HOLIDAY Edition
香港及澳門澳洲商會
austcham news
Issue 169, DEC 2014 - JAN 2015
www.austcham.com.hk
Climate Change Smokescreen Obscures
G20’s Boost to Global Growth
A
s he prepared to host the recent
G20 Summit in Brisbane, Australian
Prime Minister Tony Abbott wanted
his guests — the most powerful leaders in
the world — to focus on three key themes:
boosting growth and employment;
enhancing global economic resilience;
and strengthening global institutions. The
one issue he did not want to discuss was
climate change. Political commentator
Peter Hartcher, wrote on The Interpreter
website that Abbott’s desire to keep
climate change off the agenda was a
“point of political vanity in not wanting
to shine the global limelight on an issue
seen to be a Labor one”.
Unfortunately for Abbott, his two most
powerful guests thrust climate change in to
the global limelight three days before the
G20 started. US President Barack Obama
and Chinese President Xi Jinping, who
were both in Beijing at the time for the
Asia Pacific Economic Cooperation (APEC)
Leaders summit, announced an agreement
to cut greenhouse gas emissions. This
marked the first time that the world’s two
largest polluters had come together for joint
action on climate change. It was big news
— easily overshadowing Xi’s signal APEC
achievement of launching a study into a
Free Trade Area of the Asia Pacific (FTAAP)
— and quickly overwhelmed Abbott’s desire
to avoid talking about climate change.
“Abbot had been caught indulging the
provincial reflex in the middle of a global
gathering,” Hartcher wrote.
“The result? The economic agenda that
Abbott most wanted to discuss was
largely overshadowed by an artificial
argument on climate change, the very
subject he wanted to avoid.”
More salt was added to Abbott’s wound
when the issue, which only received
one paragraph in the final five-page
communique, dominated the headlines
during and after the summit and obscured
some of the real gains that were made
on the G20’s economic agenda. The most
important outcome was a set of 800 policy
proposals that countries put forward to
boost growth in their economies. The
International Monetary Fund (IMF) and
cont. P2
COPYRIGHT © 2014 THE AUSTRALIAN CHAMBER OF COMMERCE IN HONG KONG AND MACAU
2 | COVERstory
The Economist newspaper said the
“commitment to ‘study’ the idea over
the next two years is in effect to launch
it”. The paper added that any such
arrangement would be “unlikely to be
notable for its high standards” however
it was “intended to stand in contrast
to the predicament of the 12-nation
Trans-Pacific Partnership, sponsored by
the US, which remains bogged down in
negotiations between the US and Japan
despite earlier hopes of a breakthrough
announcement at APEC”.
Organisation for Economic Cooperation
and Development (OECD) estimated that,
if fully enacted, the measures would add
2.1 per cent to global growth over the
next five years.
Mike Callaghan, Director of the Lowy
Institute’s G20 Studies Centre, told
the ABC it was unfortunate Abbott’s
agenda had been “hijacked” by climate
change because the summit had made
“substantive” achievement on growth, tax
and trade. It was “certainly better than
some past summits,” Callaghan said.
“It’s much easier to tell people that the
G20 is trying lift growth by 2 per cent
over five years than previous (summits)
when the language (in the communique)
talked about strong frameworks and
sustainable and balanced growth when
nobody quite knew what that meant,”
he said.
IMF managing director Christine Lagarde
said the body would monitor the
commitments “country by country, action
by action, reform by reform” to ensure
they were delivered.
“We will ... report to the G20 as publicly
as is possible,” she said.
Another strong outcome was on tax, with
the G20 driving change so banks will
need to disclose to other jurisdictions
if they’re holding the accounts of a
foreigner, making it more difficult to
hide money overseas. The leaders also
added momentum to a push to limit
corporations from shifting profits to
locations with lower tax thresholds.
One of Abbott’s major proposals for
the weekend also won support and he
announced that Sydney would be set
up as a Global Infrastructure Hub to
address an estimated $70 trillion in extra
infrastructure needed by 2030.
Meanwhile, at the earlier APEC meeting
in Beijing, China used the event to
recast itself as the lynchpin of regional
diplomacy. After years of rising tensions
in the region due to China’s perceived
growing assertiveness, Xi outlined a
“responsibility to create and realise an
Asia-Pacific dream for the people of the
region”.
For Xi, this dream is built around
every country in the region becoming
prosperous through economic growth.
He sees the FTAAP as one of the
cornerstones of the dream although in
reality little is known about exactly how
it would operate because Xi has only
committed to “study” the idea. The broad
idea itself — a pan-regional free trade
area — has been around for decades
but Xi is now its biggest cheerleader and
urged APEC’s other members to join him.
Professor David Shambaugh from George
Washington University said Xi’s plan for
the FTAAP was a “major initiative” and a
definite Chinese counterpoint to the TPP.
“There is real economic — you might call
it geo-economic — competition going on
between the US and China in this entire
region with alternating proposals on both
sides,” he said.
He said the FTAAP was only in its infancy
and it was still too early to determine
whether other countries would “buy-in”
to the idea.
“It hasn’t been accomplished, in fact,
negotiations haven’t even commenced,”
he said.
“(Xi’s) just kicking off the idea but it’s
going to be interesting to see how far
it goes.”
- Michael Wray is a former News Ltd
journalist now based in Hong Kong.
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4 | Chamberchatter
EVENTSUPDATE
CHAIRMAN'SCOLUMN
T
his month’s issue of AustCham
News is a holiday edition and
covers a variety of topics. In the
mix is comment on the G20 meeting
that was held in Brisbane, the (now
done and dusted) China-Australia Free
Trade Agreement (ChAFTA) and a variety
of other topics.
On ChAFTA, I was invited to attend the
address to Parliament by President
Xi Jinping and the dinner hosted
by Prime Minister Tony Abbott to
mark ChAFTA. China is Australia’s
largest trading partner in goods and
services and is Australia’s largest
services export market. ChAFTA holds
promise to deepen existing business
ties between Australia and China, and
should benefit the economies of Hong
Kong and Macau and hopefully provide
opportunities for some AustCham
members. The celebrations in Canberra
were appropriate and warranted but the
imperative now is to find ways to take
advantage of ChAFTA to advance mutual
interests noting that the challenges
of how to enter China (and when
and where), and then the challenge
of building a sustainable business in
China, may have become easier to deal
with but still remain.
The first major AustCham event in 2015
will be the AustCham National Australia
Bank Australia Day lunch on January
23 with 2013 Australian of the Year Ita
Buttrose. A number of members already
have contacted me to say that they
are looking forward to attending this
signature event.
Another event to look out for is the
AustCham Westpac Australia-China
AustCham Hong Kong and Macau
Room 301-302, 3/F, Lucky Building
39 Wellington Street, Central., Hong Kong
Tel: +852 2522 5054 Email: [email protected]
Business Awards
which rotates
between Hong
Ko n g , S h a n g h a i
and Beijing. It is
our turn to host
the event in 2015
and much planning
has already been
done to ensure that the Awards are
a great success. Nominations for the
Awards open on 12 January 2015 and
I encourage members to nominate
companies that are eligible to enter
the Awards. For further information on
the Awards please visit www.austchamchina.com.
Also, for noting, discussions are taking
place on how best to leverage the
AustCham Greater China network in new
and interesting ways for the benefit of
members, particularly now that ChAFTA
is in place.
On behalf of my colleagues on the
Board, I wish all members and their
families a happy holiday season. I
offer my sincere thanks to you for
supporting your Chamber in 2014.
Special thanks to members who have
freely given their time and expertise
to AustCham via Committee work and
by helping to organise and coordinate
various functions and events. The many
successes in 2014 would not have
happened without your support.
January at a Glance…
Tue 20 Jan
Mix at Six
6:00pm – 9:00pm
Frites Wan Chai, Shop 6, 1/F, Causeway Centre,
28 Harbour Road, Wan Chai
Fri 23 Jan
Australia Day Lunch
12:00nn – 3:00pm
Ballroom, 5/F, Island Shangri-La Hong Kong,
Pacific Place, Supreme Court Road, Central
February at a Glance…
Mon 9 Feb
Joint Business Community Luncheon with
Hong Kong CE, Leung Chun-Ying (CY)
12:15pm– 2:00pm
Grand Hall, Hong Kong Convention and
Exhibition Centre Thu 12 Feb
Mix at Six
6:00pm – 9:00pm
Red Bar and Restaurant, 4/F, IFC Mall,
8 Finance Street, Central Hong Kong
MEMBER
CLASSIFIEDS
Australia Registered Tax
Agent in Hong Kong
Onwards and upwards together in 2015!
Richard Petty
[email protected]
Editorial Committee:
Drew Waters, Karen Wu
Printing:
Colour Max Commercial Printing Co. Ltd.
Tel: +852 2891 7917 Email: [email protected]
Holistic Business Consulting Pty Ltd.
Chartered Accountant
We specialise in tax planning for Australian
Expatriates, tax returns preparations, private
rulings for deductions.
www.myoztax.com
Call Tommy Ip on +852 69018136 or
email: [email protected]
Chamberchatter | 5
A word from Wellington
W
hat a great opportunity I have to
convey my warmest wishes for the
festive season, and to bid you all
the very best of health, luck, and success in
the year ahead.
2014 has been a significant year in the eyes
of the region, with successful APEC and G20 meetings
hosted recently, and the conclusion of negotiations of the
Australia-China Free Trade Agreement last month. This may
point to a very busy and interesting 2015 as Sino-Australian
businesses ramp up their involvement across multiple
business sectors, new opportunities are opened, and lasting
business relationships are forged. Hong Kong looks to be
in the forefront of this activity with its welcoming business
environment and ease of access, and we look forward to
assisting Australians in business to make the transition into
the Greater China market, and those local companies into
new opportunities opening in Australia.
In the short time I have been at this desk, I have met so many
of our members across the broad spectrum of Australians in
business in Hong Kong. I am constantly reminded of how
engaged Aussie expats are in their communities and business
environments, and none more so than the active members
of the committees within the Chamber. The exchange of
ideas, flow of information, and the drive which results in very
focused and informative events, is a key factor in keeping
the Chamber so effective. Thank you to all who have been
involved in Committee activity during the year.
Without the generous support of our sponsors and event
providers over the year, many of these events would not
have taken place, so I extend my thanks to those with long
standing relationships with the Chamber, and to those who
are new to our event sponsorship. Our Platinum Patrons
provide a highly valuable source of information and support
to the Chamber, and my sincere thanks got to you all. I look
forward to working closely with you in the new year.
The Chamber performs so well due to the enormous support
we receive from our Board of Directors, volunteers all, who
actively participate in, and contribute to, the success of this
organisation. As we move into 2015, I look forward to their
guidance and enthusiasm, and thank them heartily for their
contributions.
Merry Christmas to you all, and all the very best for the
New Year.
Drew Waters
Chief Executive
COMMUNITYCORNER
Food Angel – “WASTE
NOT, HUNGER NOT”
F
ood Angel is the first food rescue and
assistance program launched by the
Bo Charity Foundation in 2011 with the
ultimate mission of “Waste Not Hunger Not”.
The Food Angel team has been in effort to
rescue the edible surplus food items from
all segments of the food industries in Hong
Kong that are otherwise disposed of as
waste. Following strict set of food safety
protocols, these edible surplus food items are
prepared into nutritious hot meal boxes in
their two central kitchens and re-distributed
among the underprivileged communities
across Hong Kong by our logistics team.
Today, the program serves over 4,600
Free Hot Meals & Food Packs daily to
those who are in need of food assistance
and rescues over 4,000 kg surplus food
per day from going into their landfills.
To find out how you can help, please visit
www.foodangel.org.hk
Who To Blame?
The views expressed in this publication
are not necessarily those of the Australian
Chamber of Commerce in Hong Kong
and Macau, its members or officers. The
Australian Chamber of Commerce in Hong
Kong and Macau takes no responsibility
for the contents of any article or
advertisement, makes no representation
as to its accuracy or completeness, and
expressly disclaims any liability for any loss
however arising from or in reliance upon
the whole or any part of this publication.
AustCham is a non-profit organisation and provides this space free of charge to other, selected non-profits or charities.
6 | Chamberchatter
A letter from Canberra
- by Gai Brodtmann
A
s my first column for austcham news, I’d like to start by Parliament
has now risen for the year, and the final weeks of sitting were
spent continuing to debate Budget measures and reflecting on the year.
Post-Parliament, the Government backed down on its Paid Parental
Leave Scheme, which will be re-worked into an “holistic families
package”, with the details to be announced next year.
As Shadow Parliamentary Secretary for Defence, I’ve been prosecuting
the case against the Government’s 1.5 percent below inflation pay
offer to Australian Defence Force personnel. Australia’s servicemen
and women can’t negotiate their pay, and can’t take industrial action,
so the community has rallied behind them to ask the Government
for a fair pay deal. The father of an ADF member, Tony Dagger, has
produced a petition, which has more than 60,000 signatures and is
growing by the day.
The Government also backed down on its $7 GP tax. The tax will
not apply to concession card holders, children under 16, veterans
and pensioners. However, the Medicare rebate for other patients will
be reduced by $5 for each visit, with cost recovery at the discretion
of doctors.
Education Minister Christopher Pyne’s higher education package was
defeated in the Senate. A similar bill was introduced in the Lower House
and is yet to be debated. Despite that, the Minister’s department has
launched an advertising campaign selling the changes.
Meanwhile, the Senate passed a series of migration laws presented by
Immigration Minister Scott Morrison, which will introduce temporary
protection visas.
AustCham
Card
Membership e
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one big discount
DECEMBER
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all watches by using code HKACBA15 at
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with a distinctly Australian twist. Every Bausele timepiece contains real
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Spinel, on display through a high impact
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offering of luxurious quality.
*Terms and conditions apply.
From the Opposition’s point of view, 2014 has been about holding the
Government to account. In 2015, Labor will develop a new platform
at our conference in July and present a positive plan to take to the
Australian people at the next election. Our plan will outline our vision
for a smart, fair and inclusive Australia.
I’m looking forward to 2015, but as we draw to the end of 2014
wish you and your family a Merry Christmas and happy, healthy and
prosperous New Year. Most importantly, I wish you safe travels should
you be venturing from Hong Kong.
INDUSTRYINSIGHT | 7
Vacationing away from crowds – your bucket list
S
ometimes we just want to somewhere
remote, somewhere unique, somewhere
not everyone has been to. If you need
travel inspiration, a travel agent would be
able to help you plan your dream holiday.
Cecilia Yee of Platinum Patron Flight Centre,
suggested a list of places you can add into
your bucket list.
BHUTAN
The quiet country of Bhutan is home to some
of the rarest and most significant animals
in the world, animals such as the Golden
Langur or the Snow leapord. A visit to the
Motithang Takin Preserve will present you
with Bhutan’s national animal – the Takin, a
cross of cow and a goat. Take a hike along
the Taksang Monastery. Popularly called the
‘Tiger’s Nest’, the Monastery was where the
Guru Rimpoche meditated and founded the
Mahayana Buddhism. Don’t forget to taste
the Bhutan Cuisine before you leave. If you
haven’t tried the National Dish ‘Ema Datsi’
(Chilli and Cheese), you haven’t really been
to Bhutan at all.
CUBA
Cuba has become a favoured tourist holiday
destination. The country offers tourist to
explore a range of lifestyles, from urban
culture to rural excitement. The old town of
Havana has a complete different culture from
the rest of the country, since being founded
by Spain, and has American vehicles from the
1950s and an architectural heritage spanning
5 centuries ago. Cuba boasts many alluring
beaches and bays, where the Playa Ancón
beach offers white smooth sand and crystal
clear water. The local culture of Cuba is very
friendly, so feel free to dance along to the
music on the streets, and be prepared for
locals to challenge you to a dance-off.
FIJI
Fiji is a nature lover’s delight. The 330 islands
are packed with attractions, and has a unique
environment of extreme beauty. A hike in
Taveuni island will show you the full extent
of Fiji’s attractiveness. The island is full of
nature with rare orchids, prehistoric tree ferns,
pristine waterfalls and waterslides. Fiji is also
dubbed as the ‘Coral Capital of the World’.
Many tourists enjoy diving in its waters to
view the vibrant colours and various marine
animals. The culture of Fiji is a blend of
many others, and tourists can observe many
traditions and well preserved cultures. Go
to the Fiji museum in Suva and learn of the
country’s history through musical instruments,
cooking tools and war clubs. Witness a live
tradition on the island of Beqa. The island
has a traditional fire-walking festival where
tribesman walk over embers. A helicopter
ride over the Mamanucas is the best way to
end your trip, and grab a clear view of the
entirety of Fiji.
LAOS
Laos is one of the few truly exotic travel
destinations, yet it is left rather unexplored.
But those who explore Laos will understand
its secret charm. The most prominent tourist
destination is Luang Prabang, the UNESCO
world heritage site. All along the small town
of Luang Prabang are excellent examples
of traditional architecture and Lao urban
Business Excellence
C
orporate Member Allied Pickfords recently received
an APAC Expatriate Management and Mobility Awards
(EMMAs) from the Forum for Expatriate Management
(FEM).
Allied Pickfords won “International Moving Company of the
Year” for its use of technology and strong communication,
emphasis on social responsibility and employees, and
structures. There are numerous religious
constructions all around. The Phra That Luang
Temple is Laos’s National Symbol, and has
several terraces to represent different levels of
Buddhist enlightenment. The Wat Si Saket is a
beautiful temple that is home to 2000 Buddha
statues of different structure. A trip to Laos
must also include a cruise along the Mekong
River to view different parts of local culture,
and grab a fantastic view of the sunset.
MONTENEGRO
On the coast of the Adriatic Sea is the
world’s first ecological state – Montenegro.
The country is a land of natural beauty with
many scenic views. The best place to see
this is in Lovcen National Park and Njegos
Mausoleum. There is some exquisite nature
within the National Park, and the Mausoleum
is built above Mount Lovcen. At the very
peak you will be able to grab a breathtaking
panoramic view of the entirety of Montenegro.
Visit the many museums and monasteries
along Cetinje, especially the Ostrog Monastery
that requires a heart-stopping drive up the
mountain. Explore the two small towns of
Kotor and Perast. Kotor being a charming
old town with a bustling harbour with a
fortress that looks over town, and Perast
having a beautiful beach with some low-key
beachside bars.
To secure exclusive deals, look for excellent
recommendations, contact Platinum Patron
Flight Centre on 2830 2866 or visit www.
flightcentre.com.hk
- Content provided by Flight Centre.
CorporateNEWS
continues to be a solid and professional contributor to the
international moving industry. This is the second consecutive
year which Allied Pickfords has won this title.
The Forum for Expatriate Management hosts the EMMA awards
annually to recognize excellence in global mobility. The awards
are independently judged by highly esteemed leaders in the
mobility industry.
8 | HONG KONGFOCUS
I
China Links Stocks in Hong Kong and Shanghai
in Landmark Capital Reform
nvestors from Australia and the rest of the
world gained unprecedented access to
shares in Chinese companies in November
through a pilot programme linking the Hong
Kong and Shanghai stock exchanges. The new
scheme, known as the Shanghai Hong Kong
Stock Connect, has been hailed as a landmark
in China’s long, slow march to liberalise
its capital markets and internationalise its
currency.
Under the programme, which launched on
November 17, institutional and retail investors
from Australia and the rest of the world can
now trade 570 Shanghai-listed A shares directly
from the Hong Kong Stock Exchange. Going in
the other direction, approved investors from
the Mainland can trade 270 Hong Kong-listed H
shares through the Shanghai Stock Exchange.
All trades will be settled in RMB and subjected
to regulators in both jurisdictions. To facilitate
trading in RMB, the government has removed
the daily conversion limit of 20,000 RMB for
Hong Kong residents.
unique position as
the financial super
highway between
Mainland China and
the rest of the world
The Chinese Government said it would move
in a “progressive and risk-controllable” manner
as it trials the scheme. As well as limiting the
total number of participating companies, it
has also placed strict quotas on the value of
shares able to be traded. The northbound link
- Shanghai shares purchased in Hong Kong has a daily trading limit of RMB 13 billion. The
total cumulative quota for northbound trades
is RMB 300 billion. Quota is returned to the
David Gilmour of Deloitte.
Alwyn Li of Deacons.
pool when stock is sold. For the Southbound
link - Hong Kong shares purchased in Shanghai
- the daily limit is RMB 10.5 billion and the
total quota is RMB 250 billion.
The scheme follows the familiar pattern for
China of using Hong Kong as a testing centre
for reforms. Hong Kong Financial Secretary
John Tsang, who was in Australia when stock
connect went live, told the Sydney China
Business Forum that the city was in a “unique
position as the financial super highway
between Mainland China and the rest of the
world”.
“We play a unique role in contributing to our
nation’s financial reform by serving as the
laboratory of new reform measures, as well as
functioning as the firewall to shield Mainland’s
nascent financial market from the volatility in
the international arena,” he said.
He predicted that stock connect would bring
“unprecedented opportunities to the financial
world”.
“One senior Western banker recently described
it as the single most important development
in China’s intention to internationalise this
market,” he said.
Tsang and the unnamed banker were not
alone in their enthusiasm for stock connect.
In the month before the launch, the SSE180
Index and the SSE380 Index — the two main
Chinese destinations for foreign investments
through the scheme — were up 10 percent and
6.5 percent respectively on the expectation
of a large influx of foreign money. Hopes for
the southbound stream were more tempered
because relatively few investors had been
approved.
The buzz around the northbound stream
seemed warranted on launch day when
investors snapped up the full daily quota
before 2pm. But that
enthusiasm has
given way to caution
as investors and
brokers take time
to size up the new
offerings. Over the
first three weeks
of trading the
northbound stream
was filling an average
of between 10 to 20
Chris Xing of KPMG.
per cent of the quota.
Just because you
can trade doesn’t
mean that people
understand all the
companies
In early December, AustCham hosted a seminar
to help members evaluate the benefits and
uncertainties from the first three weeks of
trading. David Gilmour, a partner in financial
services consulting for Deloitte, said that
brokers and investors still needed time to
educate themselves about new companies,
regulations and tax implications.
“It takes time,” he said. “Just because you can
trade doesn’t mean that people understand all
the companies.”
One of the big uncertainties had surrounded
whether investors in Hong Kong would be
subjected to Chinese capital gains tax. This
issue was dealt with less than 72 hours before
the stock connect opened when China’s Foreign
Ministry said it would waive the tax for now.
It remained unclear how long that exemption
would last.
Alwyn Li, partner at law firm Deacons, said
unanswered questions about share ownership
had also been a drag on trading. He said
China’s reporting system made it difficult to
establish beneficial ownership because the
actual owner’s name did not appear on the
shares or in a share registry.
“It’s still unclear who the stocks belong to,”
he said.
He said many big European fund managers
were eager to begin investing in mainland
stocks but were remaining on the sidelines
until this situation became clearer.
Although take up has been slow, there is
an expectation that if trading picks up the
program will be expanded with higher quotas
and more stocks becoming available. The
Shenzhen Stock Exchange has also reportedly
begun exploring setting up a similar program.
- Michael Wray
CommitteeCOMMENT | 9
You can’t afford to take a rain check on your customer
engagement strategy and data governance
W
e all know that engaged customers
are usually better advocates of
the brand and are more loyal and
profitable. Most businesses connect with
customers through the work of marketing,
sales and customer service departments.
However, up until recently, most businesses
were not actually engaging with the customer,
and instead have been disengaging for close
to a decade in order to lower costs according
to recent research by Gartner Inc (2014).
Some of the symptoms we witness in
the Hong Kong market to support this
observation include;
•
Everyone is charging simular rates for
products and services
•
Paper-based processes to support
customer interaction are still abundant
•
Long call queue times on customer
service lines compared to new sales
lines
•
Saturation of irrelevant, non-targeted
direct marketing correspondence across
multiple channels (print, phone, email)
•
Lack of data governance and managing
customer data as an asset
The challenges businesses face today is
how to leverage the knowledge of their
customers more effectively whilst bridge the
gap between business and technology at
the same time to achieve better customer
engagement without breaking the bank.
Customer engagement needs to be rooted
in a wider cross-enterprise reconsideration
of engagement, involving how employees,
partners and customers engage. Measuring
the level of engagement itself is complex and
requires examining the active, emotional,
rational and ethical attributes that determine
the organisation’s brand and values.
Increase Active Customer Engagement
Through Social, Mobile and Traditional
Channel Alignment
Being active requires activity, yet many
businesses have been attempting to reduce
the activity required to engage with customers
to lower their costs. An actively engaged
customer is more willing to participate with
the organisation through multiple different
channels, ranging from online self-service
tools or a mobile application to community
participation or user group involvement. They
are more willing to provide feedback when
asked, make best use of the products or
services on offer, and make suggestions on
how to improve them. From the organisation’s
perspective, active engagement requires
changes to people, process and technology.
Processes can be modified to make them
more flexible, timely, reliable, thorough,
accessible and personal, while technology
can be introduced to encourage participation
and better customer experiences.
Build Emotional Customer Engagement
Through Transparency and Trust
Emotional engagement is built up from
multiple factors and is often a more
powerful influence than rational/physical
elements in how a customer engages with
an organisation. The emotions associated
with owning a product or using a service and
with the interactions customers have with the
organisation are of key importance.
Customer satisfaction surveys have been
used for decades in an attempt to detect and
quantify emotions related to happiness and
unhappiness. It is clear that those customers
who are emotionally engaged are more likely
to complain less, compliment more, buy more
and contribute more than those who are not.
Another key factor is how organisations
use, or more likely misuse, customer data.
By respecting customers’ privacy rather
than bombarding them with inappropriate
campaigns, organisations can elevate trust
and engagement. Allowing customers to
access the personal data held and giving
them the ability to set controls on what
data can be used puts them in a position of
control and makes them more at ease with
their provider. It also provides a facility to
keep customer data current and accurate.
Gain Ethical Customer Engagement Through
Demonstrated Commitment to Fairness
With Employees, Partners, Customers and
Community
Ethical engagement explores the deepest
values and meanings by which people live.
The organisation has a published framework
that discusses how it views its responsibilities
to employees, partners, customers, suppliers,
the community and the world.
In the past, ethical engagement has been
somewhat optional. If you are not ethical in
your actions but you don’t get caught, then
no harm would have been done. The problem
now is that with billions of social media users
across the world, organisations can no longer
hide their ethical misdemeanors.
Leverage your Customer Data more
effectively through disciplined Data
Governance practices
Data quality improvement and assurance are
no longer optional activities. For example,
the 2002 Sarbanes-Oxley Act requires, among
other things, that a business should be able
to attest to the quality and accuracy of the
data contained in their financial statements.
Obviously, the classical “garbage in—
garbage out” expression is still true, and no
organisation can report high-quality financial
data if the source data used to produce the
financial numbers is of poor quality.
The value of improved data quality is almost
self-evident, and includes factors such as
the enterprise’s ability to make better and
more accurate decisions, to gain deeper
insights into the customer’s behavior, and to
understand the customer’s propensity to buy
products and services, the probability of the
customer’s engaging in high-risk transactions,
the probability of attrition, etc.
Hong Kong businesses are faced with many
key decisions that influence and determine
their future. Cost cutting does not necessary
mean we need to go without, it means we
need to work smarter to achieve a better
outcome. It also means we need to revaluate
whether a particular sales, marketing or
customer service activity should make way for
another innovative way to achieve a greater
potential for ROI and customer satisfaction.
- Article contributed by AustCham Business
Technology Committee Member Peter
Lammer. Peter is also the Director of
Consulting Asia with RXP Services.
10 | MEMBERPROFILE��
Headquartered in Hong Kong since 1975, Leighton Asia delivers a portfolio
of high-profile construction and civil infrastructure projects throughout Asia.
We currently employ around 20,000 people in Hong Kong, Indonesia, India,
Iraq, Macau, Malaysia, Philippines, Singapore and Thailand.
Leighton Asia, India and Offshore
39/F Sun Hung Kai Centre,
30 Harbour Road, Hong Kong
www.laio.com
Key chamber representative:
Leigh Stewar t, Executive
General Manager – People,
Leighton Asia
Why did you join Austcham as a Platinum
Patron?
As a prominent Australian company and a
large employer in the region we felt it was
important for Leighton to have a strong and
visible presence with the Chamber. Becoming
a Platinum Patron was our way of ensuring
that we not only support Australian business
interests but that we can shape and influence
the debate on issues of importance to
employers in Hong Kong and Macau.
Which Committee are you sitting on and how
is it beneficial to you?
We have representation both at a Board
level and also at a committee level. We
currently have our people actively involved
in the Construction, Property & Infrastructure
Committee as well as the Sustainable
Development Committee. Through these
forums we are able to keep abreast of current
issues and share our perspective on doing
business in the region with the Chamber
executive.
What does your company do really well?
In addition to tunnel, rail and road networks,
Leighton Asia delivers turn-key renewable
energy infrastructure including utility-scale
wind farms, geothermal energy and wasteto-power installations. Our construction
projects range from schools to luxury
highrise residential and leisure complexes,
a growing number of which are built to
international green building and energy
efficiency standards.
What’s something most people don’t know
about your company?
Most people don’t know that Leighton Asia
designed and installed Mongolia’s first utilityscale wind farm and the world’s largest Wasteto-Power facility. Mongolia’s 50-megawatt
‘Salkhit’ wind farm is a source of national
pride as the country looks to harnessing its
significant wind resource to provide a clean
alternative to coal-fired power stations. Hong
Kong’s 24-megawatt waste-to-power facility
is the largest of its kind in the world and
provides the city with both a clean energy
and waste management solution. Leighton
is proud to be behind these sustainable,
landmark projects.
What’s your company’s connection to
Australia?
Our parent company, Leighton Holdings,
was founded in Australia in 1949 and has
been listed on the Australian Stock Exchange
since 1962. Leighton Holdings is the parent
company of the Leighton Group, one of the
world’s leading international contractors and
the world’s largest contract miner. Combined,
the Group directly employs nearly 50,000
people actross 20 countries.
How would you describe your workplace and
colleagues?
Ou r w o rk p l a c e i s a p owe r h o u s e o f
professionalism. I am fortunate to be
in the company of highly professional,
dedicated, energetic, results-driven people
who are passionately committed to delivering
excellent projects.
CorporateNEWS
Raise for the Kids
T
he HUB HK celebrated its 3rd Annual Ball in November in
the The Grand Hyatt Ballroom. Nearly 400 people enjoyed
the wonderful evening with fine food, a little wine, wild
dance and generous donating, with their special VIP guest Ms
Carrie Fisher, of Hollywood fame.
The highlight of the evening was a dance performance by
some of their younger members. Months of hard work and
practice paid off with a spectacular show that truly wowed
the whole room.
The Hub HK thanks their supporter, “If we needed reminding
of why we were all there, this did the trick – its for the kids;
and we were able to raise over $2.5 million on the night to do
just that. A big thank you again to all who attended, donated
and supported the evening.” 12 | Committeesin action��
AustCham Young Executives:
Women on Boards
T
he AustCham Young Executive (AYE) hosted their
8th CEO Forum at Herbert Smith Freehills offices
in Central in late November. This forum discussed
‘Women on Boards’ and guest speakers included Fiona
Nott, Governance and Compliance Consultant and
Director (Non-Executive) of Aesop Hong Kong Limited
and AustCham Board of Director, as well as Yvonne
Murayama, COO of King & Wood Mallesons.
The room was undoubtedly a sold out success.
Testament to the theme of the event, there was most
certainly a strong force of females in attendance. Fiona
and Yvonne both spoke of the challenges females
encounter when rising to a senior level position and
how individuals can carve their way to success in their
chosen careers.
They both discussed the importance of showcasing
the hunger, passion and drive when meeting with
prospective employers. That is what sets you apart from
other contenders. You need to cultivate your vision and
have the strong desire to succeed.
CHAMBER'SVOICE
A
dam McKissack, Senior Treasury representative at the Australian Embassy
in Beijing, Lachlan Crews, Counsellor (Economic) at the Australian
Embassy in Beijing and Andrew Whitford, Head of Greater China and Head
of Hong Kong Branch, Westpac met with AustCham Board Directors, Platinum
Patrons and FLT Committee for an interactive private luncheon to discuss the
challenges and opportunities resulting from the China-Australia FTA.
personal career path. Being a foreigner in Hong Kong, this can sometimes
prove difficult however the AustCham host a mentorship program where
protégés are able to learn from a driven executive.
The AYE will continue to host their successful CEO Forum series throughout
2015. We look forward to welcoming you at the next event.
It was highlighted that seeking professional advice from - Lauren Zervos, Global Marketing & Client Development Manager at Racepoint
a mentor can also prove valuable when carving out your Global
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OnTHE SCENE | 13
A U S T C HAM H O S T E D A
B R E A K FA S T S E S S I O N F O R
NATIONAL AUSTRALIA BANK
CHIEF ECONOMIST ALAN OSTER
AT AMERICAN CLUB.
SPECIAL THANKS
TO OUR EVENT
SPONSOR:
Guest speaker Alan Oster with Paul Belcher of
Madepartners.
Andrew Blinco of OBE Beef Pty Ltd, Malcolm
Begbie of Crossroads International and Rob
Schlipper of Outpac Designs.
Arun Nangia of Event Sponsor National Australia
Bank, Arthur So of Infinity Technology with
AustCham Board Director Fiona Nott.
-Industries
Ambrose Lam of COFCO China Agri
onal
Nati
of
Holdings with Patrick Vizzone
k.
Australia Ban
Malcolm Prebble of KPMG and Greg Elliott of
CLSA Ltd.
NOVEMBER MIX AT SIX WAS AN OUTDOOR PARTY HELD AT AZURE ROOFTOP, LKF HOTEL. TNANK YOU TO
OUR LUCKY DRAW PRIZE SPONSORS AND VENUE PARTNER ON THE NIGHT.
Damian Walsh of DB Results, Jolene Wee of
National Australia Bank and Bradley de
Souza of Telstra.
Darren FitzGerld of FitzGerald Lawyers and
Jennifer Dax of FIL Asia Holding Pte Ltd.
Lucky draw winners Dana Hooshmand,
Candice Chan and Darren Iloste with Prize
Sponsor Ian Robinson.
Zed Kirfer of Zedstarr Promotions, Anthony
Chow of CWL Partners, Jemma Rowe of Savvy
and Peter Dimbrowsky of iSentia.
d Thorn of
Nick Baber, Callum Kerr and Davi
National Australia Bank.
Jenny Liu with Elisha Vincent of
Macquarie Group.
14 | OnTHE SCENE
OVER 200 GUESTS JOINED OUR END-OF-YEAR PARTY, CHRISTMAS MIX, AT THE BEAUTIFUL GARDEN LOUNGE
IN HONG KONG CLUB ON 10 DECEMBER. SPECIAL THANKS TO ALL THE PRIZE SPONSORS ON THE NIGHT!
Mark Brazier with John Marsden of
Mayer Brown JSM.
Carolyn Wong and Lauren Zervos of
Racepoint Global.
AustCham Board Directors Melanie
Nutbeam and Alan Johnson.
Mike Mallin of Hill Dickinson HK LLP and
Christine McGee of Orient Aviation.
Alana Lam and Matthew EgertonWarburton.
Hamish Street, Victor Pak and Andrew
D’Azevedo of PwC.
Peter and Michelle Shiers.
Kong & Macau
Australian Consul-General Hong
PCF Capital.
of
on
Bens
or
Trev
with
e
Tigh
Paul
Yamin Thiri Zaw and Kevin
O’Shaughnessy.
Charmine Fong and Daniel Lee of National
Australia Bank and Henry Chan of
Commonwealth Bank.
Robby Nimmo and David Gilmour
Deloitte.
of
Annette Steadson with Tanya Dillon of
MGSM and Doug Fraser of Australia Plus.
AustCham Young Executive Co-Chair Julia Broughton of The Three Marketeers
Alex Oxford with Becci Walker of Speak. and Jane Bourke of Telstra.
OnTHE SCENE | 15
Lizzie Fraser of Cellarmaster Wines and David
Bojan of HFS Asset Management.
Congrats to all the lucky draw winners on the night!
Catherine Graham of Telstra with
Melissa Shadforth.
Gina Agresti,
Jan Lynch, Rebecca Lucas, Merylin Glowrey
and Adam Hopkins of Telstra.
CR-AmCham bizHK Supplement-ol.indd 1
7/8/2014 3:39:17 PM