Brand Britain

10 24 The Hong Kong CleanupBalancing Tradition and Modernity GREAT Campaign18

September 2012 Vol 27 No 7

Not For Sale

www.bri tcham.com

HONG KONGBritainIN

Brand Britain5GREAT Campaign18

4 Chairman’s Message

5 Brand Britain

8 Secondment of Employees to Hong Kong

10 Balancing Tradition and Modernity

12 The Benefi ts of Internships

14 Opinion: Five Reasons Why Hong Kong is an Ideal Data Centre Hub for Asia

16 Hong Kong as a Transportation Hub

18 GREAT Campaign

20 Leaving Home

22 An Olympic-sized Opportunity for Hong Kong

24 The Hong Kong Cleanup

26 All-inclusive Elephant Adventure

30 Upcoming and Past Events

32 Member Discounts

34 Member Get Member 2012

36 News and New Appointments

38 New Members

39 Shaken Not Stirred

The Hong Kong Cleanup24

Contents

EditorSam Powney

DesignWinnie LiLilian YuSteve MokKen Ng

Advertising ContactCharles Zimmerman

Project ManagementVincent Foe

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

British Chamber of Commerce SecretariatExecutive DirectorCJA Hammerbeck CB, CBE

General ManagerCynthia Wang

Marketing and Communications ManagerEmily Ferrary

Special Events ManagerBecky Roberts

Events ExecutiveMandy Cheng

Business Development ManagerPhillippa Cook

Membership ExecutiveLucy Jenkins

AccountantMichelle Cheung

Executive AssistantJessie Yip

SecretaryYammie Yuen

Offi ce AssistantSam Chan

© All published material is copyright protected. Permission in writing from the Publishers must be obtained for the reproduction of the contents, whole or in part. The opinions expressed in this publication are

not necessarily the opinions of the Publishers. The Publishers assume no responsibility for investment or legal advice contained herein.

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

Britain in Hong Kong

28064_BCO_Sept.indd 328064_BCO_Sept.indd 3 12年9月18日 下午5:2312年9月18日 下午5:23

Nick Sallnow-Smith

The completion of the Olympics was quickly followed with a “back to school” atmosphere in Hong Kong.

Miles of column inches have been dedicated to assessments of the competition, and of the opening

and closing ceremonies. One positive message to draw might be the virtues of diversity. The London

ceremonies were so different from Beijing’s. Instead of this being a cause for comment, favourable or

otherwise, perhaps we should be saying “thank goodness”, when so much diversity is being lost in the

fl at world of global marketing.

The event was also a useful reminder of London and Hong Kong’s shared history and their parallel roles

in business aggregation in Europe and Asia. Neither city can take this position for granted. Our unique

histories led accidentally but serendipitously to being in the right place, at the right time and with the

right people. This is a position rarely usurped by a competitor but can be easily lost by too casual an incumbent. As we go “back to

school” with a new administration, a new Legislative Council, and new political dynamics, the Chamber has to move quickly to get a

good grasp of those dynamics and to ensure that its membership’s views are heard on how to ensure business continues to thrive.

Over the autumn we will ensure that we take every opportunity to do just this. The deferral of the fi rst Policy Address of C Y Leung

may be useful in allowing the administration time to refl ect on the Chamber’s feedback rather than simply rolling out policies from its

election manifesto without time to refl ect.

The Chamber has advocated on many occasions the need to consider the impact of new legislation/regulation before bills are

rushed through the legislature. The Competition Bill, now the Competition Ordinance, has been a good example. We will need to

monitor its impact when the Competition Commission is set up and the Ordinance operative, and give members the opportunity to

feedback concerns on its implementation.

Finally as we go to press, our Consul General Andrew Seaton is working through a no doubt exhausting schedule of farewells. While

Andrew’s role in Hong Kong over more than one tour has been widely praised, it cannot be said too often that he has not only

undertaken his diplomatic role with exemplary courtesy and effectiveness, he has attended far more of our events and meetings

than his diary should have allowed. We thank him for that and wish him and his family all good fortune back in London. He will be

fondly remembered here in Hong Kong.

Chairs of Specialist Committees

Business Angel ProgrammeNeil OrvayAsia Spa & Wellness Limited

Business Policy UnitTim Peirson-SmithExecutive Counsel

China CommitteeDavid WattDTZ

Construction Industry GroupDerek SmythGammon Construction

Education CommitteeStephen EnoBaker & McKenzie

Environment CommitteeAnne KerrMott MacDonald Hong Kong Limited

Financial Services Interest GroupRichard WinterQuam Limited

HR Advisory GroupBrian RenwickBoyden Search Global Executive

ICT IT CommitteeCraig ArmstrongStandard Chartered

Logistics CommitteeMark MillarM Power Associates

Marketing & Communications CommitteeAdam O’ConorOgilvy & Mather Group

Real Estate CommitteeJeremy SheldonJones Lang LaSalle

Scottish Business GroupJohn BruceHill & Associates

Small & Medium Enterprises CommitteeKate KellyK2PR

Strategic Supply Chain ForumDominic JephcottVendigital Limited

Women in Business CommitteeSheila DickinsonThe Fry Group

YNetwork CommitteeAlison Asome

MessageChairman’s

Brand Britain2012 was bound to be a notable year in terms of the

profile of British business in Hong Kong. Notably, the

15th anniversary of the city’s handover fell in the short

space between the Queen’s Diamond Jubilee and the

London Summer Olympic Games. There was a curious

moment during the Olympics, when Britain, China and

Hong Kong each won a medal in the women’s keirin

cycling race. Many commentators remarked that the fl ag-

hoisting podium moment was strongly reminiscent of the

handover ceremony. Perhaps underlying this was a vague

sense that besides the major events and anniversaries,

the public reaction towards Britain, not just in Hong Kong

but in China too, has undergone a radical transformation.

At the same time that Hong Kong’s media focus has

centred on issues surrounding the city’s Chinese identity,

things British have never been so popular here. From

designer clothes, to beers and spirits, to education and

entertainment – British products are selling like hot cakes.

‘Brand Britain’, as it has recently come to be known, is

a phenomenon whose reach extends far beyond Hong

Kong. In mainland China and throughout the developing

world, British luxury brands are doing a roaring trade.

Arguably, no-one understands this demand better

than the Walpole Group, which represents more than a

hundred British companies including many of the most

iconic British brands. Guy Salter, Deputy Chairman of

Walpole, distils the recent success of the British luxury

industry, ‘Probably about 15 years ago, the British brands

began to gain a larger profi le. Part of the reason for this

is the evolution and sophistication of the luxury market as

a whole. As consumers get rapidly more sophisticated,

a significant section of them want something different

from what everyone else is buying. They might be more

interested in the underlying quality and less about the

logo for example. This is what I call the ‘discernment

curve’. That has really played to the benefit of a lot of

British luxury fashion brands, many of which have been

small, dedicated operations for over a hundred years.

Having said that, some of our most successful brands,

Jimmy Choo, Bill Amberg, etc. are actually very new.

But as a whole, the British brands tend to be more

interesting, more niche, and have a more quirky feel. I

often say to people that within the UK we’re the best

kept secret growth story that the UK has. British luxury is

seeing a strong and sustained, year-on-year growth.’

So much for the luxury market. But Brand Britain seems

to go further than simply the famous names or even

products made in Britain. In every crowded market in

developing cities around the world, one can see young

people wearing Union Jack-emblazoned jeans and

t-shirts, often etched in garish pinks or ‘accentuated’

with sparkles. It is at moments like these when one

might be forgiven for thinking that Brand Britain has got

a little out of control. Yet this development of the national

symbol is not entirely an accidental one.

As the name would suggest, Brand Britain has a national

as well as a commercial intention behind it. The term

found currency in the lead-up to the Olympics, as

politicians and government advisers sought to harness

together every ounce of Britain’s world renown in order

to make a successful event. It would not be misleading

to see Danny Boyle’s opening ceremony in that light.

Including the Queen and James Bond in a helicopter

stunt was slick as well as amusing.

Britain in Hong Kong 5C ove r S t o r y 4

Events in Hong Kong are following a similar pattern.

November looks set to see a huge UKTI trade delegation

visit Hong Kong as part of the GREAT campaign. The

focus of the week of events, exhibitions and seminars

will be creativity, especially looking at fashion, luxury,

design and craftsmanship. Times Square has hosted

a major UK festival, sporting a London double-decker

bus, a traditional-looking English cottage and a red post

box. Offering information on the Olympics and other UK

events (as well as Irish Guard teddy bears), the venue

was a roaring success, visited by countless thousands

of people. Meanwhile, in

the Shun Tak Centre - site

of the Macau Ferry, a small

London Fair was installed,

which had enl isted the

help of Madam Tussaud’s

t o d i s p l a y a l i f e - s i z e

waxwork of the Queen, in

addition to a larger-than-

life Irish Guard teddy bear

and models of Big Ben

and Tower Bridge. Most

interesting in terms of the

Brand Britain concept were

the essentialised symbols

of Britain prominently displayed on pillars and glass walls.

These included an I♥UK symbol, a teapot, a bowler hat,

a pound sign and more Irish Guards. Taken together,

these events demonstrate a tremendously broad and

successful British marketing campaign.

Though by no means the first person to recognise the

power of culture in international relations, it was Joseph

Nye, American political scientist and Harvard University

professor, who coined the phrase ‘soft power’ and

greatly emphasised its importance as a component

of modern diplomacy. Alongside the ‘hard power’ of

military and economic strong-arming, he claimed, lay

an equally, if not more fruitful world of cultural diffusion -

‘soft power’. Rather as Ancient Greece, Rome or imperial

China commanded respect and economic power as

much through their culture as through their military

conquest, so America, argues Nye, won great dividends

internationally through Hollywood, Disney and Coca-cola.

This is nothing new, but the question remains as to how,

and perhaps whether at all, governments can harness or

direct that power for the sake of national interest.

For all America’s success though, Britain has by no

means been left out in the world of cultural diplomacy.

The British Council, founded in 1934, is the second

oldest institution of its kind in the world (in those days

‘cultural propaganda’ was an acceptable term), though

the Alliance française predates it by over fi fty years. The

British Council has fostered literature, art

and film for many years, its ongoing work

in the subcontinent, for instance, helping to

continue the strong relationship between

Indian writers and British publishing fi rms to

this day.

In recent years however, i t i s Br i t i sh f i lm and

entertainment which have found greater global appeal.

Where before there was only James Bond, now there is

also Harry Potter and a host of TV dramas, comedies,

talent shows, cooking programmes, and a certain

series about cars. 2012 may have been the year of the

Olympics, but it was also the year of Downton Abbey.

Purely from an investment point of view, picking one

over the other would be an easy choice; but perhaps

the key point increasingly being emphasised is that

the one helps the other. The Olympics raised Britain’s

profile, and Downton Abbey spurred people from

around the world to visit the UK, many of them during

the Olympic festival itself. Even those pink spangled

Union Jack jeans might help to attract new waves

of Manchester United fans, more viewers of the next

James Bond film (coming out in November, in case

you were unaware), and more business for British

companies of all shapes and sizes.

In short, there was method to Danny Boyle’s madness.

Throwing Monty Python, Big Ben and the NHS into the

same mix does, in fact, help to boost Britain’s economy.

For that moment at least, even the England footballers

played as...part of the team.

C ove r S t o r y

Employers often place

their employees on secondment

t o a n o t h e r c o u n t r y f o r a

period of time. If an employee

w a s s e c o n d e d t o H o n g

Kong and the employment

contract incorporates a foreign

governing law clause, does the

Employment Ordinance (“EO”)

apply?

This issue was considered in the case of HSBC Bank

PLC v Steven Andrew Wallace [2008] 1 HKLRD 613

(“HSBC v Wallace”) and has been re-visited in the

recent February 2012 case of Cantor Fitzgerald v Jason

Jon Boyer & Ors [2012] HKCU 478 (“Cantor Fitzgerald

Case”).

HSBC v Wallace

Mr. Wallace was an employee who was offered

employment by HSBC Bank Plc. (“HSBC”), a company

incorporated in England upon the understanding that he

was to be immediately placed on secondment to Hong

Kong.

His employment contract provided that he may terminate

his employment by giving 6 months’ written notice.

Mr. Wallace later resigned and accepted a position

at another bank. HSBC confirmed his last date of

employment to be 6 months after his resignation date.

Mr. Wallace decided to shorten his notice by making a

– DOES HONG

payment in lieu of notice equivalent to his wages for the

remaining balance of the notice period by relying upon

EO s.7 to bring forward his termination date. EO s.7

provides that either party to an employment may “at any

time” terminate the contract without notice by agreeing

to pay the other party a payment in lieu.

HSBC argued that the EO had no application as the

employment contract was governed by English law.

There was no equivalent statutory right to buy out one’s

notice under English law under the circumstances.

Mr. Wallace argued that the EO applied, given the terms

of EO s.4, and that he was employed to work in Hong

Kong, and thus had its closest and most real connection

with Hong Kong.

EO s.4(1) provides that the EO applies to every

employee engaged under a contract of employment,

to an employer of such employee and to a contract of

employment between such employer and employee.

Mr. Wallace further argued that an express choice of

law other than that of Hong Kong cannot be used to

exclude an employee’s right to invoke EO s.7, by virtue

of EO s.70 which provides that any term of a contract of

employment which purports to extinguish or reduce any

right, benefi t or protection conferred upon employees by

the EO shall be void.

The Court held that parties to employment contracts are

entitled to choose the governing law, thus there was a

presumption that English and not Hong Kong law applied.

However, the Court also stated that the presumption may

Catherine Leung

B u s i n e s s

G KONG LAW APPLY ?

be rebutted if Mr. Wallace could establish that the parties

had no connection with England and that the invoking of

English law was a device artifi cially introduced to exclude

EO protection. It was held that the presumption that

English law applied was not rebutted.

Cantor Fitzgerald Case

In this case, the Court held that notwithstanding the

fact that an employment contract incorporated a foreign

governing law clause, Hong Kong law may nonetheless

apply.

Four former employees of Cantor Hong Kong and Cantor

Fitzgerald Europe (“CFE”), a capital markets investment

bank (collectively, “Cantor”), resigned and joined a start-

up brokerage house in Hong Kong.

D1 was seconded from CFE to Cantor Hong Kong. His

employment contract with CFE was subject to English

law. Under D1’s employment contract, he was entitled to

terminate his employment by providing 4 months’ notice.

His employment contract was varied by a letter of

secondment which provided that his employment was

governed by English law “…save for any mandatory

employment laws of Hong Kong”.

D1 sought to terminate the employment pursuant to EO

ss.6 and allowing him to terminate the employment by

providing notice and to make a payment in lieu of notice

to CFE at anytime. D1 argued that EO s.70 nullified

any term of a contract of employment which purported

to extinguish or reduce any right, benefit or protection

conferred upon an employee by the EO. In light of EO

s.70, D1 argued that EO ss.6 and 7 must be regarded as

mandatory laws of Hong Kong.

Relying upon HSBC v Wallace, Cantor argued that

D1’s employment was subject to English law and that

there was no reason to apply Hong Kong law which

overrode the express terms relating to the termination

of D1’s employment. The Court did not agree with the

reasoning set out in HSBC v Wallace and explained the

difference in approach was due to the fact that the Judge

in HSBC v Wallace did not have the benefit of hearing

the full argument on the question as the Judge was only

drawing a preliminary conclusion in an application of an

interlocutory injunction (until the Cantor Fitzgerald case

which was a full hearing). The Court held that EO ss.6

and 7 must apply as part of the “mandatory employment

laws of Hong Kong”, and that one cannot choose a

foreign law to get around the protection afforded by

the EO to employees working in Hong Kong (as such

an attempt would be struck down by EO s.70). The

Court held that EO ss.6 and 7 must apply as part of

the “mandatory employment laws of Hong Kong”, and

that one cannot choose a foreign law to get around the

protection afforded by the EO to employees working in

Hong Kong (as such an attempt would be struck down

by EO s.70). The Court held that D1 should be allowed

to rely upon EO ss.6 and 7 to make a payment in lieu of

notice for the agreed period in the employment contract.

The two cases may be distinguished upon the basis that

in the Cantor Fitzgerald case, there was a secondment

letter which expressly varied the UK governing law

clause to allow “any mandatory laws of Hong Kong to

apply”, whereas no similar provision was included in the

secondment letter in HSBC v Wallace.

Practical Implications

Employers should be aware that notwithstanding the fact

that an employment contract expressly incorporates a

foreign jurisdiction and governing law clause, Hong Kong

law may nonetheless apply to secondees working in

Hong Kong. Employers may not be able to by-pass the

EO by choosing a foreign law as the governing law of the

employment contract, as to do so may be considered as

contracting out of the EO, which is not allowed.

“Howse Williams Bowers is a new,

independent Hong Kong law fi rm. Our

key practice areas are commercial and

maritime dispute resolution, clinical

negligence and healthcare, insurance

and professional indemnity insurance, corporate

commercial and corporate finance, employment,

matrimonial and intellectual property. The HWB partners

and their teams have an excellent reputation for delivering

high quality advice with a practical and commercial

approach to solving legal issues in line with clients’

commercial objectives.”

Disclaimer: The information contained in this article is intended

to be a general guide only and is not intended to provide legal

advice. Please contact catherine.leung@hwbhk.com if you have

any questions about the article.

Secondment of Employees

to Hong Kong

Catherine Leung

Senior Associate, Howse Williams Bowers

Britain in Hong Kong 98

As the world’s societ ies age,

governments and businesses are

trying to look ahead and anticipate

the needs of tomorrow’s growing

elderly populations. Nowhere is this

more diffi cult to do than in emerging

East Asia. It is not just that the region

is due to age so dramatically, but also

that the rapid pace of development

is transforming retirement attitudes

and behaviour.

P r u d e n t i a l h a s b e e n h e l p i n g

individuals and families in Asia plan

for their future and protect their long-

term fi nancial well-being for over 88

years. In order to better understand

the new chal lenges facing the

region, Prudential plc partnered with

the US-based Center for Strategic

and International Studies (CSIS) in

2010 to work on a multi-year Global

Ageing Preparedness Project.

The latest study under this project

was released in July 2012 entitled

“Balancing Tradition and Modernity:

T h e F u t u re o f R e t i r e m e n t i n

East Asia”. The report examined

re t i r e m e n t e x p e c t a t i o n s a n d

behaviours in six of East Asia’s

emerging markets, surveying a

wide cross-sect ion of workers

and retirees. The report provides

powerful insights that are not only

useful to policymakers concerned

about how best to prepare society

for the aging challenge, but also

Balancing Tradition and Modernity:

The Future of Retirement in East AsiaContributed by Prudential Corporation Asia

to businesses looking to design

retirement products for varying age

groups in different countries.

The countries covered by the CSIS

study were China, Hong Kong,

Malaysia, South Korea, Taiwan, and

Singapore. The picture that emerges

from the survey is one of societies

in the midst of a breathtak ing

transformation. Birthrates have

plummeted and families have shrunk.

Affluence, educational attainment,

and familiarity with markets are rising.

And huge generational fissures are

opening up between younger and

older generations.

Dr Richard Jackson, Director and Senior Fellow of the Washington-based CSIS, presented the findings of his report at a luncheon co-organised by the British Chamber of Commerce and Prudential Corporation Asia in July 2012. Several Chamber members were in attendance.

A summary of the report’s key

fi ndings are outlined below

Key fi ndings:

• The traditional “Confucian ethic”

expectation that families themselves

wi l l p rov ide for the i r e lder ly

members is under unprecedented

pressure. Only small minorities

(from a low of 4 percent in China to

a high of 22 percent in Singapore)

believe that grown children should

be responsible for the retirement

income of their parents.

• There i s s t rong suppor t fo r

i n d i v i d u a l s t a k i n g g r e a t e r

responsibility for financing their

own retirement. In most countries –

China and Malaysia are exceptions

– people prefer personal savings-

based retirement provision to

government provision.

• For today’s elderly, retirement can

be a time of economic hardship.

Retired respondents in all of the

countries worry a great deal about

B u s i n e s s

• There is considerable support

in Hong Kong fo r ind iv idua l

respons ib i l i t y fo r re t i rement

i n c o m e . F o r t y p e r c e n t o f

respondents believe that retirees

themselves should be mostly

responsible for providing their

own ret i rement income. This

is somewhat larger than the

share supporting government

responsibility (37 percent) and

much la rger than the share

supporting family responsibility (12

percent).

• The MPF g i ves Hong Kong

a large re lat ive advantage in

preparing for the aging of its

population. Although Malaysia

and Singapore also have savings-

based retirement systems, Hong

Kong’s privately managed system

is the only one that earns a market

rate of return. The main challenge

facing Hong Kong is that the

MPF’s targeted replacement rate

of 30 to 40 percent is too low to

support an adequate standard

of living in retirement—and that,

despite their growing market-

orientation, today’s workers are

not saving enough on their own to

make up the difference.

For more information, contact:

harsha.p.harjani@prudential.com.hk

For access to the full report, visit:

http://gapindex.csis.org

becoming “a burden on their

children” (40 to 85 percent), being

“poor and in need of money” (30 to

85 percent), and being “in ill health

and having no one to care for

them” (50 to 80 percent).

• Although retirement prospects

are improving for members of

today’s working generations, most

are still not adequately prepared.

Gaps in pension coverage and

low replacement rates mean

that government and employer

retirement systems are unlikely to

meet their needs—and very few

are saving enough on their own to

ensure a decent standard of living

in retirement.

Key fi ndings specifi c to Hong

Kong:

• For today’s ret i rees in Hong

Kong, retirement can be a time

of economic hardship. Fifty-nine

percent report that they have “a lot

less income” than while they were

working. Just 7 percent report that

they have more income. The gap

between the income of the old and

the young is also one of the largest.

While the median income of young

adults aged 20-39 is 150 percent

of the median for all households,

the median income of adults aged

60 and over is just 49 percent.

• The rate of pension receipt in

Hong Kong is still relatively low.

Just 63 percent of current retirees

report receiving a benefit from the

Mandatory Provident Fund (MPF).

Meanwhile, the dependence of

retirees on the extended family is

the highest of any survey country.

Forty-two percent of current

retirees report receiving more

financial support from their grown

children than they provide to them,

while just 4 percent report providing

more than they receive.

• The outlook for tomorrow’s retirees

is much brighter. The expected

pension receipt rate among current

workers rises to 90 percent—the

highest rate of any of the survey

countries. The survey also reveals

an astonishing increase in the

expected receipt rate for all types of

asset income. Seventy-fi ve percent

of young adults aged 20-39 expect

to receive income from insurance

or annuities in retirement, while 66

percent expect to receive income

from stocks or bonds — the highest

share of any survey country.

Britain in Hong Kong 1110

The Benefi ts of Businesses in

What Is An Internship?

An internship is essentially about

work experience for young people

— be they school leavers, university

students or recent graduates. Where

internships were once an informal

means to gain practical insight into

a particular career field, today they

are regarded as part of students’

education and an important rung on

the ladder to success, because an internship can add as much

gravitas to a CV as a degree. In fact, students who are not

using their university holidays for internships are far less likely to

secure a decent permanent job when they leave university.

What Are The Benefits Of Internships For

Businesses?

There are clear business benefits to hosting an internship,

not least because the host company gains an additional and,

typically, motivated member of staff who is eager to leave an

impression.

The youth of today tend to be tech-savvy and through their

studies are also aware of the latest trends in, for example,

management, marketing and social media. This enables

them to bring new skills, ideas and perspectives, which have

the potential to improve productivity within an organisation

— all with minimal fi nancial cost to the business, especially if

the internship is unpaid.

The internship may even lead to good publicity for a host

company if the intern enjoys the experience and tells others

about it.

Some businesses habitually use internships as part of their

recruitment strategy, because they offer an opportunity

to trial out candidates before offering them a permanent

position.

However, in order to reap the benefits of internships, it is

important for host companies to ensure that internships are:

• structured with a work plan;

• advertised appropriately (the job description should detail

the intern’s expected tasks so that it attracts the right

candidates); and

• managed and supervised by a mentor with sufficient

industry experience, who can provide constructive

feedback to the intern.

It is also worth arranging a proper introduction to the

company at the start to enable the intern to integrate quickly.

Internships are becoming part and parcel of Hong

Kong’s modern, fl exible economy and are benefi cial

not only for the interns themselves but also for the

businesses which host internships.

Samantha Cornelius Managing Director StandOut Internships (HK) Limited

B u s i n e s s

28064_BCO_Sept.indd 1228064_BCO_Sept.indd 12 12年9月18日 下午4:5912年9月18日 下午4:59

Internships forHong Kong

What Tasks Can Interns Do?

If an internship is to be beneficial to both the business

and the intern, it is imperative that the intern is given the

opportunity to carry out diverse and meaningful tasks, attend

business meetings and shadow employees. Interns should

therefore not be asked to carry out basic administrative

or menial tasks any more than other employees would be

expected to do so.

An effective way to find meaningful tasks for interns is to

consult colleagues and heads of departments in advance

to find out if they have any specific projects, which they

consider an intern could contribute to. If one big project

does not stand out, or none of the departments feels they

can offer a sufficient workload by themselves, an intern’s

workload could be spread across a number of different

areas. This would give the intern a broader view of the

organisation and a range of learning and development

opportunities.

Internships — Paid v. Unpaid?

Students, understandably, prefer paid internships and,

where possible, businesses should consider a budget for

offering paid internships (at the minimum wage or above)

and covering work-related expenses incurred by the intern,

including travel to and from work and whilst attending

external meetings or events.

It is, however, possible and perfectly legal to offer unpaid

internships, although there are restrictions under Hong

Kong’s minimum wage legislation, which companies need to

be aware of when hosting unpaid internships.

Where an internship is unpaid, the quality of the work

experience is the most important factor for the intern, as

the short-term economic costs of an unpaid internship can

often be offset by the long-term advantages to the intern’s

career.

About StandOut Internships (www.standoutinternships.com)

At StandOut Internships we manage an active

database of students from Hong Kong and around

the world who are looking to do internships in Hong

Kong. We interview all our applicants and match

candidates to host companies based on their job

descriptions and candidate requirements. We have

a qualified employment lawyer on the team who can

advise companies how to structure unpaid internships

in accordance with Hong Kong’s minimum wage

legislation and arrange visas for interns from abroad. If

you would like to fi nd out more about the services we

offer when sourcing interns for your business — without

any charges payable by your company — please email

Samantha Cornelius, Managing Director of StandOut

Personnel Limited on sam@standoutinternships.com.

Britain in Hong Kong 1312

Over the past few years, the increase in the use

of the Internet and the emergence of smartphones,

tablets and other mobile devices together with the

acceptance and growth of cloud computing has seen

the volume of data produced by consumers on a daily

basis grow at an exponential rate. This growth is not

just linked to consumer behaviour either, as enterprises

too are working with record levels of data. For example,

companies in the financial and medical field or in the

media industry are increasingly producing huge amounts

of data, all of which needs to be securely accessed and

stored in a safe location.

This has resulted in a pressing need to build and maintain

high-tier data centre facilities and as an increasing

number of multi-national enterprises look eastward for

future business growth, this demand is never more acute

than in Asia today. Data centres are critical to enabling

businesses to run their operations and in many cases

can help a company to secure a competitive advantage

over other players within their industry. However,

deploying and maintaining them can be expensive and

is increasingly complex, as more systems are merged

or integrated into each other. A data centre strategy has

to be carefully planned, as many factors come into play

both when deciding where to house a data centre and

ensuring that it delivers the best possible results for an

organization.

Opinion: Five ReasonsWhy Hong Kong is an Ideal Data Centre Hub for Asia

Data centres cannot be built just anywhere, as restrictions

around access to suitable land means only certain

locations are available, whilst the cost of operation and

maintenance means certain sites are not cost efficient

to house them. EC Harris, a built asset consultancy that

advises enterprises on how to plan for, build and maintain

data centres, has found that Hong Kong is an excellent

location for developing them.

There are several key advantages that make Hong Kong

an ideal choice to build a data centre:

1 Environment: Unlike many other places in Asia,

Hong Kong does not have a high risk of massive

natural disasters, such as earthquakes or tsunamis.

In fact, recent research rated Hong Kong as the

least risky market in Asia and 7th least risky location

across the world in which to build a data centre.

2 Power: Hong Kong’s utility power systems are

extremely reliable and do not suffer from major

outages or brown outs. Continuous availability of

power is very important, particularly for operators

supporting medical or financial services sector

that need continuous access to ‘mission critical

data’. Data centres also require large amounts of

power both to operate and to keep them cool and

fortunately, electricity in Hong Kong is relatively cheap

Stephen Hilton

Head of Critical Systems, EC Harris Asia

B u s i n e s s

compared to other markets. Furthermore, there is

continued investment in the electricity grid to improve

the standard of the power supply.

3 Data privacy: Many enterprises also need to

maintain certain levels of data privacy and in this

respect, Hong Kong is an attractive location, as

the freedom of information laws and effective data

protection enable organizations to protect the privacy

of the content stored and handled in their data

centres. The Hong Kong government will not try to

access it, as opposed to the governments in some

other markets across Asia.

4 Telecommunication cables: Hong Kong is a major

hub for international cable networks (nine submarine

cables and 17 overland cables) that provide secure

and low-latency international telecommunication and

data connectivity. These undersea cables, which

carry huge amounts of information across the ocean,

are very reliable and are not at risk of seismic activity,

which makes it a much safer natural environment.

5 Gateway to China: A key route to China, Hong

Kong is an ideal place to house data centres as

it offers enterprises that want to penetrate China

relatively close proximity to that location. Very much

like shipping cargo and money commonly fl ows into

China via Hong Kong, this market is a good place for

data services for companies looking to do business

in the Mainland.

The Hong Kong government is very aware of the

importance of housing data centres and has taken action

to help make the S.A.R. into Asia’s data centre hub.

However, there is still progress to be made. For example,

the number of sites designated as locations where data

centres can be built remains scant. There is also a lack of

suitable green fi eld sites and buildings for data centres,

and current restrictions can still make the process

onerous. To overcome these challenges, the government

has set up a Data Centre Facilitation Unit to assist

operators to fi nd and build new facilities. The government

has also introduced a scheme that offers incentives and

wavers to developers who choose to build high class

data centres.

Another challenge for the data centre industry is a

shortage of experienced data centre professionals —

not just in Hong Kong but across the world — who

are able to enter the data centre workforce with ease.

There are no, or few, college degrees with data centre

specific modules, and in many cases, the only way to

get skilled workers in this area is to hire experienced data

centre workers or to take graduates with mechanical

or electrical degrees and then induct and train them to

manage the complex and integrated support systems

that are required to operate a data centre. Training and

development is essential to ensure that the high level of

support required is available.

The big data phenomenon and the ant ic ipated

continuation of data proliferation mean that data centres

today have become critical to a company’s success and

competitiveness. Hong Kong is an ideal location in Asia

for data centre deployments for both local companies

and international ones that seek to penetrate the Chinese

market. However, issues remain and shortages in skilled

labour as well as limited locations for building or housing

data centres remain big challenges that must be overcome

if this opportunity is to be fully realised and Hong Kong is

to become Asia’s data centre Hub.

Britain in Hong Kong 1514

It has been forecast that there would be strong demand

for new aircraft through 2030, predominantly driven

by emerging markets. It is estimated that 40% of the

world’s commercial fleet will be based in Asia Pacific

by 2030 with an expectation that China alone will be

operating more than 5,500 aircraft. As a result, many

aircraft lessors are considering developing an Asian

aerospace hub, outside the traditional jurisdictions like

Ireland and the US, to capture this potentially lucrative

opportunity.

Critics have often commented that the options will be likely

Hong Kong, Singapore and China. Indeed, Singapore

has taken a major step to provide a more favourable tax

regime and policy incentives for aircraft lessors to set up

their operations in Singapore.

For Hong Kong to compete in this industry, it is paramount

that the Government should revisit the existing tax rules

and policy incentives to enhance the overall business

environment for aircraft lessors intending to operate in

Hong Kong. This would not only help Hong Kong maintain

its competitiveness as Asia’s key transportation hub, but

also further strengthen our position as a major international

fi nancial centre.

Key issues to note:

• Aviation Industry is forecast to be a growing industry in

Asia, in particular China

• Aircraft leasing has become an extremely important

source of funding for this industry

• Hong Kong has a special relationship with China and

is seen as the gateway to do business in China

Hong Kong as a New Transportation Hub

• Singapore has already taken a major step to

provide a competitive tax regime and incentives for

aircraft lessors

• With appropriate tax rule changes and added policy

incentives, Hong Kong can utilise its unique position

as the gateway to China to attract aircraft lessors to

set up their operations in Hong Kong, thus generating

additional tax revenues and further strengthening the

position as a major international fi nancial centre.

In a recent interview with the Financial Times, the new

Chief Executive, Mr C Y Leung, was quoted as stating

that the Government will do more to help local industries

by using some of Hong Kong’s fiscal reserves which

currently stand at well over six hundred billion Hong Kong

dollars. Although Mr Leung did not provide specifi c details

as to how the Government would add impetus to the

Hong Kong Economy, he did mention Singapore’s use of

tax incentives to shore up its shipping industry, and set

its sights on overtaking London as the centre for shipping

services.

What the Chief Executive actually has in mind with regard

to the above statements remains to be seen. It might be

that he and the Government will explore the idea of further

strengthening Hong Kong’s position as a transportation

hub in Asia. To tap into this opportunity, it is paramount

that the Government explores the possibilities with an

open attitude and considers any policies changes which

would help achieve such a goal. Fiscal issues, along

with infrastructure, education and training, environmental,

telecommunications and legal framework are among the

key policies which the Government should consider in

a coherent and coordinated manner when considering

encouraging any particular business sector.

Rex Ho, PwC Hong Kong Tax Partner,

Clarence Leung, PwC Hong Kong Tax Director

B u s i n e s s

With regard to the transportation industry, particularly the

shipping and aviation sectors, fi nancing of the assets is a

key consideration and should be specifi cally addressed if

the industry is to be encouraged. Essentially, the fi nancing

of these big-ticket items is either by (i) purchasing the

assets outright using loan financing or (ii) leasing the

assets. The decision of whether to buy or lease such

an asset is largely made on the basis of cash outflows;

however, other factors such as residual value of the assets,

replacement circle, technology obsolescence, repairs

and maintenance and fl exibility of the lease terms are also

of key importance and should form part of the business

decision making process. The last of these factors can

be very important as the cash investment requirements for

outright purchase of aviation and shipping assets are often

prohibitive for smaller companies, so acquisition under

fl exible lease arrangements can be a much more attractive

option.

According to Boeing, less than 1% of the global air fl eet

was leased forty years ago, but the fi gure is approximately

40% today. Aircraft lease fi nancing has come a long way

and become an important method to fi nance aircraft. With

the rapid growth in aircraft lease fi nancing, it has come the

development of favoured jurisdictions for the conduct for

such business.

In this regard, Ireland has the biggest aviation leasing

industry outside the United States, with nine out of the

top 10 aircraft lessors operating there. The Federation

of Aerospace Enterprise in Ireland (“FAEI”) published a

survey a few years ago to demonstrate the contribution

of the aviation leasing industry to the Irish economy. This

was perhaps the first time that a country carried out

such a survey in relation to aircraft leasing. According

to the survey, the aircraft leasing industry delivered over

€300 million in taxes to the Irish Government. It was also

interesting to note that 97% of the respondents stated that

tax was a critical consideration in choosing to locate their

business in Ireland.

Despite the economic downturn in the last few years and

the continued problems in the Eurozone market which

has an impact on the world-wide economic recovery,

China has been picking up on domestic consumption

over the past few years. The rapidly expanding affluent

individual sector in China has fuelled the demand for both

private and commercial air transport, leading to a surge in

aircraft fi nancing activities in China. It is clear that many

leasing companies are operating in China even though the

regulations and the tax law in China for leasing are both

very complicated and unclear. Therefore, it is difficult to

apply the same set of rules that are well tried and tested

in other jurisdictions when it comes to leasing in China.

Apart from the indirect tax burden on VAT (potentially up to

17% under the VAT pilot program in Shanghai) or Business

tax (5% on gross lease rentals or interest income), the

corporate income tax rate in China is 25%. Therefore,

the overall tax burden for aircraft leasing businesses

in China is significantly higher than other major leasing

centres, including Ireland. Additionally, withholding tax is

generally still applicable to lease rentals under the double

taxation treaty agreements signed between China and

other countries. These factors further hinder the progress

in developing the leasing industry in China, particularly in

relation to big ticket assets such as aircraft and ships.

However, the penetration rate of leasing in China is

merely 3% compared to the average rate of well over

17% in Europe or 10% in Japan. Given that China is

now the second biggest economy in the world and

has a rapidly increasing demand for air travel (with an

expectation that it will operate 5,500 commercial aircraft

by 2030), but a low penetration rate in the leasing

market, it is clear that there are potentially very lucrative

opportunities for aircraft lessors, particularly if the high

tax burden imposed under the current tax law can be

addressed.

Leaving China aside which is a special case on its own,

it appears that Singapore has caught up with Hong

Kong and has grown as a global transportation centre

and a leading international maritime centre. Critics have

indicated that this was due to the general features of the

tax system as well as the targeted tax incentives. Whilst

this may be true, it is also important to appreciate that

Singapore has also other incentives such as international

aircraft leasing incentives and offshore leasing incentives.

Although the head line tax rate in Singapore is 17% which

is higher than Hong Kong’s 16.5%, companies engaging

in approved aircraft leasing companies could enjoy a

tax rate of either 5% or 10%. All these policy incentives

demonstrate that the Singapore Government is committed

to appealing to international aircraft lessors to base their

Asian operations in Singapore, which is clearly working to

the detriment of Hong Kong.

Given Hong Kong’s unique position with regard to

Mainland China, as wel l as i ts mature f inancia l

environment, stable political environment and well

developed legal system, international aircraft lessors

looking to do more business in Mainland China naturally

consider setting up in Hong Kong. Nonetheless,

although Hong Kong is still seen as a gateway to China

and is one of the major cities in Asia for doing business,

the current Hong Kong tax rules on aircraft leasing

generally make it an unattractive location for aircraft

leasing to non-Hong Kong airlines. As such, we have

recently observed that more and more aircraft leasing

companies are looking to build their Asian presence in

Singapore and mainland China, rather than Hong Kong.

Accordingly, in order for Hong Kong to compete in this

potentially lucrative business in relation to the expanding

aircraft market in China and Asia-Pacifi c, it is necessary

that the Government enhances the policy environment

for international aircraft lessors in Hong Kong. Any

expansion of this sector in Hong Kong would not only

generate additional tax revenues for Hong Kong, but also

additional associated business activities which would

have benefi ts for the overall Hong Kong economy.

Britain in Hong Kong 1716

On 10 May 2012, the British Consulate-General Hong Kong launched the international GREAT Britain campaign

in Hong Kong with an exclusive event to celebrate the

long-standing partnership between the UK and Hong

Kong and to showcase British creativity and innovation

talent. Following events in New York, Rio and Tokyo, the

GREAT campaign aims to raise international awareness of

the multi-faceted appeal of the UK, attracting an extra 4

million visitors and a £1 billion boost for business over the

next four years.

Prime Minister David Cameron is spearheading the

country’s biggest-ever overseas campaign to boost

worldwide awareness of the UK as a GREAT place for

business, investment, tourism and study. The Foreign

Office, UK Trade & Investment, British Council and Visit

Britain are working closely on this impressive campaign to

reach a wide audience across the world.

British Consul-General to Hong Kong Andrew Seaton

said, “The relationship between the UK and Hong Kong,

already so important, continues to grow and develop.

Our partnership in the fields of creativity and innovation

are an increasingly important part of that mix. Many UK

designers draw creative inspiration from the vibrancy of

Hong Kong. For their part, Hong Kong people appreciate

what the UK has to offer in the fi elds of fashion, design,

food and technology. In recent years we have seen classic

and innovative British brands work with local partners

to achieve significant success here; and likewise many

Hong Kong businesses with global ambition have been

establishing a footprint in the UK.”

“The choice of Hong Kong as a GREAT campaign city

is a sign of how important it is to the UK. I am looking

forward to deepening relationships across the board.

2012 will be a chance for people across the world to re-

discover GREAT Britain and see with fresh eyes the vibrant

opportunities there for business, investment, leisure and

education,” Seaton added.

The Great event brought together future leaders, business

figures, local and international celebrities and young

entrepreneurs, in a theme of red, white and blue. Luxury

fashion designer Julien Macdonald showcased some of

his latest collection while Head Chef of Trinity restaurant

Adam Byatt serves modern interpretations of traditional

British cuisine, offering guests a taste of the creativity that

the UK has to offer.

The star-studded event also welcomed other visiting UK

figures including interior designer Kelly Hoppen, Hong

Kong-born Olympic torchbearer Steven Cheung and

gallery owner Michael Hoppen, a leading light in the world

of photography. British cirque group Tumbellina entertained

the guests with a breathtaking performance of acrobatics.

Announced by Prime Minister David Cameron in New York

in September 2011, the GREAT campaign has so far been

launched in 9 countries. These include the USA, Germany,

France, India, China/Hong Kong, Japan, Canada, Brazil

and Australia. Focusing on 17 key cities it aims to reach

over 80 million people through integrated platforms across

advertising, public relations, partnership/celebrity activity

and city-based events.

UK celebrities such as Sir Richard Branson, Vivienne

Westwood, Lily Cole and Victoria Beckham have signed

up as GREAT Ambassadors to support the initiative,

showcasing the breadth and depth of British talent and

with the common goal of inviting people to take a fresh

look at everything the UK has to offer.

GREATCampaign Launches in Hong Kong Campaign Launches in Hong Kong

B u s i n e s s

The GREAT Week of Creativity

From 5-11 November 2012, UK Trade & Investment will

be hosting a series of events, exhibitions and seminars in

Hong Kong, showcasing the explosion of innovation and

talent coming from the UK.

The aim of the week is to celebrate all that is GREAT about

Creativity with a focus on Fashion, Luxury, Design and

Craftsmanship.

The week will give a concise and in depth look at British

creativity, exploring issues at government and trade

level as well as engaging the general public through the

provision of cultural and educational events, open to all.

The outcome will be an exchange of ideas and knowledge

and to start a dialogue of how the UK and Hong Kong

creative communities can support and bolster each other

in a Global environment.

The focus is on the best quality of design; curation and

UK Trade & Investment will be working closely with leading

organisations to provide the best quality content to the

Hong Kong audience.

The British Government is working closely with Walpole,

the British Fashion Council, London Design Festival

and the Crafts Council to provide relevant and powerful

programmes with the best talent and expertise visiting

Hong Kong for the week.

The week will begin with a high profi le launch event that

will be hosted by the key organisations participating in the

week. Walpole will be awarding their coveted medals to

key industry fi gures from Hong Kong and a VIP audience

is expected to attend from both Hong Kong and other

areas of the Asia Pacifi c region, highlighting Hong Kong’s

role as a platform and springboard into the wider region.

Visiting companies and trade organisations will hold

collection previews and press days at the start of the

week, all of which will be publicised through a specially

developed mobile application that press and buyers can

register for, giving access to invite only events over the

week to registered users.

While still being confirmed UK Trade & Investment is

expecting up to 250 of the best British creative companies

to be attending Hong Kong over the week, one of the

largest trade missions ever undertaken.

To take advantage of the expertise and talent visiting

Hong Kong a huge project is being undertaken with local

educational institutions and creative hubs. Over the week

a series of lectures, workshops, seminars and master

classes will be taking place, all with the aim to give free

access to both the current and next generation of creative

talent here in Hong Kong. Work experience and CV

building opportunities are at the forefront of what the week

is looking to achieve.

Details of all the activities over the week will be uploaded

onto UKTI’s free mobile app and website so that there is a

central place to search for events and apply for tickets.

UK Trade & Investment is working with existing local

companies such as department stores and malls to have

high impact public and consumer facing events. The

organisers are working to bring out new companies for

one off availability, pop up shops and special projects

to raise awareness and generate additional business

opportunities for participating companies from both the

UK and Hong Kong.

There are many opportunities to get involved; from

sponsorship through to organising and participating in

relevant or individual events. For more information on

how you can participate in the Great Week of Creativity

you can contact the event organiser Kate Strutt at

kate.strutt@fco.gov.uk.

Britain in Hong Kong 1918

Martin Rimmer,

Head of Tax – Asia Pacifi c, The Fry Group

LEAVINGHOME

Many British families arrive in Hong Kong over

the summer all in good time for the start of the new

academic year. If this is you, congratulations! You have

just landed in what is probably the best place in Asia to

be a working expatriate!

Yet, as you know, moving countries is a real upheaval and

even if your employer provides relocation assistance, there

is no getting away from the fact that a huge amount needs

to be done in preparation for the move – not to mention

arriving here, settling down, finding a home and then

getting on with the business of performing in a new role.

One of the things that tend to be neglected is the matter

of personal taxation. So, having successfully helped

thousands of people to ensure that their expatriate lives

are structured as tax-efficiently as possible, I thought

it would be helpful to set out a few thoughts on the

implications of leaving the UK from a tax perspective,

what you need to do and be mindful of.

Firstly, you need to tell HM Revenue & Customs. This

is very simple, and can be done by fi ling the Form P85.

This form lets the Revenue know when you left, how long

you expect to be abroad and one or two other details.

You can download this from www.hmrc.gov.uk and you

should send it back to your local tax office in the UK.

There is no deadline for submitting this form. You will not

be held to your answers, though obviously you need to

complete the form carefully.

Secondly, if you will be letting your property in the UK,

you will need to file the Form NRL1 (again, visit www.

hmrc.gov.uk). Application into the Non-Resident Landlord

Scheme will ensure that your rental agent does not deduct

income tax from your rental income. The profi t from your

rental is still subject to tax, but that is only picked up when

your tax return is completed – if you need one.

Third, if you are paying into a personal pension scheme

in the UK, let your pension provider know that you are

moving abroad. You may still be able to contribute,

though at much reduced levels. The rules are complex

and further advice is likely to be needed.

Fourth, you may need to continue to file a tax return.

Indeed, most departing expatriates are entitled to tax

refunds in the year of departure. It would be well worth

checking with us what your position is, and whether you

are going to need to continue to file - we can file tax

returns for you. In any event, it is wrong to assume that

you need only fi le a tax return if HMRC sends you one –

B u s i n e s s

the truth is that it is up to you to fi le if you need to, even if

HMRC is silent.

Fifth, moving to Hong Kong is not going to save you

a penny in UK tax unless you ‘break residence’ from

the UK. This means that you will need to meet certain

conditions and if you have left the UK over the summer,

at a bare minimum you would need to ensure that:

• You have stopped living in the UK and have started to

live in Hong Kong,

• You are engaged in continuous full-time overseas

employment until at least 6th April 2014, performing

minimal duties in the UK

• You spend less than 91 midnights in the UK on

average per UK tax year from the point of departure

The rules are actually quite a bit more involved than this

and will be changing quite dramatically on 6th April 2013

in any case. So, if you have not already taken advice,

I would recommend that you do so. The vast majority

of British people who leave the UK to work abroad

do achieve non-resident status, but it is important to

understand the ‘trigger points’ at which the status might

be endangered. There are also separate conditions which

need to be met in order to escape the UK capital gains

tax system. Your exposure to Inheritance Tax on world-

wide assets is unlikely to change as a consequence of

moving abroad.

Sixth, if you can break residence from the UK, your

earnings and all other non-UK sources of income would

be exempt from UK taxation. Most continuing sources

of income arising in the UK remain taxable, though most

can continue to benefi t from standard tax allowances.

Seventh, once you have left the UK, you are no longer

allowed to contribute to ISAs. You can keep the plans

you already have, but you cannot continue to fund them.

This is not a problem, as you can make investments

outside of the UK without having to pay income tax

provided that you are safely non-resident. There is a

vast array of savings and investment options which are

available to you, though real care is needed to ensure

that you select investments and providers wisely.

Cold-calling is rife here in Hong Kong, as is the use of

contractual regular savings plans. These are typically

sold as ‘pension plans’ (though they are not recognized

in the UK as ‘pensions’ in the true sense of the word). As

investment vehicles, they are fi ne and there is no reason

why a properly thought through investment strategy

could not work well for you. However, the contracts tend

to be very expensive with long ‘tie ins’ and high surrender

penalties. We think that there are much cheaper and

more fl exible solutions. The watch word is simply to be

vigilant and to ensure that you are fully aware of the cost

and terms of any product before you buy.

Many expatriates have bad initial experiences, but that

does not need to be the case. Find a provider who

you can trust, who provides expertise across many

disciplines, who is properly regulated by the SFC as

well as by the FSA in the UK and who is completely

transparent about terms and charges – what you will pay,

what the adviser will receive and the period of over which

charges are due.

Finally, seek advice! Leaving the UK provides a

wonderful opportunity to shake off a higher tax regime

and to move into a low-tax environment which does tax

most forms of investment income and gains. However, it

is rare for these advantages to be obtained ‘by default’.

It would certainly be worth taking formal advice on your

position and to ensure that you fully understand how you

can profi t tax-wise from your time in Hong Kong.

The Fry Group provides UK taxation, fi nancial planning,

pension planning, UK will writing and inheritance tax

planning for British expatriates in Hong Kong. Our

office is located at #20-05 Tower 1, Lippo Centre, 89

Queensway, Hong Kong – Tel, 2526 9488. We offer an

initial consultation without charge or obligation and are

the trusted partner to thousands of British expatriates in

Hong Kong and around Asia. www.thefrygrouphk.com

The Fry Group can help in all of the areas highlighted

in this article, as well as many more! If you have any

questions or would simply like to chat through your

own situation, please do not hesitate to contact

myself, or James Sutton in the Hong Kong office

info@thefrygrouphk.com

Britain in Hong Kong 2120

When looking for similarities between London and Hong

Kong, you might normally expect

to compare their statuses as

the traditional financial centres

of Europe and Asia, their roles

as regional bases for major

international corporates and

retai lers, and of course their

importance as regional transport hubs and must-see

destinations for tourists.

You might be surprised for me to suggest that London

could also be considered as an emerging commercial real

estate market. As one of the biggest and most dynamic

economies in the region, it is continually expanding

its ‘core’ to encompass the growing requirements of

its population and businesses. I will leave aside the

comparison with Hong Kong for the moment and we can

return to it a little later.

As host for the 2012 Olympic Games, London’s venue for

the Olympic Park in the East End has undergone a major

regeneration programme since the city was awarded the

games on 05 July 2005. Over the past decade CBRE has

been heavily immersed in this project, whose success will

not only be judged on completion of the Olympic facilities

themselves, but on the legacy and long-term opportunities

brought about by the regeneration for Londoners and

investors alike.

When London was awarded the 2012 Olympic Games,

the 500 acre bid site was still an industrial heartland but

situated just 3 miles from the City of London and 17

minutes by Tube from the very centre of London, Oxford

Circus. Although there was good infrastructure in place

in 2005, prior to the bid East London and specifically

Stratford had suffered economically for a number of

years. Fragmented land ownership, lack of investment

and industrial contamination meant that options for

comprehensively re-developing this area were incredibly

limited. Over a two year period, CBRE acted for the

London Development Agency, the regeneration arm of

the Mayor of London, acquiring this land and relocating

businesses occupying over 3.5 million sq ft to deliver a

cohesive site by June 2007, thus enabling the building of

the Olympic Park. This was the largest and fastest land

assembly project ever undertaken in Europe.

The success of London’s bid was heavily predicated on

the regeneration proposals for the site and wider area. The

big question is: Will London succeed where (some) others

have failed in delivering an Olympic Games where the host

city is the real gold medal winner?

Speaking with my colleague Matthew Black, CBRE’s

Senior Director for Central London Development Team,

who as adviser to the Olympic Delivery Authority has been

involved with the development of the Olympic Park since

its inception and was responsible for the negotiations

surrounding the land acquisitions, we believe the answer

An Olympic-sizedAn Olympic-sizedOpportunity for Hong KongOpportunity for Hong Kong

Craig Shute, Senior Managing Director for

CBRE Hong Kong, Macau and Taiwan

Craig Shute

B u s i n e s s

is a resounding ‘yes’. The immediate Olympic site

and the wider surrounding area has already attracted

international developers and private capital due to the

signifi cant opportunities brought by the opening up of this

strategic site. We estimate that £2 billion (HKD24bn) has

been invested in the last two years alone, representing

commitments to deliver more than 6,000 homes and 5

million sq ft of commercial space.

Austral ian shopping centre group Westf ield has

constructed Europe’s largest indoor shopping mall,

totalling 1.9 million sq ft, which remarkably opened with

95% of its space let in the eye of the economic downturn

in September 2011. The centre has had a strong impact in

changing the economic outlook for the area and external

attitudes towards it. On its own, the centre is projected to

provide 18,000 jobs in Stratford. Westfield’s investment

has already been vindicated – Dutch pension fund APG

and the Canadian Pension Plan Investment Board bought

a 50% stake in Stratford City for £870 million in late 2011.

Westfi eld has also completed the fi rst phase of its offi ce

developments and over 100,000 sq ft of grade A space

has been let. Likewise, the Athletes Village presented

a major investment opportunity for investors seeking

to access residential opportunities in London’s supply-

starved market. The private element was built on time

and on budget and pre-sold to property investor Delancy

and Qatari Diar, the property investment arm of the Qatar

government, for over £550 million in 2011 - Britain’s

largest private rented sector deal. After the Games this will

accommodate over 4,000 inhabitants.

Other components of the Olympics infrastructure provide

clear opportunities for the area and further investment

post-Games. This includes the 1 million sq ft Press and

Broadcast Centre. Two fi nal submissions for future usage

are currently being assessed, and whoever is successful

will bring a further 5,000 workers and a signifi cant number

of new employment opportunities to the area.

Lend Lease and London & Continental Railways are also

planning to build 4.5 million sq ft of offices. Discussions

are taking place with occupiers who are more usually

associated with Central London offi ce locations who are

attracted by the opportunity and plans for HS1, which will

provide a direct high speed rail link to continental Europe.

Creating a destination like the Park is incredibly important

for the legacy of the Games and Stratford’s ability to draw

in investors after the athletes leave. London is unique

in that creating a legacy and an attractive investment

proposition was an intrinsic part of the bid.

Regeneration and legacy isn’t just about what has

happened within the confines of the Park however. Inter

Ikea, the Swedish pension fund related to the Ikea Group,

has purchased approximately 29 acres of redundant

industrial land at Sugar House Lane and submitted a

planning application for 1200 new homes, 400,000 sq ft

of commercial space and has pre-let the 350-bed Marriott

hotel. Investment on this scale is a huge endorsement by

the private sector of the work undertaken to change the

perception of the area of London and to attract private

investors.

How will history judge the London 2012 Games? The

post-Games regeneration vision of building a thriving

commercial hub in Stratford has remained steady over

time and the area now represents a credible alternative

location for occupiers and investors to London’s more

established markets. The fact that the majority of the large

assets have been funded or acquired by international

capital is a major endorsement of how London has seized

the opportunity created by the event.

Referring back to the comparison of London and Hong

Kong, I am not suggesting that Hong Kong should bid

to host the Olympics any time soon, although we did

successfully play our part hosting the equestrian event

during the Beijing Olympics, not forgetting that we

are annual hosts of the world’s premier rugby sevens

tournament. However like London, Hong Kong is in

need of a credible alternative location for occupiers and

investors to meet the requirements of international and

local businesses and also directly benefit Hong Kong’s

people.

Referring to the example of East London, pre-2005 it

was an area with a poor reputation, considered to have

few prospects - an industrial heartland with fragmented

ownership and a destination deemed too far from

Central London. Here in Hong Kong, we could easily be

talking about Kowloon East. While we don’t have a big

ticket event like the Olympics, we do have the CBD2

redevelopment project which covers a similar scale 488

hectares of land including 320 hectares on the former Kai

Tak site, we do have the wider West Kowloon Cultural

District project, we do have the upcoming high speed

rail connecting Hong Kong to the mainland and we do

fundamentally have the need to follow London’s example

and continually look to reinvent our city. We do need a

master-plan to successfully regenerate our city if Hong

Kong is to continue its role as Asia’s premier business hub.

Let’s go for gold.

Britain in Hong Kong 2322

The Hong Kong CleanupI n H o n g K o n g w e

generate a shocking 6

MILLION TONNES of

waste every year, but only

a small portion is recycled.

Our landfills are almost

full, and a vast amount

ends up in nature.

Having engaged over 60,000 volunteers in cleaning

up over 250,000kg of trash, and now in its 12th

year, Ecovision’s Coastal Cleanup Challenge is firmly

established as a well-loved and vital part of the Hong

Kong event landscape. This event is part of a global

eco initiative by Ocean Conservancy - The International

Coastal Cleanup, which takes place in over 100 countries

and last year alone mobilized more than 600,000

volunteers. Yet 11 years of data and volunteer feedback

show a need for even greater community engagement

and action here in Hong Kong.

T h u s , E c o z i n e a n d

National Geographic

Channel (HK) are proud

to bring you: the Hong

Kong Cleanup . As

part of this year-long

educat ion p la t form,

we are expanding beyond beaches and coastlines to

cleaning up country parks, urban areas, offi ces, homes

and schools, with the support of Presenting Sponsor,

Nomura. Now there are many more ways for you to

participate with your colleagues, school, family, friends or

community!

Everything is connected – the land, the sea and the

air we breathe. What we do at home, at school, in the

office or in our neighbourhood, can affect ecosystems

hundreds of kilometres away in the ocean. Everyone can

be part of the solution - from product development to

disposal, we all have a role to play. Together, we can halt

the fl ow of trash into our precious oceans!

Do you love Hong Kong? Want to be part of something

big? Join hands with the Hong Kong Cleanup. Together,

WE CAN MAKE A DIFFERENCE! Visit HKcleanup.org

today and sign up a tem today!

Three team challenges = More ways to participate!

1. Coastal Cleanup ChallengeWith its expansive coastal areas, fi shing and shipping

industries, marinas, boating and water sports, Hong

Kong has a special relationship with the marine

environment, and as such it is vital for us to take part

in its protection. Beach cleanups bring awareness to

the vast and vital issue of marine debris, and allow

participants to engage with our beautiful coastal

ecosystems.

2. Country Cleanup ChallengeHong Kong’s country parks are one of our most

valuable assets. They offer not only beautiful vistas

and recreational activities such as hiking, cycling

and camping, but also absorb carbon dioxide and

are home to many species of wildlife. Detrimental

.com

The Hong Kong Cleanup

E nv i ro n m e n t

amounts of litter and trash can be found in all of our

country parks, and the issue needs to be addressed.

Cleanups educate about littering and its effect on the

natural world we all need and enjoy.

3. City Cleanup ChallengeEvery day, more than 10,000 street cleaners manually

sweep and remove copious amounts of litter and trash

from our city streets. Trash from our homes, offices,

schools and neighbourhoods is bagged and sent to

already-full landfills, or swept down storm drains and

washed out to sea. We need to look at our urban

behaviour and stem the flow of trash at the source.

Cleaning our city streets, offices homes and schools

will provide an eye opening experience for many. City

Cleanup Challenges can take the form of a single day

cleanup or a longer-term monitoring activity!

Get involved!

Joining the Hong Kong Cleanup is brilliantly simple!

Registration will begin in late August, and it’s FREE for

everyone! Participation happens in four simple steps:

1. Create your CleanupSimply visit HKCleanup.org and follow the simple steps

to create your event. You’ll be able to choose your

date, location and Challenge type, and invite friends

instantly through social media or email. Your team can

be anywhere from 3 people to 300 people, and can

include colleagues, classmates, friends, or anyone

you choose to invite! You can also create as many

Cleanups as you wish. After signing up, you’ll have the

chance to select your free briefi ng session.

2. Attend your FREE briefi ng sessionAll team captains may attend a free group briefing.

At the briefing, you’ll learn how to conduct a safe,

fun, successful cleanup and get the most out of

the experience. You will receive full support as well

as educational materials and data tools. Many

useful materials can also be downloaded from our

comprehensive website.

3. Go clean!On your chosen date or term, your team will clean your

chosen area, or activate your monitoring activity. You’ll

not only be making Hong Kong more beautiful, but

raising awareness, collecting vital data, and having a

fun, engaging experience with your company/school/

group/family!

4. Share your resultsAfter completion, simply login and enter your Cleanup

data to be included in our local and global reports as

well as to be eligible for team prizes in the Challenge.

You’ll also be able to share photos and stories, follow

us on Facebook and Twitter, and check out what other

teams have done. Watch out for your invitation to our

Awards Ceremony in November!

What can you do?

Ten simple things YOU can do to make a

difference:

1. Bring a reusable bag to do your shopping.

2. Carry a reusable, BPA-free water bottle or thermos.

3. Vote with your dollar – avoid purchasing anything

overpackaged, and choose products that are

returnable, reusable or refi llable.

4. Separate the recyclables in your home for easier

recovery and recycling.

5. Consider reusable containers and chopsticks or

cutlery for purchased takeaway school or work

lunches.

6. Donate used household products, clothing, and

furniture to charity rather than throwing them away.

7. Write to your local district councillor and voice your

support for better waste policies.

8. When hiking, camping or enjoying the outdoors

keep your litter until you can dispose of it in a

proper receptacle.

9. Get your community, school or workplace involved

in monitoring and reducing waste, and set up a

recycling system.

10. Sign up a team today for the Hong Kong Cleanup

Challenge: visit Hkcleanup.org!

Britain in Hong Kong 2524

Our adventure began as soon as we touched down in the northern city of Chiang Rai

where we were met and transferred in the comfort of a private car for an hour further

north through paddy fi elds and past ancient hillside villages, eventually ending at the

West Post, a small dock located on the banks of the Ruak River. Here, the camp host

was waiting for us with some deliciously cold towels and cool refreshments, before

ushering us down some steps and into a traditional long-tail boat. Barely uttering a

word as we were taken upstream for ten minutes, we were

all totally mesmerized by the beauty that surrounded us,

when the camp suddenly came into view jutting out of the

jungle, dramatically yet elegantly in front of us. Located in

the heart of the Golden Triangle and set amidst 200 rugged

acres along the river on the Thai-Burmese border the camp

boasts stunning views of the lush tropical jungle, with the hills

of Eastern Burma in one direction and the mountains of Laos

towards the northeast.

With so much on our doorstep here in Hong Kong we are often spoilt for choice on where to go for one’s next

holiday. The close proximity of Thailand, as well as the unique mix of what it has to offer keeps us coming

back, time and time again. In early July I was lucky enough to go on a once-in-a-lifetime trip to the northern

tip of Thailand for an all-inclusive stay at the Four Seasons Tented Elephant Camp. Whilst I had done a small

amount of research beforehand nothing could have prepared me for the most unforgettable few days spent

elephant trekking through lush jungle, whilst unwinding in superb luxury tented accommodation in the heart of

the Golden Triangle.

All-inclusive

ELEPHANT ADVENTURE

L i f e s t y l e

We were greeted at the camp pier by another group of friendly staff all exuding the

same warmth and kind nature that seems to go hand in hand with the Thai people.

Whilst checking in, the delightful camp manager, Vikas, told us the interesting

story of how the Four Seasons Tented Camp had come into being. With a ban on

logging imposed in Thailand in 1989, many elephants were no longer needed in the

countryside and they soon became a burden on their owners. As such, many were

taken to the cities where they were made to ‘entertain’ for

a living. Under the guardianship of the Thai Government’s

Elephant Conservation Centre (TECC) the Four Seasons set

up an adoption programme to help rescue elephants from

the streets, giving them the opportunity to live in a natural

environment again as well as providing wages and benefits

for their owners (the mahouts). The adopted elephants are

now cared for on-site and can be seen roaming the jungle

that surrounds the camp as well as during breakfast where

guests have the unique opportunity to feed them.

Checked in and ready to explore we were lead across an

Indiana Jones-style suspension bridge and along the thick

bamboo jungle pathway to our tent. One of just 15 that make

up the entire camp, the canvas-covered, air-conditioned

tent was huge with gorgeous comfy beds, a standalone

copper bathtub, an outdoor rain shower and a large private sundeck with stunning views towards Burma and Laos.

All the handmade furnishings and fi nal touches are customized on 19th century expeditions from the region, so it had

a real old-world rustic feel with sophistication and luxury all rolled into one. The tents are all built at enough distance

away from each other, maintaining a sense of privacy and seclusion, whilst savouring the peaceful ambiance of the

surrounding jungle. Leaving the sundeck and elephants, that had come to pay a visit, behind, we headed for the

riverside free-form pool to enjoy an obligatory kir royale whilst having a plunge amongst the serene bamboo jungle.

Our next port-of-call was the stilt-top Burma Bar where, in the warm evening light, we sampled the various cocktails

on offer as the golden sun set over the Burmese hills. A delicious supper awaited us at Nong Yao restaurant followed

by some cheese and wine tasting in the huge wine cellar. Phew – what a day! Exhilarated yet exhausted we collapsed

into our pillow-top beds and it wasn’t long before the sound of geckos were the only noise to be heard.

The next morning I somehow managed to peel myself away from the comfort of my bed and took part in an early

morning exercise/yoga session in an outdoor pagoda, followed by a small hike up to the viewpoint to see the

sunrise. A well-earned breakfast followed and was fi lled with much amusement due to the company of our hosts…

the adorable baby elephants who were patiently waiting  for the guests to  feed them endless handfuls of bananas,

pineapples and anything else on offer. Whilst they were gauging on their feast, I was meanwhile tucking into another

incredible spread that had been laid in front of us which certainly set us up for the main activity of the trip.

With a slight feeling of apprehension (mainly because

of the sheer size of these vast mammals) we

ventured towards the elephant camp to meet the

mahouts and to be assigned an elephant each. It

didn’t take long to feel more at ease thanks to our

extremely patient guide and the mahouts themselves,

who taught us various commands in Thai. Like a

scene from the Jungle Book, we were soon marching

along at a pleasant pace giving various orders, when

suddenly I realised we were heading straight for the

river. We had been told that the elephants like to

bathe whilst trekking but I didn’t anticipate to what

extent. Noone could contain their laughter as my

elephant ‘Thom Kap’ totally submerged herself and I

beneath the muddy water. All I could do was cling on for dear life but there was

no stopping her as this was closely followed by a continuous shower from top

to toe! Despite being utterly sodden on the trek back to the camp we were all

in complete stitches. After a mandatory photo shoot with our new best friends

we headed back to freshen up in the comfort of our tent which was defi nitely

called for!

Britain in Hong Kong 2726

After a nap on our sundeck and another exquisite meal of delicious Thai fare in Nong

Yao we spent a cultural afternoon exploring the Golden Triangle by long-tail boat

as we were taken along the Mekong river to the actual intersection where all three

countries met, followed by a trip to a local market and temple. Back at the camp and

to end a perfect day we headed to the Spa where we were treated to the aptly named

‘Mahout Recovery massage’ which worked wonders on our sore muscles. The spa

setting was as spectacular as they get, sitting atop a hillside in an open environment

amidst the jungle. It wasn’t long before I had totally passed out in the warm tropical

breeze to the sound of birds singing and geckos calling. Bliss!

It is safe to say that our stay at the Four Seasons Tented Camp was above and

beyond all our expectations. Someone had told me before the trip that I was about

to go on a holiday of a lifetime, the memories of which will stay forever, and it’s fair to

say that I now know exactly what they meant. The fl awless way in which the camp is

run, the attention to detail and the exemplary service that the staff provide at all times,

complemented by the unique natural beauty of the surrounding setting, made for

an unforgettable holiday and one which I hope I am fortunate enough to experience

again one day.

For more information about the Four Seasons Tented Camp

please visit their website:

www.fourseasons.com/goldentriangle/

To make a booking please contact Lightfoot Travel on

+852 2815 0068 or email info@lightfoottravel.com

Bespoke t r ave l company L igh t foo t Trave l

(www.lightfoottravel.com) is an Asia-based tour

operator specializing in tailor-made holidays,

honeymoons, short breaks, boutique accommodation

and private villas in Asia and beyond.

L i f e s t y l e

Britain in Hong Kong 2926

Upcoming Events

Kindly brought to us by Prudential, a special lunch event took place in the Island Shangri La hotel on Thursday the 12th of July,

when Dr Richard Jackson from the Center for Strategic and International Studies in Washington D.C gave a presentation about

the major fi ndings of a recent survey of workers and retirees in East Asia. Commissioned by leading life insurer Prudential plc,

a survey of workers and retirees in six major geographies in Asia was carried out by the Center for Strategic and International

Studies (CSIS), a US-based public policy research institution. The study focused on China, Hong Kong, Malaysia, Singapore,

South Korea, and Taiwan and highlighted issues associated with demographic and cultural shifts, the East Asian population’s

changing attitudes towards retirement, and implications for governments and businesses.

Past EventsBalancing Tradition and Modernity: The Future of Retirement in East Asia– Dr Richard Jackson, Centre for Strategic and International Studies

Update on China-Hong Kong Double Taxation Event date: Thu, 18/09/2012 - 12:30 - 14:00Venue: Conference Room, 6th Floor, British Consulate-

General

Louis Lam and Monica Xu, Partner and Senior Manager of the International

Assignment Services with PwC Hong Kong, will take you through the details of

China’s new tax law — which aims to reduce the problem of double taxation, and

what it means for HK residents working in China in an interactive seminar. The

British Chamber of Commerce in Hong Kong has planned a Trade Mission to

Macau on Thursday 20th September 2012.

Macau Trade Mission 2012 Event date: Thu, 20/09/2012 - 12:00 - 19:00Venue: Macau

The British Chamber of Commerce in Hong Kong has planned a Trade Mission to

Macau on Thursday 20th September 2012.

The Statutory Residence Test: What You Need to Know Event date: Thu, 20/09/2012 - 12:30 - 14:00 Venue: Conference Room, 6/F, The British Consulate-

General

On 6th April 2013, the old uncertainties will largely disappear as three centuries of

case law and the very limited pieces of statute law are swept away and replaced by

a new Statutory Residence Test. In this presentation, Martin Rimmer, Tax Manager,

Asia-Pacifi c, The Fry Group, will outline the key pillars behind each of the three tests,

provide worked examples and will equip you with an understanding of the new rules.

He will also explain where the danger areas lie and where care will still be required.

YNetwork Ping Pong Tournament 2012 Event date: Thu, 20/09/2012 - 19:30 - 21:30Venue: SCAA, 8/F, Table Tennis, Sports Complex

The Young Executives’ of the British Chamber have organised their fi rst ever Ping Pong Tournament, and

it is set to be a fun-fi lled night!

Women in Business Networking Lunch Event date: Wed, 26/09/2012 - 12:30 - 14:00Venue: Oolaa

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

chamber members. September’s lunch will take place at Oolaa in Soho. Non-members are very welcome

to attend.

Shaken Not Stirred Networking Drinks Event date: Thu, 27/09/2012 - 18:30 - 20:30Venue: The Globe

Supported by the Environment Committee, this month’s networking drinks we aim to help build waste

recycling awareness among Chamber members and inspire all to take action over drinks and canapés at

one of Hong Kong’s best-loved local!

The British Chamber and Tanner De Witt present: Breakthrough Boxing 2012Event date: 13 Oct 2012 - 19:00 - 23:59

Our popular annual charity boxing event, held in association with Operation Breakthrough. Don’t miss

this night of action and excitement at the Hong Kong Football Club on Saturday 13th October 2012.

Well Connected. Worldwide.™ crownrelo.com/hongkong

MANAGEMENT & LETTINGPRIME CENTRAL LONDON

A well tried, tested. Comprehensive and personal service provided by

an experienced and dedicated team, who understand the needs of the

International Investor.

Letting * Management * Refurbishment * Online Statements * Tax

Returns for Overseas Investors * Regular Visits by Directors.

Contact:

Perry Bousfi eld Neil West

Director Property Manager

Perry.bousfi eld@primeportfolio.com neil.west@primeportfolio.com

Prime Portfolio

45 Charles Street

Mayfair

London W1J 5EH

Tel: +44 (0)207 409 0209

Fax: +44 (0)207 629 6050

www.primeportfolio.com

Member DiscountsFood and Beverage and Accommodation

Accor | Members will receive 10% discount on top of the lowest rates that Accor’s

Asian hotels are offering on the day. This applies to over 1600 Sofi tel, Pullman, MGallery,

Novotel, Mercure, Thalassa & Orbis hotels worldwide. You will also receive 5% discount

on top of the best unrestricted rates for hotels including ibis (in specifi c countries), All

Seasons & Hôtel Barrière. For more information please contact Regina Yip on 2868

1171 or email regina.yip@accor.com

Alfie’s | Members of the British Chamber of Commerce can benefit from a 10%

discount at this chic restaurant in Hong Kong. To make a reservation please call 2530

4422 or email booking.alfi es@keeclub.com

Berry Bros. & Rudd | Members can benefi t from a 10% discount on all retail prices as

well as receiving invitations to free tastings and other wine events during promotional

period. For more information please call 2907 2112

Courtyard by Marriott Hong Kong | Members will receive a 10% discount on food

only in MoMo Café. To make a reservation please call 3717 8888

Dot Cod | All members of the British Chamber of Commerce of Hong Kong will receive

a 10% discount on the bill. For more information please call 2810 6988 or email

dotcod@hkcc.org

Grand Hyatt Hong Kong | 15% discount on food and beverage at The Grill and

10% discount on treatments upon spending HK$1,000 at Plateau Spa. To make a

reservation please contact The Grill on 2584 7722 or the Plateau Spa on 2584 7688

Hyatt Regency Hong Kong, Tsim Sha Tsui | 10% discount at The Chinese

Restaurant, Hugo’s, Cafe and Chin Chin Bar (except during happy hour). To make a

reservation please call 2311 1234

JW Marriott Hotel Hong Kong | Members will receive a 10% discount on the total

bill at Man Ho Chinese Restaurant, JW’s California, Marriott Cafe, The Lounge, Riedel

Room @ Q88, and the Fish Bar & Grill. To make a reservation please call 2810 8366

Le Méridien Cyberport | Members can book a Smart Room at the special rate of

HKD1,600 including a daily eye-opening buffet breakfast (subject to availability). You

will also receive 20% discount at 5 of the hip restaurants and bars that the hotel has to

offer. Furthermore, when you book the 21-day long room package at HKD23,100 you

will receive a ‘Round Trip Limousine Service’. For more details please call 2980 7785

Hong Kong Skycity Marriott Hotel | Members will receive a 10% discount on the total

bill at Man Ho Chinese Restaurant, SkyCity Bistro, Velocity Bar & Grill, and The Lounge

(Promotion does not apply to alcoholic beverages). To make a reservation please call

3969 1888

Renaissance Harbour View Hotel | Members will receive a 10% discount on the total

bill at Michelin Star Dynasty Chinese Restaurant, all day dining at Cafe Renaissance, Scala

Italian Restaurant and the Lobby Lounge. To make a reservation please call 2802 8888

The Mira Hong Kong | Members will be given special room rates, a complimentary

upgrade and fantastic discounted rates on the Spa suite package (subject to availability).

For more information please contact Connie Kwan on 2315 5666 or email connie.

kwan@themirahotel.com

W Hong Kong | Members will receive fantastic offers at Kitchen and Sing Ying. Dine at

either of these restaurants and receive complimentary discount vouchers to use at your

next meal. For more information or to make a reservation please call 3717 2222

There are many great benefits of being a member of The British Chamber of Commerce. One of those is the

Member Discounts programme which is an exclusive package of discounts that range from discounted car rental,

reduced hotel accommodation, airfares and even relocation costs.

Every six months we invite members to prepare a tailor made offer to all the members of the British Chamber. You

can fi nd these benefi ts listed below and for more details please visit our website www.britcham.com

Home

Allied Pickfords Hong Kong | Allied Pickfords will extend a free local move for any

Home Search completed by SIRVA Real Estate. For more information please call 2823

2089 or email olivier.jourdan@sirva.com.hk

Bowers & Wilkins | B & W are offering members a 10% discount on all listed price

items in the B&W Showrooms in Tsim Sha Tsui and Central. For more information

please call 3472 9388 or 2869 9916

Colourliving | As a member of the British Chamber of Commerce, you can enjoy a 10%

discount on all normal price merchandise when shopping at Colourliving in Wanchai.

Please call 2510 2666 or visit www.colourliving.com

Travel & others

Avis | Members can receive up to 20% discount off standard rates on car rental

bookings. To make a booking please call 2882 2927 or visit www.avis.com.hk

British Airways | As a member of the British Chamber of Commerce you can enjoy

an exclusive offer of 7% discount from British Airways. To make a booking please visit

www.britcham.com/memberdiscount/british-airways

Compass Offi ces | Compass Offi ces, Hong Kong’s largest Serviced Offi ce provider,

offers members a 10% year round discount on meeting rooms, a free one hour

Telepresence or Video Conferencing session and a 3 month complimentary Virtual

Office package. For more information please call 3796 7188 or email hksales@

compassoffi ces.com

Flight Centre | Members will receive HKD150 off the fi rst booking made as well as a

complimentary Airport Express ticket per booking. For all holiday and fl ight enquiries

please call Paul Jeffels on 2830 2793 or email paul.jeffels@fl ightcentre.com.hk

Regus | Britcham members will receive a complimentary six-month Businessworld Gold

card that gets you access to 1,200 business lounges in prime central city business

locations in Asia and around the world. For more information or to accept this offer

please visit www.regus.hk/localpartnership and enter the activation code APHKBCC

in the Promotional Code box.

The Hive | The Hive is offering one additional month’s membership at no extra

charge for any member who signs up for 6 months. For further details, please visit

www.thehive.com.hk

Virgin Atlantic Airways | Special offers to London are available exclusively for

members of the British Chamber of Commerce. Please call 2532 6060 for more details

or to make a reservation

VisitBritain | British Chamber members can get 5% on all purchases from VisitBritain’s

online shop by entering the code TR7DE67! at the checkout.

Please visit www.visitbritaindirect.com/world for further details.

Terms and Conditions apply. All member discounts are subject to availability. If you are interested in providing a tailored

offer to our members or for more information please contact Emily Ferrary on 2824 1972 or email emily@britcham.com

Britain in Hong Kong 3332

To enter:

• Consider who among your contacts might be interested in joining the Chamber

• Email dovenia@britcham.com with the name and contact details of your suggested company

• If appropriate, contact your suggested company and let them know that the Chamber will be in touch

• The Chamber will follow up with each suggestion directly

• If your referral is successful, the Chamber will contact you with details of how to book your dinner. Your name will also go into

the prize draw which will be drawn in March 2013.

Make a successful referral to the

British Chamber of Commerce

and enjoy a fantastic meal for two!

AND if you happen to refer the most new members to the Chamber, you are in for a real

treat for you and your friends! A complimentary dinner for four at Sakesan, the newest

Robatayakibar, courtesy of Cafe Deco Group.

Sakesan

Sakesan is the newest Robatayakibar in the heart of the bustling Soho area. It offers a range of

exquisite dishes fresh from their robata grill, as well as other Japanese culinary delights, all rendered

with a modern twist. Designed by Fiona Bagaman and Mirei Lim, Sakesan uses different wood

and stone tones with fl ashes of black and gold to create a serene, relaxed and cool space. Funky,

colourful sake barrels wrap the bar

area and frame the individual dining

booths and an illuminated Japanese urban scene gives the bar a warm

glow as well as striking visuals. Signature dishes include homemade

steamed tofu, salmon miso, lobster dumplings and SAKESAN black

cod. There is also a cool bar featuring a top range of sakes, shochus

and awamoris with a superb range of cocktails made with these classic

Japanese ingredients. To compliment this they also offer a selection of

some of the fi nest, most thirst quenching beers to emerge from Japan.

The British Chamber is delighted to announce that the

Member Get Member 2012 campaign is well underway! If

you successfully introduce a company that results in them

becoming a member of the Chamber, you will receive a

fantastic dinner for two courtesy of one of our top member

restaurants in Hong Kong.

Not only that, all referring members will be entered into a

prize draw to win a $2,000 voucher to go towards your holiday

provided by Flight Centre!

MEMBER GETMEMBER 2012

Terms & Conditions

• You must be a member of the British Chamber to be eligible for this offer

• The dining vouchers will only be provided if your referral results in a new member for the Chamber

• This offer is valid for all members whose referral results in a new Corporate, Overseas or Startup member of the Chamber. It

does not apply to Additional members or additional YNetwork members

• The Chamber will allocate the restaurant vouchers. Members will not be able to choose which restaurant they visit and must

adhere to the terms and conditions

The Bostonian, The Langham, Hong Kong

This well-established restaurant has been a Hong Kong favourite

for well over a decade. Located at the lower lobby level of

The Langham, Hong Kong, The Bostonian has an excellent

reputation for its superb steaks, and more recently its fully sustainable seafood menu. Featured

by one of Hong Kong’s infl uential restaurant bibles, “The Hong Kong Best Restaurant Guide”

since 2000 and recommended by The Michelin guide, the Bostonian is a hallmark for impeccable

service and exceptional food. Guests can indulge in a tantalising array of fresh seafood from

around the world at the “Raw Bar”, including home-made smoked salmon, prawns, crabs and

freshly shucked oysters. The enticing menu also includes gourmet favourites such as maine

crab cakes, sautéed foie gras, clam chowder, as well as separate menus for the restaurant’s

specialties – the Boston lobster galore, seafood sharing platters and Bostonian grill.

KITCHEN, W Hong Kong

Kitchen is a modern bistro with a capacity of 200,

reflective of W’s signature stylish and fun design. Upon arrival to KITCHEN, the

mad hatter’s tea party in “Alice in Wonderland” brings guests to a world of fantasy.

Cats play and jump around the stacks of plates, inviting guests to join their games

too. KITCHEN’s modern interpretation of timeless classics and equally innovative

original masterpieces fi ll a menu that’s designed to tantalize and satisfy even the

most discerning gourmands. Guest can indulge in the fun world of kitchen, while relaxing in the pleasant and interactive dining

experience, sampling the delicate cuisine on offer from all over the world.

Lobby Lounge, Conrad Hong Kong

Featu r ing the spectacu la r v iews

of the Hong Kong skyl ine and l ive

entertainment, the Lobby Lounge is the ideal venue for private

meetings or relaxed gatherings with friends. From salad bar to noodle

station, and delectable hot dishes to exquisite desserts, the Southeast

Asian themed supper buffet showcases an impressive range of more

than 50 scrumptious all-time favourites.

So what are you waiting for? Spread the word throughout your network to enjoy

a complimentary meal for two at one of these fantastic member restaurants:

cafe TOO, Island Shangri-La, Hong Kong

The innovative cafe TOO brings casual dining

to a higher level of creativity. Their ten cooking

theatres, each featuring a different culinary style, are

showcases for the best of international cuisine as well as stages for their

chefs' engaging performances.

T

Café Renaissance, Renaissance Harbour View Hotel Hong Kong

Café Renaissance is the perfect place for all day dining. Located on the

Mezzanine fl oor, the 210-seat all-day dining café serves a wide variety

of dishes from all over the world. Café Renaissance serves wholesome

breakfasts, chef crafted lunches and dinner buffets plus à la carte menu daily and brunch

on weekends, in a warm and welcoming atmosphere. In addition to the great array of fresh

seafood delights using the freshest ingredients, guests can also enjoy a tantalizing array of

international favourites and local specialties from live cooking stations.

Britain in Hong Kong 3534

Cleaner Waters for Hong KongHong Kong’s Director for Environmental Protection has announced a new scheme to encourage ocean-going vessels to switch to low sulphur fuel while in Hong Kong waters. Vessels which comply while berthing in Hong Kong will enjoy a 50% reduction in dues for port facilities and lights. The incentive scheme will come into force on 26 September 2012 and will last for 3 years.

Reversal in Regional Luxury Property MarketEmerging South East Asian cities are leading the charge in luxury residential capital value growth across Asia, according to the latest Residential Index from Jones Lang LaSalle. Jakarta and Manila registered double digit increases of 19.2 percent and 10.5 percent respectively in the 12 months to end-Q2. Meanwhile, Hong Kong, Singapore, Shanghai and Beijing have seen annual declines in high-end residential prices of up to 8 percent.

Finance Professionals Staying PutThe latest Movement Survey in Hong Kong from career site network eFinancialCareers has found that 8 in 10 Finance Professionals Choose to Stay in Hong Kong Amidst Global Economic Uncertainty. The survey, exploring the attitudes of 653 Hong Kong-based fi nance professionals towards relocation and working in Hong Kong, revealed that over 8 in 10 (82%) of them have no intention of leaving Hong Kong in 2012.  The city’s stable and well-developed economy, supported by continued growth from mainland China, makes it an ideal market for finance professionals to wait out the downturn. A similar proportion (81%) also said they would recommend Hong Kong as a place to live to other fi nance professionals. 

Increase in ‘global nomads’ weighing on expatriate benefi t provision Mercer’s 2011/2012 Benefits Survey for Expatriates and Internationally Mobile Employees survey has highlighted the challenges companies face as a result of the growing number of ‘global nomad’ employees. While the number of employees on international assignments has remained relatively stable over recent years, the percentage of “global nomads” (employees who move from country to country on multiple assignments) and long-term expatriates has increased by two thirds since 2008/2009, causing challenges for employers when it comes to providing expatriate benefits. One effect this has had is that 53% of companies have seen increases of 6% or more to their international medical plan premium. However, provision of expatriate benefi ts remains a key priority for multinational companies – 85% of survey respondents have specifi c procedures in place to monitor the success of expatriate benefit programmes. Employers are reportedly eager to ensure that their expat benefits programmes not only support business and HR strategies but also meet their assignees’ needs. The survey covers 288 multinational fi rms world-wide which, altogether, employ 119,000 expatriates (up from 94,000 in the 2008/2009 survey).

Garuda Indonesia Awarded ‘World’s Best Regional Airline’ Accolade at the World Airline Awards 2012Garuda Indonesia, the Indonesia national flag carrier has been named “The World’s Best Regional Airline” and the “Best Regional Airline in Asia” at the SkytraxWorld Airline Awards Ceremony held at Farnborough Air Show 2012, London. The awards, presented to Mr. Emirsyah Satar, President & CEO of Garuda Indonesia by Mr. Edward Plaisted, CEO of Skytrax, were given to Garuda based on a global customer satisfaction survey conducted over a 10-month period. The survey, which targeted more than 200 airlines, from global to domestic carriers, interviewed 18 million passengers from 100 different countries via questionnaires, telephone and online portals about their satisfaction across more than 38 key performance indicators of airlines’ service and product.

Survey reveals cautious optimism among businesses in Hong KongAccording to the Grant Thornton International Business Report (IBR) in Hong Kong, businesses are only cautiously optimistic about the economy over the next 12 months. Expectations for employment remain below 2011 levels whilst the availability of a skilled workforce and bureaucracy are both far less of a constraint than in 2011. The survey, targeting over 200 businesses – ranging from medium to large in size with a total employment of between 100 and 499, takes in the views of more than 12,000 business leaders in 40 economies around the world.

Hong Kong business leaders show strong support for greater shareholder involvement and transparency in setting senior executive compensationMore than three-quarters (78%) of business leaders in Hong Kong believe that senior executives at large public companies are paid too much, leading to a call for greater shareholder involvement in establishing remuneration policy for senior executives (80%) and disclosure of the remuneration policy and individual remuneration of executive and non-executive directors (68%), according to the research from the Grant Thornton International Business Report (IBR). These results are in line with the latest amendments by the Stock Exchange of Hong Kong (SEHK) on corporate governance requirements for companies, which should be implemented by stages in January, April, and December 2012.

BDO has recently appointed Gabriel Wong as their new Principal of Specialist Advisory Services. Gabriel is a CPA in Hong Kong and a member of the ACCA, and has in-depth experience advising clients on regulatory investigations, fraud investigations, breach of contract and dispute resolution, anti-bribery and corruption, irregular rebates and kickbacks, misappropriation of assets, financial statement manipulation, employee/management confl icts of interests, review of internal controls, forensic risk reviews and due diligence, compliance, anti-money laundering (AML) compliance reviews, and Foreign Corrupt Practices Act (FCPA) related investigations and reviews.

He also has experience in working in a regulatory authority’s enforcement division performing investigations into complaints regarding fi nancial institutions.

Fern Ngai, Head of Corporate Affairs at Standard Chartered Bank, will join Community Business as its new Chief Executive Offi cer effective 5 October 2012. Community Business, a leading non-profi t organisation based in Hong Kong, works with some of the world’s largest businesses in Corporate Social Responsibility.

Ms Ngai has worked at Standard Chartered for 25 years and has held leadership roles at a local and regional level, previously in the Human Resources, Technology and Operations, and Asia Governance and Strategic Initiatives functions. As part of her Corporate Affairs role, she is responsible for sustainability and she has been the bank’s Diversity and Inclusion champion, a Living with HIV Ambassador and Director of Programme Care, an employee-led community care and volunteering organization. Ms Ngai is also the Chair of the Board of KELY Support Group, a local charity dedicated to supporting young people.

Howse Williams Bowers has expanded its practice areas by adding a Family and Matrimonial Practice Group led by experienced practitioners, Linda Heathfi eld and Karen Lam. Linda joins HWB as a Partner and Karen joins as an Associate with effect from 1st September 2012. These most recent HWB recruits see HWB grow to 70 partners, lawyers and staff, with additional hires to be announced soon.

Linda worked for Richards Butler Hong Kong in the 1980s before qualifying as a solicitor and specialising in family and matrimonial law. Linda has built up a substantial family and matrimonial practice and is regarded as one of the leading lawyers in her fi eld in Hong Kong. Linda is moving to join HWB with her existing team and her practice.

Karen was admitted to practice law in New South Wales, Australia in 2007 and Hong Kong in 2008. Karen’s practice focuses on family law matters with emphasis on matrimonial disputes including divorce and separation, child custody, wardship and fi nancial applications, settlements and injunctions. Karen’s other areas of focus are will drafting, probate and general civil litigation matters. Karen has litigation experience in the High Court, District Court and Family Court in Hong Kong.

New Appointments

News

Co-hosted by Bloomberg,Compass Offi ces and

the British Chamber of Commerce

You’re invited to the fi rst Financial Entrepreneurs Series to be co-hosted by

Bloomberg LP, Compass Offi ces and the British Chamber of Commerce.

Our five-part seminar series will motivate, inspire and inform financial

professionals launching a business in Hong Kong. Themes include: how to

launch and grow a Family Offi ce, Hedge Fund or Private Equity Fund.

Event Schedule  

Seminar 1

Becoming a Financial Entrepreneur:

Launching a Family Offi ce,

Hedge Fund or Private Equity Fund

September 13,

6.00-8.00pm

Seminar 2

Starting a Family Offi ce:

Demystifying Single and

Multi-family Offi ces

September 26,

6.00-8.00pm

Seminar 3Launching a Hedge Fund:

Growing the business beyond Alpha

October 11,

6.00-8.00pm

Seminar 4

Emerging Private Equity Funds:

Identifying Value in Illiquid

Opportunities

October 24,

6.00-8.00pm

Seminar 5

From Headspace to Desk Space:

Managing Operations,

Compliance and Risk

November 1,

6.00-8.00pm

The series features commentary, experiences and lessons learned from

Asia-based thought leaders and industry experts including:

John Dawson: Presenter, Bloomberg Television

Mike McDonough: Chief Economist, Bloomberg Asia

Charlie Luchangco: Convergence Capital

Chuak Chan: COO, Ascalon Capital Managers

Matthias Feldman: Senior Partner, Funds, Clifford Chance

Ying White: Senior Partner, Funds, Clifford Chance

Stuart Somer: Regulatory and Compliance Advisors, Corporate Support

Tony Mitchell: Willis Global Insurance

Darren Bowdern: Senior Partner, Tax, KPMG

Any many more!

Who should attend?

• Financial analysts, traders and portfolio managers with extensive

institutional experience thinking about a career transition

• Those starting, considering launching or joining family office, hedge

fund or private equity fund

• C-level professionals wishing to better understand the business and

operations of managing a fund

Series will be held at Bloomberg offi ce, 27th fl oor, Cheung Kong Centre, 2

Queen’s Road Central, Hong Kong.

We’ll conclude each session with refreshments and the opportunity to

network with panelists and like-minded entrepreneurs. Detailed agenda

and speaker lists for each seminar to follow.

 

For more information please contact mandy@britcham.com

The British Chamber of Commerce is delighted

to announce that CBRE is supporting the SME

Committee’s SMART TIPS FOR SMALL BUSINESSES

series of lunchtime seminars aimed at entrepreneurs

and small business owners in Hong Kong.

The series is co-ordinated by the British Chamber’s

SME Committee, a group of successful entrepreneurs,

business owners and experts who understand the

challenges faced by small businesses every day. The

series aims to provide practical know-how as well as

market analysis tailored to small business needs. The

series is open to members and non-members.

With the support of CBRE, the SME Committee is

looking forward to hosting a fascinating series of

seminars this year.

Baker Tilly Hong KongBusiness Angel Programme

Take your business

to

new heights

If you have a great idea or have started a new business and are looking to grow, the Chamber would like to help.

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

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

The next event will be taking place on Thursday 22nd November and the deadline for applications is Monday 8th October 2012.

If you’re an entrepreneur or SME looking for investment, and would like to fi nd out more about our programme, please visit angel.britcham.com or email emily@britcham.com

Calling all Start Ups!

Sponsored by:

Thank you for your continued support

The British Chamber’s Sterling Members

New Members

YNETWORKBTLaura NewmanAPAC HR Shared ServicesTel 2290 3091laura.2.newman@bt.com38/F Dorset House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong KongTelecommunications

STARTUPHK Maxim RecruitmentSteve ThomasBusiness Development DirectorTel 6906 1262steve@maximrecruitment.com15/F, Wisdom Centre, 37 Hollywood Road, Central, Hong KongRecruitment

DataContent LimitedKeiren HarrisDirectorTel 9409 8392knharris@datacontent.com1F, 71 Tai Lam Liu, Sha Tin, Hong KongConsultancy

Executives’ Global Network (HK) LimitedJohn WongManaging DirectorTel 3656 7737jwo@egn.com1003, 10/F, Worldwide House, 19 Des Voeux Road, Central, Hong KongBusiness Services

Wobbegong Software LimitedSteve SloanDirectorTel 9019 0967steve@wobbesoft.comRoom 13, Units 401-403, Level 4, Cyberport 1, 100 Cyberport Road, Pokfulam, Hong KongComputer / Technology / IT

CORPORATEBerkeley HK LtdIvy ChauHead of Marketing & Business DevelopmentTel 3753 6900ivy.chau@berkeleygroup.hk3202, Edinburgh Tower, The Landmark, Central, Hong KongProperty / Real Estate Services

The International Montessori School - An IMEF SchoolKarin AnnFounderTel 2861 0339info@montessori.edu.hkG/F, Blocks 23-23A, South Horizons, Ap Lei Chau, Hong KongEducation

Debevoise & Plimpton LLPThomas BrittPartnerTel 2160 9800tmbritt@debevoise.com13/F, Entertainment Building, 30 Queen’s Road Central, Hong KongLegal

ADDITIONALDairy Farm Company LtdJoshua ChetwodeFinance Director, North AsiaTel 2299 1531jlkc@dairy-farm.com.hk7th Floor, Devon House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong KongRetail / Wholesale / Sourcing

Harvey Nash (Hong Kong) Ltd.Alexandra PlowmanResearcherTel 2251 8404alexandra.plowman@harveynash.hkLevel 19, 2 IFC, Central, Hong KongExecutive Search

Berkeley HK LtdPaul BennettInternational Business Development DirectorTel 3753 6902paul.bennett@berkeleygroup.hk3202, Edinburgh Tower, The Landmark, Central, Hong KongProperty / Real Estate Services

PRC/MACAUChinasavvy HK LtdChristopher DevereuxManaging DirectorTel 86 20 8388 7080cpd@chinasavvy.com400 Wuzi Building, Beijiaochang, Henglu 12, Guangzhou, 510050,ChinaRetail / Wholesale / Sourcing

INDIVIDUALPhilip SanchezTel 6334 4690feast@fl yfi shing.tv9-10, 27/F, Seapower Tower, Concordia Plaza, 1 Science Museum Road, TST, Hong Kong

We Collect and deliver your carFREE OF CHARGE

(subject to distance)We provide good, quick repair service at

reasonable prices

ALL REPAIRS WITH THREE MONTHS GUARANTEE

Our Business Hours8am-6pm, Mon-Sat & Public Holiday

Our 24hrs. Emergency Towing Agent“Firstone Towing Services” 8203 3411

Please call us at 2565 6166 or Fax: 2856 1047E-mail Address: fookie@netvigator.com

Our competitive Labour charges: From

Lubrication Service $ 110

Tune Up Engine $ 220

Engine Decoke & Grind Valves $ 1,500

Engine Overhaul $ 4,000

Brake System Overhaul $ 900

Clutch Mechanical Overhaul $ 1,000

Air Condition Freon Recharge $ 400

Alternator Overhaul $ 400

Starter Motor Overhaul $ 400

FOOKIE MOTORS CO. LTD.Shop 7, G/F, Paramount Bldg.,12 Ka Yip Street, Chai Wan, Hong Kong.

Shaken Not StirredSponsored By

26th July 2012, The Dog House, Wan Chai

Kit Ping Au-Yeung (Coats North-East Asia), Jessica Schubert (Compass Offi ces), Jon Walsh (Regus)

Gary Tennant (TGP landscape Asia Ltd.), Ben Yates (Howse Williams Bowers), Gary Bukowicki (G4S Security Systems (Hong Kong) Ltd.), Gary Peter Hayward (Real Ale Management Consultant)

Graham Ackroyd (en world), Liz Hamerton (Secretarial Offi ce Services)

David Smyth (Clyde and Co), Malcolm Pratt (UniGroup Worldwide)

Abi Tannis (TTP Consulting), Beck Federici (Pentland Asia), Natalie Clark (Pentland Asia)

Hugh McKellar (Regus), David Dodwell (Strategic Access), Rachel Tennant (TGP Landscape Architects)

Will Sweeney (Concise Media); Emily Ferrary, Lucy Jenkins and Phillippa Cook (British Chamber of Commerce in Hong Kong); Leigh Mackeurtan (Concise Group)

Matthew Curtis (The Fry Group), Monica Dunner

Christopher Hammerbeck (British Chamber of Commerce in Hong Kong)

Ji Liu (Norton Rose), Divya Vaze (Prima Group Ltd.)

Simon Stevens (Financial Partners), Glen Farmer (Regal Hotels International), Jean-Yves Toulec (Hampton, Winter and Glynn)

Janette Kung (The Executive Centre), Michael Wong (Oxford University Press), Andrea Demy (AGS Four Winds)

Katherine Ong (Living Group), Melanie Osborne (Living Group), Jason White (Financial Partners)

Britain in Hong Kong 3938