By Ian Cruz

Ever since online advertising boomed

in the early 2000s, advertisers have relied on

buying display advertisements on websites

to reach their potential online customers.

This mainly consisted of buying space

for online ‘banners’ which would appear

on web sites - many of which were often

overlooked or ignored. This was mainly

due to them being lost in the slew of online

advertisements which would al l appear

within a particular page, or simply because

it advertised a product or service that had

absolute ly no re levance to the reader,

and therefore attracted little interest. As a

result, businesses began to question the

effectiveness of online advertising, and

accordingly, the justifi cation for setting aside

a share of their advertising budgets for it.

Flash forward to today, and the landscape of

online advertising has drastically changed.

Much of the success of companies such

as Google and Yahoo can be attributed to

the wealth they have created from online

advertising. Online advertising is booming

thanks in large part to the ability advertisers

and agencies now have to more accurately

target the specif ic audiences that they

want to reach, thus justifying advertising

budgets for businesses. It has taken a few

years for advertisers to effectively market in

the digital realm and they are still learning.

After all, online advertising is still a relatively

young industry. But with the ever growing

importance for businesses to have an online

presence, coupled with the new hardware

and devices that leverage digital technology,

the benefits of spending money online are

starting to become more evident.

Targeting An AudienceWith the online space now being an integral

e lement i n reach ing new cus tomers ,

businesses are constantly trying to better

understand how their target audience uses

the internet and thus, gain a better idea of

how to use the online space to reach them.

Whether it be an online user’s location,

demographic profile or online behaviour,

b u s i n e s s e s w h i c h s p e n d m o n e y o n

audience targeting online have found that

it has played a large part in the success of

their campaigns, not by just by generating

sales online, but also by improving general

brand awareness. As a result, we are now

seeing a sizeable amount of ad budgets

being allocated from the more traditional

means of advertising to the online space.

In a recent report conducted by global

online advertising technology company,

AudienceScience, it was reported that 48%

of the agencies and 52% the advertisers

who ut i l i se aud ience ta rget ing saw a

r ise in the i r budget for on l ine d isp lay

advertising from 2010 to 2011, by 27%

and 24% respectively. This is opposed to

the advertisers and agencies who do not

utilise audience targeting, who saw their

display budgets decrease by 43%. While

a small share of advertisers and agencies

that do employ audience targeting saw their

budgets decrease, this does not necessarily

diminish its effectiveness. In fact, among

those that saw a decrease, 24% had

c la imed that due to the effect iveness

of targeted advert ising, they were able

to reach the i r ta rgeted aud ience at a

lower cost.

Social MediaIn the business world, it has been hard not

to notice the ever growing importance of

social media. The medium is now a regular

part of people’s daily lives as people take

to websites such as Facebook and Twitter.

With close to 700 million users on Facebook

and over 200 mil l ion on Twitter, it is no

surprise that businesses are clamouring for

a presence on social media sites. In fact it

was recently reported that of the over 1.11

trillion advertisements which were viewed

online in the US in the first quarter of this

year, a staggering 31.2% were delivered

on Facebook; that is a third of all online

ads within the country. With 346.46 billion

impressions (views), this made Facebook

the leader in all websites that display online

advertising. This is double the fi gure of the

second leading website Yahoo, with only

112.51 bil l ion impressions. This clearly

Targeting Customers In The Digital RealmAdvertising OnlineAdvertising Online

PAGE 4Women’sFinancial Planning

PAGE 8Sir Martin BroughtonB.A. Chairman

PAGE 6Lord Mayor of London

PAGE 16Visiting Borneo

In This Issue

(Continued on page 2)

May 2011 • Vol 26 • No 5

www.britcham.com

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

indicates how advertisers and publishers view the importance of social media when it

comes to targeted advertising. Ever increasing its hold on the online advertising market,

Facebook is looking to expand its online advertising, allowing businesses to target their

audience even more precisely. For example, it is looking to introduce a new ad service

that allows companies to place their logos alongside Facebook content and posts which

involve that particular company.

Refi ning The ProcessIn the online space, advertisers and

agencies are constantly trying to find

new ways for their advertisements to

reach their defined target audience.

As a resu l t , search adver t is ing is

quickly proving to be the most focused

means of audience targeting from the

perspective of businesses. In 2000,

search advertising make up 1% of online

spending in the US. Today, that figure

has risen to nearly 50%. The reason for

this is that search advertising is directly

based on the interests of the consumer

through digital traces online.

As a consumer goes online to search for a new flat-screen television for example, and

visits a particular brand or company’s website, the website will drop digital markers on

to that particular computer. Having shown interest in that product, as he or she searches

through the web, advertisements from that particular brand will reappear on other web sites

that they would visit, with the intention that they will eventually buy that particular brand’s

television – or any of their other products for that matter.

Why advertisers and agencies feel this is so effective is that it allows them to retarget those

very same consumers – consumers they know already have an interest in that brand or

company. This makes it easy to justify online advertising budgets as no money is wasted

on buying general ad spaces that are often seen by consumers who have little or no

interest in that particular brand or product, and instead buys advertisements specifi cally for

a known audience.

Moving ForwardWith new devices such as smartphones and tablets being adopted by consumers on

mass, the opportunities for advertisers and agencies to reach their target audience

online are rapidly increasing. As consumers, we are slowly changing our daily habits,

in large part due to how we consume information online. We can easily read the daily

news on our mobile devices. People are taking to watching videos online as opposed

to television. The world is changing – and advertisers are rolling with the punches,

embracing that change by expanding their reach in the digital domain.

In the AudienceScience report, 77% of advertisers and 72% of agencies cited indicated that

they are intending to place more emphasis on mobile audience targeting. Much as internet

advertising had a boom in the early 2000s, the market for advertisements on mobile devices

is something advertisers are now looking to corner due to the prominence of mobile devices

as a means for consumers to acquire information.

Online video components are another aspect in which advertisers are looking to further

expand, especially when it comes to in-stream video audience targeting. According to

a report for Q1 from video advertisers Brightroll, their respondents said that they would

shift nearly 65% of their ad dollars from television advertisements, and 80% from display

advertisement, to online video.

As the prominence of online advertising continues to rise, companies are striving to reach a

point where advertisers and agencies will be able to utilise one-to-one marketing with their

targeted audience. And in the digital age, when targeted audiences are becoming more

defi ned, it seems that is could become reality.

www.br i tcham.com2

COVER STORY

(Continued from cover)

WOMEN’S FINANCIAL PLANNING . . . . . . . . . . . . . . . 4LORD MAYOR OF LONDON . . . . . . . . . . . . . . . . . . . . 6OFF BALANCE SHEET RISKS . . . . . . . . . . . . . . . . . . . 7SIR MARTIN BROUGHTON INTERVIEW . . . . . . . . . . . 8FUTURE OF FREIGHT ROUTES . . . . . . . . . . . . . . . . 10EMPOWERING YOUTH . . . . . . . . . . . . . . . . . . . . . . . 12FOOD WASTE DISPOSAL . . . . . . . . . . . . . . . . . . . . . 14

THE DRIVE FOR SUCCESS . . . . . . . . . . . . . . . . . . . . 15VISITING BORNEO . . . . . . . . . . . . . . . . . . . . . . . . . . . 16ROYAL WEDDING CELEBRATION . . . . . . . . . . . . . . . 19NEWS AND NEW APPOINTMENTS . . . . . . . . . . . . . . 21NEW MEMBERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22SHAKEN NOT STIRRED . . . . . . . . . . . . . . . . . . . . . . . 23

Kevin Taylor

The royal wedding of Prince William to Catherine Middleton certainly gave everyone the ‘feel good’ factor and marked a very special

occasion for British people all over the world. The Chamber in Hong Kong celebrated this historic event at the Hong Kong Club with

live screening of BBC coverage of the wedding. It was a wonderful evening kicked off by British Consul General, Andrew Seaton

and more than 300 people joined in the fun to wish the Duke and Duchess of Cambridge well in their future.

I recently had the pleasure of hosting our Chief Executive of Hong Kong SAR, Donald Tsang, together with InvestHK at the BT

regional headquarters in Hong Kong. We discussed the business environment in Hong Kong and China and Mr. Tsang was keen to

ensure that we have the government support we need to be successful in our business investments here.

Mr Tsang said: “The presence of multinational corporations underlines the strengths and vibrancy of the Hong Kong economy”.

“Apart from creating abundant high-value-added job opportunities, these companies bring in new management cultures, promote

transfer of technology and enhance local creativity.”

“Local young people benefi t a great deal from these rewarding work experiences, which come with international exposure and great

career prospects.”

“As the Financial Secretary stated in the Budget, we will step up promotion efforts and take the initiative in approaching overseas

enterprises to encourage them to set up business here. We will also provide aftercare services and support to foreign companies

already established in Hong Kong.”

It does quite rightly appear that there is a focus on securing both SME and large multinational investment in Hong Kong. This is

good news indeed for international companies conducting or looking to do business in Hong Kong. I also took the opportunity to

raise the issue of lack of places in quality independent schools here, which, as we all know, can act as a deterrent to professionals

moving here for business purposes. We are still waiting to see progress in this area.

Another key event on the horizon is the British Chamber of Commerce and Standard Chartered Bank Annual Ball 2011 on Friday 24

June at the Grand Hyatt ballroom. This event is the highlight of the Chamber’s event calendar and enjoys a reputation as one of the

best nights out in Hong Kong! This year’s fancy dress theme is ‘Rock Stars,’ so don’t miss this opportunity to don your costume

and party like a rock star!

Once again this is a sold out event, but sponsorship opportunities are still available – and as the highest profi le event in the

Chamber’s calendar, the Ball offers fantastic exposure to a key audience. So please take a look at the different sponsorship

options on the Britcham website. Proceeds from this year’s event go to the KELY Support Group (KELY), a bilingual local charity

that offers non-judgmental, empathetic and confi dential support to young people between the ages of 14 to 24 in Hong Kong - a

very worthy cause.

On membership, I would like to remind you to renew if you have not already done so. There are a number of different categories

including some new ones, so please take a look at the different options on the website. I also encourage you to take a look at the

Britcham Wine Club and to sign up if you are not already a member. Membership is simply the cost of signing up for 1 case of wine!

In this month’s issue of the Chamber magazine, we have lots of interesting articles including one by ipac Hong Kong on women’s

financial planning, another by PWC on the rise of the Chinese economy and an interview with Martin Broughton, who spoke

recently at a Chamber event on the 75th anniversary of BA’s fi rst fl ight to Hong Kong. Enjoy your reading!

CHAIRMAN’SMESSAGE

EditorsIan CruzSam Powney

DesignBill MoAlan WongKen Ng

Advertising ContactCharles Zimmerman

Project ManagementVincent Foe

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

British Chamber of Commerce Secretariat

Executive DirectorCJA Hammerbeck CB, CBE

General ManagerCynthia Wang

Marketing andCommunications ManagerHilary Thomas

Special Events ManagerBecky Roberts

Events AssistantMandy Cheng

Business Development ManagerDovenia Chow

Membership ExecutiveLucy Jenkins

AccountantMichelle Cheung

Executive AssistantJessie Yip

SecretaryYammie Yuen

Offi ce AssistantSam Chan

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

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

The Magazine of the BritishChamber of Commerce in Hong Kong

Soon after the Chinese Revolution in 1949, Chairman Mao commented that ‘Women

Hold up Half the Sky’. This rhetoric in China brought about great change for women in that

it gave women equal legal rights to land, property and marriage. It essentially gave women

a voice and independence. This opened up a whole new world for Chinese women. Fast

forward to 2011 and how have the rights assisted the modern women of Hong Kong SAR?

Despite this, statistics still show that women, across the world and not just in China or Hong

Kong, continue to be at a fi nancial disadvantage. With some 47% of women over the age of

50 being single, by this alone there is a negative impact on their wealth and their fi nances.

But why is this so? One of the main reasons is that women spend on average 14.7 years

away from the workforce, for a variety of reasons; namely child-rearing, relocation to follow

spouses, changing careers and the like. This, along with traditionally lower salaries, adds up

to retirement benefi ts that are only about a quarter of those of men.

As we are aware, from the statistics1, approximately

50% of marriages end in divorce and again women

seem to be the real losers; and in their first year

after a divorce a woman’s standard of living will drop

by approximately 73%. Frightening statistics, but

surprisingly true, not to mention the fact that women

will probably be the main carers of children from a

marriage, and therefore will most likely take on a

more fl exible working-hour role, which in turn is likely

to be lesser paid.

Further, the statistics show that women are expected to live an average of 7-10 years longer

than their male counterparts which means that they must provide for those extra years.

With most married baby boomer women expected to outlive their husbands by 15-20

years, again women are statistically at a fi nancial disadvantage, such that by old age, of the

elderly living in poverty: three quarters are women.

So, whether you are single or married, divorced or separated, at some stage in a woman’s

life, 90% of women will have sole responsibility for their fi nances. Even more frightening is

that 79% of all women have not planned for this…

So what should a woman do?

Firstly, every woman should be able to hold

her own part of the sky up - by this I mean that

every woman should be able to support herself

financially; to provide for her dependents and

to meet her obligations. Compromises may of

course be necessary, but there are certainly goals

which cannot be compromised. For example,

for my mother, the most important thing as far

as I can remember was to educate us three

children. Although we were comfortably well-off,

my mother feared that should something happen

to her, we would not be given the opportunity in

Holding upHolding up half the sky...?half the sky...?

life she wanted so much for us to have. To alleviate this concern, what she did was plan for

the future by paying all our education fees up front, up to the age of 18. Some may not view

this as the most effi cient use of money (certainly in terms of cash-fl ow); however, for her it

put her mind at ease and meant that one of her goals was ticked off from the ‘to-do list’.

Thankfully, her fears were never realised, she could feel comforted that this priority remained

in place throughout our educational years.

The point here is that one should live within one’s means. Of course this may not apply to

you if you are fortunate enough to be born into privilege etc, but for the most of us, living

can be expensive and more often than not, we see clients whose expenditures exceed

their income (regardless of how much income they receive). The best way to do this is put

a budget in place and have a written (fi nancial) plan. Work out your priorities and stick to

them. Knowing that this is in place will be hugely comforting and will mean that it is more

than likely you will realise your goals.

The second thing everyone (not just women) should do is to be pragmatic about

protection and insure against the unexpected. With the Global Financial Crisis still on

our heels, no one could have predicted the impact it had or would have had on us

all. It may have affected some more than others, but what it did teach us was that no

one can determine what will happen next… and with this, sometimes the worst does

happen. As one accumulates wealth over a lifetime, it is important that one secures this

by implementing the necessary insurances, thereby safe-guarding against possible risks.

As such, make sure for example that you have life insurance in place. Check with your

employer that you are entitled to receive benefi ts in the event of a disability or critical

i l lness. Make sure that you have

income protection which replaces

your income so that your obligations

and l i festy le can be mainta ined

i f you lose your job, and ensure

that if something happens to you

health-wise, this can be paid for.

This assumes that you are working

and your employer is contributing

to the possible risks, but in areas

where you are not covered, then

get covered. Nothing is worse than

having worked hard, reaching your

goals and then having it all taken

away from you because you did not

plan properly for the ‘just in case’.

Thirdly, invest correctly. As with your insurances, no one can predict the future, but what we

do know is that some 90% of your asset allocation determines one’s portfolio performance2.

Depending on how risk averse you are, consider the traditional asset classes: cash, bonds

(fi xed interest), property and equities and invest in them by using the four guiding principles

of: diversity, quality, time and value.

Diversification is important in any sound portfolio in that you should not over-expose

yourself to any one investment class i.e. make sure all your eggs are not just in one basket.

By Alison Asome, Client Advisor, IPAC

www.br i tcham.com4

BUSINESS

With regards to quality investments, ensure that the asset has good prospects and can

be bought at a reasonable price (value). Timing is also critical – so try to remove emotion

when investing. Emotional cycles often refl ect the economic cycle and unfortunately as the

markets change so does investor sentiment. This can be managed better by having a plan

and knowing that the market will rebound and that by sticking to your plan, you are more

likely to reach your goals than if you pulled out of the markets altogether.

So to conclude, every woman (and man) can hold up their part of the sky. All you have to

do is just work out which bit you want to hold (what is important to you) and adhere to a

sound Financial Plan.

If you would like to discuss this article, or would like to learn more about ipac, please email

Alison.Asome@ipac.com.hk or visit www.ipac.com.hk

The above information is of general advice only, which has not taken into account the

investment objectives, fi nancial situation or particular needs of any person. Before making

an investment decision, you should speak to a fi nancial planner to consider whether this

information is appropriate to your needs, objectives and circumstances.

1 From the book “Rich Woman”, by Kim Kiyosaki2 Does Asset Allocation Policy Explain 40, 90, or 100% of Performance by Roger G.

Ibbotson and Paul D. Kaplan

5May 2011 • Vol 26 • No 5

London’s Lord Mayor, Alderman Michael Bear visited Hong Kong in April

to continue the government’s close communications with Hong Kong’s government and

business. Arriving after a tour of several cities in the mainland, the Lord Mayor talked

with Hong Kong government representatives and delivered a press statement as well as

speaking at a breakfast briefi ng organised by the British Chamber of Commerce and Hong

Kong General Chamber of Commerce.

The Lord Mayor of London is a post with an 821 year history. Previous Lord Mayors

include a signatory of the Magna Carta, the killer of Watt Tyler, the fi rst Governor of the

Bank of England, and the hero of the popular rags-to-riches tale - Dick Wittington. The

role of the Lord Mayor is to support and promote the City brand; this encompasses the

whole of the UK’s fi nancial and professional services – from accountancy to banking,

law to insurance and including the UK-based maritime services industry. The last seven

consecutive Lord Mayors have made visits to China and Hong Kong.

Lord Mayor Alderman Michael Bear has decades of experience in the engineering

and construction industries and is perhaps most famous in the UK for his role in

the redevelopment and regeneration of the Spitalfi elds area of London. At the joint

Chamber breakfast he introduced his experiences with that project, and detailed

some of the rewards that regeneration can bring to deprived areas.

Although particular conditions on the ground may differ, the broad concept of

regeneration has fairly universal applicability. Hong Kong has long experience in the often

urgent need for urban planning, and the next few years should allow for plenty of urban

development, major plans for which have been incentivised by the large government

budget surplus. Norman Foster’s winning bid to redevelop the West Kowloon Cultural

District looms large as part of the Hong Kong’s self-image, but recently the city has also

been mulling over how to ameliorate conditions in some of its more neglected areas like

Tin Shui Wai and Yuen Long and overcrowded districts like Kwun Tong.

Among the 23 countries he will be visiting, the Lord Mayor explained the importance he

attaches to this region in particular, ‘Chinese and UK Premiers agreed our countries should

be ‘Partners for Growth’, and pledged to double bilateral trade to $100 billion by 2015. My

visit has focused on fi nding ways to meet this goal.’

He sees his fi eld of experience as a key part of continuing economic development, even in

a thriving metropolis like Hong Kong, ‘Urban regeneration is an investment;’ he said, ‘an

investment in communities and businesses – providing the jobs, homes and services that

can transform the peoples’ lives and help them realise their aspirations.’ Characterising

this growth as a ‘renaissance’ of business and community confidence, he recalled his

experiences as Director of Regeneration at Hammerson, where he witnessed urban

regeneration transforming local communities, and improving aspirations in some of the UK’s

poorest areas.

The regeneration of Spitalfi elds has been recognised as an outstanding success story -

a deprived and neglected area being transformed into a hub for business and lifestyle.

‘The development at Bishop’s Square was not just a series of buildings and public spaces

– it was a celebration of the area’s unique feel and heritage. Through employment and

training, it has helped hundreds of people to gain “life chances” which would otherwise

be inaccessible.’ The Lord Mayor also stressed the challenges that faced the 18-year

project, including archaeological and environmental aspects. In fact, the developers took

care to preserve some of the history unearthed, and even incorporated some of the old

materials, such as cannonballs, into the newly paved pedestrian areas as reminders of the

area’s past.

In a press conference later in the day, Mr. Bear continued to stress the vast potential for

UK-Hong Kong co-operation, especially on major construction projects. Besides the

West Kowloon Cultural District, he also noted the contributions of British engineering and

consultancy fi rms in the construction of Chek Lap Kok Airport, the Lantau Link, and several

new MTR stations. He stressed the essential provision in the 21st century of ‘complex

engineering, complex fi nancing, and complex delivery.’

‘It is clear that the UK and Hong Kong have a lot of experience to share. The UK can serve

as a valuable partner for Hong Kong’s many High Value Opportunity projects. And we can

learn from Hong Kong’s terrifi c record in delivering large scale, dramatic infrastructure. We

welcome the opportunity to continue building a strong future for Hong Kong.’

By Sam Powney

London’s Lord MayorLondon’s Lord Mayor Visits Hong KongVisits Hong Kong

www.br i tcham.com6

BUSINESS

By Barry Tong, Partner, Advisory, Grant Thornton Jingdu Tianhua

There have been a string of recent and

highly publicised scandals involving Chinese firms

l i s ted in the s tock exchanges o f Hong Kong,

main land China, S ingapore and the US. These

scandals have highlighted the unfortunate fact that

a major risk in business comes from off-balance

sheet issues. This issue is especially prevalent in

the mainland, where reliable and accurate business,

account ing and lega l in fo rmat ion i s not o f ten

available and where, as a consequence, there is

a heavy re l iance on personal re lat ionships and

consequently on personal integrity.

To avoid major problems, it is vital to examine not only the company’s financial

statements and legal documents, but also to closely review the workforce and the

organisation as well.

Most importantly, contingent liabilities, also referred to as off-balance sheet items,

should be carefully analysed as part of the overall risk assessment. Potential off-

balance sheet exposures include: understatement of tax payments, pending litigations,

corporate guarantees, capital expenditures and fi nancial commitments given to third or

related parties.

Due diligence should therefore be a critical part of the evaluation process before any

merger and acquisition transaction. Essentially, the due diligence process helps identify

issues that have not been disclosed and identify business, fi nancial, legal and human

resources risks that are not immediately visible or obvious. Businesses should look

closely at the entities and people (such as senior management) involved in any given

transaction, examining their background, reputation, track record and litigation history.

How to manageHow to manage “Off-Balance Sheet Risk”?“Off-Balance Sheet Risk”?

Currently, there are many new entrepreneurs in mainland China, with excellent qualifi cations, skills

and good connections. However, these cannot always be taken at face value and businesses

need to verify and authenticate whether such qualifi cations and claims are in fact genuine.

Whether a potential target partner is a listed company, privately-held business or former

state-owned enterprise, focused reviews need to be conducted to gain a deeper insight

into potential risks.

Companies require a level of comfort to support strategic and investment decisions. Issues

such as the target partner’s reputation, history, background, connection, network, business

ethics and individual management’s integrity and actual infl uence in its local environment

can be the key to a successful deal.

However, it is also necessary to identify potential problems, such as labour disputes,

litigation history, undisclosed indebtedness, significant capital expenditures and

operat ing commitment and cont ingent l iabi l i t ies, and potent ia l regulatory or

environmental breaches. Equally important are bribery-related considerations (e.g.

employees taking kick-backs or rebates) or potential money laundering exposure.

Off-balance sheet risk can be manageable if a company is willing to adopt a robust

approach to due diligence.

Negative information acquired through due diligence can lead to more favourable

negotiation terms for the acquirer, and can ensure that deals are structured to reduce

the identifi ed risks.

Due diligence is particularly cost-effective when undertaken in the early stages of a

transaction, because it allows businesses to identify problematic issues quickly before

committing considerable fi nancial and management resources to the deal. It can identify

potentially serious failures in disclosure which can lead to expensive delays, further

negotiations, cancellations or, most costly of all, damage to corporate reputation.

And for the end: Grant Thornton Jingdu Tianhua is an integrated part of Grant

Thornton China that offers a full range of assurance, tax and advisory services to

privately held businesses and listed companies of all sizes. For more information

please visit www.grantthornton.cn. Contact: Barry.Tong@cn.gt.com.

7May 2011 • Vol 26 • No 5

BUSINESS

Interview with Sir Martin Broughton

On the 75th anniversary of British Airways’ first flight to Hong Kong, Sir Martin

Broughton, Chairman of British Airways came here in late March, and gave a lunchtime

speech to the British Chamber of Commerce. Sir Martin called for a third runway at Hong

Kong’s Chek Lap Kok Airport, warning that Hong Kong should not fall into the trap that

London did in failing to allow for increasing air traffi c demands. In the face of small but vocal

opposition, the proposed third runway at Heathrow Airport was jettisoned last year, to the

widespread dismay of the aviation sector and British business groups generally.

Chek Lap Kok Hong Kong International Airport

Facts and Figures• In 2010, 50.9 million passengers used the Hong Kong International Airport (HKIA), and 4.1

million tonnes of air cargo passed through Hong Kong.

• HKIA is connected to about 160 destinations, including around 45 in mainland China,

through about 900 daily fl ights by over 95 airlines.

• HKIA is the busiest airport for cargo throughput and the third busiest airport for

international passenger traffi c in the world.

Chek Lap Kok commenced operations in July 1998. Terminal 2 opened in June 2007, and

there is currently a HK$4.5 billion programme underway to enhance capacity and improve the

airfi eld at Terminal 1. HKIA is also carrying out engineering feasibility and environmental studies

for building a third runway.

Third runwayAs one of the busiest airports in the region, HKIA has seen a steadily increasing flow of

air traffic over the last few years. Nearby airports in Shenzhen and Guangzhou have also

seen great increases in traffi c, not just in competition with Hong Kong but also from direct

agreements with an overburdened Chek Lap Kok. There have been growing calls from public

and private sector fi gures for a third runway at HKIA in order to ensure that Hong Kong retains

its edge as a key global and international business hub.

The Hong Kong Ideas Centre, a non-profi t organisation, estimates that by 2017 Chek Lap

Kok will be saturated and may have to turn away fl ights. They also note with concern that an

airport runway usually takes around 10 years to build. Mr. Patrick Lau, HKIC’s Airport Study

Group convener and former Director of the Lands Department, explains the immediacy of

the need, “Given the intense competition now facing us, we contend that Hong Kong has to

address the third runway issue with a sense of utmost urgency, otherwise our competitive

advantage will be diminished”.

The government is currently pursuing a public consultation on the construction of a third runway.

Building a third runway will be a major engineering project involving land reclamation, and will

provide a great number of additional jobs on the largely undeveloped island of Lantau. The existing

12.48 km² airport site was created in the 1990s by levelling the tiny Chek Lap Kok and Lam Chau

islands and reclaiming adjacent seabed, adding nearly 1% to Hong Kong's total surface area.

Up in the Air

Interview Background: Similar to Richard Branson, Sir Martin went

straight from a secondary education into a high-

flying business career. Sir Martin joined British

American Tobacco in 1971, ultimately becoming

Chairman and Chief Executive in 1998. In 1999,

he became an independent director of the British

Horseracing Board, eventually succeeding Peter

Saville as Chairman in July 2004, at which point

he retired from his roles at BAT. Though a lifelong

Chelsea supporter, Sir Martin served as Chairman

of Liverpool F.C. during 2010.

Aviation:Are carbon taxes on airliners and/or passengers effective in hastening development of

viable, cleaner innovations in the airline industry?

I am a great believer in emissions trading but not in carbon taxes. Carbon tax is a very

blunt instrument. Emissions trading allows people to focus on the cheapest, most

economically rational means of reducing carbon. For example, because of the UK’s

climate solar energy is by far and away the most inefficient natural energy source

there, yet the UK government still subsidises solar energy schemes. Emissions trading

eliminates impractical measures.

Airlines are already doing a huge amount in terms of reducing carbon output. The airline

industry accounts for about 2.5% of carbon emissions; we also contribute about 8% of

global GDP. Aviation is a social and economic good. So, you have to think about how to

reduce carbon whilst allowing growth in the aviation industry. And there are some very

simple procedures which can contribute quite significantly. For example, continuous

descent rather than stepped descent greatly reduces fuel consumption, and now airliners

are introducing much more fuel-efficient engines. Personally I think that a good way to

improve both fuel-effi ciency and safety globally would be to withdraw all passenger aircraft

over 25 years old.

We are at the moment working with a company called Solena making jet-fuel out of

household waste. There is a real possibility that by 2030 we could have the majority of jet-

fuel coming from bio-fuels. If you had asked me about that fi ve years ago, I would have said

that it couldn’t happen in the next century.

Although British Airways is a very international company, Heathrow is still very

much your base. Do you see it remaining so in the future?

Yes. Although we can’t grow it , i t is our hub. We tr ied for several decades to

have a dual hub – both Heathrow and Gatwick. Gatwick is a very good South-

West reg iona l a i rpor t ; i t ’s not a hub. Regret tab ly, I th ink we’ve proven that

beyond doubt.

We could certainly have a hub elsewhere in Europe. If in the future North America has

genuinely open-skies, we could have a hub there too.

Sir Martin’s speech to the Chamber waspart of the Captains of Industry series, sponsored by KPMG.

www.br i tcham.com8

BUSINESS

Education:Should one need a university education to progress

in a high-level business or political career?

No. It is increasingly expected of young people, but I think

it’s time to think again about direct entry into demanding

careers – which is in itself a form of tertiary education.

There are ways to become, for example, a chartered

accountant without doing a degree – but the perception is

that there aren’t, and therefore less than 2% of accountants

have actually arrived through those routes of entry. We do

need to catch more numerate students at an earlier age,

especially if they plan to go into a career in which they will

gain a professional qualifi cation in any case.

I didn’t do a degree but I think that I actually got a head

start over a lot of other people in my fi eld. I’m all in favour

of education and of tertiary education; I’m not in favour

of promoting tert iary education as a mechanism of

keeping people off the unemployment register. And one is

suspicious that too much of it is done for those purposes.

There are very good reasons for going to university and I

would encourage anyone to go to university; there are also

other options which can be equally dependable. At British

Airways we’ve just restarted our apprenticeship system,

launching two brand new apprenticeship schemes this time

last year. This is a step forward I think.

There has always been a mismatch between what

business wants from a school leaver or university leaver

and what is delivered by the education system. The CBI

spends a lot of time trying to align ‘output with input’.

And let’s not forget that, in the UK at least, business

spends ten t imes what the government spends on

tertiary education.

Football:In what key ways do you see globalisation affecting/

changing football culture?

It has changed it - it’s no longer a local sport. If you look

at the Premier League, the players are international, the

managers are international, the owners are international. It

has been dramatically changed by the globalisation process.

Clubs have to focus on who their fan-base is. I think there’s

still too much of a tendency to think of the fan-base as being

the people who come to watch the games at the stadiums.

I feel that some of the large clubs don’t focus enough on

their global fan-base, perhaps the largest part of which is

here in Asia. Where you already have an entrenched football

culture, such as in South America, people tend to support

their local teams, but in countries like China which don’t

have such a signifi cant football heritage, fans often support

both a Premier League club and perhaps a local club as

well. That’s a big fan-base which the Premier League clubs

would do well to dedicate more time to.

Smoking and Gambling:In terms of public and government acceptance in the

UK, smoking and gambling seem to have followed

inverse trajectories. Is that kind of shift in public

consciousness entirely rational?

No. Smoking has been demonised. If you look at the

courts in the UK, you will see that around half of all

criminal cases are alcohol-related. Scarcely one is

smoking-related. But smoking is banned in pubs while

drinking is not. This is because smoking is a minority

occupation while drinking is a majority occupation.

Legal ly one is not a l lowed to discr iminate against

minorities…except in the case of smokers where one is

encouraged to!

Gambling is one area where the British government took

the opportunity to capture a global leadership position.

Even today, in other European countries betting tends to be

strictly government-organised.

Is horse-racing catching on in China?

We think there is rising interest in China. There are strict

laws against gambling in China, but that doesn’t have to be

a problem. Horse-racing is a hugely popular phenomenon

in Dubai and there’s no gambling allowed there. People

who go to the races in Dubai can bet on which horses

will win in several races, but no money is involved – that’s

included in the ticket price. They can still win money of

course – so it’s more like a lottery in some ways. That could

be an option in China too.

9May 2011 • Vol 26 • No 5

HONG KONG, 22 March 2011 – China is expected to overtake the

US, and dominate global trade by 2030. Together with China, emerging economies like

Indonesia, Malaysia, Nigeria, Saudi Arabia and India are also poised to play an increasingly

important role in the top sea and air freight routes in 20 years. These fi ndings are revealed in

the latest PwC “Future of world trade: Top 25 sea and air freight routes in 2030” report.

In the report, PwC economists use special modelling techniques to project bilateral trade –

requiring either sea or air freight – between 29 economies over the next two decades. The

key fi ndings reveal four key areas that could present signifi cant opportunities for transport

and logistics (T&L) fi rms:

• Trade within the Asia-Pacifi c region.

• Trade between emerging and developed economies – inspired by Germany/China

• Trade between emerging economies, such as parts of Asia and Latin America

• Trade between China and Africa

“Transport and logistics companies will need to adapt to the change in trade patterns to

ensure they maximise their profi t opportunities. Planning for the trends that will shape the

trade landscape over the next 20 years would benefi t a company in this highly globalised

marketplace. The ‘first mover’ advantage is likely to be important, and establishing a

presence before your competitors on a route that becomes a signifi cant global trade fl ow is

likely to be highly valuable,” says Yael Selfi n, PwC’s Head of Macro Consulting. In fact, the

changing picture of global trade has already been providing opportunities and challenges for

those operating in the T&L industry. For example, 73% of T&L CEOs say they are changing

their strategies to respond to the potential growth in emerging markets. “Many growth stories

remain in Asia, with China still being considered as the epicentre of global trade. In the recent

PwC’s 14th Annual Global CEO Survey, most CEOs, regardless of the sectors in which they’

re operating, are looking to Latin America and Asia – and to China in particular. 39% of CEOs

think China is one of the three foreign countries which is most important to their company’s

China set to overtake the US andChina set to overtake the US anddominate global trade by 2030dominate global trade by 2030Emerging and developing economies to make up significant share of global outputEmerging and developing economies to make up signifi cant share of global output

growth – and many of the customers they have are the T&L industry’s players,” says Alan Ng,

PwC’s Transportation and Logistics Leader for China and Hong Kong.

Global trade suffered a sharp decline in 2009, but bounced back robustly over the past

year. It’s estimated to have ended 2010 above its 2008 peak. Trade as a proportion of world

GDP is expected to increase in the short term, as the world economy gains strength and

confi dence. But in the coming years, the trade landscape will undergo fundamental change,

as the emerging economies begin to play an increasingly critical role in the trade landscape.

The table below shows how, by 2030, China will have moved into a dominant position,

appearing in 17 of the top 25 trade pairings. Also in the mix are some emerging countries

such as Indonesia, Malaysia, Nigeria, Thailand, Saudi Arabia, Brazil, India and UAE.

PricewaterhouseCoopers Ltd., 22/F, Prince’s Building, Central, Hong Kong

T: (852) 2289 8888, F: (852) 2810 9888, www.pwchk.com

From PricewaterhouseCoopers

Top air and sea freight bilateral trade pairs in 2030 Rank Air and sea freight bilateral trade pair Trade value (2009 US$m) 1 China United States 594,741

2 China Japan 336,183

3 China Korea 281,140

4 China India 263,063

5 China Germany 201,382

6 Japan United States 189,785

7 China Singapore 178,291

8 China Indonesia 169,356

9 Germany United States 167,467

10 China Malaysia 162,376

11 China Nigeria 151,570

12 Germany United Kingdom 144,131

13 United Kingdom United States 143,725

14 China Thailand 141,201

15 China Saudi Arabia 140,320

16 China Brazil 136,295

17 United States India 125,826

18 China United Kingdom 121,603

19 China United Arab Emirates 120,318

20 China Australia 117,340

21 Korea United States 116,741

22 Hong Kong United States 111,972

23 China Netherlands 102,373

24 China France 92,581

25 United States Brazil 90,756

Retains position Moves up Moves down New entrant Source: PwC projections

www.br i tcham.com10

BUSINESS

»»»

Nearly three years after the global financial

crisis, countries that previously wielded a great deal

of clout such as the US and European economies are

still feeling the ripples. Meanwhile here in Asia, the

picture is very different. China continues to be a thriving

economic superpower, fi nancial centres such as Hong

Kong and Singapore are seeing steady growth, and

developing economies such as India, Indonesia and

Vietnam are seeing an influx of foreign investment.

Ian Cruz speaks to Andrew Walker, Economics and

Business Correspondent, BBC World Service to

explore the effect which the power shift towards Asia is

having on the rest of the world and what are some of

the impacts of the rebalancing of the global economy.

Trade and investment between countries within Asia is on the rise, and the East now seems less reliant on economic activity from the West. Are Asian economies still looking to the West for business, with the increasing opportunities here in Asia?

In one sense, Asian economies don’t have much choice. They will have to look for

opportunities outside the large developed economies, and I include Japan in that, as well as

“the West”. Consumers in those countries will be constrained by high levels of debt and by

the tax and spending consequences of government’s trying to stabilise their debts. Western

consumers are not going to be the reliable source of export growth they once were. Asia by

contrast, excluding Japan, is likely to enjoy stronger economic growth with a growing army

of consumers keen to improve their standard of living.

Having said that, I think you can exaggerate Asian economies’ de-coupling from the West.

Last year, the US and the EU were the destination for 38 per cent of China’s exports. That’s

about the same as in the early 2000s and higher than in the 1990s. There was a short

period when it was higher, a few years before the great fi nancial meltdown and probably will

continue to decline. I do think, however, that the traditional western markets are going to be

important to Asia for many years.

Do you see China looking to reshape the global economy and its international systems to better serve its (and Asia’s) needs, or will China be integrating itself to signifi cantly bolster the global economy as a whole?

China will pursue its own interest as its leaders and business people perceive them

– what country does anything different? How much benefit that brings the global

economy depends on how much Chinese consumers come to be a growing source of

demand for other countries’ exporters. Private savings rates in many Asian countries

are very high. If they come down as China grows, others will benefit from increased

sales. In international fora such as the IMF, China will undoubtedly seek to become

more influential. It already has made some gains in terms of share of the IMF’s complex

weighted voting system, but not very much and I am sure they will keep up the

pressure for more.

RebalancingRebalancingThe Global EconomyThe Global Economy

Many people, particularly in the US, fear not just the economic implications of China’s economic rise, but the political ramifi cations as well. China’s tightly managed exchange rate has already been a point of strong contention. What other issues do you feel need to be resolved in order to avoid political confl ict, and create a mutually benefi cial global economy?

The exchange rate is an important issue as you suggest. Allowing the currency to rise

certainly could help moderate global economic imbalances by encouraging China to import

more. It would also help China with its infl ation problem by making imported goods cheaper.

On the other hand there is the concern about possible job losses in export industries. And

many critics of the US say it’s the Federal Reserve’s monetary policy that is the real cause of

trouble in the currency markets, because it has weakened the dollar.

Some would say that China consolidated its position as an economic superpower due to the way in which it handled its economy during the global fi nancial crisis. Would you agree with this, and what other factors have contributed to putting China in this position?

This raises a very contentious issue. Many people say that China’s actions before the

financial crisis caused it. I wouldn’t put it as baldly as that. There were plenty of other

culprits. But there’s a good case for saying that the China’s high savings and investment of

its rising foreign exchange reserves provided the fuel for the crisis. China’s excess liquidity

proved to be a very fl ammable liquid. It was the US and other housing and fi nancial markets

that put a match to it.

Once the crisis came, you could say that China’s global economic status was reinforced by

the fact that growth slowed and then quickly accelerated again. It helped that China had a

low level of government debt, so it could use the budget to stimulate the economy without

having to worry unduly about the consequences. What a contrast with the US, Japan and

much of Europe, where the recovery has been relatively sluggish and government debt is a

deepening problem.

Which current issues do you see as being pivotal to the future shape of Asia’s role in the world economy?

Whether or not the global recovery continues with its current two-speed performance:

strong in the developing world and less convincing in the rich world. My own guess is

that debt, private and government, in the developed world will be a strong headwind to

economic growth for some years. Asia will need its own consumers to spend more; dare I

say – to become a bit more western. That is an essential element of the global economic

rebalancing that the IMF is trying to facilitate.

Some of the rebalancing is already underway. The rapid growth in consumer spending in

the US, Britain, Ireland and other countries has ended and their governments are trying

to stabilise their debts. Unless there is a massive surge in business investment in those

countries, which seems unlikely, that will mean smaller international trade defi cits, which in

turn means smaller trade surpluses for others, including large parts of Asia. If they want to

continue their prodigious recent growth, the chances are they will have to start consuming

more of what they produce at home.

Interview with Andrew Walker, BBC Economics and Business Correspondent

11May 2011 • Vol 26 • No 5

BUSINESS

Much has been said about the state of our young people in Hong Kong,

in particular, their lack of self-awareness, self-direction, engagement

in society, as well as readiness to be part of the adult world. Whether it’s

issues of poverty, technological advancement, family breakdown, drug

abuse or problems with the current education system; there has been

much debate about how these variables are impacting our young people’s

development and how our systems are failing our youth.

As the older generation continues to mature and the birth-rate in Hong

Kong continues to decline, there is also a genuine concern from the public

about the lack of locally skilled and critical talent, which is necessary to

ensure the prosperity and sustainability of our future society. According to

the Hong Kong Census and Statistics Department, the university admission

rate for local students is only 15% to 18%, which suggests that only a

minimal proportion of our local Chinese students are receiving degrees to

prepare them for their future.

Some have also argued that youth today seem disconnected from society

and lack a sense of family, community and social structure. Others have said

that there exists a real disconnect between our youth and decision-makers

within our systems, a growing apathy which is also contributing to a sense

of mistrust and an unwillingness to work together. For their part, many

young people in Hong Kong feel that while policy makers think that they

are making decisions in the best interest of the young, the reality is that

they often don’t genuinely know what young people want, nor are they

even interested in consulting them.

The British Chamber of Commerce and Standard Chartered Bank have chosen KELY Support Group to be the benefitting charity for the 2011 Annual Ball. We asked Chung Tang, Executive Director, to talk about the issues facing young people growing up in Hong Kong today.

By Chung Tang, Executive Director of KELY Support Group

www.br i tcham.com12

KELY Support Group (KELY) is a non-government funded charity which was

established 20 years ago for young people with drug and alcohol addiction

issues. Through the provision of various programmes and services, we reach

out to over 35,000 local Chinese, ethnic minority and English-speaking

youth in Hong Kong. Whether it’s through our harm reduction education,

peer support, circus skills training, our helpline, or our youth forums,

young people have told us that what they are searching for is simply what

most young people around the world want: a sense of belonging, family,

community, healthy relationships, and solid education and employment

opportunities, just to name a few.

Although what our youth is searching for seems very basic and attainable to

many, the reality is quite the contrary because the situation in Hong Kong

has become so dire for our youth compared to 10 years ago. Despite the fact

that Hong Kong’s economy continues to grow, a large number of our youth

are still not reaching their goals and continue to fall through the cracks.

According to the Hong Kong Council of Social Services, poverty and

unemployment amongst young people is on the rise. Based on the statistics

compiled by the Council, poverty rose from 15.4% 10 years ago to 20% in

the first half of 2009 – an indication that over 180,000 young people were

living on the poverty line in the city. Further statistics from the government’s

General Household Survey have indicated that in 2005, the number of students

who had earned an associate degree or high diploma and were receiving

Comprehensive Social Security Assistance (CSSA) was 500. For 2011, the number

receiving CSSA with the same level of education is a shocking 900 students.

There has also been an increase in the number of young people emerging

from families experiencing social breakdown. The bi-annual social

development index released by the Hong Kong Council of Social Services

“found that family solidarity and child welfare in Hong Kong have been

declining steadily over the past 10 years”. According to the Council, young

people have increasingly grown up in families with either separated or

divorced parents – with this number having increased from 97,000 to

224,000 families in the last 10 years; an indication that our young people

are receiving less support at home.

Drug abuse is also an on-going issue facing our youth. According to the

2009 Report of the Task Force on Youth Drug Abuse, Hong Kong has seen

an alarming rise in the number of abusers below the age of 21. The report

states that there has been a steady increase with younger fi rst-time abusers

under the age of 16, as this group has grown 57.8% from 2006 to 2008,

compared to 29.5% for youth aged 16 to 20 over the same period. Another

disturbing trend is the fact that an increasing number of young drug

abusers are female, many of whom are also fi rst time users. The youngest

reported drug abuser in Hong Kong was 10 years old. Based on the most

recent statistics from the Narcotics Division, the newly reported drug abuse

cases by age for 2010 is 10.5% for those under 16 years, and 36.8 % for

those between 16 to 20 years of age.

In the face of all the compounding issues affecting our youth, KELY remains

optimistic when it comes to how we can support them and help them see

their own potential. Our mission is to empower young people through non-

judgmental peer support to help them make informed choices. Using a peer

support and self-help approach, we work with vulnerable youth to help

them see failure as opportunities, and to always value themselves and what

they can contribute to society.

KELY also places heavy emphasis on helping youth develop strong self-

esteem through “doing”. Our work is all about creating accessible

platforms for young people to obtain important skills such as: leadership,

communication, negotiation, and teamwork; all of which help to foster

a sense of achievement and contribute to positive self-esteem building.

Whether it’s having our youth organise large scale youth forums or

multimedia art productions, young people are guaranteed the opportunity

to learn new things about themselves and obtain knowledge and expertise

which will help them in meeting their future goals.

For more information about KELY, please click onto www.kely.org

13May 2011 • Vol 26 • No 5

By George Woodman, Director Teng Hoi Conservation Organisation

‘The elephant in the living room’, that wonderful English idiom, that refers to a

truth that is being overlooked, even though it’s as obvious as an elephant in your living

room. The elephant we are illuminating here that has been almost overlooked until now

is the importance of food waste in Hong Kong in the context of waste management. Our

government maintains and publicises excellent statistics for the SAR that includes fi gures

for our daily disposal needs and a breakdown of the types of waste. Food waste has

typically made up around 40% of all domestic waste over the last few years, with around

one third of the total waste going into landfi ll.

When food waste is buried in a landfi ll it decays anaerobically (in the absence of oxygen)

generating gases such as methane, hydrogen sulphide and carbon dioxide. Some of the

gases smell bad and lead to complaints from local residents. Less well-known is that

methane is a potent greenhouse gas: each tonne of methane is equivalent to around 25

tonnes of carbon dioxide in its Global Warming Potential, and that methane from landfi lls

has contributed up to 12% of

Hong Kong’s emissions in recent

years. Food waste is therefore

a component of our solid waste

that generates signifi cant issues.

An ElephantAn Elephantin the Living Roomin the Living Room

An important key to Hong Kong’s waste problem is to separate putrescent waste from all

other waste. Then there would be no need to collect rubbish so frequently. In fact, once the

putrescent waste has been separated, then recycling of the non-putrescent waste such

as plastic and metal can be much more effi cient and pleasant. However, the diffi culty of

engaging the public with this has confounded policy makers.

Bokashi Composting is a Japanese solution that has been successfully used in other

countries to separate food waste. Normal putrefying microorganisms are out-competed

when food waste is placed into an airtight container with Bokashi, which contains other

microorganisms that ferment the food waste. Bokashi composting is a technique that can

buy time for more sensible handling of food waste. In our work with schools, we’ve kept

food waste in sealed boxes for periods of many months. When opened, there’s a distinct

smell of vinegar and pickles, but it’s not the awful smell one would expect. The other great

advantage with Bokashi composting (when compared with worm composting) is that it can

handle nearly all types of food waste, including cooked and uncooked meat and fi sh as well

as vegetables and carbohydrates such as rice and noodles. It is possible to imagine a Hong

Kong where domestic waste is collected once a week from fl ats and homes in a sealed box

where it is safely and hygienically fermenting, free from vermin and unpleasant smells. Such

systems exist elsewhere: in east London a charity group has successfully run a scheme that

handles over 80% of the residents of tower blocks that are not too dissimilar to the mostly

urban environment of Hong Kong.

One common misconception with Bokashi composting is that the end result is a

container of compost. It’s not quite as straightforward as this: the pickled food waste in

its container needs to be either digested in a purpose-built machine or buried into soil

where the soil microorganisms fi nish off the decomposition. The end result in both cases

is a rich compost.

There is now a need to demonstrate that Bokashi composting is acceptable in the Hong

Kong community and hence underline its potential to resolve one of the thorniest issues of

our waste management problem. Community acceptance of a new way of handling waste

is a very important component of an effective solution. Teng Hoi is currently working with

Britcham along these lines to help develop educational and practical approaches to the

food waste management problem that are suitable for Hong Kong.

Perhaps one reason why we’ve managed to miss

this elephant in our living room is the stupendous

effi ciency with which the Food and Environmental

Hygiene Department (FEHD) deals with our waste and, more importantly perhaps, at no

charge to the public. By contrast, in many developed countries one has to pay directly for

domestic waste disposal and there is a fi nancial incentive to ‘Reduce, Reuse, Recycle’. So

why is Hong Kong so different? One reason for the evolution of Hong Kong’s system is that

putrescent waste (which is mostly waste food) is a potential health hazard and therefore the

maintenance of high standards of cleanliness has facilitated the evolution of a zero-charge

system to avoid fl y tipping and other non-compliance issues. Whatever the reason, the Hong

Kong public has been spoilt by our marvellous FEHD. The rapidly-fi lling landfi lls have been

reported in the newspapers over the last decade or more – yet Hong Kong’s volume of waste

has steadily risen. By contrast, Taiwan reduced its waste stream by 50%

over the same time period.

Hong Kong’s Looming Food Waste ProblemHong Kong’s Looming Food Waste Problem

www.br i tcham.com14

ENVIRONMENT

Here in Hong Kong, those looking for the thrill of speed will be sorely disappointed.

However, considering the high profi le of motor sports in Asia, with races like the Japan

Grand Prix and Macau GP, and the relatively recent addition of the Singapore GP, the

potential for the growth of motor sports here in Hong Kong and around China is something

that hadn’t escaped the attention of Richburg Lotus CEO, Eric Wong. Through a new

racing scheme initiated by Wong, drivers in China and Hong Kong have recently been

given the opportunity to experience some of Lotus’ most powerful machines as they are

meant to be experienced – fast. “Lotus

has a long history in racing,” says Wong.

“The brand has gotten stronger through

its involvement in motor sports in the US,

Europe and in Asia, and so we’d like to

take the same approach in China and

Hong Kong.”

Much l ike the brand he represents,

the man behind the scheme, business

entrepreneur Eric Wong, has a six cylinder

past. Trained in the Hong Kong Police Force prior to his current ventures, he has applied

the same regimented approach he learnt on the force to conducting his business, resulting

in a very successful and illustrious career. “Through my police career, I’ve learnt how to

turn ideas into action - how I successfully execute my missions, and how I conduct my

contingency plan. In the police, we learned two sayings – fi rstly, ‘no pain, no gain.’ You

need to put in a lot of commitment if you want to be successful. The second is – ‘failing

to plan is planning to fail.’ These are the fi rst cautionary words I learned when I joined the

tactical unit.”

This steadfast attitude has led Wong to be awarded the Young Entrepreneur of the Year at

the 2007 DHL/SCMP Hong Kong Business Awards, as well as a list of seemingly endless

businesses involvements outside of Lotus, from restaurants and consulting, to NGOs and

high tech engineering. This is all on top of his role as a published writer, radio personality

and social commentator. “I’m a man of the future. I’m not a man of history so I don’t keep

my own records. I’m a record breaker, I create my own legend. I never look back. The future

is more fascinating than looking back.”

It took this unique business foresight for Eric Wong to truly foresee the true potential for

both motor sports and Lotus in Asia. On the Mainland, they are taking up motor sports

quite fast as can be seen in the growing

infrastructure for racing, with seven

racing tracks around China and another

two on the way which are being built to

international standards.

The fi rst Lotus race took place last March

at the Guangdong International Circuit with

nine cars taking part, and involving drivers

from different walks of life – entrepreneurs,

professionals, engineers – from Macau,

Hong Kong and China. Given the initial

The Drive for Success

success and positive response from sponsors, as well as the positive media coverage it has

been garnering, Wong believes the races will mature within the next twelve months.

Though somewhat of a thrill-seeker himself, Wong is not just pursuing his desire for speed,

or indeed his wish for business success with this venture, but is actually attempting to

develop motor racing as a viable sport for people in Hong Kong and China to enjoy. “We’re

not creating a hobby, we’re creating a sport,” says Wong. “You need a lot of training and

commitment, but it’s also a lot of fun. We believe that teamwork on and off the

track – during training, networking and building team spirit – can provide a bond

between owners, all with the aim to create good sport.”

Sponsors for the Lotus team have reacted positively, with companies such

as Nokia, Yokohama and Speedmaster getting involved, while the increasing

media support and market exposure shows promise of more business to come.

With regards to Lotus owners, Lotus’ base in Guangdong houses facilities and

a VIP lounge for car owners and their families to get involved and comfortably

immersed in the racing experience, with an eye to creating branding valuation

that will hopefully bolster the number of Lotus owners on the mainland and

sustain the brand’s racing scheme. Wong feels that it is important that this close connection

with the motor sports world will offer a totally new type of ownership experience for those

with a Lotus.

While the drivers for the Lotus team are made up of people from Hong Kong, China and

Britain, Kwok hopes that even more homegrown interest will help spur the sport forward

as they look for more drivers in the future. This is why, in addition to organising the team

and their races, Wong has also started a

school for racers, where potential drivers

from around the region can be developed

and hone their skills in the burgeoning

sport, while being coached and advised

by professional drivers in each session

on skills, experience and how to improve

competitively on the race track. Having

already built a strong foundation for motor

sports in such a rapidly growing economy

as the mainland, the future for the sport

and for Lotus looks bright.

By Ian Cruz

15May 2011 • Vol 26 • No 5

LIFESTYLE

When Richard Watts and wife Akiko won a holiday in the auction at last year’s Britcham Ball, they had little idea of all that Borneo held in store for them...

A slight sense of curiosity combined with

alcohol-inspired enthusiasm at the always

splendid fun Annual Ball in June last year, saw

me outbid all others in one of the items in the

British Chamber’s Annual Ball. My wife, Akiko,

and I had obtained a 12 day tour of Borneo,

generously sponsored by HSBC. The Borneo

jungle is famous not only for its orang-utans but also for the head-hunting Iban tribe, man-

eating crocodiles, malaria, snakes, leeches and all sorts of other unspeakable creepy-

crawlies. I could not help but ponder, on the morning after the Ball, on how well I had done!

I also wondered how long could we put this trip off… The voucher seemed to be good for

one year. We went in March.

There was no gentle easing into our new environment. We were met at Kuching Airport by

our genial guide at 9:30 pm, conducted to our hotel, advised that we would go down river

to Bako National Park on the next day and that we would be collected from the hotel lobby

at 6am. By 6:45am, whilst sitting in a hut by the river waiting for our boat, I had my fi rst

mosquito bite despite having been drenched in some special OFF, having anti-mosquito

patches on my shirt and a high-pitched buzzing contraption dangling round my neck. ‘What

on earth are we doing?’, I thought.

The Bako jungle trip was no relaxing stroll. They have many trails. Our very knowledgeable

guide, formerly a forester, took one look at me and decided we would be best on the

easiest one, a mere 800 metres long. A bagatelle, I thought to myself. How wrong I was!

Though we started on a relatively fl at boardwalk, it soon disintegrated into a rocky, slippery

path, with tree roots everywhere, which seemed to be permanently climbing up or sliding

down. The guide compassionately decided that we should drop down from the trail to the

foreshore, where the tide was out, and return on reasonably fl at terrain. We saw wild pigs

charging around and a troop of long-nosed, pot bellied proboscis monkeys, having their

breakfast. They are comparatively rare. We also spotted a fl ying lemur trying to disguise

itself as part of a tree – presumably because it is nocturnal, a few long tailed macaques, one

with a baby “on board” and almost at the end, half a dozen or so orang-utans, languorously

moving through the trees or just hanging around.

Next morning was a visit to the Semenggoh

Nature Reserve, primarily to see the orang-

utans and we saw plenty. We were advised

not to make eye contact but it was diffi cult

not to do so. They are engaging animals and

I would have thought that if they attacked

any people, they probably deserved it. That

afternoon we boarded the longboat to head

up the Lemanak River for 4 hours to stay with

an Iban family in a longhouse for the night.

Let me fi rst say that the hospitality of the Iban people was overwhelming. We were told that

15 families stayed in the longhouse and we were offered one of two areas for our “bed”. We

had a “deluxe” area because a mosquito net was somehow erected round our mattress,

lying on the fl oor. I had been warned that I would be expected to drink copious amounts of

the native rice wine, known as tuak, and prepared myself

for the task ahead with a few Tiger beers. I had also been

tipped off that I may well be expected to sing. Now, this

was OK with me as I actually like singing. Whether anyone

else likes it is totally irrelevant to me. Unfortunately, and

inexplicably, no singing was called for at all. Instead we had

dancing, which I am not good at and don’t like at all. The

village Chief came to watch from his chair (the only one I

saw in the longhouse) but seemed strangely unimpressed

as he sat there impassively smoking his cigarettes.

Akiko and myself had a somewhat restless night. I don’t think either of us slept. It was hot

and it was also noisy with dogs barking, cocks crowing, pigs snorting and 15 families doing

whatever they do at night time. Next morning brought my attempts with a blowpipe and

two lads with a cock-fi ght demonstration, then we were on our longboat waving goodbye.

That was basically the end of the Sarawak tour. What would Sabah bring?

We were met at Sandakan Airport and taken straight to the Sepilok Orang Utan

Rehabilitation Centre but we only saw a few so on we went to the jetty for our cruise up

the Kinabatangan River. Now this was more like it. This was a boat with a roof and proper

seats and two 150 hp Yamaha outboard motors at the back. We headed to a lodge at Abai

for lunch with choices of chicken, prawns, and fi sh plus rice and fruits. Very pleasant it was

as well. Then back on our launch to head further up the mighty Kinabatangan to another

riverside lodge, 61 miles up river from where we had started. Before dusk we investigated a

small tributary river and saw wild pygmy elephants, monkeys, snakes, lizards and a myriad

of birds, some of them startlingly beautiful.

On the next day we headed by boat back to Abai, where we had had lunch the day before.

Akiko and I each planted a tree by the river. When it grows it will be transplanted to a part of

the rainforest denuded by illegal loggers. The two highlights for me here were taking a night

cruise to see the fi refl ies, which are in fact beetles, in the ‘Christmas tree’. Amazing and

beautiful and unlike anything we had ever seen before. The other was the night walk on the

(fl at!) nature boardwalk with powerful torches to spot all the wild life having its beauty sleep

as well as nocturnal creatures getting on with their businesses.

By the way; I nearly forgot. We did spot just one man-

eating crocodile. We saw it on our last jungle river day and

it was almost 18 inches long at the most!

Next day we checked in at the luxurious Shangri-La in Dalit

Bay. It really had been a marvellous experience but it was

lovely to be back to air-conditioning, hot water, flushing

toilets, ice cubes, etc.

We wonder what’s in the auction this year……………….

By Richard Witts

www.br i tcham.com16

LIFESTYLE

BorneoBorneoJungleJungle

Thank you for your continued support

Introducing the British Chamber’s

Sterling MembersSterling Members

Elegance and style marked the meeting of the British Chamber’s Wine Club on the 13th of April. The Marriott’s

Riedel Room@Q88 is undoubtedly one of Hong Kong’s premier wine-sampling locations; decorated with

sparkling crystals and subdued LED lights, it lends an exciting air to wine-tasting proceedings.

The guests were introduced to a wide range of wines by expert Gregory Brossard, starting with Burgundy

Chardonnays including a Grand Cru Henri Boillot Bienvenue Batard Montrachet. The assembly then moved

on to the Chinon – a 100% Cabernet Franc from the Loire Valley. Finally, to Australia for the Highbank - a

Bordeaux blend from South Australia and fi nishing with a beautiful big and bold Aussie Shiraz from Greenock

Creek in Barossa Valley.

Wine Club TastingWine Club TastingRiedel Room@Q88 at JW Marriott Hong Kong

Britcham Wine Club – The more the merrier!Join: Membership is simply the cost of signing up for 1 case of wine. Each member will select their own mixed

case in any combination from our list of 9 premium wines from all over the world. These 12 bottles will then

be delivered directly to your home or offi ce free of charge within a few days. Perfect to stock up on wine for

the summer or to use as gifts! This represents at least 20% off the normal cost, and you are also entitled to a

10% discount on additional wine purchases and Vintec fridges.

All members will then be invited to an exclusive tasting event every 3 months, where they can try a new selection of wines and put

together another mixed case. It’s a great way to discover new wines while networking with fellow members, and there is no obligation

so you can cancel your membership at any time.

The Enthusiast (HK$1,888 per quarter) – for wine tasting beginner who is looking to learn more about different regions.

The Connoisseur (HK$3000 per quarter) – for the experienced drinker who enjoys quality wines from popular vintages.

Please email wineclub@britcham.com or call 2147-2931 to receive the full wine list and make your selections!

17May 2011 • Vol 26 • No 5

MEMBERSHIP

Royal Wedding CelebrationOn Friday, 29th April 2011 the world watched the marriage of Prince William to Catherine Middleton. Among them

were 300 Hong Kong residents who toasted the occasion at a special celebration in the Hong Kong Club. The party,

kindly sponsored by HSBC Bank International, was organised by the Chamber in partnership with a number of British

organisations including the British Consulate-General, the Royal Geographical Society, the Royal Overseas League

and the Royal Commonwealth Society. Ensuring every part of the country was represented, the St. George’s Society,

the St. David’s Society and the St. Andrew’s Society were also involved. This very British occasion was marked in ap-

posite style with traditional party fare including cucumber sandwiches, scones, strawberries, and Pimms. The cham-

pagne was sponsored by Berry Bros. & Rudd, who are the offi cial suppliers to the royal household. BBC coverage of

the event was screened so that guests could follow the event while drinking to the happiness of the couple with old

friends and new. After the wedding ceremony, Andrew Seaton asked all present to charge their glasses and toast the

happy couple and the Queen.

Several happy Lucky Draw winners were presented with gifts to take home, including a ‘Romance Package’

from TaDa! and two cases of English Ale, kindly donated by Mybrewerytap.com.

Thanks to the following for sponsoringchampagne and prizes:

The Royal Wedding Celebration was sponsored by

HSBC Bank International

19May 2011 • Vol 26 • No 5

EVENTS

MEMBER DISCOUNTS

To enjoy exclusive member discounts please log onto www.britcham.com,log in and click on membership discounts. If you have forgotten your login details

please email info@britcham.com to request them.

Accor British Airways The Mira Hong Kong

AGS Four WindsInternational Movers Ltd Carey

RenaissanceHarbour View HotelHong Kong

Alfi e’s Compass Offi ces Ta Da

Allied Pickfords Dot Cod Virgin Atlantic

Andara Grand Hyatt VisitBritain

B&W Group AsiaLimited Hyatt Regency

Berry Bros & Rudd Le Meridien Cyberport

For up to date event listings and information, check out www.britcham.com

www.br i tcham.com20

MEMBER BENEFITS

HSBC sets outStrategy Execution PlanHSBC’s senior leadership and executive management have recently held a series of

presentations on their group strategy for investors and analysts at HSBC’s London

headquarters.

This included a description of HSBC’s distinctive position aligned with key trends,

its disciplined capital allocation aimed at driving growth priorities, a sustainable cost

savings programme of US$2.5-3.5bn to improve effi ciency, and the group’s focus on

maintaining an experienced management team accountable for delivery.

Stuart Gulliver, HSBC Group Chief Executive, commented, “Our strategy is to be the

leading international bank, concentrating on commercial and wholesale banking in

globally connected markets. We will also focus on wealth management in 18 of the

most relevant economies and limit retail banking to those markets where we can

achieve profi table scale.”

AirconMiser becomes poster-child of British business in AsiaBritish Chamber member AirconMiser Limited, the manufacturer and distributor of energy

saving devices for air conditioning and cold storage equipment was recently featured as

a showcase example of successful British business in Asia. HKTDC used AirconMiser as

an example of bringing British technology and commercial acumen together with all the

advantages of operating from Hong Kong as a hub for business in Asia.

Executive Director Graham Cottingham refl ected “With delivered energy savings typically

in the range of 40-50% we were the victims of our own success to begin with, as people

didn’t believe we could make such a big difference. But now that respected testing

authorities and well known international brands have proved it for themselves and given us

endorsements for our products the enquiries have grown exponentially. The recent HKTDC

coverage has boosted this international awareness of our brand and products and now we

have grown to the point of selling in about 50 countries around the world”.

The revolutionary AirconMiser technology benefi ts from a worldwide patent that allows

for other applications too. AirconMiser is currently developing its product range for cold

storage and mobile applications using the same technology.

Contact Graham.Cottingham@AirconMiser.com or 3752 2664 for further information.

PWC’s Cities of Opportunityreport places Shanghai fi rst among emerging market centresShanghai comes in fi rst in economic clout among 10 emerging market centres featured in

the fourth edition of Cities of Opportunity, released by PwC and the Partnership for New York

City. According to the 26-city study, it also leads the world in foreign direct investment for both

greenfi eld and capital invested and contends strongly with global leaders in domestic market

capitalisation, ranking fi fth — just below London and above Hong Kong.

The study’s key indicators of economic growth are: intellectual capital and innovation, technology

readiness, transportation and infrastructure, demographics and livability, economic clout, cost,

lifestyle assets, health, safety and security, ease of doing business, and fi nally, sustainability.

Shanghai ties with Toronto in transportation and infrastructure, outperforms London,

Singapore and New York in sustainability and ranks in the top four in the visual impact of

its skyline. New York leads the study, but is followed closely in the top fi ve by Toronto, San

Francisco, Stockholm and Sydney — cities more notable for quality of life and balance than

global business dominance.

The complete report can be found at: www.pwc.com/cities.

New Jazz Band in Captain’sBar at Mandarin Oriental, Hong KongCaptain’s Bar at Mandarin Oriental, Hong Kong is delighted to welcome the Valeria Proaño

Trio as its newest resident jazz band. The band’s vast knowledge of jazz, Brazilian jazz, pop

and Latin American styles makes it the perfect match for this vibrant venue. Watch these

professionals perform between 18 April and 17 July from 9 pm and 12.45 am Monday to

Thursday, and until 1.45 am on Fridays and Saturdays.

Valeria Proaño was born in Quito, Ecuador, and moved to Miami to attend Miami Dade

College, where she fi rst studied classical voice before winning a scholarship to attend the

world-renowned jazz programme at the University of Miami. For the past 15 years, Valeria

has been performing professionally in jazz clubs, hotels and diverse venues all over the

world, and has successfully led her own groups on two European tours. Valeria has also

appeared as a back-up singer for Grammy Award winners and world renowned Latin artists

Jose Luis Rodriguez, Paulina Rubio and Miguel Bose.

InterContinental Grand Stanford Hong Kong (ICGS)

has recently announced the appointment of Martin

Schaumburg as Director of Food and Beverage. Martin

brings with him more than 11 years of experience in the

hospitality industry.

Martin started his career in 1990 and worked in a number

of prestigious luxury hotels throughout Europe and Asia,

such as Hotel Nassauer Hof in Wiesbaden, Germany,

Claridge’s in London and Westin in South Korea. He joined

Kempinski Hotels Group in China in 2004, where he participated in the hotel openings

as Executive Chef that brought him from Shenyang to Shenzhen. With his impressive

background and signifi cant contribution to his role, he switched from Culinary to Food

and Beverage department in 2008.

Prior to joining ICGS, Martin was part of the pre-opening team as Executive Assistant

Manager for Kempinski Hotel Huizhou in charge of Food and Beverage department,

and worked on task-force assignments at hotel pre-openings and openings in Sanya

and Yinchuan.

Martin Schaumburg

Professional services real estate firm Jones Lang LaSalle recently appointed Tina Ting

as Director of International Residential Property Services. Utilising her years of successful

residential sales, Ms Ting is responsible for growing the fi rm’s international luxury residential

sales business, managing overseas property sales launches and representing clients in

marketing their projects throughout Asia. Ms Ting joined Jones Lang LaSalle on 1 April 2011.

With over 20 years in the industry, Ms Ting brings with her a wealth of international

property experience in sales and marketing overseas projects locally. Prior to joining

Jones Lang LaSalle she spent over 15 years with another real estate service fi rm in

Hong Kong where she led the international sales team and worked closely with the

company's London office and other branches. Ms Ting

has a strong track record handling prominent overseas

residential sales projects including Neo Bankside,

Wellington House, Bramah House, One Hyde Park,

The Knightsbridge, The Phillimores and The Stadium.

In addition to her sales experience in marketing luxury

residential properties in London, Ms Ting has experience

in sales of overseas residential property developments in

China, Australia, Thailand and the USA.Tina Ting

21May 2011 • Vol 26 • No 5

NEWS / NEW APPOINTMENTS

Business Policy UnitTim Peirson-SmithExecutive Counsel

China CommitteeDavid WattDTZ

Construction Industry GroupDerek SmythGammon Construction

Education CommitteeStephen EnoBaker & McKenzie

Environment CommitteeAnne KerrMott MacDonald Hong Kong Limited

Financial ServicesInterest GroupDebbie AnnellsAzure Tax Consulting

HR Advisory GroupBrian RenwickBoyden Search Global Executive

ICT IT CommitteeCraig ArmstrongStandard Chartered

Marketing & Communications CommitteeAdam O’ConorOgilvy & Mather Group

Real Estate CommitteeJeremy SheldonJones Lang LaSalle

Scottish Business GroupDr. Jim WalkerAsianomics Limited

Logistics CommitteeMark MillarM Power Associates

Small & Medium Enterprises CommitteeKate Kelly

Women in Business CommitteeLisa BowmanDG3 Asia Limited

YNetwork CommitteeFiona Foxon

Business Angel ProgrammeNeil OrvayAsia Spa & Wellness Limited

Tim Hay-EdiePilot Simple Software

Chairs of Specialist Committees

CORPORATEHong Kong Sotheby’s International

Realty

Suzanna Boon

Senior Manager

Tel 3108 2167

Fax 3101 9338

suzanna.boon@hksothebysrealty.com

Suite 2001, Three Pacifi c Place

1 Queen’s Road East, Hong Kong

Property / Real Estate Services

ADDITIONALAedas Limited

Liliana Silva

Head of Communications - Asia

Tel 2861 1728

Fax 2529 6419

liliana.silva@aedas.com

31/F, One Island East

18 Westlands Road, Quarry Bay

Hong Kong

Architecture/Interior & Urban Design

Chartis Insurance Hong Kong Limited

Cynthia Sze

AVP - Head of Broker Relations

Tel 3555 0173

Fax 2147 1450

cynthia-lk.sze@chartisinsurance.com

46/F One Island East, 18 Westland

Road, Quarry Bay, Hong Kong

Insurance

Chartis Insurance Hong Kong Limited

Louise Wai

AVP

Tel 3555 0183

Fax 2838 5029

louise-lf@chartisinsurance.com

46/F One Island East, 18 Westland Road

Quarry Bay, Hong Kong

Insurance

Chartis Insurance Hong Kong Limited

Eliza Wong

Professional Associate

Tel 3555 0146

Fax 2838 7006

eliza-tk.wong@chartisinsurance.com

46/F One Island East, 18 Westland Road

Quarry Bay, Hong Kong

Insurance

Citigroup Global Markets Asia Limited

Fleur De Koning

Associate

Tel 6206 1707

fl eur.dekoning@citi.com

46/F, Citibank Tower, 3 Garden Road

Central, Hong Kong

Banking

English Schools Foundation

Chris Durbin

Chief Operating Offi cer

Tel 6770 0190

Fax 2816 5440

chris.durbin@esfcentre.edu.hk

25/F, Fortis Centre, 1063 Kings Road

Quarry Bay, Hong Kong

Education

The Oval Partnership Ltd

Taryn-Lee Swales

Project Director

Tel 2528 8627

Fax 2815 6377

tarynswales@ovalpartnership.com

14/F, Malaysia Building

50 Gloucester Road, Wanchai, Hong Kong

Architecture/Interior & Urban Design

YNETWORKLloyds TSB Bank plc, Lloyds TSB

Pacifi c Limited

Gavyn Letley

Business Development Manager

Tel 2524 1723

Fax 2524 1723

gavynletley@lloydstsb.com.hk

805-806, 8/F, Man Yee Building

68 Des Voeux Road, Central, Hong Kong

Banking

Pacifi c Basin Shipping (HK) Limited

Mark Hardy

General Manager, Corporate Affairs

Tel 2233 7191

Fax 2110 0171

mhardy@pacifi cbasin.com

7/F, Hutchison House

10 Harcourt Road, Central, Hong Kong

Shipping

PricewaterhouseCoopers

Linda Kempenaar

Senior Manager - Assurance

Tel 2289 2301

Fax 2810 9888

linda.lm.kempenaar@hk.pwc.com

22/F, Prince's Building, Chater Road

Central, Hong Kong

Accounting

Sir Elly Kadoorie & Sons Ltd

Andrea Capol

Senior Executive

Tel 2905 3367

ac@kadoorie.com

24/F, St George’s Building

2 Ice House Street, Central, Hong Kong

Conglomerate/Holding

Sovereign Trust (Hong Kong) Ltd

John McGale

LLB BCom

Tel 2542 1177

Fax 2545 0550

jmcgale@sovereigngroup.com

Suites 1601-1603, Kinwick Centre

32 Hollywood Road, Central, Hong Kong

Financial Services

Sovereign Trust (Hong Kong) Ltd

Clifton Tang

Business Development Manager

Tel 2542 1177

Fax 2545 0550

ctang@sovereigngroup.com

Suites 1601-1603, Kinwick Centre

32 Hollywood Road, Central, Hong Kong

Financial Services

Withers

Katie Graves

Partner

Tel 3711 1600

Fax 3711 1601

katie.graves@withersworldwide.com

Suite 2005-7, 20/F, Gloucester Tower

The Landmark, Central, Hong Kong

Legal

Withers

Patrick Hamlin

Partner

Tel 3711 1635

patrick.hamlin@withersworldwide.com

Suite 2005-7, 20/F, Gloucester Tower

The Landmark, Central, Hong Kong

Legal

INDIVIDUALRobert Footman

Tel 90397565

Fax 25182677

rclfootman@yahoo.com.hk

Flat 1A, Beach Pointe

16 Stanley Beach Road, Stanley

Hong Kong

Michael Moir

Tel 2966 7388

Fax 2966 7713

michael.j.moir@hkjc.org.hk

6/F, Hong Kong Jockey Club,

1 Sports Road, Happy Valley, Hong Kong

STARTUPEnecore Carbon International Limited

Jessica Robinson

Director

Tel 9826 1201

jessica.robinson@enecore.com

Unit 8, Level 3, Three Pacifi c Place

1 Queen’s Road East, Hong Kong

Environmental Services

Lloyd & Limited

Bobby Tsang

Business Development Manager

Tel 2156 2053

Fax 2156 2130

boby.tsang@lloyd-and.com

1902-03, Chinachem Hollywood Centre

1 Hollywood Road, Central, Hong Kong

Consultancy

www.br i tcham.com22

NEW MEMBERS

Stuart Northrop (Widnell Sweett), Ben Lester (Elite Capital Solutions)

Ally Lung (Civil Aviation Department), Hody Lai(The Executive Centre), Roger Wu (Purcell Miller Tritton), Kenneth Sham (Hudson)

Wendy Lam (The Executive Centre), Roger Thompson (PricewaterhouseCoopers)

Suzanne Wasson, Richard Bracken (Consulate General of the United States)

Hody Lai (The Executive Centre), Antony Eden (Ernest Maude), Andy McBride (Al Masaoud & Sons)

Lucy Jenkins (The British Chamber of Commerce in Hong Kong), Lilian Chan (American Express), Amine Loukia (AGS Four Winds)

Steven Resco (Widnell Sweett), Jason Wong (EHM)

Becky Roberts (The British Chamber of Commerce in Hong Kong), Liz Hamerton (Strategic Offi ce Solutions), Lucy Jenkins (The British Chamber of Commerce in Hong Kong)

Helena Wong (Executive Homes), Maureen Mills (Executive Homes)

Amine Loukia (AGS Four Winds), Eleanor Stormonth (ANZ)

Shaken Not StirredMarch 2011The Quarterdeck ClubG/F, 1 Lung King Street, The Fleet ArcadeFenwick Pier, Wanchai, Hong Kong

23May 2011 • Vol 26 • No 5

EVENTS