Orient Issue 70

Orient

THE OFFICIAL MAGAZINE OF THE BRITISH CHAMBER OF COMMERCE SINGAPORE ISSUE 70 | FEB 2019

BUILDING NETWORKS | CONNECTING BUSINESSES | CREATING OPPORTUNITIES

ADVANCES IN TECHNOLOGY

46 IN FOCUS INTERVIEW

Renewable Energy: The Increasing Viability in Asia

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Andrew Barrowman, CEO, JLT Specialty Asia

51 Rise of The Machines

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MATTERS OF OPINION We Ask Our Members What to Expect from their Sector in 2019

MCI (P) 136/04/2018

03 07 09 16 21 26 27 31 34 40

43 46 51 54

56 58

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President's Message Executive Director's Message News New Members Upcoming Events Recent Events In Focus: Andrew Barrowman, CEO, JLT Specialty Asia Matters of Opinion: What to Expect in 2019 Feature: Key Tax Concessions you may be Missing out on as an Expat Feature: The Most Effective Workout for Busy Women Feature: Renewable Energy: The Increasing Viability in Asia Feature: Rise of The Machines Feature: The Magic Carpet Ride: The Growth of Rolls-Royce Motor Cars Feature: Improve your Public Speaking Skills Let's Discuss...

Reshaping Retirement Plans for Longer Life Expectancy 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 & Designer: Nicole Alison Lim alison@britcham.org.sg

© All rights reserved.

137 Telok Ayer Street, #06-03, Singapore 068602 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 @bccsingapore @british-chamber-ofcommerce-singapore

CONTENTS

We see

GENIUS in every child

Every student has the potential to be great. A GEMS education gives them the opportunity to explore their true capabilities.

GEMS Secondary Years Programme We want to prepare your child for success in life beyond secondary school. At GEMS, we offer the full set of academic and career related IB options, taught by highly experienced teachers that love to encourage and inspire. As a result, your child will attain the highest possible standards. And, just like our graduating class of 2018, your child could enjoy offers from the world’s most prestigious universities.

www.gwa.edu.sg (65) 6808 7300

World Academy

info@gwa.edu.sg

Open House

February 23rd

(Singapore)

A truly international school for students aged 2 to 18

CPE registration number: 200803726H, 19 March 2017 to 18 March 2021 EduTrust certificate number: EDU-2-2082, 27 July 2016 to 26 July 2020

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OUR PARTNERS PLATINUM PARTNER

SILVER PARTNERS

GOLD PARTNERS

BRONZE PARTNERS

SUPPORTING PARTNERS

BRITCHAM BOARD

COMMITTEE CHAIRPERSONS

MANAGEMENT TEAM

PRESIDENT:

BUILT ENVIRONMENT:

Executive Director: Olivia Widen

Bicky Bhangu, Rolls-Royce Singapore

VICE-PRESIDENTS:

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

SECRETARY:

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 Caroline Underhill, The Fry Group Christopher Pook, Department for International Trade (Ex-Officio) Mei-kwei Barker, British Council (Ex-Officio)

COMMITTEE CHAIRS BUSINESS COMMITTEES: Richard Warburton

EVENTS:

Sian Brown

EXTERNAL AFFAIRS: Bicky Bhangu

MEMBERSHIP: Damian Adams

David Mackerness (Chairperson), Rhian Windridge (Co-Chair)

DIVERSITY & INCLUSION:

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

ENERGY & UTILITIES:

Head of Member Relations: Nicole Wharfe

ENTREPRENEUR & SMALL BUSINESS:

Membership, Administrator: Sharmila Maniam

FINANCIAL & FINTECH:

Head of Events: Helen Starr

Andrew Ashman (Chairperson), Alexander Harrison (Co-Chair)

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

Mark Florance (Co-Chair)

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

INFOCOMM TECHNOLOGY: Magda Chelly (Chairperson), Hitan Mehta (Co-Chair), Faisal Parvez (Co-Chair)

Events Executive: Gloria Teo Events Executive: Safreen Anwardeen

LEADERSHIP, TALENT & PROFESSIONAL DEVELOPMENT:

Senior Marketing & Communications Executive: Nicole Alison Lim

MARKETING & COMMUNICATIONS:

Marketing & Communications and Events Executive: Samantha Nelson

Joe Tofield (Chairperson), Don Rapley (Co-Chair), David Gardner (Co-Chair)

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

SUSTAINABILITY & RESPONSIBILITY:

Head of Trade Services: Carole McCarthy

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

Trade Services Advisor: Charlotte Tong

TRANSPORT, LOGISTICS & SUPPLY CHAIN:

Finance Manager: Pauline Yeo

WOMEN IN BUSINESS:

Office Manager: Anna C Garciso

Simon Petch (Chairperson), Nicholas Potter (Co-Chair)

Angel Cheung-Horenfeldt (Chairperson) Sharmila Martis (Co-Chair)

CHAMBER INFORMATION

MEMBERS’ SPECIAL

50% OFF EXPAT LIVING

SUBSCRIPTION! What’s inside every month: Fabulous features on home décor, travel, the arts, education, style, and more

$ 3 A YEA9

Useful recommendations and reviews on where to shop and dine Inspiration for the family, including yummy recipes and fun activities happening on the island

To claim this offer, simply visit:

expatliving.sg/orient Offer is valid for a limited time only. Orders received after 15th of the month will start after the next issue. Subscription is non-refundable but transferable.

ONLY R

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Message from the President

Welcome back to all those who took a break over the holidays to travel and spend time with friends and family. As we all look to start 2019 with renewed purpose, the Chamber is working on a fantastic calendar of activities throughout the year for you to look forward to.

Bicky Bhangu President, British Chamber Of Commerce, Singapore

All members will receive a copy of our Year in Review 2018 publication this month which looks back over the past year of the Chamber, takes a deep dive into the opportunities available for businesses looking to expand into the ASEAN region, and provides a full listing of your fellow member companies. We hope that you will find this resource valuable and look forward to hearing your feedback.

As the EU Exit negotiations come into sharp focus through the coming months in the UK, the Chamber will become a focal point of information and opportunities to share your questions and concerns on trade through our relationship with the Department for International Trade and the British High Commission. Look out for further events and opportunities to discuss these important topics to both have your say and help to make important decisions for your business.

I look forward to meeting many of you at our upcoming Annual General meeting in April where I will report on the Chamber's performance and Board composition for the year ahead.

MESSAGE FROM THE PRESIDENT

WHAT ARE YOU WAITING FOR? Discover a choice of over 110 destinations across Europe with us.

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Message from the Executive Director

This issue is our first for 2019 and once again, the magazine promises to bring you the latest insights, thought leadership and activities from around the network and beyond.

In 2018, we launched the Orient Magazine in digital version, allowing for greater accessibility and increasing our readership. Towards the end of the year, we further launched a new Chamber website, allowing for a more seamless user experience. In 2019, we will continue to transform our communications platforms with our members in mind. We look forward to providing you with innovative new content on topical issues throughout the year that offer additional opportunities for members to be featured such as our annual Guide to International Schools and Future of Work supplement. We will also be looking to streamline the communications we send out to members, using the Orient Magazine as a focal point to communicate with you. Finally, we welcome to your feedback on our first edition of the Chamber’s 2018 Year In Review publication, available in digital and print versions to our network of 3,700 members.

Olivia Widen Executive Director, British Chamber Of Commerce, Singapore

As we commence the New Year, the Chamber network has been looking ahead to what may come in 2019. Members have contributed their thoughts in our regular Matters of Opinion feature on the opportunities and challenges we may face in the year ahead. Our panel of experts explored factors that could impact your money and investments in 2019 in our Your Money 2019 event. Likewise, in their inaugural Asia Pacific Real Estate Market Outlook, our Built Environment committee brought industry leaders together to debate the key market trends and themes keeping CEOs up at night in 2019.

Brexit remains a top priority in 2019 as the UK is due to leave the EU at the end of March. As we draw closer to this date and discussions continue in Westminster and Brussels around the UK's Exit from the EU, our members were invited to an update and Q&A session with the High Commissioner, His Excellency Scott Wightman. We will look to support our members during this period, looking to provide clarity and information on developments. We will further be holding a second Brexit briefing on 3rd April.

As we look ahead to 2019, we are also preparing ourselves for an important year for UK and Singapore relations as we celebrate the 200th anniversary of the relationship between both nations. The Chamber will be working closely with colleagues at the British High Commission and the UK’s Department for International Trade to continue strengthening ties between Singapore and the UK in the year ahead, looking to highlight our close trade relations and celebrating the successes of our members and British companies in Singapore.

Our 20th Annual Business Awards will afford a unique opportunity to recognise this momentous year, as well as celebrating the 20th year of our Awards. We would therefore encourage members to submit their nominations and join us in our celebrations. Visit our website our website to find out more about our Awards.

Do not miss out either on booking your tables for the second addition of The Great British Ball on Saturday, 7th December, brought to you in partnership with the British Club. Additionally, our annual International Women’s Day on Friday, 8th March. We encourage members to purchase corporate tables to demonstrate their solidarity in celebrating the social, economic, cultural and political achievements of women.

Finally, I wish to end my message by thanking our Head of Events, Zoe, for all her fantastic work and contributions to the Chamber during her time with us. She has returned to the UK and we welcome Helen as she assumes the leadership of our events team.

MESSAGE FROM THE EXECUTIVE DIRECTOR

In 2018 we added Dubai to our list of global offices.

www.thefrygroup.sg The Fry Group (Singapore) Pte Ltd is authorised to act as a financial adviser by the Monetary Authority of Singapore - licence number FA100057.

Local knowledge, international outlook

British Theatre Playhouse in association with Worldwide Entertainment presents

Introducing songs by legendary rock stars from smash hit musicals WE WILL ROCK YOU (Queen), THRILLER LIVE (Michael Jackson), THE BODYGUARD (Whitney Houston), TINA (Tina Turner), BEAUTIFUL (Carole King), DREAMGIRLS and MOTOWN THE MUSICAL!

“Top notch… a classy, truly enjoyable evening!”

Musical Theatre Review

Saturday 27 April 2019 – 7.30pm GRAND BALLROOM, ONE FARRER HOTEL & SPA BOOK NOW! Tickets are available from The British Club: 6410 1100 and online at www.britishtheatreplayhouse.com For champagne and VIP tickets, call the British Theatre Playhouse on 6449 4855 or e-mail info@britishtheatreplayhouse.com Enjoy an exclusive 15% discount! Promo code (for online booking): BCC002

For full details, visit www.britishtheatreplayhouse.com Produced by

Supported by

Official Airline

Official Hotel

Official Magazine

STERLING MEMBERS

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STERLING MEMBERS

Access your Membership with the EventBank App Available for mobile devices and tablets in the Google Play Store at bit.ly/eventbankplaystore

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GET IN TOUCH

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NEWS:

FROM THE CHAMBER

NEWS Announcing the new British High Commissioner to Singapore from July 2019

Be Inclusive encourages companies to sign the employer's pledge on HIV in the workplace

The Foreign Office has announced that Ms Kara Owen CVO has been appointed British High Commissioner to the Republic of Singapore in succession to Mr Scott Wightman CMG, who will be transferring to another Civil Service appointment.

Ms Owen will take up her appointment in July 2019.

The Chamber Board and team look forward to welcoming Ms Owen to her new role in the summer.

With the recent leak of HIV data and the heightened risk of workplace discrimination against 14,000 persons diagnosed with HIV in Singapore, the situation underscores the urgency of Be Inclusive’s mission to make it easier for people to find employment, products and services at inclusive companies in Singapore.

The team at Be Inclusive has launched a collaboration with Action for AIDS, Oogachaga, Project X and The T Project to rally a response from companies in Singapore. Their ask is that employers pledge their support for workplaces that are inclusive, where employees are protected from stigma and discrimination.

Be Inclusive are thrilled to count Salesforce, 99. co, Peter Low & Choo LLC, P.S. Cafe, Mycelium Asia among the first responders to the call.

To sign the pledge visit: be-inclusive.com/ employers-pledge-on-hiv

Celebrating Diversity Photography Competition The Chamber was delighted to organise the 3rd edition of our Celebrating Diversity Photography Competition and to bring together the finalists and our Diversity & Inclusion Committee members at the prize celebration on 23rd January. We’d like to thank all the finalists who we had the pleasure of meeting and hearing the stories behind the images.

Initiatives like these cannot happen without the generosity and time of our members and partners like the British High Commissioner Scott Wightman and his team, our colleagues at Barclays who continue to support the Chamber's D&I activities, JLL who provided the prizes this year, and our D&I Committee members. Congratulations to the winners and thanks to everyone who took part!

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The Great British Ball The British Chamber of Commerce Singapore and The British Club presented Singapore’s first Great British Ball in the opulent surroundings of the Shangri-La Hotel on 30th November 2018. The Ball combined the rich history of both organisations to bring the British community together over the festive season. Produce and products from the British Isles were showcased throughout the evening to bring that familiar Christmas spirit from home to Southeast Asia. Guests also had the opportunity to partake in a silent auction and a live raffle with special prizes.

NEWS:

FROM THE CHAMBER

NEWS:

MEMBER NEWS

Jardine Cycle & Carriage marks 120 years of Southeast Asian Partnerships

Prof. Matt Bentley takes over as CEO & Dean of Newcastle University in Singapore

Jardine Cycle & Carriage, a leading Singaporelisted company and a component stock on the Straits Times Index (“STI”), celebrates its 120th anniversary in 2019.

On 1 January, Professor Matt Bentley started his new role of CEO and Dean for Newcastle University in Singapore, taking over from Professor Ian Postlethwaite, who stood down from the post at the end of 2018.

Strong financial performance For the first nine months of 2018, Jardine C&C reported an underlying profit of US$675 million, a 14% increase from the year before. The Group closed 2017 with a consolidated revenue of US$17.7 billion and an underlying profit of US$770 million.

Deep-rooted presence in Southeast Asia Jardine C&C’s most significant interest is in one of the largest Indonesian-listed companies, Astra International (“Astra”). Since 2001, we have been supporting Astra’s growth and its contributions have been key to Indonesia’s economic development. Astra is a diversified group with core businesses in automotive, financial services, heavy equipment, mining, construction & energy, agribusiness, infrastructure & logistics, information technology and property. Astra has a strong presence in Indonesia’s car and motorcycle markets, with 50% and 75% market share respectively. In 2018, to participate in Indonesia’s rapidly expanding digital economy, Astra invested US$150 million in GO-JEK. Jardine C&C expanded its presence in Southeast Asia by entering the burgeoning Vietnam economy in 2008 with an interest in Truong Hai Auto Corporation (“THACO”). THACO has grown from its position as Vietnam’s largest automotive company into a diversified group with interests in real estate and agribusiness. The Group increased its exposure in Vietnam in 2012 through Refrigeration Electrical Engineering Corporation (“REE Corp”), a diversified holding company, and in 2017, invested in Vinamilk, the leading dairy producer in Vietnam with 59% market share. Today, Jardine C&C has a 10.6% stake in Vinamilk. Jardine C&C’s other diversified interests in Southeast Asia include Siam City Cement, the second largest cement producer in Thailand with a further presence in Vietnam, Sri Lanka, Bangladesh and Cambodia.

Find out more at www.jcclgroup.com

Prior to taking up this role, Matt held the post of Head of Academic Operations in Singapore and since 2016 had worked closely with Ian Postlethwaite on developing and delivering the Singapore strategy. Going back even further, his relationship with Newcastle University started as an undergraduate, being awarded a BSc in Zoology in 1978 and a PhD in Marine Biology in 1984. After spells lecturing both in the UK and France, Matt returned to Newcastle as a lecturer in 1999. He held roles as first Deputy and then Acting Head of School of Marine Science and Technology, before moving to Bournemouth University in 2014 as Deputy Dean for Research in the Faculty of Science & Technology.

Here, Matt talks about his new appointment and the future of our Singapore operation…

On taking on the role of CEO and Dean for Singapore “The excitement of becoming Dean and CEO in Singapore is palpable. Being a Marine Scientist, working with academics who are all engineers, alongside an outstanding team of professional service staff, is a challenge but gives me the advantage of not being too closely associated with any one of the academic disciplines in Singapore. Skills learned leading research across various departments in my previous Deputy Dean for Research role are invaluable here. My greatest pleasures and achievements, I believe, are yet to come.”

For more information visit www.ncl.ac.uk/ singapore/

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Dyson relocates corporate Head Office to Singapore In 2018 Dyson’s profits broke £1bn for the first time as investments in advanced manufacturing and research reached a new high while revenue continued its strong growth trajectory. Dyson’s investment in future technology took grip across the UK and Asia and the global research and development team grew to 5,853 engineers and scientists. Investments deepened across all areas of core technology including energy storage, heater technologies, robotics, machine learning and motors. Direct retail continued to grow rapidly as Dyson opened more of its own stores and increased direct sales.

New Products for wellbeing drove growth globally as Dyson broadened its technology investments with new products launched across six product areas, all underpinned by investment in core technologies. The Dyson Airwrap™ styler launched in October 2018 and quickly became one of the fastest selling Dyson products, new purification technology addressed growing concerns about indoor air quality, and people quickly adopted Dyson’s next generation vacuums which are equipped with the latest Dyson digital motor technology and batteries.

The Dyson Institute of Engineering and Technology welcomed the second cohort of undergraduate engineers to its Malmesbury Technology Campus as it continued its £31m investment in Higher Education in the UK. The 2018 entry was one of the most competitive engineering degree courses in Britain, and 40% of the successful 2018 applicants were female, compared to the average 15.1% in UK engineering undergraduate courses. Construction of the undergraduate village in Malmesbury was completed, providing accommodation pods for the growing cohort of undergraduate engineers and further significant investments are planned for 2019. A new social space, ‘The Roundhouse’, will open in early 2019 offering a bar, café, cinema and study space; and further health and wellness investments, including a lap pool, are also planned.

Investment across the UK, Malaysia and Singapore. The UK investment program and expansion continues with the construction of new laboratories, allowing the growth of Dyson’s energy storage research program as well as the robotics program, one of the largest in the UK; the Singapore Technology Centre will double in size; and the Malaysia Design Centre goes into its fifth phase of development. Malmesbury, Hullavington, London and Bristol will continue to be core creative and engineering parts of Dyson and The Dyson Institute of Engineering and Technology is a vital part of the plan to nurture engineers for a long-term future in the UK. An increasing majority of Dyson’s customers and all of our manufacturing operations are now in Asia; this shift has been occurring for some time and will quicken as Dyson brings its electric vehicle to market. As a result, an increasing proportion of Dyson’s executive team is going to be based in Singapore; positioning them to make the right decisions for Dyson in a quick and efficient way. This does not change any of our investment and recruitment plans; however we are now at a point where Dyson’s corporate head office will relocate there to reflect the increasing importance of Asia to Dyson’s business.

Dyson Automotive continued to gather momentum as the 750 acre, £200m, Hullavington Technology Campus in the UK opened, offering state-of-the-art automotive spaces to the growing team. Dyson’s existing footprint and team in Singapore, combined with the nation’s significant advanced manufacturing expertise, made it the ideal location to manufacture the Dyson car. In April, Roland Krueger will join Dyson, based in Singapore, to oversee all aspects of the automotive project as it approaches launch; he joins having been president of Infiniti Motor Company, Ltd. and Senior Vice President of Nissan Motor Co., Ltd., (part of Nissan Group Companies) since January 2015.

For more information visit www.dyson.com.sg

NEWS:

MEMBER NEWS

NEWS:

MEMBER NEWS

Tanglin Trust School Awarded the ‘Wellbeing Award for Schools’ in recognition of our commitment to staff, student and parent wellbeing.

Tanglin Trust School is delighted to have been awarded the ‘Wellbeing Award for Schools’ (WAS) in recognition of our commitment to the wellbeing of our students and staff, and for our provision of opportunities to engage with parents.

At Tanglin, we take pride in our holistic approach to education. We often talk about learners who are ready for whatever the next stage of life’s journey has in store for them; equipped with both the knowledge and the skills not only to survive, but to thrive.

In October 2017, as part of our work towards this vision, Tanglin committed to the WAS, a framework developed by the National Children’s Bureau in the UK. A ‘WAS Change Team’ with representatives from across the school was formed to look at all aspects of wellbeing at Tanglin, with the overall aim of developing a school culture where the whole community is engaged in promoting and protecting wellbeing.

Following a stakeholder survey, our specific aims included being clearer on what we mean by ‘wellbeing’, making the school a safe place in which to talk about our own wellbeing, and feeling equipped with a range of strategies to effectively support others wellbeing (adults and young people). Our WAS objectives sat under the following areas: commitment and vision, culture, staff and continuous professional development (CPD), responding, and community and partners.

After a year, in November 2018 we were delighted to be awarded the WAS – with a glowing report.

It is wonderful to have achieved this recognition for our commitment to the wellbeing of our students and staff, and for our provision of opportunities to engage with parents, for example through the growing ParentWise programme.

The verifier met several students from the Junior and Senior Schools and was very impressed with their confidence in talking about how they look after their own mental and physical health, a key objective of our Personal, Social, Health and Citizenship Education (PSHCE) and Lifeskills programmes. As the report said: “The PSHCE and Lifeskills curriculum have been developed to support the vision of the school where wellbeing is the foundation upon which academic achievement is built.”

John Ridley, Director of Learning said: “The Wellbeing Award for Schools framework has been a very useful tool for Tanglin. This report is a wonderful testament to the hard work of many different individuals and teams across the school who have contributed to improving our community’s awareness of and ability to tackle wellbeing issues.”

Craig Considine, CEO added: “Wellbeing remains very high on our agenda and there is more work to do, but it is wonderful to have this validation of our efforts so far.”

Find out more at www.tts.edu.sg

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STERLING MEMBERS NUTANIX Nutanix enables IT teams to build and operate robust multi-cloud architectures. Our Enterprise Cloud OS software combines private, public and distributed cloud operating environments and provides a single point of control to manage IT infrastructure and applications at any scale.

Visit www.nutanix.com for more information.

Representative Member: Gary Hamilton-Walker, Director of External Relations

CORPORATE PLUS MEMBER FINASTRA INTERNATIONAL FINANCIAL SYSTEMS PTE. LIMITED Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 90 of the world’s top 100 banks use Finastra technology. Please visit finastra.com. Find out more at www.finastra.com Representative Member:

Catherine Lam, Senior Public Relations Manager, APAC

CORPORATE MEMBERS 1HQ 1HQ is a global brand agency. For 25 years we’ve worked and grown with some of the world’s best-known brands, working in over 35 countries from our offices in London, Amsterdam, New York and Singapore. Every global office has a local leadership team with international branding and design experience, that understand the complexities of a brand’s core values and who have an entrepreneurial approach to adapt quickly to local preferences and nuances.

We ask and answer the hard questions that determine how brands should be positioned, how they should innovate and how they are best represented through design and communication.

Find out more at www.1hqglobal.com Representative Member: Karen Cole, Creative Director

ASIA CARE GROUP Specialist healthcare consulting and advisory firm focused on the Asia Pacific markets. We would with Governments, Payors, Providers, Pharma and Development Banks on healthcare strategy and change engagements. Find out more at www.asiacaregroup.com Representative Member: Thalia Georgiou, Managing Partner - Healthcare

NEW MEMBERS

NEW MEMBERS BARINGA CONSULTING LIMITED (SINGAPORE BRANCH) Baringa Partners is an independent business and technology consultancy. We help businesses run more effectively, navigate industry shifts and reach new markets. We use our industry insights, ideas and pragmatism to help each client improve their business. Collaboration is central to our strategy and culture ensuring we attract the brightest and the best. And it is why clients love working with us.

Find out more at www.baringa.com Representative Member: Chris Walters, Management Consultant

COLT TECHNOLOGY SERVICES PTE LTD Colt aims to be the leader in enabling customers’ digital transformation through agile and ondemand, high bandwidth solutions. The Colt IQ Network connects 850+ data centres across Europe, Asia and North America’s largest business hubs, with over 27,000 on net buildings and growing.

Customers include data intensive organisations spanning over 207 cities in nearly 30 countries. Colt is a recognised innovator and pioneer in Software Defined Networks (SDN) and Network Function Virtualisation (NFV). For more information, please visit www.colt.net Representative Member: Reshma Murthy, Senior Marketing Manager

HILL & ASSOCIATES RISK CONSULTING SINGAPORE (PTE LTD) Founded in 1992 with headquarters in Hong Kong and Singapore, we are a risk mitigation consulting firm that helps clients to understand and manage operational risks in opaque, dangerous or unfamiliar markets. We are a multidisciplinary organization; our staff of over 200 full time employees includes lawyers, accountants, bankers, military and law enforcement officers, certified fraud examiners, forensic accountants, intelligence officers, computer forensic specialists and corporate intelligence analysts, all with significant international experience. Get more information at www.hill-assoc.com Representative Member: Michael Haughey, Director and Country Manager

INK Founded in 1994 in London, Ink is the world leader in travel media, connecting thousands of advertisers and brands to a highly receptive, and growing global audience of 802 million passengers.

Ink creates and delivers inspiring, award-winning content for the world’s biggest and greatest airlines, railways, travel companies and their passengers, by producing 31 magazines in 14 languages and video content for all digital platforms. Partners include American Airlines, Amtrak, easyJet, Etihad Airways, Norwegian, United Airlines, Singapore Airlines and Virgin Atlantic. Find out more at www.ink-global.com Representative Member: Ric Stockfis, Managing Director

INSEAD As one of the world’s leading and largest graduate business schools, INSEAD offers participants a truly global educational experience. With campuses in Europe (France), Asia (Singapore) and Middle East (Abu Dhabi), and alliances with top institutions, INSEAD’s business education and research spans around the globe. Our 154 renowned faculty members from 40 countries inspire more than 1,400 students in our degree and PhD programmes. In addition, more than 11,000 executives participate in INSEAD’s executive education programmes each year. Find out more at www.insead.edu Representative Member: Zoe Grigg

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OFX SINGAPORE PTE. LIMITED With over 20 years’ experience, OFX is the trusted money transfer provider for individuals and businesses around the world. OFX has transacted over $100 billion in its history, sending money to bank accounts in 197 countries in over 50 currencies. The company is listed on the Australian Stock Exchange, regulated by 50+ global regulators including MAS (Monetary Authority of Singapore). Find out more at www.ofx.com/en-sg/ Representative Member: Jay See, Alliance & Partnerships Manager

TCB (SG) PTE LTD TCB Group specialise in supply chain and intermodal freight transport solutions. Through a highly skilled and experienced team, we collaborate to problem-solve, manage and deliver positive outcomes for businesses and organisations throughout the world. We are differentiated within the market place by our ability to deliver exceptional service in difficult circumstances, our attention to detail and our knowledge sharing and collective experience within the industry. Our core business services are freight management, warehousing, the transportation of dangerous goods and the repatriation of human remains. Find out more at www.tcbgroup.sg Representative Member: Darren Green, Director

THE OSTEOPATHIC CENTRE PTE LTD Located at Park Avenue Rochester near Holland Village, Raffles Place in the CBD and Bowmont Centre in Siglap, The Osteopathic Centre have been helping patients improve their overall wellbeing for more than ten years. We aim to find the root of the problem and help the individual improve their quality of life and sense of wellbeing. We believe everyone has a right to the best possible health care. Find out more at www.theosteo.com.sg Representative Member: Dr Paul Bell, Founder & Clinical Director

THOROGOOD ASSOCIATES Thorogood is a specialist Business Intelligence and Analytics consultancy. Our clients are large, complex businesses. Their needs are demanding. Often, our systems are critical to making their businesses manageable. Most of our clients come through recommendation because we create business solutions that people are happy to use. It is about faultless delivery – time after time.

Behind it are exceptional people developed exceptionally well. It is at the core of our commitment to efficiency and productivity. Find out more at www.theosteo.com.sg Representative Member: Alaistair Jones, Singapore Branch Manager, BI & Analytics Consultant

ZUHLKE ENGINEERING PTE LTD Zuhlke is a service provider for innovation projects. By combining both business and technology expertise, we create solutions that satisfy our customers. We develop financially successful products, services and business models for today’s digital world – from coming up with the initial idea through to the implementation and operation. We can achieve this by drawing on the experience of more than 10’000 successful projects. We have 1000 employees in local teams in different European countries (including UK with London and Manchester), Singapore and Hong Kong. www.zuehlke.com/asia/en/ Representative Member: Stefan Sarbach, Director Business Development / Partner

NEW MEMBERS

NEW MEMBERS

CORPORATE SME MEMBERS AVIATION WEEK NETWORK (INFORMA) Aviation Week Network – part of London FTSE-listed, Informa (LON: INF) – provides high quality Aerospace & Defence (A&D) market information and outreach through information services, digital marketing and events. A&D executives rely on Aviation Week’s market intelligence solutions every day to deliver extensive data, analytics, insight and timely news on the global market – including the programs and technologies that are shaping the industry. Aviation Week’s annual Commercial Aviation Services event in Singapore is the premier event for airline operators, MROs, manufacturers, suppliers and OEMs. The Exhibition hosts more than 5,000 attendees and features over 200 companies. Visit aviationweek.com for more information.

Representative Member: Paul Burton, Managing Director, Asia-Pacific

CST TAX ADVISORS Since 2004, we have been providing international tax advisory, accounting, and tax compliance services to organisations, their founders and their expat employees within Singapore. As a trusted, boutique provider of international tax advice, we provide “whole of tax” services for organisations.

Our services range from establishing a Singaporean presence to coordinating and taking full advantage of Government grants, to ongoing tax compliance, monthly management reporting, and payroll. Find out more at www.csttax.com.sg Representative Member: Boon Tan, Managing Director

ERC EQUIPOISE PTE LTD ERCE is engaged in detailed subsurface, facilities and commercial studies across the region. Our work ranges from audits for year-end reporting, M&A studies and technical support; it mainly encompasses subsurface, facilities, drilling and PSC terms evaluation, government advisory and commercial aspects, we also analyse facilities ties optimisation and gas to power/LNG. Highlights of our experience in the region include Soco TGT field development planning, Jadestone Montara acquisition, due diligence of numerous Indonesian PSCs, audits of Premier Oil, Ophir, Interra and Tag Oil, involvement in the Cairn Rajasthan discoveries, India licence rounds, and cross-border unitisation advisory services. Find out more at www.erce.energy Representative Member: Stewart D W Easton, General Manager, AP

HILLSBROOKS CONSULTING PTE LTD Hillsbrooks Consulting Pte Ltd was established in 2018 and focusses on introducing and developing European brands in Asia, and Asian brands in Europe. Specialising in Luxury Apparel, Menswear, Womenswear, Children’s wear, Accessories, Jewellery, Sportswear, Lifestyle and Table top categories.

Services include Market Strategy, Business Development, Brand Equity Optimisation, Contract Negotiation, Joint-Ventures, Company set up, Organisational change & Team Leadership across all channels of Retail, Wholesale, Travel Retail, Franchise, Licensing, e-Commerce and Omni-channel.

Visit www.hillsbrooks.com for more information.

Representative Member: Peter F Thewlis, Managing Director

KS INTERNATIONAL Twelve year old boutique recruitment agency with licences in Dubai, Singapore and Hong Kong.

Specialising in Financial Services. Visit www.ksinternational.co for more information.

Representative Member: Sonia Fuller, Founder

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LIFEFORWARD PTE LTD LifeForward provides executive and business coaching, leadership development and Insights Discovery profiles and workshops for a range of corporate and individual clients in Singapore and throughout Asia. Our coaches are accredited with the International Coach Federation. Visit www. lifeforward.co.uk for more information.

Representative Member: Sarah Reynolds, Director

REN ADVISORY PTE LTD Ren Advisory provides all-round Human Talent consulting services to start-ups and SMEs, particularly those that are rapidly expanding. With nearly 20 years’ Human Resources experience across Asia, Africa, The Middle-East and Central and Eastern Europe, founder Kris Sasitharan is well placed to advise start-ups and SMEs on all aspects of Human Capital – Talent Management / Acquisition, Culture and Organisation Design, Executive and Leadership Coaching, Performance Management and Reward & Benefits. Visit www.renadvisoryasia.com for more information.

Representative Member: Krishnasamy Sasitharan, Managing Director

OVERSEAS CORPORATE MEMBERS AMPLYFI AMPLYFI enables organisations to significantly enhance their business intelligence and research capability by enabling them to unlock the entire internet for themselves using artificial intelligence.

Organisations then make smarter, faster decisions whilst reducing the time and cost of acquiring intelligence, conducting research and generating insights. Its technologies are relevant to any industry or sector and for a range of activities such as competitor intelligence, horizon scanning, risk assessment, prospecting, R&D, procurement etc. Visit www.amplyfigroup.com for more information.

Representative Member: Ian Jones, Chief Strategy Officer

SECUREWEST INTERNATIONAL LIMITED Securewest provides global risk management solutions with a reputation for delivering a product that constantly exceeds our client's expectations. We operate across land, maritime and corporate security sectors and understand the complexities of managing risk across continents, oceans, national and international borders. Visit www.securewest.com for more information.

Representative Member: Jonathan Gahagan, Business Development Manager

THE DANNA LANGKAWI The Danna Langkawi takes pride in honouring their legacy in composing luxury lifestyle. A 5-star resort that is surrounded by enchanting nature with breezy sandy beaches and built with Colonial Mediterranean inspired architecture. Staying at The Danna Langkawi makes travelling around the island easy as it takes approximately 15 minutes from the Langkawi International Airport and the touristy Pantai Cenang. Voted by the TripAdvisor travellers as the No. 1 Hotel in Langkawi Malaysia for 4 consecutive years since 2015, The Danna Langkawi is highly recognized for its world class services and sublime accommodations. Find out more at www.thedanna.com Representative Member: Kah Mun Tong, Senior Sales Manager

NEW MEMBERS

UPCOMING EVENTS

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

NAME

TIME

VENUE

01 Mar 2019

Business Tour: Bunker Gold & Silver Vaults at LeFreeport

09:30 AM 11:30 AM

Le Freeport 32 Changi NCrescent, S 499643

05 Mar 2019

IMO 2020

8:00 AM 10:00 AM

Sheraton Towers Singapore 39 Scotts Road Level 3, Onyx & Amethyst S 228230

08 Mar 2019

International Women's Day

11:30 AM 2:30 PM

Ballroom, Conrad Centennial Temasek Boulevard 2, S 038982

19 Mar 2019

BritCham Open House

5:30 PM 8:30 PM

British Chamber of Commerce 137 Telok Ayer Street #06-03 S 068602

22 Mar 2019

Women of the Future Kindness in Leadership

9:00 AM 11:00 AM

Mercer 8 Marina View, #09-08, Asia Square Tower 1, S 018960

02 Apr 2019

B2B Critical Selling Skills and Pricing Strategies

8:00 AM 10:00 AM

British Chamber of Commerce 137 Telok Ayer Street #06-03 S 068602

DATE

EVENT SPONSOR

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RECENT EVENTS A UK Outlook: Autumn Budget Review 2 November 2018 Event Partner:

BREAKFAST CLUB EVENT: Overcoming & Integrating Disruptive Technology 13 November 2018 Event Partner:

ASEAN in Focus: Indonesia 14 November 2018 Event Partner:

LEADERS IN BUSINESS LUNCH: Collaboration in the Global Market ft Png Cheong Boon, CEO, Enterprise Singapore 15 November 2018 Event Partner:

RECENT EVENTS

RECENT EVENTS

FUTURE OF WORK EVENT: Leading Millennials in a Multi Generation Workforce 26 November 2018 Event Partner:

ANNUAL EVENT: The Great British Ball 30 November 2018 Event Co-organiser:

Title Partner:

Supporting Partner:

LEADERS IN BUSINESS LUNCH: Singapore’s Innovation Ecosystem ft. Prof Ric Parker, Former CTO, Rolls-Royce 10 January 2019 Event Partner:

Doing Business in China 15 January 2019 Event Partner:

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SME Review 22 January 2019 Event Partner:

BREAKFAST CLUB EVENT: 2019 Asia Pacific Real Estate Market Outlook 29 January 2019 Event Partner:

BREAKFAST CLUB EVENT: So You Want to Make a Video 31 January 2019 Event Partner:

Brexit Update ft. H.E. Scott Wightman, British High Commissioner 31 January 2019 Event Partner:

Your Money 2019 12 February 2019 Event Partner:

RECENT EVENTS

TRADE SERVICES EVENTS

UK Pavilion at Singapore FinTech Festival, Singapore Expo 12 Nov 2018

In-Market Briefing Trade Mission, Standard Chartered 12 Nov 2018

UK-Singapore FinTech Bridge – Networking Reception, Prudential 13 Nov 2018

Minister George Hollingbery MP visited the delegates at the UK Pavilion at the Singapore FinTech Festival Exhibition held at the Singapore Expo Hall 4 together with Her Majesty's Trade Commissioner for Asia Pacific, Natalie Black organised by Department for International Trade (DIT) & BritCham Singapore's Trade Services team. The Minister met the UK Delegates from ClauseMatch, ComplyAdvantage, CreditSCRIPT, CUBE, Currencycloud, Digital Shadows, Global Processing Services, novastone, Onfido, Railsbank, Solidatus and White Label Crowdfunding Limited.

The Chamber welcomed a delegation of key financial institutions and stakeholders from Thailand to Singapore to meet with our UK FinTech Trade Mission of 12 companies featured at the Singpaore FinTech Festival. The Chamber’s FinTech agenda is kindly supported by our annual Strategic Partners Standard Chartered Bank Singapore.

This reception was jointly organised by the Department for International Trade and the Chamber, and partnered by Prudential. The delegation of visiting British companies were joined by HM Trade Commissioner Ms. Natalie Black and Guest of Honour, Minister George Hollingbery MP, who shared his thoughts on UK-Singapore FinTech relations.

LME Gala Reception, Eden Hall 26 November 2018 Matthew Chamberlain, CEO of the London Metal Exchange hosted a Gala Reception with LME key members and clients in Singapore at Eden Hall. The British High Commissioner H.E Mr Scott Wightman also joined the reception.

Britain after Brexit: Breaking with Europe and Business Prospects for ASEAN, Eden Hall 27 Nov 2018 University of Warwick, with the support of the Chamber's Trade Services team, organised a seminar to examine the economic, political and legal implications of Brexit for countries in ASEAN, as well as opportunities and challenges for business in the region, and the implications for the UK’s longstanding relationship with countries in Southeast Asia.

Improving Enterprise Agility, Eden Hall 4 Dec 2018 Barbara Roberts, author of the Agile Project Management certification led a briefing and discussion on business agility and another new global certification - Agile Digital Services.

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In Focus:

Andrew Barrowman, CEO, JLT Specialty Asia

By Lucy Haydon As customer needs and expectations change, the insurance industry has been experiencing a period of transition in operations, regulations and the nature of products and services. In this interview I sat down with Andrew Barrowman, who has spent over 30 years in the insurance industry, to find out more.

IN FOCUS INTERVIEW WITH THE EDITOR:

ANDREW BARROWMAN, CEO, JLT SPECIALTY ASIA

IN FOCUS INTERVIEW WITH THE EDITOR: ANDREW BARROWMAN, CEO, JLT SPECIALTY ASIA

You have spent over 30 years in the insurance industry in various senior positions and countries. The industry has been undergoing a period of change in recent years with technological innovation and the increasing complexity of regulations.

In your experience, how has the industry benefited from these incremental changes?

There is no doubt that there has been a massive change over that period of time. The changes have benefited the industry and clients both from a technology and a regulation perspective.

Advancement in technology has allowed our industry to provide our clients datasupported information to make choices which cater to their specific personal or business needs. With aggregator sites, claims chatbots and flexible benefits platforms, clients can now access information, reach out for help or make decisions on their coverage at their own time and pace. And whilst most clients are still keen on relying on their brokers and agents, we’re seeing a trend of younger clients turning to these tools online to make their less complex purchase decisions.

We are a rather old industry (Lloyd’s was set up 300 years ago!), steeped in history and tradition, so it can be challenging to effect change on a wide scale. But, the influx of new players with faster and more efficient methods to engage clients and complete a transaction has forced incumbent players to step out of their comfort zone and embrace improvement and

innovation. This benefits the clients tremendously, as they now have more choice at a competitive price.

Tightened regulations coupled with more stringent enforcement have benefited both the industry players and our clients. In most developed markets, intermediaries and underwriters have to obtain a minimum standard of professional qualifications to be able to give advice and transact business. In recent years, Governments have passed laws to ensure that insurers are sufficiently capitalised to be able to pay claims quickly. Insurers are also becoming better at identifying fraudulent claims and managing their expense ratios. This is a far cry from the business environment 30 years ago and whilst there’s still more to be done, we are glad that public trust in the industry has increased over the years and we plan to continue to help drive these high standards.

Many of the sectors which JLT Specialty focuses on are directly aligned with sectors of focus for the UK’s trade agenda and in some cases Singapore. Is there a recognition of this alignment and how has JLT Asia been able to benefit from this?

JLT Group is currently headquartered in London and listed on the London Stock Exchange so there is a natural alignment to the UK’s trade agenda.

Our Specialty business was developed in London and expanded globally, having also established particularly strong roots in Asia due to our association with the Jardine Matheson Group. Our commitment to investing in

long term partnerships, putting our clients first and constantly staying ahead of industry developments has helped us maintain the trust of some of the largest government agencies and MNCs globally. And we are very proud of this accomplishment.

whilst most clients are still keen on relying on their brokers and agents, we’re seeing a trend of younger clients turning to these tools online to make their less complex purchase decisions.

As we enter a new year, what are the key trends you anticipate for the insurance and risk management sector?

With the availability of information online, we foresee our clients becoming even more aware of the importance of risk management and pushing the insurers and brokers for even more specialised advice and in turn, increasing the value of specialist insight when managing risks. Data analytics will play an even larger role in providing advice, managing claims cost and players who are not able to provide data-supported recommendations will lose out.

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The JLT team collecting the Digital Innovation Award at last year's British Chamber of Commerce 19th Annual Business Awards

In terms of global risk, we anticipate even more attention on political instability and with upcoming elections in several countries in the Asia region, we are keeping a constant eye out for our clients operating in multiple territories. System vulnerability is another risk which every business, large and small, will be managing this year.

With the increased reliance on automation and even more businesses storing essential information in virtual databases, our clients are even more exposed to cyber security risks. We anticipate an even bigger investment in cyber security and crisis management to keep up with the latest threats, including a larger take up on cyber insurance policies.

Locally, I believe we will continue to see pressure on insurance premiums as our clients are also looking to improve their own results in a competitive market. In 2018, our industry witnessed a few closures and consolidations. With the ongoing pressure on price, we think the trend of consolidation will continue.

You have had great success with your in-house JLT University program, a self-managed employee training platform. What were the original goals behind this programme and how has it developed?

We have won a number of awards in Singapore for this innovation in upskilling and the Group considers it such a success that there are discussions to take the concept to other markets as a best practice model.

JLTU, for which we won the Digital Innovation category of the Chamber’s Annual Business Awards last year, was created to provide our colleagues an opportunity to upgrade their skills and expand their horizon beyond their own specialties. The mobile platform we use allows for micro-learning on the go which is great for people with long commutes or pockets of free time in between meetings.

2019 will be a critical year for the business community as the UK manages its exit from the EU and the resulting trade deal(s). What are the impacts that you anticipate for your business and your industry?

Instead of hiring external consultants to create the content, we’ve tasked our in-house specialists to write the modules based on their real life experience. Distilling decades of accumulated information into 5minute modules is certainly not an easy task but our colleagues have very generously taken the time to share their knowledge and expertise with the wider business.

I believe that our industry is as prepared as possible for the exit to happen on schedule. Sufficient time has passed for many businesses to prepare for a number of contingencies and these plans will take effect as decisions come out of Westminster in the months ahead.

Our acquisition by Marsh & MacLennan will give us a strengthened position in Europe, and we remain confident that we can continue to service our clients whatever happens with uninterrupted support.

ABOUT THE COMPANY JLT is one of the world's leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. We are quoted on the London Stock Exchange, have over 10,000 colleagues and own offices in 40 territories. Supported by the JLT International Network, we service clients in over 135 countries. For more information visit www.asia.jlt.com

IN FOCUS INTERVIEW WITH THE EDITOR:

ANDREW BARROWMAN, CEO, JLT SPECIALTY ASIA

MATTERS OF OPINION: WHAT TO EXPECT IN 2019

Matters of Opinion: What to Expect in 2019

The British Chamber's network of member companies covers a fascinating and diverse scope of industries and business interests. As we start the new year together, we have invited our members to share their perceptions of the key priorities, opportunities and challenges for their industry or sector in 2019. What keeps them awake at night, and what has them enthusiastically brainstorming for their business?

Graham Silverthorne, Head of Campus, UWCSEA (East)

Education Alan Stevens, Master, Marlborough College Malaysia “As the fireworks faded and the New Year celebrations subsided, 2019 began in controversy and antagonism over Trump’s wall, May’s Brexit, the Cino-US trade war and the potential for global economic headwinds. Every parent wonders how we can best prepare our children for uncertain times. The answer lies in enabling them to do those things that are of enduring value and that machines cannot do.

In addition to teaching linear knowledge, schools must require lateral thinking; creativity becomes increasingly important. The schools that are future-proof will adopt a curriculum and a culture that are designed not just to drill candidates narrowly towards grades, but which prioritises courage, integrity, teamwork, communication, empathy and confidence. It may be too late for interns to begin from scratch, so producing a generation of schoolchildren with such an outlook will provide tomorrow’s leaders with the edge that will serve society.”

“What keeps me awake at night is thinking about the opportunity for developmental transformation. The education industry has to date been largely unaffected by the onset of the 4th Industrial revolution during a period where industries like the music, newspaper and media more broadly and travel have been disrupted beyond recognition. Without doubt, major change is coming to Schools and Universities and the emergent agent is technology. What I think about at night is how we keep ahead of the changes, take advantage of the progress of other industries and continue to offer relevant, viable and sustainable frameworks for learning. This is thinking that is fascinating, exciting, terrifying and not in any way optional. We will always need education but we may not always need schools - or certainly not in the form that they exist today. I think all sensible schools are thinking: 'what next'? This does keep me awake at night.”

Jay Thompson, Director of Educational Technology and Innovation, Dulwich College (Singapore) “We see an opportunity in developing student competency in an ever-changing digital landscape so that students are prepared for an indefinable future. Technology is progressing rapidly, bringing new opportunities for employment, communication, health and leisure. As a result, schools are being pushed to evolve their practices and future-proof students for an uncertain future. Looking forward, artificial intelligence will offer fantastic opportunities for providing personalised educational experiences; with learning happening on demand and tailored to each individual’s needs.

New methods of communication will enable students to collaborate more widely, leaving the confines of the school through virtual reality and connected devices. Technology will also place more emphasis on student being creators rather than consumers, with schools shifting from purveyors of knowledge to globally connected think tanks. With access to ever greater quantities of information, more importance will be placed on creative thinking, complex problem solving and STEAM with students viewing, creating and manipulating data at its origin. Traditional content will be transformed into interactive, open-ended inquiries which allow students to work alongside mentors to examine information and create meaningful social change. The future might be uncertain but the opportunity to prepare our students for the future is an incredibly exciting challenge.”

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Finance Wanying Lim, Relationship Manager, Julius Baer “The past 10 years were phenomenal for investing. Global equities doubled in value while bonds rose by a third. At the same time, volatility and rates dropped to historic lows. Yet in the past few months, these trends have seen somewhat of a reversal. Tightening financial conditions, a stronger US dollar and a more volatile political setting have led to higher volatility across all asset classes. What can we expect in 2019 and where can investors generate returns? From today’s perspective, the Fed softening will be the story of the first half of 2019, while China’s stimulus may become more relevant in the second half. China’s monetary easing and tax reform could set the stage for a more meaningful recovery. In the meantime, the reaction to the recent crash is key. We continue to see the current formation as a cyclical bear market in a long-term bull market, with upside in the weeks ahead.”

Ash Tong, Asia Pacific Consulting Services & Business Development, JDX Consulting “With the continuous introduction of new regulations and tighter deadlines for compliance, financial institutions are now required to collect significantly more data and documentation than before. This has been the main driver for a focus on Client Lifecycle Management (CLM), the concept of managing a bank client from onboarding all the way through to offboarding. The main challenge of this space comes down to data fragmentation due to inconsistent operational procedures across a global landscape. The outcome is significant spending on correcting inefficient processes, by creating large scale business transformation and automation programs, or indeed increasing headcount in operational teams. At JDX our 2019 is focused on building on the momentum we have seen in 2018. Our priority is to continue to provide expertise in the introduction of strategic solutions. This could be anything from building more stringent KYC processes, data remediation teams or new scalable sustainable technological workflows.”

Matthew Lempriere, Head of Asia Pacific & Middle East, BSO “One of the biggest challenges for financial services firms this year will be to change their business models to incorporate the rise of new digital assets and new technologies, such as distributed ledgers. The latter allows multiple parties to simultaneously access a central database which is updated in real-time, making the exchange of information more secure, accurate and efficient. As a result, financial firms will have to change how they operate and how they use, store and interact with data.

The technology is developing quickly so it is important for firms to maintain flexibility and use infrastructure which can be easily changed and scaled up, while not compromising on high levels of performance, stability and security.

Another challenge is to maintain access to liquidity as markets have become more volatile. Again, it is important to have the right technology in place to be able to connect to the right markets at the right time. In an uncertain world, the certainty of having the right technology infrastructure helps firms sleep at night.”

MATTERS OF OPINION:

WHAT TO EXPECT IN 2019

MATTERS OF OPINION: WHAT TO EXPECT IN 2019

Wine & Spirits Sam Mudie, General Manager, Singapore, Cult Wines

Paul Kelleher, Corporate Relations Lead, Asia Pacific, Diageo

“We have been in business since 2007 and increasingly attracted clients from Singapore and the surrounding ASEAN region. Historically these relationships have been managed from our offices in London and Hong Kong. Given the market appetite for wine investment, and to better support our customers, it was a natural move to set up here in late 2018. Key priorities for 2019 include growing our relationships with both domestic and regional clients, further extending our service offering and to develop our partnerships with a range of family offices, wealth mangers and banks. The global economic outlook for 2019 has some challenges however we see many as opportunities specifically around portfolio diversification, strong and consistent performance of investment grade wine and the increasing local knowledge of the global fine wine market. The continued strength of the Singapore economy gives us great confidence to grow our business during 2019 and beyond.”

Law Reed Smith “As Singapore bolsters its position as a leading legal centre and global arbitration hub, Reed Smith is seeing more demand for transactional, regulatory and arbitration support across its core areas of practice especially in Energy and Natural Resources and Shipping. The firm had a positive 2018, having made strategic hires to strengthen its service offering and moving into a larger office space to accommodate its growing team of diverse legal practitioners. To adapt to today’s dynamic market, Reed Smith is committed to advancing legal innovation to transform processes and provide services that add value to its clients. The firm recognises the growing threats faced by its clients in an era of digital disruption and the greater need to support our clients as they navigate through these transitions.

Therefore, the firm has looked to bolster its IP, Tech and Data practice in Southeast Asia including through strategic hires in Singapore.”

“We at Diageo are excited about the continued growth potential across Asia as the region represents about one third of global beverage alcohol sales and enjoys strong demographic fundamentals, accounting for about a quarter of global legal drinking age population growth. The strong urbanisation trends and emerging middle-class is seeing consumers getting more exposed to international brands like Johnnie Walker, Singleton or Tanqueray and premiumisation trends are particularly strong. We see a real opportunity in the premium and prestige spaces where people are drinking better, not more, and we couldn’t be happier.

Last year we kicked off a global conversation about #DrinkPositive within Diageo, starting with our own employees.

Drink Positive means being proud of how our products are made, marketed, and most of all, the enjoyment they bring. We all have a role to play in promoting moderation and encouraging friends and family to drink better, not more.”

Dominic Wrench, Associate, Taylor Vinters “The exciting opportunities that access to developing ‘LegalTech’, the use of automation, and exploitation of artificial intelligence bring to the legal sector means that 2019 will be another year of flux. Those involved in the legal sector (not just lawyers!), are being driven to be more cost and time efficient and it is likely that those organisations that embrace the opportunities, rather than resist change, will likely see the greatest development in 2019 and longevity in the future.

Singapore is one of the countries taking the lead in the digital transformation of the legal sector, which means that it’s a great place to be in 2019 for organisations willing to innovate!”

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Insurance Aya Alimkulova Corporate Account Manager, Pacific Prime

“2019 is set to be a challenging yet fruitful year within the international health insurance and employee benefits industries.

Pacific Prime is focusing on a number of important trends in the coming year: • New compliance and insurance regulatory concerns in various jurisdictions worldwide.

• Addressing the increasing demand from corporate clients for more comprehensive and flexible employee benefits and wellness plans, while also balancing the demand for simpler, more easy to use products.

• Premium inflation will continue to be an ongoing concern for insurers and brokers alike this year, as companies attempt to innovate without losing a balance between cost and service.

• Safe IT systems and data protection are now more important than ever in the insurance industry. People have high expectations about their privacy, and governments are going to great lengths to punish lax handling of personal data. Cyber security is also gaining prominence for insurers, brokers, and clients alike.”

Professional Services Max Loh, EY Asean & Singapore Managing Partner, Ernst & Young LLP “The acceleration of change and scale of disruption from digitalization, globalization and other forces means organizations have to transform to thrive. Our challenge and opportunity is to help our clients tackle the profound impact of such change on their business – and likewise on ours. As such, innovating how we work, how we serve our clients, and the services and solutions we bring to the market has and will continue to be a major focus. We look at innovation holistically, exploring opportunities to leverage emerging technologies to drive impact and efficiency in every function of our business. For example, we have invested in a new globally connected EY wavespace innovation center in Singapore that brings together technologists, business strategists and experience designers to address transformational opportunities for clients using technologies like intelligent automation. How we marry “suits” and “jeans” in professional services to serve our clients and to that end, attract the right mix of multi-generational and multi-disciplinary talent will be a constant priority.”

Simon McKenzie, Client Director, BRIDGE Partnership “At BRIDGE, we believe that for an organisation to deliver on shareholder value and be a stronger force for good it needs to have more than just a brand statement – it must live a meaningful purpose and truly connect with this in all its activities, from strategy to culture, inside and outside the business. The UN’s Sustainable Development Goals offer companies an astounding business opportunity that extends prosperity to all, helps rebuild trust with society, and is valued at US$12 trillion in new business opportunities by the Business & Sustainable Development Commission. Unsurprisingly, more and more pioneering leaders are focussing in on their purpose.

We are dedicating 2019 to helping companies unearth this purpose, becoming more conscious yet profitable.

We guide Executive Teams willing to go on this journey, to have a profound, positive impact on the wider world, and develop the organisational mindset and capability to make this a reality.”

Recruitment Andie Rees, Managing Partner, South East Asia, Odgers Berndtson “Change has always been the only constant. However, in 2019 the pace of change will be unprecedented. Technology now drives every sector that we operate in - industrial, consumer, technology, life sciences and financial services. Demographic changes create challenges as well as growth. China’s changing economy throws up risk, uncertainty and growth opportunities.

Our challenge is to support our clients to appoint leaders with an agile mind-set. Hiring leaders for their mind-set over the traditional criteria of skill-set will provide companies with critical edge, not just to survive disruption but to capitalise on it.

Coupled with this, we have an opportunity to vastly diversify the pool of leadership talent with both emerging senior local talent and the rapidly growing cohort of women leaders.”

MATTERS OF OPINION:

WHAT TO EXPECT IN 2019

MATTERS OF OPINION: WHAT TO EXPECT IN 2019

Management Strategy Dennis Heath, Managing Director & Senior Management Coach, WayAhead Leadership Solutions “The talent shortage in Singapore is becoming increasingly acute. The need to retain and develop existing talent is an imperative for companies to stay competitive. Hygiene factors of pay, working conditions and benefits are without question an essential element of retention, however, it is effective leadership that determines whether an organisation thrives or decays in these challenging times. In many organisations, employee development schemes are aplenty up to middle management level, on the assumption that senior managers must be exemplary in their leadership skills and therefore do not need further development. Whilst this may be a correct assumption in some cases, it misses the point. Organisations embracing a sustainable growth strategy must by default be a learning organisation, including senior management. John F. Kennedy once said, "Leadership and learning are indispensable to each other." What is your organisation doing to help your senior managers be the best they can be?”

Kris Sasitharan, Managing Director, Ren Advisory “Peer coaching is the process whereby two or more individuals of relatively equal status get together and help improve one another’s development. Peer coaching can be more than just a catalyst for culture change – it can be part of the culture change itself. Peer coaching isn’t a new phenomenon - over the decades the nomenclature may have changed. In the end however, it is a resonant, sustainable relationship between individuals - a form of friendship. It creates a knowledge-sharing organisation whereby people learn from & support each other – collaboration as opposed to management by conflict. Implemented well, this emotional bond created by Peer Coaching aids the facilitation of culture change. Consequently, the organization benefits from more innovation, adaptability, better performance, and a more engaged workforce. In contrast, organizational task groups typically aren’t focused on building emotional bonds amongst group members. This may be one reason why they encounter challenges as they’re more outcome focused – and by default, short-term in outlook.”

John Bittleston, Founder, Mentor & Executive Chair, Terrific Mentors International “As the pace of change quickens and technology increasingly dictates how we work I find it strange that management practices do not also change to reflect the required new styles and standards of business and personal interaction. Running a company seems to be stuck in the Drucker age. The Business schools are still teaching case histories of a sort and in a way nobody actually working would dream of handling an opportunity or a problem. Quite simply, the aspirations of an improved, more society-based capitalism are talked about but honoured only in the breach. What is needed now is a fundamental restatement of the responsibilities of all organisations for the planet, its inhabitants (human and otherwise), its future and its potential. As Yuval Noah Harari says 'Homo Deus is upon us'. How shall we equip ourselves to be ready to be that person?”

Mark Stuart, Head Trainer, Anagram Group “The corporate training industry is at a crossroads as it struggles to identify its place in a changing corporate environment, stuck between leveraging advanced technologies, and the benefits of in-person classroom training. L&D departments are rapidly increasing the amount of online training so their employees can learn in their own time, however question marks remain on its effectiveness and engagement. At Anagram Group, we’re constantly trying to stay relevant to our clients and adding maximum value.

Doing the same as we did two years ago won’t cut it, so our focus is currently on corporate innovation and looking at the future of leadership. We’re very much focussed on preparing leaders for the future of work in a way that ensures knowledge retention and provides them with practical skills that they can use immediately.”

Helen Coult, Director, Asia Pacific, Armstrong Craven “We are already seeing increasing demand from multinational corporations to enable them to put in place strategic plans to identify and attract the best local talent.

There is a desire to move away from an over dependence on expat talent in favour of developing and promoting home-grown candidates for a range of senior roles. In a number of South East Asian new market entries, an expat may have been installed as a country leader in the first instance but with the objective of ensuring that local talent is brought through as part of the company’s succession planning. Such an approach can give the best of both worlds. It allows the organisation to know it has a good person in the role with immediate effect but, secondly, it presents an opportunity for the expat to pass on skills and knowledge to locals. A growing number of our talent mapping and pipelining projects are focused on helping MNCs achieve the right blend of expat and local talent and we expect this to continue to be the case throughout 2019.”

Property

Built Environment

Lynne Geeves, Director, Benham & Reeves Residential Lettings

Randal Jones, Global Sector Leader, Built Environment, Mott MacDonald

“Helping wary investors find opportunities in the middle of uncertainty is bound to keep us busy through 2019 and beyond. The London housing market has understandably slowed as businesses wait to find out what exactly the UK’s relationship with the EU will be. We’re confident that London-based sectors with global connections, such as banking and higher education will be flexible enough to offset any loss of European trade and stimulate recovery. An increase in available properties for sale is also having a cooling effect on the London sales market, but a relatively weak pound coupled with lower prices should result in us finding some good opportunities for investors as new rental hotspots are becoming commercial hubs in their own right. We’re optimistic that they’ll attract young professionals, who have traded their desire for starter homes for “lifestyle rentals” that offer convenient transport links and good quality on-site facilities.”

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“One of our key 2019 priorities is the ongoing pursuit and development of digital and data solutions for our clients across all aspects of the built environment. The explosion of data driven applications and digital technologies over the last five years is transforming the way we develop our built environment in a sustainable way, radically changing how we deliver outcomes for clients.

Great progress made in recent years will continue through investment in our people, our systems and tools to deliver smarter through automation, coding, machine learning, data analytics, generative design, model-based toolsets and computational modelling. We are witnessing a rapid rise in the industry adoption of more productive approaches to infrastructure delivery, such as DfMA (Design for Manufacture & Assembly) alongside the deployment of virtual teams of global practitioners on local projects using common digital and data environments that bring real-time, global sharing and collaboration with delivery partners. It is an incredibly exciting time given the speed of the transition and endless innovation opportunities which are unleashing the potential of our people.”

Technology Stephen McNulty, President, Asia Pacific, Micro Focus

Ian Jones, Chief Strategy Officer, AMPLYFI

“Global businesses struggle to get in the driver’s seat with new age of data privacy regulations.

With GDPR privacy enforcement in effect, many organizations remain behind the curve on meeting the compliance deadline, wondering whether penalties for failure will have real teeth, while in parallel not knowing where to start on their compliance journey or whether they will pass the next audit. Globally, many countries are following suit with their own variations of requirements to protect consumer data, such as Philippines’ DPA and China’s Personal Information Security Specification. Will these standards create conflicts or offer synergies when implementing a universal privacy program? How does a global organization meet the definitions for protection across inconsistent mandates? How can every bit of sensitive data be discovered, classified and protected according to a wide range of rules? 2019 may be a year of reckoning for many, but organisations with clear plans executed to make privacy a priority may find that getting ahead of consumer privacy yields new business values.”

“Our own machine-driven predictions for 2019 indicate that, whilst artificial intelligence (AI) is positioned to impact across the board, its uptake is expected to vary significantly by industry, sector, and geography. Continued AI deployment in “behind the scenes” applications such as search engine optimisation, tailored adverts, condition monitoring, digital assistants etc is a given. Commercial traction in areas such as medical diagnosis and self-driving cars will remain challenging with major technical and regulatory hurdles still to overcome. The major growth opportunities for AI lie in big data and predictive analytics, especially in enabling smarter, faster commercial decision making and improving productivity. In leading the emerging Business Intelligence 4.0 phenomenon, AMPLYFI understands that success in this space is dependent on building users’ trust in machines by developing transparent, auditable, and intuitive platforms. This is critical to engaging and empowering multiple user communities across organisations and maximising the value-add of AI.”

MATTERS OF OPINION:

WHAT TO EXPECT IN 2019

FEATURE:

KEY TAX CONCESSIONS YOU MAY BE MISSING OUT ON AS AN EXPAT

Key Tax Concessions you may be Missing out on as an Expat

By Boon Tan, Managing Director, CST Tax Advisors Pte Limited Personal tax returns are due for lodgement in Singapore by 15 April 2019. The good news is that your Singaporean tax return is generally easy to do. For many, the process takes 5 minutes and is done online - which contrasts with the reams of paper that accompany returns in the UK. This article outlines the key concessions for expats to consider when it comes time for preparation of your Singaporean income tax return.

The Singaporean tax system is much simpler than in the UK due to its territorial basis of taxation. This means that Singapore only levies a tax on income sourced here. The term “sourced” means income that is generated in Singapore – e.g., employment income, interest paid by a local bank. Foreign income, such as rental income from your principal residence or investment property in the UK, is not taxed in Singapore – even if you bring the funds to Singapore.

Other income generated from interest, dividends, and capital gains on the disposal of assets anywhere in the world is all exempt from tax in Singapore. Besides, there are limited deductions that one can claim as an individual.

Notwithstanding this, here are some of the key concessions that you may be eligible to claim.

Not Ordinary Resident (“NOR”) Scheme The NOR Scheme was introduced as an incentive for global firms to use Singapore as a regional base, and to bring talented individuals to the country. Under the NOR Scheme, you can pro-rata your taxable income based on the number of days you have worked outside of Singapore during the year – meaning that your effective tax rate can be reduced to a rate as low as 10%. Note that this is a concession under Singaporean taxation and does not mean that the untaxed income in Singapore is therefore taxable in the country you worked.

To qualify for the NOR Scheme, you

You are entitled to claim tax relief for supporting a child - equal to $4,000 per child regardless of where they live. must meet ALL the following criteria: 1. Your taxable income in Singapore must be at least $160,000; 2. You must have travelled for work for at least 90 days during the year; 3. You are a tax resident of

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Singapore in the year you are claiming the concession; and 4. You must not have been a tax resident of Singapore for the three years before the year in which you are applying the NOR Scheme.

You can claim NOR for the first five years that you are a tax resident of Singapore. If you do not qualify for the Scheme for one year during this period because you did not travel at least 90 days, you will lose one year of eligibility. To apply for the NOR Scheme, you must lodge a claim each year at the time you file your tax return. Your claim must list the number of days and where you have worked outside of Singapore and must be certified by your employer as being correct. In years that you qualify but fail to make a claim for

the NOR Scheme when you lodge your return, you cannot go back and amend the return to claim the concession.

Tax reliefs Singapore’s tax system provides tax residents with tax reliefs which reduce your taxable income. You can claim and apply as many reliefs that you are eligible for each year. Four common tax reliefs that can be applied when preparing your tax return include: 1. Spouse relief If you are supporting a spouse who is not working and/or earning less than $4,000 from worldwide sources, you can claim a relief of $2,000.

2. Child relief You are entitled to claim relief for supporting a child equal to $4,000 per child regardless of where they live. Each child must be aged less than 16, or if over the age of 16 they must be in fulltime education (not necessarily here in Singapore) and cannot have an annual income of more than $4,000 from worldwide sources. The system recognises stepchildren and adopted children as qualifying for this relief.

3. Life insurance premiums You can apply a tax relief of up to $5,000 for the payment of life insurance premiums if your insurance provider has a branch or presence in Singapore. You may, therefore, be able to claim this relief for premiums paid in the UK.

FEATURE:

KEY TAX CONCESSIONS YOU MAY BE MISSING OUT ON AS AN EXPAT

FEATURE:

KEY TAX CONCESSIONS MAYWELLBEING BE MISSING OUT ON AS AN EXPAT THREE WAYS TO BOOST YOU MENTAL

If you have made donations during the year to a local cause, you are able to claim a deduction of 2.5 times the amount you donated.

4. Foreign Maid Levy Relief If you are a woman working in Singapore and employ a maid which requires you to pay the foreign maid levy, you will be able to claim a relief equal to twice the levy amount paid for one domestic helper.

must be made in cash to the Government or any institution of public character which allows for their donations to be claimed at the 2.5 times rate.

Donations

While the Singaporean tax system is a lot simpler than the UK, you should speak with a qualified advisor ahead of lodging your personal return and ensure that you claim all the concessions you are entitled to.

If you have made donations during the year to a local cause, you are able to claim a deduction of 2.5 times the amount you donated. To be able to make a claim, donations

ABOUT THE AUTHOR Boon Tan is a Chartered Accountant and has been working in the international tax advisory sector for over ten years.

Born in Australia with Singaporean roots, Boon relocated to Singapore at the end of 2015. As an expat living in Singapore, he has first-hand knowledge and experience of what expat families go through to establish themselves in a new city. He regularly draws on his indepth understanding of the local Singaporean tax system and a network of in-country specialists in expat hotspots around the world including USA, UK, Asia Pacific, and Australia to provide bespoke tax advice to clients.

Claiming everything you are entitled to

ABOUT THE COMPANY Since 2004, CST Tax Advisors have been providing international tax advisory and compliance services to organisations entering or operating in Singapore including expat employees and their families. Guided by our core values of empathy, accountability, and passion, we take great pride in going above and beyond for our clients. We ensure that our individual, family and expat employee clients are compliant with their tax obligations by providing “complete lifecycle” tax advice and tax return preparation. This includes managing and coordinating their tax affairs in Singapore, their country of origin and any other countries in which they may hold assets. For more information, visit csttax.com.sg

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The Most Effective Workout for Busy Women

By Alex Mearns, Holistic Health Practitioner and Founder, Levitise In this article, Alex discusses if going to the gym and doing High Intensity Interval Training (HIIT), yoga, Pilates or resistance training is enough for the everyday busy women.

FEATURE:

THE MOST EFFECTIVE WORKOUT FOR BUSY WOMEN

FEATURE:

THE MOST EFFECTIVE WORKOUT FOR BUSY WOMEN

Running, cardio and endurance training For most women, the first exercise they think of when wanting to lose fat is running. It’s easy, cheap, requires no equipment and can be done anywhere.

However, is it the most effective way to lose fat both in the short and long term?

Unfortunately, it is not. For most women, it fails miserably for the following reasons: 1. Long bouts of cardio cause your brain to release more ghrelin (the hunger hormone) which causes you to eat more, in particular, carbohydrates.

After your workout, unless you are very disciplined, you will likely eat more than is required to purely replenish your glycogen stores.

Excess sugar in the diet will be preferentially stored in the muscles or otherwise, it will be converted into fat.

2. Increased cardio begets more efficient energy pathways as the body finds ways to repeat the exercise with the least amount of energy as possible. Therefore, the more you run, the less calories you burn over time. This means that you need to run increasingly longer distances to avoid gaining weight overtime when consuming exactly the same amount of calories.

3. Fat is inert - it sits there doing nothing, burning no energy. Muscle, however, is metabolically active and requires energy 24/7 and even whilst

you’re sleeping. Endurance training cannibalises your Type II muscle fibres responsible for strength and power, resulting in reduced metabolically active tissue and decreased glycogen stores. So more running = less muscle = less energy needed by the body = less calories = greater likelihood of overeating especially if you stop running for a couple of weeks.

Increase in muscle density (and not size) will increase your metabolism and increase the amount of calories you burn even whilst you are sleeping.

HIIT HIIT has gained popularity recently and it can be more effective than endurance training for fat loss. HIIT involves different functional movements with very intensive short burst of cardio for approximately 20-30 minutes. This extreme workout should have you sweating buckets by

the end. It jacks up your metabolic rate and promotes calorie burning throughout the rest of the day.

The problem is that this kind of intensive training can be very stressful on the body. For many women with busy jobs, who also have families to take care of at home, they surely have enough stress in their lives. So, adding more on top of that is just going to ensure the stress bucket tips over and creates a cascade of new health challenges such as: • Appetite increase and sugar cravings • Increased fat storing rate • Reduced ability to burn fat • Increased belly fat Yoga and Pilates Yoga and Pilates can both be fantastic training modalities. When taught correctly, they both focus on the breath, good core mechanics and stability, postural correctness and body weight strength. The main problem with yoga is that it can often exacerbate underlying faulty movement mechanics if they are not addressed first. In addition, they do not challenge the body enough to build muscle and glycogen stores. Likewise, Pilates is a great way to start to learn how to take control of your body and activate your core, however to progress from here to fat loss can take a considerable amount of time.

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So, what is the most effective workout for women to lose fat?

The most effective is resistance training. It involves moving your body in a way, usually with weights, that forces your body to adapt by building muscle.

This increase in muscle density (and not size) will increase your metabolism and increase the amount of calories you burn all day and all night. Furthermore, the more muscle you have, the more insulin receptors and hence, the more space you have for storing any excess sugar you may have consumed. With less muscle, any sugar you don’t need will get converted into fat cells to be used in the future.

In summary here are all the benefits of resistance training: • Increased strength gains lead to increased confidence and empowerment • Sensible resistance training will help to stabilise your core which will benefit your posture and reduce back, neck and shoulder pain • Weight training releases endorphins which improve your mood and fight depression. They help to naturally combat stress and anxiety and stimulate the mind improving alertness and energy

ABOUT THE AUTHOR After 20 years in the finance industry Alex left the corporate world in late 2017 to start Levitise. After successfully curing himself of high cholesterol, high blood pressure, prediabetes and dropping 13kg in the process, he realised that Singapore was severely lacking in a truly holistic and integrative solution to address our common lifestyle complaints. So, he founded Levitise to fill that void. Alex is passionate about all things health and fitness related and specialises in helping people with weight management, fertility, hormone rebalancing, sleep disorders and diabetes.

ABOUT THE COMPANY

Great. So, how do I get started?

Look for a good personal trainer who has plenty of experience in designing successful resistance training programs targeted at fat loss for the average female office worker. Make sure you ask them the right questions when looking for a good PT such as: Q1: “What are the main postural and structural differences between women and men?“ Q2: “How does the Q angle affect your choice of exercise selection for women?”

Q3: “What % of your clients are women?”

Levitise is a Holistic Health and Fitness Center based in the CBD. They specialise in helping busy executives reclaim their health and fitness and finally rediscover what it’s like to feel energised, confident and young again.

The two services that Levitise provides are Personal Training and Holistic Lifestyle Coaching. For more information visit www.levitise.com.sg.

FEATURE:

THE MOST EFFECTIVE WORKOUT FOR BUSY WOMEN

FEATURE:

RENEWABLE ENERGY: THE INCREASING VIABILITY IN ASIA

Renewable Energy: The Increasing Viability in Asia

By Tim Rockell, Bree Miechel, Mark Florance and Allard Nooy from the Energy & Utilities Committee Renewable Energy is gaining traction in the fuel mix. A report issued by the Intergovernmental Panel on Climate Change (IPCC) in October 2018 warned limiting global warming to 1.5°C would require rapid, far-reaching and unprecedented changes in all aspects of society.

Many countries in Asia made significant commitments under the Paris Agreement in 2015. Increased support for renewables has generated a lot of jobs in the west and China (over 10 million worldwide according to a 2018 IRENA report) and is starting to ramp up in the rest of Asia as well. However, we have seen government policy vacillate between support for low carbon projects and appeasement of constituents through continued reliance on fossil fuels to keep costs low, maintain stability of supply, and support indigenous coal industries; the coal lobby has played its part to protect the status quo.

BritCham’s Energy & Utilities (E&U) Committee created an interactive panel session the same week as the IPCC report was issued to discuss renewable energy in Asia, its increasing economic viability and where and how projects are progressing and securing finance. Key discussion points included the importance of Feed-in-Tariffs (FITs) in kick-starting regional renewables energy generation through longer term economic incentives that promote the use of renewables and guarantee grid access; and the potential for standardisation programmes such as

the Terrawatt Initiative (streamlining regulatory processes and developing financial instruments with the aim of helping to secure funding at scale) and accelerating solar deployment, project hybridisation, options for overcoming bankability concerns, e.g. for Vietnam’s Power Purchase Agreements (PPAs), and the increasing role of regional banks.

Accelerating development of infrastructure in Asia is an imperative, including providing more energy and access to the have-nots.

The panellists who included Tharma Kunaratnam, CEO of Asia Power Development Platform, Graham Howes, Ventures Director Asia, BP Ventures, moderator Mark Florance, Climate Investor One, Allard Nooy CEO, InfraCo Asia, Bree Miechel, Partner Reed Smith and Angela Yoong, Global Structured Finance, SMBC, covered various fields of play including energy ventures, investment, finance, leadership capital legal and banking. Each facilitated

table discussions with the 90 attendees following the panel session. This concept was introduced by the E&U Committee and proved very popular with delegates; small groups discussed: 1. How project structures and contracts could be standardised for faster development.

2. Whether finance could become more accessible by hybridisation of renewable, storage and fossil fuels in projects.

3. Which markets are key and how capital in them can become more accessible.

4. How finance in large-scale projects stacks up vs mini-grid-scale projects Each group provided feedback to the main audience on the key points discussed at their table.

InfraCo Asia is working across 12 jurisdictions. CEO Allard Nooy gave a short presentation highlighting countryby-country renewable energy targets, investment attractiveness and solar tariffs; investments made by the ‘traditional’ oil & gas majors in the renewable energy space, and new investments in the clean energy space in the APAC region.

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Accelerating development of infrastructure in Asia is an imperative, including providing more energy and access to the have-nots. Thirty years ago, governments led the charge on national human development and electrification targets for schools, housing and industrial goals. Today with increasing feedstock prices governments have limited ability to step in. This is where the private sector has a role. Innovative solutions involving renewables, and fossil fuelled, battery / storage electrification solutions exist and are being deployed at scale.

Myanmar, Indonesia and Bangladesh provide opportunities to develop mini and micro off-grid electrification.

There is a constraint in the region.

Procurement costs need to come down.

Bree at Reed Smith leads a work stream on a global solar energy contract standardisation initiative launched by IRENA and a Paris based NGO. Project finance is becoming more diverse with new investors and new project bond and securitisation vehicles. There is now a good mix of local and foreign investment in the region. BP Ventures seeks to invest in companies bringing advancement in

technology and operational efficiency including companies with new service models.

Market conditions to accelerate renewables deployment and increase available capital further vary across the region. In the Philippines, there is finance available through well organised and growing skillset of sophisticated domestic capital providers. In Indonesia there is more opportunity for projects and to provide more capital.

Much has been said over recent years on project bankability. Investors need to show willingness to accept greater sponsor support to overcome bankability concerns of international banks. There is increasing willingness by governments to accept international standards. Risk is increasingly being allocated appropriately such as developers taking certain recourse risk where projects go wrong. In Vietnam, local banks are comfortable with national power champion EVN and PPAs for solar. However local banks in Vietnam tend to be insufficiently capitalised to provide larger debt tranches.

Financing tenors tend to be shorter

than typical international project finance. There is still a mix of attitudes across the region and this is where sponsor support is needed to fill the gaps as there is not enough liquidity in each market. Some investors are seeking scale. Having a 300-400MW pipeline won’t cut it for some investors.

The overall trend with Private Sector Participation (PSP) in the Renewable Energy Space in the Southeast Asian region is increasing. There are a number of markets where there are still restrictions on both foreign ownership as well as PSP. Some markets still have caps in terms of the percentage of private sector ownership or foreign ownership. Looking at the infrastructure subsectors, the power sector probably tends to be the first market to be opened up for PSP. In Southeast Asia, where we have seen positive movements in both the private sector as well as foreign direct ownership, Vietnam comes to mind as an example. The country has taken significant steps forward in order to attract foreign direct investment and that is in a number of subsectors, in particular the power sector. There are no limitations there on foreign

FEATURE:

RENEWABLE ENERGY: THE INCREASING VIABILITY IN ASIA

FEATURE:

RENEWABLE ENERGY: THE INCREASING VIABILITY IN ASIA

no limitations there on foreign ownership and no limitations there any more on PSP. Indonesia is another market where there have been positive steps forward to liberalise markets and to attract the private sector into infrastructure development and investments.

Advice for dealing with Indonesia’s PLN is to do your technical homework. Understand which supply substation you can access.

Impact studies are a good investment.

InfraCo Asia developed a hydro project in Vietnam which became operational in 2016. After the commercial operation date (COD), refinancing of the project by a local lender reduced the cost of borrowing by 150 basis points. EVN has not defaulted on any foreign PPA. After achieving COD, payments

by EVN have been received monthly

without issue.

There are still markets that do have restrictions. Myanmar must be mentioned because it is in great need of a whole lot of investment in infrastructure. It is 20 years behind the rest of ASEAN in infrastructure development and has to improve access to better infrastructure for the citizens of Myanmar. Again, there have been some really positive movements in the recent past: a number of sectors are being opened up for PSP as well as foreign direct ownership, and restrictions on certain sectors have been lifted.

There is cause to be bullish on Myanmar, given the very recent changes in legislation.

Markets that still have restrictions to prevent market access for foreign direct investment and/or

PSP include the Philippines. The Philippines still has a ceiling on ownership by foreigners in the renewable energy sector, which is currently capped at 40 percent, and that restricts the further development of this sector.

InfraCo Asia is mandated to develop projects where the risk is very high.

So it undertakes some very earlystage, high-risk infrastructure project development. The Company acts as a catalyst to attract other private sector investors to participate at the appropriate time when risk has been reduced / managed in South and Southeast Asia. InfraCo Asia has investment criteria and key performance indicators (KPIs). One of these KPIs is the number of dollars attracted from the private sector for every dollar that InfraCo Asia has spent during the development process,

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financial close. Attracting private sector capital accounts for a combination of commercial debt and private equity. For every dollar that InfraCo has invested prior to financial closure, it has been able to attract $12 from the market, again a combination of debt and equity.

Hybridisation can improve access for renewables. Responsive gas fired power stations enable the balancing of supply and demand due to variations in the supply from natural sources of energy and demand by consumers. Digital technologies and a broad generation portfolio enable a blended tariff to be provided to customers, simplifying purchasing decisions whilst delivering a reduction in carbon intensity of electricity supply.

Government incentives are

important to advance renewables deployment. To accelerate change and recognise the full cost climate impact of emissions from different energy sources, a mechanism for carbon pricing is required. Subsidies are not a sustainable long-term solution to drive change; often targeted or benefiting high energy users. They are good at stimulating activity but can prove to cause market disruption if structured poorly or removed prematurely. BP alongside other majors has been a long-term supporter of a carbon pricing to recognise the climate contribution of different forms of energy.

Some areas are underserved by investors and developers. If the aim is to decarbonise energy supply then greater participation in distributed generation and

energy management is required.

These approaches improve the efficiency of energy delivery and could provide a larger supply-cost benefit to the customer. However, it is the very distributed nature that makes it a difficult market to deliver scale quickly, making it unattractive to financiers. Digital technologies for metering, monitoring and management are helping but business models around aggregation or amalgamation are required to obtain significant breakthroughs.

The oil & gas sector has a role to play in advancing the renewables market. Most oil & gas majors are responding to the clear trend for a growing energy supply from renewables by transitioning their businesses to lower carbon sources of energy. These include taking a larger presence in natural gas plus

FEATURE:

RENEWABLE ENERGY: THE INCREASING VIABILITY IN ASIA

FEATURE:

RENEWABLE ENERGY: THE INCREASING VIABILITY IN ASIA

greater involvement in the biobased supply chain. Natural gas is an ideal replacement to coal for centralised generation and maintains flexibility in the system.

Lessons have been learned in terms of the food vs fuel challenge and increasingly disadvantaged feedstocks such as used-cookingoil and municipal waste are being accessed. International oil companies are also actively participating in the development of wind and solar projects bringing increasingly relevant expertise such as off-shore operations to the wind sector.

Corporate Venture Capital’s (CVC) role in renewables financing is to

participate in early stage investments into technology and business models where there is the potential for disruption through significant performance improvement or new routes to market. With a long-term market view and technical expertise it is possible to place bets that, if successful, could deliver step change. CVC also has a role in later stage participation, where the first pilot or commercial scale plant is being financed. Corporates in the process sector can bring knowledge and networks to assist first-of-a-kind builds. In addition to equity investment by BP Ventures, the operating businesses of BP can potentially enter into a

commercial agreement with the investee company.

In summary, there is huge opportunity for investors, financiers and the traditional oil & gas industry to participate in the sector in Asia.

While there is a large energy-city professional and technical support base in Singapore accessible through BritCham’s Energy & Utilities Business Group’s members, it is important to work-out where you need to properly focus your homework on local markets to reap the benefits of electrifying the region.

Tim Rockell, Bree Miechel, Mark Florance and Allard Nooy are part of the British Chamber's Energy & Utilities Committee:

ABOUT THE AUTHOR Tim Rockell relocated to Singapore to launch the KPMG Global Energy Institute for Asia Pacific in November 2012. He has extensive experience of emerging markets. He was based with KPMG in the Middle East from 2005-2012 where he focused on Energy clients, particularly in Saudi Arabia.

Previously he was based in KPMG’s London office as the Global Energy & Natural Resources Sector, Executive Director.

ABOUT THE AUTHOR Bree has lived in Asia for over 15 years and is a specialist projects and construction lawyer and partner of international law firm Reed Smith. She advises on renewable and conventional power, energy efficiency, oil and gas, transport and water and waste, and commercial development projects worldwide.

She is recognised as a thought leader in clean energy and leads a work stream for a global solar energy standardisation initiative launched by IRENA and a Paris based NGO.

ABOUT THE AUTHOR Mark has over 25 years' experience in corporate finance advisory, mergers and acquisitions, equity capital markets, debt capital markets and debt restructuring in Asia across most industry sectors, particularly energy, telecoms, resources, consumer, banking, media, property and transport. Mark started his career at Arthur Andersen before moving to NM Rothschild & Sons Limited, Australia in 1988. Mark became founder and managing director of S.E.A. Strategic Pte Limited, a company involved in strategic consulting around private equity.

ABOUT THE AUTHOR Allard Nooy is responsible for the InfraCo Asia’s strategic transformation process. Allard drove the development and implementation of its ‘multidevelopers’ and co-investment programme. He has over 25 years of strategic executive leadership experience in emerging markets and has successfully led and acquired infrastructure, energy and environmental companies throughout Asia.

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Rise of The Machines

By Dan Paris, Regional Director Asia Pacific – Business Development, TBWA\Group Asia Pacific In the last twenty years, we have entered a new era in which technology is now driving culture, culture is driving technology and a new breed of 21st century companies continue to disrupt traditional business models at a pace that was unimaginable as that teenager growing up.

FEATURE:

RISE OF THE MACHINES

FEATURE:

RISE OF THE MACHINES

Like most teenagers growing up, I had rules to follow. Sport was always on Wednesday, Fish was on Friday, the evening news was always at 10pm, and if I was well-behaved all week, I got a matinee film at the cinema on Saturday. But I also grew up in a generation of rule-breakers, disruptors and great thinkers who had a point of view on our future. I watched ‘Tomorrow’s World’ (Netflix needs to recommission that programme) and science fiction films, but my true thirst for innovation came from working in a family business built around consumer electronics where I lived in a permanent cycle of “new and improved” technology upgrades, annually celebrated at London trade shows.

In 1979, the first major cultural disruption came with the SONY Walkman (remember those!) and my embrace of new technology and its impact on culture has never stopped since. VHS recorders, compact disc players, camcorders, MP3 players, cellular mobile phones and the mighty DVD. In my mind, that pace of change was relentless.

And then the world categorically changed – the internet was here.

In the last twenty years, we have entered a new era in which

technology is now driving culture, culture is driving technology and a new breed of 21st century companies continue to disrupt traditional business models at a pace that was unimaginable as that teenager growing up. The largest sports audience is now in esports.

The gaming industry is bigger than the movie industry. The largest movie house owns no cinemas. And the most valuable retailer has no inventory.

scrolling Instagram, over $860,000 are spent online, and there are over 936,000 views on live-streaming platform, Twitch. ‘Gone in sixty seconds’ has a whole new meaning.

As someone that has spent most my working life in advertising, I honestly believe we have reached a point where the scarcest commodity of the near future will be human attention. Marketing at the Speed of Culture has become the new reality.

We live in a new social media generation where influencers are more persuasive than governments, and so much content is being generated that the average human is drowning in images and videos – spending more than five hours scrolling though stuff each day. 330ft of stuff in fact. And that’s with our thumbs.

But in truth, we are only just beginning.

Marketing at the Speed of Culture has become the new reality To put this magnitude of content into perspective, in one internet minute, 266,000 hours of Netflix are watched, 174,000 people are

As we close out this decade, we will look back and recognise it as the mobile decade. An era where anything was possible from anywhere. Ahead of us though lies a remarkable new chapter in consumer behaviour which some consider (including the World Economic Forum) as the Fourth Industrial Revolution. A new decade built around automation. A decade of building trust with artificial intelligence (AI), and of humans redefining their relationship with technology and what it can do for them.

That era is well underway. Google Home, Amazon Alexa, Apple HomePod and other new entrants

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will be the 21st century equivalent of VHS vs Betamax, as integrated automation moves into our homes.

More advanced technology is powering bigger and better data solutions in every space – from healthcare to retail to transportation. We will live with our own individual AI as a personal concierge to run everything we do as we seek to bring order to the chaos of the content around us. AI will run in the background managing our lives seamlessly from travel planning to dinner reservations – and in my view, will be a welcomed upgrade to the data mess we have lived in these last few years.

So what will this all mean to the future of business?

Opinion may well be divided on this, but one way or another, the next chapter of radical disruption is arriving. Transformation to a new 21st century reality and all the amazing ideas I saw on ‘Tomorrow’s World’ as a kid, will soon be upon us and companies need to radically rethink their approach to marketing and consumer engagement or risk falling behind. Innovation will be a pre-requisite as the speed of change continues to accelerate and new start-ups look to disrupt more traditional business models.

ABOUT THE AUTHOR Dan heads business development for the TBWA\ Group Asia Pacific agencies across the region. Based in Singapore for over 16 years with the network, Dan’s experience spans agency leadership, network client leadership and leading the TBWA\ Groups key specialist integrated disciplines. Strategic by nature, his 25 years agency experience has covered many key industries including FMCG, Drinks, Retail, Property, Automotive, Education, Healthcare, Financial Services, Airline & Travel, Leisure and Business-toBusiness.

My advice to legacy organisations has been a consistent one – think 70:20:10. Seventy per cent of your budgets and resources should manage the business as usual.

Twenty per cent should be invested into scaling new products, services and solutions that show potential for your business. The final 10 percent should be for pure innovation. It should be separate and independent from other activities in the business, set aside for out-of-the-box, tangential innovation. Failure is expected in this space, so fail fast and move on.

There is a saying that the best time to plant a tree was twenty years ago. The next best time is now.

ABOUT THE COMPANY TBWA\Worldwide is a top-ten ranked global advertising collective that holds Disruption® at its core to develop business-changing ideas for brands.

TBWA has 11,300 employees across 305 offices in 98 countries and also includes brands such as Auditoire, Digital Arts Network (DAN), eg+ worldwide, The Integer Group®, TBWA\ Media Arts Lab and TBWA\ WorldHealth. For more information, visit www.tbwa.com

FEATURE:

RISE OF THE MACHINES

FEATURE:

THE MAGIC CARPET RIDE: THE GROWTH OF ROLLS-ROYCE MOTOR CARS

The Magic Carpet Ride: The Growth of Rolls-Royce Motor Cars

By Rolls-Royce Motor Cars Limited How has the reinvigorated super-luxury British marque navigated a region where volatile business conditions clash with starkly different cultures – and what lies ahead? We chat with Asia Pacific Regional Director Paul Harris to find out.

Since 1904, Rolls-Royce Motor Cars has tailored super luxury cars to rock stars, royalty and the world’s super rich. In 2003, after a tussle with rival German brand Volkswagen, the brand – which also previously owned British carmaker Bentley – separated from its more sporting sibling and became a whollyowned subsidiary of Munich-based BMW Group.

After re-establishing a new manufacturing headquarters in Goodwood, West Sussex, the reinvigorated Rolls-Royce Motor Cars brand developed its flagship, the first Goodwood Phantom in 2003, a mere four years after reconsolidating its assets.

Under careful stewardship from BMW Group, Rolls-Royce achieved sustainable growth, expanding its model portfolio to include pinnacle cars such as Ghost, the business person’s ultimate tool; Wraith, a super-luxury two-door Grand Tourer; and Dawn, a sexy drop-head coupe.

To attract younger and more progressive patrons of luxury, the brand also created “Black Badge”

variants of its Ghost, Wraith and Dawn models, featuring unique aesthetic treatments and performance tweaks that would increase the dynamism and character of each car without sacrificing Rolls-Royce’s famed “Magic Carpet Ride” – or the feeling of effortless gliding over the road in utter comfort.

Of course, the brand’s jewel in its crown is that of their Bespoke tailoring services – from leathers, woods to metal trims and 44,000 different shades of paint, nearly everything on a Rolls-Royce can be made to reflect its owner. In 2017, the marque created history by unveiling Sweptail, a one-off bespoke creation that revived the lost art of coachbuilding, a tradition steeped deeply in the history of RollsRoyce.

In 2018, Rolls-Royce Motor Cars had another seminal moment – the marque launched its first-ever SUV, named after the 3,362-carat Cullinan diamond, the largest ever found. The car was met with global acclaim, and the brand enjoyed a stellar year– 4,107 hand-built cars were delivered to customers worldwide in 2018, the highest number ever recorded in the British marque’s 115-year history.

Reflecting on the achievement, Mr.

Paul Harris, Asia Pacific Regional Director for the luxury carmaker said the result in 2018 was extraordinary, thanks to a contribution from a concerted team effort between the regional office based in Singapore, and some 25 dealer partners from over 15 different countries across the region.

However, according to Mr. Harris, RollsRoyce faced unique challenges in ASEAN, where there exists a multitude of languages, business cultures and multiple socio-economic factors. This would be the case, even as the brand looks to the future.

“We operate in one of the highest tax markets in the world, where prices for our cars can be one to three times that of European or American markets,” comments Mr. Harris. “Trading barriers such as import taxes, currency fluctuations and varying conformity with EU regulations on emissions further compound the difficulties faced by retailers in the respective ASEAN countries.”

But the ASEAN luxury market is resilient, according to Mr. Harris – it is just a matter of adapting. “We navigate the conditions and change the game by working closely with our partners. If it means setting up a Rolls-Royce showroom in a busy shopping district,

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or creating unique Bespoke experiences specially for ASEAN customers, then we make it happen,” said Mr. Harris.

as ASEAN’s luxury lighthouse, led the way as the leading market for RollsRoyce in the sub-region.

The Rolls-Royce Motor Cars showroom in question is a unique gallery-styled space located in Bangkok’s latest super-luxury retail destination ICONSIAM, and the Bespoke experience was a solo showcase of Rolls-Royce’s exquisite ‘Spirit of Ecstasy’ Fabergé Egg in Singapore to a group of highly-select patrons.

But what lies ahead?

As a result, even against this volatile backdrop, ASEAN markets hummed steadily ahead in 2018 despite volatile global headwinds, making a significant contribution to the overall performance of the region. Singapore, often regarded

Even as trade barriers loom and geopolitical tensions rise, Rolls-Royce remains defiantly optimistic. The Asia Pacific region is poised to increase its population of Ultra High Net Worth Individuals – or UHNWIs, Rolls-Royce’s target clientele – in the next 10 years or so. Because of this, Mr. Harris is confident that the brand will see even better days.

new products like Cullinan are already bringing us new customers.”

“I expect that with more wealth opportunities and an increasing number of high net worth individuals in the ASEAN region, more customers will seek a level of personalised ownership experiences and unique product offerings, which only Rolls-Royce will be able to deliver.”

It seems, then, that Rolls-Royce’s Magic Carpet Ride will continue gliding long into the future.

“There exists plenty of potential in markets like Cambodia, Vietnam and Indonesia,” Mr. Harris says, “and our

ABOUT THE COMPANY Rolls-Royce Motor Cars Limited is a wholly-owned subsidiary of the BMW Group and is a completely separate company from Rolls-Royce plc, the manufacturer of aircraft engines and propulsion systems. Some 2000 skilled men and women are employed at the Rolls-Royce Motor Cars’ head office and manufacturing plant at Goodwood, West Sussex, the only place in the world where the company’s super luxury motor cars are hand-built. This core operation is further supported by a global network of regional offices and more than 120 retailers. Visit www.rolls-roycemotorcars-singapore.com for more information.

FEATURE:

THE MAGIC CARPET RIDE: THE GROWTH OF ROLLS-ROYCE MOTOR CARS

FEATURE:

IMPROVE YOUR PUBLIC SPEAKING SKILLS

Improve your Public Speaking Skills

By Victoria Mintey, Founder, Presence & Impact Training Presenting to an audience is a task that makes most of us a bit (if not very!) uncomfortable. So, what are we doing about it? Actress and coach, Victoria Mintey, helps to uncover the common mistakes we make in preparing to give a presentation.

“I always get nervous when I have to present.”

“I feel really unnatural and awkward.”

“When I stand up all my points go out of my head.”

“I don’t have time to prepare.”

“My content is boring and there’s nothing I can do about it.”

Sound familiar? Public speaking is such a common fear yet most of us don’t know what to do to stay calm and improve our impact. Here’s a guide to what works and what doesn’t.

When tweaking it…

Spending time on your visuals is important but the slides are not the presentation, you are! The majority of your prep time should be spent working on your delivery - so close that PowerPoint window now!

When watching how others do it…

Yes, we will always admire how others speak with ease, but we should not try to copy their style, because it is theirs.

With support and encouragement to use your own style you can feel comfortable in your own skin.

Skipping the rehearsals…

People can be powerfully persuasive but that is not down to content. It is our expression, how we say it, the vocal tone and body language that speaks the loudest. So, if you don’t rehearse you have neglected to prepare the most impactful elements of your speech.

When talking about it…

“Let’s talk about my talk!”. If you’ve asked a coach or colleagues to give you feedback don’t waste precious time telling them what you think of it – find out what they think.

It is our expression, how we say it, the vocal tone and body language that speaks the loudest

Just getting through it…

When you are in the audience can you tell when a speaker is going through the motions? They are time poor, under pressure and they race through it like a shopping list. The audience thinks: “If the speaker doesn’t care then why should I?” and they tune out. To help with this “autopilot” problem we need to change our mindset from thinking about ourselves to focusing on the audience.

So how can we make public speaking more enjoyable – for the speaker and the audience?

Improving your public speaking cannot happen inside your own head. We need to do it out loud and experience how it feels to deliver the message in different ways. And we need to find out how we come across instead of critiquing ourselves. Coaching sessions and workshops give you space to practice, expert feedback and advice on how to prepare the crucial personal pieces of the puzzle, your mindset, your voice and your body.

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ABOUT THE AUTHOR Victoria is a sought-after coach and trainer helping people to become more natural, confident speakers. Born and educated in the UK she now resides in Singapore. Her coaching and workshops run in parallel to her work as a professional theatre actress and cofounder of Wag the Dog Theatre.

ABOUT THE COMPANY Presence & Impact Training by Victoria Mintey. We believe that with the right training every individual can develop a confident mindset for public speaking and a speaking style to match. We target your mindset first and then look at how this creates a voice and body language that connects with your audience. This mindful approach gives you the flexibility to speak up in any situation with any amount of preparation. We help our clients to express themselves with confidence, energy and impact whether that’s in a meeting, interview, pitching to a client or presenting to an audience.

Find out more at www.victoriamintey. com

FEATURE:

IMPROVE YOUR PUBLIC SPEAKING SKILLS

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Reshaping Retirement Plans for Longer Life Expectancy Contributed by the Financial & Fintech Committee

”What is the greatest economic risk facing the world today?”

This is one of many questions asked in recent investment seminars I have attended. The answers span trade between the US and China, geopolitics, Brexit and climate change. Along with these I would suggest longevity.

In 2015, the Office of National Statistics (ONS) confirmed that there were 14,550 centenarians in the UK. King George V sent the first message to a British national on their 100th birthday in 1917. British centennials now receive a message from the Queen on their 100th, 105th and every following year.

In September 2014, the Daily Telegraph published an article on the Centenarian Team (the Whitehall Office that ensures centenarians receive their birthday card from the Queen). Based on this article, the Centenarian Team is now seven people strong – up from a

single person previously.

Life expectancies have risen consistently, with each generation likely to live longer than their parents. This trend was refuted in a few articles in 2018 but the longterm trend is clear. The world is getting older and an older population needs to support itself for longer. Most people I speak to intend to retire at 65. If your life expectancy is 100, you will most likely be retired a year for each year you have worked. This just isn’t feasible.

A useful metric when it comes to the feasibility of retiring at 65 is the Old Age Dependency Ratio (OADR). This is the proportion of people aged 65 or older per 1,000 people aged 16 to 64. In 2016 the proportion was 285 per 1,000 and it is expected to shift upwards to over 450 per 1,000 within 30 years (Source: Office for National Statistics).

This throws doubt on the sustainability of pensions to fund retirement. The UK spent about GBP92 billion on the State Pension in 2016 compared to roughly GBP16 billion in 1986 (Source: The Office for Budget Responsibility).

Admittedly as a percentage of GDP this only increased from 3.9% to 4.6% over this period but growing demand will put pressure on a system which already represents the majority of welfare payments made in the UK. More and more individuals among the older generation are choosing to work past the age of 65 in the US and Europe. Working longer delays the need to draw capital from investments and pensions to fund retirement and the option of semiretirement should be considered.

The term ‘pre-retirees’ has emerged in recent years to describe this older working generation.

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The age of 65 generally remains as a goal for retirement but it appears to have little merit as people are now much more active into their later years. Examples such as Warren Buffet (88) to Fauja Singh (101 when he ran a 10km road race in Hong Kong) demonstrate this trend.

There is no simple answer to the

question of building a sufficient base of capital to fund a longer retirement. Perhaps consider working for longer or working for fewer hours each week. Having a flexible asset base which you can draw from without being penalised is important. Exit penalties should be avoided if they prevent you

from receiving the income you need.

While there is no certain route to preparing for a longer future, there is certainly a longer future to prepare for.

Disclaimer: This article contains the personal views of the author and does not constitute advice.

This article was contributed by Ashley Jones, Chair of the Financial and FinTech Committee.

The Financial and FinTech committee covers some of Singapore's leading financial market sectors where a high level of major and niche British institutions and financial firms occupy strong and influential market positions. Its aim is to significantly expand Chamber membership at both the corporate and individual level by raising the standard of and focusing the networking and promotional opportunities within both the financial services and thriving FinTech sector, and to the rest of the committees and membership.

For more information visit www.britcham.org.sg/committees/financial-and-fintech

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