Singaporean entrepreneurs recognised at Asia Pacific Entrepreneurship Awards 2017

The Asia Pacific Entrepreneurship Award 2017 has honoured 15 entrepreneurs and business leaders from Singapore across 10 industry categories. Organised by Enterprise Asia, an association and thinktank for entrepreneurship, the awards received close to 80 nominees from Singapore.

Albert Phuay, Founder & Chairman of Excelpoint Technology, won the Entrepreneur of The Year Award in the Electrical & Electronics Industry category and Cheam Hing Lee, CEO of Rhodium Resources for the Trading & Wholesaling Industry category.

"We can say with certainty that the recipients of the APEA are like none other. Not only do they have to prove their entrepreneurial skills and experience in one of the toughest contests in the world, they also subject themselves to a pledge to uphold the highest standards of entrepreneurship, which includes allegiance to the two founding pillars of Enterprise Asia, namely investment in people and responsible entrepreneurship," says Dato' William Ng, President of Enterprise Asia.

"The APEA is aimed at promoting entrepreneurship globally. Beyond recognising the efforts of these entrepreneurs, we hope to encourage them to continue taking their businesses to the next level in the current digitalisation era, and in the process, providing more job opportunities to the people in the region, and help to drive the economy forward which is in align to Enterprise Asia’s purpose, democratising entrepreneurship, institutionalising sustainability and empowering innovation."


APEA 2017 winners for Singapore
 
Lifetime Achievement Award - Kwek Leng Beng, Executive Chairman of Hong Leong Group

Entrepreneur of The Year, Electrical & Electronics Industry - Albert Phuay, Founder & Chairman of Excelpoint Technology

Entrepreneur of The Year, Trading & Wholesaling Industry - Cheam Hing Lee, CEO of Rhodium Resources

• Scott D Smith, CEO of Beyonics International
• Dr Terence O’Çonnor, Group CEO of Courts Asia
• Ronald Goh, MD, Electronics & Engineering 
• Danielle Warner, Founder & CEO of Expat Insurance 
• Ori Leshem, CEO, Genesis Retail
• Adam Simkins, Director of Getz Bros. & Company Singapore
• David Kim, MD SEA - ANZ of Tmax Singapore
• Chin Wei Jia, Group CEO of Health Management International
• Low Cheong Kee, MD & Founder, Home-Fix D.I.Y
• Suneet Goenka, Founder & Group MD, Red Apple Travel Singapore
• Tan Poo Seng, Founder & MD, TopZone E&C
• Doris Wee, Director, Wendell Trading Company

Launched in 2007, the Asia Pacific Entrepreneurship Awards are regional awards for excellence in entrepreneurship, innovation and leadership. They group leading entrepreneurs in the region together as a voice for entrepreneurship and serve as an invitation-only networking platform. The programme covers 13 markets in Asia.

Source: Enterprise Asia. Winners of the APEA 2017 for Singapore.

The awards feature stringent entry criteria and highly competitive judging parameters. The nomination is by invitation only with each nominee subjected to a rigorous judging process, including financial verification by an appointed audit firm and a mandatory physical site audit and interview, culminating in a confidential balloting process by Enterprise Asia’s committee.

Editor's note: There are many industry awards that appear to be of a similar nature. The most prestigious awards would feature well-established award organisers, include larger, well-known brands as winners and ensure that all nominees go through a rigorous selection process.

Qatar Airways Cargo transports pioneer cow herd for new dairy industry in Qatar

Qatar Airways Cargo, the cargo division of Qatar’s national carrier, has transported the country’s first two shipments of 330 Holstein cows from Europe on a Qatar Airways Cargo Boeing 777 freighter. These initial shipments are part of a 4,000-head herd that marks the launch of a completely new industry for Qatar.

Ulrich Ogiermann, Qatar Airways Chief Officer Cargo said, “It is with utmost pride that we were given the opportunity to offer our expertise and services to support this momentous project. We are truly a part of history, helping launch the country’s newest industry, producing dairy products to meet local demand. The cattle charters involve a great deal of skill and coordination to ensure the flight from the points of origin to Doha was smooth and safe.

“With our extensive freighter fleet and state-of-the-art cargo facility at our Doha hub, we were able to meet our client Baladna Farm’s requirements with tailormade solutions to transport the cattle from various continents swiftly into Doha. Our dedicated team at Qatar Airways Cargo is well-trained and our QR Live product is fully-compliant with IATA’s Live Animal Regulations to ensure safe and comfortable air transportation of live animals.”

Source: Qatar Airways. Cows feeding.

The cargo carrier has been appointed to charter more than 20 cattle shipments from Europe, the US and Australia in the next few weeks. Upon arrival at Hamad International Airport (HIA), the cattle are carefully and efficiently transferred to Baladna Farm, a major livestock farm in Qatar.

Power International Holding Chairman Moutaz Al Khayyat said: “We are proud to expand the dairy industry in the State of Qatar, and are thankful to Qatar Airways Cargo for the expedient, safe and secure transportation of the cattle that have now safely arrived at their new home, Baladna Farm. With the arrival of the dairy cows, we aim to meet 30-35% of the imported milk demand in the country within two months.”

Baladna is a subsidiary of Power International Holding, a diversified Qatari company. Baladna has built special cowsheds with a temperature control system to ensure a comfortable environment for the cattle. Baladna Farm, built over 700,000 sq m, includes 40,000 Awassi sheep able to withstand high temperature and produce high-quality milk. The farm also houses 5,000 goats and an animal feed mill yielding 100 tonnes per day.

Qatar Airways Cargo recently attracted attention for undertaking a massive airlift of food and grocery items when a blockade was initiated by neighbouring countries on 5 June. This undertaking, arranged entirely by Qatar Airways Cargo, lasted several weeks and used its own fleet, as well as other leased aircraft. The cargo airline continues to connect its global customers’ businesses to over 150 destinations on 200 passenger and freighter aircraft.

Ranked the world’s third-largest international air cargo carrier, Qatar Airways Cargo has made significant investments in its fleet, network, its hub and products in recent years as part of its strategy and commitment to improve and enhance its product offering for the benefit of customers globally. The cargo carrier has performed charters for a variety of cargo including such as horses, cattle, pharmaceuticals, oil and gas products, art, concerts and exhibitions, machinery, mining and humanitarian relief goods.

Utilities: the most critical industry in the world, says Vertiv

Utilities, including electricity, gas, nuclear power and water treatment, are the most critical industries in the world according to a new ranking from Vertiv, formerly Emerson Network Power.

Vertiv convened a panel of global critical infrastructure experts to systematically quantify and rank the criticality of multiple industries based on 15 criteria. Mass transit—specifically rail and air transportation—ranked second on the list, followed by telecommunications, upstream oil and gas activity and cloud and colocation. The full list is available in a new report, Ranking the World’s Most Critical Industries, released today.

Source: Vertiv website.

The panel set criteria encompassing the range of potential impacts from the loss of availability of critical systems and weighted them based on the severity of the impact. These criteria then were used to create a criticality rubric the panel used to score the industries, which then were ranked by their average scores.

“If there is a common theme at the top of this list, it is the interconnectedness of these industries,” said Jack Pouchet, VP, market development, Vertiv. “These sectors are important to the foundation of today’s society, and downtime in any of these areas can reverberate across industries and around the globe. This will only continue as our world becomes more mobile and more connected and as the Internet of Things (IoT) expands.”

Clean power and water are fundamental needs in a developed society and underpin most other industries and services, making utilities a clear choice as the most critical industry. Mass transit ranked second, with panelists citing not just the safety of travellers, but the massive impact delays and disruptions can have across multiple businesses, markets and the world. The No. 3 ranking for telecommunications reflects the importance of communications and connectivity in personal and business activities and emergency situations.

Financial services topped the list of industries ranking highest in terms of financial impact of unplanned downtime. E-commerce was second, followed by cloud and colocation. Cloud and colocation also ranked fifth overall in the list of most critical industries due to the increased dependence on those platforms across multiple businesses. The panel also identified cloud and colocation as one of several rapidly emerging industries that are becoming increasingly critical.

“Cloud and colocation growth continues to accelerate,” said Tony Gaunt, panelist and Senior Director for colocation, cloud and banking, financial services and insurance for Vertiv in Asia. “We are right at the beginning of the up curve for core industries’ cloud adoption, and it’s likely that future critical services—the IoT networks that support smart cities and manufacturing, for example—will develop in the cloud.”

Interested?

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To see how other industries rank, use the Criticality Calculator

PwC highlights growth opportunities in developing markets

Source: PwC. Cover for the report.

PwC’s Growth Markets Centre has recently launched its 2017 annual Winning in maturing markets report, which focuses on understanding growth opportunities in developing markets.

The report analyses growth opportunities across six key sectors – agriculture, health & education, manufacturing, retail, financial services and connectivity (transport & communication) – and highlights essential business capabilities that firms need to grow profitably in these markets.

According to PwC, growth markets should be considered mature and not volatile, and different markets follow distinctive growth paths towards stability and long-term prosperity. Despite recent stagnation in the pace of real GDP growth as a result of domestic and external factors – including domestic and foreign policy actions, falling global commodity prices, speculation around rising interest rates and unfortunate environmental disasters – growth markets will continue to register a rising share in global GDP growth in the next five years, reaching almost 65% by 2021¹.

To capitalise on existing growth opportunities, organisations need to better understand the shifts governing the market and operational landscape – in particular across these six key sectors, which are essential to achieving balanced economic and human development in the near future:

Agriculture

Sustaining growth in agriculture is of high importance to growth markets, for which the sector is a primary source of livelihood. A large majority of the global agricultural labour force (over 90%) still reside in developing countries². Growth opportunities in agriculture spread across production, enabling farmers to be more efficient and to deliver higher yield, and consumption – addressing the ever-changing food and drink preferences of consumers.

Health & Education

Pushed by the need to cover large infrastructure and resource gaps, health expenditure is expected to grow by 10.7% annually in growth markets versus 3.7% in developed economies by 2022. The opportunity size for maturing markets is also supposed to touch US$4 trillion in annual spend by 2022³ – creating new opportunities for life sciences companies, medical device manufacturers, pharmaceutical companies and delivery service providers.

Digital health is emerging as a growth sector worldwide, garnering US$13 billion in investments over 2014 and 2015⁴. Unsurprisingly, the adoption of technology-driven solutions is expected to increase, with growth markets looking at low cost and less resource-intensive options to bridge existing gaps.

Manufacturing

Growth markets are now responsible for almost 60% of all low and medium technology manufacturing worldwide. Even more noteworthy is the speed at which these markets have grown their share in high-tech manufacturing – accounting for almost 50% of manufacturing value-add globally. The introduction of new production technologies and changing cost dynamics are further expected to influence global manufacturing competitiveness in the coming years.

Retail & consumer goods

Domestic consumption is one of the most important factors in keeping a growth market’s economy moving upward direc. This is driven by the expansion of the middle class, who have a higher propensity to pay for quality and value, therefore boosting opportunities across the sector. This is especially so for discretionary and aspirational products such as clothing, entertainment, leisure and automobiles. Up until 2010, 46% of the world’s middle class lived in growth markets, but by 2020, this will have increased to almost 70% and to nearly 80% by 2030⁵.

Financial services

Expanding access to financial services amongst households will be key to improving the availability of domestic growth capital in growth markets. This can be achieved through technological investments, which are key to improving reach and accessibility to financial services; alternative payments such as non-cash transactions; and the launch of non-traditional sector participants such as e-commerce companies and mobile operators.

Transport & communications

Connectivity is fundamental to growth in any country, but in many growth markets the scale and quality of connectivity infrastructure, across both transport and communication is below what is needed to facilitate and sustain high growth. This presents many opportunities to venture into areas such as improving road connectivity, increasing third-party logistics services, and in furthering mobile and Internet penetration in both urban and rural communities in maturing markets.

The report also discusses capabilities required to navigate through the complex business environment and institutional voids associated with growth markets. Companies will need to develop flexible business models which are more suitable for the local market while developing new capabilities based on operational efficiency, innovation and go-to-market excellence.

David Wijeratne, PwC’s Growth Markets Centre Leader, said, “As we enter 2017, it’s clear that growth markets are on the verge of a new era of leading global growth in which they are projected to enjoy almost two times the absolute growth in GDP as compared to developed markets by 2021, and account for 65% of global growth within the next five years. This will create significant opportunities for private sector players looking to create and deliver value to the billions of people expected to join the middle class in these markets.”

Interested?

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1 International Monetary Fund, World Economic Outlook, October 2016.

2 Business Monitor International, 2016.
 
3 World Economic Forum, Health Systems Leapfrogging in Emerging Economies, January 2014.

4 StartUp Health Insights, Digital Health Funding Rankings, 2015, 2016

5 PwC and Switzerland Global Enterprise, Rising Middle Class – Global Outlook and Growth Potential, April 2015.

Malaysia welcomes investment from companies eyeing AEC

Malaysia is ready to provide support for companies to capitalise on the ASEAN Economic Community (AEC) as it is already the preferred hub for many global companies planning to expand into Southeast Asia, said Minister of International Trade and Industry, Dato’ Sri Mustapa Mohamed.

“As Southeast Asia's economic growth flourishes, attention on ASEAN as a competitive and lucrative marketplace, providing access to over 630 million consumers, is rising. We have recently introduced the Principal Hub Scheme to facilitate and incentivise international companies who want a business-friendly launchpad to expand into ASEAN. In addition, our advanced integration levels in the AEC are an important bridge to strengthen trade links and economic ties with our ASEAN neighbours so that we can leverage on the rising demand for seamless interconnectivity that is vital for doing business successfully today,” he said.

"Malaysia adopts an ecosystem approach whereby concerted efforts have been put in place to promote the entire value chain of industry clusters and enhance delivery enablers to support the value chain. A strong and comprehensive ecosystem improves production and logistical efficiency; reduces the cost of doing business and supports greater flow of trade and investment. The importance of the ecosystem approach is further entrenched in the 11th Malaysia Plan (11MP). Under the 11MP, we will continue to ensure that there is a significant leap in investment activities. This ultimately contributes to enhancing the competitiveness of the country and improving the country’s attractiveness for FDI.”

The minister noted that ASEAN has a part to play. “As the region seeks to deepen a nd widen trade ties under the AEC to capture a greater share of global trade, it is essential for ASEAN to work on strengthening and aligning structural reforms related to ease and certainty of doing business, regulatory and legal frameworks, as well as financing and investment facilitation measures across the region,” he added.

“The private sector will continue to be a key driver for the AEC’s realisation and we must now look to implementing long-term strategies, plans and projects, with the due consideration and involvement of industry, government and civil society in the planning and decision-making process," commented Dato' Sri Abdul Wahid Omar, Minister in the Prime Minister's Department.

Emirates NBD sees upturn in Dubai economy

Source: Emirates NBD. Emirates NBD Dubai Economy Tracker Index: Sector 

summary. Seasonally adjusted, 50 = no-change.

• April data highlights a sustained rebound in private sector output
• All three key sub-sectors record stronger new business growth than in March
• Employment numbers rise again, but at subdued pace in comparison to survey average

Dubai private sector companies indicated a sustained recovery in growth momentum from the survey-record low experienced in February. At 52.7 in April, up slightly from 52.5 in March, the seasonally adjusted Emirates NBD Dubai Economy Tracker Index has highlighted the fastest improvement in overall business conditions for Dubai since November 2015.

The headline index has now posted above the crucial 50.0 'no-change value' for two months in a row, but the latest reading was still weaker than the long-run survey average (55.1). All three key sub-sectors monitored by the survey recorded an improvement in business conditions during April, led by the wholesale and retail segment.

The Emirates NBD Dubai Economy Tracker Index is derived from individual diffusion indices which measure changes in output, new orders, employment, suppliers’ delivery times and stocks of purchased goods. A reading of below 50.0 indicates that the non-oil private sector economy is generally declining; above 50.0, that it is generally expanding. A reading of 50.0 signals no change.

The survey covers the Dubai non-oil private sector economy, with additional sector data published for construction; travel and tourism; and wholesale and retail. 

Khatija Haque, Head of MENA Research at Emirates NBD, said: “The improvement in the Dubai Economy Tracker in April is encouraging, particularly as it reflects faster new orders and output growth. The latest survey confirms our view that Dubai’s economy is growing in 2016, albeit at a slower rate than last year.”

Key findings:

Business activity and employment
A robust and accelerated expansion of business activity underpinned the latest upturn in operating conditions across the Dubai private sector. Moreover, the overall pace of output growth in April was the steepest since September 2015. A number of firms commented on stronger underlying client demand, alongside successful marketing and promotional strategies.

Despite a rebound in business activity, latest data signalled that job creation was relatively subdued across the private sector. The main exception was a solid rebound in employment growth among construction companies to its fastest for five months.

Incoming new work and business activity expectations
Incoming new work increased again among private sector companies in April and, moreover, the upturn in new business was the fastest since November 2015. Survey respondents noted that improved domestic market conditions, reduced uncertainty about the economic outlook and sustained price discounting strategies had all contributed to higher levels of client demand. Wholesale and retail firms noted the fastest upturn in new business, while solid growth was also recorded in the construction and travel and tourism sectors.

Dubai private sector companies are upbeat about their growth prospects for the year ahead. Travel and tourism was the most positive subsector monitored by the survey, followed by wholesale & retail. However, latest data indicated that overall business confidence eased since March and remained weaker than the average seen in 2015.

Input costs and average prices charged
April data signalled only a marginal rise in input prices across the private sector. However, this contrasted with broadly stable cost burdens in March and falling input prices earlier in 2016. At the same time, average prices charged by Dubai companies dropped for the fourth month running, led by travel and tourism. This was generally linked to competitive pricing strategies and associated efforts to stimulate spending among clients. 

CIER Employment Index shows slowing employment rates in China

Chinese career platform Zhaopin and the China Institute for Employment Research (CIER) at Renmin University have released the CIER Employment Index* Report for the third quarter of 2015, covering July to September, 2015.

The CIER Index increased steadily from 2011 to 2014, reflecting the relative ease with which job seekers could find employment. As the economy slows, the employment market has slowed with it. CIER Index scores have since trended downward during the past two quarters, from a high of 2.46 during the first quarter of 2015. The CIER Index decreased during the third quarter of 2015 to 1.96, down from 2.03 during the second quarter of 2015, indicating even weaker employment confidence in the market.

During the third quarter of 2015, e-commerce registered a CIER Index score* of 5.63, which was first among all sectors, followed by the funds/securities/futures/investment sector with a score of 5.33. The CIER Index for the ten best performing sectors were all above 2.5, demonstrating strong confidence in finding employment in these sectors. The CIER Index for the ten worst performing sectors were all lower than 1.0, demonstrating an excess of job seekers in these sectors.

The ten best-performing sectors include finance and emerging service sectors such as e-commerce. The ten worst-performing sectors were all related to traditional manufacturing and services.

Sectors most likely to employ in Q315	CIER Index
E-commerce	5.63
Funds/securities/futures/investment	5.33
Insurance	4.51
Education/training/college	3.32
Real estate/construction/building materials   /engineering	3.22
Agency	2.93
Logistics/warehousing	2.79
Professional service/consulting   (accounting/law/human resource)	2.74
Traffic/transportation	2.71
Farming/forestry/animal husbandry/fishery	2.50

Sectors least likely to employ in Q315	CIER Index
Accounting/auditing	0.44
Energy/mineral/mining/smelting	0.58
Aerospace research and manufacturing	0.62
Rental service	0.64
Electricity/power/water conservancy	0.69
Office supplies and equipment	0.70
Inspection/testing/authentication	0.71
Academia/research	0.72
Property management/business centre	0.79
Environmental protection	0.82

Total recruitment demand from the IT/Internet sector** during the third quarter of 2015 increased 41% year-over-year. Demand from the e-commerce sector in third and fourth-tier cities increased by more than 100% year-over-year, while demand in the first, emerging-first and second-tier cities increased by over 50% year-over-year. Recruitment demand from the online games sector in second and third-tier cities increased by 72% and 130% respectively during the third quarter of 2015.

Year-over-year change in recruitment demand from the IT/Internet sector in Q315

IT/Internet	41%
IT services (system, data, maintenance)	9%
Computer software	24%
Computer hardware	0%
E-commerce	65%
Online games	18%

Total recruitment demand from the financial sector*** increased 29% year-over-year during the third quarter of 2015. Recruitment demand from the banking sector increased 45% year-on-year, while recruitment demand from the funds/securities/futures/investment sector increased 28% year-on-year.
As China's financial markets develop, recruitment demand from the financial sector in third- and fourth-tier cities grew more rapidly than in first- and second-tier cities during the third quarter of 2015, increasing by 70% year-over-year. This increase reflects the expansion of financial services to lower-tier cities in China.

Year-on-year change in recruitment demand from the financial sector in Q315

Financial sector	29%
Funds/securities/futures/investment	28%
Trusts/warrants/auctions/pawn-broking	50%
Banking	45%

Recruitment demand from the traffic/transportation sector grew steadily in part due to various economic stimulus measures, especially those from construction funds established by banks to support infrastructure development. According to statistics compiled by China's National Development and Reform Commission, total approved investment in railway and road construction projects totalled RMB421.6 billion in September 2015. As a result, recruitment demand from the traffic/transportation sector increased 18% year-over-year during the third quarter of 2015, against 3% year-over-year growth during the second quarter of 2015. Demand from third-tier cities and below increased 87% year-over-year.

China's Belt and Road Initiative has created new growth opportunities for foreign trade during the third quarter of 2015. Seeking to take advantage, many Chinese firms increased overseas investment, resulting in increased demand for relevant professionals. Recruitment demand from the trade/import & export sector increased 18% year-over-year.

The real estate sector has yet to make a recovery since last year. Large firms continue to feel the negative impact as they see their financial and operational performances suffer. Recruitment demand from the real estate sector continued to fall, decreasing 15% year-over-year during the third quarter of 2015.

Year-on-year change in recruitment demand across sectors in Q315

IT/Internet	41%
Financial	29%
Traffic/transportation	18%
Trade/import & export	18%
Telecommunication	17%
Retail/wholesale	14%
Medicine/biotechnology	13%
Manufacturing	10%
Fast-moving consumer goods	7%
Automobile/motorcycle	4%
Durable consumer goods	1%
Real estate	-15%

Geographically, the CIER Index score for Eastern and Central China during the third quarter of 2015 were flat sequentially. The CIER Index score for Western China decreased significantly on a sequential basis as competition for a limited number of jobs heated up. Recruitment demand in Central China increased 24% year-on-year during the third quarter of 2015, significantly higher than Eastern China's 17% and Western China's 14% year-over-year growth rate. The implementation of the national urbanisation strategy has spurred economic growth across in China's central plains and middle Yangtze River regions. As the government works to transform traditional industries, the Central China region has established local industry clusters, some of which were moved from Eastern China.

Area	CIER Index		Year-on-year change in  recruitment demand
	Q215	Q315	Q315
Eastern China	1.95	1.95	17%
Central China	1.63	1.60	24%
Western China	1.44	1.35	14%

City	Year-on-year change in  recruitment demand
	Q315
First-tier	14%
Emerging first-tier	15%
Second-tier	23%
Third-tier	37%

There is more confidence seen at the micro- and small enterprise level. The CIER Index for companies of various sizes during the third quarter of 2015 were (from highest to lowest):

Company size	CIER Index		Year-on-year change in  recruitment demand
	Q215	Q315	Q315
Small	2.83	2.55	17%
Micro	1.77	2.16	52%
Medium	1.36	1.37	19%
Large	1.26	1.21	5%

The CIER Index score for small and micro-sized enterprises was higher than middle and large-sized enterprises. Thanks to government policies that encourage innovation and entrepreneurship as drivers for the new economy, SMEs have greater growth potential and therefore greater demand for labour. During the third quarter of 2015, recruitment demand from micro-sized companies increased 52% year-over-year. Recruitment demand from micro, small-and-medium sized companies was much higher than that of large-sized companies.

According to Zhaopin and CIER, monthly CIER Index scores adjusted for seasonality are expected to trend downwards in coming months as a result of the macroeconomic environment in China. China's "Internet Plus" strategy has begun an irreversible trend which will continue to create more employment opportunities and restructure the labour force in China. Many industries are now finding the need for various Internet-related professionals which is creating a cross-industry flow of Internet professionals. Emerging industries such as big data and cloud computing are creating new businesses which are spurring employment growth. The demand for Internet/IT talent is expected to continue to grow, especially within the e-commerce sector.


In terms of locales, increased urbanisation and social development will continue to draw talent towards Eastern China and Central China as demand from several hundred small-and-middle sized cities outside of China's 40+ super cities grows. During this process, employment options in small-and-middle sized cities will grow as a more favourable employment environment for job seekers is created.

*The CIER Index score for a period is calculated with data from zhaopin.com by dividing the number of job vacancies during a specified period by the number of unique job seekers that apply to jobs during the same period. Data in the calculation is derived from Zhaopin's online platform. Zhaopin calculates the number of job postings by counting the number of newly placed job postings during each respective period. Job postings that were placed prior to a specified period - even if available during such period - are not counted as job postings for the period. Any job posting placed on the company's website may include more than one job opening or position.

A CIER Index score of more than 1 indicates that confidence is high for job seekers seeking employment. A CIER Index score of less than 1 indicates that confidence for job seekers seeking employment is low.

**The IT/Internet sector includes IT services (system, data, maintenance), computer software, computer hardware, e-commerce and online games. ***The financial sector includes funds/securities/futures/investment, banking and trusts/warrants/auctions/pawn-broking.

Max Brenner's website picks up New Media Award Web Award

Source: Max Brenner website.

The Max Brenner website is a 'best in industry' winner for the food and beverage category in the 2014 New Media Awards, organised by the New Media Institute, a research and fact-finding organisation whose mission is to improve public understanding of issues surrounding the Internet and other forms new media communications.

The website for the restaurant, which has outlets in Australia, Japan and Singapore, is described as 'dynamic' and creating "a sense of immersion" through photography that "feels real, even messy".

"It's absolutely amazing to see so much creativity come from such varied industries and from different parts of the world. We are extremely proud to recognize their achievements," stated Barbara Eber-Schmid, EVP at the New Media Institute. "Entries were judged based on innovation, content, design, user-friendliness, how dynamic they are, and most importantly -- how well they serve their audience's needs."

View the winners of the 2014 New Media Awards here.

Malaysia's MICCI and MACC agree to cooperate on combating corruption

The Malaysian International Chamber of Commerce and Industry (MICCI) and the Malaysian Anti-Corruption Commission (MACC) have agreed to partner to combat corruption and enhance good governance and integrity in the private sector.

MICCI is Malaysia’s longest established trade association. The Chamber’s President, Simon Whitelaw, said corruption can only be addressed through concerted efforts involving various parties and stakeholders.

"We agree with the statement by Deputy Chief Commissioner (Prevention), Datuk Mustafar Ali that we need concerted efforts. To this end, MICCI is pleased and is willing to cooperate with the MACC to achieve this objective," he said.

"MICCI is witness to the comprehensive transformation programme currently being undertaken and the various initiatives that have been introduced including creating partnerships with various stakeholders, including the private sector," Stewart Forbes, MICCI's Executive Director said.

MICCI has recommended three proposals to be included in the 11th Malaysia Plan, which is currently being formulated by the government. Strengthening the Malaysian Anti-Corruption Commission Act 2009 and the MACC, as well as providing comprehensive education programmes were among the recommendations.

MICCI also announced in June 2014 the establishment of a Business Ethics Award, to recognise companies who demonstrate exceptional progress in promoting good governance, ethical business and anti corruption compliance throughout their business.

Meanwhile, Datuk Mustafar said that the MACC welcomes the commitment rendered by the MICCI, which is one of the five founder members of the National Chamber of Commerce and Industry of Malaysia (NCCIM).

The other four members of National Chamber of Commerce and Industry of Malaysia are the Malay Chamber of Commerce Malaysia, the Associated Chinese Chambers of Commerce and Industry of Malaysia, the Malaysian Associated Indian Chambers of Commerce and Industry of Malaysia and the Federation of Malaysian Manufacturers (FMM).

"The fight against corruption requires a holistic approach including the support from all parties, especially the private sector. Thus, the commitment by MICCI is indeed a good example. We will make the best of this opportunity to achieve a common goal," he said.

According to Datuk Mustafar, the MACC will take efforts to introduce more than 30 initiatives developed through the MACC transformation programme to members of the MICCI.

These includes creating partnerships and promoting the involvement of stakeholders in the program organised by the MACC.

"Similarly, the MACC is open to suggestions and input from the private sector," he said.

Mustafar said the Corporate Integrity Pledge (CIP), the Certified Integrity Officer program and the module on private sector investigation are among the initiatives that can be leveraged by the private sector. He said that the MACC would also take similar steps to foster ties at the state level.

EIU identifies six areas of growth for Asia

The Economist Intelligence Unit's (EIU's) "industry dynamism" barometer, commissioned by InvestKL, Greater Kuala Lumpur's investment promotion agency, has seen a bright future for six industry sectors across Asia: engineering services, environmental technology, food processing, healthcare, oil & gas, and wholesale & retail. 

The findings indicate that continued corporate investment in Asia will support longer-term opportunities. Speaking at the launch of six reports under the barometer umbrella, Zainal Amanshah, CEO of InvestKL, said that the findings "reinforce the importance of Asian cities as drivers of the region's growth." 

The six sectors are:

Engineering Services 

Rapid economic growth has translated into engineering opportunities for US$8 to US$9 trillion of new infrastructure needed between 2010 and 2020. Asia's engineering companies are growing at breakneck speed as they capitalise on these opportunities. Between 2005 and 2011, the approximately 120 engineering companies listed on the region's stock exchanges grew top-line revenues by an average of 20% every year. 

"Remarkable rates of economic growth make Asia the part of the world for engineering services firms, with this region accounting for 36.6% of global GDP in 2013, up from 26.8% in 2001," said Amanshah of the findings in this sector, which is also a key economic area identified by the Malaysian government.

Environmental Technology  

Policy support for renewable energy in Europe may have fallen, but is strong in Asia. Asia is experiencing record levels of cleantech investment – across the six years of this study, value of fixed assets per company increased by an average of 9% every year. The combined revenues of Asia's cleantech firms more than doubled from 2005 to 2011, while growth rates were at nearly 13% a year for the same period.

"The huge wave of urbanisation sweeping Asia requires a lot more investment in ensuring our urban environments and infrastructure are more efficient," Amanshah noted. "The opportunities for companies that can provide sustainable solutions limiting the environmental impact of our rising population are significant - to put them into context, this region already emits more carbon dioxide than the US, EU and Russian Federation combined."

Food Processing 

Rapid urbanisation is changing food consumption patterns, and creating opportunities for more efficient distribution, including upstream into rural supply chains. Asia's food companies are thriving as they leverage these opportunities. Between 2005 and 2011, the 400 or so food companies listed on the region's stock exchanges grew top-line revenues by an average of 23% every year.

However, companies will need to invest in innovation in order to tailor their products to the diverse local taste preferences across the region – global brands will have to localise their products, while Asia will be a source of new home-grown food ideas (such as the halal-certified food market). 

"We already account for more than half of the world's population. By 2040, we will add another 800 million people to our count – all of whom are rapidly getting richer," said the CEO of InvestKL. "Asia's spending on food is forecast to double between 2007 and 2050 in real terms – representing three quarters of the global increase over the same period."
 
Healthcare

In the hospital sector, Asia will need an additional 180 million new hospital beds in the next decade. In pharmaceuticals, Asia's market will grow more than 13% annually – from US$214.2 billion in 2010 to US$386bn by 2016.
 
In 2007, Asia and Oceania together accounted for 18.1% of global biomedical research. By 2012, that share had grown to 23.8%. Between 2005 and 2011, revenues at Asia's listed healthcare fims rose by almost 23% a year. Profits rose even more swiftly, by 31% a year.
 
Challenges on the horizon include competition that is intensifying as the number of firms entering the sector grows. Costs, especially labour-related, are rising rapidly. And regulations are getting much more stringent as a growing middle class demands greater safety, security and consumer protection. 

With populations and incomes rising, Amanshah noted that "health spending is growing even faster – Asia's share of world health spending is expected to rise from 21% in 2012 to 24% by 2017. Although parts of our region's population are still in need of basic healthcare services, more and more are beginning to require treatment for 'diseases of the affluent'." 

Oil & Gas

"ExxonMobil expects a significant rise in Asia's share of global energy consumption, from 38% in 2010 to 45% by 2040," said Amanshah. "Meeting this rising demand for oil and gas in this region will be challenging, even though some countries are net energy exporters (such as Malaysia and Brunei)."
 
Growth in the demand for gas will outstrip all other fuels, given its cleaner environmental characteristics and superior flexibility.
 
Most countries import more than they produce. BP calculates that Asia produced 8.3 million barrels of oil a day in 2012, or 9.6% of global production, but consumed 29.8 million barrels of oil a day, 33.5% of global consumption. 

Despite being a net energy importer, the Asia Pacific region still has plenty of potential for upstream development. The biggest opportunities exist in new gas fields, such as in Myanmar and Papua New Guinea. In order to extract gas from Asia's more complicated fields, regional oil and gas companies are investing more heavily in new technologies. In 2011, Asia's 50 listed oil & gas firms spent US$2.13 billion on R&D, up from US$368 million in 2004.

Given the landscape of opportunity in Asia, the region's listed oil and gas companies are reporting strong revenue growth. In 2004, revenue per company in the sector stood at US$2.9 billion. By 2011 that had grown to US$10.2 billion, an average annual growth rate of 20%.
 
But while growth is rapid, the industry also faces challenges in the form of increased competition and costs, and talent shortages. These issues contributed to the return on capital employed for Asia's listed oil and gas sector falling from 19% in 2004 to 8.3% in 2011.

Wholesale and Retail

"The population of Asia is predicted to be 4.6 billion by 2040, with average consumer wealth rising in tandem," said Amanshah. "To put the impact of this population increase in perspective, in 2001 Asia accounted for 26.8% of global GDP measured using purchasing power parity – by 2013, our share had risen to 36.6%. Significant urbanisation and penetration of modern retail formats are driving sales."
 
Asia's homegrown retail companies are growing. Between 2005 and 2011, revenues at Asia's listed retail and wholesale firms rose by an average of 21% every year. Most of this growth was organic in character. Between 2013 and 2018, the EIU forecasts that retail sales in Asia Pacific will grow by 10.2% every year, whereas globally retail sales will grow by only 6.9% a year. In 2013, Asia had 80m square meters of modern retail space, but this will rise to 135m square meters by 2018. 


Retail opportunities are highly varied, from mass market grocery chains and fast-food outlets to high-end fashion stores and luxury boutiques. The opportunities for online retail look especially good, with growth rates of close to 17% a year.  

While topline growth is exciting, a number of structural issues are making profits growth harder to achieve. Human capital with retail skills is in short supply, forcing companies to invest heavily in training. Wages are rising, with staff costs up from 3.5% of operating revenues in 2005 to 5% by 2011.

Further reinforcing the eastward shift of power is a study by McKinsey & Co quoted by the EIU in the reports, which notes that 420 cities in emerging markets (more than half of which are in Asia) are expected to contribute 45% of global GDP growth between 2010 and 2015. The report further notes that Southeast Asia will have many significant economic engines of its own, with urban population growth and productivity improvements rising faster than in rural areas, driving incomes up at a much faster pace. This combination of faster population growth and faster income growth led the EIU to conclude that it "makes cities the dynamos of the future".

The six papers, covering engineering services, environmental technology, food processing, healthcare, oil & gas, and wholesale & retail sectors, can be found here.

Travel and hospitality staff in Macau earn the most in Asia Pacific

The 2014 Travel and Hospitality Industry Salary Survey from ACI HR Solutions shows that the highest average salaries from the survey belonged to Macau US$106,800, followed by Hong Kong (US$84,936) and then Australia (US$81,939). Malaysia posted the survey’s lowest average salary (US$37,418).

Underlining Singapore’s reputation as one of the most expensive cities globally, average salaries from respondents grew by 16.1% according to the 2014 survey. This was followed closely by Thailand (11.5%) and China (9.8%).  

Speaking at the official launch at the Singapore Tourism Board, ACI’s Founder & CEO Andrew Chan said employees appear more satisfied with their current prospects than they did in previous years, with more than two-thirds of respondents reporting they had received a pay increment in the last 12 months.

Source: ACI

“2013 proved to be an excellent year for international tourism, which showed a remarkable capacity to adjust to changing market conditions, fuelling growth and job creation across the region despite the lingering economic and geopolitical challenges,” Chan said.

While salary continues to be an important factor for candidates, Chan pointed to the increasing importance of career development on employee satisfaction. More than 70% of all respondents stated that career progression was either ‘extremely important’ or ‘very important’, with just 3% considering career progression unimportant.

Employees appear more satisfied with their current prospects than they did in previous years, with 34% of those surveyed saing they believed that their current employer offered ‘excellent’ or ‘good’ opportunities for career progression compared with 28% in 2013. Only 22% felt career prospects with their present employer were ‘poor’ or ‘zero’ compared to 35% from the previous survey.

Chan said one of the possible reasons was that the improved economic outlook has allowed companies to expand, creating new opportunities for existing staff in new areas of their business or sub-regions.

Launched in late January, the survey this year attracted over 800 respondents from nine countries across the Asia Pacific region. These range from CEOs, managing directors and general managers through to middle management and front line staff. Most of the respondents (37%) were based in Singapore with mainland China (31%) and Hong Kong (17%) providing the next-largest samples.