ScandAsia Singapore - March 2016

MAR 2016

Dreaming big with Frontier in Southeast Asia

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Coming Events

Swedish Business Association Singapore’s AGM Where: Tanglin Club, 5 Stevens Road When: 29 March, 18:00 - 21:00 Save the date 29 March 2016, and attend the SBAS Annual General Meeting!

Please note that this is the updated date for the AGM. The venue will be at the Tanglin Club and the meeting will start at 18.00, followed by dinner at 19.00. A representative from SIMC (Singapore International Mediation Centre) will give a talk on how SIMC provides world class mediation ser vices for cross-border commercial disputes.

Register at www.sbas.org.sg

Scanbiz Bar Singapore Where: Vasco, Hong Kong Street.

When: 7 April, 18:00 - 23:00 Save the date 7 April 2016.

It’s the first Thursday of the month, which means it’s time for Scanbiz Bar! SBAS - Swedish Business Association Singapore invites fellow Scandinavians to come and meet friends, or make new ones over this monthly networking event.

As always, there is special Scanbiz offers all night, but don’t miss happy hour from 6pm-9pm.

The venue is Vasco on Hong Kong Street.

Ever yone is welcome! Be prepared for a truly festive Thursday night!

Scandinavian Women’s Association hiking Southern Ridges Where: Henderson Road, SingaporeSouthern Ridges When: 8 April, 09:00 - 12:00 Begin the weekend with a beautiful hike along the Southern Ridges in rain forest and over amazing bridges with SWA. Beginning from 9am, the tour will end around lunch.

More information to come!

DABS Annual Ball Where: Hotel Ritz Carlton When: Saturday 9 April DABS Annual Ball 2016 with entertainment by the most popular singer in Denmark since the middle of the 1980s; Thomas Helmig!

Come and sing and dance with Thomas Helmig and Band at the grand hotel Ritz Carlton for another fantastic DABS Ball. More than 250 guests - both members and non-members - have already bought their ticket and we hope you will join us as well!

To sign up for tickets please send an email including the names of your guests to dabs@ dabs-singapore.com. Your reser vation is not confirmed until payment has been settled.

ing big Dream rontier with Fheast Asia in Sout ia.no

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Your FREE ScandAsia Magazine in Singapore ScandAsia is the only magazine that covers all the Danish, Finnish, Norwegian and Swedish residents in Singapore.

We also publish a ScandAsia magazine in China, Thailand, and the rest of South East Asia.

Get your own FREE copy: scandasia.com Publisher : ScandAsia Publishing Co., Ltd. 211 Soi Prasert Manukitch 29 Prasert Manukitch Road Chorakae Bua, Lad Prao Bangkok 10230, Thailand Tel. +66 2 943 7166-8, Fax: +66 2 943 7169 Editor-in-Chief : Gregers A.W. Møller gregers@scandmedia.com Assistant Editor: Joakim Persson Joakim@scandmedia.com Advertising : Frank Leong frank@scandmedia.com Finn Balslev finn@scandmedia.com Graphic Designer : Peerapol Meesuwan Peerapol@scandmedia.com Distribution : Wanvisa Rattanaburi wanvisa@scandmedia.com Printing : Inthanon Interprint Co., Ltd.

News Brief

Danish embassy meets artist/goodwill ambassador Kristine Oustrup Laureijs

O

n 15 February the Embassy of Denmark in Singapore had the pleasure of talking to contemporar y ar tist and Danish goodwill ambassador Kristine Oustrup Laureijs during a lunch meeting on Kristine’s “Tree of Life” installation. She delivered a powerful message on food habits and the demand for more industrialized food, especially in the light of haze and the reasons behind the haze.

Well-known from formerly at the helm of Qi GLOBAL Kristine Oustrup Laureijs has “transformed” into an installation artist exploring the complex relationship of humans, nature and food under the theme of Mamakan (meaning “mother”, “home”, “eat”).

In the “piotal year” 2015 Kristine realised that her purpose, professional love and talent in life was as an artist. And that her humble contribution to the art world would be stemming from magical marriage of art and food, she writes on her own website.

“I believe that our relationship with food

represents the relationship we have with nature, at the most intimate level: the admiration, love, destruction or dysfunction. What if we ourselves are nature? By exploring different aspects of food through interactive art installations, we become aware of our connection with nature, ourselves and each other.”

“Tree of Life” explores the connection between the fires and our everyday consumption.

The interactive installation penetrates the paradox of desire and temptation dating back to the story of Adam and Eve. Tree of Life will show in Singapore the later part of 2016 and then travel to other destinations.

Kristine’s professional journey has taken her from Brazil to Europe to Asia, back to Europe and then back to Asia. She has worked her way through the fashion and luxury industries, the worlds of charity and social entrepreneurship, from modelling over trend forecasting to management consulting for some of the world’s biggest companies.

Danish housing delegation visits Singapore

I

n mid February 2016 a delegation from the Knowledge Centre for Housing Economics, Copenhagen visited Singapore to learn about the Singaporean way of housing its population, reports Embassy of Denmark, Singapore.

The visit included interesting meetings with the National University of Singapore, Savills Singapore, and Housing Development Board (HDB) among others, and site visits with the Urban Redevelopment Authority to some of the Singapore heritage Black-and-White-Houses.

Jailed Norwegian fined after retrial

N

orwegian Arne Corneliussen’s has been fined $2,000 after retrial, reports news. asiaone.com, based on a charge of causing hurt by wrapping his arm around the neck of a cab driver. This marks the end of his one-and-a-half-year-long ordeal, dating back to September 2014.

This was a lesser charge compared to his previous charge of causing hurt by grabbing taxi driver Chan Chuan’s neck and choking him at the Boat Quay area after a night of drinking on Sept 22, 2014. For that, he was sentenced to 10 weeks’ jail last April.

He admits guilt over hurting a cabby. Now, Arne Corneliussen (Singapore permanent resident) wants to put the entire incident behind him.

So much so that the Norwegian national is willing to forgo the $30,000 he had paid taxi driver Chan Chuan Heng as compensation.

But he told The New Paper he is still not ready to forgive the cabby for his part in the incident, which caused him to lose his job and spend nearly six weeks in prison on a conviction that was later quashed.

4 ScandAsia.Singapore • March 2016

Said Corneliussen, 51, yesterday: “Do I forgive him? That is a good question because I still don’t know how I feel about that.”

The he added: “I have given this a lot of thought and in a way, I don’t wish to blame (Chan) any longer. He is going through his own trial. It’s his turn now.”

Last September, Chan was charged with causing hurt and providing false information to the police. His case is still before the courts.

Corneliussen added that he also does not fault the police and the prosecution as they had “worked with all information they had at the time”.

His case took a dramatic turn a month later when two new witnesses said Chan was the one who had attacked Corneliussen.

Corneliussen and Chan had a disagreement over the taxi fare as the cabby had wanted to charge a flat fee rather than use the meter, according to witnesses’ testimonies.

The witnesses had left the scene before police arrived and reacted only months later, after reading a newspaper report about Corneliussen’s conviction.

The new evidence led to the quashing of his initial sentence.

Corneliussen was released after spending five and a half weeks in jail - more than half his original sentence - and his case was sent back to the courts.

In the State Cour ts the prosecution recognised that Corneliussen had already served nearly six weeks in jail, but submitted that a deterrent sentence is necessary.

He was fired from his previous job as a director with DHL and has been unemployed since December 2014. He had been working at the international logistics company for 29 years.

He also incurred a hefty legal fee and his personal reputation was affected, he said.

Source: news.asiaone.com Photo: Terence Ong

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In addition, Stamford American is unique in offering pre-university testing from Grade 8. This early introduction allows Stamford March 2016 • ScandAsia.Singapore 5

News Brief

Finnish Innovation Event held in Singapore

A

Finnish Innovation Event was arranged in Singapore on 24 Febr uar y with the companies with Silverskin, AirGo, Management Events and PlayGain in session at the Aalto Executive Education Academy.

Opening words for the evening event came from professor and author Dr. Kirsti LindbergRepo. It also saw business innovation presentations

by Silverskin, Airgo, Management Events and Playgain within the topic ‘What are the hottest

Finnish companies conquering Southeast Asia What is their innovation all about’ The event also included company demos and networking.

The cyberattack company Silver skin’s innovative concept is built on ethical hacking.With permission from its customers Silverskin tests how easily customers’ systems can be penetrated by hackers.

AirGo Design Pte Ltd is a privately-funded, Singapore-based start-up with a patent-pending and award-winning design concept, praised by media in over 10 different languages as ‘The Future of Airline Seating’.

Management Events’ innovative concept brings together top-level executives and solution providers, providing high value to both parties. Its concept attracts 20 000 visionary leaders to our events in eleven countries, over 170 times a year.

PlayGain is a game lab providing games for better HR-management. The games are based on multidisciplinary know-how, scientific research and pedagogical learning principles.

Finnish Consulting Group sets up Asia hub in Singapore

Auli Keinänen, Regional Director, Asia

F

innish Consulting Group’s Board of Directors recently visited the Embassy of Finland in Singapore in late February 2016, coinciding with the establishing of FCG’s new Asia hub.

Finnish Consulting Group Asia in Singapore consolidates the strengths of FCG Group companies, offering the best Nordic and international exper tise to a growing number of clients in Asia. The hub allows FCG to work closely with their existing and new clients in Asia and stay ahead of business opportunities in this rapidly developing region.

The hub enables the FCG teams working in various areas of expertise to provide their services in new international growth markets.

FCG’s increased regional presence and networks in Asia will also benefit FCG’s partners, including Nordic companies and organisations that have

6 ScandAsia.Singapore • March 2016

an interest in expanding their activities in the continent.

In international projects FCG’s strength lies in their local market presence, in their solid and versatile international experience, as well as in their highly efficient staff both at home and in fieldwork, explains the FCG website.

FCG has been working towards sustainable development in Asia since the 1980’s,implementing major projects in water supply and sanitation and rural development in Sri Lanka, Nepal and Viet Nam. As the priorities of the countries have evolved, the scope has expanded include natural resources and environmental management, energy, agriculture, climate change, education, ICT, innovations and SME development. During the years FCG has gained experience from most parts of Asia, with a geographical reach all the way from Middle East to the Pacific Islands.

Based in Singapore, Finnish Consulting Group Asia is naturally well connected with South East Asia, but will work also with promising opportunities in other parts of the continent.The Asian countries are also increasingly investing in

development in other parts of the world. FCG is well positioned to suppor t this through its networks in Africa, Middle East and Europe.

FCG’s major clients includeAsian Development Bank,World Bank, European Union, Governments of Finland, Sweden, New Zealand and other bilateral donors.With the establishment of Finnish Consulting Group Asia, FCG stands ready to respond to the needs of the rapidly changing development financing market in Asia, with the emergence of new international financing for infrastructure, sustainable development and climate change response, as well as the increasing capability of Asian countries to finance their own development.

Finnish Consulting Group Asia builds upon the FCG’s long experience, utilising the expertise and solid project management systems of the company head office in Finland. The key staff members of Finnish Consulting Group Asia are long term FCG employees, ensuring the continuity and synergies between FCG Group companies. New talent is recruited in areas that have the strongest growth potential in the future.

News Brief

Sweden’s Defence Ministry at Singapore Airshow 2016

T

he State Secretary for Sweden’s Minister of Defence Mr Jan Salestrand attended the biggest airshow in Asia on 16 - 21 February.

The state secretar y also had a number of bilateral meetings in Singapore including a Courtesy Call on Senior Minister of State for Defence and Foreign Affairs Dr Mohamad Maliki Osman.

Source: Embassy of Sweden in Singapore Photo Credit: Ministry of Foreign Affairs,Singapore

Danish Ambassador in Singapore leaves this summer

By Frederik Guy Hoff Sonne

B

erit Basse, Danish Ambassador in Singapore, is leaving the embassy this summer after four years of ser vice due to a larger Ambassador shuffle.

She will be replaced by Dorte Bech Vizard, currently Director in the Danish Foreign Affairs department, Invest in Denmark and Innovation.

In an interview from 15th of October 2012, back when she was just assigned as the new Danish Ambassador to Singapore, she told ScandAsia how she as ”an enthusiastic 22-yearold back-packer traveling across Asia, fondly recalls her first, daylong stopover in Singapore in the mid-eighties” and that she “Even back then, it struck me as orderly and clean”.

Now, four years later, Berit Basse can take look back at four years of hectic activity in Singapore.

During her time as Ambassador, Berit Basse, has been praised for her lively assistance in developing the market for Danish investments in the financial powerhouse of Singapore, but she has also been tested to the limit when the giant Danish company OW Bunkers went bankrupt in 2014.

With a Master of Science in International Business and Politics and Intercultur al Communication, Ambassador Berit Basse has always sought challenging assignments, starting with her time in Senegal with the UNDP to her prior role as Head of Department – Strategy, Quality and Policy at the Ministry of Foreign Affairs in Denmark.

The Ambassador shuffle also involves changes elsewhere. Mikael Hemniti Winther, Ambassador at the Royal Danish Embassy in Bangkok, is leaving Bangkok for Dhaka, Bangladesh after 5 years of service. New Ambassador in Bangkok this summer is set to be Uffe Wolfhechel, former Danish Ambassador in Kabul.

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Making it possible Nordea Bank S.A, Singapore Branch is part of Nordea Group, the leading financial services group in the Nordic and Baltic Sea regions. Some products and services may, due to local regulations, not be available to individuals resident in certain countries and their availability may depend, among other things, on the investment risk profile of persons in receipt of this publication or on any legislation to which they are subject. Nothing in this publication should be construed as an offer, or the solicitation of an offer, to purchase, subscribe to or sell any investment or product, or to engage in any other transaction or provide any kind of financial or banking service in any jurisdiction where Nordea Bank S.A., Singapore Branch or any of its affiliates do not have the necessary licence. Published by Nordea Bank S.A., R.C.S. Luxembourg No. B 14.157 on behalf of Nordea Bank S.A. Singapore Branch, 138 Market Street #09-03, CapitaGreen Singapore 048946. www.nordeaprivatebanking.com subject to the supervision of the Monetary Authority of Singapore (www.mas.gov.sg).

March 2016 • ScandAsia.Singapore 7

News Brief

New Norwegian cooperation to promote trade interests in Singapore

O Headhunter is better placed in Copenhagen than Singapore

A

fter a number of years in Singapore, Jan N. Lauridsen will now be located to Copenhagen to improve maritime business on the Scandinavian market.

Jan N. Lauridsen is responsible for the American Heidrick & Struggles’ global maritime executive search.To let the business grow, Heidrick & Struggles relocates him to Copenhagen, which now will take the position as Scandinavian headquarter.

In Singapore Jan N. Lauridsen has been responsible for building up the maritime business to Heidrick & Struggles, but now his main tasks in Copenhagen will be to find new employees for the new offices in Copenhagen and Stockholm.

One of the reasons behind the relocation is the European timezone, where “you can bite off Singapore in the morning and the American East Coast in the afternoon”. As a consequence of the venture capital fund entering the shipping market, United States has in general moved up the rank prior to the shipping industry, which also regards the list where headhunters spend their time.

“Singapore and Asia is still the operational hubs of the world when it comes to maritime businesses, but the managerial power exists in Europe. Since private equity funds has invested in shipping United States has been a bigger player, therefore will a base in Copenhagen get me closer to many of our great clients,” says Jan N. Lauridsen.

In addition being Managing Par tner for Scandinavia will he continue to be head of maritime headhunting on a global plan to Heidrick & Struggles.

Sources: www.shippingwatch.dk

8 ScandAsia.Singapore • March 2016

n 11 February Innovasjon Norge signed a contract together with Eksportkreditt Norge in Singapore. Together they will cooperate to promote Norwegian trade interests.

Even if Norwegian holdings already export a lot to Singapore, there is potential for additional export according to Jarle Roth, managing director in Eksportkreditt Norge.

“There is especially more potential regarding maritime business and offshore-related trades.”

Innovasjon Norge already owns offices in Singapore, and with the new partnership with Eksportkreditt Norge they will work together on local resources.

“Our cooperation will not limit us to a few businesses, but will include all relevant export of capital goods and services from Norway. Offers regarding export financing are usually always a competitive advantage for Norwegian exporters,” says Jarle Roth.

The local agents will be given the responsibility to follow up on both existing projects and new opportunities.They have to follow up on potential projects from early stages and provide relevant market information.

“The local presence will indeed strengthen our market analysis.”

Head of Innovasjon Norge, Anita Krohn Traaseth, agrees.

“Our common owner, Nær ings- og fiskeridepar tementet (Trade- and fishing Ministry) has challenged the national operators to identify more fields worth cooperate in to benefit Norwegian trade. The agreement between Innovasjon Norge and Ekspor tkreditt Norge, where we will share resources, knowledges and expenses, will be an answer to the challenge,” says Anita Krohn Traaseth.

In February 2015 the companies established their first agreement on sharing resources in foreign markets, that time it was in Rio de Janeiro in Brasil. The local presence will now be boosted even more with joint resources in Singapore, too.

Sources: www.innovasjonnorge.no

Nordea wins 2016 Euromoney award for best private banking

E

uromoney has awarded Nordea as the best provider of private banking services in the Nordic region and the Baltics for the eighth year in a row.

Upon learning the news, Head of Nordea International Private Banking in Singapore Kim Osborg Nielsen reveals.

“We are honoured to be part of the best private bank in the Nordics,” Kim Osborg Nielsen says.

“The award from Euromoney offers us great visibility and brings international recognition for our services. From Singapore, throughout our strategic markets in Asia, we want to offer the best solutions to wealthy Nordic citizens. The award reconfirms our commitments and achievements in terms of developing and delivering private banking services to the highest standards for our clients who are internationally-based.’ ’ Nordea Private Banking ranks among the top 20 Private Banks in Europe. It is the largest in the

Nordic region with EUR 90 billion in assets under management and about 115,000 customers who are served by 900 private bankers located at 80 branches.

In December 2015, Nordea was also named “The Bank of the Year in Western Europe” by “The Banker’’ magazine. This is the most prestigious banking award in the world – conferred by ‘‘The Financial Times’’ – and the winner is selected among 500 participants, based on an evaluation of a number of financial and business-related factors in its country or region. To date, Nordea Bank has received the award twice, in 2012 and 2015.

From Nordea’s International Private Banking branch in Singapore, senior private bankers with strong market knowledge and structuring capabilities ser ve the growing community of Nordic individuals in Asia, assisting clients in several countries in the region.

About the Euromoney Award The award from the international financial magazine Euromoney is based on industry peer assessments and votes from senior private banking and wealth management staff.

About Nordea International Private Banking Founded in 1976, Nordea’s International Private Banking is centred in Luxembourg, with branch offices in Switzerland and Singapore.

March 2016 • ScandAsia.Singapore 9

10 ScandAsia.Singapore • March 2016

Great Dane is new President to World Aquaculture Society Asia

By Maria Andreasdottir

I

t is a big job to have responsibility to promote educational, scientific and technological development of aquaculture in Asia. Luckily, the new elected President to The World Aquaculture Society (WAS) Asia is a big guy. Not to be confused with the dog breed, the Grand Danois or “Great Dane” in this context is French-born Guillaume Drillet. The 2-meter-tall man from Danish Hydrological Institute (DHI) in Singapore will begin his President duties in April 2016.

It is not only his height that is difficult to miss – so are his competences. Guillaume had no intention himself to run for President in the beginning, but Past-President of WAS, Roy D. Palmer personally asked him to go for it, because of Guillaume Drillet’s great skills, and, according to Guillaume himself, probably because of his Danish mind-set.

“I have fun when I work. I have adapted the way of combining humour and seriousness in my work tasks. This is one of the many things I adapted from living in Denmark.”

Guillaume left France in 2000 as part of an MSc degree on Coastal Resource Management at the University of Caen. He finished his training period in the Danish city of studies, Roskilde, and later he took a European Funded Ph.D. between Roskilde University and Denmark’s Technical University Aqua departement in Copenhagen. He had become so fund of his new life in Scandinavia, and had no intention to go back ‘home’.

“I have worked in many countries but I love the Danish way of living, the humour and the freedom of speech. Here is it okay to be frank about everything. In Denmark I finally felt like home.”

Home is where the heart is, and not only did he fall in love with Denmark, but with the

woman of his dreams, too. He met her at Risø (Aarhus University) where she was on a Marie Curie fellowship, from Slovakia. They both would love to live happily ever after in Copenhagen, but due to job insecurities, they both decided to move to Singapore in 2010 when Guillaume was offered a job for the Danish company DHI Water & Environment.

“It was not our first choice to leave Denmark, but honestly this job feels like I was still located in Denmark.The Danish atmosphere is here; we are just placed on the other side of the world. One of the characteristics I learned about Danes is their ability to adapt quickly to something new. So, my wife and I did the same here in Singapore. Now this is home.”

Maybe it is his French genes, but Guillaume is a very passionate man. Beside his work at DHI he is still doing research, and in 2011 he received one of the most prestigious Danish Awards for his science work on copepods; The Sapere Aude Young Elite Scientist Award by the Danish Agency for Science and Innovation which comes with a financial support of almost 2.8 million Danish kroner. This work was carried out under the DHI-NTU Research Centre, and Guillaume still collaborate closely with Roskilde University. At DHI, he is now acting as a head of section for Ecological Processes and Aquaculture; a team working with Ecological modelling, ballast water and aquaculture. The work of this team has now lead him to the honoured title of President of WAS Asia Pacific Chapter.

“I am ver y grateful how our wor k is appreciated, and I’m only glad to help sharing ideas and promote education and sustainability in the field of aquaculture in Asia.”

Being WAS President is a non-paid job, but what the people in charge can do for the

aquaculture worldwide is priceless.

“The Aquaculture industr y is the fastest growing food industry in the entire world and 90% of it is taking place in Asia. It means we have to do everything possible to improve sustainability and maintain a healthy environment.”

He believes Asia can learn a lot from Denmark in terms of sustainability and efficiency.

“Denmark is one of the global leaders when it comes to aquaculture. One of the reasons is that Danish producers have invested early and implemented high quality equipment. The developed Danish Technologies are probably the best on the market. Unfortunately, Asia has a tendency to choose price over quality, which not always is the best solution in the long run and when you want sustainability.”

To meet the expanding international nature of the Society and to address specific needs in various areas of the world, Presidents of WAS are elected every third year. The next big Asian conference will be held in April 2016 in Surabaya, Indonesia, where Guillaume officially will be announced elected President, a title he has been chosen for among 200 other members.

Altogether there are more than 3000 members in World Aquaculture Society in more than 100 countries, but the high number doesn’t scare the tall man.

“I like to protect people. Maybe because of my height,” he laughs.

Even if Guillaume has a full time job and is deeply devoted to his science projects, he is a full time husband and father, always finding time when people ask for his help and advice. Being elected as President for a large organization is a way of recognizing his help.

“And that makes me even higher.”

March 2016 • ScandAsia.Singapore 11

Dreaming big with Frontier in Southeast Asia Asia as growth market and start-up scene for Nordic companies and entrepreneurs is assisted by Finnish fundraiser and consulting firm

By Joakim Persson

12 ScandAsia.Singapore • March 2016

I

n the Digital economy (or New economy), where disruptive innovations, start-ups and other service-oriented growth companies are increasingly dominating business, Asia is a market to be reckoned with, thanks partly to a blossoming entrepreneurial ecosystem in the region. Westerners, including of course many from the Nordic countries, enter here directly with their ideas, including as a first, international target, where Singapore is positioning itself as a hub and test market.

With a branch in Singapore Finnish-operated Frontier is there to assist with start-up funding, fundraising, and go-to-market consulting - focusing on Nordic companies.

With road shows to Singapore in store towards the spring, Chairman Mikko Silventola, as spokesperson for a trio of Finns, portrays the scene and Frontier’s services.

Singapore not to be missed Frontier, its website presents, has since 2008 successfully helped over 100 Nordic companies to enter and grow business in the Middle East and Southeast Asia. Frontier has helped many new Nordic ICT innovations to grow their markets abroad like: CreateTrips, Capricode and Piceasoft.

Mikko Silventola describes himself as a Finnish-born entrepreneur based in Singapore (since 2.5 years), who previously founded media publishing companies, sold them and moved to private equity and also helping other companies in going international. He moved to Singapore to set up Frontier, after having previously been based in Dubai to expand a media publishing company. “The original story why I moved here is that I read a book by Singapore-based expat investor Jim Rogers. I thought that Singapore is next so I moved my family here, and also for the reason

that Singapore is the gateway to Southeast Asia.

Everything here is done by the book and with high standards, and we feel that Singapore is the best country in the world to do business. It may not be the largest market but the surrounding ones are amazingly huge, so it’s definitely a place not to be missed,” says Mikko.

Frontier has a team of 15 people, including in the Middle East, with the main management team consisting also of board member Dr. Jari Talvinen and the founder-CEO Timo Nurminen, aside Mikko.

“Now it’s mostly about helping other companies and investing into tech start-ups. Our big focus is on tech companies, but we also have more traditional cases and we’ve had clients ranging from start-ups to public companies.”

“Our clients are Nordic companies expanding to Southeast Asia and the Middle East, including also those looking to raise funds here. We have several clients from Norway, Sweden and Finland and have done quite many cases. Most companies are looking to grow or expand here, and some are looking for investors or seed funding.”

“There are so many good Nordic companies that see that their home market is not big enough and if Asia is their priority market it’s quite important to raise funds or find strategic investors from here that also can help their business grow,”

explains Mikko and adds how important it is to partner with players like Frontier for this.

“We’ve built up the local knowledge and contacts, including partners in the surrounding countries that we always use in order to be able to raise funds and reach bigger deals.”

He describes the quality of start-ups coming from Finland, Sweden and Norway as “pretty good” and most of them are interested in coming also to emerging markets such as Southeast Asia.

Asian start-up investors The Finn also believes that the opportunities here are increasing for local investment.

“The start-up movement is quite big also here in Singapore and every day the newspapers write about tech start-ups so everybody’s interested in them, and there’s, for good or for bad, quite a hype, leading more investment into start-ups.”

Significantly, for investment and innovations coming here from the Nordic countries, the trend is increasing to stake at such emerging markets directly, rather than building up a business carefully starting only locally.

“Today you just take Arlanda Express to the airport and then you can jump on a plane to Helsinki, or Singapore – where the surrounding markets are a bit bigger, and also the amount of capital that investors have is huge.”

Our clients are Nordic companies expanding to Southeast Asia and the Middle East, including also those looking to raise funds here. We have several clients from Norway, Sweden and Finland and have done quite many cases. Most companies are looking to grow or expand here, and some are looking for investors or seed funding.

When it comes to market importance Asia’s huge population makes it more important than the western.

And the start-up scene he thinks is pretty good and growing a lot, including good events both in Singapore as well as in Jakarta, Indonesia.

‘The quality is getting better all the time.

Sooner or later we will see big start-ups and big valuations coming from Singapore and other parts of Southeast Asia, also,” he predicts.

Hong Kong’s emerging star t-up scene, he agrees, is also interesting.

“Hong Kong is the gateway to China, and yet a bit more western. Maybe what differentiates Hong Kong from Singapore is the short distance to main land China.”

But he thinks that might bring some risks.

“As a founder of something I would set it up in Singapore where everything is done by International Financing Reporting standards. This is the place to be.”

The Frontier chairman thinks Singapore is doing its best in setting up a business- and start-up friendly environment.

“And I feel that Singapore is led like a private company rather than a country and that’s a really good thing for the companies that are expanding here but it’s also a really good thing for the citizens because that’s how one should run a nation,” he says and gives a hint to where his home country should look for an example in order to improve its governance.

When it comes to improvements needed he comments: “I feel that Singapore still needs to see the big billion dollar exits from here to create more motivation for the entrepreneurs here but of course lots of new innovations are coming this way so you should just keep our eyes and ears open, talk to each other and exchange ideas.”

No-nonsense service Frontier’s service is described as ‘no-nonsense market research reports but result-orientated hands-on approach and focus on sales.’

“Basically we try to be the partner from seed to exit, so we help our clients with the fundraising and then with going international and also handson sales development. Also, we have done quite many start-up investments by ourselves.”

To mention a few client cases, Frontier helped the crowdfunding platform Fundedbyme in setting up shop and raising capital from local investors, and Plantui smart garden in identifying Southeast Asian venture capital. They assisted Create Trips to close deals with many huge players in the travel industry in this region.

“Also we have several public companies using our service in expanding to Southeast Asia. We don’t always need or even want equity, but we always charge a retainer and a commission on the raised funds or provided services.”

“In the beginning we look at the team, which is the most important thing; the product comes second. And possibly there’s a patent and global potential that would strengthen our interest in investing. In many cases, we really enter in the early stage, so we are the advisers in the company, we raise the seed funding for them and then we help to do the Series A [first round of funding] and the following runs on that, as well as all the March 2016 • ScandAsia.Singapore 13

documents and action points when it comes to the exit.”

Finnish games The Finnish mobile game start-up Koukoi Games is such a client, where Frontier as a par tner assisted the first funding round with a yield of $1 million.

“We started helping them even before they had formed a company, as we really liked their team; they were a bunch of young, energetic and talented guys and girls, who used to work for bigger gaming companies and wanted to start something on their own. Currently we are talking to many Asian investors, for the Series A round with this company.”

“Also we’re talking with many game publishers and Asian partners who are looking for companies like Koukoi games in these markets – China in particular.”

“In the gaming industry you need lots of capital also for marketing, it doesn’t make you successful if you just publish the game,” he adds.

Their first gaming title called Crashing Season will be launched worldwide in the spring.

“It’s going to be an awesome game,” promises Mikko.

14 ScandAsia.Singapore • March 2016

Asian markets for foreign mobile game companies are difficult to conquer, but together with Frontier Koukoi will be able to overcome this.

“Asia and China are amazingly huge market and should be a top priority market for any gaming development company or game publisher.”

This new start-up can also ride on the wave of other, successful gaming companies.

“Of cour se’s Rovio and Supercell are amazingly successful companies coming out from Finland. These examples are motivating so many entrepreneurs - not just specifically in the gaming sector but also in other fields - to dream big and try to achieve big goals. It’s really good for the Nordic start-up culture. And also those billiondollar companies function as excellent motivation for Asian entrepreneurs to dream big.”

Start with an app In other sectors large amounts are not necessarily needed, including for disruptive technologies.

“In the beginning you can just develop an app and star t. It’s quite efficient and doesn’t require that much capital. There are many other important things in the beginning when it comes to the team and their motivation.”

Case in point, Mikko has invested in a Singaporean company called Sendhelper delivering cooks and maids for households: “They were growing quite fast without much capital and of course once you get the cash injection it gets you further much faster – but it’s not necessarily in the beginning that you get millions.”

Looking ahead, Frontier is launching three projects in the spring when it comes to helping out more on the go-to market side: within Cleantech, ICT and Education.

“These are or more like sales meeting trips for Nordic companies, where we only include ten companies into each programme. We will carefully investigate, based on the participating companies, who are the likely investors within each sector and look for those kinds of services and start dialogues, so that once the companies arrive here they have good opportunities to sign deals.

“For Cleantech Singapore 2016 we are collaborating with Sustainable Energy Association of Singapore. The reason for this project is that the Singapore government is currently investing 3 billion SGD this year on this sector, so it’s really relevant.”

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March 2016 • ScandAsia.Singapore 15

Swedes in Thailand are bat Text and photos: Frederik Guy Hoff Sonne

M

any Swedes living in Thailand have a hard time getting a proper health insurance. Cases and stories a different, but common is that they either deselect insurance or face unmanageable insurance costs as they’re nearing retirement. Now they want the Swedish Government to look into their case.

Swedish laws demand that one needs to be a resident in Sweden and moreover stay in the country for more than 6 months a year in order to receive national health insurance. For some Swedes this is not suitable for their health, while others think this is unfair, as they pay Swedish pension taxes.

Meet Åke Andersson, 75-year old retiree living in Thailand since years. Åke Andersson suffers from rheumatism for 25 years. In Sweden he was taking medication to battle the illness but now living in Thailand the climate helps him. He doesn’t take medication anymore. This means he has to be in Thailand all year around, which prevents getting suppor t from the​ Swedish national health insurance, even though he pays 20 % tax over his pension.

When Åke Ander sson was diagnosed with his disease more than 20 years ago, the government allowed him to reside in Spain and still get covered by the state insurance - until the 16 ScandAsia.Singapore • March 2016

joint European Union’s health care agreement was adopted that is. But now when he’s retired and resides in Thailand the government won’t cover him.

Another case is Åke Viktorsson, a 72-yearold expat living in Thailand since six years, while also paying tax on his pension to Sweden. Åke Viktorsson is healthy and made the choice to live in Thailand for personal reasons.

“I’ve been working outside of Sweden most of my career and didn’t pay taxes. Back then it wasn’t a problem that I was not covered by the Swedish state. But now I pay my taxes and then it would only be fair if I was covered by the national health insurance”, he states. Åke Viktorsson has the right to treatment when visiting Sweden, but he may have to pay himself.There are no guarantees as it depends on circumstances and the specific case. Emergencies are fully covered, but according to him, the problem is he doesn’t know if or when this could occur.

So when moving to Thailand with his wife and son, Åke Viktorsson was investigating for private insurances, but they were simply not worth it. It would cost 350.000 baht a year to cover his family.

So he took the risk.

“Avoiding illness would save my family 350.000 baht each year. We have been lucky

enough to avoid this and now have a couple of millions baht to get sick for”, he says, adding: “It’s a risky game, but it is more economical than to pay for a private insurance each year”.

Private insurances are pricey when nearing retirement age and they often don’t cover former illnesses.

“When you’re in your seventies your medical record is pretty long, so these private insurances covers almost nothing of impor tance”, Åke Viktorsson assess.

The Norwegian scheme A group of Swedish expats resided in Phuket are now taking action. They are united in the community Skandinaver på Phuket (SpP) and want to be accepted on the national health insurance - as they pay taxes - without having to spend half the year in Sweden. Bo Jonsson, 81-year old Swedish living in Phuket because “it is cheaper and the climate is better”, leads this initiative.

The group doesn’t understand why Swedish pensioners can live outside of Sweden in the European Union and still get covered by the national health insurance , w ​ hile the same Swede living in Thailand paying the same tax, cannot.

As an alternative they propose an international state insurance, where they could pay “a little

extra” on the tax bill for administration and then get covered for health issues in Thailand. Norway has such a system.

“I’ve done a comparison with the Norwegian scheme. If Sweden adopt this model, it would only cost the ​retired taxpayer in Thailand 375 SEK for a Swede with a state pension on 17.500 SEK a month and 187 SEK for a state pension on 10.000 SEK a month. And we’re more than eager to pay that in extra taxes”, Bo Jonsson, retired economist explains.

This is 2500 SEK a year on a state pension with 10.000 SEK and 4500 SEK a year, if your state pension is 17.500 a month. “So this is much cheaper, than a private insurance”, Bo Jonsson concludes. However in the Norwegian scheme, one has to have spend 3 of the last 5 years in Norway. SpP wants to avoid that limitation, since it could exclude those who e.g. may have worked many consecutive years abroad, like Åke Viktorsson and Bo Jonsson.

Sweden has special health care agreements with Australia, Israel and Algeria. Surprisingly to Bo Jonsson as he states “they have lesser Swedish expats, than in Thailand”.

Bo Jonsson proposes that Sweden should expand these agreements to be global: “The matter is to adjust to the fact that people more and more live in other countries than their native one, also outside of EU”.

Couldn’t people take undue advantage of an international agreement as costs are different around the world?

I’ve been working outside of Sweden most of my career and didn’t pay taxes. Back then it wasn’t a problem that I was not covered by the Swedish state. But now I pay my taxes and then it would only be fair if I was covered by the national health insurance.

“It depends on how the agreement is done. It should be negotiable, so Sweden supports a fixed amount for certain issues regardless of where you live. In Thailand this would be very cheap for Sweden but in New York of course it would be expensive, so there the care might not cover fully”, Åke Viktorsson suggests.

Why is it not just a possibility for you to stay in Sweden half the year? ”​ Me and my wife, in wheelchair, are here because of a better climate and I could not have the help in Europe I can have here and cover costs with our pensions, my wife’s is a minimum one from Italy. We are healthy, apart from that. In reality I could not afford travelling twice a year to Sweden and rent another apartment and pay for the service there, only to eventually get the health care we might need”, Bo Jonsson answers and adds: “I would still not be covered here in Thailand. That is what we are asking for; to be covered during the time here, i.e. if you live longer time and not as a tourist, but when having e.g. a visa for a whole year working or being a retiree”.

And what should be the Swedish state’s’ interests in such an agreement?

ttling for health insurance

Åke Viktorsson lives in Phuket with his wife and son March 2016 • ScandAsia.Singapore 17

Bo Jonsson, retired Swede living in Phuket, is the head organizer behind SpP’s proposal for the Swedish Government “Fair and equal treatment of citizens is a sine qua non [indispensable and essential action] for politicians, discrimination between people concerning matters of rights is not feasible. Even Swedes living abroad have the right to have health care in Sweden, to me it is a matter of practical implementation of such health care rights. Furthermore, it is more efficient to receive it where you actually live and in the case of Thailand, also far cheaper and available faster than in Sweden. If Sweden has an agreement with Australia, the state must already have identified the advantages for its citizens”, Bo Jonsson says.

Taking action Bo Jonsson has done a report on the insurance situation for 24 of SpP’s 240 members backing their proposal. The sur vey is not statistically validated, but Bo Jonsson states: “the cases are validated”.

At the Tsunami ceremony 27th December 2014 in Khao Lak Bo Jonsson and other representative​s from SpP were asked to ​present a​ repor t to Åsa Regnér, Minister ​in Sweden​ for Children, the Elderly and Equality, and she told them that “we have started to think of the matter”. When getting the report s​he ​answered she ​would take the repor t with her to her colleagues in the Social department​. Since then it has been w ​ aiting​.​ “Later correspondence has only concerned 18 ScandAsia.Singapore • March 2016

I’ve been working outside of Sweden most of my career and didn’t pay taxes. Back then it wasn’t a problem that I was not covered by the Swedish state. But now I pay my taxes and then it would only be fair if I was covered by the national health insurance.

the general approach by the government to others who are not well off economically, and socially. and concerning that people in general question all the generosity to refugees or so called refugees until they are refused asylum,while for certain others, such as citizens living abroad there is no such funding. We are glad to have learned in the answer from the minister: ‘I am reading what you say and thinking of how to handle it’”, Bo Jonsson reports​.

Now Bo Jonsson and SpP has taken action in co-operation with Svenskföreningen i Hua Hin. They just posted a letter to the Government concerning their proposal. They got the advice to send it to Gabriel Wikström, the Minister for Health Care​. ​​​The letter ask​s​for a government study, a so called elucidation for a purposeful a​ ction.

“We expect that the government now has enough control over the issue of caring for ​the real ​asylum seekers and can include our issue ​as one of its many other actions to reach people that need the support of the state”, Bo Jonsson ends.Swedes in Thailand are battling for health insurance

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