April 2013 - Australian Institute of Company Directors

INTdirector
Issue 67 | AUTUMN 2013
companydirectors.com.au
INSIDE
KPMG hosted member event
Garry Willinge FAICD, Dr Richard Petty FAICD
and Kathryn Dioth GAICD
Hong Kong Briefing – Insights
into the Davos Forum
Sally Hasler MAICD
The Women’s Foundation HK
Member since January 2013
At Company Directors’ first Hong Kong
Director Briefing for 2013, KPMG’s Global
Chairman, Michael Andrew, shared his
insights on global economic trends following
his attendance at the World Economic Forum’s
Annual Meeting in Davos, Switzerland.
Each year, 2500 government, business and
civil society leaders make their way to the
Davos Forum to discuss some of the globe’s
most pressing issues, identify emerging risks
and brainstorm solutions to address these
challenges. Michael is also a member of the
International Business Council which acts
as an advisory body providing intellectual
stewardship to the Forum.
The event was well attended by Hong Kong’s
growing Company Directors’ membership base
and also many Australians in town for the
annual Mines and Money, and Credit Suisse
conferences – and perhaps a certain rugby
event! Michael successfully covered a lot of
big issues in a very short amount of time,
including his predictions for the somewhat
unpredictable Year of the Snake.
Despite the continuing economic and
socio-political challenges (including the Euro
zone, fiscal reform and the potential for civil
unrest), Michael painted a relatively positive
picture for 2013 citing a number of factors
that will continue to tip the scales towards
‘growth.’ Among them, he highlighted the
positive role central banks had played to help
restart the economy by putting capital back
into markets and assisting recovery.
On the United States, he said that the rebirth
of the housing market and the creation of
1.5 million new jobs from Shale gas will assist
ongoing growth, despite the need for fiscal
prioritisation and the challenges that will arise
to reduce the deficit. As largely predicted, China
had engineered a soft economic landing, and
will continue to (slowly) modernise its financial
system and internationalise the Renminbi.
Along with the Year of the Snake (coincidently
Chinese President Xi Jinping’s birth year),
Japan may prove to be a wild card stimulating
economic growth and investment waves.
Highlighting the pivot to Asia, Michael
forecast that business and governments will
continue to focus their efforts on South East
Asia where 1.3 billion people will join the
growing middle class in the next 5 years
representing an ever-expanding market place
and labour force. And going forward, we all
know about the PIGS and the BRICS, but keep
your eye on the MINTS – Mexico, Indonesia,
Nigeria, Turkey and South East Asia – the
up and coming countries who are making
substantial economic reform and are well
placed to reap the benefits.
continued page 5
2
International Manager corner
3
Congratulations –
International Company
Directors Course Graduates
4
Australia ranks in
global top three
5
Welcome new members
5
Hong Kong Briefing –
Insights into the Davos Forum
6
Overseas long standing members
6
Singapore Committee
Members 2013
7
Director Profile with
Owen Eather FAICD
8
Director Profile with
Christopher Chong FAICD
9
Jakarta Roundtable
Members event
10 Australian Ambassador
reception in Jakarta
11 International Company
Directors Course, Abu Dhabi
– a director perspective
12 International director
network releases landmark
paper on board diversity
13 Asia’s mix of new and old
corporate governance standards
14 A practical approach to director’s
cultural challenges in Asia
16 Diary dates
International and WA Division, PO Box 7050,
Cloisters Square Perth WA 6850 t: +61 8 9320 1700
f: +61 8 9320 1722 e: [email protected]
Editor: Karen Spencer Newsletter written by: WA State
Office. For more information or to submit content, contact us.
Disclaimer: The opinions expressed in INT 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.
International and WA Division, PO Box 7050, Cloisters Square Perth WA 6850 t: +61 8 9320 1700 f: +61 8 9320 1722 e: [email protected]
1
INTdirector | AUTUMN 2013
INTERNATIONAL MANAGER’S CORNER
Suzanne Ardagh MAICD
International Division Manager
Company Directors
Welcome to our second
newsletter for 2013. It was a busy
start to the year with a launch
and roundtable lunch in Jakarta,
and member events in Hong Kong
and Singapore all after Christmas
and before the Chinese New Year.
We are particularly delighted
with the level of support and
engagement that has been
provided to Company Directors by
the Australian Government and
this certainly reflects the roadmap
which has been adopted through
a whole of Government approach
through the “Australia in the Asian
Century” White Paper.
In January, the Australian
Ambassador, Greg Moriarty,
hosted a private dinner for the
25 members located in Jakarta to
talk through what we can achieve
in this rapidly developing country.
The support from Austrade
has also demonstrated their
willingness to help the Institute
build sustainable relationships
and contribute to the capacity
development of our fellow
Directors in our near neighbour.
We were fortunate that Company
Directors’ CEO John Colvin was
able to take part in this first trip
of the year where we also visited
Singapore to meet with newly
appointed High Commissioner,
Philip Green. He too expressed
a strong desire to support and
promote the activities of Company
Directors in Singapore.
It was not just the Australian
connection that was activated
during this trip. We were delighted
to meet with and have dinner with
our colleagues from the Institute
of Directors Singapore and the
following day, have lunch in Jakarta
with our friends at the Indonesian
Institute of Directors. Both
opportunities allowed us to explore
possible collaboration and potential
partnerships for the future.
There’s a great deal of work
going on in SE Asia, but that
Suzanne Ardagh MAICD with Philippines onion farm workers
International contacts
Suzanne Ardagh maicd
International and WA Manager
e: [email protected]
t: +61 8 9320 1700
2
Brad Green
Member Relations Executive
e: [email protected]
t: +61 8 9320 1701
doesn’t mean we are not keen to
hear from and connect with our
members further afield. Please
do continue to send us member
profiles, stories and articles
to share your experiences as
Directors. If you wish to host a
member event in your country,
please let us know!
I recently joined the Board
of Opportunity International
Australia a non-profit organisation
offering a “hand up” rather than
a “hand-out” through community
development programs and
micro-finance loans to women and
families to help them grow their
own small business.
In February, I took part in a visit
to the Philippines and met our
clients and some young women
who were loan recipients. It was
inspirational to see how a small
loan can transform the lives of
families trapped in the poverty
cycle. The organisation is active
in the Philippines, Indonesia and
India and I’m delighted to have
joined the Board of this really
worthy organisation. I’ve shared a
few photos from that recent trip
and you can find out more about
them at www.opportunity.org.au.
We have a number of events coming
up for our international members
in the next few months in the
APAC region, including the ICDC in
Shanghai, Workshops in Hong Kong
and Singapore, and we are currently
in the stages of planning a member
event in Hong Kong. You’ll find
further information on these events
on the website.
I hope that some of you will be
making the trip to Singapore to
join us at our annual Conference
“Director 2013”, so I look forward
to meeting those of you who make
it to Singapore then.
Bye for now.
Suzanne
A budding young Philippina entrepreneur
INTdirector | AUTUMN 2013
CONGRATULATIONS
International Company Directors Course Graduates
Professor Spencer Beasley GAICD
New Zealand
Professor Ron Paterson GAICD
New Zealand
Ms Yuehui Wang GAICD
China
Ms Vanessa Oakley GAICD
New Zealand
Ms Susan Dobbie GAICD
New Zealand
Ms Makereta Konrote GAICD
Fiji
Ms Kerry-Anne Hoad GAICD
England
Ms Julie-Anne Ashton GAICD
Singapore
Ms Joanne Scotney GAICD
New Zealand
Ms Jill Storey
United Kingdom
Ms Jennifer Strangward GAICD
Switzerland
Ms Janina Gawler GAICD
France
Ms Jacqueline Johnson FAICD
New Zealand
Ms Irene Zeitler GAICD
Germany
Ms Grace Zhou GAICD
China
Ms Felicia Brown GAICD
Singapore
Ms Audrey Lim GAICD
Singapore
Ms Aliza Knox
Singapore
Mrs Krysta Fox GAICD
United Arab Emirates
Mrs Jennifer Dignam GAICD
Singapore
Mrs Annette Tilbrook GAICD
Singapore
Mr Simon Taskunas GAICD
Singapore
Mr Scott Beckwith GAICD
Indonesia
Mr Richard Winnall GAICD
Singapore
Mr Richard Perry GAICD
New Zealand
Mr Ralph Chivers GAICD
New Zealand
Mr Previnder Bhar GAICD
France
Mr Philip Ratcliff GAICD
Spain
Mr Philip Turner GAICD
New Zealand
Mr Peter Moore GAICD
New Zealand
Mr Peter Hayman GAICD
USA
Mr Paul Speed GAICD
Singapore
Mr Paul Jennings GAICD
Malaysia
Mr Paul Brown GAICD
New Zealand
Mr Nathan Manzi GAICD
Singapore
Mr Mason Hills GAICD
USA
Mr Martin Purvis GAICD
Singapore
Mr Kim Slaminka GAICD
United Arab Emirates
Mr Kelvin Wickham GAICD
China
Mr Jose Valdes GAICD
Chile
Mr Jason Ellis FAICD
Thailand
Mr Ian Clyne GAICD
Papua New Guinea
Mr Graeme Tivey FAICD
Singapore
Mr David Matthews GAICD
New Zealand
Mr David Kelso FAICD
Papua New Guinea
Mr David Bartel GAICD
USA
Mr Damian Ferguson GAICD
Singapore
Mr Craig Dower GAICD
Singapore
Mr Colin Albert GAICD
Singapore
Mr Christopher Sullivan GAICD
Philippines
Mr Alan Morrell GAICD
China
Miss Sarah Djari GAICD
Switzerland
Dr Tracey Swift GAICD
New Zealand
Dr John O'Donnell GAICD
New Zealand
Dr Johan Morreau GAICD
New Zealand
Dr David Boswell GAICD
New Zealand
Dr Brian McCulloch GAICD
New Zealand
International Company
Directors Course, Shanghai
with guest director Dr Geoff Raby MAICD
9 - 14 June — Four Seasons Shanghai, China
As guest director, Dr. Raby former Australian Ambassador to
China and Deputy Secretary of the Department of Foreign Affairs
and Trade (DFAT), will share his experiences and contribute
valuable insights into international governance. His perspectives
will add depth to group discussions and provide you with a truly
international context in which to apply your learnings.
Dr Raby is Chairman of ASX listed company SmartTrans and an
Independent Director on the boards of Fortescue Mining Group,
OceanaGold and Yancoal Australia. He is Co-Chair of Corrs
Chambers Westgarth's China Business Practice, Senior Advisor
to Kreab Gavin Anderson and Vice Chairman of Macquarie
Greater China.
The International Company Directors Course will assist you in
tackling many of the challenges faced by international directors,
enhance your director performance and protect you from the
many risks and pitfalls.
For more information w: companydirectors.com.au/icdc
e: [email protected]
3
INTdirector | AUTUMN
2013
Australia ranks in global top three
Excerpt provided by
Australia Unlimited
www.australiaunlimited.com
Australia’s image among foreign
buyers, investors and students
has never been better, according
to the Reputation Institute’s
latest Country RepTrak survey.
Survey respondents in the G8
group of advanced economies
now rate Australia second in
the world behind Canada on
economic, social and aesthetic
criteria, increasing the desirability
of Australian exports.
Respondents from a broader
group of nations including Brazil,
China, India, Indonesia, South
Korea and Vietnam rank Australia
fourth on the same criteria.
The Reputation Institute,
one of the world’s leading
scientific monitors of national
reputation, measures country
image and quantifies the level of
commercial advocacy that each
‘country brand’ can expect.
Austrade’s Executive Director
of Australian Operations, Tim
Beresford, said Australia’s rise
up the brand league tables
would boost its economy.
“This is because of something
economists call the Country of
Origin Effect,” Mr Beresford said.
“Put simply, the more positive
people are about another
nation, the more likely they are
to buy its goods and services.
They are also more likely to
study or invest money there”.
Qualities strongly associated
with Australia include openness,
stability, diligence, good
governance and global citizenship.
While Australia’s image
is still strongly associated
with landscape and lifestyle,
perceptions of its business
environment have shown marked
improvement over recent years,
a shift that may be due in part
to global media coverage of
its strong economy, including
Treasurer Wayne Swan’s World’s
Best Finance Minister award.
Positivity towards Australia
as a place to do business rose
by nine per cent among G8
nations between 2009 and 2012,
according to the RepTrak survey.
4
Over the same period,
Australia has also enjoyed
significant improvements in
perceptions of its products and
services, contribution to the
global community, governance
and approach to technology.
Positivity towards Australia as a
producer of high quality goods
and services, for example, has
increased by eight per cent.
Global economic conditions
have presented enormous
challenges for Australian
exporters but the competitive
advantage of Australianness,
through the Country of Origin
Effect, has increased.
The most valuable insight
from the Country RepTrak is
what it reveals about the link
between country reputation
and economic outcomes.
It shows a strong correlation
between the extent to which
people trust, admire and
respect Australia, and their
willingness to invest money in
its ideas, people and projects.
Australia had an average
reputation score of 70 in 2012.
Seventy-eight per cent of those
surveyed agreed they would
recommend Australia as a holiday
destination, 70 per cent as a
study destination and 64 per cent
as an investment destination.
Sixty-five per cent of people
would recommend buying
Australian goods and services.
Advocacy levels for Australia
are in the top-5 of all nations
but results could still be
improved to bolster the Country
of Origin Effect. For example, if
Australia’s average reputation
score could be increased from
70 to 75, advocacy levels
would increase accordingly.
This model goes some way
to explaining why major events
such as an Olympic Games
can deliver demonstrable
trade benefits, and why direct
positive experience of Australia
through tourism, education
or work builds advocacy and
increases the commercial
value of ‘Brand Australia’.
“The data proves what we know
intuitively: the better Australia’s
international image, the easier
it is to attract customers,
investors, students, visitors and
cooperation,” Mr Beresford said.
“Incremental improvements
to Australia’s reputation will
increase the Country of Origin
advantage for Australian firms
and help to drive prosperity.”
“Australia’s greatest asset
is not our beaches or our
mines. It is our exporters,
scientists, entrepreneurs,
administrators, educators,
designers, artists and
humanitarians who will
ultimately shape the way
the world sees us. Our
talented people provide the
most compelling evidence
of Australian capability,
and act as a powerful corps
of citizen ambassadors for
the nation.“
Like all country brands,
Australia’s reputation is shaped
by a complex range of factors
including history, geography,
allegiances, natural disasters,
commercial brands, foreign
policy, famous and infamous
citizens and cultural exports.
The Country RepTrak survey
simplifies this complexity,
providing an evidence-based
picture of how the rest of the
world sees Australia and shining
a spotlight on those aspects
of Brand Australia that we
should attempt to strengthen.
After talking to industry
back in 2009, the Australian
Government launched
Building Brand Australia to
broaden perceptions beyond
traditional associations with
landscape and lifestyle. The
program, which is managed by
Austrade, focuses on promoting
intellectual, commercial and
creative achievements.
“Australia’s greatest asset is
not our beaches or our mines.
It is our exporters, scientists,
entrepreneurs, administrators,
educators, designers, artists
and humanitarians who will
ultimately shape the way the
world sees us,” Mr Beresford said.
“Our talented people provide
the most compelling evidence
of Australian capability, and act
as a powerful corps of citizen
ambassadors for the nation. The
Building Brand Australia Program
is about amplifying their ideas
and achievements through the
innovative Australia Unlimited
iPad magazine and website.
“Enhancing Australia’s
image is not about winning a
popularity contest, it is about
building prosperity for the
nation and the millions of
Australians employed in export
related jobs by increasing our
Country of Origin advantage.
“Talking up the achievements
of talented Australians at home
and abroad is one way to make
sure the rest of the world knows
that Australia today is as clever
and innovative as it is beautiful.”
Industry can participate in
the campaign by contributing
their stories of innovation and
success or by applying to use
the Australia Unlimited brand in
their own marketing collateral.
Stories are showcased each
month across the Australia
Unlimited digital platforms
including the free monthly iPad
magazine Australia Unlimited, and
on www.australiaunlimited.com.
“Australia Unlimited is all
about exporting success stories
to prove that Australia today is
as clever and innovative as it is
beautiful,” Mr Beresford said.
Source: Licensed from the
Commonwealth of Australia
under a Creative Commons
Attribution 3.0 Australia Licence.
The Commonwealth of Australia
does not necessarily endorse the
content of this publication.
INTdirector | AUTUMN 2013
WELCOME ALL NEW MEMBERS
Mr Peter Creighton MAICD
Rhodes Holdings Pte Ltd
Singapore
Ms Geraldine Barlow MAICD
Hastings Funds Management
USA
Ms Alison Steyer MAICD
International Copper Company
Canada
Mr Sitiveni Weleilakeba MAICD
NAS Fund
Papua New Guinea
Dr Pamela Ryan OAM,
Honorary Doctor MAICD
Psychology Beyond Borders
USA
Miss Kirsty Laird MAICD
Deloitte Touche Tohmatsu
Papua New Guinea
Mr Atif Al-Suwaidi MAICD
Atif
Saudi Arabia
Mr Mark Baker MAICD
Australia and New Zealand
Banking Group Limited
Papua New Guinea
Ms Victoria Joe MAICD
Law Partners
Vanuatu
Mr Peter Fanning MAICD
Hutabarat Halim & Rekan
Indonesia
Dr Leonie Lethbridge AAICD
PT Bank ANZ Indonesia
Indonesia
Associate Professor
Leesa Soulodre MAICD
BluePedal Group
Singapore
Mrs Indu George MAICD
Supreme Foodservice FZE
United Arab Emirates
Dr Edward Manners MAICD
Rainbow Reward Holdings Ltd
USA
Ms Ivy Branson MAICD
Bentley Systems
Singapore
Ms Ruth Naderer MAICD
The ROLE Foundation
Hong Kong
Mr Mark Rutherglen MAICD
Independent Purchasing Company
Australasia Ltd
New Zealand
Mr David Mann MAICD
Independent Purchasing Company
Australasia Ltd
Taiwan
Ms June Tan MAICD
Stewardship & Corporate
Governance Centre Pte Ltd
Singapore
Ms Brooke Patterson AAICD
Ord Minnett HK
Hong Kong
Mr Nicholas Langdon MAICD
Thailand
Mr Christopher Ramsay AAICD
Sakari Resources Ltd
Indonesia
Mr Steven Morrish MAICD
SISHA Limited
Cambodia
Mr Michael Stockdale MAICD
B2C Logistics
United Arab Emirates
Mr Matthew Neal MAICD
Navig8 Bulk
Singapore
Mr Dean Horton MAICD
National Australia Bank, Indonesia
Indonesia
Mrs Claire Denison AAICD
Kerridge and Partners
New Zealand
Mr Ronisdalber Braganca MAICD
Crusader DO Brasil Mineracao Ltda
Brazil
Mr Martin Webster MAICD
MWA Ltd
Hong Kong
Mr Steven Miller MAICD
Mayer Brown JSM
Hong Kong
Dr Roger Barker MAICD
Institute of Directors UK
United Kingdom
Mr Emmanuel Givanakis AAICD
Mr Simon Collins MAICDDubai Financial Services Authority
Singapore
United Arab Emirates
Mr Laurence Marsland MAICD
PLC Partners S.A.
Bulgaria
Mr Troy Bailey MAICD
KCI Medical Asia Pte Ltd
Singapore
Ms Margaret Cole MAICD
White & Case LLP
United Arab Emirates
Mr Dominic Heaton MAICD
Masan Resources
Vietnam
Ms Sally Hasler MAICD
The Women's Foundation HK
Hong Kong
Mrs Moira McInerney GAICD
Auckland Eye
New Zealand
Mr Thomas Shadforth MAICD
Ernst & Young
Hong Kong
Mr Bernold Glaser MAICD
Coconut Oil Production Santo Ltd
Vanuatu
Ms Anna Ramalho MAICD
Institute of Director in South Africa
Republic Of South Africa
Mr Colin Yow MAICD
Ytf Consultants
Singapore
Mr Henry Wang MAICD
Austrade
China
Mr Nicolas de Boisgrollier MAICD
AXA Group
France
Mr Ronald Stubbings MAICD
KPMG PNG
Papua New Guinea
Mr Ovini Uqeuqe MAICD
Nasiriti Trust
Fiji
Mr Leon Buskens MAICD
Nambawan Super Limited
Papua New Guinea
Sir Nagora Bogan KBE MAICD
Nambawan Super Limited
Papua New Guinea
Professor Albert Mellan MAICD
Nambawan Super Limited
Papua New Guinea
Professor David Kavanamur MAICD
Nambawan Super Limited
Papua New Guinea
Ms Marianna Ellingson MAICD
Nambawan Super Limited
Papua New Guinea
Mr Anthony Smare MAICD
Nambawan Super Limited
Papua New Guinea
Mr Peter Sugden MAICD
White Rose Associates
Singapore
Mr Valdemiro Matavela AAICD
Administration of Water
and Sanitation Infrastructures
Mozambique
Ms Olinda Sousa MAICD
Administration of Water
and Sanitation Infrastructures
Mozambique
Ms Elcina Mulambo AAICD
Administration of Water
and Sanitation Infrastructures
Mozambique
Hong Kong Briefing – Insights into the Davos Forum
Michael gave the example of
Mexico, which has signed 44
free-trade agreements recently,
and is capitalising on the unique
market opportunities presented
by its location between North
and South America.
The members briefing was
a great opportunity for me
to meet with other members
working in Hong Kong and
hear Michael’s knowledgeable
predictions and insights on global
economic trends, challenges
and opportunities, as both a
participant at Davos and the global
chair of KPMG. As my first event
after joining as an international
member, it served to reinforce the
unique opportunities available to
me both as an AICD member, and
as an Australian working in Asia.
continued from page 1
Sally Hasler is the Policy and
Networks Manager at The
Women’s Foundation Hong
Kong responsible for leading the
Foundation initiatives to promote
gender diversity on Hong Kong’s
boards, including the recent launch
of the 30% Club Hong Kong. Sally
is also a Non-Executive Director
on the National Board of St John
Ambulance Australia.
5
INTdirector | SPRING 2012
OVERSEAS LONG STANDING MEMBERS
The International Division
Council takes pleasure
in acknowledging those long
standing members who have
achieved the milestones of
continuous membership.
Mr Chuen Ching GAICD
CLP Power - CRM Project
Hong Kong
Mr David Cox MAICD
Steamships Limited
Singapore
10 years
Mr Detlef Fischer GAICD
JCU Singapore
Singapore
Dr Sheryl Coughlin MAICD
Deloitte Center for Health Solutions
USA
Mr Gareth Gumbley MAICD
Wright Express
United Kingdom
Mr Ajith Kodagoda MAICD
J Patel Group
Fiji
Mr Ian Tarutia MBE FAICD
National Superannuation Fund
Papua New Guinea
Mr Andrzej Sedek GAICD
Thomson
Singapore
Mr John Marker MAICD
Rock Point Corporate Finance Ltd
New Zealand
Mr Anthony Davis Gaicd
Rolls-Royce Singapore Pte Ltd
Singapore
Mr Leslie Matheson MAICD
Royal Bank of Scotland
United Kingdom
Mr Arthur Aynsley Gaicd
Ireland
Mr Luke Miels FAICD
Roche Pharmaceuticals
China
Mr Boyd Robinson AM FAICD
USA
Mr Cesar Villanueva FAICD
Governance Commission for GOCCs
(GCG)
Philippines
Mr Donald Ambrose FAICD
New Zealand
Mr Mario Gatus FAICD
Drake Beam Morin (Phils) Inc
Philippines
Mr Nicholas Scarf MAICD
Newedge Financial
Singapore Pte Ltd
Singapore
Professor Gregory
Whittred MAICD
University of Auckland
Business School
New Zealand
Mr Mark Dickson FAICD
Saudi Arabian Parsons Limited
Saudi Arabia
Mr Rodney Naylor GAICD
Veolia Water North America LLC
USA
Mr David Archer FAICD
Crusader Resources Ltd
United Kingdom
Mr Garry Willinge Adjunct
Professor FAICD
Cbridge Limited (Hong Kong)
Hong Kong
Mr Gerardus Spiel FAICD
Hassad Foods
Qatar
Mr Scott Burdett MAICD
Fortis Bank Hong Kong Branch
Hong Kong
Mr Ian White FAICD
Canadian Wheat Board
Canada
Mrs Vanessa Stoddart GAICD
Air New Zealand
New Zealand
Mr Leslie Hayman FAICD
ROC Group
France
Ms Toni Brendish GAICD
Danone Dumex Malaysia (M)
MALAYSIA
Mr Michael Dowling FAICD
Eclat Capital
Singapore
Professor Shaun Coffey FAICD
Industrial Research Ltd
New Zealand
Mr Paul Watson FAICD
Leighton International Ltd
United Arab Emirates
20 years
Mr Philip Franklin MBE FAICD
Morobe Mining JV
Papua New Guinea
Dr Robert McEwin FAICD
Competition Consulting Asia LLP
Thailand
Mr Colin Yow MAICD
Ytf Consultants
Singapore
Mr William McGowan FAICD
Fastway Couriers Group
New Zealand
Mrs Heather Loewenthal FAICD
United Kingdom
Singapore Committee Members 2013
Peter Church OAM FAICD
(Committee Chairman)
Group Chairman
AFG Venture Group
Penny Burtt MAICD
Head Public Affairs, SE Asia
and External McKinsey & Co
Phil Forrest FAICD
Managing Director, Singapore and
Thailand, Omega Performance
Lyn Boxall MAICD
Business Consultant and Former
Managing Director, APAC,
Business Software Alliance
Adam Hutchinson MAICD
Director of Mergers and
Acquisitions, Asia Pacific,
Aviva Asia Pte Ltd
6
L-R Phil Forrest, Peter Church, Penny Burtt, Adam Hutchison, John Colvin, Lyn Boxall and Suzanne Ardagh
INTdirector | AUTUMN 2013
DIRECTOR PROFILE
as my main focus, leading to
consolidated activities from
them, across the region and
into the Middle East.
Owen Eather
FAICD
Director
International Resource
Consultants Limited
Member since 1989
Tell us about your move
overseas from Australia –
what took you overseas and
how did it happen? What are
you doing now?
My first move was with
the Regular Army and
“following orders”. It
meant I was professionally
engaged with Asia from the
age of 23 in a demanding,
no nonsense fashion that
accommodated the local
scene with uncompromising
organisation goals, a recurring
occupational feature.
A partnership with an
International Executive Search
network saw this intensify in
the ‘90s, with a minimum of
ten visits annually to manage
assignments as the Asia
Pacific partner and Director on
its International Board. This
culminated with an in house
appointment to advise the
President of PCA Insurance,
Japan. It was followed by
invitations as a Director on
Hong Kong and Asia focussed
Australian companies, with
much high order synchronising
of separate deal elements
What are the key issues or
challenges in your current
environment? Are there vast
differences to that which you’d
experience in Australia in your
particular area of expertise?
The fundamental dissimilarity
in Asia and Australia, as
part of Western Culture,
is the quite marked value
differences between Confucian
and Socratic, or Western,
thought. Both have similar
and concurrent periods of
pervading influence, both their
originating philosophers living
within a hundred years or so
of each other. Confucianism is
pervasive in all Asian activity
and can be characterised as
“Prescriptive Collectivism”,
and Socratic, “Questioning
Individualism”. Grasping this,
to me, has been the key to
understanding and commercial
accomplishment in Asia.
There may be a developing
model of business that will
merge and balance these
diverse approaches, but I don’t
see it on the horizon. So, the
challenge is to recognise this
in your Asian colleague, as he
must with you, not let them
become “log jam” obstacles
and apply flexibility in two
way dealings.
What personal attributes
do you think are required of
directors who work across
international environments
or multi-regulartory
jurisdictions? Are their skills
which are essential to working
in an international context?
Usually the Common Law
approach applies in former
British and United States
administrations and which is
familiar to Australians. Japan
has a similar approach to
Europe in that it adopted the
Napoleonic Code model during
modernisation, with many
traditional aspects overlaid.
Any director following the
fundamentals of Fiduciary
Duty, which is, to act honestly
and in the interests of the
organisation, will always avoid
problems. Local regulatory
advice is essential.
Clear cut and focussed
thinking is what I try to bring
to my Asian appointments,
free of any bias or
preconceptions. This is what
local directors seek, together
with that thinking delivering
comment on local situations.
We are famous for straight
talking, provided it is not
dismissive or condescending.
It should go without saying,
but, employ clear, simple and
well pronounced English.
Highlights and the most
rewarding part of your
International career.
Probably, to my surprise,
was being named by “The
Economist”, in their 1995 and
’96 surveys of International
Executive Search, as one of
nine “Leading International
Consultants”, in Australia.
It confirmed, to me, that I
must be delivering value to
my clients and to those of my
International partnership in
referring theirs’ to me, for all
of Western Pacific. Gaining
Fellowship in the Institute is,
also, a mark of professional
recognition in Commerce I
value highly.
The period in Tokyo, helping to
take a very traditional Japanese
Life Insurance company,
organisationally, to a point
where it was able to merge
with the Global Management
techniques of its parent,
Prudential Insurance, United
Kingdom, must be a high point
of my strategic, rather than
process oriented, approach
to delivering hard results in
organisationally soft areas.
It continued profitably and
made great structural, product
and marketing changes, all
within two years, a record in
Japan’s business culture.
Challenges encountered and
advise to others thinking of
overseas work.
Firstly, stay true to yourself
and your style. Don’t rush in
and don’t get bamboozled by
those pushing the “Japanese
Way”, or the “Chinese Way”,
or any other set of behaviours
that must be worshipped
without question. Listen,
observe, ask questions and
make local friends – wisdom
will flow from that.
“Remember that
Australian managers
and professionals are
among the best in the
world and we have much
to offer, albeit without
making a fuss.”
Remember that Australian
managers and professionals
are among the best in the
world and we have much to
offer, albeit without making
a fuss. We also are known
for being no nonsense and
energetic, so keep these
attributes to the fore. In the
end, deal with people as you
expect others to deal with you.
Working overseas, especially
in Asia given its central role
in World economic activity,
is always going to give an
individual benefits that
make the initial discomfort
well worth it. There are
opportunities in these large
and thriving economies on our
doorstep that should beckon
and not dismay.
7
INTdirector | AUTUMN 2013
DIRECTOR PROFILE
Christopher
Chong FAICD
Director
ACH Investments Pty Ltd
Member since 2001
They say that childhood shapes
you. In which case, what does
moving countries every three
years and having been to eight
schools mean?
Dad was a foundations specialist
and as few countries need more
than one new airport at a time
we got to be experienced house
movers. I always found travel fun
and even today I travel extensively.
I received my Chartered
Accountancy with the Scottish
Institute in Edinburgh. Post
qualification, and during a formal
dinner where all the Scottish
members were expected to
wear a kilt, I remember thinking
that a sporran and brown legs
are not a good match but more
importantly, audit and me were a
poor marriage. This realization led
to a MBA at the London Business
School, a stint at the Univeristy
of Chicago, joining Robert
Fleming and accepting a posting
back to HK with their Jardine
Fleming jv (now JP Morgan).
It must have been my academic
bent because my first (and for
the next 14 years) job was in
research. Unlike today’s minefield
of insider trading legislation,
analysts then were involved with
almost everything. Not surprising
given that networking and
information were a formidable
combination. A good analyst was
thus part broker, part corporate
financier and part wholesale
banker. After a year at Jardine
Fleming, I was poached by HSBC
where I stayed until we started
ACH. I worked for HSBC in Hong
Kong and as a director at their
jv company, Kay Hian James
Capel (now UOB Kay Hian) in
Singapore. It was a heady time
with the emerge of Asian equity
markets and the opening of
China. I still vividly remember the
poverty that was Beijing in the
mid 1980s and the extremely low
knowledge base of people I was
advising at the SICC (predecessor
of the Shanghai Stock exchange).
The change has been spectacular:
from Russian built hotels to 6 star
luxury; from ‘what is profit’ to
schemes that would blanche any
regulator’s face.
In 1998 a group of friends
and I decided to start ACH, a
specialist boutique. We designed
the company to be a bespoke
Are you looking
to further
your global
director status?
For more information or to enrol visit
companydirectors.com.au/icdc
8
tailor to the corporate world.
ACH is not a fund raiser but
have found that our chain of
international brokers have no
problems finding monies for good
deals. I also sit on seven listed
company boards. This sparked an
interest in corporate governance
and security law. This in turn has
seen me accept a position on
the advisory board on Temasek’s
Centre for Corporate Goverance
and Stewardship and as an
advisor and expert witness for
the CAD and the MAS.
Along with starting up ACH,
the family also decided to try a
life on the land. We developed
a 49,000 tree apricot orchard,
for which my wife Heather won
the Telstra (Tasmania) business
woman of the year award. We
have not regretted moving to
dear old Tassie and onto the land
though with Heather being an
alderman (Clarence Council) and
also serving on several broads
including AICD Tasmania, we
wonder at the mirage of sitting
back with ‘no worries’.
International Company
Directors Course 2013
Further your global director status
by gaining the essential skills
and knowledge that will boost
your performance and have a long
lasting impact on your director
development.
Shanghai
9 - 14 June 2013
Singapore
29 August - 3 September 2013
Indonesia
21 - 26 November 2013
INTdirector | AUTUMN 2013
Jakarta Roundtable Members event
Following the successful launch
of Company Directors’ members
group in Jakarta this year, a
Roundtable Board Lunch was
hosted by local firm, Susandarini
& Partners, in conjunction with
Norton Rose.
The lunch featured a “hot”
topic, one that had previously
been successfully delivered to
members in Singapore and Hong
Kong in 2012. This was the first
in a series of mini-briefings to
be delivered in Jakarta on the
challenges and opportunities of
doing business in Indonesia.
The topic, “Navigating the
Maze,” was presented by
Wilson Ang, Special Counsel,
from Norton Rose, who had
successfully moderated previous
briefings on this topic in
Singapore in 2012.
The discussion delved into
the maze of anti-corruption
laws affecting businesses in
Indonesia and key issues which
emerged included;
• Contract sanctity;
• Operational risk –
time pressures being used
to extract gains;
• The influence and effectiveness
of lobby groups;
• Codes of conduct and their
impact on staff;
• Compliance program
Best Practice.
The highly engaging and
innovative style of Wilson
Ang, the moderator, managed
to elicit many comments from
the guests, encouraging them
to share their insights and
perspectives. Participants at the
lunch were invited to contribute
according to their allocated
lunch menu (see insert).
Our thanks to the team
at Norton Rose Jakarta and
Susandarini & Partners and
special thanks to Wilson Ang
for an outstanding culinary
presentation.
NT Sreekanth, Bonie Guido and Muchamad Nasrun MAICD
Appetizer
Soup of introductions
Risk management salad
to be followed by
Entree
Chargrilled costs
consequences with
poached penalties
Rack of anti – corruption
laws with extra territorial
gravy
Eko Prasetio, Bonie Guido, Susandarini
with Suzanne Ardagh MAICD and Wilson Ang
Dessert
Compliance ice cream with
ethical sauce
Pitfall pudding
Sheree Ford of Pexco NV and Shamim Razavi of Norton Rose
Company Directors' Directors Roundtable
Company Directors' Directors Roundtable
9
INTdirector | AUTUMN 2013
Australian Ambassador hosts reception
for Company Directors in Jakarta
The Australian Ambassador to
Indonesia, His Excellency Greg
Moriarty, hosted a dinner for 25
Company Directors members in
Jakarta, launching the activities
of the Institute for 2013 and
to bring the members together
to meet the CEO, John Colvin.
Also in attendance at the
dinner was Austrade Executive
Michael Abraham who was
also visiting Jakarta and Penny
Burtt, Singapore Committee
Member who was also in town
at that time.
It was a very engaged group
who took the opportunity
to make new friends and
reacquaint themselves with
old friends at the Residence.
The spread of professions and
industries was extensive, but the
predominance of Directors from
extractive resources industries
reflected the nature of the
relationship between Indonesia
and Australia.
The Ambassador spoke in
favour of Company Directors’
activities and the strategic
focus on Indonesia to develop
relationships and deliver education
which closely matched those of
the Australian Government.
Our thanks in particular to
Kym Hewett from Austrade
for facilitating this event and,
of course to the Australian
Ambassador who generously
hosted this event.
Future events are planned
in Indonesia, including
roundtable lunches and the
delivery of an International
Company Directors Course in
Bali in November 2013.
Dinner at the Ambassadors residence in Jakarta
Are you ready to take
the challenge?
Perth – Mastering the Boardroom Information Session
Mastering the Boardroom is being held in Perth for the first
time from 30 July - 2 August and we encourage interested
members to join us at a free information session where you can
learn more about the program and its benefits and hear from a
past participant.
Date: Monday 13 May
Time: 5.00pm - 6.00pm
Location: Australian Institute of Company Directors, Perth
Mastering the Boardroom is our most advanced program,
designed especially for directors who have at least three years'
experience and have completed the Company Directors Course.
If you haven't completed the Company Directors Course we
recommend you have at least five years' director experience in
order to get the most out of the program's practical nature.
Other Mastering the Boardroom dates and locations include:
Sanctuary Cove, 17 - 20 September
For more information e: [email protected]
w: companydirectors.com.au/mastering
10
INTdirector | AUTUMN 2013
International Company Directors Course,
Abu Dhabi - a director perspective
By Kirstin Ferguson
March 2013
I am a non-executive director
on a diverse range of boards
and was fortunate enough
to be awarded the Talbot
Foundation Scholarship by
the Australian Institute of
Company Directors in 2012.
This scholarship provided me
with the opportunity to attend
the International Company
Directors Course which I have
just completed in Abu Dhabi,
United Arab Emirates.
“Simply attending an
international governance
course outside of the
country you reside in,
wherever that might
be, reminds you explicitly
of the importance of
being a director in the
global context. The
five day International
Company Directors
Course was a brilliant
experience and one
that provided me with
the ability to further
expand my professional
development as a
director alongside an
incredibly diverse group
of professionals.”
Simply attending an
international governance course
outside of the country you
reside in, wherever that might
be, reminds you explicitly
of the importance of being a
director in the global context.
The five day International
Company Directors Course
was a brilliant experience and
one that provided me with the
ability to further expand my
professional development as a
director alongside an incredibly
diverse group of professionals.
The expat participants were
working in locations as diverse
as Singapore, Dubai, Stockholm,
Abu Dhabi and Australia.
This meant that the anecdotes
we were able to share during the
course were incredibly relevant
and brought to light issues of
operating across countries and
cultures which were invaluable.
I am fortunate to have
graduated from the Company
Directors Course in Australia as
well as now having graduated
from the International
Program in Abu Dhabi. What
I appreciated about the
International Program was
the focus on operating in an
international context. This
enhanced the ability to work
on case studies that went well
beyond the Australian context.
In addition, having such a
diverse set of backgrounds
and experiences amongst
participants also provided the
course with greater insight
into the impact of culture
on board dynamics, contract
negotiations, assessment of risk
and the impact of social licence,
to name a few.
I thoroughly recommend
the International Company
Directors Course to any
future or current director who
is looking to further their
professional development. The
course is of the highest quality
with facilitators who are able
to engage all course members
in the material they have to
share. If you are operating in
the international environment,
this course will equip you very
well for the often challenging
waters you are sure to navigate
as a director working across
the globe.
I am sincerely grateful to
the Australian Institute of
Company Directors and the
Talbot Foundation for providing
me with this professional
development opportunity
and learning experience.
Kirstin Ferguson GAICD, Ivan Holyman FAICD,
Emma Shand MAICD and Lyn Boxall MAICD
CDC Abu Dhabi
11
INTdirector | AUTUMN 2013
International director network releases
landmark paper on board diversity
Michelle Wood
Media and Government Relations
Advisor, Company Directors
February 2013
The Global Network of Director
Institutes (GNDI) recently
released their joint policy
perspective setting out the
significant and positive impact
a diverse board can have on
business outcomes and arguing
that mandatory quotas is not
the most effective way to
improve board diversity.
At the release of the policy
paper, Chair of GNDI and CEO
of the Australian Institute of
Company Directors, John Colvin
FAICD said that the paper
highlights that improvements
to board diversity should
be driven by recognition of
the benefits of diversity.
“Board diversity is an
important governance issue but
is a means to an end, not an
end in itself,” said John Colvin.
“If all individual directors on
a board view issues in a similar
way, there is a risk that the
board will approach issues too
narrowly, suffer from “group
think”, or fail to adequately
consider and evaluate alternative
12
ideas or options in relation to
the organisation,” he said.
“Boards that are composed
of directors with different
perspectives, experience,
backgrounds and views in
relation to issues affecting the
organisation, may contribute
to better problem solving and
decision-making, foster greater
innovation, and enhance
board effectiveness and
performance,” said Mr Colvin.
The paper emphasises that
diversity encompasses, but is
not limited to, gender, ethnicity/
race, nationality, religious
beliefs, cultural or socioeconomic background, and age.
It reflects a clear view from
the director institutes of the
GNDI that because systems
of organisational governance
vary significantly around the
world, the approach that each
organisation takes to diversity
will vary; all organisations
are different and there is no
“one size fits all” formula.
“Each organisation must
examine its individual
circumstances, existing board
composition and should ideally
conduct a skills gap analysis
to determine its specific
needs,” said Mr Colvin.
“For this reason, the GNDI
does not support mandatory,
externally imposed quotas and
argues there are many other
effective mechanisms to improve
board diversity,” he said.
Initiatives and practices
which may be employed by
organisations to increase the
diversity of their boards could
include establishing diversity
policies and objectives,
improving transparency in board
selection and appointment
processes, and implementing
board evaluation processes that
assess the board’s performance
and the potential contribution of
diversity to board effectiveness.
“Companies could also
better encourage diversity
throughout the organisation,
especially in the ‘pipeline’
of middle and senior
management,” said Mr Colvin.
In Australia, the Australian
Institute of Company
Directors has put in a place a
number of concrete measures
aimed at helping to achieve
greater gender diversity on
Australian boards which,
along with the ASX Corporate
Governance Council’s Principles
and Recommendations on
Diversity, have contributed
to the real progress that is
evident in the latest figures.
Measures include our
preeminent Chairman’s
Mentoring Program, our newly
piloted Public Sector Mentoring
Program, the highly successful
Board Ready program, the
Company Directors-Federal
Government Board Diversity
Scholarship and the Victorian
Women’s Governance Scholarship
Program. We also published
‘Tomorrow’s Boards – Creating
balanced and effective boards’
which provides practical
guidance on how to build a
diverse and vibrant board.
Today, women make up
15.4 per cent of roles on the
ASX 200, up from 8.3 per cent
just three years ago.
Read the GNDI policy
perspective paper on board
diversity at gndi.org/papers.
For further details please contact:
Michelle Wood, Media and
Government Relations Advisor,
(02) 8248 6612 or 0466655115,
[email protected]
INTdirector | AUTUMN 2013
Asia’s mix of new and old
corporate governance standards
Excerpt from the
Boardroom Report
Volume 11, Wednesday 3 April
Singapore continues
to improve its corporate
governance practices, outpacing
countries like Hong Kong and
Thailand in the Corporate
Governance Watch's 2012
ranking of Asian markets.
Indonesia, however, has
regressed, replacing the
Philippines as the worst
performer in this survey of 11
Asian countries, compiled by
the Asian Corporate Governance
Association (ACGA) and
CLSA Asia-Pacific Markets.
Commenting on the survey's
findings at briefings in Sydney
and Melbourne last week, ACGA
secretary general Jamie Allen
says Singapore secured its top
place ranking in 2012 (it was also
number one in 2010) because of
the significant regulatory changes
it went through in 2011-12.
“Allen describes Asia as
"a stir fry of new and old
corporate governance
standards"... Most new
corporate governance
reform ideas are
borrowed, to varying
degrees, from outside.
There has been little
regulatory innovation to
date in Asia.”
Despite this, he says
Singapore still fails to embrace
international best practices in
all areas – for example, when
it comes to AGMs, reporting
deadlines and communication
with shareholders.
According to Allen, the
Monetary Authority of
Singapore could be tougher
on insider trading. And, while
Singapore's government
had a clearer and more
consistent policy on reform
than Hong Kong's, it could
be more transparent.
Allen says neither Singapore
nor Hong Kong (which ranked
second best in the survey)
has a world-class system of
corporate governance and
both have had their share of
scandals, frauds and poor IPOs.
Allen says Singapore's total
score was higher than Hong
Kong's in 2012 because:
• Its government paid greater
attention to reform in 2011-12.
• It enjoyed improved
regulations and
regulatory enforcement.
• The participation of retail
shareholders in its markets
was maturing.
• It has had an independent
audit regulator for many years.
Although Hong Kong outflanks
Singapore in the quality of its
regulatory enforcement, and
scores higher on some rules
and regulations, Allen says it
suffers from the following:
• No clear government strategy
on corporate governance.
• Excessive tycoon influence on
regulatory policy.
• No properly independent
audit regulator.
• No organisation representing
minority shareholders.
China ranked ninth in the
2012 survey (down from joint
seventh in 2010). Allen says
the China Securities Regulatory
Commission (CSRC) continues
to amend regulations (for
example, IPO valuations), but
core corporate governance
rules have not kept pace with
regional or global best practices.
And, not all China's regulators
reforms or actions have been
positive (for example, IPOs were
suspended in October 2012).
He adds that much
enforcement in China still
involves fines and warnings
for disclosure breaches and
limited progress has been
made against insider trading.
"Individual government
agencies are working to improve
corporate governance, but
their efforts are undermined
by a lack of coordination
and controls on the flow of
information... Communications
with shareholders seems to be
improving, but disclosure of
corporate governance practices
remains heavily formulaic and,
at worst, misleading. Details
on the implications of state
ownership are also lacking
and private sector corporate
governance is not great."
Allen describes Asia as "a stir
fry of new and old corporate
governance standards".
He says: "Most new corporate
governance reform ideas
are borrowed, to varying
degrees, from outside. There
has been little regulatory
innovation to date in Asia.
"North Asian regulators tend
to dismiss good ideas from
within the region (for example,
Hong Kong's rules on relatedparty transactions and Thailand's
tougher approach on corporate
criminals. They want to base
their rules on the US or Europe.
"South East Asia, on the other
hand, is witnessing more crossborder regulatory cooperation
and some degree of innovation."
While there is much glib
“While there is much
glib admonition against
"one size doesn't fit
all" practices on board
governance, Allen
says all new reforms
look largely the same.
Most of the countries
surveyed have boards
of directors shaped from
a mix of legacy and
colonial regulation with
diluted versions of new
international standards.”
admonition against "one size
doesn't fit all" practices on
board governance, Allen says
all new reforms look largely the
same. Most of the countries
surveyed have boards of
directors shaped from a mix of
legacy and colonial regulation
with diluted versions of new
international standards.
"For investors, the concept
of 'Asia' is not a meaningful
analytical tool in corporate
governance. You need to look at
countries and then companies,
not regional generalities."
13
INTdirector | AUTUMN 2013
A practical approach to director’s
cultural challenges in Asia
Didier Guérin MAICD
President and CEO
Media Convergence, Asia-Pacific
Member since 2008
Part 2: At the
Board – behaviour
and management
Dealing with obstacles and
challenges are not a Western
monopoly. They will occur as
frequently, if not more often
in Asia. The best approach to
solve them is to abandon the
Western values of individuality
and personal achievement and
to become more Chinese (or
more Asian) than the Chinese.
As explained before1, the need
for Mianzi (saving face, status
and honour) will have to drive
the motivation and action of the
Western director at the board
meeting. Leaders do not exist
by the rights they have to make
decisions, but by the obligations
they have to preserve the group.
Therefore, the preparation is
usually more important than the
occurrence of the meeting itself.
The slightest conflict cannot
take place at the meeting.
Everything in its minute details
has to be dealt with before
the meeting in order to avoid
surprise. Even the agenda has
to be presented as a draft well
in advance with requests for
comments and suggestions. It is
also essential to provide as much
information as possible to the
other directors in order for them
to be comfortable with the issues.
If any disagreement is perceived,
it must be solved before the
14
meeting. In case the disagreement
appears to be substantial, it is
better to send a middle level
executive, or a consultant, to
meet the other directors to try
and find an understanding. An
emissary will always be accepted
provided he or she is driven by
the always constant “win-win”
motivation and appearing as a
friendly non-decision maker.
Conversely in the West, we
tend to establish systems and
procedures to prevent or presolve problems, in Asia (and even
if the same set of systems are in
place), the personal intervention
will always prevail. Decisions
are made by consensus, not
by compromise. Therefore it
takes a lot more time to make
decisions than in the West. My
advice is to multiply by two –
the time you would normally
expect to deal with an issue.
Then multiply by four if you
have to use an interpreter.
But this apparent loss of time
upfront, will save precious time
during the meeting and will help
to avoid direct confrontation
which is always difficult to
handle in this cultural context.
The irony is that Western
directors have to evolve
in an environment where
the concept of corporate
governance is fluid. The basic
principles of transparency,
discipline, disclosure and proper
communications with the
shareholder must be frequently
emphasised as they do not
always appear essential in Asia,
still driven by the main values
of Confucius. As presented
separately2, CLSA Asia Pacific
has surveyed 11 countries’ public
companies to find that the most
reliable places to follow some
level of corporate governance
integrity were Singapore, Hong
Kong and Thailand, followed
by Japan equal with Malaysia,
then Taiwan, India, Korea
and China. The worst last two
countries are the Philippines,
slightly improving, and
Indonesia, slightly worsening.
Finally, what happens after
the board meeting is equally
important as the meeting itself.
It is the time to celebrate and
acknowledge people – don’t
avoid the banquet which
will most likely have been
planned – and to confirm
your commitment, long term
to the company. You cannot
have winners or losers, but
always win-win situations.
As Paul Cheng, a Hong Kong
Chinese entrepreneur who has
had several board memberships
of large companies in Asia,
wrote: “In China, everything is
possible, but nothing is easy”3.
Didier Guérin has experienced
the challenges of communicating
with fellow directors in various
different cultures. He has been
a Member of the Board of
several media companies in
Japan, Taiwan, Hong Kong,
Thailand, Australia and the US.
“A Practical Approach to
Director’s Cultural Challenges
in Asia – Part 1” INT
Director – Summer 2013
1
AICD The Boardroom Report –
Volume 11, issue 6, 3 April 2013
2
“On Equal Terms: Redefining
China’s Relationship With
America an d the West”,
by Zheng Mingxun, John
Wiley & Sons, 2011
3
INTdirector | AUTUMN 2013
Developing your director career
– half day workshops
Insights every aspiring director needs to know
Hong Kong
Tuesday 9 July 2013, 9.00am - 12.00pm
Facilitated by Steven Cole FAICD
Sponsored by The Women's Foundation
Singapore
Tuesday 11 July 2013, 9.00am - 12.00pm
Facilitated by Steven Cole FAICD
Sponsored by BoardAgender
Members: $300.00 Non-members: $500.00
Sponsored by The Women’s Foundation and BoardAgender
To register e: [email protected]
Fiji Business
Briefing
New Fiji Companies Decree
The new 2013 Companies Decree does
not simply amend the old Act but
is a complete rewrite which adopts
significant reforms. Hear about the
subsequent changes relevant to your
company in areas such as:
• Directors and officers including
directors’ duties
• Financial reporting obligations
• Regulators and the penalty regime
• Transactions involving share capital
and capital raisings
• Incorporation and insolvency
Thursday 25 April 2013
5.15pm - 8.00pm
Facilitated by Bruce Cowley FAICD
To register visit e: [email protected]
15
INTdirector | AUTUMN 2013
Diary dates
For all enquiries or to register companydirectors.com.au/events
Courses enquiries contact Fiona Currey t:+61 2 8248 6690
Events enquiries contact Lauren Jackson t:+61 8 9320 1700
Courses and
4 - 7 May
8 - 10 May
9 - 14 June
29 Aug - 3 Sept Mastering the Boardroom
Singapore
30 DPD Units – Core
National
Conference
Singapore
20 DPD Units – Core
International Company
Directors Course
Shanghai
40 DPD Units – Core
International Company
Directors Course
Singapore
40 DPD Units – Core
Events
9 July
Workshop:
Your Director Career
Hong Kong
5 DPD Units – Individual
7 May
15 May
International Members
Pre-Conference
Networking Evening
Singapore
Member Networking
Event with John Colvin
Hong Kong
11 July
Workshop:
Your Director Career
Singapore
5 DPD Units – Individual
Strapped for time?
Try a webinar
21 - 26 November
International Company
Directors Course
Indonesia
40 DPD Units – Core
Our webinar series has been carefully
crafted to address some of the most
pertinent director topics including:
• The role of the not-for-profit director
• Getting started as a director: key
considerations before accepting your
first appointment
• Signing off company financial accounts
• The benefits of good governance for
SMEs (recording only)
• The future of superannuation
governance (recording only)
• IT governance rules in a changing
world (recording only)
60 to 90 minutes in length, our webinars
are to-the-point and include a 'live chat'
function where your questions and
comments will be addressed in real-time.
You'll find our webinars easy-to-use
and accessible from any computer with
internet access.
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For more information visit
companydirectors.com.au/webinars