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Press Release: Finding the formula for future leaders – Science and technology university launches unique master’s program

SINGAPORE, May 26 – The digital world is facing a crisis that has at the same time opened new windows of opportunity. To tackle the shortage of potential leaders joining the digital sector, the Schaffhausen Institute of Technology (SIT) has crafted a new course: Masters of Science (MSc) in Computer Science and Software Engineering – to better prepare graduates for leadership roles, specifically within the IT and science disciplines. Launching in September 2020, the newly developed program is available for students with bachelor’s in computer science or software engineering who have ambitions to be a part of the next generation of technical leaders.

A new master’s in Computer Science and Software Engineering course from the Schaffhausen Institute of Technology (SIT) will be officially announced on May 26th, 2020 at a virtual conference. This is the first master’s program to be launched by SIT — a newly formed university based in the technology hotspot of Schaffhausen, Switzerland. SIT was founded by entrepreneurs and global thought leaders, and is focused on bridging the gap between education and industry.

Chaired by Acronis CEO, Dr Serguei Beloussov, SIT and its syllabus have been specifically developed to tackle current challenges in the IT, physics, and business industries, including the shortage of future leaders joining the software sector.

“The SIT program will prepare graduates to manage software engineering projects within their own businesses, research organizations, or corporations. We blend science and practical needs to bring knowledge to anyone. Combining computer science, quantum technologies, and new materials will give graduates a strong foundation to develop innovative solutions. Scientists and business leaders from the SIT’s Board of Directors will help connect students with leading technology experts and build up relations with successful technology companies,” says Dr Serguei Beloussov, Founder of SIT.

With studies suggesting that a vast majority of computer science courses do not adequately prepare graduates for CTO or CSO-type leadership positions, the SIT MSc in Computer Science and Software Engineering course has been strategically developed with leadership in mind and connected to world-class research expertise.

SIT’s master’s program meets the traditional Bologna European system standards for higher education. Based on a two-year curriculum of full-time study (or a fast-track three-semester curriculum), the course follows the traditional academia year and is therefore ideal for students currently graduating with a bachelor’s in science or engineering. The course will also uniquely offer students more freedom to learn directly at the SIT campus, or through an agile flip-blended eLearning teaching style designed to meet the different needs of on-site and remote students.

The thesis required to complete the master’s degree can be written based on the student’s experience in their own start-up business, with access to the SIT techpark and investors, or at one of SIT’s business network partners, as well as in the SIT leading research laboratories. This level of engagement with businesses is extremely rare in highly technical master’s degrees from other prestigious specialist universities.

More details on the new master’s in Computer Science and Software Engineering course will be announced at the SIT Virtual Nano Conference, which will feature world-class speakers sharing their expertise in the fields of IT, science, and business. These include Nobel Prize Winner and Chairman of the Advisory Board in SIT Prof. Sir Kostya Novoselov, Acronis Executive Officer and the founder of SIT Dr Serguei Beloussov, Professor of Software Engineering at the SIT Prof. Mauro Pezzè, Professor of quantum physics at the Mathematical Institute, University of Oxford Prof. Artur Ekert, and Former Chief Polygraph Examiner and Interrogator Dr Barry L. McManus. Keynote sessions as well as panel discussions will be held on topics including quantum computing and cyber security.

About SIT: With its pioneering curriculum, the Schaffhausen Institute of Technology (SIT) offers a new model of education. Focusing on the most important areas of technology, SIT will drive research, development and innovation in a next generation learning and research environment. Using state-of-the-art facilities, SIT’s students, researchers and business allies will address large-scale world problems by developing a technology curriculum based on global issues.

Some of the world’s greatest minds have already bought into SIT. The initiators of SIT are a team of entrepreneurs, education specialists, and scientists brought together by initial investment by Acronis AG, a cyber protection company, located in Schaffhausen and Singapore.

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Singapore-Based Startup, iTask Lists “Renting-a-Friend” During the Festive Season in The Top 10 Freelance Jobs in Singapore

SINGAPORE 16 December 2019 -Singapore based technology start-up iTask releases their findings with compilation of a list of top 10 freelance jobs only found in Singapore during the festive season.

To our surprise, renting-a-friend ranks number 9 in Singapore’s top freelance jobs. This market seem to grow acceptance in Singapore society. Fee could go as low as SGD 20 per hour.

iTask is an on-demand talents service marketplace mobile app platform creates the opportunity to improve the community’s living quality.

Here are the top ten unusual freelance jobs that arose from the hype of these two festive seasons:

#1 Spring Cleaning Helpers

Everyone expects their homes to look smack and clean during the festive season, however, not many bears the desire or motivation to perform the task of spring cleaning. A simple solution would be to engage the services of freelance cleaning professionals to do the job with no worries about cleaning up the mess after wild Christmas-eve parties, or fears of homes being not presentable enough for relatives and friends. The professional cleaning aunties and uncles will handle the task easily and prices start from $55 for a three-hour general cleaning service.

#2 Gift and Hamper Wrappers

Wish to wrap an impressive Christmas gift or a Chinese New Year hamper for business clients and associates but lack the proper gift-wrapping skills? Lack the time to buy gifts? An alternative would be to outsource these tasks to a freelancer and let them work their magic. Prices start from $8 per task.

#3 Courier Services

Gifts and hampers wrapped but do not have the time to deliver these personally? Just engage the assistance of a personalised courier service provider. Do note that such services are high in demand during the festive season; hence, try to book the services in advance. Prices start from $5 per item-basis task.

#4 Tuition and Enrichment Activities

The holiday season may not be a relaxing period for children with ‘tiger’ parents who have high hopes and expectation. While some parents may bring their kids out on recreational trips, some parents may wish to send the kids for extra tuition and enrichment classes. This is true kiasu-ism in the workings! Hence, during the holiday season, the demand is high for freelance tuition professionals and enrichment teachers such as a piano teacher. Prices start from $10 per lesson.

#5 Pet Sitting Services

Planning an overseas Christmas holiday or an ‘escapade’ from giving out too many hongbaos during Chinese New Year and need somebody to take care of the furry friends while away? Consider freelance pet sitting services where pet-sitters drop by to feed your paw buddies or take them out for a walk. Rates start from $10.

#6 Buying Groceries From Johor Bahru

Planning to stock up the low-cost groceries from JB for the upcoming Chinese New Year? Engage a freelancer to buy groceries from our neighboring city, for a small fee. Services like these allows for cheaper purchases minus the hassle of queueing at the customs. Prices start from $10 per task.

#7 Bakkwa Buyer

This is another hot-on-the-list request for freelance service providers in recent years. Not wanting to join the queue from a prestigious brand but as a bakkwa connoisseur who cannot survive a CNY season without bakkwa? Engage an errand provider who will queue many hours to buy the best bakkwa for your behalf! Prices start from $10 per errand.

#8 Picnic Set-ups

Wish to have something special for your Christmas party, New Year countdown or even Valentine’s Day? A pretty picnic set-up will definitely pump up the festive mood. There’s never a limit to how you can celebrate any occasions over picnic! Different packages and themes for you to choose from. What you need to do is just dress things up all nice and pretty for an Instagram-worthy-photos. Let the memories stay. Don’t be surprised if you get more likes for your FB & IG than your friends have. Packages start from $130.

#9 OMG… Rent a Friend / Date

No joke! This is also in the list! For all the ‘self-partnered’ people (thanks to Emma Watson for coining this term.) out there, there is an opportunity to rent a friend for the next Christmas or Chinese New Year gathering. Fees for renting a friend starts at $20 per hour. [minus any illegal and naughty stuff]

#10 Mental Supporter or Someone To Share Deepest Secrets With

The festive season are definitely a stressful period, either due to preparations and the mad rush of getting things done on time. Many seek a mental supporter or a companion to share with their worries and secrets with. Either a face-to-face session or via a personal listening service. Rates start from $10 per hour.

So here are the top ten unbelievable freelance jobs ONLY found in Singapore!

Source: Media OutReach 

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PwC study finds Singaporeans are second most anxious about the future impact of technology on their jobs

Source: PwC Singapore

September 2019, Singapore – Technology is changing the way people work and two in five Singaporeans (18%) are scared or nervous about the future impact of technology on their job. The city-state’s workforce as second most nervous or scared globally, just behind French workers (20%) and tied with the British (18%).

These findings are from a new PwC report, Upskilling Hopes & Fears, which surveyed 22,000 adults across 11 countries worldwide, and build on PwC’s economic analysis on the impact of automation on jobs.

Singaporeans are starting to see the impact of technology on work and jobs. As a smart-nation, the pace of technological advancements is expected to be faster than neighbouring countries in South-East Asia, and both government and the private sector are adopting technology quickly which could potentially accelerate the impact on jobs. This makes Singapore jobs more susceptible to the impact of technological advancements.

When Singaporean workers were asked why they had felt nervous or scared about the impact of technology on their jobs, 58% were worried that technology would make their role redundant and 36% were worried that they wouldn’t have the right skills.

On top of that, about half the Singaporeans (54%) surveyed believe automation will significantly change or make their job obsolete within the next ten years. While most admit that technology would change their jobs significantly, 4% still believe that technology would not affect their day-to-day work.

Despite the uncertainty, there is also a sense of optimism. The report found that 53% of respondents indicated that they felt technology would bring about more opportunities than risks in the workplace and 85% felt that technology will change their work for the better.

Fang Eu-Lin, Leader of PwC’s Academy in Singapore says:

“With technology, roles that are more process-driven are more at risk of being displaced and individuals doing these roles must prepare for their “version 2.0” role. For example, robotic process automation (RPA) is becoming more commonplace, driving greater efficiency in highly repetitive tasks. In the short term, this change will require employees to understand how to work with the technology. In the longer term, individuals with the skills to maximise these new opportunities will be the ones who thrive in the marketplace.”

Time to upskill

While employees seem to understand how the technology can be embedded into the workplace, they are concerned that they may not have the right skills to remain relevant as the business landscape changes. Given the clear recognition of the change that technology will bring, it is unsurprising that 81% of respondents in Singapore were already learning new skills to better understand or use technology.

Even if they weren’t already pursuing opportunities, 92% in Singapore said that they would take the opportunity to better understand or use technology if it were available to them. If their jobs were at risk, 85% of Singaporeans would learn new skills now or completely re-train in order to improve their future employability.

This is a clear reflection that individuals are aware of the necessity of upskilling. This is potentially due to the increase in efforts by both the public and private sector. For example, Singapore has put in place safeguards, such as the establishment of SkillsFuture to inspire an attitude of life-long learning amongst its citizens. Initiatives such as Professional Conversion Programmes (PCP), Industry Transformation Maps and SkillsFuture Frameworks serve as good and tailored guidance for organisations and individuals to prepare for their job in the future.

With the strong national push for upskilling there are many more opportunities in the market for Singaporeans to upskill, but ultimately it’s up to each worker to take the step. However, less than half of Singaporeans (44%) recognised that it is their own responsibility to upskill. 32% felt that upskilling was the government’s responsibility higher than the global average of 22%.

Although, only one in five (19%) felt that employers were responsible for upskilling their workforce, a majority of employers have already begun to play their part in championing the agenda. In Singapore, 76% of workers said that their current employer was giving them the opportunity to improve their digital skills outside of their normal duties, although only 31% of respondents indicated that they are currently upskilling through their employers. This seems to indicate that there is a need for some reconciliation between the skills employees need and what is being offered to them.

Martijn Schouten, Singapore People & Organisation Leader, PwC South East Asia Consulting says:

“Employers are faced with a lot of complexity in understanding, managing and mitigating the impact of technology on the world of work. It’s the type of wicked problem that requires a wide variety of perspectives; deeper insight in the demand and supply for job roles; the capability to redesign structures and roles; an understanding of the skills and capabilities required to fulfil new and changing roles; and the ability to coach and motivate people to embrace learning and upskilling. A challenging, yet very important problem to solve.”

Country comparisons

Singaporeans emerged the most likely to be learning new skills through their employer, tied with the Dutch at 35%. As compared to the other countries surveyed, Singaporean workers were also the most likely to accept a lower level position in another company or industry if they believed their job was at risk of automation (60%, global 47%).

Looking across the markets surveyed, workers in China and India are by far the most upbeat about the impact of technology (even after adjusting for cultural bias), despite being the most likely to believe their jobs will change significantly. Workers in these regions are getting more opportunities to upskill: 97% and 95% respectively are being given these opportunities by their employers. On the other hand, workers in the UK and Australia say they are given the least opportunity to learn new skills. They also tend to be less positive about the impact of technology.

Despite Chinese workers being more positive about the impact of technology, it’s interesting to note that Singaporeans are taking more responsibility for their own upskilling as compared to their Chinese counterparts. Only 26% of Chinese workers reflected that it was the individual’s responsibility to upskill (as compared to 44% of Singapore workers), while 40% and 31% of them said the responsibility lies with the government and the businesses respectively.

Although Singaporean workers are ahead of the average worker when it comes to learning new skills (81% in Singapore, 77% globally), our population is still behind emerging countries such as India (96%) & China (96%).

Fang Eu-Lin, Leader of PwC’s Academy in Singapore concludes:

“The world of work in changing rapidly. For Singapore to remain relevant on the world stage, every player must do their part to keep the momentum of digital upskilling going. Employers, industries and government play a significant role in this by partnering and creating opportunities for upskilling, supporting and encouraging Singaporeans to upskill in an effective way.”

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Why YouTrip Mastercard is a hype?

In the hope of maintaining Singapore as the regional financial hub, the government has been encouraging Singapore banks to adopt technology in improving business operations. Ever since Singapore Prime Minister Mr Lee Hsien Loong highlighted that banks should adopt blockchain technology in bank settlements in 2015, fintech  start-ups from all around the world flew into Singapore. In 2018, YouTrip, an e-wallet start-up, left its home ground – Hong Kong – one of the world’s largest financial hubs to launch their venture in Singapore.

YouTrip positioned itself as a multicurrency e-wallet for travellers. It has developed technical infrastructure for multicurrency exchanges with a network of FX providers. The uniqueness of its technology is to offer FX exchanges to individual at a competitive rate that banks cannot provide. However, that itself is not going to give YouTrip an edge against the traditional money changers as their rates are almost the same. Furthermore, storing money digitally in the e-wallet is useless if travellers can’t use that to make payment in stores.

As such, YouTrip partners Mastercard (stock quote:MA) . Intuitively, this makes the YouTrip card more “useable” as users could make their payment if the respective merchants accept Mastercard. The strategy works. Months after their launch, number of users has surpassed 50,000. That caught investors’ attention. In May 2019, YouTrip raised USD 25.5M in Pre-Series A funding which is quite impressive for a Singapore-based company that is barely a year old.

YouTrip is a Bank Disruptor?  

The recent capital injection is useful in helping YouTrip to improve their technology infrastructure which is the backbone for all financial institutions. In fact, this is the challenge that YouTrip must overcome. Normal people deposit money digitally in their saving accounts with the belief that the bank’s technology could safeguard their savings. Let’s extend the idea further. When we top up money in YouTrip e-wallet, can we expect from them the same security level that bank is offering? If you have read my earlier blog post, YouTrip is trying to assure the public that they have the same level of technology that bank has in terms of risk management and anti-money laundering capability. However, building up the infrastructure equates to building faith among users which takes time. By and large, YouTrip, as a company, is still too young for the public to put their trust (saving) with them.

To succeed in the fintech space, a fintech start-up has to offer the same level of services (or even better) that the bank is offering. As a matter of fact, that’s the value that fintech start-up is offering to the market. YouTrip has identified that digitalizing the existing business model of money changer is the way to enter the market which undeniably, they have succeeded and even convince major payment solution company like Mastercard and locally, Ezlink to participate in their growth stories.

They have great partners and now, it is for them to shape the market behaviour.  

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Friends have been asking me about @youtripsg MasterCard. My reply is always the same it is a good for travel. You get better exchange rate and for some major currencies, you could even buy and keep them in the E-wallet and that’s good for traveller who like to plan their trip ahead to capture the best possible rates. Travellers should give this a try. Now you could even get an additional $10 if you sign up and do your first top up via my referral link http://bit.do/youtrip-weewu P.s. it is also a #ezlink card if that matters to you. #instatravel #travelphotography #travelgram #instalifestyle #mastercard #youtrip #instafinance #discountcodes #discount #referralcode #reward #instareward #singapore #fintech #startup #ewallet

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E-wallet business – More Than Just a Debit Card

E-wallet, as the name suggested, should work like a WALLET. It should be able to keep fiat currencies, credit cards and reward cards etc.  YouTrip positioned themselves as a wallet for travellers only provides the entry to the market but personally, I don’t think it is going to be sustainable. Singaporeans love travels but their time are mostly spent in Singapore. Although YouTrip card holders could use their cards to pay for public transports, there are other players rolling up similar services that gives better discounts. In short, the YouTrip card has not much use in Singapore given so many other options available.

There must be strong enough reasons for users to continue keeping YouTrip card in their wallet

Where are the merchants?

Banks refuses to lower rates as it hurts profitability. Offering low fees is a good penetration strategy but that is not going to be the barrier for new entrants. YouTrip needs to bring in more partners into their ecosystem. For a start, they should just be focusing on bringing more values to travellers. For instance, a reward system in the form of discount for travel insurance or hotel booking for heavy YouTrip users (frequent travellers) that will encourage card usage.

Basically, virtual money is only useful in 2 ways – One, I can use that to buy into services or products at greater discount. Two, I can grow it so that I could use that in the future. In principle, any fintech company that can achieve both can basically be called a bank. ANT Financial is one classic example. However, most fintech start-ups are only able to deliver services or products at greater discount than credit cards companies (which is exactly what YouTrip is trying to do!). However, keeping up with this in a longer term costs money and it may not be sustainable. YouTrip has to “engineer” a new form users’ reliance to your services to keep themselves afloat in the competitive fintech business. In my opinion, better forex rate?Nah!

Grab, a South-East Asian fintech and transport services company, has established a strong network of merchants in the region. Grab Pay, e-wallet services by Grab, can be used to pay for any goods in their marketplace and delivered to users’ doorsteps. Outside Singapore, you could even use Grab to pay off your transportation in other South East Asia countries. Grab is also following footsteps of ANT Financial. They are hiring consultant and it is rumoured that they are preparing to be a virtual bank in the event that Singapore is issuing virtual bank license like what Hong Kong did

Getting merchants into ecosystem is crucial in developing use cases and I am sure there are a lot more to be explored. Grab’s way of linking transportation and merchant seems to be working in South East Asia market. YouTrip is not Grab. They have to offer use cases that are different from what their counterparts are offering. They could study what their closest competitor, Singtel Dash is doing. For a start, why not just tap on existing e-commerce players? That might be faster for YouTrip.

In short, YouTrip has a good start but it is still a hype that I am doubtful it could sustain as a travel card. As of now, I am keeping my YouTrip card in my drawer.

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ConnecTechAsia Returns This Year – IMDA is positive of Singapore 5G rollout.

Huawei 5G saga with US Commerce Department is a global concern. Asia market has reignited the interest of cyber security and 5G connectivity. This year, 5G takes the centre of the stage of this year’s ConnecTechAsia.

Mr Tan Kiat How, Chief Executive, Infocomm Media Development Authority, is present to give the opening address for the launch of the event. Bringing connectivity to all is Singapore’s primary goal. Currently, Singapore is able to deliver the 4G mobile services to all Singaporean at SGD29.99/month (approx. USD 21.90)

The incoming 5G technology will create a competitive mobile market that will eventually bring more values to the customers. Consumers are not the only one benefits from the technology. Enterprises and government could also reap benefits from the deployment of 5G technology.

It is more than high speed delivery. Singapore envisions 5G as an enabler to support development of new applications and services in this new digital economy. Low-latency and high bandwidth support massive number of connected devices and that will bring Singapore closer to smart nation initiatives.

5G as a standalone network architecture is crucial to Singapore development. To do so, IMDA is allocating 3.5Ghz to two nationwide networks through call for proposals. IMDA also assures that that more spectrum availability to be deployed in the coming years.

Commenting about global economy uncertainty, Mr Tan opined that despite this trade tension, technology advancement will continue. However, he stressed the importance of collaboration between public and private sectors. In his opening address, he further elaborated, “This is why platforms like ConnecTechAsia are important. Such platforms bring together industry leaders, solution providers, entrepreneurs and policy makers to focus our minds on the key issues of the day.”   

You may watch his speech at ConnecTechAsia via my facebook post below

ConnecTechAsia, comprising BroadcastAsia, CommunicAsia and NXTAsia officially opens on 18th June at Marina Bay Sands and Suntec Singapore. Held from 18-20 June 2019, the three-day event showcases the latest smart technologies and trends that are shaping Asia’s digital future.

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New Appointment of Managing Director for Epson Singapore and country manager for Epson Thailand and Epson Philippines

SINGAPORE, May 2019 – Mr. Ando Munenori has been appointed as the new Managing Director of Epson Singapore overseeing Southeast Asia region, and concurrently country manager for Epson Thailand and Epson Philippines. He is also concurrently holding the role of Executive Officer at Seiko Epson Corporation (herein referred to as SEC) Epson’s global headquarters in Japan.


Mr. Ando Munenori. Source: Epson Singapore

He is taking over from Mr. Tanaka Toshimitsu, who will be returning to a senior role in Sales Planning & Marcom Department in SEC.

Mr. Ando was Head of SEC’s Sales & Marketing Division, where he was responsible for developing the sales infrastructure and strategy for all of Epson’s products globally.

He has held multiple leadership positions in Asia and internationally, and brings a depth of understanding of the region and decades of management experience to his role. He took on the leadership role as President of Epson China from 2014 to 2017, where he led with Epson’s “technology plus localisation” strategy, growing the business and increasing the company’s share in key markets including printers, projectors and robotics.

From 2003 to 2008, Mr. Ando was assigned to the Southeast Asia regional headquarters in Singapore, where he was in charge of market development for Epson’s printers and other information-related products.

Mr. Ando has also led the POS printer business in Europe from 1994 to 1998, where during which he successfully grew the POS printer business through the introduction of new technologies to bring the company to the No. 1 position.

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Businesses in Singapore must invest in their people for digital transformation success

• Telstra study finds business leaders lean too heavily on technology in digital transformation decisions
• Singapore companies cite gap between digital transformation priorities and performance
• Digital transformation driven financial rewards difficult to show
• Businesses need whole-of-business approach for digital transformation success

March 2019: The success of digital transformation initiatives undertaken by organisations in Singapore fall short of expectations due to their heavy emphasis on technology and lack of focus on people and processes.

This was one of the main findings of Telstra’s Disruptive Decision-Making research, which surveyed 3,810 senior decision-makers from 12 industries in 14 markets around the world to uncover insights into strengths and weaknesses around their digital transformation programs.

Focus on technology undermining success
When rating decision-making across four factors for success – people, processes, technology understanding and partnerships – businesses in Singapore ranked ‘technology understanding’ as the area where they feel by far most confident.

Seventy six per cent of Singapore respondents felt their organisation makes technology decisions ‘well’ or ‘extremely well’. While the understanding of technology and its performance is important, other factors are equally significant.

Telstra Managing Director APAC, Ms Marjet Andriesse

Telstra’s Managing Director, APAC, Marjet Andriesse, said that organisations that are highly digitally mature (20% in Singapore, compared to 21% globally) show greater focus on people and processes.

“The research shows that successful digital transformation relies on more than the right technology, it requires the right culture, the right people – and the right processes to support them,” Ms Andriesse said.

“Digital transformation must be a company journey that involves upskilling and changing employee mindsets, adapting structures and ways of working, and creating teams that can take advantage of new technologies.”

Whole-company approach needed
The research found that a company-wide approach to digital transformation is significantly more likely to result in success, yet 66% of Singapore organisations are allowing business departments drive individual digital initiatives, compared to 51% globally.

A further 8% said they outsource as much as possible (vs 15% globally), and only 25% say they have an integrated, whole-of-company digital transformation strategy (vs 31% globally).

“Globally, organisations that have a whole-of-business digital transformation strategy are significantly more likely to be highly digitally mature, make extremely good digital decisions, and see the impact of digital transformation across the business,” Ms Andriesse said.

“The research demonstrates that Singapore organisations have an opportunity to integrate digital transformation activity across all areas of the business, but this needs to be led by a clear company strategy from the C-suite and board level down.”

Businesses in Singapore not delivering on digital priorities
The report also found there was a substantial gap between digital transformation priorities and performance.

Organisations in Singapore rated their top digital transformation priorities as (1) optimising technology to move faster, (2) protecting digital assets from cyber threats, and (=3) optimising security investments to reduce time and resource management, and (=3) protecting, detecting and responding in real time to events.
However, when it came to decision-making performance, these priorities ranked poorly.

“One of the red flags we saw in this research was the gap between the areas businesses in Singapore chose as their highest priorities, and their performance in these areas,” Ms Andriesse said.

“Cyber security was identified as a particular focus area in Singapore. But despite protecting digital assets from cyber threats rating as the second highest priority – it achieved the lowest performance score in terms of ability to deliver.”

Ms Andriesse said there were a few factors to consider when analysing this finding.

“It is notable that three of Singapore’s top four priorities are related to security, even though performance in these areas is poor. This performance gap is symptomatic of the fact that security requires a whole-of-business approach incorporating people, processes, and technology working in concert together,” Ms Andriesse said.

Hard financial outcomes difficult to show
The research found that while organisations in Singapore are increasing their investment in digital transformation, many businesses had yet to realise the financial impact of their efforts.

More than a third of businesses in Singapore invested more than US$1 million in digital transformation products and services over the past year (34%), while almost one in 10 spent more than US$5 million (8%).

This figure is set to increase as 30% of respondents said their company’s total spend on digital transformation would grow by more than 10% in the next three years.

However, when it came to measuring the impact of digital transformation, showing hard outcomes such as financial returns of this investment was difficult.

“Measuring the progress and success of any digital transformation strategy or individual project is an absolute essential. But the metrics in which we measure success are just as important,” Ms Andriesse said.

“Organisations in Singapore found it particularly hard to demonstrate financial results from digital transformation. In fact, of all the business outcomes surveyed, increasing profit margins saw the lowest levels of achievement in Singapore.

“Successful companies are clear on what digital transformation means for their organisation, they have empowered their people, strengthened their processes and identified their key partners.”

Source: Telstra Singapore

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Singapore Fund Raiser Shares Business Tips

I was once invited to Singapore Polytechnic to address a business class and talk about Corporate Finance. It was a talk that was supposed to show or demonstrate how companies raise money through public listings. I did sense that the topic was going dry and it was really a bunch of students who already knew what I was talking about. As such, I stopped the talk midway and asked if the students would prefer a Q and A and not see the rest of my slides. To my surprise, they all raised their hands and agreed to my suggestion. And the number one question on everyone’s lips – “How do you find deals?” And “How do you close them?”

It was a question I was a little unprepared for because I had no slides to support this question.

Indeed, I was caught a little flat footed but as I summoned my confidence to speak and it came out quite naturally.

I said it all boiled down to one word – Luck. Before someone accuses me of copying Doug Leonie from Sequoia Partners in his talk to the Stanford Business School graduating class, I made my talk more than 5 years ago. While I may not be able to hold a candle to Doug on his deal closing and fund-raising, I could hold my head and say the world is big enough for opportunities to come and in all shapes and sizes. But in an old cliché – luck favors the prepared and the ready. Ronaldo always knew that when he should stick his leg out, where the ball will go to better positioned himself to strike a goal. Be at the right place at the right time.

Getting prepared means you had to know your facts, your domain knowledge or at least know where and how to get it. Being widely read and widely connected were also components of being ready. Being a genius helps but if you’re not a genius (I certainly wasn’t) then it helps to know who the geniuses are and where they usually hang out. Go and connect with them. Nurturing your circle and practicing top EQ techniques in that circle will certainly give you an edge.

Looking for deals is about fishing in the right ocean. If you are looking for a Great White, then you’d probably want to be somewhere near the Great Barrier Reef. If you are looking for small fish and plenty of them then the Straits of Malacca will do but look out for pirates. Having identified your fishing spot, all you need is to equip yourself with knowledge and tools to do your fishing. (You can’t catch tuna without a proper fishing rod, right?) Hang out in the right places and be ready.

I am hard pressed to name the deals I have struck due to privacy and confidentiality concerns, but I have closed my fair share of deals. Debt or equity. PE or VC. Project or Specifics. Demand and Supply. Derivative or Structures. It’s a rich gamut.

Luck is all about being ready and sticking out your foot at the right time. Be thankful for education especially one that teaches you to read well and speak well and ultimately relate well.

To conclude, you only need to take home one thing and that will make your day or your deal – “Right place, right time, right words and right people”

About The Article Contributor 

Mr. Chiang Kwok Shong has a life-time experience in banking, private equity, FMCG and fund management. A coach certified by Marshall Goldsmith SCC, Kwok Shong brings a new skill to his people-centred and humorous style of supporting CEOs and corporate leaders to perform at their best. Kwok Shong is now an Executive Director for CYC Company, a famous tailor in Singapore. He received his Bachelor of Commerce from The University of Alberta in 1984 and recently received his certification with the Marshall Goldsmith Stakeholder Centered Coaching in 2014.

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SINGAPORE NAMED AS HOT INVESTMENT DESTINATIONS; MORE CONSOLIDATION AMONG REITS

Singapore CBD

Singapore is ranked as second top real estate investment city in Asia Pacific right behind Melbourne according to the Emerging Trends in Real Estate Asia Pacific® 2019, a real estate forecast jointly published by the Urban Land Institute (ULI) and PwC.

The cyclical rebound for Singapore is mainly driven by the revival of office rental market. This year, co-working or shared office space operators is the major contributor for the Singapore real estate sectors.

The revival of the Singapore office is observed in the number of deals for the past 12 months. One notable deal is the sales of OUE Downtown office components for SGD 908 million. However, during the survey done by ULI, one fund manager active in the market notes, “It is possible the market is overly bullish towards the office sector, as 2019 could be a challenging year for the Singapore economy and new supply is expected in 2020 and 2021”

The report also shows that the residential market in Singapore continues to be resilient, despite cooling measures in place for several years. Meanwhile, solid economic growth and high visitor numbers have supported rents and yields for prime retail space in 2018, following years of poor performance as Singapore landlords struggle to adapt to new models of retailing. Meanwhile, the logistics market remains plagued by oversupply. This has suppressed rents, although there are signs excess space is now being taken up, with rents are predicted to improve slightly in 2019.

The Singapore REIT market, on the other hand, has exhibited relatively weaker performance in 2018. In the first 9 months, S&P REITS lost 1.2% in local currency terms. Although annual returns were still positive at approx. 6%, it is relatively lower when benchmarked to the broader Singapore’s STI index which returned 10% in the same period.

Smaller REITs in Singapore have been trading at substantial discounts to net asset value (NAV). Market observer has started to foresee more consolidation amongst the smaller REITS which what investors could be looking for – fewer sponsors equal to stronger sponsors.

The Emerging Trends report, which is being released at a series of events across Asia over the next several weeks, provides an outlook on Asia Pacific real estate investment and development trends, real estate finance and capital markets, and trends by property sector and metropolitan area. It is based on the opinions of 350 real estate professionals, including investors, developers, property company representatives, lenders, brokers and consultants.

 


The top five markets for investment and development in 2019:

• Melbourne (first in investment, first in development) – Melbourne has just managed to best Sydney this year. It offers a constrained office supply pipeline, a good yield spread over the cost of debt and sovereign bonds, a deep, liquid, core market and good prospects for rental growth.

• Singapore (second in investment, eighth in development) – An improvement in Singapore’s office market has caused the city to take second spot in investment rankings, as it continues to rebound from cyclical lows.

• Sydney (Third in investment, third in development) – Sydney remains near the top of the rankings for the same reasons as Melbourne. The city is a favourite of global investors due to relatively high returns and as a safe-haven play. Competition for assets has helped sustain pricing, while low vacancies and growing demand for space suggest rents will continue to rise.

• Tokyo (fourth in investment, fourth in development) – Tokyo’s move to fourth this year is somewhat surprising after last year’s drop, but probably reflects what has always made it a favourite for institutional buyers: cheap finance, attractive leverage, a good spread over interest rates, and a large stock of investment-grade assets.

• Osaka (fifth in investment, sixth in development) – The lack of reasonably priced core assets in Tokyo continues to push investors into regional Japan, where local economies are now increasingly mature and stable. With supply tight in both residential and office sectors, the city is now probably the top market outside the capital.

Leading buy/hold/sell ratings for the various asset classes are as follows:
• Office — buy Ho Chi Minh City and Tokyo, sell Taipei and Auckland.
• Residential — buy Ho Chi Minh City and Bangalore, sell Kuala Lumpur and Auckland.
• Retail — buy Ho Chi Min City and Mumbai, sell Taipei and Kuala Lumpur.
• Industrial/distribution — buy Bangalore and Mumbai, sell Taipei and Kuala Lumpur.
• Hotels – buy Tokyo and Ho Chi Minh City, sell Taipei and Beijing.

The full report is available here.

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SINGAPORE-BASED TC ACOUSTIC LAUNCHES SONOS-ON-DEMAND SERVICE

Audio equipment business has always been perceived to be lacking innovation and personally, I think it is true at least to a certain extent – how much can you change when comes to sound which you can’t touch, see and feel. However, my perception is starting to change in recent years. The Singapore-based Creative Super X-Fi, for instance, has impressed me with their personalized sound map. Now, another Singapore company Tat Chuan Acoustic (TC Acoustic) is rolling up new services hoping to lure more customers in this highly competitive audio equipment.

 

TC Acoustic has announced the launch of Sonos-On-Demand, a unique online service that offers music lovers and their families a fifteen-day free trial1 of the new gamechanging smart speaker Sonos Beam (RRP S$699). Consumers can simply place a refundable deposit of S$99 for the Sonos Beam at South-east Asia’s leading e-commerce platform Lazada, with the option of completing or cancelling the purchase fifteen days from the date of delivery.

 

Marching to the Beat of an On-Demand Generation

Catering to a new generation of tech savvy consumers who are used to on-demand services such as Netflix and Spotify, Sonos-On-Demand is a creative way to provide the same kind of convenience and access, allowing them to test and buy a music system at a touch of a button, without ever setting foot out of the house.

 

Sonos Makes it Home 

Based on a study that surveyed 30,000 people across the world, Sonos discovered that when music is played out loud in the house, it transforms relationships. Families are 25% more inspired, have 50% more hang-out time, and say “I love you” 18% more. Truly, Sonos makes it home.

Sonos-On-Demand aspires to deliver this promise right to the doorsteps of homeowners, quite literally. The aim is to usher them into their first foray of filling their homes with music and what it can do for them – more warmth, love, bonding, creativity, conversations and connections – and enable them to create the best sonic culture and atmosphere in their own homes.

Delivering a rich, in-home sound experience, the Sonos Beam is designed for the unparalleled listening of virtually any streaming content, from movies and TV shows to music and podcasts. Touted as the world’s most versatile smart speaker, the Sonos Beam supports over 80 music services, multiple voice assistants and Apple AirPlay 2.

“As technology continues to push the boundaries of how we live, work and play; a seamless customer journey means ensuring that consumers get what they want, when they want it. Through Sonos-OnDemand we’re giving our consumers complete control to create the perfect listening environment, whenever the desire takes hold”, said Christian Honegger, Chief Executive Officer of TC Acoustic, the official distributor of Sonos in Singapore.

 

About TC Acoustic 

The exclusive regional distributor for Sonos and Klipsch, TC Acoustic has been the leading player in audio distribution since 1966. It underwent a change of management and strategic restructuring in 2010 and has since become one of the fastest-growing and highly innovative lifestyle technology distributors in Singapore and rest of Asia. Currently TC Acoustic has close to 500 distribution points across the region. Under its new management, its key brands have also garnered several awards from major tech media.