Dutch students in Singapore - Association of Dutch Businessmen
November 2008
MITA 373/03/2001
Dutch students
in Singapore
Singapore’s high
productivity in danger?
The workspace of.....
It takes 28 days to brew a Heineken.
Consume at your own leisure.
Prologue
Dear Members,
Last week I received from a dear friend the following text;
Frank Kuijsters
My Resignation
I am hereby officially tendering my resignation as an adult. I have decided I would like to
accept the responsibilities of an 8 year-old. I want to go to McDonald’s and think that it’s
a four star restaurant. I want to sail sticks across a fresh mud puddle and make a sidewalk
with rocks. I want to think M&Ms are better than money because you can eat them. I want
to lie under a big palm tree and run a lemonade stand with my friends. I want to return
to a time when life was simple; when all you knew were colors, multiplication tables, and
nursery rhymes, but that didn’t bother you, because you didn’t know what you didn’t know
and you didn’t care. All you knew was to be happy because you were blissfully unaware
of all the things that should make you worried or upset. I want to think the world is fair.
That everyone is honest and good. I want to believe that anything is possible. I want to be
oblivious to the complexities of life and be overly excited by the little things again. I want
to live simple again. I don’t want my day to consist of depressing news, hearing about how
bad the stock markets are doing, that banks are going bankrupt, the mountains of paperwork
on my desk, how to survive more days in the month than there is money in the bank, doctor
bills, gossip, illness, and loss of loved ones. I want to believe in the power of smiles, hugs,
a kind word, truth, justice, peace, dreams, the imagination, mankind, and making angels in
the snow. So... here’s my checkbook and my car-keys and my credit card bills. I am officially
resigning from adulthood. And if you want to discuss this further, you’ll have to catch me
first, cause..............” Tag! You’re it.”
I don’t how it was for you when you read the text, but when read it I thought for a moment,
yes great to be 8 year old again, certainly in these times we live in at the moment. There is
so much happening in the world around us that I even prefer not to pick up the newspaper or
listen to the news. Just trying to ignore what is happening. But “luckily” the other inner voice
speaks then to me and says take your responsibility and act as a grown up. So I start to write the
prologue for the ADB magazine, make the questions for the survey for the December/January
issue of the ADB magazine (which of course we hope all the members will fill in), send an email
to the always busy members of the editorial committee that I still miss some articles and that
the deadline already has passed. Even though it would be great from time to time to be for
a short moment 8 years old, how often do we really allow it ourselves?
Enjoy reading the new ADB magazine, with articles to dream with and of course articles that
are more serious!
Frank Kuijsters
‘
To share meaningful and business-related information amongst the Dutch
business community in Singapore, whilst networking in a fun environment ’
Jan de Vegt
Remco Muzerie
Annabelle Deken
Ard Huisman
Freddy Meindertsma
Richard van der Werf
Vol.18 • No. 9 • November 2008
A monthly publication of the
Association of Dutch Businessmen
ADB Board
Jan de Vegt
Remco Muzerie
Annabelle Deken
Ard Huisman
Freddy Meindertsma
Richard van der Werf
Frank Kuijsters
President
Vice-President
Honorary Secretary
Honorary Treasurer
Member
Member
Member
C o n t e n t s
Prologue 1
Editorial Committee
Frank Kuijsters, Chief Editor
Anouk Binkhuysen
Dennis van der Meijs
Kiki van der Erf
Lineke van Nederpelt
Madelon van Tol
Richard Soemita
Sharon van de Veerdonk
Secretariat
Lineke van Nederpelt
Mailing Address:
c/o 22 Camden Park, Singapore 299814
Telephone: 9101 6201
email: adb@pacific.net.sg
Website
Email
: www.adb.org.sg
: webmaster@adb.org.sg
Editorial contributions for the next issue may
be sent or handed over to the ADB Secretariat,
before or on the day of the monthly ADB
meeting. The contents of this magazine are partly
based on information received from third parties.
The Committee does not take responsibility
for the correctness of the articles.
Designed by Jennifer Phua
Printed by Khoo Sun Printing Pte Ltd
MITA 373/03/2001
Membership fee is S$ 100 per calendar year.
For registration, please see the website www.
adb.org.sg/en_member_signup.htm.
Membership is renewed automatically effective
the first month of the new calendar year.
Make your cheque payable to “Assocation of Dutch
Businessmen” and send to ADB, c/o 22 Camden
Park, Singapore 299814.
Termination of membership must be received by
ADB Secretariat in writing before 1 January,
otherwise you will be charged for the full amount
for the following calendar year.
Please notify the ADB secretariat of any changes in
employer, (email) addresses or any other personal
particulars that might be of interest to the ADB
administration.
Review
An impression of world-class logistics at the
PSA Singapore Terminals 3
Business
Lexmar Engineering, the major saturation
diving system supplier 5
CHINA SPECIAL: Part 1 Meeting the Dragon,
an introduction of China 6
Interview
Interview with Bart Reintjes 8
Singapore
Dutch students in Singapore 12
Bizz Agenda 14
Know your tax
Upcoming changes in Dutch tax law? 15
Green Page
Is Singapore’s high productivity in danger
because of climate change? 16
Conference Calendar 18
Column by...
Richard Soemita
Casual Friday’s 19
Business News 20
The workspace of… 21
EVENT Agenda 22
Embassy info 23
association info 24
Vol.18 • No. 9 • November 2008
Review
An impression of world-class logistics
at the PSA Singapore Terminals By Anouk Binkhuysen
This month, the ADB Board selected a very
interesting location for their special event; a visit
to the PSA Singapore Terminals. Their initiative
was received with a lot of enthusiasm as the tour
was fully booked. It was an impressive event and I
think many of us had not expected PSA Singapore’s
Terminals to be so large and efficient, when you
happen to see it with your own eyes. Singapore is
a dot on the world map, but has become a giant in
container logistics and the number one in the world
within less than 20 years. In one word: WOW!
At 5.30 p.m., we gathered in the lobby of
the PSA Building for an introduction of
PSA’s activities and a brief overview
of their terminals, how and where
they are located. In the main hall,
a huge marquette gives a very
good impression of the size and
the location of the four container
terminals of Singapore’s Port; Tanjong
Pagar, Keppel, Brani and Pasir Panjang.
After the introduction, we headed to
the 40 th floor for a video presentation and
a spectacular view of the skyline of Singapore
and the large area of all the PSA terminals. The
bus took us to Keppel terminal
and Tanjong Pagar terminal and
manoeuvred itself through all the
container blocks, so that we could see
the immense surface of all the terminals and how
it is organized in a highly efficient way.
Vol.18 • No. 9 • November 2008
Review
Some very interesting facts to mention of PSA
Singapore Terminals:
• PSA International is the world largest global
operator with 28 ports in 16 countries.
• PSA Singapore Terminals operates as the
world’s largest container transhipment hub,
handling about one-fifth of the world’s total
container transhipment throughput.
• In 2007, PSA Singapore Terminals handled 27.1
million containers and their terminals moved
18 million tonnes of break-bulk and specialised
cargo and over one million vehicles.
• 85% of the containers at PSA Singapore
are transhipment containers, that enables
Singapore to be one of the most important
hubs for Asia to redirect the containers to
other countries in Europe, the United States
or Japan for example.
• PSA Singapore Terminals is highly developed
in using e-business operations in the shipping
industry. Their IT-systems commands and
controls highly complex transhipment operations
in their four container terminals.
Our final destination was Little Bali, at Lock
road; diverting all the impressions by a cool
refreshment with our Dutch friends.
Operational highlights
Daily sailings to:
United States 2
Europe 4
Japan 5
China, HK, Taiwan 9
South & SE Asia 70
No. of shipping lines 200
No. of ports connected 600
No. of countries linked 123
Vol.18 • No. 9 • November 2008
Business
Lexmar Engineering, the major
saturation diving system supplier
LexMar Engineering Pte Ltd, in operation for over
12 years, is a leading manufacturer and supplier
of Offshore Marine, Hyperbaric / Saturation and
Air Diving Systems. All products come inclusive
installation, testing and commissioning services.
Lexmar operates in South East Asia, Europe and
the America’s.
LexMar was founded by Lex & Marieke Barker.
From its origin the company provides refurbishment
services for the diving industry.
Marieke, who is originally from Holland and
Lex, who was born in UK and grew up in New
Zealand met each other in Holland while working
for Smit Offshore Contractors in Rotterdam.
Over the years LexMar has grown into a company
that is recognized as one of the main suppliers of
saturation diving systems. The company builds and
sells complete new saturation diving systems to
international classification standards.
Being located in Singapore gives LexMar a
prime position right in the heart of the Asia Pacific
region. In fact, recently Singapore’s Minister for
Trade and Industry has launched a US $280 million
(S$400 million), five year development plan for the
country’s offshore petroleum services facilities in
Loyang, declaring it will “further enhance” the
nation as a leading oil and gas center “next to
Aberdeen and Houston”.
From the new 40,000 sq ft manufacturing
facilities at no. 3 Loyang Way 6, LexMar Engineering
Pte Ltd provides the high standard services and
products that are demanded by customers in South
East Asia, Europe and the America’s.
Lex Barker past away last year but that did not
prevent the company which currently employs 100
staff, to continue to grow.
People are our greatest assets and as such we
are confident towards the future. We will make
Lex proud of the organization he started. It is our
ambition to become the world leader in our field
of expertise.
To date we have supplied LexMar equipment
to companies in the UK, U.S.A, China, Middle East,
West & South Africa, India as well as Singapore
and Malaysia.
The company operates under SS ISO 9001:2000
quality standard which includes:
• Engineering & Design
• Manufacturing
• Equipment refurbishment
• Equipment sales
• Calibration & Testing
• Service & Maintenance Agreements
The company is able to do most hyperbaric/
diving projects in house, from whole system design
till vessel integration and equipment supply.
LexMar is a member of International Marine
Contractors Association (IMCA), Association of
Diving Contractors (ADC) and complies with their
guidelines and standards for equipment used in
the diving and hyperbaric industry worldwide.
For more information: www.lexmar.com.sg
By Marieke Barker
Vol.18 • No. 9 • November 2008
Business
CHINA SPECIAL: Part 1 Meeting the Dragon,
an introduction of China By Anouk Binkhuysen
Harbin
Urumqi
Hami
Kashgar (Kashi) Tulufan
Changchun
Dunhuang
Hohot
Beijing
Jilin
Datong
Yingchuan H
Tianjin
Dalian
Yantai
Xining Yanan Taiyuan
Jinan
Qindao
Lanzhou
Luoyang
Kaifeng
Xi’an Zhenzhou
Nanjing
Chengdu
Lahsa
Yichang
Suzhou
Hefei
Wuhan
Shanghai
Chongqing
Changsha
Hangzhou
Shangri-La
Guiyang
Nanchang
Dali
Kaili
Fuzhou
Xiamen
Kunming
Guilin Guangzhou Taibei
Nanning
Shenzhen
Macao Hongkong
Gaoxiong
Beihai
Haikou
Source: www.gogx.net
Sanya
Since adopting market reforms in 1978, China has been among
the world’s fastest growing economies. China is a magnet for
foreign investors, with its economy growing at 10% for four
years running and to become the fourth economic power in
the world. Although the Chinese government has opened its
markets to a certain extent to attract foreign investors by
adopting a pro-business environment in selected economic
zones of the country, doing business in China is still easier
said than done.
In this issue and the next two issues (except for the
December-January Special), we will give you an overview of
several Dutch companies from different type of industries
that have entered the
Chinese market and
their experience of doing
business in China. In this
edition, we start with
an introduction with
the facts and figures of
China.
Picture source: www.travel.
nationalgeographic.com
China fact file
Area 9,560,900 sq km Capital Beijing
People
Population (millions) 1,314.48 Population over 65% 7.9%
Urban population 2007 45% Urban population 1995 29%
Economy
GDP (RMB billions) 20,940.68 GDP (US$ billions) 2626.30
GDP per capita (RMB) 15,973 GDP per capita (US$) 2,040
Employment
Total workforce (millions) 753.60 Unemployment (% of workforce) 4.1
Society
Number of households 539.10 Mobile phones per 100 pop. 152.9
(millions 2005)
Average number 3.13 Automobiles per 100 pop. 4.3
per household (2005)
Per capita annual income of urban households (RMB) 12,719.2
Per capita annual income of rural households (RMB) 5,025.1
Vol.18 • No. 9 • November 2008
Business
Urbanization in China
About 600 million Chinese now live in cities, yet that represents only 45 percent of the population,
compared with more than 80 percent in the United States, so China’s cities are likely to grow considerably.
New research by the McKinsey Global Institute projects that by 2025, an additional 325 million people of
which about 230 million migrants will move to China’s cities. Following the current trend, the country’s
urban population will reach 926 million by 2025 and top 1 billion by 2030.
To read more about urbanization in China, please read the article “Preparing for China’s Urban
Billion”, in the McKinsey Quarterly.
The role of the state
Government ownership is declining rapidly; today only about less than 25% of China’s industrial output
is generated by state-owned enterprises. Currently the majority of production is generated by private
companies and companies with foreign investment. Except in a few sectors—defense, telecommunications
services, and energy, for example—much of the economy is now in private hands. The reason is
straightforward: China’s leaders recognize that state enterprises are inefficient and must be stimulated
from the outside to compete in the marketplace.
Relationships
Many executives are convinced that relationships are the key to doing business in China successfully. That
was certainly true in the early days of its economic opening to the outside world. Lengthy discussions, often
accompanied by extensive socializing, were the norm as the country’s negotiators strove to understand
their foreign counterparts. Today, 20 years of investment experience later, the Chinese are looking at
the tangible business track records of foreign companies. Those that fail to bring tangible advantages,
such as new capabilities, technologies, or business models—as well as a record of success—are unlikely
to win the deal, no matter how good their relationships.
Nevertheless, a strong government-relations program remains an important factor for success in
China, where, as in other emerging markets, the state uses its influence over market access and business
rights and set the boundaries on how far foreign companies can go.
Highlights
GDP growth rates:
1998 2002 2004 2006
7.8% 9.1% 10.1% 10.7%
• China’s economy threatens this year to overtake Germany as the world’s third-largest.
• In 2006, China’s external trade reached US$ 1,761 bn, ranked the 3 rd in the global economy.
• China exports in 1980: 50% primary goods and 50% manufactured goods. In 2006: 5.5% primary and
94.5% manufactured goods.
• China’s foreign exchange reserves reached US$1.3 trn by the end of June 2007, the largest in the
world.
• New highway construction: 140.500 km.
• By 2020, 82% of the Chinese people will live within a 90 minutes drive of an airport.
• The Chinese save and invest upwards of 40% of their income (Americans save 2%).
• Almost 345,000 millionaires in mainland China (counted in US$).
• China is the world’s second-largest internet market after the US, with 162 million web users.
• In 2006, there were still 21.48 million people living below the poverty line in rural areas.
Government
ownership
is declining
rapidly; today
only about
less than 25%
of China’s
industrial output
is generated by
state-owned
enterprises.
Currently the
majority of
production
is generated
by private
companies and
companies
with foreign
investment.
Sources:
Article ‘A guide to doing business in China’, December 2004 Mc Kinsey Quarterly
China Business Guide 2008
Vol.18 • No. 9 • November 2008
Interview
Interview with Bart Reintjes By
Frank Kuijsters
Last month I spoke with Bart Reintjes, Head of
Human Resources Asia for ING Wholesale Banking
at a coffee shop at Raffles Place about the
main human resource issues for ING’s corporate
and investment banking operations in Asia and
whether they are different from the issues of
ING in the Netherlands.
A little over two year ago Bart Reintjes moved
with his wife Madelon and his two sons Laurens
and Olivier from the Netherlands to Singapore
to become Head of Human Resources for ING’s
Wholesale Banking division in Asia. Bart has worked
for ING for the past 12 years, and when this new
opportunity came up he simply couldn’t refuse.
He saw it as a natural next step in his career.
Even before ING asked him to go overseas Bart
and Madelon had already decided that a move
to another country could be a possibility. The
decision to move was therefore easily made: the
job sounded interesting, really working abroad was
tempting, Singapore is an interesting city to live in,
the kids are still at an age that the change wasn’t
too hard, and he was looking forward to work with
the Asia CEO of Wholesale Banking, Wilfred Nagel,
who he already knew. Of course the international
aspect would also be a good step for his career.
Now two years later and looking back he can
conclude that everything went even better than
expected. His job is even more interesting. At
the beginning he was not sure if he could use
his knowledge from the Netherlands. However
everything he learned back in the Netherlands is
applicable here.
Madelon likes living in Singapore, after some
adjusts problems in the beginning. Meanwhile she
has built her own network and Laurens and Olivier,
who attend the Dutch school, are real expat kids;
their Dutch schoolboy attitude (to be strong) has
modified (to be more relaxed). They are getting
more or less used to their friends leaving regularly
although they don’t like it, and they try to keep in
touch with some of them.
Because close family is far away and old friends
are more distant they have became increasingly
dependent on each other. Bart and Madelon started
a whole new social life in Singapore. Not as they
had expected with a lot of local Singaporean
friends but mainly with new Dutch friends. This
network is centred on the boys and the Hollandse
School and their active membership of the
Hollandse club. Do they regret this? “No”, answers
Bart. Would they do it again this way? “Maybe,
but I would probably consider sending them to an
international school” he says.
ING, where Bart works, has six divisions in Asia;
Wholesale Banking (900 employees in the region)
Vol.18 • No. 9 • November 2008
Interview
which is headquartered in Singapore, Insurance
(17,000 employees, Investment Management (800
people), Private Banking (500 employees) and Retail
Banking (7,000 employees). Bart and his team are
responsible for Human Recourses & Development of
Wholesale Banking; in addition they take care of HR
operations support for the Real Estate and Private
Banking divisions. Wholesale Banking has 14 offices
in the region: Singapore, Hong Kong, China (Beijing
and Shanghai), Australia, Indonesia, Malaysia,
Mongolia, Philippines, Taiwan, Japan, Korea,
Thailand and India. The customers of the Bank
are mainly multinationals, where close worldwide
cooperation within the bank and international
financing options are ‘a must’.
Bart visits most of the offices once every year to
get a better understanding of the local issues and to
have face-to-face meetings with his team members
and key players in each country. Occasionally if a
matter needs a hands-on approach he also might
fly in, knowing that the personal touch and faceto-face
contact are important factors in reaching
his goals and influencing outcomes.
When Bart started his job in Asia he got involved
in almost every decision within Human Resources,
even the minor ones. In the beginning this was very
handy; he learned fast, and because of this deep
involvement, he gained a good overview of the
organization and the employees. But eventually this
became unworkable; he spent too much time on
topics where others needed to take responsibility.
Furthermore he didn’t have the time to focus on the
really important issues. So he needed to shift the
behavior of his team members. He needed them to
be more pro-active and take responsibility for their
own actions. Not an easy task in the Asian region.
He started gradually, by asking every team member
to come up with several solutions when a problem
occurred. They were discouraged to just drop
problems on his desk. Some of his employees picked
this new regime up very quickly and were eager to
take responsibility, while others still find it hard.
He says “you can’t force people to change their
behaviour, but you can motivate them to do so”.
Most of the times in larger group meetings, people
tend to not voice their opinions directly, but when
he speaks with them individually you can receive
a lot of ideas and input. Culture, by definition,
has a very strong effect on employees’ behaviour
and change only happens gradually. However, Bart
remarks that his Singaporean colleagues adjust
more easily compared to his team members in the
other countries. Maybe because they are more
used to working in an international environment,
or maybe it is just because he is more often in the
Singapore office.
Attracting high calibre new employees,
retention of current employees and the
development of existing employees are the main
issues Bart faces at the moment.
One of the reasons, he believes, for difficulties
in attracting and retaining employees is a legacy of
the reorganization ING’s banking operations went
through a few years ago. Quite a large number of
employees also left due to the sale of the Asian
cash equities division to Macquarie and in the
banking world people started to ask questions
about how committed ING was to Asia. At the time
this didn’t have a positive effect on the image of
ING (its brand as an employer) and had a negative
effect on remaining staff. ING had to work hard to
retain the remaining employees and to build their
image back in this particular market.
At this moment it is clear in the market
that ING is not going to leave Asia. The brand is
becoming stronger and stronger in the region,
greatly helped by the Formula 1 sponsorship.
Still, ING is a relatively small player in Asia when
compared to the high visibility in the Netherlands.
That makes it sometimes hard to attract new
employees and in addition Bart says that given the
relatively compact size , that sometimes also limits
opportunities for employees to make a next step in
their career within the organisation, particularly
if they are not internationally mobile.
In general the issues he faces here in Asia
differ only slightly from those of his colleagues
in the Netherlands, or for that matter, of any
other country where ING operates, these are
global issues. The solutions probably differ from
country to country. Particularly, in the financial
hubs Singapore and Hong Kong but also in China,
employee’s mobility between banks is dynamic.
Vol.18 • No. 9 • November 2008
Interview
During good times, when they can earn an
additional $1,000 or so more by moving, they
change employer easily with little regard to other
factors. The selection process of employees in
Asia is also different, when compared to the
Netherlands. Here it is a much shorter and faster
procedure, with hiring decisions being made after
just one or two meetings. Mostly this is connected
with a lower employee protection under the
labour laws of some countries.
ING wants more local people on senior jobs
in the region but still with a clear perspective for
being an international player. To achieve this ING
is investing more and more in the development
of their employees.
Canadian International School invites suitable
candidates to apply for the following position:
ADMISSIONS OFFICER
Essential job functions:
• Attend to all enquirers (telephone, emails, personal tours
and interviews) of CIS’ programme
• Attend to the admissions and maintenance of all students
of assigned campus
Minimum requirements:
• Good interpersonal and excellent communication skills,
and ability to freely and openly engage in discussions with
a multicultural clientele
• Highly fluent in English (both written and oral). A second
language is an asset
• Some working experience in a multi-cultural environment
preferred
• Sound knowledge of computers and good working
knowledge of Word, Excel and Access. Comfortable
with learning new programmes
• Good organizational skills, and ability to work within a
team environment
• Knowledge of IBO and/or International school programmes
would be an asset
Please send your resumes with a recent photo to apply@cis.
edu.sg or contact Joanna Lim at 6469-4962
Due to the downsizing there was less focus on
the development of employees. Since everything
has settled down, ING is focusing again on the
development of talent. The desired ING culture
“A Winning Performance Culture” is being lead
through Human Resources. This organisational
culture is designed to apply in an international
environment and respects for different cultures.
ING wants more local people on senior jobs in
the region but still with a clear perspective for
being an international player. To achieve this ING
is investing more and more in the development
of their employees. We have very good talent in
our organisation; the challenge is to groom and
to develop them in such a way that they are able
to lead the organisation in achieving its growth
ambitions. Exchange programs between Asia and
head office in Amsterdam and between countries
in the region, are only way of supporting that.
Bart’s difficulties with his development
programme are amplified where the local office is
small. If the talent pool in these offices is also not
very mobile then the possibilities for promotion are
limited. That is why Bart is looking for innovative
solutions that work in the Asian region. As an
example they started working with so called virtual
project group: a group of talented employees from
six different countries in the region were given an
assignment; next to their normal job and within
100 days, they had to standardize all the different
job descriptions (200) in the Operations & IT
department across the region and to make a training
plan covering these job descriptions. The project
team members work from their own office on the
project, plus they have the opportunity to interact
with different colleagues in the region, and as a
result they grow in experience and could develop
themselves, and, importantly, have exposure
within the organization. One of the hugely positive
outcomes of the project is that the engagement
level of this group has increased enormously.
Every year ING does an Engagement Survey
amongst all their employees. Recurrent are two
topics: firstly demand for clearer communication
about the strategy and the contribution that
employees can make and secondly information
on opportunities for their personal development.
After the last Engagement Survey a lot has been
done in the organization to meet the demands.
Bart is looking forward to the results of the new
survey and hopes the efforts of last year have
worked (meanwhile the survey results clearly show
that the efforts did pay off). Bart is not yet finished
with his plans in the region and hopes to have more
years in Singapore, and ING.
10
Vol.18 • No. 9 • November 2008
Singapore
Dutch students in Singapore
By Dennis van der Meijs
Noortje explains that students who are
interested in studying abroad are requested to
send a letter explaining their motivation and top
5 favorite universities. The Erasmus Exchange
Program Board reviews these letters and decides
which students can enter the program. In addition
to motivation, grades play an important role in
the decision making process.
There is a healthy competition between
universities globally, there is even an official ranking,
so only the best students will be exchanged.
Beside the many Dutch expats that work in
Singapore, there is an increasing number of
Dutch students that find their way to the Garden
Island. Who are these students? What brings them
to Singapore? What do they study and how does
studying in Singapore compare to the student life
in The Netherlands?
It’s time to meet Niels van Deuren (20),
Noortje Strack van Schijndel (20), Liesbeth
Keulemans (22) and Onno Boer (20).
It is around 19.30 hrs on a weekday and
my taxi stops at Mount Sinai View, a very
nice residential area close to Holland Village.
This is not a particular area where you would
expect Dutch students to live. I am about to
meet Niels & Onno (students in International
Business Administration), Noortje (student
Business Administration) and Liesbeth (student
Psychology). All four are students of Erasmus
University in Rotterdam and they are here on a
6-month exchange program with NUS (National
University of Singapore) and SMU (Singapore
Management University).
Can you explain how the exchange program
between Erasmus University and NUS/ SMU
works?
Each year a select group of students at Erasmus
University are given the opportunity to complete
part of their studies abroad. Erasmus University
maintains strong relationships with universities
all over the world. The concept is truly based
on students’ exchange, which means that for
each student of the Erasmus University a foreign
student from an affiliated university is hosted at
the Erasmus University in return.
What was your motivation for applying for
the exchange program?
All respond that the international experience and
the possibility to further develop socially and
culturally were their main drivers.
For Liesbeth studying in Sydney was her first
choice. For the others Los Angeles, Hong Kong and
off course Singapore were on the top of their list.
Students rank Singapore among the most popular
places to study. Partially because well known
professors lecture at Singapore Universities but
also because Singapore is perceived “Asia for
beginners” especially with those students that
have not traveled in Asia before.
What about the financial side of the
exchange program?
Niels explains that exchange students do not
have to pay tuition. They are however requested
to pay for everything else, e.g. travel, housing
etc. While abroad students continue to receive
“studiefinanciering” and additionally they receive
€80, - per month compensation for the “OV
jaarkaart”
There is also an option for financial aid
through the “Van Beek foundation”. The Van Beek
foundation supports exchange students financially
and to qualify students must send in their budget.
Onno explains that at the end only a few receive
an allowance. The amounts range between €500,
- and €800, - meaning that the students are
responsible for the majority of the costs which
often can be quite a challenge. Niels starts to
laugh and says that when your financial means
are limited, you have to be creative.
He explains that the biggest challenge was
finding affordable housing.
Niels was the first of the group to arrive in
Singapore. For two weeks he stayed at Sleepy
12
Vol.18 • No. 9 • November 2008
Singapore
Sam a youth hostel in Little India, which he used
as a base to search for appropriate housing. Every
day he searched the Singapore Straits Times and
communicated the available options with the rest
of the group via the internet. After 9 days Liesbeth
was the one that decided to rent the house at
Mount Sinai View.
Why not stay at the NUS/ SMU campus?
They all agree that staying at the University
campus would have made more sense but
unfortunately there were no available rooms.
Singapore Universities offer high quality housing
to their students at affordable prices. Universities
charge students S$ 473, - a month for a single room
with private bathroom which is quite a difference
with the prices in the private sector which are
about S$ 1,000 - per room a month.
What was your first impression of
Singapore?
Over-organized, modern, clean, rows, numbers
and kind people. Niels adds that he was expecting
Singapore to be more tightly organized. They all
like it here and agree that it did not take long to
feel ‘at home’.
Tell us about your studies in Singapore?
It is mandatory to follow 4 ½ months of classes.
Students have to take a minimum of 4 classes.
Onno explains that exchange students are free in
their choice of classes as long as they are in line
with their (home) studies. Classes like Singapore
Business Government & Society are very popular
with foreign students. This class deals with all
aspects of Singapore history and society. Liesbeth
adds that students like to take advantage of
the fact that many classes offered by Singapore
Universities are very much focused on Asia. Some
of the classes that our Dutch students take are:
Asia Business Society, Asia Market and Marketing
Management, Intercultural Communication, Retail
Management & Psychology. Niels is also following
German class! He is the only exchange student in
this class. He smiles: “Quite an experience talking
with Singaporeans about their health care system
in German!”
At the end of the exchange period there is an
exam for which the students have to pass. Contrary
to what you would expect, the grades itself are of
less importance. Since Universities maintain their
own grading methodologies, all grades need to be
converted from foreign grade to home University
grade, which is too much of a hassle, and therefore
they leave it at pass or fail. Failing the exam means
students have to re-do that particular class upon
return in The Netherlands demonstrating that the
exchange program is an essential part of their
studies.
How does the level of study in Singapore
compare to the level of study in The
Netherlands?
According to Noortje the level is a little bit lower
here compared to Erasmus but the work pressure is
much higher. Local students are very eager to learn
and there is much competition. On the other hand
locals are not very efficient, they have difficulty
separating essential and accessory matters and
love meetings. “They even have meetings about
meetings”, Noortje adds.
The library must be the busiest place on
campus. It is often very difficult to get a table to
study no matter what time of the day.
Classes are much smaller in Singapore. The
average lecture here is attended by about 30
students while at Erasmus classes of 200 students
or more is no exception.
Professors that lecture in Singapore come
from all over the world, which makes studying in
Singapore very international.
All four agree that the quality of the lectures at
NUS/ SMU is much higher then in The Netherlands.
“The professors here seem
much more motivated and
engaged; most of them
know their students by
name” Liesbeth explains.
In addition, attendance
here is not as ‘voluntary’ as
in Rotterdam. Attendance
is strictly adhered to and
students are even graded
for participation.
13
Vol.18 • No. 9 • November 2008
Singapore
The threshold to study In The Netherlands
is much lower then in Singapore. The annual
tuitions of Dutch Universities are a fraction of
the tuitions payable in Singapore. The annual
tuition fee for the 2007/2008 academic year for
local students at NUS vary from S$ 25,110 - for
an undergraduate Arts & Social Sciences program
to S$ 97,020 - for an undergraduate Medicine
study .
The fact that studying in Singapore is very
expensive compared to The Netherlands seems
to have a positive effect on the motivation and
drive of the Singapore students. Local students
do not only focus on the graduation itself but
also to complete their studies with the highest
possible grades. “Being best in class is very
important”. The combination of grades and the
reputation of the University attended is the key
to a successful career.
In The Netherlands, dropping out is no big
deal compared to Singapore where dropping out
would not only mean tremendous loss of face
for the student itself but also for his whole
family.
Is there something like the typical student
life in Singapore?
All smile and the answer is unanimously: NO!
Studying is Singapore is only about studying.
There is no such thing as a “studentenvereniging”
or “ontgroening”.
However exchange students do get together
regularly. Wednesday nights (lady’s night) seem
to be popular for socializing at Double O while
on Saturday’s Zouk, MOS (Ministry of Sound) and
Attica are the places to be.
What elements of studying in Singapore
should be exported to The Netherlands?
According to Onno, definitely the facilities.
Besides the very comfortable lecture halls,
Singapore Universities have very nice student
lounges, cafeterias and there is even a bus service
that brings students from one side of the campus
to the other.
Niels adds that Dutch Universities can take
discipline (especially in attendance) and level of
participation as an example.
Where do we find Niels, Liesbeth, Noortje
and Onno, 5 years from now?
Onno is convinced; he will leave The Netherlands
and explore the world. Noortje and Liesbeth have
no particular preference but to live abroad for 1-2
years is certainly something they do not exclude.
For those who want to see Niels in 5 years
time, most likely have to travel to Africa. Why
Africa? “Because it is different then what most
people do”, according to Niels.
Which things do you want to do in Singapore
before returning to The Netherlands
All agree: they want to see more of the region and
Cambodia is on the top of their list. In a few weeks
they will go to Cambodia and discover beautiful
Angkor Wat.
Final question: What is the first thing you will
do when you are back in The Netherlands?
Niels: have a “frikandel speciaal”
Liesbeth: have some real Dutch cheese
Onno: bitterballen!
Noortje: sleep in my own bed
Bizz Agenda
MPH Book Sale
14-16 November
Expo Hall 4A
www.mph.com.sg
Asia Pacific
Food Expo 2008
14-18 November
Expo Hall 5
www.asiapacificfoodexpo.com.sg
Brand Couture Congress
18-19 November
Suntec
www.brandcouturecongress.com
Technology Commercialization
Forum 2008
21-22 November
Suntec, level 3
www.nus.edu.org
Iproperty.com.expo -
International Collection
21-23 November
Suntec Concourse Level 3
www.iproperty.com/expo
Automobile Roadshow
27-30 November
Expo, Atrium 4
osakaevents@gmail.com
14
Vol.18 • No. 9 • November 2008
Know your tax
Upcoming changes in Dutch tax law?
By Pieter de Ridder and Nicolien Luijsterburg / Loyens & Loeff, tax advisers, Singapore
In a recent article published in Dutch tax literature 1 ,
three Dutch professors made recommendations to
improve the structure of the Dutch 1969 Corporate
Income Tax Act (“CITA”) and the Dutch investment
climate. The article was published in a weekly tax
law journal and the recommendations were made
in the form of a ‘legislative proposal’, discussing
the different new articles of a bill that would be
required to amend the CITA and related laws.
Publication of the article attracted a great
deal of attention from the national media to the
content of the recommendations, which give the
impression that the recommendations are being
supported by the Dutch Ministry of Finance (the
“Ministry”).
The recommendations do not have the same
implications as a formal legislative proposal
or a draft bill. Besides, it is not yet even clear
whether the Ministry will support any of these
recommendations. Nevertheless, for those
interested, please be informed about the main
aspects of the mentioned recommendations.
The recommendations made can be summarized
as follows:
• ‘Defiscalisation’ of group related interest,
which implies no taxation on interest received
from group entities and no deductibility of
interest paid to group entities.
• Renewed implementation of
restrictions on deductibility
of interest (and costs) on
liabilities to third parties
to the extent that these
liabilities are connected
with participations in
related entities. This
restriction of deductibility
of interest will only apply
in the case of a shortage
of equity (which exists,
basically, if the average
equity of the taxpayer is
less than the average value
of the participations it has
in related entities).
• Simplification of the rules
for the participation
exemption. The exemption
will, in principle, apply
to participations of at
least 5%; the rules for low
taxed passive subsidiaries
(as introduced in 2007,
resulting in a credit instead of an exemption)
will be abolished.
• Reduction of the general corporate income tax
rate from 25.5% to 20%.
• Abolition of the Dutch Dividend Tax Act 1965
(based on which, currently, 15% dividend
withholding tax is levied).
If the Ministry is to support any of the
aforementioned recommendations we shall
certainly keep you informed.
1
Weekblad voor fiscaal recht dated 28 August 2008,
page 891 et seq.
15
Vol.18 • No. 9 • November 2008
Green Page
Is Singapore’s high productivity in
danger because of climate change?
By Kiki van der Erf
According to Lee Kuan Yew (ex-Prime Minister of Singapore, now Minister Mentor of his son the current
Prime Minister Lee Hsien Long), air-conditioning is the most important invention in corporate history.
Without it there will never be any growth in productivity he has stated. In fact, Lee Kuan Yew has always
resented the heat in Singapore, he always kept his air-conditioning at 22 o C and made many (public)
organisations to do the same.
In 2002 Singapore’s environment minister at that time, Lim Swee Say, told air-conditioning executives:
“Air-conditioning plays a crucial role in our economy. Without it, many of our rank-and-file workers
would probably be sitting under coconut trees to escape from the heat and humidity, instead of working
in high-tech factories.’’
This is confirmed by John R. S. Kirkham, an Australian who grew up in Singapore before World War II
and now runs an air-conditioning consulting firm here: “Before air- conditioning, commerce was confined
to the cooler morning hours. “By 11:30 a.m. it was gin and tonics’’.
In the years after the introduction of air-conditioning in the 1950’s, shopping and dining in airconditioned
buildings became a mark of upward mobility. “Escaping into A.C. was a way of escaping
your past as a poor country,’’ says Chua Beng Huat, a sociology professor at the National University of
Singapore. For some, air-conditioning is even a matter of both life and death. At the Ji Le Memorial Park,
you can buy a niche where cremated remains rest in climate-controlled peace for $7,000. “Chinese are
very superstitious,’’ says Ji Le caretaker, Rick Chu. “Now they’re enjoying the good life. After they pass
away, they want to make sure they’re still comfortable.’’
However, the role of the air-conditioner in Singapore, goes far beyond comfort. More than a status
symbol, the air-conditioner is a metaphor for the control that Singapore exerts over many aspects of
life, from labour and finance to its media and political debate.
However, almost every expat and also a substantial part of
the local community is of the opinion that the air-conditioning
systems in shopping malls and offices in Singapore are kept
at freezing cold temperatures. Generally speaking,
the ideal temperature for most people is around
25 o C, while air-conditioning systems are normally
put at 21 o C-22 o C in malls and offices. This does
not only cause colds and under cooled employees
but also puts a high burden on the electricity
consumption in Singapore and as such adds to
climate change.
16
Vol.18 • No. 9 • November 2008
Green Page
Singapore was ranked 15 th in the world in
electricity consumption in 2004 by the Economist
Intelligence Unit, but jumped to 11 th in the
Economist Pocket World In Figures 2007.
As much as money is a driving force in Singapore
the financial benefits of turning down the airconditioning
have not seem to initiate more prudent
use of the air-conditioning by companies or
households on a substantial scale.
There are financial benefits. According to the
Energy Market Authority of Singapore and the
Unites States Department of Energy, every 1 o C
the thermostat is raised, saves about 3% on your
electric bill over a 24-hour period. For example,
if you normally keep the thermostat at 22 o C and
raise it by 3 o C to 25 o C, you save about 9% on your
electric bill. So if every household, every building, and every vehicle owner and transport operator in
Singapore raised its air-conditioning temperature by 3 o C, Singapore would effectively save at least 9%
on the country’s electric bill.
However, the general opinion of experts and business executives themselves seems to be that
companies in Singapore are not doing much to contribute to the effort of reducing global warming.
Most companies tend to feel that any impact they could make would be too insignificant, and the mega
companies and governments should take the lead.
Experts feel that the government has to incentivise change. Businesses are generally aware of the
dangers of global warming but their attitude seems to be towards complying with laws rather than
showing own initiative. Therefore the government should steer the path through regulatory controls
and guidelines.
Business executives have also mentioned that, in order
to get commitment for them to play their part, some specific
campaigns focusing on reducing vehicle emission and the use of
air-conditioning are needed. Campaigns in Singapore have proven
to be very successful and do trigger long term change. The creation
of more public awareness directed to companies or individuals
– CEO’s and employees – can be a driver of more mindful attitudes
towards the use of for instance air-conditioning.
In a speech in February 2008 Dr Yaacob Ibrahim, Minister for the Environment and Water Resources,
elaborates on the governments’ position and actions in relation to climate control. The Minister
emphasises that environmental sustainable development means Singapore must continue to achieve good
environmental performance while not undermining economic growth and competitiveness. Singapore
will adopt a practical approach.
The year before the Minister had announced that all large air-conditioned Government office buildings,
would conduct energy audits to improve their energy efficiency by March 2010. As of end 2007, 8 such
buildings have completed their audits and adopted energy-saving measures such as optimising airconditioning
and improving lighting efficiency. The Minister reports that $2.6mil in total annual savings was
achieved. Another 6 public sector buildings are in the process of implementing energy saving measures.
In addition, to increase awareness, the National Environment Agency will be launching a national
campaign to help households save energy.
On 18 th of October it was announced that air-conditioners and refrigerators which are not energy
efficient will be taken off the shelves in the near future and that these changes are all part of Singapore’s
national campaign to conserve energy.
Although it has never been demonstrated to the knowledge of the writer of this article that
employees perform better in a 22 o C environment than in a 25 o C environment, Singapore does not have
to be worried about decreasing productivity. The governments’ practical approach and emphasis on
“good environmental performance while not undermining economic growth and competitiveness” would
probably prevent a decrease in productivity when turning down the air-conditioning to 25 o C turns out
to be less productive.
17
Vol.18 • No. 9 • November 2008
Conference Calendar
A selection of upcoming conferences in the region in December:
Catalytic Reforming
1-3 December 2008
Kuala Lumpur
Anti-Money Laundering & Fighting
Terrorism Financing 2009
2 –3 December 2008
Singapore
Corporate Social Responsibility
Summit 2008
2-3 December 2008
Sydney
Restructuring Manpower to Maintain
Business Excellence
3 December 2008
Singapore
3 rd Annual China Gold & Precious Metals
Summit 2008
3-5 December 2008
Shanghai
9 th AVCJ Private Equity & Venture
Forum
3-5 December 2008
Mumbai
Performance Management Excellence ’09
4 December 2008
Singapore
Achieving Quality Internal Audit for
Maximum Performance
4-5 December 2008
Hong Kong
Mobile Backhaul Asia 2008
8-10 December 2008
Hong Kong
Mezzanine & Leveraged Finance Asia
Pacific 2008
9-10 December 2008
Hong Kong
The Emissions Reduction Summit
9-10 December 2008
Melbourne
GEO-CHIANGMAI Conference
10-12 December 2008
Chiang Mai
SIGGRAPH Asia 2008
10-13 December 2008
Singapore
The 2 nd annual China Coal Summit 2008
11-12 December 2008
Beijing
Supply Chain Management and Logistics
14-16 December 2008
Dubai
KPI and Performance Measurement for
Public Sector
16-17 December 2008
Kuala Lumpur
Bangalore HR Summit 2008
19-20 December 2008
Bangalore
Log on to www.conferencebay.com for more information on these and many other events.
And remember, you can make a bid and decide the price you’re willing to pay for any of the
conferences listed on Conference Bay!
18
Vol.18 • No. 9 • November 2008
Column By…
Richard Soemita
Casual Friday’s
Not sure if I’m the only one that is fashion conscious but things seem
to go out of hand in Singapore when it comes to dressing for any
occasion. Apart from my age I do not wear blue jeans full stop. But
nowadays everyone seems to wear these on ‘casual Fridays’ in the business
district! There is even a guy in our block who wears Bermuda shorts every
day complete with boat shoes, but luckily with a proper long sleeves stripe
shirt, which is not a Polo or…. shirt. I really must find out who he works
for since there is no office of nowadays trendy Billabong or Quicksilver in
the block, apart from banks and other obscure investment advisory firms.
Judging from this daily Bermuda outfit I reckon he actually owns a bank
and lives on a super yacht. Since that’s the outfit one will wear if you do
owe a luxury boat. The other funny thing is that he is Chinese looking,
has a banker’s hairstyle, has no obnoxious 6x6 and 3cm thick watch and
talks Mandarin to his colleagues. Not sure how he travels to the office,
but if I where to go in that outfit to the office I would take my private
helicopter for people not to see the outfit. Unfortunately our building has
no heli landing platform.
As for the ladies, they are no better. The length of some of the dresses
I have seen will make one glass eye pop out spontaneously and would
make people wonder why you would run after a marble. Most of the Asian
women can afford wearing these very short dresses given their fantastic
figure and not too long body lengths. But Singapore firms must adapt some
sort of a dress code for the office just like our American friends who at
the other hand go overboard with this. I think that an average Singapore
dress would be seen as provocation and therefore regarded as indirect
sexual harassment. Don’t get me wrong. The whole outfit looks good but
would be more suitable for a cocktail party. Visa versa they come dress
too casual at a cocktail or wedding party and I have even spotted people
with flip flops next to gala dresses in the Esplanade during a classical
concert. Basically the Singapore woman dresses the wrong outfit at any
occasion and has no concept when to wear what outfit. The same counts
for wedding parties where 99% of the men do not wear a suite or wear a
proper smoking when black-tie is required. The only person that makes
up for dressing properly is the bride who changes her outfit several times
during the evening, which makes me wonder what the purpose of that is. So
basically I do not have a problem with our Bermuda friend’s outfit as long
as he lives on his luxurious 50m super yacht. Just to show how different
Singapore is from its neighbouring countries where most businessmen from
Japan, HKG, Malaysia, even Indonesia wear suits for work or at least a tie
that matches the shirt.
The other day I was stopped by a Levi’s camera team outside the office
on a Friday. One would wonder why the CBD area and not Orchard Road,
but this proofs the amount of denim jeans that are being worn on a Friday.
The Team could not really distinguish me and my friends kaki chino’s from
denim jeans. Anyway, they informed us what they had in mind before the
shooting. I would get a few questions without seeing these in advance and
had to come with a spontaneous answer on camera. Their first question
was what would come up to my mind when hearing the brand name Levi’s.
My reply was instantly: the very cute ass of the girl that works next to our
office. Believe it or not, at that moment the girl walks past us in her actual
Levi’s and I pointed this out to the camera team. By this time the whole
team followed ‘the Levis ass’ and later I found out that my interview was
cut out and instead ‘the ass’ came up with my friend laughing hysterically
on the background, still recovering from my reply! I just have to explain
to you that initially it was not her ass that I first spotted a while ago, but
the little red Levis tag on the back pocket since it is an old brand that I
had not seen in ages.
19
Vol.18 • No. 9 • November 2008
Business news
Sources: Het Financieele Dagblad and Reuters
Belgium is on its own again
The poor cooperation between the Netherlands and Belgium
in the Fortis case is a bad omen for future European
collaboration in solving the banking crisis. Fortis’ downfall
has something of a Greek tragedy about it with the company’s
top management in the grips of a self-importance so strong
that it has led to reckless behaviour and the gods, played by
the Dutch government, looking furious but waiting for the
right time to strike and bring them down. And strike they did,
at least this is how the Belgians are looking at it today. Two
decades ago, count Maurice Lippens [former Fortis chairman]
and his team of top managers started building an empire,
buying companies here and merging with others there.
Jewel in the crown
It turned Fortis into one of the most important banks in
the Benelux. The jewel in the crown was the acquisition of
the Dutch bank ABN Amro last year. The Dutch government,
although clearly irritated by the move, could do nothing
about that. There is no doubt that the Fortis campaign to
take over ABN was spurred on by the egos of the Belgian
group’s managers which resulted in them agreeing on far
too high a price for the acquisition. On top of this, it was
unclear how the deal was to be financed which meant that
when the credit crisis hit, Fortis could not find the means to
go through with the project. The bank could have abandoned
the deal altogether but would not.
Solvency problems
Last week, the Dutch government saw its chance to remove
Fortis from the Dutch scene once and for all. It encouraged
rumours about possible solvency problems at Fortis, thereby
helping to create a liquidity crisis for the company. That is
anyway what the Belgians, and the Flemish especially, think
happened and most agree. Do we have proof? For clues, look
at what Dutch finance minister Wouter Bos did. An intelligent
man not having the reputation of making wild claims, Bos
started talking about “contaminated assets” in the Fortis
portfolio. And this at the point when the financial markets
were in a high state of nervousness. The Dutch national bank,
which is responsible for the country’s financial stability,
refused to inject money into Fortis Nederland, forcing the
Belgian national bank to shore it up with 45 billion euros of
credit. The extreme nationalistic reaction of the Dutch has
shocked many Belgians. We are used to that sort of thing
from France but not from the Netherlands. We do not expect
the Dutch government to base its policy on the slogan “our
own people first”.
Important lesson
But we have learnt one important lesson. When a crisis like
this shakes the foundations of the financial system, everybody
looks after number one. Fragile European constructions,
such as Fortis, crumble and fall. What should have been a
test of how two or more European governments collaborate
to save a European bank turned into a demolition job. This
is a bad omen for what lies ahead. Many economists now
agree that a joint effort is the best way to cope with the
current financial crisis. This is what we need to stop the
“contamination” Bos was talking about with problems in one
bank spreading to other banks. But we have to conclude that
European cooperation does not seem to be possible. If the
Netherlands and Belgium can’t succeed in working together
to save one bank, how will the other 27 countries in the
European Union manage it?
Unions limit pay claims to 3.5%
Unions have agreed to limit their wage rises for next year to 3.5% in return for extra
government cash for people on minimum income. The deal was reached at the
traditional autumn talks in which unions, the government and employers come to a
collective decision on social policy for 2009. In return for a below-inflation pay claim,
ministers will find €460m extra to protect spending power for the poor, handicapped
and people with chronic health problems. ‘In the Netherlands we have the ambition
to unite and emerge from this crisis in a stronger position,’ prime minister Jan Peter
Balkenende is quoted as saying. Balkenende was referring to the current financial
turmoil. ‘A moderate development in wages, no increases in value-added-tax [BTW]
and no unemployment premiums for workers – that is what we have achieved,’ he
is quoted as saying. Plans to raise the btw tax to 20% were dropped in the summer
following widespread opposition. Several weeks ago, the FNV union federation and
employers reached a deal on limiting redundancy payments to one year’s salary for
those with an annual pay packet of €75,000 or over. Employers have also promised to
step up efforts to find work for the longterm jobless.
Dutch are getting
lonelier
A survey commissioned by the Salvation
Army found that 10% of all Dutch people
often feel lonely and unhappy. This is
more than double the figure for 2003.
The report also concludes that 8 out of
10 people in the Netherlands are happy
with their lives. However, in 2003 this
figure was more than nine out of ten.
One in 3 Dutch people say they would like
something to give them a greater sense
of purpose in life. Many see selfishness,
intolerance, aggression and lack of
respect as the most serious problems
in society.
20
Vol.18 • No. 9 • November 2008
The workspace of…
By Sharon van de Veerdonk
located in the CBD, the vicinity
offers all kinds of restaurants,
shopping malls and of course
Harry’s at Boat Quay. The MRT
station is accessible through an
underpass but I travel mostly by
taxi. However, I opt to commute
on the train to Buona Vista
sometimes at night when it can
be quite challenging to get a
taxi.
P.C. ‘t Hart
What company do you work for, since
when and what is your job?
I have worked for ABN AMRO since 1991, performing
several functions in three different countries being
the Netherlands, Curacao and since January 2005
Singapore. Currently, I’m responsible for Marketing
and Sales, spanning five countries across the region
for ABN AMRO Private Banking.
Where is your office located?
We are located in One Raffles Quay (ORQ) and ABN
AMRO was one of the first tenants here. ORQ is
strategically located opposite the famous Lau Pa
Sat food court. It’s a beautiful spacious building,
and state of the art which boasts beautiful views
of the CBD and the Straits of Malacca. From our
building on the 25th floor, we can also follow the
progress of the Integrated Resort. Since we are
Cubicle or office?
I h a v e a n o f f i c e w h i c h
is surrounded by glass.
Nevertheless, when possible
I try to be on the “floor” to
establish close contact with
my colleagues. My room is used for meetings
and conference calls once in a while.
What do you see through your window?
Colleagues, cranes and when I stand up I see
boats and the Straits of Malacca.
What is your favorite lunch place?
Most of the time I have a sandwich from the Bread
Shop at Robinson Road behind my desk. I won’t
call it my favorite lunch place but it does serves
it purpose and is efficient!
Which ADB member’s workplace would
you like to see next?
I promised Fokko Leutscher from ASM some time
ago to drop by his office. Since I have not been
able to do so I will use this opportunity to share
his workplace with us next.
Voordeligste tarieven vanaf € 22,- per dag
all-in
Snelste Schiphol service • 24 uur per dag • Voordeligste all-in tarieven • Laagste eigen risico
www.bblcarrental.nl
bb&l_2008_ad_194x61.indd 2
12/17/07 5:06:48 PM
21
Vol.18 • No. 9 • November 2008
event agenda
Rihanna!
DATE : Thursday 13 November 2008 at 8:00PM
VENUE : Singapore Indoor Stadium
SYNOPSIS
Multi-platinum MTV and Grammy
award winning artist, Rihanna,
will be bringing her hits to
Singapore this coming November
to complete her quest for world
domination!
Performing for the very
first time here, this talented
Barbadian singer is ready to wow the audiences
with her signature catchy hits and sexy dance
choreography with elaborate stage outfits.
Having sold over 12 million records worldwide,
including chart-topping songs such as, Pon De
Replay, SOS, Unfaithful, Umbrella, Don’t Stop
The Music and the latest single, Disturbia, which
charted in top 10 in several countries, this show is
guaranteed to keep fans rockin’ to the tunes.
So what are you waiting for? Get your tickets
and experience this R&B/Pop phenomenon now!
This is one great performance you definitely
do not want to miss!
TICKET PRICE (EXCLUDE BOOKING FEE):
Standard - S$225, S$185, S$150, S$125, S$95
DURATION: Approximately 90 minutes
Disney Live! presents
Three Classic Fairy Tales
DATE : 18-23 Nov 2008
Tuesdays, Wednesdays &
Thursdays - 7:00PM
Fridays - 3:30PM & 7:00PM
Saturdays & Sundays - 11:00AM, 3:30PM & 7:00PM
VENUE : Singapore Indoor Stadium
SYNOPSIS
A lavish transforming set, captivating choreography, innovative lighting,
breathtaking costumes; these are just some of the ingredients that make up
Disney LIVE!’s latest stage show Three Classic Fairy Tales. Produced by Feld
Entertainment, the production is the first to make its debut in Asia before its
US and Europe opening.
Three Classic Fairy Tales begin with Mickey, Minnie, Donald and Goofy
embarking on an unexpected quest and find a magical storybook hidden in
Mickey’s attic. The four pals curiously turns the pages and discover Snow White
as she searches for her one true love, Cinderella getting ready for her magical
night at the ball and Belle from Beauty and the Beast as she finds happiness in
the most unusual place.
Come join us this school hols for a heart-warming and enthralling Disney
Live! experience now!
TICKET PRICE (EXCLUDE BOOKING FEE):
Standard - S$59.50, S$49.50, S$39.50, S$29.50
DURATION: Approximately 1 hour Interval: Approximately 15 minutes
Kylie Minogue: KylieX2008
DATE : Tuesday 25 November 2008, 8:00PM
VENUE : Singapore Indoor Stadium
SYNOPSIS
After wowing audiences and critics across the UK and Europe
with the KylieX2008 Tour which kicked off in Paris in May 2008,
Live Nation Asia is excited to announce Kylie Minogue one night
only performance in Singapore on 25 th November 2008.
“A show not to be missed”, the KylieX2008 Tour is an enormous US$16million production
that has already traveled to more than 21 countries across the UK and Europe. More than
half a million people have seen the show and been wowed by Kylie’s performance, her first
class production and her dazzling Jean Paul Gaultier wardrobe.
Quoted by Kylie, “The eclectic mix of sounds on X is afforded me the opportunity
to explore and develop a new live show that is fresh, exhilarating and innovative. After
two years of celebratory tours, KylieX2008 is a look to the future but definitely includes
favorites alongside the new”
“As a production, this show certainly takes some beating. From the moment that Kylie
first appeared. Floating high above the stage … to the final flourish of I Should Be So Lucky,
delivered to an audience engulfed in golden confetti and gaily colored balloons, the cast
of acrobat/dancers, musicians and behind the scenes technicians never missed a trick.”
The Times, London
The heroic star who has firmly set her cancer battle behind her, proved she is the
undisputed queen of the pop landscape with her KylieX2008 tour. She is back and better
than ever!
“Minogue reinvents herself as the ultimate 21st-century girl…..Pop is the highest of the
arts, because it encompasses all the others.. (and Kylie) is the ultimate practitioner of this
ultimate discipline.. (and) on the issue of her supremacy, I won’t give an inch…Kylie is actually
a pop genius.. The show (sets) a new standard for state-of-the-art mise-en-sc 讥 .. It’s
Kylie’s mortality, her humanity, which elevates her above, say, Madonna. As she accepts
flowers from the big boys and kisses from the little girls, she exudes easy charm.”
THE INDEPENDENT ON SUNDAY – Sunday 13th July – U.K.
TICKET PRICE (EXCLUDE BOOKING FEE): Standard - S$550, S$375, S$250, S$150, S$100
DURATION: Approximately 120 Minutes
Manic Street
Preachers
DATE : Monday 24 Nov 2008, 8:00PM
VENUE : Fort Canning Park
SYNOPSIS
M a n i c S t r e e t
Preachers are
a band widely
recognized as a
national treasure
in the U.K.
They have
released eight hit albums (spawning
twenty-six Top 40 singles), and have sound
tracked hundreds of thousands of lives.
A band that has made people read,
think and articulate: their questing
intelligence, often married to controversy,
has preserved them as multigenerational
figureheads.
Fans should not miss this once in a
lifetime opportunity to see the Manic
Street Preachers perform Live for the first
time in Singapore at Fort Canning Park on
November 24 th !
TICKET PRICE (EXCLUDE BOOKING FEE):
Standard - S$95, Event Day - S$110
DURATION: Approximately 2 hours
22
Vol.18 • No. 9 • November 2008
Embassy Info
Public holidays 2008
Hari Raya Haji: Monday 8 December
Study in Europe
The Embassy of the Kingdom of the Netherlands is participating in:
Study in Europe (Education Fair)
Saturday, 6 December 2008
Hilton Hotel Singapore
581 Orchard Road
11 am - 5 pm
www.studyineurope.sg
AANKONDIGING
Uit een klanttevredenheidsonderzoek kwam naar voren dat de lange wachttijden aan onze
balie én het feit dat men niet in het Nederlands te woord werd gestaan als negatief werden
ervaren.
Met ingang van 1 november 2008 zal dientengevolge -vooralsnog op proef- een aparte
consulaire balie ten behoeve van de Nederlanders worden geopend.
De balie zal op werkdagen geopend zijn van 09.00 – 13.00 uur en u zult te woord worden
gestaan door een Nederlandstalige medewerkster: Suzanne van Duuren.
Met deze uitbreiding van de capaciteit zal de gemiddelde wachttijd voor consulaire diensten
verder worden verkort. Met ingang van 1 november 2008 zullen daarom alle consulaire
balies ’s middags na 13.00 gesloten zijn.
Mocht u naar aanleiding hiervan nog vragen hebben neem dan gerust contact met mij op.
De Ambassade is bereikbaar op telefoonnummer 6737 1155 of via de e-mail op sin-ca@
minbuza.nl.
Sander Jacobs
Hoofd Consulaire Zaken
23
Vol.18 • No. 9 • November 2008
Association Info
New Members
Antoine Wijsman, KPMG
Arjan van de Merwe, IHC Hydrohammer
Camiel Frijlink
Iwan Hoo, KPMG
Jaap Borst, Tata Steel
Maurice Steijger, MTU Asia
Milou Reinders
Wilco de Vos, CB&I Lummus
Leaving Members
Axel Martens, Europhia
Axel Tuk, BP de Silva
Hans Reinigert, Svitzer Wijsmuller
Hielke Booijink, TNT
N O T I C E
To all former and current students
from the Leiden University
The famous “Cleveringa- Meeting” will
again be held in Singapore on 28 th of
November 2008, at Family Hofman’s
residence, 2 Deal Road.
Please confirm your attendance to:
Carlo.van.den.Akker@NXP.com
MEMBERSHIP FEE 2009
The ADB has started the process for next year’s subscription fee.
You are kindly requested to arrange payment at your earliest convenience, at the
latest before the 31 st of December 2008. Payment can be made as follows:
1. By crossed cheque made payable to: “Association of Dutch Businessmen”,
and send your cheque to Association of Dutch Businessmen, c/o 22 Camden
Park Singapore 299814
Please state your name on cheque.
2. In cash and send/deliver to/at for the attention of ADB, c/o 22 Camden
Park, Singapore 299814
3. By internet
Bank name : Standard Chartered Bank, Battery Road
Benificiary : Association of Dutch Businessmen
Account # : 01-0-837759-8
Branch : 001
Bank code : 7144
Please make sure that your name will be stated on our bank statement.
Your prompt payment will be appreciated.
N.B.: Cancellation of your membership must be received in writing (by email)
before 31 st of December 2008, otherwise payment of full membership fee will
apply for calendar year 2009!
November event
aDB members only
Integrated Solutions for the Shipping
and Oil & Gas Industry
Hans van der Vlugt is Senior Vice President for Pareto
Securities Asia Pte Ltd. Pareto is a leading independent
player on the Singaporean, European and Norwegian,
market for financial services to the shipping and oil &
gas industry that include:
• Corporate Finance
• Asset Brokerage (ships & rigs)
• Project Financing
• Securities Brokerage
During this event, Hans will give a background of the
shipping and offshore oil & gas markets to provide an
insight into how Pareto meets modern day client demands
in a way that distinguishes Pareto from its competitors.
Date : 10 November 2008
Drinks : 19:30 hrs
Lecture : 20:00 hrs
Venue : Hollandse Club, Main Hall
Due to an increased
demand from clients for
integrated services Hans’
activities consist of a
combination of traditional
finance solutions and
unconventional banking
services.
24
Vol.18 • No. 9 • November 2008
Indian colonial antiques - Past Perfect Collection stands to offer
an unrivalled choice of antique furniture dating from the British,
Dutch and Portuguese era in India. Every piece features the
romance of colonial European style and outstanding Indian
craasmanship. Admired for their prized materials, rarity and
exotic decoration, these pieces add character to your home as they
silently speak to you of a bygone era.
It is truly an amazing experience to own such treasure of the past.
We welcome you to view our collection; there is a heirloom waiting
to be relocated!
Venue:
480 River Valley Road Singapore 248365
T: +65 6737 3078 | www.pastperfect.sg
Hours:
Tue to Sat - 10am to 6.30pm | Sun - 11am to 5pm
Closed on Mon and PHs
A Perfect Fit Exudes Professionalism
We carry the widest range of exclusive fabrics for
mens’ and ladies’ clothes.
Made to measure within 24 hours
Main branch: 442 Orchard Road #01-12A Orchard Hotel Shopping Arcade Singapore 238879 Tel: +65 6737 6474
2 nd branch: 63 Market Street #01-01 (Raffles Place) Singapore 048942 Tel: +65 6533 7004
Fax: +65 6732 5585 Email: info@maharajas.com.sg Website: http://www.maharajas.com.sg
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