Orient Issue 88

THE OFFICIAL MAGAZINE OF THE BRITISH CHAMBER OF COMMERCE SINGAPORE BUILDING NETWORKS | CONNECTING BUSINESSES | CREATING OPPORTUNITIES

IN THIS ISSUE A Day in the Life of our Members: Tavy Cussinel, Managing Director, Redhill In Focus Interview: Matthew Brown, Headmaster, Epsom College Malaysia Online Safety & Technology - Keeping our Children Safe Is your Loyalty Strategy Future Fit? The Power of Personalisation Understanding the South East Asian Consumer Making Tax Digital – Welcome to the Future of Tax

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ISSUE 88 | AUGUST 2022

CONTENTS

Damion Scarcella (Frankie Valli)

Lorne Taylor (Tommy DeVito)

Stuart Innes (Bob Gaudio)

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President's Message

09

Executive Director's Message

14

News

19

New Members

25

Recent In-person events

27

Upcoming Events & Webinars

28

Latest from the BritCham Singapore Podcast

30

A Day in the Life of our Members: Tavy Cussinel, Managing Director, Redhill

34

In Focus Interview: Matthew Brown, Headmaster, Epsom College Malaysia

38

Online Safety & Technology - Keeping our Children Safe

40

Is your Loyalty Strategy Future Fit? The Power of Personalisation

42

Understanding the South East Asian Consumer

46

Making Tax Digital - Welcome to the Future of Tax

48

Member Discounts

50

Chamber Demographics

Tristan Ward (Nick Massi)

UNDER THE PATRONAGE OF THE BRITISH HIGH COMMISSIONER, H.E. KARA OWEN CMG LOVE MUSICALS? We invite you, your friends and associates to enjoy a GALA evening with "Big Girls Don't Cry" from London's West End on FRIDAY 21ST OCTOBER 2022, in aid of the #Engage Initiative managed by The Rice Company Ltd. with IPC status. The evening will open with a welcome Queen's Platinum Jubilee cocktail reception followed by a sit-down dinner and the show, BIG GIRLS DON'T CRY. Your participation will help disadvantaged children and uplift our youth community.

BOOK NOW!

Scan the QR Code

Email: info@britishtheatreplayhouse.com | Tel: +65 6449 4855 | WWW.BRITISHTHEATREPLAYHOUSE.COM Presented by:

Supported by:

Official Hotel Partner:

Official Champagne:

Official Luxury Media:

Editor: Lucy Haydon lucy@britcham.org.sg

ISSN (digital edition): 2810-904X

Co-Editor: Khairil Faisal khairil@britcham.org.sg

Advertising and contribution enquiries to be directed to the Editor

137 Telok Ayer Street, #06-03, Singapore 068602 Tel: +65 6222-3552 Email: info@britcham.org.sg www.britcham.org.sg

The Orient is a bi-monthly magazine published by the British Chamber of Commerce, Singapore. © All rights reserved.

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.

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OUR PARTNERS

INTEGRITY IS THE NORM AT STAMFORD We demonstrate it by being transparent, honest and respectful, while nurturing a culture of genuine and deeper learning. Our students are taught to take responsibility for their own learning, to ask questions and to do the right thing even when it’s hard. We are Stamford – A unique community where our students find their greatness and thrive.

PLATINUM PARTNER

D ET U R

P O N S M UN

DO

OUR BOARD

COMMITTEE CHAIRPERSONS

MANAGEMENT TEAM

PRESIDENT:

BUILT ENVIRONMENT: Alisdair Gillies (Chairperson), Andy Marr (Co-Chair)

Executive Director: David Kelly

DIVERSITY & INCLUSION: Andrew Ashman (Chairperson), Anna Liddell (Co-Chair)

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

Damian Adams, Watson Farley & Williams

VICE-PRESIDENT:

Haslam Preeston, DFI Consulting

SECRETARY:

Nick Magnus, Dulwich College (Singapore)

TREASURER:

Christina Mason, PricewaterhouseCoopers LLP

BOARD MEMBERS:

Angel Cheung-Horenfeldt, Standard Chartered Bank

Lorena Paglia, Microsoft Michael Yap, Coventry University Penny Murphy, ERM Environmental Resources Management Simon Bennet, Swire Shipping Pte Ltd Simon Middlebrough, Singapore Aero Engine Services Pte Ltd Suzy Goulding, MullenLowe salt Singapore Pte Ltd Steve Firstbrook, Department for International Trade Lucy Watkins, British Council Andy Marr, 8Build Pte Ltd Andrew Clark, Asiaworks

ENERGY & UTILITIES: Tim Rockell (Chairperson), Allard Nooy (Co-Chair), Mark Florance (Co-Chair)

Head of Events: Ashni Degamia

HEALTHCARE & LIFE SCIENCES: Sigal Atzmon (Chairperson)

Events Executive: Caitrin Moh

ICT: Derek Murray (Chairperson), Penny Murphy (Co-Chair), James Price (Co-Chair)

Marketing & Communications Executive: Khairil Faisal

LEADERSHIP, TALENT & PROFESSIONAL DEVELOPMENT: Don Rapley (Chairperson), Janelle Gavin (Co-Chair) MARKETING & COMMUNICATIONS: Suzy Goulding (Chairperson), Andrew Clark (Co-Chair) STARTUP, ENTREPRENEUR & SMALL BUSINESS: Vanessa Errington (Chairperson), James Price (Co-Chair) SUSTAINABILITY: Lorena Paglia (Chairperson), Mark Florance (Co-Chair) Oriana Brine (Co-Chair)

WOMEN IN BUSINESS: Bee Ling Lua (Chairperson), Liana Attard (Co-Chair)

Stamford American International School CPE Registration Number: 200823594D Period of registration: August 9, 2022 to August 8, 2026

Head Membership: Clare Hakes

FINANCIAL & FINTECH: Mike Rourke (Co-Chair),

TRANSPORT, LOGISTICS & SUPPLY CHAIN: Simon Middlebrough (Chairperson), Nicholas Potter (Co-Chair)

21/2/2020 – 20/2/2024

SILVER PARTNERS

BRONZE PARTNERS

James Nesbitt, Standard Chartered Bank

Scan here to experience the magic of Stamford American International School

GOLD PARTNERS

Finance Manager: Radhika Chauhan Office Manager: Anna C Garciso

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Message from the President Dear Members,

Discover the Difference

DE T U

I hope that you and your families were able to enjoy the summer break, to create memories and to reconnect with family and friends, wherever you chose to be. I was pleased to take our first family trip to the UK in almost 3 years, now that various COVID restrictions and quarantine requirements have been eased.

DO R P UN ONS M

PERFORMING ARTS

Pursuit of the arts is a staple of Dulwich life and we devote considerable resources to create opportunities for our students to experience all areas of the arts.

Students have abundant opportunities to experiment and perform, with drama and dance taught as part of the curriculum in Junior School and offered at IGCSE and IB.

Each year students participate in a range of drama and dance festivals across Asia, working with professional actors, directors, writers, dancers and choreographers.

Students benefit from collaborative relationships and partnerships with top educational and artistic institutions throughout the world such as The Royal Shakespeare Company.

Damian Adams President, British Chamber of Commerce Singapore Damian@britcham.org.sg

Since my last message, I have been working with the Chamber team to promote the interests of the British business community across many industry and government sessions. Notable examples include highly engaging sessions just before the summer break with each of Deputy Prime Minister, Lawrence Wong and Managing Director of the EDB, Jacqueline Poh. Since returning from summer travels, I have also had the privilege and opportunity to represent members' interests at a private engagement with Minister for Manpower and Second Minister for Trade and Industry, Tan See Leng, with whom the Chamber has enjoyed close dialogue over the past few months, as well as a closed-door dialogue on geopolitics with Senior Minister and Coordinating Minister for National Security, Teo Chee Hean. Suffice to say that engagement with Government has never been as active or strong, and the Chamber continues to champion our business community at a senior level. Your feedback remains crucial to our truly representing the voice and sentiment of our members, so please continue to respond and send your feedback to the pulse-check surveys, which really do help us to advocate on your behalf.

The Board of the Chamber met recently, to review progress and performance of the Chamber to-date but more importantly, to give support and approval to a number of exciting developments and initiatives to look out for over the coming months. One key area on which we are focusing with chairs of the various Business Committees is how we can better disseminate throughout the membership the wealth of information that is shared through these groups.

Best School for the Arts

WhichSchoolAdvisor (Singapore) Best Schools Award 2022

As we have welcomed the further easing of COVID restrictions, I am really looking forward to myself and other members of the Board meeting as many of you as possible in the coming weeks, in person! We have an exciting series of events lined up for the remainder of 2022, including a return to our iconic F1 Networking in advance of the race weekend, the 23rd edition of our Annual Business Awards, a members-only networking night (this year replacing the traditional August Back-to-Work Networking) and, in early December, the Great British Ball.

I look forward to seeing you soon.

singapore.dulwich.org admissions.singapore@dulwich.org (65) 6890 1003

Kind regards,

LIVE

Damian

Dulwich College (Singapore) CPE Registration Number: 201027137D. Period of Registration: 09 January 2020 to 08 January 2024. School Location: 71 Bukit Batok West Avenue 8, Singapore, 658966

MESSAGE FROM THE PRESIDENT

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Message from the Executive Director Dear Members, A very warm welcome-back to all of you who managed to travel over the summer period and have come back to Singapore. It really is pleasing to see travel starting to get back to a nearnormal pace.

The last few months have been busy for the Chamber as you would expect, and I am pleased to announce that, on average, we have been welcoming two new member companies to our network every week since May. We will be reaching out to members to come and meet with myself and the team in the coming months.

We are approaching a really exciting time of the year with our Annual Business Awards, the longest running awards programme delivered by an international Chamber, and plenty of major events in the calendar.

David Kelly Executive Director, British Chamber of Commerce Singapore david@britcham.org.sg

This month, the Chamber welcomed Ashni Degamia as our Head of Events. Ashni brings with her a wealth of experience to drive the future of our events and we are delighted to welcome her to the team.

Finally, I would like to say a huge ‘thank you’ to Helen Starr (Head of Events) and Melissa Ng (Membership Executive) who have left the Chamber team after over four and three years respectively.

Both leave us with our very best wishes for their next stages of their careers, having made an enormous impact, and we look forward to seeing them again at future events.

I look forward to seeing you soon, My best,

MESSAGE FROM THE EXECUTIVE DIRECTOR

STERLING MEMBERS

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D ET U R

P O N S M UN

DO

STERLING MEMBERS

GET IN TOUCH

GET IN TOUCH

13

137 Telok Ayer Street, #06-03, Singapore 068602 Tel: +65 6222-3552

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NEWS - AT THE CHAMBER

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BritCham hosts Deputy Prime Minister and Minister for Finance Lawrence Wong in a wide-ranging dialogue

In June, our members met with Deputy Prime Minister and Minister for Finance Lawrence Wong in an exceptional closed-door dialogue. During the discussion moderated by our President Damian Adams, the DPM shared his perspectives on the economy, Singapore’s Covid-19 strategy, the manpower needs of industry, Singapore’s strength as a regional hub, support for SMEs, sustainability and digitalisation.

This event provided an unparalleled opportunity for members to meet the newly appointed Deputy Prime Minister. We thank the DPM for his time and candour and look forward to future opportunities to engage with the British business community. Thank you also to our guests for engaging the DPM with your questions and to our event partner St. James's Place – Asia, represented by Joel Carpenter.

Pictured below is the DPM in conversation with Damian Adams, and following the discussion on stage with Her Excellency Kara Owen, British Chamber Executive Director David Kelly and President Damian Adams, our Event Partner represented by Joel Carpenter, and members of the Board Lorena Paglia, Andy Marr, Haslam Preeston, Michael Buchanan and Suzy Goulding.

(Deputy Prime Minister and Minister for Finance Lawrence Wong with Britcham Board Members)

(Deputy Prime Minister and Minister for Finance Lawrence Wong with Her Excellency, Kara Owen)

NEWS - AT THE CHAMBER

NEWS - UK NEWS

17

Showcasing the opportunities in the tech sector at London Tech Week

In June, the UK marked the UK-Singapore Digital Economy Agreement coming into force as high-tech companies from around the world gathered at London Tech Week, with the largest ever delegation from the fast-growing Asia Pacific region in attendance.

The UK tech sector was valued this year at $1trillion (£764bn).

According to new research from Tech Nation, the UK is fourth in the world for tech investment at £32.6bn, having achieved a record year in 2021. Tech plays a significant role as a driver of jobs and economic growth up and down the country. Last year, tech vacancies made up 12% of all available jobs in the UK, with just over 50% of these jobs available outside of London and the South East.

Two of our business committee chairs (and one former chair) participated in a packed panel session at London Tech Week at the Queen Elizabeth II Conference Centre. Energy & Utilities Business Committee Chair, and Managing Director of Energy Strat Asia Pte Ltd, Tim Rockell, was invited by LTW sponsor, the Singapore Economic Development Board (EDB), to run a session on the opening day of the event addressing the developments of technology in infrastructure.

London Tech Week saw an amazing gathering of 20,000 international leaders in technology, with a significant focus on Southeast Asia and opportunities for existing and new UK businesses in Singapore, and vice versa. In a year that UK and Singapore put in place the Digital Economy Agreement, there is unsurpassed government support and focus on enabling businesses from both nations to connect and achieve their goals. The British Chamber is a key enabler in providing connections and sharing knowledge to advance capabilities for all member organisations. Contact our Energy and ICT committee chairs for more details.

The panel discussed opportunities in Asia for smart systems, including energy for urban planning, mobility and built environment, the R&D to commercialisation journey for infrastructure tech start-ups, and how project developers can balance leveraging new technologies and ‘playing it safe’ with traditional ways of doing business.

Eight Wealth International Announces Appointment of Head of Tax and Estate Planning

Eight International Tax & Legacy Experts has announced the appointment of Kelly Greig as Head of Tax and Estate Planning. This follows Eight Wealth International’s recent appointment of Simon Lints as a Strategic Adviser in May 2022.

Panellists (L-R): • Derek Murray, Head of Digital at technical consultancy Mott MacDonald and Chair of the ICT Business Committee • Prof Phil Blythe of Newcastle University, Professor of Intelligent Transport Systems. Former Chief Scientific Adviser, Department for Transport • Dr Amy Hochadel, Director of Global Business at Connected Places Catapult • Mark Gainsborough, former EVP New Energies, Shell and Chairman Low Carbon Advisors, former Chair, BritCham Singapore, Energy & Utilities Business Committee • Dennis Poulsen, Chief Growth Officer, and Founder, Valuer.ai • Tim Rockell, Managing Director, Energy Strat Asia Pte Ltd and Chair of the Energy & Utilities Business Committee

Having close to 15 years of experience in tax and estate planning, Greig joins EWI to lead the tax team in providing tailored advice to affluent clients in the region as well as offering highly personalised service for high net worth clients living and working overseas.

Based in Singapore, she will focus on growing the firm’s tax and estate planning offering in Asia, given the region’s increasing need for expert tax advice in succession planning and wealth transfer.

Prior to her current role, Greig was responsible for leading the Later Life proposition at Irwin Mitchell. Greig was most recently a Partner at Paris Smith LLP, where she led the Tax and Estate Planning team and provided expert tax support to the family and commercial property teams family in the areas of Capital Gains tax, SDLT, and restructuring and succession planning of businesses.

Giles Henman, Head of Eight Wealth International, said: “Asia continues to be of strategic importance to EWI’s growth strategy and our recent appointments in the team including Kelly highlight our long-term commitment to meeting the rising needs of high net worth clients in the region. With Kelly’s significant industry knowledge and proven leadership, she is wellplaced to drive our firm’s tax and planning segment as we look to expand our presence in the market.”

Kelly Greig, Head of Tax and Estate Planning, Eight International Tax & Legacy Experts, said: “It’s my pleasure to have joined the EWI team in Singapore. As Asia Pacific continues to be one of the fastest growing regions for wealth, the ability to deliver high quality and customised financial advice to clients particularly in the area of tax and estate planning is more important than ever. I am looking forward to working closely with the rest of the team in bringing peace of mind to our customers in the region.”

Developing Asia will need to invest $1.7 trillion per year in infrastructure until 2030 to maintain its growth momentum, tackle poverty, and respond to climate change. Tech will play a major role in determining how quickly and sustainably, nations and businesses can bridge infrastructure gaps and power green economies.

Topics that were explored on the panel included an examination of the latest innovation in infrastructure including smart systems for urban planning, mobility, and the built environment. The panel examined how project developers could balance accessing new technologies with ‘playing it safe’ by sticking to traditional ways of project development. The discussion also focused on innovation in finance in the Asian region, particularly for early-stage project development and enabling new technology to get established as well as the R&D-to-Commercialisation journey and the opportunities in ASEAN as the region reopens. The session can be found on SG Innovate’s YouTube channel.

NEWS - MEMBER NEWS

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STERLING MEMBER TEMASEK Temasek is an investment company headquartered in Singapore, with a net portfolio value of S$403 billion as at 31 March 2022.

Temasek’s Purpose “So Every Generation Prospers” guides it to make a difference for today’s and future generations. The Temasek Charter defines its three roles as an Investor, Institution and Steward, and shapes its ethos to do well, do right and do good.

Visit https://www.temasek.com.sg/en/index for more.

Representative Member: Michael Buchanan

CORPORATE PLUS MEMBER DFI RETAIL GROUP DFI Retail Group (the ‘Group’) is a leading pan-Asian retailer. At 31st December 2021, the Group and its associates and joint ventures operated over 10,200 outlets and employed some 230,000 people. The Group had total annual sales in 2021 exceeding US$27 billion.

The Group (including associates and joint ventures) operates under a number of well-known brands across food, health and beauty, home furnishings, restaurants and other retailing.

Visit https://www.dairyfarmgroup.com/en-US/ for more.

Representative Member: Haslam Preeston

CORPORATE MEMBERS ABRDN

We are a global investment company that helps clients and customers plan, save and invest for their future.

Our business is structured around three vectors, focused on the changing needs of our clients: Investment, Adviser and Personal.

Visit https://www.abrdn.com/corporate for more.

Representative Member: Sarah Anderson

APSCO The Association of Professional Staffing Companies is the International trade body for the professional recruitment sector and was formed to represent and support recruitment firms engaged in the acquisition of professional talent on behalf of their clients.

Visit https://www.apsco.org/ for more.

Representative Member: Bazgha Sultana

WELCOMING NEW MEMBERS

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WELCOMING NEW MEMBERS

WELCOMING NEW MEMBERS

FERN SOFTWARE PTE LTD CIPD ASIA We’re the CIPD — the professional body for HR and people development. We are the voice of a worldwide community of 160,000 members committed to championing better work and working lives. We’ve been setting the benchmark for excellence in people and organisation development since 1913, and through our expertise and research we provide a valuable point of view on the rapidly changing world of work. And for our members we’re the career partner of choice, setting professional standards and providing the know-how to drive the HR and L&D professions forward.

Fern is a global leader in advanced digital services for credit unions and other financial institutions and SME lenders. Since 1979, we have enabled clients in more than 45 countries to make their digital transformation a reality across Europe, Middle East, and Africa!

Fern brings its unique expertise to our customers and helps them plan their digital journal in an orderly manner. Our products include core banking, mobile and field operations, and internet banking. Fern’s latest products include Baytree core banking and Quantum AI - an end-to-end integrated Loan Decision Engine, both developed in Salesforce.

Visit https://www.cipd.asia for more.

Visit https://www.fernsoftware.com/ for more.

Representative Member: Carlyn Lee

Representative Member: John Mcgucken

CREATIVE TECHNOLOGY (ASIA PACIFIC) CO LTD

GREAT SOUTH GATE

Creative Technology (CT) is one of the world’s leading suppliers of specialist audio visual equipment to the sports, corporate, exhibition and entertainment industries.

Their bespoke events staging services bring together advice, support and equipment of the highest quality, providing everything from large screen displays to content delivery systems. With offices in Europe, USA, Middle East and Asia Pacific, CT has established itself as a market leader that utilizes its strong relationships between its international offices. Founded in the UK in 1986, Creative Technology is part of the NEP Group, the leading technology partner for content creators around the globe.

Founded in 2018 and headquartered in Singapore, Great South Gate Asset Management brings 120+ years of experience and expertise to digital asset investing from leading global institutions spanning quantitative analysis, investing, trading, operations, legal and compliance.

Visit https://gsgasset.com/ for more.

Representative Member: Mike Rourke

Visit https://www.ct-group.com/apac/ for more.

Representative Member: Christopher Burke

EIGHT INTERNATIONAL TAX & LEGACY EXPERTS At Eight International Tax & Legacy Experts, you can rest assured that you are working with a dedicated team committed to putting your needs at the forefront of all decisions.

Our specialist experts offer advice on an expansive spectrum of legal services to individuals and business owners in Asia and the UK. Our approach is to handle the most complex and involved cases, making them as straightforward as possible for you. Kelly Greig, an expert in the field, is the face behind this new venture and works holistically with her clients and their advisers to create long-term succession plans that meet their needs while securing their family's future.

Visit https://eightinttaxandlegacy.asia/ for more.

KBA TRAINING CENTRE PTE LTD KBA’s training division provides professional quality training in the field of Health and Safety Management, inland and inshore commercial diving, diver first aid and Diver Medic Technician, IRATA Rope Access levels 1, 2 and 3, as accredited by National agencies such as Ministry of Manpower Singapore, ISO 29993:2017 Standard and International Health and Safety bodies (NEBOSH, IOSH, IMCA, IRATA). It also delivers the full range of IMCA approved divingrelated courses and is the largest IMCA approved training provider with seven venues approved globally (Singapore, Malaysia, India, UAE, South Africa, America and UK).

Visit https://www.kbatraining.org/ for more.

Representative Member: Nurul Asskehin

Representative Member: Kelly Greig

FEATURESPACE

MONETAGO

FeaturespaceTM is the world leader in Enterprise Financial Crime prevention for fraud and money laundering.

MonetaGo provides the first-ever global solution to duplicate financing fraud in trade finance, and is the world’s foremost provider of such technology to prevent both domestic and cross-border duplicate financing.

Featurespace’s ARICTM Risk Hub for enterprise fraud and financial crime monitors real-time customer data, using proprietary machine learning inventions, Adaptive Behavioral Analytics and Automated Deep Behavioral Networks. ARIC Risk Hub is relied on by more than 70 major global financial institutions today, including HSBC, TSYS, FIS Worldpay, NatWest Group (formally Royal Bank of Scotland), Danske Bank, and Marqeta.

Visit https://www.featurespace.com/ for more.

Representative Member: James MacDonald Turner

By reducing fraud in trade finance, MonetaGo’s business activities align with worldwide political and regulatory mandates that empower institutions to sustain supply chains and extend their books of business into new markets and to underserved sectors, all while maintaining privacy and enabling critical real-time decision making.

Visit https://www.monetago.com/ for more.

Representative Member: Bazgha Sultana

WELCOMING NEW MEMBERS

WELCOMING NEW MEMBERS

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CORPORATE SME MEMBERS PREMIUM AUTOMOBILE PTE LTD Premium Automobiles Pte Ltd has been the exclusive and official Audi Partner in Singapore since 1999. At Audi, our portfolio includes new and used car sales, parts and accessories sales, as well as service and maintenance. For more information on new cars, visit audisale.sg. Since 2018, we have expanded our scope and introduced our premium mobility service with Audi on demand, allowing easy access to the Audi brand and car usage from just 4 hours.

Visit audiondemand.sg for more.

Representative Member: Paul McMenamin

ACUITY MARKETING & COMMUNICATION PTE LTD Acuity focuses on two areas of Marketing & Communication. The first is brand strategy and positioning; what is the idea or “truth” that defines a company’s distinction and sets the framework for all aspects of identity and messaging.

Expertise includes digital and performance marketing strategy, content development, employee engagement, and live experiential communication. The second area is transformational Communication and Presentation Coaching for leaders, executives and teams, alongside agency pitch and keynote speaker support.

Representative Member: Stephen Copestake

SANTA FE RELOCATION SERVICES (S) PTE LTD

ENERGY STRAT ASIA PTE. LTD SINGAPORE

Santa Fe Relocation is a Global Mobility company specialising in managing and delivering high-quality relocation services worldwide. Our core competence is providing services that help corporations and their employees as well as individuals and their families to relocate and settle in new places. We cover the entire relocation journey, from moving, destination services, immigration, commercial projects through to full assignment management solutions. These services are delivered to a consistently high standard, locally and globally, and managed through our own operations around the world.

Energy Strat Asia was established in 2019 and is based in Singapore. Our focus is innovation, providing practical and commercial insights on the energy industry.

We consult for major companies and assist overseas- and locally-established companies in identifying new markets and we introduce their services. Our clients are innovative energy, infrastructure, transport and mobility services companies.

Visit santaferelo.com for more.

Visit www.energystratasia.com for more.

Representative Member: Tim Rockell

Representative Member: Adam Sloan

WIREX PTE LTD

FIFTY-FIVE DATA SINGAPORE PTE LTD

Wirex is a worldwide digital payment platform and regulated institution, that has forged new rules in the digital payments space. In 2015, the firm developed the world’s first contactless payment card that gives users the ability to seamlessly spend crypto and traditional currencies in real life.

As a part of the Brandtech group (former You & Mr Jones Group), fifty-five is a data company that helps brands collect, analyze and activate their data across paid, earned and owned channels to increase their marketing ROI and improve customer acquisition and retention.

Wirex was created in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev to make the digital economy accessible to everyone.

Headquartered in Paris with offices in London, Hong Kong, New York, Singapore, Shanghai, Geneva, Shenzhen and Taipei, the data company was named by Deloitte as one of the fastest-growing tech firms in Europe, owing to its unique approach that blends consulting, operational and technology expertise.

Visit https://wirexapp.com/en-sg for more.

Representative Member: Svyatoslav Garal

Visit https://www.fifty-five.com/SG/ for more.

Representative Member: Ben Poole

YOUGOV

GREAT LEARNING

From the very beginning, we have been driven by a simple idea: The more people are able to participate in the decisions made by the institutions that serve them, the better those decisions will be.

Great Learning, a part of the BYJU'S group, the world’s largest EdTech company, is a leading global learning company for professionals and higher education. It offers comprehensive, industry-relevant programs across various cutting-edge Technology, Data, and Business domains. Great Learning's programs are developed in collaboration with the world's foremost academic institutions such as Stanford University, MIT, The University of Texas at Austin, National University Singapore, IIT Madras, IIT Bombay, IIT Roorkee, IIIT-Delhi, Shiv Nadar University, and Great Lakes Institute of Management.

We publish a number of syndicated reports, such as the annual Global Survey of Wealth & Affluence, which provide comprehensive market intelligence on a range of industry sectors. Our custom research specialists also conduct a full spectrum of quantitative and qualitative research tailored to meet our clients’ specific needs.

Visit https://sg.yougov.com/en-sg/?stay for more.

Representative Member: Ervin Ha

Visit https://www.mygreatlearning.com/ for more.

Representative Member: Simon Young

WELCOMING NEW MEMBERS

MEMBERSHIP OF THE BRITISH CHAMBER OF COMMERCE SINGAPORE JOLT DIGITAL Asian-born Jolt Digital was created because of the increasing need to change up the media agency offer.

We have been connecting brands to consumers for the past 4 years for small and big clients such as GSK, Nestle, McCormick, ESSEC Business School, Bahlsen, and many others.

Visit https://jolt-digital.com/ for more.

The Chamber offers membership types to suit companies at all stages of your business growth journey.

For those looking to investigate the market opportunities and retain connections with the British business community in Singapore while based overseas, we offer an Overseas Corporate membership and additional support options from our Trade Services team.

Small businesses benefit from our Corporate SME membership option, as you look to build brand awareness and a network of connections.

Representative Member: Seb Lepez

Larger companies may opt for a Corporate, Corporate Plus or Sterling membership type depending on the level of engagement and number of employees you intend to embed within the Chamber. Sterling members also receive exclusive benefits and brand awareness not available to other membership types.

LOGCHAIN

We'd love to hear your business story, your goals and your plans for growth, and we're certain we can help to play a part.

Reach out to us via the enquiry form on our website at www.britcham.org.sg/how-can-the-chamber-help-me.

LogChain is transforming logistics for anyone who makes, moves, or consumes goods. LogChain is a software layer that connects small and large stakeholders, office and site-based staff, so that trusted supply chain data is shared in real time. This reduces the cost of logistics through reducing admin, making logistics happen faster because delays are reduced, and makes the business better because significant operations can be automated.

This improves efficiency and resilience and offers new levels of transparency.

Ask us about our powerful digital customs clearance technology!

Visit https://thelogchain.com/ for more.

Representative Member: Andrew McKeown

MING LABS

MING Labs is a digital innovation and transformation company with offices in Berlin, Munich, New York, Shanghai, Suzhou and Singapore. With over 80 digital experts globally, we build digital products that delight and digital businesses that deliver.

Across strategy, design, development, launch and support - we work end to end with our partners.

We are the first choice for entrepreneurs and intrapreneurs looking to move faster, iterate sooner and create Magic Moments with the products and businesses they build.Our clients include digital innovation and transformation units from some of the most reputable brands globally, including: BASF, BMW, BOSCH, Lufthansa, Mann+Hummel, MunichRe, Siemens, Schneider Electric, UTC and many more.

Recent In-person events 06 Jul 2022 Leaders in Business Lunch with Jacqueline Poh, Managing Director, EDB On 6th July, we welcomed the brilliant Jacqueline Poh, Managing Director at the Singapore Economic Development Board (EDB) for the Leaders in Business Lunch, expertly moderated by Damian Adams An incredible walk through topics included Web3, Singapore as a digital asset hub, the digital economy and the Digital Economy Agreement, sustainability, corporate venturing, the circular economy, the future of manufacturing, the Singapore Plus and South East Asia Manufacturing Alliance models, data centres, and, innovation.

Businesses in Singapore are in a good position to ride the growth momentum in Asia, and there are many collaboration opportunities between companies here and in the UK. The UK-SG digital economy agreement will also further boost digital trade and data flows between the two countries.

Thank you to our Leaders in Business Lunch sponsors St. James's Place – Asia and Joel Carpenter for joining us.

Visit https://minglabs.com/ for more.

Representative Member: Jason Rungassamy

STUDIO TUTUBI An interdisciplinary design studio specialised in Architecture, Interior design and Master planning. Established and based in Singapore, the studio is founded upon experiences spanning two decades throughout Asia and Europe. The majority of this based in Singapore having worked with some of the most notable and recognised practices in the region on a wide variety of Award winning local and overseas projects.

A portfolio of prior works ranging in scale and discipline, often a collaborative approach of disciplines and application that have broaden experiences throughout all stages of the design process and a project lifespan. Ranging from initial feasibility studies and master planning, design concepts to construction management and a project’s completion.

Representative Member: Duncan Fletcher Payne

RECENT IN-PERSON EVENTS

RECENT IN-PERSON EVENTS

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Recent In-person events 13 Jul 2022 Football Q&A with Neil "Razor" Ruddock & David James At The British Club Singapore on 13 July 2022 – together with Damian Bush, MD of Singapore Sports Hub and David Kelly, ED at British Chamber of Commerce Singapore (BritCham) – football Legends David James (Jameo) and Neil "Razor" Ruddock traded stories, laughter and a good time with guests as they shared about their Premier League days at Liverpool, West Ham, Crystal Palace, Aston Villa.

Jameo and Razor were in town to catch the Standard Chartered Singapore Trophy 2022, the Liverpool FC and Crystal Palace FC pre-season friendly at the National Stadium.

Thanks to all those who joined us, and we hope it was truly a night to remember with these football legends.

Sponsoring Partner:

UPCOMING EVENTS & WEBINARS

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Upcoming Events & Webinars Bookmark our Upcoming Events page at www.britcham.org.sg/events to register for the latest events.

DATE

NAME

TIME

06 Sep 2022

Britcham Presents: Healthy ageing in a digital world

4:00 PM 5:30 PM

22 Sep 2022

The importance of meaningful social mobility in an era of change

4:00 PM 06:00 PM

29 Sep 2022

Celebrating the Singapore F1 Grand Prix

4:00 PM 6:30 PM

13 Oct 2022

7:00 PM 11:00 PM

02 Dec 2022

7:00 PM 2:00 AM

THEME

TITLE EVENT PARTNERS

LATEST FROM THE BRITCHAM SINGAPORE PODCAST

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A DAY IN THE LIFE OF OUR MEMBERS

A Day in the Life of our Members: Tavy Cussinel, Managing Director, Redhill In this new feature we find out what our members' roles typically entail, taking you through a day in their diary. For this issue, Tavy Cussinel kept a diary for the Orient Magazine during her recent trip back to London.

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Redhill is recognised as one of Singapore’s Fastest Growing Companies (2022) by Statista and The Straits Times, Financial Times’ top 500 Asia-Pacific HighGrowth Companies (2021) and the first public relations agency to be recognised in the Enterprise 50 Awards (2020).

31

IN FOCUS INTERVIEW: MATTHEW BROWN, HEADMASTER, EPSOM COLLEGE, MALAYSIA

In Focus Interview: Matthew Brown, Headmaster, Epsom College Malaysia In our latest In Focus interview, Editor Lucy Haydon spoke with Matthew on inspiring the next generation of business leaders, the importance of creating a nurturing environment in a boarding school, and preparing students for future career success by aiming high and being prepared.

So, let's start with the students. How do you inspire the next generation of leaders?

We work hard to be positive influences in our students’ lives, nurturing relationships that become the cornerstone of a student’s happiness and fulfillment. At Epsom, everything that we do is focused on our three core priorities to Nurture, Educate and Inspire. As a boarding school, we are a close-knit community - teachers and pastoral staff live on campus and eat with our students on a daily basis, fostering these strong ties very early on. Part and parcel of our jobs as educators is to ensure that every child who walks through our doors feels seen, noticed and heard and is not just another cog in a well-oiled machine.

At our teachers’ meetings at the start of the school year, I always emphasize the importance of positivity and authenticity and encourage our teachers to share their personal experiences with students. Why do they love teaching their respective subjects?

Why did they choose to teach Physics, Biology, Geography or whatever it may be?

Our students are naturally inquisitive, curious and intelligent and this exchange helps to foster closer ties that ultimately inspire our students to want to learn more.

When a safe and supportive environment is created, brilliant things can happen. For example, at the end of 2021, a school Prefect asked if they could organise a ‘Spirit Week’, to help bring some cheer to the community after a challenging COVID-stricken year. They provided a variety of ideas including a fancy dress Career Day and a Backpack Free day where students had to devise novel ways of carrying their books around. We worked together to bring this plan to life and in the process made a lot of people smile during the week. This is just one example of our students’ self-driven initiatives that I am very proud of. We also encourage our students to create and develop academic societies, which they run themselves with our support. Most recently, our students have set up the Comfort Society where they meet and talk about the stresses

of being international students, living away from home, exam pressures or any issues they may be currently facing. It is an excellent forum for the students and teachers to come together to share ideas and strategies in an informal, safe and nurturing setting.

You can't force students to learn, and you cannot fake passion. Our role as teachers is to do all we can to create the environment, the values and the ethos that enables them to flourish and grow into independent and creative thinkers, making the right decisions along the way. As Headmaster, I ensure that we have the best, qualified teachers who are genuinely passionate about their subjects and have the innate desire to help students to reach their full potential.

How does the Epsom College student experience in Malaysia integrate with that in the UK? Epsom College in Malaysia was founded by a former Epsom College UK alumnus - AirAsia CEO Tony Fernandes. His boarding school experience made a profound impact on his life and he wanted to provide the same opportunity to students in Asia. It was important to him that a student’s boarding school experience at Epsom College in Malaysia closely mirrored that of a student at our sister school, whilst influenced by our Asian context. Our curriculum is based on close to 170 years of academic excellence as at Epsom College in the UK, which was founded in 1855 with Royal patronage granted by Her Majesty Queen Victoria and today has Her Majesty Queen Elizabeth II as

IN FOCUS INTERVIEW

31

IN FOCUS INTERVIEW: MATTHEW BROWN, HEADMASTER, EPSOM COLLEGE, MALAYSIA its patron. We have a shared governance model, with key personnel visiting both campuses regularly to ensure that there is internal alignment.

Tell me a little about the Weekday Boarding program for those in Singapore.

The Weekday Boarding Programme at Epsom started in 2021 offering students the

Let's move on to some of your standout moments during your time in education. I'm sure you have some stories to tell.

I feel very fortunate to witness our students evolve during their time at school. There have been many instances where students arrive on their first day understandably nervous, quiet and reserved, then visibly come out of their shells after the first few weeks and grow in confidence.

From hardly being able to hold a conversation, within a few months they may be presenting in an assembly and learning to share jokes to make everyone laugh. These are the moments that make it all worthwhile because we have made them open up and take risks.

As a school, we recognise that academic achievement, first and foremost, is significant.

Our hope, however, is that our students leave Epsom with the self-confidence to walk into any room, or working environment, knowing that they can be themselves and valuably contribute to any conversation or discussion they choose to. This is when we know we have done our most influential work.

Absolutely. Confidence unlocks many doors.

Yes! We can help students to get into some of the world’s best universities but if they do not have the necessary interpersonal skills and the values such as kindness, honesty, humility and care for the environment, their success will be limited.

We recognise that it is more than just academic progress that we are helping them to achieve.

opportunity to benefit from the British boarding school experience - an on-campus community feel, engagement with academic staff in a pastoral setting and a distraction-free academic environment - on weekdays whilst enjoying quality time spent with family over the weekend. For younger children, the week is short enough for them to feel secure knowing that it will not be long until they see their parents (and vice versa), and also short enough to pass quickly with a long list of activities, staff on hand to help with prep and the freedom to live, study and play alongside their friends. Weekday Boarding offers a breath of fresh air for pressured parents who are discovering the benefits of space, time, safety, adventure for their children, knowing that all their children’s needs will be catered for.

majority placed at Russell Group universities.

For the past three consecutive years, we have had successful applications to Cambridge University to study Law and Natural Sciences.

We believe that preparation for university is a continuous process which starts early in Senior School. From Year 7-9, we work on our student’s holistic and developmental skills (eg. confidence, writing and presenting and creative and critical thinking), identifying not only their strengths but also areas for improvement. Our resident Elite University Tutor will organise seminars with top university graduates and lecturers in chosen subject fields to provide students with a more in-depth look into what to expect from full specialisation in a chosen degree path. Given the size of our Sixth Form cohort, students benefit from a bespoke university support programme and an open-door policy for after school application support (including evenings and weekends). For students aplying to Oxbridge, we will match students with Oxbridge alumni mentors who will provide an insider’s perspective on the application process and 1-to-1 sessions for interview preparation

We always encourage our students to be ambitious and to aim high. Last year, several students were invited to interview with Oxford and Cambridge and although some were unsuccessful, every candidate left pleased with their performance and felt like they had given it their best, as a result of their preparation, hard work and dedication. This selfassuredness is something we look to nurture in each and every one of our students.

Next Steps Enrolling in a boarding school can be a big decision for many students and their families. We offer a Taste Of Boarding programme for prospective students to experience life at Epsom for a week and to see if it will be a good fit. Students will actively participate in classroom discussions, experience how subjects are taught at Epsom and live on campus at the boarding houses.

"Our hope, however, is that our students leave Epsom with the self-confidence to walk into any room, or working environment, knowing that they can be themselves and valuably contribute to any conversation or discussion they choose to. This is when we know we have done our most influential work. "

This Programme proved to be very popular with our Malaysian students and given our close proximity to KL International Airport (a 15 minute drive), we are offering the same programme to Singapore families. The Weekday Boarding Programme can be paired with a flight package add-on that provides return air tickets for every weekend throughout the entire academic year. Singapore residents and nationals may also choose to be full boarders, depending on their individual requirements.

Wonderful, thank you. Our last question – typically, which universities do Epsom A Level students go on to receive offers from?

Most of our A-Level students choose to go to the UK to continue their studies, with the vast

IN FOCUS INTERVIEW

COMMITTEE CONTENT: ONLINE SAFETY AND TECHNOLOGY - KEEPING OUR CHILDREN SAFE 38

Online Safety and Technology – Keeping our Children Safe Frank Butler

Managing Director, Bounga Informatics and BritCham ICT Committee member

Our ICT Committee is running a series of activities and events relating to online safety and security in the coming months. We kick things off with a piece to help parents and careers navigate cyberspace and the emerging metaverse (and we still don’t know what it is either!) Please contact our committee if you’ve got questions or items to share relating to this topic, we’d be delighted to hear from you.

Parents, carers and communities have developed great capabilities in helping children develop to stay safe in the physical world, from avoiding road hazards and stranger danger, to “safety proofing” houses. This well intended care is increasingly harder to apply when it comes to our online environment.

It’s perhaps natural that many of us haven’t developed the skills and knowledge about digital matters. The days of a household computer in the corner of the room with parental sentry duty are long gone. Children now have access to endless online creativity using the most technologically advanced gadgets, whether personal devices primarily used for education or phones and tablets used for meeting friends online.

Individual family members can end up inside an endless online world. Look around next time you are in a restaurant and you’ll see how pervasive this has become. As a parent, do you know exactly what your children are accessing?

Are they checking out the latest K-Pop, football scores, are they streaming YouTube influencers, or has there been compromising chat with someone from who knows where?

Don’t forget that the risk of exposure to strangers takes on a far more insidious form online. Kids may see a stranger on the street, where builtin awareness and parental education warns them to steer clear. But that online stranger may appear as a like-minded kid, with similar hobbies and

dislikes, except there is a chance that they may be an adult predator.

You may recall The New Yorker cartoon from the early 1990s which shows a dog typing out a computer message, a cat being the recipient not knowing the sender, and the caption - “on the internet nobody knows you are a dog”.

Photo credit: Peter Steiner

39 The situation is exacerbated by peer pressure, with cases of children sending inappropriate media because others are doing it, or because they are being bullied into doing it.

•

So, what’s the answer? Education and the building of trust is a huge part of ithas a large part to play. Children notmay not be emotionally equipped to make some of the decisions they face every day, and parents should be there as their advisors and guides. It’s a great gesture to buy the latest phone or device and present it to them, but this must come with guidance and advice. In the end, establishing online boundaries, trust between the child and caregiver, and the security of a support system, will pay off.

•

Schools are playing an important role already, where appropriate learning is incorporated with the curriculum for children to be knowledgeable of good online behaviour and alert to the dangers. The Ministry of Education teaches Cyber Wellness from Primary School years onwards, as part of the Character and Citizenship Education (CCE) lessons, with resources available for parents to help support the messaging .

“Of increasing importance within our digital curriculum is the ethical use of technology, accounting for the continued evolution of technology and its growing symbiotic role in society.

We believe in not only increasing awareness of potential ethical issues but also promoting and embedding ethical approaches, behaviours and actions in order to use and interact through technology in a more safe and responsible manner.” Dan Franklin, Deputy Head Educational Technology, Dover Court International School.

Here are some tips to start your journey in online safety: For Children • Agree on and follow the family rules, and those set by the Internet service provider.

• Never post or trade personal pictures.

• Never reveal personal information, such as address, phone number, or school name or location.

•

•

Use only a screen name and don't share passwords (other than with parents).

Never agree to get together in person with anyone met online without parent approval and/or supervision.

Never respond to a threatening email, message, post, or text.

Always tell a parent or other trusted adult about any communication or conversation that was scary or hurtful.

For parents: • Spend time online together to teach your kids appropriate online behaviour.

• For younger users, consider using parental mobile tools offered by Apple (Screen Time) and Google (FamilyLink), depending on the operating system of the device, to block access to any apps, limit time used per day, etc • Keep computers in a common area where you can watch and monitor use, not in individual bedrooms.

• Bookmark kids' favourite sites for easy access.

• Check your credit card and phone bills for unfamiliar account charges or connect the App Store/Google Play Store on their device to your account so that you can limit permissions to download apps/purchase inapp items.

• Find out what online protection is offered by your child's school, after-school centre, friends' homes, or any place where children access a computer without your supervision.

• Take your child seriously if he or she reports an uncomfortable online exchange Online Resources • Cyber Security Agency (Singapore) download materials for different age groups • Help123 – resources on cyber bullying, screen time, gaming, social media, online content, and online privacy • Get Safe Online - Unbiased, factual and easyto-understand online safety info from the UK • Click Action for Children - focused on assisting foster carers and care-experienced teens • IWF – a UK Charity with a mission to stop child sexual abuse online • SafetyTech Innovation Network - for businesses interested in wider online safety and Safety Tech opportunities and solutions • UK market analysis of the SafetyTech sector

IS YOUR LOYALTY STRATEGY FUTURE FIT? THE POWER OF PERSONALISATION

40

Is Your Loyalty Strategy Future Fit? The Power of Personalisation Vice President, Data, Insights and Technology, Asia Pacific, Collinson

This disruption has resulted in a generational shift in consumer behaviour – in turn, reshaping the discipline of loyalty marketing.

Ultimately, understanding online behaviour is more important now than ever.

However, our strategic partner, Salesforce, recently published their latest State of the Connected Customer report, which revealed that 66% of the more than 15,000 global shoppers surveyed expect personalised, frictionless and tailored interactions aligned with their core values. But, only 34% of the same group said they feel organisations treat them as individuals.

It’s clear that a shift in approach is required. However, when Collinson recently conducted research designed to reveal Australia, Hong Kong and Singapore-based organisations’ views on the future of loyalty, the top three responses to the question: “What is your view of the future direction of loyalty programmes?” were as follows: • 20% said “More of the same, at greater scale, customer value and market coverage” • 18% said: “Increased consumer apathy to loyalty programmes” • 17% said: “Increase in consumer concerns around data issues” What is your view of the future direction of loyalty programmes?

In turn, only 3% of respondents selected “Emotional connectivity”.

Brands employing innovative and engaging strategies today – i.e. those who are investing in placing customer loyalty at the heart of their business strategy – will have an advantage over competitors tomorrow. In the age of the consumer, experience is everything; with the Salesforce survey revealing that 85% of business buyers and 79% of consumers feel the experience a company provides is as important as its products and services.

Loyalty is generated through us feeling known and understood, and in turn having perspective acknowledged and our needs proactively served.

Loyalty is generated through us feeling known and understood, which is why hyper-personalisation is the holy grail that leading brands are now aspiring to. An increased focus on the personal preferences of individuals rather than broad segments is enabling brands to deliver enhanced customer experiences that in turn deepen customer loyalty.

It is in turn shocking, but not necessarily surprising (when we take these findings into account), that 54% of loyalty programmes are inactive today. It’s time to shift loyalty gears.

revealed that a fifth of organisations plan to continue doing “More of the same”, while only 3% plan to focus on “Emotional connectivity”, there’s an opportunity for brands to enhance their approach.

A positive customer experience will ultimately increase retention and promote loyalty. But how can brands make this shift?

One size fits one: Loyalty through hyper-personalisation

Daniel Cantorna,

The customer loyalty landscape has changed. Thanks in part to the pandemic, a quick and dramatic shift to online has resulted in consumers expecting far more sophisticated experiences across all digital interactions.

41

Why is this significant? Because true loyalty is achieved when a customer feels emotionally connected to a brand, largely driven by shared values. This is how leading brands enter the realm of life-long loyalty – as they have achieved something that other brands have not: they have connected with their customer on a deeper level, and proven to be a valuable addition to their customers’ lives.

When we once more reflect that respondents to the Salesforce survey feel that only 34% of programmes are personalised; as well as Collinson’s findings, which

The information held by a brand on their customers will in turn be enhanced through collaboration with like-minded brands; with each participating brand helping to build additional relevance, by creating an enriched Single Customer View – as a result, enabling greater awareness of an individual’s personal preferences and interests, and enabling a hyperpersonalised ‘segment-of-one’.

“Leading organisations are thinking beyond broad ‘target audiences’... in order to identify and serve each customer in a personalised and distinctive way” Download our complimentary eBook: “The Power of Personalisation” today to learn more, including the four actions all organisations should take to reach personalisation perfection.

An increased focus on the personal preferences of individuals rather than broad segments is enabling brands to deliver enhanced customer experiences.

Each of us has our own perspective about what constitutes a meaningful experience, and that perspective includes personal attitudes to relevance, convenience and luxury.

With this in mind, hyper-personalisation or the ‘segment-of-one’ is the holy grail that marketers aspire to. The term refers to an organisation’s ability to track and cater to the needs and preferences of each customer, one at a time.

In the loyalty industry, segment-of-one marketing remains a futuristic goal; though innovations taking place in Artificial Intelligence (AI) and advanced analytics are helping reveal the possibilities.

Leading organisations are thinking beyond broad ‘target audiences’ and rigid stereotypical segments or personas. To identify and serve each customer in a distinctive way, they rely on two-way, interactive communication, AI, and the interrogation of sophisticated first-party and zero-party data to build a complete picture of an individual and their personality traits.

Collinson is a global leader in customer benefits and loyalty solutions that win deeper, more valuable customer relationships. For over 30 years, we’ve been chosen by the world’s leading payment networks, 1,400+ banks, 90+ airlines and 20+ hotel groups to craft customer experiences that win competitive edge.

Our loyalty consultancy expertise uniquely combines strategy and award-winning technology to create greater engagement and experiences for our clients’ customers; while our customer benefits solutions include market-leading airport experiences programme, Priority Pass; as well as flight delay, international health and travel risk management solutions.

IS YOUR LOYALTY STRATEGY FUTURE FIT? THE POWER OF PERSONALISATION

UNDERSTANDING THE SOUTHEAST ASIAN CONSUMER 2022

42

Understanding the Southeast Asian consumer in 2022 Sahiba Puri,

Senior Consultant, Euromonitor

The world around us has changed rapidly in the past two years. Resilience and adaptability were tested in 2021, forcing consumers to relinquish control and embrace ambiguity. This year, consumers are taking back the reins and paving a path forward based on their passions and values.

Change was the only constant over the past two years, with the COVID-19 pandemic having a unique impact on consumers' behaviours, attitudes and motivation. Today, even though the effects of the pandemic are abating, evolved behaviours are expected to have a continuing impact. These behavioural changes make it imperative for businesses in the region to understand the drivers and motivation behind consumers' buying decisions and how these can be harnessed to unlock growth potential in Southeast Asia.

Southeast Asia is one of the most significant economic engines in the Asia Pacific, with the region accounting for 9.4% of APAC's economy in 2021.

By 2030, countries such as Indonesia, the Philippines and Vietnam are poised to have an accelerated growth than the

overall APAC region, including China.

causing them, and what this means for businesses.

With Southeast Asia positioned as one of the vital consumption engines in APAC, understanding emerging consumer trends in the region is crucial for businesses looking to tap into a fast-evolving economic and consumption landscape.

Euromonitor International has identified the Top 10 Global Consumer Trends expected to drive global markets in 2022.

We will be exploring how three of these consumer trends: Backup Planners, Climate Changers and Financial Aficionados, manifest in Southeast Asia, alongside the consumer motivation and behaviours

Supply chain disruptions lead to the next best options for Backup Planners From stockpiling in the initial days of the COVID-19 outbreak to ongoing global supply chain issues, product access and

43 availability have come under threat. Lockdowns in China during the first half of 2022 further exacerbated this situation as the manufacturing and freight movement were challenged.

On the other hand, as social occasions and discretionary spending starts to return, consumers are looking to indulge in spending on non-essentials. However, as availability remains challenged, consumers struggle to secure their go-to product. Backup Planners then look for creative ways to procure the items they need.

One such approach is embracing technology and alternative business models, such as subscription services or D2C brands, to secure products/services.

According to Euromonitor's Lifestyle survey, when asked about the motivation behind subscription services, global respondents indicated that convenience was a leading factor. This desire for convenience and the local availability of such services can help businesses meet consumers where they are. Subscription services are also penetrating Southeast Asia, as exhibited by Treatos by Joey and BarksJOY – both Filipino companies offering subscription boxes within the pet care space.

Product availability drives profit, while supply shortage can weaken consumer loyalty. Even as supply chain constraints stabilize over time, evolved shopping habits will dictate how backup planners discover and shop for products. In such a scenario, businesses that can pivot and provide solutions for customers to access products and services are likely to benefit from this consumer cohort.

Climate Changers are increasingly aware of how their choices impact the planet There has been a growing awareness among consumers of their contributions to climate change. This awareness is driving environmental activism and influencing purchasing decisions.

The Climate Changer is looking for products/ services that help them make more sustainable choices while also demanding more transparency and better labelling from brands.

When we look at what consumers across different Southeast Asian markets are doing regarding sustainable choices, we observe that reducing the use of plastic is one of the more popular green activities undertaken.

Source: Euromonitor International/ Voice of the Consumer – Lifestyles Survey, fielded in January and February 2021 Businesses in the region are also responding to these evolving preferences. They are adjusting their portfolios to meet consumer demand by offering more eco-friendly products and services. IKEA, for instance, transformed its Bang Yai store into a circular shop where consumers can sell pre-owned home furnishings, buy second-hand IKEA furniture at a discount and drop off the recyclable waste in exchange for IKEA Family Points. Through this effort, IKEA is encouraging extending the use of materials and products through sharing, reusing, refurbishing and recycling.

An observable development in sustainable packaging initiatives has been the rise of refill stations. From Body Shop in Singapore to IP One Company Ltd in Thailand, brands are introducing refill stations in retail locations as part of their sustainability efforts.

The launch of such initiatives in the region indicates how global and local players are responding to the growing sustainability narrative. As more offerings align with the expectations of Climate Changers, more brands will see their products and services resonate.

Democratized money management for Financial Aficionados The pandemic bought with it a shift in consumers' approach to money management and financial security. An uncertain and unstable economic environment has led Financial Aficionados to take better control over their money. From improving their financial literacy to using apps/services that enable them to become financially savvier, consumers are finding ways to feel more financially empowered.

Businesses are also responding with resources that give consumers more control and

UNDERSTANDING COMMITTEE CONTENT: THE SOUTHEAST ONLINE SAFETY ASIAN AND CONSUMER TECHNOLOGY 2022- KEEPING OUR CHILDREN SAFE

43 confidence. In Thailand, KASIKORN BANK, in collaboration with LINE Financial Asia Corporation, introduced a "Social Banking" platform called "Line BK". The app allows customers to transfer money, open a savings account, apply for loans, and make payments, all within the LINE app itself. Such product offerings not only appeal to a mobile-centric demographic due to their convenience and ease of use but also to the unbanked population.

Source: Euromonitor International Providing consumers with better access to easily digestible, educational and simple money management apps can help businesses benefit in this era of financial democratization.

Key takeaways Rapidly changing consumer behaviours are challenging traditional business models. Past purchasing habits do not necessarily imply continued brand loyalty. While access to alternatives is one way to engage the Backup Planners, Climate Changers will look for products and services that resonate. And simplicity, along with educational content, can help build trust with Financial Aficionados.

Collinson is a global leader in customer benefits and loyalty solutions that win deeper, more valuable customer relationships. For over 30 years, we’ve been chosen by the world’s leading payment networks, 1,400+ banks, 90+ airlines and 20+ hotel groups to craft customer experiences that win competitive edge.

Euromonitor International is the world’s leading provider for global business intelligence, market analysis and consumer insights. From local to global and loyalty tacticalconsultancy to strategic,expertise our research solutions support decisions how, where and when to to grow yourgreater business.

Find the right report, database Our uniquely combines strategy and on award-winning technology create engagement and experiences for or custom solution to validate redirect assumptions and uncover new opportunities. offices around the world, analysts our clients’ customers; whilepriorities, our customer benefits solutions include market-leading airportWith experiences programme, Priority Pass;in asover well 100 as flight countries, the latesthealth data science techniques and market research on every key trend and driver, we help you make sense of global markets delay, international and travel risk management solutions.

COMMITTEE CONTENT: ONLINE SAFETY AND TECHNOLOGY - KEEPING OUR CHILDREN SAFE

THIS IS HOW THE METAVERSE MIGHT BE MONETIZED

MAKING TAX DIGITAL – WELCOME TO THE FUTURE OF TAX

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Making Tax Digital – Welcome to the Future of Tax Managing Director, Spice Taxation

I was privileged to attend the two recent British Chamber Leaders in Business lunches with the Deputy Prime Minister Lawrence Wong and the Managing Director of EDB, Jacqueline Poh. It was striking to me that both, completely independently of each other, spoke passionately and enthusiastically about the Digital Economy Agreement recently concluded between the UK and Singapore.

My area of expertise, UK taxation, has been dragged along in the slipstream, albeit somewhat reluctantly at times.

Legislation has been passed in recent years to enforce the digitisation of many parts of the UK tax system and

much progress has been made. We can access our Tax and National Insurance records online through our ‘Personal Tax Accounts’ set up through the ‘Government Gateway’, and many of us file our Tax Returns online. Filing by post is quite rare nowadays and my practice, Spice Taxation, does all of its client’s tax filings online – Income Tax, Capital Gains Tax, Annual Tax on Enveloped Dwellings etc. All of which is positive, saves time and generally makes everything much more efficient.

It is, I think, a good thing that we will all need to be more focussed on our tax affairs. I also expect to find that making a quarterly submission will be an easier task than filing a once-a-year Tax Return. So, the pain that so many people feel once a year is going to be spread into more bearable parcels of torment, which is also a good thing. In other words, whilst the change may take some adjusting to, taxpayers and advisers alike will, I am sure, fall into the pattern of a new way of doing Income Tax and find, in the end, that it isn’t that bad after all.

There will be a requirement to submit a statement of income and expenses once a quarter (either to coincide with the tax quarter or the calendar quarter), with an annual summary by 31st January following the end of the Tax Year, together with a final submission reporting on other matters such as residence, bank interest, dividends etc.

Although MTD is still around 18 months away, there is no substitute for good preparation and here at Spice Taxation, we are ready and are talking to our clients about this. If the thought of engaging with HMRC with multiple submissions every quarter drives you to despair, talk to us. We actually rather enjoy tax, whether it is giving you advice to be more tax-efficient or just helping with submissions like this. We would be very happy to help.

What’s more, a new ‘points regime’ is being introduced at the same time. However, these points don’t mean prizes. For every late submission a taxpayer is ‘awarded’ a point. When a certain points threshold has been reached, an automatic GBP 200 fixed penalty will apply for that submission and any subsequent late submissions. The points have expiry dates which is, at least, something.

Martin Rimmer

And they were right to do so; it is a really exciting initiative that promises much for cooperation and the deepening of ties and trade relations.

Digitisation is, of course, much more than a by-word or a slogan – it is a practical necessity in our evolving global economy.

47 However, from 6th April 2024, landlords who qualify for MTD will need to make a minimum of six annual submissions to HM Revenue & Customs. That is twelve for a couple with one property business (say one property on long term let). Add another five each for each additional business type – such as a Furnished Holiday Letting or taxable Self-Employment.

It sounds a bit crazy. However, it is definitely coming and clients and advisers alike need to be well prepared. The enabling legislation this has been drafted and is under consultation.

So, what was once an annual task is going to become a quarterly task and it is important to get prepared for this. If you file your Tax Returns yourself, make sure that you have ‘MTD compliant’ software and a good diary system! If you use a tax adviser, they will need to be ready to work with this new system and communications and information sharing arrangements will need to be put in place.

But it doesn’t always work that way.

Sometimes, swifter and easier access to data, greater connectivity and general ease in getting things done digitally can foster an expectation of swifter responses, more accountability and responsibility, and more regular interactions. None of these are bad things in and of themselves of course, but perhaps sometimes they can be taken a step too far. Enter the maddening world of ‘Making Tax Digital’ (MTD). MTD was first announced by George Osborne in the 2015 Budget, where he confidently asserted that the Government would be ‘doing away with the annual Tax Return’. Well, it has taken 9 years, but from 6th April 2024 ‘Making Tax Digital’ for Income Tax arrives for those who are self-employed and, crucially, those who rent out properties, generating turnover of at least GBP 10,000 a year – which of course includes many British expatriates and Singaporeans.

So, is the annual tax return being done away with? In a sense, yes. In a sense, no. At the moment, filing a UK Tax Return is a once-a-year task, often deferred and relished by most sane people about as much as, say, root canal surgery.

Martin Rimmer is the Managing Director of Spice Taxation, a member firm of the Spice Advisory Group of businesses. Spice Advisory is an exciting new professional services network serving British Expatriates and Private Clients planning to migrate to or invest in the UK. We provide a comprehensive range of services from UK taxation, estate management, relocation and immigration, property development, debt advisory through to our lifestyle business. Independent of financial advisers, property companies and insurance providers, our focus is on providing impartial advice to our clients. Our evolving network is a trusted source for much-needed professional services for British Expatriates, both in-house and including external providers we endorse as best-in-class.

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