ED 44

A PUBLICATION BY ASME
YUSARN
AUDREY
Igniting Possibilities
Cover Story | Pg 28
Brand
Seminar 2012
Events | Pg 5
$6.90 (+GST)
MICA (P)104/03/2012
ISSN NO. 1793-0286
&
JUL | AUG 2012
Saving Your Taxes
Initiatives from IRAS
Special | Pg 16
MAKE THE RIGHT IT
INVESTMENTS
Commentary | Pg 20
HARMONY MATTERS:
EFFECTIVE PEOPLE
PRACTICES
Market Intelligence | Pg 38
ISSUE 44

p33
p14 p37
p38
p60
July - August
Co n t E n t s
SPECIAL
16 | The pic scheme
Find out more from IRAS how businesses can enjoy huge tax savings for investments in
innovation and productivity improvements under the PIC scheme.
COVER STORY
28 | Yusarn audreY: igniTing possibiliTies!
A story on how a pair of entrepreneurs is able to help other entrepreneurs harness IP
strategically for growth.
IN THIS ISSUE
20 | iT invesTmenTs
Find out how to make the right IT investments and how SMEs can maximize IT during
economic uncertainty.
27 | business analYTics: a KeY driver of Your
business’ compeTiTiveness and growTh
Learn what business analytics can do for your businesses today.
41 | insighTs inTo mYanmar
A snapshot of the nation’s opportunities, risks and challenges for business.
50 | smes’ TaKe on The isKandar developmenT region
Find out what other fellow SMEs think about the Iskandar Development region!
REGULARS
3 | message from ed
4 | news
5 | evenTs
37 | marKeT inTelligence
60 | gasTronomia
62 | classifieds
63 | Top 5
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
1

In view of the uncertain global economy due to the Eurozone
Crisis, efforts to help local SMEs have been ramped up. In the
words of European Commission President Jose Manuel Barroso,
“the challenges are not only European, they are global.” As such,
the Singapore Government, together with the various agencies and
associations, have been looking into helping local SMEs sustain their
businesses through these difficult times with a wide range of initiatives
and schemes.
To name a few, the EDC@NorthEast – a collaboration between EDC@
ASME, North East Community Development Council and SPRING
Singapore – was recently launched to provide business advisory
services and reach out to the SMEs populating the heartlands. The
Max Talent scheme was also initiated to bridge the divide between
SMEs and Professionals, Managers and Executives (PMEs): the
programme will help alleviate the talent shortage problems of SMEs
while helping PMEs secure employment.
In this issue of Entrepreneurs’ Digest, the focus is on examining SMEs’
concerns and issues to bring in-depth insights to our readers, which
we hope would enhance your knowledge and awareness of the current
business situation, opportunities and alternatives available for you.
It is almost the time of the year for tax filing. Although tax filing might be a
tedious process, IRAS’ initiatives found within this issue to help simplify
tax filing for small companies will help reduce companies’ compliance
costs and improve their overall productivity and efficiency.
With a more modern and appealing look and feel of the Entrepreneurs’
Digest, we will continue to work towards continual improvement to
bring greater reading pleasure, quality information and editorial content
to our readers.
Yours through service,
Terence Wee
Executive Director
Association of Small and Medium Enterprises
Message FroM
The execuTive
DirecTor
TAKING
ONE STEP,
TWO STEPS
AT A TIME
A PUBLICATION BY ASME
EDITORIAL TEAM
Managing Editor
Terence Wee
Editor
James Tan
[corpcomms@asme.org.sg]
Writers
Eunice Choy
Justin Shen
Advertising
Celine Sim
Luann Leong
[sales@asme.org.sg]
Design
Wen Ye
SL Financial Press Pte Ltd
Publisher
Association of Small and Medium Enterprises
Advisor
Thomas Fernandez
Contributors
Reuben Tan
Terence Tham
Jeffrey Koh
MOM-CEP Secretariat
MTI-PEP Secretariat
Disclaimer
The comments and views expressed in Entrepreneur’s
Digest do not necessarily reflect those of the publisher.
This publication is intended to encourage, motivate
and assist the readers in regards to entrepreneurship.
It is however, not a substitute for and should not
be relied on as if it were professional advice on
entrepreneurship, law, accounting or any aspect of
business. The Publisher expressly disclaims all liability
for loss, damage or expense suffered or sustained by
any person, body or corporation arising directly or
indirectly from action as a result of the material in this
publication. Any reliance on material therein shall be at
the readers’ own risk.
Copyright
All rights reserved. No part of this publication may be
reproduced, stored in a retrieval system, or transmitted,
in any form or by any means, electronic, mechanical,
photocopying, recording or otherwise, without prior
permission of the copyright owner of publisher ©
Association of Small and Medium Enterprises, 167
Jalan Bukit Merah, Tower 4, #03-13, Singapore
150167. Tel: (65) 65130388 Fax: (65) 65130399.
MICA (P) No 104/03/2012. ISSN: 1793-0286. Printed
by SL Financial Press Pte Ltd.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
3

4
in t h E n E w s
New China Business News Channel to
be Launched
Singapore will be the first country outside of Hong Kong
and China to have the Chinese Business Network when it is
launched by the end of 2012. An all-business news channel
with an emphasis on the happenings within China, the channel
is a collaboration between StarHub and the Shanghai Media
Group (SMG), and will offer updated and current news dealing
with professional financial and business subjects in Mandarin.
Mr Chan Chong Beng, President of the Association of Small
and Medium Enterprises, and Chairman of Goodrich Global
Pte Ltd, is welcoming of the CBN’s launch in Singapore. “The
Chinese are changing the world. StarHub’s link-up with CBN
will serve as a good platform for businessmen in Singapore to
react instantly in a rapid changing Chinese environment,” said
Mr Chan.
The CBN will be received by about 1,500 Singapore-based
China enterprises, business owners, investors as well as multinational
corporations who are interested in tapping into China’s
massive economy. The channel will also be made available to
all StarHub TV customers at no additional cost.
Europe to Fix Crisis Through Integration
In a joint Group of 20 (G20) summit statement made on
Tuesday, 19 June 2012, the main players in Europe have
moved towards greater financial integration in an attempt to
remedy the persistent debt crisis in the region.
Following a two-day talk at the Mexican beach resort of Los
Cabos, European leaders are under strong pressure to take
swift and affirmative action to solve its financial challenges.
According to the G20 statement, “The Euro Area members
of the G20 will take all necessary measures to safeguard the
integrity and stability of the area, improve the functioning of
financial markets and break the feedback loop between
sovereigns and banks.” This emphasis on financial integration
is backed by key European Union (EU) members such as
Germany, France and Britain.
The G20 summit was preceded by Greece’s critical polls on
Sunday, 17 June 2012, where political parties committed to
the terms of their EU and International Monetary Fund (IMF)led
bailout resisted a strong challenge by a leftist anti-austerity
party.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
Singapore is Resilient
In a recent annual credit report released by ratings
agency Moody’s Investors Service, Singapore has “high
resilience” to worldwide financial developments even if
the island nation depends on global finance and trade.
With strengths in the areas of its strong economy,
institutions, government finances and low susceptibility to
external pressure, Singapore however, is still challenged
with the need to improve productivity and innovation in
the wake of increasing international competition.
Even so, Moody’s is still maintaining its high rating on
Singapore’s sovereign credit, adding that the local
financial system is relatively irrepressible to foreign blows
because of the local banks’ robust balance sheets.
Towards Greater Efficiency
Singapore was ranked 9th in the world by Bloomberg as
‘Best Countries for Business’. Despite the nation’s globally
applauded efficient system, the question of whether
any “red tape” that hinders economic restructuring or
productivity improvements remains within the clockwork.
With a brief study, ASME found out some of these “red
tape” SMEs are facing:
• Communication between the government and SMEs
can be improved.
• This will especially be helpful for SMEs’ productivity,
for those who rely on work permits, and applying
for grants or other applications.
• More support can be given to help SMEs commercialise
products that have been patented or stemmed
from innovation.
• More resources and initiatives can be given to help
SMEs relocate their factories and offices regardless
of it being due to business expansion or that the
lease expiration.
• One of Budget 2012’s goal is to reduce reliance on
foreign workers, yet many SMEs are facing the problem
of hiring locals; many SMEs just do not have the right
resources for employment and this hinders productivity
when they are unable to retain or attract locals.
Disclaimer: All information is accurate at time of print

Brand
Seminar
2012
Building your brand a Pixel at a Time
Branding has become an integral
part in any business, regardless
of size, nature of business or
market positioning. It has grown into an
intricate facet of business that can be
easy to grasp but difficult to master, and
oftentimes the most popular brands are
the ones which boast creative elements
supported by a dedicated brand
management team.
On 29 May 2012, the Association of
Small and Medium Enterprises (ASME)
held the Brand Seminar 2012 in
its Enterprise Conference room to a
turnout of 50 participants across the
different industries.
Organised in strategic partnership with
cxSurbana along with support from
SPRING Singapore, International
Enterprise Singapore (IE) and the
Intellectual Property Office of Singapore
(IPOS), the half-day seminar saw an
impressive line-up of very distinguished
and credible speakers who shared their
wealth of experience and interesting
perspectives on the realm of branding.
With the tagline “Building Your Brand
A Pixel at A Time”, the seminar
participants drew inspiration from
the various speakers who covered a
different – yet interconnected – element
of the branding process. Ms Ng Beng
Eng, Director of Strategy & Branding
at Surbana International Consultants,
spoke about the challenges and rewards
of branding during her keynote address
to an attentive audience, using case
studies and interesting examples to push
her points across.
Coming from a variety of industries
and armed with robust knowledge
and experience, the speakers gave
the seminar participants a relatively
complete and comprehensive picture
of this important business function. Ms
Marloes Schulte, Senior Consultant of
Effective Brands Asia described the
process of creating a brand blueprint,
while Mr Sean Mathews – Head of
Branding Consulting & Insights at
Dentsu Singapore – continued with a
presentation on bringing a brand to life,
using videos and established examples
to illustrate his point.
An often overlooked element of branding
is its protection, and Ms Audrey Yap,
Managing Partner of boutique law firm
Yusarn Audrey, shared with the audience
the important relationship between
branding and intellectual property (IP),
and what firms must take note of when
protecting their trademarks. To round
up the insightful Seminar, Mr Samir
Ev E n t s
Dixit – Managing Director of Brand
Finance Singapore – and Mr Andre Toh
– Partner of Ernst & Young Solutions
LLP in Singapore – gave all-inclusive
presentations on brand performance
and valuation, a key component in any
branding strategy.
“The speakers, like Mr Sean Mathews,
are quite engaging and very informative,
providing something new to organisations
especially non-profit ones, since brand
management is generally not at the
forefront of their business processes,”
said Mr Joel Goh, Marketing Manager of
Electronics & Engineering Pte Ltd, who
stayed on for the Brand Valuation Clinics
after the Seminar.
“The seminar helps to change the mindset
of brand management,” he added.
Akin to the minute elements that
constitute an image, the speakers’
invaluable discernments and roadmaps
into the branding process will surely
benefit the seminar participants to build
up their own brands, a pixel at a time.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
5

6
Ev E n t s
ASME-IRAS SE M In A R
On 23 April 2012, 130 participants from different
industries attended a half day Seminar organised by the
Association of Small and Medium Enterprises (ASME)
in collaboration with the Inland Revenue Authority of Singapore
(IRAS). Held in the i-Connect function room within the Surbana
One office complex, the participants received comprehensive
information on the newly enhanced Productivity and
Innovation Credit (PIC) Scheme in addition to the highlights of
Budget 2012.
With the nationwide call to improve productivity in full force,
the ASME-IRAS Seminar was timely and very relevant to
the attendees. Specially designed to help the participants
understand how businesses can benefit from the PIC Scheme
and other key tax initiatives introduced during Budget 2012, the
Seminar also served as a learning and exchange platform for the
private and public sectors to achieve operational excellence.
Instead of having generic financial speakers to shed light on
the popular PIC Scheme, the Seminar invited tax officers from
IRAS to provide an in-depth and detailed presentation on the
actual facets to this government assistance scheme. Mr Toh
Tze Hern, Senior Tax Officer from the Corporate Tax Division
of IRAS gave a very thorough and updated overview of the
PIC Scheme, from the activities that can be claimed under
the Scheme to the actual claiming processes as well as the
various qualifying criteria. Participants sat riveted as many
useful illustrations and specific examples were shared to show
how the Scheme works, livening up the relatively complex
subject matter.
The second speaker, Ms Audrey Yue – also a Senior Tax Officer
from the Corporate Tax Division of IRAS – delved more into
the specifics of each of the six activities that can be claimed
under the PIC Scheme. From the training of employees to the
acquisition of intellectual property, the use of clear and concrete
instances was effective in bringing the points across. In addition
to the PIC Scheme, Ms Yue also presented some highlights for
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
businesses drawn up in Budget 2012, including the SME Cash
Grant and the enhanced Renovation or Refurbishment Works
Scheme (R&R Scheme).
At the end of the presentations, Mr Anthony Tan, Manager of
the Corporate Tax Division from IRAS joined the two speakers
in a brief panel discussion, deftly handling the questions fielded
by participants and further clarifying some of topics brought
up during the seminar. The participants themselves benefitted
from the queries posed by their counterparts, as well as some
suggested solutions volunteered by the individuals on their end
of the seminar room.
“The speakers made this possibly difficult topic very easy for
me to understand, and the information I have received from
this Seminar encouraged my company to take this chance to
upgrade our equipment to benefit from productivity gains,” said
Mr Jeremy Tan, product manager from LED Works Pte Ltd.
“We are now looking into other ways to increase our productivity
to take advantage of the PIC Scheme,” he added.
To round up an already fruitful day, participants who had
managed to sign up for the PIC Clinics got to speak to IRAS
Tax Officers directly in a one-to-one consultation session held
in the meeting rooms of the ASME office, where they obtained
even more detailed information on the PIC Scheme from the
people best able to answer all their queries.

Ev E n t s
Kn o w In g Yo u R “St A ff”
Knowing Your “Staff”, a manpower-themed seminar
was conducted on 13 June 2012 at the Association of
Small and Medium Enterprises (ASME). Co-organised
by ASME, the Ministry of Manpower (MOM) and the Tripartite
Alliance for Fair Employment Practices (TAFEP) in order to reach
out to SMEs, the half-day seminar highlighted the key essentials
of the contemporary state of employees and employment. The
keys areas covered during the session were Foreign Manpower
Measures, Re-employment of Older Employees and Fair
Employment Practices.
An important and popular topic was the issue of foreign workers,
which was shared by Mr Brian Wong, Assistant Director of
Customer Experience, Policy & Strategy from the Work Pass
Division of MOM. His presentation included further measures
to moderate demand for foreign workers and demonstrated
that support would be provided to companies to upgrade their
operations and improve productivity.
Mr Lau Weng Hong, Deputy Director of Labour Relations and
Workplaces Division of MOM shared detailed insights on the
Retirement and Re-employment Act, what some of the principal
details are as well as the resources available for employers
to leverage upon. The presentation also encompassed the
importance of the older workforce as Singapore faces an ageing
Enhancing Employability of Older Workers
Expand Employment Opportunities for Older
Workers
• Higher Workfare Income Supplement (WIS)
payout
• ADVANTAGE! Scheme
Enhance Cost Competitiveness of Older Workers
• Special Employment Credit (SEC)
population and ageing workforce, as well as how companies
can enhance the employability of older workers.
The last speaker Mdm Tan Hui San, Head of Implementation
for TAFEP gave an update on the recently enhanced Tripartite
Guidelines on Fair Employment Practices, providing tips
with actual examples and case studies to help illustrate the
subject matter.
The day ended with a hearty panel discussion which was led by
Mr Silas Sng, Director, Customer Experience, Policy & Strategy,
Work Pass Division, of the MOM. Accompanying Mr Sng was
Mr Andrew Fung, General Manager of TAFEP, as well as the
speakers, Mr Wong and Mr Lau, who also contributed to an
enlightening panel discussion with a good exchange of ideas
between the floor of SMEs and the panelists. The participants
actively participated in the sessions, fielding good and wellthought-out
questions that broached the full-spectrum of the
topics covered.
“The Seminar was pretty useful,” said Ms Esther Loh, business
development manager for Ah Yat Abalone Group Limited, “even
if there were no new answers to current questions, we now
understand some of the constraints faced by the Ministry and
when we understand these better, we can be better prepared
for any future changes.”
Raise the Skill and Value of Older Workers
• Workforce Skills Qualifications (WSQ) and
Employability Skills System (ESS)
• Workfare Training Support (WTS) Scheme
Shape Positive Perceptions towards Older
Workers
• Tripartite Partners to Initiate outreach/
promotional efforts
• TAFEP
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
7

International Beauty Expo 2012
Ev E n t s
The 2012 edition of International Beauty Expo (IBE),
Malaysia’s pioneer beauty trading platform for industry
professionals, gathered renowned beauty brands under
one roof to showcase the most innovative technology and
latest beauty products.
Organised by Elite Expo Sdn Bhd and supported by the
Association of Small and Medium Enterprises (ASME), IBE
2012 was held from 5 - 8 May 2012 at the Kuala Lumpur
Convention Centre.
Spanning five halls with a total exhibition area of 9,710 square
meters, IBE 2012 features five main beauty themes comprising:
Beauty, Cosmetics & Skincare; Spa & Wellness; Health &
Nutrition; Weight Management and Hair & Nail. It attracted over
144 exhibitors from countries like Taiwan, Japan, Korea, China
and Singapore with 26,000 regional visitors.
Besides sharing sessions by various exhibitors on topics
ranging from body contouring treatment, solutions to skin
problems and modish makeup trends, competitions like the IBE
Hairdresser Awards, Nail Asia Competition and Bloop Make-up
Competition were also held to ramp up the excitement for an
already engaging event.
Palmex Malaysia 2012
The third edition of Palmex Malaysia 2012, an international
palm oil exhibition organised by Fireworks Event (M) Sdn
Bhd, was recently held at the Sandakan Community Hall,
Sabah, from 23 - 25 May 2012. It was officially launched by
Sabah Chief Minister Datuk Seri Panglima Musa Haji Aman on
24 May 2012.
This year, over 50 quality exhibitors from countries such as China,
India, Korea, Malaysia, Indonesia, Germany and Singapore
gathered to showcase the latest in palm oil technology.
Highlights of the trade show included a high-profile palm oil
conference with over 100 attendees who were mostly senior
ranking palm oil professionals; a palm oil refinery visit at IOI and
Wilmar where attendees got to understand more about the
palm oil refining process, as well as the signature networking
night where exhibitors and invited guests from upstream palm
oil companies were treated to a sumptuous dinner coupled with
laid-back networking with potential partners and investors.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
9

10
Ev E n t s
Automechanika
Middle East
2012
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
Automechanika Middle East organised by
Epoc Messe Frankfurt GmbH is the largest
automotive aftermarket trade exhibition in the
wider Middle East. This large-scale Exhibition was
held at the Dubai International Convention Exhibition
Centre (DICEC) from 22 – 24 May 2012, and
concluded with a record-breaking 1,324 exhibitors
from 56 countries along with 20,810 visitors from
128 countries. This further anchors Automechanika
Middle East as the most important exhibition of its
kind in the region.
With a 21% increase in floor space over the last
edition to cover a total event area of nine halls,
the exhibition had the support of 32 international
trade associations and the presence of 22 official
country pavilions.
The Association of Small and Medium Enterprises
(ASME) led the Singapore Pavilion comprising
of a total of 10 companies at this trade fair. This
three-day exhibition generated several positive
comments from the exhibitors. Mr Gareth Chin,
Director of SP Motorsports, one of the exhibitors
under the Singapore Pavilion gave great praise to
this exhibition, “It is the first time we participated in
the Automechanika Middle East and this exhibition
has proven to be a fruitful one.”
“The exhibition gave us the opportunity to interact
with the locals, which enable us to better understand
the business climate and culture in such a short time
span. We realized there is a huge potential for growth
in the automotive industry in the GCC region, and
Automechanika Middle East is the bridge in helping
us to explore this growth”, Mr Chin added.
Automechanika Middle East has successfully given
them a head start in the Middle East market and Mr
Chin is expected to participate in the 2013 edition of
the trade fair. The next Automechanika Middle East
show is scheduled for June next year.

EDC Co r n E r
First Business Advisory Centre
Opened in the Heartlands
Enterprises in the North East District can now tap
on the expertise of business advisors
T
he Enterprise Development Centre (EDC)
at the Association of Small and Medium
Enterprises (ASME) was established on
28 March 2005 to bring business advisory
services to the many small and medium
enterprises (SMEs) in the business environment.
Many SMEs and entrepreneurs alike have
benefited from the advice dispensed by the
EDC’s business advisors, but many smaller to
micro-sized enterprises have little knowledge
or even awareness of the grants they can
leverage upon to upgrade their business
processes.
On 18 June 2012, the EDC@NorthEast was
officially opened by Mayor of North East
District Mr Teo Ser Luck. A new milestone
made possible with the collaboration of
EDC@ASME, the North East Community
Development Council (NECDC) and SPRING
Singapore, EDC@NorthEast is the first
business advisory centre established in the
heartlands.
“As we talk and listen to the business owners on
the ground in the course of the EDC@ASME’s
work, we recognise the need for business
guidance in the heartlands of Singapore,
where many small and medium enterprises
reside,” said Mr Chan Chong Beng, President
of the ASME, during the official launch.
A satellite of the main EDC@ASME, two
dedicated business advisors will be attached
to the consultation centre situated in the
Tampines headquarters of NECDC, assisting
small businesses in seeking the appropriate
assistance channels and also access to
government grants. They will attend to both
prior-arranged appointments as well as walk-in
requests from SME owners and entrepreneurs,
and the services provided at this centre will be
more targeted and designed primarily for the
smaller enterprises.
To that end, the EDC@NorthEast will work
closely with NECDC, the Community Centres
within the District, the Citizen Consultative
Committees as well as the merchant
associations to aid and bring the assistance
schemes closer to the neighbourhood shops
and micro-enterprises populating the North
East District.
“First and foremost, when you are able to reach
out to them, you are able to create greater
awareness of the kinds of schemes available
for them to tap on,” said Mayor of North East
District Mr Teo Ser Luck, on the importance of
improving awareness of assistance schemes
to SMEs.
“With someone there, for example a business
advisor, they can have a coach or a mentor
of sorts to actually explain to them in detail
through a conversation or dialogue on how
they can actually apply (for the schemes),” Mr
Teo added.
Looking ahead, more such heartland EDCs
can be established in the other districts as
well, bringing their expertise to the smallest
enterprises that can make full use of the
wide range of government schemes and
grants available for them to upgrade their
businesses.
Address:
North East Community Development Council
300 Tampines Ave 5, #06-01
NTUC Income Tampines Junction
Singapore 529653
Operating Hours:
Monday to Friday: 1.00PM to 5.00PM
Tel: 6424 4000
Fax: 6424 4066
Email: northeast@edc-asme.sg
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
11

12
CA l E n D A r of Ev E n t s
Ev E n t s tr A D E fA i r s
Inter-Association
Networking Night 2012
25 July 2012
Having received overwhelming
response last year, the Inter-
Association Networking Night has
since become ASME’s flagship
event, hosted annually with other
supportive Trade Associations
and Chambers of Commerce (TA/
Cs). Join us for a night of revelry
and network with members
of participating organisations as
you reach out to a wider pool of
potential collaborative partners and
investors in an informal and relaxed
setting.
sE m i nA r s
Branding – Your Best Strategy
SPBA Branding Seminar
(SPBA)
16 July 2012
The Seminar aims to cover the various
aspects of Branding as a strategic
tool for companies to overcome
tough economic times as well as
thrive with the economy. Some topics
that will be covered include brand
development and communication,
and internal branding.
Make the right move; start building
your brand today
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
PS/ HVACR Asia 2012
5 – 7 September 2012
PS Asia 2012 in its 11th staging is Asia’s most
established premier international exhibition on
Fluid, Air and Gas Handling Systems. This leading
international event set to take place at Marina
Bay Sands, Singapore provides the most ideal
marketplace for global manufacturers and suppliers
to launch new products, reach out to buyers, appoint
agents and distributors, build brand awareness and
establish business networks in Asia.
Automechanika Frankfurt
11 – 16 September 2012
As the world’s biggest trade fair for the automotive
aftermarket, the Automechanika spotlights innovations
and solutions in the fields of parts, systems, tuning,
workshop equipment, bodywork & paintwork, car
wash, IT & Management and the latest automobile
services. The upcoming Automechanika series will
be held from 11 to 16 September 2012 in Frankfurt,
Germany.
Paperworld China
19 – 21 September 2012
Paperworld China 2012 is one of the premier trade
exhibitions for paper, office supplies and stationery
items. Attracting thousands of buyers each year,
the trade fair makes an ideal business platform for
exhibitors wanting to expand their networks in China.
At Paperworld China 2012, visitors can expect to see
various products in the four major segments; school,
home and office with private and business products.

14
pr o p E r t y
A Quick
Checklist For
Smart Retail
Property
Investors
Guarantee beneficial
returns on your
property buys
Retail properties can make or break an investor. What
seemed like a good deal at the time could end up being
the ruin of an unwary buyer. The following checklist will
help you ensure sound returns on your retail property.
Four items to check
Seeking, selecting and buying a property can be a complicated,
strenuous affair, so arming yourself with brief, to-the-point
checklists like the one below is an ideal way to keep on top
of things.
Here is a brief list to check when considering a retail investment.
• How is the customer traffic?
• How is the timing of the offer?
• How is the location?
• How will I market the location?
How is the customer traffic?
Customer traffic should never be neglected. All retail shops need
customers to physically walk into the store before business can
be conducted, so high customer traffic is crucial. Remember
that no amount of marketing can make up having for little to
no traffic; who’s going to be around to take advantage of your
promotions anyway?
Therefore, you want to check first and foremost that the retail
unit enjoys high customer traffic and good flow. It should be
easily accessible at all times of the day, and it should also enjoy
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
high visibility. Nothing turns a potential customer off faster than
a difficult-to-find or hard-to-access location.
For that reason, it is worthwhile to consider spending a little
more for a shop with a prominent shop-front. All things being
equal, customers are going to patronise the shop that is the
easiest to locate and enter.
How is the timing of the offer?
It may be tempting to jump in and grab that newly vacated unit
at the established shopping mall. After all, fortune favours the
bold, does she not? But before you grab the bull by the horns
and go ahead with your fine china shop, you might want to
check the timing of the offer.
Consider the maturity of the mall your offered retail space is
located in: it should not to be too young, nor too old.
If the shop is located in a mature mall, its price would have
appreciated some. You could therefore be paying top dollar for
the unit, lengthening the period before you start seeing returns.
Instead, wait a while for the price to come down.
If the shop is located in a newly built shopping centre, you run
the risk of picking up a dud; the shopping complex may have
trouble attracting the necessary critical mass of customers,
making it difficult for you to lease out your unit. Instead,
observe the shopping centre for a while more to better gauge
the potential of your targeted unit.

How is the location?
Essentially, location is the most important
factor when considering a retail property
investment – whether you’re looking at
individual shops or an entire building.
A property in a new development area
may be offered at an attractive price.
However, it may suffer from a lack of
accessibility and infrastructure, factors
which require time to overcome. Is your
investment timeline up to the challenge?
Another factor to consider is the type
of units that are available nearby. Are
there alternative options that could give
you a better value proposition? What
is the shop density of the area you are
looking at? Too sparse and there could
be trouble maintaining steady customer
flow. Too crowded and you could have
difficulty getting shoppers to take notice
of your unit.
Lastly, do find out the expected rental
yield of the property – with a professional
Swiss
quality
worldwide worldwide
valuation if necessary. Making a decision
based solely on the face value of the
unit’s purchase price could result in suboptimal
returns on your investment.
How will I market the
location?
One of the most important things to ask
yourself is whether you have a clear plan
for marketing your unit.
It may be tempting to simply take
whichever tenant that comes along;
it certainly seems quicker. However, if
you keep attracting tenants that are
the wrong fit for the location, or simply
offering the wrong type of good and
services, you will not be able to establish
long-term business value. Worse, you
could have tenant after tenant packing
up and leaving, forcing you to deal with
protracted periods with no income.
Instead, strive to install the correct
tenant in your unit. If your tenants do
You buy and sell.
pr o p E r t y
well, they are much more likely to want
to stay on, giving you more leverage
to negotiate for a more advantageous
deal. You can dramatically increase the
chance of attracting the right tenants
with a clear marketing plan for your
commercial property.
Remember the checklist
The next time you are out hunting for a
retail property to invest in, lighten the
selection process and avoid common
pitfalls by making use of the simple
checklist provided in this brief guide.
CommercialAsia.com
We store.
We send.
We insure.
We offer customs advice.
We offer returns solutions.
We can support you to ensure that you have more time to
focus on your core business. Our standard and customised
service solutions will help you reach your targets worldwide.
More information is available under +65 6748 4484 or
www.swisspost.sg/distance-selling
Excellence delivered.
For distance selling.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
15

16
sp E C iA l
Turn your investments
into tax $avings under the
Productivity and innovation
credit (Pic) scheme!
Find out how businesses can enjoy huge
tax savings for investments in innovation
and productivity improvements under the
PIC scheme.
What is PIC?
PIC is a broad based tax scheme that is available to all businesses to support their investments in productivity and innovation.
There are six types of productivity improvement activities that businesses can invest in to enjoy huge tax savings in the
form of a Cash Payout and/or Tax Deduction and they are:
Acquisition or leasing of PIC Automation Equipment
Training of Employees
Acquisition of Intellectual Property Rights
Registration of patents, trademarks, designs and plant varieties
Research and development activities
Investment in approved design projects
How can my business benefit?
The good news is businesses can benefit from all six investment types!
Businesses can choose from two options:
Cash Payout Option
• Businesses can apply to convert up to $100,000 of their investment spending into a non-taxable cash payout. This is to
benefit businesses that pay little or no taxes currently, but wish to invest in productivity and grow the business.
• The PIC cash payout option is available from Year of Assessment (YA) 2011 to YA 2015 at a conversion rate of 30% for YA
2011 and YA 2012, and 60% for YA 2013 to YA 2015. The higher cash conversion rate of 60% was announced in Budget
2012 to further support businesses in investing in innovation and productivity.
• To be eligible for the cash payout, the business must employ:
• At least three local employees (Singapore Citizens or Permanent Residents with CPF contributions, excluding
sole-proprietors, partners under contract for service, and shareholders who are also directors of companies).
• Carry on business operation in Singapore.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t

sp E C iA l
• The maximum cash payout is: a total of $60,000 for YA 2011 to YA 2012 (30% x combined spending cap of $200,000)
$60,000 (60% X $100,000) for each YA from YA 2013 to YA 2015.
How to claim the Cash Payout?
To apply for cash payout for YA 2012, business can simply send the completed “PIC Cash Payout Application Form”
available on www.iras.gov.sg to IRAS any time after the businesses’ financial year-end, but no later than the filing
due date of income tax return of 30 Nov 2012. From YA 2013 to YA 2015, businesses may opt for the cash payout on a
quarterly basis any time after the end of each financial quarter, but no later than the filing due date of income tax return for
each YA.
Businesses will receive the payout within three months from the date IRAS receives the PIC cash payout application form.
Need help or more information? Contact IRAS.
Website: http://iras.gov.sg/irashome/PIcredit.aspx
(www.iras.gov.sg I Businesses I For companies I Productivity and Innovation Credit)
Helpline for Companies: 1800-356 8622
Helpline for Sole-proprietor/Partnership: (65) 6351 3534
Email: picredit@iras.gov.sg
400% Tax Deduction/Allowances
Businesses can enjoy 400% tax deduction/allowances on
up to $400,000 of their spending per year in each of the
six activities.
In addition, businesses can combine their spending across
years of assessment for each activity to enjoy the maximum
benefits from PIC. For YA 2011 and YA 2012, a combined
spending cap of $800,000 applies for each qualifying activity.
This means a combined tax deduction of up to $3.2m (400%
x $800,000) for each activity.
For YA 2013 to YA 2015, a combined spending cap of
$1.2m applies for each qualifying activity. This means a
combined tax deduction of up to $4.8m (400% x $1.2m) for
each activity.
How to claim the Tax Deduction?
Businesses can make the claim for enhanced tax deduction
under PIC in their income tax returns for the relevant
qualifying YA.
Sole-proprietors and partnerships will also have to submit
the “PIC Enhanced Allowances/Deductions Declaration
Form for Sole-proprietors & Partnerships” (www.iras.gov.
sg I Quick links I Forms I Individuals) with their yearly income
tax returns.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
17

18
sp E C iA l
Waiver of eci Filing
and Form c-s for small
companies
Simplifying Tax Filing for Taxpayers,
Facilitating a Pro-Business Environment &
Raising Productivity
IRAS has recently announced two new initiatives that will
simplify income tax filing for small companies with an annual
turnover not exceeding $1 million. These initiatives will
help qualifying companies reduce their compliance costs and
improve their overall productivity and efficiency.
The first initiative --- Waiver of ECI Filing for Small
Companies with NIL Estimated Chargeable Income
(ECI). Currently, all companies have to file an estimate of their
chargeable income (nil or otherwise) within 3 months after the
end of their accounting period.
Soon, small companies will not be required to file their ECI if
it is estimated to be nil. In other words, they save one step in
their overall filing process and can channel their time and efforts
towards preparing for annual income tax reporting. This change
will take effect from Year of Assessment 2013 for companies
with accounting year ending October 2012 or after.
The second initiative is the Simplified Income Tax Return,
Form C-S, for smaller companies. Currently, all companies
report their income using Form C, a 7-page Income Tax
Return. They also have to send in their financial accounts and
tax computations.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
F ORM
Simplified Tax Filing for C ompanies
Smaller companies, especially those that do not engage tax
agents, may find it time-consuming to complete Form C. These
smaller companies tend to have less complex transactions,
fewer tax claims and fewer tax adjustments compared to larger
companies. From this year, the Year of Assessment 2012,
small companies with an annual turnover not exceeding S$ 1
million will find tax filing much faster and easier with the new
Form C-S.
These smaller companies need only provide the following
information in the 3-page Form C-S:
• A declaration statement that the company is eligible for
Form C-S filing;
• Information on tax adjustments; and
• Information from the financial accounts

Furthermore, small companies do not need
to submit their financial statements and tax
computations with Form C-S. Nevertheless,
they should maintain proper and complete
records of business transactions, prepare their
financial statements and tax computations and
submit them if requested by IRAS.
Last but not least, to provide companies with
greater convenience, electronic filing of Form
C-S will be available at myTax Portal (https://
mytax.iras.gov.sg) from 16 July 2012. Small
companies will have the option to either e-File
or paper-file Form C-S. Companies who
choose to paper-file have until 30 Nov 2012 to
do so.
Companies who e-File will enjoy the following
benefits!
• A 15-day extension of filing due date to 15
Dec 2012
• Filing convenience with:
• iHelp facility to guide them along as
they e-File
• In-built formulae to auto-compute
relevant fields
• Save draft function
• Auto-computation of estimated tax
payable
• Receive an instant acknowledgement
when they have successfully e-Filed.
To help companies understand their filing
obligations and the new Form C-S, IRAS is
holding a series of free corporate tax seminars
and e-Filing workshops to guide companies.
Details of the seminars and workshops are
available on IRAS’ website at www.iras.gov.sg.
For more details on Form C-S, visit http://iras.
gov.sg/irashome/FormC-S.aspx.

20
Co m m E n tA r y
MAKE THE RIGHT IT
INVESTMENTS
Maximising IT for SMEs during
economic uncertainty
Almost every SME in Singapore today uses information
technology (IT) in one form or other. However, many SMEs
grope in the dark to find the right mix of infrastructure
and applications in order to make IT work best for them; during
uncertain economic times, it then becomes easy for IT to
be overlooked in the quest for survival. How then should an
SME view IT during challenging times, and what can it do to
maximize IT investment?
IT, if deployed correctly, should improve efficiency, productivity,
while reducing costs
for the organization.
Hence, making the right
IT investments is still
essential, even when
markets are trending
downward.
Leasing your
infrastructure
Seldom does any IT
product stay fresh in the
market beyond a year,
and seldom do IT users
themselves keep the
device beyond five years.
Outright expenditure
may not be your only
option when belts are
tightening; all good system
integrators work with leasing companies to give SMEs on
budgets the option to save on upfront purchasing costs.
However, be sure to factor in medium term expansion plans
(3-5 years) and business needs when making the decision;
increasing the number of leased arrangements does not
correspondingly increase company assets under balance
sheets, and depending on the equipment, comparatively lower
total cost of ownership (TCO) can be achieved if the company
simply stretches hardware lifecycles further, for example by redeploying
older notebooks to more junior or temp staff.
Cloud
Singapore is a connected state, which means software-as-aservice
(SaaS) platforms – in which software and connected
data are centrally hosted on the cloud – are viable alternatives
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
to large scale IT infrastructure for SMEs, whilst reducing inhouse
manageability in the long term.
Outsourcing IT support
Outsourcing does not have to extend to the complexities of
cloud; something as simple as maintenance of IT systems can
be outsourced. Keeping in-house IT support can be expensive,
and in many SMEs staff in other roles often fall back as IT
support, impeding productivity. Everyone’s busy, so leaving it
to the experts also means better allocation of resources.
Think big picture
Find a preferred IT partner
that you can trust and
work well with; the usual
process of obtaining
three quotes is important,
but upfront price should
not always be the only
consideration and you
cannot put a price on
advice that will lower your
entire TCO. One tip - if
your IT partner sells more
of a particular brand,
chances are going with
that brand as well will
save you more money
than going with a similar
product from another
brand, due to economies of scale that allow your partner better
price negotiations.
Government grants
It is little surprise that SMEs are able to offset investments in
some of these areas, including investments in IT, by utilising
government grants providing rebates on corporate tax or even
upfront reimbursements. There are several grants out there,
such as the Productivity and Innovation Credit (PIC) Scheme,
so make use of these to save money in the short term and
ramp up business productivity in the long run.
Specify needs and objectives to IT partner
IT today does not reside solely within the server room, and
likewise is not an isolated function within the organisation.
Enabling IT to work for your business productivity can be a key

differentiator in this competitive landscape. The better
you are able to communicate your business goals
to your IT partner, the better your partner can align
these with IT to help you attain your objectives of profit
maximisation, especially during difficult times.
Prioritize your investments
Often common sense, but IT manager objectives
can be very different to business objectives, and a
responsible IT partner will guide the IT manager back
towards what really matters. For example, fiber optic
cabling within the company would be nice, but server
performance could be the actual bottleneck within the
data center, rendering such investment in expensive
cabling altogether unnecessary.
Do not scrimp on security; although bottom line is
important, this should not come at the expense of
failure in mission critical systems. Other times, some
solutions may not be for your company at all: desktop
virtualisation for example can provide huge cost
savings and increased security for segments such as
education or healthcare, but may not be so suitable
for graphic-intensive applications.
Beyond that, proper housekeeping will ensure that the
ship is watertight to rough out tough times. Enterprise
Resource Planning (ERP) systems can be both a boon
and bane to any organisation; inventory management,
for example, is only as good as the quality of control
and processes built to ensure accurate updates.
Ensuring that new staff are trained from day one on
proper processes will go a long way in preventing
headaches down the road - after all, a system is only
as good as its user.
Likewise, if you have your own internal IT support,
providing training on the latest pertinent developments
in IT is absolutely essential to ensure that this resource,
although non-revenue generating, continues to be
an asset by giving the company the most value and
productivity on each dollar spent on IT.
Reuben Tan
Country Director
Ivolute Technologies

22
Co m m E n tA r y
Noble Group Limited
18th Floor, MassMutual Tower, 38 Gloucester Road, Hong Kong
Tel +852 2861 3511 Fax +852 2527 0282
www.thisisnoble.com
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
New frontiers.
Opening new markets. Driving innovation. Pushing boundaries.
With the relentless spirit of pioneers.

24
Co m m E n tA r y
In today’s highly competitive business
environment, a good IT infrastructure
will only benefit enterprises regardless
of their nature – be it sales, engineering
or marketing. One commonly used
IT tool is the customer relationship
management (CRM) system, software
designed to keep track of customers
and clients while allowing ready access
to information pertaining to them.
A good CRM system will benefit any
and all businesses involved in selling
products or services, allowing them to
track targets, long-term trends as well as
customer preferences. That said, CRM
systems do not come cheap: systems
incorporating exotic functions like the
Sales Automation Force and contact
management software can easily amount
to upwards of millions of dollars. This
effectively dissuades small and medium
enterprises (SMEs) from adopting such
a system, while potentially profitable
can only be afforded by the largest
of companies boasting the biggest IT
support budgets.
“CRM with operation tracking might
not be sufficient to fulfil the needs of
CRM for business. CRM without
analytics is like keeping track of
customers’ information without the ability
to think,” said Ms Irene Boey, Consulting
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
Director at Integral Solutions (Asia) Pte
Ltd, on the importance of appropriate
CRM elements.
“Thus the right analytics (data mining)
strategy will ensure that SMEs
benefit tremendously from their CRM
implementation. Data mining will be able
to discover root causes to help SMEs
generate more profit and improve
productivity,” she advised.
In addition, designing and then
implementing a CRM system is not
something that can be done in a workday.
The setting up of a fully-fledged system
could take days to even weeks, and
even then employees must receive
rigorous training in order to properly
use and manage the new CRM
system. Furthermore, many features in
a CRM system are unneeded or
underutilised by smaller businesses,
turning into additional costs and
deadweight. All these translate into
escalated IT budgets for a system
that can never be fully used to its
fullest potential.
Case in point: Australian Reef Pilots is
a marine pilotage service provider that
aids ships to safely traverse the pilotage
areas of the Great Barrier Reef and Torres
Strait. For their day to day business,
the company receives requests from
customers requiring pilots to guide some
160 ships a month while still ensuring
the safety of said pilots. Australian
Reef Pilots also collects and analyses
data including pilot history, schedules,
shipping information, environmental data
and material from regulatory bodies – this
necessitates a dependable and powerful
CRM system to manage the inordinate
amount of daily data.
To further put into perspective the amount
of data exchanged in the course of the
company’s business, information crucial
to the trade come from a plethora of
Managing Customer
Relationships
– A Case Study
A good customer relationship management
system will do wonders for your business
different sources: internal Microsoft Excel
spreadsheets, Microsoft Outlook data,
customer feedback as well as details from
both the Federal and State government
regulatory bodies. For bookings, Excel
spreadsheets were used in conjunction
with Outlook, but manual data entry had
a high margin of error and produced
unreliable data, affecting the everyday
business of the company. Australian
Reef Pilots required a more streamlined
and efficient way to both manage
the booking process as well as to unify
the company’s distributed workforce (the
pilots and the support staff).
In the span of three months (October
to December 2011), the pilotage
company implemented a marine-

industry solution built on Microsoft Dynamics’
CRM Online, a powerful CRM software provided
as a cloud service from Microsoft boasting
remarkable features like instant access from
virtually anywhere in the world. With this new
system in place, Australia Reef Pilots dramatically
transformed its booking process, reducing the
margin of error by an impressive amount. This
restructured booking system also improved vital
business processes like customer management,
safety performance audits, invoicing and financial
reporting. The new CRM also allowed Australia
Reef Pilots to streamline not just its booking
system, but the entire IT infrastructure within
the company.
Needless to say, Mr Simon Meyjes, Chief Executive
Officer of Australian Reef Pilots is pleased with
the end results, “We’ve achieved nearly all our
objectives for the new system in a very short
timeframe and at a surprisingly low cost.”
“For smaller businesses, nurturing and retaining
your loyal customers becomes increasingly
important as your business matures,” according
to Mr Michael Park, Corporate Vice-president
of MBS Sales, Marketing and Operations at
Microsoft Corporation.
The use of an advanced CRM system (if built and
implemented properly) will do wonders for any
business, but caution must be exercised when
considering its use, for a myriad of different factors
will affect the eventual look and feel of the final
system. Businesses – SMEs in particular – must
copiously assess the full spectrum of specifications
and technicalities before settling on a system that
will best suit their needs.
“Giving your customers the best experience begins
with a complete view of your sales pipeline, but
it does not end there. A customer relationship
management (CRM) system will integrate people
and technology to maximise external relationships,”
Mr Park finished.
Co m m E n tA r y
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
25

Ads

Co m m E n tA r y
Business Analytics: A Key Driver of your Business’
Competitiveness and Growth
Discover greater insights about your customers and
operations, and improve efficiency and profitability
M
any successful businesses such as leading banks, retailers,
pharmaceutical firms and even sports teams today depend on
business analytics and the strategic application of business
analytics that can help organisations turn data into invaluable and
actionable insights. Data-driven organisations treat their data as a
corporate asset and leverage on it for competitive advantages, which
can help fuel growth of sales, boost productivity, act as a means to
manage costs, a resource-optimising tool and can even help improve
and drive decision making.
So how can Data & Analytics add value to your business?
• By improving the quality of products and services, e.g. analysing
product usage patterns to uncover customer needs and guide future
product development and innovation.
• By optimising processes, e.g. optimising production and distribution
processes to reduce processing time and resources needed while
increasing throughput.
• By identifying more targeted actions to maximise returns, e.g.
analysing customer data to identify and engage customers who will
be most likely to respond to marketing campaigns.
• By identifying potential business risks, e.g. analysing business
transactions to detect fraud.
• By improving and speeding up the decision making and planning
process.
• By better aligning resources with strategies.
• By realising cost efficiencies.
• By responding to user needs for availability of data on a timely basis.
8 Essential Steps to Getting Started with Business Analytics
– Jim Davis, SAS
• Improve the flow and flexibility of data
• Get the right technology in place
• Develop the talent you need
• Demand fact-based decisions
• Develop an analytical centre of excellence
• Transform the culture
• Revise your strategies – often
What’s in it for local companies?
Business
Analytics
Sales
• Derive greater insights to customers’ needs
• Improve service level
Operations
• Minimize inventory holding
• Increase overall operational efficiency
Infocomm Development Authority of Singapore (IDA) had announced that enterprises in the retail and wholesale sectors can look forward to a
comprehensive suite of Business Analytics shared services to enhance their competitiveness starting mid-2013. IDA and its industry partners
will be investing a total of $5.3 million and has appointed three service providers (Manthan Systems, CyanSYS and PracBiz) through a Call-for
Collaboration to provide these analytics services.
“IDA has identified Data and Analytics as a strategic focus area, and aims to develop Singapore into an international Data and Analytics Hub.
We take an integrated approach in catalyzing the growth & competitiveness of key economic sectors through greater adoption of analytics, and
strengthening our industry capabilities to capture the growing opportunities in global demand for Analytics services. This integrated approach
involves seeding adoption, developing industry & manpower capabilities and putting in place scalable infrastructure,” said Ronnie Tay, Chief
Executive Officer of IDA on the recent Business Analytics Seminar & Exhibition 2012 held on 31 May 2012.
IDA’s initiative aims at lowering enterprises’ cost of adoption, shorten implementation time and make available analytics services on tap by the retail
and wholesale sectors. Six user enterprises are currently participating in this initiative as early adopters and they will work with the selected serviceproviders
to create ready-to-use analytics applications for different retail segments spanning grocery, consumer electronics and departmental
stores. Subsequently, more enterprises can also benefit by subscribing to these analytics applications.
IDA organised Business Analytics Seminar & Exhibition 2012 which was held on 31 May 2012. Speakers from various distinguished organisations,
with a wealth of experience and knowledge on business analytics, shared valuable market insights, highlighting the benefits of what business
analytics bring for businesses.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
27

28
Co v E r st o r y
Business is competitive. To stand out
from their competitors, companies
invest a lot of resources to innovate
and try to carve out a niche for themselves
in the marketplace. Unfortunately, once
developed and introduced in the market,
these innovative ideas, technological
advances and successful brands are
often “borrowed” by other firms for their
own use. What can companies do to
protect their innovations and ultimately
their businesses?
Seeing the need for businesses to protect
their intellectual property (IP) assets
in order for them to survive and grow,
Mr Chiew Yu Sarn and Ms Audrey Yap
established Yusarn Audrey, a boutique
intellectual property law firm with a focus
on all aspects of IP, in particular its use
as a strategic business tool. Being
entrepreneurs themselves, Yu Sarn and
Audrey both intimately understand the
challenges faced by fellow entrepreneurs,
allowing them to better assess, evaluate
and then implement a suitable and
effective IP programme for their clients.
Yu Sarn has broad qualifications in this
field; he is an Advocate & Solicitor of
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
the Supreme Court of Singapore and is
enrolled as a Solicitor of England and
Wales. He is also a Certified Licensing
Professional (CLP), a US-based
designation with members worldwide
which recognises his expertise not
just in IP law, but also in the business
of commercializing IP. Yu Sarn’s
practice is broadly in the area of IP
and corporate and commercial law,
especially in the commercialization of IP,
including franchising, licensing, research
collaborations, joint ventures and IP-related
private equity transactions, to name a few
types of transactions he advises on. Using
his wealth of experience and innovative
methods, Yu Sarn recently advised
a multinational telecommunications
company in a joint venture with a global
payments company involving the licensing
of valuable technology and IP.
When asked about the importance of
Singapore companies securing their own
intellectual property and the need to
protect vital elements of the business, like
superior technology and trademarks, Yu
Sarn replied, “Superior technology won’t
stay ‘superior’ for long if everyone can
copy it. You won’t be able to distinguish
your products and services from others
by your brand name or logo if others
can imitate it and get a free ride on your
reputation and goodwill while damaging
your brand.”
As part of the firm’s philosophy,
professionals at Yusarn Audrey work in
integrated teams, bringing together IP
and corporate lawyers as well as patent
agents to work towards a common goal
- to bring value to a client’s IP assets. It
is this unique combination of disciplines
– legal, technical and strategic – working
seamlessly together that enables Yusarn
Audrey to deliver a complete and operative
IP programme. “We can’t do this without
our unique mix of professional expertise
and strategic focus,” Yu Sarn says, as he
talks about the firm’s strengths.
Speaking of how the firm has
assembled its team, “People come to
us in different ways. Some of our longstanding
employees have come through
introductions by their friends who were
already in the firm. Others responded to
an advertisement. But once you are with
us, we take care to develop you and bring
you into our culture and way of doing

No Law or
Ordinance is Mightier
than Understanding
things,” explains Yu Sarn. “Every year, we
have a firm retreat, and we always start by
inducting new staff into our foundational
values. But more than that, we must act
according to our values and beliefs every
day, especially the leaders of the firm,
starting from the partners. A core value we
share and practice is that we care about
people, be they our clients or our staff.
You cannot expect people to care about
your business if you don’t care about
them.”
He continued, “If I could clone my partners,
I would! Since that is not possible, the
next best thing is to develop the next
generation of leaders, so that they can
carry on after I am gone. That is of course,
if we continue to make our firm relevant
to the needs of our clients, to be ahead
of them so we can lead them to a better
place, so that there is a reason for Yusarn
Audrey to exist.”
Audrey, Yu Sarn’s comrade in the
business, echoes his sentiments: “The
family of ‘Yusarn Audrey’ - my partners,
associates and staff at Yusarn Audrey
are among the most amazing people
I know.”
“Hardworking, smart and always willing
to go the extra mile, they share the
common values of the firm of building and
protecting the dreams of our clients. We
have a championship team for which I
feel very blessed,” she added.
With a career in law spanning more than
two decades, Audrey’s experience in
this field is nothing short of stellar. As a
Registered Patent Agent in Singapore
as well as an enrolled Solicitor of
England and Wales, Audrey’s area of
practice is rooted in intellectual property
management – from trademark advice to
filing patent applications to franchising
and copyright advice. As due recognition
for her contributions to the field of IP,
Audrey is the only practicing lawyer in
Singapore to be listed in 2012’s IAM 300
World’s Leading IP Strategists - which
was just announced last month - for the
fourth year running.
Although local companies have excellent
IP assets, many lie dormant and unused
because the companies do not know how
to make use of them. In the end, these
potentially profitable business elements
Co v E r st o r y
Being entrepreneurs themselves,
founders of boutique law firm Yusarn
Audrey understand the challenges of
building and sustaining a business
By James Tan
never get translated into revenue, nor
is the true value of those IP assets ever
fully realised. Not content with using the
traditional approach of looking at IP from
just a purely legal perspective, Audrey
approaches the subject matter from a
holistic standpoint, helping companies –
and even governments – to effectively use
IP as an economic tool for growth.
“It is an incredible feeling to see my clients
succeed in their endeavours, whether
to grow in a sustainable way or to soar
beyond the shores of Singapore and
make their mark as regional and global
companies,” Audrey maintains, “It gives
me great pride to know I have in some
way contributed to that by developing
strategies for them that don’t just pay lip
service to IP, but really work because they
are tailored to what the client needs.”
With the valuable lessons learned from
being entrepreneurs themselves coupled
with a holistic view of intellectual property,
Yu Sarn and Audrey fully comprehend the
arduous entrepreneurial journey, allowing
them to truly ignite possibilities.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
29

MAKE THE
RIGHT BRANDING
MOVE WITH SPBA
For more details, please contact:
Tel: 6513 0335 / 0365 / 0371
Email: spba.secretariat@asme.org.sg
www.spba.com.sg
Ad

A single chess piece can be moved many ways, each a potential game-changer with the possibility
of resulting in victory or defeat. Branding can be likened to this ancient game of strategy, an intricate
and strategic process which gives businesses a sense of identity in the crowded marketplace. Similar
to the moves of a chess piece, there are many paths to guide your brand to new heights and to
secure a spot in the upper levels of recognition.
Jointly organised by the Association of Small and Medium Enterprises and Lianhe Zaobao, the
Singapore Prestige Brand Award (SPBA) is an established accolade that recognises and rewards local
brands that have successfully risen above the fold, achieving prominence within their respective
industries.
Now into its 11th year, SPBA has come a long way since its inception, positioning itself as the premier
branding award sought after by local brand owners. Reputed as an effective platform for companies
to springboard their operations into overseas markets, the Award continues to induct deserving
recipients to its growing list of prestigious winners.
In line with the dynamic marketplace, SPBA consists of five Award Categories:
• SPBA - Promising Brands (established between 3 and 8 years)
• SPBA - Established Brands (established between 6 and 30 years)
• SPBA - Heritage Brands (established for more than 30 years)
• SPBA - CIMB Regional Brands (established for at least 3 years and with presence in at least 5 foreign markets)
• SPBA - Special Merit (for government agencies or not-for-profit organisations established for at least 3 years)
s
An Overall Winner will be selected from the recipients of each Award Category, with the exception of
SPBA - Special Merit. In addition, a SPBA - Most Popular Brand Winner will be chosen through a public
voting process for each Award Category with the exception of SPBA - Special Merit.
MAIN MAIN SPONSOR
SPONSOR
Make the right move, get your SPBA.
Submission Deadline
12 noon, Monday, 13 August 2012
CO-ORGANISED BY
CO-ORGANISED BY Y
SUPPORTED SUPPORTED BY

32
Co v E r fE At u r E
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
IGNITING
POSSIBILITIES
Enhancing business through harnessing the power of IP
In 1999, when Yusarn Audrey (then known as Yu Sarn Audrey & Partners) first started, very few people in Singapore had ever
heard of an Intellectual Property (IP) specialist law firm. It was among the first law firms established to serve clients in this
specialised field. However, the firm set out to do more than that; it wanted to be a law firm that created value for clients.
At that time, the founding partners, Mr Chiew Yu Sarn and Ms Audrey Yap, had a vision of the future of business and realised that
the most successful companies and organisations will be those who harnessed their intellectual assets - those intangible qualities
that make them uniquely powerful in the marketplace, using them to achieve their mission. Yet, there was no guidance available
for organisations to take practical steps in identifying what these intellectual assets are and how to get value out of them.
Yusarn Audrey saw that their role as IP professionals gave them a unique opportunity to add value: to help clients use IP strategically
for their businesses. So, the firm and its services were organised around this central idea: that IP is a powerful business asset
and must be managed strategically. Everything that the firm did for its clients must help them create, protect and harness this
valuable resource.

In addition, Yusarn Audrey has developed new IP strategic
advisory services to ensure that the client’s IP activities
support and enhance their business strategies and
objectives. By helping the client to begin managing their
IP in alignment with their business and mission, Yusarn
Audrey sought to change the way clients look at IP - it is no
longer just an expense, but an asset and an investment for
the future growth of the organisation.
Yusarn Audrey’s experience in educating businesses and
organisations about IP management and strategy had
an additional benefit: a clear understanding that client
empowerment is the key to the firm’s growth. The more
clients knew about IP management and strategy, the better
they could use Yusarn Audrey’s unique expertise and the
more they would benefit from the firm’s services. Yusarn
Audrey now has client training and education as one of
Co v E r fE At u r E
the cornerstones of its service offerings, including an IP Coaching
programme as well as specialised IP Strategy and Management
modules for senior management. A very effective new training
module the firm has begun to provide is an Invention and Patenting
Workshop whereby clients (including non-technical people) are
given hands-on practice how to create inventions that are relevant
and strategic to their business during the workshop itself.
Today, Yusarn Audrey has established itself as true IP strategists
among IP service providers in Singapore and the region. Their firm is
made up of world-class experts in the field of IP strategy including,
amongst others, the only person in Singapore to be included in IAM
Magazine’s prestigious list “IAM Strategy 250 – The World’s Leading
IP Strategists” for all four years that the list has been published.
Clients that have worked with Yusarn Audrey over the years
appreciate the difference. One client for whom the firm has protected
his brand worldwide remarked, “My business has grown so fast, on
any given day, my brand is being used somewhere in the world. The
reason I can sleep well at night is I know you guys are protecting
me. Because of what you do, I can build my business with peace of
mind. You are a protector of dreams.”
With a clientele ranging from small and medium enterprises to
regional and multinational companies, government agencies, public
research institutions and universities, the firm has now reached a
stage in its development where it is necessary to review its branding.
In a survey of its clients conducted last year, it was found that the
general perception was that the image of the firm was not in keeping
with its capabilities.
With that in mind, the firm undertook a rebranding exercise to
create a distinct brand identity as a platform to establish its unique
brand position as IP strategists. The brand project culminated in the
change of the firm’s name to “Yusarn Audrey” along with a radically
re-designed logo, combining the letters “Y” and “A” to form a classic
and timeless symbol representing the strength and sophistication of
the strategic IP capabilities the firm offers its clients. The firm has
also adopted the tagline “Igniting Possibilities”, reflecting the firm’s
brand vision and mission – to open up a new world of possibilities for
its clients to create value using their untapped intellectual property
and assets.
As Audrey puts it, “This is what we live for in Yusarn Audrey and
makes us passionate about our work. We want to ignite new and
exciting possibilities for our clients using IP.”
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
33

34
AD v E r t o r iA l
serangoon gardens
country club
Where Business Meets Pleasure
A
breath of fresh air and away from the city, Serangoon
Gardens Country Club is a sanctuary for the busy
executive. Nestled within the suburbs of Serangoon and
easily accessible via expressways, the Club offers a variety
of function rooms that are perfect for business events of any
size.
Our biggest venue is the Kensington Ballroom which can
accommodate up to 500 people and can be divided into
separate rooms according to your requirements. The ballroom
is suitable for product launches, seminars, and dinner &
dance events. We also offer smaller function rooms which can
accommodate 10 to 50 people.
Besides the formal venues, the Club boasts a wide variety of
facilities ideal for social gatherings, team building activities or
after-hours fun. You can choose to hold your lunch meetings
in our fine dining restaurant, organize a casual get-together
with fun activities at our Sports Bar or a networking event at
our Dance and Music Lounge. We can also organize bowling
competitions for team building events, karaoke sessions or
BBQ outdoor events for social gatherings.
Our well-trained chefs specialize in a variety of cuisine from
local delights to international fare. We can also accommodate
special dietary requirements according to your needs.
At Serangoon Gardens Country Club, we pride ourselves in
offering you a wide selection of venues with great food and
service, whether for business or pleasure.
Serangoon Gardens Country Club
Tel: 6286 8888, 6398 5381, 6398 5365
Email: banquetsales@sgcc.com.sg
Web: www.sgcc.com.sg
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t

Kensington Ballroom
Seating Capacity: 400 – 500 pax
Beer Garden
Seating Capacity: 80 – 100 pax
KTV Rooms
Seating Capacity: 10 – 25 pax
Casuarina Room
Seating Capacity: 50 pax
Whether for
Business or Pleasure,
Ads
we have the
Perfect Venues
for you
Serangoon Gardens Country Club offers clients a quiet refuge complete with
a variety of function rooms that are perfectly suited for any corporate or
private event.
Conduct a workshop in our Casuarina Room, have a few drinks with your
clients or colleagues in our Beer Garden or KTV Rooms or opt to have your
company’s next dinner and dance in our Kensington Ballroom. From team
building workshops to power lunches, whether for business or pleasure, we
have the perfect venues for you.
To book your next event, call or email us today!
Tel: 6286 8888, 6398 5381, 6398 5365
Email: banquetsales@sgcc.com.sg
22 Kensington Park Rd Singapore 557271
www.sgcc.com.sg

36
Co m m E n tA r y
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t

of MNcs and sMes
The existing
distinctions
between sMe
and MNc
Why do people usually prefer to work for
multinational corporations (MNCs) rather
than small and medium enterprises (SMEs)
and what can SMEs do about this? On the corporate
whole, there are a lot of measures as to why people
compare MNCs with SMEs.
In an MNC, there exists many opportunities for regional
exposure, as most MNCs have regional offices around
the globe and opportunities for global movement is
a lot higher compared to SMEs. However, SMEs do
have their advantages as they are still growing and the
potential for internal promotion is a lot higher when the
company is expanding.
In SMEs, employees do face certain issues which
affect the stability of the company, such as salary
accuracy, salary package and the company’s workflow
and processes.
Salary packages in SMEs as compared to MNCs are
slightly lower, since MNCs can afford to pay relatively
higher and overall better packages. But SMEs in
the current market are increasingly upgrading and
following market trends as well. When told that their
salary budget is not within the market range, most
SMEs are very receptive and accepting of this. For
MNCs however, they have a salary banding on the
corporate ranking, therefore budget is usually not
mA r k E t in t E l l i gE n C E
extended unless the candidates have very good experience allowing
the employer to push the banding upwards.
When it comes to company processes and workflow, MNCs have a
very standard regime as compared to SMEs, since these processes
have been tested and proven right from past years’ experiences. SMEs
have the problem of establishing proper processes, as they are still in
the stage of testing and getting it right. Nevertheless, the workflow and
processes just need time to fine-tune and get right.
a small pond?
There are a few things that SMEs should be focusing on if they do not
want to lose good candidates to competitors. Firstly, they should look
into the salary packages to secure good and valuable employees and
these employees will be assets to the company. Employee benefits
and compensation are key to retaining employees. Even with a good
working environment, it will not be good enough if these seemingly
miniscule reasons are not met. Pay is the key and with a good
compensation package and benefits, employees will work hard for the
company.
Of course, without a good workflow and retention strategy, employees
can still leave the company even with good remuneration. A scenario
you would not want to see is that your company is spending the time
and money to train this employee for the next company that he/she
is joining. Worst of all, they might and would most probably join your
competitors, effectively meaning that you have trained up a competitor
to your own company.
So, all things considered, do you want to be a small fish in a big pond
or a big fish in a small pond?
Terrence Tham
Sales Director
One Solution Recruitment Pte. Ltd.
a big pond?
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
37

38
mA r k E t in t E l l i gE n C E
harMoNY
MaTTers:
eFFecTive
PeoPLe
PracTices
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
From a global economy that is increasingly threatened
by Europe’s debt crisis to inflation at home, Singapore’s
economy appears to be facing challenges on all fronts.
On the ground, businesses also face manpower shortages
and rising costs. As SMEs, how do you meet the manpower
challenge and ride the wave of change?
Building Your Competitive Advantage
We often hear the phrase “Employees are my most important
asset” and this is especially true in resource-scarce Singapore.
Given the low unemployment rates, increasing foreign worker
levy and higher cost of training new staff, it makes sense to
retain existing employees.
You can do so by taking steps to ensure harmonious
workplace relations. Employees who have a harmonious
working relationship with their colleagues and employers are
more productive because they can work better as a team. A
harmonious team is also more likely to be resilient; able to
weather business disruptions and recover faster, giving you a
competitive edge during a crisis.

Promoting Harmony and Resilience
While SMEs may have a smaller workforce, it also means they
are more nimble and adaptable in creating harmonious and
resilient workplaces. There are many approaches SMEs can
take to build trust, unity and respect at work. Here are some
possible ways:
• Develop core values like mutual
understanding and respect
The core values reflect what is important to the organisation
and can shape employees’ behaviour.
• Organise activities that promote respect
and inclusiveness
Examples of activities to promote understanding among
employees of various cultures, beliefs and customs
include festive celebrations or learning journeys to heritage
centres.
• Put in place communication channels to
address employees’ concerns
Having communication channels for employees to surface
issues and concerns can help address workplace issues
that may adversely affect workplace relations.
“…make employees feel a
sense of belonging and more
inclined to give their 100% at
work.”
BusAds Pte Ltd is one such SME that recognises the
importance of an inclusive and harmonious workplace. An
outdoor advertising production company, BusAds, has a team
of 50 employees. BusAds actively promotes the values of
understanding and respect through regular company dinners
and team-building sessions, as well as celebrations for various
religious and cultural festivals throughout the year.
mA r k E t in t E l l i gE n C E
“It is possible for SMEs to have an inclusive and resilient
workforce,” said Mr Alvin Yap, Corporate Affairs Director
of BusAds. “In fact, the easiest yet most effective way is to
communicate; have open conversations where both parties get
to speak and listen to the other. Experiences like this make
employees feel a sense of belonging and more inclined to give
their 100 per cent at work.”
Celebrate Racial Harmony in July
One immediate opportunity is to celebrate Racial Harmony at
your workplace in the month of July. Racial Harmony Day falls
on 21 July, but you can choose to celebrate on any day in July.
Here are some ideas you can consider:
Coordinate a potluck party comprising of the traditional food
from the different races. This provides a platform for employees
to learn more about the diverse food cuisines and cultures in
Singapore. Remember to consider your colleagues’ dietary
restrictions when organising!
Organise a mini quiz on the different cultures and
practices of the different races. Adding a prize will
certainly increase the excitement!
Organise learning journeys to heritage centres or
take part in guided ethnic trails. This can also serve as
a team bonding session.
New Training Course to Help Companies
Build a Harmonious and Resilient
Workplace
A new CEP course is now available to help companies
implement initiatives at the workplace that build harmony
and resilience. Jointly developed by tripartite partners and
administered by Singapore Business Federation, this one day
course is available on a quarterly basis and is suitable for SME
business owners and human resource practitioners.
Learn how to ensure business continuity and build a resilient
workforce to withstand crises, by attending this course. Email
the MOM CEP Secretariat at mom_cep@mom.gov.sg to sign
up today!
You can find more suggestions on our website: www.mom.
gov.sg/racialharmony. Have fun bonding with your colleagues!
Article contributed by the Ministry of Manpower,
Secretariat to the Community Engagement Programme (CEP)
– Businesses & Unions Cluster.
For more information on the Community Engagement
Programme, please visit www.singaporeunited.sg.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
39

As Myanmar slowly
transitions to the
infantile stages of a
democracy after more than
four decades of military
rule, its immediate Asian
neighbours - and beyond -
are readying themselves to
enter what is possibly the final
frontier in Asia for business
and investment. With the
rapid metamorphosis of the
Burmese political system,
the ASEAN nation has been
propelled into the international
limelight against a backdrop
of lifted sanctions and myriad
growth opportunities. As
the last of Southeast Asia’s
emergent markets, Myanmar
holds tremendous promise
that is still contained within a
delicate shell.
mA r k E t in t E l l i gE n C E
Myanmar
asia’s Final
Frontier
A snapshot of the nation’s opportunities,
risks and challenges for business
Geography and Demographics
Myanmar is situated in Southeast Asia and is bordered by as many as five other countries: China,
Laos, Thailand, India and Bangladesh. Covering an area of 677,000 square kilometers, the central
lowlands of Myanmar are rimmed by steep, rugged highlands and small mountain ranges. Contained
within these natural barriers are the flat lands which hold the bulk of the country’s agricultural
acreage as well as its diverse ethnic population of an estimated 60 million, which is growing at an
estimated rate of 2 per cent for the next decade.
Due to its sharing of borders with five other nations, Myanmar is strategically located both overland
– the nation possesses the largest landmass in Southeast Asia – and otherwise, being situated near
the major Indian Ocean shipping lanes with a two-thousand kilometer coastline filled with deep
sea ports.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
41

42
mA r k E t in t E l l i gE n C E
Market Potential
Much like Vietnam, Laos and Cambodia, Myanmar is filled with
opportunity and promise in its lush forestry and rich port areas.
At this point in time, even if several market sectors have already
been developed – to a reasonable degree at least – the fact
still remains that plenty of key areas within the country require
added focus and concern.
“Myanmar looks very tempting at first glance but we have to
remember that there are wealthy Burmese who can compete
with foreign investors, unlike Vietnam in the early days where
both the State owned companies and family companies were
not rich,” said Mr Rick Mayo-Smith, president of investment
management firm Indochina Fund Management Pte Ltd.
Indeed, the business environment is still challenging to say
the least, and is expected to remain so for the near future. By
way of background, Myanmar is ranked close to last on the list
of Transparency International’s Corruption Perceptions Index
(180th of 182) and is not even mentioned in the World Bank’s
Doing Business report.
In the same vein as other resource-rich emerging markets like
Mongolia, Myanmar is projected to veer towards the area of
commodity extraction and the infrastructure required in getting
all produce to market. Therefore, investors will be focused
on the infrastructure, mining and oil & gas industries for the
foreseeable future.
“Myanmar is a frontier market, it is not like Vietnam in the 1990s
or Cambodia in early 2000s; there are similarities but not the
same,” according to Mr Thura Soe-Paing, Managing Director of
investment and advisory firm All Myanmar Investment Partners
(AMIP), “So people considering doing business in Myanmar
should do their homework and not just merely cut-and-paste
of what has happened before.”
Market Sectors
Infrastructure is one of the biggest gaps in the market containing
the most potential for development. In Myanmar currently,
only 12% of all roads are paved and 50% of all goods are
still transported via river barges, allowing immense business
potential in road infrastructure, with projects linking Myanmar
to the border nations being most financially sustainable.
Nevertheless, perhaps the biggest problem plaguing business
in Myanmar is the lack of a reliable power supply, with only 20%
of the total population connected to the national power grid.
Currently, the power industry is the dominant market segment
in the Burmese business landscape, commanding 40% of
total market share. All things considered, the power industry
itself can be a viable market, with off-grid generation sources
like thermal power plants being the most feasible, along with
renewable power plants even if hydropower facilities have fallen
out of favour.
Although Myanmar has broadband internet capability, the
service is not freely available to the masses, with only around
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
100,000 of the 60 million-population connected to the internet.
More mobile phone towers are needed in addition to the
phasing out of dated SIM cards that cost US$400 apiece and
can only be used within Burmese boundaries.
Agriculture is the mainstay of the Burmese economy, existing
throughout the history of the nation and with more than half of
the population practice farming to varying degrees. However,
land reforms and upgraded machinery are sorely needed
to bring this market sector to the next level. Similarly for the
construction industry, existing infrastructure must be upgraded,
or even rebuilt if necessary.
Manufacturing is another area worthy of consideration. With
wages less than a third of those in Thailand and even China,
textiles and other lower-end manufacturing businesses can
stand to benefit. For the textile industry, wages can be as low
as US$20 a month and the relaxation of US sanctions will give
the industry an added boost, since 75% of all Burmese textile
exports are bound for the USA.
On tourism, Myanmar can be considered an idyllic location,
even if it pales in comparison to its other ASEAN neighbours.
Visitor arrivals have been on the rise since 2008, and 500,000
tourists are expected to visit Myanmar in 2012. Its numerous
pagodas, temples, mountainous regions as well as beach
resorts certainly create a scenic tourist destination, only
hampered by a lack of capacity and potential supply issues in
both the high and low-end hotels.
Myanmar has the 4th largest copper mine in Asia, delivers
60% of the world’s teak, and is also responsible for 90% of

the world’s jade and ruby output. The copper mine in particular
(Monywa) is projected to produce 200 thousand tonnes of
copper a year, paving the way for it to become a major player
in copper production. However, this can only be achieved if
the mine is fully developed, with the full ensemble of required
infrastructure in place.
Lastly, Myanmar is still severely under-banked, with only 2%
of the entire Burmese population owning deposit accounts. A
shortage of practical know-how will slow progress since the
banking sector will remain largely off-limits to foreign investment,
although there are plans to allow joint ventures by 2014. With
the concurrent currency reform, liberalising of the interest rate
and assistance from the International Monetary Fund to develop
the interbank market, this sector will not stay stagnant for long.
Down the Road
“I believe the three key areas that most businesses have to
address are transportation, power and communication,” Mr
Soe-Paing highlighted, “The roads and railways are not only
quite expensive but unreliable. We often have power shortages
and cuts even in the industrial zones, so generators are a must.
Finally mobile and Internet connections are poor and expensive.
They are not the long term challenges and will certainly improve
but nevertheless could make some of the opportunities
unattractive.”
Although Myanmar will not be tremendously lucrative for some
time, the economic situation will only improve as the country
slowly proceeds towards a consolidated democracy, paving
the way for a complete relaxation of sanctions and eventually
to realisation of the market’s fullest potential.
At a Glance
mA r k E t in t E l l i gE n C E
Capital: Naypyidaw
Geographic location: 22 00 N, 98 00 E
Area: 676,578 square kilometers
Climate: Tropical monsoon
Terrain: Central lowlands encircled by
rugged highlands
Government: Nominal civilian parliamentary
Population: 50 – 60 million
(pending census)
Ethnicity: 8 major ethnic races, 135
distinct ethnic groups
Language: Burmese, English
Literacy: 89.9% of population can read
and write
Religious affiliation: Buddhism, Christianity, Islam,
Hinduism
Natural Resources
• Petroleum
• Timber
• Metals (tin, antimony, zinc, copper, tungsten)
• Lead
• Coal
• Marble
• Limestone
• Precious stones
• Natural gas
• Hydropower
Economic Environment
• GDP (per capita): US$1,400 (2010 est.)
• Labour force: 31.68 million
• Labour force (by occupation):
• Agriculture: 70%
• Services: 23%
• Industry: 7%
• Unemployment rate: 5.7%
• Investment: 15.1% of GDP
All information adapted from Myanmar Awakens: Unearthing Asia’s Hidden Gem
published by Business Monitor International and conference material from the oneday
Myanmar Summit organised by Blue Track Centre on 31 May 2012.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
43

Advanced 3D Virtual Design Software Luxury Louvre Doors Prefabricated Luxury Villas
A passion to
constantly innovate.
That’s what separates Pacific Forest from the rest.
In an ever-changing business landscape, Mr Jason Chang has got the right idea. By infusing innovative
thinking into Pacific Forest’s operations, Mr Chang has streamlined their design and manufacturing
processes. That is the reason why they are able to produce quality customised joinery, and have the
ability to build luxury resorts and homes.
One of the many assets of Pacific Forest is their use of sophisticated virtual design software to develop
their projects – enabling architects to bring their design ideas to life in the most practical and costeffective
way. In addition, the recent innovation of using state-of-the-art robotics ensures time-efficient
processes and minimum wastage of materials through product line accuracy.
Their Eclipse brand of Louvered Doors and Windows pays testament to Pacific Forest’s mission
of combining technology and art, to create quality wood furniture. Customers are spoilt for
choice with a dazzling array of customisable designs. Understanding the need to be socially
responsible, Pacific Forest’s latest goal is to turn recyclable wastes into usable, durable
wood through their forthcoming product line - ONEWOOD.
Today, their portfolio of successful projects speaks for itself. With prestigious projects such
as the Four Seasons Bora Bora, Cape Paradise in Phuket and Kudarah Maldives under their belt,
they are committed to delivering the best in quality. The determined pursuit of innovation
and technology serves to propel Pacific Forest towards a bright and prosperous future.
Pacific Forest Products Pte Ltd
1 Sungei Kadut Crescent Singapore 728684, Phone (65) 6368 6675, Facsimile (65) 6368 7039, www.pacificforest.com.sg, Email: sales@pacificforest.com.sg

Mr Alagappan Annamalai is
an avid home brewer and
his beers have impressed
many who have requested him
to brew beers for their events
or functions. He thinks that the
concept of making customised
beers is a refreshing and sellable
idea nowadays as everyone wants
to have an exclusive feature to mark
the occasion.
When Mr Annamalai wanted to turn his hobby of
making homemade beers into a business, he was
particularly stumped by the hefty annual fee for
an excise factory licence. For the uninitiated, an
excise factory is a designated area where dutiable
goods such as liquor, tobacco, and motor vehicles
are produced.
To ferment or manufacture ale, beer, stout or porter,
Mr Annamalai would have to fork out $43,200 per
year (for an annual production volume of 1.8 million
litres or more) or $8,400 (for an annual production
volume of less than 1.8 million litres) for the excise
factory licence. Mr Annamalai felt that the cost was
too expensive for him to start home-brewing as
a business.
Caught in a tight spot, Mr Annamalai turned to the
Pro-Enterprise Panel (PEP). He suggested that the
government review and reduce the excise factory
licence fee to help small businesses like his which
produce much smaller quantities.
mA r k E t in t E l l i gE n C E
OPENING DOORS FOR
A “HOME” BREWING
BUSINESS
Reduced excise factory
licence fee helps get
small-scale “home” brewing
business off the ground
The PEP Secretariat raised this issue to the Singapore Customs and
Ministry of Finance. Upon deliberation, the agencies agreed to reduce
the manufacturing licence fee for his proposed venture after taking into
consideration the proposed scale of operations. They will be introducing
a reduced fee of $500 per annum with an annual production quantity not
exceeding 3,600 litres, to cater to his small scale beer production.
The next challenge for Mr Annamalai is to get approval from the Agri-Food
& Veterinary Authority of Singapore (AVA) to ensure that the beer to be
brewed for retail meets an acceptable standard of hygiene and to use a
suitable industry/commercial space for such small scale brewing.
At least with this fee reduction, Mr Annamalai is now one step closer to
getting his business off the ground!
Have a good suggestion to cut business red tape? Write in to the PEP at mti_pepsec@mti.gov.sg. The top 3 suggestions of the year
will win a PEP Award and a cash prize of $1,000.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
45

PayDollar eCommerce
Flexible Value-added Services for
the Competitive E-tailer
PayDollar eCommerce is a multi-currency, multi-lingual and multi-channel electronic payment processing
service in Asia. Businesses of any size can securely accept credit and debit card payments anytime, anywhere.
Experience value-added tools such as fraud monitoring, recurring payment, direct payment link, eMOTO, sales
analytics, and consolidated real-time transaction reports.
Merchants can now run
their own promotional
campaigns by setting
discounts to specific credit
cards to encourage
customers to shop more
online.
Accept payments online using mobile
devices regardless of mobile platform.
Enjoy a suite of mobile payment APIready
applications and services.
PayDollar Debit
Card Promotion Payment Member Payment
Mobile Payment
CALL NOW
66312725
Take advantage of the most comprehensive debit options
throughout the Asia Pacific region and tap non-credit consumers
(with existing bank/debit accounts) in Asia, Australia and New
Zealand.
A membership and loyalty
service which provides a
seamless payment process for
frequent customers. Customers
will only need to remember and
enter 3 fields – log-in ID,
password and CVV code.
The premier online payment
service brand by AsiaPay
www.paydollar.com.sg
sales@asiapay.com.sg
Singapore l China l Hong Kong l India l Indonesia l Macau l Malaysia l Philippines l Taiwan l Thailand l United Kingdom l Vietnam

An Upgraded
Grant to
Upgrade your
Business
Small and medium enterprises (SMEs) looking to improve
their capabilities in key business processes can utilise an
upgraded grant scheme offered by SPRING Singapore.
Since 1 June 2012, the Innovation Voucher Scheme (IVS)
launched in 2009 was revamped and renamed the Innovation
and Capability Voucher (ICV), with its scope expanded to
cover the capability areas of productivity, human resources
development and financial management in addition to its
namesake of innovation. As background, the IVS encouraged
SMEs to utilize technology to drive innovation, and close to 700
SMEs have received technological service assistance provided
by 22 knowledge institutions which include polytechnics and
research institutes.
In the ICV, the widened range of business processes will allow
SMEs to focus on managing their costs better, raising workplace
productivity and efficiency as well as strengthening operations
to reach sustainable growth.
On the newly improved scheme, Minister of State for Trade
and Industry Mr Teo Ser Luck said, “While many of our SMEs
understand the benefits of upgrading, they sometimes find the
process of applying for assistance quite challenging. Like the
IVS, the ICV scheme is simple to apply for and easy to use.
We hope SMEs will take this first step towards building their
capabilities in the core business areas of productivity, human
resources development, and financial management. This will
help them lay the foundation for sustainable growth in the long
term.”
Each SME can be awarded two ICVs per capability area
(innovation, productivity, human resource development, financial
management). The vouchers are valued at $5,000 each, and can
be redeemed at more than 120 service providers for processes
such as diagnostics, feasibility studies, process upgrading,
mA r k E t in t E l l i gE n C E
A newly-revised
government
assistance scheme
will give business
the push they need
to improve current
processes
customised training, product or services development, and
adoption of quality and standards.
To fund this scheme, SPRING Singapore has allocated $32
million to aid up to 1,600 SMEs a year.
All local SMEs are eligible for the ICV if they meet the following
requirements:
• Registered with a physical presence in Singapore
• Possess at least 30% local shareholding
• Have group annual sales of not more than $100 million OR
group employment size not exceeding 200 workers
To find out more about the ICV, visit SPRING Singapore’s
website www.spring.gov.sg/icv. Alternatively, you can meet
up with a Business Advisor from EDC@ASME to know more
about the voucher.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
47

We now bring our stores to YOU!
POPULAR, the largest stationer has newly formed Office Solutions,
to service our business community in Singapore. You will discover
a world of choices with us and hence make purchasing of
office essentials a breeze.
We have a wide range
of products for all your
business needs:
Computer Supplies
Printer Supplies
Stationery
Copier Paper
Pantry
Office Furniture
Corporate Gifts
Special Promotion for limited period only!
Call us now at 6514 8484! Email: os@popularworld.com

50
mA r k E t in t E l l i gE n C E
Understanding SMEs’
take on the Iskandar
Development Region
The Association of Small and Medium Enterprises
(ASME) commissioned a research in May
2012 to better gauge the awareness of the
Iskandar Development Region, what it has to offer
Singapore small and medium enterprises (SMEs) and
to also determine the various factors affecting the
decision of SMEs to expand and relocate to this
neighbouring region.
Preamble
Singapore and Malaysia are looking at the twinning
of economic activities in Iskandar, Johor that could
be mutually beneficial to both nations. Iskandar, also
known as the Iskandar Development Region (IDR), is
a developing Special Economic Zone. Singapore has
shown support and approval to the IDR; in return,
Malaysia has greenlit Singapore’s access into Iskandar.
Singapore’s business climate is facing rising costs,
as well as space and manpower constraints. With
this bilateral relation and as a natural complement to
Singapore’s high-value but also high-cost manufacturing
sector, Iskandar offers Singapore firms cheaper labour,
land and other resources required for their businesses
in the regional or global markets. In addition, Singapore
is able to tap into Iskandar’s industrial facilities and
infrastructure to enable business and project expansions
unable to be accommodated in Singapore.
Brief Background on Iskandar
Iskandar is the new southern development corridor in
Johor that has been identified as one of the catalyst
developments to spur the growth of the Malaysian
economy. The project is administered by the Iskandar
Regional Development Authority (IRDA), and there are
five flagship zones in the IDR with the key promoted
sectors being: creative, education, financial advisory
and consulting, healthcare, logistics and tourism.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
Research Results
Awareness
A majority of SMEs are aware of the ongoing Iskandar Development Project
whilst 28.4% of the respondents indicated that they do not know of the
Iskandar Project.
Do you know
of the Iskandar
Project?
No
28.4%
Yes
71.6%
Incentives and conditions
A majority of SMEs are still not aware of the incentives and conditions that are
made available by both the Malaysia and Singapore government.
Only 22.6% of respondents who are aware of the Iskandar Development Project
have preliminary knowledge of the incentives and conditions that are given for
businesses to expand/relocate to this special economic zone. However, they
are not aware of further details of the incentives and conditions, and knowledge
of the Iskandar Project is minimal.
To better understand the factors that will affect SMEs’ decision to expand or
relocate to Iskandar, ASME highlighted a few of the incentives for rating.
Exemption from the Foreign Investment Committee
5
4
3
2
1
5.30%
5.30%
13.20%
Not Important
21.10%
Unrestricted employment of foreign knowledge workers
5
4
3
2
1
2.60%
12.80%
15.40%
5.10% Not Important
55.30% Highly Important
64.10% Highly Important

Eligibility for tax incentives
5
4
3
2
1
2.60%
13.20%
13.20%
5.30% Not Important
Flexibilities under the foreign exchange administration rules
5
4
3
2
1
2.60%
5.10%
17.90%
15.40%
How likely are you to move to Iskandar?
Rating
5
4
3
2
1
5.40%
Not Important
The highest average rating was the eligibility for tax incentives
which hit a 4.32 rating out of 5, out of which, 65.8% of the
respondents indicated that this condition was highly important,
rating it 5 out of 5.
The second most important condition amongst SMEs is unrestricted
employment of foreign knowledge workers, which had an average
rating of 4.31 out of which, 64.1% of the respondents had specified
that this condition was highly important, rating it 5 out of 5.
55.3% of the respondents indicated that exemption from Foreign
Investment Committee rules are highly important, ranking it 5 out
of 5. The average importance rating for this is 4.16, out of 5. 59%
of the respondents indicating that flexibilities under the foreign
exchange administration rules was highly important, rating it 5 out
of 5. The average rating for this is 4.26.
How likely are SMEs to move to Iskandar?
Majority of the respondents, which totaled 40.5%, had a fairly
neutral “likely” stand when taking into consideration all the pros
and cons of moving to Iskandar, rating their likelihood 3 out of 5.
16.2% of the respondents indicated that they were highly likely
to move to Iskandar, rating 5 out of 5, whilst 24.3% rated 4 out
of 5 in terms of their likeliness to move to Iskandar. The average
likelihood of SMEs moving to Iskandar was 3.32 out of 5.
Least Likely
16.20%
13.50%
Highly Likely
24.30%
65.80% Highly Important
59.00% Highly Important
40.50%
Observations:
SMEs are
unaware and
lack knowledge
on the Iskandar
Project
mA r k E t in t E l l i gE n C E
What are SMEs top concerns for expanding/
relocating their businesses to Iskandar?
In summary:
• Security and safety of all personnel and staff –
crime rate, gangsterism
• Ease of doing business – administration
protocols, labour laws, friendly tax mechanics
for SMEs
• Infrastructure stability and adequacy
• Accessibility to Iskandar from Singapore, and
within Iskandar
• Governmental transparency and biased practices
• Unforeseeable political changes
• Rising costs due to the close proximity to
Singapore (overheads, raw material cost)
• Access to quality workers (high staff turnover
due to close proximity to Singapore)
SMEs have
concerns about
the region
SMEs lack
confidence
Many SMEs are still unaware and/or do not possess sufficient
information of the Iskandar Project. The reason for a majority of
them standing neutral on their likelihood to move to Iskandar is
perhaps due to their lack of knowledge about the Iskandar Project
as a whole (procedures, incentives, tax structure, etc.). Only 5.4%
of the respondents had indicated that they are least likely to move.
Perhaps many are still waiting for further developments within the
Iskandar Development Region before making any decision.
From the responses, it is certain that more accurate and
comprehensive information need to be communicated and
disseminated to the SMEs if they are to be encouraged for
expansion and/or relocation to Iskandar.
In addition, we gather that SMEs are still cautiously exploring this
region. They have raised several noteworthy concerns. If some
of their main concerns can be dispelled and resolved, this would
boost SMEs confidence and give them the added assurance of
the Iskandar Development Project. In turn, SMEs would likely play
a more active role in their expansion and relocation plans to the
Iskandar Region.
An important point to note is that in the minds of the Singapore
SMEs the Iskandar Development Region is not the natural fallback
when relocating out of Singapore. They are in reality facing
competition from other regional choices e.g., Indonesia, Vietnam,
China, India, and of course Myanmar.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
51

ensuring a healthy
mA r k E t in t E l l i gE n C E
Workforce
Safeguarding employee wellness with a workplace grant
Maintaining a healthy lifestyle has always been of paramount
importance, since health translates directly into better resistance
to diseases, improved overall wellness, and also increased
productivity at work. This is especially pertinent in today’s fast-paced and
hectic environment, where a healthy lifestyle is usually second fiddle to
advancing one’s career or to take care of the family.
Bearing in mind that employee health is actually directly related to workplace
productivity; Mr. KC Sim, Managing Director of ABITEX Sofas took the
advantage of the Workplace Health Promotion Grant (WHP Grant) from the
Health Promotion Board (HPB) and conducted a basic health screening
programme directly in the office. With assistance from the Business Advisors
at EDC@ASME, this was achieved with minimal trouble.
Spanning over three hours in the morning of 15 May 2012, trained health
screening providers from the National Kidney Foundation (NKF) set up
a shop within ABITEX Sofas’ corporate office, establishing five distinct
stations within the premises. Each in charge of assessing one facet of the
health screening process, the medical staff professionally laid out brochures,
leaflets and assorted medical equipment to conduct the actual screening.
The 10-minute process entailed a medical diagnostic and declaration form,
a urine analysis, body mass index calculation, a blood pressure test and also
a blood test station. The ABITEX staff made their way to each station in an
orderly manner, and answered all questions to the best of their abilities. The
medical providers deftly handled all queries with the finesse and decorum
required of a medical institution, yet retained an inkling of rapport with their
one-day patients. Many of them exchanged an anecdote or two with the
ABITEX staff, and the atmosphere was more hospitable than sterile.
Undoubtedly, the more intricate and complex medical procedures like a
cholesterol and blood sugar analysis cannot be completed with the limited
span of time, but the health screening providers will perform a backend
analysis and furnish a medical report to all staff who went for the health
screening. In the report, advice on how to reduce the risk factors identified
will be shared, along with referrals for follow up action (if necessary). Of
course, the reports will remain confidential and will not be shared with
anyone else within the organisation.
Besides the basic health screening, a series of health related workshops
and talks, and exercise classes are also in the pipeline and will be rolled out
within the next 12 months. Abitex Sofas’ Workplace Health Programmes
aim to improve the staff awareness and wellness.
With some assistance and a workplace grant, your employees can reduce
downtime due to illness and perhaps even improve their productivity.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
53

WE ARE
FORESIGHT
Goldbell Corporation is the market leader in commercial vehicle
leasing industry in Singapore. Its two commercial vehicles (CV)
leasing subsidiaries have a combined fleet size of about 4000 units.
We entered the CV leasing arena in 1990 and also handles operating
lease of material handling equipment, specialised and customised
vehicles such as refrigerated trucks and vans, waste management
trucks, ambulances, electric buggies, mobile boutiques, mobile
kitchen among others.
Our Group also has a car rental division which specialise in long and
short-term leases of passenger vehicles, light commercial vans and
provides limousine and transport services in additional to their fleet
management expertise.
Leasing the vehicles offers the hirer quick access and flexibility to a
vehicle/equipment for a certain time period in return for fixed regular
payments. There are many companies which see leasing to be more
beneficial as leasing frees up their cash flow for other critical activities.
In addition, the hassles of servicing and maintenance are left to the
lessor, which is a good hedge against rising operating and maintenance
costs.
Most of all, with the current COE situation, there is reduced upfront
cash required to utilise a vehicle with lower capital outlay. Leasing also
protects against depreciation and obsolescence by providing the
opportunity to use a new vehicle as and when it is required and
available.
A typical lease runs for three years but they can also be as long as five
years and as short as daily, weekly or monthly basis.
10,000 Leasing Clients Served.
And Counting.
www.goldbellcorp.com

56
gA s t r o n o m iA
The Cathay has long been associated with a quality
cinematic experience, indulging the senses with crystal
clear moving images combined with the encompassing
reverberations of an impressive surround sound system.
Moviegoers flock to the building in droves to catch that latest
flick, but within that refurbished façade is a gastronomical gem
that is worth visiting some time before that blockbuster.
The Cathay Restaurant was opened in 2007 and has been
serving Chinese cuisine as compared to the European fare it
used to deliver when it was first opened in 1940. An intriguing
combination of past and present, the restaurant is set
in a characteristically Chinese décor that is modern and posh,
yet infuses nostalgic elements in the form of wall-mounted
portraits featuring Cathay film stars of days past as well as
still images of iconic films. With five private dining rooms
available, meetings and business luncheons can be held
with a touch of sentimental class alongside a wide array of
delectable cuisine.
One of the principal staples on the menu, the restaurant’s dim
sum selection is substantial and varied, featuring traditional
favourites like “siew mai”, “har gao” (steamed prawn
dumpling) and steamed pork buns as well as the more exotic
and interesting varieties such as the Steamed Yolk Cream
Bun ($4.20 per basket of 3). The latter is truly exquisite, with
the fluffy bun skin barely concealing a reservoir of rich yolk
cream which can be quite a surprise for the unprepared diner.
Nevertheless, the repertoire on a whole will not disappoint the
patron looking for that dim sum fix.
Apart from the already extensive dim sum assortment, The
Cathay Restaurant also features a robust ala carte menu with
plenty of delightful items, at the according price of course. The
Cathay Crispy Roasted Chicken ($24 for half, $42 for whole)
is just like those served during Chinese wedding dinners or
major celebrations, and then some. The poultry’s crisp skin
gives way to the tender flesh of well-prepared chicken, going
down well with the other dishes such as the refreshing Doubleboiled
Chicken Soup with Snow Pear and “Chuan Bei” ($48
per order for 4 persons).
The crowd can be quite heavy - especially during the weekends
- so a reservation or heading down a little earlier might net the
choicest seats in the restaurant. The Cathay is not wholly about
movie stars and Hollywood, it also has a splendid restaurant
serving good food set in a fascinating setting. Above all, the
restaurant embodies the cross between past and present,
allowing you a wistful trip down memory lane.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
Dine Back
In Time
A blend of both the past and the present
Cathay Crispy Roasted Chicken
The Cathay Restaurant
Address: 2 Handy Road #02-01,
The Cathay, Singapore 229233
Opening Hours:
Weekdays & Saturdays
Lunch: 11.30AM to 3.00PM
Dinner: 6.00PM to 11.00PM
Sundays & Public Holidays
Lunch: 10.00AM to 5.00PM
Dinner: 6.00PM to 11.00PM
Reservations: 6732-7888
Steamed Yolk Cream Bun

58
gA s t r o n o m iA
More than just a Fat Cow
Excellent food, impeccable service,
xquisite ambience.
F
at Cow, despite its seemingly heavy and robust nomenclature, is
located in the most unlikely of places: Camden Medical Centre. In an
institution pushing for the pinnacles of medical excellence, Fat Cow
stands out as you enter the Centre, its complicated yet tasteful shop front
a break from the monotony of whitewashed walls.
Upon entry into the restaurant, the interior décor will fixate your attention:
overhanging latticework whitewashed to exude a raw finish, enveloped
by a distinctly black colour theme infused through the 3500 square feet
compound. A well-stocked bar greets the customer like an oasis in the
desert, while polite service staff usher the guest into an unlikely but very
refreshing dining area.
Set in the style of a typical teppanyaki restaurant, the 18-seater dining
area of Fat Cow features a fully open-concept kitchen, with patrons able to
witness their dishes being prepared from start to finish. The friendly cooks
will recommend the catch of the day, which grade of beef best suits your
taste and also the method of preparation for the item of your choice. True
to its name, Fat Cow offers four different types of beef from around the
world, selecting only the freshest and choicest cuts to bring to the table,
ensuring a scrumptious experience for both the hardcore beef lover and
also the casual diner.
To kick things off, the Tai Carpaccio with Black Truffles ($38) is an intriguing
appetizer that serves to whet your gullet for the heavier cuisine in store.
Thinly sliced flakes of the fish are sprinkled with an inkling of caviar and
then garnished with black truffle, creating a smooth combination that is
both fresh but not overpowering.
The Wagyu Ox Tendon & Foie Gras ($26) is a prime example of Fat Cow’s mastery over beef-centric
cuisine. Stewed for at least 48 hours, the jelly-like tendon sits lavishing in a pool of thick gravy,
accompanied by lightly grilled foie gras that serves to bring out the tendon’s already robust flavor even
more. The taste is nothing short of amazing, with the seemingly tough tendon disintegrating into almost
nothingness as it works its way down into the stomach.
Appetisers and starters aside, the main course is what defines the Fat Cow experience. The donburi
dishes are coupled with prime ingredients that serve to add substantial weight to the traditional Japanese
rice bowl, creating similar yet unique dishes that enlivens the patron’s gastronomical experience. The
Wagyu Donburi ($60) boasts a generous amount of prime beef, adorned with a beautifully prepared
soft-boiled egg that hangs on the precipice of bursting. The Foie Gras & Wagyu Donburi ($56) combines
the best of both worlds, serving perfectly grilled foie gras alongside tender sliced wagyu, drizzled with a
delectable sauce that brings out the best flavours from two strikingly different ingredients.
The ambience, coupled with the excellent food and service, is definitely a draw for
the relatively young restaurant. The pricing might be a little steep for seemingly simple
cuisine, but you can be assured of the superior quality that accompanies the hefty
price tag.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
Wagyu Ox Tendon & Foie Gras
Wagyu Donburi Set
Fat Cow
Address: 1 Orchard Boulevard
#01-01 Camden Medical Center
Singapore 248649
Tel: (65) 6735 0308
Website: www.Fat-Cow.com.sg

Sauteed Risotto Soja with Poached
Oysters in Natural Jus
Disappear temporarily from the hustle and bustle of city life, whilst basking in the
serenity of the sights of flora and fauna, surrounding yourself with the sounds of
nature at The Halia Restaurant. Nestled in the heart of the Ginger Garden within
the Singapore Botanic Gardens, The Halia offers modern European cuisine with subtle
traces of Asian spices, and makes a great getaway for romantic dinners, weekendget-togethers
and business lunches.
As part of celebrating 10 years of success and excellence at the Botanic Gardens, The
Halia had refreshed itself with a new look, menu and a creative culinary team in 2011.
Diners may choose to dine indoors or at the alfresco. But, for inquisitive diners who
want to take a peek at the culinary team’s baking work in progress, the restaurant’s
recent facelift introduces a new open-concept kitchen, furnished with counter seats,
with the aim of evoking a more unique and interactive dining experience.
Taking the helm at The Halia’s new kitchen is 30 year-old Chef de Cuisine Reynaldo
Arriola. Born in Singapore to a Filipino Spanish father and a Chinese mother, Chef
Reynaldo has close to a decade of training and professional culinary experience in
Singapore as well as France, where he spent five years in the kitchens of distinguished
gA s t r o n o m iA
A Touch of
Spice
Pan-seared Challans duck breast
restaurants such as Two Michelin-Starred Chateau Cordeillan Bages, Relais de
Margaux, Chateau de Lignan and Evian Royal Hotel.
For those who are looking for a new-fangled gastronomic experience, you can
definitely anticipate exciting and creative dishes on the menu. Not to be missed is
their Sauteed risotto soja, mascarpone and parmesan, poached oysters in natural jus,
A gem in the heart
of the Gardens
The Halia
Address: 1 Cluny Road, Ginger Garden
(enter via Tyersall Avenue) Singapore
Botanic Gardens Singapore 259569
Tel: (65) 8444 1148
Website: www.halia.com.sg
seasonal truffle, seaweed, mushroom emulsion and
white wine reduction, which sets itself apart from the
conventional risotto. A creative fusion introduced
by Chef Reynaldo, this risotto was inspired by his
mother’s traditional cooking and has an interesting
story behind its invention.
Best eaten medium rare, the juicy and succulent Panseared
Challans duck breast, lyonnaise potato, apple
and cinnamon compote, duck jus was deliciously
cooked to perfection. You might want to also enjoy
this dish with The Halia’s thoughtfully paired and
recommended wine, 2010 St Clair Sauvignon Blanc,
Marlborough New Zealand.
Be sure to also try the Halia’s Rojak for dessert.
A refreshing and healthy take on our local favourite,
Halia’s Rojak includes fresh fruits and berries,
chilli chocolate sauce, chopped peanuts, white
sesame seed, nori crisp, and homemade ginger
flower sherbet.
On weekends and public holidays, The Halia serves
Brunch, which includes an assortment of dishes that
are categorized according to your mood and liking
such as “Light”, “Hearty” and “Sweets”, as well as
its Teatime featuring its special “Premium English
Tea Service” at S$28++ per person. Tailored specially
for private events and functions, The Halia also
boasts of Villa Halia, which is located just opposite
the restaurant.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
59

PEOPLE STRATEGIES
FOR ASIA
Prof Dave Ulrich
Best-selling author
and world-renowned
thought leader
Gill Rider
CIPD (UK), President
Harish Manwani
Unilever, Chief
Ho Kwon Ping
Banyan Tree,
Executive Chairman
and Founder
Organisers:
Lieutenant General
David Huntoon
Superintendent,
United States Military
Academy (West Point)
Jonathan Spector
The Conference
Board, Chief Executive
Tracey Fellows
Microsoft, President of
Dr Robert Yap
YCH Group,
Chairman & CEO
Chng Yi Ta
?What If!, Chief
Vicky Bindra
Mastercard, President
East and Africa
19-20
SEPTEMBER
Gilbert Ghostine
Diageo, President of
Bank Mandiri,
President Director
Gerardo Ablaza
Manila Water,
President & Chief
2012
RESORTS WORLD SENTOSA
Aliza Knox
Managing Director,
Commerce
www.singaporehcsummit.com

62
Cl A s s i f i E D s
Terrapinn Pte Ltd
B2B Media
T: 6222 8550 F: 6226 3264
www.terrapinn.com
Terrapinn is a business media company.
Our products are trade exhibitions,
conference, training solutions and
electronic publications. Terrapinn owns a
portfolio of B2B brands.
Bizlink Exhibition Services Pte
Ltd (A Subsidiary of SPH)
MICE
T: 6848 5933 F: 6848 4182
www.SGPFair.com | www.SOLFair.com |
www.FranchiseLicenseAsia.com
BizLink Exhibition Services Pte Ltd is
Singapore’s leading exhibition organizer in
the fields of Gifts & Premiums, Stationery
& Office Supplies and also in the sectors
of Franchising & Licensing.
Success Resources Pte Ltd
Education/Training
T: 62994677 F: 62952441
www.srpl.net
An educational organization that
promotes business and personal
development programs by bringing in
world-class speakers and coaches from
all over the globe. Stay relevant and
get financially educated now to achieve
greater success.
Regus Management
Singapore Pte. Ltd.
Workspace Solution Provider
T: 1800 622 1563
www.regus.com.sg
Regus provides modern, flexible
workspace that frees businesses of all
sizes, all over the world, to work more
effectively.
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
Fujitsu Asia Pte Ltd
IT/Telecommunicationsations
T: 65127446/65127555 F: 65127499
http://sg.fujitsu.com/scanner
Is your team spending too much time
searching for lost or misfiled documents?
Fujitsu can offer you the right solution to
help process and manage your documents
throughout your organization.
Yusarn Audrey
Legal
T: 6358 2865 F: 6358 2864
www.yusarn.com
Yusarn Audrey is a boutique intellectual
property law firm that provides a
seamless delivery of intellectual property
and legal services to help our clients
protect, manage and commercialise their
valuable intellectual assets worldwide.
Neo Group
F&B
T: 6896 7757 F: 6515 0421
www.neogroup.com.sg
The award-winning Neo Group comprises,
Neo Garden Catering (Singapore’s No.1),
Orange Clove Catering and Deli Hub
Catering (Halal Certified Brands), 17
umisushi outlets islandwide and Neo
Yacht for all your celebration needs.
SAP Asia
IT Solutions
T: 6664 6727 F: 66645002
www.sap.com.sg/sme
Over 88,000 SMEs worldwide rely on
SAP’s SME solutions to help them
streamline operations, improve efficiency
and drive profitable growth. Learn how
SAP and our experienced partners can
help your business run better.
Cisco Systems (USA) Pte Ltd
IT/Telecommunications
T: 63177269 F: 63177796
www.cisco.com/sg
Cisco is the worldwide leader in
networking that transforms how people
connect, communicate and collaborate.
Contact us at asksg@cisco.com to
experience how we can transform your
business!
Pacific Forest
Engineering
T: 6368 6675 F: 6368 7039
www.pacificforest.com.sg
A multi-faceted enterprise that focuses on
the design and building of lifestyle homes
and resorts, product manufacturing,
trading and R&D for green solutions.
Projects such as Four Seasons Resorts,
Bora Bora are successful milestones
etched into our company’s portfolio.
Serangoon Gardens Country Club
Hospitality
T: 6286 8888 / 6398 5381 / 6398 5365
F: 6398 5344
www.sgcc.com.sg
Serangoon Gardens Country Club offers
a tranquil environment for your business
meeting or seminar. Our venues are wellequipped
with state-of-the-art equipment
and conference aids for your needs.
Oki Data (S) Pte Ltd
IT Solutions
T: 6221 3722 F: 6594 0609
www.oki.com.sg
OKI is a major player in the printer market
and is dedicated to creating relevant,
high performance products, applications
and services to meet the individual inhouse
printing needs of today’s large
enterprises and SMEs.

Leveraging on government
assistance schemes to
increase Productivity
Understanding the appropriate government assistance
schemes from the vast pool of grants can be daunting
to any SME owner. Typically, SME owners are more
concerned about the bottom line of the company rather than
dwelling on such assistance schemes. Perhaps, a timely and
appropriate mapping of government assistance schemes
against the ‘real’ needs of the SMEs would be beneficial in
meeting these prerequisites.
Below are five tips that SMEs can consider when deciding on
using such schemes:
1. Readiness of the company.
Some SME owners have the misconception that all government
assistance schemes are relevant to them. They often neglect
the qualifying criteria and suitability of certain schemes, hence
disappointing themselves after realizing that they do not meet
the application criteria. This may lead to future resistance
towards government assistance schemes. A point of advice:
check and thoroughly understand the qualifying criteria first
before applying for any government assistance schemes.
2. The right person for the right job.
Due to limited resources, some SME owners would task
the company’s staff to research and apply for the relevant
government assistance schemes. However, the SME owner
may have neglected the fact that the employee is not the best
person for the job as he or she often lacks the expertise. The
idea of saving costs by designating the wrong person for the
job may cost the company even more eventually. SME owners
are advised to work with the right consultant for the job even if
it means paying a little more.
3. To increase productivity.
Productivity may be more than a simple equation of input/
output. The conventional idea of increasing productivity by
making the employee work longer hours does not constitute
any productivity improvement. Employees who have to work
to p 5
longer hours than others are more likely to leave their job
compared to one who has a more balanced work-life schedule.
In addition, there are five Enterprise Development Centres
(EDCs) set up by Spring Singapore to provide advice and
assistance on Productivity Management Programmes (PMP) to
SME owners.
4. To innovate current business model.
As the market is constantly evolving, SME owners are
encouraged to innovate their business, build strategic alliances,
and explore new revenue streams. Cost-cutting measures
may not always be the best approach during an economic
downturn. Instead, innovation through technology, marketing,
business processes, information communication technology
will help SMEs maintain a competitive edge over conventional
business models.
5. Willingness to re-invest.
SME owners are encouraged to invest in their business
expenditure in order to increase productivity accordingly.
Government incentive schemes are available to help companies
defray qualifying costs e.g automation equipment, training
of employees etc. In addition, businesses should also invest
into capability upgrading. SME owners can apply for the
Innovation Capability Voucher for up to S$10,000 to spend on
four areas namely; Innovation, Productivity, Human Resources
Development and Financial Management. Investment into
employees can reap huge benefits for the company as well. A
satisfied employee will definitely be more willing to go the extra
mile to deliver excellent service, which is a key factor to keeping
the customers happy.
Jeffrey Koh
Managing Director
Loyal Reliance
Ju l | Au g 2012
En t r E p r E n E u r s’ Di g E s t
63

su b s C r i p t i o n fo r m
Yes, I would like to subscribe to Entrepreneurs’ Digest:
1-year subscription – $41.40
2-year subscription – $74.50 (save 10% off regular price of $82.80)
(Postage fee inclusive)
Subscriber’s Details:
Dr/Mr/Mrs/Ms
Mailing Address
Company Name
Designation
Home Tel No Mobile:
Fax No.:
Method of Payment
By Credit Card Amex Diners VISA Mastercard Credit Card
Number
Card Holder’s Name Card Expiry Date (Month) (Year)
By Cheque Crossed Cheque No. (payable to ASME)
Please send your subscription form with your cheque enclosed to:
Association of Small and Medium Enterprises, 167 Jalan Bukit Merah, Tower
4, #03-13, Singapore 150167
Subscription is strictly non-cancellable and not valid with other offers
or promotions.
For enquiries, please contact us at: 6513 0388.
Launched in September
2004, Entrepreneurs’ Digest
is a publication by ASME
and the first SME-centric
bi-monthly publication that
provides a comprehensive
information resource for the
development of SMEs.
Entrepreneurs’ Digest prides
itself in providing quality
and effective information
to equip entrepreneurs,
business owners, managers
and decision makers to
make informed decisions to
grow their business.

Scan & Win!
Scan the QR code now to find out how you can WIN A FREE Lenovo ® Ideapad ® Tablet!
* Valid till 15 August 2012. Terms and conditions apply.