INTERNATIONAL director companydirectors.com.au Gerard Burg Senior Economist, Asia, National Australia Bank Despite considerable executive activity since Donald Trump’s Presidential Inauguration on January 20, there remains uncertainty around the trade policy agenda of his administration. If electoral rhetoric translates directly into policy, the proposed trade measures targeted against China could escalate into a trade war with negative economic consequences for both economies and potentially the globe as well. The US-China trade relationship China’s rapid industrialisation over the past two decades underpinned the country’s demand for resources and increased its output of consumer and industrial products, which flowed into global markets. In 2015, the US was China’s largest export market – accounting for almost 18% of the total – while China is an important market for US producers, being the country’s third largest export market in 2015. That said, the trade relationship between the United States and China is somewhat one sided – with a widening trade deficit for the US – contributing to political tensions between the two countries. Data from the US Census Bureau shows the trade deficit with China totalled US$347 billion in 2016, almost half the US total. The scale of this deficit contributed to political tensions between the two countries – including accusations of currency manipulation, temporary trade barriers and the anti-trade sentiment that contributed to Mr Trump’s electoral victory. continued on page 3 Issue 82 | SUMMER 2017 1 Staring down the barrel – will Trump trigger a trade war with China? International Division PO Box Z5333, St Georges Terrace, Perth WA 6831 t: +61 8 9320 1700 e: [email protected]Editor: Pauline Nguyen Newsletter written by: International Division. For more information or to submit content, contact us. Disclaimer: The opinions expressed in International Director do not necessarily represent the views of the Australian Institute of Company Directors nor the publication. While every effort has been made to ensure accuracy, no responsibility can be accepted by the publisher for omissions, typographical or printer’s errors, inaccuracies or changes that may have taken place aſter the publication. All rights reserved. INSIDE 2 Head of International 3 Staring down the barrel - will Trump trigger a trade war with China? (continued from page 1) 4 International member profile: John Doody Chacko maicd 5 Longstanding member profile: Leslie Martin faicd 6 Greater industry connection to drive Hong Kong's digital transformation 8 The Gulf states: Opportunities and challenges 9 Welcome new members 9 Longstanding members 9 Congratulating international graduates 10 Out and about 12 Diary dates 2017 WE ARE PLEASED TO ACKNOWLEDGE NATIONAL AUSTRALIA BANK AS OUR MAJOR EVENT SPONSOR China’s rapid industrialisation over the past two decades underpinned demand for resources
Transcript
INTERNATIONALdirectorcompanydirectors.com.au
Gerard Burg Senior Economist, Asia, National Australia Bank
Despite considerable executive activity
since Donald Trump’s Presidential
Inauguration on January 20, there remains
uncertainty around the trade policy agenda
of his administration. If electoral rhetoric
translates directly into policy, the proposed
trade measures targeted against China could
escalate into a trade war with negative
economic consequences for both economies
and potentially the globe as well.
The US-China trade relationship
China’s rapid industrialisation over the past
two decades underpinned the country’s
demand for resources and increased its
output of consumer and industrial products,
which flowed into global markets. In 2015, the US was China’s largest export market – accounting for almost 18% of the total – while China is an important market for US producers, being the country’s third largest export market in 2015. That said, the trade relationship between the United States and China is somewhat one sided – with a widening trade deficit for the US – contributing to political tensions between the two countries. Data from the US Census Bureau shows the trade deficit with China totalled US$347 billion in 2016, almost half the US total. The scale of this deficit contributed to political tensions between the two countries – including accusations of currency manipulation, temporary trade barriers and the anti-trade sentiment that contributed to Mr Trump’s electoral victory.
continued on page 3
Issue 82 | SUMMER 2017
1
Staring down the barrel – will Trump trigger a trade war with China?
International Division PO Box Z5333, St Georges Terrace, Perth WA 6831 t: +61 8 9320 1700 e: [email protected]
Editor: Pauline Nguyen Newsletter written by: International Division. For more information or to submit content, contact us. Disclaimer: The opinions expressed in International Director do not necessarily represent the views of the Australian Institute of Company Directors nor the publication. While every effort has been made to ensure accuracy, no responsibility can be accepted by the publisher for omissions, typographical or printer’s errors, inaccuracies or changes that may have taken place after the publication. All rights reserved.
INSIDE
2 Head of International
3 Staring down the barrel - will Trump trigger a trade war with China? (continued from page 1)
4 International member profile: John Doody Chacko maicd
5 Longstanding member profile: Leslie Martin faicd
6 Greater industry connection to drive Hong Kong's digital transformation
8 The Gulf states: Opportunities and challenges
9 Welcome new members
9 Longstanding members
9 Congratulating international graduates
10 Out and about
12 Diary dates 2017
WE ARE PLEASED TO ACKNOWLEDGE NATIONAL AUSTRALIA BANK AS OUR MAJOR EVENT SPONSOR
China’s rapid industrialisation over the past two decades underpinned demand for resources
Carolyn Chin-Parry MAICD Director Management Consulting, KPMG
Nicki Kenyon MAICD Vice President, Visa Inc.
Tina Piguing MAICD Group Chief Financial Controller, Interflour Group
Jimmy Phoon Executive Director & CEO, SeaTown Holdings International Pte Ltd
Adaire Fox-Martin MAICD President, SAP Asia Pacific
Dale Anderson fAICD Deputy Vice Chancellor, James Cook University
Jonathan Glickfeld Director, Visy Singapore
Hong Kong Committee
Garry Willinge Adj Prof fAICD CEO and Managing Director, Cbridge Limited (Hong Kong)
Simon Clarke MAICD Partner, Allen & Overy
Andrew MacIntosh GAICD Chairman (Non-Executive), Acorus Investment Management
Simone Wheeler GAICD Head of Communications, CLSA
John Spence fAICD Managing Director, Asian Capital Advisors
Angelina Kwan MAICD Head Regulatory Compliance, Hong Kong Exchanges and Clearing Limited
Pru Bennett MAICD Director Corporate Governance, BlackRock
Andrew Tsui MAICD Chairman, Korn Ferry
Fiona Nott GAICD Director, Aesop Limited
Fiji Committee
Kevin McCarthy GAICD BSP Country Manager, Bank of South Pacific Limited
Nouzab Fareed GAICD Group Chief Executive Officer, Fijian Holdings Group
Warwick Pleass MAICD Chairman & Managing Director, Pleass Global Limited
Latileta Qoro AAICD Chief Executive Officer, South Pacific Stock Exchange
Wylie Clark MAICD Principal, Howards Law
INTERNATIONALdirector | SUMMER 2017
International contacts
Edward Palmisano Head of International t: +61 2 8248 2713 e: [email protected]
Stuart Munro International Member Relations Executive t: +61 8 9320 1709 e: [email protected]
Christina Madsen International Events Executive t: +61 8 9320 1711 e: [email protected]
Rachel Hogan International Program Executive t: +61 8 9320 1718 e: [email protected]
Pauline Nguyen International Team Coordinator t: +61 8 9320 1716 e: [email protected]
Trump trade proposals
President Trump’s election campaign had a strongly anti-globalisation tone, targeted at swing states in the country’s rustbelt in mid-West. It included promises to abandon the Trans-Pacific Partnership (which occurred on 23 January), renegotiating the North American Free Trade Agreement and implementing trade restrictions on China – including declaring the country a currency manipulator and imposing a 45% tariff on Chinese goods into the United States. Given the strong trade relationship between the two countries this would be a significant negative for both economies – and put the United States in breach of World Trade Organization regulations.
For US consumers, this would mean a substantial increase
in costs for a wide range of imported products, without any evidence of compensation in terms of employment. According to the American Enterprise Institute, such a tariff ‘will cause Americans pain and bring little gain’.
From a Chinese perspective, a sustained tariff of this size could have a significant impact on its economy. China’s exports to the United States were equivalent to around 3.5% of GDP in 2016, and volumes would be expected to contract considerably under the proposed tariff. Bloomberg’s Tom Orlik estimated exports to the US could fall by 60 to 70% – trimming around 2.5% from GDP, before second round effects on investment and consumption.
This would also have a flow through impact into other emerging market economies – particularly those in South East Asia. According to reports in the
Financial Times, around 37% of Chinese exports to the United States consisted of value added imports from other countries.
A broad based US tariff also adds some additional risk in terms of China’s policy response. Should Chinese authorities choose to run the domestic economy hotter – to offset from the lost trade income – it risks adding to existing imbalances (such as industrial overcapacity) and slowing much needed economic reform – which could have negative long term implications.
Under WTO rules, China would be permitted to introduce retaliatory tariffs on its imports from the United States, with equivalence rules allowing China’s barriers to be considerably larger than the US ones – due to the relative scale of their exports.
Is a trade war likely?
Given that a trade war would have significant negative impacts on both the United States and China, it would seem more likely that a negotiated solution will be arranged. Some see the threatened tariffs as to be the opening bid in a new trade deal between the two countries. China’s President Xi Jinping was quick to contact Trump following the election, offering his congratulations and urging mutual respect and cooperation.
Some trade measures are likely to be necessary to satisfy the demands of the anti-trade base that contributed to Mr Trump’s victory, but expectations are that it will be narrower and smaller than the 45% tariff proposed during the campaign. That said, we can’t discount the possibility of an unlikely outcome – with both the Brexit vote in June and the election of Donald Trump considered unlikely at the time.
ConclusionsFrom an Australian perspective, a trade war between China – our largest trading partner – and the United States – ranked number three – would be a major negative, particularly if political and diplomatic relationships deteriorate further between the two countries (not something that can be discounted given the recent dispute around the multi-decade long ‘One China’ policy). While relatively modest trade measures appear most likely, there remains considerable uncertainty that will persist until the Trump Administration formally announces its plans.
Staring down the barrel – will Trump trigger a trade war with China? continued from page 1
INTERNATIONALdirector | SUMMER 2017
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Given the strong trade relationship between China and the US, an increased tariff would be a significant negative for both economies
Please tell us about your background and career to date?After completing high school in Kuala Lumpur, I completed a Bachelor of Management Studies at the University of Waikato in New Zealand where I also commenced my brand management career.
I started my marketing career with Kraft Foods in Australia in 1992-98 before being recruited by the Coca-Cola Company based in London on an international career as Marketing Director for multi country divisions in North Africa, Venezuela, Thailand, Morocco, Egypt and Hong Kong. Having lived and worked in nine countries, I returned to Malaysia in 2011 under the National Talent Corporation initiative and worked for Khazanah National Berhad subsidiaries as CMO for Proton and CEO/ MD for LeapEd before embarking on my independent non executive directorship journey in 2016 via the Malaysian Academy of Company Directors (MINDA) and AICD. I am currently President of the International Advertising Association, on the world board of IAA in NY and VP for IAA Asia.
What brought you to your current role and location? Having invested almost all of my working life outside of Asia, I wanted to reconnect with Asia Pacific. The Khazanah Talent Corporation Programme for Malaysian expats who wanted to return was a trigger, coupled with my personal desire.
I chose Malaysia as my hub due to the ability to travel easily within the region while on a personal level, it is where my learning journey started from birth and the diversity and international exposure of its business community continues to excite me.
What advice would you give to others contemplating an overseas move?
When I got an offer from Coca-Cola to relocate to London, I hesitated. I recall my wife saying 'do you want to be a big fish in a local pond or a small fish in an international pond and be a global citizen... this is an opportunity of a lifetime!' I have never looked back since.
Likewise, my advice to others contemplating an international career is ‘DO IT’ while you still can. You can reach a point in your career and personal life where a change like this may outweigh the benefits. It is a tremendous learning experience and a rewarding journey that changes your perspective to life. You will start to see through different lens and apply a broader filter in your professional and personal decisions.
Can you share some highlights or the most rewarding part of your career to date? The first is when I decided to accompany my wife who was transferred by Ernst and Young from Auckland to Sydney and I arrived in Australia looking for a job. I had to take a step back, which in hindsight was a tremendous learning opportunity. The next was when I was offered the role as Marketing Director of Kraft Foods. Now it was no longer about me, and what I could do, but what I could do with people to make things happen. Of the numerous highlights while working at Kraft, the one that is etched in my mind is when we had to recall Kraft and ETA Peanut Butter throughout Australia and had to relaunch it 6- 8 months later and regain market leadership. It was the biggest crisis of my career and the most important learning experience about brands and
consumers. Integrity, trust, honesty and reputation were values that assisted to save me, the brand and the business.
Build the trust of your consumers and your people by being fully transparent and they will forgive you, but hide and play the 'blame game' and they will end it for you.
Using the same principles, I was able to build people and capabilities in marketing Coca-Cola brands across Africa, Middle East, Americas and Asia. It is rewarding to see many of these people now heading up business entities and corporations around the world.
What do you think are the three things that directors must bring to their roles?Directors must be constantly curious to be able to understand the inner workings of an organisation to make informed decisions. The facts are not always laid out for you and you will have to dig and dig until you are satisfied. Directors have to be brave about standing up for what they believe is the right thing to do, even if it is not consistent with the opinions of others. You have a responsibility and you are accountable for board decisions regardless of your subject matter specialty. You have to make your opinions known and stand up for what you think is right for the business. Finally, directors must be deeply knowledgeable about their fiduciary responsibility and duty of care. There is science to directorship. This is not a company secretary's responsibility alone but one that every director must be fully aware of.
If you are knowledgeable about your duty of care, then you will be constantly curious and courageous in your role as a director.
INTERNATIONALdirector | SUMMER 2017
INTERNATIONAL MEMBER PROFILE
JOHN DOODY CHACKO mAICD
MALAYSIA
Member since 2016
CURRENT DIRECTORSHIPS:
• President – International Advertising Association (IAA)
• Vice President- IAA Asia
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Tell us about your role? What took you overseas in the first place and what are you doing now? My career began in the late 70s with the old Chase Manhattan Bank in New York, where I joined the Cash Management Division to help get an international corporate cash management business started. I moved to Hong Kong after about five years, I was then transferred to Australia when the new bank licenses were handed out as part of de-regulation in 1985. I worked in banking in Australia until 2010, when my husband and I moved to Singapore. My banking career was always centred on payments, transaction banking and the “current” portion of the balance sheet. As such, process design and technology were a very big part of improving service and simultaneously improving productivity. It was a field that was new, important to customers (as well as shareholders) and always changing because technology was moving so quickly.
How did you end up in your current role? While the lion’s share of my current portfolio of directorships is in Australia, I still like my husband, who travels extensively throughout Asia. So, we’ve been based in Singapore to optimise his travel. As a result, I spend a fair bit of time travelling between Singapore and Australia. I enjoy this very much, as it has given me a better perspective on a vibrant region. My portfolio is nicely varied and this allows me to bring thinking and experience to each in a different way.
Can you share some highlights or tell us about the most rewarding part of your international career?A rewarding highlight of my career has been the transition from executive roles to the board. I have found that being a Director plays to both my personality “peculiarities” and to my work preferences. As an executive, I was often drawn to the “white space” of the organisation—what we weren’t doing, whether or not we should adjust our activities to take advantage of gaps. This was enormously satisfying, but wasn’t ALWAYS the main game for any particular line of business for which I happened to be responsible. By contrast, this is a critical element of being a Director and, happily, these are the questions I ask, naturally.
What are some of the challenges for directors in your role, sector and country? Do you think there are vast differences to what you’d experience in Australia?The key board issues on my mind at the moment is the accelerating rate of change across so many domains. It is partly technology, but it is also the primacy of the user experience (both from a customer point of view AND a staff point of view) in successful business models. Furthermore, the current financial environment, with persistently low (sometimes negative) interest rates globally may, indeed, be the new normal. Navigating these shifts while continuing to deliver performance is a challenge for everyone.
What advice would you give to others contemplating an overseas move?Directors need to bring balance, imagination and courage to their roles.
Balance is about navigating the right path between short and long term goals; strategy and tactics; risk and return. It is a constant requirement that demands lively debate and constructive relationships at the Board level and between the Board and Management.
Imagination is both about risk and about the art of the possible. At some level, everyone needs to bring this to their roles. Partly, imagination is about thinking about where things can go wrong and asking the right questions about risk. But, equally, a board without imagination runs a terrible risk of being a “great, dead hand” and stifling innovation and the kind of change that supports growth and evolution.
Courage is about being able to move from thinking and talking to action, sometimes before the right answer is absolutely clear.
All in all, it is a thrill a minute.
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LONGSTANDING MEMBER PROFILE
LESLIE MARTIN FAICD
SINGAPORE
Member since 2014
CURRENT DIRECTORSHIPS:
• eftpos Payments Australia
• Credit Corp
• IMA Asia
INTERNATIONALdirector | SUMMER 2017
Darrin WebbChief Operating Officer, Global Enterprise and Services, and Managing Director Telstra North East Asia
Asia has been a growth engine for the global economy for a sustained period of time, and with the region’s middle class expected to double by 2030 to more than 1.2 billion households, there is huge potential for the region. However, a key to this success is digital capability, and to keep pace with the leaders in the region, Hong Kong must further improve its industry connectivity.
A new report by the Economist Intelligence Unit, commissioned by Telstra, has taken a closer look at what is driving digital transformation, the role it plays in the ability for a business to succeed in a connected world, and how Hong Kong is performing against other countries in the region.
The results of the Asian Digital Transformation Index places Hong Kong in fourth position out of the 11 other Asian countries indexed. The territory compares reasonably well with the Index leaders – Singapore, South Korea and Japan - in the development of ICT infrastructure and the availability of talent necessary to support digital transformation of its businesses. These strengths however, are offset by weaknesses in industry connectivity.
Why industry connectivity matters In the report, industry connectivity is broadly defined as the ability to draw on resources external to the organisation to drive digital transformation and can also reflect the country’s technology ecosystem. Industry connectivity is important because it allows businesses access to evolving technologies and innovations, to find efficiencies and cost savings, to expand into new markets and offer more products and services to customers.
Hong Kong ranked particularly low when it came to industry connectivity in the EIU index, coming in at fifth place at 40.4, well behind the leader Japan at 78.9. Yet a clear majority of executives (63 per cent) agree that their firms need
to become better at leveraging digital partnerships. In addition, a number of business leaders said they believe their digital partnerships will be nearly as important as their own investments in technology in determining the success of digital transformation.
Some benefits for Hong Kong companies have been generated through involvement in open innovation communities - in which data and ideas are shared by companies, research organisations and individuals. But anecdotal evidence suggests that at least some partnerships are essentially vendor relationships rather than collaborative associations, and Hong Kong must work on improving this to stay competitive with other countries in the region.
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INTERNATIONALdirector | SUMMER 2017
Greater industry connection to drive Hong Kong’s digital transformation
What’s on the horizon?Economic Updates with AICD Chief Economist Stephen Walters MAICDJoin us to gain insights from AICD Chief Economist Stephen Walters on how Australia's economy is tracking and the outlook for the global economy, including examples from the Asian region and the impacts the US may have under the Trump administration. What are the key trends and implications for global trade that Directors should be aware of?
SHARPER INSIGHTS. BROADER KNOWLEDGE. Stronger Connections.Reasons to choose Australia’s largest business bank.
To find out more about how NAB can help your business in more than one continent visit nationalaustraliabank.com
Skilled workers are in high demandRecruiting the right talent remains a crucial factor in a company’s ability to realise digital transformation and it remains a challenge across all countries surveyed.
Hong Kong ranked third in the human capital category, with more than half (53 per cent) of survey respondents indicating that it is relatively easy to find employees with the requisite digital skills. Yet it appears the pool of available talent in more specialist areas such as data analytics and user experience is a lot smaller. This makes the task of nurturing local talent increasingly important for the country. In fact, Hong Kong’s 2016 First Quarter Economic Report showed that information and communications technology vacancies have risen by 18.3 per cent, highlighting the growing demand for tech talent in Hong Kong2.
While South Korea and Japan lead the Index in the human
capital category, talent remains an issue right across the board, with only 16 per cent of all companies saying that it was ‘very easy’ to find employees with the digital skills they required.
Partnerships key to surviving a disruptive futureDisruption is happening everywhere we look at the moment and is set to continue. In order to drive digital transformation, it’s necessary to first embrace disruption. The companies who are already doing this are the ones who are seeing the greatest results. Resisting disruptors and engaging in direct competition with these industry newcomers will only see companies fall further behind in the race to leverage the opportunities presented by digital transformation. The key is to work in partnership with them. By doing so, established companies will receive technological know-how from innovative start-ups, while
disruptors can tap into existing customer bases and knowledge.
Remaining globally competitive when it comes to digital transformation can be achieved by creating an environment that is conducive to continued investment in infrastructure, attracting a skilled workforce and sharing resources and best practice knowledge across industry. While Hong Kong has fared relatively well across the board, the key focus when it comes to driving digital transformation in the immediate future, should lie with industry connectivity and fostering collaborative partnerships.
The full report and the data used to compile the Index can be found at connectedfuture.economist.com.
The Connecting Capabilities report includes:• The first Asian Digital
Transformation Index, which is a quantitative ranking of 11 major Asian markets and three global
comparators (the United States, Australia and the United Kingdom). The Index is comprised of 20 indicators across three categories relevant to enterprises and large organisations: digital infrastructure (including the reach and quality of telecommunications networks), human capital (including education, citizen e-participation and Internet usage) and industry connectedness (including e-commerce maturity and strength of digital partnerships).
• A survey with 870 executives in the same 14 countries across six industries – manufacturing, financial services, media, healthcare, professional services, and logistics.
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INTERNATIONALdirector | SUMMER 2017
Adam Malouf FAICD Chief Executive Officer Austrak Capital
Adam is a highly experienced, international senior executive who worked for many years in the Gulf States for multinationals and family offices, in banking, funds management, private equity and corporate advisory. He is also an experienced non-executive director, being a Fellow of the Australian Institute of Company Directors, and has been a non-executive director of the Australian Lebanese Chamber of Commerce for 17 years and the Australia Arab Chamber of Commerce for 2 years.
In recent times, a drastic decline in the price of crude oil, from highs of approximately US$140 per barrel in 2011, to current prices of approximately US$50 per barrel – and no sign of this price moving significantly
upwards in the near future – has caused a paradigm shift in the thinking of many of the ruling families who reign over the hydrocarbon-rich Gulf states (United Arab Emirates, Kingdom of Saudi Arabia, Qatar, Kuwait, Oman and Bahrain). With a historical reliance on hydrocarbon revenues to fund social infrastructure, foreign investment and domestic growth, this perceived new normal in terms of the price of oil has accelerated the need for economic diversification in order to ensure the long-term sustainability and viability of these economies, whilst also maintaining social stability and cohesion, in a region that is constantly beset by political and security issues.
In spite of these current pressures, some countries have already gone down the road of futureproofing their continued prosperity: the United Arab Emirates, and in particular Dubai, its commercial hub, long ago reduced its reliance on hydrocarbon revenue, with the vast majority of its gross
domestic product underpinned by tourism, transport, logistics, financial services, manufacturing and MICE (meetings, incentives, conferences and events). There is also a concerted move towards structural reform in a number of areas, particularly in terms of taxation, employment, capital markets and foreign investment, and the shrewd use of their well-known experience in real estate investment and development to underpin the growth of their key industries, as opposed to being merely an industry in itself.
Other countries have just commenced their economic diversification journey: the Kingdom of Saudi Arabia, which derives 95 per cent of its revenue from hydrocarbons, has accelerated plans to transform its economy into a regional and international powerhouse not reliant on oil. The centrepiece of this plan is Vision 2030, the brainchild of Deputy Crown Prince Mohammed bin Salman, which will cut government spending, attract foreign and domestic investment and improve productivity. Part of
this plan is to privatise 5per cent of Saudi Aramco, which will raise $US100 billion and value the company at US$2 trillion, making it the most valuable in the world. In the meantime, as a short-term measure, expenditure is being funded in part by foreign reserves, and the Kingdom tapping the international bond markets for the first time in 10 years.
Although the path to reform is never always a smooth one, like change management in an organisation, it is crucial to have equal and transparent representation for all stakeholders who are vested in this journey. There must be a sense of ownership for all those involved, which empowers them to contribute in their own discrete way to the progress of these nations. It is only this holistic approach which will allow a successful navigation of these compelling issues and produce outcomes that will propel these nations into a different realm of international competitiveness, efficiency and stability.
The Gulf States: Opportunities and Challenges
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For more information or to enrol, visit companydirectors.com.au/cdc
Company Directors Course in New Zealand: 26 to 30 June 2017, Auckland
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INTERNATIONALdirector | SUMMER 2017
Mastering the Boardroom is a four-day course
designed to enhance the performance of even the
most experienced directors. Become a better leader
who is more effective at dealing with a broad range
of stakeholders and ready to handle a wider range
of challenges.
29 May to 1 June 2017, Singapore
Mastering the boardroom
Find out more
w: companydirectors.com.au/mtb
t: +61 8 9320 1718
LONG STANDING MEMBERSCongratulations to our long standing international members.
10 years
Ms Michelle Ash gAICD SVP Business Improvement CANADA
Mr Kevin Byrne MAICD CEO PAPUA NEW GUINEA
Mr Stephen Pearce MAICD UNITED KINGDOM
15 years
Mr Rene Benitez FAICD Director PHILIPPINES
Mr Adrian Gonzalez MAICD CEO SINGAPORE
Mr Brett Winstone gAICD Director UNITED KINGDOM
Mr Jesus Zulueta Jr FAICD Chairman and CEO PHILIPPINES
Mr Nicholas Wyman MAICD CEO and Managing Director UNITED STATES
20 years
Mr Patrick Elliott MAICD Chairman NEW ZEALAND
Mr Nick Romas MAICD SINGAPORE
Mr Leonard Shore MAICD Chairman UNITED KINGDOM
25 years
Mr Nadaraja Kanniappan FAICD Regional Chief Financial Officer UNITED KINGDOM
INTERNATIONAL GRADUATESCongratulations to our recent graduates of the International Company Directors Course.
Mr Jonathan King gAICD STT GDC Pte Ltd SINGAPORE
Mr Jonathan King gAICD NAB Wealth AUSTRALIA
Ms Karen Loon gAICD PricewaterhouseCoopers LLP SINGAPORE
Ms Jacqueline Teo gAICD HONG KONG
Mr Michael Utsler gAICD Woodside Energy Ltd AUSTRALIA
Mei Kit Wan gAICD SINGAPORE
Make your move
Mr Glen Barnes MAICD SINGAPORE
Ms Maija Burtmanis MAICD Healthcare Compliance Director, APMS, Janssen - Johnson & Johnson SINGAPORE
Ms Alexandra Crossing MAICD SINGAPORE
Mr John Goulios MAICD SINGAPORE
Mr Graham Lee MAICD Partner, PricewaterhouseCoopers SINGAPORE
WELCOME ALL NEW MEMBERS
15 and 17 November 2016 Hong Kong and Singapore
The International Division hosted two end of year cocktail receptions for members in Hong Kong and Singapore with AICD Chairman Elizabeth Proust Ao FAICD as the key note speaker.Proudly hosted by National Australia Bank (NAB) and Voyager Estate, members enjoyed making valuable connections with peers. It was a great opportunity for members and Elizabeth Proust to engage on the opportunities and challeneges facing directors locally and internationally. Thank you again to our sponsors NAB and Voyager Estate for two excellent events.
Out and about
End of Year cocktail receptions with Elizabeth Proust AO FAICD
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INTERNATIONALdirector | SUMMER 2017
Cocktail reception in Singapore with Elizabeth Proust AO FAICD
Craig Manning GAICD and Candice Weston MAICD
Darren Harrison GAICD and Prerana Menta
Nicki Kenyon MAICD, Elizabeth Proust AO FAICD and Neil Parekh MAICD
Karl Jacoby FAICD, Jonathan King MAICD and Perry Cooper MAICD Elizabeth Proust AO FAICD and guests
14 to 18 November 2016 Singapore
In November the International Division hosted the five-day intensive International Company Directors Course in Singapore at the Hilton hotel. Lead by experienced facilitators, the course was fully booked with attendees from Singapore, Cambodia, Japan, Fiji, Hong Kong and Australia.
A few additional highlights from the week included the participant dinner with AICD Chairman Elizabeth Proust Ao FAICD as guest speaker and participants were provided with the opportunity to engage and network with other members and graduates at the AICD end of year cocktail reception.
International Company Directors Course
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Fiji Directors CourseThe Fiji Directors Course has been designed to provide you with an understanding of the duties and responsibilities of a director, including those related to the newly passed Fiji Companies Act, 2015. The Act includes fundamental changes to the fiduciary duties of a director, aligning it more closely to international best practice.
31 May to 2 June 2017, Nadi
Enrol now w: companydirectors.com.au/fiji
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INTERNATIONALdirector | SUMMER 2017
International Company Director Course attendees
INTERNATIONALdirector | SUMMER 2017
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744
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For all enquiries t: +61 8 9320 1700 e: [email protected] w: companydirectors.com.au/courses
Get ready to leadBuilding your career has taken hard work and a lot
of planning. Now it's time to take the next, crucial
step. Our International Company Directors Course
will equip you with the knowledge to address the
unique challenges faced when operating across
countires and regulatory frameworks.
23 to 27 May 2017, Singapore4 to 8 September 2017, Hong Kong8 to 12 October 2017, Dubai13 to 17 November 2017, Singapore
Enrol now w: companydirectors.com.au/ICDC
23 March
Hong Kong Member Networking Evening
4 to 8 September
International Company
Directors Course
11 April
Directors Briefing: Economic update with Stephen Walters
4 to 8 September
International Company Directors Course
28 March
Singapore Member Networking Evening
12 April
Directors Briefing: Economic update with Stephen Walters
23 May
Short Course
The Role of the Chair
23 to 27 May
International Company
Directors Course
29 May to 1 June
Mastering the Boardroom
13 to 17 November
International Company Directors Course
29 May to 2 June
Fiji Directors Course
26 to 30 June
Company Directors Course
8 to 12 October
International Company Directors Course
6 February
Directors' Changing Responsibilities for Whistleblowing
