Issue 11 / July 2014

Deloitte Alumni NewsBound by excellence

Feature story•SocialProgressIndex2014:Economicgrowthdoes“notautomatically”leadtosocialadvancement

Around the region•8reasonsSoutheastAsiaispoisedtogrow•DeloitteGlobalTaxConference2014•ForecastingthebiggesttrendsinTMT

Deloitte Singapore highlights•CPAAustraliahonoursChalyMahwithLifetimeAchievementAward

•DeloittewinsbigatSingaporeHRExcellenceAwards2014

•BuildingeminenceamongSoutheastAsia’sleadingbusinessfamilies

•HonouringAsia’stopentrepreneursattheChannelNewsAsiaLuminaryAwards2014

Welcometoissue11ofDeloitteAlumniNews.

TheDeloitteSingaporeAlumniprogrammeprovidesagatewayintothethrivingDeloitteAlumnicommunity,wherefriendsandformercolleaguesstayintouch,buildrelationshipsandstrengthenties.Thisquarterlynewsletterhelpskeepyouup-to-datewiththelatestDeloittenews,programmesandeventsbothintheregion,andglobally.

Highlightsinthisissueincludethefindingsfromthe2014SocialProgressIndex,thebiggesttrendsintheTMTindustry,anumberofawardswonbyDeloitteandourSingaporeLions’debutperformanceintheDeloittePragueCup2014.

Social news•DeloitteSingaporedominatesatthe2014JPMorganCorporateChallenge

•DeloitteLionsmaketheirdebutattheDeloittePragueCup2014

Industry updates•AsiaPacificTaxComplexitySurvey2014•AsiaPacificEconomicOutlookreports•AsiaPacificDbriefs•GlobalEconomicOutlook–Q2•GlobalPowersofRetailing2014

Alumni matters•ConnectwithusonLinkedIn

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Economicgrowthdoesnotalwaysresultinsocialprogress,asthefindingsoftheSocialProgressIndex(SPI)2014show.TheSPI2014ranks132countriesbasedontheirsocialandenvironmentalperformance.HigherGDPpercapitadoesbringbenefits,particularlyon‘BasicHumanNeeds’.Butrisingincomesdonotguaranteeimprovementon‘EcosystemSustainability’,‘HealthandWellness’and‘Opportunity’.

TheSPI,createdbyateamledbyProfessorMichaelE.PorterofHarvardBusinessSchool,isdesignedasacomplementtoGDPandothereconomicindicatorstoprovideamoreholisticunderstandingofcountries’overallperformance.DeloitteToucheTohmatsuLimitedisaco-supporterofthisIndex.Thetoprankingcountriesfor2014sawasurprisewithNewZealandtoppingtheIndexaheadofSwitzerland,Iceland,theNetherlandsandNorwaywithtraditionaleconomicpowerslikeGermany(12th),theUK(13th),Japan(14th)andtheUnitedStates(16th)farbehind.

SoutheastAsiacountriesrankedinthisindexareMalaysia,Philippines,Thailand,Indonesia,LaosandCambodia,ranking45th,56th,59th,88th,98thand100threspectively.

Feature storySocial Progress Index 2014: Economic growth does “not automatically” lead to social advancement

Key global highlights include: •NewZealandisthisyear’stopperformingcountry.•TheNetherlandsisthebestperformingcountryinEuropeanUnion.

•CanadaisthebestperformingG8country.•SloveniaandEstoniaareEurope’sbigsuccessstory,scoringbetterthanFrance,SpainandItaly.OfthebigEUcountriesItalyisabigunder-performer,alsocominginbehindformerSovietbloccountriessuchastheCzechRepublic,SlovakiaandPoland.

•CostaRicaandUruguayarethestarperformersinLatinAmerica.

•BrazilisthetopoftheBRICS,followedby:SouthAfrica,Russia,China,andIndia.

•ApartfromBrazil,theBRICsareallsignificantunder-performersonsocialprogress,suggestingthat,forChinaandIndiainparticular,rapideconomicgrowthisnotyetbeingconvertedintobetterlivesfortheircitizens.

Surprising rankings: •TheUnitedStatesfinishes16thbehindCanada(7th)andtheUK(13th).TheIndexidentifiesawiderangeofareasinwhichtheUnitedStatesis“consistentlyunder-performing”comparedtocountrieswithacomparableGDPpercapita,accordingtoMichaelGreen,ExecutiveDirectoroftheSocialProgressImperative.

•Russiaranked80thintheIndex,belowtheUkraine(62nd)andGeorgia(66th).

•Indiaranked102ndontheIndex,belowBangladesh(99th)andSriLanka(85th).

The top five:1.New Zealand–scoresparticularlywellonpolitical

rights,accesstomoderncommunicationsandschoolenrollment.ThisachievementisparticularlyimpressivegiventhatNewZealand’sGDPpercapitais$25,875*(just25thglobally).

2.Switzerland–scoreswellonecosystemsustainability,personalsafety,lifeexpectancy,andreligiousfreedoms.

3.Iceland–scoresconsistentlywellacrossallcategories,particularlyontoleranceandinclusionandonaccesstoinformationandcommunications.LikeNewZealandthisresultisimpressive–over-performingagainstitsGDPpercapitaof$33,880*(13thglobally).

4.Netherlands–scoreswellonwaterandsanitation,accesstoinformationandcommunications,ecosystemsustainability,andpoliticalrights.

5.Norway–scoreswellonpersonalsafety,internetusers,pressfreedoms,andbasicmedicalcare.

Ofparticularinterestinthisyear’sSPIreportisthePhilippines.Thecountryranks56th,aheadofeconomicpowerhouseslikeRussia(80),China(90)andIndia(102).Thisisimpressivegiventhatthecountry’sGDPpercapitaranks90thoutofthe132countriesfeaturedinthesurvey.But,canthePhilippinesreallycelebrate?DeloitteSoutheastAsia’sDeputyClients&MarketsLeader,JamesWalton,sharesmoreinhisarticletitled“ThePhilippines:firstamongequals?”

FormoreinformationontheSocialProgressIndex,clickhere.

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Around the region8 reasons Southeast Asia is poised to grow

1) China reforming: outlook is “short term pain, long term gain.”PresidentXiJinpinghasmadeclearheislookingformoresustainablegrowthandmoreinclusivegrowthandthiswillnecessitatesomereconfiguring.Forexample,geographicdiversificationofindustrywithinthecountrymeanspushingmoreindustrywestwherelabourcostsmaybecheaperbutlogisticalcostsoftransportinggoodswillbehigher(thanincoastalcities).Also,PresidentXiJinpinghassaidhewantstorestructureChina’sstate-ownedenterprises(SOEs)butChalysays“they’renotreadytocompete”toglobalstandardsandthiswillbealengthyprocess.Chalypointsoutthatduringtheglobalfinancialcrisisin2008,theChinesegovernmenttoldthebankstoputmoneyintothesystemwhichwounduplargelyinthe

handsofSOEsandrealestateinvestments,bothnowareasrequiringreformsalongsidethenon-performingloans(NPLs)situation.Thisallsaid,whileChinawillhavesomelumpinessthatwillbefeltthroughtheregion,China’slong-termoutlookwillbebetterifPresidentXiJinpingsucceedswithhisagenda.

2) Japanese companies geographic expansionAknockoneffectofChina-JapanpoliticaltensionscombinedwiththeChineseslow-downisthatJapanesefirmsarediversifyingawayfromChinaasopportunitiespresentthemselves.JapanesebusinessesthatwouldpreviouslyhaveopenedanotherfactoryinChinaarenowmovingtoVietnam,Thailand,IndonesiaandmorerecentlyMyanmar.DeloittehasjustsetupanofficeinMyanmarthisyearandrapidlyrecognisedthataJapanesespeakerwasneededonstaff,andthenrealisedthatonewasnotenough,andnowhastwo.

3) Manufacturing rotationWithmanufacturingcostsmovinghigherinChina,anumberofcountrieswithcheaperlabourcostsarebenefitting:Indonesia,Cambodia,Vietnam,BangladeshandMyanmar.Allofthesecountrieshavelargepopulationswithyoungworkingpopulations.Forskilledlabour,thisismigratingtoIndonesiaandthensometothecheaperVietnam.Bangladeshhaspredominantlybecomeagarmentcentre.Myanmar,whichisonlyrecentlyopeningup,promisestoprovideanewcentreofcheaplabour.

ChalyMah,CEOofDeloitteSoutheastAsiaandRegionalManagingDirectorofDeloitteAsiaPacific,sharedhispan-AsiainsightswithForbesAsiaJournalistJonSpringeratthe2014MilkenInstituteGlobalConferenceinLosAngeles,California.Theinterview,firstpublishedonForbes.comon29April2014,highlights8reasonswhyChalythinksthatSoutheastAsiaispoisedtogrow:

Feature story

The Philippines: first among equals?

James Walton, Deputy Clients & Markets Leader – Deloitte Southeast Asia

SoshouldthePhilippinescelebrateornot?Ataheadlinelevel,thecountryonlyranked56thoutofthe132coveredinthe2014SocialProgressIndexandfindsitselfinthecompanyofanumberofAfricanandrelativelypoorEasternEuropeancountries—yetitisstillaheadofASEANpartnersThailandandIndonesiaandfaraheadofeconomicpowerhouseslikeChina,RussiaandIndia.

Indeed,thePhilippines’overallrankingof56thgreatlyoutstripsmanymoreaffluentcountries,astheaverageFilipinoGDPpercapitaranks90thoutofthe132inthesurvey.

However,thereisabigvarianceacrossthePhilippines’performanceratings:arankingof39thoverallinOpportunityreflectstheveryhighleveloffreedomaffordedtothepopulationandtheeaseofaccesstohighereducation.Butmoreconcerningistherankingof81stinBasicHumanNeeds,whichincludesnecessitieslikesanitation,healthcareandpersonalsafety.

ThePhilippinesisgenerallyontargettoachievetheMillenniumDevelopmentgoals–inlinewithPresidentAquino’s“SocialContract”withthepeople—butwillneedtoupitseffortstoreducepoverty,increaseemployment,improveaccesstobasiceducation,

enhanceinfrastructureanddevelophealthcarefurther.Thelaunchin2011ofthe5-yearPhilippineDevelopmentPlan,whichfocusedondeliveringequalaccesstoallofthese,wasagoodstart;howeverarecentOECDreportpointedtoongoingproblemsininsufficientinvestment,misallocationoffundsandpoorprojectmanagementincertainsectors.Moreworryinglyitpointedtoafundamentalmismatchbetweengraduates’skillsandtheneedsofthekeyindustries,perpetuatingtheemploymentchallenge.

MuchoftherecentdevelopmentinareaslikeeducationandhealthcareinthePhilippineshasbeenduetotheprivatesector.ButbothpublicandprivateinvestmenthasnotbeenabletokeeppacewiththeGDPgrowth,asinrecentyearsthepublicsectorhasbeenconstrainedbyseriousfiscalpressuresduetolowtaxrevenuesandhighdebtsandtheprivatesectordoesnotseetheimmediatebenefits.

ForthePhilippines,thisyear’scomparativelyhighrankingisaboonbutthechallengesthatfacemanydevelopingcountriesremain.Aslongasgovernmentinvestmentremainscomparativelylow,thecountrymaystruggletosustainitseconomicgrowthandsocialprogressUltimately,inacountryof‘haves’and‘have-nots’,progresswillneverbetrulyinclusiveuntilthepublicandprivatesectorsworktogethertotackletheissueshead-on.

PHILIPPINES

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4) Trans-Pacific PartnershipTheTrans-PacificPartnership(TPP)beganasafreetradeagreementbetweenBrunei,Chile,NewZealandandSingapore.Subsequently,ithasbroadenedwithAustralia,Canada,Japan,Malaysia,Mexico,Peru,VietnamandtheUnitedStatesjoiningatthenegotiatingtable.Withatleastanothereightcountriesexpressinginterest,theTPPhasthepotentialtobecomeabroadfreetradeagreementbetweenmanycountries.Howeverthequestionremainshowlongitwilltaketocomplete.WhilemuchhasbeenmadeofChinanotbeingapartytoTPPnegotiations,Chalythinks(a)ChinaalreadyhastradeagreementswithASEANcountriesthatwillgiveitabackdoorintotheTPPtradearenaand(b)thatiftheTPPisinfactestablishedandeffectivethatChinawillpushforandgaininclusion.

5) ASEAN Economic CommunityTheASEANEconomicCommunity(AEC)aimstoemulatethesuccessesoftheEuropeanUnion’saspectsoffreetradeandcloserrelationshipswhileavoidingthepitfallsoftheEuropeanUnionsuchasacommoncurrency.TheAECwillincludethetenASEANcountriesofBrunei,Cambodia,Indonesia,Laos,Malaysia,Myanmar,Philippines,Singapore,ThailandandVietnam.ThetargetdatetolaunchthiscommunityisDecember31,2015.WhileChalythinkstheymaynotgeteverythinginplacebythenastheywouldhope,thereshouldbeatleastoneortwopiecesoftheeconomiccommunityplaninplacebythentolaunch.

Thiswillcreateacommunityofabout600millionpeople,about100millionpeoplelargerthantheEUorapproximatelyhalfofthepopulationofeitherChinaorIndia.Chalyforeseesthisbecominga“verypowerfuleconomicarea”thatshouldbenefitallmember-states.

6) Corporate and public debtConcernswereexpressedearlierinthedayatMilkenInstituteGlobalConferencethatthelowrateenvironmentinglobalcreditmarketshascovereduptheneedforeconomicreformsinemergingeconomies.ChalymakesacounterpointtothisthatthelevelofcorporatedebtinAsiatodayislessthanimmediatelyprecedingthe1997Asianfinancialcrisis.Fromthestandpointofpublicdebt,Chalywouldseepointsofconcernincountriesthathavepublicdebtthatis50%ofGDPorgreatersuchasisfoundinVietnam,Malaysia,India,thePhilippinesandJapan.ChalyseesSingapore,HongKong,ChinaandIndonesiaamongthoseonsecurefootingwithlowdebttoGDPratios.

7) The Vietnam exceptionVietnampresentsaspecialcase.ChalyflatlystatestheNPLsituationinVietnamisfarmoreseriousthanthatofChina.ThegovernmentofVietnamhasadmittedthatitdidmismanageitseconomyandhasbeenmakingeffortstofixthings.WhileitlookslikeVietnammaybeturningacornerafterachallengingperiod,theoverhangoftheNPLsisstillinplayandremainsinsufficientlyresolvedbythegovernment.

8) Projecting growth and winnersTheIMFprojectsthatAsiaistheregionthatwillhavethefastestGDPgrowthoverthecoming5years.ThethreeeconomiesChalyhasthemostpositiveoutlookforintheregionarethePhilippines,IndonesiaandMyanmar.ChalywasrecentlyinthePhilippinesandcameawaynotingpeopletherearebullishandfeelverygoodaboutwheretheeconomyisgoing.ThePhilippinesGDPgrew7%lastyearandChalyseesthepotentialforthePhilippinestoregainitsstatusasaneconomichubiftheycan“fixtheirpolitics.”

Indonesia’spromiseisalargemiddle-incomeyoungpopulationinacountryof250millionpeoplewith5%GDPgrowth.ChalyacknowledgesthatMyanmarisa“higherriskhigherreward”prospect.InMyanmarmuchhingesontheresultsofnextyear’selections.ChalyforeseespoliticalriskbothifAungSanSuuKyi’spartywinsorloses.Ifsheloses,therewillbedisappointmentfromthewest.Ifshewins,itisunclearthatthereisenoughdepthinherpartytobeabletorunthecountry.

Around the region

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Deloitte Global Tax Conference 2014: Risk, uncertainty and opportunity in a changing tax landscape

SingaporehostedtheannualDeloitteGlobalTaxConferenceforAsiaPacificfrom9to11April2014attheRitzCarltonHotel.Morethan370clientsandDeloitteparticipantsgatheredtodiscusstherisks,uncertaintiesandopportunitiesintoday’schangingtaxlandscape.

Thethree-dayeventsawanumberofplenaryandbreakoutsessionsaddressingkeytopicssuchasBaseErosionandProfitShifting,howtobettermanageataxfunction;andalsotheresultsofthisyear’s2014 Deloitte Asia Pacific Tax Complexity Survey Report,whichhighlightskeytaxtrendsfacingbusinessesoperatingintheregion.

OneofthemainhighlightsoftheconferencewasadialoguesessionbetweenDanLange,Deloitte’sGlobalManagingDirectorofTaxandLegal,andGuest-of-HonourSingapore’sForeignAffairsandLawMinisterKShanmugam.

Duringthesession,MrShanmugamurgedSingaporebusinessestogoforqualitygrowthtotacklethechallengeofgrowingmanpowerconstraints.HealsoaddressedquestionsaboutSingaporebeingseenasa‘taxhaven’andsaidthatSingaporehasafundamentallycleansystem,withrobustsafetymechanismstoprotectagainstmoneylaundering.MrShanmugamalsoexpressedhisbullishoutlookonregionalintegrationeffortsthroughtheASEANEconomicCommunityandcommentedthatalthoughsignificantdiversitywithinthegroupingmayposechallengesinthenear-to-mediumterm,theeconomicpotentialforintegrationissubstantial.

Inapost-eventinterviewwithTheStraitsTimes,Singapore’sleadingdailynewspaper,Deloitte’sDanLangepointedoutthatlocalcompaniesneedtoensuretheirtaxsystemsarereadyfortheglobalstage.Hesaid,“Inaperfectworld,thetaxlawswouldbealignedbetweeneachcountryandcompletelyinsync.However,countriestendtohavedifferenttaxsystemsandmaychoosepoliciesunilaterally.”This,headded,hasledtoaheighteneddegreeofconcernovertaxesforfirmswithoverseasoperations.Ifonecountrydecidestoforbidfirmsfromclaimingtaxdeductionsforcertaininterestexpenses,theiroveralltaxliabilitiescouldgoup.

Around the region

Asia Pacific Tax Complexity Survey 2014HowaretaxpoliciesaffectingyourbusinessinAsiaPacific?Inthisyear’sAsiaPacificTaxComplexitySurveyReport,over800businessandtaxprofessionalstoldushowtheyfeelaboutthetaxregimesin20jurisdictionsacrosstheAsiaPacificregion.

ThissurveyservesasausefulbenchmarkthatwillhelpexecutivesmakebusinessdecisionsandenhancetaxmanagementpracticesinAsiaPacific.

Downloadthefullreportformoreinformation.

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Forecasting the biggest trends in TMT

Deloitte’sTechnology,Media&Telecommunications(TMT)PredictionsisanannualreportthatpresentsDeloitte’sviewofthemajortrendsintheTMTindustrythatwillmanifestoverthenext12to18months.ThePredictionsalsohasaSoutheastAsiaedition-theSoutheastAsiaTMTPractice’sperspectiveonthedirectionandapplicabilityoftrendsintheregion.WhiletheglobalTMTPredictionswilllikelyhavesimilarlysignificantimpactsonSoutheastAsia,itisworthwhiletoexplorehowtheuniqueeconomic,politicalandsocialnuancesintheindividualmarketswillalterthetrajectoryofthesetrendsastheyunfold.

RevealedattheTMTPredictions2014forumheldatTheFullertonHotelinSingaporeon17March2014,theSoutheastAsiaeditionpredictsandexaminesTMTtrendsinthenearfuture.Forexample,accordingtothereport,between2012and2018,Pay-TVrevenueswillmorethandoubleinthePhilippines,ThailandandVietnamandtripleinIndonesia.UniquechallengestheSoutheastAsiaPayTVmarketincludetheftandpiracy.

ThisbreakfasteventwasopenedwithakeynoteaddressbyShariqBarmaky,SingaporeTMTIndustryLeaderandAuditPartner,andwasattendedbyabout50guestsfromthetechnology,mediaandtelecommunicationssubsectors,aswellasaspectrumofotherindustriesleveragingtechnology,devices,advertisingandsocialmedia.JohnGoeres,SoutheastAsiaTMTIndustryLeaderandConsultingExecutiveDirector,togetherwithNickWhite,ConsultingDirector,presentedthetopsectorpredictionsthatarerelevantgloballyandlocallywithintheSoutheastAsiaregionrespectively,inanengagingsessionthatinvolvedlivelydiscussionswiththeaudience.

TodownloadtheSoutheastAsiaTMT2014report,clickhere.

Around the region

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Deloitte Singapore highlightsCPA Australia honours Chaly Mah with Lifetime Achievement Award

ChalyMah–DeloitteSingaporeChairmanandDeloitteSoutheastAsiaCEO–wasrecentlyawardedtheLifetimeAchievementAwardbytheBoardofCPAAustralia.ThisprestigiousawardrecognisesChaly’ssignificantcontributionstoCPAAustraliaandtheaccountingprofessioninSingapore.

Well-connectedatseniorlevelsoftheaccountingprofessionandtheSingaporepublicsector,ChalyhashelpedtoflytheCPAAustraliaflaghighamongkeystakeholdersfromtheseareas.

HejoinedtheSingaporeDivisionalCouncilin2005andservedasDeputyPresidentfrom2006-2007,andthenasPresidentfrom2008to2010.

Duringthistime,ChalyplayedaninstrumentalroleintherenewaloftheMutualRecognitionAgreementbetweenCPAAustraliaandtheInstituteofSingaporeCharteredAccountants,whichtookeffectin2009andpavedthewayformembers’professionalrecognitionwiththeSingaporenationalaccountingbody.

HealsohelpedtoconceptualiseandsupporttheInternationalAccountantsDayinitiative,whichwasfirstorganisedbyCPAAustraliainSingaporein2012.Throughhissupportandconnections,theeventattractedmorethan2,000accountantsandfinancialprofessionalstocelebratetheprofessionandgivebacktothecommunity.

ThescaleofthisinauguraleventhelpedCPAAustraliatosignificantlyenhanceitsprofileandvisibilityintheSingaporemarketplace.AttheglobalCPAAustralialevel,ChalyhasservedasamemberoftheRepresentativeCouncilandInternationalAdvisoryCommittee.BothofthesewerecriticaltothesuccessofCPAAustraliaaroundtheworld.

DeloitteSingaporewonthreeawardsattheSingaporeHRExcellenceAwardson21May2014.TheannualHumanResourcesExcellenceAwards,organisedbytheHumanResourcesmagazine,aimstohonourandawardoutstandingHRpracticesandprovideaplatformforHRpractitionerstonetworkandcelebratetheirachievements.Forthisyear’sawards,apanelof18judgesscrutinisedhundredsofentriestoshortlistnominations.Afterseveralweeksofreviewanddeliberation,theyselectedthewinnerswhowerehonouredinfrontoftheseniorHRexecutivesataGalaDinnerheldattheMarriottHotelinSingapore.DeloitteSingaporewasselectedasfinalistsforallthefourAwardcategoriesthatitwasnominatedforandwasupagainststiffcompetitionfromSingapore’slargestcompaniesandpublicsectororganisations.DeloitteSingaporewalkedawaywiththeGoldAwardintwoofthefourcategories:ExcellenceinEmployerBranding’forthepractice’s‘What’syourDeloitte?’employerbrandprogramme;and‘ExcellenceinCross-BorderHRProgrammes’foritsSEAAuditMobilityProgram.DeloitteSingaporealsowontheBronzeAwardfor‘ExcellenceinGraduateDevelopment’inrecognitionofthepractice’scareerprogressionprogramsforGraduatesacrosstheSingaporeoffice.DeloitteSingaporewasashortlistedfinalistforthefourthnomination–‘ExcellenceinCorporateSocialResponsibility’.SeahGekChoo,DeloitteSingapore’sTalentPartnerreceivedtheawardsonbehalfoftheSingaporeoffice.

Deloitte wins big at Singapore HR Excellence Awards 2014

“We’reveryproudofourachievementsatthisyear’sSingaporeHRExcellenceAwards.ThewinsareatestamentofthetremendousprogresswehavemadeinourTalentandEmployerBrandinginitiativesinthelast12monthsaswellastheeffortsandinitiativeoftheHR,TalentandC&MteamsinSingapore,”sharedGekChoo.“TheawardsgiveusthemotivationtocontinuetomakeprogresstowardsDeloitte’sgoalofbeingtheemployerofchoice.”

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Building eminence among Southeast Asia’s leading business families

HeldinSingaporefrom18to20March2014,theAsianFamilyOfficeForum,whichwasorganisedaspartofthe10thAnnualPrivateBankingAsiaconference,targetedinternationalandAsianfamilyoffices,familybusinesses,entrepreneursandfamilyadvisors.Theforumdiscussedvarioushottopicsfacedbybusinessfamiliesincludingthechallengesandsuccessstoriesofsettingupafamilyoffice,investment,successionplanning,familygovernanceandwealthmanagement.

DeloitteSEAMergersandAcquisitions(M&A)Leader,KeoySooEarnwasinvitedtomoderatetheChiefInvestmentOfficerPanelDiscussion,titled,‘Riskappetiteandcapitaldeploymentacrossregionsandassettypes’on18March.PanellistsincludedDr.ErnestBoles,CEOofAudaInternational;HenryLee,ChiefInvestmentOfficerofHendaleAdvisorsinHongKong;andStephenDiggle,FounderofVulpesInvestmentManagementinSingapore.

Duringthepanel,SooEarn,togetherwiththepanellists,engagedinanactivediscussiononinvestmentpreferencesandprioritiesthatwillensureanefficientportfolio.Otherareascoveredincludedealsourcingandcross-examiningdirectversusco-investingstrategiesaswellasacomparisononpassiveandactiveinvesting.

Deloitte’sparticipationinthisforumfurtherreinforcesDeloitte’spositionasatrustedadvisorinsupportingbusinessfamiliesingrowingtheirbusiness.

ClickheretodownloadtheresearchreportthatwasrecentlyundertakenbyDeloitteSoutheastAsiaandtheBusinessFamiliesInstituteattheSingaporeManagementUniversityonAsianbusinessfamilysuccession.

Honouring Asia’s top entrepreneurs at the Channel NewsAsia Luminary Awards 2014

DeloitteAnalyticsplayedaleadingroleinhonouringAsia’stopentrepreneursatthisyear’sChannelNewsAsiaLuminaryAwardson25February2014attheFullertonHotel.

PhilipYuen,DeloitteSingaporeCEOandTimPhilips,DeloitteGlobalAnalyticsLeaderwereamongsomeoftheinvitedgueststhatalsoincludedministers,foreigndignitariesandmanywell-knownindustryplayers.

TheawardsrepresentChannelNewsAsia’sdrivetoraisethevalueofenterpriseinAsia,recognisingcompaniesnotonlyfortheirgreenandinnovativeinitiativesbutalsoforthespiritofentrepreneurship.

DeloittehasbeingplayingasignificantroleasaresearchpartnerintheLuminaryAwardsforthepastthreeyears,assistingChannelNewsAsiainapplyingthelatestanalyticsmethodologytoidentifyandclassifyleadingfirmsbasedontheLuminaryAwardscategories.

Theawardshonourachievementsinfourcategoriesandthewinnersforeachofthemwere:•InnovationLuminaryAward:KeppelLandLimited,oneofAsia’spremierpropertycompanies

•GreenLuminaryAward:AyalaLand,Inc.,oneofthePhilippine’stoprealestatedevelopers

•FutureBusinessLuminaryAward:MsSabrinaChao,ChairmanofWahKwongMaritimeTransportHoldingsLimited

•LifetimeAchievementLuminaryAward:MrJohnL.Gokongwei,Jr.,FounderandChairmanEmeritusofJGSummitHoldings,Inc.

Thisyear,theapplicationprocessstartedinAugust2013andinterestedcompanieshadtoparticipateinanonlinesurveythatquantifiedtheattributesofinnovation,greenpracticesandfuturebusinesspotential.Ouranalyticsteamevaluatedtheresultsandappliedthebestpracticesindatavisualisationtoassistjudgestoassessinformationaboutthefinalists.Fivefinalistswereshortlistedforeachcategorybasedontheresultsofthescoringmodel.Anindependentjurypanelsubsequentlydeliberatedontheresultstodeterminethewinners.

FormoreinformationontheLuminaryAwards,clickhere.

Deloitte Singapore highlights

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Social newsDeloitte Singapore dominates at the 2014 JP Morgan Corporate Challenge

On24April2014,morethan16,000runnersfromabout400companiesthrongedthestreetsofSingaporeattheannualJPMorganCorporateChallenge,outofwhich892runnerswerefromDeloitteSingapore,resultinginDeloitteSingaporewinningthe‘LargestParticipationAward’.

DeloitteSingaporehasbeenparticipatingintheJPMorganCorporateChallengesinceitsinaugurationin2004andthiseventisoneofthekeyhighlightsinDeloitte’ssocialandsportingcalendar.ItisauniquesocialexperiencethatallowsDeloitteemployeestonotonlyleadahealthylifestyle,butalsocometogetherandbondoutsideofwork.

Despitethethreateningskieswithoccasionalflashesoflightning,spiritswerehighasDeloitterunnersracedtofinishthe5.6kmracecoursedeckedinDeloitterunningvestsandspurredonbyDeloittecheerleaders.Oneofthehighlightsoftheracewasour11Deloitterunnerswhocompletedtheraceforcharityinanimalcostumes–alion,fourzebras,awolf,threepigs,atortoiseandarabbit!

Aftertherace,DeloitterunnersgatheredattheDeloittemarqueeforsomefood,drinksandfun.

“OurparticipationintheJPMorganChallengeshowedtheemphasisDeloitteplacesinhelpingitsemployeesachieveawork-lifebalance.Theeventwasagreatavenueforalltode-stressandgettogether,andIamdefinitelylookingforwardtonextyear’srun!”saidJosephineYeo,administrativeassistantwithDeloitteSingapore’sClients&Markets.

TheannualeventendedwithaclosingaddressbyDeloitteSingaporeCEO,PhilipYuen,whothankedallrunnersforrepresentingDeloitteSingaporeintheraceaswellasthosewhowereinvolvedinorganisingit.HementionedthatthiswasagreatopportunityforourpeopletocometogetherforafuneveningandtoshowoffourDeloittespiritonthestreetsofSingapore.Aluckydrawwasthenconductedandthewinnerwalkedawaywitha16GBiPadAir.

Moreimportantly,ourparticipationinthisyear’sJPMorganChallengeraisedS$53,520forOperationSmile,JPMorgan’sracebeneficiary.Apartfromthat,S$30,000wasalsoraisedbyourDeloitteSingaporepartnersandstaffforourofficialracebeneficiary,HCAHospicetosupportHCA’sSTARPALSprogramme,whichprovideshomepalliativecaretochildrenwithlife-limitingillnesses.

SharedAuditAssociateWeiEn,whodressedupasazebraaspartofDeloitte’seffortstoraiseadditionalfundsforHCA,“RunningintheanimalcostumewastoughbutthethoughtofdoingthisfortheworthycauseofraisingfundsforthepatientsunderHCA’scarepusheduson.”

FormoreinformationonDeloitte’scorporateresponsibilityefforts,pleasecontactenquiries@deloitte.com

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The11thannualDeloittePragueCupwasanaction-packedweekendofthrillingfootballas54men’sandsevenwomen’steamsfromaroundtheglobebattledagainsteachothertobecrownedthe2014Deloittefootballchampions.

Thisyear,DeloitteSingaporemadeadebutinPraguebysendingintwoteams–theISCAGamesChampionMens’teamandtheISCAGamesSilverMedalistLadies’footballteam–whowereaccompaniedbySeahGekChoo,DeloitteSingapore’sTalentPartner.SingaporewasthefirstAsianpracticetoparticipateinthistournamentandhavingtrainedhard,theplayerswereexcitedtocompeteagainstotherDeloitteteamsfromallovertheworld.

ThetournamentwasheldattheCzechNationalSportsCentreinNymburkandspannedtwodays,16to17May2014.

Deloitte Lions make their debut at the Deloitte Prague Cup 2014

ItwasaslowstartfortheSingaporeMen’steam,wholosttheirfirstgametoAmsterdam.AlthoughtheyrecoveredtowintheirnextgameagainstZurich–withagoalfromCaptain,JamesWalton,DeloitteSingapore’sDeputyClients&MarketsLeader–theywereeliminatedfromthemaintournamentatthegroupstageanddroppedintotheConsolationCup.There,theybeatAdriatics2-0beforebeingknockedoutbyStuttgartinthenextround.

“Itwasadisappointingtournamentaswedidnotplayuptoourpotentialandwestruggledwiththewetandwindyconditionsbutnonetheless,itwasagreatlearningexperienceforallofus,”sharedKwekYiXian,AuditSeniorAssociate.“WelearnedfromourexperienceinPragueandthishasmotivatedustodowellintheupcomingISCAGames.WehopetoreturntocompeteinthePraguetournamentagainnextyear,”headded.

TheSingaporeladiesteam,ontheotherhand,didmuchbetter.TheybeattheManchesterLadies’team4-0andthenthefavourites,Spainwithascoreof1-0.Unfortunately,theladieslosttheirlastgroupgametoIreland1-0,whichresultedinathree-waytieatthetopofthegroup.Theywereeliminatedfromthetournamentbasedongoaldifference,despitescoringfivegoalsandonlyconcedingone,anddroppedintotheConsolationCupround.

TheDeloitteSingapore’sladiesteamhadtheirlongjourneyrewardedwithavictoryintheladiesConsolationCupfinal.TheysecuredtheirtitlewithawinagainstLeeds’Ladiesteam5-0towinthetrophy.“Wereitnotforthegoaldifference,theyhadaverygoodchanceofreachingthefinalandpossiblyevenwinning.Manyoftheteamsandspectatorssaidthatwewereoneofthebestteamsthere,”sharedJamesWalton,whocoachestheladies’team.

Inthemen’stournament,itwastheteamfromDenmarkwhoclaimedtheirfirsteverPragueCuptitlefollowingatightlycontestedfinalagainsttheteamfromPolandTax.

Fortheladies’,theteamfromtheUSA–takingpartintheirfirsteverPragueCup–claimedtheCupwithathrilling2-0victoryovertheteamfromItaly.

TheprizesandaccoladesweregivenoutatthePragueCupafterparty,wheremorethan700Deloittecolleaguesgatheredforaneveningoffunandcelebration.

“Itwasagreatwaytorounduptheday’sevents.WehadtheopportunitytomeetcolleaguesfromallovertheworldandmanypeoplecameuptoourSingaporegroupandcongratulatedusonourwin.Theyadmiredourcommitmenttotravelmanymilesforthecompetition.Overall,itwasanamazingexperience,”saidVeraLim,CaptainoftheSingaporeladies’team.

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