MBR Issue 24 - Oct-LOW RES


Issue 24October 2016


cover story

Growing the shield brand

Interview with Marc Anastasi,

Chairman, SHIELD Consultants Ltd




talking point Speaking out for what you believe in

Sir Richard Branson on the responsibility of leaders and influencers

exclusive Time to do things properly

Exclusive by Howard Bilton, Chairman of Sovereign Group

exclusive Innovate or Stagnate

An exceptional article by HH Sheikh Mohammed Bin Rashid Al Maktoum,

Ruler of Dubai

Newspaper Post

Malta Business Review



Malta Business Review





Success isn’t just being in the right

place at the right time, it’s knowing

the right people.

Over the last 150 years, we have

created a far-reaching network by

building lasting client relationships

in over 60 markets.

With connections in some of the world’s

highest growth markets, our Commercial

Relationship Managers are well placed

to support your business’s local and

international banking needs.

Talk to us today to see where our global

network could take your business.

Call 2380 8000 or visit


Approved 2 and issued by HSBC Bank Malta p.l.c.,116, Archbishop Street, Valletta VLT1444. Regulated by the Malta Financial Services Authority.

www.maltabusinessreview.net 3

Malta Business Review

Malta Business Review




Interview with Marc Anastasi,

Chairman, SHIELD Consultants Ltd


MBR Publications Limited


Martin Vella

teChniCaL advisor

Marcelle D’Argy Smith

saLes direCtor

Margaret Brincat





Issue 24October 2016

TALKING POINT Speaking out for what you believe in

Sir Richard Branson discusses the responsibility of leaders and


EXCLUSIVE Time to do things properly

Exclusive by Howard Bilton, Chairman of Sovereign Group

EXCLUSIVE Innovate or Stagnate

An exceptional article by HH Sheikh Mohammed Bin Rashid Al

Maktoum, Ruler of Dubai

Newspaper Post

Jacqueline Muscat


Call: 9940 6743 or 9926 0163/4/6;

Email: margaret@mbrpublications.net

or admin@mbrpublications.net


HH Sheikh Mohammed Bin Rashid Al Maktoum;

Howard Bilton; Sir Richard Branson; Antoine

Bonello; Cory Crosland; George Carol; Jean Paul

Demajo; Katia Knox; Kevin Rapinett; Julian Tang;

sPeCiaL thanks

DAKAR Software; DOI; eie Educational Group;

HSBC; Ministry of Finance; Ministry for Gozo;

Ministry For The Economy, Investment And

Small Businesses And The Ministry For

Competitiveness; Digital, Maritime And Services

Economy; LinkedIn; PN Media; The Sovereign

Group; MACM; Sovereign Group; UN News


Print ProduCtion



Highland Apartment - Level 1,

Naxxar Road,

Birkirkara, BKR 9042


+356 2149 7814

quote of the month

Let every man be respected as an individual and no man


Albert Einstein


6 growing the shield brand

Interview with Marc Anastasi, Chairman, SHIELD Consultants Ltd.

talking point


8 Speaking out for what you believe in

Sir Richard Branson, adventurer, philanthropist, and now motivational speaker

discusses the responsibility of leaders and influencers


16 Time to do things properly

Exclusive by Howard Bilton, Chairman of Sovereign Group, one of the world’s

largest consultancies specialising in the provision of offshore trusts and fiduciaries

18 Innovate or Stagnate

An exceptional article contributed by HH Sheikh Mohammed Bin Rashid Al

Maktoum, Vice President and Prime Minister of the United Arab Emirates and

Ruler of Dubai



Including interview with David Abela, MD at Eurobridge Shipping Ltd (P.24)


your perfect atmosphere

Continental Cars Ltd.







30 DataByte – A journey from our first 30

years into the next 30


DataByte Dynamic Solutions celebrate 30 years of IT

34 Yes I SAID IT, RIP Mobile Apps

Cory Crosland examines The Future of the Mobile Apps

41 Operations, Maintenance, Design &



Our monthly corporate company profile zooms on MEDAVIA

42 Navigating Uncharted Waters at the

Malta iGaming Seminar (MiGS)

November welcomes MiGS gaming conferences set to light up

the International calendar in Malta

47 SiGMA 16

Summit of iGaming Malta – Careers Convention for SiGMA and

Malta Gaming Week

Language & publishing

50 The Road to Publication Success –

Overcoming Challenges…

Julian Tang, Medical Academic writes about using appropriate

English Language content

56 Using Aerial Drones in Construction

Katja Knox tells us why use of aerial drones has become more

commonplace in the construction industry



I have been kind of “incommunicado”

lately with the real world! Reading a

recent blog by Sir Richard Branson, one of

our high profile columnists, whereby he is

calling for UK Parliament to take a second

look at the EU referendum. I could not

agree any further with his statement that:

“Elections and referenda don’t come with

a two-week, open-box return policy.” And,

yes, perhaps they should.

Brexit voters across the UK realised that

they had opened a Pandora’s Box of

negative consequences. And worst of

all, they quickly learned that they had

been repeatedly misled to by the Leave campaign. According to Sir Richard,

“The decision over the UK’s future was based on false promises that pushed a

minority of the UK’s total voting population (17 million out of 46 million) to vote

the way it did. Two years before Brexit will even become reality, according to EU

rules, it is already having massive consequences on the UK economy, and on

society. Brexit has fractured the country more than any other event in recent

memory”. Mr Branson is now leading a campaign petitioning Parliament to take

a second look at the EU referendum and he needs three million signatures to


Sir Richard ends his piece by declaring, “The business world hates uncertainty

and without strong leadership, I worry that the UK’s economy will suffer longterm

damage that is on the verge of going beyond repair. Bold, brave action is

needed urgently.” Does all this remind you of local scenario and politicians, many

of them with their own individual aspirations of power, who need to behave

in a statesmanlike manner more than ever?! By any standards, all the recent

scandals in Malta pale in comparison; it is up to the Maltese to clean up or to

stay complacent. It will not really harm anybody outside very much, except that

they are selling EU passports to all the ‘suspects’, which bothers me to no end.

I am beginning to think that the EU in its current state is a failed experiment.

The expansion to the East, at the time, was a necessary step in view of Vladimir

Putin’s aspirations, as we can see today. Now it is time to reconsider. Maybe

more people rather than the British should push the ‘Reset’ button. This would

also be a way to get rid of some ‘strange bedfellows’.

One of the reasons I have been quiet for long is that I am finding myself in a

spiral with a book I am writing; the more I read, I almost should press the

“Reset” button although the outset was to ‘ask the right questions’, the more

I have found myself too much in the corner of trying to give answers. Anybody

claiming to have them is not living in todays fast changing environment. Many

great economists have done terrific analytics, but fail in their conclusions. And

in Malta, we are paying people in high office and their staff to behave correctly,

and not act absurdly ridiculous, as they have taken oath to serve their people

unconditionally, not irrationally.

We can learn from history to avoid mistakes of the past, but in no way can

we extrapolate that into the future. The environment changes too fast in

order to make any smart predictions. Remember the big study of the Club of

Rome, “The Limits of Growth?”. Mankind is creative and does come up with

corrections, sometimes ‘last minute’. However, in the meantime we have too

many sophisticated fast moving destructive tools so that we are getting to the

limit, at least in my frame of my mind. While observing a young friend of mine

‘rescheduling’ some of her ‘very important’ dates on her Smartwatch, I thought

that maybe she will have it all under control after all. The future is for the young;

we can only stand around as observers as long as we are still around.

So that’s all of my ‘brain-drain’ for this month, hope you enjoy the read.


All rights reserved. No part of this work covered by copyright may

be reproduced or copied and reproduction in whole or part is strictly

prohibited without written permission of the publisher. All content

material available on this publication is duly protected by Maltese

and International Law. No person, organisation, other publisher or

online web content manager should rely, or on any way act upon

any part of the contents of this publication, whether that information

is sourced from the website, magazine or related product without

first obtaining the publisher’s consent. The opinions expressed in the

Malta Business Review are those of the authors or contributors, and

are not necessarily those of the editor or publisher.



Martin Vella

Malta Business Review’s editorial opinions are decided by its Editor,

and besides reflecting the Editor’s opinion, are written to represent a

fair and impartial representation of facts, events and provide a correct

analysis of local and international news.

Agents for:

4 5


Malta Business Review



Malta Business Review

Growing the


Interview with Marc Anastasi, Chairman, SHIELD Consultants Ltd

By George Carol

MBR: Your partner and Managing Director

of SHIELD, John Schembri, recently won

three awards at MBR’s Entrepreneur of

the Year Awards Ceremony, including the

top award. How does this make you feel

as Chairman of such a high performing


MA: Immensely proud! We were up

against several high performing local

and international companies and the

experienced judging panel included some

professional heavyweights. I know John

has worked very hard over the years

with numerous sacrifices made to help

build SHIELD into the professional and

successful company that it is today. The

awards for best male entrepreneur and

overall best entrepreneur are significant

as they are a clear recognition and

measurement from the business sector of

John’s entrepreneurial skills. Considering

that John hails from a military and

not a commercial background further

underscores this achievement. The award

for best CSR entrepreneur of the year is

particularly important for the whole team

as it confirms that the industry recognises

SHIELD in this increasingly important

sector. These awards confirm that the

vision was accurate and the hard work and

perseverance worth it.

SHIELD prides itself in setting the

benchmark for standards within the areas

of business it operates in.

Achieving success

as a team....

MBR: As a Company, where do you

intend to go from this point on?

MA: Not a simple one to answer whilst

respecting the company’s commercial

confidentiality. SHIELD has had a

successful international presence in the

Oil & Gas sector for some years and this

for us is still a growth area we will continue

to pursue. We are actively in negotiations

to expand our operations to set up a

presence in Cyprus in both the Oil & Gas

and Construction sectors. We are also

currently setting up a Joint Venture with an

important Lebanese construction firm to

work on a United Nations project. In Malta,

with the significant construction projects

planned and those currently underway we

are expanding our reach to areas where

we have identified requirements for

competency which compliment and relate

to our core business.

MBR: What challenges does

SHIELD face in pursuing its

growth path within Operational

Risk Management?

MA: Besides the obvious

challenges facing any growing

and expanding company, a

major challenge we will be

facing is sourcing, recruiting

and retaining the professionals

required by a company

operating in such a specialist

area. These professionals come

at no small cost and balancing

the needs of the business

such as growth, financial

management and cash-flow and

opportunities whilst running

projects profitably is another great

challenge SHIELD faces, as is attracting and

retaining quality clients.

We will also see STORM, our very own

bespoke software solutions for operational

risk management, come into its own. This

is an extremely innovative project, possibly

unprecedented, which is gradually shaping

the ORM landscape; of course, we face

challenges there as well.

MBR: There is no doubting that SHIELD

is a market leader in Malta and possibly

in this part of the Mediterranean. What

is the secret of your Company’s success?

MA: The SHIELD team truly believes in and

lives the Company core values: People;

Talent; Ideas;

Ethics and Standards. Persons joining

SHIELD quite simply must buy into what

each of these means to the Company

and what we are about, so clearly the

core values render a strong contribution

to the Company’s success. I would also

add that we are highly dynamic, agile and

extremely innovative. That stated, SHIELD

is also highly quality-oriented and we

strive to continually improve.

MBR: Finally, where do you see SHIELD 5

years from now?

MA: From a local perspective

SHIELD, I believe will retain

and consolidate its position

as a market leader and be

synonymous with Operational

Risk Management. More

importantly, from an

international standpoint I see

SHIELD as becoming a force to

be reckoned with within the

wider Mediterranean region

and internationally, not just

through our own energies and

resources but also by working

with other players through

strategic partnerships and

alliances on major North African

and European contracts. MBR

For further information:


Gwardamangia, Pieta, PTA 1042, Malta.

(+356) 2144 6980



Photo Credit: Kris Micallef www.krismicallef.com

All rights reserved. Copyright © 2016

At the Malta’s Best Entrepreneur of the Year Awards 2016 Cermony;

Marc Anastasi, Chairman, Ing. Patrick John Mifsud, General Manager & John Schembri, Partner and Managing Director of SHIELD Consultants Ltd

6 7


Malta Business Review



FIMBank announces

return to profitability

Significant milestone reached in turnaround strategy

The FIMBank Group has announced a return

to profitability for the first time since June

2014, attributing this achievement to the

continued and successful implementation

of a consolidation strategy adopted in


This emerges from the publication of the

Group’s Interim Financial Statements for

2016, which were published recently. The

Group’s Consolidated Audited Financial

Statements show that for the period

ending 30 June 2016, the Group registered

a profit after tax of USD1.21 million

compared to a loss of USD8.64 million

for the same six-month period in 2015. At

30 June 2016, Total Consolidated Assets

stood at USD1.60 billion, an increase of

11% over the USD1.44 billion reported

at end 2015, while Total Consolidated

Liabilities stood at USD1.43 billion, up by

13% from USD1.27 billion at end 2015.

During the period under review, operating

income rose by 34%, from USD15.88

million to USD21.24 million by end-June

2016. The Group’s operating results

before impairments, down by USD3.01

million, were affected by lower margins

attributable to various factors. Meanwhile,

in another milestone achievement,

particularly in the context of the recovery

efforts which the current management

team set out to implement during 2015,

the level of net impairments continued

its steep descent during this period, down

from USD8.56 million to USD0.19 million

for the six months ended 30 June of this

year. The period under review also saw a

marked decrease in operating expenses

of USD4.50 million, mainly reflecting an

improved cost-management discipline

across the Group.

Commenting on the financial results,

FIMBank Group CEO Murali Subramanian

stated that: “The positive financial

results we have announced reflect

our perseverance in implementing the

turnaround strategy set out in 2015. This

was founded on the need to improve

our origination strategy, harmonise

our product offering whilst looking at

new product opportunities, a marketappropriate

risk appetite, and cost

efficiencies across the whole Group. These

principles provided a platform from which

FIMBank has been successfully stabilising

its performance, growing its loan book and

reversing the negative financial trend by

returning a half-yearly profit”.

The Group CEO explained that the ongoing

restructuring of a number of business

units across the factoring network “will

provide the basis for a steady operating

performance in the months to come”.

Subramanian also highlighted the Group’s

successful approach to the retail depositor

market, thanks to the diversification of its

funding base and a reduction in the overall

cost of funding. He also made reference to

new product offerings during the period,

“which exploited existing expertise, and

aimed at diversifying revenue streams

geographically as well as by sector”. He

concluded by stating that the growth

registered by the Group was supported

by the “rigorous management of the

Group’s different portfolios through an

enhanced governance structure and risk


Commenting on the immediate outlook

for the FIMBank Group, Chairman Dr John

C Grech stated that the Group is “very

encouraged by the profits registered

during the first half of 2016, adding that

“we are confident that this trend will be

sustained throughout 2016”. He referred

to the return to profitability as “an

important milestone and a tangible result,

which we are confident can be sustained

through the effective application of

the sound business strategy we have

embarked upon”. Dr Grech added that

with the support of a strong principal

shareholder such as the KIPCO Group, and

the strong impetus given by the existing

performance-driven team, the core pillars

of FIMBank’s business, namely Trade

Commodity Finance, Forfaiting, Factoring

and Treasury, have the potential to grow

even further in the months to come.

FIMBank’s Chairman stressed that the

achievements reported during this

period “will serve to further reinvigorate

our efforts, and focus our attention on

registering further improvements across

the different facets of the organisation,

including asset origination, funding and

capital management, risk and compliance,

and ultimately, superior profitability and

added value to all stakeholders”. MBR

FIMBank is a leading provider of trade finance, factoring

and forfaiting solutions. We optimise business performance

and support business growth by developing tailor-made

trade finance solutions that provide exporters with

accelerated receivables and importers with extended credit.

Contact us to find out how your business can benefit.

A Global Force in Trade Finance

+356 21322100 fimbank.com


FIMBank p.l.c. is a licensed credit institution regulated by the Malta Financial Services Authority and is listed on the Malta Stock Exchange.

Malta Business Review


Malta Business Review

Speaking out for what you believe in

By Sir Richard Branson

We had a very lively panel discussion

at Virgin Disruptors in London this

week, with lots of healthy debate. But one

of the things everyone was in agreement

on was the need for business people

to speak out when they see inequality,

unfairness and unacceptable issues.

As I said onstage, business leaders and

influencers have a big responsibility to

get out there and tackle problems. If

every business and individual took that

attitude, we could get on top of every

problem. A great example of this in

2016 has been the stand everyone

from Marc Benioff to Bruce

Springsteen took against North

Carolina’s “bathroom” law.

While not claiming to

have all the answers, it

is vital that those who

have the opportunity use

their platform for good.

As Springsteen said when

cancelling his concert in

Greensboro in protest the

“bathroom” law: “It is the

strongest means I have for

raising my voice in opposition

to those who continue to push us

backwards instead of forwards.”

With this in mind, I was proud to see

Virgin Holidays publish the results from

its LGBT travel report into the issues faced

by LGBT travellers worldwide. However, I

was saddened to learn more than one in

three (37 per cent) LGBT travellers have

experienced some form of discrimination

whilst on holiday, with six per cent

experiencing a threat of physical violence

due to their sexuality.

Images from Virgin Holidays

At Virgin Holidays, we believe everyone,

regardless of their sexual orientation or

gender identity, has the right to be whoever

they are, wherever they are. That’s why it is

shocking that in today’s society some of us

can’t even enjoy a simple holiday without

fear of discrimination. It’s fantastic that

Virgin Holidays are doing their bit to raise

awareness around this important issue.

As part of our commitment to addressing

the issues faced by the LGBT community

when travelling, Virgin Holidays will

stage a LGBT equalities conference

in conjunction with international

tourism partners, and focus on

empowering staff, informing

customers, and influencing

partners. Virgin Holidays is

also joining LGBT equality

charity Stonewall, as a

Diversity Champion.

We certainly don’t have the

solution or all the answers,

but we are committed to trying

to change the attitude of the

travel industry and be a proactive

force for change in the LGBT

community. For more information on

the campaign please visit virginholidays.

co.uk/losethelabels. MBR

Courtesy: Virgin Podcast; Virgin Holidays

Recognition + Innovation = Growth + Success

Welcome to Best in Biz Awards,

the only business awards program judged by

members of the press and industry analysts.

Martin Vella M: +356 9926 0162 | martin@mbrpublications.net

10 www.maltabusinessreview.net 11


Friday 25 th November, 2016

Castello Dei Baroni, Wardija, Malta

For further information please contact:

Margaret Brincat M: +356 9940 6743 | margaret@mbrpublications.net

Malta Business Review



Malta Business Review

The Availability of Credit

in the New World Order

By Kevin Rapinett

Kevin Rapinett: “Businesses thrive on good cash flow and well structured financing with appropriate risk mitigation”

The financial landscape before us

today presents a different story

than that of just eight years ago, in

other words, prior to the financial crisis.

Too often, the question is raised that

there is no credit to begin with. The Malta

Business Review invites Kevin Rapinett,

the Head of Corporate Banking at HSBC

Bank Malta, to take our readers on a factfinding

trail and help them figure out

where the money lies.

Banks open for business

We often hear the question: “Are banks

lending?” To me, this is a very strange

question to ask given that lending is a core

business for banks. The initial response

from many when asked why they are

posing such questions is to state that

this is what is often heard in the media

and in social circles. In fact, there have

been various studies on the topic and,

since 2008, the European Commission

and European Central Bank (ECB) have

periodically commissioned surveys on

access to finance, particularly for SMEs.

As a Banker with close to 30 years’

experience, I can share the knowledge

that banks in Malta are lending and

have always been lending. In fact, they

could not survive if they did not.

In 2014, the Central Bank of Malta

published the results of its ‘Survey on

Access to Finance’ which showed that

over 70% of domestic SMEs use bank

credit as their main source of business

finance. In fact, this is much higher than

the average in the EU which stood at 37%.

over the years we have seen a

significant shift from a high

investment economy into a

more service and knowledge

based one

Further, the latest annual reports of

the main domestic commercial banks

clearly prove that there is healthy

lending activity taking place with new

business facilities being sanctioned to

replenish loan repayments.

In spite of a low interest rate

environment, Banks’ assets have still

not grown materially. One of the

reasons for this is that over the years

we have seen a significant shift from a

high investment economy into a more

service and knowledge based one,

which activity is not credit hungry.

Clearly with strong liquidity and a sound

capital base our banks are most certainly

open for business. In fact, Maltese

banks have been ranked number 15 out

of 140 countries for their soundness in

the Global Competitiveness Index of

the World Economic Forum for 2015-

16. However, banks have obligations

to many stakeholders ranging from the

regulators and shareholders to their

customers, staff and the community at

large. Hence, while open for business,

banks will want to attract the right


There are challenges but also


From a bank’s perspective, businesses

demand continued access to financing

at a reduced cost, individuals want

deposits at the highest possible interest

rates, security on their money and easy

mortgage repayment terms. Regulators

are after strong banking institutions

operating in a competitive market,

whereas governments attempt to ensure

that the banks continue to finance

economic activity to generate growth.

Shareholders expect a reasonable return

on their investment and regular dividend


In recent years, global, European, and

domestic authorities have introduced a

large number of new regulations with the

objective of reducing risks and making

the banking sector more stable. These

included anti-money-laundering and

anti-terrorist-financing measures, and

increased “know your client” initiatives

and sanctions monitoring. In November

2014, the supervisory authority for

‘Significant Banks’ – and both HSBC

and BOV are categorised as such – was

migrated from the MFSA to the ECB

under the Single Supervisory Mechanism.

While regulation can of course be

challenging, there are also many positive

effects that this creates for the economy.

The high standards of banking regulation

in the country is fundamental to Malta's

strong credit rating and increases our

attractiveness as a destination for inward


Poor cash flow management,

rather than profitability, is

the primary reason for a vast

proportion of business failures

And the solutions

From a business’ perspective, understanding

why and how banks arrive at their lending

decisions will greatly improve a company’s

chances of success when seeking financing.

The state of preparedness of the company

when requesting funding is crucial, and

the analytics and ambitions story-telling

must converge. Financing structures need

to be aligned to the company’s strategy. I

continue to see quite a few companies

focusing on debt and working capital largely

in the context of survival. Poor cash flow

management, rather than profitability, is

the primary reason for a vast proportion of

business failures.

Banks differentiate pricing for structured

facilities. The lower pricing of trade financing

solutions reflects that these structures are

lower risk for bank's to operate and it also

makes it easier to provide more lending to


HSBC Malta’s Trade for Growth Fund,

of which more than 80% has been lent,

demonstrates that banks are open for


To lend or not to lend

In summary, the Maltese economy

continues to perform well but the material

growth areas have so far not been credit

hungry and many major infrastructural

and construction projects by the private

sector are yet to commence and utilise the

liquidity available on banks’ balance sheets.

So my answer to when someone asks

whether banks are lending: “Yes, banks

are still in business, banks are still open for

business, banks still supply credit to the

economy. However, this lending has to be

done in the right way to support sustainable

growth of the economy and enhance the

country's reputation as a jurisdiction with

the highest standards of regulation.

Credit is flowing freely in Malta, where the economy is performing well above the European

average thanks to strong domestic demand

12 13



Be in a better position to sell or acquire a bank loan for your property




Certain property owners are not in a position

to place on the market or acquire a bank loan

for their property due to an illegality which is

non sanctionable and may have taken place

years back.



Applications will only be accepted for

irregular buildings and structures within the

development boundaries or which in past

years benefitted from a Category B concession

(within the development boundaries).* The

irregular development must not constitute

an injury to amenity.**

The irregularity must appear in the 2016

aerial photographs taken by the Authority.


In 2012, owners of illegal buildings were

then able to lodge a ‘concession’ application

(known as a ‘CTB application’) to be able to

obtain water and electricity services or to

transfer property. Concessions were limited

to specific categories of illegalities prescribed

by law. Nevertheless, a concession was not

tantamount to a planning permission.


An irregular development cannot jeopardise

the ‘comfort, convenience, safety, security

and utility that may be enjoyed within and

around a property or neighbourhood’. When

considering an application, decision-makers

are therefore required to have regard to

privacy distances, safety issues and outlook






This one time opportunity is open for

a 2 years period, extendable for 1 year.




STEP 1: An applicant needs to appoint an

architect to submit an online application.

The application will require the architect

to submit certain documentation (site

plan, drawings of elevations and sections,

photographs and more).

STEP 2: The application is published in the

Government Gazette and on the website

of the Department of Information. The

public is given a 30 day period to submit

any statement of opinion related to the


STEP 3: A report will be drawn up by a

case officer with a recommendation.

STEP 4: A Planning Commission

comprising of 3 members will decide

each application. All decisions are taken in


STEP 5: The Planning Commission decision

is published in the Government Gazette

and on the website of the Department of


STEP 6: The applicant or registered

objectors may appeal if they are aggrieved

by the decision.


An applicant is obliged to pay a minimum

administrative fee of €50 for every

application. Additionally every application

will be subject to a fee, calculated on

the total and combined roofed over

area of each floor of the property being


A 25% surcharge on the fee shall be applied

should the scheme be extended for a third


Applications which are related to

cases already covered by a Category B

concession will automatically have

deducted the fee they had paid the

Authority when they applied for the

concession in previous years.

An application refused by the Authority,

will be refunded 90% of the fee.




No. Any proposed development has

to be applied for either through the

Development Notification Order,

the Summary Procedure or the Full

Development Process application.

This depends on the nature of the

proposed development.




When the Planning Authority receives

an application for a site on which there

is an enforcement notice still in force, the

Authority will safeguard the interests

of all third parties who had submitted a

formal complaint for which a notice had

been issued.

In these cases, the Authority will inform

these same third parties of the submitted

regularisation application and offer them

the option that within a 15 day period,

they are to notify the Authority whether

to be considered as registered interested


Registered interested parties

automatically hold the right to appeal

the Planning Commission’s decision

before the Tribunal.



The Authority on issuing a permission

will still retain the right to impose any

conditions which it may deem necessary,

including, the execution of specific works

within a specified time-frame. Failing to

abide by these conditions will result in the

application being dismissed.

The Authority also reserves the right to

take enforcement action if an application

gets refused.






my ambition as

Fashion Retailer

Fund my business.

Choose beautiful fabrics.

Wow my customers.

Banif Business Accelerate offers me the possibility

of financing my business with minimal security and

advantageous terms. Talk to us today.

Malta Business Review

The SME Transactions benefit from support from the European Union pursuant to the SME Initiative, with funding by the European Union under the ERDF

and Horizon 2020 and by the European Investment Fund and the European Investment Bank.

SME Initiative 2014-2020

“Stimulating private sector investment for economic growth”

Financed by the European Union

European Regional Development Fund

The legal notice together with the schedule of fees may be

downloaded from the Authority’s website www.pa.org.mt.

Terms and conditions apply. Loans are subject to the Bank’s lending criteria. The Bank reserves the right to withdraw the product from the market at its

own discretion. Banif Bank (Malta) plc is a credit institution licensed to undertake the business of banking by the MFSA in terms of the Banking Act 1994.

Registered in Malta C41030 - 203, Level 2, Rue D’ Argens, Gzira, GZR 1368.

www.maltabusinessreview.net 15

Malta Business Review



Malta Business Review

Time to do things properly

With nowhere to hide from the glare of regulators and tax authorities around the world,

Howard Bilton of Sovereign Group is adamant about the need for a pragmatic approach.

Never a day goes by without another

story about tax. Tax reporting,

transparency, avoidance, evasion and,

most recently, aggressive avoidance.

Tax is, in fact, a very simple subject

according to C. Northcote Parkinson, then

Raffles Professor of History at the new

University of Malaya in Singapore, and a

writer for The Economist.

His famous Parkinson’s Law was followed

in 1960 by a study of taxation in all its

forms - trade, property, capital, inheritance

- and the frequent words are ‘blackmail’,

‘complex’ and ‘excessive’.

The only way not to pay tax, he concluded,

is to go where there is no tax.

But modern taxation is more complicated.

The arrival of the US Foreign Account Tax

Compliance Act (FATCA) and the OECDsponsored

Common Reporting Standard

(CRS) means there is nowhere to go.

This has important implications for the

wealth management industry; some

players may be rushing to catch up but for

others there are great opportunities.

The impact of FATCA on financial

institutions is already well underway.

it has proven to be such a headache for

that many firms have decided they will no

longer accept US persons - although the

definition is very widely drawn - as clients;

some banks have even told existing clients

to take their business elsewhere.


Sovereign Group

by Howard Bilton

Going beyond this, the new CRS sets out

rules and procedures for the automatic

exchange of information on financial

accounts beneficially owned by residents

of foreign countries.

While it took effect from January 2016,

the reporting itself will begin in 2017 or

2018, depending on which country one is

referring to.

“CRS will only be a problem for those who

have not correctly reported on their tax

forms by including income in an offshore

structure which is attributable to them”,

says Howard Bilton, chairman of Sovereign


In fact, the challenge for most people as

a result of CRS, is that it will - like FATCA

- be just another layer of complexity

and, inevitably, cost in terms of time and


“It’s going to be lot of filling out forms

which many people won’t really

understand,” says Bilton.

Given that the business model at

Sovereign has been built on transparency,

he can look to the current and future

international regulatory regime with

some confidence.

The firm’s core business is setting up and

managing companies, trusts, pensions,

insurance and other structures to meet

specific personal and business needs.

These include foreign market entry, tax

planning, wealth protection, property

ownership and cross-border business.

Since opening its first office in Gibraltar in

1987, Sovereign is now one of the largest

independent trust firms in the world. It

manages more than 12,000 structures

for a wide variety of clients - companies,

entrepreneurs, private investors and HNW

individuals. Its assets under administration

amount to more than USD5 billion.


Yet there is another ramification of the

new regime which follows the law of

unintended consequences.

just as with FATCA, the arrival of CRS

has put a focus on the role of banks as

gatekeepers between customers and

governments, primarily in terms of tax.

The main difference now,

is only if you haven’t really

been doing things properly

and being fully complaint.

There is now a certainty

of getting caught with the

arrival of CRS.

As a result, reluctance has turned into

rejection in many cases.

In Hong Kong, for instance, Bilton says

that banks are noticeably hesitant to deal

with anything which has a hint of being


This applies to big, medium, and small

businesses alike, he explains, and even to

long-standing customers of who want to

invest outside their home jurisdictions.

“A mainstay of the Hong Kong economy

has been its position as the service centre

for the Far East, and Hong Kong is now

losing business to Singapore primarily


because the banks in Singapore are much

more receptive to international business.

“Indeed”, says Bilton, “banking in Hong

Kong has become more difficult than in

every other international finance centre

in the world, and this is bound to have a

serious impact on the Hong Kong economy

down the road.”

He adds: “The businesses that are being

turned away are refused banking facilities

may not be large, but there are lots of

them and the cumulative effect is bound

to be felt at some stage.”



He praises the work being done by

InvestHK - the department of the Hong

Kong SAR Government responsible for

foreign direct investment, to support

overseas, mainland and Taiwan businesses

to set up and expand in Hong Kong.

“They have got 13 offices around the world

whose sole job is to round up business

from people who want to do business

through Hong Kong”, explains Bilton.

The problem remains, though, that they

too are being frustrated and thwarted by

the fact that businesses which want to

come to Hong Kong are unable to bank


This should therefore be a time for

enthusiastic and intelligent lobbying,

believes Bilton.

“We need to get this debate going at the

front of mind,” he adds. “More talking, more

writing and the more the merrier.” MBR

Creditline: Sovereign Group

Howard Bilton is Chairman of The Sovereign Group – one of the world’s largest consultancies specialising in the provision of

offshore trusts and companies and associated international tax advice. He holds joint honours degree in classics and law from the

University of Keele and is qualified as a Barrister and called to the Bars of both England/Wales and Gibraltar. He regularly lectures

throughout the world on tax and offshore related subjects, giving presentations lasting anywhere between 45 minutes and 3 days

and has contributed numerous articles and chapters to relevant technical publications. Howard is a visiting non-resident professor

at Thomas Jefferson School of Law in San Diego, where he assists with their LLM and Masters degrees in International Tax and

Offshore Centres. In 2003 he formed The Sovereign Art Foundation Limited which is a charity registered in Hong Kong and the

UK dedicated to raising money for worthy artistic causes through its Asian and European art prizes. Between them they have raised

over US$4 million. See www.SovereignArtFoundation.com. He is the principal of Hillvalley Limited which makes wine in Portugal

sold throughout the world under the Howard’s Folly brand name.

16 17


Malta Business Review

Exclusive: Innovation & Leadership

Exclusive: Innovation & Leadership

Malta Business Review

Innovate or Stagnate

By HH Sheikh Mohammed Bin Rashid Al Maktoum

The key to corporations’ rejuvenation,

civilisations’ evolution, and human

development in general is simple:

innovation. I am always amazed when

governments think they are an exception to

this rule. Innovation in government is not

an intellectual luxury, a topic confined to

seminars and panel discussions, or a matter

only of administrative reforms. It is the

recipe for human survival and development,

the fuel for constant progress, and the

blueprint for a country’s rise.

The answer lies in honing our children’s

creativity, and providing them with the

analytical and communication skills needed

to channel it toward productive ends.

countries like Singapore, Malaysia, and

South Korea has been their strategic

decision to shift public expenditure away

from hard infrastructure and toward the

“soft” infrastructure needed to build and

sustain a knowledge economy. Likewise,

the British government spends markedly

more of its budget on such intangibles

than on tangible assets.

upgrade their systems and services.

They empower citizens to cultivate their

collective energy and develop their

potential, and thus become drivers of their

countries’ growth and advancement in the

world arena. Above all, they value human

minds and help people become better

guardians and builders of our planet.

HH Sheikh Mohammed Bin Rashid Al Maktoum,

Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai

Companies, like people, grow old.

They start life small and eager

to survive, fuelled by youthful

energy and fresh ideas. They compete,

expand, mature, and eventually, with few

exceptions, fade into obscurity. The same is

true of governments: they, too, can lose the

hunger and ambition of youth and allow

themselves to become complacent.

Consider this: only 11% of the Fortune 500

companies from 1955 still exist today, while

the average time that companies stay in the

top 500 has fallen from seventy-five years

to fifteen years. In this age of rapid change,

those who lag behind become irrelevant– in

a heartbeat. Countries whose governments

grow old face the same fate as outdated

companies. Their choice is simple: innovate

or become irrelevant.

The race for national competitiveness

is every bit as fierce as the competition

among companies in the marketplace.

Countries compete for investment, talent,

growth, and opportunity in a globalized

world, and those that are pushed out of

the running surrender the greatest prize of

all: human development, prosperity, and

happiness for their people.

To avoid this fate, governments must focus on

what really matters: how to be like the 11%

of companies that have remained, through

the decades, in the top 500. The lifecycle

of companies should teach governments

that the secret of eternal youth is constant

innovation – seizing opportunities and

behaving like the dynamic, entrepreneurial

companies that are defining today’s world

and shaping its future.

Countries whose governments

grow old face the same fate

as outdated companies. Their

choice is simple: innovate or

become irrelevant.

The first key to business-like innovation in

government is a focus on skills. Top-tier

companies continuously invest in their

employees to provide them with the right

skills for the marketplace. Governments

must do the same, by constantly upgrading

skills and nurturing innovation – among

their own employees, across key sectors

of the economy, and at the foundations of

the education system. Governments that

fail to equip new generations with the skills

needed to become leaders for their time

are condemning them to be led by other,

more innovative societies.

A United States Department of Labour

study found that 65% of children currently

in primary school will grow up to work in

jobs that do not exist today. Another study

at Oxford University found that 47% of job

categories are at high risk of ceasing to exist

because they can be automated through


So, how do we prepare our children and

future generations for such times? How do

we equip our countries to compete, not only

today, but in the coming decades as well?

The second key to transforming

governments into engines of innovation is

to shift the balance of investment toward

intangibles, as in the private sector. Whereas

more than 80% of the value of the Standard

& Poor’s 500 consisted of tangible assets

40 years ago, today that ratio is reversed:

more than 80% of the largest companies’

value is intangible – the knowledge and

skills of their employees and the intellectual

property embedded in their products.

When a culture of creativity

takes root, people feel inspired to

run further with their ideas, to

aim higher with their ambitions,

and to pursue bigger dreams.

Governments, too, should think

strategically about shifting their spending

away from tangible infrastructure like roads

and buildings, and toward intangibles like

education and research and development.

It is no secret that the US and Europe,

combined, spend more than $250 billion

of public funds annually on R&D to

maintain their leading positions. Likewise,

a key driver of rapid development in

Most of today’s transformative

companies are well known for having an

innovative corporate culture and working

environment that inspires and empowers

employees. Governments that set an

example for innovation have the power to

implant a nationwide culture of creativity.

When such a culture takes root, people

feel inspired to run further with their

ideas, to aim higher with their ambitions,

and to pursue bigger dreams. That is how

countries that encourage innovation take

the lead – and stay there.

To sustain innovation, businesses must

attract and retain the most creative and

productive minds. In this age of global

mobility, countries, too, go head to head

in the battle for talent. Global cities

compete to provide an ideal life and

work environment for innovators, and

to harness their creativity to become

stronger and more competitive still.

Innovative governments do the same

thing on a national scale. They attract

talent, perform efficiently, and continually

For governments, innovation is an

existential question. Only those that

sustain innovation can drive change in the

world, because they are the governments

that never grow old. MBR

Creditline: The Minister of State for Foreign Affairs,

The Minister of Foreign Affairs & International

Cooperation, United Arab Emirates; Projectsyndicate.org;



“The Government’s job is

to achieve happiness for

people.” ~Mohammed bin

Rashid Al Maktoum

HH Sheikh Mohammed

bin Rashid Al Maktoum

became UAE Vice

President and Prime

Minister in 2006. His

leadership vision has put UAE citizens’

empowerment, welfare and happiness at the

core of all reforms and initiatives implemented

since his accession. Sheikh Mohammed

has been the driving force behind the

transformation of modern Dubai into a major

global city and the establishment of the UAE

on the world stage. Today Dubai stands as a

major centre for international trade as well

as tourism and is home to over two million

people representing over 220 nationalities.

18 19


Malta Business Review


Malta Business Review

Lufthansa Technik will service EasyJet aircraft fleet in Malta

Prime Minister Dr Joseph Muscat

presided over the signing ceremony

of an agreement between EasyJet and

Lufthansa Technik. The British low-cost

airline will start bringing its aircraft fleet,

which consists of more than 200 carriers,

to be serviced in Malta.

He said that the Government, through

the Malta Enterprise and Malta Industrial

Parks, has shown that is committed

to promoting the competitiveness of

the aircraft maintenance repair and

overall industry and thus promoting its

growth and development. Dr Muscat

explained that the Government has done

so concretely in terms of assistance by

the responsible agencies, providing the

necessary infrastructure and by investing

in technical education and training of the

Maltese workforce.

Dr Muscat said that economic results

and sustaining a strong economy are

not automatic. He said, that through



to deliver!

such investments and sound decisionmaking

that the economy will continue

to outperform its competitors. He added

that only a few years ago, the European

Commission forecasted growth at less

than 2% and described our economy as

one that holds back growth. Today, Malta’s

GDP grew by 5.3% and the first quarter

of this year was the sixth quarter in a

row that the Maltese economy expanded

by more than 5%. He explained how the

latest economic European Commission’s

forecast titled Malta as having strong

investment and household consumption.

European officials are forecasting a

growth of 4% GDP, double what they were

calculating three years ago. MBR

Courtesy: OPM/DOI

International Freight Forwarding Solutions

We deliver every time.

GFS Building (MRA009) Industrial Estate,

Marsa, MRS 3000 - Malta

Tel: +356 2122 1229 F: +356 2122 3076

E: info@gfs.com.mt


road sea air

+356 21 221 999


20 21


Malta Business Review

transport & logistics


supporting triathlete David Galea in

his participation at one of the most

gruelling Ironman competitions,

KONA 2016 in Hawaii. These past

few years have seen Express Trailers

forge a very close relation with sport.


CEO of Express Trailers explains

what drives a logistics company

towards supporting sport.

MBR: Why has Express Trailers chosen to

support sport in Malta?

FA: We do not support any sport but we

strike partnerships with those athletes

who mostly train on the road. Our

company’s operations are mainly based

on road transport and this has sensitized

us to the fact that people may perceive

us as a disruption on the roads. Runners

and cyclists on Malta’s roads are equally

vulnerable and therefore, we feel that our

support towards these athletes can be a

way of promoting more responsible road

sharing with the public.

MBR: How does all this fit in with your

company’s corporate agenda?

FA: First there is CSR. We fully acknowledge

our duty towards the populace, the planet

and all stakeholders as these are also our

longer term investment that will make

our company endure. Secondly, we also

look at our own employees who play an

important role in securing the growth of

our business. We want them to look at

athletes as an inspiration in their journey

of self-development. We do not just

expect them to deliver. We wish for them

to become better persons because better

and stronger persons lead to a better and

stronger company.

MBR: Which sport have you supported

over the past few years?

FA: We have built a very strong relationship

with the Zurrieq Wolves Athletic Club

and this year will see us sponsoring their

Zurrieq Half Marathon events for the

fourth time. Meanwhile however, we have

also supported a team of four climbers in

their challenge to climb Mount Everest, we

provide logistical suppot to the LifeCycle

team in their annual trips round Europe

and this year, we also commenced a

three-year sponsorship with the Mellieħa

Athletics Club and the Mosta Cycling Club.

Express Trailers’ Support To

Sport Reflects Its’ Attitude

Towards Business

MBR: This month saw you sponsor

triathlete David Galea’s trip to Kona


FA: Yes. We have supported David through

logistics and his trip to Kona in Hawaii.

Athletes from all over the world compete

in various qualifying events to be able

to enter this competition but only 2% of

them manage to qualify. Qualifying for

a competition like Kona 2016 is already

an achievement in itself and this is why

Express Trailers has agreed to sponsor

David Galea’s trip to Hawaii by supporting

the logistics involved in getting him and his

equpment all the way to Kona.

At Express Trailers, we want

Endurance to shine as a

recurring theme

MBR: How does this latest sponsorship

fit in with your overall company


FA: At Express Trailers, we want Endurance

to shine as a recurring theme. We

constantly strive and manage to meet the

high standards we have reached but it

takes stamina to retain the levels of service

that secure the business. Therefore,

sponsoring an athlete like David who has

shown great stamina to qualify for KONA

2016 is an inspiration to us all, and to our

enduring quest to deliver trust. MBR

Whatever the cargo,

Wherever the destination,

No matter the logistic risks,

We can be trusted.

Express Group Malta

Velbro House, Qormi Road,

Luqa LQA 9040,


We are Orange.

We Deliver Trust!



Tel: (+356) 21 242311

Email: info@expressgroup.com



Malta Business Review



Malta Business Review

making sure the market knows about these

services on offer. Success is measured by

growth, but I am not talking about just

profits and volumes. Growth in team spirit

and customer satisfaction come first and


MBR: What strategy have you

implemented to grow your business in a

market which is over-saturated and highly


DA: My strategy is to invest in people since

companies are made up of people. I truly

believe that my team is the best there

is so I make sure that besides attractive

remunerations and bonuses, they have

the best possible environment where they

work. As we speak, we are in the process

of moving into a new start-of-the-art office

which was designed with the Google

offices in mind where no expense is being

spared towards staff welfare. I also take

in consideration staff working with our

suppliers and make sure that they have the

same dedication towards our work as do my

own as only this way I can make sure that

the service we offer is always top-notch.

Growth in team spirit and

customer satisfaction come

first and foremost

Dedication & Hard-work

by George Carol

MBR interviews David Abela, Managing Director at Eurobridge Shipping Ltd,

leading freight forwarders, as the company is in the midst of moving into a

new start-of-the-art office which was designed with the Google offices in mind.

MBR: Would you discuss your role at

EuroBridge and your main areas of focus?

DA: As the Managing Director of a company

which has grown exponentially over the last

few years, my role has changed constantly.

Up till a few years ago, I used to oversee

all the day-to-day operations and sales

however this is not possible anymore so

I now tend to concentrate on Business

Development and Marketing. This has

been made possible thanks to the great

team I have working together with me to

continue moving our company forward.

MBR: What were the key career

experiences that really shaped the way

you are now as a leader?

DA: I took over the company when I was

very young at 22. At the time I thought

that my energy was enough to propel

the company to great things immediately

however my inexperience was making sure

I kept my feet on the ground! In fact, I can

say that the errors I made along the way

(and new ones that I still do) have been

my best teachers. Nowadays, I tend not to

stress on the errors but the achievements

of all the team and although I am the leader

of this team, I am never bossy (or at least

try not to be!)

MBR: What are the key priorities in your

role and how will you measure the success

of your efforts?

DA: My only key priority at work has

always been to find new ways to give our

customers the best possible value for

money service on the market. This means

most of all keeping your own team united

and happy as only that way they will give

their utmost to keep the customers happy.

Secondly, it means developing new services

to anticipate the market’s needs and

MBR: What would you say are the

essential qualities for success in your

industry today?

DA: Dedication and hard-work! From my

experience, not a lot of people understand

what one needs to go through nowadays

to be successful in business. Over the last

sixteen years, there were weeks where I

spent over 70 hours at work whilst at the

same time I had to always remain sharp and

make sure we move forward. There were

bumps along the way but with the help of

my family and my team at work, we are still

here and growing! MBR


David joined EuroBridge

as a Customs Clearance

Executive in June 1998

and was promoted to

Operations & Marketing

Manager in December

1999. In August 2000

he became its Managing

Director. Previously, he

worked with a local transporter meaning

he’s been involved in all sections of the

Freight Forwarding Industry. This together

with achieving a Diploma in Transport

and Logistics Studies (MCILT) has made

him extremely knowledgeable of the sector

throughout these years.




Malta Business Review


Malta Business Review

Calculate transport emissions

with the DHL Carbon Calculator

New online application delivers live data-based emissions calculation for

almost all shipment sizes and modes of transport for local, national and

international deliveries.

DHL, the world’s leading logistics company,

has today launched the DHL Carbon

Calculator. With the introduction of the

Carbon Calculator, DHL now allows its

customers to calculate, free of charge,

transport-related emissions for almost all

shipment sizes and modes of transport. The

calculation is carried out online based on

intelligent algorithms. “While many other

computational tools provide only a rough

estimate of the transport emissions and the

route, the Carbon Calculator taps into real

logistics data,” explains Kathrin Brost, Vice

President, Green Strategy and Customer

Intelligence at DHL Global Forwarding,

which has tested the Carbon Calculator

together with customers. Those data include

the route to the nearest airport or harbour,

the main leg by air or sea and the “last mile”

in the destination country. To determine

the level of emissions, the DHL Carbon

Calculator uses data from the DHL Carbon

Accounting and Controlling department.

The computational methodology reflects

the recognized Greenhouse Gas Protocol

standards, the European Standard EN

16258 as well as the guidelines of the Global

Logistics Emissions Council.

To calculate the emissions, you simply enter

the sender’s and receiver’s locations, as well

as the weight and volume of a shipment.

Then you select the preferred mode of

transport. Based on your entries, the Carbon

Calculator recommends a shipping route,

which you can modify further. Using this, the

tool calculates the amount of CO2 equivalent

emissions that the transport will generate.

Enquiries are free of charge on the system.

The new Carbon Calculator complements

a number of DHL tools that help customers

understand and reduce the environmental

impact of their supply chains.

With its Green Optimization service, DHL

also offers customized logistics solutions to

help customers reduce GHG emissions and

minimize the environmental impact of their

logistics processes. MBR

DHL Global Forwarding is represented in Malta by BAS LTD.

DHL’s target is to improve carbon efficiency by 30 percent by 2020





deliver ocean cargo solutions

for when flexibility counts.

These allow us to consistently meet the

ever-changing needs of businesses large and

small from sectors including automotive,

consumer products, engineering &

manufacturing, life sciences & healthcare

and technology.

Represented by:

B.A.S. LTD - 25, Air Cargo House,

Triq Ġanni Vassallo, Luqa LQA 1511

Tel: +356 2558 4888

Fax: +356 2167 7102

E-Mail: info@basmalta.com

Web: www.basmalta.com

26 27


Malta Business Review


Rabelink International Freight

(Malta ) Ltd

Shipping to and from overseas can be a

nightmare if you have nobody to guide you

through. Rabelink International Freight

(Malta) Ltd have been doing just that for

more than fifteen years. Rabelink is a name

synonymous with transport in Holland and

after several years of successful operations

between Holland and Malta, Rabelink

International opened a new branch in

Malta in 1999. Today the company offers

shipping services worldwide, including

but not limited to Freight Forwarding , Air

Cargo and Courier Services , Weekly Trailer

and Container Shipments , Local Clearing

and Delivery to door, Overseas Removals

and Packing, as well as Warehousing .

A recent addition to the list is assisting

individuals with international online


Rabelink International offer a personalised

service with competitive prices – an

element that is essential in today’s fast

moving and price conscious market. Being

a small company, personal assistance is

guaranteed, ensuring that every client

feels they are the best client. Such a

hands-on service is ideal for the individual

or family looking for a hassle-free move to

a new destination.

To find out more about how Rabelink

International can help guide you through

your shipping requirements - be it business

or personal, large shipments or small, or

even relocating home or offices – email



• World Wide Shipping

• Weekly Trailer & Container Services

• Freight Forwarding

• Local Clearing & Delivery

• Overseas Movers & Packers

• Air Cargo Services

• Warehousing


52, Triq ix-Xwieni, Albert Town, Marsa, MRS 1065, Malta (+356) 99245 752 info@rabelinkmalta.com


Malta Business Review


Malta Business Review

DataByte is a software and IT solutions

house in Malta that is geared to give you the

competitive edge in today’s business world.

We specialise in creating custom solutions

built from the ground up with your specific

business requirements.

DataByte - a Journey

from our first 30 years into

the next 30 years!

30 years in IT is indeed a lifetime. For those

who have shared this journey like DataByte

have, we can boldly say how fortunate they

were to have watched IT unfold before

their very eyes as they researched and

that they develop and serve their clients in

a scalable, robust and reliable manner. As

technology moves away from workstation

application installations DataByte put itself

firmly in this new framework.

laboured with all the diverse technologies

“What has made these highly dynamic

through this extremely colourful and

30 years possible is primarily our Human

amazing journey in time.

Resource content and competence. Over

Founded in 1986, DataByte’s primary

commitment has been that of assisting

the years we have employed and worked

with a lot of software development

organisations by enhancing their specialists who have made us proud of our

competitive edge through IT platforms achievements with our clients” explains

and software systems built around their Frederick Micallef, Founder and CEO of

specific needs.


In 30 years of developing software “What has always defined DataByte was

solutions, DataByte has built a line-up of its potential to leverage its specialization

software products powered by various by creating custom software solutions

technologies and applicable across varied bearing our customers’ business

business sectors in both the public and requirements. We are a smaller-sized

private sectors.

organisation and this helps us be flexible

Software production has passed through

a myriad of development environments

and methodologies to bring us to present

day challenges. The cloud is the current

platform for future applications and

DataByte are now very much on board.

For the last years they have built their own

platform to take any suite of applications

and understand better the needs and

constraints of small and medium-sized

setups like ours. It is part of our mission

to deliver solutions that are effective, easy

to use and affordable, followed by reliable

and efficient support. These, we feel, are

the driving forces when deploying our IT

solutions” added Frederick Micallef

This landmark 30 year anniversary event

is now all about setting the pace for the

future as DataByte endeavour to use

technology to earn local and international

market share with more exciting and

innovative products. These are truly

exciting times for software deployments.

The latest of software systems from

DataByte - branded Workforce is set to

mark this anniversary and is a solution

aimed for Human Resources Management

and integrates crucial modules into a

seamless suite.

DataByte is also building on the past 25

years’ market experience with deploying

a Managed Warehousing product for

third party logistics companies. Today,

warehousing and logistics have evolved

into a multi-modal operation that is too

complex to administer only through

human resources. This is when a sound

data management system can deliver the

efficiencies sought by logistics operators.

With these latest technology products

DataByte feels it will attract a wide

spectrum of companies that it feels are

in need of its latest software offerings

while remaining active in the bespoke

development front. MBR



DataByte Ltd

Capital Business Centre, Block A, Level 2, Taz-Zwejt Street San Gwann SGN 3000 Malta

With 30 years’ experience in providing

software solutions to the public and the

private sector, we are well placed to

understand organisational dynamics.

Besides the legacy systems and the

more recent and varied applications, we

are very much aware of the relevance

to business of the HR management

component and with this in mind, we

have created and put on the forefront

a suite of software systems with HR

management as our prime objective.


Tel: +356 23456 300 | Email: info@databyte.com.mt

30 www.maltabusinessreview.net 31

Malta Business Review


Looking after people

Extra-oral before treatment

Dental treatment plans vary considerably.

Besides the main aim and objective of

good aesthetics and functionality, other

goals may include comfort, hygiene

maintenance and having fixed teeth.

The manner of achieving these desirable

goals varies with the nature of treatment

provided. The best way to address a

patient’s complaint is to have the right

goal for that patient.

Source of common complaints:

1. Food packing:

• Old crowns/bridges

• Receeding gums leaving widening

interdental spaces

• Ill-fitting Dentures

• Missing teeth

• Crowded teeth

2. Bad breath/Halitosis:

• Gum disease

• Poor dental hygiene

Intra-oral view before treatment

• Food packing

• Dental Caries

3. Pain

• Gum disease

• Dental caries

• Poorly fitting dentures

• Inflammatory lesions including tooth


4. Aesthetics

• Old crowns/bridges

• Visible metal of fillings, denture

clasps, old-design crowns/bridges

• Worn down teeth

• Minimally visible teeth

• Crowded/spaced or protruded teeth

5. Lack of confidence in smiling

• All of the above

You may notice that many of the above

complaints are from the same source

however the way of addressing them may

Extra-oral view after treatment

vary considerably in costs, time and nature

of treatment. Pinpointing and addressing

the right complaints will lead to a satisfied

patient. Addressing the dentists wishes as

opposed to the patients wishes will lead to

disaster and hence an unsatisfied patient

never to return. If us dentists do not listen

attentively to our patients then their needs

will not be fully addressed. Speak up and

ask your dentist!

Executed treatment plan:

1. Consultation

2. Removal of old crowns and upper


3. Preparation and Impression for new


4. Fitting of new fixed-movable


Total time-frame: 2weeks

5. Review appointments at 1 week and

3 months


Dr Jean Paul Demajo

Dental and Implant Surgeon, Trained in

London working in private practice in Malta

A Case Study

Middle aged lady wishes to restore her smile. Having had a lifetime of dental

treatment, also involving the loss of many posterior teeth, she wishes to restore her

smile. This lady also has a problem of severe tooth-wear on her lower remaining

teeth. Dental implants were not an option here due to expense and timeframes.

Most of her upper dentition already had crowns while her lower remaining teeth

could have benefitted from crowns. Her options were conventional dentures or fixed

movable bridges. This lady chose to have her crowns replaced with new ones, have

her lower teeth restored to their original dimension and have her missing teeth fit

onto a fixed-movable bridge. She also treated herself to having all her new teeth

constructed in porcelain alone.


Malta Business Review

DEBATE & analysis

debate & analysis

Malta Business Review

Yes I Said It,

RIP Mobile Apps

While many businesses are still in the

learning phase of mobile apps, the ground

is shifting. Changing consumer behavior

and technology improvements are spelling

out the end of the app era in the next few


You’ve likely seen some of the stats… the

average smartphone user downloads zero

new apps per month, between 80 and

90% of apps are downloaded, used once,

and then deleted. Eighty-five percent of

smartphone users spend almost all of

their time using just 5 apps. Major apps

(Facebook, Instagram, YouTube, etc) saw a

20% drop in downloads from May 2015 to

May 2016. The list goes on...

Furthermore, companies looking to

build apps also have to consider multiple

ecosystems (Android, iOS, etc.) and

platforms (phone, tablet, etc) which leads

to expensive development costs and

ongoing maintenance. Most engineering

teams now have dedicated groups to each

ecosystem -- creating redundancy and

unnecessary expense.

Finally, consumers have moved on from

their fascination with downloading and

using new apps, the market has become

too saturated, and businesses will have

to evolve their technology strategies


Ok, so if apps are going to die, what’s next?

What changes will occur to get us there?

What’s Next

The future will look more like what we’re

used to seeing on our desktops and laptops

than what we’ve become accustomed to on

our mobile devices. Apps won’t be designed

and developed for a single platform, and

you won’t need to download them from a

special store.

Most importantly, adding a web app to

your home or launch screen will be a

simple process that will go well beyond its

current functionality of just bookmarking

or providing a shortcut to the website.

For most of us, this should be a good thing.

At the outset, it will save tons of time and

money and labor that’s now required for

every business to not only have an app,

but to build and update one for each

OS separately. It will lower the barriers,

making the experience more seamless

across platforms. And it will allow more

companies to compete for space on our

phones, which means we’ll have better

products to show for it.

Mobile apps will look much like what we’re

used to seeing from web apps today, surfing

seamlessly from Mint to Slack to Gmail.

But to make that happen, we need to first

make some improvements.

The technology and infrastructure that

underlies our mobile web experience has

been holding us back for years. It’s one

of the major reasons that native apps

became so popular in the first place--you

simply couldn’t create the same experience

through the mobile web.

The Future of the

Mobile Web

To bring about the next phase of the

mobile web, there are really only five

major things that need to change. And

many of them are already underway.

1. Better Performance and


Web apps need a smarter framework for

dealing with the unique circumstances of a

mobile device.

At the very least, they should load

immediately--with or without an internet

connection. In the current era, we’re used

to apps that spin our little data icon on load

up, with no functionality if we have a bad

connection or don’t have service.

New technologies like the Service Worker

API allow developers to create apps that

work under various circumstances and

network conditions -- dispatching requests

and various tasks for the browser to handle

in the background.

consumers have moved on

from their fascination with

downloading and using new


Things will continue to work and be updated

behind the scenes, even if the user isn’t

interacting with the app. And when they

return, their instance will be retained but

with new data or updates as necessary.

By Cory Crosland

Additionally, Google’s AMP project aims at

addressing the standards and frameworks

used to create mobile web apps that are


2. Offline Operability

One of the longstanding gripes about

the mobile web is that it’s simply useless

without an internet connection. If you

can’t access a website, then you can’t use

the app--whether it actually requires an

internet connection or not.

To solve this, again our friend, the Service

Worker and local storage will allow

developers to cache portions of their app

on the user’s phone, storing it locally and

making it accessible without a signal or


3. Deep OS Integration

Our mobile devices can do a hell of a lot of

things--from tracking our location to taking

photos and beaming files across the room.

At this point, web apps have access to

some of these features like basic location

data and camera access. But much of the

hardware is still out of reach. Soon, phone

manufacturers and browser developers will

give us more power to leverage the existing

information inside the phone to create

richer experiences.

For example, mobile payments (i.e.

Apple Pay) and advanced media support

(i.e microphone and low level camera

functionality) will need to be accessible in

the web context.

4. Containerization

Everything on your mobile device runs

either as its own app or as a tab in your

browser. But this will soon change.

In addition to being able to add apps to

your home screen directly from the web,

those apps should also launch in their own

containers (not just a browser tab) and

operate much like native apps do today.

it’s safe to say that 99% of

app use-cases fall away

This will provide a better experience for the

user, not being bounded by the limitations

of the browser application. It will also

protect instances of the app from the

browser crashing and let you return to the

app instance in the same state that you left

it, without forcing you to refresh the page.

5. Push Notifications and Alerts

From a business and developer standpoint,

one of the best things about native apps

is having the ability to send alerts, push

notifications, and pop up badges for the

user. This drives increased engagement

and lets the app feel more seamless than

traditional experiences where things are

happening and the user is none the wiser

unless they access it directly.

For mobile web apps to truly take off,

mobile operating systems will need to

extend this functionality to web apps and

provide a new set of permissions and

access procedures that allow these apps to

use the same real-time messaging features

to engage users.

Summary: Your Mobile

App (Or Not) Strategy

Will native apps die completely? No. But as

these 5 areas are supported by browsers

and developers, it’s safe to say that 99% of

app use-cases fall away.

As we move closer and closer to this

evolution in the mobile landscape,

businesses will be once again faced with

the decision of how to plan their roadmap.

Native versus web will become a much

more difficult decision as the distinction

between the two blurs.

This should also come as a word of caution

to businesses currently planning the future

of their technology. Relying on native apps

in today’s climate may lead to higher

costs in the near future as users shift

away from this model and businesses are

forced to, essentially, discard their native

applications in favor of making changes

and improvements to their web apps.

Technology executives should carefully

consider the lifecycle of your product and

your development schedule and budget to

plan for these changes.

At this point, it seems inevitable that

development tools & web standards

will catch up with the market and the

evolution will happen quickly. It’s just a

matter of when. MBR


Cory Crosland is the

President and founder

of Croscon. Croscon is

a business engineering

firm focused on delivering

innovative custom software

solutions for their clients.

Cory is a seasoned developer

with over 15 years of IT and

software engineering experience. Cory currently

also serves as a CTO advisor for a number of

companies and has been honored with numerous

awards and accolades – including a Webby award

and a Grammy nomination to name a few.




Malta Business Review



Malta Business Review

Risk aversion is stifling

international business

Minister for Finance Edward Scicluna

stated that risk is a matter of

concern which needs to be carefully

managed, while risk aversion in itself can

potentially stifle investment especially in

relation to emerging markets.

While speaking during a seminar

organised by the Minister Federation of

European Risk Management Associations

(FERMA), Minister Scicluna described the

ever growing difficulties faced by investors

who wanted to do business with countries

such as Iran and Libya. He recalled how

the European Parliament had devised

strict financial and anti-money laundering

regulations in order to avert banking

crises in the future, however, in doing so,

these same regulations are so tight, that

investors are not being able to open bank

accounts and conducting business leading

to investment. This situation should be

addressed so that former pariah states

would really and truly return to the fold of

the international community.

Minister Scicluna referred to the

country’s success at attracting meaningful

investment in areas such as education and

health. Such investment, he said, could

only happen thanks to Malta’s unique

positioning both in terms of geography as

well as affinity with both its European and

African neighbours, together with its own

attractiveness due to good economic and

financial governance.


Courtesy: Ministry of Finance/DOI

The Convenience Shop launches new sliced loaf

The Convenience Shops has just launched

a new bread loaf it believes will give its

customers the freshness and quality they

are looking for. For the launch, the Group

hosted a reception at The Convenience

outlet within the Hilltop Village Gardens

in Naxxar.

Speaking at the launch, Dr Chris Cardona,

Minister for the Economy, Investment

and Small Business congratulated The

Convenience Group on their success

and augured their employees for their

commitment and hard work. The

Group’s success and commitment to their

customers is undoubtedly an example of

success to other businessees.

“This new loaf range includes wholemeal

and soft white loaves - it provides for

improved shelf life that retains freshness

as well as quality of product. The

Convenience Shops believes this new

range will also bring added growth to

their overall bread category,” said Andrew

Attard, Operations Manager within the

Group. “Our future at The Convenience is

based on further growth - apart from our

operational growth expectations, we will

continue to focus more on improving the

customer experience within our outlets,”

he added.

Guests were presented with a feature

highlighting the achievements of the

Group during the past 7 years of operation.

Those present were entertained with live

music, food delicacies and flowing wine.

The Group has over 260 employees

increasing the workforce to over 300 by

the end of 2016 upon the opening of it’s

40th outlet. MBR

Dr Chris Cardona, Minister for the Economy, Investment

and Small Business, speaking at the launching

By J. P. Abela

This is why we take pride in assisting you every step of

the way and ensure that your business event does indeed

become one to remember.





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best conference facilities in Malta. Our Ambassador and Premier Suites are

ideal for smaller meetings and presentations, while the spacious Stella and

Moses Halls both benefit from beautiful sea views and natural daylight.

Extensive outdoor venue space, combined with our well-equipped internal

meetings facilities, provides the perfect location for large functions and

product launches.


For more information or to make a booking enquiry,

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Malta Business Review


eie educational group

eie Educational Group

Commited to Providing the Best

Education Learning Experience

eie educational group

Learning a language or obtaining an

academic qualification is more important

than ever in the global economy. eie

Educational Group provide students with

a first-class educational teaching and

training service at a fair price. Students ask

for an excellent teaching environment so

that they quickly progress through their

course, but also that they will want to

enjoy themselves whilst studying. At eie

Educational Group, you will have a fantastic

studying experience. eie encourage social

interaction trough regular, fun and varied

leisure programmes, as this improves a

learning experience.

eie Educational Group, was established in

January 2000 and their success is built on a

long-standing commitment to the specific

needs of local and international students.

eie constantly expands its worldwide

networks, partners with established

renowned organisations, invests in its

facilities and in social commitments. The

eie Educational Group is redefining the

landscape of modern education.

License Number 2005-TC-001);

• Training programmes - Business

courses, thematic seminars for

business excecutives offered

trough eie Mangement Centre;

• English Language courses - English

courses at Beginner, Elementary,

Pre-Intermediate, Intermediate,

Upper-Intermediate, Business

English and Advanced levels are

offered through eie Languages

Centre (Licensed by the EFL

Monitoring Board – License

Number 282/MB42)

• Student Accommodation - Provision

of quality accommodation around

Malta ideal for students offered

through eie Residences

• Internships – Organisation of

Work placement and Internships

for international students offered

through eie internships. MBR


The eie educational group

is an acknowledged leader in international education


The eie Educational Group aims to

develop the appropriate competencies

and knowledge needed in planning,

evaluation, research and development

tasks in education and related fields in the

midst of societal changes, both on local

and global levels. This network gives eie

the key to be competitive and to share

the collective experience and continuous

professional development with their


In a fast moving world, challenges are

demanding and change is constant.

Tomorrow’s future depends on today’s


Through its companies, the eie Educational

Group is able to offer the following


• Academic programmes - Certificate,

Diploma, Bachelor, Master degrees

in various subjects for young and

mature adults are offered through

eie Institute of Education (Licensed

by the NCFHE as an institute of

Further and Higher Education –

eie Mission

To enhance the level of Academic

training and Tuition of both pre and

post graduate levels by:

• Contributing actively towards the

propagation of equal opportunities

for all.

• Continually engaging in the pursuit of


• Continually investing in its own


• Striving to afford the best service to

all our clients.

• Establishing itself as a leader in the

international education field.

• Contributing towards the social

welfare of the community.

For more information about eie’s degree

programmes, English language courses

or other business related courses you can

e-mail at info@eie-group.com, phone on


We specialise in providing

* Higher Educational courses - eie Institute of Education (NCFHE License Number 2005 - TC - 001)

* English Language courses - eie Languages Centre (EFL License Number 282/MB42)

* Executive and Business courses - eie Management Centre

* Internship services - eie Internships

* Student Accommodation - eie Residences

* International Educational services - eie International

eie educational group,

Tel: +356 21 332804/5 info@eie-group.com


Malta Business Review


Aviation: Corporate Profile

Malta Business Review

UN pays

tribute to

Shimon Peres,


worker for

Middle East


United Nations outgoing Secretary-General

Ban Ki-moon has paid tribute to Shimon

Peres, former Israeli President and the 1994

Nobel Peace Prize winner, who passed away

early Wednesday at the age of 93.

Offering condolences to his family and

friends, and to the people of Israel, the

Secretary-General said that “I am deeply

saddened by the passing of Mr. Shimon

Peres, the former President of the State of


The UN chief noted that Mr. Peres played a

central role in Israel's founding, and served

his country throughout his life, not only as

President but also Prime Minister, Foreign

Minister, Defence Minister and in other key


“He worked tirelessly for a two-state solution

that would enable Israel to live securely

and harmoniously with the Palestinians

and the wider region, a commitment duly

recognized when he shared the 1994 Nobel

Above photo: Joint press conference

Shimon Peres of Israel, pictured here together with Secretary-General Ban Ki-moon, back in 2012, holding a joint press

conference in Jerusalem after the Secretary-General fourth visit to Israel. UN Photo/Eskinder Debebe

Left photo: Secretary-General Ban Ki-moon meets with President Shimon Peres of Israel. UN Photo/Evan Schneider

Peace Prize with Yitzhak Rabin and Yasser

Arafat,” Mr. Ban said, also noting that Mr.

Peres was also a good partner of the UN,

eager to see Israel contribute to the work

of the international community.

The Secretary-General said he met Mr. Peres

on many occasions, and always benefitted

from his views. “Even in the most difficult

hours, Mr. Peres remained an optimist

about the prospects for reconciliation and

peace,” he added.

The Secretary-General recalled Mr. Peres'

remarks at the UN: “The time has come

to comprehend that the real triumph is in

the harvest of peace, not in the seeds of

another war. When we replace war maps

with peace maps, we will discover the

differences were minimal. The wars were

appalling. We shall see that the promised

land could have become the land of

promise a long time ago.”

The Secretary-General went on to wish that

“may his spirit of determination guide us

as we work to ensure peace, security and

dignity for Israelis, Palestinians and all the

peoples of the region.”

In her tribute to Mr. Peres, the Director-

General of the UN Educational, Scientific

and Cultural Organization (UNESCO),

Irina Bokova, said that "he was a great

statesman, a great humanist, and a historic

man of peace."

"Shimon Peres leaves an indelible mark on

the history of the Middle East and, today,

his message is more relevant than ever, to

clear the path to peace and mutual respect

across the region,” she said.

“A founder of the State of Israel, he

remained until his very last days a man

of ideas and values, a man of innovation

and creative thinking, always searching

to mobilize new hope and energy, always

seeking new ways to promote dialogue and

cooperation, especially through science, for

which he was passionate,” she added. MBR

Credit: UN News Centre

World Summit on Sustainable Development

Shimon Peres, pictured here shaking hands with former Secretary-General Kofi Annan during the World Summit on

Sustainable Development, which took place in 2002 in Johannesburg, South Africa. UN Photo.



Design &


Medavia strives to be the leading

provider of aircraft charters and

the full range of complimentary

and associated services

Medavia, was set up almost four decades

ago as an aviation service provider with its

own aircraft fleet specialising in customised

services. Traditionally it serviced the oil

and gas industry in North Africa. Third

party aircraft charter brokerage, including

dedicated air ambulance services, charter

brokerage of VIP executive jets and

airliners, ground handling services and

cabin crew training are now also offered

by the Operations division.

Through the maintenance arm, Medavia

Technics, MRO services are offered for

various aircraft types under EASA, FAA

and LyCAA approvals. Expertise lies in

the establishment and operation of line

maintenance stations including technical

support, both under normal and AOG

Maintenance Repair


Find us on

situations. Medavia has evolved in line

with business realities, investing to

achieve European (EASA) and American

(FAA) approvals while adding design

approved organisation (DOA - EASA

Part 21J) to its portfolio. Maintenance

services include heavy base maintenance,

full refurbishments, modifications and

painting jobs. Medavia also provides

CAMO services.

Medavia operated aircraft based in

Libya, Tunisia, Egypt, Sudan, Mauritania,

Algeria, The Philippines, Norway, Italy,

and Greece and has great experience

in setting up remote operation bases at

short notice. As an operator Medavia

provides integrated tailor-made aviation

solutions, such as operating to remote

areas and unprepared airstrips. As an

MRO efforts are made to minimize aircraft

ground time while maintaining a seamless

transaction for a truly one stop shop. High

quality standards, a clean safety record,

dynamic and operational versatility are top


A flexible and dynamic workforce comprising

experienced and highly qualified personnel

have made all this possible. Medavia

became the top aviation services provider

to the Oil and Gas industry in Libya and has

contributed greatly to the development of

this industry in Libya.


Ground Handling


Medavia has been facing strong

challenges over recent years mainly due to

the fluid situation in Libya since 2011 and

exacerbated by falling oil prices and fierce

international competition. Despite this,

Medavia continues to seek new markets,

aims to remain flexible and sensitive to

changing customer demands and a quality

leader for all services offered. MBR


Efficient. Flexible. Holistic.

Medavia is the true one-stop-shop in aviation.

Part 21J Design


info@medavia.com.mt | www.medavia.com.mt | 00356 2249 0000

40 41


Malta Business Review



Malta Business Review

Navigating Uncharted Waters at

the Malta iGaming Seminar (MiGS)

Another November of gaming conferences set to light up the International calendar in Malta, starting

off with the Malta iGaming Seminar (MiGS) between the 7th and 9th of November 2016 at the Grand

Masters Suite, Hilton Malta. Malta Business Review meet up with local organisers Jeff Buttigieg, COO

of RE/MAX Malta and Ramona Mifsud of BMIT to get a closer look and find out what delegates should

expect during the eighth edition of MiGS.

MiGS is a conference well-known for its

superior quality in content and knack of

attracted authority speakers whilst last

year it was the only local conference

ranked in the Calvinayre.com Top 10

Conferences in 2015 according to Becky

Liggero’ “Becky’s Affiliated”.

The 2016 event is once again attracting

the best crop C-Level Suite executives

from the universal iGaming industry. To

date some of the world’s top management

operators, service providers, regulatory

bodies and legal firms from over fifteen

countries have already confirmed their

participation in this three-day conference.

Whilst the previous two editions attracted

the participation of billionaire media mogul

Calvin Ayre and match-fixing journalist

and author Declin Hill respectively, the

November’s keynote speaker will be John

Andrews, the consulting editor of the

Economist and author of the bestseller,

“The World in Conflict.” On the day after

the US Election, the veteran political

journalist will examine the challenges

that await the new leader of the world's

superpower and the political, social

and economic pressures that will test

governments from post-Brexit Europe to a

China-dominated Asia.

by George Carol

Speaking of the keynote speaker, Jeff

Buttigieg said, “MiGS was created for the

iGaming executive that is concerned about

the industry, interested in lifting his/her

business to the next level and wanting to

meet with other like-minded top industry

executives. John Andrews who was the

Economists’ most experienced foreign

correspondent will evidently provide

a different perspective to the normal

igaming conference speaker, one that

will relate to what is happening outside

of the Industry, but may very well affect

the Industry, especially during a time of

political instability around the world.”

MIGS was created for the

iGaming executive that

is concerned about the


Ramona Mifsud said, “As the organisers

of MiGS we are expected to deliver the

highest quality of speakers and with this

year’s lineup, which includes some of

the most veteran iGaming individuals in

the Industry, John Andrews provides an

element of change that we feel is important

to broaden our delegates views.”

The agenda of MiGS has been compressed

into two full days, with a welcome

reception on the evening. There will also

be several networking opportunities for

the delegates including the first ever

iGaming Awards that will recognize

the industries best employees entitled

iGaming idol.

iGaming Idol

iGaming idol is a new concept which has

been created to recognize the top talent

from the substantial pool of over 8000

employees in Malta’s iGaming industry.

iGaming Idol is being built on the pillars

of individual recognition, charity and

entertainment. The inaugural awards

event will be held on Tuesday, the 8th of

November, the first day of MiGS and will

crown the first eleven winners in eleven

different categories. The nomination

process was rolled out earlier this year,

it will be the first iGaming awards event

where the top nominees will meet the

judges whilst the full judging process will

be audited by an international audit firm

with a local branch in Malta.

The event replaces a very successful

charity event held last year where over

160 delegates attended a fine-dining

experience and contributed the profit of

the event to St. Judes Children Hospital

for Cancer Research in the USA and its

counterpart in Malta Puttinu Cares located

at Mater Dei Hospital at the Anthony

Mamo Oncology ward.

iGaming Idol promised to deliver a red

carpet Oscar’s like evening with Michael

Casseli, Editor of iGaming Business and

Becky Liggero, journalist and conference

presenter from Calvin Ayre hosting the

“Night of the Stars”. The organisers are

aiming to attract a minimum of twohundred

and fifty delegates to the iGaming

idol Awards show and will be contributing

ten percent of the ticket sales to the Malta

Community Chest Fund.

The Malta Gaming Authority and Malta

Tourism Authority have confirmed their

support towards this premium event. Mr

Joseph Cuschieri, Executive Chairman

of the MGA recently endorsed MiGS as

one of the top events he has attended

in Europe in terms of quality speakers,

content as well as participants. He said

that “MiGS has been instrumental in

placing Malta on the map as a destination

for a quality iGaming conference. Their

consistent contribution to the industry in

delivering valuable content, networking

opportunities through their high caliber

speakers and attendees is one of the best

platforms for international executives

to network, learn and share relevant

information and knowledge.”

Speakers and Topics

The Hon Chris Cardona, Minister for the

Economy, Investment and Small Business

will kick-off the conference on the

morning of the 8th November 2016, whilst

speakers of the caliber of Joseph Cuschieri

John Andrews

- Executive Chairman of MGA, Anatoliy

Knyazev - a founder of BitCoin, Martin

Dreymann - Co-Founder of Ebettle, Mark

Blandford - Founder of Sportingbet plc -

Martha Sabol, Co-Chair Gaming Practice,

Francesco Rodano - Chief Policy Officer,

Playtech and Tim Rehder, CEO of Cubits,

amongst others conference speakers that

reign from the Industry, will provide their

insights into this year’s theme entitled

“Navigating Uncharted Waters”.

The topics being debated are the growing

costs from regulators, taxation, virtual

currencies, player reactivation, eSports,

Brexit and an IMGL Master Class that

will cover new and changing markets

amongst others.

The hosts of the event will be one of

the worlds iGaming experts Michael

Caselli who will be chairing the

conference on the 8th November 2016,

iGaming Veteran AJ Thompson will take

over the mantle for day two on the 9th

November 2016, whilst Sue Schneider,

considered the most recognised world

leading expert in iGaming since 1995,

is the conference chair and the

main host of the event.

The MiGS16 conference

agenda evolves and

improves every year

utilizing input from

trusted authorities,

feedback from past

attendees and the global

industry at large. One of

the major elements that


MiGS 2016

delegates to MiGS is the ability of the

organisers to be innovative with their

content delivery and networking, whilst

the event annually retains the same high

calibre expertise and experience with a

major part of their annual speaker lineup

being different. Over 93% of past

delegates have expressed their intention

to attend the next seminar. MBR

Hon. Chris Cardona, Minister for the

Economy, Investment and Small Business

Joseph Cushieri, Executive Chairman of MGA

42 43


Malta Business Review


Opening speech by Minister for Sustainable Development, the Environment and

Climate Change José Herrera at the High Level Meeting of the Regional Marine

Pollution Emergency Response Centre for the Mediterranean Sea (REMPEC)



REMPEC acts as a regional Focal point

in case of regional and international

assistance. It coordinated, at regional

level, the assistance provided to Lebanon

after the 2006 Eastern Mediterranean oil

spill and was involved in 2010 during the

“Deepwater Horizon” oil spill in the Gulf

of Mexico, acting as the regional entity to

gather information on available response

means that could be used in the response


Within this context, REMPEC would

facilitate regional cooperation across

countries, who would work together

to prevent the deterioration of the

environmental status of the Mediterranean

region as a result of pollution incidents.

This would not only achieve the

requirements of the 2002 Prevention and

Emergency Protocol and of the Offshore

Protocol, but also the overall goals of

the Barcelona Convention to protect and

improve the marine environment in the


In this respect Malta reiterates its support

for the implementation of the revised

Mediterranean Strategy for Sustainable

Development, which was reviewed during

the 2013-2015 biennium when Malta

held the Presidency of the Mediterranean

Commission on Sustainable Development,

and adopted earlier this year during the

Conference of the Parties to the Barcelona

Convention, in Athens.

This strategy adapts the Sustainable

Development Goals (SDGs) to a

Mediterranean context and Malta

believes that it is an invaluable tool for

implementing the SDGs in a regional

framework in an integrated and holistic


In conclusion, in view of its important

role in fostering the protection of the

Mediterranean Sea from pollution in line

with the global 2030 Agenda for Sustainable

Development, I auger that REMPEC

continues to render its excellent services to

the region in the years ahead. MBR

Malta is very proud to have hosted this

important United Nations institution for

four decades, and we in the environment

sector are especially very proud of

REMPEC and its work to help prevent and

coordinate combating of marine pollution

from ships in the Mediterranean.

We are all aware of the importance of the

Mediterranean Sea for global maritime

shipping and at the same time of the semienclosed

nature of this marine region,

which renders it more vulnerable to

pollution due to its limited water exchange.

Pollution incidents such as oil spills and

associated introduction of pollutants in

the marine environment are linked to

devastating impacts on marine and coastal

ecosystems. The Barcelona Convention

for the Protection of the Marine

Environment and the Coastal Region of the

Mediterranean Sea, under which REMPEC

falls, is an important convention for

Malta, due to our maritime vocation and

geographic location in the Mediterranean


Indeed, Malta attaches high priority and

relevance to all matters concerning the

Mediterranean region, and believes that

environmental cooperation represents a

strategic tool to contribute to the overall

stability of the Mediterranean region.

In this respect, Malta believes that the

UNEP/MAP “Barcelona system” is a unique

and valuable cooperative system for the

protection of the marine environment

in the Mediterranean region. Malta has

always been actively supportive of the

MAP system, particularly REMPEC, and we

continue to highlight the importance of

this centre to the Mediterranean region.

The Mediterranean Action Plan continues

to be an important and necessary tool for

the protection of the economic, social,

health and cultural value of the marine

environment of the Mediterranean Sea


In addition, in terms of assistance to

countries in emergency situations,

through its 24/7 availability enabling it to

be reachable at any time, REMPEC can,

on request, assist any Contracting Parties

of the Barcelona Convention in case of

an emergency. It can assist not only in

the field of marine pollution response

techniques, but also in the field of wildlife

restoration and the forecasting of pollution

drift, by means of various partnerships

with relevant organisations.

Some of these partners indeed provided

their services though REMPEC during

the oil spill in Lebanon in 2006 and on

several other occasions. Furthermore,

Courtesy: Ministry For Sustainable Development,

The Environment And Climate Change



Margaret Brincat M: +356 9940 6743 | margaret@mbrpublications.net

Higland Apartment Flt - 1, Naxxar Road Birkirkara, BKR 9042


Malta Business Review



Malta Business Review

Launch of Unique Event Venues

The Club House & The Vault

Innovative Venues Launched by Innovent

The Vault

A 16th Century Hunting Lodge has been

beautifully converted into a one of a kind

event venue retaining its unquestionable

soul. The traditional building, located in

the midst of beautiful Maltese countryside

maintains its authenticity. The living areas

of the lodge, christened The Club House,

are testament to its old world charm,

brought up to date with a contemporary


Below the Club House lies the remarkable,

converted, former subterranean stables.

The Vault is a genuinely unique location,

full of the original magic, character and

soul of historic Malta. It now also offers all

the facilities to transform it into the perfect

space to truly create the “Wow” factor.

The venue also features The Rooftop, an

outdoor location with spectacular country

views, an elegant atmosphere and the

versatility to cater for both daytime and

evening events.

With over 30 years’ experience in Event

Management and Entertainment,

Innovent cater for a multitude of different

requirements ensuring every event is a

success. This new collection of exciting,

authentically Maltese venues has just

been launched during a preview evening

where guests were invited to experience

the ambience first hand. Two of the

three venues have recently been restored

Corporate Brief

Innovent forms part of the Gianpula Village, a multi venue entertainment complex

located in the limits of Rabat. The complex started life as a nightclub set up by the De

Giorgio family in 1980 to cater for those who were looking for a different night out in

Malta. Their son Matthew took over in 2005 with a clear vision to take the complex

from one nightclub to a Village concept, offering various entertainment solutions. The

secret to their recent success has been the ability to adapt to trends and the needs of

the public. This has resulted in the creation of 9 distinct venues being created within

the village offering different capacities and varying scope. The most recent additions

to the Village are the corporate event venues The Club House and The Vault. Both

venues have been fully converted to cater for corporate events and business meetings.

and converted to the highest standards,

offering unique yet complimentary event

spaces like no other in Malta.

All within one central, convenient location,

the three independent, privately owned

venues offer a truly unique setting.

Venues can be hired independently or

together, to go from day-time meeting to

post-conference party or al-fresco dinner.

Innovent can cater for any event, from

intimate business meetings of 10 people

to larger Team Building events, Corporate

Meetings, Product Launches, Winter

Weddings and Staff Parties of up to 500

people. MBR

Visit us on: https://innoventmalta.com/

Media Contact:

Tappintomalta Ltd

Tel: 27133903

The Rooftop Lounge

Careers Convention for


By Special Correspondent

The mantra “As strong as your weakest

link” never applied better than in the

case of Human Resources. Many gaming

companies based in Malta have set up

their own department for head hunting

and recruitment, making sure that the best

talent fills each and every vacancy available.

So this year at SiGMA, during the last few

hours, on day two between 2pm and 6pm,

the doors will open for talented graduates

and IT developers, but strictly by invite, for

a careers convention.

In the words of Eman Pulis, “Anyone who

has been to any expo can attest that

numbers tend to dwindle down a bit

towards the end. So the timing seemed

right for a careers convention to help

meet the increasing demand for talent.”

Graduates from the University of Malta,

MCAST and various private institutes will

be targeted and personally invited to this

careers convention. Eman went on to

elaborate, “We’ve quite literally embarked

on a three month head-hunting mission for

all, not only in Malta but also in Scandinavia,

where request for Scandinavian talent is on

the increase. Who knows? They might likely

meet their best employer to date!”

Between 2pm and 6pm on Day Two of the

expo, the doors will open to graduates

and IT developers who are looking at the

possibility of a new career in iGaming.

Partners MyEvetntsPlanner have secured

solid partnerships with student faculty

organizations ICTSA, ELSA, ASCS, UESA,

GHSL and others.

SiGMA’s ultimate goal is to bring the

entire gaming community together, from

affiliates and operators to regulators and

vendors. However, this year, it also wants

to serve the purpose of recruitment in

Malta. In the words of SiGMA’s Dennis Dhyr

Hansen, “It is well-known that recruitment

remains one of the trickiest aspects, often

leaving developers in short supply and an

increasing number of graduates looking

to form part of the gaming industry. This

is where SiGMA can provide an excellent

platform on Maltese shores.”

When asked about the partnership with

SiGMA, Managing Partner at Event Planner

James Cassar said: “I’ve worked on various

events with Eman for a long time and this

partnership should pave the way for some

great opportunities for graduates who are

seeking a career in igaming. Through this

event we want to create a bridge between

students and the betting company world

where great employment opportunities


Those attending will be entitled to shop

around the expo floor as well as attend

a conference on Human Capital and

Performance. Networking drinks and

the closing party will also be accessible

to the Careers Convention attendees.

The organizers are signing the brightest,

most experienced speakers from within

and outside the industry, including TED

speakers, covering a range of themes and

paving the way for some animated panel


The organisers have lined them up for you:

100 speakers, 150 sponsors/exhibitors and

3,000 quality attendees. MBR

For further information visit:


46 47


Malta Business Review


gozo: smes

Malta Business Review

Why Sudden Cardiac Arrest is

so deadly?

Sudden cardiac arrest (SCA) is the most

common cause of death from heart

disease, accounting for more than 63

percent of all cardiac deaths. In SCA, the

heart suddenly stops beating normally.

Without a blood supply, oxygen-starved

organs are irreversibly damaged and will

quickly fail...within a few minutes.

The only effective treatment for SCA is

Defibrillation. External defibrillation

provides a brief, effective therapeutic

electric shock through the person’s chest

to the heart, restoring the heart’s normal

rhythm. While people with heart problems

are at high risk of death from SCA, it can

strike anyone, anywhere, at any time

without warning and in some cases is

the victim’s only symptom. Even young

people, people who appear to be healthy,

extremely fit athletes and people with no

history of heart problems can be victims of

this silent killer.

The definitive survival treatment for a SCA

victim is a defibrillation shock. Cardio

Pulmonary Resuscitation (CPR) or ‘chest

compressions’ and ‘mouth-to-mouth’

breaths, only temporarily circulate blood

if a casualty is not shocked

within 5 minutes of collapse,

he/she will have less than 50%

chance of survival!

to vital organs and on their own do not

restore a patient's heart into a healthy

rhythm - a Shock is needed…and fast!

The average national response time for the

arrival of emergency personnel equipped

with defibrillators is usually greater than 10

For further details, contact Technoline Ltd. Tel 21 344345

- 15 minutes - this is just TOO LATE! That is

why immediate access to defibrillators onsite

is extremely important. Each minute

of delay in delivering a defibrillation shock

to a Cardiac Arrest victim reduces the

chances of survival by 10% - Meaning

that, if a casualty is not shocked within 5

minutes of collapse, he/she will have less

than 50% chance of survival!

When a sudden cardiac arrest (SCA)

strikes, the first few minutes are critical

to survival. In the chaos and confusion

surrounding the event, it can be

challenging for the average rescuer, with

only minimal training in CPR and AED

use, to remember and follow the correct

procedures. It’s during these critical

minutes that the Powerheart AED G5

becomes priceless. MBR

SME week in Gozo

Minister for Gozo Anton Refalo attended launching of a website geared specifically encouraged more people, and in particular

a seminar entitled 'Preserving heritage towards SMEs in order to provide them younger ones, to seriously consider

through Crafts', organized by Malta with information regarding investment the challenging but fulfilling life of an

Enterprise in collaboration with the Ministry

for the Economy, Industry and Small

Businesses as part of the SME Week Malta

2016, with particular emphasis on crafts.

opportunities. The idea of the portal www.

gozoartisans.com is to provide a common

platform for Gozitan artisans. This excellent

tool will enhance the online presence for the

entrepreneur as a career option. This website

will give recognition to entrepreneurs for

their contribution to Europe's welfare, jobs,

innovation and competitiveness.

Minister Refalo noted with satisfaction the

crafts businesses which one can find in Gozo, Refalo welcomed this initiative and thanked

and increase their local and international Malta Enterprise for their hard and sterling

visibility. This launch is just the beginning of

a broader journey which will rope in other

important stakeholders in Gozo. The focus

is to help artisans, and to guide them on

how they can tap into the opportunities

offered to them with the aim of maximizing

their business potential. The Ministry for

Gozo is committed to attracting new types

of businesses to Gozo, and this tool will

work. The Minister for Gozo pledged the

Government’s continuous support in the

interest of small and medium enterprises,

whom he described as the backbone of the

local industry. He mentioned the €16 million

investment at the former MDP, at tal-Ħofra,

in the Xewkija Industrial Zone and also the

infrastructural investment in the SME’s

village in Xewkija.

consolidate the Government’s vision in this


Minister Refalo noted that the main

goals of the SME week are to provide

information on what kind of support are

being offered to micro, small and mediumsized

businesses on both an EU and national

level. Moreover, it showcases the help being

offered by regional and local authorities, and

promotes entrepreneurship.Minister Refalo

Minister Refalo said that the next step is to

attract investment which provides jobs for

locals and those who decide to settle down

in Gozo. Minister Anton Refalo emphasized

that the Ministry for Gozo is fully committed

in supporting such initiatives, which will

improve SME’s business operations both

locally and on an international platform. This

is geared towards a healthier economy.

Creditline: Ministry for Gozo/DOI


48 49


Malta Business Review

language & publishing


Malta Business Review

The Road to Publication Success - Overcoming Challenges

Faced by English-as-Second-Language Authors

by Julian Tang

Writing scientific content in English —

when it is not your native language.

Writing in any language is difficult, let

alone writing in one that is not your native

language. The challenge is compounded

when writing research papers, which

require academic rigour, experience and a

specific set of skills.

Why publishing in English is important

If you are a researcher whose native

language is not English, you need to first

recognise that publishing in English is

critical. As the international language,

content published in English means

maximum exposure, higher chances of

being cited, and greater potential for

collaborations with a global community of


In scientific writing, there are a multitude

of advantages to publishing your content

in English. English articles involve a wider

community and encourage knowledgesharing

conversations in the STM (scientific,

technical, medical) community. An analysis

of the Science Citation Index shows that

out of 3,729 journals in its database, as

many as 96% are in English.

As researchers, having your work cited is

the next important step after publishing —

work that is not read and not cited, makes

no impact in the field and therefore negates

the point of publication. Publications in

English have higher change of being cited.

Invariably, high-impact content tends to be

presented in English. One only needs to call

to mind major scientific publishers such

as Springer, Science and Nature to know

that leading journals are predominantly

delivered in the English medium.

Finally, English-medium publications —

especially well cited ones — are increasingly

a part of official evaluation in institutional

contexts, for grants, fellowships and job


Region-specific content also benefit from

being published in English

In spite of the many advantages, some

English-as-Second-Language (ESL) authors

still avoid writing and publishing in English.


ESL authors cite a number of reasons for

writing in their native languages. One is that

they may have a domestic target audience

in mind who will benefit from having

the information presented in a familiar

language. While this may seem helpful, it

flies in the face of academia, which is to

create a web of knowledge for colleagues

who are not just in the next campus but

across cities and national borders.

Some ESL authors also find it challenging to

convey their original ideas and reasoning

in English. Due to the nuances available

in their native languages, they prefer to

avoid English simply because too much

effort needs to be put into learning a new

language from scratch.

It flies in the face of

academia, which is to

create a web of knowledge

for colleagues who are not

just in the next campus but

across cities and national


Why machine translations almost never


Contrary to common belief, scientific

writing in English is not a simple case of


In particular, machine translations of

academic writing — as well as proofreading

— almost never work. Such tools, while

Julian Tang is Medical Editor & Writer/Clinical

Research Consultant at National Center for Child

Health and Development

ubiquitous, are hardly ideal in picking up

technical language and often result in poor

sentence construction, errors in syntax,

and ultimately reduce the readability of

the content.

These issues increase the likelihood of

subsequent rejection by professional

language editors and journal editors

alike. While some reviewers and editors

of manuscripts may overlook errors like

grammar, syntax and usage, and focus on

the quality of the scientific arguments,

manuscripts that are poorly composed run

definite risks of being sidelined, especially

when reviewed alongside concise pieces

submitted for publication and funding.

Be conscious also that your writing has a

high chance of being read by an ESL reader.

These readers are likely to benefit from

concise writing following conventional

usage of scientific language in English.

Working with literacy brokers to perfect

your work

So what could ESL authors do?

The key to success in publishing is having

consistent interaction with as well as

learning from “literacy brokers”. These are

gatekeepers including editors (freelance,

in-house or in external companies,

particularly those from specific fields

with in-depth knowledge of the paper

being prepared), journal editors and peer


Start building your capacity for scientific

writing in English

Successful publication by ESL authors

in English is attainable. First, recognise

the benefits of writing, publishing and

presenting your ideas in the language.

Then, work to overcome hurdles through

practice. Seeking professional assistance

not only increases the chance of having

your work accepted by major publishers, it

also allows you to learn the concrete skills

required in preparing your next successful


Learning to write well may seem a

daunting task, but with practice and the

right guidance, you can deliver a polished

piece of work befitting the innovative ideas

that you want to share. MBR



coordinated by

the European




in Europe

Minister for the Economy, Investment

and Small Business Chris Cardona and

the Minister for Competitiveness,

Digital, Maritime and Services Economy

Emmanuel Mallia addressed the annual

conference by GRTU as part of the

activities making up SME week. SME week

is a pan-European campaign coordinated

by the European Commission that aims

to promote entrepreneurship in Europe,

and helps existing small and medium

enterprises find information on available


The GRTU’s conference, entitled ‘Gearing

Maltese enterprises to conquer today’s

challenges,’ was aimed at helping and

directly address the individual and multiple

challenges Maltese businesses face. A

number of workshops were held on EU

funding opportunities, digital marketing,

internalisation and aid in exploring new

markets, employment and innovation.

Minister Cardona said the Government

is committed in continuing to create

favourable conditions for businesses

to grow and innovate, whilst nurturing

macroeconomic factors that harbour

growth. Targeting SMEs is essential since

they are the pillar of the Maltese economy,

and it is down to these economic players

that Malta currently boasts one of the

fastest-growing and successful economies

in Europe.

“Keeping things into perspective is

essential and we must remain conscious

of the competition and actively identify

the challenges SMEs face as we continue

to increase our presence further as we

compete globally,” said Minister Cardona.

Minister Cardona assured everyone that

the upcoming Budget for 2017 will continue

to work for greater access to finance and

support to innovative companies, whilst

increasing the emphasis on investment in

the country's infrastructure.

Minister for Competitiveness, Digital, Maritime

and Services Economy Emmanuel Mallia

The World Economic Forum and the most

recent Employee Skills Survey by Jobsplus,

in collaboration with Malta Enterprise,

both identified an inadequately-educated

workforce as a current issue and one that

the economy will be facing for the next

couple of years. Cardona appealed to

educators and employers alike the need

to embrace a culture of in-house training

and fostering the necessary motivation

in students and employees for further

specialization and development.

Minister Mallia also stressed the necessity

for businesses to adapt to the current

digital age.

“Digitalization has revolutionized the way

we access information acting as the main

threat to organizations or the solution they

need to embrace in order to survive. It is

foreseen that 75% of today’s businesses

would not have the same format in ten

years’ time,” said Minister Mallia.

The growth of the digital economy brings

upon us a new policy and regulatory

challenges which need to be met with

an according and timely fashion, capping

on the European Union’s proposal of

measures to support business entering

new markets, with an investment of 50

billion euros of public and private funds

to upgrade Europe’s digital innovation


The Minister described the vast

opportunities the European Union offers

in promoting SMEs, commencing from the

Enterprise Europe Network, which brings

together no less than 600 business support

organisations, the European Commission’s

programme designed for Competiveness

Enterprise, COSME, as well as another

programme directed towards SME’s

Horizon 2020 targeting highly innovative

SMEs, with strong ambition for growth,

competitiveness and internationalisation.

On a local level, a number of initiatives

have been undertaken to ensure that we

leverage the full potential of European

Structural Investment Funds (ESIF)

contribution to support local enterprises.

With a budget of 454 billion euro for

2014 to 2020, Minister Mallia added,

the European Structural Investment

Funds (ESIFs) will deliver a critical mass

of investment in key EU priority areas by

supporting job creation and getting the

European economy growing once more in

a sustainable way.

Both Minster Cardona and Minister Mallia

commended the GRTU for organizing a

conference which aimed at challenging

the attending businesses’ current setups,

whilst also giving them the necessary

encouragement and tools. MBR

Courtesy: The Ministry For The Economy, Investment And

Small Businesses And The Ministry For Competitiveness,

Digital, Maritime And Services Economy

Minister for the Economy, Investment and Small

Business Chris Cardona




Malta Business Review

Government stocks


Malta Business Review

Closure of

the Malta


Stock Issue -

October 2016

The Treasury announces that due to the

strong demand for the stocks offered in

the latest Malta Government Stock issuance,

the subscription in the Malta Government

Stocks was closed on Monday 17th October

2016 at 2:30 pm shortly after the amount of

applications received from members of the

public exceeded the amount on issue and

the overallotment option. In addition to the

amount on issue, that is €100 million, the

Treasury shall exercise its option to utilize

the additional sum up to a maximum of €60

million such that the aggregate amount to be

allocated will be increased up to a maximum

amount of €160 million.

Deputy Prime Minister Mr Louis Grech

recently met members of the Malta

Bankers’ Association (MBA) to brief them

about the Malta Development Bank (MDB)

and discuss with them the role that the

private banks will have in the new Bank’s


The Malta Development Bank will serve

as a second-tier financial institution when

private commercial banks fail to make

appropriate financing available, or when

such is offered, normal market terms are

not given.

During a presentation by Mr Rene Saliba,

chairman of the Working Group appointed

by the Deputy Prime Minister, it was

revealed that the Group had identified a

In this regard, the aggregate amount not

exceeding €160 million shall be allotted

to the members of the public in terms

of the Allotment Policy stipulated under

Paragraph 4 of the Prospectus dated 7th

October 2016. The details of the allotment

policy will be published by a Press Release

and communicated on the Treasury’s

website immediately after the vetting

of applications for compliance with the

The Malta Development Bank to play

major role in plugging huge financing gap

financing gap of between €2.3 billion-€3.1

billion, which, if one included a large

infrastructural project like the monorail or

a light railway, this could easily reach €1.4

billion - €2.3 billion.

Mr Grech referred, in particular, to the

assistance that the MDB could give to

small and medium-sized enterprises,

whose financing gap was estimated at

between €334 million and €602 million.

The Bank is expected to have an authorised

capital of €200 million, allowing it to

leverage this to around €1 billion of loans

in due course. The initial paid-up capital

is expected to be around €30 million, with

further capital pay-ups depending on the

growth of the Bank’s business.

provisions of the prospectus.

In view of the above, no further applications

from the members of the public will be

accepted and the auction which was

scheduled to be held at noon on Monday

24th October 2016 is being canceled as no

volume is available for allocation under the

auction/bid system. MBR

Creditline: Ministry of Finance

Mr Grech said that the setting up of such

an institution will significantly extend

Malta’s financial structure and contribute

to economic growth.

Representatives from APS Bank, Bank

of Valletta, HSBC Bank, Lombard Bank,

Medbank/Medcorp and MBA that were

present for the meeting welcomed the

establishment of the Bank and agreed

that it would be a very useful institution

complementing and supplementing the

lending activities of the private banks.

They exchanged views with the Deputy

Prime Minister, Mr Saliba and the Deputy

Governor of the Central Bank, Mr Alfred

Mifsud, about various aspects of the

proposed Banks’ operations.

The Bank has already obtained the

approval of the European Commission,

after it was found to be in line with EU

state aid rules.

The Bank will be owned 100 percent by the

Government and it will have a guarantee

from the Maltese Government on both

the assets and liabilities side, the extent

of which will be negotiated between the

Bank and the Ministry of Finance. MBR




Simon Busuttil addresses

European conference on

Diabetes in Munich

Earlier today the Leader of the

Nationalist Party Simon Busuttil

addressed a European conference on

Diabetes organised by the Foundation

of European Nurses in Diabetes (FEND)

in Munch. The conference is bringing

together some 250 nurses specialised in

diabetes care from 30 different countries

from around the world.

Simon Busuttil addressed the conference

on how the fight against diabetes can be

stepped up by putting it higher on the

political agenda at a national, European

and global level.

Over the past years, Simon Busuttil has

been actively committed to the cause

of diabetes, starting from his term as a

Member of the European Parliament where

he chaired the Diabetes Working Group

and successfully piloted the adoption of

a European Parliament resolution on the

diabetes epidemic in March 2012. Later

that year, he was awarded the MEP of the

Year Award for his contribution to the fight

against diabetes.

In Maltese Parliament, Simon Busuttil

was the pioneer, along with Government

Whip, Dr Godfrey Farrugia, in establishing

an informal Diabetes Working Group

involving 11 MPs from both sides of the


Addressing the conference in Munich,

Simon Busuttil explained how the work in

Malta led to diabetes being placed higher

up the political agenda with the adoption

of a report on Health Choices, with the

enactment of a law on the Promotion

of a Healthy Lifestyle and by actively

supporting the Government in adopting a

National Diabetes Strategy for Malta.

Simon Busuttil said that the co-operation

between decision-makers and stakeholders

from industry, the professions and patients

groups was instrumental in pushing this

cause forward.

“I have never seen this level of cooperation

between policy-makers and

stakeholders coming together on a specific

objective and achieving concrete results in

such a short span of time. But the fight

must continue relentlessly. Every person

who succumbs to diabetes is a person we

should have saved.” he said.

On a global level, Simon Busuttil has also been

the Vice-President of the Parliamentarians

for Diabetes Global Network (PDGN) for the

past three years. MBR

Further reading:

European Parliament Resolution on addressing the

EU Diabetes Epidemic: http://www.europarl.europa.



Framework document on Health Choices http://


Creditinfo Malta

now accessible from your own software or point of

sale system

You may now integrate our Credit Risk management

data directly into your own system:

- Choose which data you want

- Keep your own brand

- Choose your own style

Have it all in-house!

2131 2344



52 53


Malta Business Review



Malta Business Review

Storm in a tea cup

Implementation of tiles over membrane

Implementation of Thermal membrane reduces heat by 90%.

Waterproofing of bathrooms

Waterproofing of planters with root repellant membrane

By Antoine Bonello

It is the time of the year when we

experience our annual September/

October rain fall. This usually comes

after a six month dry period of intensive

heat. During this time of the year

we experience a drastic temperature

change, shorter days and lot of traffic.

In short winter is coming back. But

what exactly happens to our houses in

summer and why many people endure

water intake at this time of the year?

The truth is that we live in an island

surrounded by sea and our climate is

very humid and salty, this mix of heat,

humidity and salt is definitely not

concrete friendly. Our concrete roofs

expand with the summer heat and

absorbs dew and moist in the evenings.

This combination of heat and salt water

rusts the iron bars inside the concrete

structure, subjecting it to cracks

and unwanted building damages.

Over 80% of building damages is

the result of water intake mostly

due to bad waterproofing systems,

improper plumbing installations

(always implement waterproofing in

bathrooms prior installation of pipes

and drains), rising damp and drainage

system. All this sounds catastrophic

and should be a matter of concern,

yet in reality with proper products and

good workmanship there is no reason

for any alarm.

All the above mentioned problems can

be solved with a proper waterproofing

resin membrane. A waterproofing

membrane is a thin layer of water-tight

material that is laid over a surface.

This layer is continuous and does not

allow water to pass through it. For

example, on a roof or flat terrace, a

waterproofing membrane could be laid

above the structural slab and below

the finish tiles. This will ensure that

water does not seep into the structural

slab. The tiles and membrane must be

laid over a filler material that is sloped

to ensure that water flows into sumps

and drains and does not seep into the

slab over time.

There are essentially two types of

membranes, sheet (carpet) based

membranes and liquid applied

membranes. The first one is mainly

made from bitumen, it is non-elastic,

creates heat intake and tends to open

from seams when subject to concrete

movements. This type of membrane is

recommended for foundations only.

A good outdoor waterproofing

membrane for outdoor must be should

be strong, flexible, tear-resistant and

elastic so that it can stretch to cover

cracks and also move with the building.

If the membrane is to be exposed to

the sun, then it should be UV resistant.

The membrane should be flexible

enough to take any shape it is laid over,

and be capable of turning up and over

walls and other construction features.

Liquid applied membranes come to

the site in liquid form, which are then

either sprayed or brush-applied on the

surface. The liquid cures in the air to

form a seamless, joint-free membrane.

The thickness can be controlled by

applying more of the liquid chemical

per unit area.

Since the application procedure is very

quick, a contractor will try and finish

the entire area to be waterproofed

in a single day to avoid cold joints.

However, if a very large area is to be

done on successive days, cold joints

can easily be done by overlapping

the new membrane over the old - the

chemical will stick to itself readily.

These are generally considered to be

superior to sheet based membranes

as they are joint-free. However care

must be taken in application and the

type of material. Avoid plastic and

acrylic based membranes and they

lack UV resistance and will flake.

The result is a fast deterioration and

product failure when you need it the

most. The intensive heat and high

UV Rays makes life difficult for these

products to lust long maybe a winter

or two. An Important factor is the

environment, Bitumen products melt

at low temperatures, create heat

intake and are considered a hazard to

the environment. They are not suitable

is you have wells and are considered


The membrane can tear or break if it is

too thin always make sure to apply the

right thickness, minimum three coats

after the application of a primer to

create a good adhesion.

How can we identify a good

waterproofing product?

• UV Stability - if the membrane is

to be exposed to the sun, it must

carry UV resistant mark or else it

will degrade over time.

• Elongation - this is the ability of

the membrane to stretch. It is

measured in percentages. An

Water reppelant transparent membrane

elongation of 150% means that

the membrane can stretch to 1.5

times its length when pulled. This

property will allow the membrane

to stretch over cracks that may

develop in the future

• Tear Resistance - this is an

important property, as many

membranes that have good

elongation also can tear easily. You

are looking for a membrane that

will not tear even if a reasonable

force is exerted on it.

• Chemical stability - check that

the membrane is chemically inert

with respect to its environment in

the building., especially outside

basement walls were they are

exposed to soil and rainwater.

• Case Studies - ask the manufacturer

We are Quality


Visit our showroom for professional advice on how to protect your home.

The Resin and Membrane Centre, 264, Old Railway Track, St. Venera

Web: www.theresincentre.com E-mail: info@theresincentre.com Tel: 27 477 647 Mob: 99 477 647

or importer to give you case

studies where the membrane has

been used..

Quality materials and properly trained

installers is the secret to a perfect

waterproofing. The idea of one material

fit all is just a fairy tale, especially

when it comes to waterproofing.

Product knowledge and how to use

them correctly is the secret of an able

installer. The Malta Waterproofing and

Resin Flooring Association provide

technical knowledge and professional

formation to all Maltese installers who

wish to improve their workmanship

or start a carrier in the waterproofing

business. The Association also assists

its members by providing the services

of a profession advisor when facing

challenging situations or other

difficulties during their works. The

Association also provides its qualified

members the Certified Installers Card.

This is done to reassure the general

public that the person has all that is

required for a job carried out at its best.

All this is being made possible thanks

to the Resin and Membrane Centre

and NAICI International Academy. MBR

54 55


Malta Business Review



Malta Business Review

Creditinfo Group

launches Creditinfo

Academy website

Using Aerial Drones

in Construction

By Katja Knox

Creditinfo Academy was established with

Group, is a skills development and

with clients. They have to be adept with

When it comes to surveying your site

before renovation works, accuracy is key.

Knowing where the issues are is only one

aspect of planning the renovation works;

you also need to be aware of the type of

damage before setting a budget.

In the last few years, the use of aerial

drones has become more commonplace

in the construction industry. Many

companies are finding that drones can

play a vital role in their work. Whether

they’re used for surveying, showing

clients an aerial overview of completed

projects, monitoring jobsites to ensure

safe practices or inspect structures,

drones have the potential to become as

important a tool to the industry as any

piece of yellow iron.

Aerial roof surveys are most commonly

required by roofing professionals in

domestic situations, although they can

also be used efficiently by architects,

property developers and insurance

companies. Drones can help bring a

unique perspective by providing a third,

vertical dimension and accessing places

previously cost-prohibitive with minimum


unlike a cherry picker or scaffolding that

may obstruct an entrance or occupy

parking spaces, a safe zone can be

established away from the building. And

because no cherry pickers or scaffolding

is needed, survey times can be drastically


But the greatest benefit in using drones

must be access. In some circumstances

it may not be physically possible to use a

cherry picker or scaffolding to reach a roof

or high-level elevation due to access or

weight constraints, which could result in

very high costs. Using drones can therefore

also be cost-effective compared to other,

more traditional methods of surveying.

However, weather can play havoc on

drones, and it’s not advisable to fly a drone

in strong or gusting winds. The wind can

push the drone off course and if they strike

a tree or building, you could be looking at

a replacement or potentially worse. You

also need to be aware of the issues around

flying drones on a commercial basis, and

the responsibilities with regard to flight

safety and maintenance procedures, and

the understandable issues around privacy.

What do you think? Are drones the way

forward in surveying construction sites?

Take part in the discussion on the above

and email us your views/feedback at:

martin@mbrevents.com MBR

the purpose to assist the development

of sustainable financial and credit

management, assisting businesses

with increasing their efficiency through

innovative technologies. The objective

is to offer diversified range of training

which will help organizations as well as

customers to enhance their financial

responsibility. Creditinfo Academy’s

mission is to stipulate responsible lending

practices through the involvement of

financial literacy programs. We believe

that Creditinfo Academy, through its

courses, can influence the development

towards more sustainable and financial

inclusive economy. In order to be closer

to our clients, partners and past and

future students, we are launching the

Creditinfo Academy website: www.

creditinfoacademy.com, where you can

explore more about us and our training


Creditinfo Academy, part of Creditinfo

training provider that delivers generic

and customized training services. Our

focus, at Creditinfo Academy, is to

provide training for clients wanting

to develop their skills to improve

operational efficiency and overall

business performance; as well as train

consumers and assist public sector in

their quest for financial inclusion.

We have identified that one of the

challenges facing financial institutions,

especially FinTech companies, is the

fast pace of technological developments

and FinTech innovations, which happens

around the globe. The issue here is to

ensure that the staff, managing those

new products and digitalized lending

processes, possess a relevant set of

skills. The conservative approach

towards credit control and monitoring

won’t work in this case.

Credit officers are no longer dealing with

Excel spreadsheets and direct interviews

new technologies, understand the latest

products, and understand the trends, as

well as the new risks which come with

it. This is why we established Creditinfo

Academy – to assist those professionals

with such challenges. Credit Risk

Management is not only about analyzing

credit applications, and overlooking loan

portfolios, it starts with acquiring the client

through various new means, managing

and monitoring to the follow ups.

We offer various seminars, for example,

”Improving your Credit Risk Management

practices”; “Fraud Risk Management “

– a series of workshops and “Advanced

Credit Scoring” to mention just a few.

In October, we will conduct a three-day

specialized seminar on Advanced Credit

Scoring – one will be held in Nairobi 12-

14 October and the second one, in Dar

es Salaam 19-21 October 2016.


More info can be found on our website


There are several benefits of using a drone:

there’s the reduced health and safety risk

to boot; there are no people, plants or

other obstructions up in the air. There’s

also the aspect of minimal disruption;


56 57


Malta Business Review


Malta Business Review

Submissions for The Malta

Television Awards 2017 will

close on 31st October 2016. Join in the

Further Channel Islands expansion for Equiom

International trust and corporate services

provider, Equiom has announced the

appointment of Jason Woodhard as a Senior

Manager joining the Business Development


Based in the Guernsey office, Jason will be

responsible for developing and maximising

Equiom’s new business opportunities across the

Group’s multiple jurisdictions. Working closely

with Richard Tribe, Global Business Development

Director, Jason’s role will centre around expanding

Equiom’s presence in Guernsey and UK markets.

Jason joins Equiom with extensive financial

services experience, having worked in the

industry for over 25 years. During this period, he

has developed skills in the area of dealing with

non-domiciled UK residents and has built up a

number of key relationships with UK tax advisers.

Speaking of his appointment, Jason said: ‘Equiom

is a dynamic and growing company and I’m

excited to become part of the team. Equiom has

excitement and prestige

on Awards Night! Don't

miss out on your chance

to be recognised and

honoured for your work.

Submissions may be

submitted on-line or by

physically submitting

the material at the

relative television

station. Applications,

information on

categories and rules and

regulations may be obtained from our



a world class reputation and an impressive track

record of delivering excellent services to its client

base. I look forward to working with Richard and

the team and assisting in driving the business


Richard Tribe, Global Business Development

Director commented: ‘I am very pleased to

welcome Jason to the Guernsey team. He brings

with him invaluable fiduciary experience and

has built up a strong reputation as a leading

professional in the financial services industry

over his career to date. Jason will be an asset

to the team and I have no doubt he will hit the

ground running thanks to his excellent technical

knowledge in areas such FATCA, US tax reporting

and non-domiciled UK residents.’

This news follows Equiom’s acquisition of Links

Group, which sees the business enter two new

jurisdictions - the United Arab Emirates and Qatar.

www.equiomgroup.com MBR

Those of you who still have not liked our

Facebook page, please do so as we will be

posting updates regularly on this social

media. Modestly, we can say that our

responses to your enquiries are dealt with


Watch clips and Awards night of past years

by visiting our Facebook page. They will

surely bring back some nostalgia!

You may contact us via email:


Facebook Msg The Malta Television

Awards or by calling : 79441166

Good luck!

Announcement of the

Interest Rates of two

Floating Rate Malta

Government Stocks

The Treasury hereby announces that the

interest rates in respect of Floating Rate Malta

Government Stock 2017 (V) linked to the

six-month Euribor and Floating Rate Malta

Government Stock 2018 (IV) linked to the sixmonth

Euribor have been set as follows:

Air Malta at University and MCAST

Freshers’ Activities

Floating Rate Malta Government Stock

2017 (V)

• The interest rate of Floating Rate Malta

Government Stock 2017 (V) linked to the

six-month Euribor for the period from

5th September, 2016 to 4th March, 2017

(both dates inclusive) shall be 0.707% pa.

Such interest rate is reset and based on

the six-month Euribor as determined and

published on Thursday 1st September,

2016 at -0.193% plus a spread of 90 basis


Floating Rate Malta Government Stock

2018 (IV)

Travelling abroad to study has never been

so cost-effective following the launch of Air

Malta’s student offer. This offer, entitling

students to a total of 50kg worth of luggage

for free, even when travelling on its lowest

fares, was promoted during the freshers’

activities currently being organised at the

University of Malta and MCAST. Air Malta

staff present at these events explained the

perks of the offer and showed students

step by step how one can apply online. The

airline’s staff also explained the airline’s flight

• The interest rate of Floating Rate Malta

Government Stock 2018 (IV) linked to the

six-month Euribor for the period from

5th September, 2016 to 4th March, 2017

(both dates inclusive) shall be 0.907% pa.

Such interest rate is reset and based on

the six-month Euribor as determined and

published on Thursday 1st September,

2016 at -0.193% plus a spread of 110 basis


This announcement is issued pursuant to

para 7(g) and para 7 (h) of the Prospectus

published in the Government Gazette of the

21st August, 2012 under Government Notice

No. 874. MBR

schedule and route network and distributed

branded mouse mats, sun visors, pens and


The initiative is available for all students who

are currently pursuing a full time educational

programme in Malta or abroad. To register

from this offer students are invited to visit



and complete an online form at least

five working days before travelling. MBR






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