform those in the bottom quartile by 15% (McKinsey & Co., 2015)

45 Of particular interest is the recent research that sheds light on the different experiences of men and women in terms of their career growth. Bain & Co describes it as a female "crisis of confidence". Both genders enter the workforce equally confident of reaching the senior executive level. After only two years, this confidence remains stable for men but diminishes for women. The result? The organisation suffers from a leaky pipeline of female talent.

In order to create a strong female pipeline, we need a targeted leadership program for female talent. True, all-women environments are not representative of the real world. But women-only programs specifically address the unique challenges women face. What's more, they pave the way for female advancement by providing female role models and a safe environment for women to share and support each other. McKinsey & Co. research shows that 86% of women report that the more women in leadership they see, the more encouraged they are to strive for higher positions. 82% believe that networking with female leaders will help them advance.

We fervently support the creation of gender neutral organisational cultures where both men and women have equal opportunity for career advancement. The inclusion of both sexes in our Women in Leadership programs is an essential component of the learning journey.

ABOUT THE AUTHOR Zsuzsanna Tungli, Ph.D., is the Founder and Managing Partner of Developing Global Leaders Asia, a consulting company focusing on responsible global leadership, gender equality and cultural awareness for business. With 25 years of experience, Dr. Tungli recently published the book 'The Culture Key between Asia and the West', a highly insightful workbook for anyone who wants to bridge cultural differences in the workplace. Please contact the team at www.culturaltrainingasia.com to request a copy.

ABOUT THE COMPANY Developing Global Leaders Asia (DGL), through its training arm Cultural Training Asia, offers programs and solutions that integrate the core aspects of leadership with the global aspects.

DGL believes that future competitive advantage comes from global-mindedness, social responsibility, cultural competence and cross-border communication.

In response to today's complex global economy, DGL have developed innovative programs to help organisations remain competitive by developing executives that can think and work in highly different ways. Visit www.culturaltrainingasia.com for more information.

FEATURE:

THE REAL TRUTH ABOUT GENDER DIVERSITY: WHY NOW IS THE TIME TO INVEST IN FUTURE FEMALE LEADERS

EXPERT OPINION FROM OUR BUSINESS GROUPS

Let's Discuss...

For real impact, invest in women Contributed by the Sustainability & Responsibility Committee

want to end poverty, we should focus on women.”

Inspired by the book Sustainable Impact: How Women are Key to Ending Poverty, Caroline Essame, social entrepreneur and member of the Sustainability and Responsibility Group, caught up with one of the authors, Laina Raveendran Greene, to find out how it can make a world of difference.

Women are a good investment. That simple truth lies behind Laina Raveendran Greene’s commitment to women-led initiatives.

“UN data shows that women spend 70-90% of their earnings on their family, whereas men spend 20-30% of their earnings on their family,” she says. So helping women to thrive also helps the family and the community—they are a multiplier effect to help end poverty.

"Micro finance has also shown that women are more responsible with money, and almost 98% of them always pay back their loans,” Laina adds, “so it’s a no-brainer if we

Backing up her principles, Laina is a co-founder of Angels of Impact, a multi-sided platform that connects women-led social enterprises working to alleviate poverty, to customers and investors. It’s a community-based approach that offers women’s small and medium enterprises access to funding, new markets and mentors. “We hope to provide a space where women–led social enterprises can thrive and learn from one another, and not feel alone in their journeys,” Laina says.

Coming from a humble background in Singapore with immigrant parents, Laina attributes her success to the educational and professional opportunities she had —and that’s what she wants to pay forwards. Today, as an entrepreneur, she sees how much impact entrepreneurs can have in empowering lives, especially for women. When it became clear how much harder it was for female entrepreneurs to raise funding, her interest blossomed in supporting them, so they could succeed in their businesses.

“What I found in this journey, was

that there was an unconscious bias against women social entrepreneurs in developing countries, not surprisingly due to the success of micro finance,” she says. “People tended to believe that women were only capable of running small businesses and hence only needed small amounts money. When a small and medium size women-led business tried to raise funds, there were not generally accepted by traditional funding sources.”

Last year, Laina and co-authors Audrey Tan and Lizzy Hawkins launched their book setting out their philosophy, Sustainable Impact: How Women are Key to Ending Poverty.

“We saw the need to write a book to showcase a different story about the poor and about women run businesses in emerging markets,” she says. “We hoped to change mindsets about how people perceived the poor, to see them as innovators and entrepreneurs as opposed to victims or passive recipients of aid, and to underscore how women were capable of running successful businesses around the region.”

The book has many stories of success, such as Color Silk in Cambodia. It was started by a

47

woman who was raised as a weaver but had the opportunity to go the city to become a business school graduate. She started to sell woven materials in the West, which enabled the women in her village to earn a living—and to escape life “as a modern-day slave in factories in Cambodia”.

Helping women succeed is a task for women, of course: “What needs to change is there needs to be more ‘She for Shes’—women helping women. We quickly learned that not all women support other women. Women should realise that we need to work together if we are to change the male dominated system we live in.” But equally, Laina argues for more ‘He for Shes’, with men supporting women, simply because men are often in a better position to change the minds of other men, and hence play a key role to gender equality.

not about women. It’s about a boy in Africa who read about windmills in the library and scoured his village for parts to make one, to bring power to his neighbours. “I am always impressed with the resourcefulness of those who have so little, and how they just need access to information, ideas, skills, and resources to do almost anything,” says Laina.

“It helps remind us we are no different from them.”

Related to this, her favourite quote comes from her Bahai’i faith: “The world of humanity is possessed of two wings: the male and the female… Until womankind reaches the same degree as man, until she enjoys the same arena of activity, extraordinary attainment for humanity will not be realised. When the two wings become equivalent in strength … the flight of man will be exceedingly lofty and extraordinary.”

So, it’s perhaps ironic that her favourite story from the book is

The British Chamber of Commerce Sustainability and Responsibility Committee seeks to educate and showcase Corporate Responsibility (CR) issues and practices in Asia. The group encourages all businesses in Singapore to have good governance in place, and to use their influence to create systemic change through collaboration and partnerships, to manage the economic, social and environmental impacts of their activities wherever they operate in the world. For more information visit www.britcham.org.sg/business-group-details/snr

LET'S DISCUSS...

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