DEC 2013 – FEB 2014 WM RM8.00 | EM RM10.00

Dato’ Adissadikin Ali, CEO of EXIM Bank Malaysia

Europe is an important market for Malaysia

EUMCCI’s 10th

anniversary celebrationA night of music, wine and food

Upcycling: fashion goes greenInterview with Taru Aalto, COO of Globe Hope

Angels in KLEBAN’s angel investing workshop

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ISSN:2289-3628 K

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All writers automatically agree to indemnify EUMCCI and MPH Group Magazine (M) Sdn Bhd against any loss, costs, expenses (including legal fees), damages and liabilities that might arise from their own incapacity, negligence, breach of contract or other civil misdeeds. We reserve the right to edit all articles. All rights reserved. Copyright © 2013/2014 by EUMCCI and MPH Group Magazine (M) Sdn Bhd. No part of this publication may be reproduced in any form without prior written permission from the publisher. The views expressed in the articles are those of the authors and do not necessarily reflect the views of EUMCCI and MPH Group Magazine (M) Sdn Bhd. EUMCCI

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Editorial CommiteeMinna Saneri - EditorStefanie Braukmann

Zaiton Hj Idrus

EUMCCI BoardChairman

Fermin Fautsch

Deputy ChairmanProf Dr. Geoffrey Williams

Honourary TreasurerDato’ Robert Teo

MPH GroupChief Executive Offi cer

Dato’ Ng Tieh Chuan

MPH Group MagazineChief Operating Offi cer

Swaminathan MV

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EditorSharmila Valli Narayanan

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Werner Somweber

Board of Directors/Representatives

An end and a beginning

The last few months of 2013 were packed with activities for EUMCCI. Representatives from EBAN, The European Trade Association for Business Angels, Seed Funds and other

Early Stage Market Players, visited Kuala Lumpur at the invitation of EUMCCI and the British High Commission Kuala Lumpur. EBAN held an angel workshop and signed an MOU with MBAN (Malaysian Business Angel Network). Find out more about this on page 28.

At IGEM 2013, it was a bigger and better exhibition this year. The EU Pavilion was kept busy with a steady throng of visitors. We also had interesting activities lined up at the pavilion. Read all about it on page 20.

EUMCCI was honoured when the organisers of the Global Entrepreneurship Summit (GES) 2013 asked us to propose some names as speakers for the summit’s breakout sessions. One of the speakers we proposed was Ms Taru Aalto, the COO of Globe Hope. She was one of the four speakers at the Innovative Business Models panel discussion. Read the inspiring story of Globe Hope starting on page 24.

Our cover story focuses on EXIM Bank and how its Managing Director and CEO Dato’ Adisaddikin Ali is bringing changes to the bank in terms of its perception, customer base and visibility in the media. The cover story starts on page 4.

2013 was the year EUMCCI celebrated its 10th anniversary. The celebration culminated in the Sounds of Europe, an evening of European wine, food and music. The event was a resounding success. We are still hearing from people on how much they enjoyed the evening. For those who missed it, turn to page 10 to read all about it and enjoy the pictures.

As one of the most active business chambers, you can be assured that EUMCCI’s calendar 2014 will be filled with many interesting functions and events. Our very popular VIP Luncheons will be back with interesting guests. Other events to look forward to are our Breakfast Talk, workshops and many other events. We will keep you posted on our activities via our website www.eumcci.com.

In the meantime, enjoy the magazine!

E D I T O R ’ S N O T E

Minna SaneriMinna SaneriEditor

CONTENTS3

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24

27

28

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33

36

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Editor’s Notes

Cover Story: EXIM Bank Steps Up Its Game

The Sounds of Europe

EU Country in Focus: United Kingdom

IGEM 2013

A New Hope in The Fashion World

Europe Round-Up

Angels in Kuala Lumpur

Chamber News

Corporate Partner News

New Corporate Partners

Calendar of Events

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24

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4 EUMCCI REVIEW

COVER STORY

Not many Malaysians are aware of the existence of EXIM Bank because of its low profi le. All that has changed since Dato’ Adissadikin Ali came on board as Managing Director and CEO in 2010. He talks to Sharmila Valli Narayanan about the role of EXIM Bank, the challenges he faced when he came on board and the importance of Europe to Malaysia as a trading partner.

EXIM BANK OF MALAYSIA STEPS UP ITS GAME

Photography by V. Chanthiran

5EUMCCI REVIEW

If the name EXIM (Export-Import) Bank of Malaysia Berhad does not sound familiar, don’t worry. When

Dato’ Adissadikin Ali was summoned by the Ministry of Finance in 2008 and told to go over to EXIM as its Chief Operating Offi cer and with the then CEO, to help turn the bank around and take it to a higher level, Adissadikin too, was not very familiar with the bank. And he was a commercial banker! That’s why he is never offended when people ask him straight to his face, “There’s an EXIM Bank? What kind of bank is it?”

Adissadikin began his career as a management trainee. His fi rst exposure to

banking happened when he joined Danaharta in 1999. In 2005 he joined Bank Islam Malaysia Berhad. It was Adissadikin’s sterling performance during his stint at this bank where, as part of the new management, he helped turn around the ailing bank, that brought him to the attention of the higher ups in the Government. Hence, the offer from the Minister of Finance. Adissadikin, who describes himself as someone who likes to continually challenge himself, accepted the offer. Within two years of joining EXIM Bank, Adissadikin was made the CEO after the former CEO left.

EXIM Bank was incorporated in 1995 and is 100 per cent owned by the Government. Its role is “to provide credit facilities to fi nance and support exports and imports of goods, services and overseas projects as well as the provisions of the export credit and political risk insurance and fi nancial guarantee facilities with emphasis on non-traditional market.”

EUMCCI REVIEW (ER): Why is there a need for a bank like EXIM Bank? Adissadikin Ali (AA): Commercial banks play a very important part in driving businesses, but they are profi t driven. They are very choosy about whom they will extend credit to. In most cases, they prefer giving loans to businesses they deem safe. Smaller businesses like SMEs with no collateral or no proper records of keeping accounts will fi nd it almost impossible to get credit. How are they to start a business or expand their business? This is where development fi nancial institutions (DFIs) like EXIM Bank come in. We extend credit to businesses such as these that are often considered as “risky ventures” by commercial banks.

Every country that is involved in trade has its own equivalent of an EXIM bank. Even economic superpowers have their own EXIM banks. There’s an EXIM bank in the US (known as EX-IM Bank), Korea, China, the United Kingdom and so on. This shows the important role played by these DFIs in their respective countries. Of all the DFIs in Malaysia, we are the only one that has been mandated to do cross border transactions. So, to answer your question, a bank like ours is very much relevant to Malaysia.

ER: What were some of the challenges that you faced when you fi rst came aboard EXIM Bank in 2008? AA: When I fi rst joined this organisation,

some of my friends from the banking industry said I was on a suicidal mission. At that time the non performing loan (NPL) of the bank stood at over 50 per cent! It was a nightmare situation. My team and I got down to the business of transforming the bank. We knew we needed to do a lot of repairs. I believe that in any organisation, you need to do four things: I call it the 3Ps and 1T. The fi rst P is process. We needed to design a process that is effi cient, effective and recent and which is in line with industry standards. In other words, we needed to incorporate the best practices in the industry.

Once you have designed the process, you need to set down the proper procedures because unless and until you have a standard SOP you cannot get your people to be effective. The fi nal P is people, which is the most important element of all. You need people who are competent, disciplined and self-driven. The last is crucial because as a leader you cannot be telling others what to do all the time. It will tire you out. The ‘T’ is for technology. Technology is to facilitate things and to make things easier.

Another major problem we faced was our high NPL. How did it get to this level? We found out that the bank was giving loans to people who were not qualifi ed to get the loans.

Now we have more stringent checks to see whether the company has the capability of delivering what it has promised. Such measures did make me unpopular among some circles, but it did not bother me because I was driven by my conscience. We are dealing with tax payer’s money. If the money is lost via bad loans, it erodes the capital of the bank. At the same time, it is depriving

“Every country that is involved in trade has its own equivalent

of an EXIM bank. Even economic

superpowers have their own

EXIM banks.”

6 EUMCCI REVIEW

the next deserving business of getting the much needed funds.

These tougher measures have brought results. Our NPL is now below 10 per cent. The NPL among new loans given out after the restructuring is below two per cent. This is proof we are doing the right thing.

ER: There has been more press coverage about EXIM Bank since you have been at the helm. The bank is more visible to the public now. Was this a deliberate move? AA: I felt the awareness about EXIM Bank needs to be heightened. We are here

for a reason – to serve Malaysian companies that aspire to go abroad. We know who our customers are but we never reached out to them. That is why I have been working with my team to have a constant plan of heightening the awareness of our bank. We are doing targeted marketing in terms of our PR, communication and advertising.

Some members of my team have asked me why are we not advertising on television and print media? I said no because our target are businessmen. So there is no need to splash out in terms of advertisements in the mainstream media. We have a two prong strategy in terms of increasing our visibility. Firstly, we advertise through media that targets SMEs and business readers and we work with organisations that deal with SMEs. We have been selective about which platform we want to latch on to. We have sponsored some high profi le events such as The Star Business Awards (SOBA). We also directly approach the Government linked companies (GLCs) and top-tier Malaysian companies with overseas business ventures to tell them who we are and what we do. Initially when we fi rst approached them, some did not even know who we are. Instead of feeling discouraged, I took it as a challenge. It showed our shortcomings and

made me determined that it was necessary for us to be more visible. Your comment about us being more visible now shows that our communication strategy is working. One of our success stories is that now we have a lot of GLCs and top-tier Malaysian corporates as our customers, besides SMEs.

ER: How do you see the world economic situation for 2014? AA: We live in a constantly changing fast paced world. It will get tougher every day. The world is globalised, so whatever that happens in Europe, the US or China affects us. It is hard to accept changes but changes also bring opportunities. Instead of focusing on whether the world trade will increase or decline, I think it is more important to focus on being more competitive. The old rules of economic theories don’t seem to be very effective anymore. The only way to survive is for companies and organisations to be adaptable. Sticking to the traditional fi ve year plans have become somewhat irrelevant. I am not saying these fi ve year plans have no signifi cance at all; they are important for setting the direction of a company. But it’s vital for the companies to keep track of changes that are happening in their industry and most importantly to adapt to the changes and to continuously innovate. Your company

“The NPL among new loans given out after the restructuring is below two per cent. This is proof we are doing the right thing.”

COVER STORY

7EUMCCI REVIEW

has a good product? Great! But fi nd ways to make it better now and not wait for a few years before making changes. Businesses can’t stick to sentiment.

ER: How important is trade with Europe for Malaysia? AA: When we talk about exploring non-traditional markets, on the face of it, Europe does not fi t this bill because it has been an old trading partner. But I would like to clarify that traditional or non-traditional markets do not only refer to a country or region but to industries, as well.

Europe has always been an important market for Malaysia. Before the transformation of the bank in 2008, EXIM Bank’s exposure to Europe was negligible and limited very much to the traditional trade financing related business involving commodities and manufactured goods such as electrical and electronics etc. Of late there have been lots of exposure in other industries. We have been doing property related fi nancing in Europe especially in the United Kingdom in hotels and education. In August 2013 we helped support a local university college to buy the former Middlesex University Trent Park campus. Malaysian companies are moving into new areas of business in Europe – hospitality, education and IT (especially the software and content segment) to name a few. When these Malaysian companies need fi nancing, we are there for them. We are still supporting the normal trade fi nancing for our traditional exports like commodities. We have strategic tie-ups with several Exim equivalent banks in Europe. So, trade with Europe is looking good.

ER: How has EUMCCI been helpful for EXIM Bank? AA: We have tied up with lots of chambers of commerce here in Malaysia. EUMCCI is one of the most important chambers of commerce as it represents the whole of the EU, so of course it is an important platform for us to create awareness about what we

“The only way to survive is for companies and

organisations to be adaptable.”

“We are here for a reason – to serve Malaysian companies that aspire to go abroad.”

do. We want to ensure that if there are any Malaysian SMEs that want to do business there, we will be there to assist them. What many people don’t realise is that we have footprints in 77 countries! We are supporting companies that are doing business in Syria, Bosnia and CIS countries.

ER: What impact would the ASEAN Economic Community (AEC) which is set to become a reality in 2015 have on EXIM Bank? AA: We see AEC as a good opportunity. There will be freer movements of goods, services and capital. There will be more competition, which is good because it will encourage Malaysian companies to be more

competitive. Many Malaysian companies will go out to do business because there will be lesser barriers with better access to credit. At the moment we are supporting about 150 companies and a bulk of them, almost 60 per cent of these companies are doing business in ASEAN. EU

8 EUMCCI REVIEW

FACILITIES OFFERED BY EXIM BANKEXIM Bank is the only development fi nancial institution (DFI) that is mandated to do cross border transactions. Here are the facilities offered by EXIM Bank.

COVER STORY

Conventional banking facilities Buyer creditBuyer credit enables Malaysian exporters and contractors a chance to bid for overseas contracts and tenders. This credit will be given directly to the foreign buyers or fi nance institutions to make it more convenient for Malaysian goods and services importers. Loan disbursements will be made directly to the local exporter or contractor.

Project/contract/investmentThis facility is available to locally owned and controlled companies, as well as Malaysian joint venture companies abroad who bid and carry out projects/contracts or investments in another country. The facility provides fi nancial support to Malaysian investors/contractors undertaking projects overseas such as infrastructure, manufacturing and other development projects.

Bank guaranteeIs made available to facilitate the issuance of bonds or surety for overseas contracts (i.e advance payment bonds and performance bonds) undertaken by Malaysian contractors. This allows the contractors to raise funds overseas.

Supplier creditMalaysian manufacturers, exporters and suppliers of locally manufactured goods, can take advantage of this facility to support their export trade fi nancing requirements through EXIM Bank’s trade fi nancing facility. The facility offers Pre-Shipment and Post-Shipment Financing. The former fi nances working capital for production of goods, while the latter fi nances the export bill after shipment has been made.

Export of servicesThe Export of Services facilities can be used by Malaysian owned and controlled companies engaged in the provision of services for the global market such as information technology services, construct ion, telecommunicat ion, management or other technical professional services.

Export credit refi nancing (ECR)This scheme provides an alternative short term pre and post shipment financing to direct/indirect exporters to promote the export of manufactured products, agricultural products and primary commodities. It is available at a competitive interest rate to a manufacturer or trading company with ECR credit line duly established with any participating commercial bank.

Credit insurance facilities Exporter trade credit insurance (Export)It is an insurance policy that acts as an “umbrella” protection for exporters who make regular exports to overseas importers from losses incurred due to buyers’ failure to make payment.

Bank letter of credit policy (BLCP)BLCP will assist in securing payments of the Irrevocable Letter of Credit (ILC) to your bank. It covers participating banks that negotiate ILC issued by foreign banks against the foreign issuing bank’s failure to reimburse payment to the benefi ciaries (i. e. Malaysian exporters) under the ILC.

Specifi c PolicyIt is a form of credit insurance that insures Malaysian exporters who undertake

contracts for exports of capital goods, turnkey project, construction works or rendering services abroad, against the risk of non-payment by the overseas buyer. Minimum credit is from one to 10 years.

Overseas investment insurance (political risk insurance)This is a policy to cover the risk of non-commercial losses or business established abroad by Malaysian companies. The risks include restrictions, transfer, war, civil disturbance and a breach of contract, as well as the right of ownership.

Islamic BankingEXIM Bank follows the Shariah concept in Islamic banking• Overseas project/contract fi nancing-i• Buyer fi nancing-i• Malaysia Kitchen Financing-i• Term fi nancing-i• Supplier fi nancing-i• Import fi nancing-i• Export credit refi nancing-i (ECR-i) • Bank guarantee-i• Letter of credit-i• Forward credit exchange-i• Trust receipt-i• Export services-i

10 EUMCCI REVIEW

The Sounds of Europe

It was a splendid way to end the year-long celebration of the 10th anniversary of EUMCCI. Instead of having a dinner

in a hotel, EUMCCI decided to do something different. It organised a night of great wine, cocktails, music and dinner at KLPac. The choice of KLPac as a venue was a great hit among the guests. For many of them this was the fi rst time they had ever set foot at the venue. Even many KLites confessed they had never been to this place before. KLPac was an eye opener for them as they loved its beautiful location and its excellent facilities as a performing centre.

The guests went upstairs where they were treated to a selection of fi ne wines and cocktails. Later they were ushered into the theatre for the main event: the performance by the KLPac Symphonic Band.

Sounds of Europe, the defi nitive social event in EUMCCI’s calendar for 2013, was a huge success. The guests were enthralled with the location, the food and the music.

Photography by V. Chanthiran

Sounds of Europe

Date: Thursday, 7th Nov 13Venue: Kuala Lumpur Performing Arts Centre (KLPac), Sentul WestPartners: Volkswagen, Standard Chartered (anchor sponsors); Bayer, Epsom, Downtown (corporate sponsors); SPRG (communication partner) and Qatar Airways, Siemens & Talent Corp (platinum partners).

Before the concert started, there were a few speeches. Mr. Fermin Fautsch, the chairman of EUMCCI, gave a short welcoming speech that outlined the brief history of EUMCCI. He also said he was happy to see more Malaysian companies joining EUMCCI.

H.E Luc Vandebon, the Head of Delegation of the EU in his speech remarked that music and wine were a great way to mark the 10th

anniversary celebrations of EUMCCI. He also stressed on the importance of the relationship between Malaysia and the EU.

Dr. Zeno Kerschbaumer, the CEO of Volkswagen Group Malaysia and Mr. Saif Malik, Managing Director of Origination & Client Coverage, Standard Chartered Bank Malaysia Bhd, as anchor sponsors

FEATURE

11EUMCCI REVIEW

for the event, also gave brief speeches that touched on their respective companies and their close association with EUMCCI.

Finally it was the moment everyone was waiting for: the performance by KLPac Symphony Band. The band gave a spirited performance of popular music from various composers in Europe. The band’s performance was greatly appreciated by the guests who gave the members of the band a standing ovation. Many of the guests later said they had no idea that there was such a band in KL and were amazed at the talents of the musicians.

After the concert, the guests went downstairs to the restaurant for a lovely buffet catered by JW Marriott. What a Splendid Night. EU

Karina Katzer and Rafal SzczepkowskiMr and Mrs Ravindra Kumar

Girija Menon, Nalini Nambiar and Hilda Alposilva

Minna Saneri and Thomas Brandt

Fermin Fautsch, H. E Luc Vandebon and Dr Zeno Kerschbaumer Minna Saneri, Fermin Fautsch and H. E Luc Vandebon

Jacqueline and Brian Cracknell

Alessandro Paolicchi and Camille de Potter

Luis and Begeona Ochoa and Miguel Ballesteros Lopez

12 EUMCCI REVIEW

WHAT THE GUESTS SAID:

“The performance was great. I was tired and I did not know whether I would last through the night. The performance has rejuvenated me. It was absolutely beautiful the way the orchestra played together.” – Thomas Brandt

“I have not seen a performance by an orchestra consisting of only wind and brass instruments. The performance was beautiful. I would never have known about the KLPac Symphonic Band if not for this event. Thank you EUMCCI for organising this event.” – Dorothea Winkelmayer

“My wife and I often go to the Petronas Philharmonic Concert Hall to listen to the Malaysian Philharmonic Orchestra. We had no idea that KLPac had a symphonic band. It was a very good performance and we enjoyed it tremendously. We are amazed to find so many musical talents in Malaysia.” – David Brailsford

“What a wonderful evening! We enjoyed it. A night of beautiful music and a lovely gathering of people. We met many of our friends here tonight. It feels like a mini gathering of Europeansin Malaysia.” - H.E Zeljko Bosnjak, Ambassador of Croatia

“I have stayed in KL all my life and I have never visited this place before. Thank you EUMCCI for choosing this venue for the event. This place is a revelation. The band was amazing with so many young local talents in it.” – Ravindra Kumar

H.E. Luc Vandebon, Ambassador and Head of the Delegation of EU to Malaysia and Madam Marie Vandebon

H.E. Zeljko Bosnjak, Ambassador of Croatia and Madam Nina Bosnjak

H.E Maria Bassols, Ambassador of Spain

FEATURE

13EUMCCI REVIEW

“I absolutely loved the p e r f o r m a n c e . W h a t a n enjoyable way to spendthe evening.” – Huey Yee Yoong

“As a Malaysian I was so proud to see the young Malaysian musicians playing with such high standards. I love this venue. There is ample parking space.” – Rosman Hamzah

“ W h a t a w o n d e r f u l performance! I had a very good t ime mee t ing upwith friends.” – Mrs Komala Ravindra Kumar

“It has been a fabulous evening with music, food and wine. The choice of the venue is amazing. I really had agood time.” – Amanda Woo

Saif Malik

David and Kathleen Brailsford

Yam Zentko, Miltos Denediotis and Walter Heteendorfer

Johanna Suhrcke and Hazwan Hashim Luis Lopez and Andrin Raj

Dr Maxim Mamin and Mrs Katja Mamin

Teej Hay Valerio, William Ng, Daniel Loo and Caroline Ang

14 EUMCCI REVIEW

Jose Baranano, Minna Saneri, Anna Garcia Baranano and Maria Joao Liew

Odd Eric Have, Mette Enger, Niki Malik, Faith Tang Pui See and David Lee

Mohd Azrin and Shireen AuziDatin Ivy Low and Dato’ Michael WongBirgit Schlager and Dorothea Winkelmayer

FEATURE

15EUMCCI REVIEW

KLPac Symphonic Band

KLPac Symphonic Band takes a bow after a splendid performance

16 EUMCCI REVIEW

His Excellency Simon Featherstone, British High Commissioner to Malaysia

Education is described as the single most important area in terms of volume of business. It is a sector with tremendous opportunity for growth. “The Malaysian government has committed about £50 billion pounds into education until 2017. UK education is seen as a leading provider of the sort of goods and services that the Malaysian government is looking for,” he says.

Both countries have made their presence felt in each other’s countries in education. Currently six UK universities have either opened or are in the process of opening campuses in Malaysia. In addition to this, there are more than 80 UK educational institutions with a presence in Malaysia.

In the last few years, Malaysian educational institutions have also begun making their presence felt in the UK. Limkokwing University of Creative Technology (LUCT) became the fi rst Asian and Commonwealth country to set up a university in the UK and to deliver its degrees in that country. Late last year, Allianze University College of Medical Sciences, acquired property in the UK with a view of starting a new branch campus.

The UK has traditionally been one of the favourite destinations for education among Malaysians. But in the last three decades, the UK has faced stiff competition from other countries such as Australia and the United States. How does the UK continue to maintain its attractiveness as an education destination for Malaysians? “A combination of value and quality means that the UK still remains the favourite destination for education among Malaysians. This proves that Malaysians prefer the UK’s education system over other countries,” says Featherstone.

The UK educational institutions are beginning to invest in Malaysia as well. Epsom College, a well known boarding school in England with a history of nearly 160 years, will open its fi rst overseas branch in Bandar Enstek, Nilai, in 2014. Another famous British school, Malborough College (the Duchess of Cambridge attended it together with her sister Pippa) has opened a branch in Iskandar, Johor.

Featherstone is confi dent that this trend will continue. “Malaysia is attractive to the UK because of three things: our long-term historical ties; the demand for British education by Malaysians themselves and because of the position of Malaysia as an educational hub for ASEAN. We don’t

Educational ties between the UK and Malaysia

United Kingdom (UK) is one of Malaysia’s oldest trading partners, thanks to the historical ties between

the two countries. Trade between the two countries is healthy and is expected to grow in coming years.

“The fi gures for 2012 indicate that goods and services exports to Malaysia totalled £2.4 billion with the biggest exports coming from electronics, machinery, food and beverages and road vehicles,” explains H.E Simon Featherstone, the British High Commissioner to Malaysia. “The biggest British imports from Malaysia were from the electronics and machinery, rubber and plastics sectors with a total of £2 billion in trade.”

Investments from the UK have also been growing strongly, adds Featherstone. “We’ve recently seen Dyson and BT Group double their footprint in Malaysia. During the 9th World Islamic Economic Forum in London in 2013, both Prime Ministers announced a £70 million investment by the engineering fi rm Weir Group in Malaysia.”

2013 marks 40 years since the United Kingdom joined the EU (known then as the European Economic Community). Although the EU has become a very important trading partner in the UK, it has not neglected trade with other parts of the world especially its former colonies that form the Commonwealth. “Trading with the Commonwealth is not an alternative to trading with the EU: we need both,” explains Featherstone. “The Commonwealth exports over USD 3 trillion [£1.6 trillion] worth of goods and services a year. Intra-Commonwealth trade in goods is valued at around £250 billion a year. It is a ready-made network which includes some of the world’s fastest growing economies. Investment growth in Commonwealth countries has consistently outperformed the global average since the fi nancial crisis in 2008. It is an expanding market that provides a solid foundation for development and should not be overlooked.”

EU COUNTRY FOCUS:UNITED KINGDOM

17EUMCCI REVIEW

United Kingdom’s contribution to the worldDespite its small size, the United Kingdom has played an important role in shaping today’s world. To list the country’s many contributions would be too long. Here are just some of its major contributions.

LanguageEnglish, the third most widely spoken language (after Mandarin and Spanish), and the offi cial language of science, aviation and computing, among others, is one of United Kingdom’s most enduring gift to the world.

Industrial revolutionThe industrial revolution has been described by economic historians as “the most important event in the history of humanity since the domestication of animals and plants.” It started off in the United Kingdom, specifi cally in England.

EducationSome of the world’s most renowned universities such as Oxford, Cambridge and the London School of Economics are in the United Kingdom. The country also remains one of the favourite education hubs of the world. According to Wikipedia, 115 people from the United Kingdom have won the Nobel Prize.

InventionsThe locomotive, steam engine, gas turbine, jet engine, World Wide Web and television to name a few, are some of the inventions that changed the world that came from this country.

LiteratureUnited Kingdom’s contribution in this fi eld is enormous. Some of the most infl uential and famous writers in the world are from the UK such as Shakespeare, Milton, Jane Austen, Charles Dickens, the Bronte sisters, John Keats, Lord Byron, Alexander Pope, Jonathan Swift. T.S Elliot, George Bernard Shaw.... the list goes on.

Popular culture: United Kingdom has left an indelible mark on popular culture via music (The Beatles, The Rolling Stone, Pink Floyd etc), books (Agatha Christie and her crime novels, Sherlock Holmes, a character invented by Arthur Conan Doyle, the Harry Potter series by J.K. Rowling), fashion (Burberry, Vivienne Westwood), movies (Lawrence of Arabia, Trainspotting, Billy Elliot, Four Weddings and A Funeral, The Harry Potter fi lms) etc.

: United Kingdom of Great Britain and Northern Ireland: London: 243, 610 km²: 63,181, 775: English: Scots, Ulster-Scots, Welsh, Cornish, Irish, Scottish Gaelic: Pound sterling (GDP): Unitary state, parliamentary democracy under constitutional monarchy: Queen Elizabeth II: David Cameron: There are two houses: Upper House (House of Lords) and Lower House (House of Commons)

United Kingdom at a glance:Offi cial nameCapital and largest cityTotal areaPopulation (2011 census)Offi cial languageRecognised regional languagesCurrencyGovernment

MonarchPrime MinisterParliament

see this trend slowing down. Apart from higher education, we see particular growth opportunities in the area of vocational and skills training.”

Oil and gas is another sector where trade between the two countries could be further enhanced. “The UK has developed strong capabilities in this area and there is a big opportunity for joint work between both countries not only in Malaysia but also in other countries,” says Featherstone.

The retail sector is also a sector for growth for both countries. Malaysia has the aim of doubling its retail sector by 2020 while

UK retailers are moving to Malaysia in considerable numbers. “We’ve recently seen no fewer than four store openings in Malaysia, including Hamleys and Debenhams with many more in the pipeline. This is a big area of opportunity for both our countries,” Featherstone points out.

“Islamic fi nance is another area that has huge potential for growth. The UK has agreed to issue a sovereign Sukuk and that will lead to opportunities globally in terms of partnership in Islamic fi nance. Besides that, the liberalisation of a number of services such as legal, architecture and engineering would greatly enhance trade opportunities between the countries,” he adds. EU

Oil & gas and retail

18 EUMCCI REVIEW

Healthcare sector is set to boom in Selangor as it is the most populous state serving the highest population density

in the heart of Malaysia, estimated 5.6 million people. Its proximity to two Federal Territories of Kuala Lumpur (population 1.7 million) and Putrajaya (0.1 million), makes it a sought after destination for both medical tourists and locals alike.

The rapid expansion of private hospitals in the state and the need for modernisation of equipment in public hospitals will see an increased demand for sophisticated medical equipment from abroad.

Table 1 (right) indicates recently announced projects as well as some newly opened private hospitals.

Europe with its long tradition of innovation in medical devices is well placed to take advantage of this demand. Some of the top European medical device manufacturers like Siemens Healthcare are already operating in

Selangor. With medical tourism set to take off to greater heights and with many private hospitals investing in sophisticated medical equipment, there is an opportunity for medical device manufacturers from Europe to invest in Selangor.

Malaysia has been promoting medical tourism since 2005. Malaysian Healthcare Travel Council (MHTC) is tasked with the promotion and marketing of healthcare services in Malaysia to foreigners. MHTC currently promotes 71 private panel health

tourism hospitals out of which 20 are located in Selangor and 22 in Kuala Lumpur. Several international hospital operators from Korea as well as other Asian countries have expressed interest to expand into Selangor.

Despite the boom in private healthcare, public hospitals are still the providers of healthcare for the majority of Malaysians. The number of public hospitals and clinics is signifi cant enough to create a huge market for foreign and domestic medical equipment suppliers. European companies are urged

The rapid expansion of healthcare in Selangor offers exciting investment opportunities for European companies.

INVESTMENT OPPORTUNITIES IN HEALTHCARE IN SELANGOR

Table 1

Operator Project Beds Operational

KPJ Healthcare

KPJ Bandar Baru Klang Specialist Hospital 200 beds 2012

KPJ Klang Bayuemas Specialists 60 beds 2015

Sime Darby Healthcare SDMC Ara Damansara 220 beds 2012

Columbia Asia Columbia Asia Hospital Petaling Jaya 90+ beds 2014

19EUMCCI REVIEW

not to ignore the public healthcare sector as well.

Even locally produced medical devices would still need some help from European technology to make them more competitive in the global market. Two globally leading rubber glove manufacturers, Top Glove and Hartalega Holdings, are located in Selangor. Top Glove is said to command 25 per cent of the global market share in rubber gloves. It plans to increase its share to 30 per cent in the next few years by increasing its productivity while at the same time reducing its dependency on manpower. This has become an important issue due to a recently introduced minimum wage policy in Malaysia. Top Glove has shown great interest in European process technology and machinery to reduce the dependency on manpower. As the company seeks to replace rubber gloves made from natural rubber with that made from synthetic rubber, it will require new equipment and machinery. Once again European companies should explore investment avenues in this area.

Hartalega Holdings is also expanding its operations. It announced a new and fully integrated high-tech factory, which includes a 58 MW-Biomass power plant, research and

recreational facilities on 100 acres of land. This project valued at nearly RM2 billion will certainly be located in Selangor. This new facility aims to achieve an output of 28.5 billion units per annum and will require lots of automation technology from abroad. This means lots of opportunities for European companies to market their high tech automated machines.

Another sector ripe for European investment is the pharmaceuticals sector. Malaysia has a healthy domestic market for pharmaceutical products, but the bulk of sophisticated and innovative pharmaceuticals still has to be

Top Pharmaceutical Firms in Malaysia

Position Company Market Share (%) Growth (%)

1 Merck, Sharp & Dohme 8.5 14.0

2 Pfi zer PH 7.7 5.1

3 GlaxoSmithKline PH 6.6 -11.6

4 Sanofi -Aventis 5.2 8.4

5 Novartis 4.7 12.6

6 Roche Pharma 4.7 5.1

7 AstraZeneca 4.1 5.0

8 Pharmaniaga 3.1 2.8

9 Abbott Pharma 3.1 13.2

10 Janssen Cilag 2.4 1.7

11 Idaman Pharma 2.1 12.4

12 Boehringer Ingelheim 2.1 13.4

imported from the developed world. Some of the leading European pharmaceutical companies operate in Malaysia.

Sanofi -Aventis and Boehringer Ingelheim are already operating in Malaysia but they unfortunately do not produce products here. European pharmaceutical companies should seriously consider making Malaysia a manufacturing base for ASEAN as the country offers an excellent legal framework and a high standard protection of intellectual property rights. Accordingly, registering devices or pharmaceuticals in Malaysia also open doors within other members of ASEAN. This matter will become even more signifi cant with the coming ASEAN Economic Community (AEC), which integrates the region’s economy in 2015. Selangor can be used as a springboard to tap into the market of ASEAN, which is about 600 million.

Selangor with its excellent infrastructure – be it highways, port or airport – is the heart of the healthcare industry and the manufacturing sector in the country. It is the ideal place for pharmaceutical companies to invest. Selangor also has the ability to supply the demand for high skilled workers required by this industry as it is the home to 100 institutions of higher learning. Even though northern Malaysia is also home to some pharmaceutical companies, most sales and representative offi ces are located in Selangor’s pulsating commercial hub, Petaling Jaya.

The healthcare sector in Selangor has never looked so promising. Now is the time for European companies to come to Selangor and look for new opportunities. For further information please contact: Mr Sven Schneider, Selangor State Investment Centre, via phone +60 (0) 3 5510 2005 or email sven@ssic.com.my.

20 EUMCCI REVIEW

EU Pavillion had organised 20 business meetings between Japanese companies and Malaysian companies

Prakash Chandran, CEO of Siemens presenting a token of appreciation to YB Datuk Dr. Maximus Johnity Ongkili

The 4th IGEM (International Greentech & Eco Products Exhibition & Conference Malaysia) 2013, was a huge success.

Since its debut in 2010, the IGEM has quickly grown to be the largest green technology exhibition and conference

in Asia. This year there were 469 exhibitors from 24 countries including the EU, Taiwan, China, South Korea, Japan and Singapore. The theme for IGEM 2013 was ‘Advancing Green Growth and Global Entrepreneurship.’ The exhibition was organised along six thematic sectors such as renewable energy and energy effi ciency, water and waste management, green transportation and logistics, eco products and services, green building and interiors and green ICT.

The EU has always had a strong presence at the IGEM. Since the fi rst IGEM, the EU Pavilion coordinated by EUMCCI’s EU Projects Desk, has been an integral part of the IGEM. The EU’s presence at the IGEM 2013 underlines European interest in forming closer ties to generate value proposition for the benefi t of both European and Malaysian businesses. The EU fi rms exhibiting at IGEM 2013 recognise Malaysia’s potential, including its increasingly attractive green technology policies and incentives.

The EU Pavilion with the EU Business Lounge buzzed with activities. Some of the events that took place at the EU Business Lounge were Business-to-Business matchmaking corner with Trademal and JETRO (Japan External Trade Organisation), EU Cocktails sponsored by BNP Paribas

IGEM 2013Date: 10th – 13th October 13Venue: Kuala Lumpur Convention CentreOrganised by: KeTTHA (Ministry of Energy, Green Technology and Water, Malaysia) and Green Tech Malaysia

Launch of the EU Pavilion by YB Datuk Seri Panglima Dr. Maximus Johnity Ongkili, Minister of Energy, Green Technology & Water. From left: Fermin Fautsch, Chairman of EUMCCI and HE Luc Vandebon, Ambassador and Head of EU Delegation to Malaysia

Malaysia Berhad, EU-KeTTHA Breakfast 2013 sponsored by Alstom and the EU Green Insights - Workshop Series 2013 which featured water and waste management experts and technology from Czech Republic, Poland and Germany.

EUMCCI also launched and published the book, Green Technology from Europe 2013. This EU sponsored publication with the support from the British High Commission, Kuala Lumpur, has been distributed free at every IGEM. These publications mark a milestone in the EU’s cooperation with Malaysia on Green Technology. The 2013 edition of this publication was endorsed by both the Malaysian Minister for Energy, Green Technology and Water, YB Datuk Seri Panglima Dr. Maximus Johnity Ongkili, and the Ambassador and Head of the Delegation

of the European Union to Malaysia H.E Mr. Luc Vandebon. The book contains an overview of the GreenTech sector in Malaysia, policy recommendations by the EUMCCI’s Environment, Energy and Green Technology (EEGT) Committee,

FEATURE

EU Lounge Sponsor:

EU Corporate Sponsor:

Supported by:

21EUMCCI REVIEW

The Prime Minister at the Siemens booth

HE Luc Vandebon, HE Martine Dorance, Ambassador of France to Malaysia and Delphine Bondu of BNP Paribas Malaysia

Saji Raghavan, Country President, Alstom presenting a token of presentation to the Minister during the EU KeTTHA breakfast

YBhg Tan Sri Peter Chin Fah Kui, former Minister of Energy, Green Technology and Water greeting Mr. Artur Dabkowski, Counsellor, Head of the Section, Trade & Investment Promotion Section of the Embassy of the Republic of Poland. Together with them is Mr. Rafal Szczepkowski, First Secretary, Trade & Investment Promotion Section of the Embassy of the Republic of Poland and Ms. Justyna Dziewota-Jablonska from PP-EKO, Poland

Minna Saneri, General Manager of EUMCCI, Marina Yong, deputy head of Energy, Environment and Green Technology Committee and Ir. Ahmad Hadri Haris, CEO of Malaysian Green Technology Corporation

as well as visibility opportunities for the exhibitors in the EU Pavilion.

Many VIPs and VVIPs stopped by the EU Pavilion, the most important being the Malaysian Prime Minister, YAB Dato’ Sri Mohd Najib Tun Razak. He visited the Siemens booth at the EU Pavillion.

In his speech on the fi rst day of the exhibition, Datuk Seri Panglima Dr. Maximus said that IGEM 2013 aimed to be “the catalyst for entrepreneurs to forge new business alliances and smart partnerships in green technologies.” Referring to the size and scale of IGEM 2013, he commented that the exhibition was more comprehensive. “This clearly demonstrates that IGEM is making big strides towards achieving its objectives of commercialising green technology, accelerating the development of eco-prenuership and addressing environmental issues,” said the Minister.

At the end of the three day exhibition, IGEM 2013 attracted over 60,000 visitors and generated an estimate RM1.2 billion in business leads. EU

24 EUMCCI REVIEW

Fancy a handbag made from seat belts and leather jackets? How about earrings made from key pads of computers and mobile phones? These are not home-made things. They are products sold by Globe Hope, an up-cycling fashion brand based in Finland which champions sustainable fashion. Sharmila Valli Narayanan meets up with its COO, Taru Aalto, who was in town to speak at the Global Entrepreneurship Summit (GES) 2013. Aalto talks about Globe Hope and the rise of up-cycling.

A NEW HOPE IN THE FASHION WORLD

INTERVIEW

When Seija Lukkala, a fashion entrepreneur from Finland with over 20 years experience

in the fashion industry, decided to start Globe Hope, an up-cycling fashion brand in 2003, many people thought that she was crazy. Lukkala, who was dissatisfi ed with the mainstream fashion world that tended to ignore the ecological and ethical matters related to fashion, wanted Globe Hope to be a company that brings sustainable fashion to the fore. She envisioned the company creating exciting and good designs that are also functional, stylish and sustainable.

Today, Globe Hope, against all odds, has become a success story. The company celebrated its 10th anniversary in 2013. Its products are available in Finland, Germany, the United Kingdom, the United States, Japan and Korea. Via its website, www.globehope.com, it delivers its products to customers all over the world. It has also gained international recognition for its work. In 2005, Globe Hope won the Designer of the Year award from Amnesty International in Finland.

Its COO, Taru Aalto, is tasked with overseeing the sales, marketing and business development of the company. Prior to joining Globe Hope, she had a very successful career with a telecommunications company.

EUMCCI REVIEW (ER): What attracted you to Globe Hope? TARU AALTO (TA): I was with Nokia for more than 10 years. I knew Seija and I helped her when she was creating her fi rst business plan for Globe Hope. One day over coffee, she was telling me some of the challenges that she faced. She needed help in sales, marketing and in growing the business. Then we came up with the idea of me joining Globe Hope. The timing was perfect as I was looking to move and do something totally different. I was always fascinated with fashion so I jumped at the opportunity. I joined Globe Hope in 2012.

ER: What is up-cycling and how is it different from re-cycling? TA: Recycling is reusing old products. For example, clothes bought at second hand stores. Up-cycling is taking something old and adapting it so that it increases its value. For example, we take discarded materials and turn it into something new – like a bag

25EUMCCI REVIEW 25EUMCCI REVIEW

or a dress. We use old seat belts and turn them into handbags. In other words, the materials are recycled and turned into new products.

ER: What are the materials that you use for up-cycling? TA: We use discarded textiles such as army surplus, discarded materials from textile industry, old work wear, safety belts, sails, old CD discs, phone keys, computer keys – you name it. When you see what our designers are able to do with the products, you will be amazed. We re-cut, re-sew, in some cases dye the products. The products are ecological, ethical and aesthetically appealing.

ER: What do you mean by ethical? TA: We are very careful who we source our products from and how they are made. Our products are not made in sweatshops. We are very strict about workers working in a healthy environment and getting a fair wage. We ensure that our production centre is near the markets so that we don’t leave carbon

footprints by exporting our goods over long distance. Currently all our production is within 300 km of our Finnish headquarters both in Finland and Estonia. Right now Asia is a very small market for us. If there is a bigger demand for our products from Asia, we would look into collaborating with partners to set up a production facility here in Asia.

ER: Which countries are the biggest markets for Globe Hope? TA: We started in Finland and we are well-known there. Right now our focus is on Germany, which is the biggest market in Europe for sustainable fashion.

ER: Are there any plans of expanding into Asia? TA: We are a very small company. Therefore, we have to be very focused on which markets we want to grow. At this moment, as our resources are very limited, we are focusing on our core markets in Europe. If there is an opportunity to collaborate with someone to build the business in Asia, of course we would welcome that very much.

ER: What are the types of products available in Globe Hope? TA: We have the permanent collection and the seasonal collection. Permanent collection mainly consists of handbags, purses, pouches, shoes, accessories etc. The seasonal

“The products are ecological, ethical and aesthetically appealing.”

collection is the clothing line for men and women. Just like mainstream fashion, we come out with new collections every season.

We also have a business unit that is focused on making ecological business gifts for companies. Some companies have excess laptop bags or advertising banners that they don’t need any more. They bring these items to us and ask us to make products which the companies can give away as gifts to their clients.

ER: Will up-cycling get popular with the masses? TA: Right now up-cycling is still on the fringe, but I am confi dent that one day it will become mainstream. Fashion as an industry will change. It will become more ecological and ethical. Consumers are also very conscious these days of where their clothes come from. They are beginning to ask questions like are animals being killed to make the clothes? Are workers being

Bags made from seatbelts

“Fashion as an industry will change. It will become more

ecological and ethical.”

26 EUMCCI REVIEW

exploited? We will see more ecologically produced fabrics and more ethically produced clothing. This trend will only grow bigger as the years go by. Up-cycling, as part of this trend in ecological fashion will also be on the upswing. Things will have to change because we have no choice. The scarcity of natural resources and the growth of the global population are forcing us to think and act in new ways.

ER: What is the biggest challenge faced by Globe Hope? TA: Trying to change the perception of people towards up-cycling is the biggest challenge. Although we have a growing number of consumers who are very conscious about ecological fashion, they are in the minority. Some people still have doubts about using discarded materials, but luckily their numbers are decreasing. We always tell people that although this material had been used once, but now it has been turned into something new so it’s different now. It does not matter what it was; what matters is what it is now. We believe that the history of the materials used adds to the value and character of the product.

“I am not just selling fashion but a way of life which is for the betterment of the planet.”

Old curtain materials are used for making purses

A motherboard transformed into a pendant

Dress made from discarded materialsSeija Lukkala, CEO and Founder of Globe Hope

Earrings made from computer key boards

ER: What is the best part about your job? TA: Trying to build this business is the best part of my job because it is so inspiring. I am not just selling fashion, but a way of life which is for the betterment of the planet. But this takes a lot of energy as that means you have to change the perception of the consumer while at the same time grow your business. Every time I see a customer who fi nally understands what we are doing and starts changing her purchasing behaviour, I feel so happy. EU

INTERVIEW

27EUMCCI REVIEW

EUROPE IS THE HAPPIEST PLACE

WILD EUROPE

NATIONAL MINIMUM WAGE FOR GERMANY

The London-based Legatum Institute has been coming out with its Prosperity Index since

2009. The Legatum Institute is a think tank that is dedicated to fi nding out how to make the world a better place. Its Prosperity Index has been praised and in equal measure critised for being biased

Good news for conservationists in Europe. Species that were almost extinct 50 years ago have now

returned to their natural habitats. Animals like the Eurasian beaver, European bison (largest herbivore in Europe) and the White-tailed eagle are now roaming parts of Europe from where they were almost hunted to extinction in the 20th century. This was disclosed in a fi rst ever in-depth report on European wildlife conservation titled Wildlife Comeback in Europe. The report was commissioned by Rewilding Europe, an organisation working to “make Europe

Germany will introduce its fi rst ever national minimum wage, set to be effective in 2015. At €8.50 per hour,

the minimum wage would place Germany between France and the UK. Currently in Europe, Belgium has the highest monthly minimum wage at €1,502 while Portugal has the lowest at €566. EU

NEWS

and even racist. But still, the world seems to look forward to the list. It released its list for 2013 and stated in its report that “despite the tumultuous events of the past fi ve years, global prosperity is actually still on the rise.” It also found that the happiest countries are those that enjoy peace, freedom, good health care, quality

Here are the top 10 countries in Legatum Institute Prosperity Index 2013.1. Norway2. Switzerland3. Canada4. Sweden5. New Zealand6. Denmark7. Australia8. Finland9. The Netherlands10. Luxemborg

a wilder place”, with wildlife, wild nature and natural processes. The report describes how, why and where 37 mammal and bird

species have recovered over the past 50 years, providing important lessons for the conservation of these and other species. EU

education, a functioning political system and plenty of opportunity.

Europe fi gures prominently in the top 10 list where seven of the countries on the list is from that continent. Which is the happiest country? Norway, which has held on to the fi rst spot since the fi rst time the list was published. EU

Source: Forbes

Source: Pravda English online edition

Source: Quartz/qz.com

€

28 EUMCCI REVIEW

ANGELS IN KUALA LUMPUR

Angels came to Kuala Lumpur. Not the angels with wings, but angel investors from Europe. The

European Trade Association of Business Angels, Seed Funds and Other Early Stage Market Players, or better known as EBAN, is the pan-European representative for the early stage investor community. It has more than

EBAN, the European Trade Association of Business Angels, Seed Funds and Other Early Stage Market Players, visited Malaysia for the fi rst time at the invitation of the British High Commission Kuala Lumpur and EUMCCI.

Angels Workshop

Date: 6th - 7th October 2013Venue: TM Convention Centre, Kuala LumpurOrganised by: Cradle Fund Sdn Bhd, Angles Den Asia, EUMCCI, the British High Commission Kuala Lumpur

The manual Raising Angel Investment Business Insights for Entrepreneurs in Malaysia 2013 was distributed during the workshop

EBAN representatives with the Cradle team and other investors associated with MBAN and the investment workshop

100 member organisations in 35 countries and was established in 1999. EBAN was represented by Mr. Ari Korhonen, the EBAN vice-president and Luis Galveais, director, EBAN Secretariat. EUMCCI, a Gold Member of EBAN,and the British High Commission Kuala Lumpur invited EBAN to engage with Malaysia’s emergent business angel community via a two day workshop. EBAN’s visit was part of the UK project titled ‘Enhancing Cooperation in Facilitating SMEs Access to Finance for Sustainable Consumption and Production (SCP) Projects.’

An angel investor is defi ned by the website Investopedia, as someone “who provides fi nancial backing for small startups or entrepreneurs… The capital they provide can be a one-time injection of seed money or ongoing support to carry the company through diffi cult times.”

FEATURE

29EUMCCI REVIEW

Why Ari Korhonen prefers to be an angelKorhonen was a very successful tech entrepreneur for 20 years before he sold his company. Instead of retiring, he was restless to do something. “I was faced with a dilemma. Should I start another company or help other people with their companies? I chose the latter,” he says. He has been a full time angel investor for the past seven years.

He has not regretted his decision. “I am able to share my knowledge, expertise and network with many younger entrepreneurs. In the process I also learned a lot. At this stage in my life, making money, while it is important, is not the main thing that drives me. Helping entrepreneurs grow their company gives me great satisfaction. Being an angel investor also means that I can invest in several different companies and not just concentrate on one. When I sold my company, I ended my career as an entrepreneur, but started another career as an angel investor.”

The Angel workshop

The Angels Workshop was part of the Ideas2InvestProgramme which was held from 4th to 12th October. Ideas2InvestProgramme was a Satellite Event held together with the Global Entrepreneurship Summit (GES) 2013 which was held from 4th to 12th October 2013.

About 25 people attended the workshop comprising of Malaysia’s existing Business Angel Networks, non-affi liated individuals and budding entrepreneurs. During the workshop, a booklet, Raising Business Angel Investment, Insights for Entrepreneurs in Malaysia 2013 was distributed to the participants. The booklet was produced in collaboration with EBAN, EBAN Irish member HBAN, EUMCCI, the British High Commission Kuala Lumpur and Cradle Fund Sdn Bhd. The booklet contained plenty of useful advise for budding entrepreneurs, interesting information on the equity raising process for entrepreneurs and lots of helpful hints on how to woo investors, what to look out for, how to do a business plan etc.

The workshop was a real eye opener for many Malaysians as angel investors are still a relatively new phenomenon here. Korhonen, a Finnish investor who has a portfolio of over 20 investments and Mr. Christopher Wilcock, an experienced American angel investor who is now based in Hong Kong, generously shared their experiences on being angel investors. They gave insights into what to look for before investing in a company. Korhonen emphasised that an angel investor not only invests in a company to make money, but also to share his expertise and to groom younger entrepreneurs. Participants were also given insights into the key concepts of what an angel investor does and

the usual investment process that entrepreneurs and investors go through.

One of the results of the visit by EBAN was, it was able to connect with Cradle Fund, an agency under the Ministry of Finance that gives out grant for innovation. Cradle Fund is also the leading angel community in the country and is the backbone of the recently created Malaysian Business Angel Network (MBAN). MBAN was set up in 2012.

On 8th October 2013, MBAN signed a memorandum of understanding (MOU) with EBAN to increase cooperation between the two organisations. Mr. Nazrin Hassan, Cradle Fund Sdn Bhd chief executive offi cer and MBAN interim chairman hopes that MBAN can leverage on the European organisation’s expertise in order to encourage more angel investors to come on board.

“We hope to work more closely with EBAN so that we can mutually support the developments of angel investor activities in Malaysia and Europe and perhaps, eventually encourage co-investments by European angels together with Malaysian angels, in domestic technology start-ups,” he said.

Galveias said that EBAN is very impressed with the Malaysian Angel Tax Incentive, which is considered one of the best in the world. He said it could be benchmarked for other similar initiatives to attract more angel investors. “Angel investing is a risky business and incentives are really good to allay any initial fears fi rst-time angels might have,” he said.

The EBAN-MBAN partnership will certainly help in making angel investors a force to be reckoned with in the country. EU

Luis Galveias

30 EUMCCI REVIEW

CHAMBERNEWS

EUMCCI’S YEAR-END APPRECIATION EVENING

Venue hosted by: KLCC Convention Centre

2013 was an interesting year for EUMCCI where the Chamber hosted many important events and meetings.

To thank all the members and corporate sponsors, EUMCCI held the year-end appreciation evening on 5th December at the Kuala Lumpur Convention Centre. The event was well attended and guests had a good time mingling and networking with one another.

Mr. Fermin Fautsch, Chairman of EUMCCI, gave a short welcoming speech where he said that the Chamber has gone through lots of changes and challenges during the past year. The Chamber has been very busy. “I was amazed at the large number of activities and meetings that were organised by the various committees throughout the year,” he said. He briefl y highlighted some of the important events held by the Chamber throughout 2013. Fautsch promised that next year would be more exciting. “In 2014, besides just organising activities, we will also study the impact of these activities on our members to fi nd out how they benefi t from them,” he added. EU

31EUMCCI REVIEW

EUMCCI DEFENCE & SECURITY COMMITTEE IN GPEC ASIA 2013

The third General Police and Special Equipment & Conference Asia (GPEC) was held at the Putrajaya

International Convention Centre (PICC) from 2nd to 4th October 2013. The exhibition is the only one of its kind in the Asia-Pacifi c region which promotes security products for the police and its related agencies. EUMCCI Defence & Security committee participated in GPEC Asia 2013 with a booth at the exhibition.

EBO GOES TO MYANMARThe European Business Organizations

(EBO) Worldwide Network Global Meeting 2013 was held successfully

in Yangon, Myanmar from 13th to 15th

November 2013. The meeting also saw the launch of the EU Myanmar Task Force Mission. About 15 member countries of the EBO attended the meeting. Also present at the launch of the Task Force Mission was the European Commission’s Vice President and Commissioner for Industry and Entrepreneurship, Mr. Antonio Tajani. He led the business delegation from Europe, which comprises about 100 companies from EU.

The EBO held a series of discussions with Tajani, members of the Cabinet, offi cials of DG Enterprise and stakeholders of European Business, namely, Business Europe and Eurochambres.

The EBO Worldwide Network members also attended the EU Myanmar Business Forum, held at the Union of Myanmar Federation Chamber of Commerce and Industry (UMFCCI). Members later met with the President and Vice President of UMFCCI who affi rmed their interest to collaborate with EBOs. EUMCCI’s general manager, Ms Minna Saneri, who attended the meeting, was confi rmed as the vice chairman of the EBO Worldwide Network. EU

The event was offi ciated by the Minister of Home Affairs YB Dato’ Seri Dr Ahmad Zahid Hamidi. Also seen at the event was

the IGP Tan Sri Khalid Abu Bakar, who led a delegation of senior police personnel to the exhibition. EU

32 EUMCCI REVIEW

CHAMBERNEWS

PERSONAL DATA PROTECTION ACT

BREAKFAST DIALOGUE: MALAYSIA AS A GLOBAL TALENT DESTINATION

The Personal Data Protection Act 2010 (“PDPA”) came into force on 15th November 2013. How will this

affect businesses that regularly collect data from employees and potential employees? Does an employment relationship fall within the ambit of “commercial transactions” as defi ned under the PDPA? To answer this and many other questions regarding PDPA and

Mr. Siva Kumeren from Talent Corp gave an interesting talk on the immigration transformation

that is taking place in the country with a view of making Malaysia a major global talent destination. The breakfast dialogue was held on 12th December 2013 at the Triden Suite Conference Room at Menara Binjai.

Siva Kumeren briefed the participants on the efforts taken by Talent Corp to align policies and programmes to ensure effective service by public agencies and private entities. He also gave an insight into how Talent Corp works tirelessly to ensure the implementation of every initiative related to coordinating efforts and aligning

policies and programmes to attract and retain expatriates and what steps are put in place to streamline and simplify expatriate services as an enabler to transform the current immigration services. All the steps taken by Talent Corp are in line to make Malaysia a top 20 destination for global talent by 2020. EU

PDPA event hosted by Skrine

Venue hosted by: Triden Suite

employers, EUMCCI and the well-known law fi rm Skrine organised a Breakfast Talk on The Personal Data Protection Act 2010 on 10th December 2013 at Skrine. The talk by Ms. Selvamalar Alagaratnam, touched on the requirements of the PDPA, the steps that employers should take in relation to employee data and the potential exposure should the PDPA not be complied with. EU

33EUMCCI REVIEW

CORPORATEPARTNER

TOWERS WATSON HEALTH & WELLNESS SEMINAR

THE HEADMASTER VISITS EPSOM COLLEGE

I t pays for companies to invest in their employees’ health and wellness. That was the message for the participants

who attended the Towers Watson Malaysia’s Health & Wellness Seminar in Kuala Lumpur on 13th November 2013. The event was attended by over 80 participants comprising of HR and business leaders. The seminar was interactive with live polling and a panel discussion.

T he world famous Epsom College opens its door in Malaysia for the first time in September 2014 to

students ages three to 18 years. Known as Epsom College in Malaysia (ECiM), the college welcomed an important visitor recently. Headmaster designate, Martin George, who will join ECiM in July 2014, visited the campus with the Chairman of ECiM Board, Tan Sri Tony Fernandes.

The panelists who comprised of top business leaders from some of the biggest corporations in Malaysia shared insights and best practices of their organisations in promoting employee health and well being. The panel discussion was moderated by Hash Piperdy, Director of Benefits, Towers Watson Malaysia and Dr. Rajeshree Parekh, Tower Watson’s Asia Pacific Director for Health & Wellness.

One of the highlights of the event was the findings from the Towers Watson’s Staying@Work Survey, which demonstrates how effective health and productivity (H&P) programmes have business advantages. One of the key findings of the survey was that globally, employers with highly effective H&P programmes show 34 per cent higher revenue per employee. EU

George was impressed with the facilities at the campus. “What strikes me about ECiM is the strength of the values which underpin the educational philosophy. This is in large part what characterises the best of British boarding education, a genuinely fulfilling and extensive school experience in which moral and civic values and attitudes are as important as academic, sporting or musical success,” he said at the end of the visit. EU

34 EUMCCI REVIEW

CORPORATEPARTNER

QATAR AIRWAYS FLIES TO EDINBURGH

MALAYSIA SHINES AT INTERNATIONAL CULINARY COMPETITION

Now you can fly to Edinburgh easily thanks to Qatar Airways, which announced it will begin flights

to the Scottish capital effective 28th May 2014. There will be five flights weekly direct from Doha, Qatar. Edinburgh will be the airline’s third destination in the United Kingdom preceded by London in 1997 and Manchester in 2003. The airline currently operates flights to the UK’s London Heathrow with five flights per day while flying 10 times per week to Manchester Airport.

Recognised as a World Heritage Site, Edinburgh boasts a long and colourful history with its cobbled streets and iconic architecture such as Edinburgh Castle. The new route to Edinburgh will be served by a Boeing 787 Dreamliner in a two-cabin configuration, offering passengers 22 Business Class and 232 Economy Class seats. Qatar Airways flies 21 flights weekly from Kuala Lumpur to Doha. EU

Hotel Istana Kuala Lumpur City Centre has very reason to be proud. At the Culinary World

Masters Salon Culinaire Mondial 2013, held at Basel, Switzerland in November, Malaysia came out as the world’s fifth best culinary team. Hotel Istana’s Chef Ismail Mohd Yusof, sous chef of Urban restaurant, was selected to join the National Culinary team to represent Malaysia. The team did Malaysia proud when they won the gold medal for Cold Buffet Display. The team also won a bronze medal for Hot Cooking for 110 people. Chef Ismail was assigned as the garde manger for the team. The team, which comprised of chefs from several five star Malaysian hotels, trained together for six months before the competition to perfect their team work and compatibility.

The Salon Culinaire Mondial ranks as one of the three most important international

team-cooking competitions, alongside the “Culinary Olympics” and the Culinary World Cup. Ten of the best national teams plus other participants from more than 30 countries took part in this event. EU

35EUMCCI REVIEW

THE ENERGY EFFICIENT BUILDING EXPERTS

THE COMPANY OF THE YEAR

One of the most iconic buildings in Putrajaya is the Malaysian Energy Commission’s headquarters,

which is known as the ST Diamond Building. What makes this building stand out is that it is a landmark energy effi cient and environmentally friendly building. The building only consumes one third of the energy consumption of typical offi ce buildings in Malaysia. The

D iGi emerged triumphant at the The Edge Billion Ringgit Club 2013 awards. It won the coveted

Company of the Year award. DiGi also won two other awards that night: The Best Performing Stock for companies with a market capitalisation of over RM10 billion and for the Most Profitable Company in the trading and services category. The Edge Billion Ringgit Club awards recognises and honours Malaysia’s best performing listed companies.

DiGi CEO Henrik Clausen received the awards on behalf of the company from Malaysia’s Prime Minister Datuk Seri Najib Razak. DiGi has over the years consistently impressed seasoned investors and analysts with its ability to deliver strong return to shareholders. EU

building reportedly saves RM1 million in operational costs. The building has gotten the attention of the world and has won awards for its green features. Two of the major awards that it won are 2012 ASEAN Energy Award Winner and 2013 ASHRAE Technology Award where it won the second place for the successful implementation of technological innovation. ASHRAE is a global award given by the American

Society of Heating Refrigeration and Air conditioning Engineers.

IEN Consultants was the energy effi ciency and sustainability consultants for the ST Diamond Building. In fact, three of the green buildings that were featured in the special edition of Malaysian stamps that featured energy effi cient buildings were all clients of IEN Consultants. EU

36 EUMCCI REVIEW

NEW CORPORATEPARTNERS

Beverly Wilshire Medical Centre Sdn BhdMedical Centre

Person in Charge:Mr Vincent Wan, Executive Director Sales&MarketingAddress: Level 8 & 9, DiJaya Plaza, No.237, Jalan Tun Razak, 50400 Kuala LumpurTel: 603-2118 2888Fax: 603-2118 2822Email: vincent.wan@beverlywilshiremedical.comWebsite: www.beverlywilshiremedical.com

Autoworld Asia Sdn BhdAutomotive HONDA 3S Centre

Person in Charge:Dato’B. Bhaskaran Pillai, Managing DirectorAddress: Lingui Industrial Park, 15 ½ Miles, Sungai Pelang, 47000 Sungai Buloh, Selangor.Tel: 603-6099 6808Fax: 603-6156 4822Email: bhaskaran@samling.com.myWebsite: www.autoworldasia.com.my

Corporate Information Travel Sdn BhdA corporate and leisure travel management company handling individual as well as corporate travel with expertise in Meeting, Incentive, Conferences & Exhibitions (M.I.C.E).

Person in Charge:Mr Thaddeus Foo, Managing DirectorAddress: B-1-3, (1/F, Block B) Northpoint Offi ces, Mid Valley City, No.1, Medan Syed Putra Utara, 59200 Kuala Lumpur.Tel: 603-2091 9988Fax: 603-2091 9989Email: yeenaa.thien@cit.travelWebsite: www.cit.travel

Daichi Holding BerhadAerospace (Cabin Fittings/FHS/MRO)

Person in Charge:Mr Arthur Su, PresidentAddress: Suite F-1-5, Neo Damansara, Jalan PJU 8/1, Damansara Perdana, 47820 Petaling Jaya, Selangor.Tel: 603-7727 1201Fax: 603-7727 2327Email: thearthursu@gmail.com

37EUMCCI REVIEW

MYEG Services BerhadMYEG, an MSC-status company listed on the Main Market of Bursa Malaysia is Malaysia’s E-Government services provider.

Person in Charge:Ms Laurra Pheh, Co Head of Corporate SalesAddress: Lot 5, Level 5, KPMG Tower, No. 8, First Avenue, Persiaran Bandar Utama, Bandar Utama, 47800 Petaling Jaya, SelangorTel: 603-7801 1688Fax: 603-7801 1643Email: Laurra@myeg.com.myWebsite: www.myeg.com.my

Safeguards G4S Sdn BhdSecurity Services

Person in Charge:Mr Jonathan Tedd, Director of Integrated Security Solutions, SEAAddress: Lot 6, Safeguards Business Centre, Jalan 225, Section 51A, 46100 Petaling Jaya, Selangor.Tel: 603-7884 8888Email: jonathan.tedd@ame.g4s.comWebsite: www.safeguards.g4s.com

Triden Suite Sdn BhdTriden Suite, MSC status Serviced and Virtual Offi ce

Person in Charge:Regine Lee, CEOAddress: Suite 8.01, Level 8, Menara Binjai, No.2 Jalan Binjai, 50450 Kuala Lumpur.Tel: 603-2386 7700Fax: 603-2386 7711Email: info@tridensuite.comWebsite: www.tridensuite.com

Puncak Deras Sdn BhdBuilding & Civil Construction

Person in Charge:Mr Chu Su Ken, Managing DirectorAddress: Lot 33, 2nd Floor, Block E, Damai Plaza III, 88300 Luyang, Kota Kinabalu, Sabah, MalaysiaTel: 6088-236622Fax: 6088-242611Email: puncak_deras@hotmail.com

38 EUMCCI REVIEW

Exclusive Corporate Partner Benefi ts

Network:With over 30 events each year, the Chamber enables members to meet leaders in business and political spheres.

Communicate:The EUMCCI Quarterly Review reaches over 3000 companies, associations and stakeholders in hard copy and online. The EUMCCI e-bulletin is sent to over 6000 business leaders bi-monthly.

Exposure:The Chamber is online at www.eumcci.com, on Facebook and Linked In. Advertise with us on our website and in our publications.

Member perks:Attractive discounts from our member companies and vetted partners.

Infl uence:Raise issues via Committees and dialogues.

Online listing:All members are entitled to a listing in our online directory with a weblink direct to their own website.

To become a Corporate Partner contact us: member@eumcci.com; +603 2162 6298 or visit www.eumcci.com to sign up online.

Qatar Airways –EUMCCI Platinum Partner

Qatar Airways privileges for EUMCCI Corporate Partners include: year around discounted prices to select destinations.

EUMCCI Member – Get – Member Campaign 2014

Reach Out. Connect. Refer. Every time you refer a new member, you strengthen EUMCCI. A vital and growing EUMCCI membership means greater recognition of our collective VOICE. Why not reach out and share the same valuable opportunities with your colleagues? We know that you understand the value of your EUMCCI membership and now is the perfect time to reach out to your professional contacts and invite them to join EUMCCI. And, when you refer a new member, we want to reward you for every successful sign-up.

What’s In It for You?You are the greatest testimony to the benefi ts of being an EUMCCI member. By referring others, you will:• Expand your network of industry peers• Strengthen EUMCCI—A vital and growing membership means

greater recognition of the Chamber and OUR collective VOICE• Receive recognition for your recruitment efforts• Receive an exclusive complimentary invitation to our VIP event for

every successful sign-up.

Please fi ll in the information below and email to marylopez@eumcci.com or fax: 603-2162 6198

A: Referrer’s Information:

Name

Designation

Company

Email Address

Tel

B: I’m referring:

Name

Designation

Company

Email Address

Tel

THANK YOU

:_________________________________________

:_________________________________________

:_________________________________________

:_________________________________________

:_________________________________________

:_________________________________________

:_________________________________________

:_________________________________________

:_________________________________________

:_________________________________________

EXCLUSIVE CORP PARTNER BENEFIT

39EUMCCI REVIEW

Opened in January 1992, the Holiday Villa Beach Resort & Spa Langkawi has gained recognition as a world class resort and spa that is perfect for any occasion. Set on the mystical isle of

Langkawi, it is sprawled over 13 acres of land and fronts one of the island’s fi nest beaches, Pantai Tengah. It is 15 minutes drive from Langkawi International Airport at Padang Mat Sirat and 55 minutes by air from Kuala Lumpur.

The resort features 258 spacious guest rooms ranging from superior and deluxe to suites with a host of food and beverage outlets offering spectacular views of the sunset. It is a perfect choice for family getaways, honeymoons or even corporate meetings. Each guest room also features a private balcony with a breathtaking view of the sea.

All the guest rooms and suites are well furnished with modern touches and feature individually controlled air-conditioning, coffee/tea making facilities, LED fl at screen television with free in-house movies and selected satellite programmes, self-dialled telephone with IDD service, in-room personal safes and wireless internet facilities.

For dining, the 24-hour Lagenda Restaurant is operational and offers a wide range of local and western cuisines. Other outlets include Matahari Lobby Lounge, Tropical Beach & Snack Bar and a pool bar. There is also a function room at the Lagenda for special arrangements and group meals for up to 80 people.

Holiday Villa Langkawi boasts one of the largest swimming pools in Malaysia with an open air jacuzzi. In addition, it is constructing a new pool club – Lavilla Pool Club which comes with a spectacular infi nity pool and a new restaurant on the beachfront and is expected to be operational by the end of 2013.

Other facilities include a ladies indoor pool, three tennis courts, a fi tness centre, Mothers and Kiddies Fun Club, an internet room and Amoaras Relaxation Spa. The spa is built on 2,600 square feet of landscaped land and offers a delightful one-stop body pampering centre. It features a lounge, 7 treatment rooms, an aqua medic room, male and female steam and sauna rooms. The spa uses natural herbs and ingredients along with the fi nest blend of traditional and modern techniques as well as a fusion between eastern and western treatments. It promises a peaceful and tranquil experience.

The ballroom provides the facility for banquets and conferences for up to 200 persons. For meetings, there are

Holiday Villa Beach Resort & Spa Langkawi is the perfect getaway for any occasion.

A MYSTICAL, MAGICAL RESORT

three separate rooms. Other facilities that can be arranged include sea sports, golf, island excursion, fi shing, tours and car rental services.

The Holiday Villa group operates hotels and resorts in 12 countries including Malaysia, Indonesia, United Kingdom, France, Switzerland, Sudan, Qatar, Saudi Arabia, Bahrain, Cambodia, Vietnam and P R China.

For reservations and enquiries, please contact Holiday Villa Beach Resort& Spa Langkawi at, tel: +604-952 9999 or fax: +604-955 1504/2211 or e-mail: reservation@lgkhvl.com or the Kuala Lumpur corporate sales offi ce at tel: +603-2162 2922 or fax: +603-2162 2937 or email: centralresv@holidayvilla.com.my or our website at www.holidayvillahotels.com EU

40 EUMCCI REVIEW

CALENDAROF EVENTS

Here is the line up of recent and upcoming events organised or supported by EUMCCI.The dates and venues for the upcoming events have not been fi nalized. Please refer to the EUMCCI website – www.eumcci.com – for latest updates on the events.

Recent Events:

Sounds of Europe: 10th Anniversary EveningDate: 7th November 2013 Time: 7.00pm to 11.00pmVenue: KLPAC

Corporate Partners Appreciation EveningDate: 5th December 2013Time: 5.30pm to 8.00pmVenue: KLCC Convention Centre

Personal Data Protection Act 2010Date: 10th December 2013Time: 9.30am to 11.30amVenue: Skrine

Malaysia a Global Talent DestinationDate: 12th December 2013Time: 10.00am to 12.00pmVenue: Triden Suite

Upcoming Training Courses: EUMCCI is proud to introduce high level training courses in partnership with Imperial Consulting Sdn Bhd beginning with:

• Predictive Talent Analytics – “The science of enabling talent to drive performance”: 2 days March 17th - 18th 2014

• CELEMI Decision Base – “Making key people understand how and why their decisions infl uence the entire organisation”: 2 days April 7th - 8th 2014

• Coaching Certifi cation – “Equip and power yourself with a globally recognized credential programme”: 7 days (dates TBC)

Preferential rates apply for EUMCCI Corporate Partners. Please contact Mary Lopez at Tel: 03-21626298 / eumcci@eumcci.com or visit our website www.eumcci.com for more information and to sign up.

Upcoming Events:

• February 2014NKRA LuncheonDate: 25th February 2014Time: 12.00pm to 2.00pm

• March 2014In Conversation with the KeTTHA MinisterTime: 12.00 to 2.00pm

Dialogue with the Director General of Ministry of TransportTime: 9.00am to 11.00am

• April 2014EU-Malaysia Trade & Investment ForumDate: 17th AprilTime: 9.00am to 2.00pm

In Conversation with the Chief Minister of PenangTime: 12.00pm to 2.00pm

Taste of Europe Fest: PenangTime: 6.00pm to 10.00pm

Note: All events are correct at the time of printing. The events might be subject to change due to unforeseen circumstances. Please check EUMCCI website at www.eumcci.com for the latest updates on events or direct inquiries to events@eumcci.com or eumcci@eumcci.com or call +603 - 2162 6298

More than 4 Universities and 128 Colleges

Education

BEST SHOPPING& Tourism Destination

SSIC Berhad (481741-M)No. F1-2-G, Jalan Multimedia 7/AG, CityPark, i-City, 40000 Shah Alam, Selangor Darul Ehsan, MALAYSIATel: +603 5510 2005 Fax: +603 5519 6403, 5511 2008, Website: www.ssic.com.my, E-mail: enquiry@ssic.com.mym.my

SIA

With 23% contribution to Malaysia’s GDP, Selangor is the most vibrant powerhouse in the country. We are home to the largest

seaport and international airport, while being a major innovation and manufacturing hub with an excellent ICT ecosystem and

communication infrastructure. Come and join this vibrant investment destination. Do contact us, we will gladly advise you!

INVEST IN V IBRANT SELANGOR

Investments*

CLOSE PROXIMITY TO

KUALA LUMPUR B U S I N E S S C E N T R E

Location

37 GOLF COURSES

More than

Japan USD3.70 billionUnited States USD3.20 billion

Singapore USD1.90 billion

Germany USD1.60 billion

Korea USD0.61 billion

Major Investors by Country*

*294,990 Employment created

Highest number of companies awarded

with MSC status

1,495companies

RM RM

Total Capital Investment:USD32.29 billionTotal FDI:USD16.18 billionTotal DDI:USD16.10 billion

Major Multinational Companies

SEPANG F1 CIRCUITHome of Motorsports –

Business or Leisure

Key Industries

*from 2000 - 2012

EDINBURGHSCOTLAND

From the moment you step on board Qatar Airways you will be delighted with our spacious cabins and comfortable seats. Indulge yourself with over 1,000 in-flight entertainment options, and tantalizing menu choices. Our award winning cabin

crew will care for you throughout your flight.

Now that we are a member of the oneworld alliance you can also travel seamlessly to over 800 destinations worldwide, access over 550 airport lounges and benefit

from a generous and well-established frequent flyer program.

To book your ticket please visit qatarairways.com/my or contact your preferred travel agent.

World’s 5-star airline.

Commencing 28th May 2014.