By Sam Powney

Admittedly, Hong Kong’s

Chief Executive Donald Tsang may not

be the most internationally familiar among

government heads, but it seems certain that

his visit to Europe in September attracted the

kind of attention he was looking for. Heading

a major Hong Kong Trade Development

Council (HKTDC) delegation, Mr. Tsang gave

the keynote speech to over 700 people at the

‘Think Asia, Think Hong Kong’ symposium in

London in mid-September, emphasising his

city’s key place in the development of China.

‘Hong Kong is the perfect entry point to the

huge Asian market, as hundreds of British

companies already know,’ he said.

Meanwhile, from the British government’s

side, the message chimes very well with

that of the HKTDC. No doubt a few of the

old guard in both of Britain’s major political

part ies wi l l exper ience a gut feel ing of

mistrust towards the present government’s

exhortations to British SMEs to look beyond

the shores of their native land, but the signal

from the cash-strapped British government is

clear – British businesses should think global.

Both George Osborne and Lord Green, who

visited us here earlier this year, reiterated that

the government would lend every support

possible to British businesses considering

expansion overseas. Asia is the prime focus,

although other regions of the world are by

no means ignored. Lord Green was at the

‘Think Asia, Think Hong Kong’ symposium,

where he mischievously updated Horace

Greeley’s famous epithet, ‘Go West, young

man’, to a more current though less catchy,

‘Go East, young person’. In other words,

the chancellery wants to extend London’s

lucrative internationalisation of finance and

entertainment to Britain’s manufacturing and

services sectors too.

Business Secretary Vince Cable emphasised

that the long historic relationship between

Hong Kong and Britain was now being

‘transformed into a much more dynamic and

forward-looking partnership.’ Having reversed

its post-war economic retraction, Britain’s

European focus of the last few decades is

now apparently being gradually superseded

by a more determinedly global approach.

Steve Price of HSBC explains why this has

been dubbed the ‘European paradox’, ‘On

one hand, the nations across the Channel

are close, culturally familiar and economically

similar, and present fewer trade barriers. On

the other, opportunities to trade in a relatively

saturated and low growth market are limited.’

He is not alone in pointing out that while

the European market is stil l the bedrock

of the British economy, British businesses

are certainly having to look further afi eld for

faster growth. Of the Sunday Times HSBC

International Track 100, monitoring Britain’s

fastest growing private fi rms with international

sales, half sought out opportunities abroad in

their fi rst, second or third year, and China is

now an export destination for no less than 41

of them.

DestinationDestinationHong Kong

The HKTDC’s visit to the UK matches well with Britain’s exhortation to its entrepreneurs to ‘look east’. With a push from the UK government and a pull from Hong Kong’s administration, many SMEs are considering making the jump.

PAGE 4Recruiting Hurdles

PAGE 8Property Market

PAGE 6Entrepreneur 101

PAGE 9Design

In This Issue

(Continued on page 2)

October 2011 • Vol 26 • No 9

www.britcham.com

Plus• News / New Appointments• Events• Shaken Not Stirred

Hong Kong’s attraction for SMEs wanting to do business in the region is plain, especially

those looking towards mainland China. Hong Kong’s legal system offers SMEs a trustworthy

and, particularly in the case of British companies, an easily recognisable framework

of security. Early this month, NatWest International, in partnership with the Centre of

Future Studies, released their research on the extent to which countries promote the

entrepreneurial spirit. Hong Kong made the top three easiest places in the world to start up

a business, along with Singapore and the US.

However, the problems which plague the major foreign fi rms in Hong Kong are likely to

be even more off-putting to SMEs. The shortage of international school places and lack

of affordable housing hits entrepreneurs, many of whom have young families, hardest of

all. As Chris Riley points out in more detail on page 6 (Entrepreneur 101), it is precisely

during the process of starting up a business that entrepreneurs need to keep lifestyle

costs to a minimum. In the familiar competition between Hong Kong and Singapore

vying to be Asia’s paramount international port, Singapore still has the lead in terms of

schooling, accommodation and air quality. In terms of overall quality of life, for the last

few years the NatWest survey has found Australia to be the best place for British expats

in employment.

Whether the HKTDC’s dream of attracting foreign SMEs to Hong Kong will come true

remains to be seen. The government has made the process straightforward and attractive

for foreign start-ups and, as the HKTDC’s recent road-trip shows, is increasingly active

in broadcasting this directly to foreign SMEs. The desire from foreign entrepreneurs,

especially from British businesses, is keen. At the same time, Hong Kong’s schooling,

tertiary education, housing, environmental resources, even its airport, are increasingly over-

stretched – all of which issues affect the general population just as much as the expat

community. In other words, the city needs a new drive to ramp up infrastructure. Hopefully,

the election of the new Chief Executive will expedite the process.

Facts and Figures

Hong Kong• The HKTDC has 11 offi ces in China, and nearly 30 more worldwide. Its online

global databank lists around 700,000 business contacts.

• 90.9% of Hong Kong’s GDP comes from services. According to government

figures, finance is the fastest growing sector (finance, insurance, real estate,

business services), contributing 25% of GDP, while employing 14.5% of

the workforce.

• In March this year the HKTDC launched its fi rst forum for English-speaking SMEs

and entrepreneurs

UK• 99.9 per cent of British businesses have fewer than 250 employees. These

represent around 49% of turnover (2009 BIS figures). The share of turnover

represented by British SMEs has decreased by 3% over the last decade.

• A greater share of people work for major corporations in the UK than anywhere

else in the EU.

• Only 3% of the Sunday Times HSBC 100 Track companies found local

competitors an impediment to their growth, presumably demonstrating a

preponderance of British companies offering high end services.

www.br i tcham.com2

COVER STORY

(Continued from cover)

ATTRACTING INTERNATIONAL TALENT . . . . . . . . . . . 4HONG KONG’S PRIVACY LAW . . . . . . . . . . . . . . . . . . 5ENTREPRENEUR 101 . . . . . . . . . . . . . . . . . . . . . . . . . . 6PROPERTY MARKET . . . . . . . . . . . . . . . . . . . . . . . . . . 8DESIGN: INTERVIEW WITH STEVE FRYKHOLM . . . . 9TRAVEL: THAILAND . . . . . . . . . . . . . . . . . . . . . . . . . . 10GROWING TOGETHER . . . . . . . . . . . . . . . . . . . . . . . 12

RECENT EVENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14UPCOMING EVENTS . . . . . . . . . . . . . . . . . . . . . . . . . 15NEWS AND NEW APPOINTMENTS . . . . . . . . . . . . . . 16NEW MEMBERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17MEMBER DISCOUNTS . . . . . . . . . . . . . . . . . . . . . . . . 18SHAKEN NOT STIRRED . . . . . . . . . . . . . . . . . . . . . . . 19

Over the past few months, there has been much debate about the health of the global economy, which has now begun to show signs

of stabilising, since the crisis call for concerted actions by governments went out during last month’s annual meetings of the IMF and

the World Bank in Washington.

We must watch the euro crisis closely as Asia does a lot of trade with Europe. Governments, economies and the business community

cannot afford to ignore this fact, as what happens with the Euro will impact Asian economies and markets in years to come. Here at

Britcham we can bear witness to this fact, and help enhance the cause of British businesses in Hong Kong. As economies across the

Asia Pacifi c region continue to thrive despite global uncertainties, we must change to meet the challenge of a more crisis-beset euro

area. We need to rely more on domestic demand and more on domestic capital.

On the business front, Asia Pacifi c is holding up well, growth is strong across the region, foreign domestic investment is still powering

ahead, mainland Chinese investment into Hong Kong is incredibly strong, and we are seeing the city develop into a global fi nancial

epicentre, sitting on the main highway between London and New York. The China factor for all Hong Kong businesses in amazing; it is

an essential and exciting source of business.

Britcham is a place with much bustle, which is a true refl ection of the social and business ecosystem we have in Hong Kong. During

this month, we will be organising the Women in Business Networking Lunch, which is a fantastic opportunity to network with fellow

female chamber members. Another event to attend is courtesy of the Chamber’s Logistics Committee, who have organised a tour of

Hongkong International Terminals at Kwai Tsing Port to learn about the port's development and operations, see HIT’s control centre

and go on a coach tour of the terminal berths and storage yard facilities.

In other Chamber news and events, in mid October at the Captains of Industry Luncheon to be sponsored by KPMG, Sir C K Chow,

Chief Executive Offi cer of MTR Corporation will share "The MTR Story", and talk about the twists and turns of the company's journey

to becoming one of the world's leading railways and the value that it has created for all stakeholders.

And there is more, an informal curry and quiz night is being organised by the Chamber's Scottish Business Group Committee. This will

be a networking night with a difference where one can meet fellow members and guests, take part in the general knowledge quiz and

win loads of prizes.

In early November, at the Joint Business Community Luncheon we will have the privilege to hear Chief Executive of the HKSAR,

Mr. Donald Tsang. At the luncheon, the Chief Executive will further elaborate his policy address and talk about the government's

initiatives on tackling issues related to housing, ageing population, and the wealth gap in the year ahead.

Finally, it is very important that we get things right at the Chamber and as we move ahead with our duties, I ask you to please share

your thoughts on how we can make the Chamber an even better enabler for business in Hong Kong. I hope that you enjoy this issue

of the magazine.

Kevin Taylor

CHAIRMAN’SMESSAGE

EditorsIan CruzSam Powney

DesignBill MoAlan WongKen Ng

Advertising ContactCharles Zimmerman

Project ManagementVincent Foe

Jointly Published by Speedfl ex Medianet Ltd andThe British Chamber ofCommerce in Hong Kong1/F, Hua Qin International Building340 Queen’s Road Central, Hong KongTel: 2542 2780Fax: 2542 3733Email: info@speedfl ex.com.hkEditorial: Ian@speedfl ex.com.hk sam.powney@speedfl ex.com.hkAdvertising: charles@speedfl ex.com.hk

British Chamber of Commerce Secretariat

Executive DirectorCJA Hammerbeck CB, CBE

General ManagerCynthia Wang

Marketing andCommunications ManagerEmily Ferrary

Special Events ManagerBecky Roberts

Events AssistantMandy Cheng

Business Development ManagerDovenia Chow

Membership ExecutiveLucy Jenkins

AccountantMichelle Cheung

Executive AssistantJessie Yip

SecretaryYammie Yuen

Offi ce AssistantSam Chan

Room 1201, Emperor Group Centre, 288 Hennessy Road, WanchaiTel: 2824 2211Fax: 2824 1333Website: www.britcham.com

© All published material is copyright protected. Permission in writing from the Publishers must be obtained for the reproduction of the contents, whole or in part. The opinions expressed in this publication are not necessarily the opinions of the Publishers. The Publishers assume no responsibility for investment or legal advice contained herein.

The Magazine of the BritishChamber of Commerce in Hong Kong

Losing Its ShineBy Matthew Hill, Managing Director, Ambition Hong Kong

Recent redundancy announcements have shown that, despite Asia’s comparatively

buoyant economic sentiment, Hong Kong is far from immune to the danger of job losses.

The threat comes in part from the wider vicissitudes of the global economy, but also from

our city’s policies – or lack thereof – on labour market development. The benefi ts of Asia’s

growth do not automatically accrue to Hong Kong. At Ambition, we have seen a 58%

increase in the number of candidates expressing interest in relocating to Singapore from

Hong Kong over the same period last year. Whilst there are some signs of people moving

for career advancement, it is quality of life considerations that are paramount.

An unholy trinity of factors is pushing Hong Kong off the pace in terms of catering for the

needs of an international workforce.

Firstly, the city is becoming globally infamous for its poor air quality. Three quarters of

companies in a recent survey reported that air quality is hindering their recruitment and

retention of staff. The government offers obfuscation and inertia, rather than decisive action

to improve both respiration and confi dence.

Secondly, Hong Kong is fast approaching a schooling crisis. The British Chamber of

Commerce in Hong Kong reports that 75% of its members are finding their business

hampered by lack of school places. Earlier this year, the International Business Committee,

which provides a platform for Hong Kong’s business sector to provide the government with

feedback, made a compelling case that the lack of Hong Kong primary school places is

hurting business and affecting Hong Kong’s reputation.

The current debate around the revision of the government subvention for the English

Schools Foundation offers scant evidence that either the Bureau of Education or Legco

grasp the full economic significance of providing affordable English-medium education.

ESF is not a colonial hangover; it is an important element in Hong Kong’s standing as a

world city.

Finally, rapidly spiraling housing costs are moving even modest dwellings out of the reach

of many skilled foreign workers – and before the government leans on employers to pick up

the tab, it should fi rst ask international banks why they are laying off staff. The old days are

behind us, and comprehensive expat packages are no longer commonplace.

The failure to address this triple threat to environment, school places and housing is starting

to do real damage. If the Hong Kong government wants to avoid more jobs transferring to

Singapore and the mainland, it needs to develop a taste for decisive action.

But a business community which shouts from the sidelines will elicit little sympathy – and

rightly so. International business needs to engage with these issues, rather than simply

complaining. Two principles should guide us:

Firstly, creative thinking is needed. The same lateral thinking we routinely bring to business

obstacles needs to be applied to the policy challenges Hong Kong faces – and offered to

the government in a collaborative spirit.

Secondly, we should remember that we live in a city with well over a million people living in

poverty, and amongst the world’s worst economic inequality indicators. Demonstrating a

clear concern for the future prosperity of the whole of Hong Kong is a prerequisite to being

heard on the issues that affl ict the international workforce.

About AmbitionAmbition is a leading global boutique recruitment business listed on the Australian Securities

Exchange. With coverage across Singapore, Hong Kong, Sydney, Melbourne, Brisbane &

London, they specialise in banking & fi nancial services, fi nance & accounting, technology

and sales & marketing. For more information, please visit www.ambition.com.hk

Summing up Hong Kong’s increasing difficulties in recruiting and retaining international talent, Matthew Hill lays out a roadmap for the business community to take action

www.br i tcham.com4

BUSINESS

Baker Tilly Hong KongBusiness Angel Programme

Take your businessto

new heights

This quarter’s selected entrepreneurs and SMEs showcased their business plans at the eighth Baker Tilly Hong Kong Business Angels breakfast event in front of British Chamber investors in late September. Meanwhile, submissions are already coming in for the next event which will take place in the fi rst quarter of next year.

The Baker Tilly Hong Kong Business Angel Programme, run by the British Chamber of Commerce, brings entrepreneurs and investors together to create exciting new partnerships. It gives entrepreneurs with new business ventures, or SMEs looking for funding to expand, the opportunity to present their business plan to potential investors (known as Angels).

Applicants, who do not need to be members of the British Chamber of Commerce, should be seeking to raise between USD100,000 to USD2,000,000. Short-listedapplicants will be given advice and assistance by a sub-committee of experienced professionals.

If you’re an entrepreneur or SME looking for investment, or a potential investor looking for start-up potential, please fi nd out more about our programme on our website: angel.britcham.com or email emily@britcham.com

Matching Start Ups and Investors

By Susan Kendall and Anna Gamvros, Baker & McKenzie

On 8 July 2011, the Government of

the Hong Kong Special Administrative

Region published the Personal Data (Privacy)

Amendment Bill 2011 (the “Bill”) in the

Government Gazette.

The B i l l amends the Persona l Data

(Privacy) Ordinance (“PDPO” ), which

has remained unchanged since it came

into force in 1996. It addresses key areas

that have been the subject of recent high

profile investigations. Alongside a new

offence which prohibits the disclosure

of personal data without consent, the

Bi l l introduces, among other th ings,

provisions relating the sale and use of

personal data in direct marketing.

The Bill provides that, if a company intends

to sell, transfer or use personal data for direct marketing purposes, it must:

• provide specifi c written information to the data subject (of the kinds of personal data,

class of buyers/transferees and class of marketing subjects (eg. financial products,

telecom products)) in an “easily readable and understandable format”;

• provide a facility which allows data subjects to object to the proposed use, sale or

transfer of their personal data. If the data subject replies in writing that they do not

object, or if the data subject does not respond within 30 days after the information and

facility are given or after the data is collected (“response period”), the data user may use

the data for direct marketing; and

• notify the data subject, when using personal data in direct marketing for the fi rst time for

the data user’s own purposes, that the data user is required, without charge, to cease

to use the data if the data subject so requires in writing.

Irrespective of whether a data subject objects to the use, sale or transfer of his/her

personal data during the response period, the data subject can request at any time that

his/her personal data is not used, sold or transferred for the purpose of direct marketing.

Where personal data has been sold or transferred to other parties for the purpose of

direct marketing, the data subject may also require the data user to notify the buyers/

transferees to cease to use the data for that purpose. On receipt of the notifi cation, the

data user and the buyers/transferees must cease using the data or risk criminal sanctions.

The Bill introduces heavy penalties at a level previously unseen under the PDPO with fi nes

of up to HK$1 million and imprisonment for up to 5 years for sale and disclosure of personal

data without consent. This represents a signifi cant increase from the current penalties which

peak at HK$50,000 and 2 years imprisonment.

The Bill is currently before the Legislative Council for consideration and is expected to

become law at some point in 2012. Given that the Bill is likely to pass in its current form,

we recommend that data users review their practices for collection, use and handling

of personal data in light of the proposed changes, particularly if personal data is sold,

transferred or used for direct marketing. This may entail a review of personal information

collection statements, setting up “opt-out” lists and reviewing internal direct marketing

practices to move towards compliance with the proposed changes.

For further information, please contact the authors: susan.kendall@bakermckenzie.com

+852 2846 2411, anna.gamvros@bakermckenzie.com +852 2846 2137

Proposed Tightening of Proposed Tightening of Hong Kong’s Privacy LawHong Kong’s Privacy LawFollowing growing public concern over the use of private information, a new proposal to amend the Personal Data Ordinance aims to give individuals more control over information relating to them, and harsher penalties to those who violate the law. Susan Kendall and Anna Gamvros explain the details.

5October 2011 • Vol 26 • No 9

BUSINESS

Lambert Brothers Insurance Brokers www.lambertbrothers.com.hk

Winnie Hung 2585 8260 whung@lambertbrothers.com.hk

Compared to most Western countries, setting up a business in Hong

Kong is painless and swift. Taxation is clear and fair and the red tape is minimal. If there is

any place in the world to take the entrepreneurial plunge it is here. Below are a few rules

that have proven useful.

Rule 1: Never borrow money from the banks. They will gouge you on the interest. They

will try and infl uence your business and when you are at your most exposed

they will ask for the money back.

Rule 2: When planning to set up a new business, make sure you have enough of

your own cash to get the project safely off the ground, through the clouds

and up to cruising altitude. A good rule of thumb is to have at least two

guaranteed customers where the revenue from one alone will cover your

monthly overheads. Count on customers not coming through with al l

their promises.

Rule 3: You should make a business plan in the form of a simple Profit & Loss

projection. First list all the customers from whom you expect to receive money

and break the expected revenue down by month for two years. Take into

account seasonality such as a possible drop in business at Chinese New

Year or Christmas. Make sure you do enough research with your prospective

customers without getting yourself into trouble. A sad reality is that many

customers who trust you while you are working for an established corporation

won't give you business when you are in a start-up situation. Once you gain

momentum they will be more comfortable to switch work to you.

Make two sets of projections: best case and worst case then take the median. Plug the

numbers into the top part of your business plan. Then work on the expenses. Staffing

and office rental are the biggest expenses unless your business nature requires heavy

equipment investment. Nowadays the costs of setting up computers and phone lines are

very reasonable. Try and trim these costs as low as possible by initially working from home

or sharing an office. Avoid all marketing expenses except a decent website. Your other

biggest expense will be traveling to meet customers. If you have to fl y, obviously it will be

economy class and stay with friends or in cheap hotels.

Entrepreneur 101You’re tired of the corporate politics, you don't like your boss and you think the company might be downsizing again soon. This might be the time to grab a few customers and set yourself up in your own business.

The business plan will tell you at which stage

you should break even and how much cash

you need to plug the gaps until revenue

consistently exceeds overheads.

Rule 4: Be conservative. If you think you

will start making profi t by the end

of Year One then make sure you

have enough cash to carry you

through to the end of Year Two.

Rule 5: If the start up capital required is beyond your savings, consider bringing in a

fi nancial partner. In Hong Kong fortunately there are plenty of people with spare

money to invest. A common formula might be that if you need 1 million HKD for

your start-up but only have half a million of your own money a fi nancial partner

would contribute the other half in exchange for 50% of the company's equity.

You will need to choose your partner with care and have a good shareholders

agreement in place but all parties will benefi t from the success of the venture.

An ideal partner will contribute to strategy, revue finances monthly but not

interfere with daily operations.

Rule 6: Most new businesses fail because of bad cash management not for product

or service reasons. There is nothing more important than being paid on time

and maintaining a healthy cash balance in the bank account. If possible

develop schemes where you can be paid in advance such as that favourite

trick of fi tness centres where people sign up for a package of twenty sessions

in exchange for a discount. Another solution is to have customers pay online

through mechanisms like Paypal.

Have your accountant generate a weekly cash position statement and a weekly

receivables list. Never wait until the end of the month. Don’t let your accountant chase

unpaid invoices. Do it yourself or have your sales people do it. As a new business,

customers will try and take advantage of you by demanding lower prices or longer

payment terms. Negotiate the most suitable terms so you get the work but don’t run

out of cash.

Rule 7: You don’t need to invent a new product or service to be successful. Take an

established industry but find a new twist to providing better and more cost-

effective service. This may simply be how you hire and motivate your staff or how

you use modern technology in an innovative manner. Often that’s all it takes to

carve your own niche in and old industry.

Christopher Riley is the owner of Sercura, a global quality and compliance solutions

company providing consulting and other services to retailers and their suppliers

manufacturing in Asia and beyond.

www.sercura.com

By Chris Riley, Managing Director, Sercura

www.br i tcham.com6

BUSINESS

By Kenny Suen, CEO & Vice Chairman, Vigers Holdings Limited

In September, the Hong Kong government registered

a third straight month of worse-than-expected residential

land sale this year, its residential plot in Tseung Kwan O

selling for HK$3.12 billion – far below the top forecast of

HK$4.12 billion. This refl ected developers’ caution towards

bidding on land sales while the global economic outlook is

uncertain and stock markets are volatile. In their increasing

aversion to risk, developers have shown signs of a stronger

preference for commercial and smaller residential lots in

Hong Kong. In light of this we may raise the question –

does the recent performance of land sales signal a cooling

of the Hong Kong property market?

On the land supply front, although the Hong Kong

government has paid great attention to dealing with

the concerns over housing shortages, the short-term

imbalance in supply and demand for Hong Kong’s

residential property market may persist, since residential

projects need at least several years for completion. In

fact, by the end of September this year, the Hong Kong

government may only have achieved total land sales

amounting to around 9,000 residential fl ats, which would

represent less than half of its annual minimum target of

20,000 units.

In addition, general market sentiment in the Hong Kong

property market wil l l ikely ral ly should there be any

resumption of apartment block construction through the

Home Ownership Scheme (HOS) following the government’s

policy address in October. The potential risk of a policy

overhang can be removed, though some may argue

that the resumption of the Scheme could well affect the

sentiment among the low end private residential sector,

given an overlap between the HOS and the low end private

residential markets in previous market downturns.

On the demand side, mounting inflationary pressure,

improving economic fundamentals and the increasing

importance of buyers from the mainland, all bode well for

Hong Kong residential property demand. Moreover, the

United States government has announced its extension

of the low interest rates env i ronment unt i l 2013,

suggesting continued abnormally low nominal interest

rates in Hong Kong.

Any revival in global stock markets after their recent

plunges and any easing of mainland monetary restrictions

could also lend support to a quarterly rebound in the capital

values of both mass and luxury housing in Hong Kong. The

latest easing by the mainland is the sixth increase in the

bank reserve requirement ratio this year, and precedes a

potential leveling off of infl ation in China in the third quarter.

These factors make a rebound likely despite the tightened

anti-speculative measures being imposed by the Hong

Kong government.

Accordingly, property developers are expected to ride these

favourable conditions to speed up their respective new

property project launches in the fourth quarter of 2011,

thereby helping lift the sector’s total transaction volumes.

However, given developers’ strong balance sheets and

ample liquidity, they are likely to focus on margins; in other

words, it is unlikely they will slash sale prices.

Therefore, despite the recently weak land sale performance,

near term Hong Kong residential prices should remain

solid, whilst the Hong Kong commercial property market,

benefiting from capital inflow, is l ikely to experience

moderate growth in capital values.

After the recent disappointing land sales by the government, are there signs that the Hong Kong property market will cool in the fourth quarter?

Up or Down?Forecast for Hong Kong’s Property Market

www.br i tcham.com8

PROPERTY

Interview with Steve Frykholm, Creative Director at Herman Miller

Wandering into the Herman Miller’s recent exhibition in Hong Kong

Design Institute, you might be forgiven for thinking you’d arrived at an art exhibition. Droves

of devoted young design enthusiasts cluster around exhibits in three large showrooms.

What they are looking at are classic examples Herman Miller design, and particularly those

of legendary designers Charles and Ray Eames, the couple responsible for a revolution

in home design. Yet it is their office designs which have made Herman Miller famous

throughout the business world for the last 50 years.

Steve Frykholm, a graphic designer at Herman Miller since the late 1960s, relates his

experience of the company’s development over the years, and the iconic pieces of offi ce

furniture with which we are all familiar…even if many of us had no idea who designed them.

First of all, how did you get involved in design?I guess it was in high school. I entered a competition, and the judge wrote on the back of

my entry that I should ‘consider a career in commercial art’. He couldn’t have been much

more specifi c! I’ve been a graphic designer for 42 years.

And you’ve been with Herman Miller for your entire career. Even for the baby boomer generation, that’s unusual isn’t it?It’s unheard of! But yes, I’ve been with Herman Miller all the way through. I had no idea

about that when I started out – I wanted to end up in New York or the West Coast. But I’ve

enjoyed the company all along. Opportunities have presented themselves – working with

good product designers, having interesting projects, being able to learn more. I’m very glad

that I joined when Herman Miller was a smaller company (the founder used to come into the

offi ce every day when I began) because you could say I grew up with it.

And was Herman Miller already involved in offi ce design at that stage?I’d say it was just beginning to be primarily offi ce-focused when I joined. Before that stage you

have the more home-focused designs of Charles and Ray Eames. But when I joined, Action

Office II had just been introduced – that spawned an industry.

It led to the ‘office cubicle’, although our designer Bob Propst,

never imagined it to be a cube – he had more of a 180-degrees,

hexagonal workspace in mind, something more spacious and with

lower walls. At that time we also hired Bill Stumpf to design the

fi rst ergonomic offi ce chair, the Ergon. After

that he designed the Equa chair in the mid-

1980s along with Don Chadwick, and then

again the Aeron chair in the mid-‘90s, which

is still selling very strong. So the company’s

growth really accelerated – it’s been very

interesting to watch.

So, what’s the direction now?As i t happens, we’re now working on the

Herman Miller Collection – which will have a

lot of appeal in the residential context as well

as the corporate space. So it really feels like

I’m seeing the company go full circle, back to

the early days of domestic interior design.

As an expert in the fi eld, do you notice a lot of bad design out there? We all know there are a lot of bad designs out there, but it’s important to focus on what’s

good. That’s something I learnt from one of my wife’s colleagues. Sometimes you see

something that’s not quite right – but there’s still something intriguing about it. You say, ‘If

only the designer had done this or that…’, and you improve upon it. George Nelson used to

call it ‘shoulder-climbing’, not copying!

But to answer your question, yes there is a lot of dreadful design; a lot of it is purely market-

driven to sell goods, and my personal view is that the people really don’t need so many

goods. I’m sure we could waste a lot less of the earth’s resources by being just a little more

forward-thinking.

Where do you get your inspirations from? Is it from past design models, or from your own memories and experiences? I never know! It might be a conversation, it might be seeing something; the other day I was

reading some publishing copy, and ended up circling some words that triggered images.

In a lot of ways graphic design is more

ephemeral than product design. Products

stay around, but graphic design is very

often here today and gone tomorrow. So

the process of design is a lot faster too.

What will the next major innovation in design involve? We certa in ly can’t d iminish what the

e lectronics industry has done to our

lives, and I’m sure the next great area of

innovation is bound to be connected with

electronics in some way. Just to put this in

perspective through, when I started working

all we had was a typewriter!

As for our company, besides the offi ce and

home design, we’ve also been involved

in design for healthcare organisations for

around 35 years, designing waiting rooms

in clinics for example, and that’s really

taking off at the moment. That process

of adaptation is happening very naturally;

a successful business is always trying to

branch out.

Accidentand Design

Eames lounge chair and ottoman: In continuous production since 1956

The Aeron Chair – a standard feature of modern offi ces

Moulded plastic chairs: Developed by Charles and Ray Eames during the 1940s

9October 2011 • Vol 26 • No 9

LIFESTYLE

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Paul Jeffels from Flight Centre Hong Kong explores alternative Thai beach destinations& discovers that there are lots on offer for those in need of some serious rest and relaxation.

Set amongst 5 national parks & surrounded by some of

the worlds best scuba diving sites, Khao Lak is a haven of

beauty and relaxation & is a world away from the hustle and

bustle of Phuket.

Unlike Phuket, Khao Lak has yet to be touched by mass tourism,

and certainly offers a great alternative for either a romantic break or

a family vacation.

Khao Lak has a remarkable recent history; it was devastated in the

2004 Tsunami and has since bounced back with a number of luxurious

resorts to become a “hidden gem” of the Andaman coast.

ActivitiesBeach – if you like uncrowded, soft white sand beaches then Khao Lak

if the place to be. The resorts are relatively spread out, meaning you will

always be able to fi nd your own piece of paradise.

Scuba Diving – The Similan Islands are consistently voted as one of

the world’s top 10 dive sites, the dive season runs from November

to May & there are several local companies who cater for both the

novice & experienced diver. The area is well known for the quality or

quantity of coral & fi sh.

Waterfalls & jungle treks – with 5 national parks within 30 minutes

drive, there are plenty of options for day trips if you get bored of

lying on the beach.

Resorts Local building regulations state that hotels cannot be taller than the

height of coconut palm trees making for a more secluded feel to

most of the resorts.

Sarojin – personal service in this award winning 5 star resort.

The Sarojin markets itself as if you are “staying as a guest

at a friend’s private estate”. Go for a pool residence and relax in

your own private plunge pool. No young children are allowed at

the Sarojin.

JW Marriot – boasting the longest swimming pool in South East

Asia, the JW Marriot has all the facilities you would expect

including a fantastic Kids club, leaving you more time to

relax and pamper yourself.

AccessCathay Pacific & Thai Airways offer daily direct flights to

Phuket it’s then a 70 minute car transfer to Khao Lak.

Khao Lak

Set amongst a backdrop of sheer cliffs, lush jungle and the clear waters

of the Andaman sea, the Krabi coastline is home to some of the most

spectacular & iconic views in the whole of South East Asia. The relative

seclusion of Krabi will ensure that you are never far from your own

private stretch of beach. Most luxury hotels including the Rayavadee

& Phulay Bay have options of upgrading to rooms with private pools

giving you ultimate privacy & seclusion.

Activites The calm seas & unique landscape make the Krabi coastline an

adventurer’s playground.

Krabi is an excellent base to explore nearby uninhabited islands,

including the island made famous in the fi lm “The Beach”.

Sea Kayaking – is very popular due to the calm seas and there

is a chance to explore the many sea caves & mangroves along

the coastline.

Rock Climbing – The unique coastl ine means that several

companies offer rock-climbing & abseiling trips. Breathtaking views

are guaranteed, it’s not for the faint hearted however.

Diving & Snorkeling – With crystal clear waters and secluded

bays, there are numerous opportunities to explore the sea life. The

offi cial dive season runs from November to May, where visibility is

better & seas calmer.

Resorts The relatively remote location of the Krabi coastline will ensure that

you will be rewarded with extra space & freedom. Two world class

resorts include:

Rayavadee – a secluded Spa resort situated at the heart of the stunning

Phranang peninsular, the Rayavadee can only be accessed by boat. A

perfect honeymoon or romantic break destination for those looking for

understated luxury. You will stay in a your own two-story pavilion, go for

the Hydro Pavilion for your own pool in your private sub-tropical garden

Phulay Bay Ritz Carlton – marketed as a 6 star hotel, the Phulay Bay

offers a blend of traditional thai service with all of the faculties of a luxury

resort. The villas are impressive with 4 meter beds, balcony plunge

pools. 24 hour butlers are on call to cater for your every whim. This

place is special with a price tag to match.

Access There are no direct fl ights to Krabi from Hong Kong. You will need to

either transit in Bangkok with Thai Airways or fl y into Phuket with either

Cathay Pacifi c or Thai Airways, it’s then a 90-120 minute drive to Krabi.

Krabi

With stunning sunsets, spectacular scenery and crystal blue seas,

Thailand's largest island still remains a favourite beach destination and

weekend getaway for HK residents. The ease of getting to Phuket from

Hong Kong helps it to retain it's popularity and whether it is world class

diving in the Andaman Sea or exciting eco-adventures that you are

after, Phuket is a place to extend your horizons.

Andara Resort & VillasAndara is an ultra-deluxe villa and suites resort at Kamala Beach along

Millionaires’ Mile. Set on a hill rising gently from the Andaman Sea the

resort offers stunning ocean views. Minutes away are Phuket’s best

restaurants, boutiques, world-class golf resorts and other attractions

AccessCathay Pacifi c & Thai Airways offer daily direct fl ights to Phuket.

Phuket

Undiscovered Undiscovered ThailandThailand

www.br i tcham.com10

LIFESTYLE

In 2012, in time for the British Chamber’s 25th anniversary, Britain in Hong Kong will have a new design. With a fresh look, a modern A4 format and new content, the magazine will continue broadcasting from the heart of the British Chamber of Commerce in Hong Kong.

We value your input, and greatly welcome articles from Chamber members on any issue related to business, property, community, environment and lifestyle. If you would like to fi nd out more about the new design, or have any comments and suggestions, please contact our editor: sam.powney@speedfl ex.com.hk

If you would like to learn more about the new opportunities for advertising in Britain in Hong Kong, please contact: charles@speedfl ex.com.hk

Celebrating

Years2525

11October 2011 • Vol 26 • No 9

For more information, please contact Charles Zimmerman on (852) 2542 2780 or at charles@speedflex.com.hkFor more information, please contact Charles Zimmerman on (852) 2542 2780 or at charles@speedflex.com.hk

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PerspectivePerspectiveHow’s business?We’re up year on year across the business. However, we are not growing quite as quickly as we’d like because certain European business sectors have been impacted in the last couple of months by what’s happening in Europe, in particular the IPO market is down because stock market prices are such that new candidates for listing aren’t coming forward as quickly as we would have anticipated. That’s where we see the major area of weakness, but we are still seeing companies getting ready for IPOs. Europe is weighing heavily on the local stock markets and no more so than in Asia. It is diffi cult for a Chinese property company to IPO when the shares of some of the big existing players are currently so attractive. That is the challenge, as the secondary market is depressing the primary market for new IPOs.

What are your plans for KPMG in 2011?My priorities are to stick to quality because that is a challenge in emerging markets like China and elsewhere, and to maintain our reputation in the market place. Both of these are challenging in present circumstances: accounting fi rms are under scrutiny from regulators and others, therefore maintaining brand reputation is very important.

We are constantly reinforcing our establ ished role as a cornerstone of Hong Kong’s fi nancial industry. We host forums for non-executive directors and CFOs and we work closely with the regulators and other market leaders. If you’re working in an emerging market, when things go wrong - a client may get into fi nancial diffi culty or an IPO goes wrong - despite your best efforts to prevent it, you have to deal very swiftly with the impact of those problems and get everything under control.

Where is KPMG’s biggest emerging market?The fastest growing emerging market by country is China, followed by India and Indonesia. In terms of sector, it’s probably fi nancial services. The amount of regulatory scrutiny the fi nancial sector is undergoing means that there’s a great need for the services we provide. Whether it’s rescuing or capitalizing banks, giving them advice on business transformation, helping them respond to regulatory criticism, or investigating a fraud – the fi nancial services sector is keeping us busy. In terms of functions, our fastest growing business (out of audit, tax and advisory) is advisory. If you’reworking in advisory in Asia-Pacifi c, in an emerging market, then you’re in the fastest growing part of KPMG worldwide.

You take up the Chairmanship of the European Chamber of Commerce in January. What does that involve?The European Chamber is a chamber of chambers. If businesses want to come into China and Hong Kong they will typically make contact with their own chamber first. The European Chamber acts as a portal through which the European Union can keep Hong Kong abreast of changes and new EU directives. This includes all kinds of Europe-wide changes such as reform of the accounting profession, EU directives regarding bank capital, new tax regulation on transfer pricing, etc.

This is the best forum to disseminate that kind of information into Hong Kong. Likewise, businessmen in Hong Kong can make their representations to the EU on how best to support businesses and organisations going into China via Hong Kong.

How does the British Chamber of Commerce add value to your business?It does so in a number of ways. The business breakfast briefi ngs are very useful. I’m fortunate being on the British Chamber’s General Committee to see some very high quality submissions being sent to government, so I know what the business community is feeling and what the hot topics are. The networking is also very useful - even for someone as seasoned as me!

How are accountancy fi rms being affected by the new proposed measures relating to the auditing business in Europe?Accounting fi rms are global, and it’s the global accounting fi rms that the proposed measures are aimed at. Whilst there is some merit in parts of it, the proposal that the large accounting fi rms become audit-only is not realistic. It will lead to diffi culty in recruiting talent, which will ultimately affect the quality of audits. What people may not realise is that due to the present rules on audit independence the vast majority of our advisory income does not come from audit clients, as they are almost an entirely separate clientele. These measures are weighing heavily on us at the moment. But as that debate matures – and it’s right to debate it – I think people will fi nd certain benefi ts from having large accounting fi rms with global coverage.

What’s the biggest recent news in your industry?The EU directive is a hot topic currently, but I think that in fact the outcome won’t be as severe as some people think. These measures will have most impact on people within the industry and I expect a sensible solution will be sought. But I think it’s an important debate.

For Hong Kong and China the biggest event is the election of the Chief Executive next year, and what impact this will have on Hong Kong in terms of policy. There are quite a few challenges here in Hong Kong at the moment, the poverty gap being a major one for us, as well as the environment and the third runway at the airport. There are a lot of issues requiring work in Hong Kong, and I think the international business community is keen to get on with it.

What is KPMG’s style?We have a reputation in Hong Kong of being the cornerstone of the fi nancial establishment, so when something big happens, like a Lehman crisis or the BCCI collapse in the early nineties, KPMG has typically been the fi rm in this town that people turn to solve those big problems. So we have a reputation of being that cornerstone, of very high quality work and a fairly deserved reputation of being tough. We want to maintain that reputation but it is increasingly hard when you are working in an emerging market where the range of things that can go wrong is much wider. Our style is to do the right thing and to be seen doing the right thing.

Interview with Paul Brough, KPMG Regional Senior Partner, Hong Kong

www.br i tcham.com12

MEMBERSHIP

Thank you for yourcontinued support

TheBritish Chamber’sSterling MembersSterling Members

A launch ceremony with all participating schools will be held at South Island School on the 6th October. For more details please contact Dovenia Chow at Dovenia@britcham.com.

The British Chamber of Commerce Environment Committee is pleased to announce the

launch of the ‘Growing Together’ project in partnership with HSBC and involving selected

schools in Hong Kong. The scheme originated as a way to encourage Corporate Social

Responsibility across the British Chamber membership. Twenty schools (10 international

and 10 local schools) have been selected to take part in this one year pilot programme,

during which students will work with Microgardens and Bokashi composting systems

to foster their awareness of environmental and sustainability issues.

The programme aims to introduce students to organic farming/planting and to educate

them on the growth cycles of plants, and on composting and reducing food waste. It

will give them the opportunity to learn about other issues, such as the impact on carbon

footprinting and climate change, and will encourage students to appreciate the value of organic materials in

growing local, sustainable and non-toxic fresh produce. The programme, which can easily be built into the

teaching curriculum, will demonstrate the proven benefi ts that a creative, hands-on, horticultural activity can

have on schools and students, as well as serve as a useful catalyst to diversify the range of academic studies

that are currently available in Hong Kong. International and local schools will be ‘paired’ together to promote

cultural exchange and knowledge sharing, as well as English-language enrichment for the local students.

HSBC Climate Champions (employees who have gone through intensive classroom and field climate

change training) will be involved as facilitators of sharing activities among the participating schools,

providing opportunities for students to establish career contacts and understand the business community

in Hong Kong.

In addition to the British Chamber’s role as Project Manager, our project partners for ‘Growing Together’

are as follows:

The Hongkong and Shanghai Banking Corporation Limited - SPONSORHSBC supports the communities in which they operate. They focus their community investment activity

on education and the environment – the fundamental building blocks for the development of communities

and drivers for economic growth and poverty alleviation. In 2005, HSBC became the world’s fi rst carbon

neutral bank.

The Green Patch– MICROGARDENS SUPPLIERThe Green Patch are specialists in organic installations and horticulture educational workshops.

Microgardens features the intensive cultivation of food and other plants grown in twin-walled modular

containers made from 95% recycled uPVC with a life span of at least 20 years, purpose-designed to

ensure stable growing conditions in a safe, fertile organic media.

Teng Hoi Conservation Organisation – BOKASHI SUPPLIERTeng Hoi Conservation Organisation is a non-profit making organisation that develops practical and

participative environmental programmes with a strong emphasis on education and measurable results.

Bokashi originates from Japan and features a hygienic and vermin-free composting process using

micro-organisms.

Participating schools:Abacus Kindergarten

Bradbury School

Clear Water Bay School

Chiu Yang Por Yen Primary School

Creative Primary School

Discovery College

ELCHK Lutheran Secondary School

Hong Kong Baptist University Affi liated School

King George V School

Kowloon Junior School – Rose Street

Ma On Shan Ling Liang Primary School

Munsang College (Primary Section)

Munsang College (Secondary Section)

Peak School

Quarry Bay School

Renaissance College

SMKMCF Ma Ko Pan Mem College

South Island School

St Bonaventure Catholic Primary School

St Paul’s Convent School

Growing TogetherGrowing TogetherLetting Hong Kong’s Children

Learn about Green Issues

Sponsor

Sponsored by

September EventsSeptember saw several major events organised by the Chamber, including:

Captains of Industry Luncheon5th September 2011John Slosar, Chief Executive, Cathay Pacifi c Airways spoke about

“Cathay Pacifi c: Banking on a Great Future for Hong Kong”

Luncheon with Visiting Justices of the Supreme Court of the United Kingdom

27th September 2011A visit by Lord Phillips, Lord Clarke and Lord Hope, of the new

Supreme Court of the United Kingdom, who were on their way

back from a visit to mainland China. Amidst a lively discussion

and questions from the fl oor, the three Lord Justices explained

the reasons behind the change in the legal system in October

2009, and what the new structure entails.

Annual Economic Debate22nd September 2011Dr Jim Walker, Founder & Managing Director

of Asianomics had severe warnings about the

underlying state of China’s economy, while

Nicholas Kwan, Head of Research at Standard

Chartered Bank predicted a smoother landing

for the mainland in the coming year.

Sponsored by

www.br i tcham.com14

EVENTS

Upcoming Events

Captains of Industry Luncheon with Sir C K ChowEvent date: Fri, 14 Oct 2011, 12:30-14:15

Sir C K Chow, Chief Executive Offi cer of MTR Corporation will share “The MTR Story”,

the twists and turns of the company’s journey to becoming one of the world’s leading railways

and the value that it has created for all stakeholders. The Captains of Industry Series is

sponsored by KPMG.

Women in Business Networking LunchEvent date: Thu, 20 Oct 2011, 12:30-14:00

Come and join the Women In Business Networking Lunch, a great chance to network with fellow female

chamber members. This month's lunch will take place at the Watermark in Central.

Non-members are very welcome to attend.

Scottish Business Group Quiz and Curry night!Event date: Thu, 20 Oct 2011, 19:00-22:00

Join us for a fun informal curry and quiz night, organised by the Chamber's Scottish Business

Group Committee. This will be a networking night with a difference - meet fellow members and

guests, take part in our fun general knowledge quiz and win some prizes!

The Jardine Matheson Group & British ChamberYNetwork Scottish Ceilidh 2011

Event date: Fri, 21 Oct 2011, 20:00 – Sat, 22 Oct 2011, 01:00

It is that time of year again! The ever popular British Chamber YNetwork Scottish Ceilidh is

back, and is set to be better than ever! Get ready to dance the night away to the popular reels,

and enjoy some delicious Scottish fare, washed down with plenty of whisky! This is a hugely

popular event, and space is limited, so please book now to avoid disappointment.

Hongkong International Terminals TourEvent date: Wed, 26 Oct 2011, 14:15-17:15

The Chamber's Logistics Committee have organised a tour of Hongkong International Terminals

at Kwai Tsing Port. Join us with John Harries, Port Development Director, Hutchison Ports South

China to learn about the port's development and operations, see HIT’s control centre and a coach

tour of the terminal berths and storage yard facilities.

Joint Business Community Luncheonwith Donald Tsang

Event date: Wed, 02 Nov 2011, 12:15-14:00

Chief Executive of the HKSAR, Mr. Donald Tsang has accepted the invitation to speak

to the business community in Hong Kong at a luncheon on 2 November 2011,

following his policy address to the Legislative Council in mid-October. At the luncheon,

the Chief Executive will further elaborate his policy address and talk about the government's

initiatives on tackling issues related to housing, ageing population, and wealth gap

in the year ahead.

Hong Kong Treasure HuntEvent date: Sat, 12 Nov 2011

Quintessentially Foundation has partnered with local businessman Chris Geary and is

hosting the inaugural Hong Kong Treasure Hunt to raise money for fi ve charities.

They are looking for teams and volunteers for the day and also have a multitude of

opportunities for companies to be involved as sponsors.

For more information please contact: Quintessentially Foundation

(Ms Orla Gilroy Tel: 37587404)

For more information on upcoming events,please visit www.britcham.com/events

15October 2011 • Vol 26 • No 9

EVENTS

Moving overseas and leaving loved ones behind can be hard, but leaving elderly parents without the emotional and practical

support upon which they have become reliant is distressing.

At Mogers we have been helping expats who have elderly parents in the UK manage long distance care for decades. Our Concierge Service offers hands on local and practical support, such as paying bills, dealing with tax returns or finding suitable

long or short-term care solutions which take away a real burden and give genuine peace of mind for everyone concerned.

To learn more about this service and how it can benefit your family please contact Derwent Campbell on +44 1225 750001 or email derwentcampell@mogers.co.uk.

Further details regarding all our expat services can be found on our website www.expatlaw.co.uk

Global accountancy network BDO International Limited has recently appointed Martin van Roekel as CEO.

Martin joined BDO CampsObers in the Netherlands in 1975, becoming a partner in 1988. He immediately became involved with international business as the partner responsible for the Dutch sub-holding of an international US client. On a national level, he managed the Northeast region for six years and became a member of the board of BDO CampsObers Accountants & Advisers, representing Finance and IT, in 2002, moving to chairmanship of the board in 2004. In the

same year, he became a member of the international BDO Policy Board and took over the chairmanship in 2007.

In 2009, Martin stood down from his role with BDO Netherlands and from the chairmanship of the international Policy Board in order to join the Global Leadership Team as Global Head of Network Development and CEO – Europe. His appointment refl ected the importance of network development to BDO, and under his leadership the network grew from 110 member fi rms to 125, covering 15 additional countries.

The global accountancy firm BDO Limited has recently appointed Angela Wong as the Human Resources Director.

Angela possesses extensive HR generalist experience and exposure in a diversity of industries, such as IT consulting, banking, telecommunications, security and NGO, in addition to professional accounting. She has held Human Resources Director positions and played a strategic regional / local HR role in a number of MNCs which are world leaders in their respective industries. She has a proven track record in acting as a professional business partner to the l ine management and in re-engineering the organisations.

Angela holds a Doctor Degree of Business Administration from The Hong Kong Polytechnic University, and a Master Degree of Business Administration from City University of Hong Kong. She is also a Professional Member of the HK Institute of Human Resource Management.

Martin van Roekel

PricewaterhouseCoopers has recently appointed Tony Evangelista as Partner, handling the company’s asset management.

Tony Evangelista joined PwC Hong Kong on 1 August, 2011 from PwC US. While in the US, he helped set up PwC's investment management regulatory compliance practice in New York. He also spent two and a half years at the Securities and Exchange Commission where he helped develop and review rules for investment companies and advisers.

Tony has also assisted foreign governments in developing their investment management regulatory framework, and he is bringing this extensive knowledge and experience to accelerate the growth of PwC Hong Kong’s own regulatory practice.

PricewaterhouseCoopers has recently appointed Angelica Kwan as Partner, handling US taxes.

Having practiced in New York for fifteen years, Angelica has extensive experience in private equity, mergers and acquisitions, and international transactions. While in New York, she advised on the formation of funds and the acquisition of portfolio companies in a range of industries. Prior to joining PwC Hong Kong, Angelica was a US tax partner at Sidley Austin LLP in New York.

Business law fi rm Tanner De Witt has recently announced the appointment of Olivia Crooke as the new Practice Development Manager.

Olivia will concentrate on strategic business development plans for the f i rm, a long with c l ient re lat ionship management initiatives and developing the firm’s brand and profile in the region. She has eight years business development experience in regional management roles for major US and UK fi rms. Tanner De Witt is a move that she has been eager to make due to the fi rm’s stellar reputation and strong focus on client development.

Tony Evangelista

Angela Wong

Angelica Kwan

EC Harris report fi nds that construction costs in Asia are on the riseJapan, Hong Kong and Singapore are the most expensive places in Asia to build and are amongst the world’s top twenty most expensive countries, according to the 2011 International Construction Cost Report released by built asset consultancy, EC Harris.

According to the survey, which benchmarks the cost of building in each country, the construction prices in Asian countries have risen more than Western countries in the past twelve months resulting in higher overall rankings for the Asian locations. Tim Robinson, Head of Cost and Commercial Management in Asia at EC Harris said, “We’ve seen construction prices in Hong Kong continue to rise due to the shortage of skilled labour, increased demand on commodities and increased construction output volume in the public and private markets.“

South Korea and Macau completed the top fi ve most expensive countries across the region whilst China fi nished in seventh position and in 47th place overall. India and Sri Lanka were named the cheapest places to build in the survey both in Asia and the wider world as a whole.

China’s banks post strong profi ts, ahead of foreign counterparts, says KPMGChina’s local banking sector posted another year of strong growth for 2010, ahead of their foreign counterparts in the country, according to KPMG’s latest annual survey of China’s banking sector.

The survey covers a record 182 banks, representing 85 percent of all banking assets in China, as well as 33 of the 37 foreign banks that were locally incorporated prior to year-end 2010.

The report notes strong profi t growth despite the impact of government steps to restrict credit. This is mainly being driven by a rapidly growing deposit base, increased net interest margins and growth in non-interest income. For the 172 banks which provided net profit figures for both 2009 and 2010, there were strong signs of profit volatility between banks and well as larger increases being made by smaller institutions.

The survey also notes the onset of internationalisation of the RMB, which has added a new element to the banking sector and should be a strong source of growth for those banks with a regional or international presence.

Partnership Fund for the Disadvantaged has begun seventh round of applicationThe Social Welfare Department has recently announced the launch of the seventh round of applications for the Partnership Fund for the Disadvantaged (PFD), with the deadline of submissions of applications being 31 December, 2011.

Hong Kong’s Chief Executive, in his 2005 policy address, announced the establishment of a HK$200 million PFD to promote tripartite partnership among the welfare sector, the business community, and the government to help the disadvantaged. The government will provide dollar-to-dollar matching grants to donations made by business to support non-governmental organisations (NGOs) in implementing social welfare projects. With the provision of matching grants under the PFD, business corporations are encouraged to take up more corporate social responsibility for creating a more cohesive, harmonious and caring society.

Since the establishment of the PFD in the 2005, a total matching grant of over $180 million has been approved for 125 NGOs, in joint hands with 790 business organisations, to carry out 442 welfare projects to benefi t over 800,000 disadvantaged people. In view of the positive response, the government injected $200 million into the PFD last year to encourage further cross-sector collaboration to help the disadvantaged.

Anti-money laundering focus drops down board agendas, ASPAC lags behind US and EuropeBanks’ focus on anti-money laundering is being squeezed by other priorities, according to KPMG’s latest global survey for 2011. Only 62 percent of senior management at the banks globally said they consider this to be a top priority, compared to 71 percent in 2007. For Asia-Pacifi c (ASPAC), that number is even lower, with 50 percent indicating that AML was either a moderate or low profi le issue, in which the board of directors takes some or little interest. This was 12 percent lower than the global average.

Transaction monitoring continues to be the biggest AML cost for banks, however there is a level of dissatisfaction with the results, with less than one-third of respondents able to monitor a single customer’s transactions and account status across several countries. The results also show that respondents in 2004 and 2007 underestimated future spending on AML. Respondents in 2010 estimate that AML costs will rise by 29 percent over the next three years, but they have underestimated it again, especially when the new US tax law – FATCA – is taken into account.

Olivia Crooke

www.br i tcham.com16

NEWS/NEW APPOINTMENTS

Business Policy UnitTim Peirson-SmithExecutive Counsel

China CommitteeDavid WattDTZ

Construction Industry GroupDerek SmythGammon Construction

Education CommitteeStephen EnoBaker & McKenzie

Environment CommitteeAnne KerrMott MacDonald Hong Kong Limited

Financial ServicesInterest GroupDebbie AnnellsAzure Tax Consulting

HR Advisory GroupBrian RenwickBoyden Search Global Executive

ICT IT CommitteeCraig ArmstrongStandard Chartered

Marketing & Communications CommitteeAdam O’ConorOgilvy & Mather Group

Real Estate CommitteeJeremy SheldonJones Lang LaSalle

Scottish Business GroupDr. Jim WalkerAsianomics Limited

Logistics CommitteeMark MillarM Power Associates

Small & Medium Enterprises CommitteeKate KellyK2PR

Women in Business CommitteeSheila DickinsonIpac Financial Planning Hong Kong Limited

YNetwork CommitteeFiona FoxonQuintessentially

Business Angel ProgrammeNeil OrvayAsia Spa & Wellness Limited

Tim Hay-EdiePilot Simple Software

Chairs of Specialist Committees

CORPORATEFocusOne Limited

Douglas Gerber

CEO

Tel 2854 0780

douglas@focusoneleadership.com

Unit 17B, 128 Wellington Street

Central, Hong Kong

Business Services

The Consultancy Ltd

Emma Jane May Smith

CEO

Tel 3114 6339

esmith@consultancy-pr.com.hk

9B, Carfi eld Commercial Building

75-77 Wyndham Street, Central

Hong Kong

Consultancy

STARTUPAsia First Executive Limited

Simon Crockett

Managing Director

Tel 9019 2961

simon.crockett@asiafi rstexecutive.com

1902a, Lippo Centre, Tower 2

89 Queensway, Admiralty, Hong Kong

Management Consultants

Leading Organisations

International Co Ltd

Mitya New

Managing Director

Tel 2921 9370

Fax 2921 9308

mitya.new@leadingorganisations.com

18/F, 8 Queen’s Road Central

Hong Kong

Management Consultants

ADDITIONALBloomberg L.P

Dominic Sizer

Account Management, North East Asia

Tel 5196 6026

dsizer3@bloomberg.net

27/F, Cheung Kong Centre

2 Queen’s Road Central, Central

Hong Kong

Financial Services

Jones Lang LaSalle Limited

Peter Trollope

Local Director - Head of

Business Development

Tel 2922 4421

peter.trollope@ap.jll.com

6th Floor, Three Pacifi c Place

1 Queen’s Road East

Hong Kong

Property / Real Estate Services

Lauren Richards HK Ltd

Max Cooke

Director

Tel 9450 6136

max@laurenrichards.com

15A, 20/F, Prince Industrial Building

106 King Fuk Street, San Po Kong

Kowloon, Hong Kong

YNETWORKFast Track HK

Melvin Byres

Account Executive

Tel 2616 2710

melvin.byres@fasttrackagency.com

23/F, Shun Ho Tower

24 Ice House Street, Central

Hong Kong

Consultancy

Quintessentially

Emma Gibson

Partner

Tel 3758 7417

emma.gibson@quintessentially.com

2/F, Teda Building, 87 Wing Lok Street

Sheung Wan, Hong Kong

Lifestyle

17October 2011 • Vol 26 • No 9

NEW MEMBERS

Food and Beverage and Accommodation

Accor | Members will receive 10% discount on top of the lowest rates that Accor’s Asian hotels are offering on the day (5% off hotels outside Asia Pacifi c). This applies to over 1600 Sofi tel, Pullman, Novotel, Mercure & All Seasons hotels worldwide. For more information please contact Regina Yip on 2868 1171 or email regina.yip@accor.com

Alfie’s | Members of the British Chamber of Commerce can benefit from a 10% discount at this chic restaurant in Hong Kong.

Berry Bros. & Rudd | Members can benefit from a 10% discount on all retail prices as well as receiving invitations to free tastings and other wine events during promotional period.

Courtyard by Marriott Hong Kong | Members will receive a 10% discount on food only in MoMo Café. To make a reservation please call 3717 8888.

Dot Cod | All Members of the British Chamber of Commerce of Hong Kong will receive a 10% discount on the bill. For more information please call 2810 6988 or email dotcod@hkcc.org

Grand Hyatt Hong Kong | 15% discount on food and beverage at The Grill and 10% discount on all a la carte treatments and spa merchandises at Plateau Spa. To make a reservation please contact the Grill on 2584 7722 or the Plateau Spa on 2584 7688

Hyatt Regency Hong Kong, Tsim Sha Tsui | 10% discount at The Chinese Restaurant, Hugo’s, Cafe and Chin Chin Bar (except during happy hour). To make a reservation please call 2311 1234

JW Marriott Hotel Hong Kong | Members will receive a 10% discount on the total bill at Man Ho Chinese Restaurant, JW’s California, Marriott Cafe, The Lounge, Riedel Room @ Q88, and the Fish Bar & Grill. To make a reservation please call 2810 8366.

Le Méridien Cyberport | Members can book a Smart Room at the special rate of HKD1,600 including a daily eye-opening buffet breakfast (subject to availability). You will also receive 20% discount at 5 of the hip restaurants and bars that the hotel has to offer. Furthermore, when you book the 21-day long room package at HKD23,100 you will receive a ‘Round Trip Limousine Service’. For more details please call 2980 7785.

Hong Kong Skycity Marriott Hotel | Members will receive a 10% discount on the total bill at Man Ho Chinese Restaurant, SkyCity Bistro, Velocity Bar & Grill, and The Lounge (Promotion does not apply to alcoholic beverages). To make a reservation please call 3969 1888.

Renaissance Harbour View Hotel | Members will receive a 10% discount on the total bill at Michelin Star Dynasty Chinese Restaurant, all day dining at Cafe Renaissance, Scala Italian Restaurant and the Lobby Lounge. To make a reservation please call 2802 8888.

The Mira Hong Kong | Members will be given special room rates, a complimentary upgrade and fantastic discounted rates on the Spa suite package (subject to availability). For more information please contact Benjamin Mueller-Rappard on 2315 5642 or bmr@themirahotel.com

Home

Allied Pickfords Hong Kong | For any Home Search completed by SIRVA Relocation, members will receive a FREE local move. Please call 2823 2077 or email homesearch@sirva.com

Bowers & Wilkins | B & W are offering members a 10% discount on all listed price items in the B&W Showrooms in Tsim Sha Tsui and Central. For more information please call 3472 9388 or 2869 9916

TaDa! | 10% discount on every online purchase as well as other special offers such as a free concierge service and delivery! For more details please visit www.tada.net

Travel & others

Avis | Members can receive up to 20% discount off standard rates on car rental bookings. To make a booking please call 28822927 or visit www.avis.com.hk

British Airways | As a member of the British Chamber of Commerce you can enjoy an exclusive offer from British Airways. Travel before 31 December 2011 and receive 7% discount on all fares. To make a booking please visit www.britcham.com/memberdiscount/british-airways

Carey | As the world’s fi nest chauffeured services company Carey are pleased to offer Britcham members a 10% discount on the base rate of any service, anywhere in the world. For more information please call the international reservations team on +800 0123 4578 or email international.support@carey.com

Compass Offi ces | Compass Offi ces, a premium serviced office provider, are offering members a one month free Serviced Office space or three months free with a Virtual Offi ce Package. For more information please call 3796 7188 or email hksales@compassoffi ces.com

Flight Centre | Members will receive HKD150 off the first booking made as well as a complimentary Airport Express ticket per booking. For all holiday and flight enquiries please call Paul Jeffels on 2830 2793 or email paul.jeffels@fl ightcentre.com.hk

Virgin Atlantic Airways | Special offers to London are available exclusively for members of the British Chamber of Commerce. Please call 2532 6060 for more details or to make a reservation.

VisitBritain | British Chamber members can enjoy a 5% discount on all purchases from the VisitBritain online shop. Please call 3515 7815 or visit www.visitbritaindirect.com for further information.

Member Discounts

Terms and Conditions apply. All member discounts are subject to availability. If you are

interested in providing a tailored offer to our members or for more information please contact

Emily Ferrary on 2824 1972 or email emily@britcham.com

There are many great benefi ts of being a member of The British Chamber of Commerce. One of those is the Member Benefi ts program which is an exclusive package of discounts that range from discounted car rental, reduced hotel accommodation, airfares and even relocation costs.

Every six months we invite members to prepare a tailor made offer to all the members of the British Chamber. You can fi nd these benefi ts listed below and for more details please visit our website www.britcham.com

www.br i tcham.com18

MEMBERSHIP

Simon Ho (The Fry Group), Janet Yeung (The Executive Centre)

James McGowan, Swan McGowan

Freya Simpson Giles (Giles Publications), Stuart Leckie (Stirling Finance), Elise von Stolk (Santa Fe Relocation Services)

Melanie Osborne (Living Group), Dominic Masterson-Smith (Human Communications), Derek Ip (Santa Fe Relocation Services)

Dovenia Chow (The British Chamber of Commerce in Hong Kong), Joseph Lam (BALtrans International Moving), Max Cooke (Lauren Richards), Francesca Cooke (Lauren Richards)

Ben Lester (Elite Capital Solutions), Samuel Olsen

Damian Tubbert, Constance Ip (Asianet)

Roger Wu (PMTHK), Jenny Pang (Giles Publications), David Leung (Systems Go)

Dan Patient (Brand HK), Roger Wu (PMTHK)

Teg Maffa(Lotus Art),

Florence Banales (AXA Asia)

Ricky Shin (Pwc), Yuelin Zhu (PricewaterhouseCoopers)

Fergie Miller (Compass Offi ces), Emily Ferrary (The British Chamber of Commerce in Hong Kong), Jessica Schubert (Compass Offi ces)

Brent McDougal (Hays), Anthony Richman (Affi niti), Corey Franklin

James Sutton (The Fry Group), Chris Parker (Carey International),

Jonathan Zamora (AON)

Gregory Seitz (AGS Four Winds), James Sutton (The Fry Group)

Gregory Seitz (AGS Four Winds), Daniel de Guzman (Allied Pickfords)

Shaken Not StirredAug 2011, Jimmy’s Kitchen

19October 2011 • Vol 26 • No 9

EVENTS