britain in hong kong sept 2012
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Brand Britain
10 24 The Hong Kong CleanupBalancing Tradition and Modernity GREAT Campaign18
September 2012 Vol 27 No 7
Not For Sale
www.bri tcham.com
HONG KONGBritainIN
Brand Britain5GREAT Campaign18
4 Chairman’s Message
5 Brand Britain
8 Secondment of Employees to Hong Kong
10 Balancing Tradition and Modernity
12 The Benefi ts of Internships
14 Opinion: Five Reasons Why Hong Kong is an Ideal Data Centre Hub for Asia
16 Hong Kong as a Transportation Hub
18 GREAT Campaign
20 Leaving Home
22 An Olympic-sized Opportunity for Hong Kong
24 The Hong Kong Cleanup
26 All-inclusive Elephant Adventure
30 Upcoming and Past Events
32 Member Discounts
34 Member Get Member 2012
36 News and New Appointments
38 New Members
39 Shaken Not Stirred
The Hong Kong Cleanup24
Contents
EditorSam Powney
DesignWinnie LiLilian YuSteve MokKen 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: sam.powney@speedfl ex.com.hk Advertising: charles@speedfl ex.com.hk
British Chamber of Commerce SecretariatExecutive DirectorCJA Hammerbeck CB, CBE
General ManagerCynthia Wang
Marketing and Communications ManagerEmily Ferrary
Special Events ManagerBecky Roberts
Events ExecutiveMandy Cheng
Business Development ManagerPhillippa Cook
Membership ExecutiveLucy Jenkins
AccountantMichelle Cheung
Executive AssistantJessie Yip
SecretaryYammie Yuen
Offi ce AssistantSam Chan
© 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.
Room 1201, Emperor Group Centre, 288 Hennessy Road, WanchaiTel: 2824 2211Fax: 2824 1333Website: www.britcham.com
Britain in Hong Kong
28064_BCO_Sept.indd 328064_BCO_Sept.indd 3 12年9月18日 下午5:2312年9月18日 下午5:23
Nick Sallnow-Smith
The completion of the Olympics was quickly followed with a “back to school” atmosphere in Hong Kong.
Miles of column inches have been dedicated to assessments of the competition, and of the opening
and closing ceremonies. One positive message to draw might be the virtues of diversity. The London
ceremonies were so different from Beijing’s. Instead of this being a cause for comment, favourable or
otherwise, perhaps we should be saying “thank goodness”, when so much diversity is being lost in the
fl at world of global marketing.
The event was also a useful reminder of London and Hong Kong’s shared history and their parallel roles
in business aggregation in Europe and Asia. Neither city can take this position for granted. Our unique
histories led accidentally but serendipitously to being in the right place, at the right time and with the
right people. This is a position rarely usurped by a competitor but can be easily lost by too casual an incumbent. As we go “back to
school” with a new administration, a new Legislative Council, and new political dynamics, the Chamber has to move quickly to get a
good grasp of those dynamics and to ensure that its membership’s views are heard on how to ensure business continues to thrive.
Over the autumn we will ensure that we take every opportunity to do just this. The deferral of the fi rst Policy Address of C Y Leung
may be useful in allowing the administration time to refl ect on the Chamber’s feedback rather than simply rolling out policies from its
election manifesto without time to refl ect.
The Chamber has advocated on many occasions the need to consider the impact of new legislation/regulation before bills are
rushed through the legislature. The Competition Bill, now the Competition Ordinance, has been a good example. We will need to
monitor its impact when the Competition Commission is set up and the Ordinance operative, and give members the opportunity to
feedback concerns on its implementation.
Finally as we go to press, our Consul General Andrew Seaton is working through a no doubt exhausting schedule of farewells. While
Andrew’s role in Hong Kong over more than one tour has been widely praised, it cannot be said too often that he has not only
undertaken his diplomatic role with exemplary courtesy and effectiveness, he has attended far more of our events and meetings
than his diary should have allowed. We thank him for that and wish him and his family all good fortune back in London. He will be
fondly remembered here in Hong Kong.
Chairs of Specialist Committees
Business Angel ProgrammeNeil OrvayAsia Spa & Wellness Limited
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 Services Interest GroupRichard WinterQuam Limited
HR Advisory GroupBrian RenwickBoyden Search Global Executive
ICT IT CommitteeCraig ArmstrongStandard Chartered
Logistics CommitteeMark MillarM Power Associates
Marketing & Communications CommitteeAdam O’ConorOgilvy & Mather Group
Real Estate CommitteeJeremy SheldonJones Lang LaSalle
Scottish Business GroupJohn BruceHill & Associates
Small & Medium Enterprises CommitteeKate KellyK2PR
Strategic Supply Chain ForumDominic JephcottVendigital Limited
Women in Business CommitteeSheila DickinsonThe Fry Group
YNetwork CommitteeAlison Asome
MessageChairman’s
Brand Britain2012 was bound to be a notable year in terms of the
profile of British business in Hong Kong. Notably, the
15th anniversary of the city’s handover fell in the short
space between the Queen’s Diamond Jubilee and the
London Summer Olympic Games. There was a curious
moment during the Olympics, when Britain, China and
Hong Kong each won a medal in the women’s keirin
cycling race. Many commentators remarked that the fl ag-
hoisting podium moment was strongly reminiscent of the
handover ceremony. Perhaps underlying this was a vague
sense that besides the major events and anniversaries,
the public reaction towards Britain, not just in Hong Kong
but in China too, has undergone a radical transformation.
At the same time that Hong Kong’s media focus has
centred on issues surrounding the city’s Chinese identity,
things British have never been so popular here. From
designer clothes, to beers and spirits, to education and
entertainment – British products are selling like hot cakes.
‘Brand Britain’, as it has recently come to be known, is
a phenomenon whose reach extends far beyond Hong
Kong. In mainland China and throughout the developing
world, British luxury brands are doing a roaring trade.
Arguably, no-one understands this demand better
than the Walpole Group, which represents more than a
hundred British companies including many of the most
iconic British brands. Guy Salter, Deputy Chairman of
Walpole, distils the recent success of the British luxury
industry, ‘Probably about 15 years ago, the British brands
began to gain a larger profi le. Part of the reason for this
is the evolution and sophistication of the luxury market as
a whole. As consumers get rapidly more sophisticated,
a significant section of them want something different
from what everyone else is buying. They might be more
interested in the underlying quality and less about the
logo for example. This is what I call the ‘discernment
curve’. That has really played to the benefit of a lot of
British luxury fashion brands, many of which have been
small, dedicated operations for over a hundred years.
Having said that, some of our most successful brands,
Jimmy Choo, Bill Amberg, etc. are actually very new.
But as a whole, the British brands tend to be more
interesting, more niche, and have a more quirky feel. I
often say to people that within the UK we’re the best
kept secret growth story that the UK has. British luxury is
seeing a strong and sustained, year-on-year growth.’
So much for the luxury market. But Brand Britain seems
to go further than simply the famous names or even
products made in Britain. In every crowded market in
developing cities around the world, one can see young
people wearing Union Jack-emblazoned jeans and
t-shirts, often etched in garish pinks or ‘accentuated’
with sparkles. It is at moments like these when one
might be forgiven for thinking that Brand Britain has got
a little out of control. Yet this development of the national
symbol is not entirely an accidental one.
As the name would suggest, Brand Britain has a national
as well as a commercial intention behind it. The term
found currency in the lead-up to the Olympics, as
politicians and government advisers sought to harness
together every ounce of Britain’s world renown in order
to make a successful event. It would not be misleading
to see Danny Boyle’s opening ceremony in that light.
Including the Queen and James Bond in a helicopter
stunt was slick as well as amusing.
Britain in Hong Kong 5C ove r S t o r y 4
Events in Hong Kong are following a similar pattern.
November looks set to see a huge UKTI trade delegation
visit Hong Kong as part of the GREAT campaign. The
focus of the week of events, exhibitions and seminars
will be creativity, especially looking at fashion, luxury,
design and craftsmanship. Times Square has hosted
a major UK festival, sporting a London double-decker
bus, a traditional-looking English cottage and a red post
box. Offering information on the Olympics and other UK
events (as well as Irish Guard teddy bears), the venue
was a roaring success, visited by countless thousands
of people. Meanwhile, in
the Shun Tak Centre - site
of the Macau Ferry, a small
London Fair was installed,
which had enl isted the
help of Madam Tussaud’s
t o d i s p l a y a l i f e - s i z e
waxwork of the Queen, in
addition to a larger-than-
life Irish Guard teddy bear
and models of Big Ben
and Tower Bridge. Most
interesting in terms of the
Brand Britain concept were
the essentialised symbols
of Britain prominently displayed on pillars and glass walls.
These included an I♥UK symbol, a teapot, a bowler hat,
a pound sign and more Irish Guards. Taken together,
these events demonstrate a tremendously broad and
successful British marketing campaign.
Though by no means the first person to recognise the
power of culture in international relations, it was Joseph
Nye, American political scientist and Harvard University
professor, who coined the phrase ‘soft power’ and
greatly emphasised its importance as a component
of modern diplomacy. Alongside the ‘hard power’ of
military and economic strong-arming, he claimed, lay
an equally, if not more fruitful world of cultural diffusion -
‘soft power’. Rather as Ancient Greece, Rome or imperial
China commanded respect and economic power as
much through their culture as through their military
conquest, so America, argues Nye, won great dividends
internationally through Hollywood, Disney and Coca-cola.
This is nothing new, but the question remains as to how,
and perhaps whether at all, governments can harness or
direct that power for the sake of national interest.
For all America’s success though, Britain has by no
means been left out in the world of cultural diplomacy.
The British Council, founded in 1934, is the second
oldest institution of its kind in the world (in those days
‘cultural propaganda’ was an acceptable term), though
the Alliance française predates it by over fi fty years. The
British Council has fostered literature, art
and film for many years, its ongoing work
in the subcontinent, for instance, helping to
continue the strong relationship between
Indian writers and British publishing fi rms to
this day.
In recent years however, i t i s Br i t i sh f i lm and
entertainment which have found greater global appeal.
Where before there was only James Bond, now there is
also Harry Potter and a host of TV dramas, comedies,
talent shows, cooking programmes, and a certain
series about cars. 2012 may have been the year of the
Olympics, but it was also the year of Downton Abbey.
Purely from an investment point of view, picking one
over the other would be an easy choice; but perhaps
the key point increasingly being emphasised is that
the one helps the other. The Olympics raised Britain’s
profile, and Downton Abbey spurred people from
around the world to visit the UK, many of them during
the Olympic festival itself. Even those pink spangled
Union Jack jeans might help to attract new waves
of Manchester United fans, more viewers of the next
James Bond film (coming out in November, in case
you were unaware), and more business for British
companies of all shapes and sizes.
In short, there was method to Danny Boyle’s madness.
Throwing Monty Python, Big Ben and the NHS into the
same mix does, in fact, help to boost Britain’s economy.
For that moment at least, even the England footballers
played as...part of the team.
C ove r S t o r y
Employers often place
their employees on secondment
t o a n o t h e r c o u n t r y f o r a
period of time. If an employee
w a s s e c o n d e d t o H o n g
Kong and the employment
contract incorporates a foreign
governing law clause, does the
Employment Ordinance (“EO”)
apply?
This issue was considered in the case of HSBC Bank
PLC v Steven Andrew Wallace [2008] 1 HKLRD 613
(“HSBC v Wallace”) and has been re-visited in the
recent February 2012 case of Cantor Fitzgerald v Jason
Jon Boyer & Ors [2012] HKCU 478 (“Cantor Fitzgerald
Case”).
HSBC v Wallace
Mr. Wallace was an employee who was offered
employment by HSBC Bank Plc. (“HSBC”), a company
incorporated in England upon the understanding that he
was to be immediately placed on secondment to Hong
Kong.
His employment contract provided that he may terminate
his employment by giving 6 months’ written notice.
Mr. Wallace later resigned and accepted a position
at another bank. HSBC confirmed his last date of
employment to be 6 months after his resignation date.
Mr. Wallace decided to shorten his notice by making a
– DOES HONG
payment in lieu of notice equivalent to his wages for the
remaining balance of the notice period by relying upon
EO s.7 to bring forward his termination date. EO s.7
provides that either party to an employment may “at any
time” terminate the contract without notice by agreeing
to pay the other party a payment in lieu.
HSBC argued that the EO had no application as the
employment contract was governed by English law.
There was no equivalent statutory right to buy out one’s
notice under English law under the circumstances.
Mr. Wallace argued that the EO applied, given the terms
of EO s.4, and that he was employed to work in Hong
Kong, and thus had its closest and most real connection
with Hong Kong.
EO s.4(1) provides that the EO applies to every
employee engaged under a contract of employment,
to an employer of such employee and to a contract of
employment between such employer and employee.
Mr. Wallace further argued that an express choice of
law other than that of Hong Kong cannot be used to
exclude an employee’s right to invoke EO s.7, by virtue
of EO s.70 which provides that any term of a contract of
employment which purports to extinguish or reduce any
right, benefi t or protection conferred upon employees by
the EO shall be void.
The Court held that parties to employment contracts are
entitled to choose the governing law, thus there was a
presumption that English and not Hong Kong law applied.
However, the Court also stated that the presumption may
Catherine Leung
B u s i n e s s
G KONG LAW APPLY ?
be rebutted if Mr. Wallace could establish that the parties
had no connection with England and that the invoking of
English law was a device artifi cially introduced to exclude
EO protection. It was held that the presumption that
English law applied was not rebutted.
Cantor Fitzgerald Case
In this case, the Court held that notwithstanding the
fact that an employment contract incorporated a foreign
governing law clause, Hong Kong law may nonetheless
apply.
Four former employees of Cantor Hong Kong and Cantor
Fitzgerald Europe (“CFE”), a capital markets investment
bank (collectively, “Cantor”), resigned and joined a start-
up brokerage house in Hong Kong.
D1 was seconded from CFE to Cantor Hong Kong. His
employment contract with CFE was subject to English
law. Under D1’s employment contract, he was entitled to
terminate his employment by providing 4 months’ notice.
His employment contract was varied by a letter of
secondment which provided that his employment was
governed by English law “…save for any mandatory
employment laws of Hong Kong”.
D1 sought to terminate the employment pursuant to EO
ss.6 and allowing him to terminate the employment by
providing notice and to make a payment in lieu of notice
to CFE at anytime. D1 argued that EO s.70 nullified
any term of a contract of employment which purported
to extinguish or reduce any right, benefit or protection
conferred upon an employee by the EO. In light of EO
s.70, D1 argued that EO ss.6 and 7 must be regarded as
mandatory laws of Hong Kong.
Relying upon HSBC v Wallace, Cantor argued that
D1’s employment was subject to English law and that
there was no reason to apply Hong Kong law which
overrode the express terms relating to the termination
of D1’s employment. The Court did not agree with the
reasoning set out in HSBC v Wallace and explained the
difference in approach was due to the fact that the Judge
in HSBC v Wallace did not have the benefit of hearing
the full argument on the question as the Judge was only
drawing a preliminary conclusion in an application of an
interlocutory injunction (until the Cantor Fitzgerald case
which was a full hearing). The Court held that EO ss.6
and 7 must apply as part of the “mandatory employment
laws of Hong Kong”, and that one cannot choose a
foreign law to get around the protection afforded by
the EO to employees working in Hong Kong (as such
an attempt would be struck down by EO s.70). The
Court held that EO ss.6 and 7 must apply as part of
the “mandatory employment laws of Hong Kong”, and
that one cannot choose a foreign law to get around the
protection afforded by the EO to employees working in
Hong Kong (as such an attempt would be struck down
by EO s.70). The Court held that D1 should be allowed
to rely upon EO ss.6 and 7 to make a payment in lieu of
notice for the agreed period in the employment contract.
The two cases may be distinguished upon the basis that
in the Cantor Fitzgerald case, there was a secondment
letter which expressly varied the UK governing law
clause to allow “any mandatory laws of Hong Kong to
apply”, whereas no similar provision was included in the
secondment letter in HSBC v Wallace.
Practical Implications
Employers should be aware that notwithstanding the fact
that an employment contract expressly incorporates a
foreign jurisdiction and governing law clause, Hong Kong
law may nonetheless apply to secondees working in
Hong Kong. Employers may not be able to by-pass the
EO by choosing a foreign law as the governing law of the
employment contract, as to do so may be considered as
contracting out of the EO, which is not allowed.
“Howse Williams Bowers is a new,
independent Hong Kong law fi rm. Our
key practice areas are commercial and
maritime dispute resolution, clinical
negligence and healthcare, insurance
and professional indemnity insurance, corporate
commercial and corporate finance, employment,
matrimonial and intellectual property. The HWB partners
and their teams have an excellent reputation for delivering
high quality advice with a practical and commercial
approach to solving legal issues in line with clients’
commercial objectives.”
Disclaimer: The information contained in this article is intended
to be a general guide only and is not intended to provide legal
advice. Please contact catherine.leung@hwbhk.com if you have
any questions about the article.
Secondment of Employees
to Hong Kong
Catherine Leung
Senior Associate, Howse Williams Bowers
Britain in Hong Kong 98
As the world’s societ ies age,
governments and businesses are
trying to look ahead and anticipate
the needs of tomorrow’s growing
elderly populations. Nowhere is this
more diffi cult to do than in emerging
East Asia. It is not just that the region
is due to age so dramatically, but also
that the rapid pace of development
is transforming retirement attitudes
and behaviour.
P r u d e n t i a l h a s b e e n h e l p i n g
individuals and families in Asia plan
for their future and protect their long-
term fi nancial well-being for over 88
years. In order to better understand
the new chal lenges facing the
region, Prudential plc partnered with
the US-based Center for Strategic
and International Studies (CSIS) in
2010 to work on a multi-year Global
Ageing Preparedness Project.
The latest study under this project
was released in July 2012 entitled
“Balancing Tradition and Modernity:
T h e F u t u re o f R e t i r e m e n t i n
East Asia”. The report examined
re t i r e m e n t e x p e c t a t i o n s a n d
behaviours in six of East Asia’s
emerging markets, surveying a
wide cross-sect ion of workers
and retirees. The report provides
powerful insights that are not only
useful to policymakers concerned
about how best to prepare society
for the aging challenge, but also
Balancing Tradition and Modernity:
The Future of Retirement in East AsiaContributed by Prudential Corporation Asia
to businesses looking to design
retirement products for varying age
groups in different countries.
The countries covered by the CSIS
study were China, Hong Kong,
Malaysia, South Korea, Taiwan, and
Singapore. The picture that emerges
from the survey is one of societies
in the midst of a breathtak ing
transformation. Birthrates have
plummeted and families have shrunk.
Affluence, educational attainment,
and familiarity with markets are rising.
And huge generational fissures are
opening up between younger and
older generations.
Dr Richard Jackson, Director and Senior Fellow of the Washington-based CSIS, presented the findings of his report at a luncheon co-organised by the British Chamber of Commerce and Prudential Corporation Asia in July 2012. Several Chamber members were in attendance.
A summary of the report’s key
fi ndings are outlined below
Key fi ndings:
• The traditional “Confucian ethic”
expectation that families themselves
wi l l p rov ide for the i r e lder ly
members is under unprecedented
pressure. Only small minorities
(from a low of 4 percent in China to
a high of 22 percent in Singapore)
believe that grown children should
be responsible for the retirement
income of their parents.
• There i s s t rong suppor t fo r
i n d i v i d u a l s t a k i n g g r e a t e r
responsibility for financing their
own retirement. In most countries –
China and Malaysia are exceptions
– people prefer personal savings-
based retirement provision to
government provision.
• For today’s elderly, retirement can
be a time of economic hardship.
Retired respondents in all of the
countries worry a great deal about
B u s i n e s s
• There is considerable support
in Hong Kong fo r ind iv idua l
respons ib i l i t y fo r re t i rement
i n c o m e . F o r t y p e r c e n t o f
respondents believe that retirees
themselves should be mostly
responsible for providing their
own ret i rement income. This
is somewhat larger than the
share supporting government
responsibility (37 percent) and
much la rger than the share
supporting family responsibility (12
percent).
• The MPF g i ves Hong Kong
a large re lat ive advantage in
preparing for the aging of its
population. Although Malaysia
and Singapore also have savings-
based retirement systems, Hong
Kong’s privately managed system
is the only one that earns a market
rate of return. The main challenge
facing Hong Kong is that the
MPF’s targeted replacement rate
of 30 to 40 percent is too low to
support an adequate standard
of living in retirement—and that,
despite their growing market-
orientation, today’s workers are
not saving enough on their own to
make up the difference.
For more information, contact:
harsha.p.harjani@prudential.com.hk
For access to the full report, visit:
http://gapindex.csis.org
becoming “a burden on their
children” (40 to 85 percent), being
“poor and in need of money” (30 to
85 percent), and being “in ill health
and having no one to care for
them” (50 to 80 percent).
• Although retirement prospects
are improving for members of
today’s working generations, most
are still not adequately prepared.
Gaps in pension coverage and
low replacement rates mean
that government and employer
retirement systems are unlikely to
meet their needs—and very few
are saving enough on their own to
ensure a decent standard of living
in retirement.
Key fi ndings specifi c to Hong
Kong:
• For today’s ret i rees in Hong
Kong, retirement can be a time
of economic hardship. Fifty-nine
percent report that they have “a lot
less income” than while they were
working. Just 7 percent report that
they have more income. The gap
between the income of the old and
the young is also one of the largest.
While the median income of young
adults aged 20-39 is 150 percent
of the median for all households,
the median income of adults aged
60 and over is just 49 percent.
• The rate of pension receipt in
Hong Kong is still relatively low.
Just 63 percent of current retirees
report receiving a benefit from the
Mandatory Provident Fund (MPF).
Meanwhile, the dependence of
retirees on the extended family is
the highest of any survey country.
Forty-two percent of current
retirees report receiving more
financial support from their grown
children than they provide to them,
while just 4 percent report providing
more than they receive.
• The outlook for tomorrow’s retirees
is much brighter. The expected
pension receipt rate among current
workers rises to 90 percent—the
highest rate of any of the survey
countries. The survey also reveals
an astonishing increase in the
expected receipt rate for all types of
asset income. Seventy-fi ve percent
of young adults aged 20-39 expect
to receive income from insurance
or annuities in retirement, while 66
percent expect to receive income
from stocks or bonds — the highest
share of any survey country.
Britain in Hong Kong 1110
The Benefi ts of Businesses in
What Is An Internship?
An internship is essentially about
work experience for young people
— be they school leavers, university
students or recent graduates. Where
internships were once an informal
means to gain practical insight into
a particular career field, today they
are regarded as part of students’
education and an important rung on
the ladder to success, because an internship can add as much
gravitas to a CV as a degree. In fact, students who are not
using their university holidays for internships are far less likely to
secure a decent permanent job when they leave university.
What Are The Benefits Of Internships For
Businesses?
There are clear business benefits to hosting an internship,
not least because the host company gains an additional and,
typically, motivated member of staff who is eager to leave an
impression.
The youth of today tend to be tech-savvy and through their
studies are also aware of the latest trends in, for example,
management, marketing and social media. This enables
them to bring new skills, ideas and perspectives, which have
the potential to improve productivity within an organisation
— all with minimal fi nancial cost to the business, especially if
the internship is unpaid.
The internship may even lead to good publicity for a host
company if the intern enjoys the experience and tells others
about it.
Some businesses habitually use internships as part of their
recruitment strategy, because they offer an opportunity
to trial out candidates before offering them a permanent
position.
However, in order to reap the benefits of internships, it is
important for host companies to ensure that internships are:
• structured with a work plan;
• advertised appropriately (the job description should detail
the intern’s expected tasks so that it attracts the right
candidates); and
• managed and supervised by a mentor with sufficient
industry experience, who can provide constructive
feedback to the intern.
It is also worth arranging a proper introduction to the
company at the start to enable the intern to integrate quickly.
Internships are becoming part and parcel of Hong
Kong’s modern, fl exible economy and are benefi cial
not only for the interns themselves but also for the
businesses which host internships.
Samantha Cornelius Managing Director StandOut Internships (HK) Limited
B u s i n e s s
28064_BCO_Sept.indd 1228064_BCO_Sept.indd 12 12年9月18日 下午4:5912年9月18日 下午4:59
Internships forHong Kong
What Tasks Can Interns Do?
If an internship is to be beneficial to both the business
and the intern, it is imperative that the intern is given the
opportunity to carry out diverse and meaningful tasks, attend
business meetings and shadow employees. Interns should
therefore not be asked to carry out basic administrative
or menial tasks any more than other employees would be
expected to do so.
An effective way to find meaningful tasks for interns is to
consult colleagues and heads of departments in advance
to find out if they have any specific projects, which they
consider an intern could contribute to. If one big project
does not stand out, or none of the departments feels they
can offer a sufficient workload by themselves, an intern’s
workload could be spread across a number of different
areas. This would give the intern a broader view of the
organisation and a range of learning and development
opportunities.
Internships — Paid v. Unpaid?
Students, understandably, prefer paid internships and,
where possible, businesses should consider a budget for
offering paid internships (at the minimum wage or above)
and covering work-related expenses incurred by the intern,
including travel to and from work and whilst attending
external meetings or events.
It is, however, possible and perfectly legal to offer unpaid
internships, although there are restrictions under Hong
Kong’s minimum wage legislation, which companies need to
be aware of when hosting unpaid internships.
Where an internship is unpaid, the quality of the work
experience is the most important factor for the intern, as
the short-term economic costs of an unpaid internship can
often be offset by the long-term advantages to the intern’s
career.
About StandOut Internships (www.standoutinternships.com)
At StandOut Internships we manage an active
database of students from Hong Kong and around
the world who are looking to do internships in Hong
Kong. We interview all our applicants and match
candidates to host companies based on their job
descriptions and candidate requirements. We have
a qualified employment lawyer on the team who can
advise companies how to structure unpaid internships
in accordance with Hong Kong’s minimum wage
legislation and arrange visas for interns from abroad. If
you would like to fi nd out more about the services we
offer when sourcing interns for your business — without
any charges payable by your company — please email
Samantha Cornelius, Managing Director of StandOut
Personnel Limited on sam@standoutinternships.com.
Britain in Hong Kong 1312
Over the past few years, the increase in the use
of the Internet and the emergence of smartphones,
tablets and other mobile devices together with the
acceptance and growth of cloud computing has seen
the volume of data produced by consumers on a daily
basis grow at an exponential rate. This growth is not
just linked to consumer behaviour either, as enterprises
too are working with record levels of data. For example,
companies in the financial and medical field or in the
media industry are increasingly producing huge amounts
of data, all of which needs to be securely accessed and
stored in a safe location.
This has resulted in a pressing need to build and maintain
high-tier data centre facilities and as an increasing
number of multi-national enterprises look eastward for
future business growth, this demand is never more acute
than in Asia today. Data centres are critical to enabling
businesses to run their operations and in many cases
can help a company to secure a competitive advantage
over other players within their industry. However,
deploying and maintaining them can be expensive and
is increasingly complex, as more systems are merged
or integrated into each other. A data centre strategy has
to be carefully planned, as many factors come into play
both when deciding where to house a data centre and
ensuring that it delivers the best possible results for an
organization.
Opinion: Five ReasonsWhy Hong Kong is an Ideal Data Centre Hub for Asia
Data centres cannot be built just anywhere, as restrictions
around access to suitable land means only certain
locations are available, whilst the cost of operation and
maintenance means certain sites are not cost efficient
to house them. EC Harris, a built asset consultancy that
advises enterprises on how to plan for, build and maintain
data centres, has found that Hong Kong is an excellent
location for developing them.
There are several key advantages that make Hong Kong
an ideal choice to build a data centre:
1 Environment: Unlike many other places in Asia,
Hong Kong does not have a high risk of massive
natural disasters, such as earthquakes or tsunamis.
In fact, recent research rated Hong Kong as the
least risky market in Asia and 7th least risky location
across the world in which to build a data centre.
2 Power: Hong Kong’s utility power systems are
extremely reliable and do not suffer from major
outages or brown outs. Continuous availability of
power is very important, particularly for operators
supporting medical or financial services sector
that need continuous access to ‘mission critical
data’. Data centres also require large amounts of
power both to operate and to keep them cool and
fortunately, electricity in Hong Kong is relatively cheap
Stephen Hilton
Head of Critical Systems, EC Harris Asia
B u s i n e s s
compared to other markets. Furthermore, there is
continued investment in the electricity grid to improve
the standard of the power supply.
3 Data privacy: Many enterprises also need to
maintain certain levels of data privacy and in this
respect, Hong Kong is an attractive location, as
the freedom of information laws and effective data
protection enable organizations to protect the privacy
of the content stored and handled in their data
centres. The Hong Kong government will not try to
access it, as opposed to the governments in some
other markets across Asia.
4 Telecommunication cables: Hong Kong is a major
hub for international cable networks (nine submarine
cables and 17 overland cables) that provide secure
and low-latency international telecommunication and
data connectivity. These undersea cables, which
carry huge amounts of information across the ocean,
are very reliable and are not at risk of seismic activity,
which makes it a much safer natural environment.
5 Gateway to China: A key route to China, Hong
Kong is an ideal place to house data centres as
it offers enterprises that want to penetrate China
relatively close proximity to that location. Very much
like shipping cargo and money commonly fl ows into
China via Hong Kong, this market is a good place for
data services for companies looking to do business
in the Mainland.
The Hong Kong government is very aware of the
importance of housing data centres and has taken action
to help make the S.A.R. into Asia’s data centre hub.
However, there is still progress to be made. For example,
the number of sites designated as locations where data
centres can be built remains scant. There is also a lack of
suitable green fi eld sites and buildings for data centres,
and current restrictions can still make the process
onerous. To overcome these challenges, the government
has set up a Data Centre Facilitation Unit to assist
operators to fi nd and build new facilities. The government
has also introduced a scheme that offers incentives and
wavers to developers who choose to build high class
data centres.
Another challenge for the data centre industry is a
shortage of experienced data centre professionals —
not just in Hong Kong but across the world — who
are able to enter the data centre workforce with ease.
There are no, or few, college degrees with data centre
specific modules, and in many cases, the only way to
get skilled workers in this area is to hire experienced data
centre workers or to take graduates with mechanical
or electrical degrees and then induct and train them to
manage the complex and integrated support systems
that are required to operate a data centre. Training and
development is essential to ensure that the high level of
support required is available.
The big data phenomenon and the ant ic ipated
continuation of data proliferation mean that data centres
today have become critical to a company’s success and
competitiveness. Hong Kong is an ideal location in Asia
for data centre deployments for both local companies
and international ones that seek to penetrate the Chinese
market. However, issues remain and shortages in skilled
labour as well as limited locations for building or housing
data centres remain big challenges that must be overcome
if this opportunity is to be fully realised and Hong Kong is
to become Asia’s data centre Hub.
Britain in Hong Kong 1514
It has been forecast that there would be strong demand
for new aircraft through 2030, predominantly driven
by emerging markets. It is estimated that 40% of the
world’s commercial fleet will be based in Asia Pacific
by 2030 with an expectation that China alone will be
operating more than 5,500 aircraft. As a result, many
aircraft lessors are considering developing an Asian
aerospace hub, outside the traditional jurisdictions like
Ireland and the US, to capture this potentially lucrative
opportunity.
Critics have often commented that the options will be likely
Hong Kong, Singapore and China. Indeed, Singapore
has taken a major step to provide a more favourable tax
regime and policy incentives for aircraft lessors to set up
their operations in Singapore.
For Hong Kong to compete in this industry, it is paramount
that the Government should revisit the existing tax rules
and policy incentives to enhance the overall business
environment for aircraft lessors intending to operate in
Hong Kong. This would not only help Hong Kong maintain
its competitiveness as Asia’s key transportation hub, but
also further strengthen our position as a major international
fi nancial centre.
Key issues to note:
• Aviation Industry is forecast to be a growing industry in
Asia, in particular China
• Aircraft leasing has become an extremely important
source of funding for this industry
• Hong Kong has a special relationship with China and
is seen as the gateway to do business in China
Hong Kong as a New Transportation Hub
• Singapore has already taken a major step to
provide a competitive tax regime and incentives for
aircraft lessors
• With appropriate tax rule changes and added policy
incentives, Hong Kong can utilise its unique position
as the gateway to China to attract aircraft lessors to
set up their operations in Hong Kong, thus generating
additional tax revenues and further strengthening the
position as a major international fi nancial centre.
In a recent interview with the Financial Times, the new
Chief Executive, Mr C Y Leung, was quoted as stating
that the Government will do more to help local industries
by using some of Hong Kong’s fiscal reserves which
currently stand at well over six hundred billion Hong Kong
dollars. Although Mr Leung did not provide specifi c details
as to how the Government would add impetus to the
Hong Kong Economy, he did mention Singapore’s use of
tax incentives to shore up its shipping industry, and set
its sights on overtaking London as the centre for shipping
services.
What the Chief Executive actually has in mind with regard
to the above statements remains to be seen. It might be
that he and the Government will explore the idea of further
strengthening Hong Kong’s position as a transportation
hub in Asia. To tap into this opportunity, it is paramount
that the Government explores the possibilities with an
open attitude and considers any policies changes which
would help achieve such a goal. Fiscal issues, along
with infrastructure, education and training, environmental,
telecommunications and legal framework are among the
key policies which the Government should consider in
a coherent and coordinated manner when considering
encouraging any particular business sector.
Rex Ho, PwC Hong Kong Tax Partner,
Clarence Leung, PwC Hong Kong Tax Director
B u s i n e s s
With regard to the transportation industry, particularly the
shipping and aviation sectors, fi nancing of the assets is a
key consideration and should be specifi cally addressed if
the industry is to be encouraged. Essentially, the fi nancing
of these big-ticket items is either by (i) purchasing the
assets outright using loan financing or (ii) leasing the
assets. The decision of whether to buy or lease such
an asset is largely made on the basis of cash outflows;
however, other factors such as residual value of the assets,
replacement circle, technology obsolescence, repairs
and maintenance and fl exibility of the lease terms are also
of key importance and should form part of the business
decision making process. The last of these factors can
be very important as the cash investment requirements for
outright purchase of aviation and shipping assets are often
prohibitive for smaller companies, so acquisition under
fl exible lease arrangements can be a much more attractive
option.
According to Boeing, less than 1% of the global air fl eet
was leased forty years ago, but the fi gure is approximately
40% today. Aircraft lease fi nancing has come a long way
and become an important method to fi nance aircraft. With
the rapid growth in aircraft lease fi nancing, it has come the
development of favoured jurisdictions for the conduct for
such business.
In this regard, Ireland has the biggest aviation leasing
industry outside the United States, with nine out of the
top 10 aircraft lessors operating there. The Federation
of Aerospace Enterprise in Ireland (“FAEI”) published a
survey a few years ago to demonstrate the contribution
of the aviation leasing industry to the Irish economy. This
was perhaps the first time that a country carried out
such a survey in relation to aircraft leasing. According
to the survey, the aircraft leasing industry delivered over
€300 million in taxes to the Irish Government. It was also
interesting to note that 97% of the respondents stated that
tax was a critical consideration in choosing to locate their
business in Ireland.
Despite the economic downturn in the last few years and
the continued problems in the Eurozone market which
has an impact on the world-wide economic recovery,
China has been picking up on domestic consumption
over the past few years. The rapidly expanding affluent
individual sector in China has fuelled the demand for both
private and commercial air transport, leading to a surge in
aircraft fi nancing activities in China. It is clear that many
leasing companies are operating in China even though the
regulations and the tax law in China for leasing are both
very complicated and unclear. Therefore, it is difficult to
apply the same set of rules that are well tried and tested
in other jurisdictions when it comes to leasing in China.
Apart from the indirect tax burden on VAT (potentially up to
17% under the VAT pilot program in Shanghai) or Business
tax (5% on gross lease rentals or interest income), the
corporate income tax rate in China is 25%. Therefore,
the overall tax burden for aircraft leasing businesses
in China is significantly higher than other major leasing
centres, including Ireland. Additionally, withholding tax is
generally still applicable to lease rentals under the double
taxation treaty agreements signed between China and
other countries. These factors further hinder the progress
in developing the leasing industry in China, particularly in
relation to big ticket assets such as aircraft and ships.
However, the penetration rate of leasing in China is
merely 3% compared to the average rate of well over
17% in Europe or 10% in Japan. Given that China is
now the second biggest economy in the world and
has a rapidly increasing demand for air travel (with an
expectation that it will operate 5,500 commercial aircraft
by 2030), but a low penetration rate in the leasing
market, it is clear that there are potentially very lucrative
opportunities for aircraft lessors, particularly if the high
tax burden imposed under the current tax law can be
addressed.
Leaving China aside which is a special case on its own,
it appears that Singapore has caught up with Hong
Kong and has grown as a global transportation centre
and a leading international maritime centre. Critics have
indicated that this was due to the general features of the
tax system as well as the targeted tax incentives. Whilst
this may be true, it is also important to appreciate that
Singapore has also other incentives such as international
aircraft leasing incentives and offshore leasing incentives.
Although the head line tax rate in Singapore is 17% which
is higher than Hong Kong’s 16.5%, companies engaging
in approved aircraft leasing companies could enjoy a
tax rate of either 5% or 10%. All these policy incentives
demonstrate that the Singapore Government is committed
to appealing to international aircraft lessors to base their
Asian operations in Singapore, which is clearly working to
the detriment of Hong Kong.
Given Hong Kong’s unique position with regard to
Mainland China, as wel l as i ts mature f inancia l
environment, stable political environment and well
developed legal system, international aircraft lessors
looking to do more business in Mainland China naturally
consider setting up in Hong Kong. Nonetheless,
although Hong Kong is still seen as a gateway to China
and is one of the major cities in Asia for doing business,
the current Hong Kong tax rules on aircraft leasing
generally make it an unattractive location for aircraft
leasing to non-Hong Kong airlines. As such, we have
recently observed that more and more aircraft leasing
companies are looking to build their Asian presence in
Singapore and mainland China, rather than Hong Kong.
Accordingly, in order for Hong Kong to compete in this
potentially lucrative business in relation to the expanding
aircraft market in China and Asia-Pacifi c, it is necessary
that the Government enhances the policy environment
for international aircraft lessors in Hong Kong. Any
expansion of this sector in Hong Kong would not only
generate additional tax revenues for Hong Kong, but also
additional associated business activities which would
have benefi ts for the overall Hong Kong economy.
Britain in Hong Kong 1716
On 10 May 2012, the British Consulate-General Hong Kong launched the international GREAT Britain campaign
in Hong Kong with an exclusive event to celebrate the
long-standing partnership between the UK and Hong
Kong and to showcase British creativity and innovation
talent. Following events in New York, Rio and Tokyo, the
GREAT campaign aims to raise international awareness of
the multi-faceted appeal of the UK, attracting an extra 4
million visitors and a £1 billion boost for business over the
next four years.
Prime Minister David Cameron is spearheading the
country’s biggest-ever overseas campaign to boost
worldwide awareness of the UK as a GREAT place for
business, investment, tourism and study. The Foreign
Office, UK Trade & Investment, British Council and Visit
Britain are working closely on this impressive campaign to
reach a wide audience across the world.
British Consul-General to Hong Kong Andrew Seaton
said, “The relationship between the UK and Hong Kong,
already so important, continues to grow and develop.
Our partnership in the fields of creativity and innovation
are an increasingly important part of that mix. Many UK
designers draw creative inspiration from the vibrancy of
Hong Kong. For their part, Hong Kong people appreciate
what the UK has to offer in the fi elds of fashion, design,
food and technology. In recent years we have seen classic
and innovative British brands work with local partners
to achieve significant success here; and likewise many
Hong Kong businesses with global ambition have been
establishing a footprint in the UK.”
“The choice of Hong Kong as a GREAT campaign city
is a sign of how important it is to the UK. I am looking
forward to deepening relationships across the board.
2012 will be a chance for people across the world to re-
discover GREAT Britain and see with fresh eyes the vibrant
opportunities there for business, investment, leisure and
education,” Seaton added.
The Great event brought together future leaders, business
figures, local and international celebrities and young
entrepreneurs, in a theme of red, white and blue. Luxury
fashion designer Julien Macdonald showcased some of
his latest collection while Head Chef of Trinity restaurant
Adam Byatt serves modern interpretations of traditional
British cuisine, offering guests a taste of the creativity that
the UK has to offer.
The star-studded event also welcomed other visiting UK
figures including interior designer Kelly Hoppen, Hong
Kong-born Olympic torchbearer Steven Cheung and
gallery owner Michael Hoppen, a leading light in the world
of photography. British cirque group Tumbellina entertained
the guests with a breathtaking performance of acrobatics.
Announced by Prime Minister David Cameron in New York
in September 2011, the GREAT campaign has so far been
launched in 9 countries. These include the USA, Germany,
France, India, China/Hong Kong, Japan, Canada, Brazil
and Australia. Focusing on 17 key cities it aims to reach
over 80 million people through integrated platforms across
advertising, public relations, partnership/celebrity activity
and city-based events.
UK celebrities such as Sir Richard Branson, Vivienne
Westwood, Lily Cole and Victoria Beckham have signed
up as GREAT Ambassadors to support the initiative,
showcasing the breadth and depth of British talent and
with the common goal of inviting people to take a fresh
look at everything the UK has to offer.
GREATCampaign Launches in Hong Kong Campaign Launches in Hong Kong
B u s i n e s s
The GREAT Week of Creativity
From 5-11 November 2012, UK Trade & Investment will
be hosting a series of events, exhibitions and seminars in
Hong Kong, showcasing the explosion of innovation and
talent coming from the UK.
The aim of the week is to celebrate all that is GREAT about
Creativity with a focus on Fashion, Luxury, Design and
Craftsmanship.
The week will give a concise and in depth look at British
creativity, exploring issues at government and trade
level as well as engaging the general public through the
provision of cultural and educational events, open to all.
The outcome will be an exchange of ideas and knowledge
and to start a dialogue of how the UK and Hong Kong
creative communities can support and bolster each other
in a Global environment.
The focus is on the best quality of design; curation and
UK Trade & Investment will be working closely with leading
organisations to provide the best quality content to the
Hong Kong audience.
The British Government is working closely with Walpole,
the British Fashion Council, London Design Festival
and the Crafts Council to provide relevant and powerful
programmes with the best talent and expertise visiting
Hong Kong for the week.
The week will begin with a high profi le launch event that
will be hosted by the key organisations participating in the
week. Walpole will be awarding their coveted medals to
key industry fi gures from Hong Kong and a VIP audience
is expected to attend from both Hong Kong and other
areas of the Asia Pacifi c region, highlighting Hong Kong’s
role as a platform and springboard into the wider region.
Visiting companies and trade organisations will hold
collection previews and press days at the start of the
week, all of which will be publicised through a specially
developed mobile application that press and buyers can
register for, giving access to invite only events over the
week to registered users.
While still being confirmed UK Trade & Investment is
expecting up to 250 of the best British creative companies
to be attending Hong Kong over the week, one of the
largest trade missions ever undertaken.
To take advantage of the expertise and talent visiting
Hong Kong a huge project is being undertaken with local
educational institutions and creative hubs. Over the week
a series of lectures, workshops, seminars and master
classes will be taking place, all with the aim to give free
access to both the current and next generation of creative
talent here in Hong Kong. Work experience and CV
building opportunities are at the forefront of what the week
is looking to achieve.
Details of all the activities over the week will be uploaded
onto UKTI’s free mobile app and website so that there is a
central place to search for events and apply for tickets.
UK Trade & Investment is working with existing local
companies such as department stores and malls to have
high impact public and consumer facing events. The
organisers are working to bring out new companies for
one off availability, pop up shops and special projects
to raise awareness and generate additional business
opportunities for participating companies from both the
UK and Hong Kong.
There are many opportunities to get involved; from
sponsorship through to organising and participating in
relevant or individual events. For more information on
how you can participate in the Great Week of Creativity
you can contact the event organiser Kate Strutt at
kate.strutt@fco.gov.uk.
Britain in Hong Kong 1918
Martin Rimmer,
Head of Tax – Asia Pacifi c, The Fry Group
LEAVINGHOME
Many British families arrive in Hong Kong over
the summer all in good time for the start of the new
academic year. If this is you, congratulations! You have
just landed in what is probably the best place in Asia to
be a working expatriate!
Yet, as you know, moving countries is a real upheaval and
even if your employer provides relocation assistance, there
is no getting away from the fact that a huge amount needs
to be done in preparation for the move – not to mention
arriving here, settling down, finding a home and then
getting on with the business of performing in a new role.
One of the things that tend to be neglected is the matter
of personal taxation. So, having successfully helped
thousands of people to ensure that their expatriate lives
are structured as tax-efficiently as possible, I thought
it would be helpful to set out a few thoughts on the
implications of leaving the UK from a tax perspective,
what you need to do and be mindful of.
Firstly, you need to tell HM Revenue & Customs. This
is very simple, and can be done by fi ling the Form P85.
This form lets the Revenue know when you left, how long
you expect to be abroad and one or two other details.
You can download this from www.hmrc.gov.uk and you
should send it back to your local tax office in the UK.
There is no deadline for submitting this form. You will not
be held to your answers, though obviously you need to
complete the form carefully.
Secondly, if you will be letting your property in the UK,
you will need to file the Form NRL1 (again, visit www.
hmrc.gov.uk). Application into the Non-Resident Landlord
Scheme will ensure that your rental agent does not deduct
income tax from your rental income. The profi t from your
rental is still subject to tax, but that is only picked up when
your tax return is completed – if you need one.
Third, if you are paying into a personal pension scheme
in the UK, let your pension provider know that you are
moving abroad. You may still be able to contribute,
though at much reduced levels. The rules are complex
and further advice is likely to be needed.
Fourth, you may need to continue to file a tax return.
Indeed, most departing expatriates are entitled to tax
refunds in the year of departure. It would be well worth
checking with us what your position is, and whether you
are going to need to continue to file - we can file tax
returns for you. In any event, it is wrong to assume that
you need only fi le a tax return if HMRC sends you one –
B u s i n e s s
the truth is that it is up to you to fi le if you need to, even if
HMRC is silent.
Fifth, moving to Hong Kong is not going to save you
a penny in UK tax unless you ‘break residence’ from
the UK. This means that you will need to meet certain
conditions and if you have left the UK over the summer,
at a bare minimum you would need to ensure that:
• You have stopped living in the UK and have started to
live in Hong Kong,
• You are engaged in continuous full-time overseas
employment until at least 6th April 2014, performing
minimal duties in the UK
• You spend less than 91 midnights in the UK on
average per UK tax year from the point of departure
The rules are actually quite a bit more involved than this
and will be changing quite dramatically on 6th April 2013
in any case. So, if you have not already taken advice,
I would recommend that you do so. The vast majority
of British people who leave the UK to work abroad
do achieve non-resident status, but it is important to
understand the ‘trigger points’ at which the status might
be endangered. There are also separate conditions which
need to be met in order to escape the UK capital gains
tax system. Your exposure to Inheritance Tax on world-
wide assets is unlikely to change as a consequence of
moving abroad.
Sixth, if you can break residence from the UK, your
earnings and all other non-UK sources of income would
be exempt from UK taxation. Most continuing sources
of income arising in the UK remain taxable, though most
can continue to benefi t from standard tax allowances.
Seventh, once you have left the UK, you are no longer
allowed to contribute to ISAs. You can keep the plans
you already have, but you cannot continue to fund them.
This is not a problem, as you can make investments
outside of the UK without having to pay income tax
provided that you are safely non-resident. There is a
vast array of savings and investment options which are
available to you, though real care is needed to ensure
that you select investments and providers wisely.
Cold-calling is rife here in Hong Kong, as is the use of
contractual regular savings plans. These are typically
sold as ‘pension plans’ (though they are not recognized
in the UK as ‘pensions’ in the true sense of the word). As
investment vehicles, they are fi ne and there is no reason
why a properly thought through investment strategy
could not work well for you. However, the contracts tend
to be very expensive with long ‘tie ins’ and high surrender
penalties. We think that there are much cheaper and
more fl exible solutions. The watch word is simply to be
vigilant and to ensure that you are fully aware of the cost
and terms of any product before you buy.
Many expatriates have bad initial experiences, but that
does not need to be the case. Find a provider who
you can trust, who provides expertise across many
disciplines, who is properly regulated by the SFC as
well as by the FSA in the UK and who is completely
transparent about terms and charges – what you will pay,
what the adviser will receive and the period of over which
charges are due.
Finally, seek advice! Leaving the UK provides a
wonderful opportunity to shake off a higher tax regime
and to move into a low-tax environment which does tax
most forms of investment income and gains. However, it
is rare for these advantages to be obtained ‘by default’.
It would certainly be worth taking formal advice on your
position and to ensure that you fully understand how you
can profi t tax-wise from your time in Hong Kong.
The Fry Group provides UK taxation, fi nancial planning,
pension planning, UK will writing and inheritance tax
planning for British expatriates in Hong Kong. Our
office is located at #20-05 Tower 1, Lippo Centre, 89
Queensway, Hong Kong – Tel, 2526 9488. We offer an
initial consultation without charge or obligation and are
the trusted partner to thousands of British expatriates in
Hong Kong and around Asia. www.thefrygrouphk.com
The Fry Group can help in all of the areas highlighted
in this article, as well as many more! If you have any
questions or would simply like to chat through your
own situation, please do not hesitate to contact
myself, or James Sutton in the Hong Kong office
info@thefrygrouphk.com
Britain in Hong Kong 2120
When looking for similarities between London and Hong
Kong, you might normally expect
to compare their statuses as
the traditional financial centres
of Europe and Asia, their roles
as regional bases for major
international corporates and
retai lers, and of course their
importance as regional transport hubs and must-see
destinations for tourists.
You might be surprised for me to suggest that London
could also be considered as an emerging commercial real
estate market. As one of the biggest and most dynamic
economies in the region, it is continually expanding
its ‘core’ to encompass the growing requirements of
its population and businesses. I will leave aside the
comparison with Hong Kong for the moment and we can
return to it a little later.
As host for the 2012 Olympic Games, London’s venue for
the Olympic Park in the East End has undergone a major
regeneration programme since the city was awarded the
games on 05 July 2005. Over the past decade CBRE has
been heavily immersed in this project, whose success will
not only be judged on completion of the Olympic facilities
themselves, but on the legacy and long-term opportunities
brought about by the regeneration for Londoners and
investors alike.
When London was awarded the 2012 Olympic Games,
the 500 acre bid site was still an industrial heartland but
situated just 3 miles from the City of London and 17
minutes by Tube from the very centre of London, Oxford
Circus. Although there was good infrastructure in place
in 2005, prior to the bid East London and specifically
Stratford had suffered economically for a number of
years. Fragmented land ownership, lack of investment
and industrial contamination meant that options for
comprehensively re-developing this area were incredibly
limited. Over a two year period, CBRE acted for the
London Development Agency, the regeneration arm of
the Mayor of London, acquiring this land and relocating
businesses occupying over 3.5 million sq ft to deliver a
cohesive site by June 2007, thus enabling the building of
the Olympic Park. This was the largest and fastest land
assembly project ever undertaken in Europe.
The success of London’s bid was heavily predicated on
the regeneration proposals for the site and wider area. The
big question is: Will London succeed where (some) others
have failed in delivering an Olympic Games where the host
city is the real gold medal winner?
Speaking with my colleague Matthew Black, CBRE’s
Senior Director for Central London Development Team,
who as adviser to the Olympic Delivery Authority has been
involved with the development of the Olympic Park since
its inception and was responsible for the negotiations
surrounding the land acquisitions, we believe the answer
An Olympic-sizedAn Olympic-sizedOpportunity for Hong KongOpportunity for Hong Kong
Craig Shute, Senior Managing Director for
CBRE Hong Kong, Macau and Taiwan
Craig Shute
B u s i n e s s
is a resounding ‘yes’. The immediate Olympic site
and the wider surrounding area has already attracted
international developers and private capital due to the
signifi cant opportunities brought by the opening up of this
strategic site. We estimate that £2 billion (HKD24bn) has
been invested in the last two years alone, representing
commitments to deliver more than 6,000 homes and 5
million sq ft of commercial space.
Austral ian shopping centre group Westf ield has
constructed Europe’s largest indoor shopping mall,
totalling 1.9 million sq ft, which remarkably opened with
95% of its space let in the eye of the economic downturn
in September 2011. The centre has had a strong impact in
changing the economic outlook for the area and external
attitudes towards it. On its own, the centre is projected to
provide 18,000 jobs in Stratford. Westfield’s investment
has already been vindicated – Dutch pension fund APG
and the Canadian Pension Plan Investment Board bought
a 50% stake in Stratford City for £870 million in late 2011.
Westfi eld has also completed the fi rst phase of its offi ce
developments and over 100,000 sq ft of grade A space
has been let. Likewise, the Athletes Village presented
a major investment opportunity for investors seeking
to access residential opportunities in London’s supply-
starved market. The private element was built on time
and on budget and pre-sold to property investor Delancy
and Qatari Diar, the property investment arm of the Qatar
government, for over £550 million in 2011 - Britain’s
largest private rented sector deal. After the Games this will
accommodate over 4,000 inhabitants.
Other components of the Olympics infrastructure provide
clear opportunities for the area and further investment
post-Games. This includes the 1 million sq ft Press and
Broadcast Centre. Two fi nal submissions for future usage
are currently being assessed, and whoever is successful
will bring a further 5,000 workers and a signifi cant number
of new employment opportunities to the area.
Lend Lease and London & Continental Railways are also
planning to build 4.5 million sq ft of offices. Discussions
are taking place with occupiers who are more usually
associated with Central London offi ce locations who are
attracted by the opportunity and plans for HS1, which will
provide a direct high speed rail link to continental Europe.
Creating a destination like the Park is incredibly important
for the legacy of the Games and Stratford’s ability to draw
in investors after the athletes leave. London is unique
in that creating a legacy and an attractive investment
proposition was an intrinsic part of the bid.
Regeneration and legacy isn’t just about what has
happened within the confines of the Park however. Inter
Ikea, the Swedish pension fund related to the Ikea Group,
has purchased approximately 29 acres of redundant
industrial land at Sugar House Lane and submitted a
planning application for 1200 new homes, 400,000 sq ft
of commercial space and has pre-let the 350-bed Marriott
hotel. Investment on this scale is a huge endorsement by
the private sector of the work undertaken to change the
perception of the area of London and to attract private
investors.
How will history judge the London 2012 Games? The
post-Games regeneration vision of building a thriving
commercial hub in Stratford has remained steady over
time and the area now represents a credible alternative
location for occupiers and investors to London’s more
established markets. The fact that the majority of the large
assets have been funded or acquired by international
capital is a major endorsement of how London has seized
the opportunity created by the event.
Referring back to the comparison of London and Hong
Kong, I am not suggesting that Hong Kong should bid
to host the Olympics any time soon, although we did
successfully play our part hosting the equestrian event
during the Beijing Olympics, not forgetting that we
are annual hosts of the world’s premier rugby sevens
tournament. However like London, Hong Kong is in
need of a credible alternative location for occupiers and
investors to meet the requirements of international and
local businesses and also directly benefit Hong Kong’s
people.
Referring to the example of East London, pre-2005 it
was an area with a poor reputation, considered to have
few prospects - an industrial heartland with fragmented
ownership and a destination deemed too far from
Central London. Here in Hong Kong, we could easily be
talking about Kowloon East. While we don’t have a big
ticket event like the Olympics, we do have the CBD2
redevelopment project which covers a similar scale 488
hectares of land including 320 hectares on the former Kai
Tak site, we do have the wider West Kowloon Cultural
District project, we do have the upcoming high speed
rail connecting Hong Kong to the mainland and we do
fundamentally have the need to follow London’s example
and continually look to reinvent our city. We do need a
master-plan to successfully regenerate our city if Hong
Kong is to continue its role as Asia’s premier business hub.
Let’s go for gold.
Britain in Hong Kong 2322
The Hong Kong CleanupI n H o n g K o n g w e
generate a shocking 6
MILLION TONNES of
waste every year, but only
a small portion is recycled.
Our landfills are almost
full, and a vast amount
ends up in nature.
Having engaged over 60,000 volunteers in cleaning
up over 250,000kg of trash, and now in its 12th
year, Ecovision’s Coastal Cleanup Challenge is firmly
established as a well-loved and vital part of the Hong
Kong event landscape. This event is part of a global
eco initiative by Ocean Conservancy - The International
Coastal Cleanup, which takes place in over 100 countries
and last year alone mobilized more than 600,000
volunteers. Yet 11 years of data and volunteer feedback
show a need for even greater community engagement
and action here in Hong Kong.
T h u s , E c o z i n e a n d
National Geographic
Channel (HK) are proud
to bring you: the Hong
Kong Cleanup . As
part of this year-long
educat ion p la t form,
we are expanding beyond beaches and coastlines to
cleaning up country parks, urban areas, offi ces, homes
and schools, with the support of Presenting Sponsor,
Nomura. Now there are many more ways for you to
participate with your colleagues, school, family, friends or
community!
Everything is connected – the land, the sea and the
air we breathe. What we do at home, at school, in the
office or in our neighbourhood, can affect ecosystems
hundreds of kilometres away in the ocean. Everyone can
be part of the solution - from product development to
disposal, we all have a role to play. Together, we can halt
the fl ow of trash into our precious oceans!
Do you love Hong Kong? Want to be part of something
big? Join hands with the Hong Kong Cleanup. Together,
WE CAN MAKE A DIFFERENCE! Visit HKcleanup.org
today and sign up a tem today!
Three team challenges = More ways to participate!
1. Coastal Cleanup ChallengeWith its expansive coastal areas, fi shing and shipping
industries, marinas, boating and water sports, Hong
Kong has a special relationship with the marine
environment, and as such it is vital for us to take part
in its protection. Beach cleanups bring awareness to
the vast and vital issue of marine debris, and allow
participants to engage with our beautiful coastal
ecosystems.
2. Country Cleanup ChallengeHong Kong’s country parks are one of our most
valuable assets. They offer not only beautiful vistas
and recreational activities such as hiking, cycling
and camping, but also absorb carbon dioxide and
are home to many species of wildlife. Detrimental
.com
The Hong Kong Cleanup
E nv i ro n m e n t
amounts of litter and trash can be found in all of our
country parks, and the issue needs to be addressed.
Cleanups educate about littering and its effect on the
natural world we all need and enjoy.
3. City Cleanup ChallengeEvery day, more than 10,000 street cleaners manually
sweep and remove copious amounts of litter and trash
from our city streets. Trash from our homes, offices,
schools and neighbourhoods is bagged and sent to
already-full landfills, or swept down storm drains and
washed out to sea. We need to look at our urban
behaviour and stem the flow of trash at the source.
Cleaning our city streets, offices homes and schools
will provide an eye opening experience for many. City
Cleanup Challenges can take the form of a single day
cleanup or a longer-term monitoring activity!
Get involved!
Joining the Hong Kong Cleanup is brilliantly simple!
Registration will begin in late August, and it’s FREE for
everyone! Participation happens in four simple steps:
1. Create your CleanupSimply visit HKCleanup.org and follow the simple steps
to create your event. You’ll be able to choose your
date, location and Challenge type, and invite friends
instantly through social media or email. Your team can
be anywhere from 3 people to 300 people, and can
include colleagues, classmates, friends, or anyone
you choose to invite! You can also create as many
Cleanups as you wish. After signing up, you’ll have the
chance to select your free briefi ng session.
2. Attend your FREE briefi ng sessionAll team captains may attend a free group briefing.
At the briefing, you’ll learn how to conduct a safe,
fun, successful cleanup and get the most out of
the experience. You will receive full support as well
as educational materials and data tools. Many
useful materials can also be downloaded from our
comprehensive website.
3. Go clean!On your chosen date or term, your team will clean your
chosen area, or activate your monitoring activity. You’ll
not only be making Hong Kong more beautiful, but
raising awareness, collecting vital data, and having a
fun, engaging experience with your company/school/
group/family!
4. Share your resultsAfter completion, simply login and enter your Cleanup
data to be included in our local and global reports as
well as to be eligible for team prizes in the Challenge.
You’ll also be able to share photos and stories, follow
us on Facebook and Twitter, and check out what other
teams have done. Watch out for your invitation to our
Awards Ceremony in November!
What can you do?
Ten simple things YOU can do to make a
difference:
1. Bring a reusable bag to do your shopping.
2. Carry a reusable, BPA-free water bottle or thermos.
3. Vote with your dollar – avoid purchasing anything
overpackaged, and choose products that are
returnable, reusable or refi llable.
4. Separate the recyclables in your home for easier
recovery and recycling.
5. Consider reusable containers and chopsticks or
cutlery for purchased takeaway school or work
lunches.
6. Donate used household products, clothing, and
furniture to charity rather than throwing them away.
7. Write to your local district councillor and voice your
support for better waste policies.
8. When hiking, camping or enjoying the outdoors
keep your litter until you can dispose of it in a
proper receptacle.
9. Get your community, school or workplace involved
in monitoring and reducing waste, and set up a
recycling system.
10. Sign up a team today for the Hong Kong Cleanup
Challenge: visit Hkcleanup.org!
Britain in Hong Kong 2524
Our adventure began as soon as we touched down in the northern city of Chiang Rai
where we were met and transferred in the comfort of a private car for an hour further
north through paddy fi elds and past ancient hillside villages, eventually ending at the
West Post, a small dock located on the banks of the Ruak River. Here, the camp host
was waiting for us with some deliciously cold towels and cool refreshments, before
ushering us down some steps and into a traditional long-tail boat. Barely uttering a
word as we were taken upstream for ten minutes, we were
all totally mesmerized by the beauty that surrounded us,
when the camp suddenly came into view jutting out of the
jungle, dramatically yet elegantly in front of us. Located in
the heart of the Golden Triangle and set amidst 200 rugged
acres along the river on the Thai-Burmese border the camp
boasts stunning views of the lush tropical jungle, with the hills
of Eastern Burma in one direction and the mountains of Laos
towards the northeast.
With so much on our doorstep here in Hong Kong we are often spoilt for choice on where to go for one’s next
holiday. The close proximity of Thailand, as well as the unique mix of what it has to offer keeps us coming
back, time and time again. In early July I was lucky enough to go on a once-in-a-lifetime trip to the northern
tip of Thailand for an all-inclusive stay at the Four Seasons Tented Elephant Camp. Whilst I had done a small
amount of research beforehand nothing could have prepared me for the most unforgettable few days spent
elephant trekking through lush jungle, whilst unwinding in superb luxury tented accommodation in the heart of
the Golden Triangle.
All-inclusive
ELEPHANT ADVENTURE
L i f e s t y l e
We were greeted at the camp pier by another group of friendly staff all exuding the
same warmth and kind nature that seems to go hand in hand with the Thai people.
Whilst checking in, the delightful camp manager, Vikas, told us the interesting
story of how the Four Seasons Tented Camp had come into being. With a ban on
logging imposed in Thailand in 1989, many elephants were no longer needed in the
countryside and they soon became a burden on their owners. As such, many were
taken to the cities where they were made to ‘entertain’ for
a living. Under the guardianship of the Thai Government’s
Elephant Conservation Centre (TECC) the Four Seasons set
up an adoption programme to help rescue elephants from
the streets, giving them the opportunity to live in a natural
environment again as well as providing wages and benefits
for their owners (the mahouts). The adopted elephants are
now cared for on-site and can be seen roaming the jungle
that surrounds the camp as well as during breakfast where
guests have the unique opportunity to feed them.
Checked in and ready to explore we were lead across an
Indiana Jones-style suspension bridge and along the thick
bamboo jungle pathway to our tent. One of just 15 that make
up the entire camp, the canvas-covered, air-conditioned
tent was huge with gorgeous comfy beds, a standalone
copper bathtub, an outdoor rain shower and a large private sundeck with stunning views towards Burma and Laos.
All the handmade furnishings and fi nal touches are customized on 19th century expeditions from the region, so it had
a real old-world rustic feel with sophistication and luxury all rolled into one. The tents are all built at enough distance
away from each other, maintaining a sense of privacy and seclusion, whilst savouring the peaceful ambiance of the
surrounding jungle. Leaving the sundeck and elephants, that had come to pay a visit, behind, we headed for the
riverside free-form pool to enjoy an obligatory kir royale whilst having a plunge amongst the serene bamboo jungle.
Our next port-of-call was the stilt-top Burma Bar where, in the warm evening light, we sampled the various cocktails
on offer as the golden sun set over the Burmese hills. A delicious supper awaited us at Nong Yao restaurant followed
by some cheese and wine tasting in the huge wine cellar. Phew – what a day! Exhilarated yet exhausted we collapsed
into our pillow-top beds and it wasn’t long before the sound of geckos were the only noise to be heard.
The next morning I somehow managed to peel myself away from the comfort of my bed and took part in an early
morning exercise/yoga session in an outdoor pagoda, followed by a small hike up to the viewpoint to see the
sunrise. A well-earned breakfast followed and was fi lled with much amusement due to the company of our hosts…
the adorable baby elephants who were patiently waiting for the guests to feed them endless handfuls of bananas,
pineapples and anything else on offer. Whilst they were gauging on their feast, I was meanwhile tucking into another
incredible spread that had been laid in front of us which certainly set us up for the main activity of the trip.
With a slight feeling of apprehension (mainly because
of the sheer size of these vast mammals) we
ventured towards the elephant camp to meet the
mahouts and to be assigned an elephant each. It
didn’t take long to feel more at ease thanks to our
extremely patient guide and the mahouts themselves,
who taught us various commands in Thai. Like a
scene from the Jungle Book, we were soon marching
along at a pleasant pace giving various orders, when
suddenly I realised we were heading straight for the
river. We had been told that the elephants like to
bathe whilst trekking but I didn’t anticipate to what
extent. Noone could contain their laughter as my
elephant ‘Thom Kap’ totally submerged herself and I
beneath the muddy water. All I could do was cling on for dear life but there was
no stopping her as this was closely followed by a continuous shower from top
to toe! Despite being utterly sodden on the trek back to the camp we were all
in complete stitches. After a mandatory photo shoot with our new best friends
we headed back to freshen up in the comfort of our tent which was defi nitely
called for!
Britain in Hong Kong 2726
After a nap on our sundeck and another exquisite meal of delicious Thai fare in Nong
Yao we spent a cultural afternoon exploring the Golden Triangle by long-tail boat
as we were taken along the Mekong river to the actual intersection where all three
countries met, followed by a trip to a local market and temple. Back at the camp and
to end a perfect day we headed to the Spa where we were treated to the aptly named
‘Mahout Recovery massage’ which worked wonders on our sore muscles. The spa
setting was as spectacular as they get, sitting atop a hillside in an open environment
amidst the jungle. It wasn’t long before I had totally passed out in the warm tropical
breeze to the sound of birds singing and geckos calling. Bliss!
It is safe to say that our stay at the Four Seasons Tented Camp was above and
beyond all our expectations. Someone had told me before the trip that I was about
to go on a holiday of a lifetime, the memories of which will stay forever, and it’s fair to
say that I now know exactly what they meant. The fl awless way in which the camp is
run, the attention to detail and the exemplary service that the staff provide at all times,
complemented by the unique natural beauty of the surrounding setting, made for
an unforgettable holiday and one which I hope I am fortunate enough to experience
again one day.
For more information about the Four Seasons Tented Camp
please visit their website:
www.fourseasons.com/goldentriangle/
To make a booking please contact Lightfoot Travel on
+852 2815 0068 or email info@lightfoottravel.com
Bespoke t r ave l company L igh t foo t Trave l
(www.lightfoottravel.com) is an Asia-based tour
operator specializing in tailor-made holidays,
honeymoons, short breaks, boutique accommodation
and private villas in Asia and beyond.
L i f e s t y l e
Britain in Hong Kong 2926
Upcoming Events
Kindly brought to us by Prudential, a special lunch event took place in the Island Shangri La hotel on Thursday the 12th of July,
when Dr Richard Jackson from the Center for Strategic and International Studies in Washington D.C gave a presentation about
the major fi ndings of a recent survey of workers and retirees in East Asia. Commissioned by leading life insurer Prudential plc,
a survey of workers and retirees in six major geographies in Asia was carried out by the Center for Strategic and International
Studies (CSIS), a US-based public policy research institution. The study focused on China, Hong Kong, Malaysia, Singapore,
South Korea, and Taiwan and highlighted issues associated with demographic and cultural shifts, the East Asian population’s
changing attitudes towards retirement, and implications for governments and businesses.
Past EventsBalancing Tradition and Modernity: The Future of Retirement in East Asia– Dr Richard Jackson, Centre for Strategic and International Studies
Update on China-Hong Kong Double Taxation Event date: Thu, 18/09/2012 - 12:30 - 14:00Venue: Conference Room, 6th Floor, British Consulate-
General
Louis Lam and Monica Xu, Partner and Senior Manager of the International
Assignment Services with PwC Hong Kong, will take you through the details of
China’s new tax law — which aims to reduce the problem of double taxation, and
what it means for HK residents working in China in an interactive seminar. The
British Chamber of Commerce in Hong Kong has planned a Trade Mission to
Macau on Thursday 20th September 2012.
Macau Trade Mission 2012 Event date: Thu, 20/09/2012 - 12:00 - 19:00Venue: Macau
The British Chamber of Commerce in Hong Kong has planned a Trade Mission to
Macau on Thursday 20th September 2012.
The Statutory Residence Test: What You Need to Know Event date: Thu, 20/09/2012 - 12:30 - 14:00 Venue: Conference Room, 6/F, The British Consulate-
General
On 6th April 2013, the old uncertainties will largely disappear as three centuries of
case law and the very limited pieces of statute law are swept away and replaced by
a new Statutory Residence Test. In this presentation, Martin Rimmer, Tax Manager,
Asia-Pacifi c, The Fry Group, will outline the key pillars behind each of the three tests,
provide worked examples and will equip you with an understanding of the new rules.
He will also explain where the danger areas lie and where care will still be required.
YNetwork Ping Pong Tournament 2012 Event date: Thu, 20/09/2012 - 19:30 - 21:30Venue: SCAA, 8/F, Table Tennis, Sports Complex
The Young Executives’ of the British Chamber have organised their fi rst ever Ping Pong Tournament, and
it is set to be a fun-fi lled night!
Women in Business Networking Lunch Event date: Wed, 26/09/2012 - 12:30 - 14:00Venue: Oolaa
Come and join the Women In Business Networking Lunch, a great chance to network with fellow female
chamber members. September’s lunch will take place at Oolaa in Soho. Non-members are very welcome
to attend.
Shaken Not Stirred Networking Drinks Event date: Thu, 27/09/2012 - 18:30 - 20:30Venue: The Globe
Supported by the Environment Committee, this month’s networking drinks we aim to help build waste
recycling awareness among Chamber members and inspire all to take action over drinks and canapés at
one of Hong Kong’s best-loved local!
The British Chamber and Tanner De Witt present: Breakthrough Boxing 2012Event date: 13 Oct 2012 - 19:00 - 23:59
Our popular annual charity boxing event, held in association with Operation Breakthrough. Don’t miss
this night of action and excitement at the Hong Kong Football Club on Saturday 13th October 2012.
Well Connected. Worldwide.™ crownrelo.com/hongkong
MANAGEMENT & LETTINGPRIME CENTRAL LONDON
A well tried, tested. Comprehensive and personal service provided by
an experienced and dedicated team, who understand the needs of the
International Investor.
Letting * Management * Refurbishment * Online Statements * Tax
Returns for Overseas Investors * Regular Visits by Directors.
Contact:
Perry Bousfi eld Neil West
Director Property Manager
Perry.bousfi eld@primeportfolio.com neil.west@primeportfolio.com
Prime Portfolio
45 Charles Street
Mayfair
London W1J 5EH
Tel: +44 (0)207 409 0209
Fax: +44 (0)207 629 6050
www.primeportfolio.com
Member DiscountsFood 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. This applies to over 1600 Sofi tel, Pullman, MGallery,
Novotel, Mercure, Thalassa & Orbis hotels worldwide. You will also receive 5% discount
on top of the best unrestricted rates for hotels including ibis (in specifi c countries), All
Seasons & Hôtel Barrière. 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. To make a reservation please call 2530
4422 or email booking.alfi es@keeclub.com
Berry Bros. & Rudd | Members can benefi t from a 10% discount on all retail prices as
well as receiving invitations to free tastings and other wine events during promotional
period. For more information please call 2907 2112
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 treatments upon spending HK$1,000 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 Connie Kwan on 2315 5666 or email connie.
kwan@themirahotel.com
W Hong Kong | Members will receive fantastic offers at Kitchen and Sing Ying. Dine at
either of these restaurants and receive complimentary discount vouchers to use at your
next meal. For more information or to make a reservation please call 3717 2222
There are many great benefits of being a member of The British Chamber of Commerce. One of those is the
Member Discounts programme 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
Home
Allied Pickfords Hong Kong | Allied Pickfords will extend a free local move for any
Home Search completed by SIRVA Real Estate. For more information please call 2823
2089 or email olivier.jourdan@sirva.com.hk
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
Colourliving | As a member of the British Chamber of Commerce, you can enjoy a 10%
discount on all normal price merchandise when shopping at Colourliving in Wanchai.
Please call 2510 2666 or visit www.colourliving.com
Travel & others
Avis | Members can receive up to 20% discount off standard rates on car rental
bookings. To make a booking please call 2882 2927 or visit www.avis.com.hk
British Airways | As a member of the British Chamber of Commerce you can enjoy
an exclusive offer of 7% discount from British Airways. To make a booking please visit
www.britcham.com/memberdiscount/british-airways
Compass Offi ces | Compass Offi ces, Hong Kong’s largest Serviced Offi ce provider,
offers members a 10% year round discount on meeting rooms, a free one hour
Telepresence or Video Conferencing session and a 3 month complimentary Virtual
Office package. For more information please call 3796 7188 or email hksales@
compassoffi ces.com
Flight Centre | Members will receive HKD150 off the fi rst booking made as well as a
complimentary Airport Express ticket per booking. For all holiday and fl ight enquiries
please call Paul Jeffels on 2830 2793 or email paul.jeffels@fl ightcentre.com.hk
Regus | Britcham members will receive a complimentary six-month Businessworld Gold
card that gets you access to 1,200 business lounges in prime central city business
locations in Asia and around the world. For more information or to accept this offer
please visit www.regus.hk/localpartnership and enter the activation code APHKBCC
in the Promotional Code box.
The Hive | The Hive is offering one additional month’s membership at no extra
charge for any member who signs up for 6 months. For further details, please visit
www.thehive.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 get 5% on all purchases from VisitBritain’s
online shop by entering the code TR7DE67! at the checkout.
Please visit www.visitbritaindirect.com/world for further details.
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
Britain in Hong Kong 3332
To enter:
• Consider who among your contacts might be interested in joining the Chamber
• Email dovenia@britcham.com with the name and contact details of your suggested company
• If appropriate, contact your suggested company and let them know that the Chamber will be in touch
• The Chamber will follow up with each suggestion directly
• If your referral is successful, the Chamber will contact you with details of how to book your dinner. Your name will also go into
the prize draw which will be drawn in March 2013.
Make a successful referral to the
British Chamber of Commerce
and enjoy a fantastic meal for two!
AND if you happen to refer the most new members to the Chamber, you are in for a real
treat for you and your friends! A complimentary dinner for four at Sakesan, the newest
Robatayakibar, courtesy of Cafe Deco Group.
Sakesan
Sakesan is the newest Robatayakibar in the heart of the bustling Soho area. It offers a range of
exquisite dishes fresh from their robata grill, as well as other Japanese culinary delights, all rendered
with a modern twist. Designed by Fiona Bagaman and Mirei Lim, Sakesan uses different wood
and stone tones with fl ashes of black and gold to create a serene, relaxed and cool space. Funky,
colourful sake barrels wrap the bar
area and frame the individual dining
booths and an illuminated Japanese urban scene gives the bar a warm
glow as well as striking visuals. Signature dishes include homemade
steamed tofu, salmon miso, lobster dumplings and SAKESAN black
cod. There is also a cool bar featuring a top range of sakes, shochus
and awamoris with a superb range of cocktails made with these classic
Japanese ingredients. To compliment this they also offer a selection of
some of the fi nest, most thirst quenching beers to emerge from Japan.
The British Chamber is delighted to announce that the
Member Get Member 2012 campaign is well underway! If
you successfully introduce a company that results in them
becoming a member of the Chamber, you will receive a
fantastic dinner for two courtesy of one of our top member
restaurants in Hong Kong.
Not only that, all referring members will be entered into a
prize draw to win a $2,000 voucher to go towards your holiday
provided by Flight Centre!
MEMBER GETMEMBER 2012
Terms & Conditions
• You must be a member of the British Chamber to be eligible for this offer
• The dining vouchers will only be provided if your referral results in a new member for the Chamber
• This offer is valid for all members whose referral results in a new Corporate, Overseas or Startup member of the Chamber. It
does not apply to Additional members or additional YNetwork members
• The Chamber will allocate the restaurant vouchers. Members will not be able to choose which restaurant they visit and must
adhere to the terms and conditions
The Bostonian, The Langham, Hong Kong
This well-established restaurant has been a Hong Kong favourite
for well over a decade. Located at the lower lobby level of
The Langham, Hong Kong, The Bostonian has an excellent
reputation for its superb steaks, and more recently its fully sustainable seafood menu. Featured
by one of Hong Kong’s infl uential restaurant bibles, “The Hong Kong Best Restaurant Guide”
since 2000 and recommended by The Michelin guide, the Bostonian is a hallmark for impeccable
service and exceptional food. Guests can indulge in a tantalising array of fresh seafood from
around the world at the “Raw Bar”, including home-made smoked salmon, prawns, crabs and
freshly shucked oysters. The enticing menu also includes gourmet favourites such as maine
crab cakes, sautéed foie gras, clam chowder, as well as separate menus for the restaurant’s
specialties – the Boston lobster galore, seafood sharing platters and Bostonian grill.
KITCHEN, W Hong Kong
Kitchen is a modern bistro with a capacity of 200,
reflective of W’s signature stylish and fun design. Upon arrival to KITCHEN, the
mad hatter’s tea party in “Alice in Wonderland” brings guests to a world of fantasy.
Cats play and jump around the stacks of plates, inviting guests to join their games
too. KITCHEN’s modern interpretation of timeless classics and equally innovative
original masterpieces fi ll a menu that’s designed to tantalize and satisfy even the
most discerning gourmands. Guest can indulge in the fun world of kitchen, while relaxing in the pleasant and interactive dining
experience, sampling the delicate cuisine on offer from all over the world.
Lobby Lounge, Conrad Hong Kong
Featu r ing the spectacu la r v iews
of the Hong Kong skyl ine and l ive
entertainment, the Lobby Lounge is the ideal venue for private
meetings or relaxed gatherings with friends. From salad bar to noodle
station, and delectable hot dishes to exquisite desserts, the Southeast
Asian themed supper buffet showcases an impressive range of more
than 50 scrumptious all-time favourites.
So what are you waiting for? Spread the word throughout your network to enjoy
a complimentary meal for two at one of these fantastic member restaurants:
cafe TOO, Island Shangri-La, Hong Kong
The innovative cafe TOO brings casual dining
to a higher level of creativity. Their ten cooking
theatres, each featuring a different culinary style, are
showcases for the best of international cuisine as well as stages for their
chefs' engaging performances.
T
Café Renaissance, Renaissance Harbour View Hotel Hong Kong
Café Renaissance is the perfect place for all day dining. Located on the
Mezzanine fl oor, the 210-seat all-day dining café serves a wide variety
of dishes from all over the world. Café Renaissance serves wholesome
breakfasts, chef crafted lunches and dinner buffets plus à la carte menu daily and brunch
on weekends, in a warm and welcoming atmosphere. In addition to the great array of fresh
seafood delights using the freshest ingredients, guests can also enjoy a tantalizing array of
international favourites and local specialties from live cooking stations.
Britain in Hong Kong 3534
Cleaner Waters for Hong KongHong Kong’s Director for Environmental Protection has announced a new scheme to encourage ocean-going vessels to switch to low sulphur fuel while in Hong Kong waters. Vessels which comply while berthing in Hong Kong will enjoy a 50% reduction in dues for port facilities and lights. The incentive scheme will come into force on 26 September 2012 and will last for 3 years.
Reversal in Regional Luxury Property MarketEmerging South East Asian cities are leading the charge in luxury residential capital value growth across Asia, according to the latest Residential Index from Jones Lang LaSalle. Jakarta and Manila registered double digit increases of 19.2 percent and 10.5 percent respectively in the 12 months to end-Q2. Meanwhile, Hong Kong, Singapore, Shanghai and Beijing have seen annual declines in high-end residential prices of up to 8 percent.
Finance Professionals Staying PutThe latest Movement Survey in Hong Kong from career site network eFinancialCareers has found that 8 in 10 Finance Professionals Choose to Stay in Hong Kong Amidst Global Economic Uncertainty. The survey, exploring the attitudes of 653 Hong Kong-based fi nance professionals towards relocation and working in Hong Kong, revealed that over 8 in 10 (82%) of them have no intention of leaving Hong Kong in 2012. The city’s stable and well-developed economy, supported by continued growth from mainland China, makes it an ideal market for finance professionals to wait out the downturn. A similar proportion (81%) also said they would recommend Hong Kong as a place to live to other fi nance professionals.
Increase in ‘global nomads’ weighing on expatriate benefi t provision Mercer’s 2011/2012 Benefits Survey for Expatriates and Internationally Mobile Employees survey has highlighted the challenges companies face as a result of the growing number of ‘global nomad’ employees. While the number of employees on international assignments has remained relatively stable over recent years, the percentage of “global nomads” (employees who move from country to country on multiple assignments) and long-term expatriates has increased by two thirds since 2008/2009, causing challenges for employers when it comes to providing expatriate benefits. One effect this has had is that 53% of companies have seen increases of 6% or more to their international medical plan premium. However, provision of expatriate benefi ts remains a key priority for multinational companies – 85% of survey respondents have specifi c procedures in place to monitor the success of expatriate benefit programmes. Employers are reportedly eager to ensure that their expat benefits programmes not only support business and HR strategies but also meet their assignees’ needs. The survey covers 288 multinational fi rms world-wide which, altogether, employ 119,000 expatriates (up from 94,000 in the 2008/2009 survey).
Garuda Indonesia Awarded ‘World’s Best Regional Airline’ Accolade at the World Airline Awards 2012Garuda Indonesia, the Indonesia national flag carrier has been named “The World’s Best Regional Airline” and the “Best Regional Airline in Asia” at the SkytraxWorld Airline Awards Ceremony held at Farnborough Air Show 2012, London. The awards, presented to Mr. Emirsyah Satar, President & CEO of Garuda Indonesia by Mr. Edward Plaisted, CEO of Skytrax, were given to Garuda based on a global customer satisfaction survey conducted over a 10-month period. The survey, which targeted more than 200 airlines, from global to domestic carriers, interviewed 18 million passengers from 100 different countries via questionnaires, telephone and online portals about their satisfaction across more than 38 key performance indicators of airlines’ service and product.
Survey reveals cautious optimism among businesses in Hong KongAccording to the Grant Thornton International Business Report (IBR) in Hong Kong, businesses are only cautiously optimistic about the economy over the next 12 months. Expectations for employment remain below 2011 levels whilst the availability of a skilled workforce and bureaucracy are both far less of a constraint than in 2011. The survey, targeting over 200 businesses – ranging from medium to large in size with a total employment of between 100 and 499, takes in the views of more than 12,000 business leaders in 40 economies around the world.
Hong Kong business leaders show strong support for greater shareholder involvement and transparency in setting senior executive compensationMore than three-quarters (78%) of business leaders in Hong Kong believe that senior executives at large public companies are paid too much, leading to a call for greater shareholder involvement in establishing remuneration policy for senior executives (80%) and disclosure of the remuneration policy and individual remuneration of executive and non-executive directors (68%), according to the research from the Grant Thornton International Business Report (IBR). These results are in line with the latest amendments by the Stock Exchange of Hong Kong (SEHK) on corporate governance requirements for companies, which should be implemented by stages in January, April, and December 2012.
BDO has recently appointed Gabriel Wong as their new Principal of Specialist Advisory Services. Gabriel is a CPA in Hong Kong and a member of the ACCA, and has in-depth experience advising clients on regulatory investigations, fraud investigations, breach of contract and dispute resolution, anti-bribery and corruption, irregular rebates and kickbacks, misappropriation of assets, financial statement manipulation, employee/management confl icts of interests, review of internal controls, forensic risk reviews and due diligence, compliance, anti-money laundering (AML) compliance reviews, and Foreign Corrupt Practices Act (FCPA) related investigations and reviews.
He also has experience in working in a regulatory authority’s enforcement division performing investigations into complaints regarding fi nancial institutions.
Fern Ngai, Head of Corporate Affairs at Standard Chartered Bank, will join Community Business as its new Chief Executive Offi cer effective 5 October 2012. Community Business, a leading non-profi t organisation based in Hong Kong, works with some of the world’s largest businesses in Corporate Social Responsibility.
Ms Ngai has worked at Standard Chartered for 25 years and has held leadership roles at a local and regional level, previously in the Human Resources, Technology and Operations, and Asia Governance and Strategic Initiatives functions. As part of her Corporate Affairs role, she is responsible for sustainability and she has been the bank’s Diversity and Inclusion champion, a Living with HIV Ambassador and Director of Programme Care, an employee-led community care and volunteering organization. Ms Ngai is also the Chair of the Board of KELY Support Group, a local charity dedicated to supporting young people.
Howse Williams Bowers has expanded its practice areas by adding a Family and Matrimonial Practice Group led by experienced practitioners, Linda Heathfi eld and Karen Lam. Linda joins HWB as a Partner and Karen joins as an Associate with effect from 1st September 2012. These most recent HWB recruits see HWB grow to 70 partners, lawyers and staff, with additional hires to be announced soon.
Linda worked for Richards Butler Hong Kong in the 1980s before qualifying as a solicitor and specialising in family and matrimonial law. Linda has built up a substantial family and matrimonial practice and is regarded as one of the leading lawyers in her fi eld in Hong Kong. Linda is moving to join HWB with her existing team and her practice.
Karen was admitted to practice law in New South Wales, Australia in 2007 and Hong Kong in 2008. Karen’s practice focuses on family law matters with emphasis on matrimonial disputes including divorce and separation, child custody, wardship and fi nancial applications, settlements and injunctions. Karen’s other areas of focus are will drafting, probate and general civil litigation matters. Karen has litigation experience in the High Court, District Court and Family Court in Hong Kong.
New Appointments
News
Co-hosted by Bloomberg,Compass Offi ces and
the British Chamber of Commerce
You’re invited to the fi rst Financial Entrepreneurs Series to be co-hosted by
Bloomberg LP, Compass Offi ces and the British Chamber of Commerce.
Our five-part seminar series will motivate, inspire and inform financial
professionals launching a business in Hong Kong. Themes include: how to
launch and grow a Family Offi ce, Hedge Fund or Private Equity Fund.
Event Schedule
Seminar 1
Becoming a Financial Entrepreneur:
Launching a Family Offi ce,
Hedge Fund or Private Equity Fund
September 13,
6.00-8.00pm
Seminar 2
Starting a Family Offi ce:
Demystifying Single and
Multi-family Offi ces
September 26,
6.00-8.00pm
Seminar 3Launching a Hedge Fund:
Growing the business beyond Alpha
October 11,
6.00-8.00pm
Seminar 4
Emerging Private Equity Funds:
Identifying Value in Illiquid
Opportunities
October 24,
6.00-8.00pm
Seminar 5
From Headspace to Desk Space:
Managing Operations,
Compliance and Risk
November 1,
6.00-8.00pm
The series features commentary, experiences and lessons learned from
Asia-based thought leaders and industry experts including:
John Dawson: Presenter, Bloomberg Television
Mike McDonough: Chief Economist, Bloomberg Asia
Charlie Luchangco: Convergence Capital
Chuak Chan: COO, Ascalon Capital Managers
Matthias Feldman: Senior Partner, Funds, Clifford Chance
Ying White: Senior Partner, Funds, Clifford Chance
Stuart Somer: Regulatory and Compliance Advisors, Corporate Support
Tony Mitchell: Willis Global Insurance
Darren Bowdern: Senior Partner, Tax, KPMG
Any many more!
Who should attend?
• Financial analysts, traders and portfolio managers with extensive
institutional experience thinking about a career transition
• Those starting, considering launching or joining family office, hedge
fund or private equity fund
• C-level professionals wishing to better understand the business and
operations of managing a fund
Series will be held at Bloomberg offi ce, 27th fl oor, Cheung Kong Centre, 2
Queen’s Road Central, Hong Kong.
We’ll conclude each session with refreshments and the opportunity to
network with panelists and like-minded entrepreneurs. Detailed agenda
and speaker lists for each seminar to follow.
For more information please contact mandy@britcham.com
The British Chamber of Commerce is delighted
to announce that CBRE is supporting the SME
Committee’s SMART TIPS FOR SMALL BUSINESSES
series of lunchtime seminars aimed at entrepreneurs
and small business owners in Hong Kong.
The series is co-ordinated by the British Chamber’s
SME Committee, a group of successful entrepreneurs,
business owners and experts who understand the
challenges faced by small businesses every day. The
series aims to provide practical know-how as well as
market analysis tailored to small business needs. The
series is open to members and non-members.
With the support of CBRE, the SME Committee is
looking forward to hosting a fascinating series of
seminars this year.
Baker Tilly Hong KongBusiness Angel Programme
Take your business
to
new heights
If you have a great idea or have started a new business and are looking to grow, the Chamber would like to help.
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-listed applicants will be given advice and assistance by a sub-committee of experienced professionals.
The next event will be taking place on Thursday 22nd November and the deadline for applications is Monday 8th October 2012.
If you’re an entrepreneur or SME looking for investment, and would like to fi nd out more about our programme, please visit angel.britcham.com or email emily@britcham.com
Calling all Start Ups!
Sponsored by:
Thank you for your continued support
The British Chamber’s Sterling Members
New Members
YNETWORKBTLaura NewmanAPAC HR Shared ServicesTel 2290 3091laura.2.newman@bt.com38/F Dorset House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong KongTelecommunications
STARTUPHK Maxim RecruitmentSteve ThomasBusiness Development DirectorTel 6906 1262steve@maximrecruitment.com15/F, Wisdom Centre, 37 Hollywood Road, Central, Hong KongRecruitment
DataContent LimitedKeiren HarrisDirectorTel 9409 8392knharris@datacontent.com1F, 71 Tai Lam Liu, Sha Tin, Hong KongConsultancy
Executives’ Global Network (HK) LimitedJohn WongManaging DirectorTel 3656 7737jwo@egn.com1003, 10/F, Worldwide House, 19 Des Voeux Road, Central, Hong KongBusiness Services
Wobbegong Software LimitedSteve SloanDirectorTel 9019 0967steve@wobbesoft.comRoom 13, Units 401-403, Level 4, Cyberport 1, 100 Cyberport Road, Pokfulam, Hong KongComputer / Technology / IT
CORPORATEBerkeley HK LtdIvy ChauHead of Marketing & Business DevelopmentTel 3753 6900ivy.chau@berkeleygroup.hk3202, Edinburgh Tower, The Landmark, Central, Hong KongProperty / Real Estate Services
The International Montessori School - An IMEF SchoolKarin AnnFounderTel 2861 0339info@montessori.edu.hkG/F, Blocks 23-23A, South Horizons, Ap Lei Chau, Hong KongEducation
Debevoise & Plimpton LLPThomas BrittPartnerTel 2160 9800tmbritt@debevoise.com13/F, Entertainment Building, 30 Queen’s Road Central, Hong KongLegal
ADDITIONALDairy Farm Company LtdJoshua ChetwodeFinance Director, North AsiaTel 2299 1531jlkc@dairy-farm.com.hk7th Floor, Devon House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong KongRetail / Wholesale / Sourcing
Harvey Nash (Hong Kong) Ltd.Alexandra PlowmanResearcherTel 2251 8404alexandra.plowman@harveynash.hkLevel 19, 2 IFC, Central, Hong KongExecutive Search
Berkeley HK LtdPaul BennettInternational Business Development DirectorTel 3753 6902paul.bennett@berkeleygroup.hk3202, Edinburgh Tower, The Landmark, Central, Hong KongProperty / Real Estate Services
PRC/MACAUChinasavvy HK LtdChristopher DevereuxManaging DirectorTel 86 20 8388 7080cpd@chinasavvy.com400 Wuzi Building, Beijiaochang, Henglu 12, Guangzhou, 510050,ChinaRetail / Wholesale / Sourcing
INDIVIDUALPhilip SanchezTel 6334 4690feast@fl yfi shing.tv9-10, 27/F, Seapower Tower, Concordia Plaza, 1 Science Museum Road, TST, Hong Kong
We Collect and deliver your carFREE OF CHARGE
(subject to distance)We provide good, quick repair service at
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FOOKIE MOTORS CO. LTD.Shop 7, G/F, Paramount Bldg.,12 Ka Yip Street, Chai Wan, Hong Kong.
Shaken Not StirredSponsored By
26th July 2012, The Dog House, Wan Chai
Kit Ping Au-Yeung (Coats North-East Asia), Jessica Schubert (Compass Offi ces), Jon Walsh (Regus)
Gary Tennant (TGP landscape Asia Ltd.), Ben Yates (Howse Williams Bowers), Gary Bukowicki (G4S Security Systems (Hong Kong) Ltd.), Gary Peter Hayward (Real Ale Management Consultant)
Graham Ackroyd (en world), Liz Hamerton (Secretarial Offi ce Services)
David Smyth (Clyde and Co), Malcolm Pratt (UniGroup Worldwide)
Abi Tannis (TTP Consulting), Beck Federici (Pentland Asia), Natalie Clark (Pentland Asia)
Hugh McKellar (Regus), David Dodwell (Strategic Access), Rachel Tennant (TGP Landscape Architects)
Will Sweeney (Concise Media); Emily Ferrary, Lucy Jenkins and Phillippa Cook (British Chamber of Commerce in Hong Kong); Leigh Mackeurtan (Concise Group)
Matthew Curtis (The Fry Group), Monica Dunner
Christopher Hammerbeck (British Chamber of Commerce in Hong Kong)
Ji Liu (Norton Rose), Divya Vaze (Prima Group Ltd.)
Simon Stevens (Financial Partners), Glen Farmer (Regal Hotels International), Jean-Yves Toulec (Hampton, Winter and Glynn)
Janette Kung (The Executive Centre), Michael Wong (Oxford University Press), Andrea Demy (AGS Four Winds)
Katherine Ong (Living Group), Melanie Osborne (Living Group), Jason White (Financial Partners)
Britain in Hong Kong 3938
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